ODM leader Raila Odinga and his wife Ida on Sunday hosted Unaitas Sacco board members for a breakfast meeting at their home in Opoda farm, Bondo.
The micro-loans lender will on Monday officially open a branch in Kisumu, the 25th in the country, as it seeks to expand its customer and revenue base.
The need to attract more investments for the region was discussed in the morning meeting.
The meeting followed after one held on August 10 when the Opposition leader started the talks of expansion in Nyanza with the Unaitas officials.
"I had a breakfast meeting with officials of the Unaitas Sacco during which we discussed plans of investment in Nyanza," he tweeted then.
He hailed the meeting as part of his and President Uhuru Kenyatta's commitment to the Building Bridges initiative.
Unaitas Sacco board members with Ida Odinga during a breakfast at the latter's home in Opoda, Bondo, Siaya county on Sunday, September 23, 2018. /COURTESY
Unaitas was launched in 1993, then known as Murang’a Tea Growers, to serve tea growers.
The financial institution changed the name to Muramati in 2007 and later rebranded to Unaitas in 2012.
Also read:
Public relations and customer care officer Sam Otieno said the sacco's Kisumu branch has been operational for the past two months.
He said the launch coincides with the sacco's Silver Jubilee celebrations.
Otieno said more branches will be opened in Nyanza, Western, Eastern, and Coast regions.
"Our strategic plan is to open five branches annually. In this region, we target to open branches in Siaya, Homa Bay, Migori, Kakamega and Busia."
The official said the sacco has a strong membership of 400,000 in Kenya, US, Asia and Europe. "Actually, 16 per cent of our members are in the diaspora."
"In this region, we shall partner with local saccos to empower them financially. Fish farmers and fishermen who have been exploited by middlemen will benefit from our products," Otieno said.
He further revealed that a moratorium has already been deposited at the Central Bank of Kenya to transform the sacco into a commercial bank.
Unaitas CEO Tony Mwangi said the expansion plans are the result of increased demand for financial services.
Mwangi said there are more opportunities from devolution, urbanisation and a young population keen on entrepreneurship.
Unaitas disbursed more than Sh2 billion in loans to 5,000 groups (chamas) last year.