By Our Reporter
Savings and credit firm Unaitas has opened a new branch in Kisii town in a strategic move aimed at increasing its footprint countrywide.
This will enable it to bring into its fold smallholder tea farmers through agency banking and further bring stiff competition in a region with over 20 financial institutions.
Chief Executive Officer Tonny Mwangi said that they will target tea farmers by conducting training on savings.
“We will provide knowledge platforms including partnering with other service providers to ensure farmers are provided with the right information,” he said.
He said that through this model, they will have a competitive edge over other players involved in chama banking.
Mr Mwangi argued that they have an unmatched delivery model for chama financing and capacity building, hence the reason to open a new branch in the region.
Opening a new branch in Kisii town, he observed, was largely informed by the area’s agri-based economy.
The region is a key producer of bananas, maize, tea, coffee, dairy, horticulture with some farmers in financial saving groups.
Most importantly was lack of access to banking services for their clients in the area, who bank in Nairobi and lack the same in the region.
Launched in 1993 to serve tea growers and then known as Murang’a Tea Growers, the financial institution changed the name to Muramati in 2007 and later rebranded to Unaitas in 2012.