Unaitas opens 3 outlets in hunt for revenue

Micro loans lender, Unaitas, has opened three new branches aiming to grow its revenue through signing up of more customers.

They are located in Kisii, Embu and Meru.

Unaitas Chief executive officer Tony Mwangi said plans are underway to open two more outlets in Kisumu and Eldoret.

“The move to expand Unaitas’ footprint is a result of increased demand for financial services in these towns whose economies are growing thanks to increased opportunities from devolution, urbanisation and a young enterprising population,” said the CEO in a statement.

READ: Unaitas loans over Sh2bn in plan to transform chamas

Mr Mwangi added the new branches will take services closer to members in addition to mobile banking, agency banking and ATM access.

Unaitas disbursed over Sh2 billion in loans to 5,000 groups (chamas) last year.

Mr Mwangi said said only about 3.4 per cent of the 5,000 chamas defaulted on payments compared to 10.6 per cent for the lending industry as at end of October 2017.