Unaitas Gets Ksh 1 Billion Funding For “Growth Oriented Enterprises”

Unaitas has received one billion shillings from OikoCredit in a partnership the company says will help it fund growth-oriented enterprises. The company says the cash will be used to lend to Small Medium Enterprises (SMEs) in Kenya.

The funds are part of the Sacco and Dutch PE firm’s efforts to help firms recover from an economic fallout caused by the Covid-19 pandemic that has led to massive layoffs, pay cuts, and shutdowns amid a decline in sales and customer traffic.

“As we launch the Unaitas SME Support Fund together with our partners Oikocredit, we have the conviction that the fund will propel SMEs into a recovery path and rapid growth. We commit to sustaining our business growth through member-focused service delivery,” Unaitas Board of Directors Chairman James Kinoro said.

Unitas said they have had a long relationship with the Dutch firm and will rely on its history in funding small businesses shunned by other lenders.

“Unaitas has been a partner of Oikocredit since 1997 when the savings cooperative borrowed Sh40 million ($370, 370). Through this new loan of Sh1 billion, we are determined to drive financial inclusion in an underserved market,” Oikocredit East Africa Investments Manager Caroline Mulwa said.

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