Unaitas Kenya has acquired a 1 Billion KSH with Oikocredit in support of Small and Medium Enterprises in Agribusiness.
The deal was announced on Monday 12th July 2021 and Unaitas mentioned that the deal is targeting to fund about 5000 MSMEs as they recover from the Covid-19 pandemic.
The deal’s target is MSMEs in agriculture. ”These enterprises include farmers’ groups and cooperatives, individual farmers, farm input dealers and transporters.”
The firms added that the fund will help the enterprises grow economically and help propel SMEs towards recovery.
Unaitas and Oikocredit Partnership
Unaitas and Oikocredit have been in partnership since 1997 supporting each firm’s business growth. Through this financing deal, Unaitas is committed to sustaining its business growth through member-focused service delivery.
Unaitas Kenya started as a tea farmers’ SACCO in Murang’a and has now expanded to accommodate other enterprises besides tea farmers.
“Their unapologetic focus on smallholder farmers, low income housing and small and medium enterprises, resonates with Oikocredit’s mission of providing financial access to low income households and supporting employment generation.” Caroline Mulwa, Oikocredit’s Investments manager East Africa.
“We will endeavor to remain customer-centric and continue in our journey of investing in cutting-edge technology and remain a great friend and partner.” Martin Muhoho, Unaitas CEO.