The public offer was looking to raise at least KES 100M according to the chairman statement in page 6 of the information memorandum. It has achieved 70% subscription rate:

Amount raised before suspension of offer: KES 65,015,171 (of which KES 31,182,364 was from non members and KES 33,832,807 was from members)
Amount raised after suspension was lifted: KES 4,586,275

Total amount raised: KES 69,601,446 (65,015,171 + 4,586,275)

Subscription rate: 70% (69,601,446/100,000,000)

Are there plans to convert into a bank and list on the stock exchange?
In the banking sector, you are under the Central Bank of Kenya (CBK) and the capital requirement is Sh1
billion, but in the Sacco
sector it is Sh10 million so the first impediment is share capital.
Secondly, Saccos are started and run as member organisations. The perception from members is that if you
convert into a bank they will not get cheap loans.
CBK governs the Central
Bank Rate and you will
somehow be governed by this rate as a bank.
The problem is that people believe that when you want to deposit money, you go to a bank and when you want a
loan you go to a Sacco
because rates are affordable.
However, the most important thing is providing accessible
services to our members
within the current laws. If the laws are not progressive we will have every reason to
convert into a bank, but if they are conducive we will have no business changing.
We have been consulting and I am sure we will make the right decision.
http://www.businessdaily.../1/-/r3vw7/-/index.html

Doesn't sound too positive on that front, does he?

http://www.facebook.com/unaitas?ref=stream

and now tonight they are in Movers and shakers....

Just wondering when, may be when it will be "who owns Unaitas"...

Never say die.

and when is the AGM, we need dividends..!!!

thank God I boarded the right plane.

Unaitas set to open four new branches in growth plan

http://www.standardmedia...-branches-in-growth-plan