Just talked to one of their customer service agents, 7%

Thanks for the info @dudeitswilliam. Hebu wacha niende nikawithdraw.

Their poor communication and constant shifting of goalposts has seriously eroded my confidence in this sacco.

@nifiche @xtina How would you apply this “Fearful when others are greedy and greedy when others are fearful.” in regards to Unaitas? Deep down inside I still think its a good buy with the hope that it'll become a bank

The only thing I know with certainty about UNAITAS is the share price. And even this appears to be arbitrary and disconnected from market dynamics. The management and original shareholders hold all the cards: there's zero communication to investors and no financial reporting that I can find. And it only seems to get worse every year.

Due to the lack of transparency, its impossible to calculate anything else. What is the value? No idea. When can we monetise? No idea. Potential return? No idea. Are others being greedy or fearful on this one? No idea. Should I be greedy or fearful on this one? No idea, but its probably one to avoid like the plague.

Conclusion: I'm equally in the dark. I share your opinion that it may turn out well, but I also think that for the moment putting money in here is a 'funga macho and roll the dice' plan.

If someone it better informed, please enlighten us...

I like that they try to be innovative, for example, their focus on chamas and SMEs (remember their TV show Unaitas Chamas?). They are trying to be a bank and the moratorium put by CBK slowed them down (not Unaitas' fault however). I also like that their dividends are 'low' therefore sustainable compared to other saccos which give 12%-15% but have rumors of mismanagement; the high dividends are meant to attract more to the slaughterhouse.

That being said, I feel they should really try to be a 'proper' bank and leave behind sacco tendencies. They are not Metropolitan sacco or other those funny saccos. For example, the new CEO is Martin Muhoho but Tony Mwangi has never updated his Linkedin profile that reads he is still CEO. If you google, for a minute you will be confused who really is the CEO. Small stuff but very annoying and tells you a lot about how they run their things. The financial reports are never availed on time and you almost have to beg to get them.

I still have my shares, most of which were from reinvesting the dividends but the last two years nimekula hizo dividends. All my money will go to NSE/other investments until post-2022 as I have more faith there than Unaitas.