By Boniface Mulu
Tens of thousands of members of the Kitui Town-based Univision DT Savings and Credit Cooperative Society Limited attended their society’s 48th annual general meeting on Saturday, January 25, 2025. The event was held at Ithookwe Primary School in the Kitui Central District, Kitui County, with Cooperative Bank of Kenya Director Vincent Marangu serving as the chief guest.
In his speech, the society’s Chairman, Reverend Augustus Munuve, emphasized the importance of share capital as a long-term investment that drives the sacco’s business. “The sacco has an annual initiative of motivating the top share capital holders to encourage members to take advantage of benefits such as owning the sacco, possessing voting rights, earning dividends, and strengthening the institution’s growth,” Munuve said.
He noted, “Last year, we trained 52 members on financial literacy who held share capital of 750,000 shillings and above. This year, in August 2025, the sacco will motivate share capital holders with one million shillings and above. In future, the board has approved international training on financial literacy for shareholders with five million shillings and above. I encourage members to take advantage of these opportunities,” Munuve said.
He announced that the sacco closed the year with a total asset base of 11.5 billion shillings, up from 10.1 billion in 2023, representing a 14% growth in assets. Member deposits grew by 11%, closing the year at 6.2 billion shillings, up from 5.6 billion in 2023. The sacco currently has 51,000 members.
The organization, formerly known as the Kitui Teachers Savings and Credit Cooperative Society Limited, was established in 1976 and serves Kenya’s Ukambani region (Kitui, Machakos, and Makueni Counties). Munuve announced that the sacco has enhanced its four satellite offices, transforming them into strategic business units (SBUs) to better serve members. “We propose expanding our branch network to other regions in Kenya, including Voi (Taita Taveta County), Changamwe (Mombasa County), Lower Yatta, Mutitu, Kavisuni, and Nguni (all in Kitui County). This will improve accessibility and promote financial inclusion,” he said.
He added that the sacco currently has eight branches, with Matuu in Machakos County approved by SASRA (Savings Societies Regulatory Authority) to become the ninth branch. Additionally, six strategic business units operate as sacco agencies. Munuve highlighted the success of last year’s member education programs and urged members to continue attending in large numbers.
On corporate social responsibility (CSR), Munuve stated that the sacco supports the less fortunate and bright but needy students. “Last year, we visited 11 centers and sponsored five needy students,” he said. He also requested that the sacco’s borrowing power be set at 500 million shillings. Reflecting on the loss of 105 members in 2024, he said, “While we accept God’s will, it is our desire as an organization to walk with all our members throughout the year without losing anyone because our members are our greatest and most valuable asset. Let us rise and observe a moment of silence in honor of the departed souls.”
Munuve expressed gratitude to members for their support, saying, “We appreciate your patronage of sacco services and products and promise to serve you better. To all stakeholders, partners, and staff, thank you for your tireless efforts to make Univision Sacco a brand of choice for powering dreams.”
Kitui County Trade, Industry, and Cooperatives Development Minister Rose Mawia Mutuku also addressed the function, congratulating the Univision Sacco management for its excellent leadership. “I bring greetings from our governor, Dr. Julius Makau Malombe, who is very proud of the Univision Sacco,” Mutuku said. She revealed that Kitui County has 169,660 cooperators and 437 active cooperatives.
Makueni County Devolution, Public Participation, County Administration, and Special Programmes Minister Nicholas Masila Nzioka also addressed the event. Nzioka, who is also the acting Makueni County Trade, Marketing, Industry, Culture, and Tourism Minister, was among several speakers.
KNUT Kitui County Executive Secretary Simon Mutunga Nding’o and Chairman Samuel Kathinuku also spoke. Kathinuku praised the sacco’s management under Reverend Munuve, saying, “The sacco has extended its reach beyond Kitui. Our unity is stronger than any atomic weapon.”
Kathinuku also urged the Teachers Service Commission (TSC) to address teacher promotions and called for the revival of the National School Feeding Programme to benefit children.
The chief guest, Vincent Marangu, lauded the sacco’s growth and leadership. “Everyone looks at Univision Sacco with pride. I am very happy to see its growth,” he said, encouraging members to transfer their bank accounts to the sacco. He noted, “Univision Sacco distributes 56% of dividends back to members. Your money is coming back to you.”
Other notable speakers included Kitui County Cooperatives Chief Officer Paul Ngei Monyi, County Cooperatives Director Sammy Kasanga Musomba, and KUPPET Kitui County Vice Chairman Dickson Muthui, representing KUPPET Kitui County Executive Secretary Kioko Mutia.
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