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62 Pages«<59606162>
UNAITAS
guru267
#1201 Posted : Tuesday, March 10, 2020 1:36:33 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
target1360 wrote:
heri wrote:
https://www.businessdailyafrica.com/corporate/companies/Unaitas-Sacco-drops-its-bank-dream/4003102-5484896-4gvfvr/index.html

Bure kabisa . Happy i never bought alot of shares

and they think 7% dividend return is good enough


i do not think that they were keen on converting to a bank in te first place.
If they were keen they would have done so a long time ago.

this is kenya


On this one I blame CBKs freeze on issuing new banking licenses
Mark 12:29
Deuteronomy 4:16
Nifiche
#1202 Posted : Monday, March 30, 2020 2:39:24 PM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
It's finally that time of the year again... For those in the know, any word on FY2019 dividends?
If you think you can you're right; if you think you can't you're right.
xtina
#1203 Posted : Monday, March 30, 2020 6:38:39 PM
Rank: Member


Joined: 6/26/2008
Posts: 330
Nifiche wrote:
It's finally that time of the year again... For those in the know, any word on FY2019 dividends?


Either 7% or 9%
dudeitswilliam
#1204 Posted : Monday, March 30, 2020 10:11:35 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Havent received any communication back from them regarding dividend payment. Quick question, this is from the Business Daily- 'Unaitas boss says that the sacco is targeting to increase membership from 300,000 to 750,000 and raise asset base from current Sh13 billion to 32 billion in the next five years'
Will this be from selling shares or increasing deposits?
Nifiche
#1205 Posted : Tuesday, March 31, 2020 12:43:56 AM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
xtina wrote:
Nifiche wrote:
It's finally that time of the year again... For those in the know, any word on FY2019 dividends?


Either 7% or 9%


Sawa thanks, wacha tungojee tuone.
If you think you can you're right; if you think you can't you're right.
Nifiche
#1206 Posted : Tuesday, March 31, 2020 10:29:20 AM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
dudeitswilliam wrote:
Havent received any communication back from them regarding dividend payment. Quick question, this is from the Business Daily- 'Unaitas boss says that the sacco is targeting to increase membership from 300,000 to 750,000 and raise asset base from current Sh13 billion to 32 billion in the next five years'
Will this be from selling shares or increasing deposits?


Probably both would be my guess. Lakini I wonder what incentive there is to buy UNAITAS shares. Even the zero risk government bonds return more than these bottomless shares. And at least with a bond you can sell and re-direct your investment elsewhere.
If you think you can you're right; if you think you can't you're right.
dudeitswilliam
#1207 Posted : Tuesday, March 31, 2020 5:20:36 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Nifiche wrote:
dudeitswilliam wrote:
Havent received any communication back from them regarding dividend payment. Quick question, this is from the Business Daily- 'Unaitas boss says that the sacco is targeting to increase membership from 300,000 to 750,000 and raise asset base from current Sh13 billion to 32 billion in the next five years'
Will this be from selling shares or increasing deposits?


Probably both would be my guess. Lakini I wonder what incentive there is to buy UNAITAS shares. Even the zero risk government bonds return more than these bottomless shares. And at least with a bond you can sell and re-direct your investment elsewhere.


There is still the incentive that they will convert to become a bank eventually though they did not mention that in the article. As for now they will remain a sacco until 2023. It will probably be worthwhile for long term investors, just eating or reinvesting the dividends. But as of now it is like purchasing a life policy, you cannot get back your money until maturity. And with a life policy you are guaranteed the principal, here once they list the shares might lose value due to them selling bottomless shares. They seriously need to explain to investors what their plan is.
Nifiche
#1208 Posted : Tuesday, March 31, 2020 7:07:28 PM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
Havent received any communication back from them regarding dividend payment. Quick question, this is from the Business Daily- 'Unaitas boss says that the sacco is targeting to increase membership from 300,000 to 750,000 and raise asset base from current Sh13 billion to 32 billion in the next five years'
Will this be from selling shares or increasing deposits?


Probably both would be my guess. Lakini I wonder what incentive there is to buy UNAITAS shares. Even the zero risk government bonds return more than these bottomless shares. And at least with a bond you can sell and re-direct your investment elsewhere.


There is still the incentive that they will convert to become a bank eventually though they did not mention that in the article. As for now they will remain a sacco until 2023. It will probably be worthwhile for long term investors, just eating or reinvesting the dividends. But as of now it is like purchasing a life policy, you cannot get back your money until maturity. And with a life policy you are guaranteed the principal, here once they list the shares might lose value due to them selling bottomless shares. They seriously need to explain to investors what their plan is.


If this is true it's better IMHO to wait until 2023 and buy shares then. In the meantime the cash can be channeled to other investments with lower risk and higher returns like T-bonds.smile

I fully agree, this sacco has a terrible communication policy and a poor track record of informing investors. Sad
If you think you can you're right; if you think you can't you're right.
dudeitswilliam
#1209 Posted : Thursday, April 02, 2020 4:48:37 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Nifiche wrote:
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
Havent received any communication back from them regarding dividend payment. Quick question, this is from the Business Daily- 'Unaitas boss says that the sacco is targeting to increase membership from 300,000 to 750,000 and raise asset base from current Sh13 billion to 32 billion in the next five years'
Will this be from selling shares or increasing deposits?


Probably both would be my guess. Lakini I wonder what incentive there is to buy UNAITAS shares. Even the zero risk government bonds return more than these bottomless shares. And at least with a bond you can sell and re-direct your investment elsewhere.


There is still the incentive that they will convert to become a bank eventually though they did not mention that in the article. As for now they will remain a sacco until 2023. It will probably be worthwhile for long term investors, just eating or reinvesting the dividends. But as of now it is like purchasing a life policy, you cannot get back your money until maturity. And with a life policy you are guaranteed the principal, here once they list the shares might lose value due to them selling bottomless shares. They seriously need to explain to investors what their plan is.


If this is true it's better IMHO to wait until 2023 and buy shares then. In the meantime the cash can be channeled to other investments with lower risk and higher returns like T-bonds.smile

I fully agree, this sacco has a terrible communication policy and a poor track record of informing investors. Sad


I got a message saying that dividends are being paid tomorrow but they did not tell me the percentage even after asking. Might you happen to know?
gatoho
#1210 Posted : Friday, April 03, 2020 7:27:50 AM
Rank: Member


Joined: 1/1/2010
Posts: 506
Location: kandara, Murang'a
Got a text saying will be deposited today but no mention of the rate
Foresight..
xtina
#1211 Posted : Friday, April 03, 2020 10:12:59 AM
Rank: Member


Joined: 6/26/2008
Posts: 330
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.
dudeitswilliam
#1212 Posted : Friday, April 03, 2020 11:28:53 AM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


Just talked to one of their customer service agents, 7%
Speculz
#1213 Posted : Friday, April 03, 2020 1:25:28 PM
Rank: Member


Joined: 5/6/2011
Posts: 388
Location: Nairobi
Funds now available in the Dividend account.
"You can't have everything. Where would you put it?" - Stephen Wright
Nifiche
#1214 Posted : Friday, April 03, 2020 4:20:49 PM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious
If you think you can you're right; if you think you can't you're right.
dudeitswilliam
#1215 Posted : Friday, April 03, 2020 5:24:03 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


They has very poor communication with clients. A re their customer service uninformed or they are told not to provide information? They need to be transparent. I'll end up in therapy because of Unaitas d'oh!
dudeitswilliam
#1216 Posted : Friday, April 03, 2020 8:18:20 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


@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
dudeitswilliam
#1217 Posted : Friday, April 03, 2020 8:29:32 PM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


@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


Of course this is after clear communication of their plans/growth strategy/whether they will increase dividend payments/how they will split the shares once they list on nse(I need info on that) up to 2023. Oh and I was also told that they gave 3% bonus dividend for memebers with savings accounts or sacco deposits. Though they did not clarify whether this is added to the 7% to make it 10% or its 3% of the deposits/savings.
Nifiche
#1218 Posted : Saturday, April 04, 2020 8:25:21 AM
Rank: New-farer


Joined: 4/8/2019
Posts: 14
dudeitswilliam wrote:
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


@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


Of course this is after clear communication of their plans/growth strategy/whether they will increase dividend payments/how they will split the shares once they list on nse(I need info on that) up to 2023. Oh and I was also told that they gave 3% bonus dividend for memebers with savings accounts or sacco deposits. Though they did not clarify whether this is added to the 7% to make it 10% or its 3% of the deposits/savings.


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...
If you think you can you're right; if you think you can't you're right.
dudeitswilliam
#1219 Posted : Saturday, April 04, 2020 8:49:11 AM
Rank: New-farer


Joined: 11/7/2018
Posts: 17
Location: Kenya
Nifiche wrote:
dudeitswilliam wrote:
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


@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


Of course this is after clear communication of their plans/growth strategy/whether they will increase dividend payments/how they will split the shares once they list on nse(I need info on that) up to 2023. Oh and I was also told that they gave 3% bonus dividend for memebers with savings accounts or sacco deposits. Though they did not clarify whether this is added to the 7% to make it 10% or its 3% of the deposits/savings.


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...


True, its currently a 'funga macho and roll dice' situation. It is annoying that even when you visit one of their branches, the customer service does not offer you the information. Isnt there a law stating that this information should be shared with shareholders? Because I'm sure there is something we can do. They cant keep shareholders in the dark and operate like everything is ok.
xtina
#1220 Posted : Sunday, April 05, 2020 3:09:45 PM
Rank: Member


Joined: 6/26/2008
Posts: 330
dudeitswilliam wrote:
Nifiche wrote:
dudeitswilliam wrote:
xtina wrote:
gatoho wrote:
Got a text saying will be deposited today but no mention of the rate


They have a terrible communication policy. Shareholders should not have to google or call to find out the rate. No mention of it on their social media pages either.


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. Anxious


@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


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.
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