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In the last few months, there has been an increasing number of savings and credit co-operatives (Saccos) seeking licence to convert into commercial banks, or expressing their interest in acquiring a stake in an already existing institution.
On this list are Mwalimu National Sacco, which has made public its intentions to buy a majority stake in Equatorial Commercial Bank; and Unaitas Sacco, formerly known as Muramati Sacco, which has been on an expansion drive since it rebranded and is looking to enter bigger leagues.
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