Head of legal | Stima Investment Co-operative

Damaris Mutile Munyao
Head of legal | Stima Investment Co-operative
Team size: Two
Q&A
What are the most significant cases or transactions that your legal team has recently been involved in?
Over the past year, I have led strategic transactions and concluded longstanding disputes that have advanced the Society’s investment portfolio while safeguarding the interests of our members.
The most significant has been the development of a KShs 1.2 billion mixed-use residential development, where I led the legal work from due diligence and feasibility assessment through to project financing, conveyancing, regulatory approvals and legal oversight during construction. With the project now approaching completion and handover, it has been rewarding to see legal strategy contribute to the successful delivery of a landmark development.
I advised on the acquisition of 50 acres of land for subdivision and sale to our members, leading due diligence, project financing, conveyancing, subdivision and the legal framework required to bring the development to market. Through strategic value addition, the property has appreciated significantly and is now valued at over KShs 700 million, strengthening the Society’s investment portfolio.
I concluded two landmark litigation matters involving the Society’s historical investment portfolio. The first concerned our Lamu project, after a decade of proceedings that commenced in 2016 and culminated in a successful Court of Appeal decision this year, safeguarding the interests of over 350 members and investors. I also secured judgment in favour of the Society in litigation concerning our Nakuru project, protecting the interests of more than 200 members and investors.
Our motto, “Tajirisha Member,” reflects our purpose, and these achievements have been driven by understanding the Society’s commercial objectives.
In light of increasing regulatory scrutiny across sectors in East Africa, how are you adapting your compliance frameworks to stay ahead of change?
Regulatory compliance must evolve alongside our business strategy and I have embedded compliance throughout the investment lifecycle rather than treating it as a stand-alone legal function. This requires continuous monitoring of legislative and regulatory developments across the sectors in which the Society operates.
I led the assessment of the proposed Co-operatives Bill, reviewed the Society’s governance framework, prepared amendments to our by-laws and guided member approval at the 2026 Annual General Meeting, positioning the Society for a seamless transition once the legislation comes into force.
As a member-owned organisation, I led the review of our internal processes, contractual arrangements and data handling practices to strengthen compliance with the Data Protection Act.
As the Society expands into residential developments, I work with project teams and consultants to ensure compliance with applicable planning, construction and regulatory requirements, including the National Building Code 2024, reducing regulatory risk from early concept planning through to project handover.
How is the role of the General Counsel evolving in East Africa as organisations place greater emphasis on governance, transparency and ESG considerations?
Across East Africa, the role of the General Counsel has evolved beyond providing legal advice to becoming a strategic business partner, driven by increasing expectations around governance, accountability and sustainable business practices.
Through my role as Chair of the Society’s Management-led Strategic Plan Review Committee, I have contributed beyond traditional legal advisory work by participating in governance discussions, investment planning and strategic decision-making. I believe effective in-house counsel must understand not only the law but also how to align legal strategy with an organisation’s commercial objectives to protect its assets, preserve stakeholder confidence and create long-term value.