Governance

OUR GOVERNANCE STRUCTURE

The Annual General Meeting (AGM) is the Supreme decision making organ of the SACCO. It is mandated to perform the following functions;

  • Approve annual budgets and financial reports
  • Elect the board of directors and the supervisory committee
  • Approve maximum liability.
  • Approve the external auditors
THE BOARD OF DIRECTORS (BOD)

The BOD is comprised of nine members. It is the governing authority of the SACCO elected by the Annual General Meeting (AGM). The BOD reports to the Annual General Meeting / Assembly (AGM). The BOD has members with multiple professional backgrounds ranging from business management, governance, planning, social work to agriculturists.  Over the period, the Board has undergone various trainings in governance, financial report analysis and interpretation, policy formulation, risk management and internal controls.  On the overall, the Board is responsible for policy formulation through developing, enacting and reviewing policies and operational guidelines. The BOD also recruits the management team that provides the daily overseer role to the institution operations. Other functions and responsibilities of the Board are provided in the byelaws.

In the discharge of its duties and responsibilities, the board delegates some of its functions to its sub-committees. Currently, there are six sub-committees namely:

  1. The Executive
  2. The Loans and Supervision
  3. The Finance & Planning
  4. The Procurement and Asset Disposal
  5. The Education, Mobilization and Publicity
  6. The Human Resource

While the Board membership is composed of knowledgeable and experienced people, it is quite evident that there are certain areas where they may need support to carry out their oversight role. Such areas include aspects of financial analysis and performance measurement and monitoring as well as governance issues. In the next five years, the Board will need to focus more on its traditional roles – policy development, public relations and financial oversight, and staff recruitment through the Human Resource Committee. The Board of Directors shall deliver efficient and effective services to members through engaging and motivating the management team.

THE SUPERVISORY COMMITTEE (SUPCO)

SUPCO provides an oversight supervisory role over the Board and Management on policy implementation and adherence to the standards in the industry. SUPCO directly reports to the AGM and regularly to the Board.