As we had informed you earlier on the recent changes that have taken place in the SACCO industry and the impact that these changes pose to Kanisa SACCO following the coming into effect of “THE SACCO SOCIETIES (NON-DEPOSIT-TAKING BUSINESS) REGULATIONS, 2020 on 1st January 2021,” the following have been done: –
- SASRA Requirements – as approved at the last AGM, we have acquired the new licence as per the SASRA guidelines however there is much more required especially on the capital adequacy and we will be coming back to you with proposals on raising our capital to meet the required threshold.
- Kanisa SACCO registration certificate has been updated as required under these regulations and moving forward the Society will be known as “Kanisa Regulated Non WTD Savings and Credit Cooperative Society Ltd”.
- By-Laws – the Society’s by laws have were amended as per the resolutions passed in the last AGM and have been approved and registered by the commissioner of cooperatives. They are as attached.
- Updated Policies: – all our policies have been updated in line with the provisions of regulations 2020 which will enhance our operations to enable us serve you better.
- Feedback Handling – As we try to improve and offer the best services to our members we have introduced a new email on feedback from our members especially on complains and complements. feedback@kanisa-sacco.org. There is also a feedback book in the SACCO office. We encourage all members to feel free to always engage the society especially on our services.
- Sub Committees: As required in regulation 2020, we have reorganised the sub committees as required by the law where each committee will have three persons as follows: – Finance and Administration Committee, Credit and Risk Management Committee and Education & Business Development Committee.