Maisha Bora Sacco Society Ltd is governed by the constitution of Kenya; Acts of Parliament and the rules and regulations made therein; the Sacco by-laws and the policies of the Sacco.


The highest decision making organ of the Sacco is the Annual General Meeting (AGM) which elects nine (9) officials from amongst the members to sit in the board as directors and an oversight (Supervisory) Committee of three (3) members. The board is the governing body of the Sacco and includes the Chairman, Vice chairman, Treasurer and Honorary Secretary who are elected by the board from amongst the members of the board. Members of the board hold office for a period of three (3) years with one-third of the board members retiring every year but are eligible for re-election. There is a Nominating Committee to vet and clear the prospective candidates for elections.


The BOD operates through specialized sub-committees responsible for various society activities as under:-


Supervisory Committee
The Supervisory Committee consists of three members who must not be employees of the Society's or serving on the Management Committee or any other Committee of the Society.


The Supervisory Committee is responsible for the Society's compliance and internal control and oversight. It is also responsible for the truth and accuracy of the Society's financial condition, and for making sure that the Society's administrative practices and procedures are adequate to safeguard the members' and the Society's rights and interest.


The supervisory committee counter checks the effectiveness of the society’s internal controls through:-
•    Verification of all transactions of the Sacco society
•    Writing periodic report to be tabled at board meetings
•    Presenting its reports to general meeting


Finance and Administration Committee
FINAD Committee duties are to:-
•    Review and make recommendations to the board on the financial plans of the Sacco and ensure their adequacy and soundness in providing for the Sacco Society current operations and long term stability.
•    Review, discuss and make recommendations to the board concerning significant financial planning, management and reporting issues of the Sacco society

Credit Committee
The Credit Committee holds such meetings as the business of the Society may reasonably require.
The credit committee’s duties are to:-
•    Ensure establishment and review of appropriate credit policy consistent with the relevant provisions of the Regulations and by-laws.
•    Ensure that the problem in loan accounts are adequately identified and classified as prescribed in the Regulations.

Education Committee
Education committee duties among others are:
•    Review and recommend education programs for members, board members, and the management for approval by the board.
•    Monitor implementation of educational programs formulated to ensure that the members and the board are well trained and prepared for the tasks they are entrusted with.


Audit Committee
The audit committee has a duty to:
•    Ensure establishment and review of the internal control system.
•    Review performance and findings of the internal auditor and recommend remedial actions regularly and at least once in every three months.

Working Hours : Mon - Fri 8.30am to 4.30pm; Last Saturday of the month 9.00am to 12.30 pm. Closed on Weekends & Public Holidays
 
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