HARAMBEE SACCO HARAMBEE CO-OPERATIVE SAVINGS & CREDIT SOCIETY LTD. (Registered as a credit society) Tel: 343766/343815/343822/343823/343827/343830/343861 311047/318399/315989/315990/315991/315992 FaxNo.2216326 When replying please quote: P.O. Box 47815 00100 -G.P.O. NAIROBI Ref. No. HAR/ADM/Nomination Corr./2015 and date 16 th March 2016 TO ALLNAIROBI ELECTORAL ZONES YEAR2016 HARAMBEE SACCO DELEGATES Dear All, REF: INVITATION TO SUBMIT APPLICATIONS FOR NOMINATION AS 2016 BOARD AND SUPERVISORY COMMITTEE ELECTION CANDIDATES The manner in which Savings and Credit Co-operative Societies (Saccos)in Kenya are led and managed drastically changed with the passing of the Sacco Societies Act, 2008 and the Sacco Society (Deposit-Taking Sacco Business) Regulations, 2010 and especially the Deposit Taking Saccosi.e.those that offerFront Office(FOSA)services to their members. In this regard, See.4(2)(a) of the said Regulations requires that persons proposed to serve as directors and senior management in a deposit-taking Sacco should meet the requirements of the 'fit and proper test'. This is as set out in Forms 1 & 2 in the First Schedule to these Regulations. To ensure adherence with this requirement, deposit-taking Saccos are expected by the Sacco Societies Regulatory Authority (SASRA) to create Nomination Committees. Nomination Committees are expected to provide a mechanism of vetting candidates for elections to the Board and Supervisory Committee to ensure compliance with the said requirements. Harambee Sacco has defined clearly the criteria for election of Board and Supervisory Committee members in Clauses 49 and 75 respectively of the Society's By-Laws. To this end the Board and Supervisory Committee Electoral process were amended to ensure Page -1- of 2
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HARAMBEESACCO
HARAMBEE CO-OPERATIVE SAVINGS & CREDIT SOCIETY LTD.(Registered as a credit society)
TO ALLNAIROBI ELECTORAL ZONES YEAR 2016HARAMBEE SACCO DELEGATES
Dear All,
REF: INVITATION TO SUBMIT APPLICATIONS FOR NOMINATION AS 2016BOARD AND SUPERVISORY COMMITTEE ELECTION CANDIDATES
The manner in which Savings and Credit Co-operative Societies (Saccos) in Kenya are ledand managed drastically changed with the passing of the Sacco Societies Act, 2008 andthe Sacco Society (Deposit-Taking Sacco Business) Regulations, 2010 and especially theDeposit Taking Saccos i.e. those that offer Front Office (FOSA) services to their members.
In this regard, See. 4(2)(a) of the said Regulations requires that persons proposed to serveas directors and senior management in a deposit-taking Sacco should meet therequirements of the 'fit and proper test'. This is as set out in Forms 1 & 2 in the FirstSchedule to these Regulations. To ensure adherence with this requirement, deposit-takingSaccos are expected by the Sacco Societies Regulatory Authority (SASRA) to createNomination Committees. Nomination Committees are expected to provide a mechanismof vetting candidates for elections to the Board and Supervisory Committee to ensurecompliance with the said requirements.
Harambee Sacco has defined clearly the criteria for election of Board and SupervisoryCommittee members in Clauses 49 and 75 respectively of the Society's By-Laws. To thisend the Board and Supervisory Committee Electoral process were amended to ensure
Page -1- of 2
that the process will involve submission of 'Applications for Nomination as Board orSupervisory Committee Election Candidates', by eligible and interested delegates.
In line with the above, the Society is now receiving applications for nomination fromeligible delegates who are interested to vie for Board and Supervisory Committeepositions at the forthcoming Annual Delegates Meeting (ADM) 2016. In this regard, thereare five (5)vacancies that candidates can apply to be nominated for. Four (4)vacancies inthe Board, that is three (3)by rotation and one (1)vacant position; and one (1)vacancy inthe Supervisory Committee by rotation.
The applications should be made in the prescribed format, (interested candidates shoulddownload the prescribed forms from the Society's website - www.harambeesacco.com)and should be submitted to the Office of the Chief Executive Officer (CEO) at HarambeeCo-op Plaza, 4th £loorby close of business (5.00p.m.) on 8th April 2016.
Delegates submitting nominations should ensure that they sign the register provided forin the Chief Executive Officer's office indicating that their applications have beenreceived. Additionally, the envelope as well as the application for nomination shouldclearly indicate the vacancy that the delegate is applying to be nominated for i.e. eitherBoard or Supervisory Committee.
Upon receipt of the applications, the ominations Committee will vet the applications foradherence with the requirements of the said 'Fit and Proper Test', as well as therequirements laid down in Section 49, 50(a) and (b) and 75 of the Society's By-Laws.Names of qualifying candidates will then be submitted to the Returning Officer forpresentation at the Society's Annual Delegates Meeting (ADM) 2016.
We look forward to receiving your applications by the set date.
Yours faithfully,FOR HARAMBEE C - PERATIVE SOCIETYLTD,
PETERN. NDEGWACHIEF EXECUTIVE
NB: Forms to be downloaded
I. Appendix 1 - Prescribed Format For Submission of Applications forNomination as Board Or Supervisory Committee Election Candidates
II. Appendix 2 - Nominations Process and Criteria as set out in Sections 49, 50 (a) &(b), 51, 52, 53 and 75 of the Society By-Laws