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FAQ

  • What are the objectives of ACCOSCA?

    • Represent the African Co-operative Savings and Credit Movement before the Pan African Movement, public and private international organizations and worldwide movements
    • Financial Co-operative representation at the regional and international level; identify, develop, use and give recognition to leadership at all levels of the African Co-operatives Savings and Credit Movement
    • Develop and maintain the best possible relations with the general public, African governments, co- operative bodies and international organizations either directly or indirectly serving co-operative interest
    • To deepen the Co-operative Enterprise by Collaborating with member nations to develop policies that will enhance the establishment of Co-operative Financial and Business Institutions for the benefit of ALL Co- operative members
    • Promote and organize national Co-operative Savings and Credit organizations in liaison with applicable African governments and interested parties
    • Deliver all essential services in establishing and improving operations, maintaining financial stability and fostering the growth of national co-operative savings and credit organizations, towards self-reliance and self-sufficiency of the African Co-operatives Savings and Credit Movement through the most cost effective means.
    • Maintain within the public conscience a climate for co-operative savings and credit legislation beneficial to the general public and the broad objects of Co-operative Savings and Credit Societies and to be alert to advice against adverse legislation
    • Secure constructive interpretation of laws, rules, contracts and other matters for the object of serving the best interests of the African Co-operative Savings and Credit Movement, by counseling with appropriate authorities.
    • Deliver technical services to national co-operatives Savings and Credit organizations on the promotion, organization, operations and potential of their member’s Co-operatives Savings and Credit Societies
    • Implement such central functions for and on behalf of its members for their common benefit
    • Impart higher level of knowledge of the social and economic values of Co-operatives Savings and Credit Societies through education within and outside the African Co-operative Savings and Credit Movement
    • Engage in continuing research as it may apply to all aspects of present and future savings and credit activities.

  •  How do you become a member of ACCOSCA?

    There may be two categories of membership:

    • Full Members- Full Membership may apply to all national organizations (Leagues, Associations, Unions, Federations, Agencies, Promotion Committees) of cooperative savings and credit cooperatives, which operate in or are based on the continent of Africa or any of the off-shore islands and which are recognized by the government in their respective countries as being the organization representing Savings and Credit Cooperatives in that country
    • Associate Members- Associate membership is opened to other stakeholders in the co-operative financial institutions mainly service providers. Associate members cannot buy shares as such do not have voting power.

  • For one to become a member do you need to buy Shares?

    Yes!

    • Every member regardless of size may hold a minimum of two (2) shares which may be non-withdrawable
    • Shares may have a face value of USD 1,000 or as may be determined from time to time by the General meeting and may be paid in full at the time of the application

  • Does the number of shares entitle a member to have additional voting rights?

    The number of Shares may not entitle a member to have additional voting rights

  • What are the official languages of the confederation?

    • English and French may be the official languages of the confederation provided that in case of dispute with the regard to the interpretation of this constitution and by-laws, the English versions may prevail.
    • Additional designation of official languages may be approved by accredited delegates (members) at a General meeting

  • What are the application and admission procedure?

    • Application for membership may be submitted in writing to the Confederation’s Executive Director and may be signed by the President or Chairman and Secretary of the registered national association or promotion committee
    • [li]The application may be accompanied by:[li]

      • Country’s Law/Decree under which the organization is registered
      • National association/promotion committee by-laws/rules.
      • National association/promotion committee’s last annual report and balance sheet
      • Copy of the resolution to join the Confederation passed by the organization’s Board of Directors.
      • The current membership fee MUST accompany the application

    • All required documents may be remitted in one of the official languages of the Confederation
    • Upon receipt of the application and related documents, the Executive Director may make appropriate inquiries and review the submitted documents to verify the legal, financial and national cooperative savings and credit status of the organization, and to ascertain that the objects of the organization are compatible with the Objects of the organization are compatible with the Objects of the Confederation.
    • The submitted application and related documents, along with the report of the Executive Director may be presented to the next scheduled meeting of the Confederation’s Board of Directors
    • The Board of Directors may decide by a record two-thirds vote on approving the application subject to concurrence by the delegates at the next General Meeting of the Confederation’s Board of Directors.
    • In event the Board of Directors reject an application for membership, the organization in question may have the right to appeal at the next General Meeting of the Confederation through the Executive Directors’ Office within 21 Days of receiving such decision

  • What is the cessation of membership procedure?

    • A member may withdraw from the Confederation at any time provided that it has:
      • Met, in full, all its outstanding financial and contractual obligations if any with the Confederation
      • Submitted in writing to the Chairman, Board of Directors the request to withdraw membership and a copy of the resolution. The resolution and transmittal letter must be signed by the members President/Chairman and Secretary.
      • If financial and contractual obligations are outstanding, the Board of Director’s of the Confederation may take whatever actions are considered necessary to collect such obligations before approving the withdrawal of a member

    • Any member organization which has not paid its annual contribution may have its membership terminated unless it has been granted leniency by the Board in terms of Sections (3) and (4) of this article
    • Any request by a member for leniency in meeting its financial obligations may be in writing to the Chairman, Board of Directors of the Confederation and may contain all information required by the Confederation; may be prepared in one of the Confederation’s official languages and may be submitted by no later than 30th June in the year in which the contribution is due
    • The Board of Directors of the Confederation may review and act upon the request for leniency at its regular meeting following receipt of the request
    • In the event, conditions for leniency described under 2 of this Article are not complied with by the member, the Board of Directors may suspend membership until the next Biennial Meeting
    • A member may be expelled from the Confederation for any action which may be held by an ordinary or special general meeting to be inconsistent with the Objects or contrary to the Constitution and By-laws of the Confederation or prejudicial to it
    • Regardless of the cause of withdrawal by the member, all contribution must be paid in full. If contributions not paid in full, the Board of Directors of the Confederation may have the right to take any actions necessary to collect all receivable contribution and to report its actions at the next General Meeting.

  • What are the rights and obligation of members?

    In adherence to article 8 of the constitution, the rights and obligations of members may be:-

    • Abiding by the Objects, the Constitution and By-laws, policies and resolutions of the Confederation
    • Paying in full the annual contribution according to terms stated in ARTICLE 41 of these By-laws.
    • Fulfilling all other financial obligations to the Confederation according to agreed upon terms specified herein or issued by the Confederation
    • Supplying the Confederation with its annual report within three months after the end of the member’s financial year
    • Supporting the sales of publications by the Confederation.
    • Attending, speaking, voting and otherwise participating in all general, special meetings of the Confederation, committee’s task forces or any other activity for and on behalf of the Confederation
    • Nominating and electing a Director or Directors of the Confederations in accordance with these By-laws.
    • Submitting proposals for consideration by the General Meeting, Board of Directors or Executive Director
    • Participating in the financial, technical, services and assistance delivery by the Confederation, receiving from the Confederation all appropriate services and advice, receiving information about the current activities of the Confederation and all printed materials published by it

  • What is considered a general meeting of ACCOSCA?

    The general meeting may be the supreme authority of the Confederation and its decisions and resolutions may be binding upon all members present or absent provided that they were made in conformity with these Constitution and By-laws. The general meeting may be made up of the duly accredited delegates of the members.

  • What are the responsibilities and obligations of general meeting?

    The general meeting may have the following Responsibilities and obligations:

    • Receive and act upon a full and true account of all monies received and paid by the Confederation since the convening of the previous general meeting of the monies remaining by the Confederation at the time of rendering such account, and of all bonds, securities or other property in custody or under the control of the Confederation.
    • Receive and act upon the financial plan, budget and programme of the Confederation for the next two years.
    • Receive and act upon all reports of the Confederation execution and control of the corresponding periods of the Confederation
    • Establish general policies on capital expenditure, finance, technical services, assistance and representation of the Confederation
    • [li]Confirm the members of the Board of Directors nominated and elected by the accredited delegates of the members.

    • Approve proposed modifications and amendments to the By-laws.
    • Confirm any co-opted member of the Board in accordance with ARTICLE 24 of these By-laws.
    • Decide on changes if any of the Confederation’s structure
    • [li]Decide upon the contribution structure and payment schedule of the Confederation

    • Decide on dissolution and liquidation of the Confederation
    • Fix from time to time the maximum amount of money up to which the Confederation may borrow
    • [li]The General Assemble has the right to determine by a simple majority on where the Headquarters is to be located taking care of the interest of the confederation. As an international finance, representation and technical service assistance organization, its area of operation may include all Africa (continental and off- shore islands).

    • The General Assembly has the right to determine nature of incorporation of ACCOSCA

  • What is the composition of board of directors and board of trustee?

    The Board of Directors of the Confederation may consist of: Four (4) Regional Representatives who must be Board Members ,The Chief Executive Office of the host Country and Two CEOs to be appointed by the outgoing ACCOSCA Board and Confirmed by the GM

    • Chairperson who MUST be an elected director from the regions
    • Four Elected Directors each representing a region of the Confederation’s four regions described in ARTICLE 32
    • There may also be Two (2) directors who MUST be Managing Directors/CEOs/General Manager of National Associations to be appointed by the outgoing ACCOSCAS Board and Confirmed by the AGM
    • The Vetting Committee may be the outgoing ACCOSCA
    • No member may have more than one elected person on the Board of Directors
    • Two(2) Managing Director/Chief Executive/General Managers of a large National Association, in terms of membership and assets growth will be appointed in the board.
    • Appointed Members may be subjected to criteria approved by ACCOSCA Board
    • One third Gender Rule, not more than two-third elective of Board Members may be of the same country
    • The Chairperson, Vice-Chairperson, Treasurer and Board Secretary may not be Citizen of the same country.
    • Board of Trustee who may be appointed by the Board may compose of NOT more than three (3) regulators having a Sacco specific legislative body
    • The Board of Trustee functions may be determined by the Board and approved by the General Assembly
    • All Directors must be financially literate or willing to undertake ACCOSCA training and be committed on supporting ACCOSCA agenda in Africa

  •  What is the election and nomination of directors?

    • The position of the Chairperson of the Confederation may be elected to the Board at every biennial meeting by the accredited delegates to the meeting
    • The Four (4) Directors may be elected to the Board by the accredited delegates from the Blocks. The delegates may break into their respective Confederation regions and may elect one candidate to represent the region on the Board
    • Only elected Board members may be eligible to become chairperson. The Vice-Chairperson, the Secretary and the Treasurer to the Board may be elected by the Directors from among themselves
    • Election for the director positions may be attained by secret ballot by all accredited delegates of member organizations
    • Successful election as a Director and an alternate may be attained by receiving the highest and second highest number of votes for the vacant positions
    • A Director who loses his directorship according to ARTICLE 27 of these By-laws may continue to serve as a board member until his term expires. Such a member may not be eligible for re-election.
    • In addition of the provisions contained in these By-laws, the Board of Directors may establish by policy the criteria and requirements needed to become a Director of the Confederation; the procedures and standards for the nomination, election, tenure on the Board and substitution of Directors on retirement as vacancies occur
    • At the time of nomination, the two (2) appointed directors must be Managing Director/Chief Executive/General Manager in their appointing national association
    • The current Board will transform into a vetting committee for purposes of guiding the process of election application. Nominated members profile must be published and circulated to voting members not later than 60 Calendar days before an election date during an electioneering yeat
    • Election process being transparent must include:
      • Call for nominations
      • Candidates Selection Process
      • Candidate profile publication

    • Each Member May in writing submit to ACCOSCA the name and contact details of its delegates and alternates no more than 21 days after appointment and no later than 60 days before the General Meeting.
    • Members may appoint a maximum of two delegates only, to attend the general meeting who may serve at their pleasure in adherence to co-operative principles and ARTICLE 14 on general meetings

  • What are the terms of office?

    • The term of office of each of the four (4) Directors of the Board may be for three (3) years
    • Directors of the Board cannot exceed the two terms of office. They are however eligible for re-election at the expiry of one term provided they and their organizations are in compliance with applicable sections of these By-laws.

  • What is the fiscal year of ACCOSCA?

    The fiscal year of the confederation may be from 1st January to 31st December.

  • Does ACCOSCA have the regions and regional advisory committees?

    Yes!

    • The Confederation may have at least three regions; each region may be formed by not less than four national associations affiliated to the Confederation. At present those regions are: Southern African Region, Western African, Gulf Region and Eastern African

      Each region may have a Regional Advisory Committee composed of:

      • The Confederation Board of Director and alternate of the region
      • The Chairperson or representatives of National Associations
      • Confederation’s CEO or his representative
      • General Managers of National Associations or their representatives

    • The quorum may consist of the simple majority of members of the national associations present

  • What are the duties of regional advisory committees?

    The Regional Advisory Committee may exclusively deal with matters related to the development of the region in which the affiliates operate and more particularly:

    • To provide a forum for the Confederation to identify problems and needs of the affiliates in the region and to design common strategies for regional development thus ensuring that national associations are masters and protagonists in their own destiny
    • To review the Confederation’s regional plans, tailor them to the identified felt needs and suggest what form they should take for maximum effectiveness to the beneficiaries
    • To provide empathy with the Regional Director in the planning process so as to ensure subsequent willing participation in projects and their monitoring and evaluation, and to review the activities of national associations within the region
    • To provide a forum for officials of National Associations within the region where to exchange ideas and experiences and personal acquaintances where the Confederation’s delegate can report back and explain the Board’s decisions and policies to his voters
    • To propose to the Secretariat the region’s nominees to the Confederation in accordance with the By-laws for such offices as;
      • Board members to represent the region
      • Regional delegate if (i) is elected to the Board

    • To recommend to the Secretariat persons who cease to qualify for elective offices in accordance with the By-laws and in particular according to ARTICLE 27(f).
    • To review, and put pressure to bear on contribution payments and hence wield the influence of politics of funding whereby they suggest, for the approval of the Secretariat, for those cause funds should be earmarked and utilized
    • To discuss any other competent business not contrary to ACCOSCA’S By-law pertaining to the welfare of the region and the effectiveness of the movement provided that all agenda has to be approved by the Secretariat
    • Contribute towards the overall direction of ACCOSCA in terms of meeting Objectives and increasing performance