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1st Annual General Meeting for Contractors SACCO

Date Posted 2017-08-24

THE CONTRACTORS` SACCO

UNABCEC is a non-profit member driven organisation that brings together Genuine Building and Civil engineering contractors, construction related manufacturers and suppliers.

UNABCEC has set up a multi-purpose Cooperative for its members to enable its membership enjoy the numerous benefits it will offer.

Vision:

To provide effective financial solutions to members by ensuring high quality prompt and affordable credit to members.

Mission:

To be the leading Contractor`s financial institution in mobilising savings and providing dedicated financial products and services to its members.

Proposed Cooperative Membership

The following group qualify for Membership;

I. Construction companies

II. Individual directors of companies

III. Employee of construction companies

IV. Family Members of principles

V. Building suppliers manufacturers and sellers

Objectives of the Cooperative

The primary objective of the cooperative is to provide a forum where members are able to pool their ideas and financial resources in order to attain increased savings, investments, productivity and improve their purchasing power.

Specific Objective include the following

  1. Encourage regular savings amongst members with a view to build up or generate a pool of funds for the benefit of companies, the company owners as well as their employees.

 

  1. Build up a guarantee fund to cushion individual business as well as support contractors` bids requirement 

 

  1. Be a basis for negotiating for favorable lending terms by the member businesses with other financial institutions in the country.

 

  1. Complement other UNABCEC activities in advocacy and policy reform.

 

  1. Engage in investment ventures to broaden business opportunities for members

 

  1. Take other measures designed to encourage the spirit and practice of cooperation and self –help among members.

 

Benefits the SACCO is set to offer include;

  • Save, and have high return on savings
  • Instant access to low interest loan funding and also
  • Access to individual or company loans with less or no collateral security
  • Encourage of joint investment ventures
  • Access to the Society’s welfare facilities and resources

  How to a Member

PARTICULARS

INDIVIDUAL

CORPORATE COMPANIES

Entry Fees (One off)

50,000

100,000

Stationery

20,000

50,000

Price Per Share

 

 

  • Ordinary

20,000

1,000,000

  • Silver

100,000

2,000,000

  • Gold

250,000

5,000,000

  • Platinum

500,000

10,000,000

Minimum no. of shares

3

1

Maximum no. of Shares

25

10

 

The following documents will be required for registration;

  1. A dully filled application form ( Available at the Secretariat)
  2. Copy of National Identity Card for individuals, employees, etc
  3. Three recent Passport Photos for individuals, employees, etc
  4. Copy of Registration Certificate, Company TIN, Company Directors` verification details for companies.
  5. Payment of entry fees, stationery and purchase of shares for all.
  6. Currently UNABCEC Certificate for companies.
  7. Letters of recommendation from company Chief Executive Officers in the case of employees and staff companies/UNABCEC

Registration is currently ongoing at the Secretariat.

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