Democratically Owned, Professionally Managed, Independently Audited
Nafasi operates under the supreme democratic authority of its members, strictly adhering to the Cooperative Societies Act CAP 112 (1991), Cooperative Societies Regulations 1992, and our 10-Year Strategic Plan (2024–2034).
Democratically Owned, Supervised & Audited
Nafasi is democratically governed under cooperative laws and regulations (CAP 112). Supreme authority is vested in the Annual General Assembly where every member holds one vote in person.
Annual General Assembly (AGM)
Supreme authority of the cooperative society. Every member has the right to attend and exercise one vote in person on all cooperative affairs, audit reports, and resolutions.
Executive Committee
Elected from members during the Annual General Assembly to steer strategic direction, formulate operational policies, approve investments, and oversee management execution.
Supervisory Committee (SUPCO)
An autonomous oversight committee elected by the AGM, answering directly to members, ensuring regulatory compliance, internal financial audits, and protection of member assets.
Vetting Committee (VC)
Elected committee responsible for vetting new membership admissions, evaluating leadership candidates, and maintaining high ethical standards across the cooperative.
Strategic Plan & Regulatory Filings
Explore our official 10-Year Strategic Plan, MTIC permanent registration certificate, registered bye-laws, and annual audited reports.
Ministry of Trade, Industry & Cooperatives Statutory Registration Certificate (CAP 112)
Nafasi Multipurpose Cooperative Society Registered Bye-Laws
Credit Facility & Loan Underwriting Policy Guidelines
Executive Committee & Board
Elected representatives entrusted by members to steward collective capital and uphold cooperative values.
Board Chairperson
Executive Board Chair
Providing overall strategic direction, statutory reporting, and presiding over the Annual General Assembly.
Vice Chairperson
Operations & Member Relations
Directing member onboarding protocols, education masterclasses, and cooperative branch engagements.
Honorary Treasurer
Finance & Risk Committee
Overseeing prudential liquidity ratios, investment appraisals, financial books, and dividend modeling.
Supervisory Chair
Audit & Compliance Oversight
Leading independent quarterly internal audits, compliance verifications, and reporting directly to the AGM.
Fiduciary Leadership in Action
Experience the democratic rigor and active leadership directing Nafasi Multipurpose Cooperative Society Limited.
Democratic Keynotes & Member Assemblies
Our leadership actively presents annual audited balance sheets, dividend declarations, and member policies in open assemblies ensuring every member retains complete visibility over their cooperative equity.
- Direct member question & answer sessions
- Democratic voting on resolutions & dividend payout ratios
- Open tabling of external auditor reports
Fiduciary Deliberations & Risk Governance
The Board of Directors convenes quarterly to enforce regulatory compliance with the Ministry of Trade, evaluate asset-backed portfolio risk, and sanction cooperative development funds.
- Prudential liquidity & loan portfolio risk reviews
- Independent supervisory committee verification
- Strategic syndication for institutional asset acquisition
Executive Committee & Strategic Planning
Elected committee leaders review member proposals, fine-tune loan products under the 2026 Charter, and track progress toward our 10-Year Strategic Plan targets.
- Elected member representatives from all operational clusters
- Formal debate on member credit policies and interest rates
- Full transparency and record archiving for regulatory inspection
Annual Plenary Assemblies & Statutory Voting
The plenary assembly exercises supreme authority over the cooperative. Every member possesses one equal vote to elect directors, approve annual surplus distributions, and appoint independent statutory auditors.
- Direct democratic one-member-one-vote election of directors
- Ratification of annual net dividend allocations
- Sovereign oversight over external statutory audit findings