Welcome to Nafasi Multi-Purpose Cooperative Society Limited
Governance Structure of Nafasi
NAFASI, was granted a probationary corporate status for 24 months as required by the statute. After successful operation we shall be granted a permanent status in April 2016.
THE Annual General Meetings(AGM)
NAFASIwill convene an AGM to discuss matters of the cooperative. The AGM will be responsible for electing the board and subcommittees of the cooperative. Depending on the matters arising from the running of
NAFASI, Special General Meetings will be called from time to time.
The current board comprises of the chairperson, vice chairperson, treasurer and the secretary. The board is free to consult experts to guide them on technical matters in the course of their meetings. The board will report to the AGM/ Special General Meetings.
The subcommittee comprises of members of the board, this creation will enable members to focus on specific functions of the society. To enhance professionalism, each sub-committee can co-opt a member with expertise in their ascribed functions.
Members of the Independent Accountability Committee will be elected by the AGM and will perform the internal audit function of the body corporate. If the cooperative bank was functional, NAFASI would have been expected to establish an Audit and supervision fund into which it shall unless exempted by the registrar pay an annual supervision fee.
The secretary to the Society was appointed by the board; the person in this position is a board member.