Muganga SACCO

General Assembly: March and May 2024

Muganga SACCO Board of Directors recently convened its Ordinary and Extraordinary General Assemblies, marking significant milestones in its journey towards cooperative development and financial empowerment. Here’s a summary of the resolutions passed during these pivotal meetings:

Ordinary General Assembly – March 28, 2024:

The Ordinary General Assembly, held at the Lemigo Hotel, was a platform for comprehensive review and decision-making, as members came together to shape the future of Muganga SACCO. Key resolutions included:

  1. Approval of Reports: The assembly diligently reviewed and approved the reports presented by the Board of Directors, Supervisory Board, Credit Committee, and the external auditor, reflecting the Financial position as at 31 December 2023, Going concern, transparency, and accountability within the cooperative.
  2. Investment of Profits: Members unanimously agreed to reinvest the profit back into the cooperative’s development activities, ensuring sustainable growth and enhanced services for all members.
  3. Appointment of Independent Directors: In line with the National Bank of Rwanda regulations and a demonstration of expertise, three distinguished individuals were elected as independent directors to join both the Board of Directors and the Supervisory Board. Congratulations to Ms. Judith KAZAIRE and Fred MUGISHA, who were elected as Independent Directors on the Board, and Mr. Nehemie ZIMULINDA, who was elected as an Independent Director to the Supervisory Board.   

Extraordinary General Assembly – May 16, 2024:

The Extraordinary General Assembly, conducted virtually, was convened with a specific agenda—to deliberate on the Rwanda Housing Finance Project, widely known as the GIRIWAWE program, a significant partnership initiative with the Development Bank of Rwanda Plc (BRD). The assembly made the following resolution:

  1. Approval of Rwanda Housing Finance Project (RHFP): Following careful consideration and in alignment with the conditions stipulated by the Development Bank of Rwanda, the General Assembly approved the implementation of the Rwanda Housing Finance Project (RHFP), known as GIRIWAWE. This decision underscores Muganga SACCO’s commitment to fostering accessible and affordable housing solutions for its members and the wider community.

Moving Forward:

These resolutions reflect Muganga SACCO’s solid dedication to serving its members and advancing cooperative values. As we embark on the implementation of the GIRIWAWE and continue our journey of growth and prosperity, we extend our gratitude to all members for their active participation, support, and trust.

Stay tuned for more updates as we navigate through these exciting developments together, shaping a brighter future for Muganga SACCO and its members.

For more on both General Assembly meeting resolutions, follow this link.

The Permanent Secretary in the Ministry of Health and the Guest of Honor during the March General Assembly
Chairperson of the Board of Directors during Q&A Session
Director General during Q&A Session
Group Photo after the General Assembly Meeting

For more photos, follow this link.

GIRIWAWE (AFFORDABLE HOUSE LOANS AT 10% INTEREST RATE)

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