FSN-USESA Merger

Following deliberations from both FSN and USESA boards, Independent Special General Meeting were held that endorsed a merger of the two entities
At the FSN-USESA AGM held on 24th November 2017 at Hotel Imperial Royale, Kampala, the Chairman of the Steering Committee, Dr Daniel Bogere, highlighted the achievements of the Steering Committee, namely:  the signing of the Merger Agreement between the two entities (FSN & USESA), and securing registration and licensing from the Ministry of Trade, Industry and Cooperatives among others. “SteadFin Uganda US Staff Mission SACCO Ltd” was officially unveiled as the merged entity

SteadFin Uganda US Staff Mission SACCO Ltd is to derive its mandate from the Co-operative Societies Act 1991, Cap 112, and its By-laws.  Its affairs are to be directed by the Board as provided for in the by-laws, and report to the Annual General Assembly (AGM). 

The Project Manager, David Nanambi Wakyiku from Asigma Capital, wished the new entity Godspeed, assured the members: “This will be beneficial for all members, with greater returns expected as a result of this merger, for the SACCO members.” Assurance was given to the members on the successful merging of the entities and policies, processes and regulations which were already in place.

With a combined membership of over 850 members from both FSN and USESA, SteadFin will strategically be serving a diverse membership coming from the five US Mission agencies.
Under the leadership of a Chief Executive Officer, a management team was recruited to foresee the day to day operations of the SACCO. The AGM also voted in a Board of Directors to oversee the governance of the SACCO

Mr. Benjamin Mukasa, SteadFin Chief Executive Officer reported the strategic objectives of the new entity as member welfare, credit and investments.

As a new entity, the SACCO is set to attract more strategic alliances as it seeks to achieve its strategic objectives.

SteadFin Uganda US Staff Mission SACCO Ltd AGM  

SteadFin Uganda US Staff Mission SACCO Ltd is to hold its first annual General Meeting on Saturday 11th May 2018 at hotel Africana, Nile hall starting 1:00pm-5:30pm 

Registering as the first AGM for the recently merged entity, identified key areas, according to the Chief Executive Officer will be Policy review and approval, approval of the Operational Plan and budget for the year 2018 among others.

The Board of Directors is also focused on presenting the audited financials as at 31st December 2018 and Unveiling of the new MIS platform and website.
 

Add new comment