On 16th February, 2023, KARUSCO Sacco held its 11th AGM. It was a colorful ceremony held physically at the Karatina University Conference Hall where at least 130 members attended. An online link was also active via Google Meet
The ceremony saw the long serving Chairman Prof. John Mwaruvie willingly retire after having led the Sacco for a decade. He commended members by his slogan ‘Hongera kwako, wewe ni Member’. He said it was a good transitional period and urged members to continue to patronize KARUSCO.
The KARUSCO members approved to be paid the interest on deposits at 7.9% while the dividends were paid out at 10%.
As per its bylaws, three Board of Management out of seven were elected via Secret Ballot (Dr. Richard Kiai, Mr. Joseph Miano Kabethi and Eva Mumbi Nyaga). Supervisory Committee Chairman Prof. Josephat Kinyanjui was also re-elected. All elected members were awarded with KARUSCO’s Election Certificate as per policies.
The ceremony was graced by Cooperative Bank, Taifa Sacco, ABSA Bank and Mureithi Valuers Limited. Present was the Nyeri County Senior Cooperative Officer Mr. Francis W. Kiiru and The Nyeri County Cooperative Auditor Mr. Josphat Munyao. In attendance were selected Bachelor of Business Management 4th Year Students who were on a Learning Experience for Sacco Management.
During the 11th AGM, KARUSCO commemorated its 10 years anniversary by cutting a cake that was enjoyed by all members present. The 12th AGM will be held in the year 2024.