WHO OWNS AND RUNS A SACCOS?
WHO OWNS AND RUNS A SACCOS?
Members are the heart of a SACCOS and are the reasons for the SACCOS’s existence. The members are the owners of a SACCOS.
A SACCOS is a democratically run and controlled organization. The affairs of a SACCOS are managed and administered by Management Board elected at Annual General Meeting.
It is this board that hires a Manager and support staff to run the day to day operations of a SACCOS.
GENERAL SACCOS VALUES
Cooperatives are based on the values of self help, self responsibility, democracy, equality, equity and solidarity. Cooperative members believe in ethical values of honesty, openness, social responsibility and caring for others.
GENERAL SACCOS PRINCIPLES
• Voluntary and Open Membership
Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, with no discrimination against others.
• Democratic Member Control
Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies decision making.
• Member Economic Participation
Members contribute equitable to and democratically control the capital of their cooperative and allocate surpluses for developing the cooperative, benefiting members in proportion to their participation and contribution.
• Autonomy and Independence
Cooperatives are autonomous, self help organizations controlled by their membership. They enter into agreements or raise capital on terms that ensure democratic control of their members.
• Provision of Education, training and Information
Cooperatives provide education and training for their members, and employees so they can contribute effectively to the development of their cooperative, and inform the general public about the nature and importance of cooperatives
• Cooperation among Cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local and international structures.
• Concern for the Community
While focusing on member needs, cooperatives work for the sustainable development of their communities through policies accepted by their members.
As an independent entity it has its own set of rules that govern the operations of the SACCOS. These include Cooperative Act, the Bye Laws and Policies.
• The Cooperative Act is a broad set of rules that is enacted by the parliament. It specifies general guidelines that govern the running of all cooperatives.
• Saccos Bye Laws is a set of rules that are made by the SACCOS itself and are derived from the Cooperative Act general guidelines to ensure the ALL saccos are operating within the frame of the laws of Botswana.
• A policy is a set of rules that guide the day to day operations of a particular function in an institution. Such policies include Loan policy, Funeral Policy, Investment Policy, and Personnel policies.