Guidelines for Formation of a Cooperative Society
- Buy Co-operative Bye laws. A set of 4(four) books is:
- Shs.15000/= for savings & Credit byelaws
- Shs. 10000/=for multi-purpose bye laws
- Minimum Statutory number of members is 30. However, the more the better for viability.
- Fill bye laws.
- Get a recommendation letter from the District Co-operatives/Commercial Officer of your area of operation.
- Compile financial statement of the Society (Income & Expenditure + Balance Sheet).
A comprehensive schedule of all shareholders showing shares held by each member.
It includes entrance fees, shares, saving, and loans if any.
- Buy a copy of the co-operative societies Act, Cap 112 and the Co-operative Societies Regulations.
- Enclose photographs of irrespective people to handle the Society’s accounts
- Registration fee shs 50000/= Account No. 6000010330 Barclays Bank IPS Branch Account
Name: Audit and Supervision Fund