The Afya Cooperative Savings and Credit Society Limited has announced a series of major resolutions following its Special Delegates Meeting (SDM) held on November 7, 2025. The meeting, chaired by Chief Executive Officer Lwanga Mbeche, addressed critical financial and governance matters affecting members and the society’s future operations.
Delegates approved the non-payment of dividends on share capital for the financial year ending December 31, 2024. Similarly, they endorsed the non-payment of interest on member deposits for the same period, citing the need to strengthen the society’s cash reserves.
In line with this, the meeting also approved the transfer of Kshs 125 million from net surplus after-tax reserves, a move aimed at reinforcing the SACCO’s financial stability.
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Delegates also resolved that the society’s borrowing powers be retained at Kshs 5 billion for the year 2025, ensuring continued access to credit facilities to support operations and member services.
The meeting further approved the revised budget for 2025 and adopted the proposed budget for 2026, setting the financial roadmap for the next two years.
In matters of accountability, Mwangi & Kamwara Associates were appointed as the SACCO’s external auditors for 2025, while PricewaterhouseCoopers (PwC) was selected to conduct a forensic audit over a ten-year period.
Delegates also endorsed a further charge of Kshs 249 million on the Afya Centre Building to cover loans owed to the Cooperative Bank.
Mbeche thanked delegates for their active participation and constructive deliberations during the meeting. He encouraged members seeking further clarification to reach out via ceo@afyasacco.com, assuring them of the society’s dedication to openness and accountability.
By Masaki Enock
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