The Annual General Meeting (AGM) serves as the cornerstone of corporate governance for NASASA Financial Co-operative. It provides our valued shareholders with the opportunity to:

• • Exercise Democratic Rights: Vote on critical matters affecting the future of our co-operative
  • Review Performance: Examine financial reports and strategic objectives for transparency
  • Shape Leadership: Participate in the election of new board directors
  • Voice Concerns: Raise matters and submit questions for board consideration
  • Ensure Accountability: Hold the board accountable for their stewardship of member funds

• NASASA Financial Co-operative bids farewell to many of its founding directors who have served with distinction since our establishment. Their vision, dedication, and leadership have laid the foundation for our success and growth as a premier financial co-operative serving the stokvel community.

  As we honor their contributions, we now call upon our shareholders to step forward and take an active role in shaping the future of NASASA FC by participating in the formation of our new Board of Directors.

NATIONAL STOKVEL ASSOCIATION OF SOUTH AFRICA
FINANCIAL PRIMARY CO-OPERATIVE LIMITED
(“NASASA FC”)
Registration No. 2020/006455/24
Certificate No: CFI0024

NOTICE IS HEREBY GIVEN THAT the third Annual General Meeting of the shareholders will be held virtually on:

1. Voting of New Board of Directors   
2. Presentation of Board Report
3. Presentation of financial objectives of the NASASA FC
4. Committee Reports
5. Matters arising as per member submission

To ensure transparency, fairness, and democratic participation in the election of new board directors, the following framework has been established:

1. Nomination Process

• Eligibility: All shareholders in good standing may nominate candidates or self-nominate
• Submission Deadline: Nominations must be received by 18 August 2025
• Required Documentation: Completed nomination form, candidate CV, and consent letter
• Minimum Requirements: 3+ years membership, clean financial record, relevant experience

2. Candidate Vetting

• Background Verification: Financial history and character references
• Skills Assessment: Evaluation of relevant qualifications and experience
• Conflict of Interest: Declaration and review of potential conflicts
• Publication: Approved candidate profiles shared with shareholders by 20 August 2025

3. Election Process

• Voting Method: Secure electronic voting during the AGM
• Candidate Presentations: 5-minute presentations by each candidate
• Q&A Session: Shareholder questions to candidates
• Secret Ballot: Anonymous voting to ensure privacy

4. Board Composition

• Board Size: 7 directors (including Chairperson)
• Positions: Chairperson, Vice-Chairperson, Secretary, Treasurer, 3 General Directors
• Term Duration: 2-year terms with possibility of re-election
• Skills Matrix: Balanced representation across finance, law, cooperative management, and community leadership

5. Post-Election Process

• • Results Announcement: Immediate announcement of results
  • Orientation: Comprehensive board induction program
  • Transition Period: 30-day handover from outgoing directors
  • First Board Meeting: Within 14 days of election

Ready to serve on the NASASA FC Board of Directors? Submit your nomination or nominate a qualified candidate by following the guidelines below: