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Governance and Management


The General Assembly (GA) of shareholders is the supreme organ of the Company.  The

company is managed by a Board of Directors appointed by the GA for a maximum period of

three years renewable for a maximum of two consecutive times. 


The composition of the Board is at least 5 members that are independent andwith varied

experience in finance, Government, NGO specialists, Private institutions and Consultants

in development.




The Board creates and delegates powers to different committees as provided for by the by laws and regulations governing financial

institutions (FIs).  However, supervision of the company through services of external and internal mechanisms remains its sole



The Board meets on Notice chaired by the Chairperson or Vice Chairperson in the absence of the Chairperson.  The Board and its

Committees meet regularly, at least on a quarterly basis. The Board appoints the Managing Director (MD), an expert in Microfinance

(MF) and the heads of departments of UF Ltd.  The MD in turn appoints other staff that assists in the day-to-day management of the



However, the Board determines the number of staff to be recruited, their duties, remunerations and terms and conditions of service.  

The committees are independent but work in synergy to ensure that UCU is well managed and its operations have impact on the rural

population, especially women and youth.