BULLETIN 2019

RELISA HOUSING CO-OPERATIVE SOCIETY LIMITED

P.O. BOX 54217 – 00200, NAIROBI

Tel: 0712 347 235, 0712 347 395

E-Mail: info@relisahousing.co.ke and relisacoop@yahoo.com

BACKGROUND

Relisa Housing Co-operative Society Limited, (formerly Finlay House) was registered as an entity on 21^st December, 1998 drawing its membership from within the common bond, then, members of Reli Sacco Society Limited.

VISION

A leading one-stop Housing Co-operative Society providing diversified products and services.

MISSION

To invest members’ funds in most viable and secure ventures through prudent management to secure maximum returns, growth and sustainability.

CORE VALUES

Integrity
Efficiency
Teamwork
Effectiveness
Professionalism
Transparency
Commitment Timeliness
Equity

OUR MOTTO

“Together, each one achieves”

OBJECTIVE

The objective of Relisa is to help members acquire living accommodation and livelihood at a fair and reasonable price through investment in land and houses.

MEMBERSHIP

The Society recently amended its By-laws and which opened the common bond in order to attract new membership. To be a new member of Relisa, one must be within the following Common Bond;

i) Is a past or present employee of the Kenya Railways Corporation and its Subsidiaries such as; Rift Valley Railways, Railways Training Institute and Kenya Railways Retirees & Pensioners Scheme.
ii) Is a Member of Immediate Family; Parents, Spouse and children of the members, whether or not residing in the same household, including any other person nominated by the member.

iii) Is a nominee upon member’s death or transfer of shares while still alive and approved into membership by the Management Committee.

iv) Employees and past employees of Reli Sacco and Relisa Housing Co-operative Societies and their immediate family members. Provided that they shall not become members of the Management, Supervisory or any other Committee of the Society except as specifically specified in these By-Laws.

How to join Relisa:

You join by first filling in a Membership Application Form which can be found at www.relisahousing.co.ke. The application fee is Kes. 3,000 and the Share Capital is Kes. 20,000 which you can opt to pay via Cash, Standing Order, or M-Pesa – Paybill.

Is it a must that you pay the Kes. 3,000 entrance fee and the Kes. 20,000 Share Capital at once?

You can pay the Kes. 3,000 and Kes. 20,000 at once or in installments as follows;

i) Pay the Kes. 3,000 entrance fee in three installments at Kes. 1,000 per month.

ii) Pay the Kes. 20,000 minimum Share Capital at Kes. 1,000 per month until you reach Kes. 20,000.

Is the Kes. 20,000 the maximum or I can save more?

Kes. 20,000 is the minimum but members are encouraged to save more by way of deposits. Through deposits, you will be able to earn interests and also acquire land / plots and also get loans to develop the same.

MANAGEMENT

For the execution of the Society mandate, as per the Co-operatives Act and the Relisa By-laws, the Society has a Central Management Committee (CMC) / (the Board) comprising of nine members elected on rotation basis every year. The Board has the Executive Committee which comprises the Chairman, Vice-Chairman, Secretary and Treasurer plus five other Committee members. For the oversight role, the Society has a Supervisory Committee comprising of three members. The Manager is an ex-official of both Committees.

The following are the members of the three Committees currently in place;

The Central Management Committee / (the Board):

Is the governing body of the Society and subject to any directions from the Delegates Meeting, it generally directs the affairs / operations of the Society and its current members are:-

Mr. Michael Sande Dallah – Chairman

Mr. Iddi Omari Mwinyi – Vice Chairman

Ms. Sarah A. Kiwanuka – Hon. Secretary

Mr. Stephen O. Juma – Treasurer

Mr. Clement Karani – Member

Mr. Aggrey W. Mbai – Member

Mr. Washington Kulundu – Member

Mr. Phillip A. Wokinda – Member

Pst. Perez Cherop – Member

The Executive Committee / Board:

This Board is charged with the day-to-day operations of the Society and its members are:-

Mr. Michael Sande Dallah – Chairman

Mr. Iddi Omari Mwinyi – Vice Chairman

Ms. Sarah A. Kiwanuka – Hon. Secretary

Mr. Stephen O. Juma – Treasurer

The Supervisory Committee:

This is the watchdog of the general membership charged with over-seeing the operations of the Society and ensuring that the Internal Control System, procedures and operations are effectively and prudently administered. Its current members are:-

Bsp. Raphael B. Omondi Odawa – Chairman

Pst. Margaret Emali – Hon. Secretary

Mr. Jackson Tito Kinyili – Member

INVESTMENTS

Reli Co-op. (Finlay) House:

This is the first project / investment the Society engaged in and is situated at the junction of Hakati Road and Mfangano Street – Nairobi. The property – LR. 209/4988 was bought in 1986 at a cost of Kes. 11.5million and its current cost is Kes. 300.0million as per Valuation Report of May 2019. It is a 6 storey building and is fully let to various tenants. It also hosts our offices on the 6^th Floor.

Members of the CMC, SC and Staff after attending the Strategic Planning Workshop on 8^th & 9^th March, 2019 at the Ambassadeur Hotel – Nairobi. On the background is Reli Co-op. (Finlay) House.

Investments in Nachu and CIC Group Shares:

We invest surplus funds in Shares in NACHU Limited and also in unquoted Shares of CIC Group Limited.

LAND SELLING:

Over the years the Society has created wealth for its members through assisting them to acquire land at strategic locations around Nairobi City at very attractive, below the market prices. So far, we have sold plots in the following areas;

Mavoko / Katani Plots:

Located in Machakos County, 2.6Km off Mombasa Road and next to Mlolongo Town, in a highly developed neighborhood, the plots measured 40 x 60 and each sold at Kes. 65,000/=.

Ruai Plots:

Located in Nairobi City County, right along the Eastern Bypass and 1.0Km off Kangundo Road, the plots measured 40 x 60 and each sold at Kes. 255,000/= for members.

K.B.C. Plots:

The 50 x 100 plots retailed at Kes. 200,000/= for members and Kes. 250,000 for non-members. The plots are 2.0Km from Kangundo Road and behind the KBC Sub-Station in an already developed neighborhood.

NB: Prices inclusive of; Title Deed processing fee and surveying costs

Currently, the Society wants to embark on implementing a 5 year Strategic Plan and which has a lot to do with land buying and selling. More details are explained under the Strategic Plan 2019-2023.

REAL ESTATE DEVELOPMENT FUND:

This is an exciting deposit account that allows members to save up for any future projects. The deposits are withdraw-able and earn interests annually. Holders of this account get priority in allocation of any product on sale by Relisa.

STRATEGIC PLAN 2019-2023:

During its 21^st ADM, Relisa launched its 1^st Strategic Plan, covering the five year period – 2019-2023. This Strategic Plan is a deliberate effort towards realizing the dreams for which the Society was established 20 years ago.

The Plan is focusing on seven key pillars which include:

A strong leadership and governance systems and structures; the Board and Management are committed to providing able leadership and good governance, including making prudent decisions that are risk conscious, to safeguard the Society’s assets.

Massive new membership recruitment through the existing members; to grow membership, retain existing members and improve customer experience.

Diversified products and services; to provide products and services that meet the needs of the members in an efficient and profitable way, increase product marketing to target all eligible customers and improve marketing of the Society’s products and services.

Efficient and professional workforce; points at having a robust workforce that is skilled, qualified and motivated.

Internal and external resource mobilization; to mobilize resources internally from members through Real Estate Development Fund and also external funding in form of loans from the stakeholders such as NACHU and Co-op. Bank.

Innovation and Technology; to invest in a comprehensive ERP, which is capable of handling all operations efficiently, thereby improving on service delivery. It shall also invest in products driven by technology like mobile banking, and on-line marketing.

Partnership and networking with industry stakeholders; promote institutional partnership, external resources mobilization and enhance collaborations

This Strategic Plan aims to help the Society attain higher milestones. We will work towards an Asset Base of Kes. 340.0million, Share Capital of Kes. 30.0million and increasing our membership by 1,000 by the year 2023.

RELISA AWARDED:

During the 91^st International Co-operatives Day – Ushirika Day Celebrations 2013, our Society was named the “Best Housing Co-operative Society in Loan Repayment.” This affirms our commitment to efficiently and effectively administer resources for good return on investments for our members, and sustainable growth.

Our National Chairman – Mr. Michael Sande Dallah receives the Trophy from the Co-operative Development Secretary – Mr. Nelson Githinji.

SHARE CERTIFICATES:

Every member shall be issued with Share Certificate specifying the number of Nominal Shares held and amount thereof.

Upon valuation of the Property, every member shall further be issued with Bonus Shares & Certificates that commensurate to the Market value of the property.

PAYMENTS OF DIVIDENDS:

Following the past changes that took place within the Railways Industry, payment of dividends has always been made in cash at the Head Office and also at the Branches / Depots.

The Delegates, in their last meeting held on 12/04/2019 approved payment of dividends to members amounting to Kes. 5.0million in respect of the financial year 2018 and as resolved by members during the last years’ Branch Annual General Meetings, plans are being put in place to pay the same through M-Pesa by latest Mid-October, 2019.

Members are requested to update their Mobile Numbers with the office to facilitate ease, faster and efficient payment of the dividends in future.