WHO WE ARE
We all have this grand idea of increasing our net worth through various means among them being investments. TRANSCOUNT Cooperative was thus formed to help accelerate this process. The idea begun with a meeting of like-minded individuals held on the 2nd of July 2016 in Nairobi to brainstorm on the most convenient vehicle that would help actualize this idea. After tabling various suggestions, it was agreed that the suitable option was to start with the formation of this cooperative society into which all members would subscribe with a minimum of 1000 shares of Kshs. 100 in value each.
TRANSCOUNT is thus a registered Cooperative under The Cooperative Societies Act CAP 490, Laws of Kenya. The society has therefore drafted its own by laws which guide matters such us; Membership, minimum joining share capital for new members, and other clauses defining how the society affairs are legally run. We endeavor to always operate within the law. Membership eligibility is for any person above 18 years of age. Joining requirements are listed under the FAQS portal.
WHAT WE DO
The society carries out its business activities using funds raised from members’ paid up capital and deposits.
The TRANSCOUNT business activities as detailed in its objectives are focused around but are not limited to the following areas:
- Real estate
- Micro lending
- Transportation and logistics business
- Retail business and any other legal business as specified in the society`s by laws.
The society continues to dutifully hold annual general meetings in its endeavor to engage its members in open forums where the audited annual accounts are tabled and new office bearers are elected. Dividends are paid out to members whenever profits are declared and approved by the AGM.
VISION AND MISSION
To be the investment group of choice and a Market leader in wealth creation.
To harness the organization’s capital and other resources for the purpose of wealth creation by way of investments and eventual mutual benefit of the Society`s members.
Transparency: At TRANSCOUNT we value transparency since this enables to master the ability to see through to the heart of issues and investments.
Integrity: At TRANSCOUNT we do what we say in the service to our members and other forms of engagement with our stakeholders.
Unity: We approach our activities as a united team upon the realization that this can illuminate the whole earth.
Prosperity: At TRANSCOUNT we seek to achieve the goals of our members through enabling the formation of the vacuum to receive prosperity as a starting point.
Innovative: Our future growth relies on innovation.
The idea of forming an investment group cropped up during a family gathering in Machakos town. While in the process of disbanding a funeral organizing committee, members thought it would be a good idea to focus onto something else now that the committee objectives had been achieved. In mid June a follow up meeting was held at a city restaurant and a unanimous decision was arrived at to form an all encompassing investment group. Several names were floated and TRANSCOUNT was adopted as the group’s name. An application was sent to the registrar and we received positive feedback with a registration certificate in December 2016.
At inception stage the plan was to form a company with members purchasing shares but this was shelved upon realization that the legal and regulatory requirements were too demanding and the business scope would be too narrow to serve the wider investments agenda that was being pursued. It was agreed that this would be revisited in future when the necessary framework is in place and conditions been met. As activity grows we shall then form a group holding company to be the ultimate supervisor of all the sectors and various activities Trans-Count will be involved in.
The objectives of TC as spelt out in the by- laws are mainly to raise fund for the purpose of investing in ventures that besides growing the society’s capital will also reward members returns on their investment in the form of dividends. Funds have been raised by directly sending this to a bank account. There are no cash collections but cash is directly deposited into the bank account using mobile banking, over the counter deposits or other bank transfer channels. Upon payment of the registration fee of Kshs. 5,000 one is now allowed to purchase the minimum shareholding which currently stands at Kshs. 100,000.
Catherine Muthoni Maingi
FREQUENTLY ASKED QUESTIONS
P. O. Box 8820-00300 Nairobi, Kenya.
Phone: +254 720 871409/+254 713 660241
Email: email@example.com / firstname.lastname@example.org
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