MuCoBa Organization Structure
The Annual General Meeting is the highest organ of MuCoBa and is held once per year. Then there is the Board of Directors. Under the board there is the General Manager who is the Chief Executive Officer of MuCoBa. Between the Board and the General Manager there is an Internal Auditor who functionally reports to the Board and administratively to the General Manager. The General Manager is assisted by four senior officers. These are the Finance Manager, the Credit Manager, the Operations Manager and the Information Technology (IT) Administrator. Other staff members are within the respective departments.
MuCoBa's board of directors balances financial expertise with community interest and development orientation. It meets 4 times a year. By march 2009, the composition of the board of directors of MuCoBa was as follows:
|1.||Mr. Attilio Mohele||BA, MA (Economics)||Chairman|
|2.||Hon. Joseph Mungai (MP)||Dipl. (Econ), MPA||Member|
|3.||Mr. Hashim Kalinga||BA (Ed.), MCED||Member|
|4.||Mr. Golden Saga||Cert. of T. Education||Member|
|5.||Mr. Israel Ndanshau||BSc., MBA||Member|
|6.||Mr. Basil Mkwata||LLB.||Member|
|7.||Mr. Erasto Kiwale||LLB, ADPA||Member|
By march 2009, the composition of the management team of MuCoBa was as follows:
|1.||Mr. Danny Mpogole||BA (Econ), MSc. (Finance)||General Manager|
|2.||Mr. Ben Mahenge||ADA, PGDA||Finance Manager|
|3.||Mr. Paul Busasi||ADA, PGDFM||Operations Manager|
|4.||Mr. Eleuter Malangalila||ACSEE, CCNA||Ag. Credit Manager|
|5.||Mr. Magesa Mafuru||ADCA, MBA (Finance & Banking)||Internal Auditor|
MuCoBa started with share capital of Tshs 50 Million (which was a minimum amount to start a community bank). The Founding Members were Mufindi Education Trust (MET), Mufindi District Council, Incomet Ltd, Incofin Tanzania, MET and Incomet Workers’ SACCOS, Mufindi Teachers’ SACCOS and Hon. J. Mungai, the MP and founding Chaiperson. As of December 2008, MuCoBa had share capital of Tshs 201.5 Million with a mixed combination of shareholders including NGOs, companies, Mufindi District Council, SACCOS and many individuals.
By December 2008, the composition of shareholding of MuCoBa was as follows:
|Sl.No.||Group of Shareholding||Percentage|
|1.||Mufindi Education Trust (MET)||42%|
|2.||Co operatives / SACCOS||28%|
|4.||Mufindi District Council||7%|
By the same period MuCoBa had 403,276 paid up shares of Tshs 500/= each. Authorised shares of MuCoBa are 2,400,000 of Tshs 500/= each.
MuCoBa is continuing to attract new shareholders in order to widen ownership structure on one side and increase share capital, on the other.