Just in: Mwalimu Sacco ADM resolution on dividends disbursement 2023 & Aspire Bank fate.

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Here is blow by blow summary of the the development.

The following are the key highlights of the
ADM:

1. Dividends:10.5%
2. Interest on rebates:10%
3. Members to increase share capital
   deposit from 20,000 to 30,000. Members can
   use Mhela platfom to boost their shares.
4. 4.The dvidends and rebates to be wired to FOSA accounts tonight. This can be accessed through M-hela or to mobile. 3:24 pm

UPDATES: ADM 2023 highlights

1. Spire bank bought by equity Bank
2. Those who bought shares will be refunded in cash for those who are no longer members and members in shares
   254,000,000/= will be used.
3. All subsidiaries will be closed, only MNS risk management will be left.
4. Membership of above 117,000
5. Asset base of 64 b
6. Capital rates of 10.5% and shares deposit of 10.0%
7. Satelite branches to be installed in some branches.
8. Without subsidiaries, there is an assurance of better rebates and dividends in future.