Timange Modern Concepts Cooperative
Timange Modern Concept Cooperative is a real estate investment Cooperative for indigenous Malawians living in and outside the country. It provides an ideal vehicle and opportunity for Malawians to invest in real estate property development and earn rental income from returns on the investments, to be duly shared by its members and all stakeholders.
Our Vision
Our cooperative vision is to develop small to medium-scale commercial real estate development and provide affordable commercial rental properties for small to medium-sized businesses in the country to benefit all Malawians.
MISSION
Our mission is to become a dynamic, independent, member-run, focused real estate cooperative that offers premium, competitive housing products and services that exceed the expectations of our members and customers. Delivered by a proficient and highly esteemed team of driven management. With motivated leadership focused on raising members’ socioeconomic standing and the general welfare in the community where we are doing business through:
- Systematically identifying and meeting the fundamental needs of our members.
- Investing in commercial real estate development in prime real estate areas of the country.
- Focus on real estate that generates positive cash flow to benefit the cooperative and its members financially.
- Conducting proper due diligence to ensure a successful real estate business venture.
- Encouraging strategic alliances that help our cooperative ventures flourish and ensure sustainability.
- Promoting the development of cutting-edge, ecologically friendly building techniques.
- Apply innovative project management techniques before and while undertaking construction services.
COOPERATIVE OBJECTIVE
The Society’s objectives are to promote its members’ economic and social welfare through the provision of effective services according to sound business and cooperative principles.
As a land development Cooperative Society, Timange Modern Concepts has
unique objectives:
- To offer shares to Malawians worldwide as a source of pooled capital and then finance real estate development projects to rent them out to members. All while maximizing society’s profits at a reasonable risk and meeting operational costs or needs.
- To actively contribute to the economic improvement of the cooperative’s members by equitably distributing the net surplus as patronage refund and compensation on capital contributed. In addition, partly keep the net surplus in the reserve fund.
- To proactively engage our members, and the community at large on new initiatives and how the society can actively participate in other sectors of our country’s economy.
- To be a member-funded, member-run, voluntary association governed by democratic principles. Each member has one vote irrespective of the total number of shares held.
- Not to engage in politics or be affiliated with any political party
- To establish mutually beneficial relationships with other organizations involved in land development and other sectors of the economy to promote common interests.
- To serve the interest of members, promote self-help, social responsibility, mutual help and economic development.
- To foster human development among members, leaders, employees, and people in the community, thus improving their social and economic quality of life.
- To engage in developments that are eco-friendly by using resource-efficient and environmentally friendly resources that have minimal impact on global warming.
- To provide other services that would enhance the achievements of the society’s objectives.
(TMC) CORE VALUES
At Timange Modern Concept Cooperative, five core principles inspire and drive the Business.Our culture is built around the understanding that we are all responsible for each other.We endeavour to create a workplace where everyone is valued and respected.We embrace five core values that sustain our focus and foster effective working and Team spirit.
These encompass:
1. Integrity
TMC commits to demonstrating honesty, diligence, fairness, good character, moral values and sound behavior in all business dealings. An attribute that displays courage and generates the mental stamina to do what is right at the right time, with confidence and resolution. Even in the face of temptation and/or adversity, in all interactions amongst stakeholders.
2. Excellence
TMC reflects high standards and class.
We strive to excel as we pride ourselves on delivering premium quality products/ services. Our commitment is backed up by a passionate, driven, and credible workforce with a skill mix capable of providing effective solutions. TMC will transform the lives of staff, members, community, and clients. Ultimately support the achievement of investment goals.
3. Transparency
Open access with clear communication lines; sharing of knowledge, information, and innovative ideas amongst members, employees, and stakeholders. TMC Promotes and creates a fertile environment to encourage personal growth alongside collaborative working; to attain common goals.
4. Mutual Respect & Dignity
Always treat each other equally, respectfully and in a dignified manner. We listen because every voice and individual matters. Being open to change offers flexibility and adaptability in different settings to fit stakeholders’ priorities equitably.
5. Safety & Wellbeing
TMC holds a Duty of Care over all stakeholders. Thus, seek to create a safe and comfortable environment for employees to work in and for members, clients, and stakeholders. Our Duty of Care is beyond physical safety and thus includes mental, emotional, and psychological wellness.
Who planted the seed for Timange Modern Concepts
Timange modern concepts started in Jan 2021 when Ken Mselema made a comment on the Let’s Build Malawi Facebook page that what if a group of people come together and invest MK100,000 each to build apartments?
This discussion had so many comments, and group members decided to start a WhatsApp group to see how they could make this brilliant idea a reality.
A meeting was set up on a Saturday morning. The first WhatsApp voice call meeting was nothing short of a disaster; so many dropped calls and network issues thus we could not hear each other appropriately. However, the group persisted; Bishop Shanks Kaunda suggested that the next meeting should be conducted on zoom; we can use his account. It went smoothly, and from there on, very fruitful and serious discussions ensued.
During the initial meeting, we discussed how we want to set up the business structure – either register as a corporation or cooperative. We had legal guidance in the group – Amidu advised the group to follow the cooperative structure as it’s easier to set up and manage. A corporation has many demands, and a few individuals can easily take over control by purchasing the majority shares. We wanted a structure in that members have shared ownership and control.
We registered the cooperative in December 2021. One of the requirements before registration was to have our members trained by the Ministry of Trade Cooperative trainers. Three six-hour training sessions were conducted, and we have video recordings.
First interim committee
Chairperson: Pachalo Mkandawire
Assistant Chairperson: Alice Gwedeza
Tresurer: Zondiwe Kadango
Secretary: Ken Mselema
Here are Timange Coop’s founding members:
- Shanks Kaunda
- Saulots Kachitsa
- Catherine Mwafuliwra
- Andrew Sapawo
- Laurine Mtewa
- Alice Gwedeza
- Zondiwe Kadango
- Maggie Mkosi
- James Sinkoko
- Cynthia
- Tsitsi Kachimwala
- Hon. Sam Kawale
- Ken Mselema
- Tumasile Chilunga
- Sam Chidothee
- Pachalo Mkandawire
- Muwuso Mkochi
- Kondwani Nyirongo
- Upile Tulape Chilunga
The following members joined the interim committee in 2022
Wesley Msiska
Charlie Msusa
Mac Mvula
Stella Mutoni Khone
Malizani Kamowa
Prince Chibwana
Brandon Mafuleka
Rute Na Msiska
Victor Mtawali
Pao Mbewe
Mama Rose Nyirenda
Davie Mkandawire
Daliso Mzinganjira
Dr. Linley Karltun
We also offer a big thank you to our two co-builds Whatsapp groups. Our members were there the entire time, offering valuable suggestions and picking the Logo. They were part of the creative team and process.
Many people were involved in creating Timange Modern Concepts Cooperative. Without them, it would not have been possible. We thank everyone for their tireless insight, out-of-the-box and creative contribution to making the Timange coop a reality.
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The management committee shall have the overall management of the affairs of the society. In addition… Read More »Powers and Duties Of The Management Committee
FAQs
You can’t vote and be involved in the coop’s decision-making process.
Yes. Members are owners who help guide the business and benefit from profit-sharing.
Membership is open to Malawians in and outside the country, which is the age of majority are 18 years of age and older.
It’s easy to become a member. Complete a Membership Application form available on our website (if available), pay membership fees and purchase at least one share of the Co-op.
It is K20,000 per annum.
Once a member completes a share purchase, they get a coop number.
No, you are required to pay the membership fee at one with the admin/processing fee, BUT you can pay for share purchase in instalments. For instance, you can pay a K25,000 membership + admin fee at once, but you have 90 days to complete a share purchase to become a full member with voting rights.
We will keep the service fee paid but refund all your funds paid for the share purchase and the registration fees.