Timange Modern Concepts Cooperative
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.
What is a Cooperative
A cooperative is an autonomous association of persons united voluntarily to meet their common economic and social needs and aspirations through a democratically controlled enterprise. In other words, cooperatively owned companies are created by people who share a desire to work together to provide services and products that satisfy their needs.
QUALIFICATION OF MEMBERSHIP
Membership is open to:
To all Malawian citizens living within and outside the country who have an interest in real estate and property development
To all individuals who have attained the age of majority eighteen (18) years.
Individuals who are not bankrupt or with a criminal conviction To all individuals capable of purchasing at least one share provided by the Cooperative within ninety (90) days in whole or by instalment
Procedures for Membership Application
An individual who wishes to join the cooperative Society shall submit an application form for membership to the Executive Committee in writing.
Every person shall become a member of the Society upon payment of a total share, administrative fee, and membership fee as may from time to time be determined by the General Meeting.
No member shall exercise the full membership rights in the affairs of the Cooperative until they have acquired at least one fully paid-up share capital of the Co-operative. Membership can be paid either at once or in monthly installments within 90 days (ninety) days from the application date. If a member fails to buy a full share at once or by installment for 90 days, the share owned in part shall be refunded to the owner, but before the refund is initiated, the member shall be notified in writing of the intended action 15 days in advance.
No member shall execute the rights of a member until he or she acquires at least one fully paid-up share capital of the Society, and no person shall acquire or hold no more than 20% of the total share capital declared in all Cooperative’s projects.
Registration is completed by filling out an application form and watching Timange Modern Concepts cooperative videos, and a share certificate will be issued once it is approved by the board of directors.
Other projects
Timange Modern Concept Coop – Smart Money Investment.
Join Timange Modern Concepts; it’s an excellent investment opportunity if you want to enter the real estate market at a fraction of the cost with a pooled funds investment concept.
Timange Modern Concepts coop aims to realize our members’ social-economic and cultural needs and the community around our commercial real estate business. Our coop has a solid commitment to the community and focuses on strengthening the community where we have established our coop business.