Meck Moroni AGM

The annual general meeting of Meck Moroni was held this Saturday 11th November, 2023. Due to a high turnout at the Meck Moroni AGM, many people did not get the ‘survival’ kit full of biscuits, drinks, T-shirt and the annual report of activity. Dr. Ahmed Abdullatif is the new chairman of the Board of Directors at Meck Moroni. He is also the professor and Computer Department chief at the IUT (University Institute of Technology) of the University of Comoros. According to him, the number of borrowers has increased in 2022 after the end of the coronavirus pandemic. Meck Moroni was set up on 1st November 1998 with only 508 founding members. Twenty-five years later, it has become one of the major micro financial institutions of the country with more than 64,603 members in December 2022. The total number of borrowers in 2022 reached 13,544, which is an increase of about 7.5% compared to 2021 with only 12,662 borrowers, the chairman said. Aboubacar Moussa is the secretary of the Meck Moroni Supervisory Board. In his speech delivered in both French and Comorian(shikomori)languages, he confirmed the bank’s financial statements as it’s already approved by the auditor from the Malagasy Mazars cabinet consulting.’‘ Even though some improvements are necessary, we are confident about the good governance and management that prevail in our institution,’’ he said. Before the election of 3 new members of the board of directors, five members were invited to have their say and ask some questions. Hamidou M’madi Djalim thinks that the reception desk is warm and inviting. However, when it comes to male staff things are different. Djalim is upset about the high interest rates. “When I borrow 5 million Comorian francs, you only give me 3 million and half. I have to repay the loan to the bank 6 million,” he said. Salim Saandi Kemba says that more than 98% of Meck Moroni memberships are Comorian citizens, but French language is still used in your report instead of Shikomori (Comorian language). He also wants to know why the Microfinance system of Meck Moroni does not help the small borrowers who fail to pay back their loans as it has much money and owns many real estates. Mrs. Fatouma Elyasse thinks that the report should be available for the public before the AGM‘s day in order to allow the members to prepare their good questions. The former director of Said Mohamed Cheikh high school suggests creating a special committee for the cost of living. “This 4th body can give advice to the borrowers when to invest and which time is not opportune to borrow. Forgiveness should be made possible for those who are unable to pay off their loans”, she concluded. Another guy’s proposal is about an annual ‘Action Plan’ to be approved by the members at a General Assembly and evaluated at the next AGM. It’s the only way to hold Meck Moroni employees and members of the three boards accountable, he says. Mlepo Oumouri Abdou is grateful for the banking for small businesses. It really deserves its name.” Even all the counters at the bank are open; we lose more time to be served. He proposes converting a room into a worship space or even building a mosque for the prayers. He also thinks that candidates for Meck Moroni scholarships for those students obtaining honors in the baccalaureate should focus their studies on technical and vocational trainings rather than on academic studies. He said the lack of skilled staff in many technical areas is disrupting our country’s economy and our business. Chami Mouzawar, Contributing writer