About MILCO

A member-owned cooperative for Basotho producers.

Made in Lesotho Retail Cooperative Society Ltd (MILCO) is a registered retail cooperative incubated at the NUL Innovation Hub, championing Lesotho-made products.

Cooperative Governance

MILCO is governed democratically under the Lesotho Cooperatives Act 2000 and its registered constitution. Ultimate authority rests with members through the Annual General Meeting (AGM), which elects the Management Committee and approves budgets, audits and amendments.

The Annual General Meeting

  • Held once a year, within three months of the financial year end (April–March).
  • 30 days' notice given by letter, phone or electronic means.
  • Quorum: two-thirds of members; if not met, postponed one week — then 1/8 quorum (without constitutional powers).
  • Approves audit, budget, dividend distribution and borrowing ceilings.
  • Elects the Management Committee and Audit Committee.
  • May amend the constitution with a 3/4 majority at a special meeting.

The Management Committee

Elected at the AGM. Members serve a maximum of three consecutive terms and may be removed by a 2/3 majority for failure to perform.

Chairperson

Calls and presides over meetings; signatory on agreements with banks, organisations and donors; casts deciding vote when tied.

Vice-Chairperson

Assumes the Chairperson's duties in their absence.

Secretary

Calls meetings under the Chair's direction, takes minutes, keeps records and asset register, signs bank documents.

Vice-Secretary

Assumes the Secretary's duties in their absence.

Treasurer

Oversees finances, ensures funds are banked, keeps orderly financial records and inventory of cooperative property.

Advisors (×4)

Provide advisory input to the Management Committee.

Committees & Sub-committees

Audit & Supervisory Committee

Three members elected at the AGM. Ensures the Cooperatives Act 2000 and the constitution are adhered to; can halt operations and alert the Management Committee on non-compliance.

Education Sub-committee

Three members nominated by the Management Committee. Educates members on the constitution, cooperative principles and business best practices.

Ethics Sub-committee

Three ad-hoc members. Oversees relations between members and between MILCO and its partners and customers.

Special Sub-committees

Appointed on a need basis by the Management Committee for specific tasks; size determined per assignment.

Meetings of the Society

  • First Meeting — held within 3 months of registration; elects an interim Management Committee.
  • Quarterly Meeting — every three months; reviews progress and strategy.
  • Special Meeting — called when needed by the Committee or by 1/5 of members in writing.
  • Annual General Meeting — once a year; the supreme decision-making body.