About Us
Co-Operative Description
Latent Light, an investment entity situated in Livingstone City within the Southern Province of Zambia, was established in January 2020 and officially registered with the Ministry of Commerce, Trade, and Industry Cooperatives department. The organization is dedicated to fostering financial savings and offering accessible funds to micro-businesses through loan facilities. Additionally, it facilitates community micro-entrepreneurs by providing training in fundamental accounting, general business management, and mentorship imbued with Christian business principles.
Business Idea
Latent Light conceived a business concept centered around financial savings and credit, prompted by the prevalent unemployment rates in Zambia. Many individuals possessing entrepreneurial aspirations and the potential to improve their economic circumstances struggle to secure capital. Recognizing this challenge, the decision was made to rally community members and establish a cooperative dedicated to savings and credit, complete with a structured management team. This initiative aims to provide individuals with the opportunity to invest their funds and generate returns on their investments. Additionally, it will facilitate the accumulation of capital for those harboring business ideas through their savings contributions.
Our Vision
Our vision is to be the preferred investment and financial solutions provider for saving to Small and Medium Enterprises (SME’s) in Zambia.
Our Core Values
- Integrity – essential to building trust with your clients and fellow employees. It’s
also integral for making ethical decisions and addressing challenges calmly and
purposefully. Living the value of integrity requires holding yourself accountable,
accepting responsibility, and facing the consequences of your actions - Accountability – all employees are accountable for their own actions,
behaviors, performance and decisions to the investors and the board. - Compliance – the act of obeying a law or rule, especially one that controls a
particular industry or type of work
Corporate Governance
The Annual General Meeting(AGM), comprised of all LLZ SACCO members, have the Supreme Decision-Making Authority. Members in an AGM elect the Board of Directors along with the Supervisory Committee. The term of office for the Board and Supervisory Committee shall be Three(3) years, with the maximum number of consecutive terms of office being Two(2). The Board has overall responsibility for the proper operations of the SACCO, as well as be responsible for the
of a Management Team.