Oikocredit Holds 48th Annual General Meeting

Oikocredit Holds 48th Annual General Meeting

Annual General Meeting.png13 juni | 2024

On 7 June 2024, Oikocredit held its Annual General Meeting (AGM) in San José, Costa Rica, with members and others joining and participating through a web-based conferencing and electronic voting system.

To accommodate members unable to travel to Costa Rica, the AGM was held as a hybrid meeting with both in-person and virtual participation. The meeting was chaired by Oikocredit Supervisory Board member Arpita Pal Agrawal, with approximately 60 of the cooperative’s member representatives participating and voting online. 

During the meeting, members received updates on Oikocredit’s activities and financial performance over the past year. Key highlights included: 

  • Managing Board Report: Presented by Managing Director Mirjam ‘t Lam, the report covered the cooperative's achievements, focusing on the global landscape, the strategy execution, the end-client survey and key financial figures. 

  • Annual Accounts and Dividend Proposal: Given by Gwen van Berne, Director of Finance and Risk, the presentation included a detailed overview of the 2023 financial performance, changes to the accounting methods and a proposal for a dividend payout of 0.5% for 2023. 

  • Supervisory Board Report: Cheryl Jackson, Chairperson of the Supervisory Board, provided insights into the board's activities, followed by the Audit, Risk & Compliance Committee report from Supervisory Board member and committee chair Charity Chanda Lumpa. 

Key decisions and appointments 

Key decisions voted on were: 

  • The members approved the annual accounts for 2023. 

  • The dividend proposal for 2023 was endorsed. 

  • The appointment of the external auditor for 2024 was confirmed. 

  • Discharge was granted to the Managing and Supervisory Boards for their activities in 2023. 

Appointments and elections were: 

  • Gaston Aussems was reappointed to the Supervisory Board. 

  • Karen Tsang and Georg Schuermann were appointed to the Supervisory Board. 

  • Aglaë Hagg was reappointed to the Members’ Council. 

  • Dr. Jetti Oliver and Michelle Lüchinger were appointed to the Members’ Council. 

Other proposals approved at the AGM included the following amendments to the Articles of Association: 

  • Extension of the term of Supervisory Board members from three to four years; 

  • Adoption of an alternative voting system to allocate more votes to support associations based on specific criteria in order to better reflect the number of investors per support association; and 

  • Amendments for housekeeping purposes. 

Reconfirmed commitment 

The meeting was conducted in good spirits, embodying Oikocredit's values of sustainable and impactful investing. 

The meeting concluded on a positive note with members reaffirming their commitment to Oikocredit's mission of responsible investment and the creation of opportunities for people with low incomes. The hybrid format ensured inclusive participation, reflecting the cooperative’s dedication to its global member base. 

For further details, please refer to the official AGM documents available to members.

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