BERSAMA REAL ESTATE COOPERATIVE MULTI-PURPOSE SOCIETY LAUNCHES!

A Cooperative society can be said to be the autonomous association of persons united voluntarily in other to solve their socio-economy and cultural aspiration through joint owned business or businesses which is democratically controlled by themselves.

It is in this vein that the BERSAMA REAL ESTATE COOPERATIVE MULTI-PURPOSE SOCIETY was launched on the 8^th day of November, 2017.

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It has come to the realization of many in the business world that real estate is a very good asset class investment and a viable cooperative society formed under this premise of real estate is no different.

BERSAMA may just have been launched, however the journey to the actual and official announcement of this cooperative multi-purpose society started as far back as 2006.

It began with a smaller group as an experimental vehicle which ran successfully for five years. Thereafter, the same group decided to throw their idea further open to a larger crowd in other to get bigger transactions, business wise.

Feasibility studies were carried out to pick an appropriate model for the running of the grand idea and the cooperative vehicle proved to fit just fine and with the help of the Lagos State Ministry of Commerce, Industry and Cooperatives, BERSAMA was born!

Representing the Lagos State Government via the office of the Permanent Secretary of Lagos state Ministry of Commerce, Industry and Cooperatives – a position held by Mr. Olalekan Akodu and the Director of cooperatives, Mrs. Subair Atinuke, Mrs. Bilikis Gbadamosi  was on ground to inaugurate BERSAMA REAL ESTATE COOPERATIVE MULTI-PURPOSE SOCIETY

Mrs. Gbadamosi who was also the facilitator at the inauguration congratulated the members for being a part of a big history. She gave a brief talk during the event, speaking about the bye laws, provisions and the essence of a cooperative society in Nigeria.

Mrs. Gbadamosi who spoke on behalf of the permanent secretary of the Lagos state Ministry of Commerce, Industry and Cooperatives witnessed the resolutions made that became binding on members and subsequently the ratification of the executive members of the Cooperative Society.

Also speaking at the launch, MD/CEO, Realty Point Ltd, Debo Adejana gave a brief account about the operations of BERSAMA

“You can join BERSAMA with a one-time membership joining fee of 25,000 naira which has an inbuilt referral reward mechanism. This means that members who bring members into the cooperative have a share of the 25,000 naira joining fee which goes to the members as reward for that referral.

This was done to ensure that membership strength swells as much as possible, and almost effortlessly

A minimum of 15,000 naira per annum has also been earmarked for compulsory savings which should be made within the first three months of the new year. As it is, the cooperative calendar runs only from January to December.

However, individual savings allow members to borrow only twice the amount of what is saved with the cooperative,” Debo Adejana buttressed.

Asides the Management committee made up of the executive members of the cooperative society, a supervisory committee serving as internal auditors of BERSAMA was set up to supervise and checkmate the activities of the Management committee of the cooperative.

The members of the supervisory committee are as follows; Mr. Michael Alabi, Mrs. Monisola Adejana and Engr. Steven Ajayi-James

Committee members swore an oath of office to uphold the bye laws and values of the cooperative for the benefit of its members, with a promise to discharge their duties without fear or favour and according to the provisions of the cooperative society laws of Lagos state.

Thereafter, the Vice President of the Management Committee of BERSAMA, Mr. Afolabi Folayan gave the vote of thanks on behalf of the President.

The whole purpose of the BERSAMA REAL ESTATE COOPERATIVE MULTI-PURPOSE SOCIETY is to put resources together and invest in real estate asset class. And with a paltry sum, every bonafide member of the cooperative can enjoy the kind of returns that is accruable on heavy ticket real estate transactions.

And in the words of MD/CEO Realty Point Ltd, Debo Adejana, “maybe someday in the nearest future, BERSAMA will be bidding to buy some stadium somewhere; something as big and grand as the the Teslim Balogun stadium in Surulere. Then while watching a crucial football match with the stadium filled to its capacity and fans cheering their favourite teams, you don’t just join them to clap because you are enjoying the football artistry on display but because for every person seated in the spectators’ stand, you’ve figured out the profit that is accrued to you because for every ticket bought that day, a BERSAMA member has a share in it.

Tell me why anyone won’t want to Invest in a big real estate asset class which BERSAMA guarantees?

The president of the management committee is Mr. Akin Olawore who also doubles as the president of the Nigerian-British Chamber of Commerce

BERSAMA is the brainchild of Realty Point Ltd.