28 TH ANNUAL GENERAL MEETING CHAIRMAN’S REPORT. OPERATIONS AND HUMAN RESOURCE...

28TH ANNUAL GENERAL MEETING

CHAIRMAN’S REPORT

OPERATIONS AND HUMAN RESOURCE

Year 2008 2009 2010 2011 2012

Active Membership 2,873 3,446

4,125

4,697

5,531

Employees 6 8

8

13

17

Members Deposits 607,579,750 809,234,230

1,070,927,590

1,376,867,603

1,782,390,657

Loans to Members 640,758,930 807,266,755

1,058,460,998 1,421,100,258

1,862,006,719

Total Assets Base 704,361,408 939,016,050

1,233,251,820

1,597,952,594

2,084,163,027

SYSTEM IMPLEMENTATION • Navision system procured in 2011

• Fully implemented in 2012.

AUDIT AND RISK COMMITTEE

• Committee constituted in line with SASRA requirements.

• Responsible for reviewing financial conditions of the Society, internal controls and findings of the internal auditor.

• Recommends monthly remedial actions.

MEMBERSHIP GROWTH

• 1665 new members recruited in 2012

• Active members increased from 4,697 in 2011 to 5,531 in 2012.

• This is a 17.8% growth.

• 51 new organizations recruited in 2012

LOANS TO MEMBERSGrowth of loans in 2012 compared to 2011

Graph B: Growth margin for Loans against Deposits for 2010 to 2012

TURN OVER AND PROFITABILITY

• Turnover in 2012 at Ksh.218,480,325 compared to Ksh.157,194,678 in 2011.

• This is a remarkable 39% growth

CAPITAL AND RESERVES

• Capitalization at Ksh.67,128,730 (Share Capital, Statutory Reserve, Investment Reserve and Revenue Reserve) as at 31st December 2012.

• This is in line with 2011 – 2015 Strategic Plan to double capital base from Ksh.35,879,337 in 2010 to Ksh.71,758,674 in 2013.

• 93% has been achieved.

MEMBERS TRAININGMembers’ Participation at Education Days (2009 to 2012)

CORPORATE SOCIAL RESPONSIBILITY

• Ksh.80,000 cash to National Spinal Injury Hospital along Lenana road Nairobi towards completion of a hydrotherapy pool.

• Ksh.80,000 to Ahadi Kenya Trust to aid in anti-jigger campaign in Thika.

• Ksh.40,000 worth of learning materials to Magodo Children’s Home, Uhuru Estate, Nairobi.

• Ksh.40,000 worth of assorted baby items to Abandoned Baby Center, Dagoretti.

• Ksh.50,000 worth of sanitary provisions to Binti Pamoja Initiative, Kibera Slums.

FUTURE PLANS

• Web portal

• FOSA

• Governance-Sacco to consider changing from AGM to ADM(Annual Delegates Meeting) where each organization will send a representative

Thank you