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