kenya medical association sacco strategic plan: 2020 - 2024

Kenya Medical Association SACCO

Strategic Plan: 2020 - 2024

Kenya Medical Association SACCO Ltd P.O. BOX. 413 -00202 KMA Center, 4th floor Mara road, Upper hill Nairobi

Kenya Medical Association SACCO Strategic Plan 2020-2024

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Contents

1 Part 1 iii1.1 Abbreviations and Acronyms iii1.2 List of tables and figures iv1.3 Definition of terms v1.4 Message from the Chairman of the Board vi1.5 Message from the General Manager vii1.6 Executive summary viii1.6.1 Preamble viii1.6.2 Rationale for the Strategic Plan viii1.6.3 Methodology ix1.6.4 Strategic Pillars x1.6.5 Mission xi1.6.6 Vision xi1.6.7 Values charter xii1.6.8 Key Result Areas xii1.6.9 Resource requirements xiii1.6.10 Monitoring and evaluation xiv

2 Institutional framework 12.1 Background information 12.2 Current performance levels 42.3 Organisation structure 52.3.1 Proposed organisation structure 6

3 Situational analysis 73.1 Government agenda 73.1.1 Vision 2030 73.2 External environment 83.2.1 Political/Legal Factors 83.2.2 Economic Factors 93.2.3 Social Factors 93.2.4 Technological Factors 93.2.5 Industry environment analysis 103.3 Internal environment 113.3.1 Governance and operational leadership 113.3.2 Strategy 123.3.3 Management structure 123.3.4 People and resources 133.3.5 Systems and processes 133.3.6 Culture and values 143.3.7 Client/stake-holder focus 143.4 Stakeholders analysis 15


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3.4.1 Inbound stakeholders 153.4.2 Outbound stakeholders 153.5 Summary of actions to address challenges identified in the situational

analysis. 15

4 Implementing the strategy 164.1 Staffing complement 164.2 Resource Requirements 164.2.1 Monitoring and evaluation 164.3 Critical Success Factors 174.4 Negative forces on implementation 17

5 Conclusion 185.1 Values and lessons of the strategic planning process 18

6 Appendices 19A. Implementation matrix 19A.1 Summary – KRAs, goals, strategic objectives and strategies 201. Profitability 202. Investment 203. Custody 234. Lending and Operational Efficiency 235. Corporate Governance 256. Customer Experience 277. ICT infrastructure 298. Human Capital 299. Collaboration, Partnership and Corporate Communication 3310. Corporate Social Responsibility 34A.2 Detailed action plan 35

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1 Part 1

1.1 Abbreviations and Acronyms AGM Annual General Meeting

CMA Capital Markets Authority

CSR Corporate Social Responsibility

FOSA Front Office Services Activity

GCEO Group Chief Executive Officer

GFM

GIA

Group Finance Manager

Group Internal Auditor

IRA Insurance Regulatory Authority

KMA Kenya Medical Association

KMPDU Kenya Medical Practitioners Pharmacists and Dentists Union

KRA Key Result Areas

PPP Public Private Partnership

SACCO Savings and Credit Cooperative Society

SASRA Sacco Societies Regulatory Authority

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1.2 List of tables and figures Section Details

1.7.4 Generic and Proposed SACCO Models

2.3.1. Proposed Organisation Structure

3 Situational analysis

A Implementation matrix

A.1 Summary – KRAs, goals, strategic objectives and strategies

A.2 Detailed action plans

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1.3 Definition of terms Term Definition

Core values The fundamental rules by which the SACCO wants to conduct “business”

Goal High level statements of what needs to happen to achieve a KRA

Key Result Area The areas on which the SACCO will focus in order to achieve results

Mission The purpose for which the SACCO exists

Outputs The product or service that the SACCO produces

Performance Indicator

The measure used to assess the performance of the SACCO

Service Delivery Targets

Are specific outputs needed to achieve the Strategic Objectives

Situation Analysis Is the critical assessment of the environment in which the SACCO operates in.? It contains four elements: external influences and trends; government agenda, strengths and weaknesses; and challenges

Strategic Action Plan

Sets out the parameters that lead to the fulfilment of the SACCO’s Vision and Goals. It contains three elements: Strategic Objectives, Strategies, and Service Delivery Targets

Strategic objectives

Are broad, long-term targets designed to achieve the SACCO’s mission. They are time bound, measurable and outcome oriented

Strategy Method and/or procedure for achieving the strategic objective

Vision A vibrant and compelling image of the desired future state of the SACCO


1.4 Message from the Chairman of the Board

Dr. Kennedy Jerry Koech

KMA SACCO’s Strategic Plan 2020 - 2024 outlines how the Sacco will continue to effectively achieve its mission and vision. Future risks to the SACCO include escalating cyber-security threats, interest rate and liquidity challenges, real estate and member business loan concentrations, and rapid changes in technology. Each risk requires continual monitoring and, where prudent, risk mitigation strategies to protect the savings and investments of our members.

The changing financial services environment is also driving a need for a greater diversity of the SACCO employees’ skills and knowledge. The SACCO staff are our most important asset, and they must have the skills, training, and tools necessary to do their jobs in this complex and dynamic financial environment. We will continue to focus on workforce recruitment and development, to attract, train, and retain the best talent. A priority is improving processes, tools, and technology to increase efficiency and effectiveness in our operations. Through continual quality improvement the SACCO will review the efficiency of its processes, while simultaneously take on opportunities that will enhance stakeholder value.Many of the SACCO’s information technology platforms do not leverage current technology in terms of capabilities and security. This Strategic Plan addresses the investment and upgrade of technology software systems include the deployment of apps for digital lending.

The SACCO will continue to build on specific priorities that will deliver the results. These are Profitability, Custody, Lending and Operational Efficiency, Governance and Direction, Customer Relations, ICT, Human Resource Collaboration, Partnership and Corporate Communication and Corporate Social Responsibility.

The SACCO will continue its ongoing commitment to transparency about its future plans and actions. The future promises to be full of both challenges and opportunities for the cooperative movement and more specifically the SACCO. With the strategic objectives and actions outlined in this Strategic Plan, we stand ready to address these challenges head-on to ensure we stand by our mission of “To be the leader in provision of financial products, services and solutions to the healthcare professional.”

On behalf of the Board of Directors, I would also wish to extend my sincere appreciation to the staff and management for their continued service and dedication to the Sacco.

Dr. Kennedy Jerry Koech

Chairman, Board of Directors


1.5 Message from the Group Chief Executive Officer.

CPA Andrew Kasola Mutua

In this Strategic Plan, we have set for ourselves very ambitious targets as we begin our transformation journey. In light of this, our promises to our customers continue to be fulfilled.

To make an impactful difference to the lives of our members means completely rethinking the way we do business. This will include adopting the right mind-set. Our continued quest to achieve our strategy calls for focus on our members, simplification of our business as well as taking an innovative approach.

I remain confident in our ability to deliver our five-year strategic plan and the benefits that it will bring to our members, colleagues and all other stakeholders.

On behalf of the KMA SACCO Staff, I wish to express my gratitude to all those who participated or supported us in any way or form in the preparation of this Strategic Plan.

Whilst it may not be possible to mention all those who have contributed to the preparation of this plan, I would like to recognize the contribution of the Board of Directors who were heavily involved in the preparation of this Strategic Plan. You deserve special credit for spearheading the process and spirited coordination of the process, all resulting to the successful completion and immense learning by all who participated. Your open and honest contribution has enabled us to take stock of our performance, the impact it has had on our operations and to include specific initiatives in this important document which will guide our operations for the next five years.

CPA Andrew Kasola Mutua

Group Chief Executive Officer.


1.6 Executive summary

1.6.1 Preamble The Third Strategic Plan (2020 – 2024) for the KMA SACCO (herein referred to as The SACCO) was prepared after review of the previous Strategic Plan which covered the period 2015 – 2019. Generally, the implementation of the first and second Strategic Plans recorded remarkable achievement. However, with the mutable financial services environment, it was necessary for the SACCO to embark on a review of its strategic posture in order to drive it to the next level.

The preparation of the 2020-2024 Strategic Plan was carried out in a participatory manner to ensure that there is unity across the various parties in the management of the Society. This was considered critical to ensure common understanding, ownership and commitment to sharing and implementing the strategy. Whilst the Board Chairman is the primary custodian and driver of the strategic direction that the SACCO and staff take, every other person must also own the strategy and implement it in a complementing manner even as they remain alert to the fluctuating environment and adapting the strategy as necessary. The approach adopted in the preparation of this Strategic Plan therefore aims at embedding this dynamism within the SACCO through comprehensive understanding and ensuring that strategic positioning and implementation is a continuous process.

The key elements agreed within the strategic planning framework are briefly set out in this executive summary together with reference to the detailed Strategic Plan for greater detail.

1.6.2 Rationale for the Strategic Plan The SACCO is committed to fulfilling its objectives hence meeting the expectations of its key stakeholders. To accomplish its ambitious and innovative objectives in a difficult operating environment, it was necessary to review the previous strategic plan. This Strategic Plan is expected to be a living document that guide the entire team on the day-to-day operational activities.

In order to meet these expectations, strategic planning has to become a meaningful process for organisations– from the most senior levels to the lowest level. Indeed, top management has to be prepared to lead, develop and own the process and key stakeholders also must be involved. The essence of this exercise is to get all those who matter to be involved right from the beginning in order to lay the proper foundation on which other processes can be built including annual performance contracts and work plans, quarterly work-plans, periodic performance monitoring and embedding a culture of continuous improvement in the SACCO.


1.6.3 Methodology This Strategic Plan has been developed through using a methodology that is intended to ensure ownership, commitment and leadership by the SACCO. The key elements of the methodology included:

A complete understanding of the institution’s current mandate, mission, and outputs

A review of the challenges encountered in the previous strategic planning cycles

An outline of the current levels of performance by the SACCO

A situational analysis to confirm the relevant external and internal factors that impact on the SACCO’s performance as well as carrying out a stakeholder analysis to identify the key actors that the SACCO has to interact with in delivering its mandate and the challenges that these present;

Discussion and agreement on the key challenges presented by the environment which the SACCO will need to specifically respond to as part of its strategy;

Confirmation of the mission, vision and core values of the SACCO going forward;

Identification of the key result areas that the SACCO will focus on during the strategy period;

Preparation of strategic action plans for each of the key result areas.

This Strategic Plan has been prepared by the SACCO team under the leadership of the Chairman of the Board of Directors. These steps involved:

Review of the existing strategic plan (2015 – 2019) that provided the threshold for additional information-gathering and facilitation;

Participation in interviews with key stake holders, which validated the SACCO’s functions, strategic direction and the core values;

Strategic Planning workshops which validated the following:

- Results Framework including the Mission, core functions, key outputs and outcomes;

- External and internal environment, stakeholder analysis and the resulting challenges faced by the SACCO; and

- Key elements of the future strategy including the Mission and Key Result Areas.

Development of Goals, Strategic Objectives, Strategies and Service Delivery Targets for the identified KRAs as part of comprehensive action plans to implement the strategy.

This process was designed to engage SACCO team in identifying the strategic issues facing the SACCO and the initiatives necessary to transform the SACCO to be better aligned to its role as well as to increase its competitiveness. Most members of the SACCO team have devoted considerable effort in this process and demonstrated enthusiasm, ownership and commitment to implementing the plan. This momentum will need to be sustained to ensure that the initiatives set out in this plan are translated into action.


1.6.4 Strategic Pillars The Strategy is based on the following key pillars:

• Owner and investor: Here the common bond is provision of services to the medical fraternity. The SACCO aims to offer easy entry and attractive but sustainable returns as an incentive to save.

• Investing and managing agent: This is made up of the SACCO staff and board. They should be given incentive aimed at keeping the team lean, motivated and innovative in order to be as efficient and effective as possible.

• Borrower and customer: The SACCO aims to offer relevant, accessible products and services that are profitable and competitively priced keeping in mind the various lending methods and their relative risk levels for example that borrowing against savings being, cheapest, borrowing against being moderately expensive, while unsecured loans being the most expensive.

• Communication and access: This is a key focus area to ensure that all members are aware of the products and services that the SACCO can offer.

The above pillars move away from the generic SACCO model as we know it as shown in the diagrams below.

Figure 1: Generic Sacco Model


Figure 2: Proposed Sacco Model

1.6.5 Mission One of the most essential elements in a strategic plan is a clear, concise and memorable purpose statement that can help an organisation to galvanise all its energies and resources towards that purpose. Above all, it is not just the words included in the mission statement that help an organisation to align and focus on its purpose, but the process of defining the statement is critical to ensure that there is comprehensive understanding and ownership within the organisation.

After a detailed discussion, the SACCO unanimously adopted the mission statements as:

“To proactively mobilize savings and provide innovative products, services and solutions to encourage and facilitate investment in the health care sector while utilizing available resources efficiently and effectively for the ultimate benefit of the community and the health care professional.”

1.6.6 Vision

“To be the leader in provision of financial products, services and solutions to the healthcare professional.”


1.6.7 Values charter

In order to align more to the mission and vision as well as equip the SACCO with the wherewithal to overcome the challenges it faces and will continue to face, there needs to be a visible transformation within the SACCO guided by a set of core values that will form the standards of behaviour that the SACCO will exemplify. Every individual within the SACCO, as well as actors who engage with the SACCO, will be expected to internalise these values and to hold each other to account on exemplifying them.

The SACCO and its staff have committed to the following set of core values:

1. Integrity 2.Prudence. 3.Fairness4.Teamwork 5.Professionalism.

1.6.8 Key Result Areas The SACCO has identified ten Key Result Areas (KRAs) to focus on during the strategy period. These KRAs have been broken down into goals, strategic objectives and strategies. The specific strategies have been further broken down into detailed action plans outlining the various activities, resource requirements, timeframes and responsibilities for the delivery of each strategy.

These KRAs are outlined below:

1. Profitability

2. Investment

3. Custody

4. Lending and Operational Efficiency

5. Corporate Governance

6. Customer Experience

7. ICT Infrastructure

8. Human Capital

9. Collaboration, Partnership and Corporate Communication

10. Corporate Social Responsibility


The focus on these KRAs are geared towards the achievement of the following long term goals:

a) To implement appropriate strategies and associated business development initiatives so as to achieve sustained business profitability and competitive return on investment.

b)To ensure growth in the investment portfolio in order to give a competitive return to members.

c) To grow member deposits in order to achieve sustainable growth and return on investment.

d)To increase loan book to achieve sustainable growth.

e) To optimize the loan turnaround time.

f) To ensure loan performance is maintained in order to remain profitable

g)To have an accountable and transparent SACCO by putting in place the relevant and efficient systems and processes.

h)To establish and sustain an effective governance structure to enhance accountability, systems and processes.

i) To establish effective risk management framework.

j) To strengthen risk management framework of the society.

k)To develop and implement an effective customer experience framework as a means to ensuring customer satisfaction.

l) To maintain an effective institutional ICT infrastructure that will enable the integration of ICT best-practice in the SACCO operations.

m) To share strategy in order to ensure the fulfilment of the SACCOs mission and objectives

n)To maintain human capital suited to meet our current and future SACCO objectives.

o)To enhance collaboration, and partnerships with an aim of expanding the SACCO network.

p)To have visible, well understood and highly regarded communication strategies by all stakeholders.

q)To establish and sustain a relevant high performance corporate social responsibility framework as a means of giving back to the society.

1.6.9 Resource requirements The implementation of this strategic plan requires both financial and physical resources.


The SACCO has prepared detailed costings of the planned strategic initiatives. It is expected that at every annual general meeting adequate resources shall be approved to implement the strategic plan over five years.

1.6.10 Monitoring and evaluation The Strategic action plans have sufficient detail to enable the monitoring of progress of implementing the strategy for each key result area. In addition, it was agreed that:

each responsible officer will extract the specific targets and provide implementation reports on a regular basis;

the strategy will be translated into performance responsibilities for staff including detailed work plans against which performance will be evaluated on a regular basis;

a staff meeting, chaired by the GCEO will be held on a regular basis to report progress over the implementation of the plan;

the SACCO will undertake a mid-term review of implementation and incorporate any changes as and when they may fall due;

specific issues will be identified and action plans prepared to address any bottlenecks in the implementation of the strategy; and

The SACCO has undertaken to monitor the implementation of the strategic plan as part of a continuous process intended to embed a culture of continuous performance improvement.


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2 Institutional framework

2.1 Background information The KMA SACCO was registered in 1998 as a Savings and Credit Co-operative Society to offer financial services to KMA members. A member of the Kenya Union of SACCOs and Cooperative Societies (KUSCCO), the SACCO has grown tremendously over the years and is now positioned as a major financier for medical practitioners countrywide.

The SACCO draws its strength from its members who are both shareholders and customers.

The SACCO has a rapidly growing asset base which stood at Kshs. 4.069 billion as at December 2019. The average savings per member stands at Kshs. 554,236.18

The following section indicates growth trends over the past 5 years.

Figure 3: Asset Base

ASSET BASE YEAR 2015 2016 2017 2018 2019 ASSETBASE 1,933,850,816 2,382,679,122 2,875,245,036 3,380,038,404 4,068,703,785

GROWTH 18% 23% 21% 18% 20%


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Figure 4: Growth in Membership

Figure 5: Loan book growth


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Figure 6: Growth in profitability

YEAR ACTUAL BUDGET STRATEGICActual % Growth

Year 2015 155,570,991 99,774,083 202,242,288 74%

Year 2016 219,174,760 173,639,488 262,914,975 41%

Year 2017 280,307,088 234,457,748 341,789,467 28%

Year 2018 308,066,285 301,587,716 444,326,307 10%

Year 2019 348,474,725 353,091,568 577,624,200 13%

Figure 7: Actual growth vs strategic variance


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Figure 8: Growth Trends

The SACCO has a well-qualified and experienced board of directors and management team who compare favourably with the best in Kenya’s co-operative industry.

The SACCO team has grown from 2 staff in 2010 to 23 staff in the year 2019. Through its diversification of products, the SACCO members can now access insurance & pension services making it a one-stop shop for financial services.

The objective of this strategy is therefore to develop a comprehensive road map for the next five years clearly identifying the short and medium strategies for the SACCO. The strategic plan will clearly state the strategies to be implemented, time frame and requisite resources necessary for execution.

2.2 Current performance levels The current performance data is important as it forms the baseline against which future performance can be measured. The SACCO has established baseline performance and continuously updates performance levels internally as well as the industry performance which the SACCO may want to benchmark against.

Based on feedback received from both internal and external stakeholders on the SACCO’s performance, there is consensus that the current performance is good and meets the expectations of most stakeholders. The outlook is now to move from the current state to the greater performance levels Recommendations received on areas that require improvement have been addressed in this strategy.


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2.3 Organisation structure The organisation structure proposed by this Strategic Plan is illustrated overleaf.

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3 Situational analysis

Figure 5: Situational analysis

The situation analysis was conducted in the context of the framework illustrated below:

3.1 Government agenda

3.1.1 Vision 2030

Kenya Vision 2030 is the country’s development blueprint covering the period 2008 to 2030. It aims at making Kenya a newly industrializing, “middle income country providing high quality life for all its citizens by the year 2030”. The vision is based on three “pillars” namely; the economic pillar, the social pillar and the political pillar. The economic pillar aims at providing prosperity of all Kenyans through an economic development programme aimed at achieving an average Gross Domestic Product (GDP) growth rate of 10 % per annum the next 11 years. The social pillar seeks to build “a just and cohesive society with social equity in a clean and secure environment”. The political pillar aims at realizing a democratic political system founded on issue-based politics that respects the rule of law, and protects the rights and freedoms of every individual in the Kenyan society.

ExternalAnalysis

Political/ LegalEconomicSocial/ culturalTechnological

Government Agenda

Vision 2030

InboundActors

InvestorsContractors and ConsultantsSuppliers

InternalAnalysis

Governance andleadershipOrg. structurePeople and ResourcesSystems and processCulture and Values

Outbound Actors

Customers SuppliersOther national Regulators Medical training institutions

Summary of challenges faced by the SACCO

Situational analysis framework

Environmental


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Under the social pillar of Vision 2030, Kenya’s journey towards widespread prosperity also involves the building of a just and cohesive society that enjoys equitable social development in a clean and secure environment. This quest is the basis of transformation in eight key social sectors, namely: Education and Training, Health, Water and Sanitation, the Environment, Housing and Urbanization, as well as in Gender, Youth, Sports and Culture. It also makes special provisions for Kenyans with various disabilities and previously marginalized communities. These policies (and those in the economic pillar) will be based on a strong Science, Technology and Innovation (STI) foundation. Under this, Kenya’s vision for health is to provide “equitable and affordable health care at the highest affordable standard” to her citizens. In light of this, a strong Science, Technology and Innovation (STI) foundation blends with the SACCO’s focus on Corporate Social Responsibility with regards to facilitating research and innovation in the medical field.

Kenya also plans to restructure the health delivery system and therefore shift the emphasis to “promotive” care in order to lower the nations’ disease burden.

Within the economic pillar is wealth creation through the promotion of savings, borrowing and investment. The cooperative movement is therefore one of the vehicles for promoting socio-economic development, value addition and trade through mobilising savings for investment. The Cooperative movement has so far mobilized over Kshs. 799 billion countrywide with a Kshs.1 trillion asset base. The drive by the SACCO towards mobilizing savings and providing innovative products, services and solutions to encourage and facilitate investment blends well with the economic pillar.

3.2 External environment The external analysis has focused on the political and legal, economic, social and cultural, and technological factors that may have an impact on the SACCO. A review of these factors was conducted by the SACCO team to identify the opportunities and threats that SACCO will need to take into account as part of the strategy.

3.2.1 Political/Legal Factors At the time of the analysis, the political/legal environment was considered to present positive factors that will propel the SACCO into achieving its set objectives in spite of some challenges identified.

Devolution: The threats posed by the new administrative framework includes loss of jobs for some medical staff, delayed/failed check off collections, logistical difficulties in ensuring timely collection of amounts due, among others. Further, the counties present new competition since they are likely to form new SACCOs. The opportunities from this area include the possibility of opening virtual branches, collaboration with counties for investment opportunities as well as the possibility of encouraging mergers and acquisitions of SACCOs at the county level.


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Regulatory environment: The impact of new regulatory framework and a parastatal reform program which may see the parastatals e.g. SASRA, CMA, IRA coming together under one statutory body may call for better governance amid close scrutiny perhaps with some stringent reporting expectations. Further, the SACCO has the opportunity to strengthen its governance and grow into a deposit-taking SACCO under SASRA. Failure to comply with the regulatory framework may lead to legal and administrative sanctions being imposed on the SACCO including de-registration and winding up. A well regulated financial services sector will further open up opportunities in the stock market as well as within the banking sector.

3.2.2 Economic Factors With the economic and diplomatic orientation to the east i.e. China, Kenya is likely to experience accelerated economic growth over the next five years. The cooperative movement is therefore likely to grow with new members joining and demanding services such as borrowing. Other opportunities include medical tourism, tapping into diaspora remittances as well as an overall reduction in medical costs. Increased cost of running the Government may lead to an increase taxes with the potential of eroding the saving power of players within the SACCO movement. Rises in the cost of living may lead to unemployment, among other social ills. Nevertheless, the SACCO has opportunities to invest in the counties within the healthcare ecosystem through public private partnership(PPI)s.

3.2.3 Social Factors Owing to the increased number of medical schools in the country, the number of medical graduates and young doctors is likely to increase. The financial needs of young doctors are vast and varied. This situation presents an opportunity to grow membership, product mix as well as lending to a bigger segment of the population. There are significant numbers of potential members from the Muslim faith who for religious reasons have not joined the Saco. The development of Sharia compliant products will provide an opportunity to tap into this market and grow it exponentially. Further, an aging population of doctors provides an opportunity for the SACCO to invest in and cater for their retirement needs. Opportunities also lie within the insurance sector due to the growing population of doctors, dentists and pharmacist who need to insure their lives, families and business. Improving the liquidity levels of the SACCO also presents an opportunity whereby huge loans can be leant to wealthy doctors which may change the perception and attract membership from this category.

3.2.4 Technological Factors Development in the money transfer systems, especially mobile cash transfers offers an opportunity to ease the transactions between the SACCO and members as well as enabling the establishment of a virtual FOSA. The increase in internet penetration as well as social media advancement creates new and exciting frontiers for interaction between the SACCO, its members and the wider society.


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Cybercrime and fraud has become an ever growing threat to financial institutions and therefore technological and operational vigilance will have to be maintained to mitigate this threat. Use of accounting software will provide opportunity and capacity for accurate and real time accounting, record keeping, and provision of data to aid in decision making and financial reporting. By investing in appropriate IT software, the reality of a virtual branch network is now a possibility. Such software would consequently reduce the payroll cost and strengthen internal controls, minimizing loss of member funds and improving overall operational efficiency.

3.2.5 Industry environment analysis

3.2.5.1 Threat of new entrants Regulatory requirement have made it difficult to register new SACCO’s, therefore limiting the threat of new entrants to some extent. Within this space however, there is a threat of the formation of SACCOs from KMPDU, F500, Dentists, Pharmacists as well as individual professional associations. These new entrants may therefore begin to eat into the SACCO’s membership. The SACCO must therefore improve its services as well as offer appropriate products in order to maintain the competitive advantage that it currently enjoys in order to sustain the firm grip it has within the market.

3.2.5.2 Threat of substitute products Presently, the SACCO mainly offers savings and lending products. These are the same range of products offered by other SACCOs, banks, investment groups (chamas), shylocks as well as microfinance institutions. The choice of the potential investor/saver/borrower will therefore be based on thorough analysis of the product characteristics e.g. interest on loans, return on investment for savings, amount advanced, guarantorship/security, ease of disbursement, etc. The SACCO therefore needs to aggressively set out to win this group of highly discerning customers. To remain appealing and competitive, in-depth research of customer needs and expectations (market intelligence) will have to be continuously carried out and a robust client feedback platform developed. A delicate balance will have to be struck between the cost of products vis a vis the attractiveness/uniqueness of the product offering.

3.2.5.3 Competitive Rivalry Presently, only one SACCO directly competes with KMA SACCO. This rivalry is in the meantime tilted in favour of KMA SACCO mainly due to its internal governance structure, liquidity levels as well as its efficiencies in operation. To this end, the SACCO must continuously accelerate the pace of quality improvement and marketing in order to develop and maintain unassailable competitive advantage long into the future. The diaspora remittances going to diaspora SACCO is also a threat to KMA SACCOs access to the diaspora market.


11

3.2.5.4 Bargaining power of customers At present, the SACCO does not have predominant customers with extreme bargaining power. However, it is expected that over time, large savers will increasingly control greater proportions of the capital. This will come along with unique demands as well as competition from rival SACCOS. This strategic plan must address this possibility by setting in place actions that will spur savings from a wider customer base as well as individualized approaches to attract large savers and borrower who would potentially go to the competition.

3.2.5.5 Bargaining power of suppliers The SACCO’s suppliers are the savers/investors as well as creditors/lenders. Suppliers demand attractive terms in order to save with or invest their funds within the SACCO. The SACCO must therefore design attractive terms to attract savers/lenders in fixed and withdrawable deposits. To be able to negotiate affordable credit for onward lending, the SACCO must develop a wider capital base and liquidity. It is on the basis of capitalization that large lenders will find confidence to transact with it.

3.3 Internal environment The review of internal environment focused on key organisational components to identify the strengths and weaknesses facing the SACCO. The internal analysis has been carried out to provide a summary of strengths and weaknesses in the following areas:

Governance and Operational Leadership

Strategy

Structure

People and Resources

Systems and Processes

Values and culture

Client/stakeholder focus

3.3.1 Governance and operational leadership Good governance is key to the development of any organisation. The SACCO has incorporate proper governance procedures whereby oversight is provided by the SACCO Board of Directors. The Supervisory Committee independently reports to the SACCO AGM. The GCEO oversees the day-to day functions of the SACCO assisted by the Heads of Functions. The main strengths identified in relation to leadership that will support the SACCO in service delivery include:

The SACCO governance and leadership team has appropriate academic and professional qualifications at all levels, as well as sector experience. Members of the board and the


12

management team are therefore well equipped to provide the required leadership and stewardship to propel the sector to the higher levels of service delivery;

The governance and leadership team has provided dynamism and flexibility to remain alert to the rapid changes in the financial services and medical sector and respond appropriately;

The governance and leadership team have been involved in the participation and direction of SACCO activities.

The governance and leadership team is focused on results and has put in place regular performance reviews against plans to ensure the SACCO does not deviate from set targets;

The governance and leadership team leadership has inculcated a culture of action to deliver the SACCO’s strategic plan and overall objectives.

The governance and leadership team has embodied strong governance practices.

Some of the areas that have been identified as needing improvement in the area of governance and operational leadership include:

A board evaluation strategy and process is lacking making it difficult to define among others, the competencies required of board members, how to deal with conflicts of interest, among others. This strategy addresses this aspect.

3.3.2 StrategyIn the area of strategy, the following strengths have been identified:

The Strategy has engendered a focus on results and provided the impetus for improved performance in the SACCO.

The strategy has contributed to the transformation in attitudes and behaviour within the SACCO.

However, there are weaknesses that were identified in the setting of the previous strategy which included:

This strategy has been formulated by the governance and leadership team as well as staff of the SACCO. Previous issues on human resource capacity has also been addressed by this strategy.

3.3.3 Management structure The main strengths attributed to management structure include:

The management structure has the right attitude in fulfilling the SACCOs mandate.

The weakness identified is that the past structure was not well aligned to the strategy and was not dynamic enough to allow rapid responsiveness to emerging trends and related HR development.


13

3.3.4 People and resources People are the single most important resource for any organisation and this is no exception for the SACCO. The strengths that will support the SACCO in this area include:

Competent and qualified personnel who are able to keep up with the rapid changes in the sector and also engage with the various actors;

Staff are multi-skilled and equipped with the necessary tools which enable them to deliver. In addition, staff have been fully equipped with the appropriate ‘tools of trade’ to enable them to discharge their duties effectively;

The weaknesses identified relating to ‘People and Resources’ include:

Due to changes in the operating environment, human resource capacity need continuous improvement and realignment in order to meet the current needs. This has now been addressed through the new organogram proposed by the Strategic Plan.

3.3.5 Systems and processes Feedback from most of the stakeholders indicated that the systems and processes at the SACCO are good and have cited the following strengths:

There are effective processes that have quality management and internal controls.

The SACCO has been able to offer personalised rapid service to its members.

Various value addition and innovative products and services have been offered to SACCO members for example provision of insurance services.

The SACCO has a strong governance structure.

However, some weaknesses have been identified in this area. The key weaknesses identified are:

Long turn-around time with regards to the loan disbursement processes.

Ineffective loan recovery practice leading to growth in non-performing loans, and ultimately bad debts.

Inadequate loan security originating from the practice of not pursuing guarantors.

A poor communication and feedback framework.

Suboptimal quality and timeliness of reporting to the board.

Inadequate research and development processes.

Strengths in relation to sales and marketing processes include:

An active education and marketing committee.

Adequate resource allocation for marketing processes.

Presence of dedicated marketing staff.


14

Weaknesses include:

Lack of an effective marketing policy and process.

Lack of adequate expert input.

Lack of monitoring of the marketing processes leading to low conversion rates.

Strengths that relate to the products and service orientation of the SACCO include:

Uniqueness and attractiveness of the SACCO products to a specific client base.

Flexibility in access to products with regards to repayment plans and modes of remittance to the SACCO.

Weaknesses include.

Narrow product range thereby limiting the growth of the SACCO.

Low return on investment due to various internal and external factors.

All the above weaknesses have been addressed in the through the strategic action plans highlighted in this strategy.

3.3.6 Culture and values As an organisation that is taking the lead in transforming the fortunes of SACCOs within the financial services sector, the SACCO needs to be in the front-line in spearheading innovation, creativity and results-orientation. Most stake-holders feel that considerable gains have been made in establishing a positive environment and that the culture is evolving appropriately.

Some of the strengths identified in this area include a culture of action and speed in getting things done.

However, there are areas of weaknesses that have been addressed by this Strategic Plan include the need to further strengthen the performance and accountability framework as well as internal and external communication.

3.3.7 Client/stake-holder focus The SACCO needs to maintain constant contact with the market to understand the needs and aspirations of the various categories of clients and be responsive to their needs. This is an area that has been previously neglected but is now being addressed through the communication and client relationship framework that will be further enhanced via this strategic plan.


15

3.4 Stakeholders analysis The SACCO interacts with a number of actors both ‘inbound’ (supply side) and ‘outbound’ (demand side). The stakeholder analysis was based on activities conducted by the SACCO and information obtained as part of interaction with various actors.

These stakeholders provide opportunities for the SACCO to enhance its effectiveness as well as threats that will need to be responded to. These are summarised below:

3.4.1 Inbound stakeholders Inbound stakeholders are those that provide goods, services, resources and information to the SACCO and include investors, consultants and suppliers.

3.4.2 Outbound stakeholders This category of stakeholders receive services, resources and information from the SACCO and include customers, service providers, suppliers, regulators ,medical training institutions, among others. The key opportunities and threats emanating from the inbound stakeholders are included in the external analysis section.

In terms of customers (in this case members of the SACCO), the key strengths are as follows:

Doctors are relatively liquid and have a great/insatiable capacity for consumption of a wide variety of financial products.

Being a doctor’s SACCO places the SACCO as the preferred one-stop shop for financial products for medical persons.

However, there are areas of weaknesses that need to be addressed including:

Relative financial illiteracy and procrastination among doctors.

Scepticism by doctors about the possible benefits of SACCO membership.

A narrow customer base.

3.5 Summary of actions to address challenges identified in the situational analysis. The challenges identified in the situational analysis above have been taken into account as the SACCO set the goals and identified objectives, strategies and strategic initiatives to deliver performance consistent with its vision, mission and values. Sections A.1 of this document shows a summary of the KRAs, goals, strategic objectives and strategies in place to address these challenges. Section A.2 covers the detailed action plans for the strategies identified.


16

4 Implementing the strategy

4.1 Staffing complement The implementation of this strategy requires an optimal level of staffing in numbers, skills and the right attitudes. While developing the strategic plan, the SACCO has assessed the optimal staff requirements and the gaps identified and requisite measures have been included in the strategic initiatives. On a continuous basis, staff requirements will be assessed and capacity building initiatives implemented. The nature of the changing environment in the financial services sector will necessitate frequent review of staff capacity especially skills, and the implementation of capacity development initiatives.

4.2 Resource Requirements The implementation of this strategic plan requires both financial and physical resources.

The SACCO has prepared detailed costings of the planned strategic initiatives. It is expected that at every annual general meeting adequate resources shall be approved to implement the strategic plan over five years.

4.2.1 Monitoring and evaluation The Strategic action plans have sufficient detail to enable the monitoring of progress of implementing the strategy for each key result area. In addition, it was agreed that:

each responsible officer will extract the specific targets and provide implementation reports on a regular basis;

the strategy will be translated into performance responsibilities for the Board as well as all staff including detailed work plans against which performance will be evaluated on a regular basis;

a meeting chaired by the Board Chair will be held on a regular basis to report progress over the implementation of the plan;

the SACCO will undertake a mid-term review of implementation and incorporate any changes in the sector;

specific issues will be identified and action plans prepared to address any bottlenecks in the implementation of the strategy; and

An annual performance review will be carried out with and aim of monitoring performance and achievement of strategic objectives.


17

4.3 Critical Success Factors The SACCO has identified the following critical factors for the successful implementation of the Strategy:

Understanding of the strategy by all those who are involved in its implementation;

Provision of leadership and commitment from the governance and leadership team in the SACCO. The leadership is required to lead by example;

Effective communication between all implementers on activities and outcomes;

The timely implementation of activities;

Availability of resources as identified under each strategy;

Effective translation of strategic plan targets to annual plans and budgets; and

Regular review, performance oversight, measurement and reporting.

4.4 Negative forces on implementation The SACCO has identified some factors that may negatively impact on the realisation of the goals set out in the strategy. However, the SACCO is confident that it can influence most of the variables that may impact on the implementation and there is a high likelihood that the goals of the strategy will be achieved. Key amongst the negative forces are:

Fluctuations in economic factors which may limit the spending/saving power of the targeted SACCO members

Regulatory capture

Rapid changes in the financial service environment

Lack of required capacity – physical resources

The SACCO is committed to mitigating the occurrence of any of the above by applying best practice mitigation techniques.


18

5 Conclusion

5.1 Values and lessons of the strategic planning process The SACCO has devoted considerable effort and resources in the development of the Strategic Plan for the period 2020 - 2024. This effort has helped the SACCO to recognise that the engagement in the strategic planning process is as important as the final strategy. The SACCO has noted that there is scope for continuous improvement and this will be done through the annual planning and the mid-term review of the plan.

During the process, the core strategic planning team identified very important lessons which are documented below for posterity:

Teamwork is very important in the preparation and implementation of the strategy;

The process enhanced cohesion between the SACCO team and galvanised them for the implementation of the strategies;

Respect for all is very important – includes the person, ideas and effort;

The consultative process employed in the preparation of the strategic plan ensured that views from a wide range of stakeholders are considered;

The process served as an eye opener and a point of clarifying the core purpose of the SACCO.”

The process enabled the team to view the SACCO at the corporate level, have a bird’s-eye view of the operations thereby enhancing the participant’s strategic perspective;

The process followed during the formulation and reconfirmation of the Mission statement led to greater understanding and clarity;

The process of strategic planning is very involving, hence enhancing ownership; and

The greater involvement has ensured a common understanding of each one’s specific role and the role of others.


19

6 Appendices

A. Implementation matrix The strategic planning process required the preparation of detailed action plans that include the following details for each strategy:

Item Description Purpose

Unit of measure This is the unit of measure that will be used for the output delivered from that strategy

It is important to be clear from the outset what the unit of measure will be.

Service delivery targets This is the volume (based on the unit of measure) that will be delivered in each year.

Service delivery targets are the ‘results’ that will be delivered during the planning period. These are the basis for assessing the effectiveness of the strategies in meeting development objectives

Estimated Resources This is an estimate, in monetary terms, of the resources required to deliver the planned targets.

This is important to facilitate costing of the strategy and provide a basis for resource mobilisation

Responsibility The division/unit responsible for delivering the outputs.

Allocating responsibility is the first step to ensuring that somebody will be held accountable for performance.

Sections A.1 starting overleaf shows a summary of the KRAs, goals, strategic objectives and strategies in place to address these challenges.

Section A.2 covers the detailed action plans for the strategies identified.

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dit/

Inve

stm

ent

Com

mitt

ee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

25

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

5.Co

rpor

ate

Gov

erna

nce

5.1

To h

ave

an a

ccou

ntab

le

and

trans

pare

nt S

AC

CO

by

put

ting

in p

lace

the

rele

vant

and

eff

icie

nt

syst

ems a

nd p

roce

sses

.

5.1.

1A

dher

e to

al

l st

atut

ory

requ

irem

ents

.

5.1.

1.1

Con

tinuo

usly

revi

ew a

nd

com

ply

with

the

Sacc

o B

ylaw

s

5.1.

1.2

Com

ply

with

the

rele

vant

la

ws

5.1.

1.3

Adh

ere

to b

est c

orpo

rate

go

vern

ance

pra

ctic

es.

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

5.1.

2En

sure

tra

nspa

renc

y an

d ac

coun

tabi

lity

5.1.

2.1

Prov

ide

timel

y, c

ompl

ete

and

accu

rate

per

form

ance

re

ports

to a

ll st

akeh

olde

rs

5.1.

2.2

Prov

ide

full

disc

losu

re o

n al

l mat

eria

l mat

ters

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

5.2

Esta

blis

h an

d su

stai

n an

ef

fect

ive

gove

rnan

ce

stru

ctur

e to

enh

ance

ac

coun

tabi

lity,

syst

ems

and

proc

esse

s.

5.2.

1Es

tabl

ish

a pe

rfor

man

ce

man

agem

ent

fram

ewor

k.

5.2.

1.1

Esta

blis

h ap

prai

sal c

riter

ia

for t

he b

oard

by

end

of

2020

.

5.2.

1.2

Impl

emen

t an

annu

al b

oard

pe

rfor

man

ce a

ppra

isal

fr

amew

ork

by e

nd o

f 202

0

5.2.

1.3

Rev

iew

the

boar

d ap

prai

sal

crite

ria a

s nee

d ar

ises

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

26

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

5.3

Esta

blis

h ef

fect

ive

risk

Man

agem

ent

5.3.

1En

sure

an

ef

fect

ive

risk

man

agem

ent

and

cont

rol p

roce

ss

5.3.

1.1

Ass

ess a

nd m

itiga

te

finan

cial

, ope

ratio

nal a

nd

com

plia

nce

risk.

Exec

utiv

e C

omm

ittee

5.4

Stre

ngth

en ri

sk

man

agem

ent f

ram

ewor

k of

the

soci

ety

5.4.

1En

sure

th

e Sa

cco

com

plie

s to

all

rele

vant

le

gal

and

regu

lato

ry

requ

irem

ents

5.4.

1.1

Mee

t rel

evan

t SA

CC

O

regu

latio

ns a

s req

uire

d

5.4.

1.2

Kee

p pa

ce w

ith a

ll ch

ange

s in

regu

lato

ry a

nd le

gisl

ativ

e fr

amew

ork

5.4.

1.3

Bui

ld c

apac

ity in

the

boar

d an

d st

aff t

o be

up

to d

ate

on

all r

egul

ator

y re

quire

men

ts

Exec

utiv

e C

omm

ittee

5.4.

2D

evel

op

Bus

ines

s C

ontin

uity

Pl

an b

y 20

20

5.4.

2.1

Acq

uire

clo

ud c

ompu

ting

infr

astru

ctur

e by

202

0

5.4.

2.2

Iden

tify

optio

ns fo

r al

tern

ativ

e w

orki

ng si

tes b

y 20

20

Exec

utiv

e C

omm

ittee

5.4.

3D

evel

op

New

an

d R

evie

w e

xist

ing

polic

ies

to

com

ply

with

th

e de

velo

pmen

ts

and

chan

ges

in t

he a

reas

5.4.

3.1

Dev

elop

risk

man

agem

ent

polic

y by

202

0

5.4.

3.2

Dev

elop

bus

ines

s co

ntin

uity

pol

icy

by 2

020

5.4.

3.3

Dev

elop

div

iden

d po

licy

by

Exec

utiv

e C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

27

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

they

rela

te to

20

20

5.4.

3.4

Dev

elop

a C

SR p

olic

y by

20

20

5.4.

3.5

Con

tinuo

usly

revi

ew a

ll ex

istin

g sa

cco

polic

ies,

Byl

aws,

Cha

rters

5.4.

4C

reat

e an

ef

ficie

nt

Inte

rnal

A

udit

&

Ris

k M

anag

emen

t pro

cess

5.4.

4.1

Aut

omat

e in

tern

al a

udit

proc

esse

s by

end

of 2

020

5.4.

4.2

Con

tinuo

usly

dev

elop

ca

paci

ty o

f the

aud

it st

aff

6.Cu

stom

er

Expe

rien

ce

6.1

Dev

elop

and

im

plem

ent

an

effe

ctiv

e cu

stom

er

expe

rienc

e fr

amew

ork

as a

m

eans

to

ensu

ring

cust

omer

sa

tisfa

ctio

n.

6.1.

1En

sure

ex

celle

nt

cust

omer

exp

erie

nce

by

deve

lopm

ent

and

impl

emen

tatio

n of

Se

rvic

e C

harte

r an

d co

mm

unic

atio

n ch

arte

r.

6.1.

1.1

Det

erm

ine

and

cont

inuo

usly

im

prov

e th

e tu

rn- a

roun

d tim

es

for s

ervi

ce d

eliv

ery.

Educ

atio

n C

omm

ittee

6.1.

2Im

prov

e co

mm

unic

atio

n fr

amew

ork

with

st

akeh

olde

rs.

6.1.

2.1

Con

tinuo

usly

Pub

liciz

e A

ctiv

e Sa

cco

Com

mun

icat

ion

Cha

nnel

s i.e

. Em

ails

, Pho

ne

Num

bers

and

Soc

ial M

edia

A

ccou

nts

Educ

atio

n C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

28

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

6.1.

3En

sure

hi

gh

qual

ity

serv

ices

ar

e de

liver

ed

thro

ugh

the

esta

blis

hmen

t of

an

ef

fect

ive

cust

omer

re

latio

nshi

p m

anag

emen

t pro

cess

.

6.1.

3.1

Acq

uire

and

impl

emen

t a

cust

omer

rela

tions

hip

man

agem

ent (

CR

M) m

odul

e by

202

1

6.1.

3.2

Car

ry o

ut a

t lea

st o

ne c

usto

mer

sa

tisfa

ctio

n su

rvey

ann

ually

ov

er th

e ne

xt fi

ve y

ears

.

Educ

atio

n C

omm

ittee

Educ

atio

n C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

29

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

7.IC

Tin

fras

truct

ure

7.1

Mai

ntai

n an

ef

fect

ive

inst

itutio

nal

ICT

infr

astru

ctur

e th

at

will

en

able

the

inte

grat

ion

of IC

T be

st p

ract

ice

in t

he S

AC

CO

op

erat

ions

.

7.1.

1C

ontin

uous

ly i

mpr

ove

digi

tizat

ion

of

the

SAC

CO

’s

oper

atio

ns

whi

le

enha

ncin

g IT

se

curit

y.

7.1.

1.1

Stre

ngth

en IT

secu

rity

syst

ems.

7.1.

1.2

Prog

ress

ivel

y di

gitiz

e th

e Sa

cco

oper

atio

ns a

nd se

rvic

es

Exec

utiv

e / I

nter

nal

Aud

it C

omm

ittee

Ex

ecut

ive

/ Int

erna

l A

udit

Com

mitt

ee

Educ

atio

n C

omm

ittee

Cre

dit C

omm

ittee

Cre

dit C

omm

ittee

7.1.

2En

sure

th

at

the

SAC

CO

ex

ploi

ts

inno

vativ

e e-

com

mer

ce

capa

bilit

ies.

7.1.

2.1

Con

tinuo

usly

impr

ove

the

inte

ract

ive

sacc

o w

ebsi

te.

7.1.

2.2

Dev

elop

a se

cure

KM

A S

acco

M

obile

app

by

2022

7.1.

2.3

Initi

ate

mob

ile le

ndin

g by

202

2

8.H

uman

Ca

pita

l

8.1

To s

hare

stra

tegy

in o

rder

to

ensu

re t

he f

ulfil

lmen

t of

the

SAC

CO

s m

issi

on

and

obje

ctiv

es.

8.1.

1En

sure

tha

t th

e B

oard

an

d st

aff

unde

rsta

nd t

he

orga

niza

tion’

s st

rate

gy

and

own

it.

8.1.

1.1

Con

tinuo

usly

Com

mun

icat

e an

d sh

are

info

rmat

ion

rega

rdin

g st

rate

gy a

nd th

e or

gani

zatio

n’s i

nitia

tives

acr

oss

all d

epar

tmen

ts a

nd le

vels

.

8.1.

1.2

Con

tinuo

usly

pro

mot

e th

e SA

CC

O’s

Vis

ion

and

mis

sion

an

d re

info

rce

supp

ortin

g va

lues

.

8.1.

1.3

Con

tinuo

us P

artic

ipat

ion

of

staf

f in

impl

emen

tatio

n of

st

rate

gy/e

nhan

ce li

nkag

es

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

30

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

betw

een

daily

task

s and

st

rate

gy.

8.1.

1.4

Car

ry o

ut a

n an

nual

revi

ew o

f im

plem

enta

tion

of th

e st

rate

gic

plan

ove

r the

nex

t fiv

e ye

ars.

8.1.

1.5

Con

tinuo

usly

rece

ive

feed

back

fr

om st

aff r

egar

ding

stra

tegi

c pl

ans

Exec

utiv

e C

omm

ittee

8.1.

2En

sure

th

at

the

stra

tegy

is

un

ders

tood

am

ong

all

the

stak

ehol

ders

.

8.1.

2.1

Laun

ch o

f the

stra

tegi

c pl

an a

t 20

20 A

GM

8.1.

2.2

Use

of t

he w

ebsi

te fo

r ext

erna

l co

mm

unic

atio

n.

8.1.

2.3

Publ

ish

the

stra

tegi

c pl

an a

nd

dist

ribut

e to

key

stak

ehol

ders

.

Educ

atio

n C

omm

ittee

Educ

atio

n C

omm

ittee

Educ

atio

n C

omm

ittee

8.2

To m

aint

ain

hum

an c

apita

l su

ited

to m

eet

curr

ent

and

futu

re S

AC

CO

obj

ectiv

es.

8.2.

1R

ecru

it an

d re

tain

a

high

ly

mot

ivat

ed

and

com

pete

nt w

orkf

orce

.

8.2.

1.1

Rev

iew

staf

fing

need

s on

a co

ntin

uous

bas

is a

nd

appr

opria

tely

add

ress

iden

tifie

d ne

eds.

8.2.

1.2

Con

tinuo

usly

impl

emen

t tra

inin

g an

d de

velo

pmen

t pla

ns

base

d on

iden

tifie

d co

rpor

ate

and

indi

vidu

al tr

aini

ng n

eeds

.

8.2.

1.3

Con

tinuo

usly

upd

ate

Educ

atio

n C

omm

ittee

Exec

utiv

e C

omm

ittee

Educ

atio

n C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

31

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

care

er p

aths

and

succ

essi

on

plan

ning

.

8.2.

1.4

Con

tinuo

usly

Impr

ove

perf

orm

ance

eva

luat

ion

fram

ewor

k.

8.2.

1.5

Con

tinuo

usly

revi

ew st

aff

rew

ard/

reco

gniti

on p

olic

y.

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

8.2.

2R

eten

tion

of 1

00%

of

perf

orm

ing

staf

f ea

ch

year

ov

er

the

next

5

year

s.

4.1.

1C

ontin

uous

ly d

evel

op a

nd a

pply

a

perf

orm

ance

bas

ed c

riter

ia fo

r em

ploy

ee re

tent

ion/

exit.

4.1.

2C

ontin

uous

ly re

view

staf

f co

mpe

nsat

ion

in li

ne w

ith th

e sa

cco

stra

tegi

c ob

ject

ives

Exec

utiv

e C

omm

ittee

8.3

Cha

nge

Man

agem

ent.

8.3.

1D

evel

op a

nd s

usta

in a

dy

nam

ic

orga

niza

tiona

l cu

lture

8.3.

1.1

Esta

blis

h an

d su

stai

n ef

fect

ive

and

effic

ient

com

mun

icat

ion

chan

nels

bet

wee

n bo

ard

and

staf

f.

8.3.

1.2

Con

tinuo

usly

revi

ew

orga

niza

tiona

l stru

ctur

e an

d im

plem

ent c

hang

es to

enh

ance

ef

ficie

ncie

s.

8.3.

1.3

Con

tinuo

usly

pro

mot

e a

Educ

atio

n C

omm

ittee

Exec

utiv

e C

omm

ittee

Exec

utiv

e C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

32

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

cultu

re o

f inn

ovat

ion

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

33

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

9.Co

llabo

ratio

n,Pa

rtner

ship

and

Corp

orat

e Co

mm

unic

ati

on

9.1

To

enha

nce

colla

bora

tion,

an

d pa

rtner

ship

s w

ith a

n ai

m

of

expa

ndin

g th

e SA

CC

O

netw

ork.

9.1.

1Es

tabl

ish

and

mai

ntai

n va

lue-

addi

ng li

nkag

es in

pa

rtner

ship

w

ith

key

stak

ehol

ders

ov

er

the

next

5 y

ears

9.1.

1.1

Partn

er w

ith re

leva

nt

prof

essi

onal

bod

ies a

nd

inst

itutio

ns

9.1.

1.2

Con

tinuo

usly

Par

tner

with

all

colle

ges o

f hea

lth sc

ienc

es to

in

crea

se m

embe

rshi

p

Educ

atio

n C

omm

ittee

Educ

atio

n C

omm

ittee

9.2

To

have

vi

sibl

e,

wel

l un

ders

tood

an

d hi

ghly

re

gard

ed

com

mun

icat

ion

stra

tegy

by

all s

take

hold

ers.

9.2.

1M

anag

e SA

CC

O’s

co

rpor

ate

repu

tatio

n/im

age

9.2.

1.1

Prod

uctio

n of

pub

licity

m

ater

ials

.

9.2.

1.2

Prom

ote

the

SAC

CO

bra

nd in

th

e pu

blic

are

na v

ia m

ass

med

ia a

nd so

cial

net

wor

k pl

atfo

rms.

9.2.

1.3

Re-

desi

gn a

nd u

pdat

e co

rpor

ate

web

site

& o

ther

onl

ine

plat

form

s on

a co

ntin

uous

ba

sis.

9.2.

1.4

Reg

ular

ly O

rgan

ize

loca

l ev

ents

and

con

sulta

tive

for a

w

ith st

akeh

olde

rs.

9.2.

1.5

Reg

ular

ly u

se o

ther

Educ

atio

n C

omm

ittee

Keny

a M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

34

Key

Resu

lt Ar

eas

Goa

lSt

rate

gic

obje

ctiv

e St

rate

gies

even

ts/m

eetin

gs a

s a to

ol o

f co

mm

unic

atio

n w

ith m

embe

rs.

9.2.

1.6

Car

ry o

ut b

rand

per

cept

ion

surv

eys.

10.C

orpo

rate

Soci

al

Resp

onsib

ility

10.1

To

esta

blis

h an

d su

stai

n a

rele

vant

hi

gh

perf

orm

ance

co

rpor

ate

soci

al

resp

onsi

bilit

y fr

amew

ork

so

as

to

give

ba

ck

to

the

soci

ety.

10.1

.1D

evel

op

and

impl

emen

t a

CSR

pr

ogra

m

for

the

SAC

CO

in

the

next

fiv

e ye

ars.

10.1

.1.1

Rev

iew

CSR

pro

gram

in

line

with

the

Sacc

o C

SR p

olic

y Ed

ucat

ion

Com

mitt

ee

10.1

.1.2

App

ropr

iate

and

ex

pend

C

SR

Fund

co

mm

enci

ng 2

020.

10.1

.1.3

Expe

nse

not m

ore

than

2%

of

net

surp

lus t

o C

SR F

und

annu

ally

.

10.1

.1.4

Iden

tify

partn

ersh

ips f

or

vario

us C

SR a

ctiv

ities

Exec

utiv

e C

omm

ittee

Educ

atio

n C

omm

ittee

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

35

A.2

Det

aile

d ac

tion

plan

Key

Res

ult A

rea

1.

Prof

itabi

lity

Goa

l 1.

1T

o im

plem

ent

appr

opri

ate

stra

tegi

es a

nd a

ssoc

iate

d bu

sine

ss d

evel

opm

ent

initi

ativ

es s

o as

to

achi

eve

sust

aine

d bu

sine

ss p

rofit

abili

ty a

nd c

ompe

titiv

e re

turn

on

inve

stm

ent.

Stra

tegi

c ob

ject

ive

1.1.

1 G

row

Rev

enue

by

at le

ast 3

0% a

nnua

lly.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

Shs m

) 1.

1.1.

1M

aint

ain

oper

atio

nal c

ost i

ncom

e ra

tio

to b

elow

50%

. C

ost t

o in

com

e ra

tio

100%

10

0%

100%

10

0%

N/A

0.

00

Exec

utiv

e C

omm

ittee

1.1.

1.2

Con

tinuo

usly

revi

ew p

ricin

g of

exi

stin

g lo

an p

rodu

cts.

Pric

ing

guid

elin

es d

evel

oped

50

%

50%

N

IL

NIL

10

0%

0.00

C

redi

t/ In

vest

men

t C

omm

ittee

1.1.

1.3

Reg

ular

ly d

iver

sify

and

mod

ify p

rodu

cts

rang

e.N

umbe

r of p

rodu

cts

2 N

IL

2 N

IL

4 0.

00

Educ

atio

n C

omm

ittee

1.1.

1.4

Con

tinuo

usly

di

vers

ify

and

optim

ize

inve

stm

ent p

ortfo

lio fo

r the

SA

CC

O.

Perc

enta

ge c

once

ntra

tion

30%

30

%

30%

30

%

N/A

0.

00

Cre

dit/

Inve

stm

ent

Com

mitt

ee

Tot

al r

esou

rces

(Ksh

s m)

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

36

Key

Res

ult A

rea

2.

Inve

stm

ent

Goa

l 2.

1T

o en

sure

gro

wth

in th

e in

vest

men

t por

tfolio

in o

rder

to g

ive

a co

mpe

titiv

e re

turn

to m

embe

r

Stra

tegi

c ob

ject

ive

2.1.

1 In

crea

se th

e m

embe

r in

vest

men

t fun

ds b

y K

es. 1

bill

ion

in th

e ne

xt fi

ve y

ears

.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

Shs )

2.

1.1.

1G

row

mem

ber i

nves

tmen

t fun

ds b

y K

es.

200

mill

ion

annu

ally

. G

row

th in

inve

stm

ent f

unds

20

0 20

0 20

0 40

0 1

Bill

ion

0.00

C

redi

t/ In

vest

men

t C

omm

ittee

2.1.

1.2

Intro

duce

in

vest

men

t sp

ecifi

c m

arke

ting

cam

paig

ns.

Succ

essf

ul m

arke

t cam

paig

n 10

0%

NIL

N

IL

NIL

N

/A

0.00

C

redi

t/ In

vest

men

t C

omm

ittee

2.1.

1.3

Mob

ilize

long

-term

fixe

d de

posi

ts o

f Kes

. 20

0 M

illio

n P.

A.

by o

ffer

ing

attra

ctiv

e in

tere

st ra

tes

Com

petit

iven

ess

of

inte

rest

ra

tes

Com

petit

iven

ess o

f the

rate

dep

ends

on

mar

ket f

acto

rs

0.00

C

redi

t/ In

vest

men

t C

omm

ittee

Tot

al r

esou

rces

(Ksh

s )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

37

Key

Res

ult A

rea

2.

Inve

stm

ent

Goa

l 2.

1To

ens

ure

grow

th in

the

inve

stm

ent p

ortfo

lio in

ord

er to

giv

e a

com

petit

ive

retu

rn to

mem

ber

Stra

tegi

c ob

ject

ive

2.1.

2 In

crea

se th

e in

vest

men

t por

tfolio

to K

es 5

00 M

illio

n in

the

next

five

yea

rs.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

Shs )

2.

1.2.

1B

uild

inve

stm

ent r

eser

ve in

the

SAC

CO

by

at

leas

t Kes

. 200

mill

ion

annu

ally

. %

col

lect

ions

in th

e in

vest

men

t por

tfolio

200

200

200

400

1 B

illio

n 0.

00

Cre

dit/

Inve

stm

ent

Com

mitt

ee

2.1.

2.2

Ret

ain

at le

ast 1

0% o

f col

lect

ions

mon

thly

into

in

vest

men

t por

tfolio

. In

vest

men

t inc

ome

10%

10

%

10%

20

%

50%

0.

00

Cre

dit/

Inve

stm

ent

Com

mitt

ee

2.1.

2.3

Inve

st in

hig

h yi

eldi

ng v

entu

res,

benc

hmar

king

w

ith 3

65 G

over

nmen

t of K

enya

bon

d ra

tes.

Mon

thly

revi

ew o

f inv

estm

ent

portf

olio

repo

rts

NIL

N

IL

NIL

N

IL

NIL

0.

00

Gen

eral

M

anag

er

2.1.

2.4

Rev

iew

the

inve

stm

ent p

ortfo

lio o

n a

quar

terly

ba

sis.

Num

ber o

f lan

d bu

ys/s

ales

10

0%

100%

10

0%

100%

10

0%

0.00

C

redi

t/ In

vest

men

t C

omm

ittee

Tot

al r

esou

rces

(Ksh

s)

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

38

Key

Res

ult A

rea

2.

Inve

stm

ent

Goa

l 2.

1To

ens

ure

grow

th in

the

inve

stm

ent p

ortfo

lio in

ord

er to

giv

e a

com

petit

ive

retu

rn to

mem

ber

Stra

tegi

c ob

ject

ive

2.1.

3C

reat

e an

insu

ranc

e br

oker

age

fully

ow

ned

by K

MA

SA

CC

O b

y 20

21

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

shs)

2.

1.3.

1D

evel

op a

stra

tegi

c pl

an fo

r the

bro

kera

ge b

y 20

21

Stra

tegi

c pl

an

1N

ILN

ILN

IL1

0.00

M

edifi

nanc

e B

oard

Tot

al r

esou

rces

(Ksh

s )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

39

Key

Res

ult A

rea

2.

Inve

stm

ent

Goa

l 2.

2To

ens

ure

grow

th in

the

inve

stm

ent p

ortfo

lio in

ord

er to

giv

e a

com

petit

ive

retu

rn to

mem

ber

Stra

tegi

c ob

ject

ive

2.1.

4T

o in

crea

se In

sura

nce

inco

me

(com

mis

sion

s) b

y 50

% a

nnua

lly.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

shs)

2.

1.4.

1Ta

ilor m

ake

prod

ucts

for o

ur n

iche

mar

ket

No

of p

rodu

cts

NIL

N

IL

NIL

N

IL

NIL

0.

00

Med

ifina

nce

Boa

rd

2.1.

4.2

Dev

elop

a m

arke

ting

stra

tegy

to in

crea

se b

rand

an

d pr

oduc

t vis

ibili

ty.

Mar

ketin

g st

rate

gy

1 N

/A

N/A

N

/A

N/A

0.

00

Med

ifina

nce

Boa

rd

2.1.

4.3

Gro

w g

ener

al in

sura

nce

by 1

00%

ann

ually

. G

row

th in

com

mis

sion

s 10

0%

100%

10

0%

100%

10

0%

0.00

M

edifi

nanc

e B

oard

2.1.

4.4

Gro

w li

fe in

sura

nce

by 1

00%

ann

ually

. G

row

th in

com

mis

sion

s10

0%

100%

10

0%

100%

10

0%

0.00

M

edifi

nanc

e B

oard

2.1.

4.5

Gro

w m

edic

al in

sura

nce

by 1

00%

ann

ually

. G

row

th in

com

mis

sion

s10

0%

100%

10

0%

100%

10

0%

0.00

M

edifi

nanc

e B

oard

Tot

al r

esou

rces

(Ksh

s )

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

40

Key

Res

ult A

rea

2.

Inve

stm

ent

Goa

l 2.

1T

o en

sure

gro

wth

in th

e in

vest

men

t por

tfolio

in o

rder

to g

ive

a co

mpe

titiv

e re

turn

to m

embe

r

Stra

tegi

c ob

ject

ive

2.1.

5 In

crea

se a

ltern

ativ

e In

vest

men

t inc

ome

by 5

0% a

nnua

lly o

ver

the

next

five

yea

rs.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

shs

2.1.

5.1

Gro

w fi

nanc

ial i

nves

tmen

ts b

y 10

0% a

nnua

lly

Inve

stm

ent p

ortfo

lio

100%

10

0%

100%

10

0%

100%

0.

00

Med

ifina

nce

Boa

rd

2.1.

5.2

Gro

w re

al e

stat

e in

com

e by

100

% a

nnua

lly

Am

ount

of r

eal e

stat

e in

com

e 10

0%

100%

10

0%

100%

10

0%

0.00

M

edifi

nanc

e B

oard

2.1.

5.3

Gro

w o

ther

alte

rnat

ive

inco

me

by 1

00%

ann

ually

A

mou

nt o

f alte

rnat

ive

inco

me

100%

10

0%

100%

10

0%

100%

0.

00

Med

ifina

nce

Boa

rd

Tot

al r

esou

rces

(Ksh

s)

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

41

Key

Res

ult A

rea

3.

Cus

tody

Goa

l 3.

1 To

gro

w m

embe

r de

posi

ts in

ord

er to

ach

ieve

sust

aina

ble

grow

th a

nd r

etur

n on

inve

stm

ent.

Stra

tegi

c ob

ject

ive

3.1.

13.

1.1

Gro

w m

embe

r de

posit

by

600

mill

ion

p.a.

for

the

next

5 y

ears

St

rate

gies

Se

rvic

e de

liver

y ta

rget

s R

esou

rces

R

espo

nsib

ility

U

nit o

f mea

sure

Y

r1

Yr2

Y

r3

Yrs

4-5

To

tal

Tot

al c

ost

(Ksh

s )

3.1.

1.1

Gro

w m

embe

r dep

osits

by

20%

ann

ually

for t

he

next

five

yea

rs b

y:

Incr

easi

ng m

inim

um sa

ving

s to

Ksh

s. 50

00 p

er

mon

th fo

r prin

cipa

l mem

bers

and

Ksh

s. 10

00

for r

est f

rom

the

mon

th o

f Feb

ruar

y fo

r exi

stin

g m

embe

rs a

nd a

t rec

ruitm

ent f

or n

ew m

embe

rs.

Mem

ber d

epos

it gr

owth

rate

20

%

20%

20

%

40%

10

0%

0.00

Ed

ucat

ion

Com

mitt

ee

3.1.

1.2

Gro

w m

embe

rshi

p by

at l

east

20%

ann

ually

for

the

next

five

yea

rs b

y re

crui

ting

at le

ast 6

0 ne

w

mem

bers

per

mon

th. T

arge

t med

ical

scho

ols,

prof

essi

onal

ass

ocia

tions

, med

ical

inst

itutio

ns.

Mem

bers

hip

grow

th ra

te

20%

20

%

20%

40

%

100%

0.

00

Educ

atio

n C

omm

ittee

3.1.

1.3

Gro

w c

ore

capi

tal b

y K

es. 1

50 M

illio

n P.

A o

ver

the

next

5 y

ears

G

row

th in

cor

e ca

pita

l 10

0%

100%

10

0%

100%

10

0%

0.00

Ed

ucat

ion

Com

mitt

ee

3.1.

1.4

Ensu

re d

orm

ancy

rate

doe

s not

exc

eed

10%

of

A

ctiv

e m

embe

rshi

pD

orm

ancy

rate

N

IL

NIL

N

IL

NIL

N

/A0.

00

Educ

atio

n C

omm

ittee

3.1.

1.1

Ensu

re re

tent

ion

of 9

9% a

nnua

lly o

f the

Sac

co

Mem

bers

hip

Ret

entio

n ra

te

NIL

N

IL

NIL

N

IL

N/A

0.00

Ed

ucat

ion

Com

mitt

ee

Tot

al r

esou

rces

(Ksh

s)

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

42

Key

Res

ult A

rea

3. C

usto

dy

Goa

l 3.

1 T

o gr

ow m

embe

r de

posi

ts in

ord

er to

ach

ieve

sust

aina

ble

grow

th a

nd r

etur

n on

inve

stm

ent.

Stra

tegi

c ob

ject

ive

3.1.

13.

1.1

Gro

w m

embe

r de

posi

t by

600

mill

ion

p.a.

for

the

next

5 y

ears

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )

Tota

l res

ourc

es (K

shs)

Key

Res

ult A

rea

4. L

endi

ng a

nd o

pera

tiona

l eff

icie

ncy

Goa

l 4.

1To

incr

ease

the

loan

boo

k to

ach

ieve

sust

aina

ble

grow

th.

Stra

tegi

c ob

ject

ive

4.1.

1 In

crea

se lo

an b

ook

by 2

0% a

nnua

lly o

ver

the

next

five

yea

rs.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(KSh

s )4.

1.1.

1G

row

new

loan

s by

at le

ast 6

0% a

nnua

llyLo

an b

ook

grow

th10

0%10

0%10

0%10

0%10

0%0.

00C

redi

t/ In

vest

men

t C

omm

ittee

Ken

ya M

edic

al A

ssoc

iatio

n SA

CC

O

St

rate

gic

Plan

202

0-20

24

43

Key

Res

ult A

rea

4.

Len

ding

and

ope

ratio

nal e

ffic

ienc

y

Goa

l

4.1

To

incr

ease

the

loan

boo

k to

ach

ieve

sust

aina

ble

grow

th.

Stra

tegi

c ob

ject

ive

4.1.

1 In

crea

se lo

an b

ook

by 2

0% a

nnua

lly o

ver

the

next

five

yea

rs.

St

rate

gies

Se

rvic

e de

liver

y ta

rget

s R

esou

rces

R

espo

nsib

ility

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tot

al

Tot

al c

ost

(KSh

s )

4.1.

1.2

Targ

et fu

ll lo

an re

paym

ent p

erio

d fo

r 90%

of t

he

loan

s dis

burs

ed.

Ave

rage

repa

ymen

t per

iod

NIL

N

IL

NIL

N

IL

N/A

0.

00

Cre

dit/

Inve

stm

ent

Com

mitt

ee

Tot

al r

esou

rces

(Ksh

s )

0.0

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

44

Key

Res

ult A

rea

4. L

endi

ng a

nd o

pera

tiona

l eff

icie

ncy.

Goa

l 4.

2 To

opt

imiz

e th

e lo

an tu

rnar

ound

tim

e.

Stra

tegi

c ob

ject

ive

4.2.

1M

aint

ain

loan

turn

-aro

und

time

at 1

4 w

orki

ng d

ays.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(KSh

s m)

4.2.

1.1

Con

tinuo

usly

aud

it th

e lo

an p

roce

ss a

nd p

ut in

pl

ace

a co

ntin

uous

qua

lity

impr

ovem

ent p

lan

Loan

turn

-aro

und

time

100%

NIL

NIL

NIL

100%

0.00

Cre

dit/

Inve

stm

ent

Com

mitt

ee

4.2.

1.2

Dig

itizi

ng lo

an a

pplic

atio

n an

d ap

prov

al p

roce

sses

by

202

2N

o of

dig

ital l

oans

dis

burs

edN

IL10

0%N

ILN

IL10

0%0.

00C

redi

t/ In

vest

men

t C

omm

ittee

Tota

l res

ourc

es (K

shs m

)0.

0

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Pla

n 20

20-2

024

45

Key

Res

ult A

rea

5.

Cor

pora

te G

over

nanc

e

Goa

l 5.

1T

o ha

ve a

n ac

coun

tabl

e an

d tr

ansp

aren

t SA

CC

O b

y pu

ttin

g in

pla

ce th

e re

leva

nt a

nd e

ffic

ient

syst

ems a

nd p

roce

sses

.

Stra

tegi

c ob

ject

ive

5.1.

1 A

dher

e to

all

stat

utor

y re

quir

emen

ts.

Stra

tegi

es

Serv

ice

deliv

ery

targ

ets

Res

ourc

es

Res

pons

ibili

ty

Uni

t of m

easu

re

Yr1

Y

r2

Yr3

Y

rs 4

-5

Tota

l T

otal

cos

t (K

shs )

5.1.

1.1

Con

tinuo

usly

revi

ew a

nd c

ompl

y w

ith th

e Sa

cco

Byl

aws

Com

plia

nce

rate

10

0%

NIL

N

IL

NIL

10

0%

0.00

Ex

ecut

ive

Com

mitt

ee

5.1.

1.2

Com

ply

with

the

rele

vant

law

s C

ompl

ianc

e ra

te

100%

N

IL

NIL

N

IL

100%

0.

00

Exec

utiv

e C

omm

ittee

5.1.

1.3

Adh

ere

to b

est c

orpo

rate

gov

erna

nce

prac

tices

. C

ompl

ianc

e ra

te to

go

vern

ance

pra

ctic

es

100%

N

IL

NIL

N

IL

100%

0.

00

Exec

utiv

e C

omm

ittee

Tot

al r

esou

rces

(Ksh

s)

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

46

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

1T

o ha

ve a

n ac

coun

tabl

e an

d tr

ansp

aren

t SA

CC

O b

y pu

ttin

g in

pla

ce th

e re

leva

nt a

nd e

ffic

ient

syst

ems a

nd p

roce

sses

.

Stra

tegi

c ob

ject

ive

5.1.

1 A

dher

e to

all

stat

utor

y re

quir

emen

ts.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )

5.1.

1.1

Con

tinuo

usly

revi

ew a

nd c

ompl

y w

ith th

e Sa

cco

Byl

aws

Com

plia

nce

rate

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.1.

1.2

Com

ply

with

the

rele

vant

law

sC

ompl

ianc

e ra

te10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

5.1.

1.3

Adh

ere

to b

est c

orpo

rate

gov

erna

nce

prac

tices

.C

ompl

ianc

e ra

te to

go

vern

ance

pra

ctic

es10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

Tota

l res

ourc

es (K

shs)

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

47

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

1T

o ha

ve a

n ac

coun

tabl

e an

d tr

ansp

aren

t SA

CC

O b

y pu

ttin

g in

pla

ce th

e re

leva

nt a

nd e

ffic

ient

syst

ems a

nd p

roce

sses

.

Stra

tegi

c ob

ject

ive

5.1.

2E

nsur

e tr

ansp

aren

cy a

nd a

ccou

ntab

ility

.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )

5.1.

2.1

Prov

ide

timel

y, c

ompl

ete

and

accu

rate

pe

rform

ance

repo

rts to

all

stak

ehol

ders

Tim

elin

ess o

f per

form

ance

re

ports

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.1.

2.2

Prov

ide

full

disc

losu

re o

n al

l mat

eria

l mat

ters

.M

ater

ial m

atte

rs10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

48

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

2 E

stab

lish

and

sust

ain

an e

ffec

tive

gove

rnan

ce st

ruct

ure

to e

nhan

ce a

ccou

ntab

ility

, sys

tem

s and

pro

cess

es

Stra

tegi

c ob

ject

ive

5.2.

1E

stab

lish

a pe

rfor

man

ce m

anag

emen

t fra

mew

ork.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )5.

2.1.

1 Es

tabl

ish

appr

aisa

l crit

eria

for t

he b

oard

by

end

of

20

20.

Perfo

rman

ce c

ontra

ct10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

5.2.

1.2

Impl

emen

t an

annu

al b

oard

per

form

ance

app

rais

al

fram

ewor

k by

end

of 2

020

Perfo

rman

ce e

valu

atio

n cr

iteria

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.2.

1.3

Rev

iew

the

boar

d ap

prai

sal c

riter

ia a

s nee

d ar

ises

Perfo

rman

ce e

valu

atio

n cr

iteria

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

49

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

3 Es

tabl

ish

effe

ctiv

e ri

sk M

anag

emen

t

Stra

tegi

c ob

ject

ive

5.3.

1En

sure

an

effe

ctiv

e ri

sk m

anag

emen

t and

con

trol

pro

cess

.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )5.

3.1.

1 A

sses

s and

miti

gate

fina

ncia

l, op

erat

iona

l and

co

mpl

ianc

e ris

kC

ompl

ianc

e ra

te10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

Tota

l res

ourc

es (K

shs )

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

50

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

4 S

tren

gthe

n ri

sk m

anag

emen

t fra

mew

ork

of th

e so

ciet

y

Stra

tegi

c ob

ject

ive

5.4.

1 En

sure

the

Sacc

o co

mpl

ies t

o al

l rel

evan

t leg

al a

nd r

egul

ator

y re

quir

emen

tsSt

rate

gies

Serv

ice

deliv

ery

targ

ets

Res

ourc

esR

espo

nsib

ility

Uni

t of m

easu

reY

r1Y

r2Y

r3Y

rs 4

-5To

tal

Tota

l cos

t (K

shs )

5.4.

1.1

Mee

t rel

evan

t SA

CC

O re

gula

tions

as r

equi

red

Com

plia

nce

rate

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.4.

1.2

Kee

p pa

ce w

ith a

ll ch

ange

s in

regu

lato

ry a

nd

legi

slat

ive

fram

ewor

k

Com

plia

nce

rate

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.4.

1.3

Bui

ld c

apac

ity in

the

boar

d an

d st

aff t

o be

up

to

date

on

all r

egul

ator

y re

quire

men

ts

Com

plia

nce

rate

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

51

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

4 S

tren

gthe

n ri

sk m

anag

emen

t fra

mew

ork

of th

e so

ciet

y

Stra

tegi

c ob

ject

ive

5.4.

2D

evel

op B

usin

ess C

ontin

uity

Pla

n by

202

0St

rate

gies

Serv

ice

deliv

ery

targ

ets

Res

ourc

esR

espo

nsib

ility

Uni

t of m

easu

reY

r1Y

r2Y

r3Y

rs 4

-5To

tal

Tota

l cos

t (K

shs )

5.4.

2.1

Acq

uire

clo

ud c

ompu

ting

infra

stru

ctur

e by

202

0Sy

stem

upt

ime

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.4.

2.2

Iden

tify

optio

ns fo

r alte

rnat

ive

wor

king

site

s by

2020

Rec

over

y pl

an10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

52

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

4 S

tren

gthe

n ri

sk m

anag

emen

t fra

mew

ork

of th

e so

ciet

y

Stra

tegi

c ob

ject

ive

5.4.

3D

evel

op N

ew a

nd R

evie

w e

xist

ing

polic

ies t

o co

mpl

y w

ith th

e de

velo

pmen

ts a

nd c

hang

es in

the

area

s the

y re

late

toSt

rate

gies

Serv

ice

deliv

ery

targ

ets

Res

ourc

esR

espo

nsib

ility

Uni

t of m

easu

reY

r1Y

r2Y

r3Y

rs 4

-5To

tal

Tota

l cos

t (K

shs )

5.4.

3.1

Dev

elop

risk

man

agem

ent p

olic

y by

202

0R

isk

man

agem

ent p

olic

y10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

5.4.

3.2

Dev

elop

bus

ines

s con

tinui

ty p

olic

y by

20

20

Bus

ines

s con

tinui

ty p

olic

y10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

5.4.

3.3

Dev

elop

div

iden

d po

licy

by 2

020

Div

iden

d po

licy

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.4.

3.4

Dev

elop

a C

SR p

olic

y by

202

0C

SR p

olic

y10

0%N

ILN

ILN

IL10

0%0.

00Ex

ecut

ive

Com

mitt

ee

5.4.

3.5

Con

tinuo

usly

revi

ew a

ll ex

istin

g Sa

cco

polic

ies,

Byl

aws,

Cha

rters

Upd

ated

Sac

co p

olic

ies,

Byl

aws,

Cha

rters

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

53

Key

Res

ult A

rea

5. C

orpo

rate

Gov

erna

nce

Goa

l 5.

4 S

tren

gthe

n ri

sk m

anag

emen

t fra

mew

ork

of th

e so

ciet

y

Stra

tegi

c ob

ject

ive

5.4.

4 C

reat

e an

effi

cien

t Int

erna

l Aud

it &

Ris

k M

anag

emen

t pro

cess

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )

5.4.

4.1

Aut

omat

e in

tern

al a

udit

proc

esse

s by

end

of 2

020

Aut

omat

ed a

udit

proc

ess

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

5.4.

4.2

Con

tinuo

usly

dev

elop

cap

acity

of th

e au

dit s

taff

No.

of q

ualif

ied

audi

tors

100%

NIL

NIL

NIL

100%

0.00

Exec

utiv

e C

omm

ittee

Tota

l res

ourc

es (K

shs )

0.00

Ken

ya M

edic

al A

ssoc

iatio

n SA

CCO

St

rate

gic

Plan

202

0-20

24

54

Key

Res

ult A

rea

6. C

usto

mer

Exp

erie

nce.

Goa

l 6.

1 D

evel

op a

nd im

plem

ent a

n ef

fect

ive

cust

omer

exp

erie

nce

fram

ewor

k as

a m

eans

to e

nsur

ing

cust

omer

satis

fact

ion.

Stra

tegi

c ob

ject

ive

6.1.

1 En

sure

exc

elle

nt c

usto

mer

exp

erie

nce

by d

evel

opm

ent

and

impl

emen

tatio

n of

Ser

vice

Cha

rter

and

com

mun

icat

ion

char

ter.

Stra

tegi

esSe

rvic

e de

liver

y ta

rget

sR

esou

rces

Res

pons

ibili

tyU

nit o

f mea

sure

Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(Ksh

s )6.

1.1.

1 D

eter

min

e an

d co

ntin

uous

ly im

prov

e th

e tu

rn-

arou

nd ti

mes

for s

ervi

ce d

eliv

ery

Turn

-aro

und

time

dete

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Ken

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St

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Plan

202

0-20

24

55

Key

Res

ult A

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6. C

usto

mer

Exp

erie

nce.

Goa

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1 D

evel

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plem

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a m

eans

to e

nsur

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satis

fact

ion.

Stra

tegi

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ject

ive

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2Im

prov

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mm

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atio

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amew

ork

with

stak

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.

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Act

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Num

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CCO

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Plan

202

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24

56

Key

Res

ult A

rea

6. C

usto

mer

rel

atio

ns.

Goa

l 6.

1 D

evel

op a

nd im

plem

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n ef

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ive

cust

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rel

atio

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amew

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as a

mea

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obt

aini

ng c

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satis

fact

ion

Stra

tegi

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ject

ive

6.1.

3To

ens

ure

high

qua

lity

serv

ices

are

del

iver

ed th

roug

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e es

tabl

ishm

ent o

f an

effe

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agem

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roce

ss.

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Yr2

Yr3

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lTo

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cus

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RM

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Succ

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CR

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Educ

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6.1.

3.2

Car

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fact

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surv

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annu

ally

ove

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nex

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e ye

ars.

Cus

tom

er sa

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ctio

n su

rvey

re

port.

11

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50.

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ion

Com

mitt

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Tota

l res

ourc

es (K

shs)

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Ken

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CCO

St

rate

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Plan

202

0-20

24

57

Key

Res

ult A

rea

7. IC

T in

fras

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l 7.

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aint

ain

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ffec

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ctic

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CO

ope

ratio

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Stra

tegi

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ject

ive

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uous

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gitiz

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SAC

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Exec

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Ken

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202

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Key

Res

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7. IC

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Goa

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ctic

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Stra

tegi

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ject

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7.1.

2 En

sure

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exp

loits

inno

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com

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apab

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tera

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Dev

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app

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7.1.

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Initi

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mob

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Tota

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Ken

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CCO

St

rate

gic

Plan

202

0-20

24

59

Key

Res

ult A

rea

8.H

uman

Cap

ital

Goa

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18.

1 To

shar

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gy in

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fulfi

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t of t

he S

AC

CO

s mis

sion

and

obj

ectiv

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Stra

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8.1.

1En

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that

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Boa

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aff u

nder

stan

d th

e or

gani

zatio

n’s c

orpo

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Yr2

Yr3

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4-5

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8.1.

1.1

Con

tinuo

usly

Com

mun

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are

info

rmat

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rega

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rate

gy a

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gani

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acr

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Num

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Exec

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1.2C

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Bra

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10

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mitt

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8.1.

1.3

Con

tinuo

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artic

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of st

aff i

n im

plem

enta

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of st

rate

gy/e

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stra

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100%

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Exec

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8.1.

1.4

Car

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ut a

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nual

revi

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f im

plem

enta

tion

of th

e st

rate

gic

plan

ove

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nex

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Mid

-term

revi

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port

11

12

50.

00Ex

ecut

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Com

mitt

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Ken

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edic

al A

ssoc

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CCO

St

rate

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Plan

202

0-20

24

60

Key

Res

ult A

rea

8.H

uman

Cap

ital

Goa

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18.

1 To

shar

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rate

gy in

ord

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fulfi

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t of t

he S

AC

CO

s mis

sion

and

obj

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Stra

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8.1.

1En

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Boa

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Yr2

Yr3

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4-5

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lTo

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8.1.

1.5

Con

tinuo

usly

rece

ive

feed

back

from

staf

f re

gard

ing

stra

tegi

c pl

ans.

Num

ber

of

repo

rts

(com

plim

ents

/

com

plai

nts.)

100%

100%

100%

100%

100%

0.00

Exec

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Tota

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Ken

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CCO

St

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202

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Key

Res

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8. H

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Goa

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e st

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fulfi

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t of t

he S

AC

CO

s mis

sion

and

obj

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Stra

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8.1.

2En

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that

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stra

tegy

is u

nder

stoo

d am

ong

all t

he st

akeh

olde

rs.

Stra

tegi

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liver

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Yr2

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Use

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erna

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mun

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Stra

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upl

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acco

w

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sued

.

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Educ

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omm

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8.1.

2.3

Publ

ish

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stra

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an a

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to k

ey

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umbe

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Ken

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CCO

St

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Plan

202

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Key

Res

ult A

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8. H

uman

res

ourc

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Goa

l 8.

2 To

mai

ntai

n hu

man

cap

ital s

uite

d to

mee

t cur

rent

and

futu

re S

AC

CO

obj

ectiv

es.

Stra

tegi

c ob

ject

ive

8.2.

1 R

ecru

it an

d re

tain

a h

ighl

y m

otiv

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and

com

pete

nt w

orkf

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.

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Yr3

Yrs

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lTo

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8.2.

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Rev

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sta

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n a

cont

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us b

asis

and

ap

prop

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ly a

ddre

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need

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Num

bers

of p

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crui

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ed o

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and

need

s aris

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0.00

Exec

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8.2.

1.2

Con

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usly

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pmen

t pla

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ased

on

iden

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8.2.

1.3

Con

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care

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8.2.

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Con

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Im

prov

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ev

alua

tion

fram

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kPe

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ev

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tion

fram

ewor

k.

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NIL

NIL

N/A

0.00

Exec

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omm

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8.2.

1.5

Con

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st

aff

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Ken

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CCO

St

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Plan

202

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63

Key

Res

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Cap

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Goa

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2 To

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man

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and

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AC

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obj

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Stra

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2 R

eten

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of 1

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aff e

ach

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Yrs

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Tota

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8.2.

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Con

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Com

mitt

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8.2.

2.2

Con

tinuo

usly

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aff c

ompe

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ion

in li

ne

with

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sacc

o st

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obje

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Exec

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Tota

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Ken

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CCO

St

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Plan

202

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64

Key

Res

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rea

8. H

uman

res

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Goa

l 8.

3C

hang

e M

anag

emen

t.

Stra

tegi

c ob

ject

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1 D

evel

op a

nd su

stai

n a

dyna

mic

org

aniz

atio

nal c

ultu

re

Stra

tegi

esSe

rvic

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liver

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sR

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Yr1

Yr2

Yr3

Yrs

4-5

Tota

lTo

tal c

ost

(KSh

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8.3.

1.1

Esta

blis

h an

d su

stai

n ef

fect

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com

mun

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ion

chan

nels

bet

wee

n bo

ard

and

staf

f.R

egul

ar

mee

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be

twee

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anag

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t &

B

oard

an

d M

anag

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t and

staf

f.

100%

NIL

NIL

NIL

100%

0.00

Educ

atio

n C

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8.3.

1.2

Con

tinuo

usly

revi

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rgan

izat

iona

l stru

ctur

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d im

plem

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hang

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enh

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y/M

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Com

mitt

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8.3.

1.3

Con

tinuo

usly

pro

mot

e a

cultu

re o

f inn

ovat

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Succ

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of

cultu

re

chan

ge

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Exec

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Ken

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9.1.

1.2

Con

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Educ

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Ken

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9.2.

1.4

Reg

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Ken

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Educ

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kenya medical association sacco strategic plan: 2020 - 2024

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