FINANCIAL PERFORMANCE PILLAR
Objective 1: Achieve loan default rate of 3% against total loan portfolio by August 2012 and sustain annually thereafter
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Ensure quality appraisal of loans Review loan application forms for adequacy Revised loan form
By the 5th of every
month and every month in BOD meeting
Credit Committee Nil Verify completeness of loan
application forms Nil errors during loan approval meeting Apr-12 Credit Committee Nil Raise exception report Exception Reports Apr-12 Credit Committee Nil Ensure efficient and effective reporting Evaluate current ICT system capacity Evaluation report Jun-12 Executive Nil
Submission of loan reports during
monthly board meetings Timeliness of reports Mar-12 Credit Committee Nil Enhance our understanding of our
customers with a view of identifying risky ones
Assess Biblia Sacco Units and their capability to sustain their monthly remittances
Assessment report February 2014 CEO Nil Develop a tool for assessment Developed tool February 2014 CEO
Review the securitization of loan
procedures Review and update the loan policy Revised loan policy End of February Credit Committee Ksh 50,000
Objective 2: Increase institutional capital to KES 129 million by 2016
Ensure institutional capital increases by 20% annually
Develop annual mechanism that ensure capital increases by 20% annually
Annual written plan to
Objective 3: To grow the share capital to 10 million by end of 2012 and thereafter maintain an annual growth rate of 30%
To ensure 10m increase in 2012 Formulate AGM proposal to increase member share capital by 50% and
retain % of income annually AGM Resolution By December 2012 Executive Nil Ensure retention of at least 1% of income
annually Retain 1% income annually Annual financial statements Apr-12 Executive To carry out a recruitment drive for new
members targeting speficic number every year.
Recruitment of at least 750
annually List of new members by Dec. 2012 Education Identify and recruit 10 units by end
of 2012 List of the ten units by Dec. 2012 Education Increase awareness and recruitment
drive in the existing unit through
quarterly visits Reports from visits by Dec. 2012 Education
Objective 4: To grow our loan portfolio by 30% by December 2012 and thereafter by 5% annually
Ensure disbursement of at least Kshs 27
million in loans per month Review credit policy to increase upper limit Increased upper limit December 2012 Credit Committee Nil Aggressive marketing of loan
products % growth May-14 Credit Committee
Cost of current marketing drives
Objective 5: To maintain costs at 25% of turnover annually
Ensure robust system of monitoring
budget implementation Formulate a budgeting tool to help us monitor the 25% on turn over Budgeting monitoring tool March 2014 Executive Nil Review and enforce a robust
Strengthen procurement process Monthly spot checks of procurement
process to ensure compliance Spot check reports February 2014 Executive Kshs 50,000
Objective 6. To ensure availability of at least 27 million monthly for loan disbursement
Mobilize deposits to the tune of Kshs 25
million per month Recruit 50 new members per month List of new members Dec-12 Education
Cost of current marketing drives, stationery, adverts Conduct periodic savings drives % increase in savings Jan-00 Credit Committee Nil Create incentive schemes for highest
savers/ most improved savers Number of awards given Dec-12 Education
Cost of various awards Develop premium loan products for
high savers % Loans disbursed Dec-12 Credit Committee Nil
Objective 7: To ensure 100% investment of idle funds in 2012 and continuously thereafter
To ensure the investment policy is regulary
updated Ensure deliberate investment of idle
cash Quarterly feedback of invested funds
Aug-12 Executive Kshs 50,000 Review and implement the policy Revised policy February 2014 Executive
CORPORATE GOVERNANCE
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Objective 1: Strengthen the performance of the Sacco through 100% compliance with the industry regulations
Ensure availability of a compliance checklist
Consolidate all regulations and
develop a compliance checklist Consolidated list and checklist June 2014 Executive Nil
Ensure board sub-committees are aligned to industry norms.
To reconstitute committees to include Audit, Risk and Governance, and Budget committees
Reconstituted
Committees Apr-14 Executive Nil Ensure board members are well trained
on compliance Train board members in a variety of governance areas Training reports
December 2012 and annually
thereafter Executive Kshs. 95,000 Ensure a code of conduct exist and
being enforced
Develop a code of conduct
document Code of conduct policy April 2014 Executive Kshs 50,000
Objective 2: To ensure the understanding of policies, laws and regulations by the BOD, staff and members through training
Enhance member education on their rights and how to maximize the benefits available to them
Training on benefits and rights of
members Training materials and report
September 2012 and
ongoing Education 250,000 Ensure regular education of members
on emerging developments within the industry
Organize at least two education
days per year Education day report
September 2012 and
Ensure that the Sacco officials attend appropriate trainings every year
Identify training needs of the BOD and staff and develop a training
schedule for the year Training schedule
September 2012 and
ongoing Education
Develop a tool for nominating and attendance by various committee members
Developed tools December 2012 and ongoing Education Quotations from vendors
Objective 3: To strengthen communication and decision making within the Sacco
Ensure that relevant policy documents
are in place and are in use. Organize staff refresher training on organizational policies and upload
polies in the website Training report and uploaded documents
Aug-14 Executive Kshs 350,000
Develop a policy checklist indicating version dates
Policy checklist Dec-12 Executive
Ensure timely meetings and dissemination of minutes
Develop calendar of meeting and circulate minutes immediately after meeting
Notice of meetings and
BOD minutes Ongoing Executive Nil
Objective 4: Enhance the Society’s relationship with other stakeholders for exchange of mutually beneficial ideas
Establish networks and partnerships Mapping of like minded institutions and entering into partnerships Number of partners Dec-13 CEO Nil Schedule of quarterly forums for
Objective 5: To improve the society’s internal controls and compliance with legal requirements.
Ensure compliance with the legal requirements of the SACCO Societies Act at the time.
Regularly update by-laws to reflect
the current legislative changes Revised by-laws Oct-14 Executive Nil
Develop and maintain a list of
regulation register Nil variance in compliance Ongoing Supervisory Nil Monitoring and evaluation of the
Strategic Plan documents Assess annual action plans for each sub-committee Reports Every year Supervisory Nil
Quarterly reviews of action-plans Reports March, June, September and
HUMAN RESOURCE MANAGEMENT AND ADMINISTRATION
Objective 1: Optimize staff performance
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Review the organizational
structure Conduct job analysis and evaluation to identify staffing gaps; Report By August 2012 Manager Kshs 200,000 Ensure recruitment and
placement of competent
staff Conduct job analysis Report Aug-12 Manager Nil
Identify vacancy positions Identified vacant positions Aug-12 Manager Nil Competitively fill vacant position within or
without the Sacco Number of filled positions Aug-12 Manager Kshs 150,000 Ensure fair and equitable
compensation of staff Conduct salary survey and align compensations to market Salary review report Aug-12 Manager
Objective 2: To improve the performance management tools and systems
Develop a performance
management system Develop appropriate job descriptions for all staff Job descriptions By December 2012 Manager Kshs 300,000 Develop appropriate appraisal tools Performance Management Systems By December 2012 Manager
Develop appropriate rewarding / remedial
system Documented performance reward sytem By December 2012 BOD
Conduct meaningful staff appraisal annually Number of appraisals By December 2012 Manager/ BOD Nil
Objective 3: To improve the competences of the human capital
Ensure training of staff
annually Identify training needs Number of staff trained Annually Manager and BOD Nil Develop and implement annual training and
development plan Training plan Annually Manager Nil
Objective 4: To improve the society’s time management systems
Ensure timely service
delivery Develop Service Charter Nil variance to SLAs Annually Executive Kshs 50,000 Develop and implement attendance rotas to
OPERATIONAL EFFICIENCY
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Objective 1: To ensure compliance to laid down systems and procedure up to 100%
Enhance staff and board members’ understanding of approved systems and procedures.
Organize training on Sacco systems
and procedures Training report May-14 Executive Nil Conduct monthly compliance spot
checks Number of spot checks Dec-14 Executive Nil Monitor implementation of Audit
recommendations
% level of implementation
annually Apr-12 Executive Nil Enhance the level of assurance on the
Society’s performance Setting up an internal auditing department Number of staff in audit department Dec-14 Executive Nil Establish efficient and effective
internal control systems Audit rating Dec-14 Executive Nil
Objective 2: To optimize the use of communication and information technology
Ensure continuous upgrade and
Quarterly update of website Number of visits March, June, September,
December CEO Kshs 50,000 Ensure a working accounting system Reports Aug-12 CEO As above Upgrade the accounting system to
including receipting and cheque
writing Reports Dec-12 CEO As above
Upgrade the telephone system to
accommodate mobile phoning Increase in level of customer satisfaction Aug-12 CEO Seek quotation from Vendor
Objective 3: To improve the internal controls system
Strengthen internal control processes
of the Sacco Assess and report on the Sacco internal control process Assessment report Dec-13 Executive Address gaps identified in the
assessment report Reviewed assessmen report Every year Executive Ensure existence of a robust internal
control in accounting system software
Evaluate the adequacy of the capacity of the current software and controls
therein Report Dec-12 Executive Nil
Implement the report of the
INFRASTRUCTURE
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Objective 1: To acquire adequate office space for the Sacco operations
Ensure procurement of modern office
that meets the Sacco requirement Evaluate current and future needs of the Society for space Report Dec-14 Executive Nil Carry out a survey on adequate office
premises Report Dec-14 Executive Nil
Develop a budget and identify
financing options Budget Dec-14 Executive Nil
Lease or buy Lease Dec-14 Executive Kshs. 15m
Objective 2 : To ensure that the Society maintains up to date hardware, software and other equipment
Ensure consistently maintained and updated IT equipments
To develop a procurement and disposal of equipment, tools, and
hardware policy Policy document Dec-14 CEO Evaluate the adequacy of the capacity
Objective 3: To enhance public relations and boost the Society’s image
Ensure an appropriate motorvehicle
MARKETING AND CUSTOMER CARE
STRATEGIES ACTIVITIES PERFORMANCE INDICATORS TIMELINE BY WHO BUDGET
Objective1 : To double Sacco membership by the end of 2016
Ensure the Common Bond is widened to reach individual Christians all over Kenya
Amend by-laws and seek members
approval Revised approved by-laws Apr-12 Executive Nil Enhance advertising using printing and
audio channels Number of adverts Apr-12 Education Rebrand the Society image, products and
services Rebranded materials Apr-12 Education Survey and identify potential units
outside the current jurisdiction Survey report Apr-12 Education Visit and recruit the potential units Number of new units Ongoing Education
Ensure non-members from existing
units are reached out and recruited To identify potential members within the existing units
Variance between data of workforce and membership of existing units and actual registered members from those units
Apr-12 Education
Using interns/ and direct sales teams to
Ensure existing members are
engaged in recruiting new members Develop incentive scheme for members who recruit new ones Incentive program Apr-12 Education
Ensure retention mechanism of
members Obtain feedback from new and old members on the services they need Feedback report Apr-12 Education Nil
Organise relevant trainings of interest to
members Training report Annually Education
Current cost of marketing drives Increase contact hours with members
through friendly engagement when they visit the office
Feedback report from
members Ongoing Education
Objective 2: To ensure our products meet customer demands up to 100%.
Ensure FOSA outlet are established
in Nairobi Seek members approval Minutes Dec-14 Credit Committee Improve and Increase the number
of products as per members’ demand
To conduct a products and services
needs survey Report Apr-13 Credit Committee Nil Design/ redesign products and services
to make them more attractive to
members Number of products Dec-13
Credit
Committee Nil Launch and promote the products during
education and AGM days and using the
website Report Dec-12
Credit
Insert the products features as a
footnote on members statements Report Dec-12 CEO Nil
Review brochures to include new
product features Revised brochures Apr-14 Credit Committee Seek quotation from vendors
Objective 3: Ensure 90% customer satisfaction
Enhance customer service Train all staff and BOD in customer care Reduction in number of complaints August 2012 and
continuously Education
Seek quotations from vendors Conduct customer satisfaction surveys Survey report Dec-14 CEO Nil
