We share the key highlights of the report.
Loan Utilization Previously most loans taken by members were largely consumable loans, members made a resolution last year that 80% of the loans disbursed would forthwith be productive loans. The executive implemented this and the chairman’s report reflects that there has been a paradigm shift in most members’. Through continued mindset change most of the loans that have been taken this year have been majorly investment loans across the pillars with economic empowerment leading. |
- Members should embrace FSP and have deliberate and strategic saving in order to act as a fall back during emergencies.
- Intensification of priority value chain development by embracing agribusiness for both food security and financial stability.
- Development of business plans and indicating intentions to take loans at least two months prior to taking loans to avoid impulse loan utilization.
- Empowering the loan advisory department by facilitating regular meetings of the same to deliberate on loan applications, advice on loan utilization and business plans to establish their viability.
The investment areas identified for which the Technical Committee will do due diligence and report to the members include:
- Utilization of the organization’s Land - construction of group headquarter, mega poultry establishment and conference facilities and other utilities
- Establishment of an Agro-Vet facility at Chemelil
The report presented key achievements in other pillars and activities including: on-going capacity development programmes; governance and organizational strengthening (attendance of meetings, conduct of meetings, leadership and integrity, collection, delivery and record keeping, improvement in book keeping, on-going auditing); organization’s physical office to be located temporarily in Oseng’tetei and later at the headquarters to be constructed in Awasi; emerging issues including need to review the constitution.
The following new members were admitted to the group. They were urged to read, understand and adhere to the group’s constitution:
- Francis Kabaka Odanga
- Aldrin Oluoch Membo
- Donald Ochieng Membo
- Mollyne Akinyi Odek