THE CO-OPERATIVE UNIVERSITY OF KENYA
FACULTY OF CO-OPERATIVES AND COMMUNITY DEVELOPMENT
DEPERTMENT OF CO-OPERATIVES AND AGRIBUSINESS
MANAGEMENT ( DCAM)
INDUSTRIAL ATTACHMENT REPORT AT MTITO ANDEI SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED.
PREPARED BY:
IKUTHU WILLIAM MUNYAO .
REG. NO. BCOBC01/0035/2015 .
BACHELOR OF CO-OPERATIVE BUSINESS (BCOB)
MARKETING OPTION.
ACADEMIC SUPERVISOR: MARY MBUGUA .
FIELD SUPERVISOR: PETER NGAO .
SEPTEMBER, 2018.
DECLARATION
This industrial attachment report at mtito Andei savings and credit co-operative society is the original work done by me from my personal exposure at the above stated society. It has never been presented be fore the Faculty of Co-operatives and Community D evelopment for the award of a Bachelor’s D egree in Co-operative Busin ess at T he Co-operative U niversity of K enya. Any duplication of a part of or the whole of this report withou t my prior consent and that of M tito Andei savings and credit co-operative society limited shall therefore be considered illegal and consequently actionable.
NAME: ………………………………………………………. REG. NO………………………
SIGNATURE: ………………… DATE: …………………………
MTITO ANDEI SACCO LIMITED.
INDUSTRIAL SUPPERVISOR………………………………………………
TITLE HELD…………………………………………
S IGNATURE…………………DATE………………………STAMP………………………………..
APPROVAL
I hereby certify that this is an original field attachment report prepared and presented to the department of Co-operatives and Agribusiness Management (DCAM) by Ikuthu William Munyao for the award of a Bachelor’s Degree in Co-operative Business (BCOB ) at T he Co-operative University of Kenya.
APPROVED BY: ………………………………………………
TITLE HELD …………………………………
SIGNATURE…………………… DATE………………………..
DEDICATION
Great inspiration always leads to success in any kind of work done. I would like to dedicate this work to my guardian Cecilia kalani from whom I received great energy to move on with my industrial attachment. I also dedicate this work to my friend s and colleagues at mtito Andei savings and credit society limited whom I worked with. I have been mentored, trained and given all the experience within their reach.
ACKNOWLEGMENT
With deep sense of gratitude I would wish to acknowledge the efforts of the County Director of Co-operatives Esther Kivindyo in finding me a place at mtito Andei Sacco ltd to carry out my field study.Th e entire mtito Andei Sacco ltd Management Committee for their warm welcome and struggle to ensure I had a good stay and experience at the society. Thanks to Mrs . Margaret Wachira and Jostina k athini for their continued support day by day. Thanks to the Sacco staff Catherine and Jennifer whom I worked close with and exposed me to the kind of training I had anticipated f or. Finally, thanks to the Sacco auditor Al pha Waemafor his contribution to this work. It was a great team to work with.
ACRONYMS
- SACCO – Savings and credit Co-operative Society.
- SHG- Self Help Group.
- KUSCCO LTD - Kenya Union of Savings and Credit Co-operatives L imited.
- NACHU- National Housing Co-operatives Union.
- K H C LTD- Kibwezi Housing Co-operative society Limited.
- S MIS – Sacco Management Information System.
- M.G.R-Merry Go Round.
- CIC Group LTD- Co-operative Insurance Company Limited.
- USDA- United States Department of Agriculture.
- CDI- Co-operative Development Institute.
- E.O.R- Extra Ordinary Reports.
T ABLE OF CONTENTS
1.1 Declaration …………………………………………………………… …….. .. 2
1.2 Approval …………………………………………………………………... ......3
1.3 D edic ation ………………………………………………………………... ....... 4
1.4 A cknow ledgement …………………………………………………… ………. 5
1.5 Acronyms ………………………………………………………………… …... 6
1.6 A bstract …………………………………………………………… ……... ....... 9
2.0 CHAPTER ONE ………………………………………………………. . . ...... 10
2.1 I ntrod uction……………………………………………………… ……….... 10
2.1.1 M tito Andei Sac co historical background ………… …………………….. 10
2.1.2 Location………………………………………………………… .. … …… 10
2.1.3 Business .…..................................................................................................11
2.1.4 Management structure an d systems ………………… ………………… …11
3.0 CHAPTER TWO: ACTIVITIES UNDERTAKEN DURING FIELD
ATT ACHMENT………………………………………………... ……………… 12
3.1 B rief methodology…………………………………………………… …..….12
3.1.1 Participation …………………………………… ………..…………………12
3.1.2 S truc tured interviews…………………………………… …………… ……12
3.1.3 Observation and enquiry…………………………………… ……………. ..12
3.2 DESCRIPTION OF ACTIVITIES UNDERTAKEN………… .. ………… 12
3.2.1 M tito Andei Sacco organizational structure and
Management……………………………………………………… ………… 13
3.2.2 The audit and ac counting department……………… ………………….. ….15
3.2.3 Membership and shares……………………………………… …………. …15
3.2.4 Savings ………………………………………………………… …………...17
3.2.5 Loans ………………………………………………………….. ……………17
3.2.6 A gency operations……………………………………… ……….………….18
3.2.7 Data entry, verification and validation…………… ………………………. ..19
3.2.8 Preparation of fin ancial statements and reports… …………………………. 20
3.2.9Welfare………………………………………………………… …...… … …22
4.0 CHAPTE R THREE LESSONS, EXPIRIENCES AND SKILLS… …. …. 23
4.1 lessons………………………………………………………………………. ..23
4.2 experiences………………………………………………………… ……...….25
4.3 Skills…………………………………………………………………………. .25
5.0 CHAPTER FOUR: CHALLENGES, ISSUE ANALYSIS AND
LIMITATIONS…………………………………………………………… ……. .28
6.0 CHAPTER FIVE: CONCLUSION A ND RECOMMENATIONS …… … . 29
7.0 TEXT CITATIONS AND REFERENCES ……………………………….. 31
ABSTRACT
This report is prepared in partial fulfillment of the Bachelor of Co- operative Business Degree which the attaché is studying at The Co-operative University of Kenya and serves to provide an overview of what the student learnt during the attachment period at Mtito Andei Sacco L td for ten weeks training. This report has been prepared using the standard format stipulated by the by the university for the qualification and award of undergraduate Degree at the Co-operative University of Kenya. The sources used in writing this report includes ; observations of how activities are carried out at Mtito Andei Sacco Ltd, participation in such activities , reading through schedules and organizational progress of the society, enquiring and interacting with different people at different levels of the organization ,experience obtained from activities and duties assigned and some research carried out from the internet regarding the Sacco society itself and various texts including ; United States Department of Agriculture (USDA ) -Understanding Co-operative Bookkeeping and Financial Statements , and Co-operative Development Institute (CDI)- international Co-operative principles.
The report gives a discussion about history, nature and scope of the company profile of Mtito Andei Sacco, a complete range of its products andorganizational structure. Discussed in this report also includes the activities and experiences gathered from the internship, challenges, issue analysis and limitations. Finally a conclusion based on issues raised in this report will be drawn and recommendations based on the students evaluation of the organization’s activities.
2.0 CHAPTER ONE
2.1 INTRODUCTION
This chapter begins with an introduction of the society’s background , nature and scope of its business, general set up and structure including management system. It also gives a brief but complete range of the society’s products.
2.1.1 MTITO ANDEI SACCO HISTORICAL BACKGROUND .
Mtito Andei Sacco started off as a self-help group (S.H.G ). Usually a self-help group is a group of people who provide mutual support for each other and share a common problem. The today known Mtito Andei Sacco was thus originally a group of friends from and within mtito Andei town formed back in the year 2002. This mutual aid group was formed by people who realized the need to form a support group to help them financially. This group approached K-rep Bank, the now renamed Sidian Bank who supported them with ideas on saving and borrowing.
The group started meeting at ‘FRIENDS INN’ a hotel based in the town and was thereafter registered under the name ‘’MTITO FRIENDS SELF-HELP GROUP ‘’by the ministry of gender and social services. Membership grew gradually up to the year 2010 when it reached 55 members. The K-rep Bank officials were so supportive, cooperative and encouraging to this particular group which saw them learn savings technique and enlightened their group micro-finance need.
In 2010, the group leadership during an annual general meeting suggested to the membership the need for them to form a savings and credit Co-operatives society which they unanimously agreed upon hence forming mtito Andei Savings and credit society limited.
Mtito Andei Sacco is now a fully-fledged savings and credit co-operative society with its offices based in mtito Andei town. The Sacco is registered under the c-operative society’s act Cap 490 laws of Kenya and has its own by - laws with its area of operation being Mtito Andei division. The SACCO has i ts members divided into five groups; ANSWER, GIRRAFFE, N YATI, OSTRICH, and RHINO groups.it also has the youth group who are children of the registered members introduced by them.
2.1.2 LOCATION
Mtito Andei Sacco limited is located at Mami Lodgea few meters from Genesis Plaza in the lower parts of Mtito Andei town. The Sacco has its postal address as P.O Box 253-901238 and operates in its own owned offices. It has a subsidiary society registered under the name, ‘’KIBWEZI HOUSING SOCIETY LIMITED’’ operating from the same offices and owned by Mtito Andei Sacco members.
2.1.3 BUSINESS
Mtito Andei Sacco limited is an autonomous society owned by its registered members united voluntarily to meet their common economic, socialand cultural needs and aspirations through jointly owned and democratically controlled enterprise. As mentioned earlier the Sac c o has a sister society(a subsidiary) KIBWEZI HOUSING SOCIETY LIMITED. Among the products offered by mtito Andei Sacco to its registered members include;
- Savings and credit facilities for all registered members.
- Providing loan facilities to members.
- Welfare services to members.
- Provision of dividends.
- Funeral cover to its members, their spouses and dependants
KIBWEZI HOUSING CO-OPERATIVE SOCIETY LIMITED on the other hand was formed by the members of Mtito Andei Sacco as a result of the pressing need felt by the members for affordable housing . However, members of Mtito Andei Sacco do not automatically become members of Kibwezi Housing Co-operative society. Kibwezi Housing Co-operative society thus has its own by - laws and membership requirements. Much detailed explanation of both societies will be given in chapter two of this paper.
2.1.4 MANAGEMENT STRUCTURE AND SYSTEMS
This sub-topic gives a brief introduction of the management structure of mtito Andei and its management systems. The Sacco is basically owned and democratically controlled by its members. It has its management committee chaired by a chairman assisted by a vice chair, a secretary and a treasurer. Other committees under the management committee include; the C redit committee, I nsurance and welfare, Real Estate and Discipline, Supervisory, Ethics, Audit and Accounting committees. The management of Mtito Andei Sacco is also the management of Kibwezi Housing Co-operative Society Limited. Both societies maintain its member’s records, accounts and operations under the Audit and Accounting Committee using a Sacco Integrated Management Information System (SIMS).
3.0 CHAPTER TWO: ACTIVITTIES UNDERTAKEN DURING FIELD ATTACHMENT
3.1 Brief methodology.
In order to ensure the success of the filed attachment and this work, the student adopted the following methodology to gather experience while satisfying both academic and organizational standards.
3.1.1 PARTICIPATION.
This included reporting daily at the office and involvement in the daily duties as assigned by thesupervisor. This was used to acquire knowledge on office organization, including; office layout, filing, office cleanliness and documents safety. Participation on daily activities ; recording member savings, writing member passbooks, recording loan repayments and applications, and data entry among other duties helped the student acquire knowledge and experience.
3.1.2 STRUCTURED INTERVIEWS.
Through interaction with the staff at Mtito Andei Sacco, and various management committee members, important information about the Sacco’s activities, services, historical background and organizational structure were obtained.
3.1.3 OBSERVATION AND ENQUIRY.
The contribution of carefully watching and asking for clarifications on day to day activities of the society to this work cannot be underestimated.
3.2 DESCRIPTION OF ACTIVITIES UNDERTAKEN.
The emphasis of this chapter will be on a detailed account of the activities, duties and assignments the attaché was required to carry out during his field training at Mtito Andei Sacco. The student was attached in the Audit and Accounting department in Mtito Andei Sacco. His duties and responsibilities briefly included;
- Ensuring that member’s passbooks are up to date and in correspondence with the information in savings cashbooks and the management information system.
- Recording member’s savings in the savingscashbooks.
- Da i ly recording of loan applications and repayments.
- Agency operations including; KCB BANK, CO-OPERATIVE BANK, and MPESA.
- Data entry into the SIMS
- Reconciliation of savings records.
- Recording of new shares purchases by members.
- Typing, printing scanning and emailing as assigned.
- Office cleaning and organization among other duties.
3.2.1 AN OVERVIEW OF MTITO ANDEI SACCO LTD AND KIBWEZI HOUSING CO-OPERATIVE SOCIETY LTD ORGANIZATIONAL STRUCTURE AND MANAGEMENT.
Before giving a detailed account of activities the student was involved in under Mtito Andei Sacco, it is important, first of all, to give a glimpse of both the management staff of the society and perhaps the organizational structure. The members of the Sacco entrust a general M anagement to run the operations of both societies on their behalf.
Mtito Andei Sacco is affiliated to the Kenya Union of Savings and Credit Co-operatives Limited (KUSCCO LTD) while on the other hand Kibwezi Housing Co-operative Society is affiliated to National Hous ing Co-operatives Union (NACHU).
The diagram below shows the organizational structure;
Fig.1
The Management C ommittee is chaired by a chairman assisted by a secretary and a treasurer. The chair, treasurer and secretary are referred to as executive officers. They deal with general management of the society.
The Credit Committee has the duty of vetting loan applicants and their guarantors and their ability to service their credit requirements. It also maintains records of its loan deliberations to members and forwards i ts loan recommendations to the Management committee for approval .
Ethics Committee deals with the society’s image, corporate social responsibility and anticorruption.
Insurance and welfare Committee deals with insurance of member loans, CIC money market activities and general well-being of members.
The Audit and Accounting Committee deals with bookkeeping and audit of society accounts and operations.
3.2.2 THE AUDIT AND ACCOUNTING COMMITTEE/DEPARTMENT- ATTACHED DEPARTMENT.
The society’s accounting system is a process of recording and reporting the financial results and business transactions of the Sacco. Members, Management Committee, Creditors and Accountants rely on this department for timely and accurate information. The Audit and Accounting Department has its chair, treasurer and a secretary its str ucture has units as shown below;
Fig.2
3.2.3 MEMBERSHIP AND SHARES.
On a typical day the attaché would be required to explain to prospect members the requirements ,qualifications and benefits of joining a savings and credit co-operative society as well as the need for ahousing co-operative society. Other activities regarding membership and shares would includerecording member’s purchases of new shares.
Membership to Mtito Andei Sacco, just like any other savings and credit co-operative society is open and voluntary. Membership requirements include;
- An application letter filled by the prospective member showing member’s information details ,next of kin and contact address.
- Payment of a nonrefundable registration fee of ksh. 4000 .
- The member must be willing to save ksh.500 every Friday.
- One-time payment of ksh. 10,000 for a group funeral cover.
- Must have a minimum of ksh.20, 000 in shares and a maximum of ksh.70, 000 in shares. (one share is worth ksh.500 and shares are freely transferable but non-refundable)
Member benefits include;
- Members can be able to borrow a loan from the Sacco as from ksh. 30,000 up to 1,000,000.
- Members get a general funeral cover of ksh.150,000
- Dividends from Sacco investments.
- Member is able to bond with other members in different spheres of life, for instance, capacity building.
- The Sacco helps members develop their savings culture.
The requirements for membership to Kibwezi housing co-operative society is as follows;
- Payment of a non-refundable fee of ksh.6000.
- The prospect member willing to join Kibwezi Housing co-operative society must be a registered member of Mtito Andei Sacco.
- Upon registration the member is required to pay ksh. 4000 plot payment in order to acquire a plot of land.
- Members must have a minimum of ksh. 40,000 in shares
- Be a constant saver.
- Must be prepared to own a three bedroom house and a 25 by 60 feet plot worth ksh. 3 million.
Members’ benefits include;
- Members will gradually own a house in a gated community land.
- Live in an estate with a borehole and a secured compound.
- Enjoy facilities of estate social welfares like;
- Community social hall .
- Pre-unit and baby class school.
- Children playground.
- 24hrs CCTV- Camera surveillance.
- Street lighting.
3.2.4 SAVINGS.
Members’ savings are one of the major products of Mtito Andei Sacco. The Sacco mobilizes savings from its registered members on a weekly basis i.e.every Friday. The Sacco has its members divided into five groups as introduced earlier. Member’scontributions towards savings are recorded in the cash books wh ere each group has its own cashbook. These entries are then transferred to the general ledger/savings cash book maintained by the Sacco.
Other information recorded in the members ‘cash books include; contributions to housing, plot payments which are consequently transferred into the Sacco M anagement Information S ystem (SIMS)under Kibwezi Housing Co-operative Society Limited.
Information regarding members’ savings is also transferred to members’ passbooks whereby each member owns and maintains their own passbook. Late contributions towards member savings are issued with a receipt showing amount and date of payment.
3.2.5 LOANS.
The Sacco undertakes to provide loans to its members at affordable interest rates . Interest rates on loans advanced to members depend on loan repayment period. The repayment periods are as follows;
Repayment period Interest rate applied.
3 months 5%
6 month 10%
9 months 15%
12 months 20%
All members applying for a loan are required to fill a loan application form with at least two guarantors who are members of the society. Each loan advanced has an insurance fee of 3%. All loanrepayments are recorded in the members’ cashbooks before being transferred into the loans cashbook. Defaulted loans have a grace period of two weeks after which they begin attracting penalties. The management committee from time to time reviews all defaulted loans and may decide to offset defaulted loans against member savings. Members with defaulted loans are thus notified of their savings withdrawal to settle their default loans.
3.2.6 AGENCY OPERATIONS.
The Sacco operates as an agent for Kenya Commercial Bank (KCB), Co-operative Bank ofKenya and MPESA.
KCB AGENCY
Agency activities regarding Kenya Commercial Bank include:
The use of Point of Sale (POS) to;
- Operate account opening for new KCB customers.
- Cash transactions;
- Fees payments .
- Bill payments .
- Cash deposits .
- Card transactions;
- Fees payments .
- Cash withdrawals .
- Funds transfer .
- Bill payments .
- Balance inquiry .
- Mini-statements .
- Agent transactions;
- Balance enquiry .
- Detailed reports .
CO-OPERATIVE BANK AGENCY
All agency activities in regards to Co-operative Bank agency include the following;
- Cash withdrawals .
- Agent deposits –deposits to cards and to bank accounts .
- Cash collections for customers and agents including institutional collections.
- Payments- includes:
Payments for;
- Institutions
- Utility payments
- School fees.
- Funds transfer- card to card and card to account transfers.
- M-cop withdrawals and deposits.
- Balance –balance inquiry and mini-statements.
MPESA AGENCY.
Mpesa transactions involve;
- Cash deposits to MPesa .
- Give cash- used for customers who want to withdraw money from other networks e.g. Airtel money and T-kash.
- Move money – used by agent to move money from working account to float account and vice versa.
- New customer – this service is used to register prospective Safaricom subscribers.
- Buy airtime
- Agent account – used by the agent to access services like; checking float balance, help and support.
3.2.7 DATA ENRTY, VERRIFICATION AND VALIDATION.
Data entry, for purposes of this paper, refers to electronic entry of or update of raw data from cashbooks, shares receipts, and all relevant materials into the Sacco Management Information Systems (SIMS) . This process of entering information included the use of Microsoft word, Microsoft excel and Microsoft access, the main aim of data entry for the society being;
- Ease access of information.
- Provide timely and accurate information to aid decision making.
- Improve productivity.
- Quick access and retrieval of information among others.
The Sacco has an Integrated M anagement Information S ystem which is used for entries of all information ranging from;
- membership -member register
- loans -applications and repayments
- Finance - all receivables i.e. cash and card deposits.
- Reports on;
- Member register
- Member summary statements.
- Sacco summary balances.
- Loan register summary.
Data and information verification involves careful examination of information stored in the SIMS and source documents to see to it that they match.Sometimes the information stored in the systems may differ with that in the general ledger or cashbooks. The purpose of verification is thus to address such discrepancies.
Data and information validation on the other hand supports verification. This process entails to prove or confirmation that the information is true or correct. The whole process of data entry, verification and validation helps and supports decision maki ng of the Management Committee.The process also ensures accuracy and consistency of the society’s information.
3.2.8 PREPARATION OF FINANCIAL STATEMENTS AND REPORTS.
Three commonly prepared financial statements in the Sacco include;
- The income statement
- The balance sheet and;
- Cash flow statements.
These statements are used to report the fin ancial position of the society on both monthly and yearly basis and its ability to meet cash obligations from time to time.
Though each statement may contain different information, the information is interrelated and gives a complete picture of the co-operative society and aids in decision making on future operations.
For purposes of preparing income statements, the Sacco society has its income from such sources as;
- Rent income from investments in real estate.
- CIC money market interest on savings.
- Loan interest, penalties and withdrawal charges.
- Savings withdrawal charges.
- Agency commissions.
- Interest on savings from KUSCCO and NACHUAmong others.
Expenses may include;
- Committee allowances.
- Education expenses.
- Petty cash expenses e.g. postage and communication.
- Plot documentation expenses.
- Salaries and wages among others.
Other reports which may be prepared include; member register, housing reports, member statement balances, member summary balances, housing construction balances, plot payment reports, loan repayment reports, savings and shares schedules and asset registers.
Extra Ordinary Reports (E.O.R) are also prepared when need arises and contains such information like; cessation of membership and deceased members.
3.2.9 WELFARE.
The welfare of a person or a group of people refers to their health, comfort, and happiness.
The members of Mtito Andei Sacco are committed to their welfare and contribute ksh. 200 each member to help finance their welfare .This money is contributed each second week of every month a Friday.
Welfare includes CIC group insurance cover whereby in case of death of a member, they get ksh.150 , 000 contributions from CIC group limited.In case of death of a members’ dependat, CIC insurance group contributes ksh.50 , 000 for thiscourse. From the ksh. 200 contributed by each member on a monthly basis, ksh.100 from each members account is transferred to CIC insurance account while the remaining ksh. 100 goes to Merry Go Round (M.G.R) account. The purpose of Merry Go Round is to finance the members’ welfare from time to time. Every month, ten members get ksh. 1000 each from Merry Go Round.This money helps them pay for either plot payment or construction payment under Kibwezi Housing Co-operative society Limited.
4.0 CHAPTER THREE: LESSONS, EXPRIENCES AND SKILLS.
4.1 LESSONS.
Attachments can be a good place for students to learn and set their minds for future work places.They also provide a good opportunity for those unsure of what path of their career they would like to take or what industries they’d like to work with in the future to make up their minds on such matters. Here are few lessons the attaché learnt from his attachment;
- SELF-MOTIVATION .
It won’t be possible for people to praise you for every little task you undertake, even under their direct supervision. However, this does not mean that you are not performing. Self -motivation is very important in the work place, if you think you are giving your best, your hard work will eventually be recognized. It is as well important to note that people are busy with their work, self-minded and self-centered. This calls for people to approach each task with optimism and push themselves along, otherwise no one else will.
- PANTUALITY.
Time keeping is incredibly important. Failure to keep time always leads to people straggling to meet deadlines, a lot of pressure and frustrations. When one reports to work on time, it gives them peace of mind, a relaxed working environment and boosts enthusiasm.
- NETWORKING AND KEEPING IN TOUCH.
When it comes to networking, everyone has their story. Connecting to people is really important. Maintaining healthy relationships is quite difficult.It is important to keep connections for purposes of job hunt, but it is also more important when such people can reverence you when the need arises.
- PROFESSIONALISM .
This can range from decent dressing; professional courtesy to observing code of ethics in an organization. It has always been said that the first impression matters, and yes, it does. It boosts ones confidence and then confidence in others. The ability to speak to people in a professional way and in a professional setting is a great challenge but quite fun when embraced. It is the real world we stay in, it has to be cultivated in one-self.
- PAYING ATTENTION.
Bosses and supervisors can give too much information or tasks at once. Listening carefully is an art every person needs. It is important to listen first, and then ask for clarifications later. If youjust nod and go back to your desk a waste a lot of time figuring out what they said you should do , it will bring frustrations. The reason people listen is because they want to understand, so it doesn’t hurt to ask for re-explanation.
- INDEPENDENCE.
For people to trust you, you have to prove that you can rely on yourself. When you can’t make decisions on your own, then it follows that people will think that you want to be spoon-fed all the time.
- SELF-ENJOYMENT.
The working world offers people a lot to be proud of and be happy at work. It offers opportunities and a lot of fun every day, it is thus important for one to be willing to work and have fun interacting with others.
4.2 EXPIRIENCES.
This has been the best and exciting part of my program of study. It was an opportunity to work with people and see what the outside working world holds. There’s nothing comparable to real world experience .
- HANDLING CUSTOMERS.
Though attached in the accounting department , I was able deal with customers from the agencyoperations and members of the society at different levels. It was sometimes challenging especially when it was conflict handling. It surely feels a lot of satisfaction when you solve peoples’ problems or help them do the same.
- EXPIRIENCE ON ORGANIZATIONAL ACTIVITIES.
I had the opportunity to experience the organizational structure and operations in the business world. The opportunity to get involved in daily operations of the society gave me overwhelming experience. It was training far off from class work and theory.
- FIELD WORK.
I had a few moments which I was sent to deliver letters and parcels to other organizations. The experience felt good to work away from office.
4.3 SKILLS.
The main aims and expectations were to gain as much skills and cap abilities for careerdevelopment. The following were some of the skills acquired.
- INTERPERSONAL SKILLS.
Throughout the internship, the attaché gained the ability to be able to relate well with others while getting job done. I was able to interact with other staff, the M anagement C ommittee and people from the external environment.
- COMMUNICATION SKILLS.
The ability to be able to listen carefully and give feedback was achieved through; use of communication channels, communicating through sending emails and use of various social media .
- ANALYTICAL SKILLS.
Among the tasks I was assigned, almost all of them needed close and careful collection of information and ability to analyze it. I was able to solve minor and complex issues in the most effective way of myknowledge. This included; records verification, records validation and analyzing different information and data to prepare reports.
- COMPUTER SKILLS.
These skills were achieved through different tasks such as using SIMS, printing and preparing reports, scanning and typing documents.
- SYSTEM SECURITY/ INFORMATION PROTECTION.
This was achieved through;
- Use of passwords, codes on hardware and software to protect data and information.
- Use of system based application control.
- Physical control i.e. locks and key.
- Human resource control (watchmen) .
- ABILITY TO WORK UNDER PRESSURE.
Like in any organizational settings, there were good and bad days, or simply busy days and light work days. Working under such conditions needed great skill.
5.0 CHAPTER FOUR: CHALLENGES, ISSUE ANALYSIS AND LIMITATIONS.
This chapter will give a description of the challenges encountered during the attachment and how they were managed. Challenges could have been personal, work related and organizational but they offered a good opportunity to learn and grow my experience and capabilities. The challenges and limitations included;
5.1 A NEW LIFESTYLE.
The intern had the same feeling that everyone gets when they are introduced to a new environment. The school environment had been a bit relaxed; waking up a bit late and attending a few classes a day , then the working environment, waking up early and reporting to work on time. However the challenge, I was willi ng to change, making every activity adventurous, getting to know people and managing work and personal priorities.
5.2 SU PERVISORS FORGET THAT YOU ARE NEW TO THE FIELD.
Everyone has those moments when the supervisorgives directions that may not make sense at all, with little or no clear guidelines. However, I understood it was my right to ask and get things right. There are also times when the supervisors are not located in the work place, and giving directions that must be adhered to. This demanded getting back to them on details to ensure you are on the same page.
5.3 LITTLE FEEDBACK.
Everyone has this particular challenge. You are regular at work and completing jobs well to create a lasting impression and may be the supervisor could see the potential and capability in you . You might get little or no feedback at all, so you’re not sure if your job is up to the mark, whether to improve or not. There are also those moments when constructive criticism becomes encouraging.
I came to learn that adapting to new work environment requires patience and willingness to learn. With time I was able to adapt and enjoy the kind of work daily. The most important thing was focusing on learning and increasing my capabilities.
6.0 CHAPTER FIVE: CONCLUSION AND RECOMMENDATIONS.
This section presents the recommendations to t he organization and gives a conclu sion of the entire report.
6.1 CONCLUSION.
In conclusion, the student learnt a lot from the field attachment. He was able to apply theoretical knowledge acquired from class work into practice through the activities and duties assigned both i n office and out in the field. The intern improvedand acquired skills like; interpersonal skills, communication skills, analytical skills, and computer skills. The most important experiencesacquired included; handling customers, experience on field work, and the general set up of an organization. In addition, lessons learnt includes; punctuality, self- motivation, networking, professionalism, paying attention, independence and self-enjoyment.
The attachment was fun, educative, and also challenging. The attaché thus wishes to encourage the organization to continue giving such opportunities to other interns. This will benefit theattachés looking for organizational experience andmore benefits will accrue to the organization in the long –run.
6.2 RECOMMENDATIONS.
Diversify membership.
The Kenyan’s saving s and credit Co-operative(SACCO) sector is the largest in Africa. It accounts for 62% of the continents’ savings, 65% loans and 63% assets according to a recent study report by the World Bank. The fact that the financial sector grows competitive everyday renders ‘’common bond ‘’ restriction to membership old –fashioned. Large membership broadens share capital and strengthens Sacco’s ability to meet members ’demand for credit facilities and economic growth. The Sacco should register a website where members can access services and information online and broaden its membership restriction to county level. With well-established marketing strategies, it can be achieved.
Abolish guarantorship.
This may not make sense. Though guarantorship is meant to safeguard Sacco’s money against non-performing loans, and enables the Sacco recover such loans from guarantors, most of the times these rules remain on the loan forms. This could be because the guarantors are members of the Sacco among other reasons. We cannot underestimate the impact they have on members’ financial confidentiality. Additionally we cannot ignore the fact that Banks and other financial loan providers e.g. Tala (formerly mkopo rahisi) are offering quick access to loans. The competition is intense , and apotential loanee could prefer high-priced loans which meet their needs faster and guarantee financial confidentiality. The Sacco should considerget ting strict on loan collaterals against loans advanced to members, advancing loans equal to member’ savings and providing for bad and doubtful debts among other strategies to secureSacco ’s money against defaulters.
Avail m ore opportunities .
The Sacco should give the members more reasons to feel the sense of belonging and prospective members a reason to join the Sacco if it wants to remain competitive. Future considerations in this regard could be ;
- Introducing salary advance to working members recoverable from preceding monthly salary through a check-off system.
- Introducing emergency deposits acc ounts to mobilize members to sav e for the unseen future instead of opting for loans since most of the times the members’ savings are held up in projects and loans processing takes some time.
- Giving back to the society - Facilitate member and community education on economic and entrepreneurship issues considering the f act that most of the members rely on business practices .
7.0 TEXT CITATIONS AND REFERENCES.
- Mtito Andei Sacco Magazine, volume 1 .
- Mtito Andei Sacco by-laws.
- KUSCCO Ltd, annual accounts and financialstatements .
- Kibwezi Housing Co-operative society Ltd by-laws.
- CIC insurance Group Ltd, manual .
- United States Department of Agriculture (USDA),understanding Co - operative Bookkeeping andFinancial Statements .
- Co-operative Development Institute (CDI),International Co - operative Principles .
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