CHAIRMAN’S REPORT TO THE ANNUAL GENERAL MEETING
HELD ON 29TH APRIL 2017 AT DAYSTAR UNIVERSITY
Our guest of honour, Westlands Sub-County Co-operative Officer Mr. Musa Karani, honourable members, ladies and gentlemen, good morning. It is my pleasure to welcome you all to our Annual General Meeting where we shall be tabling our 2016 reports. Before I proceed, allow me to introduce to you Biblia Sacco Board members, Supervisory Committee members and staff.
In the year 2016, the Sacco operated under a very challenging external and internal environment characterized with security threats, extended drought, ever-changing consumer patterns and behavior, stiff competition from other financial institutions, technological challenges, just to name a few. This impacted heavily on the performance of the Sacco in the year under review compared to the previous year as we shall see in the financial reports to be presented hereafter.
We encountered serious technological challenges in the implementation process of the Microsoft Navision Information Management System that we had acquired from Attain Enterprise Solutions. The vendor was unable to fully customize and implement the system as expected. I know that this caused serious concerns with the membership because we could not provide statements in time as required. In October 2016, we resorted to turn back to the old Easy Sacco system and QuickBooks from which we have been able to generate the 2016 Accounts and Statements, courtesy of the staff who worked very hard outside the working hours.
The Board reached a decision to terminate the Agreement with Attain. We are in the process of seeking legal redress to recover the implementation fees paid to Attain as we endeavor to source for another system that will serve our members’ needs.Download Full Report