DOCSLIB.ORG

To Be the Media of Africa for Africa 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
To Be the Media of Africa for Africa 2015 ANNUAL REPORT & FINANCIAL STATEMENTS 2015 & FINANCIAL STATEMENTS ANNUAL REPORT OUR ANNUAL REPORT AND FINANCIAL STATEMENTS VISION To be the Media of Africa for Africa 2015 http://www.nationmedia.com The Nation Media Group is the largest independent media house in East and Central Africa with operations in print, broadcast and digital media, which attract and serve unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda. Copyright © 2016 Nation Media Group Limited All rights reserved. No part of this publication may be reproduced, stored in a retrivial system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the copyright holder. Head Office P.O. Box 49010 Tel. +254 20 3288000 Nation Centre 00100, GPO +254 20 221101 Kimathi Street Nairobi, Kenya www.nationmedia.com Browse, download or print our annual report at View our 2015 results presentation at http://www.nationmedia.com/2015 annualreport.pdf http://www.nationmedia.com/docs/2015_Results_Investor_Briefing.pdf Our Brands Commissioning of the Printing Press by His Highness the Aga Khan on March 17th, 2016, in the presence of Cabinet Secretary of ICT Mr. Joe Mucheru, Governor of Machakos County, Dr. Alfred Mutua, Chairman Dr. Kiboro and GCEO, Joe Muganda. NATION MEDIA GROUP ANNUAL REPORT & FINANCIAL STATEMENTS 2015 3 Content Highlights Business Review Notice of Annual Corporate Social PG 05 General Meeting PG 24 Responsibility IIani ya Mkutano Mkuu wa Mwaka PG 06 Human Resources PG 30 Corporate Board of PG 08 Governance PG 34 Directors Chairman’s Halmashauri ya Statement PG 10 Wakurugenzi PG 34 Taarifa ya Board of PG 14 Mwenyekiti PG 38 Directors’ Profiles Group Chief Directors’ Report Executive PG 18 PG 42 Officer’s Report Ripoti ya Ripoti ya PG 43 Wakurugenzi PG 21 Afisa Mkuu Executive Team PG 44 Statement of Directors’ PG 46 Responsibilities Financial Statements Report of the Independent PG 47 Auditor Financial Statements PG 48 Notes to Financial PG 54 Statements Five Year Financial Summary PG 85 Principal Shareholders and Distribution of PG 86 Shareholding 31 December 2015 Proxy Form PG 87 PG 88 Fomu ya Uwakilishi NATION MEDIA GROUP 4 ANNUAL REPORT & FINANCIAL STATEMENTS 2015 Notice of Annual General Meeting Notice is hereby given that the Fifty- Third Annual General Meeting of the Shareholders of Nation Media Group Limited will be held in the Amphitheatre at the Kenyatta International Convention Centre, Nairobi on Friday 24 June 2016 at 2.00 p.m. for the following purposes: Ordinary Business (4) Ms. N. Karago retires and does not offer herself for re-election. 1. To receive the financial statements for the year ended 31st December 2015, and the chairman’s, Special Business directors’ and auditors’ reports thereon. To consider and, if thought fit, to pass the following 2. To confirm the payment of the interim dividend resolutions as Special Resolutions. of Shs.2.50 per share (100%) and to approve the payment of the final dividend of Shs.7.50 per 5. “That Dr. W. Kiboro, a director who retires in share (300%) on the ordinary share capital in accordance with Article 101 of the Company’s respect of the year ended 31 December 2015. Articles of Association and who is over the age of 70 years, shall notwithstanding that fact, be 3. To confirm that PricewaterhouseCoopers continue re-elected as a director of the Company for a in office as the Company’s Auditors in accordance period of one year.” with Section 723(b) of the Companies Act [2015] Laws of Kenya and to authorize the directors to fix 6. “That Prof. L. Huebner, a director who retires in their remuneration. accordance with Article 101 of the Company’s Articles of Association and who is over the age 4. To elect and re-elect the following directors: of 70 years, shall not withstanding that fact, be re-elected as a director of the Company for a (1) In accordance with Article 96 of the Company’s period of one year.” Articles of Association, Mr. J. Muganda, a director appointed on 1st July 2015, retires and being 7. “That Mr. G. Wilkinson, a director who retires in eligible offers himself for election. accordance with Article 101 of the Company’s Articles of Association and who is over the age (2) In accordance with Article 110 of the Company’s of 70 years, shall not withstanding that fact, be Articles of Association, Mr. D.Aluanga, re-elected as a director of the Company for a Dr. S. Kagugube and Mr. S. Gitagama, retire by period of one year.” rotation and being eligible, offer themselves for re-election. By order of the Board (3) In accordance with the provisions of Section J C Kinyua 760 of the Companies Act 2015, the following Secretary Directors being members of the Board Finance and Audit Committee be elected to continue to 18 March 2016 serve as members of the said Committee: i. Mr. Dennis Aluanga Note: ii. Mr. Anwar Poonwala A member entitled to attend and vote may appoint a iii. Dr. Simon Kagugube proxy to attend and vote on his behalf. Such proxy iv. Mr. Leonard Mususa need not be a member of the Company. To be valid, proxy forms must be deposited at the Company’s registered office not less than 48 hours before the appointed time of the meeting. NATION MEDIA GROUP ANNUAL REPORT & FINANCIAL STATEMENTS 2015 5 Illani Ya Mkutano Mkuu Wa Mwaka Ilani inatolewa hapa kwamba Mkutano wa Hamsini na Tatu wa kila mwaka kwa Wenyehisa wa Nation Media Group Limited utafanywa katika Ampitheatre ndani ya Jumba la Mikutano ya Kimataifa la KICC, Nairobi namo Ijumaa, Juni 24 saa nane mchana kwa ajenda zifuatazo: Shughuli za Kawaida (4) Bi. N. Karago anastaafu na hajajitokeza kutaka 1. Kupokea taarifa kuhusu fedha za mwaka kuchaguliwa tena. uliomalizika Disemba 31, 2015, na baadaye ripoti za mwenyekiti, wakurugenzi na mkaguzi Shughuli Maalum wa fedha. Kuzingatia na, ikionekana yafaa, wenyehisa 2. Kuthibitisha kulipwa kwa mgao wa muda wa wapitishe maazimio yafuatayo kama Maazimio Shs.2.50 kwa kila hisa (100%) na kuidhinisha Maalum. kulipwa kwa mgao wa mwisho wa Shs 7.50 kwa kila hisa (300%) kwa hisa za kawaida za mtaji 5. “Kwamba Dkt. W. Kiboro, ambaye ni mkurugenzi katika mwaka uliokamilika Disemba 31, 2015. anayestaafu kwa mujibu wa Kifungu cha 101 cha Uundaji Kampuni, na aliye na umri wa zaidi 3. Kuthibitisha kwamba kampuni ya ya miaka 70, bila kuzingatia hayo, achaguliwe PricewaterhouseCoopers itaendelea kuhudumu tena kama Mkurugenzi wa Kampuni kwa kipindi www.monitor.co.ug kama mkaguzi wa mahesabu ya fedha ya cha mwaka mmoja.” www.thecitizen.co.tz www.mwananchi.co.tz Kampuni kwa mujibu wa Sehemu ya 723(b) www.ntv.co.ke ya Companies Act [2015] Sheria za Kenya 6. “Kwamba Prof. L. Huebner, ambaye ni na kuwaidhisha Wakurugenzi kuwatengea mkurugenzi anayestaafu kwa mujibu wa Kifungu malipo yao. cha 101 cha Uundaji Kampuni, na aliye na umri wa zaidi ya miaka 70, bila kuzingatia hayo, 4. Kuchagua na kuwachagua tena wakurugenzi achaguliwe tena kama Mkurugenzi wa Kampuni wafuatao: kwa kipindi cha mwaka mmoja.” (1) Kwa mujibu wa kifungu cha 96 cha Uundaji 7. “Kwamba Bw. G. Wilkinson, ambaye ni Kampuni, Bw. J. Muganda, ambaye ni mkurugenzi mkurugenzi anayestaafu kwa mujibu wa Kifungu aliyeteuliwa Julai 1, 2015, anastaafu na kwa cha 101 cha Uundaji Kampuni, na aliye na kuwa anaruhusiwa kuwania tena, anajitokeza umri wa zaidi ya miaka 70, bila kuzingatia hayo, kutaka achaguliwe. achaguliwe tena kama Mkurugenzi wa Kampuni kwa kipindi cha mwaka mmoja.” (2) Kwa mujibu wa kifungu cha 110 cha Uundaji Kampuni, Bw. D.Aluanga, Dkt. S. Kagugube na Kwa amri la Bodi Bw. S. Gitagama, wanastaafu kwa mzunguko na J C Kinyua kwa vile wanaruhusiwa kuwania tena, wanajitokeza Katibu kutaka wachaguliwe. 18 Machi 2016 (3) Kwa mujibu wa kanuni za Sehemu ya 760 ya Sheria ya Kampuni (Companies Act 2015), Wakurugenzi Tambua: wafuatao, wakiwa wanachama wa Bodi ya Fedha Mwanachama anayeruhusiwa kuhudhuria na kupiga na Kamati ya Ukaguzi, wachaguliwe kuendelea kura anaweza kumteua mtu wa kumwakilisha na kuhudumu kama wanachama wa kamati hiyo. kupiga kura kwa niaba yake. Mwakilishi huyo si i. Bw. Dennis Aluanga lazima awe mwanachama wa Kampuni. Hata hivyo, ii. Bw. Anwar Poonwala ili kutambuliwa, ni sharti mwakilishi huyo ajaze fomu iii. Dkt. Simon Kagugube na kuziwasilisha kwenye Ofisi zinazotambuliwa za iv. Bw. Leonard Mususa Kampuni saa 48 kabla ya muda wa mkutano. NATION MEDIA GROUP 6 ANNUAL REPORT & FINANCIAL STATEMENTS 2015 www.monitor.co.ug www.thecitizen.co.tz www.mwananchi.co.tz www.ntv.co.ke NATION MEDIA GROUP ANNUAL REPORT & FINANCIAL STATEMENTS 2015 7 Corporate Governance The Company is committed to upholding the best international standards of good corporate governance. The role of the Board is to determine the Company’s Dr. Y. Jetha, Mr. R. Dowden, Mr. J. Muganda, policies and strategies, to monitor the attainment Mr. S. Gitagama, Ms. N. Karago and Mr. J. of the business objectives and to ensure that the Montgomery as members. Company meets its obligations to the shareholders. The directors are also responsible for overseeing the 4. Editorial Committee, which considers Group’s internal control systems. These controls are and advises on the Group’s editorial policy, designed both to safeguard the Group’s assets and the journalistic code of ethics and addresses to ensure the reliability of the financial information legal responsibilities and which meets quarterly used within the business. in each year or as often as necessary. Read Mr. F. O. Okello chairs the committee which The Board has the following standing Board has Mr. D. Aluanga, Prof. O. Mugenda, Committees: Mr. R. Dowden, Mr. J. Muganda and Mr. T. Mshindi as members.
Load more

Recommended publications
  • “Watchdogging” Versus Adversarial Journalism by State-Owned Media: the Nigerian and Cameroonian Experience Endong Floribert Patrick C
    International Journal of English, Literature and Social Science (IJELS) Vol-2, Issue-2, Mar-Apr- 2017 ISSN: 2456-7620 “Watchdogging” Versus Adversarial Journalism by State-Owned Media: The Nigerian and Cameroonian Experience Endong Floribert Patrick C. Department of Theatre and Media Studies, University of Calabar, Calabar, Nigeria Abstract— The private and the opposition-controlled environment where totalitarianism, dictatorship and other media have most often been taxed by Black African forms of unjust socio-political strictures reign. They are governments with being adepts of adversarial journalism. not to be intimidated or cowed by any aggressive force, to This accusation has been predicated on the observation kill stories of political actions which are inimical to public that the private media have, these last decades, tended to interest. They are rather expected to sensitize and educate dogmatically interpret their watchdog role as being an masses on sensitive socio-political issues thereby igniting enemy of government. Their adversarial inclination has the public and making it sufficiently equipped to make made them to “intuitively” suspect government and to solid developmental decisions. They are equally to play view government policies as schemes that are hardly – the role of an activist and strongly campaign for reforms nay never – designed in good faith. Based on empirical that will bring about positive socio-political revolutions in understandings, observations and secondary sources, this the society. Still as watchdogs and sentinels, the media paper argues that the same accusation may be made are expected to practice journalism in a mode that will against most Black African governments which have promote positive values and defend the interest of the overly converted the state-owned media to their public totality of social denominations co-existing in the country relation tools and as well as an arsenal to lambaste their in which they operate.
    [Show full text]
  • Request to Deliver Last Updated 1/12/16 UNIVERSITY of NORTH
    Request to Deliver Last updated 1/12/16 UNIVERSITY OF NORTH CAROLINA REQUEST TO PLAN A NEW DEGREE PROGRAM – ANY DELIVERY METHOD THE PURPOSE OF ACADEMIC PROGRAM PLANNING: Planning a new academic degree program provides an opportunity for an institution to make the case for need and demand and for its ability to offer a quality program. The notification and planning activity described below do not guarantee that authorization to establish will be granted. Date: February 24, 2018 Constituent Institution: University of North Carolina at Chapel Hill Is the proposed program a joint degree program? Yes No X Joint Partner campus Title of Authorized Program: M.A. and Ph.D. degrees in Global Africana Studies Degree Abbreviation: M.A., Ph.D. CIP Code (6-digit): Level: B M I D CIP Code Title: Does the program require one or more UNC Teacher Licensure Specialty Area Code? Yes No _ X If yes, list suggested UNC Specialty Area Code(s) here __________________________ If master’s, is it a terminal master’s (i.e. not solely awarded en route to Ph.D.)? Yes ___ No__X_ Proposed term to enroll first students in degree program: Term Fall Year 2020 Provide a brief statement from the university SACSCOC liaison regarding whether the new program is or is not a substantive change. Identify the objective of this request (select one or more of the following) ☒ Launch new program on campus ☐ Launch new program online; Maximum percent offered online ___________ ☐ Program will be listed in UNC Online ☐ One or more online courses in the program will be listed in UNC Online ☐ Launch new site-based program (list new sites below; add lines as needed) ☐ Instructor present (off-campus delivery) ☐ Instructor remote (site-based distance education) Site #1 Page 1 of 31 Request to Deliver Last updated 1/12/16 (address, city, county, state) (max.
    [Show full text]
  • AFRICAN PERSPECTIVES 2013: the Lagos Dialogues “All Roads Lead to Lagos”
    AFRICAN PERSPECTIVES 2013: The Lagos Dialogues “All Roads Lead to Lagos” ABOUT AFRICAN PERSPECTIVES A SERIES OF BIANNUAL EVENTS African Perspectives is a series of conferences on Urbanism and Architecture in Africa, initiated by the Kwame Nkrumah University of Science and Technology (Kumasi, Ghana), University of Pretoria (South Africa), Ecole Supérieure d’Architecture de Casablanca (Morocco), Ecole Africaine des Métiers de l’Architecture et de l’Urbanisme (Lomé, Togo), ARDHI University (Dar es Salaam, Tanzania), Delft University of Technology (Netherlands) and ArchiAfrika during African Perspectives Delft on 8 December 2007. The objectives of the African Perspectives conferences are: -To bring together major stakeholders to map out a common agenda for African Architecture and create a forum for its sustainable development -To provide the opportunity for African experts in Architecture to share locally developed knowledge and expertise with each other and the broader international community -To establish a network of African experts on sustainable building and built environments for future cooperation on research and development initiatives on the continent PAST CONFERENCES INCLUDE: Casablanca, Morocco: African Perspectives 2011 Pretoria/Tshwane, South Africa: African Perspectives 2009 – The African City CENTRE: (re)sourced Delft, The Netherlands: African Perspectives 2007 - Dialogues on Urbanism and Architecture Kumasi, Ghana June 2007 - African Architecture Today Dar es Salaam, Tanzania: June 2005 - Modern Architecture in East Africa around independence 4. CONFERENCE BRIEF The Lagos Dialogues 2013 will take place at the Golden Tulip Hotel Lagos, from 5th – 8th December 2013. We invite you to attend this ground breaking international conference and dialogue on buildings, culture, and the built environment in Africa.
    [Show full text]
  • Annual Report 2014 CENTENARY RURAL DEVELOPMENT BANK LTD
    CENTENARY RURAL DEVELOPMENT BANK LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 CENTENARY RURAL DEVELOPMENT BANK LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 2 Centenary Bank Annual Report 2014 CENTENARY RURAL DEVELOPMENT BANK LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 We aim to provide appropriate financial services especially microfinance to all the people of Uganda particularly in rural areas. We are therefore at the forefront of increasing financial inclusion and reaching out to the unbanked population. Read our Chaiman’s Statement on page 8 Centenary Bank 3 Annual Report 2014 CENTENARY RURAL DEVELOPMENT BANK LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 TABLE OF CONTENTS List of Acronyms 5 Vision, Mission and Ownership 6 Chairman’s Statement 8 Board of Directors 10 Managing Director’s Review 11 The Executive Management 13 Corporate Governance 14 Operational and financial review 23 Directors’ Report 30 Directors’ Responsibility For Financial Reporting 31 Report of Independent Auditors 32 Financial Statements 33 Statement of Comprehensive Income 33 Statement of Financial Position 34 Statement of Changes In Equity 35 Statement of Cash Flows 35 Notes To The Financial Statements 36 Sustainability Report 81 Bank Contact Information 98 4 Centenary Bank Annual Report 2014 CENTENARY RURAL DEVELOPMENT BANK LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 LIST OF ACRONYMS ABI aBi Finance Ltd ACF Agricultural Credit Facility ALCO Asset and Liability Committee ATM Automated
    [Show full text]
  • Nziokim.Pdf (3.811Mb)
    Differenciating dysfunction: Domestic agency, entanglement and mediatised petitions for Africa’s own solutions Mutinda (Sam) Nzioki 2018 Differenciating dysfunction: Domestic agency, entanglement and mediatised petitions for Africa’s own solutions By Mutinda (Sam) Nzioki Submitted in fulfilment of the requirements for the degree of Ph.D. Africa Studies in the Faculty of the Humanities at the University of the Free State July 2018 Supervisor: Prof. André Keet Co-supervisor: Dr. Inge Konik Declaration I, Mutinda (Sam) Nzioki [UFS student number 2015107697], hereby declare that ‘Differenciating dysfunction’: Domestic agency, entanglement and mediatised petitions for Africa’s own solutions is my own work, and has not previously been submitted for assessment to another University or for another qualification. Further, all the sources that I have used and/or quoted within this work have been clearly indicated and acknowledged by complete references. July 2018 Mutinda (Sam) Nzioki _________________________ Table of contents Acknowledgments i Abstract ii Introduction 1 Repurposing and creative re-opening 5 Overview of chapters 10 Chapter 1: Key Concepts and Questions 14 Becoming different: Africa Rising and de-Westernisation 20 Laying out the process: Problems, questions and objectives 26 Thinking apparatus of the enemy: The burden of Nyamnjoh’s co-theorisation 34 Conceptual framework and technique of analysis 38 Cryonics of African ideas? 42 Media function of inventing: Overview of rationale for re-opening space 44 Concluding reflections on
    [Show full text]
  • Annual Report 2015
    1 ANNUAL REPORT 2015 Annual Report & Financial Statements l 2015 2 Annual Report & Financial Statements l 2015 3 TABLE OF CONTENTS LIST OF ACRONYMS 4 FINANCIAL DEFINITIONS 5 BANK CONTACT INFORMATION 6 CHAIRMAN BOARD OF DIRECTORS’ STATEMENT 11 MANAGING DIRECTOR’S STATEMENT 14 STATEMENT OF CORPORATE GOVERNANCE AND RISK MANAGEMENT 18 SUSTAINABILITY REPORTING STATEMENT 33 FINANCIAL REVIEW 47 AUDITED FINANCIAL STATEMENTS Directors’ Report 54 Directors’ Responsibility for Financial Reporting 56 Report of Independent Auditors 57 Statement of Comprehensive income 59 Statement of Financial Position 60 Statement of changes in equity 61 Statement of Cash flow 62 Notes to the Financial Statements 63 BANK AND ATM NETWORK 117 Annual Report & Financial Statements l 2015 4 LIST OF ACRONYMS aBi Agriculture Business Initiative Finance Limited aBi Trust Agriculture Business Initiative Trust ACF Agricultural Credit Facility ALCO Asset and Liability Committee ATM Automated Teller Machines BCP Business Continuity Plan BCM Business Continuity Management BCMT Business Continuity Management Team BOD Board of Directors BOU Bank of Uganda CBS Core Banking System EaR Earnings at Risk EIB EAC MF Loan European Investment Bank East African Community Microfinance Loan EIB PEFF European Investment Bank Private Enterprise Finance Facility ERM Enterprise Risk Management FAMOS Female and Male Operated Small enterprises HR Human Resource HRD Human Resource Division IAS International Accounting Standards ICT Information and Communication Technology IFRS International Financial
    [Show full text]
  • Media of for Africa
    2019 Annual Report & Financial Statements Media of for Africa www.nationmedia.com Media of for Africa 2019 Annual Report & Financial Statements Maasai community Found in the Eastern part of Africa, the Maasai people represent the deep culture we have as a continent. They are a symbol of Africa’s cultural identity and the need to preserve it in the face of pressure from modernisation. Nation Media Group is the leading media company with businesses in print, broadcasting and digital. NMG uses its industry leading operating scale and brands to create, package and deliver high- quality content on a multi-platform basis. As the largest independent media house in East and Central Africa, we attract and serve unparalleled audiences in Kenya, Uganda, Tanzania, and Rwanda. We are committed to generating and creating content that will inform, educate and entertain our consumers across the different platforms, keeping in mind the changing needs and trends in the industry. In our journey, nothing matters more than the integrity, transparency, and balance in journalism that we have publicly committed ourselves to. NMG journalism seeks to positively transform the society it serves, by influencing social, economic and political progress. M Copyright © 2020 Nation Media Group ed ia All rights reserved. No part of this publication may be reproduced, o f stored in a retrieval system or transmitted in any form or by any A means, electronic, mechanical, photocopying, recording or otherwise, f r without the permission of the copyright holder. i 4 c a f o r A f r i c a Nation Centre, Telephone: Kimathi Street +254 20 328 8000 P.O.
    [Show full text]
  • Annual Report and Financial Statements
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2015 OUR VISION To be the Media of Africa for Africa To create value for our stakeholders and to positively influence society by providing media that informs, OUR educates and entertains. MISSION. We show pride, enthusiasm and dedication in everything that we do. We are committed to selling and delivering high quality products and services. HE T FUTURE The Nation Media Group is the largest independent media house in East and Central Africa with operations in print, broadcast and digital media, which attract and serve unparalleled audiences in Kenya, Uganda, Tanzania and Rwanda. Copyright © 2016 Nation Media Group Limited All rights reserved. No part of this publication may be reproduced, stored in a retrivial system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the copyright holder. Head Office P.O. Box 49010 Tel. +254 20 3288000 Nation Centre 00100, GPO +254 20 221101 Kimathi Street Nairobi, Kenya www.nationmedia.com Browse, download or print our annual report at View our 2015 results presentation at http://www.nationmedia.com/2015 annualreport.pdf http://www.nationmedia.com/docs/2015_Results_Investor_Briefing.pdf Our Brands Commissioning of the Printing Press by His Highness the Aga Khan on March 17th, 2016 in the presence of Cabinet Secretary of ICT Mr. Joe Mucheru, Governor of Machakos County, Dr. Alfred Mutua, Chairman Dr. Kiboro and GCEO, Joe Muganda. NATION MEDIA GROUP ANNUAL REPORT & FINANCIAL STATEMENTS
    [Show full text]
  • Microfinance on the Cutting Edge
    MICROFINANCE NETWORK MICROFINANCE ON THE CUTTING EDGE Summary of the MicroFinance Network Conference on “Microfinance on the Cutting Edge” Convened in Arusha, Tanzania November 8-10, 2004 Edited by Kelly Hattel 2005 MicroFinance Network The MicroFinance Network is a global association of leading microfinance practitioners committed to improving the quality of lives of the poor through the provision of credit, savings, and other financial services. Members of the Network, whether they are NGOs or commercial banks, share the common belief that this sector of the population is best served by sustainable and profitable institutions. The members of the MicroFinance Network believe in using a commercial approach to establish and develop sustainable financial institutions that reach a large number of clients who are excluded from traditional financial institutions. The MicroFinance Network facilitates information flow between microfinance organizations and practitioners, technical exchanges and publication of best practice materials. It also challenges member practitioners to new levels of excellence and, where regulatory frameworks exist, to become regulated financial institutions. Number of Members : 29 microfinance institutions, 1 second-tier institution and 3 non-practitioner members Total Loan Portfolio : $2.8 billion* Total Number Borrowers : 9.9 million Total Number of Deposits** : $3.7 billion Total Number of Depositors**: 37.4 million Steering Committee Maria Otero, ACCION International, Chair; Carlos Labarthe, Compartamos; James Obama,
    [Show full text]
  • Annual Report 2016
    TABLE OF CONTENTS LIST OF ACRONYMS 4 FINANCIAL DEFINITIONS 5 BANK CONTACT INFORMATION 6 CHAIRMAN BOARD OF DIRECTORS’ STATEMENT 11 MANAGING DIRECTOR’S STATEMENT 14 STATEMENT OF CORPORATE GOVERNANCE 18 RISK MANAGEMENT AND CONTROL 28 SUSTAINABILITY REPORTING STATEMENT 34 FINANCIAL REVIEW 49 AUDITED FINANCIAL STATEMENTS Directors’ Report 56 Directors’ Responsibility for Financial Reporting 58 Report of Independent Auditors 59 Statement of Comprehensive Income 61 Statement of Financial Position 62 Statement of Changes in Equity 63 Statement of Cash flow 64 Notes to the Financial Statements 65 BANK AND ATM NETWORK 127 CENTENARY BANK l Annual Report & Financial Statements 2016 3 LIST OF ACRONYMS aBi Finance Agriculture Business Initiative Finance Limited aBi Trust Agriculture Business Initiative Trust ACF Agricultural Credit Facility AGM Annual General Meeting ALCO Asset and Liability Committee ATM Automated Teller Machines BCP Business Continuity Plan BCM Business Continuity Management BCMT Business Continuity Management Team BOD Board of Directors BOU Bank of Uganda CBS Core Banking System CSI Corporate Social Investment CSR Corporate Social Responsibility EaR Earnings at Risk EIB EAC MF Loan European Investment Bank East African Community Microfinance Loan EIB PEFF European Investment Bank Private Enterprise Finance Facility EIR Effective Interest Rate ERM Enterprise Risk Management FAMOS Female and Male Operated Small enterprises HR Human Resource HRD Human Resource Division IAS International Accounting Standards ICT Information and Communication
    [Show full text]
  • Annual Report 2012
    Centenary Bank Annual Report 2012 ANNUAL REPORT 2012 1 CENTENARY BANK WAS VOTED AS THE BEST BANK IN THE TOP FIFTY BRANDS IN UGANDA BY THE PUBLIC 2012 ANNUAL REPORT & FINANCIAL STATEMENTS Centenary Bank Annual Report 2012 CONTENTS VISION, MISSION, STRATEGY AND OWNERSHIP 5 BOARD OF DIRECTORS 8 CORPORATE GOVERNANCE 12 PERFORMANCE AGAINST FINANCIAL OBJECTIVES 19 FINANCIAL HIGHLIGHTS 20 OPERATIONAL AND FINANCIAL REVIEW 21 DIRECTORS` REPORT 30 DIRECTORS` RESPONSIBILITY FOR FINANCIAL REPORTING 32 CHAIRMAN`S STATEMENT 33 REPORT OF INDEPENDENT AUDITORS 35 FINANCIAL STATEMENTS 37 SUSTAINABILITY REPORT 100 BANK CONTACT INFORMATION 122 EXECUTIVE MANAGEMENT 123 BRANCH NETWORK 125 4 Centenary Bank Annual Report 2012 1. VISION, MISSION AND STRATEGY Our Vision: “To be the best provider of Financial Services, especially Microfinance in Uganda.” Our Mission Statement: “To provide appropriate financial services especially microfinance to all people in Uganda, particularly in rural areas, in a sustainable manner and in accordance with the law.” Our Values • Superior customer service • Integrity • Teamwork • Professionalism • Leadership • Excellence • Competence 5 Centenary Bank Annual Report 2012 Strategy Centenary Bank has continued its growth in terms of profitability and total assets. This has been realized through its continued focus on provision of microfinance. The provision of Micro finance has been and will remain the focus of Centenary Bank. However, to reduce business risks, the Bank has diversified her activities to include lending to small and medium enterprises and large corporations to reach the middle and higher-end markets in order to pro- vide services to sectors that are complimentary to its target market and customers. The Bank put in place the infrastructure to promote efficiency and improve customer service.
    [Show full text]
  • Nation-Media-Group-Annual-Report
    Kiot c The Nation Media Group, the Largest independent media house in East and Central. Africa with operations in print, broadcast and digital, media, attracts and serves unparaLLeLed audiences in Kenya, Uganda, Tanzania and Rwanda PubLished in 2013 Copyrights © 2013 Nation Media Group Limited ALL rights reserved. No part of this publication may be reproduced, stored in a retriviaL system or transmitted in any form or by any means, electronic, mechanicaL, photocopying, recording or otherwise, without the permission of the copyright hoLder. ^ Nation Media Group Media of Africa for Africa P.O. Box 49010 TeL.+254 20 3288000 [email protected] Nation Centre 00100, GPO CeLL Phone. +254 719 038000, +254 732138000 www.nationmedia.co.ke Kimathi Street Nairobi, Kenya Browse, downLoad or print our annuaL report at View our 2012 resuLls presenlalion al http://www.naCionmedia.com/docs/NMG_AnnuaL_ReporLand_FinanciaL_SCaCemenCs_2012.pdf http://www. nation media.com/docs/2012-Resu LCs-lnvesCor-Briefing.pdf DAILYTNATION BUSINESS DAILY my life my music NATIONHELA TkptMfukonil IheliastAfrican niDNITDR The East African O Our Vision To be the Media of Africa for Africa. Our Mission To create value for our stakeholders and positively influence society by providing media that informs, educates and entertains. Contents Highlights Pg 1 Notice of Annual. General. Meeting Pg 9 Taarifaya Mwenyekiti ILani ya Mkutano Mkuu wa Mwaka Pg 3 Group Chief Executive's Corporate Governance Pg 13 Report Pg 4 Ripoti ya Mkurugenzi Financial. HighLights Pg 16 Mkuu
    [Show full text]