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SU-2019-Annual-Report.Pdf ACRONYMS Association of Chartered Certified KPI Key Performance Indicators ACCA Accountants KRA Kenya Revenue Authority Association of Commonwealth ACU KShs Kenya Shillings Universities MBA Master of Business Administration BAC Bachelor of Arts in Communication MC Management Committee Bachelor of Arts in International BIS MOU Memorandum of Understanding Studies MW Megawatts Bachelor of Arts in Development BDP Association of Schools of Public Studies and Philosophy NASPAA Affairs and Administration BPO Business Process Outsourcing National Environmental Management CAF Confederation of African Football NEMA and Authority CDE Challenge Driven Education NITA National Industrial Training Authority CEO Chief Executive Officer NPS National Police Service Centre for Intellectual Property and CIPIT Partnership for Enhanced Blended Information Technology PEBL Learning Centre for IT Security Privacy and CISPA PIC Policy Innovation Centre Accountability PhD Doctor of Philosophy Committee of Sponsoring COSO Organisational Framework PPA Power Purchase Agreement CPA Certified Public Accountant Prof. Professor CUE Commission of University Education PV Photovoltaic UK Department for International Sub Saharan Africa International DFID SAIMUN Development Model United Nation Conference Strathmore University Business DRAMASOC Drama Society Club SBS School DVC Deputy Vice Chancellor SDGs Sustainable Development Goals Emirates Academy of Hospitality EAHM Management SEDC Enterprise Development Centre East and Central Africa Social Strathmore Extractives Industries ECASSA SEIC Security Association Centre EMEA European Middle East and Africa SERC Strathmore Energy Research Centre School of Humanities and Social ENACTUS Entrepreneurial Action Us SHSS Sciences ERC Energy Regulatory Commission Strathmore Institute of Public Policy FIT Faculty of Information Technology SIPPG and Governance FKF Football Kenya Federation Senaca International Security Deutche Gesellschaft fur International SISC GIZ Company Zusammenarbeit SLS Strathmore Law School Haemoglobin Oxygen Affinity SSTL Strathmore Solar Testing Laboratory HOPE Modulation to Inhibit HBS Social Technical Approach to Road Polymerization STA Safety HOSCO Hospitality Connect STH School of Tourism and Hospitality ICA International Cooperative Alliances SUF Strathmore University Foundation Information Communication and ICT Strathmore University IT Students Technology SUITSA Association International Centre for Tax and ICTD Development SU Strathmore University International Criminal Tribunal for the TFTA Tripartite Free Trade Area ICTY Former Yugoslavia UK United Kingdom International Centre on Hotel United Nations High Commission for UNHCR ICHRIE Restaurant and Institutional Refugees Education United Nations Convention on the UNCLO ICJ International Court of Justice Law of the Sea Institute of Electrical and Electronics VC Vice Chancellor IEEE Engineering VCD Vice Chancellor Designate International Professional Practices Vocational Training and Education for IPPF VOCTEC Framework Clean Energy IOT Internet of Things Women in Sustainable Energy and WISE IT Information Technology Enterpreneurship KAM Kenya Association of Manufacturers TABLE OF CONTENTS STRATHMORE AT A GLANCE 06 1 STRATEGIC OBJECTIVES 07 OUR IDENTITY 08 OUR VALUES 09 OUR SCHOOLS AND RESEARCH CENTRES 10 MILESTONES OF STRATHMORE 11 STRATEGIC REVIEW 14 2 INTRODUCTION 15 VISION 16 OUR PILLARS 17 OUR BUSINESS MODEL 18 FINANCIAL OVERVIEW 20 3 FINANCIAL STATEMENTS ALIGNED WITH FOCUS ON 21 THE STARTEGIC PILLARS 4 STAKEHOLDER ANALYSIS & ENGAGEMENT 28 GOVERNANCE AND MANAGEMENT 34 5 WHO GOVERNS US 38 CORPORATE STRUCTURE OF THE UNIVERSITY 45 WHO LEADS US 46 STATEMENT FROM THE CHAIRPERSON 48 STATEMENT FROM THE VICE CHANCELLOR 50 CORPORATE GOVERNANCE REPORT 53 6 RISK MANAGEMENT 60 SUSTAINABILITY 64 7 CROSS CUTTING AREAS AND ENABLERS 65 HUMAN AND INTELLECTUAL CAPITAL 66 UNIVERSITY POWERED BY THE SUN 69 SOCIAL AND RELATIONSHIP CAPITAL 70 COMMUNITY REACH ENGAGEMENT STATISTICS 71 8 RESEARCH 74 9 STUDENT AFFAIRS 78 10 SCHOOLS AND CENTRES 84 11 FINANCIAL STATEMENTS FOR THE YEAR ENDED DEC 2019 144 STRATHMORE UNIVERSITY | ANNUAL REPORT 2019 3 Strathmore is a modern university with a global outlook, whose strategic plan aims at helping it realise the deep-rooted vision of becoming a leading outcome-driven OUR APPROACH entrepreneurial research University TO INTEGRATED by translating excellence into a major ANNUAL contribution to culture, economic well- being, and quality of life. The University REPORTING continues to make its mark with quality, well-directed teaching and research, and an enriching experience for our students – both locally and internationally. The University understands its current performance, through an in-depth and well informed analysis of both where it is favourable and less so, and the supporting reasons. Having put in place frameworks and plans – such as the ten-year Strategic Plan 2015 – 2025, to make progress towards meeting its set targets, to manage emerging risks and to exploit its opportunities, the University has a clear vision of its impact in the African region in future. Strathmore University seeks to keenly and progressively demystify the outlook on Annual Reports and Financial Statements as mere pages of numbers for accountants to pore over, by distilling the complexity and presenting the information in a relevant, engaging and effective way through adoption of the Integrated Reporting Framework. We aim to look beyond our financial value and incorporate non-financial performance into our assessment too, as a way of presenting a more balanced report of how we create value in the short, medium and long term. 4 STRATHMORE UNIVERSITY | ANNUAL REPORT 2019 An integrated report tells who we are and shows where we are going. It communicates how economic, environmental and social sustainability are incorporated and implemented into our strategy. This, according to Professor Mervyn E. King – Chair International Integrated Reporting Council (IIRC), recognises “value” as more than simply financial value and allows reporting to adapt to a constantly changing and demanding environment. The integration of the six capitals, namely; financial (any economic resource measured in monetary terms), human (skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to the organisation), manufactured (material goods or fixed assets which contribute to the production process), natural (a stock, and from it flows ecosystem services or benefits), social and relationship (involves the business itself, the formal and informal entities and institutions associated with it, as well as the relationships with and between employees, communities and other stakeholders), and intellectual (the intangible assets that contribute to a company’s bottom line), into the core of Strathmore University’s business model ensures growth in our stocks of value through the transformation of our activities and outputs. Most universities in our region are yet to adapt to the preparation of Integrated Reports. Apart from being diverse, complex and unique places of education, of research, and innovation, universities are also major employers and an important part of the local economy. The annual reports of these institutions are mostly a presentation of their financial statements, the interpretation of which becomes rather difficult and ambiguous to a great extent. This report attempts to adopt a more strategic and futuristic approach, and to provide a more comprehensive picture of the activities and performance at Strathmore University. The technical annex at the end of this report sets out the full financial disclosures and reconciliations. STRATHMORE UNIVERSITY | ANNUAL REPORT 2019 5 01 STRATHMORE AT A GLANCE STRATEGIC OBJECTIVES: Transformative Student Experience Our key stakeholder is the student; this is why our priority is to provide them with quality education and lifelong learning opportunities. Research and Innovation The University has vibrant research centres and projects that foster innovation spanning across: health and health care management, mobile application and cyber security, renewable energy and energy efficiency, public policy, governance and integrity, entrepreneurship, sustainable tourism, mathematical modelling and applied statistics, extractive industries and intellectual property. Service to Society Strathmore University strives to make a significant contribution to the community’s social, intellectual, economic and cultural development locally as well as internationally. Transformative Staff Experience This pillar envisages a supportive, developmental environment and culture in a community in which every member of the University is enabled to achieve his/her full potential and support the key objectives of the University strategy. STATISTICS: Strathmore Graduates were University employed within graduates most 70% 3 months of 78% preferred completing their by employers. degree In 2019. GREEN ENERGY: CROSS-CUTTING RESEARCH: Global Challenges Research Fund (GCRF) 1st Carbon rated Scoping studies on institution in solar electric mobility and energy in Africa. cook stoves - Ethiopia. STRATHMORE UNIVERSITY | ANNUAL REPORT 2019 7 OUR T Three Hearts repr ree T Lion s strength rac 1961 courage termined IDENTITY Uv start wer regated f excellenc stice I c syst ation. repr Keny country Today s c striv t a r t s ove. a roces Strathmore. Yellow: ( ternity perfection. Blue: Are
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