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BOARD PERFORMANCE REPORT - youthfund.go.ke

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BOARD PERFORMANCE REPORT June 2016 May 2019 Ronald Osumba Chairman, Youth Fund Board
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Page 1: BOARD PERFORMANCE REPORT - youthfund.go.ke

BOARD PERFORMANCE

REPORT June2016–May2019

RonaldOsumbaChairman,YouthFundBoard

Page 2: BOARD PERFORMANCE REPORT - youthfund.go.ke

Situational Analysis

Page 3: BOARD PERFORMANCE REPORT - youthfund.go.ke

Turnaround Strategy Inconsultationwithvariousstakeholders,theBoardofferedguidanceandstrategicdirectiontopurposelychanneltheFund’savailableresourcestoidentifiedpriorityareas.

TheBoardidentifiedpriorityareaswhichformedthedeliverablesforthefirst100daysundertheRRIprogramme.ThiswasaimedatstrengtheninginternalprocesseswithaviewtoenhancingoutputintheFund’sfunctionalareas.

Page 4: BOARD PERFORMANCE REPORT - youthfund.go.ke

Enhanceemployeedevelopment,performanceandretention

Fundproductsmoreattractiveandcompetitive,theBoardsetouttoimproveonuptake

Toguaranteeoperationalefficiencyandeffectiveness,theBoardmadedeliberateeffortstostrengtheninternalprocesses

Developmentoffunctionalpoliciesandprocedurestoenhancestandardization,consistencyandoverallefficiency

EstablishmentofstrategicpartnershipswithkeystakeholderstoenhancetheFund’sreachandlong-termsustainability

Page 5: BOARD PERFORMANCE REPORT - youthfund.go.ke

Governance

1.BoardCharter

ThecharterdefinestheBoard’srolesandresponsibilitiesaswellasfunctionsandstructuresthatsupportmembersincarryingouttheirstrategicoversightfunction.

2.Induction&ContinuousSkillsDevelopment

Inordertoprovidedirectionforeffectivegovernanceandoversight,BoardmemberswereenrolledforaninductionprogrammeonMwongozo,facilitatedbySCAC.

Page 6: BOARD PERFORMANCE REPORT - youthfund.go.ke

3.AnnualWorkPlan

TheBoarddevelopedannualworkplanstogovernallitsprogrammes.ThisensuredmeetingsandotherscheduledactivitieswereconductedasguidedbytheStateCorporationsActandMwongozoCodeofGovernance.

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4.BoardEvaluation

InitsfirstperformanceevaluationinFY2016/17,facilitatedbySCAC,theBoard’saggregatescorewas87.7percent.Thisimprovedto89.47percentinFY2017/18

Page 8: BOARD PERFORMANCE REPORT - youthfund.go.ke

Cumulative Achievements

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Business Development and Support Services

5,4005,5005,6005,7005,8005,9006,0006,100

FY2006-15 FY2016-19

5,644

6,070

No.ofYouth

107%Uptake increase in the last three years

150modern market stalls in

addition to the existing 15 units.

6,650Number of Youth facilitated

1.   EntrepreneurshipTraining,MentorshipandCoaching

2.  MarketSupportandLinkages

3.   CommercialInfrastructure

4.   YESAProgramme

Page 10: BOARD PERFORMANCE REPORT - youthfund.go.ke

5.   AccesstoGovernmentProcurementOpportunities

6.   YouthInternship

Programme

52%326,000, 000

Percentage of reserved procurement expenditure for

AGPO category

Total LPO amount advanced in the last three years benefiting 525 youth

230Numbers of Youths offered industrial attachment and

internship by the Fund in the last three years

Page 11: BOARD PERFORMANCE REPORT - youthfund.go.ke

The revised credit policy was adopted

Fund saw an immediate and significant upsurge in loan uptake. In the first half of FY 2017/18, the Fund disbursed a total of

Sh376 million, which was 101 percent more than the amount disbursed in a

similar period the previous year.

Aggregately, in FY 2017/18, a total of Sh549 million was disbursed to 109,840 youth, representing a 57 percent improvement

compared to the FY 2016/17.

Number of youth who received funding in

FY 2017/18

101%57%

376,000,000549,000,000

109,840

Increase compared to FY 2016/17

Improved loan disbursementin FY 2017/18

Re-engineeringofLoanProducts

Page 12: BOARD PERFORMANCE REPORT - youthfund.go.ke

0.00

100,000,000.00

200,000,000.00

300,000,000.00

400,000,000.00

500,000,000.00

600,000,000.00

2015/16 2016/17 2017/18 2018/19

Disbursements

Projected Disbursements

Sh. 433m

Sh. 514m

Average between 2013-2016

During the Board term

LoanDisbursements

Page 13: BOARD PERFORMANCE REPORT - youthfund.go.ke

0.00

100,000,000.00

200,000,000.00

300,000,000.00

400,000,000.00

500,000,000.00

600,000,000.00

2015/16 2016/17 2017/18 2018/19

Loan Repayments

Repayments

Projected Repayments. Projected Repayments

58%

88%Average between 2013-2016

During the Board term

LoanRepaymentsSummary

Page 14: BOARD PERFORMANCE REPORT - youthfund.go.ke

Financial Management

Sh. 201,614,139

Sh. 53,265,605

Deficit reported in FY 2014/15

Deficit reported in FY 2018/19

FinancialPerformance

Duringitstenure,theBoardensuredprudenceintheFund’sfinancialmanagementprocesses,significantlyreducingitsdeficit

RevolvingFund

Overthelastthreeyears,theFundhasgrownitsrevolvingfundfromSh2.7billionintheFY2015/16to

Sh3.8billioninFY2018/19.

Sh. 2.7bn

Sh. 3.8bn

in FY 2015/16

Revolving fund up in FY 2018/19

from...

$

$

Page 15: BOARD PERFORMANCE REPORT - youthfund.go.ke

BudgetaryAllocation

DevelopmentgrantallocationgrewfromSh105,336,000inFY2014/15toSh335,

336,000inFY2019/20.

Page 16: BOARD PERFORMANCE REPORT - youthfund.go.ke

Strategic Partnerships

TheFunddevelopedapolicyandstrategyforcontinualprospecting,developmentand

managementofstrategicrelationshipswithcredibleorganizationsinboththepublicandprivatesectors.

Page 17: BOARD PERFORMANCE REPORT - youthfund.go.ke

PublicSectorsPartners

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PrivateSectorPartners

Page 19: BOARD PERFORMANCE REPORT - youthfund.go.ke

Impact investment

AnewstudybyUS-basedconsultancyFRLLCandUniversityofVirginiaBusinessSchoolshows.

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Page 21: BOARD PERFORMANCE REPORT - youthfund.go.ke

“SocialimpactcapitalisagrowinginvestmentflowinKenyarepresentingupto$600millioninshareholdingsinover200companiesinEastAfricawithanadditional$650millioninthepipelineforinvestment,”thesurveyreportreads.

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“Whilepreviouslyinvestinginstart-upandearlystagegrowthcompanies,socialimpactinvestorsarenowcompetingforexpansiondealsof$3millionto$5million.”

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Theentryofimpactinvestorsintothelocaldealsscenehasseenthemcompeteforthelimitednumberofviablestartupswithmoretraditionalprivateequityfirms,whichhashadtheeffectofdistortingthemarketbydrivingupvaluationsofpotentialtargets.

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“CompetitionbetweensocialimpactinvestorsandPEfundshaddrivenvaluationsbytwotothreetimesoverthelastfiveyears,”saidthereport.

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Thefindingsofthereportarebasedon14casestudiesofearlystageSMEsandapollof16representativesoffinancialandprivateequityfirms.

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Totheyouth;embraceyourchancetoleadbyseizingtheopportunity

andturningitintotangibleachievement.Youmuststandup,offeryourselves,

dedicateyourselves,shoulderresponsibility,andcarrytheworldintothefuture.

~HisExcellencyPresidentUhuruKenyatta


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