Course Overview:

This training is designed to equip SACCO leaders, finance officers, and board members with critical financial management and reporting skills tailored to the cooperative environment. The course aims to enhance the financial literacy and accountability of SACCO stakeholders to ensure sustainability, transparency, and compliance with regulatory frameworks. Participants will gain a solid foundation in budgeting, financial analysis, statutory reporting, and decision-making based on financial data.

Course Content:

Module 1: Introduction to SACCO Financial Management

  • Principles of financial management
  • The role of finance in SACCO operations
  • Legal and regulatory environment for SACCOs

Module 2: Budgeting and Financial Planning

  • Types of budgets (operational, capital, cash)
  • Budget preparation and approval process
  • Forecasting techniques
  • Variance analysis

Module 3: Financial Statements and Reporting

  • Components of financial statements (Income Statement, Balance Sheet, Cash Flow Statement)
  • Interpretation of financial reports
  • Monthly, quarterly, and annual reporting requirements
  • Reporting standards for SACCOs

Module 4: Financial Performance Analysis

  • Financial ratios (liquidity, solvency, profitability)
  • Trend analysis
  • Benchmarking with other SACCOs
  • Identifying financial risks and red flags

Module 5: Regulatory and Statutory Compliance

  • Compliance with SASRA and other regulators
  • Audit requirements and working with auditors
  • Tax obligations and reporting

Module 6: Internal Controls and Financial Governance

  • Importance of internal controls in SACCOs
  • Segregation of duties and fraud prevention
  • Role of the board in financial oversight
  • Ethics and accountability in financial management

Module 7: Technology in Financial Reporting

  • Use of financial software and digital tools
  • Data security and financial systems
  • Automating reports and dashboards

Module 8: Practical Exercises and Case Studies

  • Real-life financial scenarios in SACCOs
  • Group exercises on budgeting, reporting, and analysis
  • Interactive Q&A sessions

Target Audience:

  • SACCO Board Members
  • SACCO Managers and CEOs
  • Finance Officers and Accountants
  • Internal Auditors
  • Supervisory and Credit Committee Members
  • Aspiring SACCO professionals and trainees

Course Duration:

5 Days (Full-Time In-Person or Virtual)

  • Day 1:Modules 1 & 2
  • Day 2:Modules 3 & 4
  • Day 3:Modules 5 & 6
  • Day 4:Module 7 and Practical Exercises
  • Day 5:Final Case Studies, Review, and Certification