IMPROVING MEMBER EXPERIENCE THROUGH RESPONSIVE LEADERSHIP
AWARD CATEGORIES AND JUDGING CRITERIA
The inaugural Think Business SACCO Awards 2024 will be held on Tuesday 26th November, 2024 at The JW Marriott Hotel, Nairobi.
This will be the inaugural edition of these annual awards organized and hosted by Think Business Limited, a strategic research and competitive intelligence company specializing on the financial sector.
The main objective of the Awards is to encourage innovation, prudence and confidence, in the SACCO sector by recognizing, awarding and celebrating exemplary performers.
The Awards process starts with the collection and analysis of published financial data of all participating SACCOs.
Some award categories require entries while others do not.
The process includes the following:
- Financial performance, based on our analysis of available financial information published by SACCOs.
- A Customer satisfaction surveys conducted by us.
- Market perceptions and awareness of products and services as determined through a survey.
- Publicly available information such as on corporate governance for the SACCOs.
- Charges based on our analysis of tariff guides of SACCOs.
- A comparative assessment of products and services offered by the SACCOs.
The Best SACCOs in Kenya 2024 will therefore be SACCOs that perform best based on these parameters.
Were entries are required, a panel of expert judges drawn from various disciplines shall decide on the winners as per set criteria. The judge’s decisions will be informed by assessment of information presented by the entrants as well as other information that will be availed to them from our analysis and surveys, whose results will be published in our SACCO Survey 2024.
The panel of judges may contact entrants directly for any additional information they might need to help them in the judging process.
PKF Kenya, our judging process partners, will oversee and audit the entire judging process including the selection of judges and verification of entries.
Entries commence on Friday 27th September, 2024 and close on Friday,25th October 2024. All entries must be submitted on the ThinkAwards platform accessible through the Think Business SACCO Awards website, https://uat.craftsilicon.com/SaccoAwards2/Account/
Eligibility
- Entries are open to all SACCOs regulated by SASRA.
- Entries must be for projects that have been implemented within the previous 18 months.
- Each award category has its eligibility criteria. Kindly refer to it to ensure you are entered in the most appropriate categories.
The judges reserve the right to amend the judging criteria, change the maximum allocated score for any criteria, accept or reject entries. Where one entry is submitted jointly by one or more parties, the judges have the authority to assess and determine if the entry was really a joint effort.
Submission Guidelines
- Log on to our awards website  https://thinkbusinessafrica.com/sacco/sacco-awards/.  Click on the submit entry link which will take you to our awards platform ThinkAwards
- Make sure it is clear what individual, department, company (or companies in the case of joint entries), you are entering. You can enter more than one project or program in a category.
- Include a summary of the product/company or individual you are entering for an award.
- Attach supporting documents: on your first page provide a simple covering statement of the story behind the project or program you have entered.
- Each category has its own judging criteria and parameters. Ensure that you provide information for each parameter as indicated in each award category.
- Pay attention to the maximum score awarded for each parameter.
- Attach relevant reference/supporting details including photos, videos as well as customer testimonials where applicable and available.
- If measurable targets were achieved, it is important to provide that evidence, i.e what the target was, if and how it was were achieved.
NB: No paper or late entries will be accepted. Entrants are not required to submit any financial reports.
CATEGORIES
1. Overall Best SACCO in Kenya 2024 [Submissions]
The Best SACCO in Kenya 2024 will be the SACCO that best demonstrates the following: Commitment to Environment, Social and Governance factors (EGS) best practices, products and process innovation, good customer ratings on its products and services as well as solid financial performance.
From each Tier, all SACCOs are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.
Based on their financial performance, the top 5 SACCOs in each of the four tiers will be shortlisted. They will then be assessed on ESG factors as shown in Appendix 2. Other parameters and attendant scores are listed below:
Only the Best SACCO in Tier 1, Tier 2, Tier 3 will be eligible to win this The Overall Best SACCO in Kenya. These Best SACCOs in each Tier will be then judged amongst themselves based on their performance in financials, corporate governance and other criteria listed below.
The judges will look at:
| Financial Criteria (see Appendix 1- Prorated 50%) | 50% |
| ESG Factors (see Appendix 2 – Prorated 20%) | 20% |
| Judging Criteria C. Other criteria | Max. Score |
| Membership, branches, agencies | 20% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 20% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 30% |
| Sub -total | 100% |
| Total (Prorated to 30%) | 30% |
2. The Best SACCO in Tier I [Submissions encouraged]
Tier I are SACCOs with total assets in excess of Ksh. 5 Billion. All SACCOs under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.
Based on the financial performance top 5 SACCOs will be shortlisted and then subjected to an assessment on the ESG factors and other Criteria whose parameters are listed below. The ESG Criteria is as shown in Appendix 2. The Best SACCO for this Tier will be the one with the total highest score in Financial Criteria, ESG factors and other criteria shown below.
The judges will look at:
| Financial Criteria (see Appendix 1- Prorated 50%) | 50% |
| ESG Factors (see Appendix 2 – Prorated 20%) | 20% |
| Judging Criteria C. Other criteria | Max. Score |
| Membership, branches, agencies | 20% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 20% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 30% |
| Sub -total | 100% |
| Total (Prorated to 30%) | 30% |
3. The Best SACCO in Tier II [Submissions encouraged]
Tier II are SACCOs with total assets less than Ksh 5 Billion but more than Ksh. 1 Billion. All SACCOs under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.
Based on the financial performance top 5 SACCOs will be shortlisted and then subjected to an assessment on the ESG factors and other Criteria whose parameters are listed below. The ESG Criteria is as shown in Appendix 2. The Best SACCO for this Tier will be the one with the total highest score in Financial Criteria, ESG factors and other criteria shown below:
The judges will look at:
| Financial Criteria (see Appendix 1- Prorated 50%) | 50% |
| ESG Factors (see Appendix 2 – Prorated 20%) | 20% |
| Judging Criteria C. Other criteria | Max. Score |
| Membership, branches, agencies | 20% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 20% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 30% |
| Sub -total | 100% |
| Total (Prorated to 30%) | 30% |
4. The Best SACCO in Tier III [Submissions]
Tier III are SACCOs with total assets less than Ksh 1 Billion. All SACCOs under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.
Based on the financial performance top 5 SACCOs will be shortlisted and then subjected to an assessment on the ESG factors and other Criteria whose parameters are listed below. The ESG Criteria is as shown in Appendix 2. The Best SACCO for this Tier will be the one with the total highest score in Financial Criteria, ESG factors and other criteria shown below:
The judges will look at:
| Financial Criteria (see Appendix 1- Prorated 50%) | 50% |
| ESG Factors (see Appendix 2 – Prorated 20%) | 20% |
| Judging Criteria C. Other criteria | Max. Score |
| Membership, branches, agencies | 20% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 20% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 30% |
| Sub -total | 100% |
| Total (Prorated to 30%) | 30% |
5. The SACCO with the lowest charges for SME / Individuals [Submissions]
A tariff survey on SACCO tariffs will inform the winners in this category. An index for SACCOs based on the charges levied to their customers. The basis of the rankings will be on three scenarios modeled around the SACCO activities of three typical customers then assessing how each customer would have been charged for similar transactions by each SACCO over a twelve-month period. The SACCOs will then be ranked from the lowest in charges to the highest. There will be two sub categories for this category
• The SACCO with the lowest charges for individual customers.
• The SACCO with the lowest charges for SMEs
6. Best SACCO to Borrow From [Submissions]
This category is open to all SACCOs. The wining SACCO will need to be financially stable, as evidenced in our analysis and also score well in ESG factors. Most importantly, this award is given to the SACCO with the lowest overall charge for a borrower taking a loan, these include legal and setup fees.
The judges shall examine:
| Financial Criteria (see Appendix 1- Prorated 30%) | 30% |
| ESG Factors (see Appendix 2 – Prorated 10%) | 10% |
| Max. Score | |
| Current interest rate charged on loans (Comparative analysis) | 40% |
| Legal fees charged (Comparative analysis) | 20% |
| Other setup fee and charges (Comparative analysis) | 20% |
| Total | 60% |
7. The Most Customer-centric SACCO [Submissions invited]
The category looks at the overall customer experience with their SACCOs. A country wide Customer Satisfaction Survey commissioned by Think Business and conducted by Infotrak Research & Consulting, amongst other information derived from entry document will be used to determine the winners.
Judges will be looking at:
| Max. Score | |
| Membership, branches, agencies | 10% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 50% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 10% |
| Total | 100% |
8. Best SACCO in Mobile banking [Submissions invited]
Customers are looking for convenient SACCO, Mobile banking offers them this opportunity and
the SACCO that will survive the competition is the SACCO that offers the most effective mobile banking application.
Judges will be looking at:
| Max. Score | |
| Scalability and integration possibilities of technology platform | 20% |
| Service offering on the Mobile banking platform | 15% |
| Fraud Detection and Prevention measures put in place by the SACCO | 15% |
| Turnaround time for SACCO account to Mobile Money Service Provider Account | 10% |
| Turnaround time for SACCO service queries | 10% |
| Nature of accessibility via different mobile gadgets | 10% |
| Demonstration of ease of registration and usage | 10% |
| Evidence of success in getting customers to use the platform. | 10% |
| Total | 100% |
9. Best SACCO in Internet banking [Submissions invited]
Internet banking has grown tremendously over the years among SACCOs. This category will award the best SACCO in provision of internet banking as an alternative channel to its customers particularly through a website.
Judges will be looking at:
| Max. Score | |
| Scalability and integration possibilities of technology platform | 20% |
| Service offering on the Internet banking platform | 15% |
| Fraud Detection and Prevention measures put in place by the SACCO | 15% |
| Ease of SACCO transfers to Bank account and to Mobile Money Service Provider Account transfers | 15% |
| Demonstration of ease of registration and usage | 15% |
| Real time accessibility to account transactions. | 10% |
| Evidence of success in getting customers to use the platform. | 10% |
| Total | 100% |
10. Best SACCO in Digital Banking [Submissions]
Digital technology is dramatically changing how SACCOs interact with their customers. Social media is transforming SACCO relationships in very significant ways, from improving customer service to allowing users to send money to others via online platforms.
Tell us the about your digital offering and the customer experience on your digital platforms
11. Best SACCO in Agency Banking [Submissions]
Several SACCOs in Kenya have embraced agency banking as a means to spread their network, moving services closer to the people and easing congestion in their FOSA halls. The advent of agency banking is already lowering the cost of doing business for many SACCOs. This initiative is therefore worth rewarding.
Judges will be looking at:
| Max. Score | |
| Number of agents across the Kenya | 30% |
| Distribution network of agents across Kenya | 20% |
| Value/ volume of transactions handled by agents | 30% |
| Diversity of services offered through agents | 20% |
| Total | 100% |
12. Best SACCO in Product Innovation [Submissions invited]
Entry is open to all products in the SACCO sector that entrants feel is most innovative. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.
13. Best SACCO in Product Marketing [Submissions invited]
Here the judges typically assess the product that was presented and delivered most effectively to the market. The winning entry will be that product that offers greater value to the customer based on the core elements of marketing – the SACCO’s pricing model, distribution network, promotional strategy and value addition of the product. Through a survey, SACCO customers are also asked to state what SACCO products were effectively sold to them. The team of expert judges then pick the winners from a weighted score which is determined also by the volume of actual business attracted by the marketing process.
Judges will be looking at:
| Max. Score | |
| Number of actual subscribers to the product | 10% |
| Value addition of the product to customers | 10% |
| Volume of actual business attracted by the marketing process | 20% |
| Technology application | 10% |
| Customer feedback | 20% |
| Distribution network and promotion strategy | 20% |
| Total | 100% |
14. Best SACCO in SME Banking [Submissions invited]
This is open to all SACCOs who lend to SMEs. First, they are assessed on ESG factors and financial soundness using the ten key financial ratios that are also used to determine the Best SACCO in Kenya with a maximum score of 60% (See Appendix 1 and 2).
| Financial Criteria (see Appendix 2- Prorated 30%) | 30% |
| ESG Factors (see Appendix 2 – Prorated 10%) | 10% |
The Judges then subject a shortlist of the top ten, to further scrutiny based on the following weighted scores:
| Max. Score | |
| Membership, branches, agencies | 5% |
| Average size of loan to SMEs | 10% |
| Product offering to SME segment | 10% |
| Technology application to SMEs | 10% |
| Customer Satisfaction Survey (Based on Think Business study) | 15% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Total | 60% |
15. Best SACCO in Mortgage Finance [Submissions invited]
This category is open to SACCOs that have Mortgage Finance products.
The judges shall examine:
| Max. Score | |
| The overall size of the mortgage book in 2023 | 15% |
| The rate of growth of the mortgage book in 2023 | 15% |
| The most competitive mortgage interest rates | 15% |
| The average quality and value of the mortgage book in 2023 | 15% |
| The level of innovation of mortgage products offered | 20% |
| The number of new mortgage customers in 2023 and average value of the loan | 20% |
| Total | 100% |
16. Best Islamic SACCO [Submissions invited]
This is open to all full-fledged Islamic SACCOs and other commercial SACCOs with Islamic windows. Under this category, SACCOs are first assessed on the basis of corporate governance and financial soundness (of the Islamic component).
The financial soundness will be determined by 10 different parameters that are used in The SACCO Survey rankings, which measure asset quality, liquidity, earnings and capital adequacy.
The judges shall examine:
| Financial Criteria (see Appendix 1- Prorated 50%) | 50% |
| ESG Factors (see Appendix 2 – Prorated 20%) | 20% |
The Judges then subject them to further assessment based on the following weighted scores:
| Max. Score | |
| Membership, branches, agencies | 20% |
| Product offering/ innovation (Comparative analysis) | 20% |
| Customer Satisfaction Survey (Based on Think Business study) | 20% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Technology application (Comparative analysis) | 30% |
| Sub -total | 100% |
| Total (Prorated to 30%) | 30% |
Each of these values are assessed and weighted. The scores are then evaluated and the SACCO, with the best overall
17. Best SACCO in Asset Finance [Submissions invited]
This category is open to SACCOs that offer Asset Financing.
The judges shall examine:
| Max. Score | |
| The overall size of the asset finance loan book in 2023 | 10% |
| The rate of growth of new asset finance customer accounts | 10% |
| The average quality of the Asset finance loan book in 2023 | 10% |
| The diverse types of assets financed | 10% |
| The number of new customer accounts in 2023 and average value of the same | 20% |
| The rate of growth of the asset book in 2023 | 20% |
| The level of innovation of asset Finance products offered | 20% |
| Total | 100% |
18. Best SACCO in Agriculture and Livestock Financing [Submissions invited]
This category is open to SACCOs that offer Agriculture Financing.
The judges shall examine:
| Max. Score | |
| The overall size of the agriculture finance loan book in 2023 | 10% |
| The rate of growth of new customer accounts in 2023 | 10% |
| The average quality and value in 2023 of the agriculture finance loan book | 10% |
| The diverse types of agricultural assets financed. | 10% |
| The number of new customer accounts and average value of the same in 2023 | 20% |
| The rate of growth of the loan book in 2023 | 20% |
| The level of innovation of agriculture Finance products offered | 20% |
| Total | 100% |
19. Best SACCO in Micro-credit [Submissions]
The judges assess the SACCOs offering Micro-credit. This category is open to SACCOs offering micro-credit products under the following definitions:
a) Small loans to the mass market
b) Informal appraisal of borrowers and investments
c) Collateral substitutes, such as group guarantees or compulsory savings.
d) largely targets the lower section of the income spectrum.
It is important that SACCOs offering services to the micro segment are first and foremost, financially stable to mitigate against the risk of these customers losing their money. Hence the need to subject them to a financial stability assessment. They should also buy into ESG factors.
| Financial Criteria (see Appendix 2- Prorated 30%) | 30% |
| ESG Factors (see Appendix 2 – Prorated 10%) | 10% |
The Judges then subject them to further assessment based on the following weighted scores:
| Max. Score | |
| No. and value of micro finance loans of less than Ksh 10,000 extended to customers | 10% |
| The SACCO with the lowest charges to customers (Based on our Tariff analysis) | 10% |
| Product offering to Micro-Finance segment | 20% |
| Membership, branches, agencies | 10% |
| Informal nature of loan appraisals, e.g. need for collateral for micro loans | 10% |
| Customer Satisfaction Survey (Based on Think Business study) | 10% |
| Technology application geared towards serving the micro segment. | 20% |
| Best SACCO to Borrow From (based on a comparative analysis) | 10% |
| Total | 100% |
| Subtotal Prorated to 60% | 60% |
20. The Most Efficient SACCO [Submissions encouraged]
This shall basically be determined by the lowest cost-income-ratio in 2023. This is a financial ratio that looks at what it costs to generate a certain level of income. All the SACCOs are assessed equally regardless of size.
21. Best Recovery Award [Submissions encouraged]
The Judges will be looking at the most sustainable turnaround from loss making to profitability. The winner will be the SACCO that has sustained profitability for at least three years.
| Max. Score | |
| Growth in total assets (2021 – 2023) | 20% |
| Growth in member contributions and deposits (2021 – 2023) | 20% |
| Growth in profits (2021 – 2023) | 20% |
| NPLs ratio (2021 – 2023) | 20% |
| Efficiency ratio (2021 – 2023) | 10% |
| New branches/ outlets opened (2021 – 2023) | 10% |
| Total | 100% |
22. Best SACCO in sustainable Corporate Social Responsibility [Submissions invited]
The critical need for corporates to be socially responsible by giving back to society cannot be gainsaid. The objective of this award is to recognize SACCOs that are doing well on this front and to encourage those that have not embraced CSR to do the same. The Judges will be looking at organizations that have adopted a CSR policy and continued commitment to sustainability.
| Max. Score | |
| Existence of a vehicle (i.e foundation) through which CSR is undertaken | 5% |
| The level of staff, board and management involvements in the CSR activities | 10% |
| The regional spread (across the country) of the SACCO’s CSR program(s). | 15% |
| The diversity of the CSR programs (i.e. education, health e.t.c) | 10% |
| The levels of innovation of the CSR program (identifying the need) | 15% |
| The motivation and participation of partners, communities | 10% |
| Commitment to long-term investment of resources towards the CSR program | 15% |
| A clear measurement of impact and solution of the CSR program(s) to the community | 20% |
| Total | 100% |
SECTION C: INDIVIDUAL RECOGNITIONS
23. Outstanding Young SACCO professional of the year [Submissions invited]
This is a new category that aims at showcasing tomorrow’s pacesetters in the Kenyan SACCO industry. The entrant should be below 35 years and working in the SACCO sector. The entrant should have shown the ability to generate new ideas, drive innovation and sustainable growth. Through his or her deeds (actions) the individual should have positively changed the fortunes his/her institution to the benefit of customers, colleagues, counterparties, communities and the SACCO sector. Submissions may be sent by the employing institution or by a person other than the entrant.
24. Chief Executive Officer of the year [Submissions invited]
This award shall be won by a chief executive in any of the SACCOs deemed by the judges to have made the greatest contribution in the growth of their SACCO’s business in 2023.
Judges Will is looking at:
| Max. Score | |
| The performance of the SACCO with him/her at the helm. | 50% |
| SACCO systems innovation and diversification through his/her leadership | 20% |
| Demonstration of commitment to corporate governance. | 20% |
| Individual service and contribution to growth of the sector | 10% |
| Total | 100% |
25. Lifetime Achievement Award in the SACCO Sector [Submissions invited]
We invite CEOs of SACCOs to send in nominations for long serving individuals in the SACCO sector, active, retired or posthumous for considerations for the lifetime achievement in SACCO.
The individual must have spent at least 20 years in SACCO and has had an outstanding and made a lasting contribution to the growth of the sector.
26. Special Judges Awards for Product Innovation [Submissions invited]
This award is given in recognition of innovative products developed outside the SACCO sector but which have a major impact on the lives of existing and potential SACCO customers. The judges will be looking for breakthrough products developed through cutting edge design, research and development that have redefined the market by improving usability, access and value to the customer.
NOTE:
If you have any feedback regarding the award categories and judging criteria, contact us at info@
thinkbusinessafrica.com. You can also visit our website www.SACCOsurvey.co.ke.
All information contained in the entries and marked confidential will remain so, and will not be released without the permission of the entrant.
Think Business Limited
4th Flr. Delta Corner Annex, Wayiaki Way, Westlands, Nairobi
P.O. Box 12800 – 00100 GPO, Nairobi
Tel: +254 704 096 289 / +254 0722 335 421
Website: www.thinkbusinessafrica.com
Appendix 15
| JUDGING CRITERIA_A. Financial Criteria | Max. Score |
| Return on average assets | 10% |
| Return on average core capital | 5% |
| Cost of Funds | 5% |
| Efficiency Ratio (Cost income ratio) | 5% |
| Total non-performing loans to total advances | 5% |
| Total Insider Loans to Core Capital | 5% |
| Non-performing loans provision to operating income | 5% |
| Core Capital to Total deposits | 5% |
| Quick Assets to Total Liabilities | 5% |
| Total Assets | 5% |
| Pre-tax Profits | 5% |
| Total | 60% |
| Sub Total Pro-rated to 30% | 30% |
Appendix 2
| JUDGING CRITERIA_B. ENVIROMENTAL SOCIAL & GOVERNANCE (ESG) FACTORS | Max. score |
| Environmental | |
| Do you have any investments in green portfolios? | 2% |
| Do you have a policy on funding non-environmentally friendly investments/ investors? | 2% |
| What is the extent of your funding to environmentally friendly ventures? environmental protection initiatives? List them. | 5% |
| Do you on your own or with other partners engage in environmental protection initiatives? List them. | 7% |
| In your annual reporting do you produce a sustainability report? (Kindly attach it) | 5% |
| Do you have financial solutions/products that generate a positive environmental impact? | 2% |
| Do you have a policy on energy use, greenhouse gas emissions, water and hazardous waste management? | 2% |
| Do you require your suppliers hold the same environmentally friendly values that you do? environmentally friendly? | 5% |
| Sub total | 30% |
| Social | |
| Are you in compliance with the SACCO sector charter? | 2% |
| Do you have a deep understanding of the financial lives of your consumers? How are you using that insight to develop affordable, innovative and scalable products to help them improve their financial health? | 5% |
| Do your working conditions, (even now with Covid-19) show a high regard for your employees’ health and safety? | 5% |
| Do you have a vehicle (i.e foundation) through which your CSR is undertaken? | 2% |
| What is the level of staff, board and management involvements in the CSR activities? | 2% |
| What is the regional spread (across the country) of the SACCO’s CSR program (s)? | 5% |
| What is the diversity of the CSR programs (i.e. education, health e.t.c)? | 5% |
| What is the levels of innovation of your CSR program (identifying the need)? | 5% |
| Have you committed to a long-term investment of resources towards the CSR program? | 2% |
| Do you clearly measure the impact and solution of the CSR program(s) to the community? | 7% |
| Sub total | 40% |
| Governance | |
| Age diversity – What is the average age of board members? | 2% |
| Gender – What is the ratio of Female: Male board members? | 2% |
| Professional diversity- How many different professionals are on the board? | 2% |
| Appointments – Do you have transparent and documented procedures for appointment of new Board members (e.g nomination committee)? | 2% |
| Performance: Do you conduct annual performance evaluation of Board members, (including the CEO and Company Secretary)? | 2% |
| Code of Ethics – do you have documented ethical standards and do you ensure it is complied with? | 2% |
| Do you have a dedicated shareholder engagement/ outreach mechanism? | 2% |
| Do you have an ESOP? | 4% |
| Do you have competitive supplier acquisition process? | 2% |
| Cybersecurity, being one of the biggest threats facing the global financial system, is it a top priority for your SACCO? Do you devote significant resources to protecting and continuously improving your cyber security? | 5% |
| Do you have an independent risk management and compliance process/system? | 5% |
| Sub total | 30% |
| TOTAL | 100% |
