ACWECA: Finance Management Training Empowers ACWECA Stakeholders on Good Leadership and Accountability
ACWECA Stakeholders. Credit ACWECA
Sr. Jecinter Antoinette Okoth, FSSA
At a virtual training session which targeted stakeholders of the Association of Consecrated Women in Eastern and Central Africa (ACWECA), the participants have been empowered on how to successfully manage their business entities through good governance.
The five-day training brought together ACWECA Executive Board members, National Association Secretaries General, treasurers and ACWECA Staff from Uganda, Kenya, Tanzania, Zambia, Malawi, Zimbabwe, and South Sudan.
“Governance requires adequate understanding of the business entity, its processes, objectives and expected deliverables,” one of the facilitators Mr. Jacob Onyango the Head of Finance and Investments at Mission for Essential Drugs and Suppliers (MEDS) told participants during the online training adding that “It entails oversight of the day to day business activities to ensure that the mission and vision of the organization are realized.”
He reminded the stakeholders of the significance of reviewing the core values of corporate governance from time to time “in order to progressively give the organization appropriate direction at all times in view of changing business circumstances.”
According to Mr. Onyango who oversees formulation and implementation of financial policies as well as adherence to cost control measures at MEDS, proper financial management in an organization calls for management of available resources in a prudent, transparent and accountable manner for the benefit of stakeholders and those who rely on the organization’s services.”
He reminded the 33 participants of the importance of having checks and balances through which the owners of the organization can remotely assess performance and assure themselves that the organization is running well since “In most cases, the owners of the organizations are often divorced from the day-to-day management.”
In the training themed “Essentials of Good Governance” Mr. Onyango further enlightened participants that “Good governance requires stakeholders to understand the importance of meetings since these are crucial fora through which organizations conduct their affairs.”
Speaking about budgeting, reporting and procurement at the same training which took place from May 3rd to 7th, another facilitator Sr. Consolata Aloo emphasized that budgets are important in an organization as tools for “planning, directing, coordination, communication, and evaluation.”
She informed the stakeholders that budgeting requires teamwork and participatory approach hence, “Management needs to understand the importance of the budget, its needs, the development processes, monitoring and they also need to defend the budget.”
Additionally, Sr. Consolata a member of the Franciscan Sisters of St. Anna (FSSA) noted that budgetary controls help in “guiding internal processes of an organization to achieve its objectives most effectively and efficiently.”
Hence budgetary planning and controls require “a sound and clearly defined organizational structure, adequate accounting records and procedures, support and commitment of top management, continuous training on the development and use of budgets and timely reporting and monitoring of financial statements,” Sr. Consolata who is the Executive Secretary to the Catholic Scholarship Program for Kenya (CSPK) told the participants.
According to Sr. Betty Grace Atim an ACWECA staff who was the overall coordinator of the sessions said that, the training will help the beneficiaries know “better ways to develop internal control systems, have proper segregation of duties with clear systems of authorization in handling financial matters and improve on budgeting and monitoring of budgets and reporting which ensures effectiveness and efficiency of operations.”
On her part the ACWECA Secretary General Sr. Hellen Bandiho a member of the Congregation of St. Theresa of the Child Jesus reminded the stakeholders in her opening speech that as servant leaders who have been entrusted with resources for the institutions, “We have to account for everything we receive and use. More importantly let us use the skills gained from this training to improve our congregations and associations.”
ACWECA is a regional body of Religious women congregations comprising National Associations of Sisterhood from 10 English speaking countries namely Eritrea, Ethiopia, Kenya, Malawi, South Sudan, Sudan, Tanzania, Uganda, Zambia and Zimbabwe. Its Secretariat is situated in Nairobi, Kenya.
