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CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Annual report and financial statements For the period ended 31st December 2016

Contents

Society Information

Report of board of directors

Statistical Information

Statement of the directors' responsibilities

' Report of the independent Auditor

Financial Statements

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Cash flow statement

Notes to the financial statements

Page

2

3

4

5-6

7

8

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10

11 - 22

CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Society Information For the period ended 31st December 2016

Board of directors

George Ariwi Odondi Elisha Achungo Ogonji Peter Mbalilwa Wendo Gabriel Okumu

Aisha Abdulbari Mutonga Pheny Kwamby Kinanga Augustine lthoka Mwenga

Irene Natalie Chami Erastus Omamo Cheti

Supervisory Committee

George Ochogo Makori Rachel Ngondo Mwadime Carolyne Achieng Olale

Principal place of business and registered office

Finnlemm Sacco Society 55 Gatundu Road - Kileleshwa P.O Box 67666-00200 NAIROBI

Independent auditor

Chairman Vice-chairman Hon. Secretary Treasurer

Chair-credit committee. Sec-Credit committee. Member-Credit committee.

Secretary-Education committee. Member-Education committee.

Chair-Supervisory committee. Secretary-Supervisory committee. Member-Supervisory committee.

MAZARS Certified Public Accountants (K) The Green House 3rd Floor, Suite 8&9 Adams Arcade along Ngong Road P.O. Box 61120 (00200) NAIROBI Tel: 254 020 3861175/76/79 Cell phone : 0722-440270/0734-440270 Email: [email protected] Website: www.mazars.co.ke

Principal bankers

Co-operative Bank of Kenya Nairobi Business Centre P.O Box 46541- 00100 NAIROBI

Legal advisers Adera & Company advocates Embassy Hse, 5th Flr,Harambee Ave. P.O Box 54556- 00200 NAIROBI

Barclays Bank of Kenya Hurlingham Branch P.O Box30120-00100 l)JAIROBI

Jackline P.A. Omolo & Company advocates 17th Fir, Anniversary towers P.O Box 3891- 00100 NAIROBI

Commecial Bank of Africa Lavington Branch P.O Box 30437- 00100 NAIROBI

Kale Maina & Co. Advocates Commissioners for Oath & Notaries Public.Teleposta Towers P.O Box 10674- 00100 NAIROBI

CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Report of the directors For the period ended 31st December 2016

The directors have pleasure to submit their annual report together with the audited financial statements for the period ended 31 December 2016 which disclose the state of affairs of the Society.

1 Incorporation

The Society was incorporated in Kenya under the Co-operative Societies Act Cap. 490 of 1997 amended in 2004 and is domiciled in Kenya

2 Principal Activity

The principal activity of the Society is receiving savings from and provision of loans to its members.

3 Results for the year

Results for the period are shown on page 7

4 Financial statements

At the date of this report, the directors were not aware of any circumstances which would have rendered the values attributed to the assets in the financial statements misleading.

5 Board of directors and committee members

The board and supervisory committee members who served during the year and to the date of this report are shown on page 1.

6 Board of directors and committee members' benefits

Since the annual general meeting of the Society to the date of this report, no board member or management committee member has received or become entitled to receive any benefit other than the management committee sitting allowance and other committee allowances and costs.

The aggregate amount of emoluments for committee members' services in the financial year is disclosed in note 10.

7 Auditor

The Society's auditor, Mazars, Certified Public Accountants (K) was appointed in office in accordance with the provision of the Kenyan Co-operative Societies Act 1997 (Amended 2008).

By order of the Board

Pet�Wendo HONORARY SECRETARY

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CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Statistical Information For the period ended 31st December 2016

31-Dec 31-Dec 2016 2015

Membership Kshs. Kshs.

Active 2,341 2,286 Dormant 792 1,021 Withdrawals 1,824 1, 115

4,957 4,422

31-Dec 31-Dec 2016 2015

Financial highlights Kshs. Kshs.

Share capital 24,162,000 22,392,000 Members deposit 1,034,359,078 915,759,035 Statutory reserve 13,205,363 11,028,983 Retained surplus 23,132,504 19,848,029 Property and equipment 132,053,200 121,032,066 Financial assets 23,227,390 23,186,932 Loans to members 1,005, 110,528 945,002,856 Total liabilities 1,260,508,961 1,170,743,760 Total assets 1,388,551,892 1,279,789,215 Current assets 246,826,324 209, 192,454 Current liabilities 102,208,787 102,081,428 Liquid assets 90,080,618 63,154,672 Interest on members deposits 90,000,000 82,000,000 Retained surplus for the year 8,705,519 2,864,455 Proposed dividends 2,416,200 2,239,200 Turnover/ income 150,242,160 128, 175,862

Employees of the Sacco 8 9

Expressed as percentage of turnover: % %

Financial expenses 1.26 6.27 Personnel expenses 9.45 9.93 Governance expenses 2.48 2.22 Members expenses 1.47 1.70 Administrative expenses 17.14 12.22

Yield ratios:

Liquidity ratio 2.41 2.05 Dividends pay out rate 10.0% 10.0% Interest pay out rate 9.5% 9.0%

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CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Statement of the directors' responsibilities For the period ended 31st December 2016

The Kenyan Co-operative Societies (Amendment) Act, 2004 requires the board of directors to prepare financial statements that give a true and fair view of the state of affairs of the society, as at the end of the financial year and of its operating results for the year. It also requires the board of directors to ensure that the society keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the society. The management committee is also responsible for safeguarding the assets of the society.

The management committee accepts responsibility for the preparation and fair presentation of financial statements that are free from material misstatement whether due to fraud or error. It also accepts responsibility for:

i) Designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial statements;

ii) Selecting and applying appropriate accounting policies; and iii) Making accounting estimates and judgements that are reasonable in the circumstances.

The management committee is of the opinion that the financial statements give a true and fair view of the state of the financial affairs of the society as at 31 December 2016 and of its financial performance and cash flows for the period then ended in accordance with International Financial Reporting Standards and the requirements of the Kenyan Co-operative Societies (Amendment) Act, 2004.

Nothing has come to the attention of the management committee to indicate that the society will not remain a going concern for at least the next twelve months from the date of this statement.

Approved by the board of directors on d- i ' a - 2017 and signed on its behalf by:-

Gabriel Okumu Treasurer

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Peter Mbalilwa Wendo Hon. Secretary

CS. NO. 3759 Report of the independent auditor To the members of Finnlemm Sacco Society Limited For the period ended 31st December 2016

Opinion

We have audited the accompanying financial statements of Finnlem Co-operative Society Limited for the year ended 31 December 2016.The Society's financial statements comprise:

• The Society's Statement of Financial Position as at 31 December,2016; • The Society's Statement of Comprehensive Income for the year then ended; • The Society's Cash flow Statement for the year then ended • The Society's Statement of Changes in Equity for the year then ended • Notes comprising a summary of the accounting policies and other explanatory

In our opinion

The Society's financial statements

•

•

give a true and fair view of the financial position of Finnlemm Co-operative Society Limited as at 31 December 2016 and of its financial performance for the year 2016.

have been properly prepared in accordance with International Financial Reporting Standards and applicable law.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (ISA's).Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Society in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Kenya, and we have fulfilled our ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter

1. We draw attention to note 29 to these financial statements showing that the Co-operative Society has put more than 25% of its funds in Finnlemm Development Company Limited an investment Company, thus a non compliance with Section 36 of the Co-operative Societies Act.

2. The Society investment in Finnlemm Development Company is not secured as the land in Finlem Development Company is not yet charged or under lien in favour of the Society to secure the investment.However as at the date of signing this report the process of charging the land was already underway.

3 The value of land in Finnlemm Development Company as compared to the initial investment reflects a shortfall of Kenya Shillings 58,569,722 thus indicating a depreciation in value of the investment.

5

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Other information

The directors are responsible for the other information. Other information comprises the information included in the Annual Report, but does not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Directors' responsibility for the financial statements

The directors are responsible for the preparation and fair presentation of the financial statements that give a true and fair view in accordance with International Financial Reporting Standards and the requirements of the Co-operative Societies Act, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Society's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Society or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Society's internal control. evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

6


conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Society's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditor's report. However, future events or conditions may cause the Society to cease to continue as a going concern. evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Report on other legal requirements

As required by the Co-operative Societies Act, we report to you, based on our audit, that:

i) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

ii) in our opinion proper books of account have been kept by the Society, so far as appears from our examination of those books; and

iii) the Society's Statement of Financial Position and Statement of Comprehensive Income account are in agreement with the books of account.

The engagement partner responsible for the audit resulting in this independent auditor's report was FCPA Charles Gathuto-P/No. 1231

2017

7

CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Statement of comprehensive income For the period ended 31st December 2016

Note 31-Dec 31-Dec 2016 2015

Income Kshs. Kshs.

Interest on loans and advances 3 142,722,597 121,248,444

Interest expense 4 (91,891,843) (90,034,655)

Operating surplus 50,830,754 31,213,789

Other interest income 5 6,819,563 6,210,523

Other operating income 6 700,000 716,895

Total operating income 58,350,317 38,141,207

Operating expenses

Personnel expenses 8 14,205, 170 12,730, 170 Governance expenses 9 3,729,484 2,849,284 Members expenses 10 2,202,024 2,175,470 Administrative expenses 11 25,748,554 15,659,067

Total operating expenses 45,885,233 33,413,991

Net operating surplus before income tax 12,465,084 4,727,216

Tax (1,583, 184) (1, 146,647)

Net surplus for the year 10,881,899 3,580,569

20% transfer to statutory reserve 2,176,380 716, 114

Surplus for the year available for distribution 8,705,519 2,864,455

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CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Statement of cash flows For the period ended 31st December 2016

Note 31-Dec 31-Dec 2016 2015

Kshs. Kshs. Cash flow from operating activities

Interest receipts 142,722,597 121,248,444 Interest paid (82,000,000) (73,000,000) Interest paid on Long term loan (1,891,843) Other income 700,000 716,895 Payment to employees and suppliers (28,727,810) (40,591,636)

30,802,944 8,373,704 (Increase) I decrease in operating assets

Net loans to members 15 (77,265,095) (141,493,927) Changes in receivables 13 (10,707,924) (145,786, 186) Changes in due from employers 13 3,284,519

Increase I (decrease) in operating liabilities

Increase in deposits from members 20 118,600,043 129,817,411 (Decrease)/lncrease in members' special deposits 21 1,037,800 3,696,184 Finbefu fund 25 (16,513,805) Changes in payables 19 (9,570,987) 5,990, 110 Net cash from operating activities before income taxes 52,896,781 (153,472,304) Income taxes (1, 100,994) (789,057) Honoraria paid (2,563,517) (2, 133,783)

Net cash from operating activities 49,232,271 (156,395,144)

Cash flow from investing activities

Purchase of property and equipments 18 (760,845) (2,858,960) Sale /(purchase) of financial assets 16 (40,458) (234,700) Insurance compensation 888,004 Investment income 5 6,819,563 6,210,523

Net cash used in investing activities 6,906,264 3,116,863

Cash flow from financing activities

Share capital contributions 1,770,000 1,072,753 Repayment of long-term borrowings (30,000,000) Prior year adjustments Working capital loan 143,333,333 Dividends paid (2,239,200) (2,200,000)

Net cash flow used in financing activities (30,469,200) 142,206,087

lncreasel(decrease) in cash and cash equivalents 26,885,548 (11,072,196)

At the start of the year 39,967,740 51,039,936

At end of the year 66,853,288 39,967,740

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CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Notes to the financial statements (continued) For the period ended 31st December 2016

31-Dec 31-Dec 3 Interest income 2016 2015

Kshs. Kshs.

Interest charged on Members loans 142,722,597 121,248,444

142,722,597 121,248,444

4 Interest expense

Interest on members Deposit 90,000,000 82,000,000 Loan Interest expenses 7,024,216 Interest on special deposits 1,736,948 927,219 Interest on junior account 154,895 83,220

91,891,843 90,034,655 5 Other interest income

Interest on savings 4,484,563 4,405,075 Dividend income 2,335,000 1,805,448

6,819,563 6,210,523 6 Other operating income

Rental income 700,000 716,895

700,000 716,895

7 Financial expense (Note 4)

Loan Interest expenses 7,024,216 Interest on special deposits 1,736,948 927,219 Interest on junior account 154,895 83,220

1,891,843 8,034,655

8 Personnel expenses

Salaries and wages 11,733,742 10,848,431 Medical expenses 2,471,428 1,881,739

14,205,170 12,730,170

9 Governance expenses

Committee education 304,034 539,625 Committee travel 3,425,450 2,309,659

3,729,484 2,849,284

10 Members expenses

Annual General Meeting 1,559,360 1,168,230 Education Members 642,664 1,007,240

2,202,024 2,175,470

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31-Dec 31-Dec 11 Administration expenses 2016 2015

Kshs. Kshs.

Insurance expenses 3,379,380 3, 178,307 Strategic plan review expenses 131,940 Depreciation on property and equipment 1,621,242 1,307,527 Professional fees 40,000 1,248,790 Security services 2,175,046 909,480 Telephone and postage 926,231 944,538 Office expenses 684,953 695,976 Bank charges 677,379 615,029 Advertising and public relations 979,768 1,714,835 Education - Staff Members 152,100 192,300 Auditors' fee 426,300 390,978 Property maintainance 452,920 270,971 Printing and stationery 499,685 449,271 Transport and subsistence 87,348 172,033 Electricity & water 240,840 294, 105 Computerization expenses 526,319 359,300 Legal, Consulancy and professional fes 6,000 Rent & Rates 88,044 75,580 Subscription expenses 40,000 20,000 Corporation tax 2,688,107 Provision for doubtful loans 12,745,000

25,748,554 15,659,067

12 Cash and cash equivalents

Chase Bank 9,451 9,451 Short term investment - CIC Money market 19,389,798 25,258,701 NIC bank A/C Co-operative Bank Curren 11,874,709 6,163,056 Barclays Bank Current A/C 24,466,614 4,386,698 Co-op Collateral Ale 1,800,000 600,000 Co-operative Bank reserve A/C 618,538 661,060 Commercial Bank Of Africa 3,023,138 K-Rep Bank Current A/C 1,240,774 510,826 Mpesa 4,418,106 2,356,999 Cash in hand 12,100 20,950

66,853,228 39,967,740

13 Prepayment and sundry receivables

Tax withheld 582, 176 45,653 Instalment tax 1,261,312 Recoverable deposits Telephone 40,689 40,689

Electricity 5,000 Water 25,000 25,000 Alarm deposit 8,000

Interest paid in advance 3,566,897 5,053, 158 Interest receivable from FDC Investment 21,570,737 Due from FDC: Related party transactions (Note 29) 129,690,895 140,913,935

156,745,706 146,037,782

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31-Dec 31-Dec

14 Interest receivable on loans 2016 2015 Kshs. Kshs.

Normal loan 11,830,826 6,388,705 Finbefu Loan 2,763,842 1,403,573 School fees 475,862 265,874 Motor Insurance loan 1,670 439 Plot loan 206,796 101,290 Express loan 7,216 Special loan 508,534 548,338 Emergency loan 389,280 176,056 Premium loans 49,317 Booster loans 522,853 320,530 Home loan 198,025 Car Loan 203,203

17,157,423 9,204,803

15 Loans advanced to members

At the start of the year 945,002,856 803,508,929 Granted during the year 601,907,645 628,128,948 Interest charged 142,722,597 118,242,326 Repayment during the year (651,053,250) (595,672,544) Interest receivable on non performing loans (4,412,423) (9,204,803) Doubtful loans {12,745,000)

1,005, 110,528 945,002,856 Analysed as follows:

Performing loans 960,881,236 897,807,253 Non performing loans (over 180 days) 47,796,189 47,195,603

1,008,677,425 945,002,856

The society has a loan guard policy on all classes of loan issued by the Co-operative insurance Company of Kenya limited in which there is compensation of insured loan balance in the event of death or total permanent disability of a member.

16 Financial assets 2016 2015 Kshs. Kshs.

Treasury bonds 10,703,555 10,703,555

KUSCO Central finance programme 378,500 338,042 Co-op Bank shares 2,219,030 2,219,030 KUSCO shares 3,416,310 3,416,310 CIC shares 2,509,995 2,509,995 Corporate bonds 4,000,000 4,000,000

12,523,835 12,483,377 23,227,390 23,186,932

17 Freehold land Cost At start of year 4,511,740 4,511,740 Additions At end year 4,511,740 4,511,740

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31-Dec 31-Dec 2016 2015

Kshs. Kshs. 19 Payables

Accrued Audit fee 213,150 195,489 Sundry creditors 3,240,801 2,237,797 Rent Prepayment 100,000 Rent deposit 193,965 193,965 Housing scheme 1,679,552 7,242,817 Ongata Rongai members funds 2,844,533 5,925,900 Benevolent fund 2,118,900 2,449,500 Kusco Housing fund 8,000 16,000 Employer organisations 226,701 718,967

10,625,602 18,980,435 20 Members' deposit

At the start of the year 915,759,035 785,941,624 Deposits during the year 151,207,203 152,715,486 Withdrawals I Refunds during the year -32,607 ,360 -22,898,075

1,034,359,078 915,759,035

21 Members' special deposits 10,607,764 9,569,963

22 Dividends payable

At 1 January 2,239,200 2,200,000 Dividends approved in the AGM 2,416,200 2,239,200 Payment during the year (2,239,200) (2,200,000) At 31 December 2,416,200 2,239,200

23 Honorarium payable At 1 January 2,563,517 2,133,783 Honorarium proposed and approved 3,004,843 2,563,517 Payment during the year (2,563,517) (2,133,783)

At 31 December 3,004,843 2,563,517

24 Interest payable 2016 2015 Kshs. Kshs.

At 1 January 82,000,000 73,000,000 Payment during the year (82,000,000) (73,000,000) Interest expense 90,000,000 82,000,000

At 31 December 90,000,000 82,000,000

25 Finbefu funds At 1 January 16,513,805 Changes during the period (16,513,805)

At 31 December

16


31-Dec 31-Dec 2016 2015

Kshs. Kshs. 26 Interest bearing liabilities 31-Dec 31-Dec

2016 2015 Kshs. Kshs.

Borrowings:

Current Portion 30,000,000 30,000,000

Non Current Portion 83,333,333 113,333,333

Co-op Bank Loan 113,333,333 143,333,333

The Bank Loan was obtained during the year 2014 and the terms are as follows;

Lender Principle Amount Interest Rate Security:

Cooperative Bank of Kenya Limited Kshs 300,000,000 15.3% Per Annum Monthly checkoff averaging 29.6 million Irrevocable interest from the sacco to their main employers to continue remmitting their monthly check-off through Co-operative bank.

Lien over ESS plus collateral account number 012480005491 with an initial cash deposit of Kshs. 100,000

The term loan is released in tranches an amount of Kshs 150,000,000 has been realeased as at 31 December 2016.

27 Share capital

As at January 2016 Contributions during the year

As at 31 December 2016

28 Reserves

Statutory reserve Revaluation reserves Capital reserves Proposed dividends Proposed honorarium Retained earnings

29 Related party balances (Due from FDC)

i) Balance Due from (statement of affairs) As at January 2016 Finnlemm Development company limited Recovered expenses by Finnlemm Sacco

17

22,392,000 1,770,000

24,162,000

13,205,363 57,610,280 4,511,740 2,416,200 3,004,843

23,132,505

103,880,931

140,913,936 11,522,192

(22,745,233) 129,690,895

21,319,247 1,072,753

22,392,000

11,028,983 46,461,987

4,511,740 2,239,200 2,563,517

19,848,029

86,653,456

140,913,936-

140,913,936

CS. NO. 3759 Finnlemm Co-operative Sacco Society Limited Income tax computation For the period ended 31st December 2016

31-Dec 31-Dec 2016 2015

Kshs. Kshs. 30 Investment in FDC

As at January 2016 50,100 50,100 Contributions during the year As at 31 December 2016 50,100 50, 100 This is amount of share capital contributed by Finnlemm Sacco Ltd to Finnlemm development company.

31 Comparatives Where necessary comparative figures have been adjusted to conform to changes in presentation in the current year.

32 Consolidation The results of the subsidiary company (Finnlemm Development Company Limited) have not been consolidated with the holding society financial statements for the following reason;

Finnlemm savings and Credit co-operative society is governed under the Kenyan Co-operative Societies Act No. 12 of 1994 as am mended in 2012 while the subsidiary company is registered and regulated under the Companies Act 2015.

Income tax computation Gross Taxable

As at 31st December 2016 amount % taxable Amount Tax@30%

Interest on Call' deposits 6,819,563 50% 3,409,781.46 1,022,934 Rent Income 700,000 100% 700,000 210,000 Dividend income 2,335,000 50% 1,167,500 350,250

9,854,563 5,277,282 1,583, 184

As at 31 December 2015

Interest on Call' deposits . 4,405,075 50% 2,202,537 660,761 Rent Income 716,895 100% 716,895 215,069 Dividend income 1,805,448 50% 902,724 270,817

6,927,418 3,822,156 1,146,647

18

g?o, finnlemm co-operative sacco society limited

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