Corporate Governance and Access to Finance - ESBG

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Some examples of the relevance of the access to finance objectives in theperformance contract are the following 39 :n Under the Non-financial indicators category, one objective is theintroduction of deposit collection through mobile phone services.n Related to Operations, the objectives are to increase the deposit baseby 30 percent and the number of customer accounts by 19 percent.In both cases, this growth will be driven by introducing an efficientdelivery system; removing maintenance and ledger fees, developingmarket led products, and savings and financial literacy educationcampaigns.n For 2009 KPOSB has also the objective of introducing two newproducts and 50 new Points of Sale (POS).For more information on Kenya Post Office Savings Bank (Postbank)please visit their website: www.postbank.co.ke.Table A.2.Performance evaluation criteria, criteria weights and performancetargets for year 20092008 2009CRITERIA UNITS WGT (%) 2006 2007 Prov TargetsOPERATIONS1) Deposit base Kshs (Billion) 8 10,78 11,539 11,757 15,2922) Customers’ accounts Number (Million) 6 1,090 1,280 1,295 1,5443) Product range Number 5 11 13 18 204) Compliance withthe approved budget % 3 N/A N/A N/A 100%5) Project Implementation:a) Timeliness % 2 100% 100% 100%b) Quality % 1.5 100% 100% 100%c) Relevance % 1.5 100% 100% 100%d) Cost Efficiency % 1.5 100% 100% 100%e) Completion Rates % 1.5 100% 100% 100%SUB-TOTAL 3039 An example for the Operations sections is included below.128
OPERATIONS1. Deposit Base: It was projected to grow by 30.1 percent from a totaldeposit base of Kshs 11,757 billion (provisional) in 2008 to Kshs15,292 billion in 2009. The growth would be driven by:i) Introduction of efficient delivery systemii) Removal of maintenance and ledger feesiii) Development of market led productsiv) Savings/financial literacy educations/campaigns2. Customers’ Accounts: The total number of accounts for 2009will increase by 19.23 percent from 1,295 million to 1,544 million.The growth will be driven by:i) Target marketingii) Removal of maintenance and ledger feesiii) Introduction of efficient delivery systemiv) Savings/financial literacy educations/campaignsv) Creation of business alliances3. Increase in product range: The Bank will introduce 2 new marketdriven products in 2009.4. Compliance with the Approved Budget: The Bank will adhere tothe approved budget.5. Project Implementation: The Bank will identify, appoint, and trainindependent agents in 50 locations to transact its business on anagency basis. The project also entails the installation of 50 Point ofSale (POS) terminals in the appointed locations. The project will costKshs 5 million.129
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BoxesBox 1. German Sparkassen 27Box
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EXECUTIVE SUMMARYBackground and obj
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nnAccess to Finance in enshrined in
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Chart A.Corporate Governance, Acces
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nThe study also shows that Corporat
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1. INTRODUCTION1.1. Focus and objec
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WSBI members are by definition acco
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For the particular case of developi
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2. THE LINK BETWEENCORPORATE GOVERN
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Table 2. Main features of the Missi
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Access to financeSparkassen promote
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All these examples illustrate how p
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In the case of Peru, the profits th
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Among the WSBI institutions that re
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BOX 2. KENYA POST OFFICE SAVINGS BA
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The fact that the banking system is
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3. CORPORATE GOVERNANCE -CONCEPTUAL
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Figure 2. Sound Governance of Finan
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As can be seen in the figure above,
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nnnAt the same time, the distance a
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The first two elements (the ownersh
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nHowever, this does not mean denyin
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Cooperatives are similar to mutuals
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3.4. FoundationsFoundations do not
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3.5. Good Corporate Governance prac
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F. DISCLOSURE AND TRANSPARENCYPrinc
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4. ACCESS TO FINANCE -CONCEPTUAL FR
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4.1. Financial deepening and improv
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The board does not have any executi
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In other words, sustainable financi
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The following table shows how the W
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The fourth dimension refers to the
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Table 8. Access to Finance in the f
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Only 27 members established in 21 c
Page 78 and 79: nnDCI (Depth of credit information
Page 80 and 81: 5.2. Corporate Governance and Acces
Page 82 and 83: 5.2.1. Corporate Governance and Ave
Page 84 and 85: Chart 8.Specific Corporate Governan
Page 86 and 87: 5.2.2. Corporate Governance and Ave
Page 88 and 89: Chart 13. Corporate Governance comp
Page 90 and 91: Chart 16. Corporate Governance Inde
Page 92 and 93: Chart 19. Specific Corporate Govern
Page 95 and 96: ANNEX 1: REVIEW OFTHE LITERATUREThe
Page 97 and 98: Even among the relatively narrow un
Page 99 and 100: Figure A.1. Structure of agents' re
Page 101 and 102: The table captures the essence of s
Page 103 and 104: A case study built by Clarke et al
Page 105 and 106: A very recent contribution to the d
Page 107 and 108: For example, in Latin America, WSBI
Page 109 and 110: The paper examines whether a poor e
Page 111 and 112: For the survival of microfinance in
Page 113 and 114: ANNEX 2: CASE STUDIES 32CASE STUDY
Page 115 and 116: It is one of the major characterist
Page 117 and 118: Although Sparkassen are legally and
Page 119 and 120: Figure A.2. Corporate Loans Market
Page 121 and 122: Financial education is also an impo
Page 123 and 124: Corporate GovernanceKPOSB is wholly
Page 125 and 126: Among the initiatives that the gove
Page 127: Related to the concession of credit
Page 131 and 132: Corporate GovernanceThe Central Ban
Page 133 and 134: To address the problem of capital,
Page 135 and 136: Financial inclusion ranges very hig
Page 137 and 138: CASE STUDY 4:SPANISH SAVINGS BANKS
Page 139 and 140: The uniform financial regulation of
Page 141 and 142: Figure A.3. Governing Bodies - Span
Page 143 and 144: The web-based tool www.rededucacion
Page 145 and 146: On the liability side, CMAC offer m
Page 147 and 148: A specificity of CMAC is that the m
Page 149 and 150: Table A.3.MissionMissionCMAC AREQUI
Page 151 and 152: As of September of 2009, the twelve
Page 153 and 154: Furthermore, the consensus culture
Page 155 and 156: ANNEX 3: QUESTIONNAIREQUESTIONI. Ge
Page 157 and 158: ANNEX 4:THE HONOHAN INDEX 43COMPOSI
Page 159 and 160: COMPOSITE MEASURE OF ACCESS TO FINA
Page 161 and 162: ANNEX 5:QUANTITATIVE RESULTSCountry
Page 163 and 164: Overall Corporate Governance IndexO
Page 165 and 166: REFERENCES- Andrianova, S., Demetri
Page 167 and 168: - FSD Kenya (2009), Financial Secto
Page 169 and 170: - World Bank (2006) The Role of Pos
Page 172: WSBI - ESBG - The Global Voice of S
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