Strategy Meeting Minutes

[Andrew Alovi]

MINUTES TO THE GROUP STRATEGY MEETING HELD ON 26TH JULY 2014 AT JAVA CAPITAL CENTER

Present:

Norman Ondego- Chairman

Andrew Endovo- Secretary

Alfred Maina- Treasurer

Ekelemu Ewomazino- Director

Absent with Apology

Daniel Makau- Director

MIN 1/267/14: MATTERS ARISING FROM PREVIOUS MEETING MINUTES

Diana Mayaka accepted to step in and assist the Group Treasurer in keeping our financial books. Alfred will now draw up clear role sorts indicating what he will handle and the support areas Diana will look after. The P&L accounts for the maize and Chicken investments were still outstanding, these will be expected in a week after this meeting (Action Zino & Alfred).

MIN 2/267/14: TOLA'S MAIN OBJECTIVE

For all intents and purposes, TOLA GROUP LTD was formed by a group of 5 men who are on the quest to attain financial independence for them and their families. With a horizon of 5 years, the members would like to stop depending on employment based salaries, secure a comfortable future for their lineages and in the process positively affect people's lives.

MIN 3/267/14: BUSINESS SCOPE

Going forward, the company will be involved in the following businesses:

• Tenders & Government Procurement Opportunities (General Merchants). This we shall carry out ourselves.
• Real Estate and Housing- open to partnerships
• Agriculture- open to partnerships
• Logistics- open to partnerships
• Financial Lending services- we shall do this ourselves
• Consultancy Services- we shall do ourselves
• Stocks, Bonds & Forex Trade- we shall do ourselves.

MIN 4/267/14: SHORT TERM VENTURES

The meeting resolved to undertake the following ventures in the short term:

• Financial Lending Services- formally begin giving soft loans at a competitive rate to grow interest on our savings. Andrew was asked to draw up a framework to govern this process and submit within a week for review and approval by the group.
• Government Tenders- Alfred was asked to follow through the registration process within a week, or hand over the process to Andrew to follow up with an alternative contact from his office to hasten the process. This will cost the group Ksh 8,000 a spend that was approved.
• Logistics & Petty Errands- the group will invest in the petty errands business through partnering with an existing business that isn't well equipped but has the expertise. Zino was asked to explore this opportunity and in a week come back with a framework that guides us on the cost, revenue projections and controls to prevent leakage on profits.
• Consultancy- Each director is an expert in the field in which they currently operate. Norman and Makau were asked to develop a profile for a consultancy company for the group to be used to pitch for consultancy jobs. This document is expected within two weeks, after which the group shall register a separate subsidiary company that exclusively handles consultancy work.

MIN 5/267/14: LONG TERM PLANS

The Group committed to working towards securing its first parcel of Land in July 2015. We will be raising Ksh 1M towards this through savings and profits from other ventures.

MIN 6/267/14: AOB

• The Group's fiscal year will be 1st Aug to 31st July.
  
• Monthly contributions will go up by 20% meaning members will be expected to contribute Ksh 12,000 every month starting from August 2014
• The group will open up membership in January 2015. We will be selling shares in the company, we therefore need to work on our valuation to know how many shares to offload and at what rate.
• Cash-flow for the next fiscal year will be at a minimum of Ksh 0.25M i.e. at any given point we must have this as the minimum amount as cash in bank.

Regards

Andrew Endovo

Group Secretary

--
A Tiger doesn't lose sleep over the opinion of sheep.

[Norman Ondego]

Very well drawn. Daniel we have a pending deliberable lets meets soon to draw out an information sourcing doc to send to each director for the Initial draft.

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[daniel makau]

IF everyone sends me their CV's i will build the profiles

Attach a photo as well.

Thanks

DMakau

Investment Secretary

:-) hio mambo ya protocol muache!

--
-Feed your faith and your fears will starve to death-

[Norman Ondego]

sawa Baba Approved name change