School of Accountancy Alumni Reunion

As part of the 50th Anniversary Celebrations, the School of Accountancy (SOA) held an alumni reunion cocktail on the evening of Friday 30th September, 2011 at Serena Hotel, Amani room. The activity-packed evening featured presentations by exceptional speakers, interactive activities and entertainment by the Strathmore University Band. The evening offered the alumni an opportunity to reconnect with old friends, make new ones and also learn what’s happening in SOA. The reunion corresponds with the Alumni Office decision to execute reunions that are targeted for specific audiences. The move is intended to provide the alumni with an opportunity for sharing valuable knowledge, skills and experiences. During the occasion, the invitees explored ways to preserve and sustain SU’s traditions by creating a window that will enable the SOA alumni to reconnect with one another as well with the intellectual capital of the University. In addition, they examined comprehensive ways of building a strong alumni database to enhance effectiveness as well as efficiency in alumni’s relations. “The coming together of the alumni broadens opportunities for networking through sharing of current information, family news, in depth life stories besides offering us a precise moment to celebrate our alma mater. Strathmore University has even made it possible for the alumni to access journals in the library,” said Jane Kilonzo, Chair of the organizing commitee. She added that,“Coming together and staying in touch should be our tradition”. The Director of SOA, Mr. Geoffrey Madigu, challenged the alumni to activate their membership, take charge and drive the change that is needed in the society. “There are a lot of activities taking place at Strathmore .From conferences and breakfast meetings facilitated by prominent personalities to incredible performances by our students who need our every support. It’s time that the alumni take their rightful place since it will be futile to organize these events if the intended beneficiaries are out of action” he urged. Accounting beyond Numbers The key note address was delivered by Dr. James Mcfie, Director of Research and Academics in the School of Management and Commerce. The theme of his address was ‘accounting beyond numbers’ and he dwelt on the benefits that the country stands by investing in Business Process Outsourcing (BPO). Dr. McFie revisited an earlier interview he had conducted on NTV’s PM LIVE centering on the Fire Awards noting that every small firm should consider engaging in BPO. “Currently, most of BPO jobs are going to India which has proved it can provide highly skilled cheap labour. There are dangers if we do not strive to match and move with the times since even local companies won’t shy away from outsourcing some of the services if they deem it appropriate,” he said. Dr. McFie is very passionate about BPO and is presently courting some companies to have their work done in Kenya. He also urged the alumni who might have contacts abroad to encourage them to have some of their services done locally. BPO will reduce unemployment levels significantly while contributing to economic growth as envisioned by Vision 2030. He noted that Kenya is churning out about 3000 accountants each year though the economy cannot absorb the number. Dr. McFie’s speech also highlighted the need to keep abreast with international comparisons since this is the only way we can objectively gauge our performance as a country. It will be damning to think that we are the best whereas we are trailing by miles. For instance, though the country has the highest labour costs in East Africa, it’s the least productive. Kenya’s energy costs are also woefully high (4 times that of South Africa) thus rendering the economy to be high cost and inefficient as well as highly uncompetitive. The productivity of the Kenyan workers is also very low comparative given that on average, a German worker is 10 times more productive. “We have to be aware of our potential and we can only ascertain it through comparisons with our peers,” he said. He also urged the policy makers to relook into the tax regime since the high cost of doing business in Kenya is driving investors away. Dr. McFie lauded the organizers of the reunion noting that the link between the academia, industry and government agencies is crucial. He challenged the alumni to emulate what Kenyan athletes are accomplishing on the track-conquering the world. “We have to work well and should also demand others including the government to work equally well.We have to give this country our best. Its potential is amazing!” The alumni also had the chance to chat with Hon. Peter Kenneth, Assistant Minister in the Ministry of Planning and Vision 2030 and MP for Gatanga. Mr. Kenneth is also a presidential aspirant.

Source: SALO (2011-10-07)