Abiccy Group is an aggregate of a Consultancy and Microfinance. The consultancy from an accounting, bookkeeping, tax and management advisory services to micro business. The microfinance is enabling access financial services to less privileged communities.
Joined ACCA (The Association of Chartered Certified Accountants)
In November 2000, we had just joined the ACCA (The Association of Chartered Certified Accountants) as a part-time student, in the course of my studies, I starting to develop new reasoning and approaches to handling affairs in life. One of the areas was the needs to do business and do it with certain critical success factors. When I saw that this paradigm was missing within my community. The people I talk to believe in the factors of change. When speaking to close relatives, this was the outcome of facts “too many sole proprietors, many years in business, remain small year in – year out, a shop or business that was down the street ten years ago was no longer there ……..’’.
Our first tablet
So as a Business Mathematics and Accounting Instructor, I started spending my spare time at the shops and businesses in the neighbor with these entrepreneurs to ask them ethically why this phenomena in the industry?. What basically I found was that none of these entrepreneurs consciously plan their operations neither control their activities. Therefore making the right decisions had no point of references. My first tablet was developing a manual of procedures for operations, capacity building in the domain of knowledge and skills for basic bookkeeping, records keeping, and /or tax compliance, since ninety-seven percent of the report card of my ethical questionnaires showed that even off-licences or beer bars, provision stores etc.., could not present the purchase invoices or receipts of their recent last five purchases.
Drivers of the consultancy unit.
These were the drivers of the consultancy unit. In a few years after, I started questioning their sources of funds for working capital for these sole proprietors. This becomes most of the time the topic of our evening discussions. I found out that access to finance was in deed a serious barrier for growth and expansion of their business dreams, because they could not satisfied the requirement of the high street commercial banks, such as providing collaterals, running a business account, providing financial statements for the<br /> last three years, or paying an auditor to prepare and present such a document for lending. T
Providing the Remedy
Then a micro finance starts emerging, the immediate option of remedy was how members can mobilize funds from their petty sales and create a structure that can redistribute to members in a form of a non-interest bearing loan and to manage it sustainable in the long run. From this point, I created a saving and loan cooperative society and started expanding to farmers groups and other income generating groups to attract members with contributions, to pay administrative costs. For a few years after, this could not run an office successfully; we then introduced grant writing and solicitation for support
Today, we can all read of ABICCY GROUP; ABICCY (ABA International Consultancy) and ABICCY Finance Saving and Loans Cooperative Society Limited.