WHAT IS A BUDGET A budget is a plan that identifies the financial resources required to achieve specific objectives i.e. for an organization or a department. Once constructed, this plan assists staff and board in managing the organization both programmatically and financially throughout the year. It is a key management…

Financial Management involves planning, organizing, directing, controlling and monitoring the financial resources of an entity in order to achieve the overall financial objectives of the organization. It involves putting in place systems and procedures that adequately capture financial information and safeguard organizational resources from misuse and loss, it means applying…

Key Challenges for the NGO Sector in Kenya and Somalia. One of the greatest challenges facing nonprofit organizations (NGOs) in Africa, Particularly Kenya and Somalia, is how to sustain and support NGO activities financially. The primary reasons why NGOs need to find different strategies for long-term survival are: Decreased donor…

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