This document provides a mid-year evaluation report from Kwame Mugesia, a finance intern at Monsanto in Kenya. The report summarizes Kwame's work over the past year, including budgeting and forecasting activities, preparing financial reports, and participating in community outreach events. Kwame gained experience in financial analysis, budget preparation, and interacting with cost center managers. He makes recommendations to address challenges and hopes to become a business analyst at Monsanto to further contribute to budget analysis and forecasting.

1. MID YEAR EVALUATION REPORT
2016
REPORT PREPARED BY KWAME
MUGESIA FINANCE INTERN BASED IN
KENYA NAIROBI(WESTLAND) SITE.

2. A Financial engineering graduate from Jomo Kenyatta University of Agriculture
and Technology class of 2014, and currently undergoing CPA(Certified Public
Accounts) to enhance my accounting skills. I got the opportunity of a lifetime to
undertake my internship in Finance for one year under the guidance of Fredrick
Kahenya ,Commercial Finance Lead-Africa and Lawrence Bett,Bussiness Analyst.
My area of focus is broad activities in financial analysis ,Forecasting and
Budgeting thus offering the required assistance for bussiness planning and Budget
Control.
Background

3. Objectives
• Summarization of Budget Expenses for FY16.
• Periodical update of forecast Expenses FY 16.
• Preparation of Fy17 Budget Estimates.
• Cost Centers Reports and assessments.
• Other Engagements.

4. Summarization of Budget Expenses for
FY16
• Prepared a simpler template for summarization of all Budget expenses which
include employee compensation, employee services, travel expense, outside
service, depreciation/Amortization, Marketing Expense and other related
expenses incurred for all the Commercial cost centers within the Africa region.
• I got the opportunity to interact with my line manager thus learning more about
Monsanto Africa and regions within it, Business Structure and the various models
within which the business operates thus enhancing my financial growth.
• My assistance to the Bussiness come in hand from preparing the FY16 Budget
Expense in a simpler format from which they could rely on for their analysis and
referencing unlike before where they experienced difficulties in getting the data
from SAP or from my line manager whom at most times was overwhelmed due to
other crucial engagements. Data retrieval was made easier and faster thus making
work for all the cost center managers lighter and user friendly.
• There were challenges at first in preparation of the template due to having limited
expertise in excel but with time with the help of my line manager I managed to
come up with an easier template for Summarization of Budget Expenses.

5. Periodical Update of forecast Expenses
FY 16
• Provided actual spent, forecast and Budget. The actuals I retrieved from smart
view and computated the forecast input through extrapolating the actuals.I also
adjusted the original budget by parity thus reducing spent which the cost center
owners were supposed to adhere to.
• I received training on using smart view in retrieving data equipping me with the
necessary skills in data retrieval and also enhancing my excel skills.
• During the periodical update I made numerous points of interactions with the
various cost center managers where I trained them on how they were supposed to
populate their forecast for their budget expenses. The feedback was positive as
they were able to learn one or two things about Budget analysis. Before then they
experience huge challenges in knowing where they Budget sits, Budget left to be
utilised,thus most of them exhausted their budget before the financial year end.
Through my assistance budget was spent well, tracked better and utilized
efficiently and went along way in generating savings that were allocated to other
cost centers that were in dire need for funding.
• During my point of interaction, most of the cost managers had challenges in
understanding the monthly SG&A summary. I addressed the challenge by taking
them through using web-ex sessions and also involved lawrence in tackling this.

6. Preparation of Fy 17 Budget Estimates
• Engaged the cost center owners to provide their Fy17 Budget Estimates using
projections of FY15&FY16 Budget.
• Through seeking their input inclusivity and team work was achieved as we relied
on their input on budget preparation thus making budget allocations easier.
• I was able to plan for their Fy17 Budget through analysising specific projects to be
undertaken and allocating more funds to the projects that have the required
justification, value added to the business and the overall operational excellence.
• Through the exercise I was able to enhance my skills on Budget Planning and
planning for the long range plan.
• Planning early guides us in utilizing the limited resources efficiently thus cutting
on wastages and eliminating projects that will have no value to the business.
• Working on this project enabled me to provide my line manager with the required
information preparing the fy17 Budget saving him time and money on seeking this
information from the relevant managers.
• The main challenge encountered working on this exercise was slow response from
various cost centers owners. I Informed my line manager on this and he took the
necessary action to mitigate it.

7. Cost Center Reports and Assessments
• Calculated the runrate of travel expenses for the commercial Cost Centers to see
where we can generate savings. I did a report on this and come up with
recommendations on limiting travel expense by first budgeting on it. The idea was
noble and run rate could be used in reducing the overall budget for all the other
related expenses.
• Update of the cost centers and the making the required changes in SAP. Through
monitoring I was able to report any anomalicies in the SAP and reported the same
to the relevant people to effect the changes in the system. By doing this clear
reports that could be relied on for decision making could be achieved.
• Trained on generating daily tracking reports and cost center analysis which is work
in progress. The expertise gained goes along way in filling the gap that could have
risen in cases where my colleagues are not available and reports needs to be
generated.
• The exposure is relevant to my professional as iam able to generate the reports
and come up with various recommendations to be adopted for the growth of
business or change of strategy to make the bussiness efficient and also personal
growth in financial analysis through highlighting the grey areas for necessary
actions to be adopted or recommended.

8. Other Engagements
• Offered assistance to various cost centers managers outside the commercial area
in populating their forecast and understanding the rationale behind it. They had
little expertise in generating their reports, through my help I was able to do their
computations pertaining their reports and also taking them through before
submitting the said reports to their line managers.
• I visited Nakuru Warehouse where I learnt how packaging and storage of seeds is
done impacting my knowledge on that.
• Took the opportunity to attend Bomet Kephis Field Day Training where we
showcased our new DeKalb maize seed variety DK777.I made interactions with
the farmers during the training where I listened to the challenges they are facing
concerning the maize lethal narcosis disease. Monsanto employees on the ground
were able to advise them on the best seed variety to use which is DK777 that is
resistant to mlnd and also high yielding. I acquired the necessary skills in marketing
which can come in hand in the near future.
• Participated in the Community Outreach Project in Mwingi.As a company we got
the opportunity to showcase our various brands in Corn and Vegetable Seeds and
also offered the necessary medical checkup to the locals. Through the exercise I
was able to resonate well with the challenges the locals were experiencing and
how Monsanto Kenya came in to offer some assistance. By doing this we were able
to give back to the community.

9. Nakuru Warehouse
Site visit to Nakuru Warehouse

10. Kephis Farmers Field Day
DK777

11. Community Outreach Project
Project undertaken in Mwingi.

12. Challenges Faced and
Recommendations
• Slow responses from the cost center managers during point of
interactions. I took the necessary steps by informing my line manager to
follow up on this and offer his guidance.
• Unclear transition from internship/graduate trainee to an employee of the
company. Highly recommend for absorption as it is a win win situation for
both the company and intern. Company saves on cost incurred during
training and derives input while the intern improves on his/her career
growth.
• Conveyor Belt System model of graduate trainee. Focus on other
disciplines within the organization as it yields to tapping of individual’s
talents and unlocking them. More areas of learning precipates curiosity
which is healthy and saves on costs in the long run.
• Provision of Commuter allowance on top of our monthly basic pay in
facilitating transport from place of residence to place of work and other
field related activities.

13. Achievements and Expectations
• I became the subject matter in Cost Center analysis budgeting and
forecasting. Focal Point in offering assistance to the various cost
center Managers.
• The model of summarization of Budget Expense of commercial cost
centers can be applied to other areas e.g supply chain as it has been
tested and proven efficiently.
• In the end I aspire to became a business analyst under Monsanto
Africa so as to be able to play a crucial role in budget analysis and
forecasting.
• The influence has been positive during the course of my work
through which I will major in financial analysis or Agri Business to
enhance my skills in financial reporting and making critical decisions
that fosters the growth of the company.

14. Question and Answer Session
• Questions
• Thank you.