A REPORT OF THE INDUSTRIAL ATTACHMENT AT PLATINUM CREDIT LIMITED FROM 5 TH JUNE TO 28TH

JULY 2023 AND SUBMITTED TO THE SCHOOL OF PROFESSIONAL PROGRAMMES, KCA UNIVERSITY.

BY

MILLICENT WANGUI MACHARIA

REG. NUMBER: 21/05742

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DIPLOMA IN BANKING

SUBMITTED TO KCA UNIVERSITY.

SEPTEMBER 2023
DECLARATION.

DECLARATION BY STUDENT

I hereby declare that all the information in this document has been obtained and presented in
accordance with academic rules and ethical conduct. I also declare that, as required by these rules and
conduct, I have fully written this report based on truth and cited all activities and duties that I undertook
while on attachment. I therefore declare that this material is original.

NAME: MILLICENT WANGUI MACHARIA

REG.NUMBER: 21/05742

SIGNATURE…………………………………… DATE…………………………….

DECLARATION BY SUPERVISOR

This industrial attachment has been submitted with my approval as the university supervisor.

NAME: JOHN OYARO

SIGN…………………………………………… DATE………………………………….

DECLARATION BY COMPANY SUPERVISOR

This industrial attachment report has been submitted with my approval as the organization supervisor.

NAME: CAROLINE MURAGURI

SIGN…………………………………………….. DATE………………………………..
ABSTRCT

The purpose of this report is to provide the details of the intuition of attachment, a description of all the
activities undertaken during the same, the lesson learnt and challenges during the attachment period.
The essence of attachment is to put all the theoretical work done in class by a student into practical
exercise.

I was therefore attached at Platinum Credit Limited for a period of eight weeks. The major activities I
carried out include processing loans and keying documents in the system and also on how to manage
clients.
DEDICATION

I want to dedicate this work to my family for supporting me throughout my study.

May God bless them.

ACKNOWLEDGEMENTS

The development of this report took the effort, support and guidance of a number of people whom I
wish to thank. I also wish to pay my tribute to the management and staff of Platinum Credit Limited for
offering me a chance to be part of them and for their unwavering support. I wish to give gratitude to my
academic supervisor Mr. John Oyaro for his efforts to assess me and advise me on how to improve my
skills.

I also thank my family for their support and prayers not only during my attachment period but
throughout my course. I cannot end this list without paying tribute to the entire KCA University
department of professional programme for their constructive training and knowledge they have
imparted in me throughout the one and half years training. May God bless you all.
INDUSTRIAL ATTACHMENT OBJECTIVES

Some of the important objectives of the industrial attachment are as follows.

 To assess the interest of the student in the occupation she plans to undertake.
 To expose the students to work methods not taught in the university and to provide access to
products equipment not normally available in the environment of the university.
 To provide the student with an opportunity to apply knowledge in real work situation thereby
closing the gap between university work and actual practice.
 To make the transition from school to the world of work smoothly and to enhance student
contacts for job placement.
 To enlist and strengthen employers involvement in institutional activities and in the entire
educational process of preparing the students for employment in industry.
 To enhance industry’s satisfaction with the graduate of the faculty in particular and the
university at large.
TABLE OF CONTENTS

CONTENTS

INDUSTRIAL ATTACHMENT REPORT ON DIPLOMA IN BANKING…………………………………………………………i

DECLARATION…………………………………………………………………………………………………………………………………….ii

ABSTRACT………………………………………………………………………………………………………………………………………….iii

DEDICATION………………………………………………………………………………………………………………………………………..iv

ACKNOWLEDGEMENT…………………………………………………………………………………………………………………………..v

INDUSTRIAL ATTACHMENT OJECTIVES…………………………………………………………………………………………………vi

TABLE OF CONTENTS

CHAPTER ONE: INTRODUCTION……………………………………………………………………………………………………………..1

1.1 History of the organization………………………………………………………………………………………………………………1

1.2 The mission and vision and core values of the organization…………………………………………………………..2

1.3 The organizational structure……………………………………………………………………………………………………………3

CHAPTER TWO: ……………………………………………………………………………………………………………………………………..6

ATTACHMENT EXPERIENCE………………………………………………………………………………………………………………………6

2.1 Introduction………………………………………………………………………………………………………………………………………6

2.2 Activities undertaken…………………………………………………………………………………………………………………………7

2.3 Skills acquired and learnt…………………………………………………………………………………………………………………..8

CHAPTER THREE: ……………………………………………………………………………………………………………………………………9

CHALLENGES,CONCLUSION AND RECOMMENDATION………………………………………………………………………….9

3.1 Introduction……………………………………………………………………………………………………………………………………9

3.2 SWOT analysis of the organization……………………………………………………………………………………………………9

3.3 challenges………………………………………………………………………………………………………………………………………10

3.4 conclusion……………………………………………………………………………………………………………………………………..11

3.5 recommendation…………………………………………………………………………………………………………………………..13

3.6 Reference………………………………………………………………………………………………………………………………………..14
CHAPTER ONE: INTRODUCTION

1.1 History of the organization

Platinum credit limited is an international micro-finance company licensed in Kenya under the
company’s act. Platinum credit was founded in 2003 with a vision to provide emergency loans to
civil servants, TSC members and employees of selected companies. It delivers these funds in just 24
hours with efficient customer services.
The company has grown over the years from just 25000 to over 4 Billion. It has also grown from one
branch to over 100 branches. It has also moved into neighboring countries Uganda and Tanzania and
diversified its products to include non-check off loans and asset financing among others.
Platinum credit ltd is owned 52% by sky bound capital and also by international investors from South
Africa as well as Kenyan investors.
The directors are: engineer Isaac Wanjohi, Ignatius Obara, Mary Ngige, Brett Slevwright, Wayne
Baratt and Sky bound Capital.

1.2 Mission, Vision and Core Values of the Organization.

Mission

The company mission is to achieve and maintain market share leadership in the provision of emergency
loans to qualifying employed men and women in Eastern Africa.

Vision

The company vision is to be a respected world class micro-finance organization driven by passionate and
committed teams who deliver satisfaction to our customers.

Core Values

1. Self-Responsibility
2. Trust
3. Team Work
4. Innovation

1.3 The Organizational Structure

The Platinum Credit Limited is organized into hierarchy with top, middle and operational management.
The company has various departments that assist in the delivery of quality services to its clients.

Human Resource Department

This department carries the recruitment, rewards management, learning and development, employee
communication and administration.
Credit Department

Credit Department ensures that the company has enough facility to lend out, and also ensures that the
company does not incur any loses.

Information Technology Department

This department is responsible for all technological issues within the organization and as well as ensure
the smooth running of service needed by the workers and staff respectively.

Sales Department

This department is responsible for the image maintenance of the institution where they ensure the
company has a good representation.

Collection Department

This department is responsible for enquiring and collecting of loans from client.

Operations Department

The operation department is where they monitor all the organization operations and if they are carried
in the right manner.

Customer Service Department

This department deals with the needs of their customers and come up with a way of how those needs
should be addressed.

Finance Department

This department involves financial policy and management including cash management, financial
accounting, system and budgetary control. It also deals with controlling of cash around the organization.

Legal Department

This department is in charge of all legal activities of the company and responsible for presenting the
organization in court issue.

Compliance/Risk Department

This department is responsible to prevent any problems that may arise in the company and also put the
correct measures.

Board of Directors

It comprises of a well-diversified team of qualified professionals in the Kenya business sector, Platinum
Credit has a strong board of directors is composed of:
  Brett Sievwright (Chief executive officer and co- founder)
 Isaac Wanjohi (Chairman)
 Ignatius Obara (Director)
 Bento Omuli (Head of Finance)

They ensure the highest standards of Corporate Governance are followed.

DEPARTMENT ATTACHED

During my industrial attachment I was in the sales department. This department is responsible for the
image maintenance of the institution where they ensure the company has a good representation.

It deals with finding the right customers for the products and explaining to them concerning the same.

The duties of the sale department are to ensure;

i. To retain customers.
ii. Build customer relationship.
iii. Explain the product and services of the company.
iv. It also analyses the customer needs.
CHAPTER 2: ATTACHMENT EXPERIENCE

2:1 Introduction

This chapter explains the general overview of activities undertaken, the knowledge learnt, the skills and
competence gained during my industrial attachment period.

2:2 Activities Undertaken

During my 8 weeks period in the organization I was able to participate in activities such as:

 Training the new members on the products offered by the company.

 Going to marketing to search for clients.
 Collecting and analyzing client’s data into the system.
 Managing and doing follow-up on previous client.
 Offering financial advice to some of our clients.
 Analyzing the amount of money one can qualify for.
 Printing of loan forms.
 To bar code the loan.

2:3 Skills acquired and learnt

 Being professional when handling clients.

 Good communication skills and personal skills.
 Important team work in work place.
 To work in all situation be it under minimal supervision.
 Skills on how to best manage clients.
CHAPTER THREE: CHALLENGES, CONCLUSION AD RECOMMENDATION

3:1 introduction

This chapter discusses the SWOT analysis of the company and the challenges experienced during my
attachment period.

3:2 SWOT Analysis of the Company

Strengths

i. Some of the strengths of the company are;

ii. Strong brand portfolio
iii. Strong distribution network
iv. Reliable suppliers.
v. Successful track record of integrating complimentary firms through merges and acquisition.

Weakness

i. Days inventory is high compare to the competitors.

ii. Need more investment in new technologies.
iii. The company has not being able to tackle the challenges present by the new errands in the
segment and has lost small market share.
iv. High attrition rate in work force.

Opportunities

i. New customers from online channel.

ii. The new taxation policy can significantly impact the way of doing business and can open new
opportunity for established players.
iii. The economic uptick and increase in customer spending after years of recession and slow
growth rate in the industry helps to capture new customers and increase market share.
iv. The new technology provides an opportunity for the company to practice differentiated pricing
strategy in the new market.

Threats

i. The changing n consumer buying behavior from online channel could be a threat to the existing
physical infrastructure.
ii. New technology developed by the competitor could be a serious threat to the industry.
iii. Rising pay level and increasing prices can lead to a serious pressure on profitability of the
company.
iv. Rising raw materials can pose a threat to the company profitability.
3:3 Challenges Encountered

i. Balancing the work life balance.

ii. How to convince clients to loan with platinum credit over other companies.
iii. Managing of clients in case of fall in the company’s systems.

3:4 Conclusion

Based on the above report, at first the attachment period was not enjoyable since I had to familiarize
with both work mates and the working environment.as time went y it turned out to be very fruitful ,I
gained experience and skills which is required in banking. I was able to familiarize myself with new ideas
and aspects in the organization and now I will be able to balance between theories I learnt at school
with the practical experience that I gained in the organization.

I have also been transformed personally by the challenges that I faced during my time in attachment and
am able to critically analyze situations and make rational decisions. I am now capable of being a leader
and this is acquired through being accountable in some tasks which the management delegated to me.

The background, vision, mission and values of Platinum Credit Limited have been explored in great
detail. It takes upon itself to do its best in environment and in its social responsibility endeavors in its
day to day operation.

3:5 Recommendation

What I would recommend the organization to change is:

I. To work on their systems so as the loans should not take more than 24hrs for them to be paid.
II. For them to allow the interns to at least work in different categories so as one can be well
equipped.
III. The school should also increase the attachment period so that one could gain more experience.

3:6 Reference

http://www.platinumcrdit.co.ke