Inkunzi yezabelo / Izabelo zamalungu

Inkunzi yezabelo yimali inkampani okanye umbutho wokubambisana eyikhulisayo ngokukhupha izabelo kubanini bayo. Yinkunzi esisigxina, efunxa ilahleko, hayi imali ebolekiweyo. Kumbutho wokonga nokubolekisa (i-SACCO) okanye kwi-credit union, le nkunzi ithatha uhlobo lwe-izabelo zamalungu — sisixa-mali ilungu ngalinye elisibhaliselayo ukuze libe kwaye lihlale lingumnini weziko, sahlukile kulo naluphi na ulondolozo okanye iidiphozithi ezigcinwa lilo.

Amanqaku abalulekileyo

• Inkunzi yezabelo bubutyebi bomnini: ayinasibophelelo sokubuyiselwa, ifunxa iilahleko kuqala, kwaye ibuyiselwa kuphela xa kuthe kwabhangiswa iziko okanye phantsi kwemithetho yokukhululwa engqongqo.
• Kubabolekisi abangoomanyano, izabelo zamalungu zinika ubunini namalungelo okuvota; iidiphozithi nolondolozo azikwenzi oko.
• Izabelo zamalungu zidla ngokuba zingenakurhoxiswa — zinokudluliselwa kwelinye ilungu, kodwa azinakukhutshwa imali ngokulula xa kufunwa.
• Inkunzi yezabelo sisiseko se-nkunzi engundoqo yombolekisi, elisetyenziswa ngabalawuli ukumisela iimfuno eziphantsi zenkunzi kunye nemilinganiselo yokwanela kwenkunzi.
• Phantsi kwe-IFRS, ukuba izabelo zamalungu zibalwa njengobutyebi bomnini okanye njengetyala kuxhomekeke ekubeni iziko lingakwazi na ukwala ukukhululwa — ingongoma yobugcisa eneziphumo ezinkulu kunkunzi exeliweyo.

Yintoni inkunzi yezabelo?

Inkunzi yezabelo yinxalenye yenkxaso-mali yombolekisi enikelwa ngabanini bayo ngenxa yezabelo. Ngokungafaniyo nemboleko okanye idiphozithi, akufuneki ibuyiselwe ngokweshedyuli. Ithatha indawo yokugqibela xa kubhangiswa, emva kwabagcini beediphozithi nabo bonke abanye abatyalwayo, nto leyo eyenza ukuba abalawuli bayithathe njengesikhuselo esikhusela wonke umntu ongaphambi kwayo.

Umthetho weenkampani wahlula amanqanaba aliqela enkunzi yezabelo, kwaye la magama adla ngokusetyenziswa ngokungakhathali:

• Inkunzi yezabelo egunyazisiweyo: Lona xabiso liphezulu lezabelo umgaqo-siseko weziko olivumelayo ukuba likhutshwe.
• Inkunzi yezabelo ekhutshiweyo: Lona xabiso lezabelo ezabelwe abanini zabelo ngokwenene.
• Inkunzi yezabelo ebiziweyo: Lona nxalenye yenkunzi ekhutshiweyo iziko eliye lafuna intlawulo yayo.
• Inkunzi yezabelo ehlawulelweyo: Lona nxalenye efumaneke ngokwenene ngesineko okanye ngezinto — lona nani libalulekileyo kunkunzi yolawulo.

Kumaziko abolekisayo, inkunzi yezabelo ehlawulelweyo lelona nani lisetyenziswayo. Isithembiso sokubhalisa asiyonkunzi de imali ibe sele ingenile.

Izabelo ngokwazo ziza ngeendidi. Izabelo eziqhelekileyo zinamalungelo okuvota kunye nebango eliseleyo kwinzuzo nakwii-asethi. Izabelo ezikhethwayo zinebango lokuqala kwiidividendi, ngokuqhelekileyo ngaphandle kweevoti, kwaye zinokukhululwa — uphawu olunokwenza ukuba zingafaneleki ukubalwa njengowona mgangatho uphezulu wenkunzi yolawulo.

Zintoni izabelo zamalungu?

Kwiziko lezemali lobumbiswano — i-SACCO, i-credit union, okanye ibhanki yobumbiswano — into elingana nenkunzi yezabelo zizabelo zamalungu. Ilungu ngalinye lithenga isabelo esincinci xa lijoyina, kwaye eso sabelo sisenza ukuba libe ngumnini kunokuba libe ngumthengi nje.

Izabelo zamalungu zineempawu ezininzi ezahlula kwizabelo zenkampani eqhelekileyo:

Ilungu elinye, ivoti enye. Ulawulo lwentsebenziswano aluhambelani nobungakanani bezabelo. Ilungu eliphethe ikhulu lezabelo linevoti enye efanayo entlanganisweni kawonke-wonke njengelungu eliphethe enye. Olu luphawu lomgaqo-siseko oluchaza uhlobo lwentsebenziswano.

Ixabiso lobuso, hayi ixabiso lentengiso. Izabelo zamalungu zidla ngokukhutshwa kwaye zibuyiswe ngexabiso elimiselweyo. Azinyuki ngexabiso, kwaye ngokuqhelekileyo akukho marike wesibini kuzo. Imbuyekezo yelungu ivela kwizabelo-zinzuzo ezibhengezwe kwintsalela, hayi kwinzuzo yenkunzi.

Ayirhoxiswa. Le yingongoma ebalulekileyo yokusebenza. Izabelo zamalungu ngokuqhelekileyo azinakurhoxiswa nangaliphi na ixesha njengemali egciniweyo. Ilungu eliphumayo kwiziko ngokuqhelekileyo kufuneka lidlulisele izabelo zalo kwelinye ilungu, okanye lilinde ukuba iziko lizibuyise ngokuxhomekeke kwimithetho yemigaqo nakwimigangatho ephantsi yenkunzi yolawulo. Esi sithintelo sikhona kuba inkunzi enokuthi itsalwe nanini na ayiyonkunzi kwaphela.

Inxulunyaniswe nobulungu. Izabelo ngokuqhelekileyo zinokugcinwa kuphela ngamalungu ahlangabezana neumanyano oluqhelekileyo — umqeshi, umsebenzi, indawo, okanye umbutho — ochazwe kumgaqo-siseko weziko.

Izabelo zamalungu xa kuthelekiswa neediphozithi zamalungu: umahluko obaluleke kakhulu

Ukubhidanisa izabelo nemali egciniweyo kukungaqondi okuqhelekileyo kwezemali zentsebenziswano, kwaye kuneziphumo zokwenene kumalungu nakwiphepha lomncono leziko.

• Ubume: Izabelo zamalungu zimele isabelo sobunini, ngelixa iidiphozithi zamalungu kunye nemali egciniweyo zingamatyala (imali etyalwa ilungu).
• Ubunini nokuvota: Izabelo zamalungu zinika ubunini namalungelo okuvota; iidiphozithi kunye nemali egciniweyo azenzi njalo.
• Ukurhoxiswa: Izabelo zamalungu azirhoxiswa (ngokuqhelekileyo zidluliselwa kuphela okanye zixhomekeke kwiimeko zokubuyiselwa ezisemthethweni), ngelixa iidiphozithi zinokurhoxiswa ngokwemigaqo yemveliso.
• Imbuyekezo: Izabelo zamalungu zifumana izabelo-zinzuzo ezibhengezwe kwintsalela; iidiphozithi zifumana inzala, ngokufuthi ngezinga elimiselweyo okanye ekuvunyelwene ngalo kwangaphambili.
• Ukufunxa ilahleko: Izabelo zamalungu zifunxa ilahleko kuqala, zikhusela abafaki-diphozithi phambi kwazo.
• Ekubhangisweni: Izabelo zamalungu zibekwa ekugqibeleni kwaye zihlawulwa kuphela ukuba kusele imali eyintsalela; abafaki-diphozithi babalwa njengabatyalwayo kwaye bahlawulwa phambi kwabanini-zabelo.
• Ukhuseleko lwediphozithi: Izabelo zamalungu azigutyungelwa zizikim zokukhusela iidiphozithi, ngelixa iidiphozithi zamalungu ezifanelekileyo zigutyungelwa apho izikim zeziqinisekiso zikhoyo.

Uninzi lwee-SACCO lukwasebenzisa iidiphozithi ezingarhoxiswayo, ezimi ngokungaqhelekanga phakathi kwezi zimbini: zitshixiwe njengenkunzi, kodwa ngokomthetho zilityala elibhekiswe kwilungu. Abalawuli baziphatha ngokwahlukileyo kwinkunzi yezabelo xa bebala imilinganiselo yenkunzi, kwaye nababolekisi nabo akufuneki bazidibanise kwiingxelo zabo.

Isiphumo esisebenzayo amalungu ahlala esingena: inkunzi yezabelo ayinasiqinisekiso. Apho kukho ingxowa-mali yokukhusela iidiphozithi, igubungela iidiphozithi ukuya kumda omiselweyo. Ayizigubungeli izabelo, kuba izabelo ziyinkunzi yomngcipheko ngokuyilwa kwazo.

Inkunzi yezabelo kunye nenkunzi yolawulo

Abahloli abayijongi inkunzi yezabelo iyodwa. Bayidibanisa nezinye izinto ezisisigxina, ezifunxa ilahleko ukuya kwi inkunzi engundoqo (ngamanye amaxesha ibizwa ngokuba yiNqanaba 1), kwaye bayilinganise ngokobukhulu nobungozi be-balance sheet.

Inkunzi engundoqo kumbolekisi wentsebenziswano idla ngokubandakanya:

• Izabelo zamalungu ezihlawulwe ngokupheleleyo
• Oovimba abachaziweyo noovimba abasemthethweni
• Iingeniso ezigciniweyo nentsalela engasasazwanga
• Izigranti neminikelo engayi kusetyenziswa ngaphandle kokuba kuthe kwabhangiswa

Umlinganiselo onxulumeneyo nongqongqo ngakumbi ngu inkunzi yeziko — yinxalenye yenkunzi eyakhiwe ngeengeniso ezigciniweyo noovimba abasemthethweni kunokuba yakhiwe ngeentlawulo zobulungu. Ibalulekile kuba izabelo zamalungu zinokuthi, ekuhambeni kwexesha, zibuyiselwe imali njengoko amalungu eshiya, ngelixa inkunzi yeziko isisigxina kwaye yeyeziko ngokwalo kunokuba ibe yeyelungu ngalinye. Abalawuli nabahloli bamashishini entsebenziswano bajonga inkunzi yeziko njengomlinganiselo oyinyaniso ngakumbi wamandla azimeleyo eziko.

Uhlaka lolawulo olungumzekelo

Inkqubo yaseKenya ye ii-SACCO ezithatha iidiphozithi , elawulwa yiSACCO Societies Regulatory Authority (SASRA) phantsi kweSacco Societies Act 2008 nemigaqo yayo, ibonisa indlela ezi ngqikelelo eziguqulela ngayo kwiimfuno ezibophelelayo. I-SACCO enelayisensi ethatha iidiphozithi kufuneka ibambe inkunzi engundoqo encinane ye-KES 10 yezigidi kwaye ihlangabezane nemigangatho yomlinganiselo ebandakanya inkunzi engundoqo ubuncinane eyi-10% yee-asethi zizonke kwaye ubuncinane beyi-8% yeediphozithi zizonke, kunye nemfuno yenkunzi yeziko eyi-8% yee-asethi zizonke nomgangatho ophantsi wokuhlawuleka we-15%. Imigaqo ichaza inkunzi engundoqo ukuba ibandakanye izabelo zamalungu ezihlawulwe ngokupheleleyo, oovimba abachaziweyo, iingeniso ezigciniweyo, izigranti neminikelo, konke oku kungamele kusetyenziswe ngaphandle kokuba kuthe kwabhangiswa. Ukutshintshelwa koovimba abasemthethweni — ngokuqhelekileyo kube ngumlinganiselo osisigxina wentsalela yonyaka, de uvimba ulingane nenkunzi yezabelo — kunyanzelisa ukuqokelelwa kwenkunzi nokuba kukho uxinzelelo lokwabiwa kwenzuzo.

Ii-SACCO ezingathathiyo iidiphozithi phantsi kolwakhiwo olufanayo zijongene nemigangatho ekhaphukhaphu kodwa esacacileyo, kubandakanya umlinganiselo omncinci wenkunzi engundoqo obonakaliswa ngokuthelekisa neidiphozithi ezingenakutsalwa ezigcinwe egameni lamalungu.

Amanani ahluka ngokwendawo yolawulo. Ulwakhiwo — umgangatho ophantsi ongqongqo, kunye nemilinganiselo ngokuthelekisa nee-asethi neidiphozithi, kunye novavanyo olwahlukileyo lwenkunzi yeziko — luphantse lwafana kuyo yonke indawo.

Ukuphathwa kobalo-mali: i-equity okanye ityala?

Lo ngumgibe wobugcisa kwi inkunzi yentsebenziswano, kwaye ubamba amaziko ngexesha lophicotho.

Izabelo zenkampani eziqhelekileyo ziyi-equity ngokungathandabuzekiyo. Izabelo zamalungu azinjalo, kuba amalungu adla ngokuba nelungelo lokucela ukubuyiselwa imali — kwaye ilungelo lokufuna imali ezinkozo luphawu oluphambili lwetyala lezemali phantsi kwe-IAS 32.

IFRIC 2, Izabelo zamaLungu kumaQumrhu oNtsebenziswano kunye neziXhobo eziFanayo, isombulula indlela yokuzihlela. Isimo esiqhelekileyo kukuba izabelo ilungu elinokuthi linyanzelise iziko ukuba lizibuyise zingamatyala. Ziyi-equity kuphela ukuba iziko linelungelo elingenamiqathango lokwala ukubuyiselwa, okanye ukuba umthetho wendawo, umgaqo okanye umqulu wokulawula weziko ngokwalo uyakuthintela ngokungenamiqathango ukubuyiselwa.

Igama elithi " elingenamiqathango linobunzima. Isithintelo esisebenza kuphela xa kuphunyezwa umqathango — umzekelo, umgaqo othintela ukubuyiselwa xa oko kunokophula umgangatho wokuhlawuleka okanye wenkunzi — sinemiqathango, kwaye asifezekisi ukuhlelwa njenge-equity. Isithintelo esinjalo sihlehlisa intlawulo yembopheleleko esele ikho kunokuba sithintele ukubakho kwembopheleleko.

Isithintelo esingenamiqathango sinokuba yinxalenye kunokuba siphelele. Apho imithetho yangaphakathi ithintela ukubuyiselwa ngaphantsi kwenqanaba elichaziweyo lenkunzi yezabelo ehlawulweyo, isixa esikhuselwe nguloo mgangatho siyi-equity kwaye isixa esingaphezulu kwaso lityala, ngaphandle kokuba iziko ngokwalo linelungelo elingenamiqathango lokwala.

Kulandela iziphumo ezibini ezisebenzayo. Okokuqala, ukubhalwa kwemithetho yangaphakathi kumisela ngokuthe ngqo inkunzi exelwayo: igatya lokubuyiselwa elibhalwe kakubi linokuthi lihambise ibhalansi enkulu yezabelo lisuka kwi-equity liye kumatyala ngokukhawuleza. Okwesibini, imbali engaguqukiyo yokufezekisa zonke izicelo zokubuyiselwa ingalenza buthathaka ilungelo lokwala elibangwayo, kuba idala ulindelo olunengqiqo lokuba izicelo ezizayo nazo ziya kufezekiswa.

Kutheni inkunzi yezabelo ibalulekile kumbolekisi

Ukufunxa ilahleko. Ilahleko yemali-mboleko ibetha inkunzi phambi kokuba ibethe abagcini-mali. Isiseko senkunzi esibhityileyo sithetha ukuba ukonakala nje okuncinci kumgangatho wepotfoliyo kunokwenza iziko lingakwazi ukuhlawula amatyala alo.

I-leverage nokukhula. Imilinganiselo yenkunzi ibeka umda wokuba ingakanani incwadi yemali-mboleko ingakhula ngayo. Iziko elikumlinganiselo walo omncinci wenkunzi engundoqo alinako ukwandisa ukubolekisa ngaphandle kokunyusa inkunzi engaphezulu, nokuba imfuno injani.

Ukuzinikela kwamalungu. Ukufuna ukuba amalungu athenge izabelo, kwaye amaxesha amaninzi akhulise ukubanjwa kwawo kwezabelo ekuhambeni kwexesha, kulungelelanisa imidla yababoleki nabanini — kwintsebenziswano ngabantu abafanayo.

Ukufikelela kwinkxaso-mali yangaphandle. Ababolekisi be-wholesale, amaqumrhu aphezulu kunye namaziko ezemali ophuhliso alinganisa ubungozi bawo ngokuchasene ne-equity yomboleki. Inkunzi ebuthathaka inciphisa ukufikelela kwiimali zokubolekisa kwakhona.

Isimo solawulo. Ukungoneli kwenkunzi ngumba oqhelekileyo obangela ukonganyelwa okwandisiweyo, izithintelo ekuthathweni kweediphozithi, ukudityaniswa ngenkani kunye namanyathelo eelayisensi.

Iingxaki eziqhelekileyo ngenkunzi yezabelo zamalungu

Ukukhula kwenkunzi kusilela emva kokukhula kwee-asethi. Eyona nto ixhaphakileyo efunyanwa ngabahloli asikokunqongophala ngokupheleleyo kwenkunzi, koko kukwaphulwa komlinganiselo okubangelwa kukukhula kwee-asethi neediphozithi ngokukhawuleza kunenkunzi — idenomineyitha igqitha inumeretha.

Uxinzelelo lwe-dividend. Amalungu anyula ibhodi, kwaye amalungu afuna iidividend. Ukusasaza intsalela ebekufanele ukuba igcinwe njengenkunzi yeziko kukusilela kolawulo ekulula ukukwenza ngokwezopolitiko kwaye kucotha ukuziveza.

Izabelo ezibekwe njengesibambiso kwiimali-mboleko. Ababolekisi abaninzi bentsebenziswano bavumela izabelo neediphozithi ezingenakutsalwa ukuba zibe sisibambiso sokuboleka kwelungu. Oku kuyindlela efanelekileyo, kodwa kuthetha ukuba ibhalansi enye ngaxeshanye iyinkunzi kunye nesibambiso — kwaye ukuba imali-mboleko iyasilela, inkunzi iyasetyenziswa ukuze ihlawulwe.

Uxinzelelo lokubuyiselwa kwemali xa kuphuma. Apho ubulungu obuninzi obusekelwe kumqeshi buncipha, ukuphuma ngobuninzi kunokubangela izicelo zokubuyiselwa kwemali ezithi zitsale i-liquidity kwaye zinciphise inkunzi. Le yimeko kanye izithintelo zokubuyiselwa kwemali ezikhoyo ukuze zilawule.

Ukugcinwa kweerekhodi. Iirejista zezabelo, ukudluliselwa phakathi kwamalungu, ilungelo le-dividend ngokwexesha lokubamba, kunye nokwahlulwa kweebhalansi zezabelo kwiibhalansi zeediphozithi zonke zifuna ukugcinwa ngokuchanekileyo — iimpazamo apha zivela njengeengxelo zamalungu eziphikisanayo kunye nophicotho-zincwadi olunemiqathango.