National Medical Stores has in its establishment, a fully-fledged department of Finance and Accounts headed by Edith Kakuba responsible for the following critical functions:

To execute the above functions, the Head of Finance works closely with a team of accounting staff which prides in excellence and professionalism, and which is continuously striving to achieve high levels of discipline, integrity and commitment to quality service delivery.

In recognition of this guest for efficient service delivery, NMS management has in place a fully integrated accounting information system linking all the functional departments in the corporation. There is no doubt that this computerized information system enhances our inter-departmental co-ordinator and has tremendously improved the efficiency and effectiveness of our service delivery. Customer billing, customer statements stocking and decisions and many other management decisions are all promptly and accurately taken in an informed manner, avoiding unnecessary bureaucracy an and without exposing the corporation to control risks.

In attempting to meet the varied service requirements of our clientele, management operated a credit policy across the board. Unfortunately, due to unavoidable circumstances this liberal credit policy was suspended with effect from 1st September 2001. Our esteemed customers are henceforth required to come with either cash, bank drafts or crossed cheques before delivery of drugs can be made. We wish to thank you for your appreciation of the change in policy as evidenced by continued business with us. Management wishes to report that our sales levels have not been significantly affected by this change, although our esteemed customers have been inconvenienced in one or the other. We wish to assure you of management's sensitivity to the operational problems being faced and we are promptly responding to them. 

Plans are underway to implement a 30-day credit policy with reliable established customers. It is against this premise that the corporation is soon embracing electronic banking services in collaboration with Standard Chartered Bank to improve our services delivery even further. Once implemented, the corporation will operate several correspondence bank accounts spread countrywide to act as collection centers. Under this modern system, payments from customers can be deposited at the nearest bank using specially designed Standard Charted banking slips and such bankings shall be notified to NMS electronically by Standard Charted Bank. 

There are several advantages to be gained from this system and these shall be explained to our customers when all the modalities have been finalized. However, suffice it to note that electronic banking will have the effect of reducing the risks and costs of carrying money to NMS at the time of picking the drugs. It will also reduce the time between receiving the order, effecting payment and taking delivery of goods. We are confident that this service will enhance our customer value chain. In addition, efforts are underway to computerize our warehouses by using bar-coding systems. Such a system will definitely reduce the time a customer's inquiry is serviced at the point-of-sale in addition to efficient stock control. 


NMS, being a government corporation is audited by the Auditor General through a M/S Jasper-Semu & Associates, a re-known firm of Certified Public Accountants. Through the tireless efforts of this firm, the Corporation has audited accounts as recent as 2000/2001 financial year. The audited accounts show a consistent growth in the net worth of the Corporation rising from Ushs. 12.9 Billion in 1994/95 to Ushs. 15.6Billion in 2000/2001. This is solid capital base by any standard Management is exploiting this formidable base profitably to the benefit of all stakeholders. Our list of esteemed suppliers is ever growing due to our prudent and commercially acceptable policies towards our suppliers let along our ability to stock quality products at competing prices. 

As the adage goes, "Finance is the life blood of businesses" management is more than committed to ensuring sound financial management to the benefit of all partners in development.

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Contact: ekakuba@natmedstores.org