28 February 2008

A welcome announcement on the establishment of a Women’s Fund was made on the 18th of February 2008 by the Deputy President, Phumzile Mlambo-Ngcuka.  The Isivande (a Zulu word for “garden”) Women’s Fund came into being as a result of a study conducted by the Gender and Women Economic Empowerment unit of the DTI, International Finance Corporation and FinMark in 2006.  The study focussed on women’s access to finance in South Africa.  Certainly not surprising to us, the study found that limited access to finance by women inhibit the establishment, growth, sustainability and profitability of women’s enterprises.  The Isivande Women’s Fund aims to accelerate economic empowerment by providing more affordable, usable and responsive finance.  The fund will pursue deals involving start-up funding, business expansions, business rehabilitations and turnarounds, by providing loans that range from R 30000.00 to R2 million per business with a maximum loan repayment period of five years.  Old Mutual Masisizane Fund will co-fund each loan on a rand for rand basis and also provide free financial education to the clients.

Despite the minimum capitalisation of this fund of some R100 million, there is no longer just a flicker of hope but positively thinking, “the beginning of a bonfire”.  With these baby steps, focussed on accessing finance to black women at the bottom of the economic ladder, high potential survivalists, micro enterprises and cooperatives, professionals (skilled women with feasible business ideas) and women entrepreneurs, the fund claims to be showing the market that it is responsive to the needs of women.  We do however, still have a long way to go – let us not forget that high achieving business women also need support – financial and non financial.  We do have to remember “there is no one giant step that does it.  It takes a lot of little steps”.

In recognition of all of this and your consistent call for support, we have decided that the theme for the Durban Branch this year, 2008, is Mentoring for success.  We have finally launched the long awaited Mentorship project.  Members and Guests, as all successful projects do, the intervention will commence with a pilot project focusing on business start-up.  A concept paper has just been released and you can access this from our website early next week.  The focus on business start-up is due to the requests we have received from the membership.  A call for mentors will go out shortly and we look forward to both the mentors and mentees benefiting from the experience.

Members and guests, various business venture creation initiatives were successfully implemented with astounding outcomes during the course of the year 2007.  The theme for the year was Business venture creation, a theme that will certainly live on for many years to come for very obvious reasons.

To this effect:

• Seminars were conducted by key individuals and parastatals with a focus on demystifying associated concepts, access to government projects focussed on women and economic growth and insights into how the economic playing fields are being levelled.�
• Ms Pria Hassan, the Executive Director of Women of Africa Pty Ltd., presented her experience in Business Ventures in the mining of Copper Ore in Zambia and the DRC and Property Development in South Africa. This seminar resulted in the birth of Afrika Imbokodo Holdings (Pty) Ltd., a company focussing on mining and currently negotiating business ventures in coal and granite mining. Certainly a milestone for the BWA!
• Nimo Naidoo of Business Partners hosted a seminar on their products and services designed to support business ventures.

The year 2007 has been exciting yet challenging.  Running a non profit organistion dependent on membership and funding in a competitive and dynamic economic environment is always an exciting challenge. These challenges can never be called exciting without the active and dedicated participation of the committee.  I take this opportunity to acknowledge and thank the current committee members:  Ms Margaret Kruger, Ms Nazira Osman, Ms Amantha Maharaj, Ms Ruth Grantham, Ms Khosi Younis, Ms Zama Phakati, representatives from Nedbank, our key sponsors - Ms Aneska Dupont and Ms Desiree Naidoo.  Sincere and heartfelt gratitude goes to each and every one of you for your contribution over the last year.  You do this despite the demands of your own business, career and family.  On behalf of the BWA, I thank you sincerely.  It is this commitment, passion for the economic empowerment of women, input and balance that contributes to the successful and dynamic women you are.  I take the opportunity to welcome to the committee Ms Nimo Naidoo of Business partners (certainly no stranger to the BWA for she also served on the committee for a number of years) and Ms Farzanah Mall of PWC.  A very warm welcome to you.  You have already made your mark in facilitating support and spearheading special projects.

I also take this opportunity to recognise the members of the Winning in the Workplace Sub-Committee.  This sub-committee had excelled in conceptualising, fundraising and implementing the annual social responsibility project of the Durban branch – Winning in the Workplace for girls in matric.  They took the project to yet another level in the design, media coverage and fundraising.  Each of the ten essay winners received with other special gifts, computers and laptops.  The impact of the quality of speakers, prizes and gifts, venue and professionalism made this event stand out.  Thank you to the BWA members, committee members, past and present winners and finalists of the RBAA, for the generous contributions that made a difference in the lives of the deserving young future leaders of tomorrow.

We recognise Ms Paula Heath, the branch coordinator, who has resigned late last year to follow a lucrative career of her dreams.  We thank her for her commitment and hard work.  We wish her every success in her new career. Special recognition and welcome goes to our current coordinator, Ms Deidre Stemmet, who has walked in, grabbed hold of the reins and has already made a significant mark.�

Special Recognition and thanks goes to our key sponsors, Nedbank, especially for the supportive relationships we enjoy in the region.  Aneska and Desiree, you certainly go the extra mile.

Membership

We currently enjoy a membership base of two hundred and twenty three members in the Durban Branch and three thousand nine hundred and sixty three members nationally. The vision is to create a broad diversity of members representative of the South African population and business sectors.  This has been successfully achieved and will continually be the focus.  We would prefer that our membership actively contributes to the years calendar by indicating their needs. We will be facilitating a process to achieve this

The Organisation

The purpose of the BWA is to provide a platform for discussion, debate and information sharing on topical issues and the economy, to foster network linkages (individuals, corporates sector and government), recognise and acknowledge high achieving women in the business, professional and corporate sectors and to motivate and mentor women in business.

At a national level, the executive team are working extremely hard to ensure that BWA remains competitive and appealing to its members.  We have engaged a team of consultants to design a membership card and negotiate relationships with big business to secure special rates and discounts for members.  To date, we have secured a relationship with Imperial Car Hire who will extend a discount of 15 % on all vehicles hired by members.  The list is sure to grow.

You, the member can now advertise on the national database at a fee.  Peruse the website for details and costs.

The BWA boasts a national circle of champions comprising of the founders, long standing members, winners of the national and regional awards and friends.  The national office is currently structuring a distance mentoring approach so that the members can benefit from the rich experience, knowledge and wisdom of women gained over many decades.

The Branch has an exciting calendar for the year 2008 and we look forward to adding more value to it with your participation.

A strategic alliance with the Graduate School of Business (University of Kwa-Zulu Natal) was facilitated by a member of the committee, Ms Nazira Osman.  We bring to you a national conference with international speakers from the SAIBAC Countries – ie. South Africa, India, Brazil, Africa and China.  The purpose of the conference is to combine the theoretical and practical and bring to you opportunities available in the SAIBAC Countries, tips and local wisdom on how to transact with these countries.  This two day conference scheduled for the 10th and 11th of July 2008 promises to be a dynamic and mind shifting experience with a networking cocktail party on the evening of the 10th and a business to business matching process on the afternoon of the 11th.  The call for papers has been released and a programme will be available through a website shortly.  We look forward to hosting you at the conference.

Business venture creation seminars will continue in the following sectors:

• Property Development
• Logistics
• Construction
• Tourism

If you are interested in becoming part of a consortium, or establish a company with other dynamic women entrepreneurs in any one of the above sectors, then you need to ensure that you attend the relevant seminar.  This is where it happens!  Remember members, we create the platform, provide the information and highlight the opportunity – it is your responsibility to cease the opportunity!  “Success is achieved when preparation meets opportunity”.

The organisation constantly looks for members who can serve on the branch committee to take the organisation to new heights.  If you have been a member for more than two years, have the time to commit, and focussed on assisting the organisation achieve its mission, we look forward to your contribution on the committee for the year 2008.

I take this opportunity to thank you, the membership of the BWA Durban Branch for your continued support.

Remember to live daringly, boldly, fearlessly …Embrace the challenges, so that you may feel the exhilaration of victory!

MS VANEETHA MOODLEY