Thursday, 26 March 2009

The Minister of Finance, Trevor Manual, summarised in his Budget speech 2009, the consequences of the global economic crisis as experienced everywhere.

“If the balance sheet of a bank shrinks, its capacity to lend is eroded. If its lending is curtailed, businesses and households have to reduce their spending. If demand falls in Birmingham, factories close in Beijing. If production lines in China slow, demand for commodities from Africa dries up. The vegetable shop next to the mine closes, and the drivers of the delivery vehicles are asked to work short time, on half pay, and if the driver cannot pay his mortgage, the bank forecloses on his bond, and the bank writes down its balance sheet again...When a global motor company cuts back on making cars, it cancels its order for catalytic converters. This firm making catalytic converters is not in Detroit or in Shanghai, it is here in the Eastern Cape. The mine producing the platinum that goes into that converter is near Rustenburg. The worker in the factory in Uitenhage and the mine-worker in Rustenburg are now without work. And the woman who runs the little stall selling vegetables outside the mine is making less money each passing week. And their families, all of them, face a future made more precarious by the vagaries of global finance.”

He goes on to say that “low interest rates do not automatically translate into easily available credit. Households remain wary of further debt, and firms that face trading losses are not yet creditworthy”.

He makes it clear that the impact is broad, far reaching and has a ripple effect!

Professor Terblanche, an economist at the University of Stellenbosch recently indicated that in the First Decade of Freedom, economic growth averaged 3% per year, and this improved to 5% per year on average from 2004 to 2007. Incomes and output slowed sharply in the second half of last year, bringing growth for 2008 to about 3.1 per cent.

He thinks that Africa is not doing too badly compared to North America and Europe.  According to the International Monetary Fund's Economic Outlook for 2009, the overall African economy is expected to grow with 6 percent in the coming year.  The US economy, on the other hand, barely comes below the zero percent mark.

Ladies, what are we doing about the economic crisis?  Are we exploiting the conditions or are we just about swimming the economy?

The BWA – Achievements 2008/2009

In recognition of the global economic crisis and its impact on our local economy, the BWA has structured its year calendar to impart skills  and facilitate knowledge and information that will assist you to manage the situation.

We have conducted an effective mentorship programme in the year 2008.  A blue print was created and mentees left with completed business plans that they had presented to Business Partners for feedback - from a financiers perspective.  The learning process was phenomenal.

This year, we aim to focus on existing entrepreneurs and women in corporate using the concept of the virtual board.

The business venture creation seminar series saw the launch of the Businesswomen's Property Forum where you can invest in commercial property from as little as ten thousand Rand.  The forum is currently calling for members and embarking on a learning process of the property market.  This focus on learning is aimed to empower its members and bide the current state of the property market.

The mining consortium, Afrika Imbokodo Holdings (Pty) Ltd. started in the year 2007 and is currently incorporating a Broad based grouping from Vryheid who hold two mining licenses.

Many challenges have been experienced by this consortium. Some of these are:

• Access to updated information from various departments in KZN that regulate the mining sector
• Whilst the DME has a laudable strategy and policy in respect of women in this sector it has not filtered down to an operational level
• The KZN province has not catered for empowering women in their own region, we have found that many of the mines operating in this sector has shareholders that are based in other provinces
• Several applications were made but little support is provided by the department
• The shareholders needed the time to build on each other’s weaknesses and exploit the strengths

Business venture creation seminars will continue in the following sectors:

• Tourism
• Logistics
• Construction

The Winning in the Workplace Project, our project of passion, continues to grow from strength to strength with a sub-committee of dynamic women.  Remember, you can become a member of this and any BWA sub- committee.

This sub-committee has excelled in conceptualising, fund-raising and implementing the annual social responsibility project of the Durban branch – Winning in the Workplace for young women in matric.  They took the project to yet another level in the design, media coverage and fund-raising.  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.

The BWA Committee

I take this opportunity to acknowledge and thank the current committee members:  Ms Margaret Kruger, Ms Nimo Naidoo, Ms Leanne Hughes, Ms Amantha Maharaj, Ms Matjale Matsaung, Ms Nomonde Nobongoza, Ms Lara Boucher, Ms Charmaine Scwenn, Ms Ruth Grantham, representatives from Nedbank, our key sponsors - Ms Aneska Dupont and Ms Patricia Moodley.  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.  You have certainly made your mark in facilitating support and spearheading sub-committees and projects.

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 one year, 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 2009.

Coordinator

We recognise Ms Deidre Stemmet, who has resigned late last year to follow a lucrative career in sales.  We thank her for her commitment and hard work.  Special recognition and welcome goes to our current coordinator, Ms Catherine Stott, who has walked in, grabbed hold of the reins and is already creating her history in the organisation.

Key Sponsor

Special recognition and thanks goes to our key sponsors, Nedbank, especially for the supportive relationships we enjoy in the region.  Aneska, you certainly go the extra mile.  Patricia has only joined us a month ago, we look forward to a productive journey with you.

Membership

We currently enjoy a membership base of two hundred and twenty six members in the Durban Branch and four thousand 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.

Gratitude

I have served the Durban Branch in the position of Chairperson for four years and four months.  This has been the most enlightening, demanding, fulfilling and educational growth journey for me.  The success of the branch can only be attributed to amazing women who, despite being very involved in their highly successful careers in the business and corporate world, try their best to head up their portfolios and sub-committees.  I sincerely thank the past and present committee members for their support during my term of office. We certainly could not have achieved in the branch without your input!  Our growth process and commitment has certainly taken us all on an incredible journey.

I take this opportunity to express sincere and warm gratitude to you, our broader membership who have offered feedback, guidance and praise of the work we do for the empowerment and growth of women.

Sincere gratitude goes out to all the members of the BWA Board, the national president and the executive who have all inspired me deeply.

Thank you to the BWA, the Durban membership and the committee of the Durban branch for this outstanding privilege and opportunity to serve you and grow in the process.   I wish the incoming chairperson, the branch and the national organisation every success in soaring forward in empowering women into the mainstream of the economy.  Keep up the exceptional work!

“Tough times don't last ... Tough People do!”

MS VANEETHA MOODLEY