8 May 2009
Nedbank Auditorium, 135 Rivonia Road, Sandton

Welcome

Vice President of the BWA, Ferose Oaten welcomed:

• BWA Members Present
• Branch Chairpersons

Apologies

• Wawa Damane
• Thandi Ndlovu
• Kunyalala Maphisa
• Bea Hackula
• Tania Slabbert

Notice of Meeting

Notice of the AGM was sent out 21 days prior to the meeting as per the constitution.

Establishment of Voting Strength

Ferose Oaten confirmed that there were 70 members confirmed to attend and that there were 101 proxies available for inspection if required.
 
There were 1 802 paid up members for the BWA as at the date of the AGM, thus requiring 100 proxies / members attending in total, to make a quorum.

Approval of Minutes of AGM Held 1 April 2008

No corrections or amendments were submitted. A motion was called to clarify that the minutes are a true reflection of the previous AGM.

President's Report

Review of the Year

It has been a rather eventful year to say the least, with its fair share of highs and lows for BWA. It is thus my singular privilege, pleasure and honour to report on the activities of BWA for the period under review.

Women in Leadership Census

The Census looks at the strides that have been made (or not) in terms of the upward mobility of women in leadership. The BWA Women in Leadership Census measures, in real terms, the mobility of women in leadership positions in both listed companies and the public sector and strives to provide some critical input with regards to the trends.

Historically, the Census has confined its research to women in leadership positions of listed companies. However, as part of our efforts to continue to showcase the mobility of women across the spectrum of leadership we have expanded the census to include women in positions of authority within government. This allows us not only to make comparisons between the private and public sectors, but also allows us to gauge the true extent of government’s commitment to gender equality and to make government accountable in this regard. Further, it allows us to begin to tackle the concern that women in corporate leadership within the private sector are still lagging way behind that of government.

This year’s Census was a great success, with an illustrious panel that included Minister of Trade & Industry Mr Mandisi Mpahlwa. Thanks to our sponsors Nedbank in association with Gauteng Enterprise Propeller.

Please click here for information on the publicity report to date.

BWOYA

The Businesswomen of the Year Award 2008 ushered in two phenomenal winners in Ms Mardia van der Walt-Korsten, winner in the Corporate category and Ms Chichi Maponya, the Entrepreneur category winner. The two captains of industry have been remarkable women to work with. We have traveled the length and breadth of the country on the BWOYA Roadshow, and have met equally inspiring women who challenging the status quo and are making a tangible difference in the communities.

This event most unfortunately ran at loss. An integral part of the Businesswoman of the Year Awards is the BWA Bursary Fund which is funded by the sale of tickets for this event. The Bursary Fund assists female students wishing to pursue post-graduate studies at any tertiary institution in the country. This was due to some financial mismanagement, including lack of prudence on engaging service providers without due process being followed.

A task team for BWOYA 2009 headed up the supremely abled by Ms Maphisa will be responsible for the entire BWOYA event for this year. This being the 30th BWOYA, we aim to make it truly memorable. You can play your part by nominating a phenomenal woman.

Suspension and Dismissal of Former CEO - Yvette Montalbano

Around the time of NBAA and BWOYA, some irregularities became evident in terms of invoices that I began asking pertinent questions about invoices and when satisfactory responses were not forthcoming, I investigated the matter further and discovered fraud had been committed by the CEO. This included having to have Ms Montalbano arrested for theft of the BWA laptop, which was later returned. At this time the former CEO was put on suspension.

An intensive and thorough audit ensued, which let to the dismissal of the former CEO.  I laid a charge of fraud at the Hillbrow police station, subsequent to the audit.

Documentation of the charge sheet, enquiry including the verdict from the hearing, which Ms Montalbano did not attend, is available for your perusal.

Appointment of New CEO

We have posted an invitation on the website to call for applications for this post. This process is well under way and is being driven by our formidable Vice President Ms Ferose Oaten, together with a task team that has been appointed to manage this process. Ferose will give feedback on where we are at with that process. We are hoping to be able appoint a suitable candidate over the next 10days, who will hopefully start either in June or July.

In the interim we had enlisted the services of Ms Joyce Sudarkasa, Chair of the Soweto Branch as caretaker in a capacity of Executive Director, overseeing the effective running of the Head Office, amongst other responsibilities. This engagement of service has lapsed as at 30 April 2009. The BWA Board wishes to extend a word of gratitude for Joyce’s efforts, contribution and invaluable role she played at BWA over the last few months.

Until the appointment of the CEO, Head Office will be managed by our diligent COO Ms Puseletso Lukele, with the help of our dedicated Executive Coordinator Ms Busi Mkhabela.

Sponsorship for 2010 and Beyond

We embarked on an aggressive sponsorship drive to not only clear the deficit of 2008, but to bring in additional revenue streams that will help capacitate BWA at Head Office and Branch level.

Part of that sponsorship drive includes a golf day that will help with our fundraising initiatives.

A sponsorship task team headed up by the incredibly competent and dedicated BWA Board member Ms Kunyalala Maphisa is well poised to raise the very much needed funds.

Nedbank Sponsorship

BWA has enjoyed a great association with Nedbank over the years. Our current sponsorship is up for renewal this year, December 2009, and we have started talking to Nedbank to be our financial services partner into 2010 and beyond.

A big thank you to Mr Tom Boardman for his unwavering support during his tenure, thank you for putting the empowerment of women top of the Nedbank agenda, and for availing the wonderful staff members who work on this portfolio.

We wish you well on your new path.

Finances

The Treasurer’s report contains our financials. Ms Celeste Frisby who has served BWA with great distinction will present the financials. Thank you to Ms Elizabeth Schwellnus, our bookkeeper who works very closely with Celeste.

Nominations

A call for nominations for the Businesswomen of the Year Award is out, so make sure you nominate someone who is trailblazing in their own right. The closing date for the nominations is Sunday, 31 May 2009.

BWA Board

The Board consists of the following women:

• Basetsana Kumalo - President
• Ferose Oaten - Vice President and Chair CT
• Celeste Frisby - Treasurer
• Kunyalala Maphisa - Board Member
• Thandi Ndlovu - Board Member
• Wawa Damane - Board Member
• Tania Slabbert - Board Member
• Jane Stevenson - Board Member
• Bea Hackula - Chair East London
• Betsy Ings - Chair PE
• Joyce Sudarkasa - Chair Soweto
• Vani Moodley - Chair Durban (outgoing)
• Dezray Naidoo - Chair Zululand
• Shelley Childs - Chair Tshwane (outgoing)
• Clara Priester - Chair JHB
• Rahema Isa - Chair Tshwane (New)
• Nelly Dasheka - Chair Bloemfontein (New)
• Susan Abro - Chair Durban (New)

Shelly Childs has resigned due to various reasons. Thank you ever so much for your contributions to BWA, the work you have put in is duly appreciated.

Welcome to Rehema Isa, who takes over from Shelly, we look forward to working with you.

Vani Moodley’s term has come to an end, on behalf of BWA Vani our most sincere thanks for your commitment, dedication, passion and diligence within which you have served BWA. It has been a pleasure to work with you.

Welcome to Susan Abro, who takes over from Vani, it’s great to have you on board and we look forward to working with you.

Vasoula Patrinos term also came to an end and Nelly Dasheka took over.

A special warm welcome to the BWA Company Secretary Ms Manini Nyoni. The BWA is most delighted to have a woman of your caliber on board. We look forward to tapping into your knowledge base, as we all strive to make BWA an awe inspiring organisation.

I would like to thank the entire BWA Board whose leadership, strategic input and direction has seen us traverse through difficult times in the last year.

The Head Office team, you are amazing!

The Membership of BWA, this is your organisation and we are here to serve you and to jointly as a united force, continue to make a difference in the lives of women in our country.

Thank You
Basetsana Kumalo

Treasurer's Report

It is a pleasure to present the Association’s annual financial report together with the audited financials statements for the year ended December 31, 2008.

The salient features of the past financial year being as follows:

The Association received a total income for the year of R3, 914,015 a decrease of 7% on the previous year. Expenditure rose by 14% on the previous year closing on R4, 976,065 with the Association incurring a loss of R1, 062,050 and an accumulated deficit of R704, 646.

The income received by the Association was derived from:

• The much appreciated primary sponsorship from Nedbank Limited;
• Corporate and Individual membership subscriptions;
• Head Office and Branch networking functions and workshops.

Expenditure as follows:

• Administrative expenses with the bulk being allocated to salaries, the Census, The Business Women of the Year Award, rental and telephone expenditure as well as meeting costs.
• An amount of R161,445  was allocated to bursary awards for post graduate female students

2008 was a disappointing year for the Association in so far as BWOYA ran at a loss representing a large percentage of the total loss incurred for the year.  This was primarily due to certain administrative irregularities which were uncovered and which led to the dismissal of the then CEO. Steps have been taken by the Board to rectify the situation.

Celeste Frisby

General

The Vice President gave members the opportunity to ask questions.  There were no comments from the floor.  Ferose informed all the members that the Board will be amending the constitution and once amended it will be circulated to all.

Vote of Thanks

The Vice President thanked the members for attending.
 
The meeting adjourned at 10:00 am.