19 May 2010 - 10h00 – 12h00
Nedbank Auditorium, 135 Rivonia Road, Sandton
WELCOME
Vice President of the BWA, Ferose Oaten welcomed the members present.
NOTICE OF MEETING
Notice of the AGM was sent out 21 days prior to the meeting as per the constitution.
VOTING STRENGTH
It was established that there are 1693 members currently registered and in good standing with the BWA. Accordingly, 85 members were required to form a quorum. 24 members were physically present (excluding the board and officers) and 61 proxies were received. A quorum was therefore established.
ACCEPTANCE OF PREVIOUS MINUTES
The minutes of the last AGM held on 8 May were accepted by the meeting.
PRESIDENT’S REPORT
Ms Basetsana Kumalo presented her final president’s report as follows:
Herewith, is my final speech for the 9th National Annual General Meeting of the Businesswomen’s Association.
I draw immense satisfaction from the knowledge that the BWA’s unwavering commitment towards the upliftment of our country’s businesswomen has earned it a special place of pride as one of the most admired and trusted organisations in this country.
The BWA’s robust strategy to encourage and nurture the upward mobility of women in the business sector is indeed admirable and will no doubt make a difference to the business landscape of the future.
As such, I will seek to provide some insights into the BWA’s past, present and future. Our organisation is currently going through some exciting times and it is our hope that our vision will become a reality and we will achieve our ultimate goal of reaching out and making a difference in the lives of every businesswoman who chooses to align themselves with the BWA.
It has been a year of ups and downs in all respects. A year of challenges and obstacles. However, we find ourselves here today, still standing, still committed to our cause, still going strong. That is no doubt with thanks to the incredible women and the few men who make up the constituents of this organisation. Not forgetting the management teams at both national and branch levels who work tirelessly to ensure that the wheels of the BWA keep turning. I salute you all, and I pay tribute to you for your unwavering commitment, enthusiasm, and dedication.
CENSUS
The results of the 2010 Women in Leadership Census were released earlier this year at an intimate event that was held at the Wanderers Country Club.
As has become standard, the results demonstrated that very little movement is happening on the ground. Research in the United States has shown that it will take 70 years, at the current rate of change, for there to be true parity in the boardroom. That is a whole lifetime! Can we afford to wait that long?
Some ask why we spend time, money and effort each and every year on an exercise that does not reveal any significant year-on-year movements. The answer is very simple. We need to keep the momentum going and we need to expose those companies that continue to ignore issues of gender empowerment.
We need to maintain the consistency, and keep the heat turned up. That is the only way we can encourage our corporates and government to develop a sense of responsibility and show real, visible commitment towards the upward mobility of women. It puts an end to lip service.
This year’s Census event was a great success, comprising an illustrious panel that included Minister of Women, Children & Persons with Disabilities, Noluthando Mayende-Sibiya; BMF President & DG of Labour, Jimmy Manyi; Economic & Social Development Guru, Liepollo Pheko; Founder and Principal Partner of Identity Partners, Sonja Sebotsa, Founder and Managing Director of SRS Aviation, Sibongile Sambo; and Political, Economic, & Social Development Analyst, Mohau Pheko.
Those who attended the event will attest to the fact that the panel discussion was indeed stimulating and raised some pertinent considerations regarding the role of women in the workplace.
BUSINESSWOMAN OF THE YEAR
The 2009 Businesswoman of the Year Awards saw two phenomenal women walking away with the ultimate accolade.
Influential banker, Venete Klein and exhibitions and events specialist, Carol Weaving scooped the Awards in the corporate and entrepreneurial categories respectively at an event held at the Sandton Convention Centre.
Venete and Carol have both proved to be worthwhile recipients, both travelling the width and breadth of our country over the past year to share their inspirational stories and deliver messages of hope and encouragement to our members. We wish them plenty more success to come in the future.
Nominations for the 2010 BWOYA went out in March and the closing date for nominations is the 31st May 2010. The Gala event will be held on the 27th August.
BUSINESSWOMEN OF TOMORROW INITIATIVE
The Businesswomen of Tomorrow Initiative has, unfortunately, not received enough attention over the years; however 2010 will see us reviving this necessary programme. The initiative is designed to mentor and develop young entrepreneurially inclined women and assist them with the transition from student to future business leader. The programme harnesses the potential of young women by economically and emotionally empowering them to make creative, informed, life and career choices. This is done through an integrated intervention focused on creating a South African society with balanced female representation in business leadership and direct contribution to economic sustainability.
As part of our revival efforts, we will be hosting an event on the 31st May 2010 in Soweto where we will be awarding bursaries to 10 deserving students.
We are confident that with the new strategy that has been put in place, the Businesswomen of Tomorrow initiative will truly make a difference in the lives of many young, aspiring businesswomen.
NEW PARTNERS
The BWA has entered into strategic partnerships with two leading international organisations, namely Germany based InWEnt Capacity Building International, and Washington based, Vital Voices Global Partnership.
InWEnt is active worldwide in human resource development, advanced training and dialogue. The organisation works together with people in key positions, assisting them in shaping processes of change in their own countries. The organisation’s capacity building programmes are designed for experts and executives from politics, administrations, the business community and civil society. InWEnt qualifies people to pass on their knowledge to others and effect long term structural changes. Their objective is to shape globalisation fairly and encourage sustainable development.
InWEnt also runs the CHANCE Project, which aims to strengthen and empower women entrepreneurs in fulfilling their role in the economic environment of Southern Africa and South Asia. In November 2009, Toni Gomes and Busi Mkhabele represented the BWA at a CHANCE Winter School on Strategic Management of Women's Entrepreneurship Associations which was held in India.
A CHANCE delegation will be visiting South Africa in November 2010 and we look forward to the insights to be gleaned from this visit.
Vital Voices Global Partnership seeks to identify, invest in and bring visibility to extraordinary women around the world by unleashing their leadership potential to transform lives and accelerate peace and prosperity in their communities.
Vital Voices is the preeminent non-governmental organization (NGO) that identifies, trains, and empowers emerging women leaders and social entrepreneurs around the globe, enabling them to create a better world for us all.
The organisation hosted the Bi-Annual Africa Businesswomen’s Network (ABWN) Strategic Planning & Hub Leaders Meeting in February 2010 in Kampala, Uganda. Representatives from the BWA were Kunyalala Maphisa, Rehema Isa, and Busi Mkhabele.
NEW ENDEAVOURS
Head Office hosted an exciting event on Monday 17th May in Polokwane. This was the BWA’s first event in the province and is part of our efforts to reach out to women across the country who are hungry for development and networking opportunities. The event was a resounding success and I am sure the BWA shall soon become a permanent feature in Polokwane.
In this regard, efforts will be stepped up to ensure that more branches are opened nationwide to accommodate what we envisage will be a steady growth of our membership figures. At present, Soweto is the only branch that is operating within the confines of a township and we are very excited about its development and the great things that it is doing for women in the area. But that is just Soweto. What about other townships and other small towns where the same hunger to acquire business skills exists? We would be doing ourselves a disservice if we just sat back and did nothing to unleash that potential.
On a regional level, a delegation of businesswomen travelled to neighbouring Zimbabwe last year where we sought to forge business partnerships for our members with businesswomen from that country. We look forward to the fruitful partnerships that are envisaged to emanate from that endeavour.
BWA MAGAZINE
We hope that members are enjoying the new and improved BWA Magazine, a must have for any woman seeking to add value to her business and her personal growth. We are particularly encouraged by your positive feedback after publication of the first two editions and we will strive to ensure that the magazine remains relevant to the needs of our members.
The Magazine is brought to you in partnership with leading publishing house, Associated Magazines whose vast experience and unrivalled knowledge in creating inspirational consumer magazines for women will go a long way in taking the BWA magazine to a new level and giving our members access to an all-inclusive and relevant business publication. At the helm of the magazine is none other than Jane Raphaely, Associated Magazines Chairman, who is heading up the editorial team. We are indeed honoured and privileged to have Jane herself working with us on this project. Her years of experience, aptitude, and publishing magic shall contribute immensely to bringing members a high quality, professional businesswomen’s magazine.
NEW LOGO
The BWA is pleased to announce that we are now running as an independent association, supported by our long time partner, Nedbank. As a result, the BWA logo has taken a slightly new look and now stands independent of the Nedbank logo. The Nedbank logo still appears on our marketing collateral and now reads as ‘supported by Nedbank” instead of “sponsored by Nedbank”
The BWA shall forever be grateful for the support that we have received and continue to receive from Nedbank. Ours is a friendship for life that is based on a common understanding and a common purpose.
BWA STRATEGY REVIEW SESSION
The BWA will be holding a Strategy Review Session from 31st May to 2 June. This is in light of the fact that as an organisation, we have identified a need to review our strategic positioning and to tighten our value proposition to our member base.
We further recognize that effective strategy implementation requires a common understanding of outcomes and commitment to the process of delivery. It is in this vein, and other understandings, that a four day session has been set aside to ensure that those who have taken on the role of stewards for the BWA are appropriately trained and empowered with the appropriate information and capability to meet the demands of leading a businesswoman’s association.
The proposed programme includes Board Induction, Corporate Governance Training, and BWA Strategy Review & Definition.
RESIGNATIONS & NEW APPOINTMENTS
Some of you may be aware that our Executive Director, Toni Gomes resigned in December 2009. The search for a replacement continues and members will be advised in due course of the new appointment.
In addition, a new Board has been appointed. Their names will be announced shortly.
With the announcement of the new board comes my message of farewell. I officially step down as President of this awesome organisation after a three year tenure. It has been a great experience, rewarding in all ways possible. I have learnt much. I have met many inspiring women and I have been inspired. I have been touched by the appreciation shown to the BWA for its efforts. I have grown as a businesswoman. I have grown in my own understanding of the business world and the world in general.
It is a bittersweet moment as I bid you all goodbye. Bitter in the sense that this marks the end of a remarkable journey for me, and sweet in that it ushers in new possibilities and a new journey for the BWA. I am humbled and indeed honored to hand over the baton to your new President, Ms. Kunyalala Maphisa, who was appointed by the Board after a nomination process.
Kunya, as she is affectionately known, is a dynamo in her own right with an immense passion for the organisation and everything that it represents. She has served the BWA Board with great distinction over the last 3 years. Her astute legal mind has been a great asset to the organisation. I wish Kunya wisdom, perseverance, courage and resilience, as she leads our country’s businesswomen through the next phase of the BWA’s journey. I know for a fact, that Kunya is equal to the task.
In closing, I would like to thank you all for your support during what has been a challenging – but very important three years – for me, the BWA, our members, and the team that works behind the scenes.
I would like to thank the outgoing BWA Board whose leadership, strategic input and direction has seen us traverse through difficult times.
My thanks go to the Head Office team; I do not know what I would have done without you. You are truly amazing.
Ferose - it has been an awesome privilege to work with Ferose and I have learnt much from her. I thank her for her wise council, for always being the voice of reason and for her dedication to BWA over the years.
Busi – It has been a blessing to work with Busi – she is a very special lady.
Nia – I thank Nia for assisting and working with Busi, and ensuring that head office continues to deliver.
The members of the BWA - there would be no BWA without you. Thank you for affording me the opportunity to work with you. I will be forever indebted for this time, this chapter and this journey in my life.
I would like to leave you all with this well known Irish Blessing:
“May the road rise up to meet you, may the wind be ever at your back. May the sun shine warm upon your face and the rain fall softly on your fields. And until we meet again, may God hold you in the hollow of his hand”.
I thank you.
Basetsana Kumalo
- The president’s report was moved for acceptance by Manini Madisha and seconded by Prudence Ndlovu.
- Ferose Oaten officially thanked the Ms Kumalo for her excellent service to the BWA over the last 3 years as president and presented her with a certificate recognizing service to the BWA.
TREASURER’S REPORT
Ms Ndumi Medupe was officially welcomed by Ferose Oaten as the new treasurer.
Elizabeth Schwellnus, bookkeeper, presented the treasurer’s report as follows:
On behalf of our recently retired treasurer, Celeste Frisby, I am pleased to present the Association’s annual financial report together with the audited financial statements for the year ended December 31, 2009.
I would like to take this opportunity to thank Celeste for the years of dedicated support and firm guidance, which she has given to the association and to me. I also offer a warm welcome to our new treasurer, Ndumi Medupe, who is unable to attend the meeting today.
The income received by the Association is derived from:
• The much appreciated primary sponsorship from Nedbank Limited;
• Corporate and Individual membership subscriptions;
• Head Office and Branch networking functions and workshops.
Main items of Expenditure are:
• Administrative expenses, with the bulk being allocated to salaries, the Census, The Business Woman of the Year Award, rental and telephone expenditure as well as meeting costs.
• An amount of R106,182 was allocated to bursary awards for post graduate female students
Analysing the figures in the financial statements, we see that the Association received a total income for the year of R4, 351,234. This is an increase of 11.17% on the previous year’s income of R3, 914,015. In addition, our expenditure of R4, 131,021 showed a decrease of 16.98%, this despite the fact that the expenses include the write-off, deemed necessary by our auditors, of R224, 455 (being the book value of our remaining stock of inspiration cards). The Association therefore closes the year 2009 with a surplus of R220, 214, compared to last year’s deficit of R1, 062,050. This is a welcome turnaround, and has gone a long way to correcting the unacceptable situation in which we found ourselves last year.
There remains a cause for concern, however, in that we still have an accumulated deficit, which now stands at R555, 793. This must be eliminated or we run the risk of losing recognition as a going concern. You will notice that the BWOYA function again ran at a loss (R555, 031 as opposed to R955, 777 last year). If this function had broken even, or made a small profit, our deficit would have been eliminated. BWOYA is our flagship event, the main source of the money we give as bursaries, and every effort is being made to ensure that this unfortunate state of affairs does not recur in 2010.
ELIZABETH SCHWELLNUS
Questions posed before acceptance of the treasurer’s report:
Nqobile Kunene: Corporate governance demands that the financial statements be available for viewing by the members. Having them on a slide is not good enough. What are the plans to manage deficit?
FO explained that although BWOYA is BWA’s signature event, it has been decided that the event will be cancelled if it seems that it can only run at a loss. In fact, no event will be held if it will run at a loss. It has also been decided to run BWOYA on a smaller scale given the current financial climate.
Nqobile Kunene: Where are the constitution and articles as a section 21 company?
Manini Madisha, company secretary, explained that the BWA is a voluntary association and is not registered as a section 21 company pursuant to the Companies Act. As such it is only governed by the constitution which is available to members. Appointment of the board held over for reply during address of the secretary.
Rebecca Richards: How are we going to increase membership? What is e.g. the drop off rate of members and what is being done to manage it?
FO pointed out that the branches are looking at different approaches and always looking at the value proposition to the members. Contact is made with members after renewal date etc. but more engagement is required going forward and it is clear from this interactive AGM that members are looking for more engagement.
Thembi Mnisi; What is the impact if BWOYA proceeds are applied towards the deficit rather than for bursaries?
FO explained that there is a strategy meeting to be held to review this point but that the application of funds to bursaries is the selling point of the BWOYA. Cannot be applied elsewhere once it has also already been advertised that they will be so applied but some regions have already suspended bursaries. This will be a consideration in future.
Gwen Watkins:
Vicky Marais-Swanepoel:
Nafisa Nassir-Deen: More communication is required from the BWA head office. No welcome pack is received on joining; it is not clear what the benefits are.
FO pointed out that the office had received a complaint in the last 2 weeks that too much communication was being forwarded from Head Office but it is clear that balancing act was required to give the members important information. Some branches do give out a standard welcome pack but the point was noted.
Prudence Ndlovu: Is there a time frame for completion of database as members are keen to network based on the basis of the information supplied?
FO pointed out that the BWA needs to clarify its specification document then communication can be sent to the members. The specification document is to be tabled at the next board meeting.
Nafisa Nassir-Deen and Vicki Marais-Swanepoel moved for acceptance of the treasurer’s report.
INTRODUCTION OF THE NEW BOARD
MM explained the new management structure approved by the board in October 2009. All branch chairs will now sit on an operations committee and will handle the day to day management of the BWA while the board will continue to spearhead the strategic direction of the BWA.
It was explained that the board members are appointed by the president on advisement by the board and that nominations were called for at branch level through the branch chairs.
MM welcomed the new board members:
* Kunyalala Maphisa President
* Ferose Oaten Vice President
* Rehema Isa Board Member
* Liepollo Pheko Board Member
* Renee Silverstone Board Member
* Mr Mthunzi Mdwaba Board Member
* 2 OPCO REPRESENTATIVES BWA CHAIRS
Two representatives from the operations committee will also be appointed to the board later in May 2010.
MM introduced new president, Ms Kunyalala Maphisa
NEW PRESIDENT ADDRESS
I would like to first of all thank my colleagues from the Board of the Businesswomen’s Association of South Africa (BWA) for having the confidence in me and entrusting me with this responsibility. It is a responsibility that I am not taking lightly and I undertake to do my very best. I assume this position mindful of the fact that I step into the shoes of a giant, one whom I will be constantly measured against every step I take. I take on this role confident and grateful for the fact that this is a giant on whose shoulders I stand with the conviction that she will not let me fall. I have worked with Basetsana Kumalo (Bassie) for the past three years and have had the privilege of knowing her as a dear friend, a sister, and one of the hardest working women I know. There can be no doubt about the magnitude of her contribution to the BWA, an organisation that was existing on the periphery of mainstream discourse to one she has repositioned to where it belongs, at the centre.
This is not a period for policy formulation or theoretical dialogue on women empowerment. Those discussions have been done to death and literature is abounding on the matter. This is a time to get things done and to start showing tangible gains, no matter how small.
What Bassie and all my predecessor Presidents of the BWA were very successful at was, laying a solid foundation from which we can build. My promise is to build on what they have already done. The emphasis during my term of office will be defining and articulating what it means to be a member of BWA and delivering tangible value add to its members
In the minds of every BWA decision maker within the Branch Committees, Operations Committee, Board, the overriding question should always be: Is there a direct link between a decision or action taken to the member on the ground? Otherwise there is no point of the organisation’s existence.
This is a membership based organisation and without the members, there is no organisation. I would like to see more interaction and more say by the members, and during my three years in office an organisation that is relevant and in touch with the issues and needs of today’s businesswomen.
I invite members to take ownership of the organisation and make demands on the leadership. It is not up to me as President of the organisation or the Board alone. We can only be guided by the members.
I am very excited about where the organisation is at today. Some exciting developments are in the pipeline, and I can share the following with you.
• The BWA has a new revamped constitution that speaks to the new repositioning of the organisation and a new vision that is relevant to today’s businesswoman and the business women of the future.
• The association has forged new national and international affiliations that will see BWA positioned not only as the voice of businesswomen in South Africa, but also on the continent and beyond. Through these strategic partnerships, the BWA is able to bring tangible value add to its members.
• BWA will also partner and affiliate with other local organisations with a similar vision. It is important to collaborate towards a common goal than to work in competition. Members will see more joint projects with other organisation in order to maximise value add for the members.
For updates on what is going on at the BWA, please look out for programmes on the BWA website.
Once again, Nedbank has come on board as the organisation’s partner for a further 3 year term and I would like to thank the company for its unwavering support over the past 10 years.
Thank You
Kunyalala Maphisa
VOTE OF THANKS
The Vice President, Ferose Oaten thanked the Head Office for its hard work.
Members were encouraged to send suggestions to the Head Office at info@bwasa.co.za
FO thanked Nedbank for its continued sponsorship, especially Mr Andy Scott, Mr Patrick Baransky and Ms Jay Naidoo.
FO thanked members for attendance.