Turnaround Management Association - Southern Africa
Core purpose, vision and mission
Core purpose
The core purpose of TMA-SA is strengthening the economy through the restoration of corporate value.
View the restoration of corporate value at different levels of company health.
Restoration of corporate value enables economic growth by allowing distressed companies to continue in the economic mainstream, preserve jobs and pay taxes.
TMA-SA aims to equip its members to restore corporate value through corporate renewal in the first three stages of corporate decline as represented by the timeline of financial distress - management correction, informal creditor workout, and formal business rescue in terms of legislation:
- Improved business transformation and turnaround of declining and underperforming businesses through:
- Earlier and improved management-led correction by timeously acting on early warning signals, with the objective of avoiding theneed for lenders such as banks to intervene through workouts.
- More successful informal creditor workout, should problems worsen and become more acute, with the objective of avoiding the need for formal business rescue.
- More successful business rescue, which represents turnaround or sale within the framework of business rescue legislation as contained in Chapter 6 of the Companies Bill, of businesses that are nearly or already insolvent, but potentially viable, with the objective of avoiding liquidation.
TMA-SA is not active in liquidation - the fourth stage of the timeline of financial distress.
View the timeline of financial distress.
Click on timeline of financial distress table for a popup table explaining the four stages.
Vision
The vision of Turnaround Management Association - Southern Africa (TMA-SA) is to be recognised by the Southern Africa business community as the pre-eminent organisation in which corporate renewal (business transformation, turnaround and business rescue) professionals from all disciplines choose to associate, market their services, and develop their professional skills.
Mission
TMA-SA’s mission is to serve as a forum for corporate renewal (business transformation, turnaround and business rescue) professionals from all disciplines to enable networking, to promote high standards of practice and foster professional development through education as well as well as through knowledge capture and dissemination, and to enhance the image of TMA-SA members.
Members
TMA-SA’s members represent corporate renewal (business transformation, turnaround and business rescue) professionals of all disciplines. These are listed in the left-most column.
For a complete list of disciplines and membership categories, please see membership profile.
Part of the global turnaround management community
The Turnaround Management Association - Southern Africa (TMA-SA) is an international affiliate of the Turnaround Management Association (TMA).
In terms of its license agreement, TMA-SA members share in the knowledge exchange and networking of TMA, which has 7 000 members world-wide, and which has been in existence since 1998.
TMA-SA represents the Southern African region - South Africa, Swaziland, Lesotho, Namibia, Angola, Zimbabwe and Mozambique.
In its second year of operation, TMA-SA is the 24th largest or 21th smallest of the 30 United States chapters and 15 international affiliates.
It is the 5th largest international affiliate out of 15 after the United Kingdom, Australia, Japan and Finland, larger than countries such as France and Germany.
For more information on TMA membership per country, see TMA Chapters and International Affiliates status.
Benefits of TMA-SA membership
The Turnaround Management Association - Southern Africa (TMA-SA) is a voluntary business transformation, turnaround and business rescue association for purposes of:
Networking
TMA-SA provides a networking infrastructure and events for turnaround professionals of all disciplines to meet, socialise, interact, communicate and contact each other.
Apart from social and educational events for meeting, the organisation provides electronic communication media in the form of a web site, discussion forums, newsletters, centralised emailing and personal contact information.
Knowledge
TMA-SA serves as a clearinghouse of information and research pertinent to turnaround management and the turnaround industry, by capturing knowledge and distributing news, information, ideas and knowledge.
To this end it publishes newsletters and blogs, and maintains a knowledge base on the web site.
Education
TMA-SA fosters professional development opportunities for turnaround professionals of all disciplines.
It pursues improved methodologies and the raising standards of turnaround management, thereby enhancing the necessary competencies for successful practice.
Presently, it offers a monthly lecture series, and its members present papers at an annual turnaround management conference.
Promotion
TMA-SA promotes the organisation and its members as professionals committed to the highest standards of practice. This include representation and lobbying with government regarding issues affecting its members such as new business rescue legislation.
The web site lists a directory of members per discipline.
Each member has its own web page to promote its services.
Membership of TMA-SA does not confer any professional qualification or certification upon members. To this end, TMA-SA will introduce the Certified Turnaround Professionals qualification in South Africa in due course.
TMA-SA business rescue policy and alignment
Turnaround Management Association - Southern Africa (TMA-SA) welcomes new business rescue legislation in terms of the Companies Bill 2007, and any government efforts to regulate formal business rescue.
We offer our support, help and advice when asked and when required in this regard.
Download Business rescue legislation comments which constitutes TMA-SA's submission to dti on the business rescue provisions of Chapter 6 of the Companies Act 2007.
TMA-SA believes that business rescue should be regulated.
This could be in terms of self-regulation by means of ABASA - Association of Business Administrators of South Africa (see diagram on the right) or government-regulated or another form.
In all instances, TMA-SA will provide neutral support to all structures aimed at promoting the efficient and effective functioning of the turnaround and business rescue industries in South Africa.
View where industry associations operate in the timeline of financial distress.
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