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.

Corporate renewal enables economic growth, and allows financially distressed businesses to be saved, thereby continuing in the economic mainstream, preserving jobs and paying taxes.

TMA-SA aims to equip its members with skills and knowledge for the first three stages of corporate decline in the timeline of financial distress.  These are management correction, informal creditor workout, and business rescue:

• 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 the need 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 in terms of Chapter 6 of the Companies Act No. 71, 2008, of companies that are in financial distress, but economically viable, with the objective of avoiding liquidation.  Business rescue represents the formal sector application of turnaround.

TMA-SA is not active in liquidation - the fourth stage of the timeline of financial distress.  We do welcome however, those insolvency professionals that wish to become active in business rescue.

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 professionals from all disciplines engaged in the corporate renewal activities of business transformation, turnaround and business rescue choose to associate, market their services, and develop their professional skills.

Mission

TMA-SA’s mission is to serve as a forum for professionals from all disciplines engaged in the corporate renewal activities of business transformation, turnaround and business rescue 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 turnaround and corporate renewal professionals of all disciplines.  These are listed in the left-most column.

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 knowledge exchange and networking with TMA.

Established in 1988, TMA has nearly 9,000 members in 45 chapters, including 32 in North America , and one each in Australia, Brazil, the Czech Republic, Finland, France, Germany, Italy, Japan, the Netherlands, Southern Africa, Spain, Taiwan and the UK, with a chapter in formation in China.

TMA-SA represents the Southern African region - South Africa, Swaziland, Lesotho, Namibia, Angola, Zimbabwe and Mozambique.

Benefits of TMA-SA membership

The Turnaround Management Association - Southern Africa (TMA-SA) is a voluntary turnaround and corporate renewal 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 many of its members present papers at an annual turnaround management conference at Wits Business School..

TMA-SA is in the process launching a Turnaround certification programme in South Africa, for implementation in 2010.

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.

A member shall not give the impression that membership in the TMA-SA bestows any credentials or in any way guarantees minimum qualifications.   To this end, TMA-SA will introduce the Certified Turnaround Professional qualification and other certification qualifications in South Africa in due course.

TMA-SA slide show

Click on the full screen button bottom row second from the right.

TMA-SA business rescue policy

Turnaround Management Association - Southern Africa (TMA-SA) welcomes new business rescue legislation in terms of the Companies Act No. 71, 2008, to which it contributed by way of submissions and workshops with the dti.

TMA-SA is in the process of setting up a Turnaround Governance Board with a Standards and an Academic Subcommittee for purposes of certifying turnaround professionals.

TMA-SA, through its Turnaround Governance Board and its subcommittees, will apply to the Minister to be appointed as the regulatory authority of the practice of persons as business rescue practitioners in terms of Section 138 of the Companies Act No. 71, 2008.  For more information, see Regulation of business rescue practitioners.

Add you comments or questions on this web page below

blog comments powered by Disqus

Interested in a recognised turnaround qualification and professional qualification?

See Certification.

Looking for a turnaround professional to help with your underperforming or distressed company?

Go to TMA-SA members for a directory of TMA-SA turnaround professionals of different disciplines:

• Turnaround practitioners and consultants.
• Corporate turnaround managers and interim managers.
• Attorneys, accountants and financial advisors.
• Workout / restructuring executives of banks and Development Fund Institutions.
• Investment executives of institutional investors, venture capital and private equity investors, development funds, etc.

What is new?

Developments to keep an eye on are new business rescue legislation, and the Certified Turnaround Professional programme.

For more information, see Turnaround news.

TMA-SA presentations and submissions

TMA-SA presentation - read all about TMA-SA.	(654k)
Improving turnaround and business rescue in South Africa - how government can contribute, and how TMA-SA can assist.	(588k)

TMA brochure

TMA brochure

(734k)

TMA Annual Reports

TMA Annual Report 2007	(4779k)
TMA Annual Report 2006	(3590k)
TMA Annual Report 2005	(4779k)
TMA Annual Report 2004	(955k)
TMA Annual Report 2003	(1211k)

TMA publications

Overview of the corporate renewal industry	(74k)
TMA history	(74k)