The “Third Wave” is here so I do hope this finds everyone keeping safe and following all the safety protocols. The infection rate is rising, and we all need to do our bit to contain the spread of the virus. Having just passed the winter solstice and heading towards longer, warmer days should hopefully provide some inspiration as we go about our daily lives.
The latest from the CIPC is that the implementation of the online Business Rescue reporting process has been tested and is now ready for implementation. We have been assured by CIPC that the new process is more streamlined and efficient. Members are urged to attend the online training webinars and to report any glitches they experience when using the new system.
TMA Global is pushing forward with its efforts to make TMA more “inclusive” globally and to encourage greater cooperation and communication between the various chapters. One way to achieve this is through a virtual “coffee chat” between two or more chapters. This has been piloted quite successfully in the US and involves a one-hour virtual chat with the members of the nominated Chapters. There is no formal agenda, and the purpose is to discuss issues of mutual interest and concern. TMA-SA has been asked to participate in the programme, investigating the option and will advise members accordingly. If anyone has a particular suggestion for a chapter they feel we should engage with, please let me know.
The TMA Annual Conference, which is to be held in Nashville in October 2021, is going to be a combination of in-person and online events. We will provide further details closer to the time but preliminary information can found on www.annual.turnaround.org.
On the local front, the Auditor-General has once again reported that irregular expenditure within municipalities was R26bn for the last financial year – R5bn less than last year. While this reflects an improvement, the state of municipal finances is still very worrying. Whilst it is appreciated that most members focus on turnarounds and business rescues in the private sector, it is glaringly apparent that our skills are desperately needed in the public sector as well.
Congratulations to the new Board elected at the AGM earlier this month. The first order of business will be to review the functioning of the Association in light of the current operational ‘challenges’ and how to ensure that we remain relevant and on top of our game. Members are asked to please consider participating through the various social media platforms and contribute where possible. The calendar of activities for the rest of the year will be announced shortly.
Please keep safe and enjoy the Newsletter.