Turnaround Management Association - Southern Africa has achieved a great deal in its first full year of operation. The board has recently reviewed the past performance and planned the way ahead to ensure TMA-SA is further entrenched as the industry body we intend to be.
We achieved recognition from government
This is best illustrated by recent events in which the Department of Trade & Industry as well as the National Treasury requested TMA-SA to advise it on improving turnaround and business rescue in South Africa.
The presentations were well received and National Treasury expressed the hope that “we will work well together… going forward…”
Our networking and educational events are growing in popularity
These presentations came about due to the sustained promotion of TMA and its members throughout the year through our monthly lectures and participation in various conferences, such as that held at Wits Business School. The monthly lectures are growing in popularity as we see from our growing database of people interested in attending. The networking opportunity so valued by members is also gaining momentum through these events. The next one is on 29th November at WBS when Vernon Leas of Sasfin Private Equity will present on “When private equity funding might be available in a turnaround situation, and on what terms and conditions.”
We are improving our ability to deliver on our member’s needs
Behind the scenes the Board and its Exco have been busy creating a firm foundation for the future development of TMA-SA. A strategy has been agreed and a plan put in place to significantly enhance the reputation and influence of TMA-SA. This includes a possible alliance with ICSA to share resources and to jump start our ACTP programme so that we can introduce the Chartered Turnaround Practitioners accreditation in South Africa soon. In addition to strategic issues, a secretariat has been established, a web site (www.tma-sa.com) and Internet forums established, enabling better communication for members.
We will continue to leverage the international knowledge base to position ourselves at the forefront of changes in the industry
We should not forget that we are a licensee of TMA International and enjoy many rights and privileges as a result. This organisation has well over 7000 members throughout the world including new chapters in Germany, Finland and India. The knowledge that TMA possesses is invaluable in guiding the Exco and will be even more useful as South African business legislation moves towards the American “Chapter 11” model next year. We will have an early opportunity to leverage our membership of TMA in March 2007 by participating in the INSOL conference to be held in Cape Town.
But we can’t do this without your support
In view of the excellent progress made this year and the exciting plans for next year, we hope that members will renew their membership to TMA-SA for 2007. To this end, invoices for membership renewal membership has been mailed to all TMA-SA members.
This news flash was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.