Dear Members
Let me take this opportunity to address you on the very important matter of the upcoming Annual General Meeting (“AGM”).
There has been some concern about the timing of the AGM, and even suggestions that the Board may have ran out of time to host one in accordance with the provisions of our Memorandum of Incorporation (“MOI”).
Our MOI requires that the AGM should be held “within 15 (fifteen) months of the previous Annual General Meeting”, Section 6.6.1. Despite covid-19 lockdowns and other challenges, I am happy to inform that it looks likely that we will still be able to comply with the above MOI requirement. Our previous AGM was held on 10 February 2020.
Most of the preparatory work has been completed and an announcement from the Secretariat’s office will be going out soon. This announcement will provide all the necessary details pertaining to hosting a successful Annual General Meeting for the members of IBASA.
Some challenges that had to be overcome include:
- Stabilization of the IBASA Governance, following the unprecedented resignations of Board members;
- High staff turnover and inadequate capacity environment that the newly appointed MD had to work within; and
- Delays with the financial audit, due to staff turnover, and covid-19 disruptions, amongst others
Despite all these challenges, we are happy to inform that the IBASA has maintained its clean audit status. We are proud of the MD and her team for having achieved this outstanding performance against all odds.
The Board has appointed a Board Secretary to help fulfil its compliance obligations and to improve its effectiveness in executing its primary responsibility of oversight on behalf of the members.
The Call for Nominations will be going out shortly. Many of the Board and Committee vacancies need to be filled at this stage. This is a great opportunity for all of you as members (in good standing) with the requisite skills coupled with experience, to step forward and help take this great organization to the next level.
Stay blessed, safe, and positive.
Tumelo Tsotetsi CA(SA)
IBASA Chairman
15 March 2021
