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Dear valued member

My previous address to you was in July this year. A lot has happened since then, depending on how one looks at it.

The good news is that for the first time since more than five (5) years ago, IBASA now has an appointed person in the position of Managing Director.

I introduced her at our last webinar, as Ms. Mpho Mofikoe. She brings a wealth of knowledge, experience, and a lot of energy to the organization. Let us give her our full support. I wish her well in her new role. She can be reached at

On the other, however, there have been some serious challenges experienced at the governance and leadership level over the past few months. This has seen no fewer than seven (7) non-executive directors resign from the Board. The Board then co-opted additional members in order to fill the vacancies that arose as a result. In line with the provisions of the MOI, this process will be ongoing until the next AGM to ensure that the Board is properly constituted at all material times. At this stage, there is reasonable stability on the Board to serve your interests.

All the vacancies that have resulted at Board and Board committees should be filled at the next AGM. This will include representatives/ chairpersons of the various provinces. There will shortly be a call for nominations, as part of the preparation for the AGM. For this purpose, I urge you to nominate persons dedicated to advance the interest of IBASA and its members ahead of their own.

Some projects and initiatives that we announced a while ago have not progressed as planned. I am, nonetheless, delighted to advise that our project (Ximilani Fund) with the City of Ekurhuleni has now been signed off and is ready for implementation. I am also confident that in the coming weeks we will be able to unlock the collaboration with the South African Chamber of Commerce and Industry (SACCI), through our strategic partner in the form of Growthwheel South Africa.

All the documents/ information relating to our Strategy Session held in July 2020 will be communicated in my next address, and some will also be shared on our website.

Let me take this opportunity to assure the members that IBASA is getting back on track.

Be on the lookout for invitations to our member engagements that will be taking place in your region. This is a platform to engage with you, and will also be used to nominate your provincial representatives to serve your interests.

As the Chair, I am fully committed to leading this great organization in turning the corner and reclaim its rightful strategic position in the economy.

I can be reached at

Tumelo Tsotetsi
30 October 2020