SAICA Enterprise Development and Anglo American Zimele launch new strategic Enterprise Development Financial Excellence Programme
SAICA Enterprise Development (SAICA ED) is passionate about partnerships and developing a pipeline for economic impact for our country. As we know, in accordance with SAICA’s Accelerating and Prioritising the Delivery of the SDGs report in 2021, SDG 17 calls for the ‘need for true collaboration in the pursuit of all the goals by the year 2030’.
As SAICA CEO Freeman Nomvalo commented: ‘SAICA is united around the SDGs and is looking to work with partners to help us accelerate and prioritise the delivery of the SDGs by facilitating and co-creating cross-sector social impact projects that harness business’ powerful role in affecting positive social change in our nation.’
Against this backdrop, SAICA ED officially boasts a new strategic partnership for impact with Anglo American Zimele (AZZ). Through this partnership launched in February 2022, Zimele and SAICA ED seek to implement a financial excellence programme aimed at empowering 66 SMMEs within the mining sector to improve their financial management systems in order to run effective operations as well as grow holistically and become more economically sustainable.
Anglo American Zimele approached SAICA ED for a pilot collaborative and bespoke financial excellence programme to assist with supporting two cohorts of SMMEs from their Kumba Iron Ore and Anglo American Platinum operations.
SAICA ED has the pleasure of running a 12-month Enterprise Development programme focusing on financial excellence, which commenced in January 2022 with coaching interventions kicking off this month. Through this intervention, Zimele hopes to achieve several objectives including developing financially savvy SMMEs through thorough financial management from the finance coaching, receiving credible and up-to-date management reporting through the accounting and back-office support as well as playing an active role in rebuilding a sustainable economy through SMME development.
SAICA ED is part of the Learning and Development division of SAICA and runs Enterprise and Supplier Development (ESD) programmes – particularly focusing on black-owned initiatives – with the goal of growing the SMME entrepreneurial ecosystem for greater sustainability.
SAICA ED will be assisting with and implementing the following components:
- A financial deep dive process
- Finance coaching for the SMMEs with SAICA-associated small and medium practices
- Accounting and back-office support to SMMEs
- Finance bootcamps
- Monitoring and evaluation of the impact of the Financial Excellence Programme on SMME performance
‘SAICA ED’s intent for this programme is to mobilise selected members from all designations of the SAICA profession to assist Anglo American Zimele in promoting Financial Excellence in the SMMEs of South Africa,’ says Jameel Khan, Head of Projects at SAICA ED.
All SMMEs will be tracked in terms of their business development and their growth against the initial financial deep dive. This will be achieved by establishing solid financial recordkeeping practices, as well as coaching the entrepreneur in financial management systems and effective cash flow processes.
‘With a continuous passion to see development and transformation in South Africa’s entrepreneurial ecosystem, SAICA ED is very excited to further its reach in the mining sector through this strategic partnership with Anglo American Zimele. We look forward to a fruitful season of high impact and seeing the SMMEs on the programme becoming financially excellent’ adds Annie McWalter, CEO of SAICA Enterprise Development.
Small Business Spotlight
In this month’s spotlight we are showcasing Kolano.
Kolano is a 100% black-owned and multi-faceted firm offering auditing, tax consultancy, advisory ad HR services to their clients. Their vision is to be a world-class empowering professional services provider and employer who promotes good corporate governance practices and socio-economic growth in the African economy.
Kolano was founded by Josh Molomo, Thabo Kekana and Thabo Godfrey Mongatane, who are originally from the platinum mining town of Mokopane, outside Polokwane. They provide trusted advisory, auditing and consulting services to clients big and emerging. Kolano also provides executive development and coaching to listed and SMME clients across the continent.
If you would like to know more about Kolano, check out their website: www.kolano.co.za.
Thabo Godfrey Mongatane, Kolano’s Head of Advisory, is one of SAICA ED’s collaborative SMP partners on the current Anglo American Zimele project for 2022. In 2020 he was recognised as a Top 35-under-35 finalist by SAICA.
