Financial Services division /Afdeling Finansiële Dienste

Overview

Grain SA achieved good results in all aspects of its operations. This is also reflected in the unqualified audit report issued by the external auditors, PricewaterhouseCoopers (PWC). Grain SA’s assets continued to grow under the strenuous economic conditions in which organisations in South Africa find themselves. Together with this, Grain SA also experiences pressure in terms of funding by external trusts. For this reason there is an ongoing focus on enabling Grain SA to become independent of external funding.

Oorsig

Graan SA het in alle aspekte van sy werksaamhede goeie resultate gelewer. Dit word ook weerspieël in die ongekwalifiseerde ouditverslag wat deur die eksterne ouditeure, PricewaterhouseCoopers (PWC), uitgereik is. Die bates van Graan SA het steeds bly groei onder die druk ekonomiese toestande waarin organisasies in Suid-Afrika hul bevind. Tesame hiermee, ervaar Graan SA ook druk in terme van befondsing deur eksterne trusts. Vir dié rede word daar deurlopend gefokus om Graan SA onafhanklik te maak van eksterne befondsing.

Results

Grain SA ends the year with a loss of R1,28 million. Despite the loss the total asset value of the organisation has grown to R100 million. The reason for this growth in asset value is positive growth in the levy fund. It is important to mention that all levy income is handled as trust monies. Only Congress can approve the spending of the levy trust funds by way of budgets.

Grain SA’s investment portfolios are managed with a mandate of a moderate investor. The risk appetite is not conservative, yet not aggressive either. For this reason Grain SA enjoyed growth of inflation plus 5% on investments. The growth makes a material contribution to the income of the organisation and for this reason investments are managed on an evergreen basis by recognised financial institutions.

The agreed upon procedures carried out by PWC on the Maize Trust and other trust funded projects also produced clean reports. All recapitalisation projects were completed successfully and no irregularities were identified. These results confirm the good corporate governance applied within Grain SA.

Members are assured that Grain SA’s finances remain sound and that the foundation is strong in order to support operations to serve members and the industry in the future!

Resultate

Graan SA sluit die jaar af met ‘n verlies van R1,28 miljoen. Ten spyte van die verlies het die totale batewaarde van die organisasie gegroei na R100 miljoen. Die rede vir die groei in batewaarde is positiewe groei in die heffingsfonds. Dit is belangrik om te meld dat alle heffingsinkomste as trustgelde hanteer word. Dit is alleenlik Kongres wat die spandering van die heffingstrustgelde goedkeur by wyse van begrotings.

Graan SA se beleggingsportefeuljes word bestuur met ‘n mandaat as ‘n gematigde belegger. Die aptyt vir risiko is nie konserwatief nie, maar ook nie aggressief nie. Om dié rede het Graan SA opbrengste van inflasie plus 5% op beleggings geniet. Die opbrengste maak ‘n wesenlike bydrae tot die inkomste van die organisasie en daarom word beleggings op ‘n immergroen basis deur erkende finansiële instellings bestuur.

Die ooreengekome prosedures wat deur PWC op die Mielietrust en ander trustbefondsde projekte uitgevoer is, het ook skoon verslae opgelewer. Alle herkapitaliseringsprojekte is suksesvol afgehandel en geen ongerymdhede is waargeneem nie. Die resultate bevestig die goeie korporatiewe beheer wat binne Graan SA toegepas word.

Lede word verseker dat Graan SA se finansies kerngesond bly en dat die fondament sterk is ten einde bedrywighede te ondersteun om diensbaar te wees vir lede en die bedryf in die toekoms!