The Public Finance Management Act (PFMA) requires all public institutions to account for all of its activities of the year through tabling of the annual report to parliament. sefa has accordingly finalized and presented it to parliament on the 3rd of September.. On 18th September it was released to the public jointly with IDC. The report can now be accessed from the website and intranet.
I am happy to report that the response from the Minister Patel, IDC and public was positive putting the organization under enormous pressure to even better the performance of last year.
End of this month I am reporting to the board about the performance of the organization in the second quarter of the year. To date we have approved R233 594 163, 70 and disbursed a total amount of R 254 862 712, 24.This is a milestone but there is a still long way to travel with regards to meeting targets.
The target for Direct Lending on approvals is R485 000 000 and for Wholesale it is R492 400 000.This totals R977 400 000 on approvals.
Against this background, I am positive that our collective effort will see us repeating and even bettering the performance of last year. Let’s all fasten our belts before it gets rough on the road.