IMPACT

REPORT
2016
 LEGAL STATUS AND VALUE PROPOSITION 4
Overview 7

STRATEGIC ALLIANCE 8
The Thuthuka Operating Entities 10
Thuthuka and the National Development Plan (NDP) 11
Value Chain Success Stories 12
Thuthuka Impact on the SAICA Value Chain (Since Inception) 14

CHAIRMENS REPORT (TBF and TEUF) 16

MESSAGE OF THE EXECUTIVE DIRECTOR:

NATION BUILDING 18

SCHOOL IMPACT 20
Schools Eco-system 22
School Initiatives 24
School Initiative Highlights 26

UNIVERSITY IMPACT 28
University Eco-system 30
University Initiatives 32
Undergraduate Programmes 32
Postgraduate Programmes 33
University Initiative Highlights 34

THUTHUKA IN THE MEDIA 36

GOVERNANCE AND RISK MANAGEMENT 40

The Thuthuka Boards 42
TBF Trustees 44
TEUF Board of Directcors 46
Risk Management 47

POWERFUL PARTNERS 48
Partner with Thuthuka and Help Us Build the Nation (B-BBEE Codes and Charter) 50
How Can You Help? 51
Powerful Partnerships 52
Friends of Thuthuka 54

Front cover:

CONTENTS
Walter Sisulu Universitys first Thuthuka graduates

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 TO
DEVELOP
Thuthuka is a Zulu verb meaning
to develop, indicating the action-
based perspective with which
transformation is being driven.

Our Life Orientation book series: Advancing education and empowering the youth
(Pictured: Learners from Mandlakazi Secondary School in Bhanganomo, KwaZulu-Natal)

LEGAL STATUS AND

VALUE PROPOSITION
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LEGAL STATUS AND VALUE PROPOSITION LEGAL STATUS AND VALUE PROPOSITION

OVERVIEW
A critical driver of the strategic focus of the South grow the number of Chartered Accountants
African Institute of Chartered Accountants (SAICA) [CAs(SA)], and
Looking back at my is South Africas National Development Plan: Vision transform the demographics of the profession to
for 2030, which calls on the private, public, and civic match the countrys demographic profile.
journey and thinking sectors as well as the citizenry of South Africa to rally
behind a united vision for the countrys development. To drive this process and ensure its proper governance,
of the role Thuthuka To this end SAICA, as a critical stakeholder in society,
SAICA established the Thuthuka Education Upliftment
played in getting me has undertaken the responsibility of ensuring that there
Fund (TEUF) in 2002, the Thuthuka Bursary Fund (TBF)
in 2005 and the Ntivo Endowment Fund in 2016. These
is a consistent flow into the economy of adequately
here, a strong feeling of and suitably qualified professionals representative of
Thuthuka entities contribute to SAICAs Nation Building
strategic objective.
the countrys demographics. This is done via various
gratitude fills my heart. skills development initiatives both at a high school and
tertiary education level in order to:

Nhlamulo Khoza, TBF beneficiary

and newly qualified CA(SA)
LEGAL STATUS
The Thuthuka Bursary Fund (TBF) is registered in The Thuthuka Education Upliftment Fund (TEUF) is a
South Africa in terms of the Trust Property Control SAICA skills development implementation entity, and
Act, No. 57 of 1988 (Trust Number: T459/88), with its is registered as a public benefit organisation in terms
principal place of business at 17 Fricker Road, Illovo, of section 18(A) of the Income Tax Act. A Board of
Johannesburg, South Africa. The primary activity of the Directors is responsible for the overall running and
Trust is to assist disadvantaged African and Coloured governance of TEUF.
students to become CAs(SA). The funds of the Trust are
managed by SAICA in accordance with a management
agreement with the Trustees.

OUR VALUE PROPOSITION

Our value proposition is to sustain the future of the CA(SA) profession and transform its demographics by:

ADVANCING EMPOWERING SUSTAINABLE

EDUCATION YOUTH FUNDING

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 STRATEGIC
Growing Thuthukas national footprint supports South Africas National Development Plans education objectives
(Pictured: Nation Building Project Manager: Lerato Kotane)

ALLIANCE
8 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 9
STRATEGIC ALLIANCE STRATEGIC ALLIANCE

OUR MISSION THUTHUKA & THE NDP

Our mission is to discover a wealth of talent and skills in communities to sustain profound growth in business The NDP is a strategic framework produced by the all, and aiding all South Africans to realise their full
leadership, and assure a prospering and diverse chartered accountancy profession equipped to deal with any National Planning Commission with the mandate to potential particularly those previously disadvantaged
challenges arising in the future of South Africas economy. identify issues affecting the long-term development by apartheid. The NDP emphasizes that the quality
of the country and advise the Presidency accordingly. of education in the country is in dire need of
The ultimate vision of the NDP is to eliminate poverty improvement, and offers a long-term perspective on
OUR VISION and reduce inequality through growth by 2030. In how to address the internal obstacles that constrain its
achieving the objectives of the broader developmental delivery. Chapter 9 builds on the vision for education,
Our vision is clear: to develop responsible leaders. framework, education has been identified as being training and innovation. The diagram below shows
a central component due its role in building an how the Thuthuka initiatives contribute to Chapter
inclusive society that provides equal opportunities for 9 of the NDP.

THE THUTHUKA OPERATING ENTITIES CHAPTER 9

IMPROVING EDUCATION,
TRAINING & INNOVATION

90% of learners Increase the Expand the college Increase enrolment Improve the
THUTHUKA EDUCATION THUTHUKA BURSARY NTIVO ENDOWMENT

NDP CHAPTER 9
in grades 3, number of system with a focus at universities by university pass
UPLIFTMENT FUND FUND FUND

OBJECTIVES
6 and 9 must students eligible on improving quality at least 70% by rate to 80% by
achieve 50% to study towards to build confidence in 2030. The aim is 2030.
Career Awareness Student Bursary Fund B-BBEE Equity Ownership or more in the maths and the college sector and for enrolments to
Bursary Fund Critical student support Investment Management annual national science-based attract more learners. increase to about
Capacity Building programmes at assessments in degrees to The recommended 1.62 million from
Critical student support undergraduate student literacy, maths 450 000 by 2030. participation rate 950 000 in 2010.
programmes throughout level and science. of 25% would
the value chain Student accommodate about
Learner Student Trainee 1.25 million enrolments.

EMS educator support Capacity building Over 3 000 TBF Throughput

programme assist historically enrolments rate for

CONTRIBUTION
THUTHUKAS
Junior Accounting Olympiad disadvantaged between 2005 Thuthuka
Maths Olympiad institutions to and 2016 Bursary Fund
Maths & Science Academy achieve SAICA students
Senior Accounting Olympiad accreditation stands at
Development Camps Unisa long-distance 65% (vs a
CTA Programme target of
TVET CFO 50%)
programme

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STRATEGIC ALLIANCE STRATEGIC ALLIANCE

NG C
YOU A(
SEDZANI

SA
MUSUNDWA

)
Top 35 under 35 finalist (2016)
VALUE CHAIN SUCCESS STORIES Lecturer: University of Pretoria
Thuthuka programme manager:
It is essential that the pipeline from school level into However, of the large number of learners reached at University of Pretoria
higher studies and the profession should continue to school level, only a small number will meet the criteria
grow. Therefore, the Thuthuka programmes continue for and be accepted in undergraduate programmes. An
to address the longer-term objectives by growing the even small number will enter postgraduate studies.
pipeline of learners entering university programmes
The top section of the pyramid shows the last stage of ALIFIED CA(S
towards a career in chartered accountancy. Significant U
transformation strategy: those individuals who progress

A)
attention is given to undergraduate, postgraduate and

NEWLY Q
through university studies into training contracts and
ITC programmes.
who write the final qualifying examinations towards
To enhance the impact on and supply to the profession, becoming CAs(SA).
such efforts must be focused on producing better
results from a relatively small pool of qualifying
learners. The pipeline effect of the transformation
strategy is best depicted in the form of a pyramid. To
grow a pipeline for the profession, the transformation NHLAMULO KHOZA
initiatives target a large number of learners at school
level through career awareness and other initiatives. TBF beneficiary
Learners who show the required potential and ability Financial Manager: Group Risk, Finance
will also be reached through other initiatives such as and Operations division at Nedbank (2017)
the Development Camps discussed later in this report.
IN
TRA EE

ATE
DU
NTHULLENG MPHAHLELE
POSTGRA

TBF beneficiary
1st year trainee at Nedbank Ltd

AZILE NKABINDE
1st TBF beneficiary in the Top 10 spot of the ITC (2016) DERGR
2nd place in the University of Pretorias CTA class (2015) UN A

DU
CTS
JE

ATE
O
HOOL PR

HAMINA MULLAH
SC

Joint 2nd Runner Up: SAICA

Accounting Olympiad
Achieved 8 distinctions in matric MVELO HLOHPE
Student Leadership Summit Winner (2016)

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STRATEGIC ALLIANCE STRATEGIC ALLIANCE

THUTHUKA IMPACT ON THE SAICA VALUE CHAIN

(SINCE INCEPTION)
TERTIARY EDUCATION PROGRAMMES
SECONDARY EDUCATION Full-time CTA Programme: 2 580 bursaries
OUTREACH Part-time CTA Programme: 1 577 bursaries/support
Business Development Games: 2 165 learners Student leadership summit: 350 students and 30 business leaders each year
Career Awareness: over 1 million learners University support programme: 2 818 bursaries/support
Development Camps: over 20 000 learners Capacity-building programmes at HDIs: 8 608 bursaries
Junior Accounting Olympiad: 4 417 learners
Maths & Science Academy: 100 learners 761
TRAINEES OVER
Orphaned Learner Support: 9 000 learners IN THE
Senior Accounting Olympiad: over 30 000 learners PIPELINE 400
QUALIFIED
CAs(SA)

SAICA
INFANTS - PROSPECT MEMBER
PRIMARY SCHOOL HIGH SCHOOL TRAINEES (DISCHARGED
LEARNERS STUDENTS ITC AND AAT(SA)
LEARNERS AGA(SA)
PASSED ITC)
CA(SA)

THUTHUKA
BURSARY FUND

7 982
BURSARIES EXAMS
(ITC AND EMPLOYERS
APC)

PARENTS

PARENTAL SUPPORT 3 467

INITIATIVE PARENTS ITC REPEAT SUPPORT 1 316
PROGRAMME BURSARIES

934 APC REPEAT SUPPORT

BURSARIES PROGRAMME

EMS EDUCATOR
SUPPORT 257 EDUCATORS ACADEMICS TRAINING
TEACHERS OFFICERS
PROGRAMME CTA EMPLOYMENT ALLOCATIONS
TBF FUNDERS/TRAINING OFFICES
Public sector
Financial services
Commerce & industry
TERTIARY TRAINING Small & medium firms
SCHOOLS INSTITUTIONS OFFICES Large firms

HDI CAPACITY 3
SCHOOL GOVERNING 102 BUILDING UNIVERSITIES
ACCREDITED

BODY PROJECT VOLUNTEER TVET CFO

MEMBERS 41 PROJECT
MEMBERS

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CHAIRMENS REPORT CHAIRMENS REPORT

CHAIRMENS
REPORT
TBF AND TEUF
One of the values that the Thuthuka project teams always students enrolled at University of Fort Hare (UFH) to absorbed into the labour market and become active
endeavour to instil in the secondary school learners and complete their CTA. There was also the addition of two participants in the economy. The success of TBF has
university students they work with, is the importance of more universities to the programme, namely the UFH proven that the high, even audacious, goals of ISFAP are
perseverance in the journey to success. Our profession and Rhodes University. indeed attainable.
as chartered accountants calls for this seven years
Similarly, the TEUF schools programmes continued In what may also be seen as a daring step, Thuthuka
of hard work and training, and all the challenges one
to grow, both in terms of national footprint and their set itself the task at the end of 2015 to motivate more
encounters along the way, cannot be surmounted
impact. Their relevance and contribution to key national members in the profession actively to support and
without sustained determination. The continued
and SAICA priorities also became more evident (as seen participate in our initiatives. We are pleased to announce
challenges our countrys education sector faced in 2016
through our strategic picture on p14 & 15). Our career that 2016 saw us accomplish this, with more members
were once again a reminder of the importance of this
awareness initiatives in all nine provinces reached over committing themselves to projects such as our school
principle.
69 000 learners through exhibitions and symposiums, governing bodies programme; the CFO project in public
With continuously poor national rating in maths and Grade 9 career days and individual school visits. The hospitals and TVET colleges; as well as the TBF Pledge.
science, disappointing matric results and a higher EMS educator support programme piloted in four The TBF Pledge far surpassed its 2016 target of
education sector still grappling with the #FeesMustFall provinces reached 257 educators, and the parental R1.5 million to bring in over R2.6 million.
issue, the need to stay the course in our work to bring support initiative reached 3 847 parents.
We appreciate the support of the members in
about positive change has never been more evident.
A landmark moment in 2016 came when the Ministerial contributing to the success of these projects. Our targets
Whilst the difficulties remained, an inordinate amount task team set up to craft a sustainable funding solution would not have been met, let alone exceeded, without SIZWE E NXASANA AJEN SITA
of work is being done to turn the countrys education for the higher education fees crisis identified the TBF the support of the firms, Thuthuka alumni and individual
situation around. Thuthuka is proud to be a custodian model as the archetype for their solution. That solution, members, as well as our public and private partners in
of many initiatives to drive this reversal. We and our the Ikusasa Student Financial Aid Programme (ISFAP), which many members have a presence and help drive
THUTHUKA CHAIRMEN
partners understand that for many young South Africans, has now been approved by Cabinet, and is being piloted the Thuthuka message.
the only route out of poverty and towards financial at seven universities around the country for the 2017
We thank all our stakeholders for their valuable
freedom for themselves and their families whom many academic year. Of key significance to ISFAP is a learning
contribution towards achieving our successes. To our
of them help to support is through education. This is borne out by TBF: the importance of providing more than
funders, the schools and universities we work with, our
the reason why TEUF exists, and we are proud of the financial support to students. As with the TBF model,
students, as well as SAICA members: we thank you.
work we are doing to provide education opportunities ISFAP will be centred on the provision of full wrap-around
Your contributions are noticed daily, and we look forward
to young people, and to support their teachers and support to students, including social and psychological
to continuing our collaboration and inspiring more young
institutions. support. This gives them the best possible chance to
people to take up scarce professions and become the
succeed at their tertiary studies. Thuthuka is proud to
The impact of this work has been tremendous in drivers of our economy. To Chantyl Mulder and the SAICA
have pioneered an innovative student funding model
transforming our profession and increasing the pipeline Nation Building team who bring the vision of Thuthuka
that is not only renowned nationally and globally for the
of skilled people coming into the sector. Through one of to life: thank you for your dedication and perseverance SIZWE E NXASANA AJEN SITA
skills development and transformation it has brought
Thuthukas trademark initiatives, TBF, over 400 students in the face of the many challenges you encounter while CHAIRMAN (TBF) CHAIRMAN (TEUF)
to the accounting sector, but that will become a model
have now qualified as chartered accountants. The doing your work.
to benefit other scarce-skills professions that are vital
number of black and coloured CAs(SA) is now 5 968 in
for our economy including for example engineering, We look forward to seeing even greater results and more
2016, with over half (3 027) being female.
actuarial science, medicine and pharmaceuticals, and impact of our activities in the coming year.
The Thuthuka CTA programme expanded in 2016 as well. scarce humanities. As with TBF, ISFAP will centre on
The first cohort of Walter Sisulu University (WSU) CTA funding students for employability, so that they can be

16 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 17

MESSAGE OF THE EXECUTIVE DIRECTOR MESSAGE OF THE EXECUTIVE DIRECTOR

MESSAGE OF THE
EXECUTIVE DIRECTOR:
NATION BUILDING
Nothing great has ever been achieved
where people do not work together.
As a typical accountant, I admit that only since I started
our work through Thuthuka do I really understand the
meaning of the word consolidation. If we are to achieve
radical economic transformation, we simply have to work
together; there is no space for individualism.
To put it simply, our success equation looks like this:
STAFF + STAKEHOLDERS + DONORS + dedication
+ commitment + perseverance + passion =
consolidation = THUTHUKA
From the outset, the strength of Thuthuka has been
our stakeholders and our donors. We would never
have been able to have accomplished what we have
done thus far, had it not been for all those who have
played a part. To me, this is the very best example of
consolidation: adding it all together and showing that
there is real strength in teamwork and believing that we
can accomplish great things together! Thank you to our
stakeholders and donors. We could never have achieved
what we have without your support.
The Thuthuka staff have played and continue to play CHANTYL MULDER
a very important role. When you walk into SAICAs
EXECUTIVE DIRECTOR: NATION BUILDING When I think of what
Nation Building division, you cannot miss a big wall that my life was like and my
contains many certificates celebrating years of service.
So, when looking at the above equation again, youll see
circumstances were
that it all starts with the staff of Nation Building. Their like, had it not been for
commitment, dedication and perseverance have been
the keys to what has been achieved in this division. I
this bursary half of the
am reminded of a saying that goes: You arent going opportunities I have now
to find anyone who is going to be successful without
sacrifice and perseverance. These are the values that
(or perhaps all of them)
the Nation Building team have displayed and continue to would not be a reality.
display. Thank you to the best team in the world for your
C MULDER
dedication, commitment, passion and perseverance.
Siphosethu Ntswayi, TBF beneficiary
May your contributions towards radical economic and qualified CA(SA)
transformation and building our nation be met with
success year after memorable year!

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 SCHOOL
KwaZulu-Natal Thuthuka Project Manager Sister Ntsele (front centre)
with the learners from the KZN 2016 Development Camp

IMPACT
20 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 21
SCHOOL IMPACT SCHOOL IMPACT

WITH THE HELP OF

SCHOOL INITIATIVES
ONGOING DONOR SUPPORT,

47
SCHOOL ECO-SYSTEM
THUTHUKA RUNS
True collaboration school level
The strength of all the programmes that Thuthuka Through the power of collective collaboration, the
runs at school level is achieved through the support complex structure is indicative of a strong network
of powerful partnerships. The initiatives are linked to supporting the value-creating initiatives.
the beneficiaries through a network of relationships
developed over many years.

SCHOOL
CA
PROFESSION
(NATIONALLY)
DBE CORPORATES
& OTHER
PROVINCIAL PROFESSIONALS

DBE
PROGRAMMES
NATIONAL SAGE
A YEAR, IN

DONORS
SAICA

SCHOOLS
IRBA 9 PROVINCES
COUNTRYWIDE.
(LEARNERS,
EDUCATORS
THESE PROJECTS HAVE HAD A
PROGRAMMES AND PARENTS) POSITIVE IMPACT ON THE
LIVES & DECISIONS
EMS AND
DEVELOPMENT PARENTAL
CAMPS SUPPORT

1LEARNERS
OF MORE THAN

ACCOUNTING
OLYMPIADS
BUSINESS
GAME
MILLION
CAREER
PROMOTION
& EXTRA
CLASSES MATHS
LIFE
ORIENTATION
SCHOOL
BOOK
OVER THE
PAST 11 YEARS. MATH
MATTERS
ACADEMY
(MSAAS)
THE GOAL OF THUTHUKAS CHOOSE
SCHOOL PROJECTS IS TO CA(SA)
NECT
SPREAD TWO KEY MESSAGES:

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SCHOOL IMPACT SCHOOL IMPACT

SCHOOL INITIATIVES

3 467 MATHS & SCIENCE

ACADEMY FOR
ACCOUNTING
OLYMPIADS
SOUTH AFRICAN
MATHEMATICS OLYMPIAD
PARENTS
ALEXANDRA SCHOOLS In partnership with Sage One In partnership with SAMO
Funded by IRBA Making accounting an exciting Teaching high school learners
Gr 10 supplementary maths, subject choice for Gr 9, 11 and that maths matters
English, science and accounting 12
lessons for schools in Alexandra
272 000 1 100
LEARNERS TEACHERS
5 789 1 044
SCHOOLS SCHOOLS SCHOOLS

TOTAL SCHOOL 6SCHOOLS

300 100 8 775 85 000
INTERACTIONS 2016 LEARNERS LEARNERS LEARNERS

BUSINESS GAMES CAREER AWARENESS DEVELOPMENT CAMPS PARENT SUPPORT EMS EDUCATOR LIFE ORIENTATION (LO)
Teaching entrepreneurial skills Roadshows, school visits, Developing maths and INITIATIVE WORKSHOPS SCHOOL BOOK
symposiums, etc. accounting skills for Teaching parents the importance Teaching assistance Textbook and teaching guide
Gr 12 learners of the right subject choice for EMS educators for Gr 9 LO curriculum

311 1 698 122

SCHOOLS SCHOOLS SCHOOLS

2 100 69 823 3 054 3 476 257 130 000

LEARNERS LEARNERS LEARNERS PARENTS EDUCATORS COPIES

843
TEACHERS

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SCHOOL IMPACT SCHOOL IMPACT

SCHOOL INITIATIVE HIGHLIGHTS

Thuthuka initiatives produce top matrics
Every year, Thuthuka runs and sponsors various Year after year, we see that participants in these
Olympiads, academic support programmes and interventions have an advantage over their peers going
development camps to recognise academic talent and into their final matric exams. The results in 2016 were
nurture an interest in pursuing the CA(SA) designation no different:
as a career.

BYRON
CHRISTOU Byron Christou, the national winner for SAICAs Accounting
Olympaid, clinched seven distinctions in his matric exams.

NICHOLAS
KROON
Nicholas Kroon, winner of the 2016 South African Maths
Olympiad, achieved an astonishing 100% for mathematics,
alongside seven other distinctions.
HAMIMA
MULLAH
CAYLEY Hamima Mullah and Cayley Tarr, who shared the joint
second runner-up position for the SAICA Accounting
TARR
Olympiad, both ended their matric year in triumph
with eight distinctions each.
Thuthuka isnt just about
BUSISIWE financial support, it also
SIBIYA
Busisiwe Sibiya, a matric learner who attended the
Mpumalanga Development Camp, achieved six distinctions.
provided training to me as an
individual. Training, not just
to be a competent or smart
SBONGISENI
technical CA(SA) but training
ZONDI
Sbongiseni Zondi, who attended the Kwa-Zulu Natal to be a responsible person in
Development Camp, scored three distinctions including society who wants to go out
scoring full marks for accounting.
there to make a difference.

Itumeleng Mabusha, TBF beneficiary

and 2nd year trainee

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 UNIVERSITY
The success of Thuthuka is a collaborative effort shared by the entire team
(Pictured: The Thuthuka Administrative team (Jane Seate, Julia Nhlanhla and Lorraine Phiri))

IMPACT
28 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 29
UNIVERSITY IMPACT UNIVERSITY IMPACT

49
UNIVERSITY ECO-SYSTEM THROUGH

UNIVERSITY INITIATIVES
True collaboration University level
As is the case for the programmes at school level, Again, the initiatives are linked to the beneficiaries
the strength of the programmes that Thuthuka runs through a complex network of relationships developed
at university level is achieved through the support of over a long period. The end results are strong, value-
powerful and collaborative partnerships. creating initiatives.

SM AL
G SECTO
MININ TIONS
DA
L
FIRMS
R

FOUN & MEDIUM FIRMS

LARGE IAL SECTOR

UNIVERSITY
PROGRAMMES
C
FINAN RCE & INDUSTRY
O M M E
C
IDUALS
INDIV

OVER
CORPORATE
DONORS
PUBLIC
SECTOR
FASSET

25800
Y
SIT

NSFAS BANKSETA
VER

SCHOLARSHIPS,
UNI

ND
CAPE

TAN

SRA
AL

URG
U NAT

TE

CH
POLI

TER
TERN

ESB
E STA

NBOS

NATIONAL
N
ITWA
E

ETRO
TOW

BURSARIES AND
ITY

RESEARCH
ORT HAR

IA

ANN
WA-ZUL

IMPOPO
HE WES

THE FRE
PRETOR

FOUNDATION
NIVERS

STELLE

F THE W
ELA M
SITY

F CAPE

F JOH

FIRST RAND
UNIVERSITY OF K

UNIVERSITY OF T
UNIVERSITY OF F
UNIVERSITY OF L

RHODES UNIVER
NORTH WEST U

NELSON MAND
UNIVERSITY OF
UNIVERSITY OF
UNIVERSITY OF

UNIVERSITY O

FOUNDATION
UNIVERSITY O
UNIVERSITY O

NATIONAL

SUPPORT INITIATIVES
SKILLS
FUND
DONORS

16
PROGRAMMES HAVE BEEN PROVIDED TO STUDENTS AT

SAICA
THUTHUKA UNISA CTA
BURSARY SUPPORT
FUND

ACCREDITED
FULL-TIME
CTA
PROGRAMME
APC
REPEAT UNIVERSITIES
THUTHUKA
UNDERGRADUATE
SUPPORT
PROGRAMME
CAPACITY
BUILDING
PROGRAMME NATIONWIDE.
UNIVEN
THE GOAL OF THUTHUKAS
UNIZULU
UNIVERSITY PROJECTS
IS TO MAXIMISE THE
THROUGHPUT PASSES OF
STUDENTS WHO GO ON TO
WSU QUALIFY AS CAs(SA).

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UNIVERSITY IMPACT UNIVERSITY IMPACT

UNIVERSITY INITIATIVES
THUTHUKA BURSARY FUND UNDERGRADUATE SUPPORT PROGRAMME
Supporting financially needy African FOR NON-THUTHUKA STUDENTS
and Coloured aspiring CAs(SA) at Funded by Fasset

16 university Academic and career support for 2nd and 3rd year
African and Coloured students
UNIVERSITIES

9 6
OVER UNIVERSITIES UNIVERSITIES

4 000
STUDENTS
745
STUDENTS
938
STUDENTS

TOTAL UNIVERSITY
INTERACTIONS 2016 POSTGRADUATE PROGRAMMES

APC SUPPORT CAPACITY-BUILDING FULL-TIME CTA RESPONSIBLE

PROGAMMES PROGRAMMES PROGRAMME LEADERSHIP
UNDERGRADUATE PROGRAMMES Funded by Fasset Building capacity at Funded by National Research Instilling responsible
Part-time academic and historically disadvantaged Foundation leadership traits (3rd year
skills support for repeat universities through Supporting graduates from TBF students and CTA
APC candidates accreditation Thuthukas undergraduate students)
programmes throughout their
CAPACITY-BUILDING CAREER PROMOTION STUDENT LEADERSHIP postgraduate studies
PROGRAMMES Enhancing the awareness SUMMIT (SLS)
Building capacity at historically of the CA(SA) designation
disadvantaged universities among BCom students
Main sponsor: Standard Bank
Instilling responsible leadership 11
UNIVERSITIES
through accreditation in aspiring CAs(SA)

16 265 UL 510 510

POSTGRADUATE
UNIVERSITIES STUDENTS ACCREDITATION STUDENTS STUDENTS

WSU &
UNIZULU 16 220
FIRST UNIVERSITIES ENTRANTS
GRADUATES

THUTHUKA STUDENTS IN
CTA TOP 10 7th HARINA NDABA

1 st
WITS
PORTIA NGOMANE
UFS

32 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 33

UNIVERSITY IMPACT UNIVERSITY IMPACT

UNIVERSITY INITIATIVE HIGHLIGHTS

Azile Nkabinde: first Thuthuka student First group of CA stream students
to make the ITC Top 10 graduate at Walter Sisulu University
Aziles love for accounting started when she attended a and the University of Zululand
SAICA Development Camp at Durbans Adams College It has been four years since Walter Sisulu University
during her Grade 11 year. This experience caused Azile (WSU) and the University of Zululand (UniZulu)
to reassess her career choices, and she decided to embarked on their journeys to gain SAICA accreditation
apply to TBF so she could study towards a BCom at the for their four-year BCom degrees.
University of Pretoria (UP) and become a CA(SA).
On 12 April 2016, thanks to much-needed financial aid
In 2016, Azile became the first Thuthuka Bursary Fund from the Department of Higher Education and Training
recipient to make the top 10 of SAICAs Initial Test of (DHET) and BANKSETA as well as academic support
Competence (ITC). from the University of Cape Town and the University of
Aziles message to the donors who help fund AZILE WSU & Johannesburg, these efforts bore fruit when
Thuthukas bursaries is: Thank you for doing such an NKABINDE UNIZULU
27 students from WSU and seven from UniZulus initial
2012 cohort graduated.
important job and investing in us as students!

University of Limpopo (UL) now fully

accredited to produce chartered
accountants
ULs Postgraduate Diploma in Accountancy (PGDA) is
now recognised by SAICA for entry into the first of
its professional examinations, the ITC. This in addition
to accreditation of its undergraduate programme,
which SAICA granted in 2014, means that UL students
no longer have to move to another CTA-accredited
university for the last year of their studies. They can

UL
now complete all four years of study at UL before
entering a three-year training programme, writing
SAICAs two professional examinations and registering
as CAs(SA).
ULs postgraduate degree accreditation would not have
been possible without
the partnership between the University of
Johannesburg (UJ) and UL to provide the
appropriate capacity-building support and staff
development;
continued financial support from the National Skills
Fund; and
the leadership of the UL. Their vision and continued
support for the implementation of this capacity-
building project was of vital importance.

34 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 35

 The Thuthuka TV ad encouraged South Africans to partner with us

THUTHUKA
IN THE MEDIA
36 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 37
THUTHUKA IN THE MEDIA THUTHUKA IN THE MEDIA

THUTHUKA IN THE MEDIA

Over the past year, the success of Thuthuka and its various projects and beneficiaries was showcased
in the media over 500 times. With media coverage spanning across both regional and national media THUTHUKA FLIGHTS ITS
channels (online, print, radio and television), Thuthuka received twice the amount of publicity in 2016
as it has in previous years. In increasing its brand awareness through the media, Thuthuka was able to
FIRST TV ADVERTISEMENT
promote the importance of the great work it does and drive new partnerships and donor opportunities. TBF created a heart-warming TV
advertisement to drive pledges for the
fund. Thanks to the generosity of DSTV,
the advertisement was shown between
37%
NATIONAL
14%
RADIO
10 November and 30 November 2016
across numerous channels including
Vuzu (Channel 116), Kyknet (Channel 114),
M-Net City (Channel 115), M-Net Smiles
2% (Channel 105), SuperSport Blitz (Channel
TV 200), SuperSport 1 (Channel 201),
MEDIA MEDIA SuperSport 2 (Channel 202), SuperSport 3
COVERAGE COVERAGE (Channel 203) and SuperSport 4 (Channel
REACH BY CHANNEL 204).

47%
PRINT

63%
REGIONAL
36%
ONLINE

THUTHUKA
RECEIVED DOUBLE
THE MEDIA
COVERAGE IN 2016
AS IT DID IN 2015

To view the advert, either

scan this code or visit
https://www.youtube.com/
watch?v=-ZSnv_xjgKE

38 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 39

 SAICA Chairman, Gil Gorgulho, spends time chatting to the SLS Top 30

GOVERNANCE AND
RISK MANAGEMENT
40 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 41
GOVERNANCE AND RISK MANAGEMENT GOVERNANCE AND RISK MANAGEMENT

THE THUTHUKA BOARDS

In the year under review, the Thuthuka Bursary Fund Every member of the Thuthuka Boards participates
Trustees and the Thuthuka Education Upliftment Fund on a voluntary basis as part of their commitment to
Board of Directors (collectively referred to as the transformation. The members of these governance
Thuthuka Boards) ensured that they provided effective structures are senior and professional stakeholders
leadership through the adoption and application of good representing the CA(SA) sector, academia, commerce
corporate governance practices based on the principle and industry.
that strong corporate governance is central to ensure THE
the sustainability of Thuthuka.
RESPONSIBILITIES
OF THE BOARD
INCLUDE:

The Thuthuka Boards have a management To provide effective leadership based on an ethical
agreement with SAICA for the use of SAICA staff foundation.
and infrastructure. The agreement governs how
To ensure that Thuthuka is, and is seen to be, To approve all funding proposals relating to a To monitor the outputs of projects in terms of
governance and reporting take place. The terms of 01 05
a responsible corporate citizen by giving due period in excess of three years and R10 million stated objectives, as well as the strategic plan;
reference may be summarised as follows:
consideration not only the financial aspects of the put forward to donors, for projects in terms
To act as the focal points for, and custodians business, but also to the impact that business 06 To liaise with external stakeholders and
of the overall transformation plan under the
of, corporate governance by managing their operations have on the environment and the donors, should the need present itself; and
Thuthuka name;
relationships with management, the members, society within which it operates. To review the quarterly budgets compared
and other stakeholders along sound corporate 02 To establish and maintain organisational 07
To ensure that Thuthuka has an effective and to actual figures, and obtain reasons for
governance principles. structures that will ensure the carrying out of
independent audit committee. variances as it relates to donor funded
the Boards duties;
To appreciate that strategy, risk, performance and projects.
To assume responsibility for the governance of To review internal control structures, including
sustainability are inseparable, and to give effect to 03 Directors receive information on their duties
risk. financial controls, accounting systems and
this by: and responsibilities, as well as the risks facing
To ensure that Thuthuka complies with relevant reporting;
-- contributing to and approving the strategy; Thuthuka on an annual basis.
laws and duly considers adherence to non-binding To monitor Thuthukas compliance with legal
04
-- satisfying themselves that the strategy rules and standards. requirements;
and business plans do not give rise to risks
To ensure that effective risk-based internal audits
that have not been thoroughly assessed by
are undertaken.
management;
To appreciate that stakeholders perceptions affect
-- identifying key performance and risk areas;
the companys reputation, and that this awareness
-- ensuring that the strategy will result in is incorporated in relevant communication
sustainable outcomes; and strategies.
-- considering sustainability as a business To ensure the integrity of any information about
principle that guides strategy formulation. Thuthuka included in reports/reporting.
To evaluate the performance of management.

42 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 43

GOVERNANCE AND RISK MANAGEMENT GOVERNANCE AND RISK MANAGEMENT

A SITA

TBF TRUSTEES S NXASANA

Deputy Chairman
Ernst & Young CEO
Chairman
NSFAS Chairperson
Chairperson of the Missing Middle
Ministerial Task Team: ISFAP

LL BAM
SUSTAINABLE Large Firms Representative
FUNDING Deloitte Southern African CEO
Deloitte Africa CEO
ADVANCING
EDUCATION MJN NJEKE
Silver Unicorn Training 33 (Pty)
Limited Chairman

T MAKWETU
Auditor General SA:
TM NOMBEMBE Auditor-General
SAICA CEO

A VAN DER WATT R MORATHI

HoD: Department of Accountancy Nedbank Group Limited CFO
University of Johannesburg
VM SEKESE
SizweNtsalubaGobodo CEO

EMPOWERING
YOUTH

MR BOUWER D SHANGO
SP KANA Individual Capacity PwC Southern Africa CEO
Individual Capacity

M VILAKAZI
M RUNGQU
MMI Holdings Limited Group CFO
IDC SA Account Manager
Agro Industries SBU

44 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 45

GOVERNANCE AND RISK MANAGEMENT GOVERNANCE AND RISK MANAGEMENT

TEUF BOARD OF DIRECTORS

EMPOWERING
YOUTH

A SITA
Chairman
Ernst & Young CEO LL BAM
Deputy Chairman
SUSTAINABLE Large Firms Representative
FUNDING Deloitte Southern African CEO
Deloitte Africa CEO EJ CARELSE R NCUBE A TIMOL
AK MOHAMMED Southern Region Northern Region Eastern Region
SAICA Senior Executive: Finance Representative Representative Representative
SAICA: Office of the CEO

RISK MANAGEMENT
Thuthukas strategy defines the future
direction of the organisation. Risk is inherent
in the business activities, in achieving the
strategic objectives and in maximising the COMBINED
opportunities that arise. ASSURANCE
The Thuthuka Boards are responsible for
K SWANEPOEL determining Thuthukas risk tolerance
Central Region Representative level. Management is responsible for the
HoD: Centre for Accounting implementation of the risk management
process, which involves the identification,
3RD LINE OF DEFENCE:
University of the Free State

S
ADVANCING evaluation, prioritisation, mitigation and EXTERNAL ASSURANCE

ES
EDUCATION monitoring of risks throughout the two
INTERNAL EXTERNAL

OC
entities.
AUDIT AUDIT
Matters relating to risks are discussed at

PR
management meetings, and in order for the
risk management process to be effective
and practical, risks are linked to performance 2ND LINE OF DEFENCE:
T MAKOFANE management processes. This results in MANAGEMENT ASSURANCE
ABASA Representative risks being integrated and accounted for at
Managing Director: Tamela Holdings FRAMEWORKS
strategic, as well as at operational levels.
Significant risks are reported to, and relevant
action approved by the Audit and Risk LEGAL & CONTROL SELF -
ERM
Committee of SAICA and by the Thuthuka GOVERNANCE ASSESSMENTS
Boards.
The diagram on the right describes the
combined assurance model of the SAICA 1ST LINE OF DEFENCE:
Group (to which the Thuthuka entities belong) MANAGEMENT
A VAN DER WATT that informs the Board and Audit and Risk
HoD: Department of Accountancy Committees assessment of internal controls.
ZP ZATU University of Johannesburg
PEOPLE
AWCA Representative

46 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 47

 SAICA staff get behind Thuthukas Mandela Day pledge campaign

POWERFUL
(Pictured: Teboho Moephudi, John-Paul Bagley and Didi Monnakgotla)

PARTNERS
48 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 49
POWERFUL PARTNERS POWERFUL PARTNERS

YOU CAN HELP THUTHUKA

PARTNER WITH THUTHUKA AND HELP US IN A NUMBER OF WAYS: HOW CAN
BUILD THE NATION YOU HELP?
(B-BBEE CODES AND CHARTER)
The revised B-BBEE codes, which came into effect in to the overall B-BBEE codes, is to grow the number of
May 2015, state that if your company has a revenue African and Coloured people in the CA profession to
of more than R50 million, you need to place a larger reflect the countrys population demographics, and to
emphasis on high priority status areas like skills empower and enable them to participate meaningfully Make a financial
development, enterprise development and supplier in, and sustain the growth of, the economy thereby contribution towards
development to maintain your B-BBEE compliance. advancing equal opportunity and equitable income a students fees.
distribution.
In addition, the CA(SA) profession intends to have
its sector codes (CA Charter) gazetted by the end of Below is a brief overview to explain how investing in
2017. The vision of its sector codes, which is aligned Thuthuka can help you earn the points you need.
Tell your circle of friends
about Thuthuka and
Optimise your B-BBEE scorecard by directing your spend towards building South Africa what we do.

Proposed
financial
B-BBEE element Services to be rendered Comments
investment by
client

ENTERPRISE 1% of NPAT Annual contributions The vision of the CA sector is to grow the number Share your business
DEVELOPMENT or 0.125% of to historically of Black people in the CA profession to reflect contacts with Thuthuka
SUPPLIER turnover disadvantaged the countrys population demographics. One of for fundraising purposes,
DEVELOPMENT institutions made by the key ways in which to achieve this objective is
the measured entity to grow the pipeline through capacity building at and encourage businesses
to capacitate them the historically disadvantaged institutions, thereby you work with to make tax
in developing future ensuring that the quality of all the degrees obtained deductible donations, or to
Black CAs (expressed at these institutions is on a par with those of
as a percentage of the the accredited universities. This is seen by the collaborate with Thuthuka as
target) profession as supplier development, as these
Initiate fundraising a project sponsor or funder.
universities provide the employers with future
employees. ideas to support
Thuthuka projects
SKILLS 4% of NPAT or Specific bursary Measured entities will be encouraged to direct and students.
DEVELOPMENT 0.5% of turn- expenditure on current their contribution through Thuthuka, indicating for
over and potential Black what purpose the amount is paid as well as to
employees, which which institution the funding should be allocated.
includes amounts spent As SAICA currently has programmes at all the
on the TBF (expressed historically disadvantaged institutions it will account Share information about
as a percentage of NPAT to the CA Charter annually on monies received and
or turnover) spent. Thuthuka with your Facebook
and Twitter contacts. Invest your skills
development, supplier
SOCIO- 1% of NPAT Annual value of all socio- The aim of B-BBEE initiatives in the CA sector is to development and socio-
ECONOMIC or 0.125% of economic development significantly increase the number of Black people economic development
DEVELOPMENT turnover contributions made who manage, own and control enterprises in the
by the measured sector, as well as to contribute to decreases in spend in Thuthuka
entity (expressed as income inequalities in the country in general. This projects and students.
a percentage of the is to be achieved by means of an integrated and
target) coherent socio-economic process that directly
contributes to the economic transformation of
South Africa.
Note: all donations are tax deductible.
Companies can obtain B-BBEE point by
supporting Thuthuka

50 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 51

 POWERFUL PARTNERS POWERFUL PARTNERS

POWERFUL PARTNERSHIPS
Thuthuka thanks its partners for your confidence in us,
THUTHUKA COMPANY
and for your continued support. PLEDGE DAYS RAISE
Thank you to the following organisations
Your investment and partnerships enable us to achieve (listed alphabetically) for partnering with OVER R300 000
what we did during the past year and have empowered
us to help thousands of learners and students to realise
us on our journey: In partnership with the major auditing firms and SAICA
their potential. regional offices, TBF hosted Pledge Days around the
country to get individuals to contribute towards bursaries
Allan Gray for aspiring CAs(SA). Together, these events raised over
Anglogold Ashanti Ltd R300 000 for TBF.
Accountants-On-Site Atcor
Special thanks goes to KPMGs employees, who raised a
fantastic R150 000 in October.
Eastern Cape Export Credit Financial
AWCA BDO Department of Insurance Services
South Africa Inc Datatec Ltd Deloitte Education Corp of SA Board

BANKSETA BMW Financial De Hoek Discovery Ernst & Young FASSET

Services (Pty) Ltd Health (Pty) Finvision
Ltd

First Rand
NEDBANKS 2016 SA CHARITY GOLF
Investec
Interest
Industrial
Development
Foundation DAY RAISES R195 000 FOR ASPIRING
Donations Corp Hudaco Grant Thornton Fulton Trust
CHARTERED ACCOUNTANTS
JSE Empowerment Investec Imperial Hach SA Gauteng Free State In September, over 300 golfers descended on Englands Burhill Golf
Trust Donation Group Department Department
Limited of Education of Education Club with one aim in mind: to raise funds for seven life-changing
KMPG Key Delta
Foundation Donation projects that nurture holistic childhood development and help end the
JSE Limited
poverty cycle in vulnerable South African communities. The Thuthuka
National Education National National
KPMG Kagiso Tiso Murray & Collaboration Trust Skills Fund Treasury Bursary Fund was one of these charities receiving a generous
Holdings Roberts R195 000 from the Nedbank SA Charity Golf Day 2016 event.
Kwa-Zulu Natal
Department of Education
National Research Nedbank
KZN Mpumalanga Multichoice Foundation
Treasury Mkhiwa Department Support Services
Lexis Nexis Trust of Education Nedbank SA
Charity Golf
Limpopo Mazars MMI
MTN Day COMEDIANS STAND
Department
of Education
Group Ltd Northern Cape
Department of
Education
Nexia SAB&T UP TO HELP FUND TBF
Office of the
Auditor-General STUDENTS
North West
SA Revenue RSM Betty & PKF Rademeyer Department
Services Dickson Protea Hotel Wesson of Education In November, five of SAs finest comedians joined
Pick & Pay
Retailers (Pty) Ltd forces with TBF to host an exclusive comedy show to
SA Reserve Remgro PricewaterhouseCoopers Pioneer Foods Telesure raise funds for aspiring CAs(SA).
Bank Management Education Tailor Me Group
SAGE
Services Ltd Services Held at Parkers Comedy Club in Monte Casino, the
event featured the talents of Kagiso Lediga, Tyson
Sasol Group Sphere Shoprite
SAICA Services SizweNtsalubaGobodo Holdings Checkers Standard Telesure
Ngubeni, Ebenhaezer Dibakwane, Tshepo Mogale and
Bank I-Cars Initiative Mo Mothebe, who participated in the event pro bono
Sanlam Shoprite SPJB Business so that all proceeds could go to TBF. The event raised
SkyNet The
Foundation Trust Checkers and Financial Boardroom R42 339.
Advisory (Pty) Alliance
Ltd (Pty) Ltd
Western Cape The Coca-Cola
Woolworths Department of University Transnet
MySchool Company
Education of the Free State Soc Ltd
Rewards

The Independent
WDB Investment University The Ivan Regulatory Board
Holdings of Limpopo Miosic Trust for Auditors
52 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 53
POWERFUL PARTNERS POWERFUL PARTNERS

FRIENDS OF THUTHUKA
Thuthuka thanks the following individuals and
companies for assisting us in specific fundraising
projects this year:

Kagiso Lediga

Tshepo Mogale

THUTHUKA Tyson Ngubeni

COMEDY Pfanani
SHOW Ebenhaezer
Dibakwane
Mo Mothebe Netshilinganedza
Mpho
Ntshudisang

TOTAL RAISED:
R42 339 Pixelant Bongile Henry
Media James Magosha
Joy
Setsoane Mokhutsane
Makhajne
Mandlakazi

Nangamso
Charity Mncwati
Simamane

NEDBANK
Margo
Thomas SA CHARITY
TOTAL RAISED: GOLF DAY
R195 000

Leeroy Jason
Photography

THUTHUKA
First Rand De Hoek
COMPANY Thanks to Thuthuka, I am
PLEDGE now qualified with a world-
Sindiso Nyoni Protea Hotel
DAYS class qualification and
TOTAL RAISED:
OVER designation. Thuthuka helped
R300 000
shape and mold me into the
Candy Eaton Charity Simamane
person I am today
(RSM South Africa) (PwC) Palesa Makobe
(KPMG)

Michellene Barnes, TBF beneficiary

Marion Veldtman Penelope Witstock and qualified CA(SA)
Lucille Pickersgill (Auditor General (EY)
(Mazars Johannesburg) Western Cape)

54 // THUTHUKA IMPACT REPORT THUTHUKA IMPACT REPORT // 55

 The Thuthuka Bursary Fund (TBF) is registered in South
Africa in terms of the Trust Property Control Act, No. 57
of 1988,
REGISTRATION Trust Number: T459/88
DETAILS
The Thuthuka Education Upliftment Fund (TEUF) is
registered as a public benefit organisation in terms of
section 18(A) of the Income Tax Act.
PBO taxation exemption number: 930010287

CONTACT
DETAILS
Physical Address: Postal Address:
17 Fricker Road Private Bag X32
Illovo Northlands
Sandton 2116
Johannesburg
2196

Tel: +27 11 621 6600

Email: [email protected]
(please mention Thuthuka in the subject line)

Keep in touch:
www.facebook.com/ThuthukaSAICA
https://twitter.com/saica_ca_sa

Companies can contact:

Didi Monnakgotla
TBF Business Development Manager
011 621 6653
[email protected]
LOOKING TO
INVEST IN
THUTHUKA?
The Thuthuka Pledge Campaign:
Individuals can join the Thuthuka Pledge Campaign by
donating R500 or more to the Fund online at
www.saica.co.za/thuthuka or do a direct deposit to:
Acc name: The Thuthuka Bursary Fund Trust
Bank: Standard Bank
Branch code: 000205
Acc number: 000241199
Acc type: Current Account
Reference: TBF Pledge

Remember to make the Thuthuka Bursary Fund a

beneficiary of your MySchool Card, Investec Dividends
and Nedbank Greenbacks Rewards Programme.

www.saica.co.za/thuthuka