WESSA Annual Review 2022

PROJECT SALES

continue operations. To do so, it is important for WESSA to establish a viable operating reserve to maintain sufficient cash reserves and financial flexibility to continue operations. The new Fundraising and Investment Board committee has met, this committee and the Fundraising/Business Development Manager that will be appointed early in 2023 will be crucial to improving cash flow.

Project sales for the 2021/22 financial year increased by 38% in comparison to the previous year. The previous year was indicative of the impact of the COVID19 pandemic. In the financial year under review there has been an increase in due to continuation of operations and extensions of already existing projects.

Project funding fluctuates regularly, and it is imperative that WESSA has enough reserves to

R 97 M

R 83 M

R 84 M

R 77 M

R 76 M

R 61 M

R 47 M

R 34 M

2015

2016

2017

2018

2019

2020

2021

2022

WESSA’S 10 MOST FINANCIALLY SIGNIFICANT PROJECTS IMPLEMENTED DURING THE FY 2021/22

DEA NRM Groen Sebenza

RMB

MrP - 20 Schools in Qwa Qwa

WESSA’S 10 MOST SIGNIFICANT PROJECTS IMPLEMENTED DURING THE FY 2021/22

DEA NRM Training & Capacity Development

WWF Journalism Training

VVOB

Tourism Blue Flag Project 2

NYRI Youth Ambassador Network

South 32

CONCLUSION

from project funding which fluctuates regularly, and it is imperative that WESSA has enough reserves to continue operations. To do so, it is important for WESSA to establish a viable operating reserve to maintain sufficient cash reserves and financial flexibility to continue operations. The Fundraising and Investment Committee has been constituted, and together with the imminent appointment of a Fundraising Manager early in 2023, we expect to see a radical improvement in our cash flow.

Although the comprehensive deficit for the year amounts is more than the prior year, operationally there was an improvement. The increase in deficit is mainly attributable to the increase in bad debts, decrease in income in comparison to prior year (due to high donations income) and a provision for a water bill charged to Umgeni Valley which is currently being disputed.

WESSA has a high reliance on income derived

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