Following the South African Institute of Foundrymen’s 57th AGM held on Tuesday, 20 September 2022, at the Balgravia Bowling Club in Bedfordview, Gauteng one new director was elected to serve on the board of the SAIF for the following year (2022/2023). Continuing on as Directors are Nigel Pardoe, Clive Jones and Didier Nyembwe.

Earlier this year the Chairperson Glen Dikgale resigned before his term was up and Janley Kotze acted as the Chairperson until the AGM. Janley has now resigned as a Directo,r as has Enno Krueger, who was also the treasurer.

The MOI of the SAIF requires that the Board of Directors will consist of not less than three (3) and not more than seven (7) directors, one third of whom will retire each year in rotation.

Joining the board is Andrea Moz, CEO at Auto Industrial Group and NAACAM Vice President. Andrea Moz was born in Port Elizabeth, Eastern Cape and exposed to the motor industry at a very young age, as his father worked for Ford Motor Co. Following graduating from Wits University, Andrea qualified at Ernst and Young as a CA (SA). He first joined Auto Industrial Group in 1994 as Group Financial Manager, became the Chief Financial Officer in 1998, and took on the role of Chief Executive Officer in 2006.

Andrea has held many positions outside of Auto Industrial, including Vice President at NAACAM, President of the Italian SA Chamber of Commerce, ASCCI executive and Vice President of SEIFSA, amongst others.

It was noted that although the SAIF incurred substantial losses during the last two financial years, large amounts of this loss can be attributed to depreciation costs of capital equipment. It was also noted that for the running costs of the SAIF, it should not take bank interest as a source. Other sources of income need to be secured.

The Annual Financial Statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance future operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course of business.

For further details visit www.foundries.org