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Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

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Section D : Challenges

17. Present and Future Activities

17.6 Socio-Economic Development


The changing nature of the economic landscape in our country is resulting in a review of our values and social responsibility. It is the view of SAICA that it can play a leading role in the development of socio-economic development in South Africa. This is also in line with SAICA's mission is to run and facilitate programmes to transform the profession, and to facilitate community upliftment.


In early 2005, SAICA developed a socio-economic development strategy that was approved by the SAICA Board. Three flagship projects were selected: The Hope Factory, the Black Entrepreneurship Programme and the Member Giving Programme.




The Hope Factory

Number of people trained and jobs created

A training and job creation project, aimed at wealth creation. It consists of two divisions, namely a training division and a job creation division:

The training division, which is a three-month integrated programme teaching business, technical and life skills, as follows:

o Technical skills: sewing, pattern making, paper products, beadwork, crochet
o Business skills: basic entrepreneurship and small business skills
o life skills: for example communication, interview skills, time management, HIV/AIDS.

Throughout the process The Hope Factory provides mentorship, evaluations, advice and support. It also offers networking opportunities, contacts with other training centres and employment opportunities. During the course, learners meet with a mentor on a monthly basis to discuss their future options. Mentors then follow up with each learner for a two-year period after they have graduated from the course.

On completion graduates either start their own small business, seek formal sector employment, study further or join the job creation project.

The job creation division provides graduates with an opportunity to earn an income and gain work experience. Graduates are employed on a contract basis, and they manufacture products for the corporate gift, conference and tourist market.


The black entrepreneurship programme

The aim of the project is to partner with black entrepreneurs and their businesses to assist with providing training, consulting and mentoring.

Number of black entrepreneurs assisted (this is done with the assistance of the teaching profession

The Member Giving Programme

Via this project members and firms receive the opportunity to participate in socio-economic development, by contributing to the Thuthuka Bursary fund. This is done firstly by setting up an online giving website and secondly by marketing and communicating the function of the website to members and firms.

Number of bursaries provided

Building financial capacity In the public sector

SAICA will oversee projects to assist the public sector in building financial capacity where needed. The first project identified is 15 municipalities in the Gauteng area. This will be a private I public sector partnership, with the 'private sector' consisting of the CA sector.

Improvement within the public sector