“It has been invaluable to see that what was lacking in our board was deep financial understanding. There has been a great improvement in terms of proper financial reporting and financial management, as well as in the analysis of which levers make the business more profitable.”
The People’s Fund COO, Yolisa Jafta.
Utilising the Sirdar methodology, good governance practices such as a formalised board process and structured meetings were instituted. Weekly Exco meetings (between the COO, CEO and chairperson) are now held and have provided the platform to discuss matters that need to inform the board meeting, what needs to happen in the business and who is responsible for actions. The result is a hassle-free, smooth-running, and well-functioning board.
All of the board members attended Sirdar’s Applied Directorship Programme to gain insight into what it means to be a high-performing director and a cohesive board.
Most recently, Sirdar assisted with appointing a non-executive independent director for the business.
Formalising The People’s Fund’s board process resulted in exponential year-on-year growth since its inception. Turnover increased tenfold in the latest financial year, and the board will continue targeting similar growth going forward. In its most recent financial year, the company was also able to declare a dividend.