LOCAL NEWS
Sappi results show recovery
Sappi ’ s results in the first financial quarter of 2021 have shown a recovery compared to the previous quarter . According to Sappi CEO , Steve Binnie , there has been a continued recovery in Sappi ’ s results over the past nine months .
“ EBITDA improved progressively from a low of USD26-million in our third quarter of 2020 due to the impact of Covid-19 to USD98-million for the first quarter of our 2021 financial year . I am confident that our recovery is on track despite the ongoing negative effect from Covid-19 ,” says Binnie .
“ As a group we outperformed the guidance provided at the end of the last quarter with profitability across all reporting segments exceeding expectations . During the quarter , the global surge of Covid-19 infections and the related employee absenteeism put all of our operations under pressure . In spite of the unprecedented obstacles that have arisen as a result of the pandemic and through the dedication and resilience of our workforce , our mills remained fully operational .”
Looking forward , Binnie stated : “ Despite the ongoing impact of Covid-19 , we expect profitability in the second quarter to improve relative to the first quarter . Ensuring the safety of our employees and supporting our customers and communities is a priority and our comprehensive Covid-19 action plan remains relevant and in place .”
New DEFF director-general
During a virtual meeting of Cabinet on 2 December 2020 , Nomfundo Tshabalala was appointed Department of Environment , Forestry and Fisheries ( DEFF ) director-general . Former director-general Nosipho Ngcaba had retired in June 2020 .
" The skills will assist the DEFF in turning around successive years of qualified audits . It will also assist in placing both the Marine Living Resources Act and the Kabelo Trust on a sound financial footing ," states the DEFF .
Environment , Forestry and Fisheries Minister Barbara Creecy and Deputy Minister Makhotso Sotyu both welcomed Cabinet ' s approval , adding that the appointment comes as a ‘ shot in the arm ’ for the newly-created department .
Tshabalala holds a BSc degree in economics and accounting and a MSc , focusing on development finance , as well as an MBL from Unisa . Her MBL focused on the leadership styles and corporate entrepreneurial behaviour in provincial government .
" The DEFF is honoured to welcome Tshabalala to our ranks . She brings with her a wealth of experience in public administration , economic policy and resource management ," says Creecy .
According to the department , Tshabalala ' s knowledge of economic development and public sector management will help the DEFF implement strategies and programmes in a constrained resource environment , and at a time when the country is implementing an economic recovery programme that has the so-called green economy as one of its six key sectors .
The DEFF also says Tshabalala has developed a strong reputation as a specialist in public finances , debt management and other methods that governments use to finance social and economic development . This has resulted in her working closely with peers in countries like Japan , Australia , and various East African countries to develop and exchange ideas on the management of public finances and government projects .
Tshabalala started her career in the Swaziland government ' s Department of Finance where she focused on development finance and the implementation and monitoring of internationally funded projects .
In 2000 , she joined the Gauteng provincial government working for the Gauteng Department of Finance and Economic Affairs as chief director . She was appointed head of the provincial Treasury in 2006 . Tshabalala ' s leadership and professionalism have been recognised through several awards including the National Batho Pele Excellence Awards – she received a gold medal for Best Head of Provincial Department , and silver medals for Best Functioning Department and Ethical and Professional Provincial Department .
She has also been recognised through Premier Service Excellence Awards , including being awarded gold awards for Leadership and Integrity , and a silver award for Sustainable Performance and Product Excellence .
www . timberiq . co . za // APRIL / MAY 2021 5