CHAIRMAN'S HALF YEAR REPORT 2009
(For period 20 August 2008 to 28 February 2009)

Dear Donor

In August 2008 the Chairman’s Report for 2008 was distributed to all those who have donated to the Trust over the past three years and this half year report is intended to keep donors ‘up to speed’ on M’dala Trust matters.

The Trust continues to successfully and efficiently meet its primary objective of providing regular support to our identified needy Zimbabwe pensioners who are resident in the Western Cape. Currently support is being provided monthly to 46 pensioners who each receive a Pick ‘n Pay gift card to the value of R800. This amount was increased to R1,200 for the month of December to try and ensure that their year end celebrations were just a little better. From all accounts the pensioners were again overwhelmed by the generosity of the support and were grateful that they could spend a little extra on special items.

The Trustees decided last year that there should be an attempt made to provide some financial support for limited urgent medical and dental costs incurred by pensioners, which they (or their family members) are simply not able to meet. This has progressed slowly, but small payments have been made for one dental expense and one optician’s expense. In addition, one wheelchair has been purchased to replace an old and unrepairable wheelchair brought from Zimbabwe.

Nearly all of our pensioners have South African registration which enables them to have access to government clinics and hospitals, and where they are able to be provided with their chronic medicines at no cost.

Our programme for cataract operation and hearing aid funding has continued, but there has only been a need to facilitate one recent cataract operation, which was the seventeenth that we have facilitated.

Two of our pensioners now need to be urgently admitted to frail care establishments and there may be one other within the next year. The Trustees have taken the decision that financial support (beyond the contributions that can be made by their family members) will be provided even though it is going to be an additional cost to the Trust each month. Economic frail care establishments presently charge a monthly fee of between R2,500 and R5,000, while the up-market establishments charge as much as R13,000 per month. Most of the economic frail care establishments are able to seek government subsidy for those who cannot afford to pay the full monthly fee. In the case of our two immediate pensioners it seems that an amount of between R2,000 and R4,000 each will be the additional cost each month.

Some quick mathematics will show that currently our monthly expenses are in the region of R40,000, but will likely increase to about R45,000 when the frail care costs are included. Annually our expenses figure will be a shade over R550,000.

Trustees have continued to meet every month except December to review, deliberate and decide on Trust matters. Trustee meetings are fully minuted and all Trustees are informed in detail of the Trust finances and approve all expenditure. The Trust accounts are comprehensively examined and audited each year, and an Annual General Meeting takes place in May or June.

Richard Rosenthal continues to provide a legal service to the Trust and our three care givers – Shane van der Mark, Anne Bishop and Peter Venter – continue to provide the critical regular link with the pensioners. Shane and Peter are both pensioners. Shane is scheduled to be admitted to the Nazareth House Frail Care Centre at the end of April and Peter is not as well as he could be.

Jackie Ferera, who is one of the longest serving and the oldest Trustee, has agreeably relinquished his position as a Trustee to be promoted to serve as a Patron. Ronnie Lange has been appointed to the Board to serve as a Trustee. Additional Trustees are likely to be appointed during the year as a number of our serving Trustees are senior business persons who cannot always devote large amounts of time to plan, manage and report on Trust projects, but who, nonetheless, are most willing and keen to be involved in all that the Trust stands for. They are also largely influential in the business community and are therefore able to encourage support and interest, as well as conceive and structure projects.

Fund raising remains a major concern for the Trustees and we are ever alert to any legal means of enhancing our Trust finances. Clearly, our function would not be possible if we did not have sufficient funds. In this regard our annual golf day remains our single biggest fundraising event and this year the event will be held again at Durbanville Golf Club on Thursday 15 October – within the school term and not clashing with any religious holidays. Notices will shortly be posted on our website and will be sent to our ever increasing players list.

Recently we were handed a substantial quantity of new One Hundred Trillion Zimbabwe Dollar bank notes and were encouraged to sell these for the benefit of the Trust. A single note is being sold at R100. Sales have been brisk with many buyers ‘investing’ in the largest denomination ever by the Reserve Bank of Zimbabwe. Should you wish to own any of these ‘historic’ bank notes you are asked to please contact the Chairman (021 715 0128 or by email - marleon@mweb.co.za).

Additionally, we have assembled a unique collection of Zimbabwe bank notes and arranged them in three glass floated frames. Currently the collection is missing four notes and these will be secured shortly. The collection includes the four Reserve Bank of Rhodesia bank notes (in pristine condition), all but three of the first Reserve Bank of Zimbabwe bank notes and all the Bearer Bonds and Agro-Bonds. In all, a collection of 61 notes. Once the four missing notes are procured the framing is to be revised and the collection will be raffled. Tickets will be R100 each and a minimum of 300 tickets will be sold. This is a ‘once only’ collection that will be a valued item for any collector – a superb display for any quality boardroom and an item that will surely become more valuable in time.

The Trust is fortunate in being supported by a loyal and generous band of donors. Some are committed to monthly donations, while others donate in some form of lump sum when they are able. We are completely indebted to all of them for without their interest and support the Trust would simply not be able to continue its essential work. Formal tax receipts are issued for each and every donation, as are letters of appreciation.

The Trustees are currently embarking on the compilation of a business continuity plan to ensure that the primary objective will not be in jeopardy and future support of the pensioners will be assured.

The Trustees thank you for your donation or donations over the years and hope that you will continue to support our endeavours to provide the essential assistance to our needy Zimbabwe pensioners who reside in the Western Cape.

Warm regards. Yours sincerely

Leon Jacobs
Chairman
1 March 2009