SMD

5. REPORT OF THE ACCOUNTING OFFICER

Ms Thulisile Manzini Acting Director-General Department of Small Business Development

5.2. Overview of the operations of the Department Administration The Administration Programme continued to provide strategic leadership, management, and support services to the entire DSBD. During the period under review, the Department maintained its Unqualified Audit Opinion with no findings for the 2023/24 financial year, for both the Annual Financial Statements and Performance information. The Department paid 100% of its valid creditors, these comprised the processing of 11 651 invoices worth R73.4 million on an average of six days, facilitating timely access to cash flow, which is critical in sustaining enterprises. Furthermore, the Department was able to spend R2.485 billion (98.2%) of the final budget of R2.529 billion. The Department has not incurred any fruitless and wasteful expenditure for the year under review. The Department closed the reporting period with female representation at Senior Management Service (SMS) level at 53.7%. The DSBD recorded 11.8% reduction in vacancy rate towards filling the approved organisational structure and on Persons with Disabilities (PWDs) a 3.7% was achieved against a target of 3%.

5.1 Introduction This Annual Report is an account of our 2023/24 financial year performance as it seeks to provide detailed feedback on the extent and manner in which the Department of Small Business Development (DSBD) has implemented its programmes/projects during the financial ending 31 March 2024. During the year under review, the Department continued to implement its key strategic priorities, which are aligned to the Government National Development Plan (NDP), the revised 2019-24 Medium Term Strategic Framework (MTSF) priorities, Minister’s Performance Agreement and the Economic Reconstruction and Recovery Plan (ERRP). Despite the introduction of the Cost Containment Measures during the financial year under review, the Department managed to achieve 85% of its set targets for the 2023/24 financial year.

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Department of Small Business Development • GENERAL INFORMATION • Part A