CASIDRA CELEBRATES 35TH CONSECUTIVE UNQUALIFIED AUDIT FOR 2023/24

CASIDRA CELEBRATES 35TH CONSECUTIVE UNQUALIFIED AUDIT FOR 2023/24

Casidra proudly reached a significant milestone with its 35th consecutive unqualified audit for the 2023/24 financial year. This remarkable achievement was highlighted by Dr Ivan Meyer, Minister of Agriculture, Economic Development and Tourism for the Western Cape, during Casidra’s Annual General Meeting in Paarl on 27 August 2024. Minister Meyer lauded Casidra’s steadfast commitment to exemplary governance and impactful rural community development. “Casidra’s consistent demonstration of financial integrity and governance excellence is a testament to its dedication to the Western Cape Government and rural advancement,” said Minister Meyer.

The Chairperson of the Audit and Risk Committee, Crystal Abdoll, presented the Annual Financial Statements for the 2023/24 financial year and highlighted Casidra’s crucial role in enhancing the lives of citizens in the Western Cape and its contribution to alleviating poverty. The Company realised a surplus of R1,8 million for the year ended 31 March 2024, despite rising costs in the sector. Management successfully implemented cost containment measures, motivated staff, and maintained their focus on expanding alternative income streams. The Company’s cash and cash equivalents decreased by only R134,000 from the previous year to R16,5 million, further underscoring Management’s commitment to stewarding company resources. “I wish to commend the Board, Management, and Staff for achieving an excellent audit outcome, delivering solid financial results, and creating a lasting impact on the communities we serve,” Abdoll concluded.
Christo van der Rheede, Chairperson of the Board, conveyed his gratitude to the Shareholder, represented by Minister Ivan Meyer. “Our strategic partnership with the Western Cape Department of Agriculture (WCDoA) has advanced reporting, efficiency, and procurement, thereby amplifying our impact within the Province. Casidra will continue to play a significant role as the leading implementing partner of the WCDoA and aligns to the new Ministerial priorities, namely Agricultural Support; Business Support; Food Security and Nutrition; and Market Access”, stated Van der Rheede.

Minister Meyer also praised the Board Members for their dedication to enhancing agricultural and economic opportunities in rural communities, significantly contributing to the agricultural sector’s growth in the Western Cape.

Dr Keith du Plessis, CEO of Casidra, says that rolling out approximately 10 000 food security projects across the Province with limited resources is one of Casidra’s biggest achievements and that obtaining an unqualified audit in the process is just the cherry on top of the cake. Dr du Plessis thanked Minister Ivan Meyer and the HOD for Agriculture, Dr Mogale Sebopetsa for always believing in Casidra and its efforts to make a difference through effective and efficient project delivery. He also extended his gratitude to the Board of Directors, Management, and Staff for their collective efforts and ongoing support in fulfilling the Company’s mandate.

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