Chairperson's Message
16 January 2023
Dear SARIPA Members,
Well, here we are in 2023!! Hopefully, you are all well-rested and ready for the year.
Despite continued load shedding, recently imposed Eskom tariff hikes for the next two years will place additional stress on the South African economy and business. It has been reported that further tariff increases "threatens to push significant numbers of South Africans into energy poverty and will force them to trade-off between their electricity needs and food security". This is indeed concerning and will no doubt have a knock-on effect on companies and businesses into the early part of 2023.
Professor Raymond Parsons (writing for Bizcommunity.com) predicts that "economic and political cross currents in 2023 will result in another tough year for South Africans as strong inflation, rising interest rates and continued high unemployment, with low growth, all make for a challenging economic period ahead'. Mr Parsons goes on to state that "the ball lies mainly in South Africa's court in 2023 to mobilise the policies and projects put forward (by Government) and where there can be a demonstration of real progress in key economic reforms that can make a positive difference to South Africa's economic performance".
It is expected that insolvency and business rescue practitioners will be kept busy as financial distress continues to have an impact on companies not being able to generate sustainable revenue in continued challenging trading conditions.
Worldwide there is an expectation that Zombie companies trading on the cusp of insolvency, and where there is no real prospect of a restructuring or rescue will have no choice but to file for insolvency (bankruptcy). Global interest rates are set to continue their upward trends alongside inflation.
For the members of SARIPA, we can look forward to continued activity in the first half of the year, with ongoing SARIPA webinars, regional conferences and networking events that are in the process of being planned and arranged. Details will follow in due course. SARIPA Young Bloods are also hard at work planning events for 2023.
We are again due to kick off with our two courses (in collaboration with INSOL International), namely-
- Programme in South African Insolvency Law and Practice 2023
- Programme in South African Business Rescue 2023
In 2022, 24 students registered for the Programme in South African Insolvency Law and Practice. In 2023, the Programme in South African Insolvency Law and Practice will again be on offer, together with the brand-new Programme in South African Business Rescue. The latter course is in the process of being finalised. We expect a very high uptake for both courses, so do not miss out - please see the above links for enrolment. There is no doubt that the two courses offer cutting-edge and highly practical insight into insolvency and business rescue practice in South Africa and will be a sought-after certification for all SARIPA members.
Our first mentorship programme for practitioners is ongoing and will finish in June 2023. This initiative remains an important and beneficial opportunity for members of SARIPA. We will circulate the details of the next intake shortly.
INSOL International has also recently announced its very exciting INSOL Future Leaders Programme in Africa. This programme is looking to involve all practitioners with 4-7 years post qualification experience and is open to South African practitioners who have had insolvency/rescue/restructuring experience. The objective of the programme is to enhance the INSOL member experience by providing a forum for younger practitioners and creating exclusive learning and networking opportunities aimed at enhancing careers and enabling the development of international practice. There is no cost to attend the programme and to find out more please apply through INSOL'S website - www.insol.org
In 2023, we will continue to provide our members with continuous updates involving the Master's Office, CIPC, SARS and Trade Unions. Pertinent and relevant information will be available on our website and will continue to focus on the latest case law and precedent affecting insolvency and business rescue practice. We welcome SARIPA members’ contributions/articles and if anyone wants to write articles for SARIPA on relevant cases and/or practical issues, please submit such contributions to Rene Bekker at
The SARIPA Lenders Forum will continue to have discussions on issues affecting the South African market, levels of foreclosures and financial distress. There will again be an opportunity for practitioners to participate in the highly popular "meet the practitioner" series and where credentials of both insolvency and business rescue practitioners (in person) can be put before the South African banks.
INSOL International has recently announced details of this year's annual international conference - to be held in Tokyo Japan -see details at - https://www.insol.org/events/
Lastly, we look forward to hosting you at the end of the year at our SARIPA Annual Conference - details will follow later in the year.
I wish all of you a happy and prosperous 2023. I hope that you are all energised and are raring to get your teeth into some challenging and inspiring new mandates!! All the best to all of you and I look forward to seeing you at one of our events soon!!
Warm regards,
Dr Eric Levenstein
SARIPA Chairperson
