Our vision of this section of our web site is to be seen as major role player in the establishment and functioning of a vibrant corporate renewal, turnaround and business rescue industry in South Africa through serving as a news and communication medium, and facilitating interaction between stakeholders.

The first step towards achieving this vision was to provide information relevant to turnaround industry stakeholders on a continual basis. 

This comprises of of our views as well as contributions by industry stakeholders - as per the menu on the left.

Our mission is to promote the South African turnaround, corporate renewal, and business rescue industries as a web site publication. 

Our original mission statement has largely been absorbed into the mission statement of the Turnaround Management Association - Southern Africa - Southern Africa (TMA-SA) when the latter was formed in March 2005.

Accordingly, our revised mission statement reads as follows:

• Promote Turnaround Management Association - Southern Africa as the association for the turnaround industry's service and capital providers, legislators and academics.

• Promote the regulation of formal business rescue foreseen in new business rescue legislation and through a body such as ABASA (Association of Business Administrators of South Africa).
• Promote a culture of corporate renewal, turnaround and business rescue in South Africa, with job preservation as an important imperative.
• Promote BEE in the turnaround industry through HDI ownership, operational involvement, skills transfer and training, and purchasing.

The turnaround industry in South Africa is a professional community of turnaround and corporate renewal professionals who share a common interest in strengthening the economy through the restoration of corporate value.

Turnaround industry structure provides information about the firms and professionals participating in the turnaround industry, as well as turnaround industry driving forces and constraints.

South Africa has an active, albeit hitherto fragmented turnaround management industry, working with underperforming and distressed companies in the informal turnaround sector i.e. outside of insolvency legislation.

Organised turnaround industry

Two factors caused the industry to organise itself.

Firstly - although South Africa has a rich history of successful turnarounds, there were also many notable failures. 

Overseas experience has proved that bringing together turnaround professionals from all disciplines, including government, management and banks, to work towards common goals, leads to earlier and improved corrective action by management, more successful informal creditor workouts and a higher success rate of business rescues.