> PRESIDENT'S MESSAGE

Dear Members,

2003 has been an exciting year in terms of programming, awareness building and revenue generation, albeit with some growing pains. Given that it was a trial period under a new operating structure, this is not unexpected, nor insurmountable. We look forward to continuing to build on our successes for an even greater 2004.

Main Highlights
The key to our success is always our events. A focus on value added content, top notch speakers, and professional execution led to the Chamber receiving laudatory praise for most events, including:

• Indaba 2003, featuring Cyril Ramaphosa, attracted 200 participants to a professionally presented program that drew widespread praise and attention for the Chamber in the business community.
• The Chamber’s Annual Mining Breakfast attracted 203 participants to hear the South African Minister of Minerals and Energy, and Ian Cockerill, Chief Executive Officer, of Goldfields of South Africa.
• The Town Shoes “Win a Trip to South Africa Promotion”, coordinated by the Chamber, in partnership with Chamber members Africa Experts, South African Airways, the South African Trade Office, and Wines of South Africa. This three month program generated $2.5 million in free publicity and advertising for a $25,000 trip for two to South Africa. Town Shoes called it their “best ever” promotion. The event generated 10,000 names of individuals interested in more information on South Africa and will serve as a base for a membership drive.
• In November 2004 The Chamber hosted two successful events around the State visit by South African President Mbeki, and Phumzile Mlambo-Ngucka, the Minister of Mines and Energy, and sixteen Black Economic Empowerment mining companies. Some of our members were invited to a business round table with President Mbeki and a luncheon hosted by Canada’s Minister of Transport, David Collenette. Bruce and Board member Marc Couse were also honored to attend a dinner in honor of the President hosted by then Prime Minister Chrétien in Ottawa.
• The Chamber co-hosted a luncheon with Grand Sponsor Fasken Martineau DuMoulin for the Premier of Gauteng Province and his delegation.
• Bruce attended the first Trade and Investment Limpopo Conference in South Africa, along with fellow Board Member, and South African Honorary Consul, Marc Couse.
• In addition to these major events the Chamber held its four regularly scheduled members meetings, its annual golf tournament, and a number of other unscheduled events.

Revenue Generation
Indaba is the primary revenue generator for the Chamber which allows it to continue to operate. Outside of a few other events such as the Mining Breakfast, and the November 5 Black Economic Empowerment Mining reception, most Chamber events are breakeven to allow us to continue to provide value to the membership while keeping membership and event fees reasonable.

Expanding the Scope and Influence of the Chamber, and Strategic Alliances
The Chamber has also improved its position of influence and recognition in the last year. This was done with a variety of Canada – Southern African business stakeholders, through participation in a several forums and meetings, including:

• Canadian International Development Agency (CIDA) Roundtable on New Strategy for South Africa, in Ottawa
• Canadian Council on Africa (CCA) Corporate Social Responsibility in Africa Conference in Calgary
• International Summit on the New Partnership for African Development (NEPAD) in Washington
• World Mines Ministries’ Forum
• Discussions with City of Sudbury re: business development initiatives with South Africa
• Discussions with Centennial College for their strategy in South Africa
• Areas of collaboration between the Chamber and Canadian Institute of Mining
• Meetings with the Nigerian Chamber of Business
• Discussions regarding a potential trade mission to South Africa
• Consideration of expanding nationally
• Meeting with the National African Federation of Chambers of Commerce
• Meeting with the South Africa – Canada Chamber of Business in South Africa

Membership and Corporate Sponsorship
Significant progress was made in obtaining corporate sponsors (primarily around Indaba), however individual membership was not actively targeted. Corporate membership and revenues are the highest they have ever been and our list of Corporate and Grand Sponsors is impressive. Current membership is 86. Of this 31 are corporate members ($500, $1,000 or $2,500 level) and 55 are individual ($150) members. In terms of absolute numbers our actual membership is considerably higher given that all of our corporate members have multiple representatives by virtue of their corporate membership.

Special Thanks
A number of Board Directors and general members contributed greatly to the Chamber during 2003. A few deserve special mention for their efforts – Christie Christelis, Glynnis Rengger, Chris Belchers, Sara Purves, Darryl Levitt, Ian Epstein and Stephen Pincus of Goodmans, founder and Grand Sponsor.

Behind the scenes and at events, there was the help that Neville Jacobs provided as well as Dorothy Mackley and Sybil Miller at the Trade Office.

Thank you.

Bruce Shapiro
Chairman

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