SFM Report_21.9.2021

WESSA SFM REPORT

FINANCIAL REPORT FOR THE 5 MONTHS ENDED 26 AUG 2021

The first 5 months of this financial year have been a challenging one with there being uncertainty still

due to the Covid-19 pandemic. This has had a significant impact on Education centres.

WESSA has been able to maintain a healthy cash flow balance year to date by closely monitoring the

cash inflows and outflows on a weekly basis. WESSA has not entered any long-term debt to date.

The WESSA Group external audit has proved to be a challenging one with the finance team not being

able to go into the office because of the riots and an outbreak of covid-19 infections at the Umgeni

Valley offices, resulting in the team not being able to produce information required by the auditors in

a timeous manner. There have also been other challenges with obtaining documents and historical

information, however, the finance team was able to source and submit as much of the required

information as possible.