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Women in Oil & Energy SA. Challenges and Experiences in the Liquid Fuels Sector Bongani Mthombeni-Möller 01 November 2012. Presentation Overview. Introduction to WOESA Challenges Curbing the Challenges Personal Experience in Liquid Fuels Sector. Women in Oil and Energy SA.
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Women in Oil & Energy SA Challenges and Experiences in the Liquid Fuels Sector Bongani Mthombeni-Möller 01 November 2012
Presentation Overview Introduction to WOESA Challenges Curbing the Challenges Personal Experience in Liquid Fuels Sector
Women in Oil and Energy SA WOESA is a section 21 company Aim: to facilitate and promote business opportunities for, and enhance the participation of South African women in the oil and energy sector Vision: To be the leading organisation in facilitating the participation of women in business ventures in the oil, gas and other energy sectors.
WOESA Group of Companies WOESA section 21 WOESA Individual Shareholders /Members WOESA Investment Holdings 30% 70% 100% WOESA Investments (Pty) Ltd
Roles we want women to play • To be active in the energy sector as equals • To have a growing share in the ownership of the economy (energy industry). • 30 – 40 percent of top management in oil sector and energy sectors • To grow the South African economy in a way that a bigger number of ordinary households are able to have a sustainable income and therefore a sustainable way of life.
Financial Challenges • Maintaining an organisation with nearly 300 members and regional representation is time consuming • Budget for overheads and running the organisation is modest • Oil companies unwilling to contribute to overheads and largely wish to fund projects only • BUT projects cannot be implemented in the absence of an organisational structure! • WOESA Investments was established to address this dichotomy
Financial Challenges 20% of dividends from WOESA Investments will flow to WOESA to cover overhead costs It will take 3-5 years before there are positive cash flows from WOESA Investments The success of WOESA Investments is critical to the sustainability of WOESA – It is not “just another women’s investment company”! WOESA will need support to cover overheads as well as support for agreed projects for at least the next 3 years
Financial Challenges • Women’s participation- grassroots facilitation • Add value to projects • Access to Equity Finance - Members seek opportunities which are not available
Infrastructural Challenges • A well resourced platform and network for women in the sector • Academic and training institutions which respond to the need of women as it is related to society. • Skills development and training • Well supported and resourced women’s associations
Curbing the Challenges • Clear national plan of action of how to ensure women’s empowerment. • Clear national Targets for women empowerment • A body with the necessary resources, and authority chosen by women to monitor progress. • An advisory body which can package interventions if targets are not met.
Curbing the Challenges • Financial Support: • From the Industry: TOTAL, BPSA, SASOL, PetroSA, Shell • From Government and institutions closely linked to government: dti, dme, ESKOM • Financial sector; Banks, investment companies
Successes WOESA created an investment company which allowed poor people the opportunity to invest. Majority of WOESA’s shareholders have bought shares for between R1000-R2000 We have invested in projects that will one day payout dividends. Few of our members are now running their own petrol stations Some women have been able to participate in equity stakes in oil companies.
