During the year under review the Southern Africa Institute for Media Entrepreneurship and Development (SAIMED) examined issues facing both the organisation and its beneficiaries, and looked at ways to address these issues. SAIMED reformed its practices and services, as well as its strategic plans and organisational development. Governance and management Dissolution into a trust The transformation of SAIMED from a Limited by Guarantee Company into a Trust was completed in June 2007. The dissolution process has been held back, however, by additional legal consultations. Board of Directors The composition of the SAIMED Board of Directors during the course of the year was as follows: Name of director Board position Country 1 Kanyama Chibamba Board Chairperson Zambia 2 Segaetsho Laona Vice Board Chairperson Botswana 3 Paulo Faustino Member Mozambique 4 Nkambule Siphiwe Member Swaziland Staff complement SAIMED continued with the middle-way outsourcing model with a lean staff complement at the close of the financial year as follows: Name of staff Position 1 Kabeta Jacqueline Executive Director 2 Silumesii Milupi Programme Officer 3 Sibanda Clement Assistant Commercial Officer 4 Malebogo Magama Messenger/Cleaner Financial performance The provisional audit report for the year under review recorded a deficit of BWP289,130.00 (US$44,574.00). The challenge remains, as with many social development organisations, to meet operational costs. The following statement reflects funding sources compared against programme expenses, administrative costs and other operating commitments: 48 Annual Report 2008