Major challenges Apart from the problems of accessing funding, some of the major challenges facing Samdef include a lack of business managerial capacity in media enterprises and technical skills across southern Africa. Fundraising in order to capitalise Samdef to the level of self-sustainability and meeting the growing demand remains high on the agenda. Governance Management began to implement a risk management system during the year. The board and board committee charters were also introduced to this system during the course of the year as a way of improving the fund’s corporate governance. In addition, the board developed a risk register as a tool that will be used by the board and management to monitor and control the most important risks facing the fund. Outlook The future of Samdef looks very exciting but challenging. There is no doubt that with the concerted efforts of likeminded stakeholders, Samdef will be able to continue to fund media initiatives in the region. 42 Annual Report 2009