April 2012 Articles (11)

Will European banks destroy the world?

According to the IMF’s latest Global Financial Stability Report (GFSR), one of the most pressing threats facing the global economy and the international financial system is the possibility of massive, synchronised deleveraging at European banks. Such deleveraging, which could, in the worst case scenario, run to the tune of $3.8tn (about 10% of European banking assets) if policymakers mess things up, could shave around…

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Added by CFO South Africa on April 19, 2012 at 8:30 — No Comments

Philippe Georges - CFO Procter & Gamble: "Relationships with distributors not the smoothest"

It was only a few months ago when French Philippe Georges moved to Cape Town. After having lived and worked in several European countries for the past years, this was quite a change of scenery. Philippe was appointed Finance Director for Procter & Gamble in South and East Africa as of January 2012. Although he has only been installed in the position for three months, he already noticed differences between South Africa and Europe. “I find that the relationship between trade and…

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Added by CFO South Africa on April 18, 2012 at 15:00 — No Comments

5 things managers need to know

By now, we know pretty well what works in business and what doesn’t. So why do managers waste so much time and money looking for new answers? Why do they ignore the tools that work, and mess with stuff that won’t make any difference to their results? Whatever business you run, there’s a handful of things you just have to get right in order to deliver growth and profits – and to stay in business. Everything else is a distraction. Here’s the critical few:

 

  1. Define and focus…
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Added by CFO South Africa on April 17, 2012 at 10:00 — No Comments

David Ngobeni – CFO Shanduka: "Pulling in a Chinese shareholder"

“South Africa would be better off facing the challenges of the current economic situation with greater productivity and lesser restrictions.” David Ngobeni, CFO of an investment holding company, Shanduka Group, has a very clear vision on how laws in South Africa limit the country in its development. Supported by his great negotiation skills he hopes to bring his company to the top. After just (1,5) years as CFO, he seems to be heading that way steadily.

 

Shanduka…

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Added by CFO South Africa on April 13, 2012 at 8:30 — No Comments

Johan Burger – CFO FirstRand Limited: "Fix problems that don’t exist here"

South African banks face challenging times, says Johan Burger, CFO of FirstRand Limited.  “We are now faced with regulatory changes that have been driven by issues emanating from the past, which played out in global markets, but not necessarily in our home market. In many cases these changes will be a challenge to implement in South Africa, as they seek to fix problems that don’t exist here.”

Listed on JSE since its founding in 1998, FirstRand Limited is one of the largest…

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Added by CFO South Africa on April 11, 2012 at 8:30 — No Comments

SAICA responds to Minister Nzimande’s call to boost FET Colleges

The South African Institute of Chartered Accountants (SAICA) is now actively recruiting retired Chartered Accountants CAs(SA) and seconding industry veterans to perform as CFOs, vetting administrative assistants and is finalising its strategy and operations to assist Further Education and Training (FET) colleges.

 

This is in response to Minister of Higher Education Blade Nzimande, who has called on SAICA to assist in the roll-out of FET…

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Added by CFO South Africa on April 11, 2012 at 8:30 — No Comments

JSE's most valuable company

British American Tobacco (JSE:BTI), a company that regulators worldwide tried to kill, has become the JSE’s most valuable company with a market capitalisation on March 1 of R765bn.…

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Added by CFO South Africa on April 10, 2012 at 8:30 — No Comments

Tjaart Kruger – CFO African Dawn Capital: "The sky is the limit"

“When you are working in limited resource environment as transpires in a turnaround situation it becomes counterproductive. The CFO will in future have to force himself to strategically focus on business,” says Tjaart Kruger, CFO of African Dawn Capital. “It has become a very complex and highly regulated environment in the listed environment.” Skills herein are vital, yet not always present. “A major weakness that I have encountered in education is that no amount of theory prepares…

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Added by CFO South Africa on April 8, 2012 at 14:00 — No Comments

Lucas Ndala – CFO Bafokeng Holding: "Work hard, be flexible and have a never-die attitude"

Royal Bafokeng Holdings (RBH) is a leading South African community-based investment company. The company – with a turnover of R6 billion – is responsible for the management and development of the commercial assets of the Royal Bafokeng Nation, a 150,000-strong community of black South Africans and a turnover of R6 billion.

 

In 2002, Royal Bafokeng Resources was established to manage and develop the RBN's mining-related assets. Two years later, Royal Bafokeng Finance…

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Added by CFO South Africa on April 4, 2012 at 8:30 — No Comments

Strategy, Consumers and the Company

Guest writer Tare Kadzura elaborates on firms in South Africa, and how they manage to put utmost importance of the fundamental premise of why an organization exists: to provide products or services to consumers at a price that reflect value as fairly as possible. Plus: how online developments play a vital role herein.

 

A few weeks ago, I visited my local bank branch with a simple query regarding a certain product they had on offer. Fast forward 45 minutes, after…

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Added by CFO South Africa on April 3, 2012 at 15:30 — No Comments

Why SA should care about Fitch, S&P, & Moody's cuts

Over the last four months, as the world’s Big Three credit ratings agencies have, one by one, downgraded their outlooks for South Africa to negative, reactions have run the gamut from outrage to indifference.

 

On the one extreme, the South African government and its allies have been vocal in condemning the downgrades. After Moody’s downgraded the outlook for five South African banks and the South Africa National Roads Agency (Sanral), for example, finance Minister Pravin…

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Added by CFO South Africa on April 3, 2012 at 8:30 — No Comments

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