May 2017 Articles (94)

David Munro new Liberty CEO

Standard Bank corporate and investment banking (CIB) CEO David Munro (pictured) has taken over as CEO of Liberty in the wake of Thabo Dloti’s unexpected departure. Standard Bank holds a 54 percent share in Liberty.

Chairman Jacko Maree has been quoted as saying that Munro has an “excellent track record” and is a “deeply experienced manager who … can restore Liberty to its former glory”.…

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Added by CFO South Africa on May 31, 2017 at 19:00 — No Comments

Intellection signs up for Finance Indaba 2017

Intellection has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Do you want to know more about the latest and greatest in finance? Register to …

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Added by CFO South Africa on May 31, 2017 at 8:00 — No Comments

Tongaat Hulett hits earnings sweet spot

Tongaat Hulett reported a 45 percent rise in full-year earnings on Monday, as higher export prices and improved local prices gave the South African sugar producer a jab in the arm.

"Local market sales volumes and mix improved due to there being lower imports into the…

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Added by CFO South Africa on May 31, 2017 at 6:00 — No Comments

TFG acquires Australian menswear group

TFG, the holding company of fashion chain, Foschini, has announced that it will be acquiring menswear group, Retail Apparel Group (RAG). TFG is the latest retailer to enter the Australian market.…

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Added by CFO South Africa on May 30, 2017 at 15:00 — No Comments

Entersekt clinches second banking award

South African FinTech company, Entersekt has won the Judges' Choice: Best Technology Provider at the fourth Banker Africa East Africa Awards held recently at a gala dinner in Nairobi. In April, the firm won the award for Best Mobile Security Technology in the…

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Added by CFO South Africa on May 30, 2017 at 8:00 — No Comments

I want to excel in my role as CFO, says Mampe Gololo, CFO of Great North Transport

“I joined the company at a time when it was struggling, so I’ve had to be innovative and creative,” says Mampe Gololo, CFO of Great North Transport, a public entity focused on commuter transport in Limpopo. “The company has been loss-making for the last five…

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Added by CFO South Africa on May 30, 2017 at 6:00 — No Comments

Net1 CEO retires, CFO takes over

Net1 founder and CEO Serge Belamant (pictured) will retire at the end of this month, marking the end of what is almost a 17-year tenure at the company. CFO Herman…

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Added by CFO South Africa on May 29, 2017 at 19:00 — No Comments

Finance flash: the TOP-10 articles of week 21, 2017

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

1. …

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Added by CFO South Africa on May 29, 2017 at 15:30 — No Comments

PowerMani joins Finance Indaba 2017

PowerMani has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Do you want to know more about the latest and greatest in finance? Register to …

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Added by CFO South Africa on May 29, 2017 at 8:00 — No Comments

In deal making, understand what you buy, says Deloitte’s Karin Hodson

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and deal makers about the homework a growth-hungry company needs to do. “The due diligence report is often just used to tick the box and the findings are not adequately translated into the pricing and sale and purchase…

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Added by CFO South Africa on May 29, 2017 at 6:00 — No Comments

Discovery launches in Australia

South African insurer Discovery has announced a joint venture with two Australian companies to create a health insurance brand and to expand the footprint of its behaviour tracking programme. The players are Australia’s largest life insurer, AIA Australia, and non-profit health and care company, GMHBA.

Barry…

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Added by CFO South Africa on May 28, 2017 at 8:00 — No Comments

Grant Pattison, ex Massmart chief, new Edcon CEO

Former Massmart executive Grant Pattison (pictured) has been appointed Edcon CEO, his primary aim to assemble a new board with retail experience and hopefully pull the struggling retail group out of the doldrums.

Pattison, who was instrumental in the acquisition of general goods retailer Massmart by US…

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Added by CFO South Africa on May 27, 2017 at 8:00 — No Comments

SAICA and CIMA work together to advance accountancy in SA

SAICA and The Association of International Certified Professional Accountants (the Association) have joined forces to advance the accounting profession in South Africa by broadening access to their professional qualifications and resources.

Badibanga Promesse, the Association’s Regional Vice President for…

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Added by CFO South Africa on May 26, 2017 at 15:00 — No Comments

Learn to drive productivity at CFO Summit 3

In these tough economic times, many CFOs are looking for ways to increase productivity and cut costs to maintain their organisations’ competitiveness. If you are one of these finance chiefs, you simply can’t afford to miss out on the third CFO Summit of the year on 14 June 2017 at the opulent…

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Added by CFO South Africa on May 26, 2017 at 8:00 — No Comments

Naspers invests $5m in Filipino FinTech Coins

South African media and e-commerce giant Naspers has continued its expansion into the FinTech and cryptocurrency space by putting $5 million behind Philippines-based startup Coins.ph. The investment was facilitated by Naspers’ Ventures division.

Coins offers financial…

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Added by CFO South Africa on May 26, 2017 at 6:00 — No Comments

TFG sees good results as its diversification strategy pays off

TFG, whose diversified retail footprint covers 3,328 outlets in 34 countries, has overcome difficult trading conditions to deliver 11.6 percent retail turnover growth (R23.5 billion March 2017 year-end).

CEO Doug Murray (pictured) said:

“We are extremely pleased with…

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Added by CFO South Africa on May 25, 2017 at 15:00 — No Comments

Cassel&Co joins Finance Indaba 2017

Cassel & Co has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Do you want to know more about the latest and greatest in finance? Register to …

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Added by CFO South Africa on May 25, 2017 at 8:00 — No Comments

Hotels keep Tsogo Sun in the black

South African hotel and casino operator Tsogo Sun reported an increase in full-year earnings in a results presentation on Wednesday, as new hotel acquisitions offset disappointing gaming earnings.

Adjusted headline earnings per share for the full-year ended 31 March rose 6% to 207.6 cents…

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Added by CFO South Africa on May 25, 2017 at 6:00 — No Comments

Management shake-up at Lewis; CFO among those leaving

The chairperson, a board member and the CFO are leaving JSE-listed Lewis Group. Lewis said in a statement that David Nurek, Lewis chairperson, had advised the board that he plans to retire after serving as a director and chairman since the group’s listing on the JSE in 2004. Les Davies, who has served as the group’s CFO…

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Added by CFO South Africa on May 24, 2017 at 19:00 — No Comments

Sustainability – why CFOs should care

"Companies are now required by governments and stock exchanges to be transparent about their sustainability performance for all stakeholders, including investors, to see and evaluate," writes Stephane Bello, Executive VP and CFO at Thomson Reuters.

As stewards of capital, today’s CFOs have a unique opportunity to oversee…

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Added by CFO South Africa on May 24, 2017 at 15:00 — No Comments

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