June 2017 Articles (85)

Mary Vilakazi new MMI deputy CEO

MMI has promoted Mary Vilakazi (pictured), nominated for the 2017 CFO of the Year Awards, to the role of deputy CEO. In her new role, Mary will be responsible for driving the effective implementation of MMI’s plans.

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

Five apps to help CFOs boost their productivity

It never ceases to surprise us that many CFOs heading up the finance departments of massive organisations equipped with the bleeding edge of technology are content to limit themselves to the equivalent of an abacus when it comes to boosting their own productivity. Here are five apps to help you get a handle on your…

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

Africa's first FinTech development platform launches

Koncart, a platform that empowers developers and techpreneurs to build their financially driven tech idea with ease, has recently been launched into the African FinTech sector. The platform enables startups to quickly create and manage virtual wallets and transactions with an in depth analysis to your data by…

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

Stay safe from cybercrime

In the three years to 2016, almost 16,000 organisations across the globe had their IT systems breached – the equivalent of 17 cases of business email compromise every day, according to the US-based Internet Crime Complaint Center. Recent cyberattacks on companies around the world have rung alarm bells over how firms protect their business from criminals. A new report ,…

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Added by CFO South Africa on June 29, 2017 at 15:00 — No Comments

Finance Indaba 2017: Intellection is the leader in procure to pay improvement

“First and foremost, we have one focus: delivering value with a long-term objective of providing the best service in our industry," says Christo Jacobs, director at Intellection, a gold partner at the …

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

Omnia profits drop amid economic pressures

South African diversified chemicals maker Omnia Holdings announced a drop in full-year profit of 7% in a results presentation on Tuesday, as difficult trading conditions took their toll on the company’s mining and chemicals divisions.

Headline earnings per share fell to 881…

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

Tyrone Soondarjee new Cell C CFO

Despite recently saying he would be retiring, Tyrone Soondarjee, previously financial director at the Sasfin Group, has been appointed Cell C’s new chief financial officer, effective 1 July 2017. Soondarjee will take over from Robert Pasley, who will return to his original role as chief strategy officer.…

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Added by CFO South Africa on June 28, 2017 at 19:00 — No Comments

Deloitte’s Andrew Mackie shares his thoughts on the value of the CFO community

Andrew Mackie, Deloitte’s newly appointed Head of Audit for Africa, believes there is great value in cultivating a strong network of CFOs and building a community of finance leaders. Mackie says he is excited about Deloitte partnering with CFO South Africa: “It is vital, particularly in these tumultuous times, that finance leaders hunker down together and…

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Added by CFO South Africa on June 28, 2017 at 15:00 — No Comments

CFOs should strategise for growth in the long-term, says UJ’s Ben Marx

“Strategy, strategy, strategy. In difficult economic times, it is critical that the CFO to manage, innovate and focus the company finances not only to survive short-term challenges, but to expand and grow in the long-term as well,” says the head of the University of Johannesburg’s accounting department,…

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

Consumer uptake of FinTech services surges – EY

Consumer uptake of innovative FinTech products is set to be embraced by the mainstream as adoption levels surge among digitally-savvy consumers, according to a study by EY. The research, based on 22 000 online interviews with digitally active consumers across 20 markets, shows that the emerging…

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Added by CFO South Africa on June 28, 2017 at 6:00 — No Comments

Payments industry launches new type of debit order

Four years in the making, a new type of debit order, DebiCheck, is nearing completion. Created as a result of increased concern over the number of unauthorised debit orders being processed, this new debit order system will only authorise a debit order to be processed to a consumer’s account if the mandate for such has been electronically confirmed by the…

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Added by CFO South Africa on June 27, 2017 at 15:00 — No Comments

Finance Indaba 2017: Treasury Technologies gives you the benefit of in-house banking

"With Treasury Cloud Technology, the benefits of an in-house bank are within reach of most medium-sized companies and not just available for the select few listed firms," says Rudolph Janse van Rensburg, CEO of Treasury Technologies, a gold partner at the …

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

Leaders are there to grow and empower staff, not to be their friend, says Rajesh Mahabeer

For his work as CFO of SANParks, Rajesh Mahabeer, now Head of Public Sector Finance and Deal Origination at Garuda Capital (Pty) Ltd, was nominated for the CFO Awards 2017. We chatted to Rajesh about his tenure at SANParks and how he turned the finance team around, setting a new strategic direction for the entity in doing so, as well as his new role in the M&A and corporate…

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Added by CFO South Africa on June 27, 2017 at 6:00 — No Comments

KAL lists on JSE main board

Agricultural services company KaapAgri (KAL) this morning listed on the ‘speciality retailer’ sector of the main board of the JSE. The company, which has a history dating back more than 100 years, to 1912, is valued at around R4.1 billion.

Sean Walsh, Managing Director of KaapAgri, was quoted by Agri Orbit as saying:

“Listing on the…

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Added by CFO South Africa on June 26, 2017 at 19:00 — No Comments

Finance flash: the TOP-10 articles of week 25, 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 June 26, 2017 at 15:00 — No Comments

Naspers’ earnings skyrocket

South African tech and media giant Naspers on Friday recorded positive results for the year to March 2017, increasing revenue by 19% year on year to $14.6 billion. Core headline earnings at Naspers rose 41% to $1,8 billion for the year. Positive results from Chinese behemoth…

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

Cyberattacks are big business for criminals, says security expert Michael Marriott

High-profile data breaches are regularly in the news and, seemingly, businesses and are losing the battle to protect their intellectual property (IP), corporate and customer data from professional cybercriminals. Michael Marriott, security expert at Digital Shadows, shares his…

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

Political parties oppose Twin Peaks Bill

The Democratic Alliance (DA) and the Economic Freedom Fighters (EFF) have opposed the Twin Peaks Bill, officially known as the Financial Sector Regulation Bill, while the…

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

Eskom appoints Johnny Dladla as acting group exec

Johnny Dladla (pictured) has been appointed acting group chief executive of Eskom, with immediate effect. This after Public Enterprises minister Lynne Brown ordered Eskom to rescind Brian Molefe’s reappointment as the power utility’s chief executive late last…

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Added by CFO South Africa on June 24, 2017 at 8:00 — No Comments

IRBA: Extra measures required to promote transformation of audit profession

The Independent Regulatory Board for Auditors (IRBA) has said that additional measures to drive transformation will be required to address government’s concerns regarding de-concentration of the audit market and transformation. This in the face of criticism that Mandatory Audit Firm Rotation (MAFR) will not address transformation of the…

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Added by CFO South Africa on June 23, 2017 at 15:00 — No Comments

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