August 2015 Articles (33)

10 steps to a successful exit strategy

Exit strategies, involving full or partial change of ownership for the best possible value, are under-publicised and don’t receive much attention in South Africa, with many local businesses on board with Mark Cuban, who said: “Don’t start a company unless it is something you love and an obsession. If you have an…

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Added by CFO South Africa on August 31, 2015 at 9:00 — 1 Comment

Imperial Holdings seeks acquisitions to expand its African business

In a bid to counter slower growth in its home market, Imperial Holdings, which owns South Africa's largest network of car dealerships, is in search of new acquisitions that will allow it to expand its logistics business on the continent.

According to company CEO,…

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Added by CFO South Africa on August 31, 2015 at 8:30 — No Comments

Black & Veatch CFO announces African expansion

Global engineering, procurement and construction leader Black & Veatch recently opened a South African subsidiary, Black & Veatch South Africa, a welcome extension of this 100-year-old company.

The move supports the company's commitment to providing infrastructure…

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Added by CFO South Africa on August 30, 2015 at 11:30 — No Comments

Isuzu Trucks: Getting the perfect Truck to market faster with the 4most Enterprise Manager (EMA) powered by SAP Business One

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Isuzu Trucks: Getting the perfect Truck to market faster with the 4most Enterprise Manager (EMA) powered by SAP Business One

Market leader and specialised truck provider, Isuzu Truck SA, has experienced dramatically increased turnaround time to…

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Added by CFO South Africa on August 28, 2015 at 10:30 — No Comments

ACSA CFO pleased with results, despite company's large debt

While there exist valid concerns about the company's current debt, Airports Company South Africa (ACSA) CFO Maureen Manyama is happy with the organisation's most recent results.

  • Earlier this year we had…
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Added by CFO South Africa on August 28, 2015 at 9:36 — No Comments

New CFO for Marelli Motori

As of 1 June 2015, Marco Rondelli is the new CFO of Marelli Motori, a company founded more than 100 years ago and which is one of the leading suppliers of generators to the industrial, petrochemical and marine industries sectors. The company services its African business from regional…

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Added by CFO South Africa on August 27, 2015 at 8:30 — No Comments

Bad news for SA's GDP

While many South Africans sit with their fingers crossed most days, hoping the country's economic situation will soon start to improve, it seems this is not the case.

Statistics South Africa recently announced that the country's Gross Domestic Production (GDP) contracted by some 1.3% in Q2 of 2015.

SA…

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Added by CFO South Africa on August 26, 2015 at 11:30 — No Comments

Editorial: the real reason for the #randslide

I am often amused or slightly irritated - sometimes both - when I read the daily news about the rand. It is not that I don't care about the occasional ups and the seemingly more frequent downs of our currency, but the reasons given for its tremors are usually suspect to say the least. The president did X,…

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Added by Joël Roerig on August 26, 2015 at 8:00 — No Comments

Aveng attributes loss of share value to economic slowdown

Operating primarily in the infrastructure sector, Aveng Group announced a revenue decrease of 17%, from R53 billion in 2014 to R43.9 billion. Net operating earnings decreased to a loss of R288 million (2014: R799 million profit), while headline earnings per share decreased to a loss of 144,3c (2014:…

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Added by CFO South Africa on August 25, 2015 at 11:30 — No Comments

Learning from award-winning Africa CFO Greg Davis (Standard Bank)

At CFO South Africa we already know Greg Davis for a while, thanks to his great series of…

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Added by CFO South Africa on August 25, 2015 at 8:00 — No Comments

AngloGold Ashanti generates free cash flow in Q2

AngloGold Ashanti Ltd, a global gold mining company formed in 2004 through the merger of AngloGold and the Ashanti Goldfields Corporation, has announced that it generated $71 million of free cash flow in Q2 of this year, with production and costs beating guidance on the…

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Added by CFO South Africa on August 24, 2015 at 11:30 — No Comments

Plaudits for clean audit National Arts Council

For the first time since its inception in 1997, the National Arts Council (NAC) of South Africa has received a clean audit. The Auditor-General South Africa, Thembekile Kimi Makwetu, awarded the entity a clean audit for the 2014/2015 financial period and it was also…

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Added by CFO South Africa on August 24, 2015 at 8:00 — No Comments

Shoprite profits soar, opens 35 new stores across Africa

Africa's largest retailer, Shoprite, has increased its market share for the ninth year running, meeting its profit estimates with a 10.8% rise in full-year earnings.

Headline earnings rose to R7.73 per share in the 12 months ending 30 June, up from R6.98  one year…

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Added by CFO South Africa on August 23, 2015 at 11:30 — No Comments

CFOs discuss their role as change agents at intimate dinner

Never has there been a time when IT and business have experienced so many synergies and when the need to transform was so consistently urgent. Change management was the topic of an intimate networking dinner organised by CFO South Africa in partnership with …

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Added by CFO South Africa on August 21, 2015 at 11:00 — No Comments

Brimstone reports a R480.1 million loss

Brimstone Investment Corporation Ltd, a South African black-controlled and managed investment company, has reported an H1 loss of R480.1 million. During the same period last year, the company declared a profit of R309.7 million. Intrinsic net asset value also decreased, dropping…

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Added by CFO South Africa on August 21, 2015 at 8:14 — No Comments

Newsletter: 5 areas of improvement for integrated reports | 9 mega trends that shape Africa's future | Once empowered, always empowered?

CFO South Africa Newsletter | Thursday 20 August…


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Added by CFO South Africa on August 20, 2015 at 10:43 — No Comments

Liberty Holdings to invest $80 million in Nigeria

South Africa's fourth-largest insurer, Liberty Holdings, has announced plans to invest up to $80 million in two deals in Nigeria by end 2015. Casper Troskie, Liberty CFO, noted that the company has been negotiating with parties in Nigeria to acquire stakes in their businesses, and that Liberty has made good progress in this regard

Also read:…

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Added by CFO South Africa on August 20, 2015 at 9:30 — No Comments

Gustav Raubenheimer appointed as CFO of African Bank

As of end July 2015, Gustav Raubenheimer is CFO Designate of Good Bank (African Bank) and its new holding company.

Raubenheimer, a qualified Chartered Accountant and Chartered Financial Analyst,  joined African Bank in October 2012, in the position of Executive for Credit. Prior to this he…

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Added by CFO South Africa on August 19, 2015 at 11:30 — No Comments

Editorial: what about 'once empowered, always empowered'?

Rest assured, I am not going to give a verdict on 'once empowered, always empowered'. The topic is simply too complicated and hotly-debated for me to barge in like a bull in a China shop. Fact is though, that this controversial part of B-BBEE is keeping CFOs more than busy.…

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Added by Joël Roerig on August 19, 2015 at 9:47 — No Comments

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