August 2017 Articles (90)

Trade surplus at R9 billion

In July, South Africa’s trade surplus slid to R8.99 billion, some $688 million at the current rate of exchange, from a revised R10.56 billion surplus in June. This, according to data from the revenue agency.

Moreover, according to the South African Revenue Service, exports fell 8.7 percent, to R93.1 billion, on a month-on-month basis,…

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Added by CFO South Africa on August 31, 2017 at 15:00 — No Comments

EY launches blockchain-based vehicle ownership platform

Financial services behemoth EY has announced the launch of Tesseract, an integrated mobility platform underpinned by blockchain technology. The platform facilitates fractional vehicle ownership, shared use and seamless multimodal transport and it will help lay the groundwork for how autonomous vehicle fleets can be owned…

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

CFOs urge Trump to curb Twitter outbursts – survey

Chief financial officers in the United States are concerned about how President Donald Trump's off-the-cuff Twitter posts and public comments affect business, a new survey finds.

Results also show that CFOs are feeling the most confident about economic growth than they've been in more than a dozen years, and…

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

Sibanye Gold now Sibanye-Stillwater

Sibanye Gold has changed its name to Sibanye-Stillwater, following the successful acquisition of US-based Stillwater Mining.

The company also announced its six-month results to end June 2017,…

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Added by CFO South Africa on August 30, 2017 at 19:00 — No Comments

Leverage digital technologies to mitigate challenges and drive growth

“With the gap between technology and business all but disappearing, decision-makers are faced with a choice of either embracing a new, disruptive environment or become irrelevant to those companies that do,” says Sneha Shah, MD for Africa at Thomson Reuters. “Unfortunately, many still perceive digitalisation to only be about…

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

Finance Indaba 2017: EOH products suit any business

"The Finance Indaba  is a great opportunity to demonstrate that our product and services offering fits the needs of the all the South African businesses, no matter what their size is," says Paco Cervantes, Oracle Services Business Unit Manager…

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

Bidvest continues to grow amid economic volatility

South African industrial conglomerate Bidvest announced that it managed to grow its full-year trading profit by 4.6% to R6 billion, defying challenging market conditions, in a results statement issued on Monday.

Income from investments increased 34.5% to R210.8m, while headline earnings per share rose 5% to…

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

Success comes from surrounding yourself with positive, life-affirming people, says Nyasha Dzumbunu, CFO of SBU

“Change is the only constant in these times. In that situation of volatility and uncertainty, we always try to stay adaptable to change. Being a more agile and adaptable organisation is critical in enabling us to survive and thrive,” says Nyasha Dzumbunu, CFO of Shanduka Black Umbrellas (SBU), one of the leading enterprises in…

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Added by CFO South Africa on August 29, 2017 at 18:00 — No Comments

BP promotes CFO Priscillah Mabelane to CEO

BP Southern Africa (BPSA) has appointed its first black female, Priscillah Mabelane, to the role of CEO. Mabelane, a CA, takes over from outgoing CEO, Daniel Odogwu, on 1 September – six years after joining the organisation as CFO in 2011.

Mabelane has more than 20 years of service in a number of key leadership positions. Prior to joining…

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

Dubai and Hong Kong sign FinTech agreement

The Dubai Financial Services Authority (DFSA) and the Securities and Futures Commission (SFC) in Hong Kong have entered into an agreement to establish a framework of cooperation on FinTech innovation. The agreement will further strengthen the efforts of both authorities to develop an innovations-friendly ecosystem…

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

Ian van Niekerk new CFO, Andrew Matseke new CEO, of Broadband Infraco

A Cabinet statement recently announced the appointment of two new executives to Broadband Infraco: Ian van Niekerk as CFO and Andrew Matseke (pictured) as CEO.

Matseke replaces Puleng Kwele as CEO – Kwele’s five-year contract ended in May, and the state-owned broadband company has been searching for a…

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

Standard Bank's Funeka Montjane: FinTech is changing the face of banking

“There’s never been a more wonderful time to be a banker,” says Funeka Montjane, CEO of Personal and Business Banking at Standard Bank. Montjane, a 2015 WEF Young Global Leader, believes that the future of banking lies in creating time for customers with the help of automation, artificial…

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

Student lender Prodigy Finance raises over R3bn

UK FinTech Prodigy Finance has raised $240 million via a funding round. A borderless FinTech platform that provides finance to international students from emerging markets to study at top business schools in the UK, US and Europe, Prodigy is responsible for the world's  world's first globally enforceable credit…

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

Altron lets go of assets

JSE-listed Altron intends to finalise the disposal of non-core assets by the end of its 2018 financial year.

According to Mteto Nyati (pictured) Group CEO, Altron will dispose of decoder manufacturer Altech UEC, and electrical business Powertech Transformers, by the end of February next year.

Nyati, previously CEO of MTN South…

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

Murray & Roberts increases stake in Bombela

Murray & Roberts (M&R) has increased its stake in Bombela Concession Company (BCC), operator of the Gautrain, from 33 to 50 percent, in a R405 million transaction.

Ed Jardim (pictured), M&R spokesperson, has said that BCC has thus far delivered a return on investment of around 18 percent per year. Jardim says…

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

When Sizwe Nxasana speaks about the future of education, you listen

“We just have to look at high-paying jobs today that didn’t exist 10 years ago, in order to understand that, according to WEF, 65 percent of students entering primary school today will ultimately end up working in completely new job types that don't yet exist,” said Sizwe Nxasana, founder of Future Nation Schools, Chairman of…

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

Finance Indaba 2017: Digital transformation is a cinch with Karabina

"Karabina provides the Office of Finance with technology solutions that transform the function into a modern Digital Finance team that is able to address the growing demands of businesses for access to the right information at the right time," says Heath Turner, Director…

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

Oakbay sells Tegeta

In the second sale of its businesses this week, Gupta-owned Oakbay Investments has announced that is has sold Tegeta Exploration and Resources to Swiss-based Charles King SA. The deal has a R2.97 billion price tag.…

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

Risk-averse companies struggling with digital transformation – report

Overcoming aversion to risk is one of the most important characteristics of digitally native companies, according to a new study released today by MIT Sloan Management Review (MIT SMR) and Deloitte Digital. The sixth annual study, in its third year focusing on digital business,…

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

Finance Indaba 2017: Corporate cloud nine with Capisol

“Capisol supplies interactive cloud document management, which allows customers to easily archive all their documents electronically in the cloud through seamless integration into their accounting or HR systems," says Christopher De Zeeuw, MD…

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Added by CFO South Africa on August 24, 2017 at 6:00 — No Comments

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