September 2015 Articles (49)

Exclusive CFO Dinner with world-renowned audit expert

World-renowned audit expert Dan Montgomery is the main draw card during an intimate, exclusive dinner for top CFOs at the Marion on Nicol on 12 October 2015. The dinner will be hosted by CEO Sindi Zilwa of fast-growing assurance and advisory firm Nkonki, who…

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

Business leaders weigh in on the impact of global megatrends

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“We live in a world in constant motion. Goods, capital and labour are traveling globally at a faster pace than ever and moving in novel patterns. Technological innovation, including digital, is rewriting every industry and the way in which human beings manage their…

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Added by CFO South Africa on September 30, 2015 at 8:00 — No Comments

Nampak targets 100% share in Angolan market

As Angola's buyers seek a local can manufacturer in response to government plans for an import duty on the industry, so Nampak has decided to target a 100% market share in the country.

  • Read our recent article about Nampak's appointment of a new CFO, Glenn Fullerton,…
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Added by CFO South Africa on September 29, 2015 at 11:30 — No Comments

The Crisis Manager, Sasol CFO Bongani Nqwababa

He sure doesn't choose the easiest CFO roles, does Bongani Nqwababa. After a career at firms like Shell Southern Africa, Eskom and Anglo American Platinum (Amplats), he is currently tasked with navigating national pride Sasol through a tricky period of low oil prices. Luckily,…

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Added by CFO South Africa on September 29, 2015 at 8:00 — No Comments

SA property market slows

According to the FNB South African Estate Agent Survey for Q3 of 2015, activity in the South African residential property market appears to be slowing down, which could have implications for near-term mortgage lending growth. On a year-on-year basis, Q3 saw marked decline in the residential activity rating…

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Added by CFO South Africa on September 28, 2015 at 11:30 — No Comments

Tax Indaba: parliament looks at 'creative ways' to increase tax base

The Parliament’s Standing Committee on Finance is looking at 'creative' ways to increase the tax base, including tyre and electricity levies, and is intensifying work on double taxation agreements and legislation, in the hope of discouraging multinationals from exploiting loopholes. That was the…

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Added by CFO South Africa on September 28, 2015 at 8:00 — No Comments

Mozambican expansion for Engen

Engen, Africa's largest energy multinational, operating in 18 countries in sub-Saharan Africa and the Indian Ocean Islands, has announced it will be opening a further three service stations in Mozambique – two in Inhambane and one in Maputo. The company currently operates 16 services stations in the…

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Added by CFO South Africa on September 27, 2015 at 11:30 — No Comments

$400 million investment in SA solar thermal plant

Most South Africans are well aware of the country's pressing electricity shortage. Overseas Private Investment Corp. (OPIC), the US government’s development bank, has announced it will invest as much as $400 million in a South African solar thermal plant.

  • Read an article published…
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Added by CFO South Africa on September 25, 2015 at 11:30 — No Comments

Lessons from a successful exit: iKubu bought by Garmin

Franz Struwig learnt some valuable lessons on the way to seeing his start-up iKubu bought out by global navigation provider Garmin.

When Struwig first set up an engineering hub in a house in Somerset West eight years ago, he had little ambition…

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

Strikes cost South Africa R6 billion in 2014

Many have surely heard of "strike season" – that dreaded time of year when wage negotiations take place. But how many of us know the damaging economic impact thereof?

A recent report published by the Department of Labour has revealed that strikes cost South Africa as much as R6 billion in…

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

Newsletter: CFOs are myth busters | CFO event dives deep into Planning, Budgeting & Forecasting | Revered FirstRand CEO Sizwe Nxasana steps down

CFO South Africa Newsletter | Thursday 24 September…


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

MTN Zakhele first BBBEE scheme to list on JSE

Established in 2010, MTN Zakhele, a vehicle for previously disadvantaged South Africans to invest in MTN Group Limited, has announced that it intends to list its ordinary shares as BEE Securities on the BEE Segment of the JSE on 5 November this year. The empowerment scheme, which raised…

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

KPMG expert talks cyber security

Speaking at CFO South Africa's recent  event, which followed the theme of 'Digital Transformation', Nathan Desfontaines, Information Security & Protection & Business Resilience Manager at KMPG, both informed and entertained attendees on the importance of cyber security.…

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Added by CFO South Africa on September 23, 2015 at 8:00 — No Comments

Food giant Kellogg expands into Africa

Kellogg has agreed to purchase a 50% stake in Multipro, a Nigerian food distributor, for some $450 million. Costs associated with the Multipro deal will reduce earnings per share by 1 cent in the third quarter, according to Kellogg.

The deal will also result in a…

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Added by CFO South Africa on September 22, 2015 at 11:30 — No Comments

CFOs are myth busters, says retiring Standard Bank CFO Simon Ridley

“As CFOs we need to be trusted advisors, rather than critics,” says Simon Ridley, CFO at the Standard Bank Group and last year’s CFO of the Year.  In an exclusive interview with CFO South Africa, Ridley talks about the myth busting…

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Added by CFO South Africa on September 22, 2015 at 8:00 — No Comments

Brait sells bonds worth $540 million to fund acquisitions

Investment company Brait SE, controlled by Christo Wiese, has sold $539 million of five-year convertible bonds in order to fund acquisitions. According to the company, it intends to use the proceeds for general purposes, with a primary focus on funding strategic acquisitions.

The company said in…

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Added by CFO South Africa on September 21, 2015 at 10:30 — No Comments

IP theft, extortion and interuption - a new generation of cyber risks

CFOs should prepare for a new generation of cyber risks which are fast evolving, moving beyond the established threats of data breaches, privacy issues and reputational damage to operational damage, business interruption and even potentially…

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Added by CFO South Africa on September 21, 2015 at 8:00 — No Comments

Stenprop CFO says a move to the JSE will come soon

Stenprop CFO Patsy Watson has said that the ALTX-listed company, with assets worth some R6 billion, is on track to move to the main board by end 2015. The company focuses on property investment in the UK, Germany and Switzerland.

For the three-month period to June…

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Added by CFO South Africa on September 20, 2015 at 11:30 — No Comments

Revered FirstRand CEO Sizwe Nxasana steps down

Sizwe Nxasana, who took over from Laurie Dippenaar as CEO of banking…

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

Planning, budgeting and forecasting CFO Master Class sparks lively audience debate

As many CFOs anxiously await further announcements regarding interest rate hikes and how this may affect their business and their budgets, last night's CFO South Africa event was both well timed and well attended.…

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Added by CFO South Africa on September 18, 2015 at 11:30 — No Comments

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