Stanlib is the largest unit trust manager in the country and one of the leading asset and wealth managers in South Africa and emerging markets. The company is based in Johannesburg and has a footprint in seven African countries. The company was formed in 2002 when Liberty and Standard Bank’s asset management and wealth businesses merged. It is the biggest unit trust company in South Africa, managing assets for over 350,000 clients and employing almost 550 employees directly.…Continue
Added by CFO South Africa on November 30, 2011 at 11:30 — No Comments
Foreign investors are confused by conflicting messages from the government on the Walmart deal, says Gauteng economic development MEC Qedani Mahlangu. In May, the Competition Tribunal authorised Walmart to buy a 51% holding in Massmart , subject to the companies setting up a fund to assist local suppliers and manufacturers. Three Cabinet ministers are appealing against the approval, while Ms Mahlangu is in talks to access the companies’ enterprise fund. "We are saying different things at…Continue
Added by CFO South Africa on November 30, 2011 at 8:30 — No Comments
"I see right through you."
If only we could...
Today’s financial world is – to say the least – a tumultuous place. Can we still trust it, really? If we are to believe critics, all is to blame on finance professionals lacking integrity. Clearly, we would never claim that finance professionals in fact lack certain ethics, but let’s face it – you need a bit more than just being a good boy or girl to cut it in today’s corporate world. It is a thin line between being…
Added by CFO South Africa on November 23, 2011 at 14:30 — No Comments
CFO South Africa interviewed a large number of CFOs and CEOs of leading South African companies. Meet Mr. Chris Beukman, CFO of Deloitte, one of South Africa’s leading professional services firms staffing over 3700 employees. Chris matriculated in 1968 in Pretoria and completed BCom (Acc) (Hons) at University of Pretoria in 1973. He joined Pretoria based accounting practise Van Geusau, Coetzee & De Wit as a trainee accountant in 1973 and was qualified as…Continue
Added by CFO South Africa on November 22, 2011 at 9:00 — No Comments
WITH investor demand being hampered by enduring economic challenges and stalled global growth, Auction Alliance is predicting a gradual and patchy recovery for the local commercial property sector over coming months, with certain segments expected to perform better than others. The values of both residential and commercial real estate assets in SA are expected to fall by a further 10% over the next 12 months according to Auction Alliance.
The auctioneer warned…
Added by CFO South Africa on November 21, 2011 at 10:10 — No Comments
Shoprite yesterday told holders of shares on its Zambian register that dividends will not be paid because of litigation over missing shares worth R70m. Executive director Carel Goosen confirmed that an extraordinary meeting of shareholders in Lusaka was told all Zambian dividends would be put into an escrow account until it could be established which shares were legitimate and which were not.
At the time of the results conference in August, CEO Whitey Basson…
Added by CFO South Africa on November 18, 2011 at 9:30 — No Comments
Is SA’s public debt too big, or is there another problem? Moneyweb jurnalist Felicity Duncan elaborates on South Africa's position in what seems to be a trend in today's global economy.
Last week, the ratings agency Moody’s lowered its outlook on South African sovereign debt to negative, effectively placing the country on watch for a downgrade from…
Added by CFO South Africa on November 16, 2011 at 14:00 — No Comments
CFO South Africa interviewed a large number of CFOs and CEOs of leading South African companies. Meet Norman Thomson, CFO of Woolworths, one of South Africa’s largest chain of retail stores. Woolworths staffs 18000 people, of which 240 at the financial department of the Johannesburg based head office. Woolworths currently has a yearly turnover of R25.8bn and makes R2.3bn profit before tax (pbt).
After having completed a B Com at Rhodes University, Norman pursued a Certificate in…
Added by CFO South Africa on November 16, 2011 at 10:30 — No Comments
Today’s CFOs are under more pressure than ever. Economic uncertainty, increased regulatory requirements, financial restatements and increased investor scrutiny have forced them into the spotlight. At the same time, they face never-ending pressure to cut costs, grow revenue, ensure controls, and are even put at personal risk for the company’s mistakes. Given these pressures, it’s no wonder that CFO turnover is on the rise and the role is under greater scrutiny, internally and…Continue
Added by CFO South Africa on November 14, 2011 at 14:30 — No Comments
Guest writer Susheila Moodley writes about the urgency and the need for the compliance industry in South African business, along with how a qualification in the industry creates stability and opportunities in business.
The need for compliance has often created niche markets to service businesses that require support in becoming compliant. The emergence of these new enterprises are based upon specialist skills that individuals have... these specialist skills are often in…Continue
Added by CFO South Africa on November 14, 2011 at 11:00 — No Comments
CFO South Africa has interviewed a large number of CFOs and CEOs of leading South African companies. Meet Alex Smith, CFO of Altron, a large South African investment holding company. Altron currently staffs around 13.000 people, and has a turnover of R23 billion. Alex joined Altron in 2006 and appointed to…Continue
Added by CFO South Africa on November 10, 2011 at 9:30 — No Comments
Are you an accountant, recruiter, consultant, coach, student, journalist, CFO or CEO and do you have an interesting, innovative or surprising view on finance, the industry or the economy? CFO South Africa is looking for guest writers who are interested in sharing their vision with the members of the…Continue
Added by CFO South Africa on November 9, 2011 at 13:30 — No Comments
The University of Limpopo (UL) has been approved as a SAICA-accredited university last week, thereby enabling students completing the BAccSc degree at UL direct access to an accredited postgraduate programme and in turn to write the examinations towards becoming chartered accountants [CAs(SA)].…Continue
Added by CFO South Africa on November 9, 2011 at 8:30 — No Comments
Vodacom today announced changes to its Group Board of Directors. Tom Boardman has stepped down from the Board with effect from 30 October 2011, in the light of his other commitments. Vodafone Group Commercial Director Morten Lundal has stepped down from the Board with effect from 3 November 2011 and has been replaced by Ms Karen Witts (MA, ACA (UK)) with effect from 4 November 2011. Karen is the Regional Chief Financial Officer of Vodafone: Africa, Middle East, Asia and…Continue
Added by CFO South Africa on November 4, 2011 at 13:22 — No Comments
CFO South Africa has interviewed a large number of CFOs and CEOs of leading South African companies. Next in our series is Bruce Sneddon, CFO of Auction Alliance, one of South Africa’s leading auction services groups, staffing 175 people and a turnover of R300m. Bruce joined Auction Alliance in…Continue
Added by CFO South Africa on November 3, 2011 at 11:30 — No Comments
Ever heard of the book ‘The 7 Habits of Highly Effective People’ by Stephen Covey? You should! We think it is one of the best, well, at least one of the best selling management books ever – an impressive 22 million copies…Continue
Added by CFO South Africa on November 2, 2011 at 10:00 — No Comments