November 2015 Articles (49)

Leslie Maasdorp CFO of Brics New Development Bank

Formal responsibilities have been allocated to the four vice-presidents of the Brics (Brazil, Russia, India, China, and South Africa) economic grouping’s New Development Bank. Bank vice-president (and South African) Leslie Maasdorp (pictured), has been named CFO. He…

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

Concern about upward trend in the debt-to-GDP ratio

Speaking at this year's Tax Indaba at the Sandton Convention Centre, the chief of the National Treasury’s Budget Office, Michael Sachs, said he was troubled by the upward trend in the debt-to-GDP ratio…

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

Neotel CFO Steven Whiley resigns

Steven Whiley (pictured), the CFO of fixed-line telecommunications company, Neotel, has resigned. This comes in the midst of an investigation into allegations of bribery and corruption in connection with a Transnet deal worth R1.8 billion. Neotel CEO, Sunil Joshi, was also implicated, and is currently on special leave pending the outcome.

  • Whiley was featured as our…
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Added by CFO South Africa on November 29, 2015 at 11:30 — No Comments

SA narrowly escapes recession

Although agriculture, mining and electricity are in recession, manufacturing has rebounded, helping the country to avoid – albeit just barely – a…

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

Old Mutual now holds 100% of African Infrastructure Investment Managers

Old Mutual Alternative Investments (OMAI), part of the Old Mutual Investment Group, has acquired 50% of African Infrastructure Investment Managers (AIIM) which, given it already owns 50%, now makes it the exclusive shareholder of the pan-African investment…

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

Be disrupted or die - CFO master class at the Oracle Cloud Day

"We have to be willing to be disrupted or we die. As the finance department we need to recognise this. We also need to be willing to invest in technology." That was one of the foremost conclusions by Oracle's Dee Houchen during the CFO South Africa master class on…

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Added by CFO South Africa on November 25, 2015 at 11:30 — 1 Comment

Oracle Cloud Day: lessons from Uber, Intel and Cell C

"It is our job to keep ourselves up to date so we can make the right decisions," said Oracle's Andrew Sutherland. Kicking off the…

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

Edcon CEO Bernie Brookes working hard to turn company around

Edcon, the largest non-food retailer in South Africa, has been in operation for more than 80 years and has expanded its footprint to include over 1,400 stores through nine different store formats. Two months ago it appointed Bernie Brookes, the former CEO of Myer…

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

David Hodnett, with Barclays Africa to ‘fully international, fully regional and fully local’

As deputy chief executive officer and finance director, David Hodnett is the right hand of CEO Maria Ramos at Barclays Africa. In an exclusive interview with CFO South Africa, he speaks about his love for detail, his relationship with Ramos and the creation of…

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

Vodacom sued for R197 billion in DRC

It hasn't been a great month for network services providers in Africa. MTN landed itself in hot water up in Nigeria, while in the DRC, a shareholder from one of Vodacom's minority partners is suing the company for close on R200 billion.

  • Read more about MTN's Nigerian fine…
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Added by CFO South Africa on November 23, 2015 at 11:30 — No Comments

Funding and regulation hindering startup success South Africa

Industry experts agree that South African startups have what it takes to succeed on the global stage, but structural issues are hindering development. While executives from South Africa’s leading enterprise development incubators are bullish about the progress being made and about the standard of South…

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

SAA suspends Sylvain Bosc, chief commercial officer

Following in the wake of the company's CFO, Wolf Meyer's resignation earlier this week, SAA has announced that it has suspended its chief commercial officer, Sylvain Bosc (pictured).

  • Read the story of Wolf Meyer's resignation…
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Added by CFO South Africa on November 22, 2015 at 11:30 — No Comments

What can CFOs and entrepreneurs learn from each other?

CFOs and entrepreneurs are known to sometimes bump heads. Why wouldn't they, there's so much to disagree on. But, if last night's CFO South Africa event…

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

Entrepreneur versus CFO question sparks lively debate at last night's event

On Thursday 19 November at The Turbine Hall in Newtown, CFO South Africa held an event (which company managing director Graham Fehrsen later promised would become an annual on the events calendar), asking what CFOs and entrepreneurs can learn from each other. The master class sparked lively debate,…

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Added by CFO South Africa on November 20, 2015 at 8:00 — No Comments

Mr Price sees rise in profit and sales

Durban-headquartered Mr Price, South Africa’s biggest listed clothing retailer, has reported a 16.6% rise in half-year (H1) profit. Sales rose 8.6%, to R8.5 billion.

According to the company, diluted headline earnings totalled 406.8 cents/share in H1, to end September. For this…

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

Newsletter: MiX Telematics: listing at the NYSE | SAA CFO Wolf Meyer resigns | Relief for consumers: max interest rates revealed

CFO South Africa Newsletter | Thursday 19 November…


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Added by CFO South Africa on November 19, 2015 at 8:00 — No Comments

SAA CFO Wolf Meyer resigns

Wolf Meyer, chief financial officer of South African Airways (SAA) has resigned. The announcement follows allegations of financial disputes between Meyer and the company's board of directors, as well as a reported breakdown of trust.…

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

Dee Houchen (Oracle): cloud enables speed and innovation

How long do cloud ERP implementations take? Do they stay within budget? What are the risks? If you’re interested an answer to any of those questions, you simply cannot miss the CFO track of the Oracle Cloud Day on…

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Added by CFO South Africa on November 18, 2015 at 8:00 — No Comments

Aliko Dangote resigns from Dangote Flour

Africa’s richest man, Aliko Dangote, along with three other directors, yesterday announced their resignation from the board of Dangote Flour Mills.

  • Read our previous article on…
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Added by CFO South Africa on November 17, 2015 at 11:30 — No Comments

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