November 2016 Articles (74)

SA Taxi to pump R300m into Zebra cab owner-driver scheme

SA Taxi has secured R300 million in funding from Futuregrowth Asset Management, which will be used to finance the company's Zebra Cabs owner-driver scheme. The country's largest financier of minibus taxis acquired Zebra Cabs in…

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Added by CFO South Africa on November 30, 2016 at 8:00 — No Comments

Clover's Elton Bosch nominated for CFO Awards 2017

Financial director Elton Bosch's work at Clover has been recognised with a nomination for a CFO Award. The annual 'Oscars for South African CFOs', to be held on 11 May, recognises CFOs of listed companies, large corporations, state-owned entities and government…

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Added by CFO South Africa on November 30, 2016 at 6:00 — No Comments

Ryan McDougall resigns as Trustco FD

“Trustco is one of the most dynamic and progressive organisations I’ve ever come across and it has been a pleasure to work here,” says Ryan McDougall (pictured), outgoing financial director of Trustco. McDougall, a nominee of the CFO Awards 2016, recently announced that he will be leaving the Namibia-based Trustco at the end of December this year, and…

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Added by CFO South Africa on November 29, 2016 at 11:30 — No Comments

Finance teams are a sounding board for decision-makers, says Philip Timberlake, CFO of Liberty Health

When he’s not hard at work heading up the finance team at Liberty Health, CFO Philip Timberlake can be found running along his favourite trails on Table Mountain, developing his “mental fortitude”. The key to being a successful CFO lies in communication, he says: “Within our economy of knowledge, ideas are currency. Of course, to understand,…

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Added by CFO South Africa on November 29, 2016 at 6:00 — No Comments

$200 million ploughed into Nigerian FinTech

According to global financial services giant KPMG, more than $200 million has flowed into the Nigerian FinTech space over the past two years. It called on the Nigerian government to take the initiative to further increase investment by proving incentives and a welcoming regulatory ecosystem…

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Added by CFO South Africa on November 29, 2016 at 6:00 — No Comments

Finance flash: the TOP-10 articles of week 47

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

1. …

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Added by CFO South Africa on November 28, 2016 at 15:00 — No Comments

Merchant West awarded AAA rating, lists bonds on JSE

Merchant West, an authorised financial services provider specialising in business finance and advisory services, has been awarded a AAA rating by the leading international rating agency, Standard & Poors. This is the highest credit rating that can be afforded to a company, country or structured finance transaction. In light of this,…

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Added by CFO South Africa on November 28, 2016 at 11:30 — No Comments

ACCA joins Finance Indaba 2017

The Association of Chartered Certified Accountants (ACCA) has partnered with Finance Indaba 2017. It will be the association's second showing at the event. Founded in 1904, the ACCA casts itself as the world's most forward-thinking accounting organisation, working across the globe to uplift the…

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Added by CFO South Africa on November 28, 2016 at 7:54 — No Comments

Invoice fraud and how to identify it, by John Mc Loughlin, MD J2 Software

Invoice fraud is considered a low-risk crime by fraudsters and is increasing at alarming levels because it is difficult to trace. Difficult, but not impossible!

What is invoice fraud you may be wondering? Well, it’s what happens when a genuine invoice is altered to get a customer to pay for goods or services but into the wrong account. It’s done by…

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Added by CFO South Africa on November 28, 2016 at 6:00 — No Comments

Infront opens two new SA offices as part of expansion drive

Leading, trading and information solution provider Infront has opened two new offices in South Africa, one in Johannesburg and the other in Cape Town, in a bid to stimulate local business. The company also welcomes two seniors to the local team, Renier Linde and Timothy Singh.

Kristian Nesbak (pictured), CEO and…

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Added by CFO South Africa on November 27, 2016 at 8:00 — No Comments

Lesrick Nayager takes up CFO post at Decision Inc

Lesrick Nayager (pictured) has been appointed CFO for Decision Inc., a company which represents leading global technology brands and are experts in the implementation, support and execution of such technologies.

Nayager says:

“I will support the company in its expansion plans and in keeping up with the goals…

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Added by CFO South Africa on November 26, 2016 at 8:00 — No Comments

Sanlam throws its weight behind ADDaBIT

After just two years of development, online savings platform ADDaBIT has managed to attract the interest of financial services behemoth Sanlam. The basic premise is that users choose what they want for their children – education, gifts, etc – and ask friends and family to contribute whenever they are able. There…

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Added by CFO South Africa on November 26, 2016 at 8:00 — No Comments

Oceana sees good profit, great potential for more growth

Oceana, Africa’s largest black-owned fishing company, whose finance head Imraan Soomra (pictured) was recipient of the Transformation & Empowerment Award at the CFO Awards 2015, has seen impressive results for the year ending 30 September. Group revenue grew by 34% to R8.2bn, operating profit increased by 69% to R1.7bn, earnings…

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Added by CFO South Africa on November 25, 2016 at 11:30 — No Comments

SANParks CFO Rajesh Mahabeer nominated for CFO Awards 2017

Rajesh Mahabeer has been recognised for his work at SANParks by being nominated for a CFO Award. The annual 'Oscars for South African CFOs', to be held on 11 May, recognises CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them…

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Added by CFO South Africa on November 25, 2016 at 6:00 — No Comments

Netcare profits jump 19%

If the world's economy has slowed, Netcare does not seem to be feeling it. In the Group’s 2016 annual financial results released on 21 November, it noted that group revenue was up 12.1%, to R37 796 million, group EBITDA was up 11.2% to R5 539 million, and normalised profit after taxation was up 19.1% to R2 906 million.…

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Added by CFO South Africa on November 24, 2016 at 11:30 — No Comments

Solar for a new Africa: WATCH The Sun Exchange's Morwesi Ramonyai at #afta16 #findaba16

Africa has a huge untapped potential for solar power generation and initiatives that electrify businesses and impoverished communities could help the continent meet its economic development goals. At the African FinTech Awards at the Finance Indaba Africa 2016 in October, The Sun Exchange…

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Added by CFO South Africa on November 24, 2016 at 6:59 — No Comments

Clean audit for Department of Social Development

The Department of Social Development, whose finance division is headed up by 2016 CFO Awards nominee Clifford Appel, has received a clean audit for the year 2015/2016. It was one of nine other national departments to achieve this hard-won feat. According to the auditor-general (AG), the number of auditees that received…

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Added by CFO South Africa on November 23, 2016 at 11:30 — No Comments

Cartesian Capital and Gareth Cliff launch innovative #Invest

Anthea Gardner of Cartesian Capital and popular radio DJ and TV personality Gareth Cliff have launched an investment product they hope will “uberise” the investment industry.

Simply called #Invest, the product was devised during the pair’s weekly money show on Cliff’s…

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Added by CFO South Africa on November 23, 2016 at 8:00 — No Comments

Atlas Mara's Arina McDonald nominated for CFO Awards 2017

Arina McDonald has been recognised for her work at Atlas Mara by being nominated for a CFO Award. The annual 'Oscars for South African CFOs', to be held on 11 May, recognises CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them for…

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Added by CFO South Africa on November 23, 2016 at 6:00 — No Comments

Zuretha Steyl new LexisNexis CFO

Zuretha Steyl (pictured) has been appointed chief financial officer of LexisNexis South Africa, a provider of content and technology solutions for the legal and professional markets, effective 1 November 2016.

Steyl joins LexisNexis from Adapt IT, where she…

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Added by CFO South Africa on November 22, 2016 at 11:30 — No Comments

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