December 2011 Articles (12)

Bennie van Rooy – CFO JD Group: "Strategic targets will be broken down into components"

JD Group wants to “to be world-class in our fields of expertise”. It is strategically positioned in Southern Africa as a leading diversified mass consumer financier and a differentiated furniture, appliance, electronic goods, home entertainment and office automation retailer. The Group primarily targets the mass middle market with a secondary focus on the top and bottom end market segments. The Group operates 1138 stores across Southern Africa and Poland. JD Group was listed on Johannesburg…

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Added by CFO South Africa on December 20, 2011 at 12:30 — No Comments

Tyrone Soondarjee – CFO Sasfin Bank: "Use your position to improve quality decision matters in defining the future of a company"

Supplement your qualifications with solid practical experience and ensure continuous professional development to stay relevant in a fast changing global economy. That is the vital advice given to you by Tyrone Soondarjee, CFO of Sasfin Bank, when asked what vital piece of advice he would give ambitious finance professionals who 'want to make it big' in the industry. Like himself, in a way.

 

Sasfin Bank was founded in 1951 by Sydney Sassoon, the father of…

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Added by CFO South Africa on December 19, 2011 at 8:30 — No Comments

Peter Duffy – CFO 1time: "Budgeting and forecasting are still key aspects of the financial role"

1time Holdings - a diversified aviation group - was listed on the Johannesburg Altex Stock Exchange on the 14th of August 2007. The company has evolved in leaps and bounds since its inception in 2004 and is the 100% shareholder in 1time Airline, 1time Charters, Aeronexus Technical and Aeronexus Corporate. Many people wonder what the name of the company reflects – well, here it is. The name 1time, is a reflection of the South African soul of the company. In South Africa, the phrase "one…

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Added by CFO South Africa on December 15, 2011 at 17:00 — No Comments

Bafokeng reaps rewards of persistence in R5.4bn deal

One of the measures of a good business book is how much you remember years after reading it. By that measure, Mark McCormack book on Negotiating rates highly. The founder of the world’s dominant sports agency IMG shared many of his experiences, all of which led to the conclusion that the best deal was one where everyone walks away with a smile on their faces. Never screw over the other side, he advised. It will always come back to bite you. The best deals are those when everyone feels they…

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Added by CFO South Africa on December 13, 2011 at 14:30 — No Comments

Frederick Kotzee – CFO Afrox: "I enjoy contributing to the strategic direction of the company"

Next in our interviews with CFOs of leading South African companies is Frederick Kotzee, CFO of Industrial gas and welding products group African Oxygen (Afrox). A company with a long history; it was founded as early as in 1927. In 1963, Afrox was listed on the JSE. The company has a yearly turnover of R5bn and staffs nearly 4000 employees.  

 

Frederick joined Afrox as Financial Director in 2010.  He is a charted accountant, and also has two legal degrees; BProc and LLB.  Add…

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Added by CFO South Africa on December 13, 2011 at 12:16 — No Comments

South African cities: 'greenest' urban areas

Johannesburg, Cape Town and Durban are listed as ‘green above average’ according to the Africa Green City Index, which was published last week. Along with South Africa's major cities, some cities from the North Africa region were also considered the 'greenest' urban areas on the continent. Ghana’s capital Accra, is the only sub-Saharan African city (excluding South Africa) in the “above average” category.



The study, which was conducted by the Economist Intelligence Unit,…

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Added by CFO South Africa on December 12, 2011 at 6:30 — No Comments

Garth Saunders – CFO SAB Miller: "As a modern leader you need to lead by example"

CFO South Africa had the pleasure of interviewing a large number of CFOs of leading South African companies. Today we meet Garth Saunders, CFO of SAB Miller, South Africa’s premier brewer and leading distributor of beer and soft drinks. The company operates seven breweries and 40 depots in South Africa with an annual brewing capacity of 3.1 billion liters. The company has a yearly turnover of R40bn, including a R7bn profit.

 

Leading the financial department of SAB Miller –…

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Added by CFO South Africa on December 9, 2011 at 9:00 — No Comments

Vodacom recognised as Best Performer on JSE SRI Index

Vodacom was today recognised as a Best Performer company on the JSE's Socially Responsible Investment (SRI) Index.  This accolade was achieved in the low environmental impact category, and Vodacom was the only ICT company to be awarded this status. Best Performers are companies that meet their relevant environmental threshold, their core indicators for societal, governance and related sustainability concerns as well all climate change indicators. The Index philosophy is founded on…

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Added by CFO South Africa on December 6, 2011 at 17:00 — No Comments

Paul Prinsloo - CFO PwC South Africa: "Keeping financial operations at the highest standard is vital"

The role of the CFO has changed from scorekeeper, care talker and treasurer to strategic business partner, communicator, financier, finance operator, compliance steward, run rate monitor, talent manager, financial envoy. These are the words of wisdome spoken by Paul Prinsloo, CFO of PwC South Africa, South Africa’s office of the world's largest professional services firm. PwC South Africa staffs over 4,200 people nationwide, of which 100 employees in the financial department.…

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Added by CFO South Africa on December 6, 2011 at 12:00 — No Comments

What makes successful leaders tick?

New York Jets general manager Mike Tannenbaum has always been interested in what makes successful leaders tick. While still a young trainee and lower-level employee in sports management, he started calling leaders he admired to get their thoughts on which qualities were the most important. "When I became general manager of the Jets (in 2006), people suddenly started answering my phone calls," Tannenbaum noted.…
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Added by CFO South Africa on December 6, 2011 at 10:30 — No Comments

Break up the big-four auditors?

The SA Institute of Chartered Accountants (Saica) has decided not to comment on European moves to curb the dominance of the big-four auditing firms but standards boss Ewald Muller says EU commissioner Michel Barnier is “smoking his socks”. Spokesperson Bontle Sikwe said Saica has nothing to say. The accounting institute is in the invidious position of having the Big Four and thousands of smaller members. The Big Four pay by far the biggest subscriptions and contribute the…

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Added by CFO South Africa on December 2, 2011 at 11:00 — No Comments

Lawrence Weitzman - CFO Business Connexion: "Today’s CFO is much more of a business partner than the gate keeper"

CFO South Africa interviewed a large number of CFOs and CEOs of leading South African companies. This time we get to talk to Lawrence Weitzman, CFO of Business Connexion, Africa’s leading ICT Solutions provider. Business Connexion is a JSE-listed company employing about 6500 people. Lawrence is responsible for the finance and commercial departments, staffing about 200 people. BCX will have revenue of R6bn in 2012 at a 6% operating…

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Added by CFO South Africa on December 1, 2011 at 14:30 — No Comments

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