news (852)

CIMA announces new Africa regional board

Following a call for nominations and elections for the first Africa regional board under the Association, Badibanga Promesse (pictured), regional VP Africa for CIMA, has announced that the following people have accepted their election…

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Added by CFO South Africa on July 23, 2017 at 8:00 — No Comments

Ned Segal named new Twitter CFO

Ned Segal (pictured), who spent 17 years at Goldman Sachs Group, has been named the new chief financial officer of Twitter. The 43-year-old former banker, currently a senior vice president of finance at Intuit Inc., will take over the CFO role from Anthony Noto (who will remain chief…

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Added by CFO South Africa on July 22, 2017 at 8:00 — No Comments

Claas Kuehnemann appointed SAP SA acting MD

German-based software giant SAP has appointed 25-year veteran Claas Kuehnemann (pictured) as acting managing director for Africa. This following allegations that the company's South African subsidiary paid a Gupta front R100 million in kickbacks for it to access lucrative state contracts. SAP has initiated an independent investigation into the…

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Added by CFO South Africa on July 20, 2017 at 15:00 — No Comments

Matone Ditlhake new CEO of Optic Comm Networks

Former CFO Awards nominee Matone Ditlhake has left his role in finance at Groupe SEB to fill the CEO role at Optic Comm Networks, a company partly owned by The Wired Corp.…

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Added by CFO South Africa on July 19, 2017 at 19:00 — No Comments

Robert van Niekerk new Sibanye executive VP

Sibanye Gold has announced that Robert van Niekerk (pictured) has been appointed executive vice president: SA Region. Van Niekerk's appointment follows the acquisition of Stillwater Mining Company in May 2017, and a subsequent transition of the Sibanye Group organisational structure from a divisional commodity structure to a geographical…

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Added by CFO South Africa on July 18, 2017 at 15:00 — No Comments

Bothwell Mazarura new Kumba CFO

Kumba Iron Ore has appointed Bothwell Mazarura (pictured) as chief financial officer and executive director, effective 1 September 2017. Mazarura takes over from Johan Prins, Kumba’s head of finance, who has…

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Added by CFO South Africa on July 17, 2017 at 19:00 — No Comments

Value of M&A transactions in SSA reached US $18.1 billion in H1 2017

According to Thomson Reuters, the value of announced M&A transactions involving Sub-Saharan African targets reached $18.1 billion in the first half of this year – the highest since 2013. Inbound M&A reached a four-year high of $10 billion, with the US, the…

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Added by CFO South Africa on July 16, 2017 at 8:00 — No Comments

Bulelwa Mdlophane new CFO for CIB Global Market

Standard Bank has appointed Bulelwa Mdlophane as its new chief financial officer for Corporate and Investment Banking (CIB) Global Market. Mdlophane says the appointment as CFO came after she had been “filling in” the role for almost 12 months.

Mdlophane, who began her career at Deloitte, where she stayed as an audit manager for three years post articles, has been with Standard Bank for just shy of eight years. She…

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Added by CFO South Africa on July 15, 2017 at 8:00 — No Comments

Reggie Boqo, City of Johannesburg CFO, resigns

The City of Johannesburg’s chief financial officer, Reggie Boqo, who was nominated for the 2017 CFO of the Year Awards, has resigned. Reggie has said he intends to explore new ventures outside the Metro before his contract comes to an end in December.…

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Added by CFO South Africa on July 14, 2017 at 15:00 — No Comments

SA’s shadow economy to rise, warns ACCA

“There was a decrease in the overall size of South Africa’s shadow economy’s share of GDP since 2011; a positive sign that efforts to curb its impact have been implemented in recent years. But that’s the end of the good news, as the future trend is profoundly opposite,” says Pat Semenya (pictured), head of ACCA South Africa.

  • ACCA…
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Added by CFO South Africa on July 13, 2017 at 15:00 — No Comments

South Africans need to work together, says Investec CEO Stephen Koseff

Addressing the July 2017 graduates of the Wits University Faculty of Commerce, Law and Management, Stephen Koseff, CEO of Investec Bank and a Wits University Alumni, said South Africans need to work together and find a new social pact that transcends ideologies and backgrounds, and unite under a common goal to…

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Added by CFO South Africa on July 12, 2017 at 19:00 — No Comments

The CFO Case Study Competition 2017 has its top six entrants

The Top 6 teams of the global edition of The CFO Case Study Competition 2017 have been selected. Some 2,300 entries were received this year, including both the CFO Case Study and the Junior National version for South African High Schools.

Valentine Nti (pictured), the Project Founding Director,…

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Added by CFO South Africa on July 11, 2017 at 15:00 — No Comments

JSE retrenches staff in cost-cutting measures

According to the JSE, a two-year cost-cutting programme could see up to 14 percent of its staff retrenched.

Nicky Newton-King (pictured), JSE CEO, said in a statement:

"We are taking these difficult steps, particularly regarding our staff, while recognising our responsibility to operate the JSE so as to enhance the…

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Added by CFO South Africa on July 10, 2017 at 19:00 — No Comments

SA’s net foreign reserves up to $42.235 billion

According to the Reserve Bank, South Africa’s net foreign reserves rose to $42.235 billion in June, up from $42.016 billion in May.

The central bank data further showed that gross reserves increased to $47.352 billion, up from $47.241 billion.

Furthermore, the forward position, which represents the central bank’s unsettled or…

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Added by CFO South Africa on July 9, 2017 at 8:00 — No Comments

Hollard acquires Regent Insurance from Imperial

The Hollard Insurance Group, South Africa’s largest independent insurance group, has cemented its place as the second-largest short-term insurer with the completion of its R1.8 billion acquisition of the Regent Insurance Group from Imperial Holdings.…

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Added by CFO South Africa on July 8, 2017 at 8:00 — No Comments

Three new executives for Alexander Forbes, including a Group CFO

Alexander Forbes has announced three key executive appointments: Naidene Ford-Hoon as Group chief financial officer (GCFO), Christian Schaub as Group chief human resources officer (GCHRO), and Thabo Mashaba, who is assuming a new role of Group chief empowerment & transformation officer…

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Added by CFO South Africa on July 7, 2017 at 15:00 — No Comments

Robert Katz appointed Peregrine Holdings’ interim CEO

Peregrine Holdings has said that, following CEO Jonathan Hertz stepping down as of end June, it has appointed Rob Katz as interim CEO, effective 1 August 2017. Rob was a nominee both this year and in 2016, for the CFO of the Year Awards.

“You cannot afford to crack under the pressure. You can never go backwards; you have to go forward," Rob said in a…

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Added by CFO South Africa on July 6, 2017 at 15:00 — No Comments

Umar Banda appointed Tshwane CFO

Umar Banda, nominated for the 2017 CFO of the Year Awards, has been permanently appointed to the position of City of Tshwane CFO – a role he has filled in an acting capacity since 2014.…

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Added by CFO South Africa on July 5, 2017 at 19:00 — No Comments

IRBA to probe KPMG as latest Gupta scandal breaks

Audit watchdog, the Independent Regulatory Board for Auditors (IRBA) is investigating whether KPMG defied regulation when it audited a company owned by the Gupta family. This, after reports following an investigation by AmaBhungane and Scorpio revealed that government funds intended for empowerment…

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Added by CFO South Africa on July 4, 2017 at 15:00 — No Comments

Nhlanhla Nene new Wits Business School head

Former Finance Minister Nhlanhla Nene (pictured) began his new job today as head of the Wits Business School (WBS). Nene will serve as the business school’s interim director until a new leader can be appointed ahead of the start of the next academic year.…

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Added by CFO South Africa on July 3, 2017 at 19:00 — No Comments

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