SAICA and The Association of International Certified Professional Accountants (the Association) have joined forces to advance the accounting profession in South Africa by broadening access to their professional qualifications and resources.
Badibanga Promesse, the Association’s Regional Vice President for…Continue
Added by CFO South Africa on May 26, 2017 at 15:00 — No Comments
TFG, whose diversified retail footprint covers 3,328 outlets in 34 countries, has overcome difficult trading conditions to deliver 11.6 percent retail turnover growth (R23.5 billion March 2017 year-end).
CEO Doug Murray (pictured) said:
“We are extremely pleased with…
Added by CFO South Africa on May 25, 2017 at 15:00 — No Comments
The chairperson, a board member and the CFO are leaving JSE-listed Lewis Group. Lewis said in a statement that David Nurek, Lewis chairperson, had advised the board that he plans to retire after serving as a director and chairman since the group’s listing on the JSE in 2004. Les Davies, who has served as the group’s CFO…Continue
Added by CFO South Africa on May 24, 2017 at 19:00 — No Comments
Following a robust recruitment process in evaluating external and internal candidates, Pioneer Food Group, the South Africa-based food and drinks group, has appointed Felix Lombard as its new CFO. Cindy Hess held the CFO role until late 2016, a tenure which saw her nominated for the 2016 CFO of the Year Awards.
Lombard, a qualified CA(SA), also…Continue
Added by CFO South Africa on May 23, 2017 at 15:00 — No Comments
The Washington-based International Monetary Fund (IMF) has raised its forecast for economic growth in South Africa. It forecast growth of one percent for South Africa this year, up from the 0.8 percent prediction made in April.
The international lender has done this because the drought – considered the worst in more than a century – seems to have…Continue
Added by CFO South Africa on May 22, 2017 at 19:00 — No Comments
Telkom subsidiary BCX has launched a R60-million partnership with local incubator, WeThinkCode, a tuition-free programme designed to educate new software engineers. The deal will see the South African incubator expand its Johannesburg-based operations and also launch in Cape Town.
Ian Russell (pictured), CEO of BCX,…Continue
Added by CFO South Africa on May 21, 2017 at 8:00 — No Comments
The index said:
“Kenya, which is East Africa’s anchor economy (and SSA’s fourth largest), saw investment flag in 2016 after a bumper year in 2015. FDI…
Added by CFO South Africa on May 20, 2017 at 8:00 — No Comments
General Motors (GM) has announced its intentions to stop production and sale of its vehicles in South Africa by the end of 2017. GM has denied that the move was influenced by South Africa’s recent credit ratings downgrades and has said it is restructuring its business towards more profitable markets, including the US and China, where it could achieve greater return on investments…Continue
Added by CFO South Africa on May 19, 2017 at 15:00 — No Comments
Rwanda's telecom industry regulator has fined MTN Rwanda, a division of South Africa's MTN Group, $8.5 million – the equivalent of R112 million – for running its IT services outside the country in breach of its licence. In a ruling posted on its website, the Rwanda Utilities Regulatory Authority said that MTN Rwanda was hosting its IT services…Continue
Added by CFO South Africa on May 18, 2017 at 15:00 — No Comments
Vodafone Group is selling its $2.6 billion stake in Kenya’s Safaricom to its majority-owned Vodacom Group. The all-share deal will transfer a 35-percent stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit. This will raise the parent company’s stake in its South African business to about 70…Continue
Added by CFO South Africa on May 17, 2017 at 19:00 — No Comments
JSE-listed internet and entertainment group Naspers has said it will be investing R5.6 billion (€387 million) in Delivery Hero, an online food ordering and delivery company and one of Europe’s biggest startups.…Continue
Added by CFO South Africa on May 16, 2017 at 15:00 — No Comments
Asher Bonbot (pictured), a prior member of the CFO Awards judging panel and the founder and CEO of EOH, a large technology services group, has announced that he will be leaving the JSE-listed company at the end of June. Zunaid Mayet has been appointed group CEO to replace him.…Continue
Added by CFO South Africa on May 15, 2017 at 19:00 — No Comments
Added by CFO South Africa on May 14, 2017 at 8:00 — No Comments
The Competition Commission has recommended to the Competition Tribunal that the acquisition of MWEB by Internet Solutions – a subsidiary of Dimension Data – be allowed to proceed. The deal was first announced on 2 December 2016.
According to Saki…Continue
Added by CFO South Africa on May 13, 2017 at 8:00 — No Comments
National carrier South African Airways (SAA) has appointed Phumeza Nhantsi as its new permanent CFO. According to a statement by SAA, Nhantsi has served in an acting capacity since November 2015, following Wolf Meyer’s departure.
Musa Zwane, SAA acting CEO, has said that stabilisation of finances and filling vacancies are the…Continue
Added by CFO South Africa on May 12, 2017 at 15:00 — No Comments
Coca-Cola Beverages South Africa has sold 21.5 percent of the Appletiser brand. This includes a 17.5 percent stake that went to black-owned investment firm African Pioneer Group, and a further four percent to Sipho Excellent Madlala, a new entrant black empowerment partner.…Continue
Added by CFO South Africa on May 11, 2017 at 15:00 — No Comments
Added by CFO South Africa on May 9, 2017 at 15:00 — No Comments
KPMG has launched an innovate, web-based app, the Learnership Incentive Tax Tool (LITT), which calculates learnership tax allowances and generates tax schedules at the press of a button. It also provides an additional tax deduction for registered learnerships.
Mohammed Jada (pictured), Head of Corporate Tax for KPMG in South Africa,…Continue
Added by CFO South Africa on May 8, 2017 at 19:00 — No Comments
For the quarter ending 31 March 2017, the MTN group recorded a 7.1 percent increase in revenue, despite a slight drop of 1.5 percent in subscriber numbers. Data revenues were also up 29.4 percent year-on-year – data revenue contributing 20 percent to total revenue.Continue
Added by CFO South Africa on May 7, 2017 at 8:00 — No Comments
Discover Digital, MTN Group’s former video-on-demand provider, is launching a new online TV service in South Africa; one that will rival Neflix – which has become increasingly popular. The service will provide a mix of pay-per-view entertainment, on-demand subscription content, and a range of sports and news coverage.
According to Bloomberg, Discover Digital has also…Continue
Added by CFO South Africa on May 6, 2017 at 8:00 — No Comments