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Your source for the latest news, expert insights and interviews.

21 March 2017

Mena region set for FinTech boom

The Middle East and North Africa (Mena) is set to experience a boom in fintech innovation over the next three years, propelled by a large unbanked population, VC inflows and the rapid emergence of a host of new startups, according to a state of the nation report prepared by local payment services outfit Payfort and entrepreneurial platform Wamda. According to the report, the number of startups in Mena’s FinTech ecosystem doubled from 46 to 105 over the three years 2013 to 2015 and the region could see a total of 250 FinTech startups launch by the year 2020.

17 March 2017

Remgro suffers faltering Mediclinic investment

Investment holding group Remgro reported a 15% decline in intrinsic net asset value per share to R257.79 for the six months to December 2016 on the back of a 38,7% drop in the market value of its Mediclinic stake. The London-listed business represents its single biggest investment. The underperforming Middle East division was impacted by a number of operational and regulatory factors, including the new insurance co-payment requirements, doctor vacancies and delayed facility openings.

16 March 2017

SA's first online credit facility: WATCH Mobicred CEO Geraldine Anderson at #afta16 #findaba16

Mobicred is a simple and convenient credit facility that allows you to safely shop online with participating retailers. It charges interest rates comparable to those of credit card providers and only levies monthly fees while the account is used. When a buyer – who first undergoes a simple online registration process with Mobicred – pays using the facility, the seller will immediately receive the full amount, without the risk of payment reversals.

15 March 2017

Real empowerment remains elusive, says IRBA's top brass

“More focus should be given to long-term career prospects, including equity partnerships and senior management and executive responsibility. Transformation is not about the de-racialisation of the overall profession; it is about financial inclusion, ownership and access to markets and opportunity,” says Bernard Agulhas (pictured), CEO of the Independent Regulatory Board for Auditors (IRBA). In Agulhas’s opinion, transformation must move beyond numbers and begin to truly empower black accountants and black-owned auditing firms. This includes providing equal opportunities to access the audit market, he says.

14 March 2017

The CFO must be a voice of reason in the boardroom, says Frencel Gillion, CFO of KTH

“What makes me able to do this job is a strong understanding of the business, its operations and risk, as well as fundamentally accepting the need to grow the business,” says Frencel Gillion, CFO of Kagiso Tiso Holdings (KTH). “I think a CFO should have a strong grasp of the numbers but also be able to intuit what is happening within the business and be able to communicate this to the stakeholders through the financials. It’s not just about regurgitating numbers.”

13 March 2017

Will crowdsourcing make talent management obsolete, asks Google's Terrence Taylor?

Crowdsourcing promises to make scarce and critical skills available cost effectively, perhaps close to 90 percent cheaper, and disruptively. Yet most companies currently rely on talent management – a human resource function that has been around for over half a century but whose tools and techniques has changed little during its existence – to identify, attract, develop and keep talented people who have these sought after scarce and critical skills. The question is: will crowdsourcing make talent management obsolete?

09 March 2017

BREAKING NEWS! Deloitte supports South African CFO community

Great news for CFOs that want to boost their knowledge, network and career in 2017: professional services firm Deloitte will be the principal partner at the 2017 CFO Awards and will also be throwing its weight behind a number of learning sessions during CFO Summits for both the private as the public sector. Their experts and specialists will also be on hand to provide insight and challenge assumptions through publications in CFO Magazine and on this website.

09 March 2017

Women get the best out of staff: CHRO SA meets Servest's Noma Nyembo

Nomakuze Mguqulwa-Nyembo, group HR director at Servest South Africa, is passionate about issues concerning women in leadership, especially with regard to creating a culture that allows women rise to senior positions within their organisations, and stay there, without having to emulate the leadership styles or characteristics of their male counterparts. In fact, the natural traits of women, such as their propensity to empathise and nurture, gives them an upper hand in being able to grow people, motivate them and, therefore get the best out of employees.

09 March 2017

Shaping the culture: CHRO SA meets Openserve HR managing exec Kgomotso Molobye

Before coming to Openserve to become the managing executive of HR, Kgomotso Molobye (pictured on the right) worked predominantly in the mining and oil & gas industries, having been at AngloGold Ashanti and within the mining division at Sasol. Her current role appealed to her because of the opportunity to create a HR legacy in what was a new and free-standing entity within Telkom. Among other things, Openserve builds the infrastructure required to deliver quality broadband and fibre services, and has been key to the Telkom journey of growth and connecting South Africans by delivering access to broadband and connectivity services to service providers.

09 March 2017

Simplifying online payments: WATCH Cubebucks CEO Jan MacKay at #afta16 #findaba16

Cubebucks is a virtual currency developed on blockchain technology that fixes the value of the qb digital currency to value in your local market against the price fix of gold on the London Metal Exchange against the dollar. The FinTech firm seeks to balance accounts in a combination of bank currencies, Bitcoin and gold reserves, that will secure the exchange ability of Cubebucks for Bitcoin or Vanilla currency value.

08 March 2017

Catch up with the cloud - CFO Summit

Like the advent of the personal computer and the world wide web before it, cloud computing – Internet-based computing that provides shared computer processing resources and data to computers and other devices on demand – holds the power to have far-reaching effects on companies and employee productivity. In a world in which disruption seems to be a constant and change occurs at breakneck pace, can organisations ignore the business benefits of the cloud, which include increased productivity, IT flexibility, and performance improvement?

03 March 2017

Vodacom's Matimba Mbungela invites all HR directors to exclusive CHRO SA launch

Unlike most human resource practitioners who unexpectedly stumble into their careers, Vodacom's Chief Human Resources Officer Matimba Mbungela has had his heart set on HR since the beginning of his working life. As soon as he graduated with a Bachelor of Administration degree in 1990, he began his HR career at the department of Department of Agriculture & Forestry. From then on he moved to Mondi, Unilever, BMW SA and, in 2004 he joined Vodacom as the Group Executive for Talent, Learning and Development.

01 March 2017

Nkonki trainees achieve 92% pass rate on APC exam

Leading black-owned assurance and advisory services firm Nkonki has confirmed that it achieved a national pass rate of 92% for its candidates writing the second part of the Assessment Professional Competence (APC) exam, with its Sunninghill office achieving a pass rate of 100%. Both are considerably higher than the average national pass rate of 89% supplied by SAICA, according to whom 2,529 aspiring CAs sat for the APC in November 2016, of which 89% (2,247) passed. The firm attributes this success to the robust support it offers its trainees.

28 February 2017

Mauritius is an ideal FinTech location - Inter Pay Tech's Mark O' Sullivan

Mauritius-based payment solutions provider Inter Payments Tech will be one of the FinTechs pitching at the FinTech Africa Future of Payments event in Sandton, Johannesburg, on 14 March. Topics of discussion relevant to the exciting and expanding space on the evening will include the the death of credit cards and systems enabling digital currencies. We spoke to founder and CEO Mark O’ Sullivan to find out more about the company’s activities and involvement in the event.

28 February 2017

A balancing act: Shafeeq Abrahams, CFO of the NHBRC

As CFO for the National Homebuilders Registration Council (NHBRC), Shafeeq Abrahams has to juggle a lot of balls, and appease various stakeholders. Complicating matters, he says, is the fact that the entity has a public sector mandate: “The public sector mandate is about spending a budget against stated objectives. I think the psychology around budget allocation and spending is quite different where you’re a self-generating revenue entity and have to manage your sustainability and profits. And therefore, what you need to deliver has to happen in the confines of financial sustainability and efficiency. Being able to speak to these two sets of terminologies is a challenge because some of your stakeholders say, ‘You’ve got a budget, spend it’. But on the other end you have to look at operating profits, costs, operating effectiveness, and sustainability in the long run. In my role, I’ve had to shift thinking around these concepts.”

26 February 2017

Mind the ransomware disguised as spam

Last year, a huge amount of malicious spam was recorded. Of this, some 20% distributed ransomware Trojans – nasty little viruses which infect your computer and essentially hold it hostage until you pay a “ransom” to have everything released. According to Kaspersky, the most popular were mass spam mailings sent out to infect user computers using misleading headlines leveraging off popular global events, such as the Olympics, terrorism and lottery notifications.

24 February 2017

CFO Awards nominees in the spotlight as interviews get underway

The CFO Awards 2017 interview process is well underway, with close to half the nominees already having shared their views on a range of questions pertaining to strategy, compliance, leadership, transformation and governance, with the CFO editorial team and members of the judging panel. Thomson Reuters MD for Africa, Sneha Shah, JSE CFO Aarti Takordeen, new Discovery CFO, Deon Viljoen, and Professor Wiseman Nkuhlu, SA's first black CA, are among those on the judging panel.

23 February 2017

Dealmaking is about people - McDonald's SA CFO Zafar Mahomed

“Successful dealmaking is about people. Don’t rely on spreadsheets – get out there and understand the personal dynamics. I think 80 percent of it is about process flow, stakeholder management and people,” said McDonald’s SA CFO Zafar Mahomed in a CFO masterclass entitled Survival of the dealmakers.The insightful discussion formed part of the first instalment of the CFO Summit series and was hosted by CFO SA MD Graham Fehrsen at the opulent Summer Place in Sandton, Johannesburg, on Tuesday.

22 February 2017

Cybersecurity in the spotlight in first CFO Summit for 2017

“If traditional information security is about building a broad defence against attack, cybersecurity is really an attacker-centric approach. It's the knowledge of your attacker that drives your cyberinitiatives,” said Sean Howell (pictured), MD of Redshift Cyber Security, during this morning’s CFO masterclass on The Art of Breaking In, presented as part of the CFO Summit 2017. Howell, a professional hacker, provided welcome, albeit unsettling, insight and encouraged CFOs to start thinking like attackers in order to best protect themselves and their organisations. All businesses are at risk because all businesses possess information that it vital to their operations and thus vulnerable to exploitation from hackers, he added.

20 February 2017

Organise HR events that are different and engaging: CHRO SA meets Nova Human Capital

Nova Human Capital Solutions is a company that offers turnkey HR solutions to companies of all shapes and sizes. From simply providing payroll services to doing a total overhaul of a business’s HR function, they do it all. Last week, CFO Enterprise CEO Melle Eijckelhoff and Didi Sehume of CHRO South Africa met with director Debbie Victor and MD Scott Barrett from NOVA in the build-up to the executive HR round table to be hosted by Vodacom HR director Matimba Mbungela on 9 March.

17 February 2017

5 terrible accounting jokes

Accounting is a profession that is plagued by horrendous stereotypes and accountants are never seen to be the life of the party. Thankfully, they tend to have a sense of humour about it. We’ve put together a selection of accounting gags to brighten up your Friday and perhaps give you something better to use as an icebreaker when you’ve got to go up and present those numbers. Please let us put the “extroverted accountant looking at your shoes” line and the polite twittering that goes with it out to pasture.

16 February 2017

Deloitte celebrates Reporting Accountants award at DealMakers Gala 2017

Professional services firm Deloitte went home with the Reporting Accountants awards by Deal Flow during the 16th annual DealMakers Gala Awards Banquet on 15 February 2017 at the Sandton Convention Centre. A jovial CFO South Africa MD Graham Fehrsen handed the prize to Deloitte's senior manager Aubrey Sebothoma, together with DealMakers director Marylou Greig. KPMG won the Reporting Accounts award by Deal Value, just like last year.

16 February 2017

Plan to clinch that dream position: WATCH Cassel & Co MD Georgina Barrick at #findaba16

Quality positions are difficult to come by in the current market and there is a lot of competition for those that are available. While on a job hunt, it is important to prepare yourself for success in order to gain an advantage over other candidates. Every recruitment process is different but there are some critical elements that remain unchanged and which you need to be prepared for in order to be successful.

15 February 2017

Saving money AND future-proofing your real estate: JLL partners with CFO SA

Financial and professional services firm JLL, which specialises in commercial real estate services and investment management, is on a drive to get to know CFOs in 2017. To do this they have partnered with CFO South Africa, and will be sponsoring the CFO Summit and the annual CFO Awards. They will also host two intimate dinners for top CFOs to discuss the challenges and opportunities that the sector presents. Company MD Craig Hean (pictured) shares his thoughts on the partnership and what value they intend to bring to the CFO community.

14 February 2017

CHRO SA launch: meeting Millicom HR director Yvette Mujinga Malengela

Valentine's Day 2017 marked the start of CHRO South Africa, a deeply connected organisation for HR directors to boost their network, knowledge and careers. Founding CEO Melle Eijckelhoff flew from the Netherlands to meet up with our energetic CHRO community manager Didi Sehume. They immediately kicked off a whirlwind tour of CHRO visits, ahead of the first intimate roundtable event for top HR directors on 9 March. Their first meeting was with Yvette Mujinga Malengela, HR director at African telecoms company Millicom.

14 February 2017

From Pretoria to San Diego: what will CFO Awards winner Cobus Grove miss most?

Ending what has been one of the most spectacular blitz-careers of South African CFOs in recent memory, Cobus Grove, his wife Marilize, his son Christopher and his daughter Kaitlyn recently boarded an airplane and left for California. The winner of the Compliance & Governance Award at the 2015 CFO Awards will remain CEO of Pretoria-based company Ctrack, but he’ll be fulfilling his role from the San Diego headquarters of Inseego, formerly known as Novatel Wireless.

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