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Ansys appoints new CFO

Elvin de Kock has been appointed CFO of Ansys, replacing Burt Lambrecht

New board for Eskom

Malegapuru Makgoba and Tshepo Mongalo will join the board of struggling, state-owned Eskom

Bitcoin debuts on major exchange

Bitcoin passed $18,000 when it began trading on the Cboe on 10 December, causing excitement in some, angst in others

Altron CFO leaves to join Net1

Alex Smith, Altron CFO, will be leaving his role end February 2018, to instead fill the CFO role at Net1 UEPS Technologies

Bahrain launches largest regional FinTech hub

The new hub aims to further the development and acceleration of firms as well as the interaction between investors, entrepreneurs, government bodies and financial institutions

Airlink and Safair to merge

The independent companies have applied to the Competition Commission for approval to unite under the umbrella of the Airlink group of companies

Bidvest Bank to buy FinGlobal

Bidvest Group's banking unit has agreed to buy Hermanus-based FinGlobal for an as-yet-undisclosed sum.

Vivek Venkatkumar new BDS FD

Bytes Document Solutions (BDS) has appointed Vivek Venkatkumar CA(SA) as its new financial director.

Singapore FinTech Festival draws global interest

The second Singapore FinTech Festival began this week, featuring over 25 000 participants from over 100 countries and more than 160 leaders from central banks and regulatory agencies, financial institutions, venture capital firms and fintech companies taking to the podium.

Finance flash: the TOP-10 articles of week 45, 2017

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.

Nigerian FinTech Amplify launches social media banking solution

Nigerian online payments provider Amplify has partnered with banks in the West African nation to let clients conduct transactions via WhatsApp, Facebook Messenger and other social messaging platforms through its innovative mTransfers solution. It will be launched before the end of 2017. Amplify helps businesses accept recurring payments online within minutes from customers in over 100 countries. It plans to bring banks closer to a new generation of social media-savvy clients and provide consumers with a more convenient way of banking. “Social and messaging apps are six of the 10 most popular mobile applications across platforms in Africa. We believe that vibrant and digitally savvy consumers want financial services to meet them where they are, in the channels and platforms they use,” said CEO Segun Adeyemi. “We have built mTransfers to empower banks and other financial institutions to blend their payment process into the everyday lives of their customers and provide an engaging user experience for them,” said Maxwell Obi, the startup’s chief technology officer.

CFOs must rethink their entire way of working, says Ray de Villiers of TomorrowToday Global

Any business that doesn’t make a shift towards digital is ultimately staring down the barrel of redundancy, says world-of-work guru Raymond de Villiers of TomorrowToday Global. CFOs are key enablers of the decisions that need to be made to make this change, Raymond said, before unpacking eight future-proof elements of successful business models.

Afrimat lists on A2X

Afrimat Limited this week listed on A2X Markets (A2X), South Africa’s newest stock exchange, which began trading on 6 October 2017. Afrimat joins African Rainbow Capital Investments, Peregrine Holdings, and Coronation Fund Managers, all of which are already listed on the exchange.

Batandwa Mdyesha new BAIC SA CFO

Chinese vehicle manufacturer, Beijing Automotive Group South Africa (BAIC SA) has appointed Batandwa Mdyesha (pictured) as CFO, effective immediately.

CA Sales Holdings Limited lists on 4AX

4 Africa Exchange Proprietary Limited (4AX), one of only two exchanges in South Africa with a full licence to trade across asset classes, has announced its first listing in the fast-moving consumer goods (FMCG) industry, CA Sales Holdings Limited.

WATCH: ThisIsMe at Finance Indaba 2017

Fica specialist ThisIsMe stormed to victory at the first time of asking in the Innovative Banking category at the African FinTech Awards 2017, hosted at the Finance Indaba Africa at the Sandton Convention Centre in October. The FinTech firm, which has experienced exponential growth over the past year and has already surpassed the notable milestone of one million verifications, also claimed the overall title along with reigning champion Easy Equities.

SA FinTech Jumo lands $24m fund injection

South African FinTech Jumo has secured $24 million in funding into Africa and Asia. London-based Gemcorp Capital and Finnish development finance company Finnfund were the loan providers.

Cabinet approves Minimum Wage Bill

Cabinet has approved the National Minimum Wage Bill, and draft legislation will now be referred to Parliament for further deliberation. Following this, President Zuma will be required to officially sign it into law.

 

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