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23 October 2016 With the introduction of the new accounting software, Blackline, organisations can manage the entire accounting and finance lifecycle and gain a global view into tasks and processes, all in one centralised, secure and reliable system. These were the words of Josh May, the Senior Solutions Consultant and Product Manager at Blackline, who gave a presentation on how the software works during Finance Indaba Africa held at Sandton Convention Centre on 13 and 14 October 2016. By Tiisetso Tlelima 23 October 2016 Lewis announced on 21 October that the National Credit Regulator's (NCR) affordability assessment guidelines, along with the currently tough economic times, have led to the retailer’s profit dropping by up to 45% in half-year trading. The company said in a statement: 22 October 2016 Zimbabwe has cleared its 15-year-old financial arrears with the IMF, making itself current on all its financial obligations to the institution. 22 October 2016 Two case studies show how Cognos Disclosure management saves CFOs a significant amount of time when generating reports. 21 October 2016 It is estimated that 330 million adult Africans lack access to basic financial services. In the face of an outstanding opportunity, an ecosystem of FinTech startups providing payments and money transfer solutions have grown to transform a cash-heavy payments industry on the continent. 21 October 2016 UK-based investment group Vasari has finalised its acquisition of the operational assets of KWV for a sum of R1.15 billion. Vasari sees the South African wine and spirits producer as a “strategic asset” that will enable it to capitalise on growth opportunities in the wine and brandy sector. KWV was sold to Vasari by Niveus Holdings, the listed investment holding company majority controlled by HCI. John Copelyn, HCI CEO, writing in the company’s latest annual report, said that the exit from KWV was “very lucrative”, and that “the price achieved effectively doubled the value of Niveus’s investment over five years”. Boyce Lloyd (pictured), an SABMiller executive with more than 20 years of experience in the beverage industry, will become the new KWV CEO from November. Until recently Lloyd was the integration director for the AB InBev-SABMiller merger. Vasari has investments in various areas, such as alcoholic beverages, confectionary, soft drinks, and foods, across various markets, including Europe, Africa and Asia. Among its brands are independent Scotch whisky producer Whyte & Mackay, and Ethiopian brewer, Dashen Brewery. 21 October 2016 Are you looking for a great job in an international fast growing company? You found it. A fantastic chance for an experienced media sales manager. A great challenge for a skilled professional that wants to make a real contribution to Africa and to the company: CFO South Africa PTY Ltd, your future employer. 21 October 2016 What could Shakespeare’s life possibly teach us about finance today? Standard Bank’s Sean Doherty has some ideas… 20 October 2016 Old Mutual experts explained how insurers can help companies to exchange the uncertainty of a long-term liability for the certainty of an insurance premium. 20 October 2016 Lafarge Africa has announced the appointment of a new CFO, Bruno Bayet (pictured), effective 1 October 2016. Prior to becoming CFO of Lafarge Africa Bayet was the Strategy Director; a position he held since April this year. Bayet, a Belgian, was Manager, Corporate Finance, with PwC from 1998 to 2005, and Senior Analyst in the Investments team of Groupe Bruxelles Lambert from 2005 to 2011. Before joining Lafarge, Bayet was an executive committee member of Enterprise Generale Malta Forrest (RDC) from 2011 to 2013, having gained over 15 years of experience in the construction and materials industry. He was appointed Director of Ashakacem Plc in later 2013, combining the role of CFO in September 2014. Bayet holds a Business Engineering degree from Universite Catholique de Louvain-la-Neuve in Belgium, and completed his Master’s in Business Administration at Georgetown University, specialising in Financial Risks Management. 20 October 2016 Team Athena from the Copperbelt University in Zambia were crowned the winners of the first edition of the CharterQuest CFO Case Study Competition at the rock-star conclusion of the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 14 October 2016. 19 October 2016 FNB has been named the ‘Most Innovative Bank’ of 2016. At the African FinTech Awards (#afta16), a heavyweight panel of judges chose the popular bank over fellow finalists Absa and Standard Bank in the ‘Incumbent Bank’ category. FNB also received the most online votes, taking home the ‘Public Award’ in the same category. 19 October 2016 Thomson Reuters has launched its newest Data and Innovation Lab, located in Cape Town. The lab will see Thomson Reuters engage with the region’s vibrant innovation ecosystem and dynamic start-up community. The Labs have two primary objectives: innovation and partnership. Innovation will come through driving creative conversations with customers and partners through open events and rapid prototyping, while partnership involves collaboration and co-creation with startups and other partners to put new technology and business models into practice. Mona Vernon (pictured), vice president of Thomson Reuters Labs, said: 19 October 2016 Most CFOs think that good budgeting means cutting costs instead of looking at ways to stop wasteful spending, said Accenture’s Madeleine Joubert during Finance Indaba Africa, which was held at the Sandton Convention Centre on 13 and 14 October 2016. But zero-based budgeting means focusing on both top and bottom line, she explained. "It’s not about cutting costs, but redirecting the money.” 18 October 2016 CFOs in the public sector have to be as skilled in the art of strategic relationship-building and diplomacy as they are with working with numbers, finance executives agreed in a breakaway session at the Finance Indaba Africa at Sandton Convention Centre in Johannesburg on 14 October 2016. 18 October 2016 Standard Chartered has appointed Mohamed Abdel Bary (pictured) as Regional CFO, Africa & Middle East (AME), with immediate effect. Sunil Kaushal, Regional CEO for Africa & the Middle East, said following the announcement: 18 October 2016 We’ll never again have economic growth like we have known before, says Martijn Aslander. And that’s okay... 17 October 2016 “We weren’t expecting so many people,” explained entrepreneur and Beerhouse founder Randolf Jorberg, as he put out the crate of craft beer at the front of the room, inviting the audience to help themselves. Still, the promise of beer brought the crowd in, and the resulting fascinating case study in crowdfunding kept them. 17 October 2016 MTN has agreed to make a €20-million investment in support of Iran’s first taxi-hailing smartphone application, Snapp. This as the telecoms company tries to repatriate R15.4 billion from the country, following the lifting of US-led economic sanctions, and strengthen its ties with the Middle Eastern nation. According to Shahram Shahkar, Snapp founder and CEO (pictured), the money will be used by the app’s owner, Iran Internet Group, which operates and invests in start-up and e-commerce companies, to expand the company’s service offering to other cities. 17 October 2016 In his presentation titled The Inconvenient Truth About Cybersecurity at CFO South Africa’s Finance Indaba Africa, which took place on 14 October 2016, KPMG Cyber Security Manager Nathan Desfontaines called on CFOs to be more involved in finding solutions to dealing with cyber attacks in their organisations. 16 October 2016 Diversity in the workplace is both constitutionally mandated and fundamentally good for business. This was the message from award-winning Discovery Health CFO Brett Tromp, in a discussion moderated by Talent Africa’s Auguste Coetzer, at the Finance Indaba held at the Sandton Convention Centre on 14 October 2016. 15 October 2016 The “Africa rising” narrative that dominated headlines ten years ago has taken an anecdotal beating, affected by the downturn in commodities, and several of the continent’s biggest economies being plagued with poor growth, both private and public corruption, and political bad news. But, investment wise, does that mean Africa is no longer a strong growth space? Do investors consider this bubble burst? 14 October 2016 Political upheaval, King IV and ethical leadership were all on the agenda as some of KPMG’s leading minds applied themselves to the question of regulatory change and its impact on business at the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 14 October in an entertaining session hosted by the multinational auditor. 14 October 2016 “Students of the future are often students of history,” Futurist Graeme Codrington told attendants of the inaugural Finance Indaba Africa 2016, during his presentation on 14 October 2016. They study moments of change and disruption in history to understand what underlies huge disruption in our present age. Graeme – an international speaker, consultant, and best-selling author who has built a career out of preparing companies for change – believes that the echoes of the past, the ones that were present at the last major social renaissance, are present in the world today, and companies fail to heed them at their peril. 14 October 2016 Mervyn King told the Finance Indaba Africa that business has shifted from thinking about short-term profit to focusing on sustainable capitalism, but that there is much still to be done. 14 October 2016 During CFO South Africa’s Finance Indaba Africa held at the Sandton Convention Centre on 13 and 14 October 2016, Head of the Advisory IT at Grant Thornton, Oupa Mbokodo warned internal auditors about playing a policing role in an organisation and encouraged them to employ a more integrated thinking approach to their audits. 14 October 2016 “One ERP is not about creating a utopia, but using technology to create an illusion of a single interface for things like cash and shared service centre management. Robotics is fantastic – we have a lab in Germany dedicated to playing around with – but most robots today only fix things that are broken.” 14 October 2016 Finance industry giant Professor Mervyn King has motivated for a “rebranding” or repositioning of chief financial officers (CFO) into chief value officers (CVO). Professor King made a strong case for this during a public discussion with Johannesburg Stock Exchange CFO Aarti Takoordeen, at the second day of the Finance Indaba Africa 2016. 14 October 2016 How should smart leaders position their organisations for change? That was the central question in a through-provoking keynote from KPMG chairman Ahmed Jaffer at the firm's cocktail function on 13 October 2016 at the Finance Indaba Africa. The event was one of the highlights of #findaba16, with the who's who of CFOs and corporate South Africa enjoying the entertainment, food & drinks and networking. 14 October 2016 "Let's take the lessons and the inspiration from the Finance Indaba Africa with us and use it in our daily jobs," said SAICA CEO Terence Nombembe at the opening of day 2 of #findaba16. In an impassioned plea, he called on finance professionals to start contributing more to the future of South Africa, listing several practical steps for CA(SA)s and other finance professionals. "All of us need to be courageous enough." 14 October 2016 Well over 3000 finance professionals came to the Sandton Convention Centre on 13 October for the first day of the very first Finance Indaba Africa, an expo and conference that has announced itself as the annual highlight on the calendar of South Africa's finance professionals. With 75 exhibitors, 120 speakers and incredible energy levels, the success of the event was firmly established - attendees and partner organisations alike enjoying massive value from the interactions, learning and sharing of knowledge. 13 October 2016 Easy Equities is the overall winner of the 2016 African FinTech Awards at the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016. 13 October 2016 Two women share their views on what women need to do to achieve success in the finance industry, and how they can uplift other women along the way. 13 October 2016 Keeping track of what happens in the business and measuring everything is what makes McDonald’s flourish as a business, conference attendees heard during Finance Indaba Africa which took place at the Sandton Convention Centre on 13 and 14 October 2016. 13 October 2016 A presentation by South African Auditor-General, Thembekile Makwetu was one of the hottest tickets at the inaugural Finance Indaba Africa – which opened at the Sandton Convention Centre in Johannesburg on 13 October 2016. The Auditor-General’s speech kicked off the 'Finance for Africa' track programme at the Indaba. 13 October 2016 Two CFOs who have developed their careers by working in different locations around the world share their views on whether international experience is essential on your CV. 13 October 2016 Cube Bucks, The Sun Exchange and Bankymoon went head to head in the hotly contested Blockchain & Bitcoin category of the 2016 African FinTech Awards at the Finance Indaba Africa at Sandton Convention Centre in Johannesburg on 13 October 2016. 13 October 2016 We define productivity as achieving what you want to achieve with the least effort, or having the ability to achieve what you want to achieve with the least effort,” Marcel van den Berg says. 13 October 2016 “The culture of an organisation, our mindset and how we do things can constrain the growth of a company,” said Deloitte’s Global Research Director Dr Ajit Kambil during a talk titled Leading with Insight: Are you a strategic CFO? at Finance Indaba Africa 2016 on 13 October 2016 at the Sandton Convention Centre. 13 October 2016 Servicing the millions of unbanked citizens of Africa and bringing them into the mainstream economy through FinTech innovations – the mission of many startups – can thwart poverty and other social ills, as well as enable the continent to compete on a level footing with the rest of the world. This was the core message coming out of the opening discussion of the African FinTech Awards at the 2016 Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016. 13 October 2016 13 October 2016 Can you unlearn what you know and learn what you not yet understand? That is what maverick investor, disruptor and global speaker Vusi Thembekwayo asked finance professionals during the energetic and thought-provoking speech that officially opened Finance Indaba Africa 2016 in the morning of 13 October 2016.. "Are you able to innovate and build a business for the future?" 13 October 2016 The day that finance professionals have been looking forward to for many months has finally arrived - it is time for Finance Indaba Africa! With two days of learning, inspiration and unparalleled networking, the inaugural event has already established itself as the biggest conference and expo for African finance teams in the world. The numbers are impressive: 13 & 14 October 2016, Sandton Convention Centre, 5000 attendees, 120 sessions with speakers and discussions and 75 exhibitors. 12 October 2016 "We understand the world of fintech through our mobile expertise and having launched a financial services product in a regulated environment," says Ahmed Cassim, Chief Commercial Officer of Hello Group, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 12 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Entrepreneurship, risk and return, an awesome programme on 14 October 2016. 12 October 2016 "FinTech is completely revolutionising the speed, the scale and the cost of getting services to the people. This is transformational for Africa – and it is this transformation that drives Cellulant to continue realising this for millions of consumers and thousands of businesses," says Ken Njoroge, Group CEO of Cellulant, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 11 October 2016 "A single platform can become the main source of information for all digital channels, not only enabling banks and other financial institutions to offer their clients an engaging experience, but also solving simple problems related to the integration of data and reducing infrastructure costs," says Jakub Piotrowski, CRO and Head of Customer Engagement at Meniga, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 11 October 2016 To close the Finance Indaba Africa in style, CFOs and FDs are invited to an exclusive CFO South Africa cocktail function, in collaboration with global credit insurance company Euler Hermes. One of Europe's most revered analysts, chief economist Ludovic Subran, will give a insightful talk about the biggest risks that (South) African CFOs are facing and the best ways to deal with it. To warm up for the main event, we asked Ludovic a few questions. 11 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: The Future of FinTech, an exhilarating programme on 13 October 2016. 11 October 2016 Introduction of mandatory audit firm rotation will “dilute the oversight role of audit committees and of shareholder rights”, says Christine Ramon, award-winning CFO of AngloGold Ashanti and chairperson of the CFO Forum, a lobby group of finance executives for large listed companies and state-owned entities. 10 October 2016 The Finance Indaba Africa is the annual one-stop-shop for everything finance professionals need to know to grow their careers and help the country and continent prosper. It is only fitting that some of South Africa's most exciting home-grown artists will be on stage to provide the entertainment during the event Their performances are kindly sponsored by the National Arts Council of South Africa, with Young CFO of the Year Dumisani Dlamini as its driving forces. 10 October 2016 "Zero-Based Budgeting is a new way of budgeting annually to allow business to prioritise and investing in activities that will drive competitive advantage and revenue growth," says Dr Madeleine Joubert, Finance and Enterprise Performance Lead at Accenture. "Companies should consider removing waste and freeing up capital that can then be turned to more lucrative activities. At the Indaba, we’ll provide them with the insights and expertise on how to achieve exactly that." 09 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance leading with data and insight, a two-day programme opening up the world of analytics and technology. 09 October 2016 Which three forex developments will be most significant for SA businesses between now and 2020? And Which import and export trends should CFOs be aware of? Those are some of the questions we are asking Herman Bezuidenhout, CEO at trade and forex company BeztForex, a silver partner at the Finance Indaba Africa 2016. 08 October 2016 "Cryptocurrency and 'click once' authenticated payments will be prominent in the future," says Thomas Pays, CEO of iPay, a simple, real-time EFT payment solution, that allows consumers to make secure, instant payments directly into a merchant’s bank account. 08 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance in Control, a two-day programme for all finance professionals. 07 October 2016 Oracle is a platinum partner at the Finance Indaba Africa on 13 and 14 October 2016. Why should you come listen to what they have to say? Read this excellent piece by Dee Houchen and find out! 07 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Public Finance Leadership, a programme tailor-made for people with an interest in helping the country forward in the public sector. 07 October 2016 “Not only is SAP Business One key to the smooth running of daily operations and the business at large, but I personally have found it invaluable in the execution of my role as finance manager,” says Annemarie Haywood, finance manager at staffing solutions company CallForce. Annemarie will be part of a panel, hosted by 4most, at the Finance Indaba Africa on 14 October 2016 (see details below). We spoke to her ahead of the landmark event. 07 October 2016 “The Association of Accounting Technicians South Africa [AAT (SA)] adds value where CFOs and strategic people need to make decisions. If you get the work right at support staff level there are less errors, the quality of financial statements should be better, you should see shorter month-end periods and cleaner audits,” says Nadine Kater, General Manager of the organisation. We had a chat to Nadine about the organisation and where it fits into the industry, as well as what value it adds to finance professionals. 07 October 2016 "CFOs have to have a deep understanding of these models and be creative around the understanding of the financial implications of the benefits and the risks to their businesses going forward," says Lenore Kerrigan, Country Sales Director for Sub-Saharan Africa at OpenText, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 06 October 2016 Mandatory audit firm rotation (MAFR) is often a "solution looking for a problem", says Fayez Choudhury, CEO of International Federation of Accountants (IFAC), the global organisation for the accountancy profession. "This is all the more critical in light of the costs of regulation to businesses trying to operate in a global environment, and possible unforeseen consequences," he writes in this opinion piece, in which he is critical about the South African Independent Regulatory Board for Auditors (IRBA) and its timeline to introduce MAFR. 06 October 2016 The Finance Indaba Africa is THE place where finance professionals can get to grips with the latest and greatest technologies around. Besides well-established brands like SAP, Oracle and IBM, there is also space for a number of exciting, highly specialised companies. One of those is silver partner Larc AI. We spoke to Jannie Strydom, CEO of Larc AI about his message for finance teams. 06 October 2016 There was an electric discussion even before guests had sat down at last night’s CFO South Africa dinner. That’s to be expected when you bring exceptional finance leaders together from across multiple industries. When you add a futurist and fantastic know-how of executives from partner Old Mutual Corporate, the learning is palpable. 06 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Skills and knowhow for finance, which will take place on 13 October 2016 and features one the the world's most inspiring accountants! 05 October 2016 You already know that your business can help move transformation forward through job creation and human capacity development. But do you realise that transformation can also help your business move forward? We talk to Bongani Coka, CEO of the South African Institute of Professional Accountants (SAIPA), who will be presenting the amazing results of Project Achiever at the Finance Indaba Africa on 14 October 2016 at 14h30. 05 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Smart Finance, Smart Business a two-day programme about the power of technology. 05 October 2016 The mandatory audit firm rotation (MAFR) that will be introduced in South Africa next year might include incentives for Big 4 firms to partner with smaller, black-owned competitors. The Independent Regulatory Board for Auditors (IRBA) is considering to allow auditors to stay with the same client for a longer period, provided they enter into joint audits when their mandatory tenure comes to an end, says IRBACEO Bernard Agulhas. In this exclusive interview with CFO South Africa he also notes his disappointment about the negative response from CFOs to mandatory firm rotation. 05 October 2016 The CFO Case Study Competition’s Round 2: Public Votes has ended with Team Snipers from Ghana taking the lead with over 900 votes. They are now the official winners of this round and take with them 2 points to their credit as they proceed into Round 3: Semi-finals to be held at the JSE Limited on 13 October 2016. Over 2,500 votes were casted in total for the teams in this round. 04 October 2016 Following continued expansion into Africa and the introduction of new business models built around digital offerings, SilverBridge has reported strong financial results for the year ending 30 June 2016. Its net profit increased by 21 percent to R10.1 million and its cash balance improved to R27 million, up from the R18.2 million of the comparative period last year. 04 October 2016 "The Finance Indaba is an ideal platform for Linxus to engage with key decision makers by demonstrating the value we can add to any business through our software products," says Russell Glover, managing director at Linxus, a a gold partner at the Finance Indaba next week. We spoke to him exclusively. Why is Linxus present at the Indaba? "Linxus is a Software Solutions business that specialises in the building and implementing solutions that drive operational efficiencies, reduce cost and mitigate risk. Our focus is on delivering appropriate and responsible solutions that are developed and implemented rapidly thereby addressing current business needs in a time frame that enables businesses to grow and or reduce cost, ultimately driving profitability in your business." 04 October 2016 Connect Africa Payments is a B2B technology solution, connecting various payment networks. Members of the hub are able to facilitate cross-network transfers. The Kenya-based FinTech company is a silver partner at the Finance Indaba Africa. We asked Caroline Cherotich to tell us a bit more. 04 October 2016 "Key to the CFO’s success is having a reliable “wingman” in the form of the Corporate Treasurer, who provides support in not only managing financial variable risks, ensuring access to and supplying liquidity to business operations, but also in identifying, assessing and preparing for potential threats to business liquidity which may not be patently obvious and are difficult to identify when part of the myriad of issues the CFO is contending with," says Nigel Grey, chairman of the Association of Corporate Treasurers of Southern Africa (ACTSA), a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 03 October 2016 “We’ve always defined our service offering as audit and state of the nation type reports, but over the past five years, we’ve engaged with CFOs and accounting officers very proactively, especially around the basics of internal control that we believe can move them in the right direction," says Jan van Schalkwyk, corporate executive at the Auditor-General of SA, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 03 October 2016 03 October 2016 Given the connectedness of organisations today, cyber security has become a fundamental part of business. Nathan Desfontaines, KPMG’s Cyber Security Manager in South Africa, believes that this environment is challenging CFOs to look differently at operational requirements. He wrote this guest article in anticipation of the Finance Indaba Africa. 03 October 2016 Dutch productivity guru Marcel van den Berg, Think Productive’s director for Western Europe, who will be speaking at the upcoming Finance Indaba Africa 2016, sat down to talk to us about productivity – where we’re going wrong, how we can improve, and how simple changes can have big consequences. 03 October 2016 "Accounting professionals specifically, and finance professionals more generally, are faced with ever-evolving challenges arising from the expectation to remain abreast of standards and global best practices. Our role is to provide training opportunities that are flexible, affordable, relevant and of high quality," says Raymond Chamboko, director at W.Consulting, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 02 October 2016 Award-winning finance executive Greg Davis has been named Chief Financial Officer of Ecobank Transnational Incorporated (ETI). From 18 October 2016 he will be responsible for overseeing and ensuring strategic management of all financial and fiscal aspects of the bank’s finance operations from its headquarters in the West-African country Togo. 02 October 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: SME Growth and Profitability, a two-day programme for finance professionals working for smaller firms and medium-sized businesses. 02 October 2016 "Sureswipe champions entrepreneurial growth by ensuring that we can provide accessible and affordable payment solutions that add value and sustainability to their business," says Paul Kent, MD of Sureswipe, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 01 October 2016 The Independent Regulatory Board for Auditors (IRBA) has welcomed the news that South Africa has been ranked yet again as the world’s number one for auditing and reporting standards, making it the seventh consecutive year that the country holds this position. As the audit regulator, the IRBA is the statutory body falling within the National Treasury mandated with the protection of the investing public through effective regulation of auditors to ensure high quality independent audits in which investors can place their trust. 01 October 2016 With well 30,000 people voting and an elite panel of 40 judges helping to determine the eventual winners, the African FinTech Awards 2016 (#AFTA16) are shaping up to be a “mind-blowing success”, to quote the man behind the awards, Alex van Groningen. 30 September 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: High Performance Finance, a programme on 14 October, moderated by Chris Ellis of Vickers & Peters. 30 September 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Careers on the couch, a two-day programme about building an exciting career in finance. 30 September 2016 More sophisticated and data-driven processes within business operations come with increased online activity and agility on the part of employees, though consideration must be given to the fact that with this increased online activity is increased potential risk to the business –particularly the growing occurrence of technology-enabled fraud, cautions KPMG’s Shirley Ivason-Wagener, Partner and Country Leader, Fraud Risk Management and Ethics Advisory. There’s no denying that we live in a fast-paced digital era that is underpinned by this consumerism sense of instant gratification. As a result, companies are continually transforming their technology-driven business processes to maximise on efficiencies, as well as integrating different processes and systems and even enabling inter-company and global connectivity – aimed at remaining competitive. Today, technology is a significant enabler for fraudsters, where tech-savvy swindlers are using it in a variety of ways to perpetrate frauds. Cyber fraud continues to be identified as a growing threat to business. 29 September 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance for Africa, a two-day programme moderated by Didi Sehume, Treasury and Securities Services associate at JP Morgan. 29 September 2016 Are you looking for a great job in a fast growing international company? You have found it. This is an awesome chance for young and talented computer savvy social media and marketing fundi. A great challenge for an enthusiastic professional that wants to make a real contribution to the company - CFO South Africa - and to the country. 29 September 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: the Future of Finance, a two-day programme moderated by corporate trainer Dave Stevens. 29 September 2016 "Kronos WM applications are crucial in enabling greater visibility into labour activities for the purposes of effectively managing and maximizing worker productivity, controlling labour costs, tracking operational tasks and minimizing compliance risks," says Yolanda Krajnc, Sales Manager of Bytes Systems Integration, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 28 September 2016 The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: the spectacular opening sessions and award ceremonies. 28 September 2016 Earlier this month, Cricket South Africa (CSA) made the landmark decision to appoint black-owned firm Nkonki as auditor for the organisation and all its members. For many years, CSA was audited by Deloitte and the clubs each had their own auditors. The man tasked with overseeing the job is Nkonki partner Zakhele Nkosi. We asked him what it is like to be the lead engagement partner for such a historic institution. 28 September 2016 “We have been blown away by the number of partners and visitors the Finance Indaba Africa is attracting in its very first year,” says Alex van Groningen, the Dutch entrepreneur behind the successful knowledge sharing event on 13 and 14 October 2016 at the Sandton Convention Centre. 27 September 2016 Charl Keyter was first introduced to mining as a child, when he used to visit the Gold Fields operations with his dad’s cousin. He was fascinated. “The atmosphere on the mines in those days was almost holiday-like,” he recalls. “Maybe because we only ever spent a day or a week there, every so often, but the facilities and the people living in the community, the activities they did with the kids, there was always this great atmosphere.” 27 September 2016 "We have deep insights into the industry, including regulatory and governance issues, which makes the recruitment process much smoother and more professional, both from a candidate and a client perspective," says Georgina Barrick, MD of Cassel & Co, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 26 September 2016 26 September 2016 The BEE journey must not be seen as just another a tick-box exercise, says Sugan Palanee, Head of BEE Services at EY. Rather, it should be viewed as an evolutionary journey which, while it may come with several challenges, will bring with it as many opportunities that will benefit the entire business ecosystem. 25 September 2016 Struggling South African clothes retailer Edcon has been taken over by banks and bondholders, including Standard Bank, Barclays Africa Group and FirstRand. Furthermore, creditors in Edcon have agreed to substitute R21 billion in debt for equity control of the retailer. The retailer has been struggling with an over-leveraged capital structure for years. Having been taken private in a R25-billion buyout by Bain almost a decade ago, Edcon has been unable to to grow at a fast enough rate to pay down debt. 24 September 2016 Sasfin has successfully circumvented the effects of the currently tough economic environment to grow shareholder value by 29%. Operating profit improved 31% (from R232 million in 2015 to R304 million), while profit was up 23.7%, to R238.7m. In addition, total income growth was up 25.1%. Tyrone Soondarjee (pictured), Sasfin group financial director, speaking at the recent financial results presentation, said the group reported growth across all its divisions, bar Treasury and Transactional banking, which collectively declined in profitability from R10.39 million to R6.559 million. Soondarjee noted, however, that the Treasury division did show strong performance, with a stable deposit base of R3.32 billion. According to the FD, group costs increased 19.8% to R828.3 million, largely as a result of increased investment in risk, compliance and IT, along with the inclusion of FinTech in its cost base. The cost-to-income ratio improved from 71.07% in the previous year to 68.89%, thanks to its cost containment strategy, which Soondarjee said has been “key to manage and showed notable improvement”. 23 September 2016 Shanduka Group, founded Cyril Ramaphosa (pictured) in 2001, has sold the local operations of McDonald’s Corp. to a Middle Eastern company, the Emirates-based MSA Holdings, for an undisclosed amount. In March 2011, Ramaphosa secured a 20-year agreement to run 145 McDonald’s restaurants in South Africa. Under the agreement, he owned all McDonald's assets in South Africa, including property. His sale of the franchise is in line with a previous statement he made saying that he would undertake a review of his business interests, in light of his position as deputy president of SA. The Competition Commission has approved the transaction for MSA to acquire the fast-food restaurants, as this would not present undue competition to local companies. The value of the deal has not yet been disclosed. 23 September 2016 What are the five hottest tech trends that finance teams should be aware of? Frank Rizzo is revealing all during a thought-provoking presentation at the Finance Indaba Africa (13 October 13.30 - 14.15 in Ballroom 4 of the Sandton Convention Centre). Here's an exclusive taster for readers of CFO.co.za. 23 September 2016 "Over the past 30 years, the consistency of our expertise in business systems has earned us an award-winning reputation," says Jurgens Snyman, CEO of Lorge, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 22 September 2016 S&P Global Ratings has downgraded Nigeria, Africa’s most populous nation, further into junk territory, taking the country’s rating one level to B, five levels below investment grade (in line with Kyrgyzstan and Angola), and changing the outlook from negative to stable. S&P said in a statement: 22 September 2016 Balance sheet agility in a time where the speed of change is exponential and uncertain seems something of an oxymoron. At this gathering of exceptional CFOs, with hosts Old Mutual Corporate, the discussion was broad and robust. 22 September 2016 “In the current volatility, uncertainty and complexity, internal audit brings objective assurance to the finance professional who is constantly under pressure.” says Dr Claudelle von Eck, CEO of the Institute of Internal Auditors South Africa (IIA SA), a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 21 September 2016 Rotterdam-based Vitol SA and Johannesburg-based Burgh Group Holdings have agreed to buy a stake in Africa’s largest coal terminal, Optimum Coal Terminal (OCT), from a mining company owned in part by the Gupta family. According to reports, Vitol and Burgh will acquire the terminal, which has a 7.6% stake in Richards Bay Coal Terminal, SA’s leading coal terminal with an annual capacity of 91 million tonnes, from Tegeta Exploration and Resources. Quinton van der Burgh (pictured), CEO of Burgh Group, said: 21 September 2016 "Until and unless transformation becomes part of the fabric of corporate South Africa we will, I believe, never reach our potential as a country,” says Peter Walsh, CFO of Servest Group, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 20 September 2016 CFO Fikile Mhlontlo has left state-owned aerospace and defense company Denel at the end of August 2016, close to a year after he was placed on special leave. The 47-year-old CA(SA) reached an amicable resolution with the company and was paid out an undisclosed amount. It is a “seven figure amount”, according to sources with knowledge of the settlement. 20 September 2016 Dineo Molefe took on the role of chief financial officer of T-Systems at the beginning of May. She oversees both the Johannesburg and Cape Town teams, with 47 people and six direct reports looking to her for guidance. She strongly believes the secret to a solid and successful team is having exceptional and talented people. In her words, a varied skills base is also very important: “You have to have a diversity of skills and backgrounds. When you have people who all think the same that doesn’t help the team. Diversity of mindset is also important. And you need people who are self-starters.” CFO South Africa caught up with Dineo to find out how the first few months have been. How are you enjoying your new role? Have you encountered any challenges since you took office? What changes have you made, if any? “It was a bit of a hit and run to start! Within finance we have Controlling, Corporate Finance, Commercial, Procurement, and Legal. The role provides a good balance between being strategically focused and being involved in operations. Our finance team is embarking on a journey to transform itself and to be more of a business partner, so that we play our role in being an enabler to business and not a stumbling block.” 20 September 2016 "At SAP, we are using breakthrough new technologies to provide finance organisations with the platform and tools to allow them to completely reinvent how they work in the digital era," says Neil Herbert, director of business analytics at SAP, a platinum partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 19 September 2016 19 September 2016 The BRICS New Development Bank, a multilateral development bank established by the BRICS states – Brazil, Russia, India, China and South Africa, has said that it is open to funding South Africa’s state-owned enterprises (SOEs). This after several privately owned institutions announced recently that they would stop lending money to state entities. 19 September 2016 The introduction of mandatory audit firm rotation has worked out advantageously for European companies, says René Hooft Graafland, who recently stepped down as global CFO at the Dutch brewing giant Heineken. He says that benefits include lower audit fees, a more efficient audit plan and new insights, as the new audit team approaches the company with fresh eyes. “But I do believe the rotation period should be at least twelve years.” 19 September 2016 "We will be talking about the mandatory audit firm rotation and our views on the positive aspects and the focus on auditor independence, how companies can gear up when it does come into play and how we play a part in this as Nkonki,” says Mitesh Patel, Managing Partner of Nkonki, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 18 September 2016 MTN Group, together with minority shareholders in its Nigerian business, is looking to raise $1 billion in an initial public offering (IPO). 17 September 2016 KPMG has released its latest Africa Banking Industry Customer Satisfaction Survey, which has revealed that customers are still unsatisfied about financial stability, and are seeking more from their banks than what they’re currently getting, especially as far as service, innovation and convenience are concerned. Pierre Fourie (pictured), KPMG Partner in Financial Services, says it is imperative to appreciate the individual customer. He said: 17 September 2016 "We have exposure to the regulatory environments in 120 countries and can share these global experiences and how they impact local operations," says Brian Eaton, CEO of RSM South Africa, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. 16 September 2016 In Kenya, the majority of wireless payments are completed through the country’s largest telecoms company, Safaricom, on the M-Pesa platform. Enter a new market competitor because Visa has introduced a mobile-phone application to rival this: the mVisa app. The app is quite simple to use: mVisa users can make payments by scanning a unique merchant Quick Response code, or QR code, using their smart phones. 16 September 2016 Conversation flowed and sumptuous food was enjoyed during a inspirational get-together of the panel of judges for the 2017 CFO Awards. One of the highlights of the evening was the judging panel welcoming Prof Wiseman Nkuhlu, Chancellor of the University of Pretoria, in their midst. Wiseman is South Africa's first black Chartered Accountant and an incredibly experienced boardroom expert. CFO SA Graham Fehrsen thanked him for adding even more gravitas and quality to the - already impressive - judging panel. 16 September 2016 "CFOs tend to think of the Deloitte business as providing audit, assurance and tax services, but we also have a strong human capital consulting business and a risk advisory business with a strong capacity around cyber, general risk management and forensics," says Kevin Black, Executive Partner for Clients & Industries at Deloitte South Africa, a platinum partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.Welcome to the new accounting - Blackline at #findaba16
Retailer Lewis anticipates 45% profit drop
Zimbabwe settles its IMF debt
Freeing up time to focus on reporting - IBM explains cognitive analytics at #findaba16
2016 African FinTech Awards: Powering up payments in Africa - #afta16 #findaba16
Global investment firm buys KWV for R1.15 billion
CFO South Africa is hiring an experienced media sales manager
Three lessons from Shakespeare - Standard Bank IB CFO Sean Doherty at #findaba16
How insurance companies can support the capitals of integrated reporting - Old Mutual at #findaba16
Bruno Bayet new CFO for Lafarge Africa
Zambian team reigns supreme in CFO Case Study Competition - #findaba16
FNB named 'Most Innovative Bank' at the African FinTech Awards 2016 - #afta16 #findaba16
Newest Thomson Reuters Data and Innovation Lab Launches in CT
Zero-based budgeting: Accenture's Madeleine Joubert explains it all - #findaba16
Boardroom skills as important as the numbers, say public sector CFOs - #findaba16
Mohamed Abdel Bary appointed new Regional CFO for Standard Chartered
Mavericks, freaks and geeks: Martijn Aslander about attitudes for a changing world - #findaba16
This round is on me: crowdfunding and Beerhouse - #findaba16
MTN invests millions in Iran's taxi-hailing app, 'Snapp'
CFOs need to be more hands-on in curbing cyber attacks - KPMG at #findaba16
Diversity makes business sense: Gusti Coetzer chats to Brett Tromp - #findaba16
Riding the tides of African volatility: Standard Bank discusses the continent - #findaba16
Regulatory change: Strategic friend or compliance foe? KPMG rocks #findaba16
Let's get personal: Graeme Codrington on the renaissance of business in a digital age - #findaba16
Integrated reporting underpins sustainable capitalism - Mervyn King wows #findaba16
Grant Thornton's Oupa Mbokodo: Internal auditors must stop policing organisations
One ERP to rule them all - SAP making waves at #findaba16
From finance to value: Mervyn King rethinking the role of the CFO - #findaba16
Cocktail function: KPMG chairman Ahmed Jaffer talks change and business - #findaba16
Take lessons and inspiration #findaba16 back to work: SAICA CEO Terence Nombembe
Finance Indaba Africa 2016 - Day 1 Roundup - #findaba16
Easy Equities wins 2016 African FinTech Awards - #afta16 #findaba16
Careers on the couch: women need to put themselves forward - #findaba16
How McDonald's stays ahead - #findaba16 chat with CFO Zafar Mahomed
Oversight and accountability: Auditor-General captivates Finance Indaba - #findaba16
Careers on the couch: international experience expands your career - #findaba16
2016 African FinTech Awards: insane in the blockchain - #afta16 #findaba16
RSVP for the 2 day course `Work smarter not harder` to make your life and business a lot happier
Deloitte's Ajit Kambil: Changing culture is key to being a successful CFO - #findaba16
2016 African FinTech Awards: Towards a financially inclusive continent - #afta16 #findaba16
Careers on the couch: government CFOs make a difference - #findaba16
Vusi Thembekwayo opens Finance Indaba with thought-provoking innovation talk - #findaba16
It's time! Finance professionals flock to Finance Indaba Africa - #findaba16
Finance Indaba 2016: Champions of financial inclusion
Finance Indaba programme: Entrepreneurship, risk and return - #findaba16
Finance Indaba 2016: Cellulant is all about transforming Africa
Finance Indaba 2016: Meniga brings banks and clients closer together
CFO cocktail event closes Finance Indaba - exclusive insights from Euler Hermes
Finance Indaba programme: The Future of FinTech - #findaba16
CFOs reject mandatory audit rotation: CFO Forum chair Christine Ramon
Entertainment galore at Finance Indaba Africa, thanks to National Arts Council
Accenture at the Finance Indaba: crucial insights into Zero-Based budgeting
Finance Indaba programme: Leading with data and insight - #findaba16
Finance Indaba: BeztForex makes you more competitive
Finance Indaba: i-Pay leading the way in instant easy payments
Finance Indaba programme: Finance in Control - #findaba16
Finance Indaba Afica: Oracle's Dee Houchen reflects on agile finance
Finance Indaba programme: Public Finance Leadership - #findaba16
SAP Business One invaluable, says CallForce's Annemarie Haywood
AAT (SA): The professional home for accounting technicians
Finance Indaba 2016: The leader in enterprise information management
IFAC CEO Fayez Choudhury criticises mandatory audit firm rotation
Finance Indaba: chat to Larc AI about Robotic Process Automation
Navigate tomorrow's unknown: CFOs dine with a futurist
Finance Indaba programme: Skills and knowhow for finance - #findaba16
How transformation can help your business: a chat with SAIPA CEO Bongani Coka
Finance Indaba programme: Smart Finance, Smart Business - #findaba16
Longer tenure mulled for joint-audits: IRBA CEO Bernard Agulhas
CFO Case Study Competition: Team Snipers from Ghana takes lead
African growth boosts SilverBridge annual results
5 questions for Russell Glover about Finance Indaba partner Linxus
Finance Indaba: meet silver partner Connect Africa Payments
Finance Indaba 2016: ACTSA champions treasury management
Finance Indaba 2016: Clean up your audits with the Auditor-General of SA
Finance flash: the TOP-10 articles of week 39
Cyber threats and the CFO: Finance Indaba speaker Nathan Desfontaines (KPMG)
How to be more productive? Finance Indaba speaker Marcel van den Berg reveals all
Finance Indaba 2016: W.Consulting is your CPD partner
Award-winning CFO Greg Davis moves to Ecobank
Finance Indaba programme: SME Growth and Profitability - #findaba16
Finance Indaba 2016: Scale up your business with Sureswipe
SA retains top position for auditing and reporting standards for seventh year
Finance Indaba: programme African FinTech Awards 2016 - #findaba16 #afta16
Finance Indaba programme: High Performance Finance - #findaba16
Finance Indaba programme: Careers on the couch - #findaba16
KPMG's Shirley Ivason-Wagener cautions against technology-enabled fraud
Finance Indaba programme: Finance for Africa - #findaba16
We are hiring! Are you a young, computer savvy social media and marketing fundi?
Finance Indaba programme: the Future of Finance - #findaba16
Finance Indaba 2016: Bytes gets you ahead of the game
Finance Indaba: spectacular openings and awards ceremonies - #findaba16
Meet cricket's new auditor: Nkonki partner Zakhele Nkosi
Feeding a passion for growth: a chat to Finance Indaba founder Alex van Groningen
Sibanye Gold CFO Charl Keyter talks risks and results
Finance Indaba 2016: Cassel & Co is your financial recruitment specialist
Finance flash: the TOP-10 articles of week 38
Complying with the new BEE codes - EY's Sugan Palanee on how to get started
Edcon loses the battle; gets taken over
Sasfin profits rise
Ramaphosa sells McDonald's SA franchises to Middle Eastern company
Five top trends in finance and technology from KPMG's Frank Rizzo
Finance Indaba 2016: Harness Lorge's business system expertise
S&P downgrades Nigeria further into junk status
Re-imagining the future at CFO dinner with Old Mutual Corporate
Finance Indaba 2016: Increase your understanding of internal audit with IIA SA
Vitol, Burgh to buy stake in SA's largest coal terminal
Finance Indaba 2016: Improve your service delivery with Servest
CFO Fikile Mhlontlo leaves Denel
Talent and diversity make finance strong: Dineo Molefe, CFO T-Systems
Finance Indaba 2016: SAP is out to change the world
Finance flash: the TOP-10 articles of week 37
Brics willing to finance South African SOEs
European firms benefit from audit rotation, says former Heineken CFO
Finance Indaba 2016: Nkonki isn't your average external auditor
MTN seeks to raise billions through IPO
KPMG Africa Banking survey shows customers want more from their banks
Finance Indaba 2016: RSM covers all aspects of business
Visa introduces M-Pesa rival
Grandeur and great conversations during CFO Awards judges dinner
Finance Indaba 2016: Deloitte is your full-suite partner
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