Latest Articles

Use big data to grow your business, says Uber's Dave Kitley

Speaking at the recent Oracle Cloud Day, held at The Forum in Bryanston, Dave Kitley, Driver Operations and Logistics Manager Uber Johannesburg and Pretoria, explained how the Uber concept began purely in response to a need. The company's founders Travis Kalanick and Garrett Camp, were standing on a Paris street one chilly evening, trying to hail a cab. After several unsuccessful minutes they thought there must be a better way to do this. In each of their pockets – as in the pockets of many people – was a smartphone and a credit card. Surely, they pondered, something could be created using just these two things? With this in mind, the pair returned home to San Francisco to develop their app concept, and thus was created Uber.

AMG acquires equity stake in Abax Investments

Global asset management company, Affiliated Managers Group (AMG), reached an agreement during November to acquire an equity interest in Cape Town-based Abax Investments.

Recruit the best CAs at the Finance Indaba Africa

Thousands of CAs and finance professionals are ready to move up the ladder. Join us at the Finance Indaba Africa and recruit the best.

Pat Semenya: taking ACCA to next level in South Africa

“I want to double our number of members and students and instil a real passion for ACCA,” says Pat Semenya, who is heading up ACCA South Africa since August 2015. After years at Nestlé, Pat felt it was time for a job that could really make a difference.“Economic transformation is not completed in this country and I want to contribute positively to that.”

Nene fired from post as SA's finance minister

Many were shocked at last night's announcement of South African Finance Minister Nhlanhla Nene's (pictured) sacking by President Jacob Zuma. In a seemingly unanticipated move, Zuma has appointed David van Rooyen into this post instead, saying simply that Nene will be deployed elsewhere.

Awesome accountants - find them at the Finance Indaba Africa

South Africa has an outstanding pool of professional accountants. Whether you're a small start up or a successful mid size business, you will need these professionals to help grow and guide your business. The best accountants formulate ideas to help you reach your true goals becoming genuine business partners. Finding the right accountant is easier than you think and you are invited to meet the very best at Finance Indaba Africa.

Newsletter: 10 biggest worries of our CFOs | From Big Data to Big Profits | Why climate talks matter for CFOs

CFO South Africa Newsletter | Thursday 10 December Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Why climate talks matter for CFOs - KPMG's Marijke Vermaak on COP21 The ongoing climate conference COP21 in Paris has many people pondering about the future. According to some these annual Conference of the Parties (COP) on climate change are not more than talk shops, but others predict that decisions that will be taken in France next week will have massive ramifications for society and life on the planet. In this article, Marijke Vermaak, Climate Change & Sustainability Services Manager at our principal sponsor KPMG South Africa, sheds her light on the climate... From Big Data to Big Profits - exhibit at the Finance Indaba Africa Put your headlamps on and start mining big data! Success and profits of businesses are often the results of smart use of data and information. Lately, the opportunities to use the data that exists within your organisation has grown exponentially and executives and accountants are increasingly starting to realise that they are missing out if they are not mining big data. Kenya in need of great CFOs, says Stavros Constantinou (Multiple Gr... “Great CFOs know exactly how to build controls, push transformation and convince stakeholders to invest in technology and that is what Kenya needs,” says Stavros Constantinou, Group CFO at the ever expanding privately-owned business Multiple Group. The executive from the Mediterranean island of Cyprus says the CFO Kenya community comes to Nairobi at exactly the right time. “We are here to help each other, because one plus one can equal three. This is the way forward.” Read more exclusive articles on CFO.co.za - Naspers sells shares worth $2.6 billion to fund further investments - 10 biggest worries of our CFOs - exclusive results from African Bus... - MTN fine reduction figure a typo - SA's credit rating slashed - Expert Insight: Business regulations & registration process in ... - Sasol Inzalo shares now trading on the JSE - SA's former finance minister Trevor Manuel joins Old Mutual board RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Johannesburg We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? 16.30 Round Table discussion - Get Smart in 2016 This exclusive get-together will offer you the unique opportunity to share your vision and ideas with 10 CFOs from South Africa’s top companies. Join us as we discuss how CFOs can play a more active role encouraging radical new thinking while setting the tone in their own environments? 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Select your bank at Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. What is your bank doing and what else is there in the market? Which banks are leading the way? Is there a better option for your business? What should you know when considering financing options? Which banks will partner with you moving into Africa? Who will back your innovation and growth? At Finance Indaba Africa you will discover the latest insights, discuss trends and meet some of Africa's leading bankers. Customers of South African banks have high levels of complaints, with many people complaining about bad service. Opening a bank account is South Africa is time consuming. South African banks are amongst the most expensive in the world charging monthly fees, internet banking fees and commission on payments. But they are there: finance providers that go the extra mile. Select your bank at Finance Indaba Africa. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Sponsors Announcing the CFO Awards 2016 panel of judges CFO South Africa is currently in the process of selecting the members of the panel of judges who will choose the winners from a shortlist of nominated CFOs. With the selection of the panel of judges the importance of the CFO Awards for the business community at large is reflected. More judges will be announced on CFOAwards.co.za. The first panel members are; - Simon Ridley Group CFO Standard Bank & winner CFO of the Year 2014 - Carel Smit, Executive Committee member KPMG - Deon Viljoen, Group CFO Alexander Forbes & Winner CFO of the Year 2015 - Victor Sekese CEO SizweNtsalubaGobodo - David Fine Managing Director of McKinsey - Delphine Maïdou,CEO Allianz Global Corporate & Specialty Africa - Jonathan Lang, Practice Partner and Head of Africa Bowman Gilfillan - Christo Els, Partner Webber Wentzel - Ben Marx Vice-Chairperson Accountancy Department UJ - Claudelle von Eck, CEO The Institute of Internal Auditors SA - Brett Tromp, CFO at Discovery Health & winner Young CFO of the Year 2015 Join the CFO Awards 2016 Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Naspers sells shares worth $2.6 billion to fund further investments

Africa’s largest company, Cape Town-based Naspers Ltd, which has operations in more than 130 countries and also owns DSTV, has raised an amount of $2.5 billion from institutional investors in a bid to help fund its investments into e-commerce companies.

Better bank - select your bank at Finance Indaba Africa.

Customers of South African banks have high levels of complaints, with many people complaining about bad service. Opening a bank account is South Africa is time consuming. South African banks are amongst the most expensive in the world charging monthly fees, internet banking fees and commission on payments. But they are there: finance providers that go the extra mile. Select your bank at Finance Indaba Africa.

10 biggest worries of our CFOs - exclusive results from African Business Outlook

Economic uncertainty, a weakening rand and government policies are the most pressing concerns for CFOs in South Africa. Although a decent number of finance leaders are optimistic about their own companies, they are generally pessimistic about the overall economy. Results from the latest quarterly Duke University's African Business Outlook survey, which can be exclusively reported on by CFO.co.za this morning, reveal a mostly gloomy picture.

MTN fine reduction figure a typo

There was surely some relief for South Africa’s MTN Group when it was notified by the Nigerian Communications Commission (NCC) that its outstanding fine (issued by the NCC in October) had been reduced by 35%, down to $3.4 billion. But this relief was surely short-lived, as the NCC's spokesman, Tony Ojobo, admitted the commission had made an error, or a "typo", as he put it, as the reduction was, in fact, only 25%, down to $3.9 billion.

Cloud & Clear - select your cloud provider at Finance Indaba Africa

Cloud is no longer an unknown or risky business, but an essential technological innovation that is a game changer for African businesses. “Through cloud solutions we are enabling companies to design their back office efficiently and deliver innovation across the business,” said Dee Houchen or Oracle (a platinum Finance Indaba partner) in a recent interview. At the Finance Indaba Africa all cloud providers will be present, giving South African finance professionals an unparalleled opportunity to compare offerings and learn.

Kenya in need of great CFOs, says Stavros Constantinou (Multiple Group)

“Great CFOs know exactly how to build controls, push transformation and convince stakeholders to invest in technology and that is what Kenya needs,” says Stavros Constantinou, Group CFO at the ever expanding privately-owned business Multiple Group. The executive from the Mediterranean island of Cyprus says the CFO Kenya community comes to Nairobi at exactly the right time. “We are here to help each other, because one plus one can equal three. This is the way forward.”

SA's credit rating slashed

Rating agency Fitch has cut South Africa’s sovereign credit rating by one notch, taking it down to BBB – the lowest investment grade category, one notch above "junk". This follows Standard & Poor’s (S&P) changing of the outlook earlier this year, from stable to negative. Moody’s assigns SA a similar rating.

From Big Data to Big Profits - exhibit at the Finance Indaba Africa

Put your headlamps on and start mining big data! Success and profits of businesses are often the results of smart use of data and information. Lately, the opportunities to use the data that exists within your organisation has grown exponentially and executives and accountants are increasingly starting to realise that they are missing out if they are not mining big data.

Expert Insight: Business regulations & registration process in Ghana

In this Expert Insight, our business advisor in Ghana, Eric Osei, talks us through the relevant rules and regulations for international businesses that want to set up shop in the West African country. He also outlines the 2-step registration process.

SA's former finance minister Trevor Manuel joins Old Mutual board

South Africa’s former finance minister, Trevor Manuel (pictured), has been appointed as a non-executive director and member of the Board Risk Committee of the Old Mutual board effective 1 January 2016.

Why climate talks matter for CFOs - KPMG's Marijke Vermaak on COP21

The ongoing climate conference COP21 in Paris has many people pondering about the future. According to some these annual Conference of the Parties (COP) on climate change are not more than talk shops, but others predict that decisions that will be taken in France next week will have massive ramifications for society and life on the planet. In this article, Marijke Vermaak, Climate Change & Sustainability Services Manager at our principal sponsor KPMG South Africa, sheds her light on the climate...

Sasol Inzalo shares now trading on the JSE

Sasol Inzalo shares have started trading on the JSE empowerment segment. With MTN Zakhele shares having commenced trading in early November, this marks only the second listing on this segment.

Newsletter: CFO Mpact: From private equity to leadership | Neotel CFO Steven Whiley resigns | Call for Speakers Finance Indaba Africa 2016

CFO South Africa Newsletter | Thursday 3 December Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles From private equity to leadership... Mpact CFO Brett Clark It is tempting as a CFO to get involved in every urgent issue affecting the business, because finance encompasses so many parts of the business," says Brett Clark, the CFO of Mpact and one of the nominees of the 2015 CFO of the Year Awards. “However, I believe a good CFO needs to create the time to analyse the information available in the business, visit the operations, debate issues with team members and focus on the key areas affecting the business.” Neotel CFO Steven Whiley resigns Steven Whiley, the CFO of fixed-line telecommunications company, Neotel, has resigned. This comes in the midst of an investigation into allegations of bribery and corruption in connection with a Transnet deal worth R1.8 billion. Neotel CEO, Sunil Joshi, was also implicated, and is currently on special leave pending the outcome. Concern about upward trend in the debt-to-GDP ratio Speaking at this year's Tax Indaba at the Sandton Convention Centre, the chief of the National Treasury’s Budget Office, Michael Sachs, said he was troubled by the upward trend in the debt-to-GDP ratio of 42.5%. While the figure itself was not sufficient cause to resort to emergency measures – it is still low in comparison to many other countries – the structural debt gap could lead South Africa into permanent low economic growth. Read more exclusive articles on CFO.co.za - SA narrowly escapes recession - Old Mutual now holds 100% of African Infrastructure Investment Mana... - Leslie Maasdorp CFO of Brics New Development Bank - Eskom declares 22% profit for H1 - Oracle's Andrew Sutherland on the cloud: disrupt, transform & c... - China Resources to buy SABMiller's Snow beer stake RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Johannesburg We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Get Smart in 2016 Martijn is a Dutch national and an experienced international renowned speaker at CFO Forums as the CFO Awards South Africa 2015, CFO Day the Netherlands and the Public Finance Conference. He will speak about the new economy, value creation, complementary economics, networking, lifehacking, and about his ideas to make the world a better place and share his insights on social and information capital. More information about Martijn. 16.30 Round Table discussion - Get Smart in 2016 This exclusive get-together will offer you the unique opportunity to share your vision and ideas with 10 CFOs from South Africa’s top companies. Join us as we discuss how CFOs can play a more active role encouraging radical new thinking while setting the tone in their own environments? 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Exhibit and Speak - Finance Indaba Africa 2016 Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. Finance Indaba Africa is the largest expo and conference for finance professionals. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read more about the call for speakers and see the Business Day advertisement. Diamond Sponsors Announcing the CFO Awards 2016 panel of judges CFO South Africa is currently in the process of selecting the members of the panel of judges who will choose the winners from a shortlist of nominated CFOs. With the selection of the panel of judges the importance of the CFO Awards for the business community at large is reflected. More judges will be announced on CFOAwards.co.za. The first panel members are; - Simon Ridley Group CFO Standard Bank & winner CFO of the Year 2014 - Carel Smit, Executive Committee member KPMG - Deon Viljoen, Group CFO Alexander Forbes & Winner CFO of the Year 2015 - Victor Sekese CEO SizweNtsalubaGobodo - David Fine Managing Director of McKinsey - Delphine Maïdou,CEO Allianz GCS Africa - Jonathan Lang, Practice Partner and Head of Africa Bowman Gilfillan - Christo Els, Partner Webber Wentzel - Ben Marx Vice-Chairperson Accountancy Department UJ - Claudelle von Eck, CEO The Institute of Internal Auditors SA - Brett Tromp, CFO at Discovery Health & winner Young CFO of the Year 2015 Join the CFO Awards 2016 Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

China Resources to buy SABMiller's Snow beer stake

State-backed China Resources Beer (Holdings) Co, currently in a joint venture (JV) with SABMiller, is considering a potential purchase of all or part of SABMiller’s 49% stake in China Resources Snow Breweries Co. China Resources has requested investment banks to pitch for an advisory role to aide them in making this decision, saying it will choose an advisor before this year is out.

Oracle's Andrew Sutherland on the cloud: disrupt, transform & compete

"We are seeing IT being used to create true business disruption," Dr Andrew Sutherland, Senior VP Technology and Systems, Oracle Europe, told attendees at the recent Oracle Cloud Day, held at The Forum in Bryanston. "Information increases exponentially in value the more there is of it," he added. But, he asked the assembled audience, how do you compete, and how do you differentiate? The answer, he said, lies in transformation.

Eskom declares 22% profit for H1

Eskom has released its interim financial results for the six months ending 30 September, for which profit has increased 22%, and net income climbed to R11.3 billion (compared to R9.3 billion previously). Group CEO Brian Molefe (pictured) said in a statement that the company has made significant strides in key areas of the business, which has placed it on a path to operational and financial stability.

From private equity to leadership... Mpact CFO Brett Clark

“It is tempting as a CFO to get involved in every urgent issue affecting the business, because finance encompasses so many parts of the business," says Brett Clark, the CFO of Mpact and one of the nominees of the 2015 CFO of the Year Awards. “However, I believe a good CFO needs to create the time to analyse the information available in the business, visit the operations, debate issues with team members and focus on the key areas affecting the business.”

Leslie Maasdorp CFO of Brics New Development Bank

Formal responsibilities have been allocated to the four vice-presidents of the Brics (Brazil, Russia, India, China, and South Africa) economic grouping’s New Development Bank. Bank vice-president (and South African) Leslie Maasdorp (pictured), has been named CFO. He will be responsible for the treasury, portfolio management, and finance budgeting and accounting functions.

Concern about upward trend in the debt-to-GDP ratio

Speaking at this year's Tax Indaba at the Sandton Convention Centre, the chief of the National Treasury’s Budget Office, Michael Sachs, said he was troubled by the upward trend in the debt-to-GDP ratio of 42.5%. While the figure itself was not sufficient cause to resort to emergency measures – it is still low in comparison to many other countries – the structural debt gap could lead South Africa into permanent low economic growth.

Neotel CFO Steven Whiley resigns

Steven Whiley (pictured), the CFO of fixed-line telecommunications company, Neotel, has resigned. This comes in the midst of an investigation into allegations of bribery and corruption in connection with a Transnet deal worth R1.8 billion. Neotel CEO, Sunil Joshi, was also implicated, and is currently on special leave pending the outcome.

SA narrowly escapes recession

Although agriculture, mining and electricity are in recession, manufacturing has rebounded, helping the country to avoid – albeit just barely – a recession. Had we not averted it, that would have been the second recession in six years.

Old Mutual now holds 100% of African Infrastructure Investment Managers

Old Mutual Alternative Investments (OMAI), part of the Old Mutual Investment Group, has acquired 50% of African Infrastructure Investment Managers (AIIM) which, given it already owns 50%, now makes it the exclusive shareholder of the pan-African investment company.

Newsletter: CFO Barclays; to fully international, fully regional and fully local | What can CFOs and entrepreneurs learn from each other? | Call for Speakers Finance Indaba Africa 2016

CFO South Africa Newsletter | Thursday 26 November Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles David Hodnett, with Barclays Africa to ‘fully international, fully ... As deputy chief executive officer and finance director, David Hodnett is the right hand of CEO Maria Ramos at Barclays Africa. In an exclusive interview with CFO South Africa, he speaks about his love for detail, his relationship with Ramos and the creation of Barclays. He also reveals how he very deliberately chose to plot his career path via risk management roles and why he sees the way he deals with people as a reason for his success. “I believe in accountability and giving people space to operate.” What can CFOs and entrepreneurs learn from each other? CFOs and entrepreneurs are known to sometimes bump heads. Why wouldn't they, there's so much to disagree on. But, if last night's CFO South Africa event was anything to go by, these two actually have more to agree on than disagree. The master class aimed to answer the question, 'What can CFOs and entrepreneurs learn from each other?' The conclusion was that they certainly can learn from each other if they just open their minds; the "crankier" CFO learning to be more open to risk, the "cowboy" entrepreneur paying more attention to the figures. And ultimately, both need to be aware of the "higher purpose" they are working towards. http://static.financieel-management.nl/img/pictures/104675.jpg" /> Oracle Cloud Day: lessons from Uber, Intel and Cell C "It is our job to keep ourselves up to date so we can make the right decisions," said Oracle's Andrew Sutherland. Kicking off the inspiring Oracle Cloud Day, which included valuable lessons from Uber, Intel and Cell C, his presentation revolved around 'transforming your tomorrow' and the ways in which IT is being used to create true business disruption. Read more exclusive articles on CFO.co.za - Edcon CEO Bernie Brookes working hard to turn company around - Be disrupted or die - CFO master class at the Oracle Cloud Day - Mr Price sees rise in profit and sales - Entrepreneur versus CFO question sparks lively debate at last night... - SAA suspends Sylvain Bosc, chief commercial officer - Funding and regulation hindering startup success South Africa - Vodacom sued for R197 billion in DRC RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Johannesburg We invite you to join us for the CFO South Africa event Get Smart in 2016. As global economic growth recovers there will be opportunities and risks for South Africa's economy, CFOs must ensure that the financial choices you make maintain the recent gains in competitiveness. Be a part of the conversation on co-creating a brighter South Africa. Program 16.00 Opening & Reception 17.00 Master Class - Get Smart in 2016 Martijn is a Dutch national and an experienced international renowned speaker at CFO Forums as the CFO Awards South Africa 2015, CFO Day the Netherlands and the Public Finance Conference. He will speak about the new economy, value creation, complementary economics, networking, lifehacking, and about his ideas to make the world a better place and share his insights on social and information capital. More information about Martijn. 17.00 Round Table discussion - Get Smart in 2016 This exclusive get-together will offer you the unique opportunity to share your vision and ideas with 10 CFOs from South Africa’s top companies. Join us as we discuss how CFOs can play a more active role encouraging radical new thinking while setting the tone in their own environments? 18.30 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Call for Speakers - Finance Indaba Africa 2016 13 & 14 October 2016, Sandton Convention Centre. Visit Finance-Indaba.co.za and boost your profits by 100%. Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read more about the call for speakers and see the Business Day advertisement. Diamond Sponsors Announcing the CFO Awards 2016 panel of judges CFO South Africa is currently in the process of selecting the members of the panel of judges who will choose the winners from a shortlist of nominated CFOs. With the selection of the panel of judges the importance of the CFO Awards for the business community at large is reflected. More judges will be announced on CFOAwards.co.za. The first panel members are; - Simon Ridley Group CFO Standard Bank & winner CFO of the Year 2014 - Carel Smit, Executive Committee member KPMG - Deon Viljoen, Group CFO Alexander Forbes & Winner CFO of the Year 2015 - Victor Sekese CEO SizweNtsalubaGobodo - David Fine Managing Director of McKinsey - Delphine Maïdou,CEO Allianz GCS Africa - Jonathan Lang, Practice Partner and Head of Africa Bowman Gilfillan - Christo Els, Partner Webber Wentzel - Ben Marx Vice-Chairperson Accountancy Department of Faculty of Economic and Financial Sciences UJ - Claudelle von Eck, CEO The Institute of Internal Auditors SA - Brett Tromp, CFO at Discovery Health & winner Young CFO of the Year 2015 Join the CFO Awards 2016 Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Be disrupted or die - CFO master class at the Oracle Cloud Day

Oracle Cloud Day: lessons from Uber, Intel and Cell C

"It is our job to keep ourselves up to date so we can make the right decisions," said Oracle's Andrew Sutherland. Kicking off the inspiring Oracle Cloud Day, which included valuable lessons from Uber, Intel and Cell C, his presentation revolved around 'transforming your tomorrow' and the ways in which IT is being used to create true business disruption.

Edcon CEO Bernie Brookes working hard to turn company around

Edcon, the largest non-food retailer in South Africa, has been in operation for more than 80 years and has expanded its footprint to include over 1,400 stores through nine different store formats. Two months ago it appointed Bernie Brookes, the former CEO of Myer (Australia’s largest department store), to the helm as its CEO. Brookes took over from Jürgen Schreiber, now heading up US-based Rexall Health.

David Hodnett, with Barclays Africa to 'fully international, fully regional and fully local'

As deputy chief executive officer and finance director, David Hodnett is the right hand of CEO Maria Ramos at Barclays Africa. In an exclusive interview with CFO South Africa, he speaks about his love for detail, his relationship with Ramos and the creation of Barclays. He also reveals how he very deliberately chose to plot his career path via risk management roles and why he sees the way he deals with people as a reason for his success. “I believe in accountability and giving people space to operate.”

Vodacom sued for R197 billion in DRC

It hasn't been a great month for network services providers in Africa. MTN landed itself in hot water up in Nigeria, while in the DRC, a shareholder from one of Vodacom's minority partners is suing the company for close on R200 billion.

Funding and regulation hindering startup success South Africa

Industry experts agree that South African startups have what it takes to succeed on the global stage, but structural issues are hindering development. While executives from South Africa’s leading enterprise development incubators are bullish about the progress being made and about the standard of South African startups, they are also concerned about government regulation, lack of funding direction and market access and inequitable distribution.*

SAA suspends Sylvain Bosc, chief commercial officer

Following in the wake of the company's CFO, Wolf Meyer's resignation earlier this week, SAA has announced that it has suspended its chief commercial officer, Sylvain Bosc (pictured).

What can CFOs and entrepreneurs learn from each other?

CFOs and entrepreneurs are known to sometimes bump heads. Why wouldn't they, there's so much to disagree on. But, if last night's CFO South Africa event was anything to go by, these two actually have more to agree on than disagree. The master class aimed to answer the question, 'What can CFOs and entrepreneurs learn from each other?' The conclusion was that they certainly can learn from each other if they just open their minds; the "crankier" CFO learning to be more open to risk, the "cowboy" entrepreneur paying more attention to the figures. And ultimately, both need to be aware of the "higher purpose" they are working towards.

Entrepreneur versus CFO question sparks lively debate at last night's event

On Thursday 19 November at The Turbine Hall in Newtown, CFO South Africa held an event (which company managing director Graham Fehrsen later promised would become an annual on the events calendar), asking what CFOs and entrepreneurs can learn from each other. The master class sparked lively debate, the full audience frequently erupting in laughter.

Mr Price sees rise in profit and sales

Durban-headquartered Mr Price, South Africa’s biggest listed clothing retailer, has reported a 16.6% rise in half-year (H1) profit. Sales rose 8.6%, to R8.5 billion.

Newsletter: MiX Telematics: listing at the NYSE | SAA CFO Wolf Meyer resigns | Relief for consumers: max interest rates revealed

CFO South Africa Newsletter | Thursday 19 November Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Listing at the NYSE - a chat to Megan Pydigadu (MiX Telematics) Not many South African CFOs will guide their JSE-listed company through a second listing in New York, but Megan Pydigadu did just that. We chatted to her about the ups and downs MiX Telematics has gone through since then, the balance between an entrepreneurial attitude and compliance and shifting the company culture. Aon CFO dinner report: fleet management, headache or big data oppor... Is fleet management a cost and risk nightmare or an opportunity to utilise big data for a competitive advantage? That was the topic of an intimate dinner gathering of CFOs on 11th November 2015 at The Marion On Nicol hotel in Johannesburg, made possible by risk management and insurance firm Aon. http://static.financieel-management.nl/img/pictures/104581.jpg" /> Old Mutual Wisdom Forum - learning from entrepreneurs Entrepreneurs hold some of the answers to our future in South Africa and corporate South Africa needs to play a part in cultivating and developing them if we want a more competitive and sustainable economic landscape. This was the driving message at the invitation-only Old Mutual Wisdom Forum on 10 November 2015, titled 'Cultivating the next class of entrepreneurs'. The event featured thought-provoking speakers Zev Siegl (a co-founder of global coffee empire Starbucks), international speaker and consultant Stephen Archer, Natasha Sideris (founder of the hugely successful Tashas) and Matsi Modise (MD of Simodisa Startups). Read more exclusive articles on CFO.co.za - Dee Houchen (Oracle): cloud enables speed and innovation - SAA CFO Wolf Meyer resigns - Aliko Dangote resigns from Dangote Flour - David Hartnett: systemic corruption has a detrimental effect on tax... - Relief for consumers: max interest rates revealed - Uber and WesBank sign R200 million deal - ABInBev and SABMiller reach an agreement Today CFO Event "House of the Future" 19 November 17.00 - 20.00 - Turbine Hall - Johannesburg On Thursday 19 November we bring together a unique blend of seasoned finance professionals and leading young entrepreneurs at the iconic Turbine Hall. What can we learn from each other and how can we bridge the gap between the executives of today’s most prominent businesses and those who will shape the future of South Africa? What are the opportunities to work closer together and strengthen our economy? Our CFO event is planned in Global Entrepreneur week "House of the future" and will form part of a week long initiative by the Dutch government launched by prime minister Mark Rutte of The Netherlands to enhance, empower and connect the relevant trade and entrepreneurial links between the Netherlands and South Africa. Join us as leading CFOs and entrepreneurs tackle some of our biggest challenges, Be a part of the conversation on co-creating a brighter South Africa. Program 17.00 Opening & Reception 17.30 Master Class - What can CFOs learn from start-ups? What can start-ups learn from CFOs? Hear the success stories of Vusi Thembekwayo, Global Business Speaker, Jo Pohl, CFO Telesure, Shabeer Khan, CFO Department of Trade & Industry, Samantha Pokroy, Founder & CEO at Sanari Capital, Eric van Marle, VP Transparent and Polo Radebe. CEO IDF. Let’s combine the network, experience and capital of the corporate world with great ideas and entrepreneurship. 17.30 Round Table discussion - Better governance, better business, better South Africa Join us as we discuss the role of government entities in becoming the enablers of better business in South Africa. What can public sector CFOs do to contribute to and enable business across South Africa? How can CFOs play a more active role encouraging entrepreneurial behaviour while setting the tone in their own environments? Join us as we tackle this critical topic during Global Entrepreneurship Week. 19.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Call for Speakers - Finance Indaba Africa 2016 13 & 14 October 2016, Sandton Convention Centre. Visit Finance-Indaba.co.za and boost your profits by 100%. Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read more about the call for speakers and see the Business Day advertisement. Diamond Sponsors Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2015 Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

SAA CFO Wolf Meyer resigns

Wolf Meyer, chief financial officer of South African Airways (SAA) has resigned. The announcement follows allegations of financial disputes between Meyer and the company's board of directors, as well as a reported breakdown of trust.

Dee Houchen (Oracle): cloud enables speed and innovation

How long do cloud ERP implementations take? Do they stay within budget? What are the risks? If you’re interested an answer to any of those questions, you simply cannot miss the CFO track of the Oracle Cloud Day on 24 November (8h30-14h00) at The Forum in Bryanston. In preparation for the event, CFO South Africa spoke exclusively to Dee Houchen, senior product marketing director Oracle for ERP Applications.

Aliko Dangote resigns from Dangote Flour

Africa’s richest man, Aliko Dangote, along with three other directors, yesterday announced their resignation from the board of Dangote Flour Mills.

Listing at the NYSE - a chat to Megan Pydigadu (MiX Telematics)

Not many South African CFOs will guide their JSE-listed company through a second listing in New York, but Megan Pydigadu did just that. We chatted to her about the ups and downs MiX Telematics has gone through since then, the balance between an entrepreneurial attitude and compliance and shifting the company culture.

Altech Autopage shutdown progresses

Local technology group Altron announced in May this year that it was planning to sell Altech Autopage's subscriber base (Autopage is part of the Altron TMT stable of companies). More recently, in September, Altron announced that it was looking to receive R1.5 billion in payments from local mobile networks for the aforementioned subscriber base.

David Hartnett: systemic corruption has a detrimental effect on tax compliance

Corruption, more than any other factor, leads to an increase in tax avoidance and retarded economic growth. That was the message of David Hartnett, former permanent secretary of tax at the UK’s revenue and customs authority, at this year's Tax Indaba at the Sandton Convention Centre. “When there is a fair system, tax compliance and tax morality seem to be high. However, there is ample evidence that systemic corruption can do serious harm to tax morality,” he said.

Relief for consumers: max interest rates revealed

According to the Department of Trade and Industry (dti), the new maximum interest rates for all types of credit agreements could reduce the cost of credit for consumers.

Uber and WesBank sign R200 million deal

Online taxi service Uber has secured a R200 million deal with vehicle finance provider WesBank to rent cars to drivers who cannot afford to buy them.

Old Mutual Wisdom Forum - learning from entrepreneurs

Entrepreneurs hold some of the answers to our future in South Africa and corporate South Africa needs to play a part in cultivating and developing them if we want a more competitive and sustainable economic landscape.

ABInBev and SABMiller reach an agreement

On Wednesday 11 November, Anheuser-Busch InBev (ABI or AB InBev) made a formal offer of $107 billion to buy SABMiller. This seals the long-awaited deal that will see the world's two largest brewers combine, and in so doing, control around half the industry's profit.

Aon CFO dinner report: fleet management, headache or big data opportunity?

Is fleet management a cost and risk nightmare or an opportunity to utilise big data for a competitive advantage? That was the topic of an intimate dinner gathering of CFOs on 11th November 2015 at The Marion On Nicol hotel in Johannesburg, made possible by risk management and insurance firm Aon.

Newsletter: A chat to Woolworths CFO Reeza Isaacs | SA heading for the fiscal cliff | MTN CEO resigns

CFO South Africa Newsletter | Thursday 12 November Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles David Jones, B-BBEE and success, a chat to Woolworths CFO Reeza Isaacs "Finance had to make sure that common sense trumped emotion" during the acquisition of the Australian department store chain David Jones, says Woolworths CFO Reeza Isaacs during an interview with CFO South Africa. "We now have to ensure that the business is focused on delivering on the deal synergies.” SA heading for the fiscal cliff While the recent countrywide #feesmustfall movement was rooted in fundamental social issues, the consequences of the 0% increase announced by government will be dire. In a recent joint sitting of the Select and Standing Committees of Finance in parliament, Professor Jannie Rossouw (pictured), head of the School of Economic and Business Sciences at Wits University, told attendees just how dire the aforementioned consequences may be. Thundafund CEO Patrick Schofield sees role for crowdfunding in FinTech After the incredibly successful FinTech Africa event in Cape Town on 20 October 2015, our reporter Ebrahim Moolla spoke to Patrick Schofield, CEO of crowdfunding platform Thundafund. They spoke about the event, the role crowdfunding can play for FinTech and his take on social entrepreneurship. Read more exclusive articles on CFO.co.za - Virtual data rooms essential for M&A - Arie Maree, Ansarada - MTN trying to reduce $5.2 billion fine - MTN CEO resigns - Zuma among world's best-paid presidents - Will Telkom be successful in buying Cell C? - Event 19/11: what can CFOs learn from entrepreneurs? RSVP for CFO Event "House of the Future" 19 November 17.00 - 20.00 - Turbine Hall - Johannesburg On Thursday 19 November we bring together a unique blend of seasoned finance professionals and leading young entrepreneurs at the iconic Turbine Hall. What can we learn from each other and how can we bridge the gap between the executives of today’s most prominent businesses and those who will shape the future of South Africa? What are the opportunities to work closer together and strengthen our economy? Our CFO event is planned in Global Entrepreneur week "House of the future" and will form part of a week long initiative by the Dutch government launched by prime minister Mark Rutte of The Netherlands to enhance, empower and connect the relevant trade and entrepreneurial links between the Netherlands and South Africa. Join us as leading CFOs and entrepreneurs tackle some of our biggest challenges, Be a part of the conversation on co-creating a brighter South Africa. Program 17.00 Opening & Reception 17.30 Master Class - What can CFOs learn from start-ups? What can start-ups learn from CFOs? Hear the success stories of Vusi Thembekwayo, Global Business Speaker, Jo Pohl, CFO Telesure, Shabeer Khan, CFO Department of Trade & Industry, Samantha Pokroy, Founder & CEO at Sanari Capital, Luvuyo Masinda, deputy CFO, CIB Standard Bank and Polo Radebe. Owner IDF. Let’s combine the network, experience and capital of the corporate world with great ideas and entrepreneurship. 17.30 Round Table discussion - Better governance, better business, better South Africa Join us as we discuss the role of government entities in becoming the enablers of better business in South Africa. What can public sector CFOs do to contribute to and enable business across South Africa? How can CFOs play a more active role encouraging entrepreneurial behaviour while setting the tone in their own environments? Join us as we tackle this critical topic during Global Entrepreneurship Week. 19.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Call for Speakers - Finance Indaba Africa 2016 13 & 14 October 2016, Sandton Convention Centre. Visit Finance-Indaba.co.za and boost your profits by 100%. Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read more about the call for speakers and see the Business Day advertisement. Diamond Sponsors Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Will Telkom be successful in buying Cell C?

According to reports, Telkom – 40% of which is owned by the South African government – is in talks to buy Cell C.

Event 19/11: what can CFOs learn from entrepreneurs?

What can CFOs and entrepreneurs learn from each other and how can we bridge the gap between the executives of today’s most prominent businesses and those who will shape the future of South Africa? Those are the central questions during a unique, once-off CFO South Africa event in the iconic Turbine Hall in Johannesburg on 19 November 2015.

Zuma among world's best-paid presidents

Data compiled and released by global TV news network CNN comparing the annual salaries of heads of State from different countries has caused quite a stir locally and abroad. The results show that SA's very own Jacob Zuma ranks fourth overall, coining a tidy $223,500 annual package.

David Jones, B-BBEE and success, a chat to Woolworths CFO Reeza Isaacs

"Finance had to make sure that common sense trumped emotion" during the acquisition of the Australian department store chain David Jones, says Woolworths CFO Reeza Isaacs during an interview with CFO South Africa. "We now have to ensure that the business is focused on delivering on the deal synergies.”

MTN trying to reduce $5.2 billion fine

By now we surely all know about the $5.2 billion penalty that Nigeria's Communications Commission, the country's telecoms regulator, issued MTN following the company's failure to disconnect customers with unregistered SIM cards. In the latest news, MTN Group is trying to reduce the fine by as much as 80%. It is even considering borrowing money from various financial institutions to help settle the penalty.

MTN CEO resigns

While senior executives negotiate with Nigerian regulators about the payment of the $5.2 billion fine, MTN CEO Sifiso Dabengwa (pictured) has tendered his resignation.

Virtual data rooms essential for M&A - Arie Maree, Ansarada

Virtual data rooms are crucial in ensuring that the acquisition process is as smooth as possible. That is according to Arie Maree, director at Ansarada, a world leader in merger and acquisition technology and headline sponsor of the Knife Capital Exit Conference, held at the Sandton Convention Centre on 21 August. A virtual data room is a limited-access website or software platform that bidders and advisers can use to peruse confidential corporate information before making a decision to purchase. These rooms offer significant cost savings on physical centres, especially when large teams of experts are required to perform extensive due diligence processes. They can be used for data storage, document exchange, file sharing, financial transactions and legal transactions, among other functions.

SA heading for the fiscal cliff

While the recent countrywide #feesmustfall movement was rooted in fundamental social issues, the consequences of the 0% increase announced by government will be dire.

Total injects $20 million into Zimbabwe

Over the last three years, French oil and gas company, Total, has invested $20 million into its Zimbabwean operations in a bid to strengthen the business.

Thundafund CEO Patrick Schofield sees role for crowdfunding in FinTech

After the incredibly successful FinTech Africa event in Cape Town on 20 October 2015, our reporter Ebrahim Moolla spoke to Patrick Schofield, CEO of crowdfunding platform Thundafund. They spoke about the event, the role crowdfunding can play for FinTech and his take on social entrepreneurship.

Facebook revenue surges; user numbers continue to grow

Facebook, that marvellous daily distraction. The way you know what your co-workers did on the weekend, what your friends ate for lunch, and which cute animal meme your mom felt most compelled to share. Social networking applications aside, Facebook continues to demonstrate its enormous success as a business.

Newsletter: Why Standard Chartered CFO moved to Telesure | SA at risk of further credit rating downgrades | Call for Speakers - Finance Indaba Africa 2016

CFO South Africa Newsletter | Thursday 5 November Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Exclusive: why Standard Chartered CFO Jo Pohl moved to Telesure Jo-Ann Pohl, a platinum member of CFO South Africa, has left her job as CFO Africa at Standard Chartered Bank to join insurance conglomerate Telesure Investment Holdings as group CFO, effective 15 October 2015. We spoke exclusively to Jo and asked her why she moved, what her proudest moment was at Standard Chartered Bank and what she hopes to achieve at Telesure. Gatekeeper and brand ambassador - Discovery Health CFO Brett Tromp The role of the CFO is changing dramatically and I believe being a brand ambassador is critical,” says Brett Tromp, CFO at Discovery Health and winner of not one but two CFO Awards this year. Brett's optimism, energy and strategic acumen earned him the title Young CFO of the Year and he also managed to win the High Performance Team Award. We spoke with him about Discovery’s new pharmacy offering, his push for reporting on health indicators and his values of integrity, intelligence, optimism and energy. “Integrity, intelligence, optimism and energy are my four key assets. SA at risk of further credit rating downgrades SA Finance Minister, Nhlanhla Nene (pictured), is struggling to keep the country's credit rating afloat while diminishing tax revenue puts pressure on the budget deficit, affording him less room to stimulate the struggling economy. Read more exclusive articles on CFO.co.za - Is a VAT rate increase needed? Judge Dennis Davis weighs in - SA's trade deficit drops dramatically - Nigerian Communications Commission slaps MTN with a hefty fine - SAP Business One - Improving total cost of ownership efficiencies - Don't miss the Oracle Cloud Day on 24 November 2015 - register now! - PetroSA selling off equity in its offshore blocks RSVP for CFO Event "House of the Future" 19 November 17.00 - 20.00 - Turbine Hall - Johannesburg On Thursday 19 November we bring together a unique blend of seasoned finance professionals and leading young entrepreneurs at the iconic Turbine Hall. What can we learn from each other and how can we bridge the gap between the executives of today’s most prominent businesses and those who will shape the future of South Africa? What are the opportunities to work closer together and strengthen our economy? Our CFO event is planned in Global Entrepreneur week "House of the future" and will form part of a week long initiative by the Dutch government launched by prime minister Mark Rutte of The Netherlands to enhance, empower and connect the relevant trade and entrepreneurial links between the Netherlands and South Africa. Join us as leading CFOs and entrepreneurs tackle some of our biggest challenges, Be a part of the conversation on co-creating a brighter South Africa. Program 17.00 Opening & Reception 17.30 Master Class - What can CFOs learn from start-ups? What can start-ups learn from CFOs? Hear the success stories of Vusi Thembekwayo, Global Business Speaker, Jo Pohl, CFO Telesure, Shabeer Khan, CFO Department of Trade & Industry, Samantha Pokroy, Founder & CEO at Sanari Capital, Luvuyo Masinda, deputy CFO, CIB Standard Bank and Polo Radebe. Owner IDF. Let’s combine the network, experience and capital of the corporate world with great ideas and entrepreneurship. 17.30 Round Table discussion - Better governance, better business, better South Africa Join us as we discuss the role of government entities in becoming the enablers of better business in South Africa. What can public sector CFOs do to contribute to and enable business across South Africa? How can CFOs play a more active role encouraging entrepreneurial behaviour while setting the tone in their own environments? Join us as we tackle this critical topic during Global Entrepreneurship Week. 19.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Call for Speakers - Finance Indaba Africa 2016 13 & 14 October 2016, Sandton Convention Centre. Visit Finance-Indaba.co.za and boost your profits by 100%. Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read more about the call for speakers and see the Business Day advertisement. Diamond Sponsors Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Nigerian Communications Commission slaps MTN with a hefty fine

The Nigerian telecommunications regulator, the Communications Commission, recently slapped MTN with a rather hefty fine – $5.2 billion (N1.04 trillion) to be exact – for failing to disconnect customers with unregistered (RICA) SIM cards.

Exclusive: why Standard Chartered CFO Jo Pohl moved to Telesure

Jo-Ann Pohl, a platinum member of CFO South Africa, has left her job as CFO Africa at Standard Chartered Bank to join insurance conglomerate Telesure Investment Holdings as group CFO, effective 15 October 2015. We spoke exclusively to Jo and asked her why she moved, what her proudest moment was at Standard Chartered Bank and what she hopes to achieve at Telesure. "The opportunity to work in non-banking financial services with a proudly South African brand on home soil was a compelling proposition and aligned to my personal goals."

SA's trade deficit drops dramatically

In early October we reported on the alarming state of SA's trade deficit, saying that as the export of minerals such as coal and iron-ore declined while oil imports rose, so the country's trade deficit widened. Good news, the South African Revenue Service (SARS) reports that SA's trade deficit has dropped dramatically.

Gatekeeper and brand ambassador - Discovery Health CFO Brett Tromp

“The role of the CFO is changing dramatically and I believe being a brand ambassador is critical,” says Brett Tromp, CFO at Discovery Health and winner of not one but two CFO Awards this year. Brett's optimism, energy and strategic acumen earned him the title Young CFO of the Year and he also managed to win the High Performance Team Award. We spoke with him about Discovery’s new pharmacy offering, his push for reporting on health indicators and his values of integrity, intelligence, optimism and energy. “Integrity, intelligence, optimism and energy are my four key assets."

Standard Bank opens Ethiopian office

In an effort to secure a foothold in one of the continent's fastest-growing economies, Standard Bank – Africa’s largest bank by assets, with a presence in 20 countries – has opened an Ethiopian office.

Don't miss the Oracle Cloud Day on 24 November 2015 - register now!

"Keep your eyes on the cloud, but keep your feet on the ground." That is the theme of the CFO track at this year's Oracle Cloud Day on 24 November (8h30-14h00) at The Forum in Bryanston, with an exciting program - tailor-made by CFO South Africa's event specialists. "Financials who want to know what cloud really is and what it can do for you, can register for free," says Melle Eijckelhoff, who has been personally involved in this unique partnership with Oracle. "Give yourself an early Christmas present and invest in your knowledge."

Is a VAT rate increase needed? Judge Dennis Davis weighs in

Although VAT is the easiest of the taxes in the South African Revenue Service’s armoury to raise, it would have devastating effects on the country’s poor, according to Judge Dennis Davis.

SA at risk of further credit rating downgrades

SA Finance Minister, Nhlanhla Nene (pictured), is struggling to keep the country's credit rating afloat while diminishing tax revenue puts pressure on the budget deficit, affording him less room to stimulate the struggling economy.

Everything FinTech start-ups need to know about the Barclays Techstars accelerator

Regardless of whether you're on the tech side or the finance side; cyber security or wealth management; pay attention, because Barclays Africa is on a mission to take start-ups up a notch, and they've launched a brand-spanking-new partnership to do just that.

SAP Business One - Improving total cost of ownership efficiencies

Advertorial

PetroSA selling off equity in its offshore blocks

PetroSA, the country's cash-strapped national oil and gas company, has announced it is intending to sell as much as 49% equity stakes in 10 of its offshore blocks.

Newsletter: Clean books and clean streets: Suren Maharaj at Pikitup | Cliff Baty new Man United CFO | China invests big in Africa

CFO South Africa Newsletter | Thursday 29 October Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Clean books and clean streets: Suren Maharaj at Pikitup Inheriting the wonky books of a government-owned company known for its shoddy service delivery and corruption sagas involving many staff members including the senior management is not everyone’s cup of tea, but the Durban-born CA Suren Maharaj was clearly up to the task. He managed to turn around Pikitup, the waste management company of the City of Johannesburg and turn an organisation with disastrous financials into a success story. Cliff Baty new Man United CFO Manchester United, one of the world's most popular and successful sports teams, recently announced that it has appointed Cliff Baty as its new CFO. "He is a proven finance executive who brings a wealth of international business experience, and will be an excellent addition to our senior management team.” China invests big in Africa Leading up to its imminent forum on China-Africa cooperation, China has pledged a whopping R660 billion ($50 billion), earmarked for various industrialisation projects in South Africa and Africa. Read more exclusive articles on CFO.co.za - Call for speakers now open - Finance Indaba 2016 - Mxit shuts up shop - Economic cloud has silver lining, says PwC’s Maija de Rijk-Uys - Launch of new African Bank, Good Bank, delayed - Armscor receives clean audit for 2014/2015 financial year - Asking the right questions – CFOs discuss big data The call for speakers for Finance Indaba Africa is open Finance Indaba Africa is the largest expo and conference for finance professionals. It brings together peers, advisors, technology suppliers, banks, platforms, tools, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. We are calling for speakers: are you enabling businesses to cut costs, boost sales, productivity and company profits? Then share your ideas at the Finance Indaba and help the country grow. Read more about the call for speakers. Contact Graham Fehrsen on 079 898 0227 / [email protected] Visit the Finance Indaba 13 & 14 October 2016. Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Visit Finance Indaba Africa 2016 Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. Over 1000 visitors are coming to Finance Indaba Africa to improve financial performance. Visitors are looking for growth, better and faster insights, more control and higher efficiency. Visitors are looking for ideas, inspiration, vendors and advisers and are planning to invest. Visitors are eager to boost their companies, networks and careers. Where & when? Sandton Convention Centre 13 & 14 October 2016. For more information please visit Finance-Indaba.co.za. Would you like to become an exhibitor or you want to visit the indaba? Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Cliff Baty new Man United CFO

Manchester United, one of the world's most popular and successful sports teams, recently announced that it has appointed Cliff Baty as its new CFO.

Call for speakers now open - Finance Indaba 2016

In 2014 CFO South Africa piloted the CFO Awards, this year we launched a massive partnership with KPMG and next year is going to see the Sandton Convention Centre's doors open for the first ever Finance Indaba. "The difference between success and failure is often determined by the quality of the finance team and processes," says CFO South Africa's founding director Melle Eijckelhoff, who has a long track record of landmark finance events in Europe and is now working tirelessly to make the Finance Indaba a massive success.

Mxit shuts up shop

Mxit, a local social network and, in fact, the first social platform to introduce South Africans to instant messaging, shocked many when it announced recently that it is shutting down its commercial operations and donating its intellectual property and technology assets (in their entirety) to independent public benefit organisation, The Reach Trust.

Clean books and clean streets: Suren Maharaj at Pikitup

Inheriting the wonky books of a government-owned company known for its shoddy service delivery and corruption sagas involving many staff members including the senior management is not everyone’s cup of tea, but the Durban-born CA Suren Maharaj was clearly up to the task. He managed to turn around Pikitup, the waste management company of the City of Johannesburg and turn an organisation with disastrous financials into a success story.

China invests big in Africa

Leading up to its imminent forum on China-Africa cooperation, China has pledged a whopping R660 billion ($50 billion), earmarked for various industrialisation projects in South Africa and Africa.

Economic cloud has silver lining, says PwC's Maija de Rijk-Uys

“Local is not so lekker at the moment." Maija de Rijk-Uys, who is responsible for the setup and roll-out of the PwC Accelerator Programme in SA, began her presentation at the Knife Capital Exit Conference at the Sandton Convention Centre on 21 August on a sour note. "There is negative investor sentiment, labour unrest, a dearth of skills, low economic growth, regulation and government interference and no cultural flair for entrepreneurism. Our established business rate, at just 2,9%, is 4th lowest in the world,” she lamented.

Launch of new African Bank, Good Bank, delayed

Following the failed acquisition of insurance company, Stangen (owned by African Bank’s former parent, African Bank Investments Limited), the launch of African Bank Good Bank, originally set for February next year, has been delayed to April.

Armscor receives clean audit for 2014/2015 financial year

Armscor, an agency of the Department of Defence and Military Veterans which also undertakes research and development and disposes of surplus military equipment, was recently presented with a Clean Audit award by the Auditor-General of South Africa for achieving a clean audit for the year ending 31 March 2015.

Asking the right questions - CFOs discuss big data

Working with big data can enable CFOs and their companies to innovate, interrogate and turn the finance department in a profit centre, rather than an expense. This only starts to yield results, though, when business intelligence allows finance bosses to “answer sufficiently interesting questions”.

Adapt IT buys CQS Technology Holdings for R217 million

For some R217 million, listed technology firm, Adapt IT has bought CQS Technology Holdings – a company which provides audit, financial and risk management software services solutions to over 4,000 customers in 30 countries.

Newsletter: Mervyn King: tax also in need of integrated thinking | CFO McDonalds from scenario planning to integrity | Think globally & grow up - successful FinTech event

CFO South Africa Newsletter | Thursday 22 October Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles From scenario planning to integrity, a chat with McDonald's SA CFO ... “To me business is about integrity, honesty and authenticity," says Zaf Mahomed, chief financial officer at McDonald's South Africa. “What I like about being a chief financial officer is the ability to influence strategic decision making,” says Zaf, when he sits down with CFO South Africa for an exclusive interview. “As CFO you look at the past and the future. What I enjoy the most is using the past to improve the outcome in the future. It is also a continuous balancing act between governance and being a business partner.” Mervyn King: tax also in need of integrated thinking Prof Mervyn King believes increasing taxes should be government’s last resort in bolstering the ailing economy. “Tax compliance is a two-way street. Taxation must be socially acceptable. The narrow financial prism is obsolete. The concept of value has changed, with economy, society and the environment now the central pillars of businesses,” Prof King told delegates last month at the fifth annual Tax Indaba at the Sandton Convention Centre. Think globally & grow up - successful FinTech event in Cape Town South African FinTech companies need to adopt an attitude of abundance, learn to “think globally” and then “grow up and do the hard work”. Those were some of the conclusions of the incredibly successful and well-attended FinTech Africa event in Cape Town on Tuesday 20 October 2015. “We have been overwhelmed by the response,” FinTech Africa MD Graham Fehrsen candidly admitted. Read more exclusive articles on CFO.co.za - 47.41% Stake in Capricorn Fund Managers bought by Anchor Group - New JSE listing: Stor-Age - FinTech entrepreneurship 'tough, painful and unhealthy', says Perry... - Cash in, cash out – the amazing Fundamo journey - Optimising performance now key for local CFOs, says Deloitte - Fintechs don’t realise own arrogance, says Paul Steenkamp (Standard... Today CFO Event "Finance Transformation" 22 October 15.00 - 19.00 - The Forum Campus - Bryanston Finance transformation isn’t easy. There are no silver bullets to successful transformation, and no one-size-fits-all road maps to follow. Each journey is unique and every organization’s ultimate destination is different. We hope this CFO South Africa Event Finance Transformation provides a helpful guide to you as a CFO, embarking on their own transformation journey, and acts as a catalyst to those who may be more wary of change. Program 15.00 Opening & Reception 16.00 Master Class - From the age of efficiency to the age of insight Have you managed to automate and align your finance function? The advances in technological solutions have certainly given finance chiefs that potential but what are the next steps? Forward-looking CFOs are using insights gleaned from Big Data and predictive-analytics technologies to accelerate business performance. By embracing a data-driven approach, CFOs can influence and guide major, strategic corporate decisions. What are the challenges and who is leading the way on this 21st century business necessity? Panel members: - Berenice Francis, Group Commercial Executive Imperial - Peter Walsh, Group CFO Servest - Aliday Taylor, Leader for Shared Services, Outsourcing, Strategy & Operations KPMG - James Saunders, CTO Business Optics - Anna Puzone, Head of Enterprise Performance Management Zetta Solutions 16.00 CFO Round Table - How big data is changing the role of the CFO In order to get the most out of analytics, it is important for CFOs to recognize and leverage three key benefits analytics offer: real-time data access, visualization, and the ability to analyze huge amounts of data. With Paul Marten, Finance Director Microsoft SA. 17.45 CFO Café Interact, learn, connect and discuss the challenges that you are facing with, with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Visit Finance Indaba Africa 2016 Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. Over 1000 visitors are coming to Finance Indaba Africa to improve financial performance. Visitors are looking for growth, better and faster insights, more control and higher efficiency. Visitors are looking for ideas, inspiration, vendors and advisers and are planning to invest. Visitors are eager to boost their companies, networks and careers. Where & when? Sandton Convention Centre 13 & 14 October 2016. For more information please visit Finance-Indaba.co.za. Would you like to become an exhibitor or you want to visit the indaba? Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Oct 22 Johannesburg | Finance Transformation Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Goodwell invests in FinTech startup, Nomanini

South African-based enterprise payments platform provider, Nomanini, has raised an undisclosed round of funding from impact investment firm, Goodwell Investments.

Think globally & grow up - successful FinTech event in Cape Town

South African FinTech companies need to adopt an attitude of abundance, learn to “think globally” and then “grow up and do the hard work”. Those were some of the conclusions of the incredibly successful and well-attended FinTech Africa event in Cape Town on Tuesday 20 October 2015. “We have been overwhelmed by the response,” FinTech Africa MD Graham Fehrsen candidly admitted. “Never in our wildest dreams had we expected such a large audience and such fantastic speakers.”

47.41% Stake in Capricorn Fund Managers bought by Anchor Group

It was recently announced that JSE-listed Anchor Group (a wealth and asset management company) will be acquiring a 47.41% share in Capricorn Fund Managers (a leading global emerging markets hedge fund business). The price is set at R348.4 million cash, comprising R256 million in cash and the balance of R92 million through the issue of 7.7 million Anchor shares at R12 per share.

From scenario planning to integrity, a chat with McDonald's SA CFO Zaf Mahomed

“To me business is about integrity, honesty and authenticity," says Zaf Mahomed, chief financial officer at McDonald's South Africa. “What I like about being a chief financial officer is the ability to influence strategic decision making,” says Zaf, when he sits down with CFO South Africa for an exclusive interview. “As CFO you look at the past and the future. What I enjoy the most is using the past to improve the outcome in the future. It is also a continuous balancing act between governance and being a business partner.”

New JSE listing: Stor-Age

As more funds continue to list on the Johannesburg Stock Exchange (JSE), so Stor-Age (a 10-year-old company which offers self-storage facilities to individuals and small businesses) plans to follow suit.

FinTech entrepreneurship 'tough, painful and unhealthy', says Perry Blacher

The challenge for African FinTech entrepreneurs is "doing things that are big enough", says seasoned FinTech entrepreneur Perry Blacher. According to him the best ones focus on the bottom of the pyramid. "A lot of entrepreneurs start businesses solely for the four million South Africans with money, while ignoring the 51 million who don’t have much in their bank accounts," he says. We spoke to Perry in the run up to our big FinTech Africa event in Cape Town tomorrow.

Mervyn King: tax also in need of integrated thinking

Prof Mervyn King believes increasing taxes should be government’s last resort in bolstering the ailing economy. “Tax compliance is a two-way street. Taxation must be socially acceptable. The narrow financial prism is obsolete. The concept of value has changed, with economy, society and the environment now the central pillars of businesses,” Prof King told delegates last month at the fifth annual Tax Indaba at the Sandton Convention Centre.

Optimising performance now key for local CFOs, says Deloitte

South African CFOs expect to spend much more of their time on performance optimisation, something that barely registered on their agendas last year. That is one of the conclusions of the Deloitte CFO Report 2015, which was published this week. In East Africa the most pressing issue on the radar is growth. West African CFOs are noticing a focus on the optimisation of their capital and funding structures.

FinTech is consumer-driven revolution, says GetBucks CEO Dave van Niekerk

"There is a lot of hype around FinTech at the moment, where everyone thinks that it is the be all and end all of financial services. I see it as more of a consumer-driven revolution. People are looking for more convenient and cost-effective ways to transact and do business."

Telkom separates out a new entity: Openserve

Telkom recently announced that it will be spinning off its wholesale division as a separate business. The new business, called Openserve, will have its own brand identity and intended to service the entire telecommunications market.

Fintechs don't realise own arrogance, says Paul Steenkamp (Standard Bank)

"Banks need to become less self-obsessed and more aware that all the decisions they make have to have customers at the centre," says Paul Steenkamp, Head: Innovation Capability at the Standard Bank Group. Paul was on the panel during the successful 2nd FinTech Africa event in Johannesburg. In the lead up to our 3rd event in Cape Town on 20 OctoberEbrahim Moolla spoke to him about the panic banks felt about FinTech and the way they are starting to embrace the revolution now. "One plus one equals three. Banks and FinTech companies can achieve a lot more by working together."

Newsletter: CFO Howden becoming a net exporter of talent | AB InBev to buy SABMiller for R1.4 trillion | African FinTech businesses conquer the world

CFO South Africa Newsletter | Thursday 15 October Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Becoming a net exporter of talent - Kevin Johnson, CFO Howden Africa Kevin Johnson has rolled out ERP projects globally and previously held management positions in Australia and the UK within the Howden Group (Part of NYSE listed Colfax). In South Africa he recently had the opportunity to relocate, but decided to extend his stay because “my family likes the country and I felt my job wasn’t finished”. Nkonki hosts lively CFO dinner with audit standards expert Dan Mont... The new audit report changes issues by the International Auditing and Assurance Standards Board (IAASB) are a “win-win situation”, because users have access to more information and there is scope for more intensive dialogue with management. That was the core message of former IAASB Deputy Chair Dan Montgomery during a successful CFO dinner on 12 October organised by CFO South Africa and hosted by Nkonki, a leading firm of registered auditors, accountants and advisers. South African CFO goes global - an interview with Ray Leclercq (Unit4) Ray Leclercq, a South African living in the UK and working from the Netherlands, has been with Unit4 as CFO for more than a year now and is working on probably the biggest transformation the company has ever seen. He is loving every minute of it, he says. “My job is to keep the business growing and performing, while simultaneously redesigning the company.” In this interview with CFO South Africa, Leclercq talks about business transformation, the ideal role of finance and how new technology can help finance to be a better business partner. Read more exclusive articles on CFO.co.za - African FinTech businesses can conquer the world, says IDM's Benay ... - Breaking news: AB InBev to buy SABMiller for R1.4 trillion - SAICA top35under35 announced - Cash in, cash out – the amazing Fundamo journey - Sibanya acquires Aquarius Platinum; companies' share prices soar - New accelerator for high-growth startups launched in SA - From the MD: Perspective - an elusive but important career guide Join CFO Event "Finance Transformation" 22 October 15.00 - 19.00 - The Forum Campus - Bryanston Finance transformation isn’t easy. There are no silver bullets to successful transformation, and no one-size-fits-all road maps to follow. Each journey is unique and every organization’s ultimate destination is different. We hope this CFO South Africa Event Finance Transformation provides a helpful guide to you as a CFO, embarking on their own transformation journey, and acts as a catalyst to those who may be more wary of change. Program 15.00 Opening & Reception 16.00 Master Class - From the age of efficiency to the age of insight Have you managed to automate and align your finance function? The advances in technological solutions have certainly given finance chiefs that potential but what are the next steps? Forward-looking CFOs are using insights gleaned from Big Data and predictive-analytics technologies to accelerate business performance. By embracing a data-driven approach, CFOs can influence and guide major, strategic corporate decisions. What are the challenges and who is leading the way on this 21st century business necessity? 16.00 CFO Round Table - How big data is changing the role of the CFO In order to get the most out of analytics, it is important for CFOs to recognize and leverage three key benefits analytics offer: real-time data access, visualization, and the ability to analyze huge amounts of data. 17.45 CFO Café Interact, learn, connect and discuss the challenges that you are facing with, with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. Register here now. Sponsor CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Sign up for the next Fintech Event in Bellville - Cape Town ?With over 500 million US dollars in private equity available for African FinTech companies and over 50 African companies seeking funding - we will be exploring what the blueprint for investing is in this exciting market. What is the true investment opportunity and who are tomorrow's winners? Can we make Africa more attractive to FinTech startups? How can we accelerate FinTech in Africa? These are the questions that will be discussed and answered during the Fintech Africa Investment Event hosted by the University of Stellenbosch Business School Executive Development (USB-ED) at the Bellville campus in Cape Town. 100 insiders, experts, startups and investors will discuss the developments and challenges for FinTech in Africa. Several FinTech companies will present themselves. This event is organised by FinTech Africa. The ecosystem that connects FinTech startups, investors, corporates and advisors. Demonstrate thought leadership, extend your network and develop business. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 - 16.45 Big organizations are doomed Keynote by Martijn Aslander, international speaker. Why small companies are better, smarter and faster and more fun. Why big corporates fear for their future. Why the age of abundance will change everything. 16.45 - 17.05 Trends in Fintech Investments world-wide Keynote by Nicole Anderson, CEO and founder of Fintech Circle Innovate 17.05 - 17.25 Why Barclays Africa has launched the Seeker Fund and their ambitions Keynote by Warren Squires, Chief Investment Officer of Barclays Africa 17.25 - 17.35 The importance of local knowledge and appropriate solutions Keynote by Oluyinka Sorungbe, Co-Founder and CIO of Sanwo.me 17.35 - 18.05 Panel discussion "What corporate investors believe the future holds for FinTech" With Dominique Collette-Antolik, Senior Investment Executive RMI Holdings, Kobus Ehlers, co-founder SnapScan and Benay Sager, COO Intelligent Debt Management Group. 18.05 - 18.15 Lessons from Medtech Keynote by Dr William Mapham, Founder Vula Mobile 18.15 - 18.45 Panel discussion "What entrepreneurs and advisors believe the future holds for FinTech" With Perry Blacher, Global FinTech Advisor & Investor, Dave van Niekerk, CEO GetBucks and African Micro Finance Entrepreneur, Brett Magrath, Co founder Zoona and Patrick Schofield, Founder of crowd funding platform Thundafund. 18.45 - 19.30 Closing thoughts, drinks & networking Wrap up and closing comments by Dr Morne Mostert, Director at Institute of Futures Research and Faculty, Stellenbosch Executive Education followed by a reception where 100 insiders, experts, startups and investors and discuss the latest insights on current issues and topics. Don’t miss this opportunity to join us! Join the next Fintech event at the University of Stellenbosch Business School Bellville Campus and register now for Tuesday 20 October - 15.30 - 19.00. A Fintech Africa Event in cooperation with: Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Visit Finance Indaba Africa 2016 Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. Over 1000 visitors are coming to Finance Indaba Africa to improve financial performance. Visitors are looking for growth, better and faster insights, more control and higher efficiency. Visitors are looking for ideas, inspiration, vendors and advisers and are planning to invest. Visitors are eager to boost their companies, networks and careers. Where & when? Sandton Convention Centre 13 & 14 October 2016. For more information please visit Finance-Indaba.co.za. Would you like to become an exhibitor or you want to visit the indaba? Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Oct 20 Stellenbosch| Fintech Investment Event Oct 22 Johannesburg | Finance Transformation Nov 19 Johannesburg | House of the future Nov 24 Johannesburg | CFO South Africa Track - Oracle Cloud Day 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Pick n Pay profits up by 23%

Times are tough for South African consumers. Regular power cuts and rising fuel costs during the first half of the year affected spending patterns; something that was felt by the country's biggest retailers.

Meet South Africa's FinTech rock star, Tobie van Zyl

Tobie van Zyl is as close as it gets to a FinTech rock star from South African soil. He started and exited multiple successful companies, consults for promising startups and is now eyeing a global mobile banking venture. In the runup to our landmark FinTech event in Cape Town, our reporter Ebrahim Moolla spoke to Tobie about the challenges and opportunities of doing business in South Africa.

From the MD: Perspective - an elusive but important career guide

It is easy to get caught up in your day to day grind and never lift your head long enough to see the horizon. Most of us have, at one point or another, found ourselves in that dreaded cycle of counting down the week days wishing for a weekend. If you’re fortunate enough to have a job that is truly fulfilling then it is quite possible that you don’t experience this and may be caught in the trap of not knowing when to “down tools” sufficiently to make time for the rest of your life.

Breaking news: AB InBev to buy SABMiller for R1.4 trillion

Anheuser-Busch (AB) InBev has agreed to purchase SABMiller for a staggering R1.4 trillion (£68 billion). This follows two weeks of negotiations, during which time SABMiller repeatedly rejected AB InBev's offers.

Nkonki hosts lively CFO dinner with audit standards expert Dan Montgomery

The new audit report changes issues by the International Auditing and Assurance Standards Board (IAASB) are a “win-win situation”, because users have access to more information and there is scope for more intensive dialogue with management. That was the core message of former IAASB Deputy Chair Dan Montgomery during a successful CFO dinner on 12 October organised by CFO South Africa and hosted by Nkonki, a leading firm of registered auditors, accountants and advisers.

Becoming a net exporter of talent - Kevin Johnson, CFO Howden Africa

Kevin Johnson has rolled out ERP projects globally and previously held management positions in Australia and the UK within the Howden Group (Part of NYSE listed Colfax). In South Africa he recently had the opportunity to relocate, but decided to extend his stay because “my family likes the country and I felt my job wasn’t finished”. The job over the last few years has been exciting, it has entailed a lot of restructuring and modernization, particularly in the IT space. Because of the lack of growth in the mining sector Johnson – from Northern Ireland – has been part of the team that changed the strategy to focus on the aftermarket, something the CEO and he had done before in Asia Pacific. “Even though our revenue dipped in mining, our profit in this sector went up.”

Sibanya acquires Aquarius Platinum; companies' share prices soar

Sibanye Gold has acquired the entire share capital of Aquarius Platinum for a sum of R4 billion. The purchase makes Sibanye one of the five largest global platinum group metals miners.

Next FinTech disruptor is African, says Techstars director Greg Rogers

The world-renowned startup accelerator Techstars has set up shop in Cape Town. As part of the recently announced Barclays Africa incubator Rise, Techstars and Barclays have partnered together to create a unique program for 10 promising FinTech startups. Applications are open until 10 January with program start on March 28. We spoke to Techstars executive director Greg Rogers about the program and his vision for FinTech in the continent.

Cash in, cash out - the amazing Fundamo journey

How Hannes van Rensburg’s start-up became a lynchpin of banking in emerging markets

Renewable energies attract R192 billion in foreign investment

According to a recent report by the Department of Energy (DoE, entitled 'The State of Renewable Energy in SA', the country's renewables sector has attracted some R192.6 billion in investment. Of this, R53.2 billion – the equivalent of 28% – was foreign investment.

Barclays Africa launches FinTech startup community

Earlier this week, Barclays Africa announced its new physical and virtual start-up incubator, Rise. According to Barclays, Rise, a global community intended to facilitate FinTech innovation and collaboration, will take advantage of tech solutions not reliant on physical infrastructure, thus making it an ideal solution for Africa.

South African CFO goes global - an interview with Ray Leclercq (Unit4)

Ray Leclercq, a South African living in the UK and working from the Netherlands, has been with Unit4 as CFO for more than a year now and is working on probably the biggest transformation the company has ever seen. He is loving every minute of it, he says. “My job is to keep the business growing and performing, while simultaneously redesigning the company.” In this interview with CFO South Africa, Leclercq talks about business transformation, the ideal role of finance and how new technology can help finance to be a better business partner.

SAICA top35under35 announced

The South African Institute of Chartered Accountants (SAICA) has announced the winners of its Top 35-under-35 (Top35U35) competition. They are (pictured left to right): Corporate Category – Cobus Grove; Entrepreneur category – Bronwyn Corbett; and Academia category – Francis Kwahene. Corbett was chosen as the overall winner.

African FinTech businesses can conquer the world, says IDM's Benay Sager

"FinTech is a fantastic thing, but lenders must be responsible and conduct proper creditworthiness assessments," says Benay Sager, chief operating officer at Intelligent Debt Management. Benay will be on the panel of experts during our upcoming FinTech Africa event in Cape Town on 20 October. Our journalist Ebrahim Moola spoke to him about FinTech's benefits and barriers. "My hope is that many more people will enjoy access to mobile banking technology and not have to go into a branch."

Newsletter: Denel CFO under investigation | AB InBev makes 3rd offer to SABMiller | The future of investing in FinTech

CFO South Africa Newsletter | Thursday 8 October Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Suren Singh, Morvest Business: 'superstar' CFO leading the change Morvest Business has been through some radical, strategic changes over the last few years and Suren Singh has been leading the charge as CFO. No longer an ICT company, Morvest now positions itself as a global diversified investment holding company à la Bidvest. Singh believes in clarity and says his passion rubs off on others. “I want to know more about my craft and the work I do than anyone has ever done in the history of the world,” he enthuses. As finance chief, Singh says during this interview with CFO South Africa, he is “in an ideal position to bridge the natural tensions between the CEO and the Board”. Denel CFO, CEO and Group Company Secretary under investigation Three of Denel's senior executives, CFO Fikile Mhlontlo, CEO Riaz Saloojee and group company secretary Elizabeth Africa have been placed on special leave while the company undertakes an internal investigation. Denel, which operates in the military aerospace and landward defence environment, and which is currently the largest defence equipment manufacturer in South Africa, will be looking into several issues at the company, including recent acquisitions. Expert Insight - How cultural and social factors impact your busine... Your business success in Ghana can hinge on the way you speak about your family, the things you use your left hand for and your respect for religion. In this Expert Insight Eric Osei, business analyst and author of the recently published book Doing Business in Ghana, talks us through the sensitivities, intricacies and opportunities. Read more exclusive articles on CFO.co.za - AB InBev makes third offer to purchase SABMiller - CFO South Africa now on Facebook - South Africa's problem with illegal money transfers - Colin Vallis: attitude change financial institutions crucial for Af... - Capitec bullish as company profits and customers increase - Anbann Chetti new CFO of Nedbank Wealth - The future of investing in FinTech in Africa? Join us on 20 October! - Anoj Singh new Eskom CFO Join CFO Event "Finance Transformation" 22 October 16.00 - 20.00 - Sandton Finance transformation isn’t easy. There are no silver bullets to successful transformation, and no one-size-fits-all road maps to follow. Each journey is unique and every organization’s ultimate destination is different. We hope this CFO South Africa Event Finance Transformation provides a helpful guide to you as a CFO, embarking on their own transformation journey, and acts as a catalyst to those who may be more wary of change. Program 16.00 Opening & Reception 17.00 Master Class - The next steps for finance teams The best CFOs continuously make great improvements in the way their finance function operates. They are very successful in redefining the financial function and make great efforts to become a cost-effective, service-oriented partner. The best CFOs show courage to radically rethink the way finance works and operates. What do they do and what can you learn? 17.00 Round Table - From Automation to Big Data It is about delivering new processes, services and analysis that fundamentally changes the way the finance function interacts with the business and leveraging new technologies and business models to deliver more efficient and effective services. Finance leaders should be seeking to transform their functions to deliver not just efficient services, but – more importantly – effective services as well. 18.45 CFO Café Interact, learn, connect and discuss the challenges that you are facing with, with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. Register here now. Sponsor CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Sign up for the next Fintech Event in Stellenbosch With over 500 million US dollars in private equity available for African FinTech companies and over 50 African companies seeking funding - we will be exploring what the blueprint for investing is in this exciting market. What is the true investment opportunity and who are tomorrow's winners? Can we make Africa more attractive to FinTech startups? How can we accelerate FinTech in Africa? These are the questions that will be discussed and answered. A 100 insiders, experts, startups and investors will discuss the developments and challenges for FinTech in Africa. Several FinTech companies will present themselves. This event is organised by FinTech Africa. The ecosystem that connects FinTech startups, investors, corporates and advisors. Demonstrate thought leadership, extend your network and develop business. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 - 16.45 Big organizations are doomed Keynote by Martijn Aslander, international speaker. Why small companies are better, smarter and faster and more fun. Why big corporates fear for their future. Why the age of abundance will change everything. 16.45 - 17.00 Trends in Fintech Investments world wide Keynote by Nicole Anderson, CEO and founder of Fintech Circle Innovate 17.00 - 17.15 Why Barclays Africa has launched the Seeker Fund and their ambitions Keynote by Warren Squires, Chief Investment Officer of Barclays Africa 17.15 - 17.30 The importance of local knowledge and appropriate solutions Keynote by Oluyinka Sorungbe, Co-Founder and CIO of Sanwo.me 17.15 - 17.45 Panel discussion "What corporate investors believe the future holds for FinTech" With Nicole Anderson, CEO and founder of Fintech Circle Innovate and Benay Sager, COO Intelligent Debt Management Group. 17.45 - 18.15 Panel discussion "What entrepreneurs and advisors believe the future holds for FinTech" With Perry Blacher, Global FinTech Advisor & Investor, Dave van Niekerk, CEO GetBucks and African Micro Finance Entrepreneur, Brett Magrath, Co founder Zoona and Patrick Scofield, Founder of crowd funding platform Thundafund. 18.15 - 19.00 Drinks & Networking This unique reception offers you the chance to meet 100 insiders, experts, startups and investors and discuss the latest insights on current issues and topics. Don’t miss this opportunity to join us! Join the next Fintech event at the University of Stellenbosch Business School Bellville Campus and register now for Tuesday 20 October - 15.30 - 19.00. A Fintech Africa Event in cooporation with: Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Visit Finance Indaba Africa 2016 Finance Indaba Africa is the biggest annual exhibition and conference for financial managers and specialists in Africa. Over 1000 visitors are coming to Finance Indaba Africa to improve financial performance. Visitors are looking for growth, better and faster insights, more control and higher efficiency. Visitors are looking for ideas, inspiration, vendors and advisers and are planning to invest. Visitors are eager to boost their companies, networks and careers. Where & when? Sandton Convention Centre 13 & 14 October 2016. For more information please visit Finance-Indaba.co.za. Would you like to become an exhibitor or you want to visit the indaba? Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Read the first CFO Magazine South Africa Who are South Africa's leading CFOs? How do successful CFOs move into Africa? Why should you transform your finance function and how can you do it? How do you attract and retain talent? Who are the preferred advisors to South African CFOs? Read the latest insights from the CFO Award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Sizwe Nxasana, CEO Firstrand, Mike Brown, CEO Nedbank, Brett Goschen, CFO MTN, Brooks Mparutsa, CFO Hollard and Irene Singo, CFO Dep. Mineral Resources. As our online member we would like to give you the opportunity to read the first ever CFO Magazine South Africa online and free of charge HERE. Would you like to advertise in the next issue out November? Please contact Jurrien Morsch at [email protected] or at +27 11 083 7515. CFO Awards 2016 - Reserve your table now Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa & Fintech Events in 2015 Oct 20 Stellenbosch| Fintech Investment Event Oct 22 Johannesburg | Finance Transformation Nov 19 Johannesburg | Risk, Compliance & Control Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

AB InBev makes third offer to purchase SABMiller

In an effort to combine the world's two largest brewers, Anheuser-Busch InBev NV is trying to buy its nearest competitor, SABMiller Plc, in what would be a record industry deal. The current and also third offer on the table is $104 billion; SABMiller having declined the first two.

CFO South Africa now on Facebook

While our presence on LinkedIn and Twitter is crucial as ever, we have recently decided to make the plunge on Facebook as well. Many, and I am one of them, are active on Facebook, but regard it as a bit of a personal space, away from work. An increasing amount of people around the world, however, use the popular social media platform as their one-stop-shop for everything current and exciting. If you're one of those, you better head over and 'like' CFO South Africa.

South Africa's problem with illegal money transfers

Many South Africans worry about the country's high levels of crime; levels which, according to last week's release of the latest crime statistics, seem to be on the rise.

Suren Singh, Morvest Business: 'superstar' CFO leading the change

Morvest Business has been through some radical, strategic changes over the last few years and Suren Singh has been leading the charge as CFO. No longer an ICT company, Morvest now positions itself as a global diversified investment holding company à la Bidvest. Singh believes in clarity and says his passion rubs off on others. “I want to know more about my craft and the work I do than anyone has ever done in the history of the world,” he enthuses. As finance chief, Singh says during this interview with CFO South Africa, he is “in an ideal position to bridge the natural tensions between the CEO and the Board”.

Colin Vallis: attitude change financial institutions crucial for Afican FinTech

Big financial institutions in South Africa have changed their attitude and are now ready to collaborate with FinTech companies, says investment professional Colin Vallis (PlatCol Investments), who was on the panel during the successful 2nd FinTech Africa event in Johannesburg. In the lead up to our 3rd event - in Cape Town on 20 October - Ebrahim Moolla spoke to Colin and got his vision on the state of FinTech in the country. Are there too many virtual payment solutions? Where are the venture capitalists? What should entrepreneurs do better?