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17 November 2015 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. 16 November 2015 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. 16 November 2015 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. 15 November 2015 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. 13 November 2015 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. 13 November 2015 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. 12 November 2015 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. 12 November 2015 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. 12 November 2015 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" 11 November 2015 According to reports, Telkom – 40% of which is owned by the South African government – is in talks to buy Cell C. 11 November 2015 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. 10 November 2015 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. 10 November 2015 "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.” 09 November 2015 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. 09 November 2015 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. 09 November 2015 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. 08 November 2015 While the recent countrywide #feesmustfall movement was rooted in fundamental social issues, the consequences of the 0% increase announced by government will be dire. 06 November 2015 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. 06 November 2015 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. 05 November 2015 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. 05 November 2015 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" 04 November 2015 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. 04 November 2015 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." 03 November 2015 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. 03 November 2015 “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." 02 November 2015 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. 02 November 2015 "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." 02 November 2015 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. 01 November 2015 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. 30 October 2015 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. 30 October 2015 Advertorial 29 October 2015 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. 29 October 2015 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" 28 October 2015 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. 28 October 2015 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. 27 October 2015 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. 27 October 2015 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. 26 October 2015 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. 26 October 2015 “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. 25 October 2015 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. 23 October 2015 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. 23 October 2015 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”. 22 October 2015 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. 22 October 2015 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" 21 October 2015 South African-based enterprise payments platform provider, Nomanini, has raised an undisclosed round of funding from impact investment firm, Goodwell Investments. 21 October 2015 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.” 20 October 2015 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. 20 October 2015 “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.” 19 October 2015 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. 19 October 2015 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. 19 October 2015 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. 16 October 2015 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. 16 October 2015 "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." 15 October 2015 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. 15 October 2015 "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." 15 October 2015 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" 14 October 2015 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. 14 October 2015 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. 14 October 2015 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. 13 October 2015 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. 13 October 2015 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. 13 October 2015 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.” 12 October 2015 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. 12 October 2015 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. 12 October 2015 How Hannes van Rensburg’s start-up became a lynchpin of banking in emerging markets 11 October 2015 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. 09 October 2015 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. 09 October 2015 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. 08 October 2015 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. 08 October 2015 "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." 08 October 2015 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" 07 October 2015 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. 07 October 2015 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. 06 October 2015 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. 06 October 2015 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”. 05 October 2015 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? 05 October 2015 As the export of minerals like coal and iron-ore declined while oil imports rose, so South Africa’s trade deficit widened. 05 October 2015 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. 04 October 2015 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. 03 October 2015 Capitec is the best-performing bank stock in South Africa at present. The small financial institution, based in Stellenbosch, has gained 40% compared to the average decline of 4.5% on the six-member FTSE/JSE Africa Banks Index. 02 October 2015 As of end September, Anbann Chetti, previously CFO of Nedbank Corporate Banking, will be CFO of Nedbank Wealth. Chetti will be taking over this position from Walter Marte, who has been promoted to COO of Nedbank Wealth. 02 October 2015 FinTech Africa is back, with an event that promises to be bigger, better and even more inspiring than the July event in Johannesburg. Hosted by the University of Stellenbosch Business School Executive Development (USB-ED) at their Bellville campus in Cape Town, national and international speakers and panellists will shed their light on the f future of investing in FinTech in Africa. Whether you are an investor or a FinTech entrepreneur, the event on 20 October 2015 is one you should not miss! 01 October 2015 Four-time CFO Awards winner Anoj Singh has been appointed permanent CFO of Eskom. 01 October 2015 CFO South Africa Newsletter | Thursday 1 October Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the week: Bongani Nqwababa, Sasol He sure doesn't choose the easiest CFO roles, does Bongani Nqwababa. After a career at firms like Shell Southern Africa, Eskom and Anglo American Platinum (Amplats), he is currently tasked with navigating national pride Sasol through a tricky period of low oil prices. Luckily, Bongani has earned his striped as crisis manager par excellence at Amplats, where his calm head was crucial in times of strikes. Nampak targets 100% share in Angolan market Nampak, the only can producer with operations in Angola, currently supplies 56% of the country's market. Imports comprise the balance. Company CEO, Andre de Ruyter, based in the Johannesburg office, said Nampak will likely see that market share increase as customers attempt to source cans locally and avoid the import duty. SA property market slows According to the FNB South African Estate Agent Survey for Q3 of 2015, activity in the South African residential property market appears to be slowing down, which could have implications for near-term mortgage lending growth. On a year-on-year basis, Q3 saw marked decline in the residential activity rating for the first time in several years. Read more exclusive articles on CFO.co.za - Exclusive CFO Dinner with world-renowned audit expert - Business leaders weigh in on the impact of global megatrends - Tax Indaba: parliament looks at 'creative ways' to increase tax base - Mozambican expansion for Engen - $400 million investment in SA solar thermal plant - Lessons from a successful exit: iKubu bought by Garmin - Strikes cost South Africa R6 billion in 2014 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 mind-blowing Fintech Event in Stellenbosch Over 500 million US dollar in private equity is available for African FinTech companies. Over 50 African companies seek funding. Which one to choose, where to invest in? Are investors too late? 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. Join the FinTech Africa Event 20 October in Stellenbosch. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 - 17.00 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. 17.00 - 17.15 Lessons from MedTech Keynote by Dr William Mapham, Stellenbosch University. 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 in Stellenbosch and register now for Tuesday 20 October - 15.30 - 19.00. 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" 30 September 2015 World-renowned audit expert Dan Montgomery is the main draw card during an intimate, exclusive dinner for top CFOs at the Marion on Nicol on 12 October 2015. The dinner will be hosted by CEO Sindi Zilwa of fast-growing assurance and advisory firm Nkonki, who personally invited Montgomery to come to South Africa and share his insights at its 5th Annual Audit Committee Conference and at the dinner. 30 September 2015 Advertorial 29 September 2015 As Angola's buyers seek a local can manufacturer in response to government plans for an import duty on the industry, so Nampak has decided to target a 100% market share in the country. 29 September 2015 He sure doesn't choose the easiest CFO roles, does Bongani Nqwababa. After a career at firms like Shell Southern Africa, Eskom and Anglo American Platinum (Amplats), he is currently tasked with navigating national pride Sasol through a tricky period of low oil prices. Luckily, Bongani has earned his striped as crisis manager par excellence at Amplats, where his calm head was crucial in times of strikes. The new strategy he plotted recently saw Amplats selling off its Rustenburg mines to Sibanye, but Nqwababa has already moved on to other challenges. 28 September 2015 According to the FNB South African Estate Agent Survey for Q3 of 2015, activity in the South African residential property market appears to be slowing down, which could have implications for near-term mortgage lending growth. On a year-on-year basis, Q3 saw marked decline in the residential activity rating for the first time in several years. 28 September 2015 The Parliament’s Standing Committee on Finance is looking at 'creative' ways to increase the tax base, including tyre and electricity levies, and is intensifying work on double taxation agreements and legislation, in the hope of discouraging multinationals from exploiting loopholes. That was the message of MP Des van Rooyen, chairman of the committee, during the recent Tax Indaba in Sandton. 27 September 2015 Engen, Africa's largest energy multinational, operating in 18 countries in sub-Saharan Africa and the Indian Ocean Islands, has announced it will be opening a further three service stations in Mozambique – two in Inhambane and one in Maputo. The company currently operates 16 services stations in the country. 25 September 2015 Most South Africans are well aware of the country's pressing electricity shortage. Overseas Private Investment Corp. (OPIC), the US government’s development bank, has announced it will invest as much as $400 million in a South African solar thermal plant. 25 September 2015 Franz Struwig learnt some valuable lessons on the way to seeing his start-up iKubu bought out by global navigation provider Garmin. 24 September 2015 Many have surely heard of "strike season" – that dreaded time of year when wage negotiations take place. But how many of us know the damaging economic impact thereof? 24 September 2015 CFO South Africa Newsletter | Thursday 24 September Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFOs are myth busters, says retiring Standard Bank CFO Simon Ridley As CFOs we need to be trusted advisors, rather than critics,” says Simon Ridley, CFO at the Standard Bank Group and last year’s CFO of the Year. In an exclusive interview with CFO South Africa, Ridley talks about the myth busting responsibility of CFOs and CAs, the charm of over-disclosing, the reason everybody at the bank knows his mother and about being the perfect business partner: “You can’t just throw stones at a problem. Inspiring CFO event dives deep into Planning, Budgeting & Forec... On Thursday 17 September at 54 on Bath hotel in Rosebank, CFO South Africa held another of its increasingly popular events, this one covering the theme of 'Digital Transformation'. The evening was a resounding success, with the 'Planning, Budgeting and Forecasting in the 21st Century' (PBF) Master Class enjoying a full audience. KPMG expert talks cyber security Speaking at CFO South Africa's recent event, which followed the theme of 'Digital Transformation', Nathan Desfontaines, Information Security & Protection & Business Resilience Manager at KMPG, both informed and entertained attendees on the importance of cyber security. According to him, there are organisations that have been hacked and know about it, and organisations that have been hacked and don't. Read more exclusive articles on CFO.co.za - IP theft, extortion and interuption - a new generation of cyber risks - Revered FirstRand CEO Sizwe Nxasana steps down - Planning, budgeting and forecasting CFO Master Class sparks lively ... - MillerCoors CFO Gavin Hattersley named CEO - Brait sells bonds worth $540 million to fund acquisitions - Food giant Kellogg expands into Africa 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 mind-blowing Fintech Event in Stellenbosch Over 500 million US dollar in private equity is available for African FinTech companies. Over 50 African companies seek funding. Which one to choose, where to invest in? Are investors too late? 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. Join the FinTech Africa Event 20 October in Stellenbosch. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 - 17.00 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. 17.00 - 17.15 Lessons from MedTech Keynote by Dr William Mapham, Stellenbosch University. 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 in Stellenbosch and register now for Tuesday 20 October - 15.30 - 19.00. 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" 23 September 2015 Established in 2010, MTN Zakhele, a vehicle for previously disadvantaged South Africans to invest in MTN Group Limited, has announced that it intends to list its ordinary shares as BEE Securities on the BEE Segment of the JSE on 5 November this year. The empowerment scheme, which raised R2.7 billion when it first launched in 2010, owns four percent of MTN SA and has a market capitalisation of R9 billion. 23 September 2015 Speaking at CFO South Africa's recent event, which followed the theme of 'Digital Transformation', Nathan Desfontaines, Information Security & Protection & Business Resilience Manager at KMPG, both informed and entertained attendees on the importance of cyber security. According to him, there are organisations that have been hacked and know about it, and organisations that have been hacked and don't. 22 September 2015 Kellogg has agreed to purchase a 50% stake in Multipro, a Nigerian food distributor, for some $450 million. Costs associated with the Multipro deal will reduce earnings per share by 1 cent in the third quarter, according to Kellogg. 22 September 2015 “As CFOs we need to be trusted advisors, rather than critics,” says Simon Ridley, CFO at the Standard Bank Group and last year’s CFO of the Year. In an exclusive interview with CFO South Africa, Ridley talks about the myth busting responsibility of CFOs and CAs, the charm of over-disclosing, the reason everybody at the bank knows his mother and about being the perfect business partner: “You can’t just throw stones at a problem.” 21 September 2015 Investment company Brait SE, controlled by Christo Wiese, has sold $539 million of five-year convertible bonds in order to fund acquisitions. According to the company, it intends to use the proceeds for general purposes, with a primary focus on funding strategic acquisitions. 21 September 2015 CFOs should prepare for a new generation of cyber risks which are fast evolving, moving beyond the established threats of data breaches, privacy issues and reputational damage to operational damage, business interruption and even potentially catastrophic losses. A new report – A Guide to Cyber Risk: Managing The Impact of Increasing Interconnectivity – examines the latest trends in cyber risk and emerging perils around the globe. 20 September 2015 Stenprop CFO Patsy Watson has said that the ALTX-listed company, with assets worth some R6 billion, is on track to move to the main board by end 2015. The company focuses on property investment in the UK, Germany and Switzerland. 19 September 2015 Sizwe Nxasana, who took over from Laurie Dippenaar as CEO of banking group FirstRand in 2010, will be stepping down at the end of September. Nxasana's deputy, Johan Burger, will be taking over. 18 September 2015 As many CFOs anxiously await further announcements regarding interest rate hikes and how this may affect their business and their budgets, last night's CFO South Africa event was both well timed and well attended. 18 September 2015 On Thursday 17 September at 54 on Bath hotel in Rosebank, CFO South Africa held another of its increasingly popular events, this one covering the theme of 'Digital Transformation'. The evening was a resounding success, with the 'Planning, Budgeting and Forecasting in the 21st Century' (PBF) Master Class enjoying a full audience. 17 September 2015 Gavin Hattersley, who has served as MillerCoors' interim CEO since 1 July, has been appointed CEO with immediate effect. 17 September 2015 CFO South Africa Newsletter | Thursday 17 September Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Lawrence Weitzman - Guiding Telkom-acquisition BCX through the storm The acquisition by Telkom, the death of its beloved CEO and the need for a major restructuring have kept Lawrence Weitzman, CFO at Business Connexion (BCX), busier than ever. Twice nominated for the annual CFO Awards, Weitzman has successfully navigated his company through the trials and tribulations and is understandably proud the firm has managed to do well. Managing people in the right way and being a trusted leader is the real reason behind the success, says Weitzman, who comes across as a soft-spoken accountant but has established himself a real leader. “I try and give people space to do their own things and to make mistakes.” Tax watchdog Bernard Ngoepe demands more independence The Office of the Tax Ombud should become completely independent from SARS, according to Tax Ombud Bernard Ngoepe. The retired judge announced his demands in a keynote speech during the Tax Indaba at the Sandton Convention Centre on 7 September 2015. From the MD: You can't buy experience You can listen carefully and take notes. You can write a to-do-list and focus on your day to day actions, but the harsh reality of life, and particularly a professional life, is that you can't buy experience. Read more exclusive articles on CFO.co.za - Dumisani Dlamini - 5 ways public sector CFOs can get a clean audit - VW CFO Hans Dieter Pötsch becomes Board Chairman - Smile Telecoms brings internet to Africa - CFO Shabeer Khan achieves clean audit for DTI - Sasol CEO David Constable says company is in good shape - Bidvest profits up, company eyes African expansion Today CFO Event "Digital Transformation" 17 September 16.00 - 20.00 - 54 on Bath Boutique Hotel - Sandton In no time at all digital transformation has had an enormous impact on our organizations and business models. And this is just the beginning. How can we understand this digital transformation, and see the financial opportunities and consequences for the business? Join us for this event, and you will find the inspiration, the examples and the knowledge you need to embrace the opportunities technology has to offer. Program 16.00 Opening & Reception 17.00 Private Sector Round Table - What if Steve Jobs led a public entity? The success of a company like Apple is borne of their ability to radically break with today's conventions. Their way of working is not just based on technological shrewdness. Inspiration, creativity and the will to do things differently are equally important in this case. The vision of Steve Jobs opened the doors to a whole new industry and new ways of value creation. What can we as Private Sector CFOs learn from that? With Fikile Mhlontlo, CFO Denel. 17.00 Master Class Planning, Budgeting & Forecasting in the 21st Century Today, many CFOs are turning to rolling forecasts to inspire and lead their organisations to superior performance. Hear experts on the best practices of strategic planning in today’s fast changing world. They will present the latest insights and the CFO research results on technology driven budgeting and forecasting. Also they will discuss the 5 key points of forecasting and how to master the cutting edge tools and techniques and how to integrate budgeting and rolling forecasts with other management systems to ensure to achieve a superior performance. With Zafar Mohamed, CFO McDonalds SA, Armin Moradi, Territory Manager - Financials Oracle, Seldon Goodwin, Solution Architect Ethoss, Charl du Toit, Associate Director Business Intelligence KPMG, Derik Rothman, Director Futuresense, Carl Janse van Rensburg, Operations Director Intellient and Joël Roerig, Editor CFO South Africa. 17.00 Public Chapter Round Table - What if Steve Jobs led a public entity? The success of a company like Apple is borne of their ability to radically break with today's conventions. Their way of working is not just based on technological shrewdness. Inspiration, creativity and the will to do things differently are equally important in this case. The vision of Steve Jobs opened the doors to a whole new industry and new ways of value creation. What can we as Public CFOs learn from that? With Dumisani Dlamini, CFO National Arts Council. 18.45 Café & 10 things you need to know about Cyber Security Keynote by Nathan Desfontaines, Information Security & Protection & Business Resilience Manager at KPMG. Nathan is a leader in ensuring the success of information security through a combination of business and technical acumen. He is a leading subject matter expert in penetration testing, vulnerability assessments, risk assessments and information security management as well as information security strategy development and implementation. Nathan will update you on the 10 most important things about cyber security every CFO should know but were too afraid to ask. 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. Sign up for the next mind-blowing Fintech Event in Stellenbosch Join the FinTech Africa Event 20 October in Stellenbosch. At this meeting 100 insiders, experts, startups and investors discuss the developments and challenges for FinTech in Africa. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 Big organisations are doomed By Martijn Aslander, international speaker and Dave van Niekerk, CEO GetBucks 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. 17.00 Panel discussion "The future of FinTech in Africa" Startup, bankers, investors and industry insiders discuss the challenges & opportunities for FinTech in Africa. Are we missing out in Africa?This event is organised by FinTech Africa. The ecosystem that connects FinTech startups, investors, corporates and advisors. Join the next Fintech event in Stellenbosch and register now for Tuesday 20 October - 15.30 - 19.00. 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 Events in 2015 Sept 17 Johannesburg | Digital Transformation 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" 16 September 2015 South Africa's Department of Trade and Industry (dti), along with several of its entities, has been given a clean audit for 2014/15 by the auditor general of SA, which means the dti's financial statements for the period in question are free of material misstatements. 16 September 2015 You can listen carefully and take notes. You can write a to-do-list and focus on your day to day actions, but the harsh reality of life, and particularly a professional life, is that you can't buy experience. 15 September 2015 While many South African CFOs might dream of becoming CEO at some stage in their careers, the recent example at VW in Germany might convince some to dream even bigger. 15 September 2015 The acquisition by Telkom, the death of its beloved CEO and the need for a major restructuring have kept Lawrence Weitzman, CFO at Business Connexion (BCX), busier than ever. Twice nominated for the annual CFO Awards, Weitzman has successfully navigated his company through the trials and tribulations and is understandably proud the firm has managed to do well. Managing people in the right way and being a trusted leader is the real reason behind the success, says Weitzman, who comes across as a soft-spoken accountant but has established himself a real leader. “I try and give people space to do their own things and to make mistakes.” 14 September 2015 Africa is a continent with immense potential. Indeed, the continent already has a rapidly growing mobile consumer market. As smartphones become more accessible and affordable, so the need for internet access increases – a need which mobile internet firm Smile Telecoms intends to meet. 14 September 2015 The National Arts Council (NAC) of South Africa recently received a clean audit and was praised by the Auditor-General South Africa, Thembekile Kimi Makwetu. NAC CFO Dumisani Dlamini is one of our Expert Insight contributors. In this article he discusses 5 things that public sector CFOs should consider in the pursuit of a clean audit. 13 September 2015 Sasol CEO, David Constable, believes the company is in good shape despite current oil prices. He also believes the company did the right thing when it implemented a recent cost-cutting and cash-conservation plan to save money, in so doing also protecting itself from low oil prices. 11 September 2015 Despite erratic economic conditions, South Africa’s second-largest company by sales, Bidvest Group, which has interests in a variety of businesses from car dealerships to catering, is investigating new ways to boost its growth across Africa. 11 September 2015 The Office of the Tax Ombud should become completely independent from SARS, according to Tax Ombud Bernard Ngoepe. The retired judge announced his demands in a keynote speech during the Tax Indaba at the Sandton Convention Centre on 7 September 2015. 10 September 2015 The Financial Services Board (FSB) has announced that the Registrar of Credit Rating Agencies has cancelled Fitch Southern Africa's registration as a credit rating agency. The cancellation request came from Fitch itself. 10 September 2015 CFO South Africa Newsletter | Thursday 10 September Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Eskom's acting CFO Anoj Singh: “Exposure the key to career developm... As one of the quiet men behind Transnet's relative success - for a State-Owned Company (SOC) - CFO Anoj Singh was recently drafted as acting Eskom CFO, joining his Transnet chief Brian Molefe at the battling power utility. Singh started working at Eskom and already messages from Megawatt Park have started to become clearer. Only the future will tell if the top executive, who won 2 CFO Awards in both 2014 and 2015, will save Eskom. Expert Insight - 9 potential investment sectors in Ghana The African continent has become the most exciting global economic story over the past decade. That narrative has fuelled optimism in its member states, which are now vying for the attention of international investors and businesses. Ghana is one of those countries. In this Expert Insight Eric Osei, business analyst and author of the recently published book Doing Business in Ghana, lists 9 sectors that are great investment ideas. Change management adds or destroys value: Monna Monnakgotla, KPMG Change management is not something fluffy, but a pivotal process that impacts the bottom line. That is the firm belief of Monna Monnakgotla, Partner in KPMG’s People & Change service line with 18 years of experience in HR and change management. Monnakgotla was one of the experts during our last exclusive CFO Dinner. Afterwards we were able to chat to him, resulting in these 5 questions and answers. Read more exclusive articles on CFO.co.za - Glenn Fullerton new Nampak CFO - Amplats sells Rustenburg mines to Sibanye for R4.5 billion - Editorial: Integrated reporting vs. saving the world - Africa's richest man invests in sub-Saharan Africa - McKinsey: Infrastructure is the way to grow SA's GDP - Cashbuild shows increased revenues and expanded footprint RSVP for CFO Event "Digital Transformation" 17 September 16.00 - 20.00 - 54 on Bath Boutique Hotel - Sandton In no time at all digital transformation has had an enormous impact on our organizations and business models. And this is just the beginning. How can we understand this digital transformation, and see the financial opportunities and consequences for the business? Join us for this event, and you will find the inspiration, the examples and the knowledge you need to embrace the opportunities technology has to offer. Program 16.00 Opening & Reception 17.00 Private Sector Round Table - What if Steve Jobs led a public entity? The success of a company like Apple is borne of their ability to radically break with today's conventions. Their way of working is not just based on technological shrewdness. Inspiration, creativity and the will to do things differently are equally important in this case. The vision of Steve Jobs opened the doors to a whole new industry and new ways of value creation. What can we as Private Sector CFOs learn from that? With Fikile Mhlontlo, CFO Denel. 17.00 Master Class Planning, Budgeting & Forecasting in the 21st Century Today, many CFOs are turning to rolling forecasts to inspire and lead their organisations to superior performance. Hear experts on the best practices of strategic planning in today’s fast changing world. They will present the latest insights and the CFO research results on technology driven budgeting and forecasting. Also they will discuss the 5 key points of forecasting and how to master the cutting edge tools and techniques and how to integrate budgeting and rolling forecasts with other management systems to ensure to achieve a superior performance. With Zafar Mohamed, CFO McDonalds SA, Armin Moradi, Territory Manager - Financials Oracle, Seldon Goodwin, Solution Architect Ethoss, Desmon Botha, Management Consultant Business Intelligence KPMG, Derik Rothman, Director Futuresense, Carl Janse van Rensburg, Operations Director Intellient and Joël Roerig, Editor CFO South Africa. 17.00 Public Chapter Round Table - What if Steve Jobs led a public entity? The success of a company like Apple is borne of their ability to radically break with today's conventions. Their way of working is not just based on technological shrewdness. Inspiration, creativity and the will to do things differently are equally important in this case. The vision of Steve Jobs opened the doors to a whole new industry and new ways of value creation. What can we as Public CFOs learn from that? With Dumisani Dlamini, CFO National Arts Council. 18.45 Café & 10 things you need to know about Cyber Security Keynote by Nathan Desfontaines, Information Security & Protection & Business Resilience Manager at KPMG. Nathan is a leader in ensuring the success of information security through a combination of business and technical acumen. He is a leading subject matter expert in penetration testing, vulnerability assessments, risk assessments and information security management as well as information security strategy development and implementation. Nathan will update you on the 10 most important things about cyber security every CFO should know but were too afraid to ask. 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. Sign up for the next mind-blowing Fintech Event in Stellenbosch Join the FinTech Africa Event 20 October in Stellenbosch. At this meeting 100 insiders, experts, startups and investors discuss the developments and challenges for FinTech in Africa. Program: 15.30 Welcome and introduction to the African FinTech initiative By Graham Fehrsen, Country Manager CFO South Africa and FinTech Africa 16.05 Big organisations are doomed By Martijn Aslander, international speaker and Dave van Niekerk, CEO GetBucks 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. 17.00 Panel discussion "The future of FinTech in Africa" Startup, bankers, investors and industry insiders discuss the challenges & opportunities for FinTech in Africa. Are we missing out in Africa?This event is organised by FinTech Africa. The ecosystem that connects FinTech startups, investors, corporates and advisors. Join the next Fintech event in Stellenbosch and register now for Tuesday 20 October - 15.30 - 19.00. 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 Events in 2015 Sept 17 Johannesburg | Digital Transformation 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" 09 September 2015 It was announced earlier today that Anglo American Platinum has sold three of its labour-intensive, loss-making platinum mines to Sibanye Gold for some R4.5 billion ($331 million). Sibanye, South Africa's biggest gold producer, will pay R1.5 billion upfront, and the balance over the next six years. 09 September 2015 Accountants can save the world, Prof. Mervyn King recently told me. In an interview that will be published in our upcoming CFO Magazine, the celebrated South African - who changed the face of corporate governance around the world - was quick to emphasise that this would not happen by writing reports, however integrated they may be. It is the thinking that needs to be changed. "If integrated thinking becomes common, we can have a sustainable planet by the end of the century," King predicts.Listing at the NYSE - a chat to Megan Pydigadu (MiX Telematics)
Altech Autopage shutdown progresses
David Hartnett: systemic corruption has a detrimental effect on tax compliance
Relief for consumers: max interest rates revealed
Uber and WesBank sign R200 million deal
Old Mutual Wisdom Forum - learning from entrepreneurs
ABInBev and SABMiller reach an agreement
Aon CFO dinner report: fleet management, headache or big data opportunity?
Newsletter: A chat to Woolworths CFO Reeza Isaacs | SA heading for the fiscal cliff | MTN CEO resigns
Will Telkom be successful in buying Cell C?
Event 19/11: what can CFOs learn from entrepreneurs?
Zuma among world's best-paid presidents
David Jones, B-BBEE and success, a chat to Woolworths CFO Reeza Isaacs
MTN trying to reduce $5.2 billion fine
MTN CEO resigns
Virtual data rooms essential for M&A - Arie Maree, Ansarada
SA heading for the fiscal cliff
Total injects $20 million into Zimbabwe
Thundafund CEO Patrick Schofield sees role for crowdfunding in FinTech
Facebook revenue surges; user numbers continue to grow
Newsletter: Why Standard Chartered CFO moved to Telesure | SA at risk of further credit rating downgrades | Call for Speakers - Finance Indaba Africa 2016
Nigerian Communications Commission slaps MTN with a hefty fine
Exclusive: why Standard Chartered CFO Jo Pohl moved to Telesure
SA's trade deficit drops dramatically
Gatekeeper and brand ambassador - Discovery Health CFO Brett Tromp
Standard Bank opens Ethiopian office
Don't miss the Oracle Cloud Day on 24 November 2015 - register now!
Is a VAT rate increase needed? Judge Dennis Davis weighs in
SA at risk of further credit rating downgrades
Everything FinTech start-ups need to know about the Barclays Techstars accelerator
SAP Business One - Improving total cost of ownership efficiencies
PetroSA selling off equity in its offshore blocks
Newsletter: Clean books and clean streets: Suren Maharaj at Pikitup | Cliff Baty new Man United CFO | China invests big in Africa
Cliff Baty new Man United CFO
Call for speakers now open - Finance Indaba 2016
Mxit shuts up shop
Clean books and clean streets: Suren Maharaj at Pikitup
China invests big in Africa
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
Adapt IT buys CQS Technology Holdings for R217 million
Newsletter: Mervyn King: tax also in need of integrated thinking | CFO McDonalds from scenario planning to integrity | Think globally & grow up - successful FinTech event
Goodwell invests in FinTech startup, Nomanini
Think globally & grow up - successful FinTech event in Cape Town
47.41% Stake in Capricorn Fund Managers bought by Anchor Group
From scenario planning to integrity, a chat with McDonald's SA CFO Zaf Mahomed
New JSE listing: Stor-Age
FinTech entrepreneurship 'tough, painful and unhealthy', says Perry Blacher
Mervyn King: tax also in need of integrated thinking
Optimising performance now key for local CFOs, says Deloitte
FinTech is consumer-driven revolution, says GetBucks CEO Dave van Niekerk
Telkom separates out a new entity: Openserve
Fintechs don't realise own arrogance, says Paul Steenkamp (Standard Bank)
Newsletter: CFO Howden becoming a net exporter of talent | AB InBev to buy SABMiller for R1.4 trillion | African FinTech businesses conquer the world
Pick n Pay profits up by 23%
Meet South Africa's FinTech rock star, Tobie van Zyl
From the MD: Perspective - an elusive but important career guide
Breaking news: AB InBev to buy SABMiller for R1.4 trillion
Nkonki hosts lively CFO dinner with audit standards expert Dan Montgomery
Becoming a net exporter of talent - Kevin Johnson, CFO Howden Africa
Sibanya acquires Aquarius Platinum; companies' share prices soar
Next FinTech disruptor is African, says Techstars director Greg Rogers
Cash in, cash out - the amazing Fundamo journey
Renewable energies attract R192 billion in foreign investment
Barclays Africa launches FinTech startup community
South African CFO goes global - an interview with Ray Leclercq (Unit4)
SAICA top35under35 announced
African FinTech businesses can conquer the world, says IDM's Benay Sager
Newsletter: Denel CFO under investigation | AB InBev makes 3rd offer to SABMiller | The future of investing in FinTech
AB InBev makes third offer to purchase SABMiller
CFO South Africa now on Facebook
South Africa's problem with illegal money transfers
Suren Singh, Morvest Business: 'superstar' CFO leading the change
Colin Vallis: attitude change financial institutions crucial for Afican FinTech
SA exports drop, trade deficit increases
Expert Insight - How cultural and social factors impact your business in Ghana
Denel CFO, CEO and Group Company Secretary under investigation
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
Newsletter: CFO of the Week - Bongani Nqwababa, Sasol | Nampak targets 100% share in Angolan market | SA property market slows
Exclusive CFO Dinner with world-renowned audit expert
Business leaders weigh in on the impact of global megatrends
Nampak targets 100% share in Angolan market
The Crisis Manager, Sasol CFO Bongani Nqwababa
SA property market slows
Tax Indaba: parliament looks at 'creative ways' to increase tax base
Mozambican expansion for Engen
$400 million investment in SA solar thermal plant
Lessons from a successful exit: iKubu bought by Garmin
Strikes cost South Africa R6 billion in 2014
Newsletter: CFOs are myth busters | CFO event dives deep into Planning, Budgeting & Forecasting | Revered FirstRand CEO Sizwe Nxasana steps down
MTN Zakhele first BBBEE scheme to list on JSE
KPMG expert talks cyber security
Food giant Kellogg expands into Africa
CFOs are myth busters, says retiring Standard Bank CFO Simon Ridley
Brait sells bonds worth $540 million to fund acquisitions
IP theft, extortion and interuption - a new generation of cyber risks
Stenprop CFO says a move to the JSE will come soon
Revered FirstRand CEO Sizwe Nxasana steps down
Planning, budgeting and forecasting CFO Master Class sparks lively audience debate
Inspiring CFO event dives deep into Planning, Budgeting & Forecasting
MillerCoors CFO Gavin Hattersley named CEO
Newsletter: CFO BCX - Guiding Telkom-acquisition BCX through the storm | Tax watchdog Ngoepe demands more independence | Sasol CEO: company is in good shape
CFO Shabeer Khan achieves clean audit for DTI
From the MD: You can't buy experience
VW CFO Hans Dieter Pötsch becomes Board Chairman
Lawrence Weitzman - Guiding Telkom-acquisition BCX through the storm
Smile Telecoms brings internet to Africa
Dumisani Dlamini - 5 ways public sector CFOs can get a clean audit
Sasol CEO David Constable says company is in good shape
Bidvest profits up, company eyes African expansion
Tax watchdog Bernard Ngoepe demands more independence
Fitch Southern Africa cancels registration
Newsletter: 9 potential investment sectors in Ghana | CFO Eskom: "Exposure the key to career development | Change management adds or destroys value
Amplats sells Rustenburg mines to Sibanye for R4.5 billion
Editorial: Integrated reporting vs. saving the world
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