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“CFOs need to be drivers of strategy. We need to look beyond financial reporting and management accounts and actually get involved in driving our businesses. At Transnet, we feel that the CFO is the the strategic enabler of the business. We feel that those in the profession from both public and private sectors should work together to drive economic growth in the country,” said Transnet CFO Garry Pita.

The South African Institute of Professional Accountants (Saipa) has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Brooks Mparutsa (pictured), executive director of Hollard’s international business, has said that the insurer has “significant acquisitions” planned on the continent in the coming years, and would be partnereing with New York Stock Exchange-listed Cigna, a global hearlth insurer, to offer health insurance to companies working in Africa. Hollard already has offices in Zambia, Namibia, Mozambique, Botswana and Ghana, as well as South Africa.

Six European cities attract 70% of all investments in European private FinTech companies.

Jason Wright, CFO of Cape Union Mart, took an unusual route to get where he is today. Having finished matric, Jason went into gainful employment in the IT space before going on to study information systems, also gaining experience in web development and project management. It was only in his mid-twenties that the commerce bug really bit.

In a deal that has sent shockwaves through both online and brick-and-mortar industries, Amazon.com has said it will acquire Whole Foods Market for $13.7 billion. According to Bloomberg, Amazon has agreed to pay $42 a share (in cash) for the organic-food chain.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. 1. Apple Bank here we come Guys, it's happening. Did you miss the news? You probably did, because the announcement was tucked in between demos of the latest iMessage stickers. Millennials... sigh. At the annual developer conference WWDC, Apple announced their next move into the world of Financial Services. If you thought Apple Pay was as far as they would go, you were mistaken. Sorely mistaken! 2. Amazon, Whole Foods, and the Future of the (Old) New Economy I heard the news today, oh boy — Amazon is buying Whole Foods Market in a deal worth nearly $14 billion. The combination of these iconic companies, both of which have come of age in the last two decades, raises obvious questions. Does the transaction reflect how hard it’s been for Whole Foods to keep Wall Street satisfied with its growth and profits? (It does.) Does the deal underscore just how expansive a vision Jeff Bezos has for Amazon, his dream of it becoming the “everything store”? (No doubt.) 3. Why accountants need to get a grip on blockchain By strict definition, blockchain is a global digital ledger of economic transactions that is transparent, continually updated by countless users, and considered by many as almost impossible to corrupt or hack. But in the broader sense, blockchain is also a lightning rod for highly charged opinion, confusion, and even fear. Some argue that blockchain will completely transform finance, accounting, and auditing. Others are decidedly more circumspect regarding its impact. And a certain segment is nervous, not knowing whether blockchain will make portions of the accounting profession obsolete – perhaps large ones, specifically as it relates to the current audit and tax practices focusing on compliance. 4. CFOs Still Spurning High-Return Projects Modern finance theory says that as long as an investment earns a rate higher than the cost of capital, it creates value for a firm. Thus, when the hurdle rate exceeds the cost of capital, a firm is passing up value-creating projects, explains John Graham, professor of finance at Duke University. 5. 5 Leadership Mistakes Even the Best Bosses Make If you think your boss is some freak of nature and you're the luckiest person alive, I'll break it to you gently: He or she is human and will make mistakes. The great ones rise up from their errors by A) acknowledging they made a mistake and correcting a behavior (think humility), or B) acknowledging a blind spot that needs to be addressed, then doing something about it. Lets dive into a few prevalent leadership mistakes that even the best and smartest leaders tend to make. 6. How artificial intelligence can deliver real value to companies After decades of extravagant promises and frustrating disappointments, artificial intelligence (AI) is finally starting to deliver real-life benefits to early-adopting companies. Retailers on the digital frontier rely on AI-powered robots to run their warehouses—and even to automatically order stock when inventory runs low. Utilities use AI to forecast electricity demand. Automakers harness the technology in self-driving cars. 7. How Can You Tell Someone Has True Leadership Skills? Look for This ... Ever been in an important meeting where a topic on the agenda causes tension that you can cut with a knife? Instead of colleagues speaking up to solve an issue, you get poker faces and eyes looking down to avert what nobody wants to deal with. The same is true when it comes to having those tough conversations to call someone to the carpet. We procrastinate or avoid the confrontation, because it's never pleasant, for example, to tell someone she's not cutting it. So when people ask me, "What's the secret to great communication?" my usual response baffles some, because it can seem so counterintuitive: "Be radically transparent." 8. The benefits of thinking like an activist investor The rapid growth and influence of activist investors has many executives nervously looking over their shoulders. Even large companies are increasingly vulnerable (Exhibit 1). But there is a benefit to be had by those managers with the courage to take as hard a look at their own company’s performance as a performance-minded outsider might. The objective isn’t necessarily for managers to do what activists would do—activists’ performance is mixed, after all (Exhibit 2). Instead, the goal is for managers to examine their own strategy, governance, and operations with an eye to unearthing opportunities to improve performance. 9. How To Write A Work Email When You’re Really Pissed Off Just don’t. But if you absolutely must, do it like this. 10. Top 10 tips for great teamwork Doing great teamwork or being an inspirational team leader are terms we often hear bandied in our workplace or perhaps in the plethora of management aid books now available. Leader, player, server of teams – we all have a part to play. Yet, how well are you playing your part? In the first of a new series of articles by global job board CareersinAudit.com, Simon Wright, operations director, provides a top 10 teamwork checklist.

Treasury Technologies has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and dealmakers about the homework a growth-hungry company needs to do. “You cannot over-plan,” says Arie Maree, Ansarada Managing Director for Africa and the Middle East. “Once the rubber hits the road with a deal, there are tight timelines, plenty of stress and lots of money at stake. More planning means a smoother due diligence and ultimately, a smoother transaction,”

Abigail Mukhuba (pictured), the current CFO of African Rainbow Minerals (ARM), has been appointed FD, with effect from 11 December 2017. Mukhuba replaces outgoing FD, Mike Arnold, who reaches ARM’s retirement age of 60 in July.

This year’s CEO Outlook, released by KPMG, has revealed that 68 percent of CEOs see disruptive forces as an opportunity, not a threat, for their business. The CEO Outlook is based on in-depth interviews with 50 CEOs of some of the country’s largest companies.

JSE-listed African Oxygen (Afrox) has appointed Matthias Vogt (pictured) as its new CFO and executive director. Vogt, who joined Afrox as finance GM in July 2015, will replace outgoing CFO Dorian Devers, from 1 August this year.

Durban-based investment firm Multiply Group has acquired 35% of newly formed Crossfin Technology Holdings, part of the Capital Eye Investments’ portfolio, which owns stakes in several companies in the FinTech space.

During the first roundtable session of the June CFO Summit, South Africa's leading financial executives learnt operational strategies to cut costs and optimise their businesses, so as to retain their levels of productivity and maintain their organisations’ competitiveness.

“You can use your office space to create happier and more productive staff by making sure that you're providing a space that makes them feel engaged, empowered and fulfilled,” said Craig Hean, MD of JLL Sub-Saharan Africa, who was speaking yesterday at the CFO Summit.

With the purse strings in their hands and the demands of their board, stakeholders and personal lives, CFOs face numerous pressures, especially in the current volatile market. The latest CFO Summit equipped them for survival and future success.

With more than 5 000 visitors tapping into a wealth of resources, knowhow and inspiration and gaining unparalleled insights, not only was Finance Indaba 2016 a golden opportunity to meet others in the industry, network with peers and speak to professional organisations and training institutions, but it also offered neatly segmented paths and programmes for visitors to get the best out of the event.

It can be easy to lose sight of the end goal in the helter-skelter world of finance, as you are bogged down in interminable meetings, email overload and organisational bureaucracy. While meeting your obligation to drive business efficiencies, your personal productivity may take a hit. Here are five productivity hacks to help streamline your own processes.

South African food company Tiger Brands announced today that its deputy chairman, Bheki Sibiya, would be stepping down at the end of June.

Kenny Fihla was recently made CEO (he was, until then, deputy CEO) of Standard Bank’s Corporate and Investment Banking division. He shares with young finance professionals some personal pearls of wisdom for success. “Organisations are desperate for leaders and leaders are really tested in that kind of way – who is always willing to step out of the ordinary and to venture into the unknown?”

“The single most important thing that CFOs need to keep in mind in the years that lie ahead is how best to cut costs and drive efficiencies, ensuring that their businesses are sustainable in a difficult, low-growth environment,” said University of Pretoria Chancellor Wiseman Nkhulu.

South African FinTech Entersekt has received a multi-million-dollar cash boost to fund its global expansion.

Ben Ngubane (pictured) has resigned as non-executive director and chairperson of the board of Eskom with immediate effect. Lynne Brown, Public Enterprises minister, made the announcement late last night.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

DocFox has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

“As a leader, you should create an environment that allows for growth in the team and for people to feel passionate about the work that they do,” says Fabian Naidoo, divisional CFO of non-profit organisation (NPO), Right to Care (Rtc). Fabian is currently also acting as finance director of the RtC Group. Fabian says his philosophy about work can be summed up by this quote from Steve Jobs, ‘The only way to do great work is to love what you do’.

KPMG won two prestigious accolades at the recent Private Equity Africa Awards 2017 (PEA Awards): Global Financial Advisor and Single Deal Advisor.

South African cement-maker PPC has reported an astonishing 93% plunge in full-year earnings after enduring a liquidity crisis following a cut in its credit rating to junk status by S&P Global Ratings.

At the turn of the year, futurist Craig Wing wrote a piece where he postulated an increase in three seemingly unconnected developments all aligned with the central tenant of trust and transparency in a connected world. As we approach the middle of the year, Craig has updated it, adding local context particularly within the changing landscape of credit downgrades.

Communications Minister Ayanda Dlodlo announced during a cabinet meeting late last week that Dondo Mogajane (pictured) has been appointed the new director general of National Treasury. Cabinet has approved the appoinement.

Kenny Fihla (pictured) has been appointed Chief Executive of Standard Bank’s Corporate & Investment Banking (CIB) division, effective immediately. Kenny takes over from David Munro, who will be fulfilling the role of CEO at Liberty, also part of the Standard Bank Group.

Successfully merging companies is no small feat. Walter Leonhardt, award-winning FD of Coca-Cola Beverages South Africa, talked a group of CFOs through Coca-Cola’s journey of ‘continuous improvement’. “Authenticity is key because it plays on trust. If you want to win the trust of employees, you have to be authentic. You’ve got to do what you say you’re going to do, and follow up on what you say you’re going to follow up on,” the seasoned finance executive said.

London remains the powerhouse of global FinTech, despite concerns over Brexit and the upcoming UK elections. Some 31 London-based FinTech firms are featured in the annual Fintech50 report, which lists the best startups in the space as decided by industry leaders including Microsoft and Samsung. The number has increased from 29 in 2016 and the list includes seven more London-based startups than it did in 2015.

CFO Summit #3 on 14 June 2017 at the Summer Place in Johannesburg’s Hyde Park continues our efforts to bring the very best CFOs and experts together for exceptional learning and networking.

South Africa-based retail group Steinhoff International has reported a 13 percent rise in half-year operating profit, along with a 48 percent increase in revenue. This as recent acquisitions bolstered sales.

Gaining access to the C-suite isn’t the end game for executive development. In many ways, it is just the beginning, as you seek to make your mark in a field of a higher calibre and plug the knowledge gaps you may have overlooked on your way to the corner office. Here are four soft skills that will make you stand apart from your peers.

Dorian Devers has resigned as CFO of JSE-listed African Oxygen (Afrox), effective 31 July. He is relocating to New Zealand to pursue opportunities outside Linde Group AG, the holding company of Afrox.

Telecommunications giant and South Africa’s biggest fixed-line telephone group Telkom delivered pleasing results for the past financial year, including a rise in headline earnings by 12,4% that saw its shares jump by more than five percent immediately after the presentation in Midrand on Monday.

“CFOs are the custodians of capital and capital drives a lot of decision-making. Many people don’t look beyond the bottom line, but beyond the economic realities, there are socio-economic issues. CFOs need to start focusing on how they can use capital and explore synergistic opportunities to address not just company issues, but those of the broader community,” said Clover finance boss Elton Bosch, who is widely regarded as one of the leading CFOs in the country.

As one of the foremost financial institutions on the continent, Standard Bank has been making great things happen in Africa for over 154 years. The bank currently operates in 20 countries on the African continent, including South Africa, as well as in other selected emerging markets, and employs more than 54 000 people across its 1 221 branches. CFO South Africa is pleased to have retained such a prestigious diamond partner for Finance Indaba 2017.

DA leader Mmusi Maimane has laid several charges on various individuals, including Eskom CFO Anoj Singh (pictured right with Transnet CFO Garry Pita at the 2017 CFO Awards), in the wake of the leaked Gupta emails.

Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced that it led an $80 million Series E investment in India-based Swiggy, an online food ordering and delivery platform in India. Ashutosh Sharma, head of investments in India for Naspers, will join the Swiggy board. The investment will help to bolster Swiggy’s growth plans and demonstrates Naspers commitment to help Swiggy become the undisputed leader in food ordering and delivery across India.

“You only have one chance for a first impression. I am always respectful but I never confuse respect with blindly following others,” says National Treasury CFO, Silindile Kubheka. We have tried to unpack the remarkable metamorphosis of the National Treasury CFO from a shy, quiet serial student to a leadership powerhouse with strong views on boardroom dynamics, youth development and ways to professionalise government.

The CFO Forum has said it is “deeply concerned” by the decision to introduce mandatory audit firm rotation (MAFR) for South African business.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

i-Pay has joined Finance Indaba 2017 as a silver partner and will make its second showing at the event at the Sandton Convention Centre in October.

“Everyone has a different way of thinking about FX and settling and hedging their FX and we must solve and understand for each of these,” says Richard de Roos, Head of Foreign Exchange for the Standard Bank Group. In this, the second article in a series from Standard Bank specialists, Richard talks about forex trends in Africa, what Standard Bank is doing to stay ahead of the pack, and what CFOs should expect in this arena.

Barclays has announced the sale of its Zimbabwe bank to Malawi-listed First Merchant Bank, as the British lender continues to exit Africa.

The Public Investment Corporation (PIC), Vodacom Group’s second-largest shareholder, has said it will vote in favour of the R34.6 billion takeover of Kenya’s Safaricom. The PIC holds a 15.63% interest in Vodacom Group.

Gautam Gupta, Uber head of finance, has announced that, come July, he will no longer be with the international ride-hailing company. Instead, he will be joining another San Francisco-based startup as COO. Gupta’s moves comes as several other top Uber officers have left the company this year.

Website CFO.co.za welcomed 18,444 visitors in the month of May 2017, a new record for the online hub for finance executives. Posts about the 2017 Finance Indaba Africa and the 2017 CFO Awards were among the best read, along with this news article about the recently announced collaboration between accounting bodies SAICA and CIMA.

Researchers from the London Business School have found that encouraging employees to keep from showing positive or negative emotions will drag down their performance and that of their organisation. On the other hand, workers who feel that they are able to express themselves freely in the work environment tend be more productive, innovative and creative. Corporate leaders have a vital role to play in creating this sort of workplace environment. “What emotions and experiences are allowed, encouraged and supported and how does this impact an organisation’s strategic priorities such as innovation?” asks Michael Parke, Assistant Professor of Organisational Behaviour at London Business School. “When people are invested in their jobs, they can get upset or frustrated with things but they should be able to share those emotions so it doesn’t stymie their work or creativity.”

Did someone cancel the FinTech revolution or has it just been delayed? That's the question posed by a new report on the UK scene, which argues that new entrants have failed to lure customers from incumbents and that VC money has started to dry up. Over the last few years, the FinTech hype machine has been in overdrive, with a digital revolution promising to change market structure, radically improve products and services, and save the high street veterans from sliding into invisible utilities.

CFOs of two of The Netherlands most famous retailers have received CFO Awards during a celebratory ceremony at the end of CFO Day, a full day of learning and networking attended by 500 Dutch finance executives in the coastal town of Noordwijk. The awards went to Jeff Carr (pictured left) of Ahold Delhaize and Ron Hemmer (pictured below) of Hunkemöller.

After posting a 6.3 percent rise in half-year profit, food company Tiger Brands said that it will pull focus back onto middle-income consumers in its home market of South Africa.

KPMG is a leading global professional service company and one of the "Big Four". Established in 1987 with headquarters in Amsterdam, KPMG employs 189 000 people, offering financial audit, tax, and advisory services. The firm, which is frequently cited as one of the best places to work and build a career, was also a diamond sponsor of CFO South Africa's Finance Indaba extravaganza in 2016.

CFO South Africa is all about networking and gaining knowledge from peers. The CFO community is a worldwide one and we pride ourselves on our ability to bring you relevant insights that can assist you in furthering your personal aims and those of your organisation, no matter the sector in which you operate. Here are four pieces of advices from the CFOs of leading global companies.

Standard Bank corporate and investment banking (CIB) CEO David Munro (pictured) has taken over as CEO of Liberty in the wake of Thabo Dloti’s unexpected departure. Standard Bank holds a 54 percent share in Liberty.

Intellection has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Tongaat Hulett reported a 45 percent rise in full-year earnings on Monday, as higher export prices and improved local prices gave the South African sugar producer a jab in the arm.

TFG, the holding company of fashion chain, Foschini, has announced that it will be acquiring menswear group, Retail Apparel Group (RAG). TFG is the latest retailer to enter the Australian market.

South African FinTech company, Entersekt has won the Judges' Choice: Best Technology Provider at the fourth Banker Africa East Africa Awards held recently at a gala dinner in Nairobi. In April, the firm won the award for Best Mobile Security Technology in the 2017 Banker Africa Southern Africa Banking Awards for the second year in a row.

Net1 founder and CEO Serge Belamant (pictured) will retire at the end of this month, marking the end of what is almost a 17-year tenure at the company. CFO Herman Kotzé, who has been with Net1 for more than 18 years, will take over from Belamant as of 1 June. Kotzé will stand as both CEO and CFO until a new CFO has been appointed.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

PowerMani has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and deal makers about the homework a growth-hungry company needs to do. “The due diligence report is often just used to tick the box and the findings are not adequately translated into the pricing and sale and purchase agreement,” says Karin Hodson, Partner and Transaction Services Leader at Deloitte. Failure to undertake adequate due diligence can result in significant erosion in value and potential losses of customers, staff and everything in between, she adds.

South African insurer Discovery has announced a joint venture with two Australian companies to create a health insurance brand and to expand the footprint of its behaviour tracking programme. The players are Australia’s largest life insurer, AIA Australia, and non-profit health and care company, GMHBA.

Former Massmart executive Grant Pattison (pictured) has been appointed Edcon CEO, his primary aim to assemble a new board with retail experience and hopefully pull the struggling retail group out of the doldrums.

SAICA and The Association of International Certified Professional Accountants (the Association) have joined forces to advance the accounting profession in South Africa by broadening access to their professional qualifications and resources.

In these tough economic times, many CFOs are looking for ways to increase productivity and cut costs to maintain their organisations’ competitiveness. If you are one of these finance chiefs, you simply can’t afford to miss out on the third CFO Summit of the year on 14 June 2017 at the opulent Summer Place in Johannesburg’s Hyde Park.

South African media and e-commerce giant Naspers has continued its expansion into the FinTech and cryptocurrency space by putting $5 million behind Philippines-based startup Coins.ph. The investment was facilitated by Naspers’ Ventures division.

TFG, whose diversified retail footprint covers 3,328 outlets in 34 countries, has overcome difficult trading conditions to deliver 11.6 percent retail turnover growth (R23.5 billion March 2017 year-end).

Cassel & Co has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

South African hotel and casino operator Tsogo Sun reported an increase in full-year earnings in a results presentation on Wednesday, as new hotel acquisitions offset disappointing gaming earnings.

The chairperson, a board member and the CFO are leaving JSE-listed Lewis Group. Lewis said in a statement that David Nurek, Lewis chairperson, had advised the board that he plans to retire after serving as a director and chairman since the group’s listing on the JSE in 2004. Les Davies, who has served as the group’s CFO and financial director since 1989, advised the board that he would be stepping down as CFO and as an executive director of the group. Davies will continue to serve as CEO of the group’s short-term insurer, Monarch Insurance.

"Companies are now required by governments and stock exchanges to be transparent about their sustainability performance for all stakeholders, including investors, to see and evaluate," writes Stephane Bello, Executive VP and CFO at Thomson Reuters.

You may feel that years of hard work may be enough to break the glass ceiling and join the ranks of the financial elite in the corner offices and upper echelons of management, but you’d be better off thinking more strategically about your skills development plan. Being technically proficient in your job is a prerequisite for advancement, not the manna you need to propel upward. The simple truth is that companies prize certain skills above others and this Here are three that if consciously developed, are likely to see you go all the way from open-plan anonymity to the boardroom.

CFO South Africa has the privilege of boasting Deloitte as a trusted partner. The headline sponsor of the CFO Awards 2017 earlier this month, Deloitte is the largest of the Big Four global professional services networks. Deloitte has more than 244 000 professionals at member firms delivering services in audit, tax, consulting, financial advisory, risk management, and related services in more than 150 countries and territories. Revenues for fiscal year 2015 were $35.2 billion.In 2016, Fortune magazine ranked Deloitte as one of the 100 Best Companies to Work For[and Bloomberg Business has consistently named Deloitte as the best place to launch a career.

Following a robust recruitment process in evaluating external and internal candidates, Pioneer Food Group, the South Africa-based food and drinks group, has appointed Felix Lombard as its new CFO. Cindy Hess held the CFO role until late 2016, a tenure which saw her nominated for the 2016 CFO of the Year Awards.

Wayne Koonin, CFO of Omnia, led a strategy to implement a new, company-wide ERP system and IT platform as a basis for taking the business to a new level. For this, Wayne won the Finance & Technology Award at the recent CFO Awards, held on 11 May at Summer Place in Johannesburg.

FinTech unicorn Transferwise says the company has reached operational profitability six years after launch. The London-based currency exchange startup says it is currently amassing £8 million a month in revenue and is on target to reach £100 million for the year.

“I am operationally focused and have good attention to detail and follow up. If there is a problem I determine immediately what the issue is and address and follow up with management and hold them accountable,” says Melanie Chong, FD of Oakbay Resources and Energy Limited, a company in the business of mining and exploration of energy-related resources. Oakbay mines coal for the local market and owns one of the largest uranium resources in the world. It also mines gold as a by-product at its uranium mine. We caught up with Melanie to talk about her role at Oakbay.

The Washington-based International Monetary Fund (IMF) has raised its forecast for economic growth in South Africa. It forecast growth of one percent for South Africa this year, up from the 0.8 percent prediction made in April.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

At the recent CFO Awards, held on 11 May at the stunning Summer Place in Johannesburg, Debbie Ransby of pharmaceutical firm Takeda Africa walked away with the Moving into Africa Award, received largely because of her change management work in Egypt, where she faced numerous tough challenges, including diverse cultures and complex business practices.

Digiterra has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

“In South Africa, the full impact of a downgrade to sub-investment status will probably only manifest over the next 12 to 18 months. Companies in strong balance-sheet positons should be cautiously opportunistic and look for value-enhancing acquisitions both in South Africa and abroad. As much as economic conditions may be tough, my view is that we should never let a good crisis go to waste,” says Zaid Moola, Head of Client Coverage South Africa for Corporate & Investment Banking (CIB) at Standard Bank. In this, the first article in a series from Standard Bank specialists, Zaid talks about the trends he is seeing in his area of expertise and offers expert advice for CFOs.

Telkom subsidiary BCX has launched a R60-million partnership with local incubator, WeThinkCode, a tuition-free programme designed to educate new software engineers. The deal will see the South African incubator expand its Johannesburg-based operations and also launch in Cape Town.

EY, in its Africa Attractiveness Index 2017 (AAI 2017), has named Kenya as this year’s second-most attractive investment destination, pipped only by Morocco.

General Motors (GM) has announced its intentions to stop production and sale of its vehicles in South Africa by the end of 2017. GM has denied that the move was influenced by South Africa’s recent credit ratings downgrades and has said it is restructuring its business towards more profitable markets, including the US and China, where it could achieve greater return on investments than in South Africa.

For his diligent and forward-looking approach to risk and audit, Investec CFO Nishlan Samujh went home with the Compliance & Governance Award at this year’s CFO Awards, held on 11 May at Summer Place in Johannesburg.

JSE-listed speciality finance company Capital Appreciation has acquired FinTech firm Synthesis for R132,1 million.

Nexia SAB&T has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Rwanda's telecom industry regulator has fined MTN Rwanda, a division of South Africa's MTN Group, $8.5 million – the equivalent of R112 million – for running its IT services outside the country in breach of its licence. In a ruling posted on its website, the Rwanda Utilities Regulatory Authority said that MTN Rwanda was hosting its IT services hub in Uganda, which it had prohibited.

Transnet CFO Garry Pita won the Transformation & Empowerment Award at this year’s CFO Awards, held on 11 May at Summer Place, Johannesburg, thanks to the massive role he plays in boosting preferential procurement and development of suppliers.

You may be technically proficient in completing your finance duties, but so are many of others who are looking to climb the corporate ladder. Effective presentations and stakeholder communication will set you apart from your peers. Become your go-to person for engaging, informative and enjoyable business presentations that don’t leave the audience nodding off into dreamland and you are sure to see your stocks rise. Here are four tips on deliver more effective business presentations.

The Finance Indaba is a magnet for South Africa's chartered accountant community, and as such, the South African Institute of Chartered Accountants' (Saica) members are well represented. Saica is one of the world's foremost professional accounting bodies. It helps more than 36 000 members in every aspect of their careers.

Vodafone Group is selling its $2.6 billion stake in Kenya’s Safaricom to its majority-owned Vodacom Group. The all-share deal will transfer a 35-percent stake in Safaricom to Vodacom in return for stock in the Johannesburg-based unit. This will raise the parent company’s stake in its South African business to about 70 percent.

Banking is like Formula One, says Valentin Stalf, co-founder and CEO of mobile bank N26. This observation came a day after Valentin returned from the famous Monza race track north of Milan in Italy, where N26 was invited as the Fast Companies Series partner by British Formula One racing team, Manor Racing. “Of course, it was very cool to see our logo there, but when you are on the grid and in the pit lane, you also realise Formula 1 is a big myth,” he says. “Just like banking, people think it is really complex. When you get closer to the action, you realise it is a group of normal people working on cars. We have debunked the myth that banking is very complex.” We chatted to Valentin about the practical steps an entrepreneur needs to take to turn a brilliant idea into a thriving business.

Ramasela Ganda is the first-ever municipal CFO to win at the CFO Awards. In Ekurhuleni Municipality, she introduced state-of-the-art technology and convinced politicians to not only focus the budget on social grants.

Mobile network giant Vodacom announced incremental growth in revenue and profit in the year to end-March in its final results presentation on Monday, despite chopping its rates to offer a more competitive pricing structure to its customers.

JSE-listed internet and entertainment group Naspers has said it will be investing R5.6 billion (€387 million) in Delivery Hero, an online food ordering and delivery company and one of Europe’s biggest startups.

Cipla Sub-Saharan Africa CFO Nishant Saxena received the highly coveted Young CFO of the Year Award, for finance leaders who are 40 years or younger, as well as the High Performance Team Award, at this year's CFO Awards, held on 11 May at Summer Place, Johannesburg.

Local mobile payments startup Karri has partnered with Nedbank for the launch of its app, which facilitates payments for school activities and events.

Philile Nxumalo, GM: Finance, Central Bank of Swaziland, wanted to study Fine Arts, though her father persuaded her to rather pursue a BCom, like her twin brother. Good thing he did, as she’s enjoyed a successful career in finance and finds herself constantly challenged by the fast pace and rapidly changing landscape. “I like the aspects of my job where I have to formulate strategy for the department and translate this into executable plans. It’s a particular strength of mine. I love the thrill of achieving and seeing the results, the execution of strategy – it’s very tangible for me.”

InvoSet has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Asher Bonbot (pictured), a prior member of the CFO Awards judging panel and the founder and CEO of EOH, a large technology services group, has announced that he will be leaving the JSE-listed company at the end of June. Zunaid Mayet has been appointed group CEO to replace him.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

For his executive role in ensuring ongoing success at telecoms behemoth Vodacom, CFO Till Streichert received three awards at this year’s CFO Awards, held on 11 May at Summer Place, Johannesburg. Till walked away with the most coveted award – CFO of the Year – as well as the Strategy Execution and Finance Transformation Awards.

Ngubane & Co has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and dealmakers about the homework a growth-hungry company needs to do. “You don’t always want to let the staff of the other company or companies know you are doing this process,” says Sibanye Gold CFO Charl Keyter. “You have to be stealthy so as not to raise suspicions.” Charl gives one of the best and certainly most amusing explanations of due diligence:

Omnia, through its subsidiary, Omnia Group, has entered into a sale of shares agreement with Lubricant Additives Solutions and Technology and Autumn Storm Investments 294, for 90 percent of the ordinary shares of Umongo Petroleum, for a maximum aggregate acquisition consideration of R780 million. The remaining 10 percent shareholding in Umongo will continue to be held by Autumn Storm, an entity in which the current CEO, Boston Moonsamy, is a shareholder.

The Competition Commission has recommended to the Competition Tribunal that the acquisition of MWEB by Internet Solutions – a subsidiary of Dimension Data – be allowed to proceed. The deal was first announced on 2 December 2016.

KPMG has acquired global FinTech innovation platform Matchi, which connects traditional financial institutions with technology solution providers. The platform includes more than 700 curated FinTech solutions and a database of more than 2 500 FinTech companies.

National carrier South African Airways (SAA) has appointed Phumeza Nhantsi as its new permanent CFO. According to a statement by SAA, Nhantsi has served in an acting capacity since November 2015, following Wolf Meyer’s departure.

Comedian Nik Rabinowitz went down a charm at last night’s CFO Awards 2017, with his incisive wit and improvisational comedy having guests rolling in the aisles throughout the evening.

Hosted by globally renowned public speaker, venture capitalist and entrepreneur Vusi Thembekwayo, yesterday’s CFO master class sought to bring to light the uncomfortable issues about inequality, the real impact of BEE and the prejudices that business leaders still have – be they white or black. Vusi opened the session with some chilling words, saying that one of the greatest lies told about South Africa is that the country had a peaceful transition to a democratic state.

Vodacom's CFO Till Streichert was the big winner at the 2017 CFO Awards, taking home the title of CFO of the Year and adding the coveted Strategy Execution and Finance Transformation awards to his collection for good measure. The annual glamorous celebration of excellence in the finance profession was the biggest, best and brightest edition of the event to date, as the crème de la crème of the country's finance leaders gathered at the stunning Summer Place in Hyde Park, Johannesburg.

Till Streichert, chief financial officer of mobile communications company Vodacom Group, has been named South Africa's CFO of the Year at the 2017 CFO Awards.

Coca-Cola Beverages South Africa has sold 21.5 percent of the Appletiser brand. This includes a 17.5 percent stake that went to black-owned investment firm African Pioneer Group, and a further four percent to Sipho Excellent Madlala, a new entrant black empowerment partner.