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“As a finance team we can bring our own products into the conversation with our business partners and our customers, by talking about how we do things at Microsoft.” Discussions about finance transformation and the evolution of the CFO can sometimes sound theoretical and dry – not so with Paul Marten, Finance Director at Microsoft South Africa. Using the same tools that his famous firm is selling, he embodies the outward looking finance leader of the 21st century.

Bikash Prasad has already been incredibly successful in restructuring and growing Olam International's business in Southern and Eastern Africa, notably striving to employ and develop as many local talents as possible. Recently the first hour supporter of CFO South Africa was promoted to Senior Vice President and CFO for the whole of Africa, still based out of Durban. We asked him 5 questions - here are his answers.

Elon Musk, the Pretoria-born innovator and business magnate, has decided to open a South African office – and possibly even factory – sometime this year.

Proteas grow in tough terrain and a lot of patience is required before seeds can be harvested and sown again. There are surprising parallels with the growth of black accountants in South Africa – and with Edson Magondo’s own rise to prominence, as we discover during an exclusive interview with the man who heads the KPMG service offering for government, infrastructure and healthcare.

Daniel Mminele, Reserve Bank deputy governor (pictured), says the weaker rand and market volatility seen thus far this year have "complicated" monetary policy.

CFO South Africa Newsletter | Thursday 14 January Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles How to achieve a clean audit, an interview with CFO Shabeer Khan (t... In an exclusive interview with CFO South Africa, Shabeer Khan (CFO the dti), explains how he and his dedicated team managed to achieve a clean audit. Somewhere in Pretoria there is a big government department where the financial statements reported are of the highest quality, supply chain management legislation is adhered to and wasteful expenditure is a thing of the past. In September the Minister of Trade and Industry proudly announced that the dti had just received a clean audit for the 2014/15 financial year. He also deservedly deflected much of the praise to CFO Shabeer Khan and his highly committed team. Previous winners join judges CFO of the Year 2016 Celebrated CFOs Simon Ridley (Standard Bank) and Deon Viljoen (Alexander Forbes) will be joining the panel of judges that will be interviewing and adjudicating the nominees for the 2016 CFO Awards. Simon was crowned CFO of the Year at the inaugural CFO Awards event in 2014 and Deon won the coveted title at last year's black tie extravaganza. CFO South Africa is also delighted to welcome Discovery Health CFO Brett Tromp, winner of both the Young CFO of the Year and High Performance Team Award in 2015, to the panel Gordhan puts SARS revamp on hold Recently appointed finance minister Pravin Gordhan has instructed Tom Moyane, South African Revenue Service (SARS) commissioner (pictured), to halt the implementation of his restructuring plans, pending an assessment of its implications by the minister. Read more exclusive articles on CFO.co.za - MTN acquires rival Nigerian operator, Visafone - Allan Gray gives controlling stake to charity - From the MD: Building a community of practice for CFOs in 2016 - 2016 surge anticipated for Bitcoin - Apple to cut production of iPhone 6S & 6S Plus - Matthew Birtch (Gibs): what African FinTech entrepreneurs can learn... - SA shows November trade surplus RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Summer Place - Sandton We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? Speakers: Specialists from KPMG, Oracle & WNS. Panel: Bikash Prasad, CFO Olam International, Belinda O'Neill, Executive Finance MTN & Sean Doherty, CFO IB Standard Bank. 16.30 Public Sector round table smart government Being able to provide an outstanding service and experience to citizens is an important task for governments around the world. Not only does it make for happy citizens but it also saves costs, time and improves the morale of civil servants. Restoring citizens' confidence in public institutions means demonstrating competence in providing better value for their hard-earned tax money. What can finance teams in government do to improve agility and customer focus? How can you allocate scarce resources to ensure critical tasks are assured but your organisation remains forward looking and customer centric. Facilitated by KPMG - with Edson Magondo, Director KPMG. 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Visit Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. Finance Indaba Africa is the biggest annual expo and conference for finance professionals. It brings together peers technology suppliers, platforms, banks, tools, specialists, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. Gain unparalleled insights. Cut costs dramatically, send sales & productivity through the roof and boost your company's profits by 100 percent. RSVP NOW HERE. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Partners 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. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected]. Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Recently appointed finance minister Pravin Gordhan has instructed Tom Moyane, South African Revenue Service (SARS) commissioner (pictured), to halt the implementation of his restructuring plans, pending an assessment of its implications by the minister.

Celebrated CFOs Simon Ridley (Standard Bank) and Deon Viljoen (Alexander Forbes) will be joining the panel of judges that will be interviewing and adjudicating the nominees for the 2016 CFO Awards. Simon was crowned CFO of the Year at the inaugural CFO Awards event in 2014 and Deon won the coveted title at last year's black tie extravaganza. CFO South Africa is also delighted to welcome Discovery Health CFO Brett Tromp, winner of both the Young CFO of the Year and High Performance Team Award in 2015, to the panel.

Despite the large, $3,9 billion fine imposed on it by the Nigerian Communications Commission (the matter still in court), MTN has proceeded with its planned acquisition of rival network operator, Visafone Communications.

In an exclusive interview with CFO South Africa, Shabeer Khan, chief financial officer of the Department of Trade and Industry (the dti), explains how he and his dedicated team managed to achieve a clean audit. Somewhere in Pretoria there is a big government department where the financial statements reported are of the highest quality, supply chain management legislation is adhered to and wasteful expenditure is a thing of the past. In September the Minister of Trade and Industry proudly announced that the dti had just received a clean audit for the 2014/15 financial year. He also deservedly deflected much of the praise to CFO Shabeer Khan and his highly committed team.

Allan Gray and family have given their entire stake of the business – a controlling stake – to a charitable foundation. The family’s stake in the company’s offshore partner, Orbis, was also included. The move ends more than 40 years of family control of the company.

In my first 100 days as the MD of CFO South Africa I have been struck by the number of incredible professionals that make up the South African finance eco-system. Finance professionals who reach the top rung, regardless of whether they work in large listed entities, private companies, the public sector or any number of public, academic or non-profit organisations, have by and large arrived there on the back of their finance skills (to state the obvious). But what has struck me most is how many of these professionals are good people too. The very best are filled with humility, courage, conviction, an appropriate dose of vulnerability and very often a clear sense of purpose.

According to business daily the Nikkei, it is expected that Apple Inc will decrease production of its iPhone models by some 30% in the January-March quarter, due to a surplus of existing stock.

FinTech will fail without broadband access, says management consultant and Gibs academic Matthew Birtch. In an exclusive interview with FinTech Africa, he speaks about the role of formal education in developing the FinTech space and what local entrepreneurs can learn from China. "A big advantage of the Chinese FinTech market is that there is room for experimentation."

According to the South African Revenue Service (SARS), South Africa showed a trade surplus of R1,77 billion in November, including BLNS trade – trade with Botswana, Lesotho, Namibia and Swaziland. This was due to exports of R94,66 billion and imports of R92,89 billion.

CFO South Africa Newsletter | Thursday 7 January Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles How can the CFO avoid saying no in 2016? With some questionable political decision making, a struggling national currency and sombre messages from rating agencies pouring in, South African businesses can be forgiven to be a bit apprehensive about 2016. In the middle of it all the CFO has shifted its role from number cruncher to business partner, but with pressure around slowing growth increasing there is the danger of reverting back to the old naysayer role. How does the CFO avoid saying no in 2016? Zuma says SA must work harder in 2016 In his New Year's message to the citizens of South Africa, President Jacob Zuma said that while progress has been made in various aspects, such as student funding, medical care, social grants and international participation, among other sectors, "more hard work awaits us all in 2016 as challenges still remain". SA assets abroad surpass inflows For the first time ever recorded, the rand's slump led to the value of South African assets abroad surpassing foreign investment into the country. Read more exclusive articles on CFO.co.za - Omnia CFO Wayne Koonin on turnaround strategies and digital transfo... - Agoa agreement on shaky ground - Exclusive - Prof Mervyn King: "CFOs critical for integrated thinking" - 2016 surge anticipated for Bitcoin - Steady growth for government pension fund - SAP Business one from 4Most provides seamless integration, data int... RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Summer Place - Sandton We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? Speakers: Specialists from KPMG, Oracle & WNS. Panel: Bikash Prasad, CFO Olam International, Belinda O'Neill, Executive Finance MTN & Sean Doherty, CFO IB Standard Bank. 16.30 Public Sector round table smart government Being able to provide an outstanding service and experience to citizens is an important task for governments around the world. Not only does it make for happy citizens but it also saves costs, time and improves the morale of civil servants. Restoring citizens' confidence in public institutions means demonstrating competence in providing better value for their hard-earned tax money. What can finance teams in government do to improve agility and customer focus? How can you allocate scarce resources to ensure critical tasks are assured but your organisation remains forward looking and customer centric. Facilitated by KPMG - with Edson Magondo, Director KPMG. 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Visit Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. Finance Indaba Africa is the biggest annual expo and conference for finance professionals. It brings together peers technology suppliers, platforms, banks, tools, specialists, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. Gain unparalleled insights. Cut costs dramatically, send sales & productivity through the roof and boost your company's profits by 100 percent. RSVP NOW HERE. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Partners 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. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected]. Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

For the first time ever recorded, the rand's slump led to the value of South African assets abroad surpassing foreign investment into the country.

With some questionable political decision making, a struggling national currency and sombre messages from rating agencies pouring in, South African businesses can be forgiven to be a bit apprehensive about 2016. In the middle of it all the CFO has shifted its role from number cruncher to business partner, but with pressure around slowing growth increasing there is the danger of reverting back to the old naysayer role. How does the CFO avoid saying no in 2016?

In his New Year's message to the citizens of South Africa, President Jacob Zuma said that while progress has been made in various aspects, such as student funding, medical care, social grants and international participation, among other sectors, "more hard work awaits us all in 2016 as challenges still remain".

“Business grows and finance improves through a focus on systems – that is my thesis,” says Wayne Koonin, group finance director at Omnia. With 15 years of turnaround experience in the mining industry and a small team of trusted advisors in tow, he recently joined the South African chemicals group and identified digital transformation as the lever to “take the business to the next level”.

The United States is on the cusp of suspending South Africa from the African Growth and Opportunity Act (Agoa), a trade programme that benefits 39 Sub-Saharan African nations by removing import levies on more than 7,000 products.

“My grandson Daniel, who calls me ‘judge’ like many other people, recently said ‘Judge, you are always in airplanes, you must have a big carbon footprint?’ He also asked me if I recycle all the paper I use. And that was coming from an eight-year-old!” Not only is Prof Mervyn King’s anecdote endearing, the former Supreme Court judge and global governance guru also makes a good point; even an eight-year-old knows that the world is changing. “It will be a disaster if companies don’t start thinking in an integrated way.”

Bitcoin, a form of digital currency both created and held electronically, while pegged by many as the digital currency of the future is also thought to be too volatile an investment. However, it seems 2016 will be a good year for Bitcoin, largely due to slower growth in the money supply, and a supply-demand dilemma. Bitcoin’s price has almost doubled over the past three months, and it is heading for its best quarter in two years.

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The Government Employees Pension Fund (GEPF) has released its annual report for the 2014/2015 financial year, showing steady growth and a sustainable investment strategy.

CFO South Africa Newsletter | Thursday 31 December Dear CFO South Africa Member, We wish you all a happy New Year. May the New Year bring you greater hights of success and prosperity. Read Exclusive CFO South Africa Articles What do CEOs think about their CFOs? KPMG report no comfortable read IT and talent management are a crucial part of a modern CFO’s job, but often the finance leaders fall short. Global experience is paramount for a high level CFO and the role of the finance leader will increase in significance over the next three years. Those are some of the conclusions of KPMG’s View from the Top report, which surveyed over 500 executives from six continents. Kinya Kimotho, CFO Nielsen Africa: moving to risk-based management There is great value for CFOs and FDs to meet each other and share notes, says Kinya Kimotho, finance director for Africa at international market research firm Nielsen. “When you look at different industries and companies, there is commonality in problems and challenges. How do we tackle that as CFOs? How can our companies grow fast? I would love to talk to peers about it.” Expert Insight: what CFOs need to know about investing in Ghana In this Expert Insight, our business advisor in Ghana, Eric Osei, talks CFOs through some investment considerations for international businesses that want to set up shop in the West African country. He outlines the natural resources, investment incentives and advantages of doing business in Ghana. Read more exclusive articles on CFO.co.za - Zimbabwe adopts Chinese yuan currency - Joburg gets an improved credit rating - Investec acquires R623-million Australian property investment - Ratings upgrade for Cell C - Brics New Development Bank a reality - Nuclear power procurement process initiated - Exclusive: Treasury ace Dalu Majeke goes home to help the Eastern Cape RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Summer Place - Sandton We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? Speakers: Specialists from KPMG, Oracle & WNS. Panel: Bikash Prasad, CFO Olam International, Belinda O'Neill, Executive Finance MTN & Sean Doherty, CFO IB Standard Bank. 16.30 Public Sector round table smart government Being able to provide an outstanding service and experience to citizens is an important task for governments around the world. Not only does it make for happy citizens but it also saves costs, time and improves the morale of civil servants. Restoring citizens' confidence in public institutions means demonstrating competence in providing better value for their hard-earned tax money. What can finance teams in government do to improve agility and customer focus? How can you allocate scarce resources to ensure critical tasks are assured but your organisation remains forward looking and customer centric. Facilitated by KPMG - with Edson Magondo, Director KPMG. 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Visit Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. Finance Indaba Africa is the biggest annual expo and conference for finance professionals. It brings together peers technology suppliers, platforms, banks, tools, specialists, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. Gain unparalleled insights. Cut costs dramatically, send sales & productivity through the roof and boost your company's profits by 100 percent. RSVP NOW HERE. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Partners 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. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected]. Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

According to the department of energy, South Africa has started a process that could lead to it adding as much as 9,600 MW of nuclear power to the national grid. Cabinet has given the go ahead to issue a request for proposals from the nuclear industry, which would be put to the cabinet for approval before a request for formal bids was issued.

Since 2009 he was CFO at the National Treasury and in 2014 he even scooped up a CFO Awards nomination. Recently, Dalu Majeke has moved back to the Eastern Cape and joined the provincial treasury as head of department. “It is Buyelekhaya - ploughing back to home - for me," says Dalu, a staunch supporter of CFO South Africa, during this exclusive interview. Working at the National Treasury "was a game changer in my career", he says, but now it is time to help improve the Eastern Cape achieve "proper resource allocation and sustainable service delivery".

Restructuring at Cell C, which would see the company's debt reduced by more than 50%, to less than R8 billion, may also result in the provider receiving a ratings upgrade from Standard & Poor’s.

There is great value for CFOs and FDs to meet each other and share notes, says Kinya Kimotho, finance director for Africa at international market research firm Nielsen. “When you look at different industries and companies, there is commonality in problems and challenges. How do we tackle that as CFOs? How can our companies grow fast? I would love to talk to peers about it.”

Zimbabwe, a country still struggling with the after-effects of a recession that spanned almost a decade, and which forced the government to abandon its own currency, has adopted the Chinese yuan as legal tender in exchange for debt cancellation worth some $40 million.

In this Expert Insight, our business advisor in Ghana, Eric Osei, talks CFOs through some investment considerations for international businesses that want to set up shop in the West African country. He outlines the natural resources, investment incentives and advantages of doing business in Ghana.

JSE-listed Investec Australia Property Fund (IAPF) has announced its most recent acquisition: An A-grade, nine-storey office building with ground floor retail, situated in Newcastle, New South Wales. The acquisition has a price tag of some R623.45 million (Aus$56.7 million), and brings the value of the fund’s total portfolio close to R7 billion.

IT and talent management are a crucial part of a modern CFO’s job, but often the finance leaders fall short. Global experience is paramount for a high level CFO and the role of the finance leader will increase in significance over the next three years. Those are some of the conclusions of KPMG’s View from the Top report, which surveyed over 500 executives from six continents.

While South Africa on the whole may not be faring too well as far as credit ratings are concerned, the City of Johannesburg has plenty to celebrate following Fitch Ratings' upgrading of its national long-term rating.

CFO South Africa Newsletter | Thursday 24 December Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Nkonki wins award and global respect - 5 questions for Mitesh Patel Earlier this month, Nkonki’s managing partner Mitesh Patel received a prestigious award from the Kreston International network at a conference in the Brazilian city of Rio de Janeiro. Nkonki is an incredibly ambitious South African audit, assurance and advisory firm with around 40 partners and directors and 400 staff. We spoke to Mitesh about the award, Nkonki’s thought leadership in integrated reporting and the drive to land JSE-listed firms as clients. "We are passionate about earning global respect." Technology - Key enabler in a changing world “The role of technology has never been more critical,” says Marius Fabian, MD of 4most, a leading supplier and implementer of SAP Business One and ERP software and technology to the South African and African small and medium sized marketplace. The need to respond to changing market demands, enabled by access to real-time and accurate information, is key. Abbie Lundberg presents a new leadership model for digital business "Digital is about exploiting information at speed for business use," opines Abbie Lundberg, President of Lundberg Media. Lundberg was addressing the crowd at the recent Oracle Cloud Day. Read more exclusive articles on CFO.co.za - ArcelorMittal CEO Paul O’Flaherty resigns - SABMiller and Coca-Cola join forces - Treasury addresses ratings concerns - Jovan Grujic, PISU & Co: restructuring to draw investors and pr... - Brics New Development Bank a reality - Advisory banks selected for SABMiller JV - Recruit the best CAs at the Finance Indaba Africa RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Summer Place - Sandton We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? Speakers: Specialists from KPMG, Oracle & WNS. Panel: Bikash Prasad, CFO Olam International, Belinda O'Neill, Executive Finance MTN & Sean Doherty, CFO IB Standard Bank. 16.30 Public Sector round table smart government Being able to provide an outstanding service and experience to citizens is an important task for governments around the world. Not only does it make for happy citizens but it also saves costs, time and improves the morale of civil servants. Restoring citizens' confidence in public institutions means demonstrating competence in providing better value for their hard-earned tax money. What can finance teams in government do to improve agility and customer focus? How can you allocate scarce resources to ensure critical tasks are assured but your organisation remains forward looking and customer centric. Facilitated by KPMG - with Edson Magondo, Director KPMG. 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Visit Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. Finance Indaba Africa is the biggest annual expo and conference for finance professionals. It brings together peers technology suppliers, platforms, banks, tools, specialists, CFOs and thought leaders. Over 5,000 visitors tap into a wealth of resources, knowhow and inspiration. Gain unparalleled insights. Cut costs dramatically, send sales & productivity through the roof and boost your company's profits by 100 percent. RSVP NOW HERE. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Partners Announcing the CFO Awards 2016 panel of judges CFO South Africa is currently in the process of selecting the members of the panel of judges who will choose the winners from a shortlist of nominated CFOs. With the selection of the panel of judges the importance of the CFO Awards for the business community at large is reflected. More judges will be announced on CFOAwards.co.za. The first panel members are; - Simon Ridley Group CFO Standard Bank & winner CFO of the Year 2014 - Carel Smit, Executive Committee member KPMG - Deon Viljoen, Group CFO Alexander Forbes & winner CFO of the Year 2015 - Aarti Takoorden, CFO JSE & winner Young CFO of the Year 2014 - Victor Sekese CEO SizweNtsalubaGobodo - David Fine Managing Director of McKinsey - Delphine Maïdou,CEO Allianz Global Corporate & Specialty Africa - Jonathan Lang, Practice Partner and Head of Africa Bowman Gilfillan - Christo Els, Partner Webber Wentzel - Ben Marx Vice-Chairperson Accountancy Department UJ - Claudelle von Eck, CEO The Institute of Internal Auditors SA - Brett Tromp, CFO at Discovery Health & winner Young CFO of the Year 2015 Join the CFO Awards 2016 Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected]. Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

China Resources Beer (Holdings) has chosen which banks will advise on options for its Chinese brewery joint venture with SABMiller. According to reports, HSBC Holdings Plc, Nomura Holdings Inc., Rothschild and UBS Group AG, have been chosen as advisory institutions ahead of the deal.

Earlier this month, Nkonki’s managing partner Mitesh Patel received a prestigious award from the Kreston International network at a conference in the Brazilian city of Rio de Janeiro. Nkonki is an incredibly ambitious South African audit, assurance and advisory firm with around 40 partners and directors and 400 staff. We spoke to Mitesh about the award, Nkonki’s thought leadership in integrated reporting and the drive to land JSE-listed firms as clients. "We are passionate about earning global respect."

In his recent, end-of-year statement, President Jacob Zuma confirmed that the Brics New Development Bank is indeed happening. "The New Development Bank, whose establishment was announced at the fifth Brics Summit in eThekwini, is now a concrete reality," President Zuma said.

“For a Kenyan company like ours, the competition is nowhere and the room for growth is enormous,” says Jovan Grujic, CFO of the diverse, family-owned group PISU & Company. The Serbian money boss has had some great successes during his career in Europe and now wants to cut his teeth in a real growth market. “I was seeing growth in Asia and Africa and decided to be part of it. I want to be here while it happens, not afterwards. It is a big challenge but very rewarding.”

South Africa’s Treasury has pledged to focus on debt stabilisation in the medium term. This following Moody’s Investors Service's recent cut of its outlook on South Africa from 'stable' to 'negative'.

"Digital is about exploiting information at speed for business use," opines Abbie Lundberg, President of Lundberg Media. Lundberg was addressing the crowd at the recent Oracle Cloud Day.

The Competition Commission has reportedly given preliminary approval to SABMiller and Coca-Cola’s proposed deal to combine their operations, which currently mix, bottle and distribute soft drinks across the African continent.

Knowing how and when your business is impacted by a changing marketplace – and the ability to respond

Paul O’Flaherty (pictured), CEO of ArcelorMittal, South Africa's largest steel maker, has resigned with effect from 12 February 2016. O'Flaherty cited personal reasons for the decision.

CFO South Africa Newsletter | Thursday 17 December Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Pat Semenya: taking ACCA to next level in South Africa “I want to double our number of members and students, bring back members we have lost and instil a real passion for ACCA,” says Pat Semenya, who is heading up ACCA South Africa since August 2015. After years at Nestlé, Pat felt it was time for a job that could really make a difference.“Economic transformation is not completed in this country and I want to contribute positively to that.” Nene fired from post as SA's finance minister Many were shocked at last night's announcement of South African Finance Minister Nhlanhla Nene's (pictured) sacking by President Jacob Zuma. In a seemingly unanticipated move, Zuma has appointed David van Rooyen into this post instead, saying simply that Nene will be deployed elsewhere. Finance Indaba hosts finals of The CFO Case Study Competition The cream of the crop of Africa's aspiring CFOs and business leaders will be competing for a prize of R100,000 during the global finals of The CFO Case Study Competition, hosted at the Finance Indaba Africa 2016. With entries for participants closing in March 2016, we spoke to organiser Valentine Nti, CEO of organiser CharterQuest Institute about the way CFOs, corporate sponsors, professional bodies, universities and business talents of 25 years and younger can get involved. Read more exclusive articles on CFO.co.za - PetroSA CFO Lindiwe Mthimunye Bakoro's relieved of her duties - Nqwababa and Cornell appointed as joint-CEs of Sasol - Oliver Mwita, DHL Express Kenya: promoting integrity is role of CFO - Use big data to grow your business, says Uber's Dave Kitley - AMG acquires equity stake in Abax Investments - Van Rooyen's out, Gordhan's in as SA's finance minister - Recruit the best CAs at the Finance Indaba Africa RSVP CFO Event "Get Smart in 2016" Tuesday 23 February 16.00 - 20.00 - Johannesburg We invite you to join us for the CFO South Africa event Get Smart in 2016 - Move like a butterfly - sting like a bee. How can we improve the agility and resilience of your organisation in volatile and uncertain times? How do you create flexibility and ensure your scarce resources are allocated to the most critical tasks? Join us as we consider the options available to CFOs in creating agile, flexible and responsive finance functions and organisations. Finance functions that are 2016 and 2017 ready and are able to deliver superior value to the business. Program 16.00 Opening & Reception 16.30 Master Class - Move like a butterfly, sting like a bee Do you sometimes wish you could be as fast and flexible as a startup? Without losing the strength and stability of a well established corporate? Let’s investigate and discuss if and how we can make this possible! The answer should be somewhere in the way we align our People, Process and Technology. Some questions to consider: Is BPO the answer to flexibility? It might offer us the solutions to time, accuracy, transparency and business partnering challenges. What about the possibilities of new technologies like cloud solutions? Or is the answer in the way we manage people? 16.30 Round Table discussion - Get Smart in 2016 This exclusive get-together will offer you the unique opportunity to share your vision and ideas with 10 CFOs from South Africa’s top companies. Join us as we discuss how CFOs can play a more active role encouraging radical new thinking while setting the tone in their own environments? 18.00 CFO Café Interact, learn, connect and discuss the challenges that you are facing with your peers over a drink at the CFO Café. Build your network and meet other top CFOs and financials. We offer you a great afternoon of peer to peer discussions and knowledge sharing. Register here now. Sponsors CFO South Africa Event: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Select your bank at Finance Indaba Africa Visit the Finance Indaba 13 & 14 October at the Sandton Convention Centre and boost your profits by 100%. What is your bank doing and what else is there in the market? Which banks are leading the way? Is there a better option for your business? What should you know when considering financing options? Which banks will partner with you moving into Africa? Who will back your innovation and growth? At Finance Indaba Africa you will discover the latest insights, discuss trends and meet some of Africa's leading bankers. Customers of South African banks have high levels of complaints, with many people complaining about bad service. Opening a bank account is South Africa is time consuming. South African banks are amongst the most expensive in the world charging monthly fees, internet banking fees and commission on payments. But they are there: finance providers that go the extra mile. Select your bank at Finance Indaba Africa. We are calling for speakers Are you enabling businesses to cut costs, boost sales, productivity and company profits? Don't miss out the chance to connect with new prospects, to brand your company and to become more successful. Share your ideas at the Finance Indaba and help the country grow. Please contact Graham Fehrsen at [email protected] or at +27 11 083 7515. Also read more about the call for speakers and see the latest Business Day advertisement. Diamond Partners Announcing the CFO Awards 2016 panel of judges CFO South Africa is currently in the process of selecting the members of the panel of judges who will choose the winners from a shortlist of nominated CFOs. With the selection of the panel of judges the importance of the CFO Awards for the business community at large is reflected. More judges will be announced on CFOAwards.co.za. The first panel members are; - Simon Ridley Group CFO Standard Bank & winner CFO of the Year 2014 - Carel Smit, Executive Committee member KPMG - Deon Viljoen, Group CFO Alexander Forbes & Winner CFO of the Year 2015 - Victor Sekese CEO SizweNtsalubaGobodo - David Fine Managing Director of McKinsey - Delphine Maïdou,CEO Allianz Global Corporate & Specialty Africa - Jonathan Lang, Practice Partner and Head of Africa Bowman Gilfillan - Christo Els, Partner Webber Wentzel - Ben Marx Vice-Chairperson Accountancy Department UJ - Claudelle von Eck, CEO The Institute of Internal Auditors SA - Brett Tromp, CFO at Discovery Health & winner Young CFO of the Year 2015 Join the CFO Awards 2016 Buy a table for the CFO Awards and meet 300 of South Africa's leading CFOs. Demonstrate thought leadership, extend your network and develop business. You are seated with CFOs and finance directors from the top companies of South Africa. You are also more than welcome to join the CFO Conference preceding the CFO Awards dinner with your colleagues. Join us Thursday 12 May 2016 at the beautiful Summer Place. Don't wait too long, first come, first served. Become a partner or attend with your finance team and buy a table here. For more information check out CFOAwards.co.za. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, Alexander Forbes Standard Charered Bank, Hollard, Absa, Servest, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2016 Feb 23 Johannesburg | Get Smart in 2016 Mar 16 Johannesburg | Moving into Africa in 2016 Apr 6 Johannesburg | Capital & Finance May 12 Johannesburg | CFO Awards 2016 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected]. Stay connected with CFO South Africa Follow CFO South Africa on Twitter, LinkedIn and Facebook Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica, LinkedIn and Facebook. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Graham Fehrsen Managing Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

PetroSA's Group CFO, Lindiwe Mthimunye Bakoro, who was suspended and placed on special leave a few weeks ago, has officially been relieved of her duties, effective 30 November 2015.

The cream of the crop of Africa's aspiring CFOs and business leaders will be competing for a prize of R100,000 during the global finals of The CFO Case Study Competition, hosted at the Finance Indaba Africa 2016. With entries for participants closing in March 2016, we spoke to Valentine Nti, CEO of organiser CharterQuest Institute about the way CFOs, corporate sponsors, professional bodies, universities and business talents of 25 years and younger can get involved.

Bongani Nqwababa (pictured) and Stephen Russell Cornell have been appointed as joint-president and chief executive officers at Sasol. Nqwababa, a previous CFO South Africa Award winner, is currently CFO of Sasol. Cornell is the executive VP of international operations.

“The role of the CFO is to promote integrity,” says Oliver Mwita, chief financial officer of DHL Express in Kenya. We spoke exclusively to the experienced finance leader, who has previously held positions at Deloitte, Nation Media, Gateway Broadcasting, Muthaiga Country Club, Nakumatt and Frigoken. We chatted to Oliver about his career, the challenges for CFOs in Kenya and his advice for young, ambitious accountants who want to make it in Nairobi – and the world.

After last week's surprising announcement that well-respected finance minister Nhlanhla Nene was being replaced by little-known David van Rooyen, comes another surprising, albeit very welcome, announcement that Pravin Gordhan (pictured) will instead take over as finance minister.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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"

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

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.

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.

"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.”

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

Virtual data rooms 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.

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

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.

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

Facebook, 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.

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"

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.

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."

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.

“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."