Cybersecurity, reputation and watercooler conversations dominate dinner table discussions across the country.
Heeding the call for diversity across the board during Heritage Month, the CFO and CIO communities hosted their first-ever joint dinners, in partnership with MakwaIT, in September – bringing together finance and IT executives from the east and west coasts together.
The gatherings placed CFOs and CIOs who traditionally focused on finances and technology at the same table. Despite their differing responsibilities, the mood at both dinners was notably collaborative, with conversations revealing a surprising alignment on safeguarding reputation and strategies for securing buy-in.
The Cape Town dinner took place at Tryn Restaurant, located on the historic Steenberg Wine Farm, the Cape’s first established farm dating back to 1682. Just 20 minutes from Cape Town’s bustling centre, it provided the perfect setting for the gathering.
In the Mother City, cybersecurity dominated the discussions more than finance. Board members’ growing concerns about the absence of robust cybersecurity plans were a recurring theme.
One CFO noted that cyber-insurance has become a hot topic in boardrooms, covering losses from incidents like social engineering scams and ransomware attacks. The sentiment: “It’s no longer a grudge purchase, but an absolute necessity. It’s not a matter of if, but when,” resonated throughout the room.
Another CFO highlighted that cyber-attackers primarily target anything with monetization potential, particularly credit cards, as vast amounts of personal information are already available. They emphasised that every company will face a cyberattack at some point—it’s just a matter of time.
The conversation then shifted to reputation, with attendees agreeing that today’s leaders must not only protect their organisations from cyber-threats but also safeguard their reputations.
From wine farms to upscale lifestyle centres
In Durban, the dinner was hosted at Signature Restaurant, marking the second supper for Durban’s CIOs, but the first-ever CFO-CIO joint dinner.
The evening’s conversation quickly shifted from casual ice-breakers to boardroom dynamics. One CFO remarked, “If your business is thriving, you’re not necessarily busy in the boardroom. But when a downturn hits, that’s when the real work begins.”
The topic of influence in the boardroom revealed that key decisions often start over informal settings, such as meals outside the office. “Boardroom influence doesn’t happen in the boardroom itself but rather outside of it,” said one guest. They explained that by the time a topic reaches exco, a foundation for buy-in has often already been laid through casual interactions.
Aligning on project buy-in was another key discussion point. CFOs stressed the need for strong business cases and clear ROI before any project is considered. They also stressed the importance of carefully reviewing contract clauses to avoid disputes or legal gaps.
The CFO-CIO relationship was highlighted as crucial, especially when large sums of money are involved. One CIO shared how regular cash flow meetings with their finance team every Friday ensured alignment on spending. “As a CIO, it’s important for me to know when the spend has come through and there’s alignment on that,” they said.
On a lighter note, the highlight of both dinners was the popular ice-breaker game using quiz cards. Guests picked a card, introduced themselves, and answered the question – setting the tone for a night of insightful and engaging conversations.
Those in attendance in Cape Town were:
Douglas McNeilage, MakwaIT
Francois Swanepoel, Oceana Group CIO
Ian Duvenage, MakwaIT Business Development Manager
Lazola Ngqaza, SanlamConnect CIO
Mark Tudor, PicknPay Group CIO
Muhammad Brey, Sea Harvest CFO
Nomahlubi Sonjica, CIO South Africa Community Manager
Reabetswe Rabaji, CIO South Africa Managing Editor
Yunus Mukuddem, Woolworths Head of Finance
Those in attendance in Durban were:
Akesh Bansee, Unilever Vice President: Finance
Chris Kistasamy, Makwa-IT CEO
Desan Pillay, Wits Business School CDO
Eugene Van Der Lingen, Africa Health Research Institute CIO
Hamzah Assmal, Al Baraka Bank GM: Digitalisation
Ian Duvenage, MakwaIT Business Development Manager
Kim Sim, Mr Price Group CIO
Nomahlubi Sonjica, CIO South Africa Community Manager
Pramy Moodley, Sappi CFO
Praneel Nundkumar, Mr Price CFO
Prishendra Venketsamy, IT Risk and Security Manager, Grindrod
Reabetswe Rabaji, CIO South Africa Managing Editor
Rishi Birbal, MakwaIT Chief Strategy Officer
Ruban Naidoo, Ethekwini Municipality IT Manager
Servasen Moodley, Busamed Group Head of IT
Shashika John, Grindrod Group CIO
