Nominee CFO Awards 2015, Cobus Grove, CFO Digicore


Cobus Grove is nominated for the CFO Awards 2015. The factsheet below together with his interview with the panel of judges will be used to determine the CFO Award winners 2015.

Cobus Grove
Chief Financial Officer

Nationality: South African
Age: 31
CFO Since: September 2013


  • 2004 - 2006: Deloitte - Trainee Accountant

  • 2007: Deloitte - Technical Accountant Manager

  • 2008 - 2009: Innovation Group - Exco - Executive Finance

  • 2009 - 2011: University of Johannesburg - Accounting consultant

  • 2011 - 2013: EY - Associate Director Financial Accounting Advisory Services

  • 2013 - Present: Digicore - CFO


  • BCom (cum laude)

  • BCom (Hons)

  • CA (SA)

Additional Information
Accountancy SA - LEAD: 35-UNDER-35 1 AUGUST 2014
Cobus Grove 32, CFO of DigiCore Holdings
In 2013, Cobus Grove was appointed as CFO and Group Financial Director of DigiCore Holdings Ltd, which is listed on the Main Board of the JSE. Cobus has the responsibility of finance and business processes for the group that has an international footprint of more than 50 countries.
Cobus has again been appointed as a member of the SAICA Accounting Practices Council after serving on the committee for a period of three years previously. He is also head of Accounting on SAICA's Examinations Committee (Examco), which is responsible for setting the Board's papers. Along with writing articles for Accountancy SA magazine, he has also presented various SAICA seminars. He has also lectured on the SAICA Thuthuka programme through UJ for a period of three years.

CFO of DigiCore Holdings
Cobus Grove, CFO of DigiCore Holdings, says he breaks out of the stereotypical mould of an accountant by refusing to wear a grey suit. Cobus completed his training contract at Deloitte and remained with the firm for a as manager specialising in the application of IFRS, also being seconded to SAICA where he managed rolling out Statement of GAAP for SMEs and doing training courses on behalf of SAICA. Cobus then moved to the Innovation Group (subsidiary of a UK-listed entity) where he was appointed as the executive of the Finance Department. During this period Cobus was also appointed to the SAICA APC committee for a period of three years as well as continued lecturing the Accounting Honours programme of the National School of Accounting .

He then decided to move to the University of Johannesburg as a senior lecturer in the Accounting Honours programme. Here he learnt one of the greatest lessons of his life. After one of his students tragically passed away, the family requested Cobus to be a speaker at the burial ceremony where he also got the opportunity to see where his student studied. He was shocked to find the student had shared a room with four other family members, studied by candle light in the evenings, and drove a taxi over weekends to support his family along with his own battle of fighting of a terminal illness.

"During the ceremony it became very clear that this student was seen by his family and his community as an advocate for education inspiring all to get the best qualification possible. The thing that struck me most about this particular student was how positive he always was and that I can't remember a single moment were he did not smile! To face his pressure of doing his honours, being the breadwinner in his family and dealing with a terminal illness and still be able to have that remarkable outlook on life is nothing but inspiring!"

Cobus was then appointed as associate director at EY specialising in the interpretation and application of IFRS for a period of two years. DigiCore Holdings Limited, a company listed on the main board of the JSE, then approached Cobus to become the group CFO / financial director where he is responsible for the entire finance function of the entire group that has an international footprint in more than 50 countries.

His ultimate way of relaxing after a stressful day is taking his boys to the park and letting them impress him on the jungle gym.

Digicore Holdings Limited
Employees: 1000
Listed: JSE
Sector: Technology
Industry: Hardware

DigiCore Holdings Limited designs, researches, develops, manufactures, sells, and supports GPS/GSM fleet management and vehicle tracking solutions primarily in South Africa and internationally. It provides various vehicle tracking solutions, including Ctrack Insure, a monitoring and tracking system that offers proactive alerts in the event of battery or tracking-unit tamper or border approach; Ctrack Insure Protector for tracking and monitoring with smart collision and security; Ctrack Secure, which provides Internet-enabled access to view vehicle movements; and Ctrack Secure Protector, a satellite vehicle tracking solution. The company also provides fleet management solutions, such as Ctrack Lite, an entry level vehicle tracking and fleet management system providing driver behavior information and full status reports, such as over speeding, harsh braking, and excessive idling; Ctrack Assist for the tracking and management of light commercial, sales, FML, car rental, and security vehicles, as well as trailer fleets; OBDII Fuel Reader, which provides fuel economy data assisting small and large fleet operators to manage fuel related costs; Ctrack Solo, a mobile solution for the tracking and management of the professional hauler, logistics and supply chain management, mobile workforce management, public transport, and emergency services applications; Ctrack On-the-Road, an onboard system that helps fleet operators in saving time and money through advanced navigation, task management, messaging, optimal routing, voice functionality, and driver behavior; and Ctrack Multi-comms. In addition, it offers Ctrack Wireless, a re-deployable tracking system. The company provides its products for private vehicles and small fleet, medium to large fleet, heavy duty, and transport, as well as asset tracking, monitoring, and revenue management. DigiCore Holdings Limited was founded in 1985 and is headquartered in Centurion, South Africa.

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Additional Information

DigiCore Holdings Limited Announces Consolidated Unaudited Earnings Results for the Six Months Ended December 31, 2014
DigiCore Holdings Limited announced consolidated unaudited earnings results for the six months ended December 31, 2014. For the period, the company reported revenue of ZAR 450,747,000 against ZAR 428 193,000 a year ago. Earnings before interest, impairments, taxation, depreciation, amortization and capital items were ZAR 64,466,000 against ZAR 67,254,000 a year ago. Operating profit was ZAR 33,211,000 against ZAR 27,336,000 a year ago. Profit before taxation was ZAR 29,712,000 against ZAR 22,134,000 a year ago. Profit attributable to owners of the parent was ZAR 26,585,000 against ZAR 19,681,000 a year ago. Diluted earnings per share were 10.69 cents against 8.21 cents a year ago. Net cash from operating activities was ZAR 49,717,000 against ZAR 58,047,000 a year ago. Purchase of property, plant and equipment was ZAR 23,075,000 against ZAR 18,790,000 a year ago. Movement in intangible assets was ZAR 15,000 against ZAR 23,758,000 a year ago. Headline earnings per share were 9.37 against 8.23 a year ago. - 26th February 2015

Digicore optimistic after shake-up
VEHICLE tracking group Digicore said on Thursday it remained "cautiously optimistic" that financial results would continue to improve following a better performance for the six months to December. In 2013 Digicore went through a comprehensive review that included a change of management and its "understanding" of the costing of products and internal controls and accounting for deals. With costs now under control and internal processes being enhanced daily, "management is left with the single task of increasing the revenue of the group", it said. - 27th February 2015

DIGICORE: Pushing sales
AT FIRST GLANCE, vehicle tracking and fleet management technology solutions provider DigiCore appears to have lost some of its turnaround traction in the second half to June.
Interim profit after tax of R21m or earnings of 8.2c/share was whittled down to profit after tax of just R8m and headline earnings of 5.23c/share for the full year. But it appears DigiCore took it on the chin in the second half, recording adjustments that are not likely to be incurred again. These include additional provision for bad debts of R57m, impaired deposits of R9m and impaired stock of R33m. Perhaps a better measure of DigiCore's operational performance is that net operating cash flow of almost R150m was generated for the year — equivalent to around 60c/share. - 2nd October 2014

Meet up with the nominees and other top CFOs at the CFO Awards 2015

On May 14, 2015 the annual CFO Awards will be held at the beautiful Summer Place in Johannesburg. This prestigious event recognises CFOs of listed companies, large corporations, parastatals and government institutions and awards them for outstanding performance and leadership. Chaired by Vusi Thembekwayo, over 250 CFOs share knowledge, extend their network and boost business.

CFO South Africa invites you to buy a table at the CFO Awards, attend the CFO Conference, join the panel of judges and become our partner. Places are limited, so book now to avoid disappointment. For more information or email Jurrien Morsch at [email protected]

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