Alex Smith, CFO at e4, says innovation is a core priority, and while businesses and CFOs face pressure from a profitability perspective, letting innovation slip could come at a greater risk in the long run.
Alex’s experience in mergers and acquisitions, strategy, risk management and treasury functions has positioned him at the intersection of finance and innovation throughout his career. He is a firm believer that the CFO role today is a broader and more forward-looking one – and the emergence of CFOs as chief value officers reflects this.
The real challenge and opportunity, he reiterates, lies in fostering a culture where smart, calculated risks fuel both growth and sustainable value creation.
“While the traditional role of the CFO is changing and the many hats we wear in today’s business world can be demanding, many find that they can create the most value in a company by focusing more on strategic leadership rather than solely on financial management,” he says.
Alex’s CFO journey began at Altron in 2008, just as the global financial crisis hit. “I transitioned from a group financial management role into the CFO seat. At the time, Altron was a large, family-run conglomerate, and I served as group CFO for 10 years. It was a period of significant transformation, as the business moved from family- led management to a more corporate structure,” he says.
In 2018, he moved to what was then Net1, now Lesaka Technologies, where he spent around five years, initially as group CFO, and also briefly as interim CEO.
“That was a useful experience – it gave me a taste of the CEO perspective, although I quickly returned to the CFO role. The interesting bit was that Lesaka is a US-listed company. So, having done 10 years within the JSE ecosystem at Altron, I then had the chance to work within the US-listed space, which operates quite differently.”
A good fit
After Lesaka, he took a bit of a career break and worked in more fractional CFO-type roles and interim placements, which is how he ended up at e4. He liked it so much, he decided to stay and became permanent in February 2025.
e4 is a specialist technology company specialising in digitalisation, which partners with its clients to solve complex, process-driven challenges by delivering innovative, fit-for-purpose solutions tailored to their unique needs. Using an omni-channel platform approach, e4 offers a suite of secure and scalable digitally-inspired services as well as solutions. With innovation at its core, e4 is committed to delivering cutting-edge technology innovation, while delivering on financial commitments.
“It’s been a really good fit for me in terms of a nice change away from the listed space and all the associated pressures. A private company is slightly less intense with the demands on your time given the extensive structures that are found in a listed environment,” he explains.
The finance function at e4 was well established when he joined, Alex says, which made for a smooth transition. “It’s a traditional CFO role – finance operations and business partnering – but what I really enjoy is how involved I am in the day-to-day workings of the business. In listed environments, your role tends to be more high-level, focused on investor relations, banking partners, board interactions, and so on. Here, while the structures exist, they’re less complex. We have fewer entities, which means I can get into the operational detail and understand how things work from the ground up.”
Alex brings a wealth of experience to his new role. “When you’ve been through similar challenges or structures before, it gives you a head start. You’ve seen it before, you know what works, and you can adapt and apply that knowledge. That cumulative experience really helps.”
Another focus area for him will be strengthening the business partnership side of finance. He adds that finance teams often default to what they know – numbers, reports, reconciliations – but it’s vital to work hand-in-hand with the rest of the organisation. “Finance shouldn’t operate in isolation. We’re a service team, we’re here to support and guide the business.”
All about balance
When asked about challenges along the way, Alex cited tough transitions when he was in the hotseat at both Altron and Lesaka. Both companies were hard hit by adverse events, resulting in high debt levels and reduced cash flows. “If anything, both of those experiences taught me one thing: cash is king. You can talk about revenue and profit, but if you don’t have cash, you’re in trouble. I had a colleague who used to say, ‘Revenue is vanity, profit is sanity, and cash is reality’ – and I’ve held onto that ever since,” he says.
When asked about his work philosophy, Alex said he is a firm advocate for leading by example – ethically, professionally and respectfully. “I’m a big believer in empowering people and not micromanaging. It’s very easy to fall into that control mindset, especially in finance. But I try to give people the space to grow, to take on responsibility and to challenge themselves.”
Alex was born in Kent, south of London and grew up in the UK. He studied law and completed his CA training in Edinburgh. He came to South Africa in 1995 on a two-year secondment with what was then Price Waterhouse.
“Then I met my wife, and 30 years later, I’m still here,” he quips. “So, yes, I consider myself pretty naturalised. My kids, however, still give me grief because I support Scotland in rugby.”
In terms of what makes him tick? “I love reading – mostly fiction, but also some non-fiction and current affairs. I try to stay engaged with geopolitics and world news. I play a bit of golf, weather and workload permitting, try to go to the gym and spend quality time with family,” he says.
Having moved out of the listed space, he has discovered a better work-life balance, he adds. “That’s been one of the best things about joining e4 – having the time and space to enjoy life outside of work. I’ve really enjoyed the journey so far at e4. It’s a great fit for me personally and professionally, and I’m looking forward to what’s next.”
