Most challenges that CFOs of South African banks and financial institutions face are the same as elsewhere in the world, but there are a number of specific issues that plague finance leaders in the developing world and South Africa specifically. That is the message of Kuda Makoni, strategy and innovation manager at Deloitte Consulting. “The South African sector is world class, so it faces global problems,” said Makoni.
On Wednesday Makoni met with CFO South Africa in the Deloitte offices in Johannesburg and he shared some fascinating insights into the South African business world and banks in particular. "CFOs definitely get frustrated when reporting times and access to information are under pressure in their team," he said. "Especially in the current economic climate, where everything is focussed on cost cutting."
The full account of the meeting with Makoni will appear on this website at a later stage and will include his insights into the crucial role of innovation and the tension between investing and cost cutting. He also elaborates on typical challenges in the South African banking world.
In the picture from left to right: Steffie Bosman (CFO South Arica) Makoni (middle) and Alex van Groningen (CFO South Africa).
If you also would like to share your ideas with the CFO community, please get in touch with us to arrange an interview with you. Please contact Jurriën Morsch on [email protected].
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