Finance leaders at the first CFO Namibia Community Conversation agreed that today’s CFOs are expected to be agile strategists, while warning that persistent skills shortages and changing workforce expectations are making the role increasingly demanding.
The changing role of the chief financial officer and the growing shortage of skilled finance professionals took centre stage at the latest of the CFO Community Conversation, where finance leaders from Namibia and across Southern Africa shared practical insights into leading in an increasingly complex business environment.
Building on the conversations at CFO Day Johannesburg, the event brought together senior finance executives for an evening of candid peer-to-peer discussions on the realities of modern finance leadership.
Speaking during the discussion, Abrie Collard, CFO of Western Investments Group, said the role of the CFO had transformed significantly over the past five years.
“The CFO is no longer the person sitting in the background producing financial statements and ensuring payments are made. Today, finance leaders are strategic business partners who are expected to help shape the future of the organisation,” Abrie said.
He explained that boards and chief executives increasingly expect finance leaders to provide strategic guidance at speed.
Painting the picture
“You no longer have 30 days or three months to build a business case. In many instances, decisions are expected within 30 minutes. That means CFOs must have the right controls, reliable information and the confidence to guide the business quickly.”
Abrie added that CFOs must simplify complex financial information for boards and executive teams.
“It is not about having every answer. It is about painting the picture, presenting the roadmap and creating meaningful discussions that lead to better decisions.”
The shortage of skilled finance professionals emerged as one of the biggest challenges facing Namibian businesses.
Johannes Kotze, head of finance of Choppies Group Namibia, said finding capable finance talent remained difficult, limiting the ability of CFOs to focus on strategic priorities.
“There is a shortage of skills, and finding the right people to do the right work at the right time is difficult. That makes it harder for CFOs to focus on strategy because they often need to become involved in operational detail,” Johannes said.
He also stressed the importance of ensuring employees throughout an organisation understand financial objectives rather than leaving financial performance solely to the finance department.
Finding a balance
Another senior finance leader who joined the banking sector around 18 months ago, said organisations were facing challenges at both ends of the talent spectrum.
She observed that many younger finance professionals were highly ambitious but often wanted rapid career progression without first building the necessary experience.
At the same time, she said many long-serving employees had become highly dependent on internal systems, making it difficult to develop beyond operational roles despite their loyalty and experience.
“We have to find a balance between retaining good people and creating meaningful career progression. At the same time, we also have to adapt to a new generation entering the workforce with different expectations and motivations,” she said.
The discussion concluded that while finance leaders face mounting challenges in attracting and developing talent, the CFO’s influence continues to grow. Today’s finance executives are expected to combine financial expertise with strategic thinking, agility and strong communication skills to help their organisations navigate an increasingly uncertain business environment.
