Sitholile Sithole is a member of the outreach collaboration between CFO South Africa and the Allan Gray Orbis Foundation. This year, he attended his first Finance Indaba and reflects on his experience, which took place at the Sandton Convention Centre.
As a young professional eagerly stepping into the finance industry, attending Finance Indaba 2024 – Africa’s biggest finance conference and expo – was both an exhilarating and transformative experience. This event, renowned for its insightful discussions and networking opportunities, provided a unique platform for my personal and professional growth.
Walking into the buzzing venue with over 3,000 finance professionals, I found the atmosphere electric with excitement and anticipation. As a first-time attendee, I was both thrilled and slightly overwhelmed by the magnitude of expertise and innovation on display.
The event began with the “Numbers Game,” where top CFOs discussed the responsibility and vision behind some of South Africa’s biggest brands. Hearing Nelisiwe (Famous Brands Group FD) reflect on their strategic decisions, challenges, and the overarching vision that guides their financial strategies was nothing short of inspiring. It was fitting to have discussions with the CFO of Kumba Iron Ore, Bothwell Mazarura and Oceana Group’s Zaf Mahomed, centred on environmental, social, and governance (ESG) criteria, sustainability, and strategic future thinking.
These sessions were particularly illuminating, highlighting the crucial role finance professionals play in driving sustainable development. Bothwell emphasised the importance of integrating ESG principles into financial strategies, not just as a regulatory requirement but as a fundamental business practice.
I also enjoyed hearing the story behind the iconic household brand, Lucky Star Pilchards, by Zaf. Having eaten it for decades, it was only at the Finance Indaba that I learnt that each tin contains at least five pilchards, enough to feed a family! Their insights on sustainability opened my eyes to the long-term impact of responsible investing, making me realise that finance can indeed be a force for good in tackling global challenges.
Another impactful session was “Strengthening Accountability,” which focused on enhancing auditing and accounting regulation in South Africa. As a SAICA trainee accountant at one of the big four audit firms, this session took it home for me as it underscored the significance of accountability and transparency in maintaining investor confidence and ensuring the stability of financial markets.
Amid the buzz and anticipation for this session, I queued 30 minutes early to ensure a prime seat. That day, I had the profound honour of meeting the iconic Prof Wiseman Nkuhlu for the first time – truly a monumental moment for me.
Imre Nagy (IRBA CEO), Shabeer Khan (accountant general, National Treasury) and Prof Wiseman Nkuhlu (chairman, KPMG) delved into the intricacies of regulatory frameworks and the critical need for robust auditing practices to uphold financial integrity. Prof Nkuhlu emphasised the importance of effective client-auditor cooperation to ensure quality reporting of the financials.
The personal and professional development gained from attending Finance Indaba 2024 was immense. The event allowed me to broaden my perspective beyond the confines of a specialised viewpoint and engage with the broader finance industry in the understanding of current trends and challenges in the finance industry, and how I, as a young professional, can contribute to its growth and evolution. Networking with industry veterans and peers further enriched my experience, offering opportunities for mentorship and collaboration.
Reflecting on my first finance event, I realise how pivotal Finance Indaba 2024 was in shaping my career trajectory. It reinforced my passion for finance and armed me with the knowledge necessary to navigate this dynamic industry.
For any young professional aspiring to make a mark in finance, attending such events is invaluable, offering a glimpse into the industry’s pulse and a chance to learn from the best in the business.
