The new FinTech 2017: China, Asia and Beyond Report, released by CFA argues that, while FinTech companies were usually strong at technology and applications, they are mostly inexperienced in financial sector operations and therefore unlikely to completely replace the more conventional sectors of the financial services industry.

“There was a decrease in the overall size of South Africa’s shadow economy’s share of GDP since 2011; a positive sign that efforts to curb its impact have been implemented in recent years. But that’s the end of the good news, as the future trend is profoundly opposite,” says Pat Semenya (pictured), head of ACCA South Africa.

The Johannesburg Stock Exchange (JSE) has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

EY warns CFOs against over-committing to rapid-growth markets and letting the enthusiasm for using them as the torch-bearer for sustainable long-term growth bubble over. Here are a number of key lessons from the financial services giant that will be applicable for the just about any company and its CFO.

"With us, all clients’ foreign trade payments will be done fast, efficiently and seamlessly through our partner bank and unique online payment and trading platform," says Herman Bezuidenhout, CEO of BeztForex, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

Addressing the July 2017 graduates of the Wits University Faculty of Commerce, Law and Management, Stephen Koseff, CEO of Investec Bank and a Wits University Alumni, said South Africans need to work together and find a new social pact that transcends ideologies and backgrounds, and unite under a common goal to tackle the country’s current and future problems.

Global beverage and snacks giant PepsiCo reported a slight increase in second-quarter revenue and profit, as its vital North American beverages division made gains, amid lower promotional spending and productivity gains.

Agile finance leaders are embracing a new operating model for finance that is responsive and change-ready and are championing digital technologies, while investing in new skillsets to provide the analytical capability for insight and strategic guidance the business requires in adopting new digital business models and ways of working.

"CFOs need to consider the role that digitalisation is going to play in business. The way business is done is going to undergo a fundamental change over the next five years. The next 12 months are going to be critical for organisations that want to digitalise. On a social level, CFOs have to consider the role they play in broader society. Gone are the days when we can sit back and say certain issues are for politicians, government or industry bodies. If you are CFO making decisions, you have a responsibility to play a deeper role in uplifting communities," says globally renowned public speaker, venture capitalist and entrepreneur Vusi Thembekwayo.

The Top 6 teams of the global edition of The CFO Case Study Competition 2017 have been selected. Some 2,300 entries were received this year, including both the CFO Case Study and the Junior National version for South African High Schools.

The rise of the FinTech industry may herald a significant upheaval to the financial services industry, and significant opportunities (and risks) await those who wish to participate.

According to the JSE, a two-year cost-cutting programme could see up to 14 percent of its staff retrenched.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

“Our platform exists to benefit finance professionals, so is designed to be usable and understandable by them. One of the most common comments we receive from CFOs and finance heads is their surprise in how easily they set up the platform and how quickly they began seeing results.” says Therese Tucker, founder and CEO of BlackLine, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and dealmakers about the homework a growth-hungry company needs to do. “Ideally, the CFO shouldn’t only focus on the financials, there needs to be a cross-over. The CFO, along with other execs, can really help to join the dots in a deal,” says Charles Douglas, head of M&A at law firm Bowmans.

The Hollard Insurance Group, South Africa’s largest independent insurance group, has cemented its place as the second-largest short-term insurer with the completion of its R1.8 billion acquisition of the Regent Insurance Group from Imperial Holdings.

Alexander Forbes has announced three key executive appointments: Naidene Ford-Hoon as Group chief financial officer (GCFO), Christian Schaub as Group chief human resources officer (GCHRO), and Thabo Mashaba, who is assuming a new role of Group chief empowerment & transformation officer (GCETO).

South African FinTech ThisIsMe has set a new African record for the Financial Intelligence Centre Amendment (Fica) process. The process used to take as long as two weeks, but can now be completed in as little as three minutes.

Peregrine Holdings has said that, following CEO Jonathan Hertz stepping down as of end June, it has appointed Rob Katz as interim CEO, effective 1 August 2017. Rob was a nominee both this year and in 2016, for the CFO of the Year Awards.

Financial models are a pre-requisite to successfully identify risks, costs, opportunities and income streams. A financial model helps you to become profitable in a continuously changing business atmosphere. 100% of all CFOs agree that working without modelling is close to impossible. A thorough understanding makes your job easier, saves you massive time and will bring prosperity to your business. Not convinced yet?

EOH has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

Modern CFOs is being called upon to take a more prominent role in leading their organisations, in many instances, filling in for the CEO. As such, technical competency is no longer enough to succeed at the elite level and leadership qualities become more significant. We delved into our archives to bring you leadership advice from some top executives from a variety of industries.

Umar Banda, nominated for the 2017 CFO of the Year Awards, has been permanently appointed to the position of City of Tshwane CFO – a role he has filled in an acting capacity since 2014.

In the space of just a few years, Till Streichert, CFO of Vodacom Group and this year's CFO of the Year, turned Vodacom’s finance team into a flourishing intelligence unit. He is a textbook example of a finance executive who used the first 100 days of his tenure to make a swift and decisive impact on his organisation.

Accounting is a profession that lends itself to stereotypes, but there are a few that ring true for most accountants. There are those things that will elicit a knowing smile from accounting professionals across the globe, moan as you might about unfair stereotyping. You know you're an accountant when…

CFOs are an integral part of the corporate engine room. We live in difficult times – look at the conditions in Europe, the USA and back home in South Africa. CFOs have got to understand the heartbeat of their organisations and really feel the pulse, along with being connected to the external world," said Investec CFO Nishlan Samujh.

Audit watchdog, the Independent Regulatory Board for Auditors (IRBA) is investigating whether KPMG defied regulation when it audited a company owned by the Gupta family. This, after reports following an investigation by AmaBhungane and Scorpio revealed that government funds intended for empowerment projects in the Free State were instead used to pay for a Gupta wedding.

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, and Alipay announced that they are launching Alipay in South Africa, via leading regional payment service provider (PSP) Peach Payments.

Originally from Malawi, Loveness Khunou, Dow Southern Africa CFO, moved to South Africa in 1989. She has a passion for cultures and languages, and is fluent in eight different dialects. “It shows respect if you learn another’s language. It shows that you value them,” she says. “It allows you to better engage with people, and people relate to you differently if you talk to them in their Mother tongue.”

Former Finance Minister Nhlanhla Nene (pictured) began his new job today as head of the Wits Business School (WBS). Nene will serve as the business school’s interim director until a new leader can be appointed ahead of the start of the next academic year.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

By focusing only on professionals and clients in these finance and accounting disciplines, we have been able to develop extended networks of talent and have built a thorough understanding of the environments and challenges facing those recruiting finance and accounting teams in a wide range of businesses, from start-ups to corporates," says Georgina Barrick, MD of Cassel&Co, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

“Allow compliance to participate in front line engagement to create a mutual understanding on key client challenges and pro-actively pick-up on key client challenges,” advises Suzette Els, Chief Compliance Officer for Standard Bank Corporate and Investment Banking. In this article, part of a series from Standard Bank specialists, Suzette talks about trends in the compliance space, how clients are being assisted with these, and what CFOs should expect.

Sibanye Gold’s Cooke Mine, located in Randfontein, Gauteng, estimates that it has lost 300 kilograms of gold production, the equivalent of R160 million, due to the recent, four-week unprotected strike.

Coca-Cola and the South African government have reached an agreement on a package of conditions as the purchase of a controlling 54.5 percent stake in its joint Africa venture with Anheuser-Busch InBev (AB InBev) nears completion.

MMI has promoted Mary Vilakazi (pictured), nominated for the 2017 CFO of the Year Awards, to the role of deputy CEO. In her new role, Mary will be responsible for driving the effective implementation of MMI’s plans.

It never ceases to surprise us that many CFOs heading up the finance departments of massive organisations equipped with the bleeding edge of technology are content to limit themselves to the equivalent of an abacus when it comes to boosting their own productivity. Here are five apps to help you get a handle on your personal productivity.

Koncart, a platform that empowers developers and techpreneurs to build their financially driven tech idea with ease, has recently been launched into the African FinTech sector. The platform enables startups to quickly create and manage virtual wallets and transactions with an in depth analysis to your data by leveraging on Koncart’s analytics dashboard.

In the three years to 2016, almost 16,000 organisations across the globe had their IT systems breached – the equivalent of 17 cases of business email compromise every day, according to the US-based Internet Crime Complaint Center. Recent cyberattacks on companies around the world have rung alarm bells over how firms protect their business from criminals. A new report , Keeping Business Clean, tells business leaders how to crack the hackers on scams such as executive impersonation, where fraudsters dupe unwitting staff into transferring money from company accounts.

“First and foremost, we have one focus: delivering value with a long-term objective of providing the best service in our industry," says Christo Jacobs, director at Intellection, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

South African diversified chemicals maker Omnia Holdings announced a drop in full-year profit of 7% in a results presentation on Tuesday, as difficult trading conditions took their toll on the company’s mining and chemicals divisions.

Despite recently saying he would be retiring, Tyrone Soondarjee, previously financial director at the Sasfin Group, has been appointed Cell C’s new chief financial officer, effective 1 July 2017. Soondarjee will take over from Robert Pasley, who will return to his original role as chief strategy officer.

Andrew Mackie, Deloitte’s newly appointed Head of Audit for Africa, believes there is great value in cultivating a strong network of CFOs and building a community of finance leaders. Mackie says he is excited about Deloitte partnering with CFO South Africa: “It is vital, particularly in these tumultuous times, that finance leaders hunker down together and find common ground.”

“Strategy, strategy, strategy. In difficult economic times, it is critical that the CFO to manage, innovate and focus the company finances not only to survive short-term challenges, but to expand and grow in the long-term as well,” says the head of the University of Johannesburg’s accounting department, Professor Ben Marx.

Consumer uptake of innovative FinTech products is set to be embraced by the mainstream as adoption levels surge among digitally-savvy consumers, according to a study by EY. The research, based on 22 000 online interviews with digitally active consumers across 20 markets, shows that the emerging markets are driving much of this adoption with China, India, South Africa, Brazil and Mexico averaging a 46% participation rate.

Four years in the making, a new type of debit order, DebiCheck, is nearing completion. Created as a result of increased concern over the number of unauthorised debit orders being processed, this new debit order system will only authorise a debit order to be processed to a consumer’s account if the mandate for such has been electronically confirmed by the consumer.

"With Treasury Cloud Technology, the benefits of an in-house bank are within reach of most medium-sized companies and not just available for the select few listed firms," says Rudolph Janse van Rensburg, CEO of Treasury Technologies, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

For his work as CFO of SANParks, Rajesh Mahabeer, now Head of Public Sector Finance and Deal Origination at Garuda Capital (Pty) Ltd, was nominated for the CFO Awards 2017. We chatted to Rajesh about his tenure at SANParks and how he turned the finance team around, setting a new strategic direction for the entity in doing so, as well as his new role in the M&A and corporate finance space.

Agricultural services company KaapAgri (KAL) this morning listed on the ‘speciality retailer’ sector of the main board of the JSE. The company, which has a history dating back more than 100 years, to 1912, is valued at around R4.1 billion.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

South African tech and media giant Naspers on Friday recorded positive results for the year to March 2017, increasing revenue by 19% year on year to $14.6 billion. Core headline earnings at Naspers rose 41% to $1,8 billion for the year. Positive results from Chinese behemoth Tencent took the edge of its stuttering pay-TV and other e-commerce ventures, with businesses outside SA contributed 80% of revenues, compared to 77% a year ago.

High-profile data breaches are regularly in the news and, seemingly, businesses and are losing the battle to protect their intellectual property (IP), corporate and customer data from professional cybercriminals. Michael Marriott, security expert at Digital Shadows, shares his insight.

The Democratic Alliance (DA) and the Economic Freedom Fighters (EFF) have opposed the Twin Peaks Bill, officially known as the Financial Sector Regulation Bill, while the Inkatha Freedom Party (IFP) has accepted it, albeit with reservations.

Johnny Dladla (pictured) has been appointed acting group chief executive of Eskom, with immediate effect. This after Public Enterprises minister Lynne Brown ordered Eskom to rescind Brian Molefe’s reappointment as the power utility’s chief executive late last month.

The Independent Regulatory Board for Auditors (IRBA) has said that additional measures to drive transformation will be required to address government’s concerns regarding de-concentration of the audit market and transformation. This in the face of criticism that Mandatory Audit Firm Rotation (MAFR) will not address transformation of the profession.

TechPreneur Africa, which aims to support FinTech firms and entrepreneurs that want to increase financial inclusion and opportunities for growth across Africa, has signed a memorandum of agreement with international financial hub Abu Dhabi Global Market (ADGM).

Till Streichert (pictured), CFO of mobile communications company Vodacom Group, walked away with three awards at the 2017 CFO Awards in May. Besides claiming the coveted title of CFO of the Year, the quiet-spoken German national also scooped the Strategy Execution and Finance Transformation honours.

Lushen Pather (pictured), CFO of Sasfin Bank Limited and Sasfin Holdings Limited, who was nominated for this year's CFO Awards, has been appointed acting group financial director, effective 1 July 2017, until such time as a permanent replacement is appointed. This as Tyrone Soondarjee, existing group FD, will be retiring from the Sasfin board and subsidiary boards, effective 30 June 2017.

CFOs who are handed property portfolios or commercial challenges with a property aspect really have a great opportunity to get closer to the business. And with a closer handle on your business you become a better CFO. This was the view of guests at last night’s CFO South Africa dinner, which was filled with great insights, perspectives and relationship building.

Accountants play a crucial role in the engine room of any business, but they have long been the victims of unkind stereotyping and have somewhat unfairly earned a reputation for being boring, methodical, number-crunchers with no sense of humour and a penchant for weird green peak caps.

With more than 5 000 visitors tapping into a wealth of resources, know-how and inspiration and gaining unparalleled insights, Finance Indaba 2016 was an ambitious venture, but it was also one established on the idea that helping just a single individual would have a knock-on effect and prove fortuitous for the continent's financial services sector.

The auditor-general (AG) local government report has been released, showing the audit outcomes of 263 municipalities and 51 municipal entities. Unfortunately, there was little improvement in the local government audit outcomes for the year 2015/16, and very few municipalities achieved clean audit opinions.

Kenny Fihla was recently made CEO (he was, until then, deputy CEO) of Standard Bank’s Corporate and Investment Banking division. For him, the ideal CFO needs to be three key things: a core partner, concerned with sustainability, and a sanity check for the organisation. “If a CFO can play these three roles exceptionally well, you’ve got a winner.”

“CFOs need to be drivers of strategy. We need to look beyond financial reporting and management accounts and actually get involved in driving our businesses. At Transnet, we feel that the CFO is the the strategic enabler of the business. We feel that those in the profession from both public and private sectors should work together to drive economic growth in the country,” said Transnet CFO Garry Pita.

The South African Institute of Professional Accountants (Saipa) has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Brooks Mparutsa (pictured), executive director of Hollard’s international business, has said that the insurer has “significant acquisitions” planned on the continent in the coming years, and would be partnereing with New York Stock Exchange-listed Cigna, a global hearlth insurer, to offer health insurance to companies working in Africa. Hollard already has offices in Zambia, Namibia, Mozambique, Botswana and Ghana, as well as South Africa.

Six European cities attract 70% of all investments in European private FinTech companies.

In a deal that has sent shockwaves through both online and brick-and-mortar industries, Amazon.com has said it will acquire Whole Foods Market for $13.7 billion. According to Bloomberg, Amazon has agreed to pay $42 a share (in cash) for the organic-food chain.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience. 1. Apple Bank here we come Guys, it's happening. Did you miss the news? You probably did, because the announcement was tucked in between demos of the latest iMessage stickers. Millennials... sigh. At the annual developer conference WWDC, Apple announced their next move into the world of Financial Services. If you thought Apple Pay was as far as they would go, you were mistaken. Sorely mistaken! 2. Amazon, Whole Foods, and the Future of the (Old) New Economy I heard the news today, oh boy — Amazon is buying Whole Foods Market in a deal worth nearly $14 billion. The combination of these iconic companies, both of which have come of age in the last two decades, raises obvious questions. Does the transaction reflect how hard it’s been for Whole Foods to keep Wall Street satisfied with its growth and profits? (It does.) Does the deal underscore just how expansive a vision Jeff Bezos has for Amazon, his dream of it becoming the “everything store”? (No doubt.) 3. Why accountants need to get a grip on blockchain By strict definition, blockchain is a global digital ledger of economic transactions that is transparent, continually updated by countless users, and considered by many as almost impossible to corrupt or hack. But in the broader sense, blockchain is also a lightning rod for highly charged opinion, confusion, and even fear. Some argue that blockchain will completely transform finance, accounting, and auditing. Others are decidedly more circumspect regarding its impact. And a certain segment is nervous, not knowing whether blockchain will make portions of the accounting profession obsolete – perhaps large ones, specifically as it relates to the current audit and tax practices focusing on compliance. 4. CFOs Still Spurning High-Return Projects Modern finance theory says that as long as an investment earns a rate higher than the cost of capital, it creates value for a firm. Thus, when the hurdle rate exceeds the cost of capital, a firm is passing up value-creating projects, explains John Graham, professor of finance at Duke University. 5. 5 Leadership Mistakes Even the Best Bosses Make If you think your boss is some freak of nature and you're the luckiest person alive, I'll break it to you gently: He or she is human and will make mistakes. The great ones rise up from their errors by A) acknowledging they made a mistake and correcting a behavior (think humility), or B) acknowledging a blind spot that needs to be addressed, then doing something about it. Lets dive into a few prevalent leadership mistakes that even the best and smartest leaders tend to make. 6. How artificial intelligence can deliver real value to companies After decades of extravagant promises and frustrating disappointments, artificial intelligence (AI) is finally starting to deliver real-life benefits to early-adopting companies. Retailers on the digital frontier rely on AI-powered robots to run their warehouses—and even to automatically order stock when inventory runs low. Utilities use AI to forecast electricity demand. Automakers harness the technology in self-driving cars. 7. How Can You Tell Someone Has True Leadership Skills? Look for This ... Ever been in an important meeting where a topic on the agenda causes tension that you can cut with a knife? Instead of colleagues speaking up to solve an issue, you get poker faces and eyes looking down to avert what nobody wants to deal with. The same is true when it comes to having those tough conversations to call someone to the carpet. We procrastinate or avoid the confrontation, because it's never pleasant, for example, to tell someone she's not cutting it. So when people ask me, "What's the secret to great communication?" my usual response baffles some, because it can seem so counterintuitive: "Be radically transparent." 8. The benefits of thinking like an activist investor The rapid growth and influence of activist investors has many executives nervously looking over their shoulders. Even large companies are increasingly vulnerable (Exhibit 1). But there is a benefit to be had by those managers with the courage to take as hard a look at their own company’s performance as a performance-minded outsider might. The objective isn’t necessarily for managers to do what activists would do—activists’ performance is mixed, after all (Exhibit 2). Instead, the goal is for managers to examine their own strategy, governance, and operations with an eye to unearthing opportunities to improve performance. 9. How To Write A Work Email When You’re Really Pissed Off Just don’t. But if you absolutely must, do it like this. 10. Top 10 tips for great teamwork Doing great teamwork or being an inspirational team leader are terms we often hear bandied in our workplace or perhaps in the plethora of management aid books now available. Leader, player, server of teams – we all have a part to play. Yet, how well are you playing your part? In the first of a new series of articles by global job board CareersinAudit.com, Simon Wright, operations director, provides a top 10 teamwork checklist.

Treasury Technologies has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and dealmakers about the homework a growth-hungry company needs to do. “You cannot over-plan,” says Arie Maree, Ansarada Managing Director for Africa and the Middle East. “Once the rubber hits the road with a deal, there are tight timelines, plenty of stress and lots of money at stake. More planning means a smoother due diligence and ultimately, a smoother transaction,”

Abigail Mukhuba (pictured), the current CFO of African Rainbow Minerals (ARM), has been appointed FD, with effect from 11 December 2017. Mukhuba replaces outgoing FD, Mike Arnold, who reaches ARM’s retirement age of 60 in July.

This year’s CEO Outlook, released by KPMG, has revealed that 68 percent of CEOs see disruptive forces as an opportunity, not a threat, for their business. The CEO Outlook is based on in-depth interviews with 50 CEOs of some of the country’s largest companies.

JSE-listed African Oxygen (Afrox) has appointed Matthias Vogt (pictured) as its new CFO and executive director. Vogt, who joined Afrox as finance GM in July 2015, will replace outgoing CFO Dorian Devers, from 1 August this year.

Durban-based investment firm Multiply Group has acquired 35% of newly formed Crossfin Technology Holdings, part of the Capital Eye Investments’ portfolio, which owns stakes in several companies in the FinTech space.

During the first roundtable session of the June CFO Summit, South Africa's leading financial executives learnt operational strategies to cut costs and optimise their businesses, so as to retain their levels of productivity and maintain their organisations’ competitiveness.

“You can use your office space to create happier and more productive staff by making sure that you're providing a space that makes them feel engaged, empowered and fulfilled,” said Craig Hean, MD of JLL Sub-Saharan Africa, who was speaking yesterday at the CFO Summit.

With the purse strings in their hands and the demands of their board, stakeholders and personal lives, CFOs face numerous pressures, especially in the current volatile market. The latest CFO Summit equipped them for survival and future success.

With more than 5 000 visitors tapping into a wealth of resources, knowhow and inspiration and gaining unparalleled insights, not only was Finance Indaba 2016 a golden opportunity to meet others in the industry, network with peers and speak to professional organisations and training institutions, but it also offered neatly segmented paths and programmes for visitors to get the best out of the event.

It can be easy to lose sight of the end goal in the helter-skelter world of finance, as you are bogged down in interminable meetings, email overload and organisational bureaucracy. While meeting your obligation to drive business efficiencies, your personal productivity may take a hit. Here are five productivity hacks to help streamline your own processes.

South African food company Tiger Brands announced today that its deputy chairman, Bheki Sibiya, would be stepping down at the end of June.

Kenny Fihla was recently made CEO (he was, until then, deputy CEO) of Standard Bank’s Corporate and Investment Banking division. He shares with young finance professionals some personal pearls of wisdom for success. “Organisations are desperate for leaders and leaders are really tested in that kind of way – who is always willing to step out of the ordinary and to venture into the unknown?”

“The single most important thing that CFOs need to keep in mind in the years that lie ahead is how best to cut costs and drive efficiencies, ensuring that their businesses are sustainable in a difficult, low-growth environment,” said University of Pretoria Chancellor Wiseman Nkhulu.

South African FinTech Entersekt has received a multi-million-dollar cash boost to fund its global expansion.

Ben Ngubane (pictured) has resigned as non-executive director and chairperson of the board of Eskom with immediate effect. Lynne Brown, Public Enterprises minister, made the announcement late last night.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

DocFox has joined Finance Indaba 2017 as a gold partner and will make its debut at the event at the Sandton Convention Centre in October.

“As a leader, you should create an environment that allows for growth in the team and for people to feel passionate about the work that they do,” says Fabian Naidoo, divisional CFO of non-profit organisation (NPO), Right to Care (Rtc). Fabian is currently also acting as finance director of the RtC Group. Fabian says his philosophy about work can be summed up by this quote from Steve Jobs, ‘The only way to do great work is to love what you do’.

KPMG won two prestigious accolades at the recent Private Equity Africa Awards 2017 (PEA Awards): Global Financial Advisor and Single Deal Advisor.

South African cement-maker PPC has reported an astonishing 93% plunge in full-year earnings after enduring a liquidity crisis following a cut in its credit rating to junk status by S&P Global Ratings.

At the turn of the year, futurist Craig Wing wrote a piece where he postulated an increase in three seemingly unconnected developments all aligned with the central tenant of trust and transparency in a connected world. As we approach the middle of the year, Craig has updated it, adding local context particularly within the changing landscape of credit downgrades.

Communications Minister Ayanda Dlodlo announced during a cabinet meeting late last week that Dondo Mogajane (pictured) has been appointed the new director general of National Treasury. Cabinet has approved the appoinement.

Kenny Fihla (pictured) has been appointed Chief Executive of Standard Bank’s Corporate & Investment Banking (CIB) division, effective immediately. Kenny takes over from David Munro, who will be fulfilling the role of CEO at Liberty, also part of the Standard Bank Group.

Successfully merging companies is no small feat. Walter Leonhardt, award-winning FD of Coca-Cola Beverages South Africa, talked a group of CFOs through Coca-Cola’s journey of ‘continuous improvement’. “Authenticity is key because it plays on trust. If you want to win the trust of employees, you have to be authentic. You’ve got to do what you say you’re going to do, and follow up on what you say you’re going to follow up on,” the seasoned finance executive said.

London remains the powerhouse of global FinTech, despite concerns over Brexit and the upcoming UK elections. Some 31 London-based FinTech firms are featured in the annual Fintech50 report, which lists the best startups in the space as decided by industry leaders including Microsoft and Samsung. The number has increased from 29 in 2016 and the list includes seven more London-based startups than it did in 2015.

CFO Summit #3 on 14 June 2017 at the Summer Place in Johannesburg’s Hyde Park continues our efforts to bring the very best CFOs and experts together for exceptional learning and networking.

South Africa-based retail group Steinhoff International has reported a 13 percent rise in half-year operating profit, along with a 48 percent increase in revenue. This as recent acquisitions bolstered sales.

Gaining access to the C-suite isn’t the end game for executive development. In many ways, it is just the beginning, as you seek to make your mark in a field of a higher calibre and plug the knowledge gaps you may have overlooked on your way to the corner office. Here are four soft skills that will make you stand apart from your peers.

Dorian Devers has resigned as CFO of JSE-listed African Oxygen (Afrox), effective 31 July. He is relocating to New Zealand to pursue opportunities outside Linde Group AG, the holding company of Afrox.

Telecommunications giant and South Africa’s biggest fixed-line telephone group Telkom delivered pleasing results for the past financial year, including a rise in headline earnings by 12,4% that saw its shares jump by more than five percent immediately after the presentation in Midrand on Monday.

“CFOs are the custodians of capital and capital drives a lot of decision-making. Many people don’t look beyond the bottom line, but beyond the economic realities, there are socio-economic issues. CFOs need to start focusing on how they can use capital and explore synergistic opportunities to address not just company issues, but those of the broader community,” said Clover finance boss Elton Bosch, who is widely regarded as one of the leading CFOs in the country.

As one of the foremost financial institutions on the continent, Standard Bank has been making great things happen in Africa for over 154 years. The bank currently operates in 20 countries on the African continent, including South Africa, as well as in other selected emerging markets, and employs more than 54 000 people across its 1 221 branches. CFO South Africa is pleased to have retained such a prestigious diamond partner for Finance Indaba 2017.

DA leader Mmusi Maimane has laid several charges on various individuals, including Eskom CFO Anoj Singh (pictured right with Transnet CFO Garry Pita at the 2017 CFO Awards), in the wake of the leaked Gupta emails.

Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced that it led an $80 million Series E investment in India-based Swiggy, an online food ordering and delivery platform in India. Ashutosh Sharma, head of investments in India for Naspers, will join the Swiggy board. The investment will help to bolster Swiggy’s growth plans and demonstrates Naspers commitment to help Swiggy become the undisputed leader in food ordering and delivery across India.

“You only have one chance for a first impression. I am always respectful but I never confuse respect with blindly following others,” says National Treasury CFO, Silindile Kubheka. We have tried to unpack the remarkable metamorphosis of the National Treasury CFO from a shy, quiet serial student to a leadership powerhouse with strong views on boardroom dynamics, youth development and ways to professionalise government.

The CFO Forum has said it is “deeply concerned” by the decision to introduce mandatory audit firm rotation (MAFR) for South African business.

Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.

i-Pay has joined Finance Indaba 2017 as a silver partner and will make its second showing at the event at the Sandton Convention Centre in October.

“Everyone has a different way of thinking about FX and settling and hedging their FX and we must solve and understand for each of these,” says Richard de Roos, Head of Foreign Exchange for the Standard Bank Group. In this, the second article in a series from Standard Bank specialists, Richard talks about forex trends in Africa, what Standard Bank is doing to stay ahead of the pack, and what CFOs should expect in this arena.

Barclays has announced the sale of its Zimbabwe bank to Malawi-listed First Merchant Bank, as the British lender continues to exit Africa.

The Public Investment Corporation (PIC), Vodacom Group’s second-largest shareholder, has said it will vote in favour of the R34.6 billion takeover of Kenya’s Safaricom. The PIC holds a 15.63% interest in Vodacom Group.

Gautam Gupta, Uber head of finance, has announced that, come July, he will no longer be with the international ride-hailing company. Instead, he will be joining another San Francisco-based startup as COO. Gupta’s moves comes as several other top Uber officers have left the company this year.

Website CFO.co.za welcomed 18,444 visitors in the month of May 2017, a new record for the online hub for finance executives. Posts about the 2017 Finance Indaba Africa and the 2017 CFO Awards were among the best read, along with this news article about the recently announced collaboration between accounting bodies SAICA and CIMA.

Researchers from the London Business School have found that encouraging employees to keep from showing positive or negative emotions will drag down their performance and that of their organisation. On the other hand, workers who feel that they are able to express themselves freely in the work environment tend be more productive, innovative and creative. Corporate leaders have a vital role to play in creating this sort of workplace environment. “What emotions and experiences are allowed, encouraged and supported and how does this impact an organisation’s strategic priorities such as innovation?” asks Michael Parke, Assistant Professor of Organisational Behaviour at London Business School. “When people are invested in their jobs, they can get upset or frustrated with things but they should be able to share those emotions so it doesn’t stymie their work or creativity.”

Did someone cancel the FinTech revolution or has it just been delayed? That's the question posed by a new report on the UK scene, which argues that new entrants have failed to lure customers from incumbents and that VC money has started to dry up. Over the last few years, the FinTech hype machine has been in overdrive, with a digital revolution promising to change market structure, radically improve products and services, and save the high street veterans from sliding into invisible utilities.

CFOs of two of The Netherlands most famous retailers have received CFO Awards during a celebratory ceremony at the end of CFO Day, a full day of learning and networking attended by 500 Dutch finance executives in the coastal town of Noordwijk. The awards went to Jeff Carr (pictured left) of Ahold Delhaize and Ron Hemmer (pictured below) of Hunkemöller.

After posting a 6.3 percent rise in half-year profit, food company Tiger Brands said that it will pull focus back onto middle-income consumers in its home market of South Africa.

KPMG is a leading global professional service company and one of the "Big Four". Established in 1987 with headquarters in Amsterdam, KPMG employs 189 000 people, offering financial audit, tax, and advisory services. The firm, which is frequently cited as one of the best places to work and build a career, was also a diamond sponsor of CFO South Africa's Finance Indaba extravaganza in 2016.

CFO South Africa is all about networking and gaining knowledge from peers. The CFO community is a worldwide one and we pride ourselves on our ability to bring you relevant insights that can assist you in furthering your personal aims and those of your organisation, no matter the sector in which you operate. Here are four pieces of advices from the CFOs of leading global companies.

Standard Bank corporate and investment banking (CIB) CEO David Munro (pictured) has taken over as CEO of Liberty in the wake of Thabo Dloti’s unexpected departure. Standard Bank holds a 54 percent share in Liberty.