Finance Indaba: the biggest finance conference in Africa

Most CFOs think that good budgeting means cutting costs instead of looking at ways to stop wasteful spending, said Accenture’s Madeleine Joubert during Finance Indaba Africa, which was held at the Sandton Convention Centre on 13 and 14 October 2016. But zero-based budgeting means focusing on both top and bottom line, she explained. "It’s not about cutting costs, but redirecting the money.”

CFOs in the public sector have to be as skilled in the art of strategic relationship-building and diplomacy as they are with working with numbers, finance executives agreed in a breakaway session at the Finance Indaba Africa at Sandton Convention Centre in Johannesburg on 14 October 2016.

We’ll never again have economic growth like we have known before, says Martijn Aslander. And that’s okay...

“We weren’t expecting so many people,” explained entrepreneur and Beerhouse founder Randolf Jorberg, as he put out the crate of craft beer at the front of the room, inviting the audience to help themselves. Still, the promise of beer brought the crowd in, and the resulting fascinating case study in crowdfunding kept them.

In his presentation titled The Inconvenient Truth About Cybersecurity at CFO South Africa’s Finance Indaba Africa, which took place on 14 October 2016, KPMG Cyber Security Manager Nathan Desfontaines called on CFOs to be more involved in finding solutions to dealing with cyber attacks in their organisations.

Diversity in the workplace is both constitutionally mandated and fundamentally good for business. This was the message from award-winning Discovery Health CFO Brett Tromp, in a discussion moderated by Talent Africa’s Auguste Coetzer, at the Finance Indaba held at the Sandton Convention Centre on 14 October 2016.

The “Africa rising” narrative that dominated headlines ten years ago has taken an anecdotal beating, affected by the downturn in commodities, and several of the continent’s biggest economies being plagued with poor growth, both private and public corruption, and political bad news. But, investment wise, does that mean Africa is no longer a strong growth space? Do investors consider this bubble burst?

Political upheaval, King IV and ethical leadership were all on the agenda as some of KPMG’s leading minds applied themselves to the question of regulatory change and its impact on business at the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 14 October in an entertaining session hosted by the multinational auditor.

“Students of the future are often students of history,” Futurist Graeme Codrington told attendants of the inaugural Finance Indaba Africa 2016, during his presentation on 14 October 2016. They study moments of change and disruption in history to understand what underlies huge disruption in our present age. Graeme – an international speaker, consultant, and best-selling author who has built a career out of preparing companies for change – believes that the echoes of the past, the ones that were present at the last major social renaissance, are present in the world today, and companies fail to heed them at their peril.

Mervyn King told the Finance Indaba Africa that business has shifted from thinking about short-term profit to focusing on sustainable capitalism, but that there is much still to be done.

During CFO South Africa’s Finance Indaba Africa held at the Sandton Convention Centre on 13 and 14 October 2016, Head of the Advisory IT at Grant Thornton, Oupa Mbokodo warned internal auditors about playing a policing role in an organisation and encouraged them to employ a more integrated thinking approach to their audits.

“One ERP is not about creating a utopia, but using technology to create an illusion of a single interface for things like cash and shared service centre management. Robotics is fantastic – we have a lab in Germany dedicated to playing around with – but most robots today only fix things that are broken.”

Finance industry giant Professor Mervyn King has motivated for a “rebranding” or repositioning of chief financial officers (CFO) into chief value officers (CVO). Professor King made a strong case for this during a public discussion with Johannesburg Stock Exchange CFO Aarti Takoordeen, at the second day of the Finance Indaba Africa 2016.

How should smart leaders position their organisations for change? That was the central question in a through-provoking keynote from KPMG chairman Ahmed Jaffer at the firm's cocktail function on 13 October 2016 at the Finance Indaba Africa. The event was one of the highlights of #findaba16, with the who's who of CFOs and corporate South Africa enjoying the entertainment, food & drinks and networking.

"Let's take the lessons and the inspiration from the Finance Indaba Africa with us and use it in our daily jobs," said SAICA CEO Terence Nombembe at the opening of day 2 of #findaba16. In an impassioned plea, he called on finance professionals to start contributing more to the future of South Africa, listing several practical steps for CA(SA)s and other finance professionals. "All of us need to be courageous enough."

Well over 3000 finance professionals came to the Sandton Convention Centre on 13 October for the first day of the very first Finance Indaba Africa, an expo and conference that has announced itself as the annual highlight on the calendar of South Africa's finance professionals. With 75 exhibitors, 120 speakers and incredible energy levels, the success of the event was firmly established - attendees and partner organisations alike enjoying massive value from the interactions, learning and sharing of knowledge.

Easy Equities is the overall winner of the 2016 African FinTech Awards at the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016.

Two women share their views on what women need to do to achieve success in the finance industry, and how they can uplift other women along the way.

Keeping track of what happens in the business and measuring everything is what makes McDonald’s flourish as a business, conference attendees heard during Finance Indaba Africa which took place at the Sandton Convention Centre on 13 and 14 October 2016.

A presentation by South African Auditor-General, Thembekile Makwetu was one of the hottest tickets at the inaugural Finance Indaba Africa – which opened at the Sandton Convention Centre in Johannesburg on 13 October 2016. The Auditor-General’s speech kicked off the 'Finance for Africa' track programme at the Indaba.

Two CFOs who have developed their careers by working in different locations around the world share their views on whether international experience is essential on your CV.

Cube Bucks, The Sun Exchange and Bankymoon went head to head in the hotly contested Blockchain & Bitcoin category of the 2016 African FinTech Awards at the Finance Indaba Africa at Sandton Convention Centre in Johannesburg on 13 October 2016.

“The culture of an organisation, our mindset and how we do things can constrain the growth of a company,” said Deloitte’s Global Research Director Dr Ajit Kambil during a talk titled Leading with Insight: Are you a strategic CFO? at Finance Indaba Africa 2016 on 13 October 2016 at the Sandton Convention Centre.

Servicing the millions of unbanked citizens of Africa and bringing them into the mainstream economy through FinTech innovations – the mission of many startups – can thwart poverty and other social ills, as well as enable the continent to compete on a level footing with the rest of the world. This was the core message coming out of the opening discussion of the African FinTech Awards at the 2016 Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016.

Can you unlearn what you know and learn what you not yet understand? That is what maverick investor, disruptor and global speaker Vusi Thembekwayo asked finance professionals during the energetic and thought-provoking speech that officially opened Finance Indaba Africa 2016 in the morning of 13 October 2016.. "Are you able to innovate and build a business for the future?"

The day that finance professionals have been looking forward to for many months has finally arrived - it is time for Finance Indaba Africa! With two days of learning, inspiration and unparalleled networking, the inaugural event has already established itself as the biggest conference and expo for African finance teams in the world. The numbers are impressive: 13 & 14 October 2016, Sandton Convention Centre, 5000 attendees, 120 sessions with speakers and discussions and 75 exhibitors.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Entrepreneurship, risk and return, an awesome programme on 14 October 2016.

To close the Finance Indaba Africa in style, CFOs and FDs are invited to an exclusive CFO South Africa cocktail function, in collaboration with global credit insurance company Euler Hermes. One of Europe's most revered analysts, chief economist Ludovic Subran, will give a insightful talk about the biggest risks that (South) African CFOs are facing and the best ways to deal with it. To warm up for the main event, we asked Ludovic a few questions.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: The Future of FinTech, an exhilarating programme on 13 October 2016.

The Finance Indaba Africa is the annual one-stop-shop for everything finance professionals need to know to grow their careers and help the country and continent prosper. It is only fitting that some of South Africa's most exciting home-grown artists will be on stage to provide the entertainment during the event Their performances are kindly sponsored by the National Arts Council of South Africa, with Young CFO of the Year Dumisani Dlamini as its driving forces.

"Zero-Based Budgeting is a new way of budgeting annually to allow business to prioritise and investing in activities that will drive competitive advantage and revenue growth," says Dr Madeleine Joubert, Finance and Enterprise Performance Lead at Accenture. "Companies should consider removing waste and freeing up capital that can then be turned to more lucrative activities. At the Indaba, we’ll provide them with the insights and expertise on how to achieve exactly that."

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance leading with data and insight, a two-day programme opening up the world of analytics and technology.

"Cryptocurrency and 'click once' authenticated payments will be prominent in the future," says Thomas Pays, CEO of iPay, a simple, real-time EFT payment solution, that allows consumers to make secure, instant payments directly into a merchant’s bank account.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance in Control, a two-day programme for all finance professionals.

Oracle is a platinum partner at the Finance Indaba Africa on 13 and 14 October 2016. Why should you come listen to what they have to say? Read this excellent piece by Dee Houchen and find out!

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Public Finance Leadership, a programme tailor-made for people with an interest in helping the country forward in the public sector.

“Not only is SAP Business One key to the smooth running of daily operations and the business at large, but I personally have found it invaluable in the execution of my role as finance manager,” says Annemarie Haywood, finance manager at staffing solutions company CallForce. Annemarie will be part of a panel, hosted by 4most, at the Finance Indaba Africa on 14 October 2016 (see details below). We spoke to her ahead of the landmark event.

The Finance Indaba Africa is THE place where finance professionals can get to grips with the latest and greatest technologies around. Besides well-established brands like SAP, Oracle and IBM, there is also space for a number of exciting, highly specialised companies. One of those is silver partner Larc AI. We spoke to Jannie Strydom, CEO of Larc AI about his message for finance teams.

You already know that your business can help move transformation forward through job creation and human capacity development. But do you realise that transformation can also help your business move forward? We talk to Bongani Coka, CEO of the South African Institute of Professional Accountants (SAIPA), who will be presenting the amazing results of Project Achiever at the Finance Indaba Africa on 14 October 2016 at 14h30.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Smart Finance, Smart Business a two-day programme about the power of technology.

The CFO Case Study Competition’s Round 2: Public Votes has ended with Team Snipers from Ghana taking the lead with over 900 votes. They are now the official winners of this round and take with them 2 points to their credit as they proceed into Round 3: Semi-finals to be held at the JSE Limited on 13 October 2016. Over 2,500 votes were casted in total for the teams in this round.

"The Finance Indaba is an ideal platform for Linxus to engage with key decision makers by demonstrating the value we can add to any business through our software products," says Russell Glover, managing director at Linxus, a a gold partner at the Finance Indaba next week. We spoke to him exclusively. Why is Linxus present at the Indaba? "Linxus is a Software Solutions business that specialises in the building and implementing solutions that drive operational efficiencies, reduce cost and mitigate risk. Our focus is on delivering appropriate and responsible solutions that are developed and implemented rapidly thereby addressing current business needs in a time frame that enables businesses to grow and or reduce cost, ultimately driving profitability in your business."

Connect Africa Payments is a B2B technology solution, connecting various payment networks. Members of the hub are able to facilitate cross-network transfers. The Kenya-based FinTech company is a silver partner at the Finance Indaba Africa. We asked Caroline Cherotich to tell us a bit more.

Given the connectedness of organisations today, cyber security has become a fundamental part of business. Nathan Desfontaines, KPMG’s Cyber Security Manager in South Africa, believes that this environment is challenging CFOs to look differently at operational requirements. He wrote this guest article in anticipation of the Finance Indaba Africa.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: SME Growth and Profitability, a two-day programme for finance professionals working for smaller firms and medium-sized businesses.

With well 30,000 people voting and an elite panel of 40 judges helping to determine the eventual winners, the African FinTech Awards 2016 (#AFTA16) are shaping up to be a “mind-blowing success”, to quote the man behind the awards, Alex van Groningen.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: High Performance Finance, a programme on 14 October, moderated by Chris Ellis of Vickers & Peters.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Careers on the couch, a two-day programme about building an exciting career in finance.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance for Africa, a two-day programme moderated by Didi Sehume, Treasury and Securities Services associate at JP Morgan.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: the Future of Finance, a two-day programme moderated by corporate trainer Dave Stevens.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: the spectacular opening sessions and award ceremonies.

“We have been blown away by the number of partners and visitors the Finance Indaba Africa is attracting in its very first year,” says Alex van Groningen, the Dutch entrepreneur behind the successful knowledge sharing event on 13 and 14 October 2016 at the Sandton Convention Centre.

The buzz among 70 excited marketing gurus was telling: the excitement for the Finance Indaba Africa 2016 is palpable. The exhibitors, partners and sponsors can't wait to greet the 5000 finance professionals at the two-day finance feast on 13 and 14 October 2016 at the Sandton Convention Centre.

We believe we have the formula for the right balance that allows you to empower business with self-service whilst ensuring strength and trust for IT." says Davide Hanan, chairperson of QlikView SA, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

KPMG has joined the inaugural Finance Indaba Africa as a Diamond Partner and promises to offer a wide range of interesting and inspiring content for visitors to the much-anticipated event.

"We help simplify the IT environment so that our customers can free up money, time, and resources to invest in innovation," says Kholiwe Makhohliso, Technology and Country Leader of Oracle South Africa, a platinum partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

“As SAICA we are very excited about the Finance Indaba Africa which will be held on 13 and 14 October 2016,” says Terence Nombembe, CEO of the South African Institute of Chartered Accountants (SAICA). “The event is a great initiative from CFO South Africa, where we can showcase excellence and the value CAs(SA) can contribute to society.”

“We focus on middle- and back-office operations and it’s all about wringing efficiencies out of these operations – automating as much as possible, saving on staff costs, reducing breaks due to reconciliation problems, etc," says Mark Neethling, the GM of Financial Services at Bytes Technology Group, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Elize Kirsten (pictured), a Lecturer at the University of Pretoria, in the Department of Financial Management, has been chosen as the 2016 CFO Brand Ambassador in the CFO Case Study Competition, winning R10,000 in the process. One of Kirsten’s teams, Team UP 116, is in the Top 6 heading to the semi-finals at the JSE on 13 October 2016.

To date, some 11,000 votes have been received (and just keep on coming), and as many as 200 companies entered into the African FinTech Awards. At present, the five top-scoring companies are Wala (1,200 votes), Vuga Pay (1,155 votes), Branch (980 votes), Yoco (420 votes), and MyBucks (358 votes).

"We can help finance professionals to improve their ability to better utilise their time, by automating and simplifying remedial processes like data collection, allowing them to spend more time on analysis," says Anna Puzone, the head of enterprise performance management at information management company Zetta Business Solutions, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"Leading in a new world requires the ability to join the dots, connecting the most relevant information and people from across the organisation when making decisions," says Zahra Cassim, the head of the Chartered Institute of Management Accountants' (CIMA) South African chapter, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"We offer clients an integrated, full-service offering for all their marketing needs – a real one-stop solution which delivers benefits in terms of value, consistency, confidentiality and sheer ease of doing business,” says Alban Atkinson, MD of integrated corporate communications agency INCE, a PLATINUM partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"When people receive a below-par standard of service from Sars, our office offers a free channel to air complaints," says Advocate Eric Mkhawane, CEO in the Office of the Tax Ombud, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Some 3,300 votes have already been received for the African FinTech Awards since the launch of the voting competition two weeks ago. At present, top-scoring companies include Wala (508 votes), Sureswipe (255), Wealthmigrate (217), Simplepay (204), Mobicred (178).

Successful venture capitalist, celebrated businessman and popular international speaker, Vusi Thembekwayo’s impressive CV would make any professional proud. It’s hard to believe that Vusi, who grew up in Wattville township near Benoni, is only 31 years old.

"We want to show the accounting world and finance professionals is that QuickBooks as a brand and a product has the range available to satisfy the financial needs of start-ups, SMEs and growing businesses," says Nick Braxton, national sales manager of QuickBooks SA, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

What started as a simple idea to extend the learning and networking of the CFO South Africa community has reached a real tipping point with the recent addition of Oracle and SAP to the list of exceptional exhibitors that will be present at the Finance Indaba Africa, which will be held on 13 and 14 October 2016 at the Sandton Convention Centre, Gauteng.

Out of the 320 teams representing 1,278 aspirants from 53 universities in 25 countries across five continents, the Project Board of the CFO Case Study Competition has announced the top 12 teams. Valentine Nti (pictured), the CFO Case Study Competition project executive director, said:

“Our local government and public sector qualifications are based on competency frameworks of municipalities and the National Treasury. They are designed to fit the purpose exactly,” says Nadine Kater, GM of the South African chapter of the Association of Accounting Technicians (AAT), a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"We see ourselves the gateway to the accounting profession," says Nicolaas van Wyk, CEO of the Southern African Institute for Business Accountants (SAIBA), a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"There is an undeniable need to introduce young people to entrepreneurship at an early stage and further ensure that they are equipped with the right skills from an education front," says Patience Semenya, head of the South African chapter of the Association of Chartered Certified Accountants (ACCA), a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"We make Excel the front end to your ERP (Oracle, SAP or PeopleSoft) and give you all the power of Excel plus more with our custom-built functions," says Shirley Riddick, MD of Excel4apps in the Middle East, Africa and Asia-Pacific. Excel4apps is a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

“Employers are seeking financial education that produces cutting edge and real world integrated technical, business and leadership acumen,” says Valentine Nti from CharterQuest, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. CharterQuest will host the global finals of the first ever CFO Case Study Competition at the Finance Indaba.

“We will be talking about how businesses can recover working capital, not only from eliminating double- and over-payments, but also from improving efficiencies and using our payment analysis reports,” says Carolina van der Ark from Transparent, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.

"The future is mobile and we are giving our customers the power to control their businesses from the palm of their hand," says Steven Cohen from Sage One, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.

If you are a finance professional and you are wondering if there are any dates in your calendar that you should keep open, wonder no longer. The Finance Indaba Africa at the Sandton Convention Centre - on 13 and 14 October 2016 - will be the pivotal gathering for number crunchers, money wizards and finance leaders. Those dates might be far away still, but behind the scenes CFO South Africa is putting together a fantastic program - with a line-up of speakers that should entice any accountant to head over to Sandton.

The cream of the crop of Africa's aspiring CFOs and business leaders will be competing for a prize of R100,000 during the global finals of The CFO Case Study Competition, hosted at the Finance Indaba Africa 2016. With entries for participants closing in March 2016, we spoke to Valentine Nti, CEO of organiser CharterQuest Institute about the way CFOs, corporate sponsors, professional bodies, universities and business talents of 25 years and younger can get involved.

Thousands of CAs and finance professionals are ready to move up the ladder. Join us at the Finance Indaba Africa and recruit the best.

South Africa has an outstanding pool of professional accountants. Whether you're a small start up or a successful mid size business, you will need these professionals to help grow and guide your business. The best accountants formulate ideas to help you reach your true goals becoming genuine business partners. Finding the right accountant is easier than you think and you are invited to meet the very best at Finance Indaba Africa.

Customers of South African banks have high levels of complaints, with many people complaining about bad service. Opening a bank account is South Africa is time consuming. South African banks are amongst the most expensive in the world charging monthly fees, internet banking fees and commission on payments. But they are there: finance providers that go the extra mile. Select your bank at Finance Indaba Africa.

Cloud is no longer an unknown or risky business, but an essential technological innovation that is a game changer for African businesses. “Through cloud solutions we are enabling companies to design their back office efficiently and deliver innovation across the business,” said Dee Houchen or Oracle (a platinum Finance Indaba partner) in a recent interview. At the Finance Indaba Africa all cloud providers will be present, giving South African finance professionals an unparalleled opportunity to compare offerings and learn.

Put your headlamps on and start mining big data! Success and profits of businesses are often the results of smart use of data and information. Lately, the opportunities to use the data that exists within your organisation has grown exponentially and executives and accountants are increasingly starting to realise that they are missing out if they are not mining big data.

Speaking at this year's Tax Indaba at the Sandton Convention Centre, the chief of the National Treasury’s Budget Office, Michael Sachs, said he was troubled by the upward trend in the debt-to-GDP ratio of 42.5%. While the figure itself was not sufficient cause to resort to emergency measures – it is still low in comparison to many other countries – the structural debt gap could lead South Africa into permanent low economic growth.

Corruption, more than any other factor, leads to an increase in tax avoidance and retarded economic growth. That was the message of David Hartnett, former permanent secretary of tax at the UK’s revenue and customs authority, at this year's Tax Indaba at the Sandton Convention Centre. “When there is a fair system, tax compliance and tax morality seem to be high. However, there is ample evidence that systemic corruption can do serious harm to tax morality,” he said.

Although VAT is the easiest of the taxes in the South African Revenue Service’s armoury to raise, it would have devastating effects on the country’s poor, according to Judge Dennis Davis.

In 2014 CFO South Africa piloted the CFO Awards, this year we launched a massive partnership with KPMG and next year is going to see the Sandton Convention Centre's doors open for the first ever Finance Indaba. "The difference between success and failure is often determined by the quality of the finance team and processes," says CFO South Africa's founding director Melle Eijckelhoff, who has a long track record of landmark finance events in Europe and is now working tirelessly to make the Finance Indaba a massive success.

Prof Mervyn King believes increasing taxes should be government’s last resort in bolstering the ailing economy. “Tax compliance is a two-way street. Taxation must be socially acceptable. The narrow financial prism is obsolete. The concept of value has changed, with economy, society and the environment now the central pillars of businesses,” Prof King told delegates last month at the fifth annual Tax Indaba at the Sandton Convention Centre.

Many South Africans worry about the country's high levels of crime; levels which, according to last week's release of the latest crime statistics, seem to be on the rise.

The Parliament’s Standing Committee on Finance is looking at 'creative' ways to increase the tax base, including tyre and electricity levies, and is intensifying work on double taxation agreements and legislation, in the hope of discouraging multinationals from exploiting loopholes. That was the message of MP Des van Rooyen, chairman of the committee, during the recent Tax Indaba in Sandton.

The Office of the Tax Ombud should become completely independent from SARS, according to Tax Ombud Bernard Ngoepe. The retired judge announced his demands in a keynote speech during the Tax Indaba at the Sandton Convention Centre on 7 September 2015.