Absa is one of Africa's largest diversified financial services groups.
The future of banking is invisible, reveals webinar
Absa CIB experts revealed how client-centricity, technology and partnerships are shaping the future of banking.
It is time to rethink how we do trade, say Absa’s Abdul Yassim and Ruth Ngulube
Absa’s Abdul Yassim and Ruth Ngulube unpack Covid-19’s effects on trade and how it will bounce back.
Absa CIB to participate in the Finance Indaba Network
The award-winning Pan-African bank has joined the lineup for the Finance Indaba Network.
Asathi Magwentshu: Rebosis Property Fund
Asathi Magwentshu has been the acting chief financial officer of Rebosis Property Fund since August 2020.
Group FD Jason Quinn says Absa revenue remained resilient despite Covid-19 impact
Jason Quinn: Absa's capital and liquidity levels are strong and will allow us to support our customers.
Sasfin appoints Karien Jones as COO of group finance
Karien will be responsible for assisting the finance team with financial operations, like reporting.
Rebosis Property Fund appoints Asathi Magwentshu as acting CFO
Asathi will be taking over from Isabeau King, who has resigned as the company's CFO.
DPD Laser CFO Auvasha Moodley making the right moves
Auvasha Moodley leads on the dancefloor as she does in life; with elegance and determination.
Barclays given go-ahead to open private banking services for South Africans
The Financial Sector Conduct Authority has granted Barclays a licence to offer private banking.
Stanlib CFO Avashnee Ramdial gets candid about culture
Avashnee Ramdial has learnt that finance departments don't deliver well if their culture isn't cohesive and collaborative. She explained how she got this right as the CFO of Stanlib, based on a similar process in her prior role at Absa, and how she is keen to share the learnings from the hardships she has faced with other women in finance, in an interview with Georgina Guedes.
Absa group FD Jason Quinn: We are putting an important chapter of our history behind us
Absa has completed its separation from Barclays and emerges an independent African bank.
CFO Award nominees celebrated at CFO Community Conversation
The discussion also featured lessons for business from nature with biomimicry expert Claire Janisch.
South Africa's manufacturing industry falls to all-time-low due to lockdown
Business activity in South Africa's manufacturing industry fell to 46.1 percent in April.
CFO Cares: Luyanda Gidini changing the face of accountancy and finance in South Africa
The Metropolitan Trading Company CFO is on a mission to boost the number of black CAs in SA.
Seven CFOs on preparing the next generation to fill their shoes
The role of mentoring is becoming increasingly important in an ever-changing work environment.
Finance flash: the TOP-10 articles of week 16, 2020
Want to stay up to date with the latest developments in finance, but short on time? Don't worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
South Africa's big bank executives forego 30 percent of their salaries
Absa and FirstRand executive directors and prescribed officers take salary cuts to help Covid-19 fight.
Sun International's Norman Basthdaw nominated for 2020 CFO Awards
Norman has worked in a variety of sectors, ranging from banking to hospitality.
Telkom's Tsholofelo Molefe nominated for 2020 CFO Awards
Tsholofelo's journey to group CFO of Telkom has been rough, but well worth it.
Finance Meets HR Summit reveals: Finance and HR need to get into bed together
When you put people and finance together, you can create beautiful value for business.
2020 CFO Awards interview week reveals excellent calibre of nominees
Nominees share their insights about staying agile and thinking outside the box at the CFO Awards interviews.
Five CFOs reveal the advice that they would share with their younger selves
Take risks, share ideas, and don't doubt yourself were high on the list of encouraging messages.
Absa's Jason Quinn nominated for 2020 CFO Awards
Jason has been with Absa for more than 12 years and serves on various committees within the group.
Land Bank appoints Sydney Soundy as acting CEO
The appointment comes as the search for a permanent CEO is at an advanced stage.
M&A Roundup: Anglo American to take over Sirius Minerals and Absa to expand into Africa
Also: MTN raises R14 billion and Takeaway.com almost victorious in takeover battle with Just Eats.
Absa officially announces the appointment of Aaron Daniel Mminele as its new CEO
Mminele is "looking forward to leading the exciting journey that Absa has embarked on".
Flashback: These leading finance executives won the coveted trophies at the CFO Awards
Six of South Africa's finest finance professionals walked away with awards on the evening of 15 May.
IFRS 9 and bank credit loss explained
Richard Crecel and Daniela Thakkar: banks must act as credit loss remains divergent under IFRS 9.
Absa appoints Cheryl Buss as CEO of its international operations
Cheryl said this is a pivotal moment in terms of Africa's relationship with the wider globe.
Bowmans CFO Jo-Ann Pohl connects the corporate world to meaningful philanthropy
Bowmans CFO Jo-Ann Pohl supports the non-profit organisation Charities Aid Foundation Southern Africa in her personal capacity. She believes in using her technical finance, strategy execution, and reporting skills to not only build her career but to also uplift disadvantaged people.
Reports say that Absa board has approved Daniel Mminele appointment as CEO
Former SA Reserve Bank deputy governor Daniel Mminele to serve as Absa CEO from 2020.
Inspirational speakers, outstanding networking opportunities at the CFO of the Future Summit
CFOs seized the opportunity to think, learn and most importantly to share experiences with their peers.
M&A Roundup: Absa sells Edcon store card stake and Prosus to invest in India
Also: IHS Holdings, Investec Australia Property Fund, MAS Real Estate and Fairvest make headlines.
Bank CFOs salaries increased by more than double from 2008 to 2018
A recent analysis of bank executive remuneration looked at how executives' salaries have changed.
Angela Pillay: Happy to be telling Sasfin's "good news" story
One year after she was appointed as Group CFO of Sasfin, Angela Pillay chatted to Georgina Guedes about being part of CEO Michael Sassoon's new vision for the bank, and being able to deliver an excellent set of results in her first year.
Being a CFO is all about being flexible and able to adapt to change says Nilza Mngomezulu
The Global Alliance Seguros SA CFO discusses the challenges of her role - which include cyclones.
Absa CIB Excellence Award winner Shumani Tshifhango takes his mother to Mexico
Absa CIB junior market risk analyst Shumani Tshifhango was awarded for "playing a shaping role in society".
CFO Awards 2019 nominees reflect on the rigorous judging process
These nominees looked back on the months following up to and the night of the 2019 CFO Awards.
EOH board welcomes chief risk officer Fatima Newman as executive director
Fatima has already played a meaningful role in the forensic investigation lead by ENSAfrica.
New Development Bank CFO Leslie Maasdorp talks about living a life with purpose
Leslie says he hopes to use his international expertise to benefit South Africa in the years to come.
Troubled PIC gets new board, five months after former board en masse exit
Finance Minister Tito Mboweni has appointed an interim board of directors at the PIC with effect from 12 July.
Investec Specialist Bank CFO Marlé van der Walt: "I thrive on change"
On 8 March, International Women's Day, Investec South Africa launched its "Women on the Rise" campaign, highlighting its relationship with women in business, education and sport. As part of the launch, Investec introduced the public to its newly appointed Specialist Bank CFO Marlé van der Walt. CFO South Africa spoke to her about her finance leadership experiences.
NOSA: Pieter Erasmus
Pieter Erasmus has been the chief financial officer of NOSA since May 2018.
18 outstanding nominees. Who will be South Africa's 2019 CFO of the year?
The votes are in. South Africa's CFO of the Year 2019 will be revealed on 15 May.
Redefine Properties appoints Sipho Pityana as independent non-executive chairperson
Sipho has stepped into the role of independent non-executive chairperson as of 3 May.
Capitec founder Riaan Stassen will be retiring as non-executive director
Santie Botha takes over from Capitec founder Riaan Stassen as non-executive director
Special feature (part 2): Telepresence technology may cost many jobs in future
Before robots enter the workspace, a huge uptake of remote work is likely, reports Kate Ferreira.
Workday making waves in the South African market
Co-president Chano Fernandez says a large Absa implementation is just the beginning of the journey.
Sasfin reports a 58.75 percent growth in half-year headline earnings
Group FD Angela Pillay says she is fortunate to be able to tell a good news story.
Jaco Maritz, Syspro CFO, meets Jaco Maritz, Acacia CFO
CFO South Africa introduced the two CFOs to clear up who's who in the Jaco Maritz zoo.
Marlé van der Walt appointed Specialist Bank CFO at Investec
Marlé's is the eighth women to be appointed to the Investec Group Management Forum team.
Damco: Auvasha Moodley
Auvasha Moodley has been the chief financial officer of Damco since February 2017.
Air Liquide: Mpho Mashile
Mpho Mashile has been the financial director at Air Liquide since September 2017 until October 2018.
Tsholofelo Molefe explains how she said no to Gupta and co while at Eskom
The Telkom CFO says: "You need to act beyond reproach, never compromise your integrity."
Flashback: CFO of the Year Award 2014 winner Simon Ridley
Former Standard Bank CFO Simon Ridley won the CFO of the Year Award at the 2014 CFO Awards.
Maria Ramos to retire as Absa CEO at the end of February
The CEO says that it was never her intention to stay for this long.
CFO Awards judging kicks off with three days of nominee interviews
Awards Judges impressed with the calibre of the nominees interviewed ahead of the 15 May ceremony.
M&A Roundup: Naspers, Absa and struggling Edcon make headlines this week
MultiChoice to list on JSE, Edcon hopes for PIC funding and Absa joins with French bank.
Jason Quinn nominated for CFO Awards 2019
Absa's financial director Jason Quinn has been nominated for the CFO Awards 2019.
M&A Roundup: Rio Tinto, Exxaro, MTN in the headlines
Also, Intu Properties takeover fails, Tawana Resources merging with Alliance Mineral Assets and more.
Absa's Annah Watkinson: balancing triathlons and banking
The CA says she feels like a superhero, living a dual life at the bank and on the road.
Charles Russon and Paul O'Flaherty moving up in Absa
Charles Russon appointed to Absa Corporate and Investment Banking. Paul O'Flaherty to head Engineering Services.
EY and Deloitte to replace KPMG as Nedbank's external auditors
KPMG chairman Wiseman Nkuhlu commends the dilligence and professionalism of the team who served Nedbank.
EY underscores commitment to knowledge sharing with CFO Summit Partnership
EY will be a partner at the CFO Summit - delivering unparalleled learning and networking opportunities.
Patrick Jodas moves to Australian P&N Bank
Patrick Jodas has been appointed as the CFO at P&N Bank as of October.
South Africa retains top position on Absa Financial Markets Index
While retaining top position overall, South Africa did lose ground in two important metrics.
Absa - Virtual payments help to eliminate fraud
Absa's Virtual Pay generates a single-use account number for each transaction, explains Julie Hayes.
CFO South Africa finalist in 2018 Thomson Reuters Excellence Awards
Judges say that the work CFO SA does with Thomson Reuters is empowering Africa's success.
Technology is reducing office spaces and potentially saving jobs
The square meter per person of office space has already reduced in many major SA corporates.
Avashnee Ramdial new CFO at STANLIB
Avashnee Ramdial has been appointed as chief financial officer at STANLIB, effective 1 October.
Mariette Ebersohn new Nauru Airlines CFO
Australian Nauru Airlines has appointed South African Mariette Ebersohn as its new CFO.
18 hottest FinTech speakers in SA on stage during Finance Indaba
Banks, innovators, experts, techies, consultants and accountants among the experts who will show you where your future revenue will come from.
Network with newly rebranded Absa at Finance Indaba 2018
Absa Group is one of Africa's largest diversified financial services groups.
Christine Ramon: Empowering women leaders
AngloGold Ashanti CFO and winner of four CFO Awards discusses work, women, ethical leadership and family this Women's Month.
Resist the urge to cut back in tough times
When times are tough, many companies and organisations instinctively want to tighten their belts - and this often means cutting down on executive training and marketing spend.
Attacq: Raj Nana
Raj Nana has been the chief financial officer and executive director of Attacq since 19 June 2018.
Standard Chartered Bank South Africa: Harriet Heymans
Harriet Heymans has been the Chief Financial Officer of Standard Chartered Bank South Africa since March 2017.
Amazon Web Services launches new Cloudfront Edge server location in SA
Amazon Web Services has announced the launch of a new Amazon CloudFront Edge location in Cape Town.
Absa begins new era with brand refresh
Absa has overhauled its look and mission and changed its name as the bank enters a new Afro-centric era.
Standard Bank named best bank in Africa
The Banker has released a list of the world's top 1,000 banks, on which five South African banks are named.
Ipsos (South Africa): Shan Vorster
Shan Vorster has been the Chief Financial Officer of Ipsos South African division since July 2016.
Telkom: Tsholofelo Molefe
Tsholofelo Molefe took up her role as chief financial officer of Telkom on 1 July 2018.
FNB wrests best digital bank title from Capitec
FNB is once again the best digital bank in the country, according to Columinate's latest SITEisfaction survey.
Hollard Insurance Group: Willie Lategan
Willie Lategan has been the Chief Financial Officer of Hollard Insurance Group since November 2015.
Sun International: Norman Basthdaw
Norman Basthdaw has been the Chief Financial Officer of Sun International since 24 March 2017.
Barclays Africa parts ways with KPMG
Barclays Africa Group will no longer be using KPMG as its joint auditors.
Land Bank: Bennie van Rooy
Bennie van Rooy has been Chief Financial Officer at the Land Bank since June 2015.
Sanlam seals deal that makes it Africa's largest non-banking financial services group
Sanlam's acquisition of SAHAM Finances has a pricetag of R12.5 billion.
National Treasury: Silindile Kubheka
Silindile Kubheka has been acting accountant general of National Treasury since 2019.
Andulela Investment Holdings: Johannes Engelbrecht
Johannes Engelbrecht has been the Chief Financial Officer and Executive Director of Andulela Investment Holdings since 1 October 2015.
TWK Agri FD Eddie Fivaz talks finance, farming and the Free State
Today's trying times require us to be the absolute best that we can be, says TWK Agri's Eddie Fivaz.
Renergen: Fulufhedzani "Fulu" Harriet Ravele
Fulu Ravele has been the Chief Financial Officer of Renergen since November 2015. She is also the Director of Tetra4.
FNB ranked South Africa's most valuable banking brand
FNB has surpassed Standard Bank in the ranking of most value banking brand in South Africa.
Ansys: Elvin Collin de Kock
Elvin de Kock has been Chief Financial Officer and Executive Director for Ansys since 8 January 2018. He is also the Non-Executive Director of Bryte Insurance Company.
Lebo Gunguluza launches digital bank
Azar Bank will be South Africa's first 100% black-owned digital bank
The CFO is the wingman to the CEO and the business, says Lushen Pather
We talk to Lushen Pather, who recently announced a move to SARB, about his time as Sasfin CFO.
Three new executives for Alexander Forbes, including a Group CFO
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).
Entersekt receives cash windfall
South African FinTech Entersekt has received a multi-million-dollar cash boost to fund its global expansion.
I want to be part of professionalising government, says National Treasury CFO, Silindile Kubheka
“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.
SA FinTech Synthesis acquired for R132m
JSE-listed speciality finance company Capital Appreciation has acquired FinTech firm Synthesis for R132,1 million.
Sasfin bullish despite earnings hit
Bank controller Sasfin Holdings suffered losses to its headlines earnings per share from 334,43 cents to 271,41 cents and reduced its dividend by 18,84% to 80 cents per share after a tough six months to 31 December 2016, marked by credit losses and a write-down in its Efficient Group investment.
Going on the digital offensive: WATCH ABSA's Brett St Clair at #afta16 #findaba16
It may be fashionable to talk about disruptive startups when describing the FinTech scene, but its story also covers traditional banking institutions that have made great strides in delivering a digital banking experience to their customers and overcoming cultural and bureaucratic challenges in the process.
Sarb imposes administrative sanctions on two banks
The South African Reserve Bank (Sarb) has imposed administrative sanctions on Société Générale Johannesburg Branch (Société Générale) and Absa Bank Limited (Absa), directing the two banks to take remedial action. This was after the SARB conducted inspections in terms of the Financial Intelligence Centre Act (FIC Act) and found weaknesses in the anti-money laundering and combating the financing of terrorism control measures of both entities.
ABSA Capital, RMB and Nedbank big winners at JSE Spire awards
ABSA Capital, Rand Merchant Bank (RMB) and Nedbank took home big awards at the 15th annual Spire awards, hosted by the JSE. ABSA Capital, RMB and Nedbank were crowned winners of the Best Bonds House, Best Fixed Income and Currencies House, Best FX House and Best Research House and Best Interest Derivative House respectively. RMB alone took home a total of 11 awards on the evening. Bernard Claassens (pictured), Manager: Fixed Income at the JSE, said:
Finance Indaba: programme African FinTech Awards 2016 - #findaba16 #afta16
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.
Mandatory Audit Firm Rotation is a good thing, says Nkonki's Mitesh Patel
“It is simply staggering that of the 353 audit partners who sign off on the financial statements of all JSE-listed companies, only nine are Black African – that’s just 2.5%,” says Mitesh Patel, Managing Director of Nkonki, a 100% black-owned audit and advisory firm. “Given the transformation imperative within the broader South African corporate context and our profession as a whole, there can be no doubt that Mandatory Audit Firm Rotation (MAFR) will assist in driving the transformation agenda.”
Changing mindsets and looking to the future, a chat with Brigid Mosola, Walter Sisulu University CFO
“When I came on board the staff were demotivated and unproductive. There was no teamwork and they did not trust in each other. It was a disaster,” says Brigid Mosola, CFO of Walter Sisulu University (WSU). In this exclusive interview with CFO South Africa, Brigid, who has been CFO for around 18 months, and who was recently placed on a precautionary suspension by the University’s new Vice Chancellor pending charges, speaks candidly about the state of the university’s finance department, the challenges of restructuring and building staff morale, and making unpopular decisions.
Meet Simon Ridley (Standard Bank), recipient of a Lifetime Achievement Award at the CFO Awards 2016
CFO South Africa chose to honour Simon Ridley (pictured), recently retired FD of Standard Bank and CFO of the Year 2014, as well as esteemed member of this year’s judging panel, by presenting him with a Lifetime Achievement Award at this year’s CFO Awards. Unfortunately, Simon was unable to accept the award in person and spend the evening celebrating with his peers, as he was touring Namibia on a motorbike at the time of the event. Simon’s colleague, Luvuyo Masinda, CFO Corporate and Investment Banking (CIB), accepted the award on his behalf. Masinda said:
Absa enables customers to transact over Twitter
Absa Bank recently launched its innovative Absa ChatBanking option, allowing social media-savvy customers to conduct certain banking transactions via Twitter.
Quietly confident about deals in 2016, says KPMG's M&A guru John Geel
KPMG’s M&A guru John Geel says he is “quietly confident” that 2016 is going to be a good year for mergers and acquisitions in South Africa. In an exclusive interview with CFO South Africa he reveals that he expects the number of deals to be “at least equal to last year, if not more”.
KPMG's Ahmed Jaffer: The best finance leaders have an external outlook
"I am a firm believer that more CFOs should go outside of the finance department to see what is going on in the rest of the business and outside of it," says Ahmed Jaffer, long-time Partner and Chairman of the Board at KPMG in South Africa.
Barclays to sell Zimbabwean arm
In the wake of its recent announcement that it was reducing its 62.3% stake in Barclays Africa, Barclays plc has announced its intention to exit its Zimbabwean operations.
Gov should help black investors to buy Barclays Africa, says Vusi Thembekwayo
The decision of Barclays Plc to sell down its 62.3% interest in Barclays Africa could be great for the African continent, says entrepreneur and investor Vusi Thembekwayo. He says the “South African government should step in” and create an opportunity for “a cohort of black investors that are pro-development and behind the National Development Plan”.
Barclays to leave Africa
British bank Barclays has announced plans to gradually reduce its majority stake in the group's African unit due to net losses having more than doubled last year.
Judges 2016 CFO Awards swap notes during exclusive dinner
The mood was warm and jovial during an exclusive dinner for the panel of judges of the 2016 CFO Awardsand winners of last year's awards, hosted by CFO South Africa at the Hyatt Regency Hotel in Rosebank on 27 January 2016. The gathering allowed the judges to prepare for the judging process for this year's prestigious awards, but - most of all - gave them an opportunity to catch up and network. The dinner brought together the CFOs of the Year from 2014 and 2015, Simon Ridley (Standard Bank) and Deon Viljoen (Alexander Forbes), and a host of other business leaders.
From private equity to leadership... Mpact CFO Brett Clark
“It is tempting as a CFO to get involved in every urgent issue affecting the business, because finance encompasses so many parts of the business," says Brett Clark, the CFO of Mpact and one of the nominees of the 2015 CFO of the Year Awards. “However, I believe a good CFO needs to create the time to analyse the information available in the business, visit the operations, debate issues with team members and focus on the key areas affecting the business.”
David Hodnett, with Barclays Africa to 'fully international, fully regional and fully local'
As deputy chief executive officer and finance director, David Hodnett is the right hand of CEO Maria Ramos at Barclays Africa. In an exclusive interview with CFO South Africa, he speaks about his love for detail, his relationship with Ramos and the creation of Barclays. He also reveals how he very deliberately chose to plot his career path via risk management roles and why he sees the way he deals with people as a reason for his success. “I believe in accountability and giving people space to operate.”
Thundafund CEO Patrick Schofield sees role for crowdfunding in FinTech
After the incredibly successful FinTech Africa event in Cape Town on 20 October 2015, our reporter Ebrahim Moolla spoke to Patrick Schofield, CEO of crowdfunding platform Thundafund. They spoke about the event, the role crowdfunding can play for FinTech and his take on social entrepreneurship.
Meet South Africa's FinTech rock star, Tobie van Zyl
Tobie van Zyl is as close as it gets to a FinTech rock star from South African soil. He started and exited multiple successful companies, consults for promising startups and is now eyeing a global mobile banking venture. In the runup to our landmark FinTech event in Cape Town, our reporter Ebrahim Moolla spoke to Tobie about the challenges and opportunities of doing business in South Africa.
CFOs are myth busters, says retiring Standard Bank CFO Simon Ridley
“As CFOs we need to be trusted advisors, rather than critics,” says Simon Ridley, CFO at the Standard Bank Group and last year’s CFO of the Year. In an exclusive interview with CFO South Africa, Ridley talks about the myth busting responsibility of CFOs and CAs, the charm of over-disclosing, the reason everybody at the bank knows his mother and about being the perfect business partner: “You can’t just throw stones at a problem.”
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Press release: Absa secures two more digital banking awards
Absa has been recognised for its digital banking offering at the Global Finance Digital Innovator Awards.
We are a leading corporate and investment bank in and for Africa, backed by JSE-listed Absa Group Limited, our client portfolio includes global and Africa-based multinationals, global corporates, large local corporates, public sector and institutional clients, as well as financial institutions and global development organisations. We are able to service our global client base through operations in 12 African countries, as well as through our representative offices in London and New York.
One of the key differentiators for Absa has been its investment in world-class technology which has allowed it to compete across the globe. We have been recognized by Euromoney for our leadership response to the COVID-19 pandemic, and have received accolades by Global Finance for Best Trade Services and Best Online Portal in Africa.
The Group has introduced the Absa Trade Hub to facilitate corporate, SME and institutional trade flows and financing into, out of and within the entire African continent through our subsidiaries and correspondent network. With vast experience in financing both domestic and international trade, we provide solutions that help manage the various risks involved in trade. In today’s complex operating environment, you need seamless, digital-first solutions delivered in the simplest, most efficient manner – so that you can get business done.
We remain committed to understanding your business ambitions. Through our Corporate and Investment Banking business, we have the ability to leverage our experience, relationships and footprint across Africa, so that together, we can achieve business growth across the continent.
For further information about Absa Group Limited, please visit cib.absa.africa
Phone: 08600 08600