Absa is one of Africa's largest diversified financial services groups.
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.”
Gustav Raubenheimer appointed as CFO of African Bank
As of end July 2015, Gustav Raubenheimer is CFO Designate of Good Bank (African Bank) and its new holding company.
Simon Ridley retires - CFO of the Year 2014 to leave Standard Bank
Standard Bank Group CFO Simon Ridley will retire next year April. By then he will be 60 years old, the retirement age for executive directors at the bank. On Friday joint CEO Ben Kruger said Standard Bank has not decided on Ridley's successor yet. During the same press conference Ridley announced that the Group has achieved R10.5 billion headline earnings for the group.
Hollard CFO Brooks Mparutsa goes international, replaced by Absa ace
It has never been a secret that Brooks Mparutsa has international ambitions. He told me as much during the candid CFO of the Week interview that we published earlier this year. Brooks, who was nominated for the 2015 CFO Awards, has a real passion for Africa and a recent executive reshuffle at the Hollard Insurance is making is possible to follow his dreams, with Brooks being appointed Executive Director: International from 1 January 2016.
Denel CFO Fikile Mhlontlo: from bailouts to superiority
Denel CFO Fikile Mhlontlo has been instrumental in cost cutting, efficiency drives and improving financial ratios. Together with the other executives he has changed the state-owned aerospace and defence technology conglomerate from a loss-making public enterprise into a successful, profit-making company with an increasingly international focus. Denel’s international image is now superior, says Mhlontlo. “The strategy of decentralisation and partnering has worked wonders.”
Simon Ridley, Standard Bank: Curiosity breeds good CFOs
“As CFOs we need to be trusted advisors, rather than critics,” says Simon Ridley, CFO at the Standard Bank Group and CFO of the Year 2014. In the run up to this year’s CFO of the Year gala, we are publishing a short version of the interview we had with Simon for the first issue of the brand new CFO Magazine – which will be launched during the CFO conference and awards event on 14 May.
CFO Profile: Brooks Mparutsa | Hollard
Brooks Mparutsa | Chief Financial Officer | Hollard Group
CFO Profile: David Hodnett | Barclays Africa
David Hodnett | Chief Financial Director | Barclays Africa Group
CFO Profile: Brett Clark | Mpact
Brett Clark | Chief Financial Officer | Mpact
CFOs of Barclays Africa, Discovery Health, Transnet and Santova interviewed for awards
March is the month that the judges for the CFO Awards 2015 interview most of the nominated CFOs, with the event - a conference and gala dinner - taking place on 14 May. Just in the last three days, the judges have spoken to the finance bosses of a bank, a health insurer, a state-owned company and a logistics business.
News: Shock after resgination SAB Miller CFO Jamie Wilson
The sudden resignation of SAB Miller's Chief Financial Officer Jamie Wilson has got a lot of people thinking. First of all, many people are wondering if his departure is linked to the rumoured bid the world's largest beer brewer Anheuser-Busch InBev apparently wants to make for SAB Miller, the global number 2. Second of all, and this one is particularly relevant for the CFO Community, is that is clear that CFO appointments and departures set tongues wagging these days.
CFO of the Week Talelani Enos Ramaru (Cosatu): learning from other CFOs is very valuable
“A platform like CFO South Africa is very useful,” says Talelani Enos Ramaru, Chief Financial Officer at The Congress of South African Trade Unions (COSATU). “There is a lot of innovation happening and as a CFO you have to know about it,” says Ramaru, who is proud of the work he has done to bring stability to the trade union federation’s finance team.
CFO of the Week: Tsholofelo Molefe, CFO at Eskom: success comes through focus
Her proudest professional moment was the presentation of Eskom’s Annual Results announcement and the financial sustainability plan to key stakeholders, says Tsholefelo Molefe, Chief Financial Officer (CFO) at the public electricity utility. “Eskom is always in the spotlight and as it took a while to fill in the Finance Director permanently after my predecessor Paul O’Flaherty left, my very first challenge was to make sure that I pull the Finance team together to remain focused so that we could deliver a successful annual report, which continues to receive a string of awards on Excellence in integrated reporting. I am proud that our integrated report tells our story in a way that helps people understand what the company is about.”
Inspiring meetings with CFOs of Eskom and Minerals department
It is widely agreed upon that what South Africa needs is inspiring leaders, most of all in the public sector and at parastatals. That this country is not short of the individuals who have been cut from the right cloth, became once again apparent during our recent meetings with Rofhiwa Irene Singo and Tsholofelo Molefe. These two impressive ladies have made the Chief Financial Officer role their own at the Department of Mineral Resources and at public electricity utility Eskom and both contribute to a better South Africa to the best of their capabilities.
Standard Bank's Simon Ridley named CFO of the Year 2014
CFO Profile: Simon Ridley | Standard Bank
Simon Ridley | Chief Financial Director | Standard Bank
Kuda Makoni, Manager at Deloitte Consulting: Innovation is not optional
“The financial sector in South Africa is world class, and as a result faces similar challenges to the ones prevalent in more developed economies,” says Kuda Makoni, strategy and innovation manager at Deloitte Consulting. “However, South Africa is a developing nation which means our local CFOs also deal with some unique country-specific challenges”
Upcoming 5th CFO South Africa Event on Managing Corporate Growth
The 5th CFO South Africa Event will take place on October 3rd 2013, titled 'Managing Corporate Growth.' CFO South Africa, in collaboration with Oracle, CQS, Transparent, IQ Business and ReadSoft, is organizing this event at one of the top-rated hotels in the world, the Saxon Boutique Hotel in Sandton.
Mariette Ebersohn - CFO Mango Airlines: `Goodbye bean-counter, hello unpredictability`
"The CFO position was traditionally a “bean-counting” job primarily responsible for various accounting, reporting and budgeting exercises. Nowadays, the role is much more unpredictable with a number of additional expectations raised beyond traditional technical accounting and regulatory field of expertise." After having interviewed a great number of male CFOs, we are proud to introduce to you the first female CFO in our series. We wonder - would she have a different view on the industry, her role, the world? We'll find out. Please meet Mariette Ebersohn, CFO of Mango Airlines - South Africa’s leading low-cost airline. The airline was launched on 30 October 2006 with bookings going on sale at midnight on the same date; its first flight took place only two weeks later. Mariette joined Mango’s team in August 2008.
Henk Engelbrecht - CFO StratCorp: "The CFO needs to be a strategic thinker who understands the relationship between all the components of a business, its environment and the broader economy"
Henk Engelbrecht has only been acting as Group Financial Director of StratCorp since March 2011. It has been an interesting time so far. “I am a firm believer in not accepting the status quo and to always look at every aspect of the business critically to establish if there are better and more efficient ways of doing business.”
JSE's most valuable company
British American Tobacco (JSE:BTI), a company that regulators worldwide tried to kill, has become the JSE’s most valuable company with a market capitalisation on March 1 of R765bn. That is 44% more than the value of runner-up BHP Billiton (JSE:BIL), the world’s top mining stock.
Tjaart Kruger - CFO African Dawn Capital: `The sky is the limit`
“When you are working in limited resource environment as transpires in a turnaround situation it becomes counterproductive. The CFO will in future have to force himself to strategically focus on business,” says Tjaart Kruger, CFO of African Dawn Capital. “It has become a very complex and highly regulated environment in the listed environment.” Skills herein are vital, yet not always present. “A major weakness that I have encountered in education is that no amount of theory prepares the finance professional for the realities of business itself. Business acumen is that ingredient that makes a good finance professional great.”
Rudolph Torlage - CFO ArcelorMittal: `From the score keeper to a business partner and key member of strategy`
“The role model in my life? My personal assistant Annatjie: she is always positive and encourages me when I’m down.” Meet Rudolph Henry Torlage, the Chief Financial Officer of South Africa’s leading steel producer ArcelorMittal. Why don’t all CFOs value their PA’s as much as Rudolph, we wonder.
Bennie van Rooy - CFO JD Group: `Strategic targets will be broken down into components`
JD Group wants to “to be world-class in our fields of expertise”. It is strategically positioned in Southern Africa as a leading diversified mass consumer financier and a differentiated furniture, appliance, electronic goods, home entertainment and office automation retailer. The Group primarily targets the mass middle market with a secondary focus on the top and bottom end market segments. The Group operates 1138 stores across Southern Africa and Poland. JD Group was listed on Johannesburg Stock Exchange in 1986 and has a yearly turnover of R15.7bn, made possible by over 25.000 staff members.
Bafokeng reaps rewards of persistence in R5.4bn deal
One of the measures of a good business book is how much you remember years after reading it. By that measure, Mark McCormack book on Negotiating rates highly. The founder of the world’s dominant sports agency IMG shared many of his experiences, all of which led to the conclusion that the best deal was one where everyone walks away with a smile on their faces. Never screw over the other side, he advised. It will always come back to bite you. The best deals are those when everyone feels they have given up a little more than they were able to take.
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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