Deloitte is provides collaboration services for finance professionals.
Standing up for what's right - public sector CFOs discuss leadership and fear
A round table for public sector CFOs took a fascinating turn when one of the participants told how she had stood up against wrongdoing and taken her superiors to court. Hosted by CFO South Africa and partner KPMG the discussion on 15 March 2016 at the Marion on Nicol focused on leadership, and specifically asked whether good leadership and its relationship with fear.
Meet CFO Awards 2016 nominee Osman Arbee, CFO of Imperial Holdings
Osman Arbee | Chief Financial Officer | Imperial Holdings
Meet CFO Awards 2016 nominee Suren Maharaj, CFO of Pikitup
Suren Maharaj | Chief Financial Officer | Pikitup
Meet CFO Awards 2016 nominee Andrew King, CFO of Mondi Group
Andrew King | Chief Financial Officer | Mondi Group
Edson Magondo (KPMG): diplomatically discuss inconvenient truths in public sector
Proteas grow in tough terrain and a lot of patience is required before seeds can be harvested and sown again. There are surprising parallels with the growth of black accountants in South Africa – and with Edson Magondo’s own rise to prominence, as we discover during an exclusive interview with the man who heads the KPMG service offering for government, infrastructure and healthcare.
Clean books and clean streets: Suren Maharaj at Pikitup
Inheriting the wonky books of a government-owned company known for its shoddy service delivery and corruption sagas involving many staff members including the senior management is not everyone’s cup of tea, but the Durban-born CA Suren Maharaj was clearly up to the task. He managed to turn around Pikitup, the waste management company of the City of Johannesburg and turn an organisation with disastrous financials into a success story.
Optimising performance now key for local CFOs, says Deloitte
South African CFOs expect to spend much more of their time on performance optimisation, something that barely registered on their agendas last year. That is one of the conclusions of the Deloitte CFO Report 2015, which was published this week. In East Africa the most pressing issue on the radar is growth. West African CFOs are noticing a focus on the optimisation of their capital and funding structures.
Nominee CFO Awards 2015, Cobus Grove, CFO Digicore
Cobus Grove is nominated for the CFO Awards 2015. The factsheet below together with his interview with the panel of judges will be used to determine the CFO Award winners 2015.
Nominee CFO Awards 2015, Casper Troskie, CFO Liberty
Casper Troskie is nominated for the CFO Awards 2015. The factsheet below together with his interview with the panel of judges will be used to determine the CFO Award winners 2015.
CFO Profile: Imraan Soomra | Oceana Group
Nominee CFO Awards 2015, Robbie Taylor, CFO Ascendis Health
Robbie Taylor is nominated for the CFO Awards 2015. The factsheet below together with his interview with the panel of judges will be used to determine the CFO Award winners 2015.
Nominee CFO Awards 2015, Megan Pydigadu, CFO MiX Telematics
Megan Pydigadu is nominated for the CFO Awards 2015. The factsheet below together with her interview with the panel of judges will be used to determine the CFO Award winners 2015.
CFO Profile: Paul Schmidt | Gold Fields
Paul Schmidt | Chief Financial Officer | Gold Fields
Nominee CFO Awards 2015, Anoj Singh, CFO Transnet
Anoj Singh is nominated for the CFO Awards 2015. The factsheet below together with his interview with the panel of judges will be used to determine the CFO Award winners 2015.
CFO Profile: Mohammed Hoosen Abdool-Samad | Illovo Sugar
Mohammed Hoosen Abdool-Samad | Chief Financial Officer | Illovo Limited
CFO Profile: David Edley | Santova
David Edley | Chief Financial Officer | Santova Limited
CFO Profile: Colin Brown | Super Group
Colin Brown | Chief Financial Officer | Super group Limited
Casper Troskie, Liberty: communication is key for modern CFO
“It is very important to understand how investors see the business, because if you don’t listen to them, you might miss important trends,” says Casper Troskie, Financial Director at financial services company Liberty. In an exclusive interview with CFO South Africa Troskie shares valuable advice for ambitious Chartered Accountants, recalls his proudest moments and elaborates on the culture change that Liberty has embarked on. “It has been a great journey, but I see the task only as a third of the way done.”
Expert Insight: Why the tweet are CFOs not online?
In this Expert Insight Fowzia Gamiet, Senior Associate: Financial Recruitment at CA Global Finance deals with the power of social media and calls on Chief Financial Officers to go online and tweet.
Lenore Kerrigan, Sales Director OpenText: preparing for the Digital First World
“As companies prepare for a Digital First World, the CFO will play a key role in providing the financial underpinning of this digital transformation, says Lenore Kerrigan, Sales Director for Sub-Saharan Africa at software company OpenText Corporation. “It is controversial, but in many companies CFOs are still mainly reporting on historic facts and figures. The role of modern CFOs, however, is forward looking and includes a very strong focus on understanding risk and financial growth. Our Enterprise Content Management (ECM) and Enterprise Information Management (EIM) systems can help them accomplish this.”
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: Rofhiwa Irene Singo: I am known as CFO Clean Audit
Popularly referred to as “CFO Clean Audit”, Rofhiwa Irene Singo leads the Finance Department at the Department of Mineral Resources, and has a remarkable story of perseverance to tell. Irene, as she prefers to be called, has been instrumental in turning around the failing financial reporting at three public institutions and prides herself in having achieved these under very difficult conditions. “I always knew that I could do it, hard and smart working paid the price. The name CFO Clean Audit resonates well with me and I like it,” she says.
Mike Brown, CEO Nedbank: Brilliant CFOs are persuasive
"The best CFOs are intellectually persuasive without being arrogant," says Nedbank CEO Mike Brown, a former Chief Financial Officer himself. In a candid interview with CFO South Africa Brown talks about himself, growth opportunities in the rest of Africa, the importance of small businesses to jumpstart the South African economy and the characteristics that set brilliant CFOs apart from merely solid ones. "You need to be able to read the tea leaves and persuade others about what this means for the future and what the organisation needs to do differently as a result."
Tyrone Soondarjee, Financial Director Sasfin: Carving out your role as CFO
“As a commercially-orientated CFO, I like to play a leading role in business which is why Sasfin is good fit for me. It offers opportunities to broaden my horizons and that is what appeals to me,” says Tyrone Soondarjee, Financial Director at Sasfin bank and the JSE-listed Sasfin Holdings Group. Speaking about the Group, Soondarjee says: “We understand entrepreneurs, because we are entrepreneurial ourselves.”
CFO Profile: Nichola Dewar | Postbank
Nichola Dewar | Chief Financial Officer | Postbank
CFO Profile: Anoj Singh | Eskom
Anoj Sing | Chief Financial Officer of Eskom until 22 January 2018.
CFO Profile: Megan Pydigadu | Telematics
Megan Pydigadu | Group Financial Director | Mix Telematics
CFO Profile: Jannie Serfrontein | Eqstra
Jannie Serfontein | CEO and CFO | Eqstra Holdings
CFO Profile: Colin Brown | Super Group
Colin Brown | Chief Financial Officer | Super group Limited
CFO Awards jury interviews CFOs of AfroCentric, Howden and Eqstra
Jury members of the 2014 CFO Awards on Tuesday interviewed three talented gentlemen, who have made a name for themselves as CFO. The interview series will inform detailed reports that will help the impressive team of jury members to choose the winners from a select list of nominated CFOs. The 7 prestigious CFO Awards will be handed out to the winners during a black tie event on May 15 at the beautiful Summer Place in Johannesburg. For more information visit cfoawards.co.za
Tanuja Naidoo, CFO Transnet Pipelines: Invest time in people
“My best contribution as a CFO is that I aim to develop leaders,” says Tanuja Naidoo, who has been in charge of finance at Transnet Pipelines since 2009. After turning around the finance department, she was recently tasked to do the same in procurement and risk management at their Durban headquarters. The key to every successful manager is investing time in people, she says. “That is something I live by. I lead by example.
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”
Lucas Ramagaga, CFO Total Client Services: Affecting people's lives
“What we do as finance directors and chief financial officers affects people’s lives,” says Lucas Orapeleng Ramagaga, 32-year old CFO at Total Client Services. “We deal with shareholders, but also clients, suppliers and our own employees – it is a big responsibility.” Having made short work of the corporate ladder, Ramagaga does not shy away from the task. “I have a high appetite for growth, so a future role as CEO, chairman doesn’t scare me – it will just be an opportunity to affect even more lives.”
Kuda Makoni, Manager at Deloitte Consulting: Innovation key for South African banks
Most challenges that CFOs of South African banks and financial institutions face are the same as elsewhere in the world, but there are a number of specific issues that plague finance leaders in the developing world and South Africa specifically. That is the message of Kuda Makoni, strategy and innovation manager at Deloitte Consulting. “The South African sector is world class, so it faces global problems,” said Makoni.
Come to the CFO South Africa Cafés in May
Don't miss it! The time for the next CFO South Africa Events is approaching. In May prominent financial professionals and directors will represent Cape Town’s and Johannesburg’s finest companies at the exclusive CFO Round Tables & Cafés on May 14th and 16th respectively.
Bonface Ndawala - Group Financial Control Executive Globacom: `Key issues in the industry of finance at the moment would be the impact of the debt crisis in Europe and America`
The fastest growing telecommunication company in sub-Saharan Africa, Globacom provides world class cutting edge technology and designs telecom solutions to suit the needs of various publics, irrespective of size. As a company, Globacom recently made history as the first single company to build an $800 million high-capacity fiber-optic cable, known as Glo-1. It is the first successful submarine cable from the United Kingdom to Nigeria; and it will decrease telecom costs and provide very reliable bandwidth to all the cities connected to the cable.
Anoj Singh - CFO Transnet: "The CFO is playing the role of Chief Strategy Officer"
Transnet is the largest and most crucial part of the freight logistics chain that delivers goods to each and every South African. The company is fully owned by the South African government but operates as a corporate entity aimed at both supporting and contributing to the country’s freight logistics network. It aims at developing South African industry, reducing the cost of doing business, while at the same time operating efficiently and profitably. Transnet employs 60,000 people and had a yearly turnover (for the financial year to March 31 2012) of R45 billion.
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.
Becoming the CFO of the future: the CFO's Toolbox
Ian Blackie - CFO Wesgro: "Advances in technology will put even more pressure on the CFO"
“I would expect people to be able to tell me why they are doing something in a certain way. If the answer is “because we’ve always done it that way”, it really tells me a lot about that person and their attitude towards the company and their work.” Ian Blackie, CFO of Wesgro, was initially placed at Wesgro in November 2010 by Deloitte one a short term contract. He calls himself ‘very fortunate’ to have been offered the position of CFO of the company, as he had been looking for an opportunity to move to the Western Cape for some time already. When he was officially appointed CFO, he withheld from making any drastic changes thus far.
Jannie Serfontein - CFO Eqstra: "A good CFO is able to see in the figures that which is not immediately obvious to others`
"Don't change something when it's working." That is exactly why Jannie Serfontein did not make any radical changes once he was appointed as CFO of Eqstra Holdings in January 2011. After completing his studies at the University of Pretoria, he qualified as a chartered accountant in 1998. He started his career at Deloitte & Touche in 1999 and spent two years in the United States of America in Deloitte & Touche’s Washington DC practice as part of their global development programme.
Lucas Ndala - CFO Bafokeng Holding: `Work hard, be flexible and have a never-die attitude`
Royal Bafokeng Holdings (RBH) is a leading South African community-based investment company. The company – with a turnover of R6 billion – is responsible for the management and development of the commercial assets of the Royal Bafokeng Nation, a 150,000-strong community of black South Africans and a turnover of R6 billion.
Mohammed Abdool-Samad - CFO Illovo: `The greatest challenge is the pace of recovery of the global market`
“My biggest achievement so far is a 7bn BEE transaction in the Coal industry, which took 3 years to complete.” His most valued achievement on behalf of Illovo Sugar Ltd. will follow soon, most likely. As of Sept. 2011, Mohammed Abdool-Samad was appointed Financial Director at Illovo, replacing Karin Zarnack, who was appointed CFO at Unilever South Africa.
Tyrone Soondarjee - CFO Sasfin Bank: `Use your position to improve quality decision matters in defining the future of a company`
Supplement your qualifications with solid practical experience and ensure continuous professional development to stay relevant in a fast changing global economy. That is the vital advice given to you by Tyrone Soondarjee, CFO of Sasfin Bank, when asked what vital piece of advice he would give ambitious finance professionals who 'want to make it big' in the industry. Like himself, in a way.
Break up the big-four auditors?
The SA Institute of Chartered Accountants (Saica) has decided not to comment on European moves to curb the dominance of the big-four auditing firms but standards boss Ewald Muller says EU commissioner Michel Barnier is “smoking his socks”. Spokesperson Bontle Sikwe said Saica has nothing to say. The accounting institute is in the invidious position of having the Big Four and thousands of smaller members. The Big Four pay by far the biggest subscriptions and contribute the lion’s share of Saica’s vital Thuthuka educational project. But while Saica won’t comment Ewald Müller, senior executive, standards, told me Barnier was on “a one-man crusade” and “over the top”.
Chris Beukman - CFO Deloitte: `Good people skills are a necessary requirement to be successful`
CFO South Africa interviewed a large number of CFOs and CEOs of leading South African companies. Meet Mr. Chris Beukman, CFO of Deloitte, one of South Africa’s leading professional services firms staffing over 3700 employees. Chris matriculated in 1968 in Pretoria and completed BCom (Acc) (Hons) at University of Pretoria in 1973. He joined Pretoria based accounting practise Van Geusau, Coetzee & De Wit as a trainee accountant in 1973 and was qualified as Chartered Accountant (CA(SA)) in 1975. In 1978 he was appointed as a partner in the above practise, which was eventually incorporated into Deloitte & Touche through a series of mergers.
Four faces of the CFO
Today’s CFOs are under more pressure than ever. Economic uncertainty, increased regulatory requirements, financial restatements and increased investor scrutiny have forced them into the spotlight. At the same time, they face never-ending pressure to cut costs, grow revenue, ensure controls, and are even put at personal risk for the company’s mistakes. Given these pressures, it’s no wonder that CFO turnover is on the rise and the role is under greater scrutiny, internally and externally.
WhitepapersNo items found.
Press ReleasesNo items found.
Deloitte Africa’s comprehensive network across 53 markets on the continent employs the highest level of professionals who are committed to delivering innovative, value-added solutions to often complex business problems. Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries.
Address: Johannesburg - HO View map View details Deloitte Place,The Woodlands 20 Woodlands Drive Woodmead Sandton
Phone: +27 (0) 11 806 5000