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AYO Technology appoints acting CEO
Naahied Gamieldien has been appointed as the acting CEO of AYO Technologies with immediate effect.
Steinhoff has secured its immediate future by making a deal with creditors
A series of asset disposals also helped to stabilise things at the retailer.
Flight Centre Travel Group SA appoints new CFO, Euan McNeil
Euan McNeil has been appointed as CFO at Flight Centre Travel Group with effect from September 2018.
Ben La Grange, ex-CFO of Steinhoff, has been suspended
Ex-director Stehan Grobler has also been suspended amid an ongoing investigation by PwC.
Debbie Ransby promoted to managing director of Takeda
Debbie Ransby, former finance director of Takeda, has been appointed as its managing director.
Accolades pour in for CFO SA's Women's Dinner
Women's Dinner attendees attest, CFO South Africa has gone above and beyond to create events that are relevant to CFOs' challenges and interests.
Sappi Southern Africa: Pramy Moodley
Pramy Moodley has been the chief financial officer of Sappi Southern Africa since January 2017.
Ameropa South Africa: Nico Hamman
Nico Hamman has been the Chief Financial Officer of Ameropa South Africa since March 2014.
Peregrine Holdings: Claire Coward
Claire Coward has been the chief financial officer of Peregrine Holdings since 1 June 2018.
CFO Dinner: Leading CFOs and CHROs share how sponsorship shaped their careers
Speaking at the CFO and CHRO Women's Dinner, two leading women executives shared the stories of their professional journeys.
Women doing it for themselves at the CFO and CHRO Women's Dinner
The Women's Dinner, held at the Radisson Blu Sandton, tackled the importance of sponsorship of women, by women - and also by men.
Gold Fields to part ways with KPMG as auditors
KPMG will however remain Gold Fields' auditors for the 2018 financial year to end December.
Sponsors show their commitment to empowering SA's women leaders
South Africa's leading women CFOs and CHROs have been signing up to take part in the Women's Dinner, sponsored by PwC, Workday and Transparent.
PwC launches Japanese desk to facilitate investment on African continent
PwC has launched a Japanese-Africa desk to facilitate investment and partnerships, and improve links between businesses in Africa and Japan.
The horror of waiting: PwC's Lullu Krugel on the economics of lateness
If someone's late for a meeting, here are some insights that will help you to cope with the stress.
Telkom: Tsholofelo Molefe
Tsholofelo Molefe took up her role as chief financial officer of Telkom on 1 July 2018.
Ecobank Transnational Incorporated: Greg Davis
Greg Davis has been the Group Chief Financial Officer of Ecobank Transnational Incorporated since 18 October 2016.
Takeda Pharmaceuticals: Debbie Ransby
Debbie Ransby has been the finance director of Takeda Pharmaceuticals since September 2017 until July 2018.
The Shoprite Group: Anton de Bruyn
Anton de Bruyn has been the Chief Financial Officer of The Shoprite Group since 2 July 2018.
5 more interesting accounting facts
Here are a few little tidbits to spice up the conversation when someone asks what you do for a living
Logic and numbers always prevail, says Lucas Verwey, Group FD Distell
"It is a very fine balance between high level and detail, because you can't be high level without understanding the detail first."
CFO Awards 2018: high praise from CFOs and sponsors
CFOs and business leaders from partner firms like Deloitte, PwC, EY, Thomson Reuters and Ansarada showered the 2018 CFO Awards in compliments and rave reviews after the successful gala event on 10 May at Constitution Hill.
SA congratulates Christine Ramon on CFO of the Year 2018 recognition
Social media erupted in a warm outpouring of congratulations after the historic election of AngloGold Ashanti's Christine Ramon as CFO of the Year 2018.
Calls for ethical leadership at breathtaking 2018 CFO Awards
Calls for ethical leadership as the first woman CFO takes home the tile of CFO of the Year during the spectacular fifth annual CFO Awards at Johannesburg's Constitution Hill.
AngloGold Ashanti CFO Christine Ramon named CFO of the Year 2018
Christine Ramon, chief financial officer of gold mining company AngloGold Ashanti, has been named South Africa's CFO of the Year at the 2018 CFO Awards.
Partners flock to sponsor CFO Awards 2018
This year's finance Oscars are backed by new partners PwC, Workday, Nike and Drayton Glendower.
Coca-Cola Beverages SA: Walter Leonhardt
Walter Leonhardt has been the Financial Director of Coca-Cola Beverages SA since July 2016.
Capevin Holdings: Pieter Louw
Pieter Louw has been the Financial Director of Capevin Holdings since 5 March 2015.
VBS Mutual Bank: Philip Truter
Philip Truter has been the Chief Financial Officer of VBS Mutual Bank since September 2014.
Royal Bafokeng Holdings: Nakedi Ramaphakela
Nakedi Ramaphakela has been the Financial Director of Royal Bafokeng Holdings since July 2016.
African Media Entertainment: Michelle Mynhardt
Michelle Mynhardt has been the Executive Financial Director and Executive Director of African Media Entertainment since 1 June 2010.
Eli Lilly and Company: Barry Wren
Barry Wren has been the Chief Financial Officer of South Africa and Sub-Saharan Africa at Eli Lilly and Company since April 2015.
Westcon SA: Andries Coetzee
Andries Coetzee has been the Chief Financial Officer of Westcon SA since 29 January 2016.
We must purge ourselves of complacency as a profession, says Lindiwe Ndlela, 4AX CFO
4AX's Lindiwe Ndlela sees an opportunity for cleansing after the recent scandals that rocked the finance profession.
Cunningham Lindsey South Africa: Clint Capitano
Clint Capitano has been the Chief Financial Officer of Cunningham Lindsey South Africa since May 2010.
Group Five: Christina Teixeira
Christina Teixeira was the Chief Financial Officer of Group Five from 2008 to December 2018.
WATCH: Indox's Gur Geva at Finance Indaba 2017
Lonmin Platinum: Barrie van der Merwe
Barrie van der Merwe was the Chief Financial Officer of Lonmin Platinumfrom 17 May 2016 until 2019.
Rolfes Holdings: André Broodryk
André Broodryk has been the Chief Financial Officer of Rolfes Holdings since 6 November 2017.
Stenprop: Patsy Watson
Patsy Watson has been the Chief Financial Officer and Executive Director of Stenprop since 2 October 2014.
Glacier: Ignatius Hagglund
Ignatius Hagglund has been the Head of Finance at Glacier since August 2011.
AH-Vest: Christopher Sambaza
Christopher Sambaza has been the Financial Director of AH-Vest Ltd since 21 October 2013.
MC Mining: Brenda Berlin
Brenda Berlin has been the Chief Financial Officer of MC Mining since 1 March 2018.
Wings Travel Management: Noel Prendergast
Noel Prendergast has been the Chief Financial Officer of Wings Travel Management since November 2012.
Resilient Property Income Fund: Nick Hanekom
Nicolaas Hanekom has been Financial Director of the Resilient Property Income Fund since May 2011.
Sovereign Food Investments: Grant Coley
Grant Lawrence Coley has been the Chief Financial Officer and Director of Sovereign Food Investments since 1 July 2013.
Aspen Pharmacare: Sean Capazorio
Sean Capazorio has been Aspen Group Finance Officer since January 1999.
Transaction Capital: Ronen Goldstein
Ronen Goldstein has been Executive Financial Director of Transaction Capital since August 2016. He has served as its company secretary since December 2014.
BHP Billiton: Peter Beaven
Pete Beaven has been the Chief Financial Officer of BHP Billiton since October 2014.
Tiger Brands: Noel Doyle
Noel Doyle was appointed Chief Financial Officer of Tiger Brands on 1 August 2016. February 2017.
LeapFrog Investments: Grant Karolus
Grant Karolus has been the Financial Director of LeapFrog Investments since September 2016.
Taste Holdings: Evan Tsatsarolakis
Even Tsatsarolakis has been the Chief Financial Officer of Taste Holdings since September 2009 until 31 May 2018.
VIP registration for CFO Day open
A pre-selected group of South Africa's leading finance executives have received their VIP invite for CFO Day, the essential learning and networking event for top CFOs and FDs. Only 140 registrations will be accepted for the event on 17 July 2018 at Marble, Johannesburg.
Always stick to the facts and don't get emotional, says Takeda FD Debbie Ransby
CFO award-winning Takeda FD Debbie Ransby talks about her success in Africa.
Metair: Sjoerd Douwenga
Sjoerd Douwenga has been Chief Financial Officer of Metair Investments since 25 March 2014. He is also a Director for Mutlu Aku Ve Mlz.SAN.A.S. in Istanbul, Turkey.
Torre Industries: Shivan Mansingh
Shivan Mansingh has been the Chief Financial Officer of Torre Industries since August 2016.
Global Asset Management: Richard McNamara
Richard McNamara has been the Group Chief Financial Officer of Global Asset Management since 1 October 2015.
Schroder European Real Estate Investment Trust Plc: Richard Keers
Richard Keers has been the Chief Financial Officer of Schroder European Real Estate Investment Trust Plc since May 2013.
GAIA Infrastructure Capital: Kuby Prudence Lebina
Prudence Lebina has been the Interim Financial Director of GAIA Infrastructure Capital since 9 February 2018.
WG Wearne: Marius Bierman
Marius Bierman has been Chief Financial Officer of WG Wearne since 24 January 2017.
Wescoal: Izak van der Walt
Izak van der Walt has been Chief Financial Officer of Wescoal Holdings since 1 September 2017.
Grit Real Estate Income Group: Leon Paul van de Moortele
Leon van de Moortele has been the Chief Financial Officer of Grit Real Estate Income Group since July 2015.
Gemgrow Properties: Junaid Limalia
Junaid Limalia has been the Chief Financial Officer of Gemgrow Properties since January 2017.
Oando Plc: Femi Adeyemo
Femi Adeyemo has been the Chief Financial Officer of Oando Plc since October 2005.
Marshall Monteagle Plc: Edward John Beale
Edward Beale has been the Group Finance Director of Marshall Monteagle Plc since February 2013.
Novus Holdings: Edrich Fivaz
Edrich Fivaz has been the Chief Financial Officer and Executive Director of Novus Holdings since 1 September 2016.
Newpark REIT: Dries Ferreira
Dries Ferreira has been the Chief Financial Officer of Newpark REIT since September 2016.
Universal Partners: David Vinokur
David Vinokour was appointed Chief Financial Officer of Universal Partners in 2017. In addition to his role as CFO, David is also the CEO of Global Capital (Pty) Ltd.
Equites Property Fund: Bram Goossens
Bram Goossens has been the Chief Financial Officer of Equites Property Fund since September 2014.
Tsogo Sun Group: Rob Huddy
Rob Huddy has been Chief Financial Officer and Executive Director since October 2011.
Hans Merensky Holdings: Rian du Toit
Rian du Toit has been Chief Financial Officer since 2005 and Executive Director since 2011.
Exarro Resources: Riaan Koppeschaar
Riaan Koppeschaar has been Finance Director of Exarro Resources since July 2016.
Life Healthcare Group: Pieter van der Westhuizen
Pieter van der Westhuizen has been group CFO since June 2013. He is also acting CEO since June 2017.
Liberty Two Degrees: José Snyders
José Snyders has been the Financial Director of Liberty Two Degrees since 23 March 2017.
CSG Holdings, William E Scott
William Edward Scott has been the Chief Financial Officer and Director of CSG Holdings since 31 March 2015.
Calgro M3 Holdings: Willem Adolph Joubert
Willem Joubert has been the Chief Financial Director of Calgro M3 Holdings since 1 June 2015.
Afrimat: Pieter de Wit
Pieter de Wit has been Financial Director since 1 March 2016.
New Europe Property Investment Plc: Mirela Covasa
Mirela Covasa has been the Chief Financial Officer of New Europe Property Investment since February 2015.
Silverbridge Holdings: Lee Kuyper
Lee Kuyper has been the Financial Director of Silverbridge Holdings since August 2007. He is also a Non-Executive Director at youKnow Digital.
Accelerate Property Fund: Dimitri Kyriakides
Dimitri Kyriakides has been the Chief Financial Officer and an Executive Director of Accelerate Property Fund since 1 January 2013.
Finbond Group: Corné Eksteen
Corné Eksteen has been the Chief Financial Officer of Finbond Group since 1 July 2016. He is also the In-Country Representative of CrossCountry Consulting.
Hans Merensky Holdings' Rian du Toit nominated for CFO Awards 2018
Rian is part of the exco responsible for determining group and financial strategy.
FinTech and blockchain mavens launch International Digital Asset Exchange Council
2018 Davos conclave marked the official launch of IDAXC, the international Council charged with overseeing the emergent field of marrying and optimising cryptocurrencies to quantifiable assets
Sasol Limited: Paul Victor
Paul Victor has been Chief Financial Officer and Executive Director of Sasol Limited since July 2016.
AstraZeneca South Africa & Sub-Sahara Africa: Osman Mia
Osman Mia has been Chief Financial Officer of AstraZeneca South Africa & Sub-Sahara Africa since 2013.
Buffalo Coal Corp: Graham du Preez
Graham du Preez has been the Chief Financial Officer and Corporate Secretary of Buffalo Coal Corp. since 17 October 2016. He is also the Chief Financial Officer of Alloycorp Mining Inc.
Efora Energy Ltd: Damain Matroos
Damain Matroos has been the Chief Financial Officer of Efora Energy Ltd since February 2015.
Buildmax: Christiaan Els
Christiaan Stephanus Els has been the Financial Director of Buildmax since 1 April 2010. He is also an Executive Director of Buildmax.
Net1 UEPS Technologies: Alex Smith
Alex Smith has been Chief Financial Officer of Net1 UEPS Technologies since February 2018.
Famous Brands: Kelebogile Ntlha
Kelebogile Ntlha has been Group Financial Director of Famous Brands since July 2016.
Datatec: Ivan Dittrich
Ivan Dittrich has been Chief Financial Officer since 30 May 2016.
Discovery: Deon Viljoen
Deon Viljoen has been group Chief Financial Officer since May 2017. He is also on the board of directors for Discovery.
Blue Label Telecoms: Dean Suntup
Dean Suntup has been Financial Director of Blue Label Telecoms since November 2013.
Curro Holdings: Bernardt van der Linde
Bernardt van der Linde has been Financial Director of Curro Holdings since January 2011. He is also an Executive Director of Curro Holdings.
SA Corporate Real Estate: Antoinette Basson
Antoinette Basson has been Financial Director of SA Corporate Real Estate since February 2011. She is also a member of the Social, Ethics and Environmental Committee and is invited to attend the Audit, Investment and Risk and Compliance Committee meetings.
Aveng: Adrian MaCartney
Adrian MaCartney has been Executive Financial Director and Chief Financial Officer since September 2014. He is also on the Executive of Aveng (Africa) Pty (Ltd) and Aveng Australia Holdings (Pty) Ltd.
Assurance in turmoil: four positive outcomes from the Steinhoff scandal
UCT's Tim London shares what he considers four positive outcomes of the Steinhoff scandal
Meet Shivan Mansingh, CFO of Torre Industries
Get the basics right to see continued success, says Torre Industries CFO Shivan Mansingh
FinTech has potential to create 3 million jobs - former Nigerian minister
The industry in Nigeria is being held back by the lack of sound regulation
I like to set high goals for myself and enjoy the journey to achieve them, says Motus CFO, Ockert Janse van Rensburg
Motus Corporation CFO Ockert Janse van Rensburg is extremely ambitious - literally - having climbed some of the world's highest mountains
Altron CFO leaves to join Net1
Alex Smith, Altron CFO, will be leaving his role end February 2018, to instead fill the CFO role at Net1 UEPS Technologies
AstraZeneca's Osman Mia nominated for CFO Awards 2018
He has been recognised for his efforts in driving finance transformation, African expansion and systems integration at the pharmaceutical multinational
Pieter Kleingeld appointed new NWK CFO
Agricultural products and services provider NWK has appointed Pieter Kleingeld as its new CFO, effective 1 November. Kleingeld joined NWK in 2015 as group manager for asset management and risk services.
Glass ceiling - what glass ceiling? Powerful women at #findaba17
More women are finding success in the boardroom these days. Does this mean that the glass ceiling has finally been broken, or was it only ever in the imagination to begin with? Nonkululeko Gobodo, CEO of Nkululeko Leadership Consulting, 2017 CFO Awards winner Debbie Ransby, financial director at Takeda Pharmaceuticals, and Mary Vilakazi, deputy CEO of MMI Holdings, unpacked the topic during a well-attended session at Finance Indaba Africa on 12 October 2017.
Finance Indaba 2017: Indox is the Uber of document collection
"When businesses need to do KYC and FICA, they need to collect proof of residence and identity. It’s a massive frustration for clients. The backends of banks are not agile enough to handle this process – and this is where Indox comes in,” says Gur Geva, CEO of Indox, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.
Swiss accelerator open to African FinTechs
African FinTechs are able to apply for the prestigious Switzerland-based F10 accelerator.
Curro charges through R1bn revenue barrier
Private education provider Curro announced on Tuesday that it had broken the R1 billion interim revenue barrier in the six months to end-June. However, despite maintaining the 24% revenue growth pace set in the matching period, losses in its lower-fee school and tertiary divisions dragged profit growth down from 67% to 31%.
The impact of cybercrime on SA companies: are we better or WORSE off?
During the last year, the public became painfully aware of what cybersecurity experts have long been warning us about: That cybercrime is on the rise and that everyone is a potential target. The recent WannaCry and Petya attacks have revealed that hackers have adopted an increasingly financial focus, as they demand ransom (usually in cryptocurrencies like Bitcoin) in exchange for unlocking the affected users’ data. Companies throughout the globe have been affected in the latest attack this June, with South African companies being no exception.
SA executives paid top dollar
According to a recently released report by PricewaterhouseCoopers (PwC), CEOs of the top 10 JSE-listed companies take home an average pay of R24.6 million. CFOs, it said, earn around R13.8 million, and executive directors R7.7 million.
Meet Debbie Ransby (Takeda), winner of the Moving into Africa Award
At the recent CFO Awards, held on 11 May at the stunning Summer Place in Johannesburg, Debbie Ransby of pharmaceutical firm Takeda Africa walked away with the Moving into Africa Award, received largely because of her change management work in Egypt, where she faced numerous tough challenges, including diverse cultures and complex business practices.
First African FinTech accelerator launched in Cape Town
Startupbootcamp has launched its new Cape Town-based FinTech accelerator. This global industry-focused accelerator group has 18 programmes across 13 countries and has seen value in now setting up a footprint in Africa.
Effective CFOs know their business, says Standard Bank's Sean Berrington
"In the early days of the Group IT transformation it became clear that, unless the finance team transformed as well, we would become irrelevant. As a result, we needed to radically relook at how we run our staff engagement and processes," says Sean Berrington, CFO for Group IT at Standard Bank. Sean has been the finance boss of a “billion-dollar IT organisation” since mid-2016. Add to this his intimate experience of agile ways of working and he might just be the ideal person to talk to about the crossroads of threats and opportunities that technology and finance bring to banks and finance professionals.
Finance flash: the TOP-10 articles of week 16, 2017
Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
Afrimat's Pieter de Wit nominated for CFO Awards 2017
Afrimat FD Pieter de Wit has been nominated for the 2017 CFO Awards. The annual 'Oscars for South African CFOs', to be held on 11 May, recognise CFOs of listed companies, large corporations, state-owned entities and government institutions, and awards them for outstanding performance and leadership.
Good CFOs know their strengths, says Damain Matroos, SacOil CFO
“We need to be careful that we don’t make the mistake when going into the rest of Africa of thinking that we have better skills and expertise than others on the continent. This superiority complex will set us up for failure. The fundamental thing is, if you try to exploit the other African jurisdictions to the benefit of South Africa, you’ll come unstuck,” says Damain Matroos, CFO of SacOil, a South African-based independent African oil and gas company. We chatted to Damain about the challenges he faces as a CFO in the oil and gas sector, what opportunities exist, and what it’s like to do business in Africa.
Real empowerment remains elusive, says IRBA's top brass
“More focus should be given to long-term career prospects, including equity partnerships and senior management and executive responsibility. Transformation is not about the de-racialisation of the overall profession; it is about financial inclusion, ownership and access to markets and opportunity,” says Bernard Agulhas (pictured), CEO of the Independent Regulatory Board for Auditors (IRBA). In Agulhas’s opinion, transformation must move beyond numbers and begin to truly empower black accountants and black-owned auditing firms. This includes providing equal opportunities to access the audit market, he says.
Four new non-executive directors appointed for 4AX
Mfundiso Johnson Ntabankulu (also known as JJ) Njeke, Thabo Vincent Mokgatlha, Prof Deon Rossouw and Theo Vorster have been appointed as independent, non-executive directors to the 4AX board, effective immediately. The appointees will play an active role in offering perspective and guidance on market and business related aspects, and review and assist in formalising the growing scope of the exchange’s market strategy.
Accountants in the Oscars spotlight
Accountants don’t generally get to bask in the limelight and it is also rare for them to make headlines of any kind. You certainly wouldn’t accept an accountant to steal thunder at an event of the magnitude of the Oscars, but PwC partner Brian Cullinan’s monumental gaffe at Hollywood’s Dolby Theatre on Sunday night did just that and thrust the venerable London-based accounting firm into public scrutiny.
FinTechs to disrupt Nigeria's retail banking - PwC
Nigeria’s retail banking and payments sectors will be most disrupted by FinTech solutions, according to the PwC Nigeria FinTech Survey 2017.
What makes a good CFO? Narriman Taliep, V&A Waterfront CFO, shares her views
Narriman Taliep, CFO at Cape Town’s bustling V&A Waterfront, believes that modern CFOs need to embrace and get on top of technology: “For me, this is the future. It's a necessity, not a luxury. So, the question is, which aspects of the technology do you take on now, and how do you manage it?”
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