Standard Bank offers a range of banking and related financial services.
Edcon loses the battle; gets taken over
Struggling South African clothes retailer Edcon has been taken over by banks and bondholders, including Standard Bank, Barclays Africa Group and FirstRand. Furthermore, creditors in Edcon have agreed to substitute R21 billion in debt for equity control of the retailer. The retailer has been struggling with an over-leveraged capital structure for years. Having been taken private in a R25-billion buyout by Bain almost a decade ago, Edcon has been unable to to grow at a fast enough rate to pay down debt.
MTN seeks to raise billions through IPO
MTN Group, together with minority shareholders in its Nigerian business, is looking to raise $1 billion in an initial public offering (IPO).
Grandeur and great conversations during CFO Awards judges dinner
Conversation flowed and sumptuous food was enjoyed during a inspirational get-together of the panel of judges for the 2017 CFO Awards. One of the highlights of the evening was the judging panel welcoming Prof Wiseman Nkuhlu, Chancellor of the University of Pretoria, in their midst. Wiseman is South Africa's first black Chartered Accountant and an incredibly experienced boardroom expert. CFO SA Graham Fehrsen thanked him for adding even more gravitas and quality to the - already impressive - judging panel.
Disrupt, or be disrupted - CFOs discuss digital transformation
“By show of hands, how many people in the room have begun a digital transformation project in the last 12 months?” CFO South Africa MD Graham Fehrsen asked the crowd during his welcoming at the first Johannesburg breakfast event hosted by CFO South Africa on 15 September 2016. Virtually every attendant raised their hands. “So everybody is here to discover why it is not working or how to improve the ROI,” he joked to appreciative chuckles.
Role model: the inspirational tale of Standard Bank's Luvuyo Masinda
How does a young black South African from the Cape Flats end up in Standard Bank’s posh Rosebank offices as CFO Corporate and Investment Banking at age 37? The answer is cricket, a knack for mathematics, shiny cars, some fateful mergers, a driven partner and – most of all – a passion for purpose. Joël Roerig spoke to Luvuyo Masinda about the road he travelled from Mandalay to success.
Technology & Strategy: Oracle's Sarah George pre-empts CFO breakfast
The strategic evolution is a a development path built on choices about what is best for the business in the long term rather than on immediate changes that may be detrimental further down the line. In this Expert Insight, Sarah George, ERP & EPM Business Development and Product Strategy, Oracle South Africa, explores the speed of business transformation and the role that agile technologies play.
Christine Ramon special guest at Digital Transformation CFO Breakfast, 15 September 2016
Clever implementation of modern technology can bring massive benefits to companies and is often the difference between bust or boom. During CFO South Africa’s annual Digital Transformation Breakfast on 15 September 2016 (7h00) we tap into the incredible experience of CFOs Christine Ramon (AngloGold Ashanti) and Wayne Koonin (Omnia) to explore the risks and opportunities a tech savvy finance team can create.
KPMG CEO Trevor Hoole: The evolution of the modern CFO
Since Trevor Hoole joined KPMG in 1975 he has witnessed the change in CFOs from “the traditional bespectacled back-office-person” to the modern money boss of today. We asked the CEO of our principal partner what it takes to be a successful finance leader in a world of change, big data, volatility, risks and cybersecurity. Here are Trevor’s insights summarised in nine burnings topics.
CFO SA's first women's dinner discusses influence and power
With an impressive selection of South Africa’s top finance executives in attendance, CFO South Africa’s first ever dinner event for women CFOs was a resounding success. The evening delivered fascinating insights into the power women have to bring men into conversation about the workplace, modernise views on parenting and multi-role professionals and – most importantly – be leaders by example.
Essential learning as CFO Colin Brown shares how critical treasury is to Super Group
Through some incredible tech-enabled financial discipline, CFO Colin Brown helped saving Super Group from the abyss, setting the South African flagship firm on course again for massive expansion. Since then successes have been commonplace, with Colin (pictured with Discovery's Terrence Taylor) winning no less than three CFO Awards and the group regularly reporting spectacular growth. On 21 July 2016, at the CFO event on M&A, Colin provided some candid insight and valuable tips during a round table discussion with a select group of CFOs.
Are you future ready? Great insights at CFO breakfast in Cape Town
To be ready for the future, CFOs need to embrace imagination, make bold choices and be intimately connected to customers and employees. Those were some of the main takeaways at a lively CFO breakfast debate in Cape Town's Westin Hotel on Tuesday 12 July 2016. Preceded by a thought-provoking and often humorous presentation by futurist Morne Mostert, the high-level intimate gathering of about 35 people was treated to insights by Woolworths CFO Reeza Isaacs (3rd photo) and retired Remgro CFO Leon Crouse (bottom photo), who played a pivotal role in the success story of Vodacom.
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:
CFOs discuss effective workforce health strategies to drive the bottom line
“It is important to understand that the wellness component and the health component are not the same thing and it’s not just a tick the box exercise,” said Jo Pohl, chief financial officer at Telesure Group. Jo was speaking at the event on 22 June 2016, where CFOs discussed effective workforce health and wellness strategies to drive the bottom line.
Debating the 'why' - public sector CFOs discuss change management
“Sometimes we change just for the sake of changing, without understanding the drivers bringing about that change. But in order to deal with any change situation, you need to understand the reasons behind the change,” said Dumisani Ntombela, Academic Director at Worldsview Academy and an independent organisational development and strategic human resources management professional.
MTN names Rob Shuter new CEO
MTN has announced that Rob Shuter (pictured), headhunted from Vodacom’s UK parent, Vodafone, has been appointed new CEO. Shuter will also be MTN’s group president.
Meet Bikash Prasad, winner of the Moving into Africa Award at the CFO Awards 2016
“I’m speechless,” said Olam International CFO Bikash Prasad when presented with the award for Moving into Africa at this year’s CFO Awards 2016, held on 12 May at the beautifully bedecked Summer Place.
RMB and Standard Bank shortlisted in African Banker Awards
Rand Merchant Bank (RMB) and Standard Bank will compete for top honours in the 2016 African Banker Awards, the most prestigious event in Africa’s banking sector, held under the patronage of the African Development Bank.
Jurgens Myburgh new Mediclinic CFO
Petrus Jurgens Myburgh (pictured) has been appointed executive director and group CFO of Mediclinic International, effective 1 August.
CFOs must be ready for change - keynote Deon Viljoen, Acting CEO of Alexander Forbes, at 2016 CFO Awards
Deon Viljoen, Acting CEO of Alexander Forbes, won the CFO of the Year Award at the CFO Awards 2015. This year, Deon presented a keynote speech, which he began by thanking the CFO team and the CFO community of South Africa. After congratulating this year’s nominees and winners, Deon spoke about change: “No matter what industry you are in, you will be faced with these challenges. The trick is to be aware of it and get out of the trenches every now and then to look, because the world is changing around you.”
CFO Awards 2016: glitz, glam & winners at Oscars of SA's finance profession
Woolworths Group FD Reeza Isaacs was named CFO of the Year 2016 during a spectacular CFO Awards Conference and Gala Dinner at the Summer Place in Hyde Park, Johannesburg. Our senior editor Toni Muir jotted down quotes throughout the evening and we have used the best ones to recap the amazing event, dubbed the Oscars of South Africa's finance profession by many CFOs.
Woolworths CFO Reeza Isaacs named CFO of the Year 2016
Reeza Isaacs, group finance director of retailer Woolworths Holdings, has been named South Africa’s CFO of the Year at the 2016 CFO Awards. The award was announced on Thursday 12 May 2016 at the end of an inspirational conference and gala event at Summer Place in Hyde Park, Johannesburg. Dumisani Dlamini (National Arts Council) was named Young CFO of the Year and Public CFO of the Year, while Osman Arbee (Imperial) and Walter Leonhardt (ABI) also took home two awards each.
Celebrating SA's finance leaders - countdown to 3rd CFO Awards
It is time for tuxedos. It is time for cocktail dresses. It is time to celebrate South Africa's finance leaders during the 3rd annual CFO Awards at the marvelous Summer Place in Hyde Park, Johannesburg. On Thursday 12 May 2016 CFO South Africa will host a spectacular gala dinner, preceded by a high-level conference for the country's best finance directors and chief financial officers. At the end of the evening one of 25 nominees will be crowned CFO of the Year.
Prof Nkuhlu: CFOs need courage and competence
“CFOs need to be role models,” says Professor Lumkile Wiseman Nkuhlu, South Africa’s first black chartered accountant, current chancellor of the University of Pretoria and an often-cited inspiration for members of our CFO community. CFO South Africa had the pleasure of an exclusive interview with the 72-year-old finance elder, who will be the guest of honour during the 2016 CFO Awards on 12 May.
Preparation is key to successful M&A - CFO event 6 April 2016
How Oceana bought Daybrook Fisheries - CFO Imraan Soomra reveals
“The acquisition of Daybrook has put us years ahead,” says Imraan Soomra, CFO of Oceana. The Cape Town-based fishing company was already Africa's biggest, but burst onto the global stage with the spectacular acquisition of Daybrook Fisheries in the US last year. We spoke to Imraan about the finance transformation and culture change that laid the platform, the adrenaline of the deal and his future ambitions.
Top CFOs reveal their M&A dreams & nightmares - join us on 6 April 2016
Oceana CFO Imraan Soomra played a huge role in the acquisition of Daybrook Fisheries in New Orleans, growing the market cap of the Cape Town-based fishing firm with about 50%. DigiCore CFO Cobus Grove was instrumental in saving the vehicle-tracking company from demise and selling it to the US firm Novatel Wireless. Deon Fredericks rose through the ranks at Telkom, to eventually take over the CFO job in the most difficult of times and guiding the acquisition of Business Connexion through tricky turns. All the while, these three finance bosses also still had a normal business to run...
Meet CFO Awards 2016 nominee Robert Katz, CFO of Peregrine
Robert Katz | Chief Financial Officer | Peregrine
Local talent in the spotlight at smashing CFO event 'Moving into Africa'
Innovative ways to identify and develop top local talent in African countries were the hottest topic of conversation during an extremely insightful CFO South Africa event about Moving into (the rest of) Africa, hosted by Standard Bank at its impressive Rosebank premises on 16 March 2016. Vibrant CFO panel discussions alternated with insights from experts from Thomson Reuters and Spencer Stuart, while attending CFOs also had the chance to get involved.
Give African executives opportunity to develop: Pratik Chandaria (Africa Advisory Group)
Contrary to perceptions, there is a strong potential pool of great local business leaders in Africa," says Pratik Chandaria of Africa Advisory Group, a company specialising in recruiting executives and developing the next generation of leadership for Africa. "The strength of the leadership pool is defined by the potential you see in it. This means you have to be willing to give leadership talent the opportunity to develop; particularly in Africa where leadership skill sets are still developing. I rank the pool highly in terms of potential."
How to succeed in Africa: 5 questions for Kamal Patel (Thomson Reuters)
Local talent, knowledge and understanding of the local context is crucial for businesses to be successful in African countries north of South Africa, says Kamal Patel, Head of Corporates & Partnerships at Thomson Reuters. Kamal is one of the exciting speakers lined up for our CFO event Moving into Africa on Wednesday 16 March 2016. To get to know him we contacted him - during a business trip in Ethiopia! - and asked him five questions.
Join our Moving into Africa event about knowledge & talent on 16 March
People and knowledge are at the centre of attention during this year’s CFO event Moving into Africa, on Wednesday 16 March at the Standard Bank office in Rosebank on 35 Baker Street. CFOs who will their experiences on the continent will include Alexander Visser (Philips Africa), Mohammed Abdool-Samad (Illovo) and Greg Davis (Standard Bank Africa). Experts from knowledge company Thomson Reuters and executive recruiter Spencer Stuart are also at hand to provide insight.
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”.
Meet CFO Awards 2016 nominee Ryan McDougall, Group FD of Trustco Holdings
Ryan McDougall | Group Financial Director | Trustco Holdings
FinTech Africa event: fascinating insights in #blockchain at Barclays Rise
A Dutch “prophet of the future", a forward-thinking Barclays boss and a group of amazing South African FinTech pioneers engaged in some intriguing discussions and short presentations during FinTech Africa’s Blockchain event in Cape Town on 25 February 2016. The gathering of around 80 FinTech professionals and enthusiasts was hosted at the marvelous Rise innovation hub of Barclays Africa at the Bandwidth Barn in Woodstock.
People, processes and tech key at vibrant Get Smart in 2016 event
People, processes and technology took centre stage during an incredibly well-attended CFO event on 23 February 2016 at Summer Place in Hyde Park, Johannesburg. Thanks to the expert contribution of partners WNS, Oracle and KPMG, CFOs received updates on the latest and greatest in business process outsourcing and cloud computing, but also got to discuss the human side of it.
How can finance contribute to agility? Standard Bank Investment Banking CFO Sean Doherty explains
Sean Doherty worked for Standard Bank, became a consultant and then rejoined the bank as CFO Investment Banking. We asked him what he learnt ‘on the outside’, how finance can contribute to agility and his doubts about finance transformation.
KPMG scoops Reporting Accountants awards at DealMakers Gala
Professional services firm KPMG won both Reporting Accountants awards during the 15th annual DealMakers Gala Awards Banquet on 16 February at the Sandton Convention Centre. A broadly smiling CFO South Africa MD Graham Fehrsen handed the two prizes (Deal Flow & Deal Value) to KPMG's Corporate Finance MD John Geel, in the presence of DealMakers director Marylou Greig.
Arno Daehnke appointed group FD for Standard Bank
Arno Daehnke (pictured), who has headed the Standard Bank Group's treasury and capital management division since 2010, has been appointed group FD.
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.
Spectacular line-up of speakers at Finance Indaba Africa 2016
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.
Be disrupted or die - CFO master class at the Oracle Cloud Day
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.”
Funding and regulation hindering startup success South Africa
Industry experts agree that South African startups have what it takes to succeed on the global stage, but structural issues are hindering development. While executives from South Africa’s leading enterprise development incubators are bullish about the progress being made and about the standard of South African startups, they are also concerned about government regulation, lack of funding direction and market access and inequitable distribution.*
Event 19/11: what can CFOs learn from entrepreneurs?
What can CFOs and entrepreneurs learn from each other and how can we bridge the gap between the executives of today’s most prominent businesses and those who will shape the future of South Africa? Those are the central questions during a unique, once-off CFO South Africa event in the iconic Turbine Hall in Johannesburg on 19 November 2015.
Standard Bank opens Ethiopian office
In an effort to secure a foothold in one of the continent's fastest-growing economies, Standard Bank – Africa’s largest bank by assets, with a presence in 20 countries – has opened an Ethiopian office.
Fintechs don't realise own arrogance, says Paul Steenkamp (Standard Bank)
"Banks need to become less self-obsessed and more aware that all the decisions they make have to have customers at the centre," says Paul Steenkamp, Head: Innovation Capability at the Standard Bank Group. Paul was on the panel during the successful 2nd FinTech Africa event in Johannesburg. In the lead up to our 3rd event in Cape Town on 20 OctoberEbrahim Moolla spoke to him about the panic banks felt about FinTech and the way they are starting to embrace the revolution now. "One plus one equals three. Banks and FinTech companies can achieve a lot more by working together."
Cash in, cash out - the amazing Fundamo journey
How Hannes van Rensburg’s start-up became a lynchpin of banking in emerging markets
CFO South Africa now on Facebook
While our presence on LinkedIn and Twitter is crucial as ever, we have recently decided to make the plunge on Facebook as well. Many, and I am one of them, are active on Facebook, but regard it as a bit of a personal space, away from work. An increasing amount of people around the world, however, use the popular social media platform as their one-stop-shop for everything current and exciting. If you're one of those, you better head over and 'like' CFO 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.”
Brait sells bonds worth $540 million to fund acquisitions
Investment company Brait SE, controlled by Christo Wiese, has sold $539 million of five-year convertible bonds in order to fund acquisitions. According to the company, it intends to use the proceeds for general purposes, with a primary focus on funding strategic acquisitions.
Learning from award-winning Africa CFO Greg Davis (Standard Bank)
At CFO South Africa we already know Greg Davis for a while, thanks to his great series of Expert Insights on:
Liberty Holdings to invest $80 million in Nigeria
South Africa's fourth-largest insurer, Liberty Holdings, has announced plans to invest up to $80 million in two deals in Nigeria by end 2015. Casper Troskie, Liberty CFO, noted that the company has been negotiating with parties in Nigeria to acquire stakes in their businesses, and that Liberty has made good progress in this regard
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.
Meet Colin Brown (Super Group), winner Finance & Technology Award 2015
I am not telling any secrets when I say that Colin Brown was one of the hot favourites for the CFO of the Year Award 2015. After scooping up two major awards during the first CFO Awards in 2014 - Strategy Execution and Digital Transformation - the Super Group story had only gotten better and Brown is considered one of the key engineers of the remarkable turnaround and renewed ascend of the South African firm. However, the panel of judges felt that Deon Viljoen's remarkable work at Alexander Forbes deserved the recognition and Brown was pipped to the post.
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.”
FinTech Africa event: as it happened (with all the tweets!)
Disruption, the value of failure, attitude, innovation and collaboration were some of the keywords during a riveting FinTech Africa event at GIBS Business School in Johannesburg on Tuesday 28 July 2015. With lifehacker Martijn Aslander as keynote speaker, FinTech guru Nicole Anderson and Wizzit CEO Brian Richardson as presenters and a bunch of the most exciting FinTech experts on a lively panel, the energy in the room was palpable. With well over 100 people from the FinTech ecosystem attending the event, we're already looking forward to putting together the next one.
Meet Imraan Soomra (Oceana), winner Transformation & Empowerment Award 2015
Just a few days after this year's CFO Awards, Oceana Group announced a game-changing R4.6 billion purchase of the American fish-meal and -oil specialist Daybrook Fisheries. In his interview with the panel of judges for the awards, CFO Imraan Soomra had already explained that the traditionally conservative fishing company (already Africa's biggest) was planning to use its debt-less and asset-rich position to become a serious player on the global market. After the acquisition of the Louisiana-based Daybrook, Oceana is now the sixth-biggest fishing company in the world.
Meet Greg Davis, winner Moving into Africa Award 2015
“It isn't so frightening north of the Limpopo. There are huge opportunities and huge talent," said Greg Davis, CFO Africa for Standard Bank, when he received the Moving into Africa Award at the 2015 CFO Awards. He dedicated the award to his Finance team across the continent and said he hopes that "other companies will join us in venturing into Africa”.
Meeting Luvuyo Masinda, Standard Bank - powerful 1st impressions
Our managing director Graham Fehrsen recently met up with Luvuyo Masinda, deputy CFO Corporate and Investment Banking (CIB) at Standard Bank. A meaningful conversation ensued about the power of first impressions and the tremendous value CFO South Africa's events have to offer thanks to its "diversity and calibre of CFOs".
#WATCH Standard Bank CFO Simon Ridley `blown away` by CFO Awards
During his short keynote speech at the CFO Awards 2015, last year's CFO of the Year Simon Ridley (Standard Bank) didn't only give a glowing endorsement to CFO South Africa, but also listed the key aspects of a good CFO. Due to popular demand, we'll be introducing video clips of Simon's speech today - and other highlights of the awards ceremony at the magnificent Summer Place will follow.
Editorial: celebrating Youth Day the CFO way
Yesterday's Youth Day was a massive moment to reflect, not only for the country, but also for CFOs. First of all, the day remains a reminder where we come from - and how far South Africa still has to go. The Soweto Uprising against Afrikaans as school language - and by extension against the apartheid regime - started on 16 June 1976 and its violent repression took the life of about 176 South Africans. Not something we should forget.
Dining with Accenture's global CFO expert David Axson
An impressive selection of South African CFOs came together in the evening of Thursday 11 June 2015 to discuss volatility, uncertainty, complexity and ambiguity (VUCA) with David Axson, the global CFO Strategies expert of management consulting firm Accenture. During a copious dinner at the Saxon Boutique Hotel in Johannesburg, Axson shared his vision, insight and inspiration with finance leaders of companies like Allianz, Standard Bank, Business Connexion, Neotel, Primedia, Barclays Africa and Nedbank.
Editorial: young CFO award winners & an endorsement by Prof. King
Lets first get the bad news out of the way. After the formidable Aarti Takoordeen won the Young CFO of the Year Award in 2014, there were exactly zero female award winners last Thursday, It was disappointing, but I know that the members of the panel of judges have genuinely voted for their favourite candidates per category so there's nothing that we can do about that now. With CFOs like Raisibe Morathi (Nedbank), Ronel van Dijk (Spur Group), Megan Pydigadu (MiX Telematics) and Rofhiwa Irene Singo (Department of Mineral Resources) there were definitely some strong female contenders. I am not one for militant feminism or paragraphs begrudging glass ceilings, but I surely hope the scales will tip in 2016.
CFO Awards 2015: as it happened (with all the quotes!)
Alexander Forbes CFO Deon Viljoen was named CFO of the Year 2015 last night during an incredibly successful CFO Conference and Gala Dinner at the Summer Place in Hyde Park, Johannesburg. Our dynamic reporter Ebrahim Moolla roamed the event and jotted down quotes throughout the evening. I included the best ones in this recap of the event.
Alexander Forbes CFO Deon Viljoen named CFO of the Year 2015
Deon Viljoen, Chief Financial Officer at South Africa’s largest retirement fund administrator Alexander Forbes, has been named South Africa’s CFO of the Year 2015. The award was presented on Thursday 14 May 2015 at the end of an inspirational conference and gala event at Summer Place in Hyde Park, Johannesburg. Brett Tromp (Discovery Health) was named Young CFO of the Year, while Anoj Singh (Transnet) retained his title as Public CFO of the Year.
And the winner is... anticipation skyrockets for 2015 CFO Awards
The judges have picked their favourites, the votes have been tallied and the winners are... As CFOs are polishing their shoes, picking their best evening dress and searching their cupboards for their bow-ties, anticipation rises and tension is palpable - the CFO Awards 2015 are upon us.
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.
Interviews with nominated CFOs concluded, Awards judges to decide
All 32 CFOs that are nominated for the CFO Awards 2015 have now been interviewed by a representation of the panel of judges. For me, it has been a massive honour and learning opportunity to be part of the process, that started mid-February. Packs with all the interviews and profiles highlighting the performance of the nominated CFOs will soon be sent to the esteemed panel of judges, which will decide on the winners for the 10 categories using a nifty online voting system.
KPMG's Frank Rizzo talks disruptive tech trends with CFOs
KPMG Technology Sector Leader for Africa Frank Rizzo delivered a Master Class on trends in data analytics, business intelligence and technology at our Get Smart event at the Johannesburg Stock Exchange on 17 February.
Editorial: South African CFOs should drop the arrogance in 'Africa'
As an aside during our successful Moving into Africa event in the Michelangelo Hotel in Sandton, Sean Bennett, Head of UBS South Africa and Sub Saharan Africa, remarked that South Africans are not always welcomed with open arms in the rest of the continent. We are often guilty of talking about 'Africa' as if South Africa is not part of the continent, we are often guilty of arrogantly viewing the swath of land north of the Limpopo as largely undeveloped and we are often wrongly assuming that we have to import expats because of the purported lack of local talent.
Great insight into African tax by KPMG's top experts
Never speak to the tax authority in an African country without an advisor present, make better use of tax incentives and familiarise yourself with the local tax law and the people who enforce it. Those were some of the lessons during the extremely insightful Master Class at Thursday’s Moving into Africa event in the Michelangelo Hotel in Sandton. The CFOs present received a comprehensive overview of African tax affairs by some of the brightest tax minds on the continent, provided by KPMG.
Nominee CFO Awards 2015, Lawrence Weitzmann, CFO Business Conexxion
Lawrence Weitzmann 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: Brooks Mparutsa | Hollard
Brooks Mparutsa | Chief Financial Officer | Hollard Group
Nominee CFO Awards 2015, Greg Davis, CFO Standard Bank
Greg Davis 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.
Tax strategies in the spotlight at Moving into Africa event - register now!
While South African CFOs are keen to help their businesses explore options in Nigeria, Ghana, Kenya, the Democratic Republic of Congo and other African countries, the prospect of governance and tax issues still fills many with trepidation. During our Moving into Africa event on Thursday 19 March in Johannesburg a impressive team of African tax specialists will ease your mind and talk about the latest developments. It is not too late yet to REGISTER for the event. This is the CFO event you can’t afford to miss!
Panel of judges for CFO Awards 2015 meet at JSE Limited
One of the key success factors behind the annual CFO Awards is the strong composition of the panel of judges. On 17 February 2015 the panel for the 2015 awards met in a boardroom of the JSE Limited to discuss this year’s process and procedures. “We are truly honoured to have a group of such respected leaders on the panel to decide who are the best CFOs in South Africa at the moment,” said CFO South Africa CEO Melle Eijckelhoff, who convened the meeting.
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.”
CFOs shaken out of comfort zone during Get Smart event
CFOs were rattled out of their comfort zone yesterday during our Get Smart in 2015 event, hosted at the JSE Limited in Sandton, Johannesburg. In an extremely well-received key note speech, Martijn Aslander - from The Netherlands - told finance leaders they need to adapt or risk becoming obsolete. He talked the audience through a number of exciting innovations and disruptive developments that will change the world within the next 10 years. “In the future it is no longer about what you own or what you do, but it is about your attitude and your ability to adapt.”
CFO Awards biggest and best on CFO calendar
With three months to go to the annual CFO Awards, we have been amazed by the excitement and anticipation the conference and gala dinner have already created amongst CFOs. With finance bosses of big banks, listed companies and government departments already on the list of attendees, the event is proving to be the biggest and best on the annual CFO calendar.
Rethinking financial disclosures in integrated reports
Editorial: preparing for disruption & PPC CFO Ramano stays put
We are living in the age of disruption and CFOs have the responsibility to see what’s coming and anticipate the new business world order. During our Get Smart in 2015 events in Johannesburg (17 February) and Cape Town (19 February) we will chat about the challenges that come with change, but speakers like ‘lifehacker’ Martijn Aslander will also show the CFOs present that the recent digital revolution provides opportunities galore.
5 key insights about CFOs in Africa
KPMG’s 2014 Africa CFO Survey is based on the international survey Being the best: Inside the intelligent finance function. It collates and interprets responses from 264 CFOs of medium-to-large companies with a quarter of them working for companies with revenue over $1 billion. Here are 5 key insights about African CFOs from that survey.
Get smart join our February events and ask the JSE boss a question
Always wanted to ask Nicky Newton-King, CEO of the JSE, a question? In search of a unique, inspirational chat by an international 'lifehacker'? Keen to brush up on the latest technological innovations and inventions that CFOs should know about?
2015 a bumper year for CFOs
South African CFOs and FDs have never been in a stronger position to share knowledge, meet peers, learn from partners and network. And here’s the good news: 2015 is going to be even bigger and better!
CFOs of Woolworths, Denel and UIF among nominees for CFO Awards 2015
As 2014 draws to an end, more and more nominees for the CFO Awards 2015 are revealed. Supermarkets and retailers are well represented with Mark Godfrey (Group Financial Director at SPAR), Reeza Isaacs (Group Finance Director at Woolworths) and Mr Price Group's CFO Mark Blair already among the nominees. Ronel van Dijk, CFO at Spur Group, has also been short-listed. We recently spoke to Van Dijk about Spur's expansion plans and her role in the continuous growth of the business.
CFO Awards 2015 judged by impressive group of industry leaders
One of the biggest success factors of the inaugural CFO Awards in May this year was the impressive panel of judges that was willing to interview and adjudicate each and every candidate for the various award categories. Not only CFO of the Year winner Simon Ridley (Standard Bank), but virtually all the other award nominees remarked what an honour it was to be judged by such an impressive group of industry leaders.
Andrew Hannington, CEO Grant Thornton: Making a mark after the merger
The merger of two proud audit and advisory firms is not an easy process, but Grant Thornton Johannesburg CEO Andrew Hannington feels his company is in a strong position to face the competition. “We still have two buildings but we have moved half of our people across to promote integration. We are looking at new premises so we can all be under one roof. It hasn't been easy, but tax and audit departments are already working very well together.”
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.
Microsoft seeks conversation with CFOs to "see magic happen"
"As a technology company, we don’t have enough conversations with the CFO,” confessed Rory Headon-Weeks. During CFO South Africa’s successful Digital Transformation event on Thursday 11 September, the Chief Technology Officer (CTO) of Microsoft South Africa gave the CFOs present some fascinating insights in the ways of the future. And he invited finance leaders to visit the Microsoft Technology Centre in Johannesburg and “see magic happen”.
CFO of the Week: Jurgens Myburgh, new CFO at Datatec: "I strive to be multidimensional"
“I strive to be a multidimensional CFO,” says Jurgens Myburgh, who recently swapped an impressive career in Corporate Finance at Standard Bank for a role as CFO at information technology group Datatec. In anticipation of learning from more experienced peers, Myburgh has joined CFO South Africa as a platinum member. “It will be great to network with like-minded people, bounce ideas off experienced individuals, gather intelligence on best practice and stay up to date. You can’t afford to operate in a silo.”
Fascinating insights at Digital Transformation event
Digital transformation… For some CFOs and FDs the term equals headaches, internal resistance or pricey solutions. But other Chief Financial Officers have found out that the better use of modern IT solutions has equipped them to fulfil their role as true partner to the CEO. During a successful and well-attended event in the Tintswalo at Waterfall hotel in Johannesburg on Thursday 11 September, finance leaders had the opportunity to chat about the topic with peers and learn from market leaders.
Peter Goss (SizweNtsalubaGobodo) gives CFOs insight in fraud risks
A fascinating talk on the governance of fraud risks was one of the highlights of a very successful CFO South Africa event around Corporate Growth on 10 July 2014 in the immaculate Saxon Boutique Hotel in Johannesburg. It was Peter Goss, Head of Forensics at audit and advisory firm SizweNtsalubaGobodo (SNG), who captivated CFOs and finance leaders with a master class on the detection, prevention and governance of corruption and fraud.
Karl Kumbier, CEO Mercantile Bank: Weight behind entrepreneurs
“The difference between a good and a great CFO is that the latter assists his CEO pro-actively and spends a lot of time in the business,” says Karl Kumbier, Chief Executive Officer of Mercantile Bank. In a candid interview with CFO South Africa he talks about his impressive career in the banking industry and the way his bank can help spur on economic development and employment by providing financial solutions for entrepreneurs.
Standard Bank's Simon Ridley named CFO of the Year 2014
The votes are in! Who wins the CFO Awards 2014?
Interview Guideline CFO Awards
In March and April CFO South Africa will interview all nominated CFOs. We ask each of the judges to be present during two interviews. The reports of these interviews will be added to the dossier of each CFO and will be used by the judges to determine their individual votes.
South African top CFOs share their thoughts at CFO SA dinner
An impressive group of prominent South African CFOs discussed topics ranging from personal branding and ethics to shared services and cloud solutions during an exclusive dinner on13 March 2014 in the Saxon Boutique Hotel in Johannesburg. “In our daily jobs we get mostly vertically involved in our organisations. It’s great to break out of that every once in and a while and discuss topics laterally with our peers,” said Standard Bank Group CFO Simon Ridley at the end of the IBM-sponsored event.
CFO Profile: Simon Ridley | Standard Bank
Simon Ridley | Chief Financial Director | Standard Bank
Jury members CFO Awards interview Simon Ridley, FD at the Standard Bank Group
Yet another top CFO was interviewed on Wednesday as part of the jury process for the 2014 CFO Awards. Simon Ridley, Financial Director at the Standard Bank Group, has been a CFO for a quarter of a century - mainly with Absa and Standard Bank. He was quizzed about his challenges and successes by two jury members, both leading figures in the South African business world in their own right: CEO Victor Sekese of fast-growing accounting firm SizweNtsalubaGobodo and Rob Otty, Managing Director of Norton Rose Fulbright South Africa - Africa Law Firm of the Year 2012.
Victor Sekese, CEO of SizweNtsalubaGobodo: Never underestimate people
Anybody who has spent more than half a minute in the company of Victor Sekese, can testify that the CEO of SizweNtsalubaGobodo (SNG) is one of the most passionate business leaders in South Africa. On Thursday 3 October 2013 he delivered a powerful presentation on corporate growth, as part of the 5th CFO South Africa event at the Saxon Boutique Hotel in Johannesburg. He enthralled everyone with his insight, intelligence and sense of humour - leaving his audience inspired and optimistic about doing business in this country.
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.
CFO South Africa Newsletter | Register Now for the 5th CFO South Africa Event | Read Exclusive Interviews with Prominent CFOs
Jonathan Lang, Head Bowman Gilfillan Africa Group: The challenges of investing in Africa
“It is amazing how many South African and foreign companies are entering the rest of Africa at the moment, some without taking legal advice prior to, or after, their arrival. Some investors invest millions, buying a diamond mine in the DRC for example, but are unfortunately often then hit with unforeseen problems and need to come to us for legal help ,” says Jonathan Lang, head of the Bowman Gilfillan Africa Group (BGAG), one of the leading law firms in South Africa. “You have to be careful when doing business in Africa as it runs on a timeframe, language and way of its own and it makes all the difference to have expert legal advice at the outset, as litigating in the courts of some African countries is very challenging.
Eric van Marle, Vice President Transparent: South African CFOs are the drivers of great change
“You don’t want to know how many CFOs and banks we have helped with matchmaking,” says Eric van Marle. A networker at heart, Transparent’s Vice President likes to bring together business people who can help each other forward – something that aligns neatly with CFO South Africa’s approach. Van Marle is excited about Transparent’s presence in the South African market and he is not planning to curb his enthusiasm. “This market is very hot at the moment. South Africa has clearly made great leaps in economic development and everyone’s focussing on keeping that trend going. That’s where we can help.”
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.
David Ngobeni - CFO Shanduka: `Pulling in a Chinese shareholder`
“South Africa would be better off facing the challenges of the current economic situation with greater productivity and lesser restrictions.” David Ngobeni, CFO of an investment holding company, Shanduka Group, has a very clear vision on how laws in South Africa limit the country in its development. Supported by his great negotiation skills he hopes to bring his company to the top. After just (1,5) years as CFO, he seems to be heading that way steadily.
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.
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.
Lawrence Weitzman - CFO Business Connexion: `Today's CFO is much more of a business partner than the gate keeper`
CFO South Africa interviewed a large number of CFOs and CEOs of leading South African companies. This time we get to talk to Lawrence Weitzman, CFO of Business Connexion, Africa’s leading ICT Solutions provider. Business Connexion is a JSE-listed company employing about 6500 people. Lawrence is responsible for the finance and commercial departments, staffing about 200 people. BCX will have revenue of R6bn in 2012 at a 6% operating margin.
Nedbank Group and Gold Fields achieve Ernst & Young excellence
For the first time ever two companies, Nedbank Group and Gold Fields, have been declared the joint overall winners in the annual Ernst & Young Excellence in Corporate Reporting Survey.
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Standard Bank Group is the largest African banking group by assets, with a market cap of approximately R289 billion (USD20 billion), offering a range of banking and related financial services across sub-Saharan Africa.
Our strategy is to be an African focused, client-centred, digitally enabled universal financial services organisation, which drives Africa’s growth and creates value for all our stakeholders. Our clients are at the centre of everything we do. This is our central organising principle in building a digitally-enabled universal financial services organisation. It aligns our efforts to change the way we do things, develop our people and shift our culture, and ultimately create a sustainable competitive advantage in a changing industry.
We have a 156-year history in South Africa, and started building a franchise in sub-Saharan Africa almost 30 years ago. We have an on-the-ground presence in 20 countries on the African continent, and solid local knowledge required to operate a successful business in Africa.
Our presence in and connection with, global financial centres enables us to facilitate investment and development flows in Africa, and access to international capital to facilitate growth, diversification and development in Africa. We also have a strategic partnership with the largest bank in the world, Industrial and Commercial Bank of China (ICBC), who is a 20% shareholder in the group.
The long-term foreign currency ratings for The Standard Bank of South Africa, the single largest operating entity within the Standard Bank Group, are: Fitch Ratings BB+ (stable) and Moody’s Baa3 (Rating under review). Click here to read more on credit ratings. The group has been listed on the JSE since 1970, with share code SBK, and the Namibian Stock Exchange, share code SNB.
We subscribe to the Code of Banking Practice, a set of principles governing banking in South Africa and ensuring the highest standards of professionalism, integrity and fairness.
Phone: 0860 123 000