WNS is a leading Business Process Management (BPM) company.
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.
Articled clerk Xolani Ndawonde inspired by CFO South Africa
Articled clerk Xolani Ndawonde got in touch with us to let us know how CFO South Africa has motivated him while he completes his studies.
Sars takes aim at Christo Wiese - reports
Billionaire businessman Christo Wiese has been caught up in a case in which Sars claims that a law firm at which he was an executive, ENS, helped multinational oil company Tullow shift about R3,9 billion in assets out of the country
Anchor Group lists on A2X
This is the ninth listing for the still fairly new exchange.
Motsepe-backed ARC mulls TymeDigital takeover
Patrice Motsepe's African Rainbow Capital is reportedly in talks with the Commonwealth Bank of Australia to become the sole owner of digital bank TymeDigital
AFGRI Group Holdings creates investment holdings company AGH
It has also raised additional capital to fuel growth in agriculture, food processing and financial services.
27four to buy Prescient Life
The financial services group announced today that it has entered into an agreement to buy 100 percent of Prescient Life.
More profit for Naspers
The company is seeing excellent returns from Tencent and other e-commerce businesses.
Remgro buys a stake in Vumatel
This in a bid to get in on the action, as SA's broadband network expands rapidly.
The return of Pepkor
Steinhoff Africa Retail says it plans to change its name back to Pepkor Holdings.
Attacq now a Reit
Mall of Africa owners Attacq have converted to a Real Estate Investment Trust (Reit) on the JSE.
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."
Township-based entrepreneurs get business boost
Entrepreneurs will benefit from a new incubation programme recently launched in Mitchells Plain.
I have something of a rebel in me, says Westfalia Fruit's Bongani Manzi
Bongani Manzi, Westfalia Fruit's GM of Finance, says he has a future CFO role in his sights.
Be the change - it's there for the taking, says Graham Fehrsen
To embrace change you need to be real, says CFO SA's MD, Graham Fehrsen
Mercantile Bank not short of buyers
Mercantile Bank CEO Karl Kumbier says plenty of buyers have expressed interest in the bank.
FinTech revolution fizzles as startups seek engagement with banks
FinTech firms are toning down the fighting talk that marked the beginning of the movement, as the realisation dawns that they will be hard-pushed to succeed without the support of incumbent banks
BP's Udayan Sen nominated for CFO Awards 2018
Indian-born chartered accountant Udayan is a finance professional with 25 years' post-qualification experience
Isaac Mophatlane joins Crossfin board
The BCX founder joins executive directors Dean Sparrow and Anton Gaylard, co-founders of Crossfin
Things aren't always as easy as you're used to: Chris Patricios, group CFO of Primedia
Show your team how much you value them and they'll go above and beyond, the finance head says.
CFOs must rethink their entire way of working, says Ray de Villiers of TomorrowToday Global
Any business that doesn’t make a shift towards digital is ultimately staring down the barrel of redundancy, says world-of-work guru Raymond de Villiers of TomorrowToday Global. CFOs are key enablers of the decisions that need to be made to make this change, Raymond said, before unpacking eight future-proof elements of successful business models.
Do you want to learn financial modelling? Meet Finance Indaba sensation Colin Human
Too many CFOs spend their time as financial gatekeepers and get tangled up in accounting, says Colin Human, financial modelling wizard and CEO of financial management consultancy Goalfix.
I wanted to serve, says Ramasela Ganda, Public Sector CFO of the Year 2017
Earlier this year, Ramasela Ganda won the Public Sector CFO of the Year Award for her incredible accomplishments at Ekurhuleni Municipality. She dedicated the prize to “all public servants that serve us diligently and with honesty” and referred specifically to public sector CFOs who have “lost their lives because they said no to corruption”. Long eschewing a CFO role in the private sector, she left Ekurhuleni at the end of last year and started as CFO: rental and corporate service at Barloworld, which had been courting her for quite a while.
To change the future, we must confront the past, says Vusi Thembekwayo
What do we mean by transformation? This was investor Vusi Thembekwayo’s burning question at Finance Indaba Africa on 12 October 2017. The entrepreneur made it clear that transformation was not about ticking boxes and counting how many black people, black women and transgender individuals are employed in corporate South Africa but rather, about ensuring the oppressed are no longer oppressed and the poor no longer poor.
Change starts with the people on the ground, says Grassroot's Luke Jordan
Any plans for change in South Africa will never get off the ground unless they involve the people on the ground. This was the key takeaway from Luke Jordan, co-founder and CEO of non-profit startup Grassroot, while speaking at the Finance Indaba Africa on 12 October 2017.
Finance Indaba 2017: Refocus on core competencies with New GX Advisory
"New GX Advisory enables businesses to refocus on core competencies and creating value to all stakeholders by freeing key staff members from the burden of IT infrastructure, systems and process management," says Anja Goosen, head of systems at New GX Advisory Services, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.
Journey to the core: CFOs deep-dive during exclusive dinner
During an invite-only CFO South Africa dinner at the spectacular Four Seasons hotel in Westcliff, finance leaders swapped notes about outsourcing, building internal capability and identifying the – sometimes shifting – core of the business. Sponsored by global BPO giant WNS, the exclusive gathering provided conversation of extremely high quality, highly effective networking and a high-powered ending, thanks to the inimitable storyteller Rob Caskie.
Bidvest continues to grow amid economic volatility
South African industrial conglomerate Bidvest announced that it managed to grow its full-year trading profit by 4.6% to R6 billion, defying challenging market conditions, in a results statement issued on Monday.
Success comes from surrounding yourself with positive, life-affirming people, says Nyasha Dzumbunu, CFO of SBU
“Change is the only constant in these times. In that situation of volatility and uncertainty, we always try to stay adaptable to change. Being a more agile and adaptable organisation is critical in enabling us to survive and thrive,” says Nyasha Dzumbunu, CFO of Shanduka Black Umbrellas (SBU), one of the leading enterprises in supplier development organisations in South Africa. While she may be a powerhouse CFO Monday to Friday, in her downtime, Nyasha likes to design women’s clothing – a passion she hopes might one day blossom into a full line of corporate and casual wear. “It’s about power dressing – helping women look and feel spectacular – and I’m very passionate about this. I feel it’s important to express one’s femininity even when you’re in a power role.”
Oakbay sells Tegeta
In the second sale of its businesses this week, Gupta-owned Oakbay Investments has announced that is has sold Tegeta Exploration and Resources to Swiss-based Charles King SA. The deal has a R2.97 billion price tag.
Blue Label Telecoms finalises Cell C recapitalisation
Blue Label Telecoms, a listed telco group, has finalised its recapitalisation of mobile operator, Cell C.
Operate at the coalface to be a catalyst for change - CFOs at CFO Summit 4
Agility is a word that is bandied about in boardrooms across South Africa, but how does one actually achieve it? How do you step away from your desk as a CFO and really get to grips with the business? Can you find out how the business ticks without abandoning your finance duties?
Change is inevitable, embrace it, says Loveness Khunou, Dow Southern Africa CFO
Originally from Malawi, Loveness Khunou, Dow Southern Africa CFO, moved to South Africa in 1989. She has a passion for cultures and languages, and is fluent in eight different dialects. “It shows respect if you learn another’s language. It shows that you value them,” she says. “It allows you to better engage with people, and people relate to you differently if you talk to them in their Mother tongue.”
Lead the way you want to be lead, says Fabian Naidoo, CFO of Right to Care
“As a leader, you should create an environment that allows for growth in the team and for people to feel passionate about the work that they do,” says Fabian Naidoo, divisional CFO of non-profit organisation (NPO), Right to Care (Rtc). Fabian is currently also acting as finance director of the RtC Group. Fabian says his philosophy about work can be summed up by this quote from Steve Jobs, ‘The only way to do great work is to love what you do’.
Walter Leonhardt, Coca-Cola Beverages SA FD, talks continuous improvement
Successfully merging companies is no small feat. Walter Leonhardt, award-winning FD of Coca-Cola Beverages South Africa, talked a group of CFOs through Coca-Cola’s journey of ‘continuous improvement’. “Authenticity is key because it plays on trust. If you want to win the trust of employees, you have to be authentic. You’ve got to do what you say you’re going to do, and follow up on what you say you’re going to follow up on,” the seasoned finance executive said.
I came to finance less by design and more by default
“I am operationally focused and have good attention to detail and follow up. If there is a problem I determine immediately what the issue is and address and follow up with management and hold them accountable,” says Melanie Chong, FD of Oakbay Resources and Energy Limited, a company in the business of mining and exploration of energy-related resources. Oakbay mines coal for the local market and owns one of the largest uranium resources in the world. It also mines gold as a by-product at its uranium mine. We caught up with Melanie to talk about her role at Oakbay.
Vodacom revenue inches upwards, targets African expansion
Mobile network giant Vodacom announced incremental growth in revenue and profit in the year to end-March in its final results presentation on Monday, despite chopping its rates to offer a more competitive pricing structure to its customers.
The CFO should ensure due diligence is accurate and meticulously undertaken, says Sibanye's Charl Keyter
A thorough, smart and stealthy due diligence process is among the top ingredients for successful mergers and acquisitions. We spoke to finance executives and dealmakers about the homework a growth-hungry company needs to do. “You don’t always want to let the staff of the other company or companies know you are doing this process,” says Sibanye Gold CFO Charl Keyter. “You have to be stealthy so as not to raise suspicions.” Charl gives one of the best and certainly most amusing explanations of due diligence:
CFOs must be open to frank conversations about race and transformation
Hosted by globally renowned public speaker, venture capitalist and entrepreneur Vusi Thembekwayo, yesterday’s CFO master class sought to bring to light the uncomfortable issues about inequality, the real impact of BEE and the prejudices that business leaders still have – be they white or black. Vusi opened the session with some chilling words, saying that one of the greatest lies told about South Africa is that the country had a peaceful transition to a democratic state.
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.
Weak economy hurts Pick n Pay
Pick n Pay posted an 18 percent rise in full-year profit, as the supermarket chain targeted labour costs amid political tensions and significant pressures exerted on the South African consumer. Headline earnings per share was 264.35 cents in the year to end-February compared with 224.04 cents a year earlier, while sales grew 7 percent and a dividend of R17.30 per share was declared.
Five building blocks of radically improved external reports
In recent decades, voluminous and increasingly complex quarterly and annual reports have lost much of their relevance for their primary users: investors. In their book, The End of Accounting, Baruch Lev and Feng Gu empirically prove that the relevance of accounting information is indeed lost, and go on to explain why this happened. Then they introduce new ways to make the reports relevant again.
Finance flash: the TOP-10 articles of week 11, 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.
Finance flash: the TOP-10 articles of week 7, 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.
CFO Frank Abbott predicts upward trajectory for Harmony Gold
Harmony Gold CFO Frank Abbott is certain that the mining company will be able to continue its upward trajectory. He set this on Thursday during presentation of results for the six months ending 31 December 2016, attended by CFO South Africa.
Knowledge is power, says NCR CFO Ayanda Mafuleka
“Everything I do is informed by risk. At any given time, we try to manage risk – be it business, financial or other. The NCR’s approach is that it takes risk management very seriously,” says Ayanda Mafuleka, chief financial officer of the National Credit Regulator (NCR), which falls under the Department of Trade and Industry (dti). Ayanda’s role includes overseeing the financial health of the organisation and ensuring that it complies with all the financial management-related legislation, as well as overseeing supply chain management and information technology (IT). A firm believer in the value of education, Ayanda is currently doing a Postgraduate Diploma in Forensic Auditing and recently applied at Unisa for an LLB. “I’m passionate about legislation and compliance. I was made to be a lawyer.”
Finance flash: the TOP-10 articles of week 2, 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.
5 CFOs who grew up poor
The country's CFOs have the financial firepower to enjoy a luxurious lifestyle, but for many, the life they now lead in the upper echelons of business is a world away from the circumstances they found themselves in growing up, dreaming of a better life. Here are five CFOs who overcame the odds to beat poverty and join an elite club of financial executives:
Jessica Uhl succeeds Simon Henry as Shell CFO
Royal Dutch Shell has a new CFO: Jessica Uhl (pictured). Uhl takes over from Simon Henry, who has held the role for the past seven years.
AB InBev to sell Distell stake in entirety
Anheuser-Busch InBev (AB InBev) has announced that it will be selling its entire stake in South Africa’s Distell Group to state-owned pension fund, the Public Investment Corporation (PIC). This was part of the agreement concluded during AB InBev’s $100 billion takeover of SABMiller, as stipulated by the Competition Tribunal.
Evan Tsatsarolakis, Taste Holdings' CFO, talks about the Starbucks and Domino's acquisitions
“We started a new business in Domino’s – our stores had only been open for a year before we started another new business with Starbucks. The food business was like a startup within a startup. At this point in time there are a lot of moving pieces,” says Evan Tsatsarolakis, Group CFO of Taste Holdings, and a CFO Awards 2016 nominee. He adds that while this brings its own complications and challenges, he is confident that future growth opportunities will be plentiful. We sat down with Evan to talk about the two acquisitions, his role as CFO and what it is about Taste Holdings – which began as a family-owned business but which is now a JSE-listed group operating eight brands within its Food and Luxury Goods divisions – that makes the company so successful.
Township SMEs crucial for economic growth
According to Andile Sangqu (pictured), Anglo American executive head, township economies should not be seen as secondary to or less important than big business.
FedGroup harnesses solar power for wealth creation
Financial services provider FedGroup is disrupting traditional approaches to wealth creation with the launch of its direct ownership network, which involves the ownership of a physical asset to generate income, instead of investment.
Save lives and the environment: join the Clean Cooking Revolution
In 2016, a very large portion of our population still live on the outskirts of society. Unilever’s 2014 Survivor report spoke of about 70% of SA’s population living off less than R6,000 per month. For these people it is therefore crucial to save where possible on obvious expenses such as water, electricity and even items such as food and toiletries.
Women and success: Roy Clark chats to top CFOs Mary Vilakazi and Jo Pohl - #findaba16
Two vibrant women, Jo Pohl and Mary Vilakazi, whose dynamism and energy radiates throughout the room, sat down with Roy Clark from Clarkhouse Human Capital and discussed their views on women and success. To say it was inspiring is an understatement – these two women shared such powerful messages that even the most astute and experienced business person would walk away with a burning passion to succeed.
Osman Arbee, double winner at CFO Awards 2016, ready for new challenge at Imperial
Far from slowing down now that retirement age is looming, Osman Arbee is about to enjoy a serious promotion. The CFO of Imperial Holdings will become CEO of Imperial Motors in January, and will hold both posts simultaneously for three months while he grooms the next CFO to replace him. “It’s not a bad way to finish off your career, running a big business for three to four years then retiring,” he says. “It’s a nice change at the right time of my life, working with people I enjoy working with in a business I know and enjoy. It’s an opportunity to use my brain in another way.”
Accept failure, says Charles Savage of award-winning Easy Equities - #findaba16
The biggest failure in business is that failure itself is not accepted and it is something to be shunned upon said Easy Equities CEO Charles Savage. Teach your staff to accept failure, said Charles during an inspirational session at the Finance Indaba Africa on 13 October 2016.
Zero-based budgeting: Accenture's Madeleine Joubert explains it all - #findaba16
Most CFOs think that good budgeting means cutting costs instead of looking at ways to stop wasteful spending, said Accenture’s Madeleine Joubert during Finance Indaba Africa, which was held at the Sandton Convention Centre on 13 and 14 October 2016. But zero-based budgeting means focusing on both top and bottom line, she explained. "It’s not about cutting costs, but redirecting the money.”
Careers on the couch: international experience expands your career - #findaba16
Two CFOs who have developed their careers by working in different locations around the world share their views on whether international experience is essential on your CV.
Vusi Thembekwayo opens Finance Indaba with thought-provoking innovation talk - #findaba16
Can you unlearn what you know and learn what you not yet understand? That is what maverick investor, disruptor and global speaker Vusi Thembekwayo asked finance professionals during the energetic and thought-provoking speech that officially opened Finance Indaba Africa 2016 in the morning of 13 October 2016.. "Are you able to innovate and build a business for the future?"
Finance Indaba 2016: Scale up your business with Sureswipe
"Sureswipe champions entrepreneurial growth by ensuring that we can provide accessible and affordable payment solutions that add value and sustainability to their business," says Paul Kent, MD of Sureswipe, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.
Finance Indaba 2016: Cassel & Co is your financial recruitment specialist
"We have deep insights into the industry, including regulatory and governance issues, which makes the recruitment process much smoother and more professional, both from a candidate and a client perspective," says Georgina Barrick, MD of Cassel & Co, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.
Finance flash: the TOP-10 articles of week 38
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.
Rob Tims named new Rhino Resources CFO
Rhino Resources, a global energy company, has announced the addition of London-based CFO Rob Tims to its leadership team. Tims, a 25-year veteran of the oil and gas industry and whose experience spans operations, finance, banking and consulting, has for the past 10 years, served as Managing Director with responsibility for Africa at Standard Chartered Bank. Patrick Mulligan, Rhino Resources President and CEO, said of Tims’ appointment:
Finance Indaba 2016: Get your business moving with AgilePam
"AgilePam uses the latest and best web technologies to keep you connected on the cloud, where your work, information, data, files, contact information, everything, is stored safely and securely, in one place," says Leon Smith, lead software engineer at AgilePam, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.
Kinfundi: Helping employees educate their families
Business is about people. Of course it’s about profit, processes, technology, and many other things too, but ultimately it’s about people. The end buyers in all value chains are people, and the energy that drives a business is people: employees, management, owners, stakeholders. These people have needs as well as worries. A big matter on the minds of many is their family, and within this, concerns about education. An innovation turn-key, tax-friendly employee benefit product, Kinfundi, hopes to change this.
4 reasons for July's unchanged interest rate - KPMG's Maura Feddersen
In line with market expectations, the central bank’s Monetary Policy Committee (MPC) announced earlier this month that it would leave the leading policy rate unchanged at 7%, keeping the prime lending rate at 10.5%. Maura Feddersen (pictured), Senior Economic Advisor with KPMG Economics, Financial Risk Management, has identified four reasons why the South African Reserve Bank (SARB) kept interest rates unchanged.
Repo rate remains unchanged but downgrade still a possibility
The South African Reserve Bank (Sarb) made a decision yesterday to keep the repo rate at 7% and to revise the country’s growth forecast down to 0%. The Sarb has not, however, ruled out the potential for further interest rate tightening later in the year. Sizwe Nxedlana, FNB chief economist, said in a statement:
Finance flash: the TOP-10 articles of week 27
Finance Indaba interview: the rise & rise of Vusi Thembekwayo
Successful venture capitalist, celebrated businessman and popular international speaker, Vusi Thembekwayo’s impressive CV would make any professional proud. It’s hard to believe that Vusi, who grew up in Wattville township near Benoni, is only 31 years old.
KPMG's Gavin Maile: Fit to function
“If you are not active and reasonably fit, you cannot perform to the level that is expected of you as a top executive” says KPMG partner Gavin Maile. In this exclusive interview, Gavin reveals why he become an accountant, the challenges KPMG South Africa faced with the acquisition of the assets of Arthur Andersen in 2001, and what qualities a good CFO should have. Gavin heads the teams that services the automotive and construction industries in South Africa and candidly discussed the challenges they face in 2016. It might be an exaggeration to say that Gavin eats Comrades marathons for breakfast, but it is not far off the truth. He gets up at 5:15am most mornings to run or cycle, and has, over the years, completed 27 Two Oceans Ultra marathons, 11 Comrades marathons and 15 Cape Town cycle tours – among many other sporting exploits.
Sarb: Interest rates to remain unchanged
Lesetja Kganyago (pictured), South African Reserve Bank (Sarb) governor, has announced that there will be no change in the interest rate. Thus, the repo rate will remains at 7%, while the cost of borrowing will stay at 10.5%. A statement of the Monetary Policy Committee (MPC), issued by Kganyago, said that although headline CIP inflation has moderated since February, the respite is expected to be temporary, as petrol and food price pressures continue to intensify. The statement said:
Courage required of CFOs - keynote Prof Wiseman Nkuhlu at 2016 CFO Awards
"The CFO and his or her team should be a respected centre of excellence that is trusted for intellectual honesty, sound processes and transparency," said Prof Lumkile Wiseman Nkuhlu, Chancellor of the University of Pretoria, during a keynote speech at the CFO Awards on 12 May 2016 at Summer Place in Johannesburg. South Africa's first-ever black chartered accountant called on the attending CFOs to show courage "in times of persistent market volatility and rapid technological change".
From Alexandra to the boardroom: MMI CFO Mary Vilakazi
After being made partner at PwC as a 27-year-old in 2005, Mary Vilakazi was “under enormous pressure not to fail”. Since then Mary has morphed from hardworking auditor to group CFO at MMI Holdings, the umbrella for insurers Momentum and Metropolitan - with a period as a dynamic consultant in between. “I think my success is proof that you cannot underestimate the power of being given opportunities,” she says.
Retirement for celebrated Remgro CFO Leon Crouse, founding CFO of Vodacom
One of South Africa's most impressive CFOs, Remgro's finance boss Leon Crouse, is retiring today, on 31 March 2016. As founder member of the management team of Vodacom he was instrumental in the launch of the mobile communications giant, where he was in charge of the purse until he joined the Stellenbosch-based investment holding company Remgro in 2008.
Lawrence MacDougall named new Tiger Brands CEO
Tiger Brands, South Africa’s largest food producer, has appointed Lawrence MacDougall (pictured), currently with Mondelez International, as its new CEO. MacDougall's start date is yet to be announced.
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.
EY: Distress and divestments to dominate mining deals in 2016
According to a recently released report by EY, financial distress among mining and metals companies will shape M&A activity in the sector in 2016. Furthermore, divestments are expected to pick up pace on the back of volatility and uncertainty on the timing of a recovery. Wickus Botha (pictured), EY Africa Mining & Metals Sector Leader, said:
Krishnan Raghunathan (WNS): great CFOs have entrepreneurial flair
“A good CFO is an effective controller, but also has an entrepreneurial flair,” says Krishnan Raghunathan, global Chief Capability Officer at business process outsourcing giant, WNS. Krishnan is one of the speakers at CFO South Africa’s Get Smart in 2016 event on 23 February 2016, flying out of India especially for the occasion. In preparation for the event, we spoke to him about his interesting job title, his professional achievements, his take on the position of CFO, and the role finance leaders should play in Business Process Outsourcing (BPO), which incidentally is being accepted as Business Process Management (BPM) the world over.
Skilled local resources key in Africa, says Illovo CFO Mohammed Abdool-Samad
Africa is complex and diverse, so here’s a secret tip from Mohammed Hoosen Abdool-Samad, finance director at Illovo Sugar. “To succeed, you need to have a deep understanding of the political and macroeconomic landscape. This can only be done by having skilled and experienced local resources that understand the business environment. Overreliance on expats can result in the business being ‘unplugged’ from the local business environment."
Bikash Prasad, Africa CFO Olam International: Africa can feed the world
A conversation with Bikash Prasad always includes exclamations like “I am passionate about Africa” and “we are very bullish about the continent”. The finance wizard, nominated for the 2015 CFO Awards, readily dishes up facts and figures about Africa’s economic opportunities. “Olam’s investment in Africa in the last five years is over a billion dollars. It is humongous.”
Old Mutual's PE unit makes multiple new investments
5 questions for Bikash Prasad, Olam's new Africa CFO
Bikash Prasad has already been incredibly successful in restructuring and growing Olam International's business in Southern and Eastern Africa, notably striving to employ and develop as many local talents as possible. Recently the first hour supporter of CFO South Africa was promoted to Senior Vice President and CFO for the whole of Africa, still based out of Durban. We asked him 5 questions - here are his answers.
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.
Sasol Inzalo shares now trading on the JSE
Sasol Inzalo shares have started trading on the JSE empowerment segment. With MTN Zakhele shares having commenced trading in early November, this marks only the second listing on this segment.
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.*
What can CFOs and entrepreneurs learn from each other?
CFOs and entrepreneurs are known to sometimes bump heads. Why wouldn't they, there's so much to disagree on. But, if last night's CFO South Africa event was anything to go by, these two actually have more to agree on than disagree. The master class aimed to answer the question, 'What can CFOs and entrepreneurs learn from each other?' The conclusion was that they certainly can learn from each other if they just open their minds; the "crankier" CFO learning to be more open to risk, the "cowboy" entrepreneur paying more attention to the figures. And ultimately, both need to be aware of the "higher purpose" they are working towards.
David Jones, B-BBEE and success, a chat to Woolworths CFO Reeza Isaacs
"Finance had to make sure that common sense trumped emotion" during the acquisition of the Australian department store chain David Jones, says Woolworths CFO Reeza Isaacs during an interview with CFO South Africa. "We now have to ensure that the business is focused on delivering on the deal synergies.”
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.
Cash in, cash out - the amazing Fundamo journey
How Hannes van Rensburg’s start-up became a lynchpin of banking in emerging markets
South Africa's problem with illegal money transfers
Many South Africans worry about the country's high levels of crime; levels which, according to last week's release of the latest crime statistics, seem to be on the rise.
Expert Insight - How cultural and social factors impact your business in Ghana
Your business success in Ghana can hinge on the way you speak about your family, the things you use your left hand for and your respect for religion. In this Expert Insight Eric Osei, business analyst and author of the recently published book Doing Business in Ghana, talks us through the sensitivities, intricacies and opportunities.
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.”
Isuzu Trucks: Getting the perfect Truck to market faster with the 4most Enterprise Manager (EMA) powered by SAP Business One
ACSA CFO pleased with results, despite company's large debt
While there exist valid concerns about the company's current debt, Airports Company South Africa (ACSA) CFO Maureen Manyama is happy with the organisation's most recent results.
Chris Yelland: Shedding light on the power crisis
South African energy expert Chris Yelland warned corporates and consumers alike to expect load-shedding and power issues to continue over the medium term and insisted that generation capacity alone was not to blame in a though-provoking keynote address at the inaugural MyBroadband Cloud and Hosting Conference at Gallagher Estate, Midrand, on 9 June.
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.
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.
Nominee CFO Awards 2015, Brett Tromp, CFO Discovery Health
Brett Tromp 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: Paul Schmidt | Gold Fields
Paul Schmidt | Chief Financial Officer | Gold Fields
5 questions for Frank Rizzo (KPMG): weird relationships and strange insights from IT
Frank Rizzo is Partner and Technology sector leader for Africa at KPMG. During our upcoming events in Johannesburg (17 February) and Cape Town (19 February) he will deliver two thought provoking master classes about the latest and greatest in the IT world. In today’s partner interview we ask him what the major trends are and why CFOs should care.
CFO of the Week: Linda Kumbemba, loveLife: being the NGO's 'bad guy'
“If you’re a quick-solutions type person, you tend to look like the bad guy at a non-profit organisation,” says Linda Kumbemba, CFO at loveLife, South Africa's largest HIV prevention initiative for young people. “The environment is slower-paced compared to the corporates, but you have to move and keep agile. It is also great to be part of a successful behavioral change campaign even though its results can’t be measured in the way a CFO would usually want results to be measured.”
CFO of the Week: Austin McDonald (Promasidor): choose the consumer over the product
When Austin McDonald became a Chartered Accountant, he was already “the world’s worst engineer”. Although he is a self-professed “maverick” the Finance world has clearly suited him much better than engineering did, especially after he joined the family’s business: Promasidor. Now his CV boasts a successful rescue operation, a handsome R9 billion annual turnover and unequalled insight into African opportunities. “When looking at African countries, be consumer driven and not product driven,” he advises.
The CFO's approach to analysing an M&A transaction
An Expert Insight by Johann de Lange, founder of M&A advisory firm Pollination Capital*
CFO of the Week: Bob Head, Acting CFO at SARS: improving schools by influencing without power
Johann Kunz, ?Managing Director WNS Global Services SA: Financial outsourcing in CFO toolkits
Most CFOs will agree that it would be ideal if the talents in their finance team could be freed up to support the leadership with acquisitions, shareholder engagement and other value adding activities. Outsourcing company WNS Global Services offers them exactly that opportunity, says Johann Kunz, Managing Director at WNS in South Africa. “Outsourcing of financial functions is slowly taking off in South Africa and will become a standard part of a CFO’s toolkit,” says Kunz.
Philip Panaino, Division President South Africa MasterCard: Contributing to a truly inclusive financial environment
“This job has given meaning to driving Financial Inclusion in South Africa and doing good as a corporate citizen,” says Philip Panaino, division president South Africa in International Markets at MasterCard. “It has always been a passion for me to contribute to a truly inclusive financial environment. Here I am able to do that, whilst working for a large multinational. For me it is a perfect marriage, the best of two worlds.”
Bikash Prasad, CFO South and East Africa at Olam International: Contributing to Africa's agricultural future
“Africa should be a net food exporter, but it is a net importer at the moment,” says Bikash Prasad, CFO South and East Africa at Olam International, a Singapore-headquartered integrated supply chain managing firm and processor of agricultural products and food ingredients. The Durban-based Prasad has a passion for the continent. “We want to play an important role in the growth of Africa,” he says.
The votes are in! Who wins the CFO Awards 2014?
Deon Fredericks, Acting CFO at Telkom: Learning from each other
“We don’t have to reinvent the wheel,” says Deon Fredericks, Acting Chief Financial Officer at Telkom, Africa's largest integrated communications company. Fredericks joined the then state-owned landline monopolist in 1993 as a senior manager in internal audit and has worked himself up the finance ladder in an admirable fashion. Fredericks says he fully supports CFO South Africa’s mission to connect the country’s finance leaders. “CFOs are starting to play a more significant role, specifically on strategy. It is very valuable to learn from each other.”
Sphiwe Blose, Finance Controller Microsoft South Africa: A man whose personal success comes through helping others
Sphiwe Blose is not a self-made man. According to him, in business and in life focusing on the self is the worst way to make a man – success comes through working together and seeking this, Blose grew into the man he is today.
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.
Nominee CFO Awards: Wallace Holmes. CFO Afrocentric
Wallace Holmes is nominated for the CFO Awards. Here below the factsheet of Wallace and Afrocentric is shown. The factsheet together with his jury interview will be used to determine the CFO Award winners.
Nominee CFO Awards: Garth Saunders, Finance Director SABMiller
Garth Saunders is nominated for the CFO Awards. Here below the factsheet of Garth and SABMiller is shown. The factsheet together with his jury interview will be used to determine the CFO Award winners.
Pierre Heistein, business analyst: dealing with a changing work force
CFOs are dealing with “unprecedented uncertainty”, says Pierre Heistein, business analyst, economics instructor and regular columnist for Business Report. Heistein will be one of the speakers at CFO South Africa’s 13 March event ‘Get Smart in 2014’ and he is keen to address ways to tackle that uncertainty. “I especially want to look at what type of people you need to deal with this. There needs to be a rethink about how labour is used.”
Mike Benfield, CFO Metorex: CFOs are internal and external salespeople
“CFOs are actually salespeople,” says Mike Benfield, CFO for mining group Metorex. “We sell our business to financers and shareholders, but also sell it to our own staff and to the outside world. We have to be attractive employers, so we’re also selling the future to current and prospective employees.”
Kirsten Mocke, Finance Director EMC: what do the numbers mean?
With nearly 18 years of experience as a finance expert in the IT world, Kirsten Mocke has acquired a good grasp of the strengths and weaknesses in the management of South African IT firms. Days Sales Outstanding (DSO) “is often very high”, sales processes “could be more refined and defined” and forecasting is not taken seriously enough. “Many people can generate numbers.- I always say to my staff: don’t give me numbers, but tell me what the numbers mean.”
Humphrey Borkum, Chairman JSE Limited: Extraordinary accomplishments since democracy
“A listing at the stock exchange is still the best way to raise capital,” says Humphrey Borkum. It’s something you would expect the chairman of JSE Limited, the largest stock exchange in Africa, to say, but not a lot of CFOs have felt like taking their business public lately. “When companies get bigger though, these considerations become inevitable,” says Borkum. “I believe there will be a number of new big JSE listings in the future.”
CFOs discuss their challenges during successful Executive Dinner in Johannesburg
Every day, margins are being squeezed, skilled staff members need to be found and growth needs to be funded. The challenges that CFOs and Finance Directors face are multiple and they all come at the same time. What better way to recharge their batteries than bouncing some ideas off fellow finance leaders in the industry? Or shedding some frustrations during a delicious dinner in a top restaurant, surrounded by colleagues who share them?
WhitepapersNo items found.
Press ReleasesNo items found.
WNS is a leading Business Process Management (BPM) company. We combine our deep industry knowledge with technology and analytics expertise to co-create innovative, digital-led transformational solutions with clients across 10 industries. We enable businesses in Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare, and Utilities to re-imagine their digital future and transform their outcomes with operational excellence.
We deliver an entire spectrum of BPM services in finance and accounting, procurement, customer interaction services and human resources leveraging collaborative models that are tailored to address the unique business challenges of each client. We co-create and execute the future vision of 350+ clients with the help of our 41,000+ employees. Our global footprint spans 16 countries with 60 delivery centers worldwide including in China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, United Kingdom and the United States.