Strategies for growth

There could be an upside to your anxiety disorder

Keeping an anxiety disorder from your coworkers? CA and entrepreneur Liezl Berry believes it makes you a better accountant.

Comair's Kirsten King: Flying high and staying grounded

The FD tells how she joined Comair to simplify her life, then her career took off.

Finance Indaba 2018 hot topic: Surviving the Fourth Industrial Revolution

The Fourth Industrial Revolution is upon us. Finance Indaba speakers explained how to be prepared.

Leading deal-making strategies explained by the experts

Wayne Koonin, Arie Maree and Piet Mouton share their strategies for closing winning deals.

Has your business planned for the death of email?

Once hailed as the killer app, email is dying. Are you ready for instant messaging?

CFOs' new relationship with tech explained - Deloitte's Arun Babu

The Enterprise Solutions head says CFOs are now important players in taking calculated technology risks.

KPMG SA appeals for recognition, patience and permission

Chairman Professor Wiseman Nkuhlu says KPMG is very different from what it was 18 months ago.

Motlanalo to access EY's resources, teams and expertise through new partnership

Motlanalo's Koko Khumalo: "I have been waiting for an opportunity to empower my staff."

SAA needs R7.5 billion to fund further operations

In a presentation, SAA suggested a turnaround plan and funding for the next month into 2019.

Behind the scenes: Capitec CFO explains the Mercantile Bank acquisition strategy

Capitec CFO André du Plessis says they've been doing their business banking homework for some time.

Navigating the winding path of finance transformation

Mountain biking and finance transformation: Deloitte's Carryn Tennent enjoys the twists and turns of both.

M&A Flash: Rob Bergman on cash stockpiling

Bravura's Rob Bergman explains why investors are holding onto their cash piles during uncertain times.

M&A Flash: Nhlanganiso Mkwanazi on SA's investment prospects

The Medu Capital founder says that belief in a brighter future is essential for investment.

BidX1 CFO reveals the rationale behind the Pam Golding Properties JV

Property to become a global market within 30 years, mobile phone property auctions are skyrocketing.

Comair's Kirsten King reveals strategy for beating static aviation earnings

Comair FD discusses how diversification will help the aviation company to deliver wider profit margins.

Resist the urge to cut back in tough times

When times are tough, many companies and organisations instinctively want to tighten their belts - and this often means cutting down on executive training and marketing spend.

GM shatters glass ceilings once again with CFO appointment

General Motors will have a new CFO on 1 September, when 39-year-old Dhivya Suryadevara takes the reins.

Hulamin suffers from US trade, foreign exchange headwinds

JSE-listed aluminum producer Hulamin has reported a 77% decline in headline earnings per share for the six months ended June 30

Beleaguered Eskom uncovers R19 billion in irregular expenditure

Eskom has reported a loss after tax of R2.3 billion in a disturbing set of results that reveal that the state-owned enterprise's woes are far from over.

Absa begins new era with brand refresh

Absa has overhauled its look and mission and changed its name as the bank enters a new Afro-centric era.

Partnership in private equity: Q&A with RMB Corvest's Mike Donaldson

Successful private equity is about patience, measured risk, and critically the right marriage of management and funder, says RMB Corvest CEO Mike Donaldson. It takes the same long term view and prior homework as a marriage - with the same extensive potential for mutual benefit.

CFOs believe digital transformation could mean bigger teams - survey

Finance chiefs are looking to add workers to boost digital transformation

PwC launches Japanese desk to facilitate investment on African continent

PwC has launched a Japanese-Africa desk to facilitate investment and partnerships, and improve links between businesses in Africa and Japan.

Biggest blocker to innovation is overspending on "keeping the lights on" - finance leaders

"State of Innovation" survey reveals numerous obstacles CIOs face, despite tangible benefits and ROI from innovation investments.

Amplats boosted by operational delivery improvements

Anglo-American Platinum (Amplats) shares rose on Friday on the back of a favourable trading update for the six months to end June.

Trade policy and geopolitics loom large in Deloitte CFO survey

With global economic performance improving, CFOs' worries have shifted toward their companies' abilities to capitalise on opportunities and potential threats.

Naspers reports hefty rise in profit

South African media and e-commerce behemoth Naspers reported a massive 72 percent rise in annual profit on the back of yet another imperious showing from Tencent.

CFOs fear effects of US trade war - global survey

Trade uncertainty has risen to be the biggest risk for corporations, according to the latest CNBC Global CFO Council quarterly survey EDIT EDIT EDIT EDIT EDIT EDIT EDIT EDIT

Wiese-backed Brait suffers R10,15 billion loss

Investment company Brait has reported a R10,15 billion loss for the year to end March.

4 productivity tips for finance professionals

Time management and efficiency drives are becoming ever more significant as the role of the CFO broadens to encompass non-traditional duties

CFOs concerned about hacking, optimism still high - survey

CFOs are growing increasingly concerned about data security threats, according to the Duke University/CFO Global Business Outlook

CEO confident despite Alexander Forbes' earnings hit

Financial services group Alexander Forbes has reported a 16,8 percent decline in headline earnings per share of 44,4 cents per share.

Strong online showing sees Mr Price post skyrocketing profits

Clothing retailer Mr Price Group posted a 21% rise in full-year earnings, boosted by its MRP Apparel, Miladys and MRP Money divisions, in its latest results presentation

Agile's Tshego Sefolo: The CFO is key to successful PE

"When we invest in businesses we look at the quality of the CFO; that individual is critical as they become our eyes and ears into the business."

Oceana delivers solid results

African fishing behemoth Oceana Group posted a solid set of results for the six months ended March 2018, as efficiencies on the continent and material volume improvements made an impact

Listeriosis-hit Tiger Brands reports fall in revenue

JSE-listed Tiger Brands recorded a 4 percent decline in revenue to R15,7 billion, for the six months ended March 2018.

A done deal: Webber Wentzel's Megan Jarvis lists six dos and don'ts

Deadlines, pace and face time are among the most important tools to strike a great deal, she says. 

CFOs lack visibility into their organisation's spend - study

Process and technology improvements are top priorities for global CFOs within two years

Google's Alphabet sees revenue soar

Commentators put the increase down to profits from advertising

5 benefits of CFOs collaborating with CIOs

A recent survey by Robert Half Management Resources and Robert Half Technology found that more than half (51 percent) of CFOs collaborate more often with their company's CIO today versus three years ago

Purple Group takes revenue hit

Investment holding company Purple Group has reported a decline in revenue of 8% to R34 million in the six months to end-February

Firms slow to adopt FinTech, executive optimism at all-time high - CFO survey

Firms are only slowly adapting to advances in financial technology even when they know it will affect their business models, according to a new survey

CFOs need to experiment with cognitive tech - Deloitte

Cognitive technologies have been adopted in other areas of business, inspiring finance to start learning about them, experimenting with them, and figuring out how to use them

Old Mutual Life reports slump in profits

The company is primarily concerned with the provision of all classes of life assurance, savings and retirement funding

LVMH posts analyst-defying first-quarter results

Louis Vuitton Moët Hennessy (LVMH) continued to set the pace for the luxury industry in compiling double-digit sales growth that analysts described as "remarkable"

Brainworks revenues rise in maiden results

Diversified investment holding company Brainworks has reported a 22 percent increase in revenue, to $58.6 million.

Appropriate risk management crucial for effective strategic leadership - ACCA

Organisations cannot exploit strategic opportunities nor can they protect themselves from potential losses or failures, without a clear steer from the top on appropriate risk taking, says the ACCA

Optimism swells among North American CFOs - Deloitte

Deloitte's CFO Signals survey of chief financial officers finds a surge in optimism among CFOs about the current and future states of major economic regions, as well as their own company prospects

CFOs identify operational risks that have harmed their companies - study

Equipment failure, cyber attacks and natural disasters have negatively affected operations, according to a FM Global-commissioned study

EOH profit slips, announces partnership

Leading technology service provider EOH posting a 19% growth in revenue in its interim results amidst challenging conditions

SA's new stock exchanges: the must-read explainer

CFO South Africa sat down with new exchanges ZAR X, 4AX and A2X to better understand the nuances of each.

Sasfin takes shuddering blow to earnings

JSE-listed Sasfin Holdings has reported a massive 41.81 percent decline in headline earnings per share

Never leave money on the table - CFOs get energy-savvy

Leading CFOs gathered for dinner at the exquisite Marble restaurant on 20 March 2018 to share insights and experience around the topic of energy efficiency.

Discovery performance boosts RMI figures

Specialist financial services investment holding company Rand Merchant Investment Holding (RMI) said it was boosted by Discovery's strong performance in its annual results presentation

Revitalised MTN overcomes adverse conditions in latest report

MTN delivered a solid overall performance for the year, with progress on many fronts, despite difficult economic conditions, according to CEO Rob Shuter

CFOs increase spending on digital transformation, seek competitive edge - survey

More than two-thirds (69 percent) of CFOs and senior financial executives planning to increase their investment in technologies that speed business change

Sasol earnings exceed expectations

Sasol's headline earnings per share showed a 17% increase in the six months to end-December 2017, above market guidance on the back of a higher oil price

eThekwini Municipality secures unqualified audit opinion

The eThekwini Municipality has released its annual report detailing its solid performance over the past year

Discovery posts strong results

The Group invested 8% of earnings in new initiatives, including in Discovery Bank, Umbrella Funds, Vitality Invest, and Discovery Insure Commercial Insurance

Comair delivers record-breaking results

The set of results continue a 71-year streak of profits for the aviation group, which goes all the way back to its founding

Marriott International to open 40 new luxury properties this year

40 new hotels for Marriott in 2018 will increase its property portfolio to 422 

SA companies invest over R9 billion in CSI in 2016/2017

According to Trialogue, companies in SA invested more than R9 billion in CSI last year

Murray & Roberts buys another 17% stake in Bombela

Construction firm Murray & Roberts has increased its stake in Bombela to 50%

Alexander Forbes continues turnaround with solid results

Alexander Forbes posted a positive set of interim results for the six months to end-September, as it continues with the implementation of its much-vaunted turnaround strategy

Decision Inc. mergers with Resolve Immix

The result is an IT global force that will use data and digital capabilities to empower decision-makers

Long4Life to buy SA drinks company

Brian Joffe's investment firm Long4Life has agreed to buy Cape Town-based Chill Beverages for R452 million

Barloworld makes gains, considers logistics exit

Listed distribution and industrial brand management company Barloworld maintained its revenue and operating profit levels from continuing operations

Acquisitions on the agenda in 2018 - EY

A new EY survey shows that more than one-half of financial executives globally intend to pursue acquisitions in the coming year

Clients first! FD Arno Daehnke reveals Standard Bank's five value drivers

Standard Bank operates with a model that lists five value drivers. And financial outcomes are not even number 1, 2 or 3.

Bidvest Bank to buy FinGlobal

Bidvest Group's banking unit has agreed to buy Hermanus-based FinGlobal for an as-yet-undisclosed sum.

To drive innovation, you need to allow failure, says Standard Bank's Josef Langerman

Josef Langerman, Group Head: Software Engineering and Organisational Change, talks about new ways of working at scale.

"Join us in transforming Africa" - Kalon Venture Partners at the African FinTech Awards

This is the most transformative era in history and Section 12J venture capital company Kalon Venture Partners, formerly known as Grotech, is expecting to be at the forefront of change in Africa, said CEO Clive Butkow in an informative session at the African FinTech Awards at Finance Indaba Africa at the Sandton Convention Centre on 13 October.

Create a broader environment to drive innovation, says CIB's Anré Klopper-Stroh

“Our role within Human Capital is to be the custodians of culture and strategically partner the people agenda that enables our business strategy,” says Anré Klopper-Stroh, Human Capital Head for the Corporate & Investment Bank (CIB) within the Standard Bank Group. “The role of the Human Capital team within CIB is to partner our people in, for and across Africa to realise their ambitions, thus enabling our clients and the communities in which we operate to achieve their objectives. Furthermore, we need to position ourselves for what the future holds by understanding the mindsets, skillsets, and toolsets required for our people to stay relevant and contribute to the ambitions of the business into the future.”

Tourism growth will boost SSA economies

Several Sub-Saharan African (SSA) countries can expect strong growth in the tourism sector, says new data revealed by Euromonitor International at the recent 41st Annual World Tourism Conference held in Kigali, Rwanda. International arrivals to Africa grew by 6.5 percent this year, reaching 18,550 million, it said.

Capitec becomes SA's second-biggest bank

As at June 2017, Capitec bank hit nine million retail customers – a number which makes it SA’s second-largest bank (using this metric - customer numbers).

Standard Bank's Richard Stout talks IPOs at CFO Summit

“There has to be a pretty compelling case as to why a company should list. You have to know why you're doing it because it's a costly endeavour both from a time perspective as well as economically,” said Richard Stout, Head of Equity Capital Markets Standard Bank. Stout was speaking at the recent CFO summit about sentiment in capital markets and whether initial public offerings (IPOs) are a useful avenue for raising cash in the current economic environment. “You're moving to an environment where you have a responsibility to a bunch of institutions that are going to expect you to execute a strategy and create value. I've done IPOs for the better part of 20 years and I think they are a great way of raising capital, but not every company should take that route.”

ClarkHouse joins Finance Indaba 2017

ClarkHouse has joined Finance Indaba 2017 as a gold partner and will make its second showing at the event at the Sandton Convention Centre in October.

Leaders are there to grow and empower staff, not to be their friend, says Rajesh Mahabeer

For his work as CFO of SANParks, Rajesh Mahabeer, now Head of Public Sector Finance and Deal Origination at Garuda Capital (Pty) Ltd, was nominated for the CFO Awards 2017. We chatted to Rajesh about his tenure at SANParks and how he turned the finance team around, setting a new strategic direction for the entity in doing so, as well as his new role in the M&A and corporate finance space.

Agriculture and mining growth forecast lifted by IMF

The Washington-based International Monetary Fund (IMF) has raised its forecast for economic growth in South Africa. It forecast growth of one percent for South Africa this year, up from the 0.8 percent prediction made in April.

Kenya Africa's second-best investment destination

EY, in its Africa Attractiveness Index 2017 (AAI 2017), has named Kenya as this year’s second-most attractive investment destination, pipped only by Morocco.

SA FinTech Synthesis acquired for R132m

JSE-listed speciality finance company Capital Appreciation has acquired FinTech firm Synthesis for R132,1 million.

Rajesh Mahabeer joins Garuda Capital from SANParks

Rajesh Mahabeer, previously CFO of SANParks, has moved to Garuda Capital, effective 1 May 2017. His new role as Head of Public Sector Finance and Deal Origination will see him working in the space of mergers and acquisitions and funds mobilisation.

M&A in sub-Saharan Africa soars

According to analysis by Thomson Reuters, the value of announced M&A transactions with any sub-Saharan African involvement reached $10.1 billion during the first quarter of 2017 – the highest opening quarter total in six years.

Kenyan economy grew 5.8 percent last year

According to the Kenya National Bureau of Statistics, Kenya’s economy grew 5.8 percent during 2016, slightly short of forecasts (government officials estimated the economy to have expanded by 5.9 percent), but a little above the 5.7 percent growth it saw during 2015. Moreover, the current account deficit narrowed 11.9 percent in 2016, to 5.2 percent of GDP.

Struggling ArcelorMittal raises R3.5 billion

ArcelorMittal South Africa is in discussions to borrow R3.5 billion as part of a capital raising plan, though it has not specified what the funds will be used for.

Capitec grows by 1.3 million new customers

Capitec Bank has reported record growth of some 1.3 million new clients for the financial year ending February 2017, bringing their total customer base to 8.6 million. This makes Capitec the third-largest bank in the country by way of active clients, ahead of FNB and behind Absa by only a fraction. Standard Bank holds first place.

Sea Harvest lists 42% of company, raises R1.3 billion

The Sea Harvest Group raised a staggering R1.3 billion by listing 42% of the company on the JSE, where it floated its shares at R12.50 each, leading to a group market capitalisation of some R3.14 billion. The company has said this will allow it to realise its vision of becoming a diversified global seafood company.

Fiscal prudence needed in SA, says Deloitte in its latest report

South Africa’s economy continues to be stifled by weak growth on one side and the need for fiscal consolidation on the other. So says Deloitte in its recently published Global Economic Outlook Q1, 2017, which features a section on the South African economy titled ‘South Africa: In a tight spot’.

Shoprite and Steinhoff end merger talks

Steinhoff International and Shoprite Holdings have terminated their merger negotiations. This follows much criticism levelled at the deal by various parties, as well as Shoprite minority shareholders arguing that the transaction was not in their best interests. Under the proposed deal, Steinhoff would have sold its African assets to Shoprite in exchange for a controlling stake in the latter.

Organise HR events that are different and engaging: CHRO SA meets Nova Human Capital

Nova Human Capital Solutions is a company that offers turnkey HR solutions to companies of all shapes and sizes. From simply providing payroll services to doing a total overhaul of a business’s HR function, they do it all. Last week, CFO Enterprise CEO Melle Eijckelhoff and Didi Sehume of CHRO South Africa met with director Debbie Victor and MD Scott Barrett from NOVA in the build-up to the executive HR round table to be hosted by Vodacom HR director Matimba Mbungela on 9 March.

Mondi Group acquires Excelsior Technologies

JSE-listed Mondi Group has acquired 100% of the outstanding share capital of Excelsior Technologies (a vertically integrated producer of innovative flexible packaging solutions) from funds managed by Endless LLP and certain other minority shareholders, for a total consideration of £33 million, on a debt and cash- free basis.

Twinsaver Group diversifies in FMCGs, acquires Validus Medical

The Twinsaver Group has announced its acquisition of Validus Medical, a leading manufacturer of hygienic disposable products. The sale, yet to be approved by the Competition Commission, signals a new chapter in Twinsaver’s journey as it moves to focus on establishing the business as a diversified FMCG company.

Deloitte celebrates Reporting Accountants award at DealMakers Gala 2017

Professional services firm Deloitte went home with the Reporting Accountants awards by Deal Flow during the 16th annual DealMakers Gala Awards Banquet on 15 February 2017 at the Sandton Convention Centre. A jovial CFO South Africa MD Graham Fehrsen handed the prize to Deloitte's senior manager Aubrey Sebothoma, together with DealMakers director Marylou Greig. KPMG won the Reporting Accounts award by Deal Value, just like last year.

Insider's guide to a successful acquisition strategy

To achieve superior growth, a company needs to get its organic growth right, but acquisition strategy is a crucial and very powerful tool. In this article, I delve into my experience as a CFO to provide an insider’s guide to a successful M&A strategy.

ARC acquires 10% stake in Alexander Forbes Ltd

Shareholders of listed specialised financial services group Alexander Forbes have approved African Rainbow Capital’s (ARC’s) acquisition of a 10% stake in its African operations, Alexander Forbes Limited. The price tag on the deal is some R753 million.

Higher global growth in 2017 says World Bank

The World Bank, in its latest Global Economic Prospects report, said it expected real gross domestic product (GDP) growth during 2017 to rebound to 2.7%, up from a post-financial crisis low of 2.3% in 2016. The multilateral lender added that growth in advanced economies is expected to rise to 1.8% in 2017, from 1.6% in 2016, while emerging and developing economies will see growth accelerate to 4.2%, up from 3.4% last year.

OPIC pledges $5 million towards emerging market investments

The Overseas Private Investment Corporation (OPIC), the US Government’s Development Finance Institution has announced the financing of up to $5 million to support Unreasonable Capital Fund I. Unreasonable Capital is a venture capital firm that invests in scalable and profitable companies working to address social and environmental issues that improve the lives of people living in underserved communities across Latin America, India, Asia and Africa.

Slow growth for SA in Q4

According to the latest survey from the Bureau for Economic Research (BER), the last quarter of 2016 will show only subdued growth.

Oceana sees good profit, great potential for more growth

Oceana, Africa’s largest black-owned fishing company, whose finance head Imraan Soomra (pictured) was recipient of the Transformation & Empowerment Award at the CFO Awards 2015, has seen impressive results for the year ending 30 September. Group revenue grew by 34% to R8.2bn, operating profit increased by 69% to R1.7bn, earnings per share was up by 34% and headline earnings per share was up by 20%.

Situl Jobanputra new CFO of Capital & Counties Properties

Capital & Counties Properties PLC (Capco) has announced that Situl Jobanputra (pictured) will be appointed to the executive director position of CFO effective 1 January 2017. This follows the resignation of Soumen Das as MD and CFO, announced on 26 July 2016.

ABSA Capital, RMB and Nedbank big winners at JSE Spire awards

ABSA Capital, Rand Merchant Bank (RMB) and Nedbank took home big awards at the 15th annual Spire awards, hosted by the JSE. ABSA Capital, RMB and Nedbank were crowned winners of the Best Bonds House, Best Fixed Income and Currencies House, Best FX House and Best Research House and Best Interest Derivative House respectively. RMB alone took home a total of 11 awards on the evening. Bernard Claassens (pictured), Manager: Fixed Income at the JSE, said:

Global investment firm buys KWV for R1.15 billion

UK-based investment group Vasari has finalised its acquisition of the operational assets of KWV for a sum of R1.15 billion. Vasari sees the South African wine and spirits producer as a “strategic asset” that will enable it to capitalise on growth opportunities in the wine and brandy sector. KWV was sold to Vasari by Niveus Holdings, the listed investment holding company majority controlled by HCI. John Copelyn, HCI CEO, writing in the company’s latest annual report, said that the exit from KWV was “very lucrative”, and that “the price achieved effectively doubled the value of Niveus’s investment over five years”. Boyce Lloyd (pictured), an SABMiller executive with more than 20 years of experience in the beverage industry, will become the new KWV CEO from November. Until recently Lloyd was the integration director for the AB InBev-SABMiller merger. Vasari has investments in various areas, such as alcoholic beverages, confectionary, soft drinks, and foods, across various markets, including Europe, Africa and Asia. Among its brands are independent Scotch whisky producer Whyte & Mackay, and Ethiopian brewer, Dashen Brewery.

Finance Indaba programme: SME Growth and Profitability - #findaba16

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: SME Growth and Profitability, a two-day programme for finance professionals working for smaller firms and medium-sized businesses.

Feeding a passion for growth: a chat to Finance Indaba founder Alex van Groningen

“We have been blown away by the number of partners and visitors the Finance Indaba Africa is attracting in its very first year,” says Alex van Groningen, the Dutch entrepreneur behind the successful knowledge sharing event on 13 and 14 October 2016 at the Sandton Convention Centre.

Sasfin profits rise

Sasfin has successfully circumvented the effects of the currently tough economic environment to grow shareholder value by 29%. Operating profit improved 31% (from R232 million in 2015 to R304 million), while profit was up 23.7%, to R238.7m. In addition, total income growth was up 25.1%. Tyrone Soondarjee (pictured), Sasfin group financial director, speaking at the recent financial results presentation, said the group reported growth across all its divisions, bar Treasury and Transactional banking, which collectively declined in profitability from R10.39 million to R6.559 million. Soondarjee noted, however, that the Treasury division did show strong performance, with a stable deposit base of R3.32 billion. According to the FD, group costs increased 19.8% to R828.3 million, largely as a result of increased investment in risk, compliance and IT, along with the inclusion of FinTech in its cost base. The cost-to-income ratio improved from 71.07% in the previous year to 68.89%, thanks to its cost containment strategy, which Soondarjee said has been “key to manage and showed notable improvement”.

New deal means possible black-controlled franchise stores for Kauai

In the hopes of introducing black-controlled franchise stores, Kleoss Capital Fund 1, a 100-percent-black-owned South African PE investment manager managed by Kleoss Capital, has acquired a minority stake in Real Foods, which owns the KAUAI, NÜ Health Café and Kohu brands. Hale Matsipa, Kleoss Capital CEO, has said that the company is excited about BEE transformation within Real Foods and believes there is potential to introduce black-controlled franchise stores within Kauai. Matsipa was quoted by Fin 24 as saying:

Badibanga Promesse new CIMA Regional Director Africa

Badibanga ‘Badi’ Promesse (pictured) was appointed Regional Director at CIMA Africa, effective 1 August. Badi has been a Strategic Account Director at CIMA since 2010, leading the region’s direct activities by managing its operations and driving both growth and strategy across Africa.

Balancing personalities is key to a strong team, says Graham McGregor, New GX Capital Holdings CFO

“The most unsettling thing for anyone is uncertainty,” says Graham McGregor, CFO of New GX Capital Holdings, a BEE investment holding company with interests in the environmental solutions, logistics, power and telecoms, and corporate finance advisory sectors. Sharing his experience, while in his previous position, of a merger that happened between two very different businesses under one umbrella company McGregor says keeping staff abreast of what was happening at all times was crucial: “Because if there’s a communication gap, people fill in the gap themselves.” He also learnt an important lesson:

New mining model needed, says 'most inspiring' accountant Coenie Middel

“In every industry, ground-breaking leaps into the future are being reported on an almost daily basis. All except for one – mining. Could it be that our current world view limits the way we think about mining companies? Could we invent a more powerful, more soulful, more meaningful way to mining? I think we can,” says expert accountant Coenie Middel.

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.

SAA halts R15 billion debt restructuring deal

Clarkhouse Human Capital's Roy Clark talks diversity and transformation

Roy Clark, MD of Clarkhouse Human Capital, recently moderated a thought leadership session where 20 CFOs were invited to discuss the role of transformation and diversity in the workplace, and what the role of a CFO is in fostering this. In this self-penned piece, Clark delves into why transformation and diversity are such misunderstood notions, and looks at how corporate South Africa can make these ideas work within their organisations.

Incredible lineup at CFO M&A event 21 July: post-deal integration

The ink is dry. The deal is done. You have just successfully completed an M&A transaction. The question is: what now? At our CFO event on 21 July 2016 at the African Pride Melrose Arch Hotel we will unpack how to go about integration or separation after a deal under the theme ‘Where the rubber meets the road’. An incredible lineup of top five CFOs will help us unpack what needs to happen after a merger, acquisition or sale.

Nigeria to inject $1.7 billion into capital projects

Nigeria's budget minister Udoma Udo Udoma has said that the government will soon be pumping much of the $1.76 billion earmarked for capital projects this quarter into Africa's biggest economy in a bid to encourage growth.

Minister Rob Davies: latest Ipap key to inclusive growth

Rob Davies (pictured), Trade and Industry Minister, speaking at a recent Cape Town launch of the latest Industrial policy action plan (Ipap), said there is a pressing need for South Africa to break away from a commodity-dependent economy, and that economic growth should not be based on unsustainable models. Davies further noted that there should be a move to a more diversified base in which employment creation and export-intensity, among other things, define South Africa’s growth trajectory. Davies said:

Zuma: We will reduce policy uncertainty and boost confidence

President Jacob Zuma, speaking at a recent press briefing at the Union Buildings, said government will reduce policy uncertainty to boost economic growth. The President said:

It's time to disrupt the funding landscape in SA, says Outsourced CFO's Louw Barnardt

Massive outflows of foreign capital from our borders. Slow economic growth and tough global trading conditions. Difficult regulations and red tape. Upscaling private companies in SA is a massive task. But if we’re serious about growing our base of job-creating private companies, something needs to be done. As a nation desperate for job creation, we need to delve deep in order to understand the critical constraints for unlocking growth. These are the thoughts of Louw Barnardt, co-founder and MD of Outsourced CFO, a financial management boutique of CAs which assists private company clients in gaining access to innovative funding solutions. The SAICA SME report states that, “According to SMEs, the main reasons for business failure are overwhelmingly cash-flow related”. A business of any size and in whichever industry needs financial stability to operate sustainably. Aiming to expand is an even more complex objective that requires SMEs to raise growth finance. Taking this into consideration, how can SMEs be expected to operate sustainably as well as grow, if accessing finance proves to be one of their greatest obstacles? The SAICA SME report concluded that SMEs start with too little capital, collect debtors late, are subject to bad debts, and have overheads that are too high. Government expects that 90 percent of new jobs will come from SMEs. Therefore, big businesses and the public sector need to realise that SMEs will be crucial for growth of the fiscus as well as the private sectors turnover. This then concludes that SME growth is not only to the benefit of the SME, but in the best interest of big business and the public sector.

Finance Indaba 2016: Future-focused HR is Clarkhouse Human Capital's game

Finance Indaba 2016: Transparent aims to help firms recover funds

“We will be talking about how businesses can recover working capital, not only from eliminating double- and over-payments, but also from improving efficiencies and using our payment analysis reports,” says Carolina van der Ark from Transparent, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg. In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.

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.