The week that was in the finance community

An interview with Grindrod's Xolani Mbambo, Tsogo Sun has a new CFO and more.

Finance professionals play a vital role during a mergers and acquisitions (M&A) process. CFOs or financial directors go beyond the reporting role when assessing a potential deal. They are often tasked with making the financial metrics of a deal work, creating cost and integration synergies between the acquirer and acquired.

CFO South Africa, which is M&A Africa’s sister publication and website, is close to financial professionals and their circles. Here’s what had the finance community talking this week.

An interview with Grindrod’s Xolani Mbambo

Xolani Mbambo (pictured) is the CFO at Grindrod, a large and listed holdings company. In the face of volatility, unbundling, and even closures, he keeps his eye on strategy as his north star – despite joking that he found his way into finance “by chance”.

He believes that the toughest aspect about his job is managing Grindrod’s exposure to commodity price volatility, commodity and customer concentration, sovereign risks in the countries. Read more here

5 easy ways for accountants to access the skills they need to succeed

Accounting firms of the future need to equip themselves with the necessary skills to be able to tap into ever-evolving technologies, set their practices apart and ensure their success. Four ways that accountants can continue to learn and access the skills they need in order to succeed include watching video tutorials, attending industry events, getting savvy over social media, and exploring online articles.

Read more here

Calib Cassim offers reassurance after the resignation of Eskom group treasurer

On Monday 15 July, Eskom announced that group treasurer Andre Pillay has tendered his resignation and will leave the company at the end of August 2019. 

In the statement announcing Pillay’s resignation, Eskom CFO Calib Cassim said that he and his team are cognisant of how critical the group treasurer role is for Eskom and have requested that Pillay remains in the position for the next two months to ensure a seamless transition and business continuity through the handover process. Pillay’s replacement will be announced in due course. 

Read more here

Tsogo Sun has a new CFO

Tsogo Sun has appointed former group corporate finance manager Laurelle McDonald as its new chief financial officer. 

Laurelle has been with Tsogo Sun for twelve years after the hotel and entertainment group acquired Gold Reef Resorts, where she served as an assistant financial manager at Silverstar Casino, then group financial manager and finally company secretary. She joined Tsogo Sun as corporate finance and treasury manager. 

Read more here