Finance Indaba Network launched

Finance professionals from across South Africa logged onto their computers to join the launch of the virtual Finance Indaba Network during a time when the entire country had to observe social distancing and isolation protocols.

On 15 October, thousands of finance professionals streamed into the gamified conference and expo for the first-ever virtual Finance Indaba Network. The Finance Indaba, which is normally held at the Sandton Convention Centre once a year, was reinvented as an online event to adhere to lockdown regulations. Through a unique collaboration with the online conference virtuosos from Vfairs, the full-day event offered a gamified experience with leaderboards, exciting scavenger hunts and incredible prizes.

Impact Sessions

The event boasted 10 Impact Sessions in which worldclass speakers and finance professionals shared their insights into some of the trending topics in the finance industry. The first session, titled “The Year Everything Changed”, kicked off early on the day with Vodacom group CFO Raisibe Morathi, University of Johannesburg CFO Nolwazi Mamorare and Momentum Corporate CEO Dumo Mbethe, who discussed how leaders are spearheading the new world of work after Covid-19 disrupted business, possibly forever. On page 68, these executives revealed how they weathered the Covid-19 storm and how their businesses will never be the same.

In another session, Tsholofelo Molefe, Telkom CFO at the time, Afgri CFO Rivasha Maharaj, and 2020 CFO Award winner Adcock Ingram CFO Dorette Neethling revealed that support, EQ and mentorship are critical for the success of women CFOs.

All three women agreed that relationships are a powerful ingredient for success. Tsholofelo has leaned on a sponsor, mentor and leadership coach trio over the years.

Dorette has enjoyed meaningful professional relationships for over 30 years, and said, “You don’t belittle yourself by asking for advice. Have someone trusted who can show you your blind spots, someone who can be frank with you.” Rivasha is passionate about mentoring young women, which she described as a humbling experience because the environments her mentees grow up in are tough, with peer pressure, lack of engagement from teachers and no role models. She believes the best mentee-mentor relationships are ones where there is space to listen and encourage, but not give answers, and be with someone who can be brutally honest with you. In his session, Professor Mervyn King advocated for a title change for CFOs to chief value officers, arguing that, in addition to managing and understanding the financial position of a company, it is the CFO who is responsible for creating value in the business. Read more on page 68. In one of the sessions, DRDGOLD CFO Riaan Davel, Barloworld CFO Nopasika Lila and Standard Bank CFO Sibusiso Xaba stressed how important it was for companies to have sufficient liquid assets during times of crisis.

In another session, Cybersecurity expert and founder of Cybersec Nathan Desfontaines, EOH group FD Megan Pydigadu and Bidvest Insurance FD Alastair Petticrew explained that protecting your business from a cyberattack takes vigilance from everyone in your company. Nathan pointed to the uptick in the number and scope of cyber-attacks in the last few months to illustrate the pervasiveness of the challenge. Megan and Alastair both shared their journeys to raising awareness of cybersecurity risks in their companies.

Gamified fun

In between sessions, attendees had the opportunity to take part in a scavenger hunt that saw them win one of three R5,000 cash prizes and a signed copy of Altron CEO Mteto Nyati’s bestselling book, Betting on a Darkie. To win the prizes, attendees had to look for ten Diamond Partner logos hidden in the auditorium and exhibition hall. The winners were: City of Joburg finance manager Asma Sheik, MSF Southern Africa FD Zanele Mokatula, and National Treasury CA trainee Kholofelo Mello.

Attendees also earned points for attending the live Impact Sessions, watching a demo at an exhibition stand or downloading a playbook, which was calculated on the live leaderboard during the event. The Leaderboard winner and winner of the R10,000 cash prize, an exclusive invitation to the CFO Awards and a signed copy of Mteto Nyati's book was Nico Pretorius, head of external reporting at Standard Bank. In second place was TW Profile Services financial controller phindile Majikijela, and in third place was Jaco Grobbelaar Accountants accountant Marizane Meyer.

Partner engagement

The event also offered virtual, live engagement with CFO South Africa’s partners, including Diamond Partners SAP Concur and Workday; Platinum Partner Coupa; Gold Partners ACCA, Automation Anywhere with TreasuryONE Automation, CaseWare Africa, CIPC, Oracle, Sage and Quick Consols; and Silver Partners BlackLine, College of Chartered Accountants, Dimago, EnterpriseWorx, Fasset, IIA SA, Kalon Venture Partners, Konsise, Sanlam and SoluGrowth.

However, the networking opportunities didn’t end there. Registrants for the Finance Indaba Network launch event automatically gained entry to weekly webinars with content matter experts and finance leaders, regular Network Conversations, as well as a trusted environment where finance professionals could ask questions, share thoughts and make professional connections.

“The event showcased the best of what the finance profession has to offer, both in terms of thought leadership and presence of service providers. It was an event that showed why CFO South Africa’s flagship event, the Finance Indaba, will continue to be a permanent fixture in the calendars of finance practitioners, regardless of whether it is hosted virtually or in person,” said Joël Roerig, managing director of CFO South Africa. As the Indaba drew to a close, thousands of attendees logged off from an outstanding virtual event, with their knowledge broadened, their networks expanded and their careers enhanced by the inspirational content and powerful interactions with their peers. l