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Work Background
Property Practitioners Regulatory AuthorityInterim Chief Financial Officer
Feb. 2022 - Feb. 2023Gauteng, South Africa · On-siteKey Responsibilities over the business restructure/change management processes:
• Managed the transition of the entity from the Estate Agency Affairs Act to the Estate Agency Practitioners Act of 2019 which caters for a broader business model covering the entire property practitioners under the Real Estate sector, which resulted in the establishment of the Property Practitioners Regulatory Authority (as a new entity) in February 2022.
• Interpretation of the Property Practitioners Act and the accompanying regulations for incorporation into the operating activities and processes of the new entity.
• Change Management Processes of ensuring that the financial applications inherent from the new Act have been adequately mapped in the CRM and ERP systems for operational and financial management requirements of the new entity
• Review and update of Supply Chain Management policy to incorporate the National Preferential Procurement Policy Framework amendments of 2022.
• Managing the financial accounting and statutory financial reporting activities
• Management of key stakeholder relations from the regulatory, operational and statutory perspective Key Project:
Implementation of a Change Management process for transition of the organization from regulation of the Real Estate sector to a broader industry participation of regulating the entire property practitioners industry nationwide.
Invenxions Business Consulting ServicesDirector
Apr. 2020City of Johannesburg, Gauteng, South Africa · HybridInvenxions Business Consulting Services (Invenxions) is a provider of professional services in Accounting and Finance, Corporate Advisory Support Services, and we offer end to end business solutions to enhance value and assurance on business service delivery models. We offer best practice solutions to our clients which include amongst others, • Structured business solutions modelled to suit customer end user requirements.
• Accounting and financial management services
• Financial modelling
• Business strategy planning, implementation and performance management • Business Risk and Corporate Governance advisory services
• Design of business processes and policy management framework
• Planning, monitoring and evaluation of business integrated systems (CRM and ERP systems) • Mergers and acquisitions, including due diligence and enterprise valuation models
• Corporate Change Management and Restructuring advisory services
• Project management services
Liquid Telecommunications South Africa (Pty) Ltd Executive Financial Operations
Apr. 2008 - Feb. 2020Midrand Johannesburg · On-siteThe company's business model is centered around the provision of end to end telecommunication services to the market from an Electronic Communications Network Services licence. This includes the provision of voice and data services to other network operators, to ISPs, provision of Data Centre services, Satellite and Broadband services, enterprise Managed Services and end user Network Connectivity.
Duties: • Managing the overall accounting processes and internal control framework within Finance and business • Preparation of financial reports for management, group and for statutory reporting • Implementation and monitoring of internal control systems to ensure effectiveness and efficiency of operations for compliance with SOX requirements for listed entities • Stakeholder management and ensuring effective corporate governance for feedback to the Audit Committee and the Board • Evaluation of business cases for financial viability and for investment advisory role to management and the Board Projects undertaken:
• Being part of the 2007/08 negotiating team that formulated the MSA between the entity and Transnet for the provision of Enterprise Telecommunication services to the Transnet Group, which resulted in a revenue generating entity of more than R4.5 billion per annum.
• Implementation of the Warehouse Management System for the management of FMCG stock.
• Fund raising project for a start-up entity for formulation of the Loan Funding Common Terms Agreement with consortium of lenders for capital raising, and subsequent management of the loan covenant structure.
• Managing the business valuation model for the R6.5 billion enterprise valuation for the due diligence and valuation for the sale and purchase of Neotel (Pty) Ltd business to Liquid Telecoms.
• Accounting for Business Combination post the Neotel acquisition for the merger into Liquid Telecoms (IFRS 3 application) and protection of the R1.3 billion Goodwill in the Balance Sheet.
Transtel (Division of Transnet)Chief Financial Officer
May. 2001 - Mar. 2008Johannesburg Area, South AfricaResponsible for the entire management of the organization’s finances from financial planning, strategy and operations. Duties: • Ensuring the integrity of the general ledger and review of monthly financial reports for management and Group reporting. • Review of monthly, interim and year-end financial accounting and tax reports, for integrity and accuracy for audit and reporting to Transnet Group. • Preparing executive summary reports for management presentation to the Transtel’s management committee, audit committees and divisional board. • Coordinating the Balance Score Card information for financial, performance review analysis and interpretation of results against corporate plan targets. • Participate in the preparation of divisional and organizational business plans, and for alignment of the business plan to the budget. • Effect proper decentralization and management of the budget at cost centre levels, for enhancing responsibility and accountability of performance within business units. • Reviewing and balancing of inter/intra company transactions between business segments. (Transfer Pricing) • Capital investment planning and decision making. • Management of working capital, and optimization of the capital structure for Transtel’s Balance Sheet restructuring. • Liaising with external and internal auditors for the planning and roll out for audits, and for engagement with the Audit Committee. Projects undertaken:
• Conversion from GAAP accounting to IFRS (First time adoption – IFRS 1) in 2006.
• Implemented a turnaround strategy for optimisation of working capital from over 120 days cycle to less than 45 days cycle, and thereby re-engineering the business to a self-funding model.
• Managing the M&A process for the valuation model of the Transtel business acquisition by Neotel (Pty) Ltd/Tata Limited.
• Managing the business merger of the Transtel business model into the acquiring entity's (Neotel) business model.
Lesotho Electricity Corporation Financial Manager
Aug. 1999 - Apr. 2001South Africa · On-siteDuties: • Oversee the day to day operations of the Finance business unit. • Evaluation of financial and operating systems to facilitate an effective and efficient systems control environment. • Ensure that the accounting practices and policies comply with the Generally Accepted Accounting Practices (GAAP). • Prepare for the Board and management, the monthly and periodic management accounts and variance analysis reports. • Prepare year-end financial statements pack and supporting schedules for the audit.
• Participated in the drafting of business plans and budgetary planning decisions. • Business activity mapping into the budget plan, through activity based costing and variance analysis. • Carry out capital projects investment appraisal and tax planning decisions. • Revenue Assurance role to assess normal technical power transmission losses, and revenue leakages for plan of action in ensuring completeness of billing and revenue collections. • Management of billing exception reports from the mapping of billing meter records to meter survey data records for analysis of revenue leakage from unbilled power consumption Project undertaken:
Established the Revenue Assurance and Meter Survey departments following significant revenue loss due to illegal connection of electricity meters. The survey and connection of illegally identified meters to the billing database resulted in over R120 million cumulative recovery of unbilled revenue.
Lesotho Pharmaceutical Corporation Finance Administration Manager
Nov. 1997 - Jul. 1999Lesotho
Office of The Auditor General Auditor for State Enterprise Audits
Dec. 1996 - Oct. 1997
CARE InternationalFinancial Accountant Care International
Jan. 1994 - Nov. 1996Lesotho
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