CFOs chart a course for their future at a dinner with Graeme Codrington

Graeme Codrington, futurist, Deon Fredericks, SAA CFO, and Ted Willcocks, PepsiCo SSA CFO

On 10 October 2019, CFO South Africa, with the support of Standard Bank, hosted eight CFOs at the Saxon Library in Johannesburg for a dinner with futurist Graeme Codrington. The theme of the evening focused on how CFOs can be future-ready. CFO South Africa community manager John Deane opened the floor, asking the CFOs to share how they or their companies are changing the world for the better. Bidvest’s Mark Steyn shared how his company is working in partnership with the Christiaan Barnard Health Memorial Hospital to revolutionise non-invasive heart surgery, which will do away with the need for opening the chest when replacing damaged heart valves. Dis-Chem's Rui Morais ended the discussion, telling the story of how he and his brother created the Wink Foundation to help people complete their education, in honour of their mother, who passed away. Eight of South Africa’s top CFOs joined futurist Graeme Codrington to interrogate how they can prepare for their evolving lives and businesses.

Northam Platinum’s Alet Coetzee shared her company’s plans to create 4,800 mining jobs. African Rainbow Minerals’ Abigail Mukhuba shared her commitment to teaching maths to children in her extended family for four hours every Saturday morning. Telkom’s Tsholofelo Molefe told the group that she takes her children with her to help out at children’s homes. Cell C’s Zaf Mahomed mentors young articled clerks from previously disadvantaged backgrounds. Graeme steered the conversation to the Fourth Industrial Revolution. He pointed out that, to understand the changes that the global business landscape is weathering, we need to look back at the first three industrial revolutions.

The First, he explained, was the invention of machinery to replace the jobs of people. The Second, he said was the realisation by Henry Ford that by breaking down the production process into a line of simple,

Tsholofelo Molefe, Telkom CFO

Alet Coetzee, Northam Platinum CFO

XXX XXX Ted Willcocks, PepsiCo SSA CFO

repetitive tasks, greater efficiencies could be realised.

The Third was the invention of computers. And, he says, contrary to popular belief, the Fourth is not the invention of robotics and automation technologies – these are actually the natural extension of the Third Industrial Revolution. Rather, it is how the application of these technologies will influence human behaviour and the way in which we will do business – just as Henry Ford changed human processes with the introduction of the production line.

Graeme then challenged the CFOs to reimagine how people and business will be changed in the coming years.

A lot of the answers centred around education and how technology could make it possible for classes to be broadcast instead of taught by one million teachers. Teachers would act as facilitators for students who need help.

The conversation then turned to the impact the Fourth Industrial Revolution would have on the role of the CFO. Guests agreed that their roles would be more of an integrator, bringing together all the different aspects of the business and ensuring coherence between them.

Jonas Malebye, Standard Bank head: Investment Banking, and Mark Steyn, Bidvest CFO

• Abigail Mukhuba, African Rainbow Minerals CFO • Alet Coetzee, Northam Platinum CFO • Deon Fredericks, SAA CFO • Georgina Guedes, CFO South Africa editor in chief • Graeme Codrington, TomorrowToday Global futurist • John Deane, CFO South Africa community manager • Jonas Malebye, Standard Bank head: Investment banking • Mark Steyn, Bidvest CEO • Rui Morais, Dis-Chem Pharmacies CFO • Ted Wilcox, PepsiCo SSA CFO • Tsolofelo Molefe, Telcom SA CFO • Zaf Mahomed, Cell C CFO • Zaid Moola, head: CIB Client Coverage South Africa, Standard Bank