Fadzai Hove CA (SA)
Group Treasury Finance Manager at Alliance Media - Billboard & Airport Advertising- Claim this Profile
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Bio
Credentials
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Charetered Accountant South Africa
SAICA CA(SA)Jan, 2011- Nov, 2024
Experience
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Alliance Media - Billboard & Airport Advertising
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South Africa
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Advertising Services
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100 - 200 Employee
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Group Treasury Finance Manager
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Jan 2020 - Present
• Overseeing 24 African & 2 UAE RAK incorporated companies. Directly managing a staff compliment of 5 and indirectly monitoring activities of 17 employees. Reporting to the CFO. • Corporate strategic and financial planning (cash flow forecasting, analysis, investment planning and presentation to management)• Enforcing financial management mechanisms that minimise financial risk.• Ensuring compliance with the requirements of the different reserve banks in the countries of operation.• Managing, reviewing, approving and releasing all payments in line with standard operating procedures.• Liquidity management by forecasting the cash requirements of each company in advance and planning for funding.• Reviewing the monthly cash forecasts against actuals and implementing monthly variance reporting. • Intercompany loan management.• Review of bank reconciliations and reports that are appropriate for the users and in accordance with International Financial Reporting (IFRS).• Overseeing financial accounting systems for cash management and petty cash.• Overseeing the accounting function including maintenance of the general ledger for the treasury accounts.• Development and implementation of internal controls to safeguard the liquid assets.• Developing external relationships with appropriate contacts mainly auditors and bankers in the different countries of operation.• Negotiating with bankers on optimum investments for excess cash, optimum interest rates and optimum exchange rates for converting local currency to USD to avoid effects of currency depreciation. • Reviewing foreign payment applications, bank guarantee and account opening applications.• Reviewing Reserve Bank authorisations to remit foreign currency between countries and ensuring timely acquittals for import payments.• Providing leadership, direction and effective communication to the group to ensure efficient use of human resources in the treasury department. Show less
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Group Accountant Treasury
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Feb 2015 - Present
• Responsible for 20 companies• Participating in the provision of effective strategic and financial planning information (cash flow analysis and investment planning).• Researching and reporrting on factors influencing the business financial performance.• Analysing economic and market trends relating to investments and exchange rates.• Developing treasury management mechanisms that minimise financial risk.• Developing, implementing, and ensuring compliance with the requirements of the different reserve banks in the countries we operate in for foreign payments and receipts.• Ensuring that all statutory payments of the organization are done timely.• Controlling the ability of the company to be liquid by forecasting the cash requirements of each country in advance and planning for funding.• Providing controllership functions in order to ensure finances are managed according to legislation, policies and procedures and generally accepted accounting principles.• Developing and maintaining timely and accurate cash books and reports that are appropriate for the users and in accordance with International Financial Reporting (IFRS).• Developing and maintaining financial accounting systems for cash management and petty cash.• Reviewing the monthly cash forecasts against actuals and implementing monthly variance reporting. Monitoring and interpreting cash flows and predicting future trends.• Oversee the accounting function including maintenance of the general ledger for the treasury accounts.• Developing external relationships with appropriate contacts mainly auditors and bankers in the different countries of operation.• Providing leadership, direction and effective communication to the group to ensure efficient use of human resources in the treasury department.• Effectively supervising of the Treasury team. Show less
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Group Accountant Accounts Payables & Procurement
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Jul 2014 - Jan 2015
Responsible for 17 companies• Directly managing a staff compliment of 5 and indirectly monitoring activities of 15 employees.• Review and analysis of business performance against budget and producing variance analysis reports.• Review and approval of all supplier payments through sign of on expense payment packs and reconciliations, and presenting to the MD for final approval.• Review of supplier and landlord contracts to ensure compliance with terms.• Reduction of operating costs where possible by seeking new and renegotiating existing contracts.• Review of suppliers ageing to ensure trade taking place within limits. • Providing controllership functions to ensure procurement and supplier payments are managed in line with the company policies.• Developing, implementing and ensuring compliance with internal control, financial and accounting policies / procedure for procurement and supply chain management.• Ensuring that all statutory requirements of the organization are met including WHT, VAT and customs duties.• Controlling the procurement, supply chain and accounts payables and supplier relations.• Providing controllership functions to ensure that the cost of sales are managed according to policies and procedures and predetermined budgets.• Developing and maintaining timely and accurate cost of sales analyses and monthly supplier payment schedules.• Developing and maintaining financial accounting systems for accounts payables management.• Reviewing monthly results and implementing monthly variance reporting. • Overseeing the accounting function including maintenance of the general ledger for accounts payables.• Developing external relationships with appropriate supplier contacts and auditors• Providing leadership, direction and effective communication to the group to ensure efficient use of Human Resources and management of the procurement and accounts payables. Show less
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Regional Accountant
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Sep 2010 - Jun 2014
Consolidating and Reporting on Financial Statements:• Consolidating management accounts and year-end financial statements for external audits.• Cash flow management and consolidation.• Maintaining fixed assets register.• Accounts payables and accounts receivable management.Preparing and Evaluating Variance Analysis and Business Performance:• Conducting business performance analysis.• Planning and monitoring capital expenditure.• Verifying fixed assets inventory and requesting adjustments.Budgeting and Budgetary Control:• Developing budget assumptions and consolidating annual budgets.• Conducting variance analysis comparing actual results to budget / forecast. Show less
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ASSISTANT AUDIT MANAGER
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Oct 2009 - Aug 2010
Directly managing a staff complement of 10. * Ensuring compliance with International Auditing Standards. * Managing, supervision and guidance of audit teams, audit budgets and audit deadlines. * Supervision and mentoring of junior audit team members. * Reporting to audit partners on budgets, targets, performances and advising in technical changes occurring regarding accounting and auditing standards * Evaluation of audit evidence obtained and conclusions reached. * Review of management reports and reporting to management. * Review of financial statements in accordance with IFRS. * Reviewed the tax computations and deferred tax calculations in line with SARS (South Africa Revenue Services) provisions. Show less
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PwC
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Professional Services
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700 & Above Employee
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SENIOR ASSOCIATE
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Sep 2006 - Aug 2009
Directly managing a staff complement of at most 10 (depending on audit engagement). * Prepared audit budgets, monitored costs and followed up on variances. * Reviewed IFRS sets of financial statements. * Reviewed complex inter-company balances and transactions. * Participated in the determination of the functional currency of Zimbabwe on the transition from Zimbabwe dollar to multicurrency and the financial reporting impact. * Determined the treatment of the abovementioned transition and the application of International Financial Reporting Standards * Calculation of hyper inflated deferred tax for motor vehicles given the Requirements of IFRIC7 and statutory restriction of deductible allowances. * Calculation of the impairment of short term receivables whose sales do not have an explicit effective interest rate as the cash and credit price are the same. * Calculation of pay provision following the provisions of IAS19. * Determination of the treatment of prepayments denominated in a different functional currency in accordance with IAS21:16 and IAS 21:23. * Determination of proper classification of lease agreements of a listed property entity. * Determination of the treatment of share based payments in the absence of market prices in line Show less
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Education
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SAICA
CA (SA), Accounting
Community
