TB LThe Bottom Line

Top studentNelson’s top tips for success

The CGMA Africa Inaugural Conference

October • November 2017 Issue 105

ContentsPG 1. The Association

PG 2. Note from the Regional Vice President

PG 3. Top Student

PG 3. Becoming a CGMA after 24 years

PG 4/5. Catch all the action from the CGMA Africa Inaugural Conference

PG 6. BEE - an imperative for the South African economy

PG 9. Whats happening in Africa

PG 9. Dates to diarise

PG 9. Lawson Carmichael hosts the Africa Regional Board’s (ARB) first strategy session

PG10 . Finance Indaba

The Association of International Certified Professional Accountants was formed in 2016 to provide a platform to advance management and public accounting in the global village. Combining the strength of the AICPA and CIMA, the Association represents 650 000 student and members around the world. Currently the Association offers 17 credentials and certificates in various business related fields. Our designations, CGMA and CPA are recognised globally and our CPAs and CGMAs are employed by 150 000 employers globally. Don’t forget that our members will retain their regional membership while gaining membership in the Association.

Our PurposeCombining the strengths of the American Institute of CPAs and the Chartered Institute of Management Accountants, we empower the world’s most highly-skilled accountants – CPAs and CGMA designation holders – with the knowledge, insight and foresight to meet today’s demands and tomorrow’s challenges.

We drive a dynamic accounting profession that works every day to build trust, create opportunity and grow prosperity worldwide.

The Association

TBL October/November | Pg 1

We drive a

dynamic

accounting

profession that

works every

day to build

trust, create

opportunity and

grow prosperity

worldwide

Andrew Harding FCMA, CGMA, ACA, MBA

Chief Executive

Management Accounting The Association of International

Certified Professional Accountants

We live and work in a business and social environment that is changing faster than at any point I have seen in my career, VUCA!

The challenges of living in a VUCA (Volatile, Uncertain, Complex, Ambiguous) world prompted us to hold the CGMA Africa Inaugural Conference in Johannesburg, South Africa on 20-22 September 2017, to help address the big question: ‘How do we prepare, adapt and lead our organisations in these extraordinary times?’

With cyber-literacy, individuals, businesses, and entire governments suddenly possess the power to process vast quantities of data… but they also come up against fraudsters who want to exploit that data for their own purposes. In financial services, for example, over the past five years alone innovations such as blockchain, Bitcoin, and contactless payment have disrupted everything from trading floors to payment systems.

This remarkable speed of change is accelerating.

It took 75 years for the telephone to reach 50 million users worldwide.

It took TV 13 years.

Facebook, three and a half.

And Pokemon Go…just 19 days.

This breakneck pace of change presents us with big challenges. But challenges also mean great opportunities. With artificial intelligence, businesses must work out how tech can be an asset, not a threat, to employees.

As management accountants and business leaders, we owe it to the current and next generation by ensuring that our profession remains even more dynamic and relevant than ever.

Note from the Regional

Vice President

Badi Promesse FCMA, CGMA, MBA, PgD Man, Dip AIBM (Fin)Regional Vice President: Africa

Today, change is happening at unprecedented speed and fundamentally reshaping the environment where we operate.

We caught up with Nelson da Silva who was a top student for the May 2016 Strategic Case Study exam in South Africa. Nelson has an honours degree in Financial Management which he completed in 2006 at the University of Pretoria. He is currently the Manager of Product Costing and Material Controlling at BMW South Africa.

Nelson mentioned the qualification structure as an important factor in helping him complete his studies.

“CIMA has an excellent set up for students to complete their studies. The course layout is flexible in terms of opportunities to write. One can finish as quickly as one wishes,” he said.

As this was a case study exam, he also shared an important tip that future students will find useful:

“In case studies, think how you would approach a topic in a real work situation. Think practically more than theoretically, especially at Strategic Level. This will help earn top marks with examiners. Case studies can be really enjoyable, take the time to go through the business and think outside the box.”

Nelson looks forward to putting his new skills to the test:

“The qualification is validation that I am experienced and qualified as a management accountant on a local and global level.”

Congratulations to Mr Donatus Bosuh (second from left) from Ghana who completed his studies and earned a CGMA designation after 24 years of studying. Mr Bosuh’s story teaches us that perseverance and faith will help you achieve your goals. Mr Bosuh attributes the struggle to F3. His dedication to earning his designation is an inspiration to us all.

Top Student

Becoming a CGMA after 24 years

TBL October/November | Pg 3

Nelson’s top tips for success Think practically

Use real life situations when approaching the case study

Think outside the box

Push yourself and focus on the reward!

We live and work in a business and social environment that is changing faster than at any point I have seen in my career, VUCA!

The challenges of living in a VUCA (Volatile, Uncertain, Complex, Ambiguous) world prompted us to hold the CGMA Africa Inaugural Conference in Johannesburg, South Africa on 20-22 September 2017, to help address the big question: ‘How do we prepare, adapt and lead our organisations in these extraordinary times?’

With cyber-literacy, individuals, businesses, and entire governments suddenly possess the power to process vast quantities of data… but they also come up against fraudsters who want to exploit that data for their own purposes. In financial services, for example, over the past five years alone innovations such as blockchain, Bitcoin, and contactless payment have disrupted everything from trading floors to payment systems.

This remarkable speed of change is accelerating.

It took 75 years for the telephone to reach 50 million users worldwide.

It took TV 13 years.

Facebook, three and a half.

And Pokemon Go…just 19 days.

This breakneck pace of change presents us with big challenges. But challenges also mean great opportunities. With artificial intelligence, businesses must work out how tech can be an asset, not a threat, to employees.

As management accountants and business leaders, we owe it to the current and next generation by ensuring that our profession remains even more dynamic and relevant than ever.

Note from the Regional

Vice President

Badi Promesse FCMA, CGMA, MBA, PgD Man, Dip AIBM (Fin)Regional Vice President: Africa

Today, change is happening at unprecedented speed and fundamentally reshaping the environment where we operate.

We caught up with Nelson da Silva who was a top student for the May 2016 Strategic Case Study exam in South Africa. Nelson has an honours degree in Financial Management which he completed in 2006 at the University of Pretoria. He is currently the Manager of Product Costing and Material Controlling at BMW South Africa.

Nelson mentioned the qualification structure as an important factor in helping him complete his studies.

“CIMA has an excellent set up for students to complete their studies. The course layout is flexible in terms of opportunities to write. One can finish as quickly as one wishes,” he said.

As this was a case study exam, he also shared an important tip that future students will find useful:

“In case studies, think how you would approach a topic in a real work situation. Think practically more than theoretically, especially at Strategic Level. This will help earn top marks with examiners. Case studies can be really enjoyable, take the time to go through the business and think outside the box.”

Nelson looks forward to putting his new skills to the test:

“The qualification is validation that I am experienced and qualified as a management accountant on a local and global level.”

Congratulations to Mr Donatus Bosuh (second from left) from Ghana who completed his studies and earned a CGMA designation after 24 years of studying. Mr Bosuh’s story teaches us that perseverance and faith will help you achieve your goals. Mr Bosuh attributes the struggle to F3. His dedication to earning his designation is an inspiration to us all.

Top Student

Becoming a CGMA after 24 years

TBL October/November | Pg 3

Nelson’s top tips for success Think practically

Use real life situations when approaching the case study

Think outside the box

Push yourself and focus on the reward!

Catch all the action from theTBL October/November | Pg 4

CGMA Africa Inaugural ConferenceTBL October/November | Pg 5

Catch all the action from theTBL October/November | Pg 4

CGMA Africa Inaugural ConferenceTBL October/November | Pg 5

BEE - an imperative for the South African economySouth Africa requires an economy that can meet the needs of all its economic citizens, its people, and their enterprises in a sustainable manner. Government’s objective is to achieve this vision of an adaptive economy characterized by growth, employment and equity. Achieving authentic BEE has required a reassessment of traditional business models and corporate cultures.

The Bill, code and strategy document rely upon core policy instruments that have been designed to bring about BEE. These instruments are essentially measurement tools that will permit the public and private sectors to evaluate the BEE status of a particular enterprise. Failure to adapt to the new paradigm will have significant consequences. A real commitment to BEE is now a business imperative.

VeriFi BEE Solutions offers the following services: • Assess and certify BBBEE rating • Provide insight into BBBEE challenges facing various organizations • Provide insight and guidance on the actions required to elevate BBBEE status

Verification is an essential requirement that confirms a company’s participation and contribution. It provides an independent assessment of investment, performance and initiatives in a control system. Criteria against which companies are measured are provided by government and like an audit, verification must be performed annually.

A BEE certificate from VeriFi is advantageous for proposals for new business with government, the licensing of regulated activities, and leasing of premises from government or private businesses. A verified company can perform business in confidence, as its commitment to equality, nation-building and unique South African business processes will be recognized.

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Institute of Management Accounting and Strategy

working together to build a learned South Africa

IMAS provides the CIMA qualification on a full-time, part-time and distance learning basis. We also offer classes and support via online student portal and mobile app.

Inhouse tailored programmes for finance professionals

Employers, partner with us by

offering bursaries and internships

to our students

Contact our CEO on 011 331 7343 | nkosinathit@imas-sa.co.za

IMAS is happy to offer you and your organization tailor made accounting and finance programs to develop emplyees' key competences in business partnering and other areas

Celebrating over

20Yearsof Creating Future Business Leaders!

Botswana Accountancy College is a business school that was set up over two decades ago to contribute towards the human capital development in Botswana and beyond. Although the name suggests that the

College offers accounting programmes, BAC has over the years diversified its product portfolio to offer business, leisure, management and ICT programmes at undergraduate and postgraduate level as well as consultancy courses to augment professional skills. In achieving this diversification, the college has partnered with UK based University of Derby, University of Sunderland, Sheffield Hallam University and professional bodies such as Chartered Institute of Management Accountants (CIMA), Botswana Institute of Chartered Accountants (BICA), Association of Chartered Certified Accountants (ACCA) and Association of Accounting Technicians (AAT) to allow our graduates to have globally recognized qualifications and be globally competitive.

With two campuses in Gaborone and Francistown and over 10, 000 alumni in the market, the Institution aspires to be the leading Business School of Choice in Africa and beyond through delivery of quality

tertiary education to create future leaders who will add value to the economic growth of Botswana and the world

Gaborone CampusPlot Number 50661Fairgrounds International

P/Bag 000319Gaborone, BotswanaTel: (+267) 3953 062Fax: (+267) 3904 103

Francistown CampusPlot Number 31403Moffat StreetP/Bag 137Francistown, BotswanaTel: (+267) 2410 558Fax: (+267) 2410 534

Botswana Accountancy College

@BAC_BW

www.bac.ac.bw

School of Finance and Professional Studies Programmes:• CIMA (Chartered Institute of Management Accountants• ACCA (Association of Chartered Certified Accountancnts) ••• •

AAT (Association of Accounting Technicians) BICA (Botswana Institute of Chartered Accountants)CIA Certified Internal Audit

• Graduate Diploma in Taxation• Insurance Institute of South Africa• CIPS (Chartered Institute of Purchase and Supply)

• BA( Hons) Accounting & Finance• BA (Hons) Business Management• BA (Hons) Business Entrepreneurship & Leadership• BA (Hons) International Tourism Management• BA (Hons) International Hospitality Management • BA (Hons) International Banking & Finance

• BSc (Hons) Applied Business Computing •

• Enterprise Risk Management• Postgraduate Certificate in Infrastructure Finance • Certificate in Public Sector Procurement and Tender Process

Management • Postgraduate Certificate in Public Sector Project Management • Finance for Non Financial Managers

• BSc (Hons) Computer Systems Engineering BSc (Hons) Mobile Technologies

School of Business & Leisure

School of Computing and Information Systems

• BSc (Hons) Information Communication Technology• BSc (Hons) Business Intelligence and Data Analytics

• BSc (Hons) Network Computing

ICT Industry Skills Centre• SAP Acedemy• Microsoft Acedemy• CISCO Academy

number of short executive leadership courses forcorporate clients, including:

BAC strives to provide students with the capabilities and skills which position them as future leaders and effective participators in the country’s wealth creation. Arguably one of only very few tertiary institutions of its kind in the Southern African region, BAC offers a differentiated business model underpinned by a diversified suite of courseware in its portfolio of offerings.

The College offers globally recognised and accredited qualifications, promoting Botswana's standing as a knowledge-based society. BAC drives towards skills development at national level, capacity for building and transformation of the economies.

Our Archievements

• More than 10 000 professionals graduated across various disciplines.• All the 14 first ever BICA graduates trained at BAC.• BAC is the only ACCA Platinum Partner in Botswana and one of seven in Africa.• BAC is the only CIMA Premium Learning Partner in Botswana and one of the

five in Africa.• The winner of the 2016 AAT International Training Provider of the Year Award.• In 2016 BAC celebrated 20 years of creating business leaders.• BAC Won 2016 Best Public University Award and 2017 Best Local Public

Institution and Overall Exhibitor Award at the Botswana Human Resource Development Skills Fair and Career Clinics.

• BAC is a member of the Association of African Universities and International Association of Universities.

• BAC is the PMR Africa Diamond Arrow Award Winner of 2010 and 2016.

Global Partnerships with recognised UniversitiesOver the past few years BAC has developed strategic and collaborative relationships with internationally recognised University of Derby, University of Sunderland and Sheffiled Hallam University in the UK as well as international professional bodies.

As the institution aspires to be the Business University of Choice in Africa and Beyond.

ProgrammesThe College offers specialized programs at various levels that comprise of, Undergraduate, Postgraduate, Professional Accounting and professional short courses. These academic offerings provide students with access to critical academic thinking, leadership and service opportunities throughout their period of study.

Postgraduate Programmes• MSc Strategic Management• MSc Information Technology Management• MSc Project Management• MA Procurement & Logistics Management• MBA Masters in Business Administration

BAC@BW

Botswana Accountancy College

TBL October/November | Pg 8

Celebrating over

20Yearsof Creating Future Business Leaders!

Botswana Accountancy College is a business school that was set up over two decades ago to contribute towards the human capital development in Botswana and beyond. Although the name suggests that the

College offers accounting programmes, BAC has over the years diversified its product portfolio to offer business, leisure, management and ICT programmes at undergraduate and postgraduate level as well as consultancy courses to augment professional skills. In achieving this diversification, the college has partnered with UK based University of Derby, University of Sunderland, Sheffield Hallam University and professional bodies such as Chartered Institute of Management Accountants (CIMA), Botswana Institute of Chartered Accountants (BICA), Association of Chartered Certified Accountants (ACCA) and Association of Accounting Technicians (AAT) to allow our graduates to have globally recognized qualifications and be globally competitive.

With two campuses in Gaborone and Francistown and over 10, 000 alumni in the market, the Institution aspires to be the leading Business School of Choice in Africa and beyond through delivery of quality

tertiary education to create future leaders who will add value to the economic growth of Botswana and the world

Gaborone CampusPlot Number 50661Fairgrounds International

P/Bag 000319Gaborone, BotswanaTel: (+267) 3953 062Fax: (+267) 3904 103

Francistown CampusPlot Number 31403Moffat StreetP/Bag 137Francistown, BotswanaTel: (+267) 2410 558Fax: (+267) 2410 534

Botswana Accountancy College

@BAC_BW

www.bac.ac.bw

School of Finance and Professional Studies Programmes:• CIMA (Chartered Institute of Management Accountants• ACCA (Association of Chartered Certified Accountancnts) ••• •

AAT (Association of Accounting Technicians) BICA (Botswana Institute of Chartered Accountants)CIA Certified Internal Audit

• Graduate Diploma in Taxation• Insurance Institute of South Africa• CIPS (Chartered Institute of Purchase and Supply)

• BA( Hons) Accounting & Finance• BA (Hons) Business Management• BA (Hons) Business Entrepreneurship & Leadership• BA (Hons) International Tourism Management• BA (Hons) International Hospitality Management • BA (Hons) International Banking & Finance

• BSc (Hons) Applied Business Computing •

• Enterprise Risk Management• Postgraduate Certificate in Infrastructure Finance • Certificate in Public Sector Procurement and Tender Process

Management • Postgraduate Certificate in Public Sector Project Management • Finance for Non Financial Managers

• BSc (Hons) Computer Systems Engineering BSc (Hons) Mobile Technologies

School of Business & Leisure

School of Computing and Information Systems

• BSc (Hons) Information Communication Technology• BSc (Hons) Business Intelligence and Data Analytics

• BSc (Hons) Network Computing

ICT Industry Skills Centre• SAP Acedemy• Microsoft Acedemy• CISCO Academy

number of short executive leadership courses forcorporate clients, including:

BAC strives to provide students with the capabilities and skills which position them as future leaders and effective participators in the country’s wealth creation. Arguably one of only very few tertiary institutions of its kind in the Southern African region, BAC offers a differentiated business model underpinned by a diversified suite of courseware in its portfolio of offerings.

The College offers globally recognised and accredited qualifications, promoting Botswana's standing as a knowledge-based society. BAC drives towards skills development at national level, capacity for building and transformation of the economies.

Our Archievements

• More than 10 000 professionals graduated across various disciplines.• All the 14 first ever BICA graduates trained at BAC.• BAC is the only ACCA Platinum Partner in Botswana and one of seven in Africa.• BAC is the only CIMA Premium Learning Partner in Botswana and one of the

five in Africa.• The winner of the 2016 AAT International Training Provider of the Year Award.• In 2016 BAC celebrated 20 years of creating business leaders.• BAC Won 2016 Best Public University Award and 2017 Best Local Public

Institution and Overall Exhibitor Award at the Botswana Human Resource Development Skills Fair and Career Clinics.

• BAC is a member of the Association of African Universities and International Association of Universities.

• BAC is the PMR Africa Diamond Arrow Award Winner of 2010 and 2016.

Global Partnerships with recognised UniversitiesOver the past few years BAC has developed strategic and collaborative relationships with internationally recognised University of Derby, University of Sunderland and Sheffiled Hallam University in the UK as well as international professional bodies.

As the institution aspires to be the Business University of Choice in Africa and Beyond.

ProgrammesThe College offers specialized programs at various levels that comprise of, Undergraduate, Postgraduate, Professional Accounting and professional short courses. These academic offerings provide students with access to critical academic thinking, leadership and service opportunities throughout their period of study.

Postgraduate Programmes• MSc Strategic Management• MSc Information Technology Management• MSc Project Management• MA Procurement & Logistics Management• MBA Masters in Business Administration

BAC@BW

Botswana Accountancy College

TBL October/November | Pg 8 TBL October/November | Pg 9

What’s happening in Africa

Lawson Carmichael hosts the Africa Regional Board’s (ARB) first strategy session

Dates to diarise

Face-To-Face SessionsCongratulations to our newly qualified members in Zambia and South Africa.

Graduation in Zambia & ZimbabweCongratulations to our recent graduates in Zambia and Zimbabwe. Catch the highlights from their spectacular graduation evening.

Ho Technical University receives CIMA accreditationThe Ho Technical University (HTU) became the first CIMA accredited provider in the Ho Volta Region on 29 July 2017. The University was established in 1968 and will now provide study support to CIMA students in the Ho Volta Region. A training session that was held by Sonia Weston was attended by 15 HTU learners. Mr Edward Ayimey, the Dean of the Faculty of Business and Management Studies, was presented with a certificate by Paul Aninakwah.

EVP of Strategy & People Lawson Carmichael joined the ARB in their first strategy session.

Event DateBotswana Gala Dinner 3 November Western Cape Financial 14 November Modelling in Excel Mauritius Strategy on 24 Novemberthe MoveWestern Cape Annual 1 DecemberDinner

Ghana Honour’s NightThe Ghana Branch hosted its Annual Honours Night which was chaired by Gus Kessie, FCMA, CGMA. The event was held to commemorate top achievers and newly qualified CGMA members from the period August 2016 – July 2017. Global President David Stanford FCMA, CGMA, was a keynote speaker. He addressed relevant topics such as risk management and the advantages of having a CIMA CGMA designation.

It takes strategic vision to leadDid you know that you don’t need a degree to start a successful career after school or college? By training with CIMA you can bypass university and head straight for the world of business. Register as a CIMA student and work towards the Certificate in Business Accounting (Cert BA) with no experience necessary. You’ll gain new business and finance skills, and can add the letters CIMA Cert BA after your name once you’re qualified. If you keep studying with us, you could go on to become a Chartered Global Management Accountant (CGMA) designation holder.

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Register today and save 135 GBP! Visit us at cimaglobal.com/visiontolead or email Heather.Bangwayo@aicpa-cima.com

Catch all the action from the CGMA Africa Inaugural ConferenceClick to watch the videos

Join Regional Vice President Africa – Management Accounting Badi Promesse FCMA, CGMA, MBA, PgD Man, Dip AIBM (Fin); Chief Executive Andrew Harding FCMA, CGMa, CA, MBA and AICPA Chairman Kimberley N. Ellison Taylor, CPA, CGMA as they discuss the theme of the conference “Leading the way in a VUCA world”.

Catch the speaker highlights from the CGMA Africa Inaugural Conference.

View the photos from the CGMA Africa Inaugural Conference 2017.

It takes strategic vision to leadDid you know that you don’t need a degree to start a successful career after school or college? By training with CIMA you can bypass university and head straight for the world of business. Register as a CIMA student and work towards the Certificate in Business Accounting (Cert BA) with no experience necessary. You’ll gain new business and finance skills, and can add the letters CIMA Cert BA after your name once you’re qualified. If you keep studying with us, you could go on to become a Chartered Global Management Accountant (CGMA) designation holder.

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Register today and save 135 GBP! Visit us at cimaglobal.com/visiontolead or email Heather.Bangwayo@aicpa-cima.com

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