JUNE/ JULY 2016 ISSUE 98

THEBOTTOMLINE

T. +27 (0) 788 8723/ 0861 CIMA SA | E. johannesburg@cimaglobal.com facebook.com/theCIMACafe twitter.com/CIMAAfrica

CIMA is in the age of accelerating technological transformation that

will profoundly change both our societies and economies. It heralds

the start of an era of new systems of production, management

and governance. Successful businesses will need to deliver even

more value to stay ahead and management accountants will play

a critical role in helping them do so.

CIMA members should endeavor to lead this process. Our aim is to

ensure that the CIMA qualifications and designations continue to be

recognised as the most relevant in global management accountancy,

by employers, regulators and our profession alike. CIMA is appealing

to all members to cast their vote towards the proposed evolution

of the joint venture with the AICPA (American Institute of Certified

Public Accountants).

Voting opened on April, 18th and you have until June, 16th at 10:00am

(GMT+1) to make sure that your voice is heard.

Members have been sent an email from the Electoral Reform Society

(ERS) with a link to the voting website and two unique passcodes.

Although the email is being sent by ERS, the sender name says ‘CIMA’

and voting will only take a few minutes.

Under the proposal approved by CIMA’s council, both CIMA’s governing

body and CIMA’s Royal Charter will remain. You will keep your CIMA

designations and membership while also becoming an automatic

member of the new association, additionally, CIMA members would:

• Becomemembersofthemostinfluentialbodyofprofessional

accountants in the world, a body four times larger and representing

600 000 current and next-generation professionals

• Benefitfromenhancedrecognition,employabilityandahigher

profile for your profession around the world

• Benefitfromgreateradvocacy,research,memberresourcesand

learning opportunities, and

• Theabilitytospeaktothepublicinterestandourprofessionwith

an even stronger voice.

Remember to get your voice heard by voting before 16 June at

10:00am (GMT+1).

YOUR VOTE COUNTS – Evolution of our joint venture

cgma.org June / July 3/12cimaglobal.com June / July 212

CIMA South Africa had the pleasure of hosting

CIMA Deputy President, Andrew Miskin from

April 5th to 8th.

Upon arrival, he visited the CIMA offices in

Johannesburg to meet and greet staff, to share

his passion for management accounting and

developments in the organisation.

Andrew was asked what the theme of his tenure will

be, he responded: “To continue on the work of the

current president, to ensure that there is diversity

and inclusion in the management accounting

profession”.

He spent his time in the country attending the

Gauteng and KwaZulu-Natal Branch Annual

General Meetings and engaging with employers

and students.

He kickstarted his employer engagements meeting

with the Africa Advisory Leader at EY, Roderick

Wolfenden FCMA, CGMA a passionate CIMA

ambassador. On the agenda was the EY/CIMA

expansion strategy which aims to collaborate

on thought leadership initiatives with an African

focus and to grow together in the Africa markets,

particularly in South Africa and Nigeria.

He also met with Steven Killick ACMA, CGMA,

Partner at PwC South Africa. They discussed in

detail the changing role of the CFO and change

management for finance teams.

Backed by CIMA thought leadership Joining the

dots: Decision making for a new era the Deputy

President spoke on how CIMA could reinforce

these values in the PwC focus areas and was able

to reiterate the value that CIMA can bring to their

organisation.

The Deputy President also had the opportunity

to address the management team and students

at Anglo American to share his passion for

management accounting and to engage with them

about the future of CIMA and the evolution of the

joint venture.

The final leg of his visit included a meeting with

a newly accredited training partner, Ithala, a state-

owned financial services company based in Durban.

He met with Group CEO, Yvonne Zwane and her

team and presented the training partner certificate.

Ithala is passionate about CIMA and has committed

their entire finance team to studying CIMA as well

as introducing a graduate programme in 2017.

As aspiring business leaders climb the corporate ladder in today’s

globalised and rapidly-changing world, the skill sets they require

stretch far beyond traditional number crunching.

This is why CIMA has partnered with the Nelson Mandela Metropolitan

University’s (NMMU) School of Accounting and the University’s

BusinessSchool tooffer individualsandbusinesssomethingunique

to help them succeed.

Together they have developed 17 accredited short learning

programmes (SLPs), which are specifically linked to the CIMA

professional qualification. NMMU is now recognised as a CIMA

accredited Global Learning Partner.

NMMU is presently the only South African university to run accredited

CIMA-aligned SLPs, which cover topics such as project management,

relationship management, strategic management, risk management

and financial strategy.

“CIMA bridges the gap between education and employment,” said

Doug Withington, CIMA’s Higher Education Partnership Manager for

SouthernAfrica,whoflewinfromLondonforthelaunch.Hedescribed

the close collaboration between the NMMU School of Accounting and

theNMMUBusinessSchoolas“abridgeinthegapbetweentechnical

accounting skills and business skills.”

The courses, which are being offered from May 2016 will assist

students preparing to sit the CIMA exams.

“Students who are working find it difficult to complete the CIMA

qualification on their own,” said Zahra Cassim, Head of CIMA South

Africa. “Our vision and mission is to help people and businesses to

succeed. We want to provide the skills and competencies to grow the

community of management accountants.”

“Those writing the CIMA-aligned SLP’s will not be exempt from CIMA

examinations, but will be better prepared for them,” said NMMU

Associate Professor in Management Accounting, Johnathan Dillon, who

has been the key driver of the SLP programmes. “These programmes

provide a structured framework that will support CIMA candidates.

I believe the partnership between the School of Accounting, the

Business School and CIMA will provide relevant education that

changes business, for the good.”

In closing, Professor Prinsloo, Director of the School of Accounting

at NMMU said: “Management accounting – with its focus on

strategic thinking and sustainability – is particularly relevant to the

requirements of today’s rapidly-changing job market. Rapid change is

the new normal. To be a successful accounting professional in today’s

business world, you need to think both about the forces shaping

the organisations that you are serving, as well as how you, and the

finance function, can add value to your organisation. In this regard,

the knowledge and skills developed by the CIMA qualification will be

of great value.”

CIMA DEPUTY PRESIDENT visits South Africa

SA BUSINESS SECTOR to benefit from Pioneering NMMU/CIMA Short Courses

Receiving the CIMA training partner certificate is

Yvonne Zwane, group CEO of Ithala

Jitesh Jaganath ACMA, CGMA is awarded his Certificate

Michelle Terblanche receives her Certificate in Business Accounting

With KwaZulu-Natal Branch Chairman, Taher Jhavary

Celebrating the launch of the 17 short learning programmes are (from left) Doug Withington (CIMA)

Prof Frans Prinsloo (NMMU), Zahra Cassim (CIMA), Prof Steve Burgess (NMMU),

Prof Johnathan Dillon (NMMU), Leon Mouton (NNMU)

CIMA BRIDGES THE GAP BETWEEN EDUCATION AND EMPLOYMENT, SAID DOUG WITHINGTON, CIMA’S HIGHER EDUCATION PARTNERSHIP MANAGER FOR SOUTHERN AFRICA

cgma.org June / July 5/12cimaglobal.com June / July 4/12

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All members and students have a ‘My CIMA’ account where all your

personal information is recorded. If, for some reason, you are not

receiving all our communication, please login to update your personal

information including your address, current email and telephone details.

To log in to your ‘My CIMA’ account visit www.cimaglobal.com. Enter

your login details on the home page.

Choose to update ‘my details’

Update your contact details and your home address. To update your name, surname and or date of birth you will need to contact your local office and you will need to supply proof of details such as an identity document or marriage certificate.

It is your responsibility to make sure

your details are correct.

Benefitsofupdatingyourdetailsare

to keep:

•ReceivinginvitationstoallCIMA

events and CPD opportunities

•Receivingnewsancorrespondenceatyourpreferredaddress

HAVE YOU Updated Your Details?

CIMA has updated the Practical Experience Requirement (PER)

Process which is a set of criteria through which exam complete

students apply to become members.

Firstly, the process is now online and can be completed alongside your

studies from the time you start your Operational Level. It is accessible

via ‘My CIMA’ and allows for uploading, verification, assessment and

communication of the membership status and/or approval.

Although the process is completed online, the role of the assessors

remains integral as they will continue to assess your qualifications and

experience. However, the new system means that your application can

be assessed from anywhere in the world and that your results can be

communicated much quicker. Assessors will continue using a set of

assessment principles to ensure that the process is fair to each applicant

and the process will take up to five days from the time your experience

is uploaded.

Secondly, the requirements have been updated to align with the

professional qualification syllabus and the CGMA competency

framework. The updated requirements are:

•Aminimumof36months’experienceisrequiredacrossthefour

knowledge areas, with a maximum of 60 months to be evidenced

•Atleastfourcompetencycategoriesmustbeselectedbetween

TechnicalandBusinessskills(withatleastonefromeach)covering

the minimum 36 months

•Atleast18monthsmustbeattheintermediate,advancedand/or

expert levels.

•Theremaining18monthscanbegainedacrossfoundational,

intermediate, advanced and expert levels

•AminimumofonecompetencycategoryeachfromPeopleand

Leadership skills over 36 months

•Theseshouldbeinthecontextofthetechnicalandbusiness

skills and can be gained across foundational, intermediate,

advanced or expert levels

•Whereyouhavemorethanfiveyears’relevantexperience:

• You should upload detailed evidence for a maximum of five

years’ experience

• The remaining experience (outside of the five years) should be

recorded in your Career Progression Summary.

Benefits to students include:

•Accesstoabetteronlineplatform

•Adigitaldeliveryoftheassessmentresults

•Abilitytostartuploadingyourexperienceinstantlyfromthe

Operational Level

• Instantcommunicationtoapplicantswhentheymeetminimum

requirements

• Easeofcommunicationwithverifiersofexperience

•Aquickeranddefinedturn-aroundtime.

The new process is live and will run concurrently with the old one

until December 2016. This will allow all stakeholders reasonable

time to move over to the new online system. Face-to-Face sessions

will remain and are not affected by the introduction of the online

PER process.

UPDATED PER Process

CIMA POWERS UP INDIVIDUALS

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cgma.org June / July 7/12cimaglobal.com June / July 6/12

Business leaders from around the

world gave their perspectives on the

decision-making challenges they

face and how their organisations are

rising to these challenges to improve

their competitive advantage.

Philips Africa CFO, Alexander

Visser, speaks about how they

address the challenge of ensuring the right information is gathered

and communicated to the relevant people in the organisation.

Q When you look at the management information you are receiving

to base strategic decisions upon, do you feel you are always getting

the most relevant information for the decision you are making?

A This is definitely a challenge. Information that is available

publicly is not always enough to give us the in-depth, strategic

insight that we need to make the right decisions. In some markets,

for example, Angola or Ethiopia, there is a lack of transparency in the

legal framework.

To manage this, we have set up a very structured approach in

assessing elements that we want to understand before we make the

strategic decision. Typically, this is organised around operational and

strategic risk. We carry out a functional assessment looking at legal,

finance, fiscal and treasury issues. We also start identifying what kind

of partners we could work with and do background checks.

Then we actually go to the country and we talk with a whole suite

of consultants, accountants, lawyers, banks and even the

embassy. We simply test all the assumptions that we have made in the

desk research.

Q How do you get information to the relevant people in different

functions and locations across the organisation when you’re

making decisions?

A One of the issues that many companies, including Phillips, have

is that their system landscape is fragmented. We have introduced

a standardised system - the Philips Integrated Landscape - that

allows us to connect information from various functions and make

it available at the fingertips of people across the whole organisation.

Q How would you characterise your style of decision making?

A This is an area in which we have made some dramatic changes

over the past couple of years. We are a multinational with our Africa

headquarters in Johannesburg. Typically, we do centralise decision

making.

However, we are scaling down the headquarters and investing more

heavily in highly skilled people on the ground, in our frontier markets.

We’re moving more towards local, on-the-ground decision making.

So, the ‘districts’ are empowered to make any decision that is needed

to drive their top and bottom line, subject to clear limits.

Q What would you say have been the key benefits since you made

these quite significant changes?

A The most outstanding change is accountability - we can hold

them accountable, because they are responsible for every decision

that is made in the district.

High quality decision making has never been more important —

or more difficult. Learn more about what leading organisations are

doing to overcome these challenges at http://bit.ly/1pATNMf.

JOINING THE DOTS A business leader’s perspective

The risk landscape is constantly evolving and becoming complex.

Being able to identify and manage all the risks to an organisation

is no longer simple.

The increasing complexity of the business environment calls for a

new approach to managing risk, one that promotes resilience in a

heavily interconnected and integrated world. An organisational risk

leader will help drive the success of the business and take charge of

the risk agenda.

WHAT THEN, DOES IT TAKE TO BE A RISK LEADER?

1. Strategic partnership

A risk leader helps the board set the risk appetite of the organisation

in line with its business model and acts as wise counsel and

effective challenge to CEO, board and broader business. He/she

aligns business with a balanced risk/reward approach for effective

commercial business decisions and navigates board and executive

relationships.

2. Executive leadership

The risk leader takes charge of vision and purpose for the risk

function by inspiring excellence in business partnerships thereby

creating credibility and value. This is an enterprise-wide function

that balances framework, policy and process with forward-thinking

capability and navigation. This role includes a constant consideration

of future challenges including succession and ‘future-proofing’

the function.

3. Culture

The risk ‘culture-carrier’; the risk leader establishes the right culture

with the board and senior management team and understands the

present status of risk culture. They drive a winning strategy to a

mature culture that is right for the business and create an openness

where learning takes place. Once a culture is in place the risk

leader builds a network across the business to instil the established

risk culture.

4. Organisational capability

The creation and maintenance of a pragmatic, business-focused

framework, using management information to support risk/reward

business decisions and culture is an important function of a risk

leader. Here, the risk leader considers both internal and external

factors in the design and coverage of the risk function. The structure

isfluid,abletocontinuallyimprove,adaptandevolve.

Basedontheabove,theriskleaderpossessesthefollowingqualities:

•Communication

•Courage

•Credibility

• Integrity,ethicsandvalues

•Organisationalandstakeholdernavigation

Visit http://bit.ly/1TVu1ME for more resources and

information related to risk.

BE A Risk Leader?

CIMA members and students in the Eastern Cape gathered to re-establish the Eastern Cape branch committee.

The objective of the meeting was to provide support and revitalise growth in the Eastern Cape.

Samantha Louis, Africa Regional Director, spoke about the proposal to evolve the joint venture partnership between CIMA and the AICPA and introduced the new branch committee members.

TheEasternCapeBranchCommitteehelditsfirstAnnualGeneralMeetinginPortElizabethin1949andwasoneofthefirstBranchestobeestablishedinSouth Africa.

Branch Committee Members (L – R): Bruce Werner, Peter Louwrens, Dhitesh Jeena (Chairman), Head of South Africa, Zahra Cassim, Angus De Beer, Tertius de Ridder and

Africa Regional Director, Samantha Louis

EASTERN CAPE Members MeetingWHAT DOES

IT TAKE TO BE ARISK LEADER?

STRATEGIC PARTNERSHIP• Helps board set the risk appetite in line with the business model and acts as wise counsel and effective challenge to CEO, board and broader business • Aligns business with balanced risk/reward approach for effective commercial business decisions • Navigation of board and executive relationships

ORGANISATIONAL CAPABILITY• Creates and maintains a pragmatic, business-focused framework, utilising management information to support risk/reward business decisions and culture • Considers internal and external factors in the design and coverage of the function: creates a fluid structure; able to continually improve, adapt and evolve • Creates a risk function that can partner the business, enabling it to take ownership of risk with the risk function being the guardians

EXECUTIVE LEADERSHIP• Creates vision and purpose for the risk function; inspires excellence in business partnership to create credibility and value

• Creates an enterprise-wide function that balances framework, policy and process

with forward-thinking capability and navigation

• Constantly considers future challenges including succession and ‘future- proofing’ function relationships

CULTURE• Risk’s ‘culture-carrier’; establishes the

right culture with the board and senior management team

• Understands the present status of risk culture and drives a winning strategy to a mature

culture that is right for the business • Creates an open culture where learning from mistakes is possible. Builds a network across the business to embed appropriate risk culture including succession and ‘future-proofing’ function relationships

The experience and qualities required to fulfil these requirements

cgma.org June / July 9/12cimaglobal.com June / July 8/12

CIMA Nigeria held a session on transfer pricing opportunities and risks

which was attended by transfer pricing managers, finance managers, tax

practitioners and CEO’s.

Facilitated by Emeka Amadi ACMA, CGMA, a manager in the Tax and

Regulatory Services unit of PwC, the session imparted information, principles

and guidelines on transfer pricing including:

• Principlesoftransferpricing

•Transferpricingformultinationalenterprisesandtaxadministration

•Transfermispricingissuesinadevelopingcountry

•Makingtransferpricingworkindevelopingcountries

•Unitarytax

•TransferpricingregulationsinNigeria.

Transfer pricing involves the setting of the prices for goods and services sold

between controlled (or related) legal entities within an enterprise. For example,

if a subsidiary company sells goods to the parent company, the cost of those

goods paid by the parent to the subsidiary is the transfer price.

It is one of the most important issues in international tax and affects tax

authorities across the board.

One of the most commonly discussed issues in economics is how tax rates relate to

economic growth. Tax laws are constantly being revised and amended to align with

international best practice.

TheGauteng Branch hosted an information sharing breakfast onApril, 21st to provide

insight into developments in tax legislation and economic operating conditions as

announced by the Minister fo Finance, Pravin Gordhan in the 2016 budget speech. In

addition, attendants gained an understanding of where global and domestic markets are

likelyheadedwithrespecttogrowth,inflationandinterestrates.

The session was open to CIMA registered and prospective tax practitioners.

Other topics covered were:

• Importantrecenttaxchanges

•TheGlobaleconomy

•Prospectsfortheregionaleconomy

•ProspectsfortheSouthAfricaneconomy

During the first half of the year CIMA Branches hold their Annual General

Meetings (AGMs)

BranchesinBotswana,Gauteng,Ghana,Zimbabwe,KwaZulu-Natal,Kenya,Malawi

andMauritiusallconvenedtheirmeetings.TheAGMsserveasaplatformfortheBranch

Chairpersons to table the branch’s annual report, announce plans for the upcoming

year and introduce new branch committee members.

This year the AGMs were an even more significant platform for CIMA, not only for

reporting, but also for sharing important information pertaining to the voting process

for the Joint Venture with the AICPA.

Botswana Country Manager, Letus Chinyepi and

Professor Shiv Pal, Dean of the Faculty of Business

and Accounting at Botho University took employers

and tuition providers through the updated Certificate

in Business Accounting (Cert BA) 2017 syllabus in

Botswana on 30 March.

The updated syllabus consolidates the five existing

modules of the existing syllabus into four. The former

stand-alone Fundamentals of Business Mathematics

module is now integrated across other subjects, allowing

for contextual practical application of the subject.

The full syllabus content has been reviewed and refreshed,

following global industry and educational research to

ensure it remains up-to-date and relevant. It has also been

integrated into the three CIMA professional qualification

learning pillars - Enterprise, Performance and Financial.

EVENTS ROUND-UP CERT BA UPDATE Launched In BotswanaTransfer Pricing Opportunities and Risks

Attendees of the Transfer Pricing Opportunities and Risks session

Tiisetso Dlamini and Wessel Smit

Prof. Shiv Pal explaining the changes in the syllabus

CIMA BRANCH ANNUAL GENERAL MEETINGS A Huge Success

TAX AND ECONOMIC Update

The newly elelcted Gauteng Branch Committee from front (L – R): Tshepang Masala, Tiisetso Dlamini,

Trevor Mwale and Nico Campher Speaking from Kenya, Henry Botha of the Africa Regional Board updated attendees on the progress of the proposed joint venture evolution with the AICPA

KwaZulu Natal - From left to right: Zahra Cassim, Sandisiwe Shembe, Musa Shabane, Taher Jhavary, Andrew Miskin, Samantha Louis, Sihle Mpungose.

Zambia - Victor Nyasulu, Kennedy Mwila, Muyaka Ethel Ngwira, Phinias Lupaka and Gordian Bowa Attendees at the Ghana Branch AGM

At the AGM front (L - R) CIMA Botswana Country Manager Letus Chinyepi, Head of South Africa, Zahra Cassim, Zaeem

Anwar (Chairman), Peter Kesitilwe and Africa Regional Director, Samantha Louis. Back (L – R); Geoffrey Jjuko,

Letshego Moeng, Tebogo Mathodi, Lorato Kedisitse, Maatla Gaseitsiwe, Tsholofelo Bogosi

cgma.org June / July 11/12cimaglobal.com June / July 10/12

CIMA recently sponsored prizes in the programme for management

accountancy category at the University of North West (NWU)

prize-giving. The following students were recognised in this

category:

o Belinda Huysamen was recognised as the best student over a

threeyearperiodinBComManagementAccountancy.

o Jandre ShutterwasrecognisedastheBestHonoursstudentin

Management Accountancy.

o Eldine van NiekerkwasrecognisedastheBestMastersstudentin

Manangement Accountancy.

The prize-giving event is an annual event at the NWU which

recognises achievement in the Schools of Economics, Human

ResourcesSciences,BusinessManagementandAccountingSciences.

RomonaNaidoo,BusinessDevelopmentManageratCIMAsays“CIMA

participating in events such as the prize-giving, is really an extension

of our business. As the leading professional body for management

accountants it is our role to profile the profession and to ensure that

we celebrate our next generation management accountants.’

The Zambian Accountancy & Business Tuition

College is no longer an accredited CIMA tuition

provider. For an updated list of accredited tuition

providers in Africa visit: http://bit.ly/1V0y0L5 Zambia PER Workshop

Kenya BAT Field Trip

Gauteng Branch Graduation

Lesotho Orientation and exam techniques session

Gauteng Peter Stewart Pass CIMA Case Study

Gauteng Peter Stewart How to improve your exam techniques

Cape Town Peter Stewart How to improve your exam techniques

Cape Town Peter Stewart How to improve your exam techniques

CPT Peter Stewart How to improve your exam techniques

Gauteng PER Workshop

Cameroon CIMA Orientation and Exam Technique Session

NORTH WEST UNIVERSITY Prize-Giving

Alice Burger ACMA, CGMA (NWU), Romona Naidoo (CIMA), Jandre Shutter, Belinda Huysamen and Zahra Cassim (CIMA)

Simba Mudimbu (IQ Business), Doug Withington (Centre of Excellence), Emily Phiri (SAB Miller), Zahra Cassim (CIMA), Alick Burger (NWU), Rona van Hoepen (FAT Training), Trix Kennealy (Retired CFO)

University of North West in Potchefstroom

hosted an employability event during

which CIMA and employers presented their

businesses to honours students who are

ready to enter the job market.

IQ Business, SAB Miller and FAT Training

were the other companies that presented.

EMPLOYABILITY SESSION

DATES TO DIARISE

GIVING THEM THE POWER AND THE CONFIDENCE

EVENT DATE

30 June

01 July

04 July

05 July

06 July

07 July

07 July

14 July

23 July

24 June

24 June

TUITION PROVIDERS In Africa

WELCOME TO NEW FCMAS January 2015 – April 2016

LindaBischof

HenryBotha

MarieBotha

Willemina De Jager

Marlinda De Klerk

Nicolaas Faure

Marna Gamley

Andrie Graham

BrigitteHoltz

Linda Kumbemba

Paraskevi Marques

Jan Meyer

Susanna Middelberg

Rhonwen Mills

Abraham Pienaar

Fiona Smyth

Mikateko Tshetshe

LyndyVan Den Barselaar

Marelize Van Wyk

Erna Veldman

BOTSWANAE1 Organisational ManagementMooketsi TsholofeloE2 Project and Relationship ManagementKamogelo RamabuE3 Strategic ManagementIrfan Patel F1 Financial Reporting and TaxationKennedy Tsheko F2 Advanced Financial ReportingMoabi Motlhajoe F3 Financial Strategy KagoBulayaniP1 Management AccountingThomas Moutswi Russell MothupiP2 Advanced Management AccountingKamogelo RamabuP3 Risk ManagementIrfan Patel GHANAE1 Organisational ManagementFifi NunoE2 Project and Relationship ManagementBernardTabil E3 Strategic ManagementVincent SemavorF1 Financial Reporting and TaxationArthur Moffatt F2 Advanced Financial ReportingMillicent DarkwahF3 Financial Strategy EstherBonsrah

NIGERIAE1 Organisational ManagementOmotayo AdeyemoE2 Project and Relationship ManagementDamilolaBode-Harrison E3 Strategic ManagementEbuka NkemdilimF3 Financial Strategy 2015 SyllabusEbuka NkemdilimP3 Risk ManagementCelestine Okorigba SOUTH AFRICAE1 Organisational Management Louise Ward E2 Project and Relationship ManagementWarren VosE3 Strategic ManagementTendai RubabaAnnelien Smith

F1 Financial Reporting and TaxationGuinevere DentonF2 Advanced Financial ReportingAnneliesDeflooJubberF3 Financial Strategy 2015 SyllabusThembelihle MabasoP1 Management AccountingDenzil MoonusamyP2 Advanced Management AccountingMichelle Tatar P3 Risk ManagementAlison Rijs

ZAMBIAE1 Organisational ManagementJoshua ChiwendaE2 Project and Relationship ManagementSyliviah MunthaliE3 Strategic ManagementMirriam Chilombo Moombe F1 Financial Reporting and TaxationBensonMwileliF2 Advanced Financial ReportingJaphet Mwale F3 Financial Strategy 2015 SyllabusJosephat MzyeceP1 Management AccountingEnock ChilengweP2 Advanced Management AccountingDamian NyonganiEmely Mando P3 Risk ManagementJosephat Mzyece

ZIMBABWEE1 Organisational ManagementKuda MachingaE2 Project and Relationship ManagementTafadzwa GarufuE3 Strategic ManagementTonderai ChemhereF1 Financial Reporting and TaxationNyasha MafenyaF2 Advanced Financial ReportingLeticia MekeF3 Financial Strategy 2015 SyllabusAlbert ChigocheP1 Management AccountingBonganiMusizaP2 Advanced Management AccountingNeo MakwaibaP3 Risk ManagementMunyaradzi Guvamombe

CASE STUDY EXAMS

BOTSWANAManagement Case Study ExamBahlangeniNyirendaFiona Radiphophi Keletso Moswete BontleMfaladiOperational Case Study Exam Melinah Kedimotse Strategic Case Study ExamKeabetswe Oteng

GHANAOperational Case Study ExamAsher Wilson Management Case Study ExamJennifer AmeblehStrategic Case Study ExamAlmoustapha Djika

NIGERIAOperational Case Study ExamDamilolaBode-HarrisonStrategic Case Study Exam Esther Toluwase

SOUTH AFRICAOperational Case Study ExamAmeshree GovenderManagement Case Study ExamMunyaradzi DeraStrategic Case Study Exam RoebertBrent

ZAMBIAOperational Case Study ExamRavi KapadiaManagement Case Study ExamGiddy Mwale Isaac Ng`andu Ravi Kapadia Strategic Case Study ExamIsaac Mutale

ZIMBABWEOperational Case Study ExamBatsiraiGunhaManagement Case Study ExamProsper RuketeStrategic Case Study ExamTivongeshe Dewa

OUTSTANDING AFRICA PERFORMANCEThe following students achieved the highest marks in their respective countries for 2015:(*students will receive or should have received a letter of acknowledgement as well as a certificate to mark their achievements*)

Designbyiheartdesign•M.0836489214E.darshana@iheartdesign.co.za

T. +27 (0) 788 8723/ 0861 CIMA SA | E. johannesburg@cimaglobal.com