Established in 1903, Rand Water is the largest bulk water utility company in Africa and one of the largest globally, providing drinking water on a wholesale basis to more than 11 million people in Gauteng, parts of Mpumalanga, the Free State and North West of South Africa, an area that stretches 18,000 km². The company is owned 100% by the South African state, and has a market share of more than 95%.
Rand Water has a well-established centralised treasury function, but the company's treasury requirements have changed considerably over recent years. Consequently, in 2012, treasury embarked on a rigorous process to evaluate, select and implement a treasury management system (TMS). In this article, Lucky Ncobela, Group Treasurer, describes some of Rand Water's experiences.
Lucky NcobelaGroup Treasurer