A Letter from the Chairman
by Nigel Grey, ACTSA Chairman
I am delighted to introduce the 2013 edition of The South African Treasurer – `Challenges in Treasury – an Outlook on Africa’, published in association with Treasury Management International. The magazine forms one of the mediums that ACTSA uses to keep its members informed of developments affecting the treasury profession, and this year we have a number of interesting and informative articles from local professionals dealing with challenges and risks facing the industry.
Over the past year the Board’s education committee has continued work on developing an educational offering in conjunction with a local university with first running of the courses scheduled for 2014.
Last year presented some challenging economic conditions; however, it was a year where treasurers were able to show how valuable they are to their organisations. With this in mind we have pursued our focus on our primary objectives of creating appropriate education and networking opportunities for members and increasing awareness of the role the Association plays in assisting its members to be in a position to meet the challenges they face in the workplace.
This issue is full of topics relevant to the current times we live in. The theme of the 2013 Edition focuses on the enormous growth of investment on the African continent. This increased corporate activity has opened up a whole new set of issues which require the focus of the treasurer. The following articles provide some insight into what treasurers need to consider and be cognisant of when dealing with treasury operations in Africa:
- Corporate Risk Management: Challenges in Sub-Saharan Africa
- Currency Risk Management in Africa
- Banking Partner - Key to Managing Risks of Expansion into Africa
- Achieving Business Control and Transparency
Regrettably, we are still experiencing the aftermath of the 2008 financial crisis with increased regulation and a different view of risk and the adoption of different technologies in managing treasury operations on a daily basis. The following articles focus on a number of these challenges:
- Challenges Facing the South African Derivatives Market
- Are Your Counterparties Putting Your Business at Risk?
- Benefits of Standardised Loan Documentation for Corporate Borrowers
- How Corporate Treasurers Can Cope with the Issues of Collateral
- Transformation in Treasury. The move to the cloud – what does it mean and what should you consider?
- Trading Dynamics of Emerging FX Markets
- The Importance of US Real Yields for Relative Equity Performance
The scene is set by a Currency Risk and Risk Management survey.
I wish you both pleasant and informative reading of this issue.
Nigel Grey, ACTSA Chairman