THE SOUTH AFRICAN TREASURER: OPPORTUNITY IN CRISIS - RETHINKING TREASURY

TMI | THE SOUTHAFRICANTREASURER 1 OPPORTUNITY INCRISIS – RETHINKINGTREASURY Letter from the Chairperson Jolandi Marais, ACTSA Chairperson Rising Risks, Changing Risks –The ChangingWorld of Financial RiskManagement Post-Covid John Cairns, Client Strategist, Rand Merchant Bank HowTechnology Can Boost Your Payments Process Rudolph Janse van Rensburg, Director and CTO,TreasuryONE What It Means To Be a Responsible Business Paul Rackstraw, Managing Director, Futuregrowth VUCAMeets Covid-19 EbenMaré, Head, Absolute Return Investments, ABAMand Associate Professor, University of Pretoria The Impact of Covid-19 on Foreign Currency Risk Management Bulelwa Soyamba, Head of Structured Corporate FX Flow Sales, ABSA Bank Goodbye, Excel - Automating Bank Guarantees at Arup Ben Poole, Columnist,TMI HowToWeather the Perfect Storm Monique DeWaal , Associate Director, Deloitte Flying Highwith Sustainable Finance Ben Poole, Columnist,TMI The Financial Hedging Framework of SAMNCs Lars Stuber,Telecommunications Specialist Why Corporate Finance Teams AreMore Than Bean Counters Simon Reynolds, Head of Finance at GazpromEnergy A 10-Step Plan toTransform Your Treasury Neil Pryce, CEO, FinOwl Escaping theWeb of Mistrust Keith Breckenridge, Professor of History,Wits Institute for Social and Economic Research ACTSA BoardMembers Contents TreasuryManagement InternationalLtd, WaneyEdgeBarn,FoxhillLane,Playhatch, ReadingRG49QF,UK Tel:+44 (0)1189478057 e-mail :tmi@treasury-management.com Internet:www.treasury-management.com EUOffice: TreasuryManagement InternationalKft. 2161Csomád,Verebeshegyu.11.,Hungary Editor EleanorHill DeputyEditor TomAlford CommissioningEditor &OperationsManager CarolineKarwowska CopyEditor ElizabethHennessy Accounts KarenRoberts CEO&Publisher RobinPage AssociatePublisher SamClarke Design&Production GlenOrford DigitalDesign AlexTierney DigitalContent Executive WillHollands ©2020P4PublishingLtd ISSNNo:0967-523X TMITREASURYMANAGEMENT INTERNATIONAL ISSN 0967-523X ispublishedeighttimesayearbyP4Publishing Ltd,WaneyEdgeBarn,FoxhillLane,Playhatch,ReadingRG4 9QF,UK.The2020USannualsubscriptionprice is$400.00. Airfreightandmailing intheUSAbyagentnamedWN Shipp ingUSA,156-15,146thAvenue,2ndFloor,Jamaica,NY 11434,USA.PeriodicalspostagepaidatJamaicaNY11431. USPostmaster:Sendaddresschangesto TMI-TREASURY MANAGEMENT INTERNATIONAL,WNShippingUSA, 156-15,146thAvenue,2ndFloor,Jamaica,NY11434,USA SubscriptionrecordsaremaintainedatWaneyEdgeBarn, FoxhillLane,Playhatch,ReadingRG49QF,UK.AirBusiness Ltd isactingasourmailingagent. Whileallreasonablecare hasbeentakentoensuretheaccuracyofthepublication, thepublisherscannotacceptresponsibilityforanyerrors oromissions. OPPORTUNITY IN CRISIS – RETHINKING TREASURY 2 3 7 10 14 TMI would like to thank Artemis Galatis, General Manger of ACTSA, for all her help and assistance in putting together this publication. For more information, please contact: Artemis Galatis, General Manager, Association of CorporateTreasurers of Southern Africa (ACTSA), POBox 5853, Cresta 2118, South Africa. Tel. + 27 11 482 1512, Fax. +27 11 482 1996 . agalatis@actsa.org.za . www.actsa.org.za . Jolandi Marais Rand Refinery Chairperson Alison Beck KPMG Inc Caroline Henry Independent Consultant Basia Lebata BASF Holdings (Pty) Ltd DrVincent Makhuvha Eskom SerenaMcGinn Sappi South Africa Ltd RiazMuradmia KPMG Inc JacquesMol Independent WillemReitsma Imperial Logistics Trevor Starke AECI Ltd Mark Schwartz TheTreasury Counsel 17 21 24 29 32 39 42 46