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Hand in Hand Kenya

In the field with Hand in Hand

In March I had the pleasure to take a field visit with Mona Lockett, Treasurer of Webcor, to see the ACT-sponsored charity Hand in Hand International’s work on the ground in Kenya. Our own ‘sponsored village’ is just in start-up mode and a four-hour journey from Nairobi where I was hosting our conference, so it was great to see similar programmes but much closer to where we were staying. First of all, we met Teresiah in Kiambu town, who has been part of the programme since last year.  Teresiah ran a tailoring business in her rural homestead, but after training identified a

The Impact of Brexit: A Treasurer’s Perspective

The latest in the ACT’s Brexit series was our breakfast briefing, hosted by the Falcon Group on 4 April, which looked at the key issues facing treasurers at this time of great uncertainty. With the situation ever-changing and a no-deal Brexit too likely for comfort, which was highlighted by the keynote speaker, Sanjay Raja, although the threat of this has somewhat dissipated through the passing of the Cooper-Letwin amendment requiring the Government to avoid a no-deal by forcing a long extension to be sought. Raja, UK Economist at Deutsche Bank, opened with the appropriately titled presentation ‘A Long Goodbye’, highlighting

Meeting members in East Africa

A few weeks ago, I was at our annual East Africa Treasury Forum in Nairobi meeting our members and reinforcing the presence of the ACT and the role of the treasury function in the region. After my short welcome giving the audience an overview about the ACT and what we do, and some opening remarks from our very able chair, Sydney Wechuli of the Nairobi Securities Exchange, we had an exciting and informative opening keynote from Standard Chartered’s Africa Strategist, Eva Wanjiku Otieno, who talked about key economic factors worldwide from the changing strategy of the US Federal Reserve to

Tech innovation catch-up tops CFO to-do list in 2019

This article was written by Amanda Iacone from Bloomberg Tax. It appeared first on the Bloomberg Terminal. Innovations like data analytics and automation aren’t reaching corporate finance as quickly as CFOs and controllers would like, prompting them to make a big tech push in 2019. Just 13 percent of controllers and chief financial officers say their teams use robotics process automation. An even smaller group—10 percent—say they have the right skills on their teams to adopt and use emerging technologies, according to a recent joint survey by the Association of International Certified Professional Accountants and Oracle Corp. The Institute of

Future Leaders in Treasury – The importance of resilience

Resilience. What is it? The term resilience means so many different things to different people. Is it a perspective – rationalising what you are up against and working out how big a deal it really is? Is it adaptability – knowing when you can need to step up and when you can take it down a notch? Is it your ability to bounce back – how well do recover from difficulties and how quickly can you carry on? Resilience is not about being able to do huge amounts of things. It is not about taking on the highest pile of

GTR Turkey 2019

Your correspondent likes a busy life. No sooner returned from Dubai than I was off for a debut appearance, speaking for the ACT for the first time at the GTR Turkey event in Istanbul. If you’ve never been, go. A huge complex city and country that is an important trade partner for the UK. In fact the UK is their second largest export market after Germany. As with many other emerging/developing/maturing (take your pick) markets, Turkey’s treasury and finance issues are familiar yet have their own twist. Yes currencies fluctuate but the Turkish Lira fell 65% against the dollar during

Tackling the complexity of KYC

This article was written by Lisa Roitman, regulatory compliance workflow specialist and business strategist in Bloomberg’s Enterprise Data department. Evolving regulation and geopolitical conditions have changed operational dynamics and dramatically increased Know Your Customer (KYC) burdens on market players. Financial Services firms face increased pressure to conduct ongoing KYC, draining treasury operations resources. It’s estimated that treasury teams at multi-national corporations spend upwards of 25-hours-a-week tackling KYC requests, often on repetitive and administrative tasks, according to a NeuGroup study. Increasingly, corporate treasurers highlight KYC as one of their most significant pain points, frustrated by the consumption of time, human capital

Council election 2019 – Voting is now open

In January, I contacted eligible members (Fellows and Associate Members) inviting nominations for election for the three vacancies on Council for the term commencing 1 May 2019. In line with our recent governance review, we said that we encouraged members from diverse backgrounds and at different stages of their treasury career to stand for election and highlighted a number of skills and experience that Council felt would be particularly desirable. These were: Financial expertise, including financial accounting, management accounting, business planning, corporate finance and treasury Risk management – both financial and business risk Education – both learning and assessment Marketing

 

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