The South African Treasurer

Treasury: The Corporate Champion

In association with

It is with great pleasure that I introduce the 2023 issue of The South African Treasurer, which focuses on ‘Treasury – The Corporate Champion’.

The treasury of an organisation has become a significant and formidable champion to address the weaknesses when it comes to corporates’ exposure to the on-going shift in the tides of financial risk factors, policies, economies and political influences. The corporate treasury function has evolved into a fundamental proactive partner of an organisation, embracing and initiating strategic operations.

This role has broadened and evolved such that the treasury function is vital to the overall health and success of the organisation. Treasurers hedge risks and face difficult challenges head on and are able to make objective analyses and select the most effective strategies under high uncertainties.

Treasurers had to learn to step up and take a seat at the main table, being part of the conversation where their perspective and expertise is valued. They no longer toil somewhere at the back of the office as an isolated unit of the business and their role is far more than just cash management and operations but also involves creating value whilst managing risk.

With global interest rates at multiyear highs, cash is king. Cash utilisation became a vital part of the business and should be managed without compromising the risk appetite and tolerance levels within the organisation.

Lastly, the changeover to ZARONIA from JIBAR should not be taken lightly. South Africa’s corporate treasurers need to urgently begin planning for the changeover to a new national benchmark interest rate, as a smooth transition between South Africa’s corporates and banks will be paramount to the country’s financial stability.

One of the core purposes of our Association is to facilitate the exchange of information beneficial to the management of corporate treasury operations, as well as those in allied financial disciplines. We were pleased to continue to provide a platform for the development of the treasury profession in South Africa.

This magazine, published in association with Treasury Management International, forms one of a wide and varied spectrum of events organised by ACTSA on issues pertinent to treasurers, with a primary aim to educate, inform and grow our profession and its profile within our companies.

I would like to thank all our contributors most sincerely. Thank you also to the board members who voluntarily offer their time to spearhead the Association, and to the ACTSA team for their continued contributions in making our organisation both active and relevant.

We hope you enjoy this year’s edition.

Jolandi Marais, ACTSA Chair

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