The South African Treasurer: Revolutionising Treasury – What’s the Game Plan?

It is with great pleasure that I introduce the 2024 issue of The South African Treasurer, which focuses on ‘Revolutionising Treasury – What’s the Game Plan?’.

The role of the treasurer is vital to the overall success of an organisation and with the rise of technology and AI we are seeing a significant transformation. Treasurers no longer toil in the back offices as an isolated unit but take a main seat at the table collaborating with the CFO to create value.

As technology continues to advance, treasury teams are reimagining their roles, tool and strategies to embrace new technology to make more informed real- time decisions. AI's ability to analyse vast amounts of data and uncover patterns can lead to more accurate forecasting, better risk management, and more efficient cash flow optimisation.

Companies need to get on board by fostering a close alignment between technology and the treasury team, because executives are going to be asking more from their treasurers and the ability to create real-time cash flow forecasting is a game changer.

The importance of understanding the countries’ (and global) political and economic challenges and the risks that comes with them is a prerequisite for a resilient treasurer. To navigate the uncertain environment and low economic growth outlook, cost optimisation, better cash flow management and digitalisation are top strategic priorities over the next
12 months.

Furthermore, as businesses increasingly recognise the importance of ESG (Environmental, Social and Governance) and DEI (Diversity, Equity and Inclusion) policies in their operations to maximise opportunities and minimise risk, treasuries are having to align their strategies with sustainable and socially responsible practices and therefore this must be a key component of the treasurer’s role.

Just as the global financial markets practise moving towards risk-free rates as an alternative to interbank offer rates, the South African Reserve Bank is on a journey to transition into such reference rates, which are currently a significant number at the core of many financial contracts being utilised to measure the performance of financial activities.

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