IN THE NEWS City pupils top six finalists in CFO competition
A TEAM of pupils from St Patrick’s College in Kimberley has been announced as one of the top six finalists who will compete at the CFO Junior finals in South Africa.
The local team consists of Grade 11 pupils William Villet, Lehlohonolo Lithakong and Thevanesan Thomas. The CFO (chief financial officer) is an annual, open-entry and global multi-stage business strategy and leadership-focused case study competition, organised by the CharterQuest Institute South Africa.
It challenges university students around the world to prove they can compete at the highest level by solving a set of complex and integrated finance, operational, strategic and ethical problems that beset a realworld global business in the emerging markets.
The cadet version, the CFO Junior, is open for all high schools in Africa and runs side-by-side with the university challenge.
The event brings together students, entry-level professionals, high schools, universities, professional bodies, policy makers and big business for one purpose, namely to inspire the next generation of CFOs and global business leaders.
The competition is endorsed by the Association of Chartered Certified Accountants (ACCA), CFO South Africa as well as the Association of Corporate Treasurers (UK).
The 2018 global semi-finals will be held at the Johannesburg Stock Exchange (JSE) on October 2, 2018 and the global grand finale on October 3 as part of Finance Indaba Africa Expo at Sandton Convention Center.
The CFO and The CFO Junior entail an in-depth analysis of a (multinational) business facing a set of
‘real world’ (strategic) business management issues that need to be addressed. It is structured over four stages.
During stage one, which is over a 60-day period, the teams analyse the case study to produce and submit a board report. A panel of examiners then announce a shortlist of the top 20 teams who are then invited to submit a 10-minute video (and PowerpPoint presentation slides) from which the top six are announced. In addition to their 10-minute video, the teams must submit a one-minute (60 seconds) two-part video, introducing their team, why they entered as well as the lessons learnt; and in the second video, setting out their hopes and dreams, including how the competition can assist their future career. In stage two, the videos of the top six teams go live on broadcast and social media over a 30- to 60-day period, for the public to have their say by voting for the best video. The top three winners get 5%, 3% and 1% average weighted score to their credit.
Stage three is the semi-finals, during which the top six teams arrive in Johannesburg to deliver their 10-minute presentation to, and take questions for a further 15 minutes from a mock board, comprised of an international panel of judges, who will select the top three teams to compete in the finals.
During the finals (stage four), an extended version of the case study is analysed over three hours, followed by a further presentation to the board (and audience) for 10 minutes. The judges will question each team for a further 15 minutes on their analysis and recommended strategies and announce the ultimate winner.