CFO
Alexander Forbes
Total years of experience :20 years, 8 Months
Alexander Forbes:
1. Promoted from Accountant to Financial Director at Lumley Namibia in 1993.
2. Involved in settling the acquisition of Agra Insurance Brokers into a newly created entity called Lumley Agra Farmers Insurance Brokers in 1996/7. Responsible for setting up the company with all related accounting responsibilities and controls and producing monthly management accounts.
3. Lumley Namibia was then acquired by Price Forbes - the two Accounting Departments merged and I was responsible for converting the insurance broking transactions onto the Price Forbes platform and to change all accounting reporting according to the Price Forbes accounting standards.
4. Price Forbes (Risk Services) and Alexander Forbes (Financial Services) then started trading under the same brand “Alexander Forbes” and it was decided that the accounting function of Alexander Forbes Financial Services would be centralised and executed in Windhoek (prior done in Johannesburg). The entire accounting function of Alexander Forbes Financial Services with effect became part of my responsibility too. In addition Alexander Forbes Financial Services acquired UPA of Namibia - also a pension fund administration manager.
5. Alexander Forbes Group then started with the Guardrisk Insurance Company of Namibia (also ART Insurer) in Namibia and I was again involved in setting the company up and implementing the accounting function. I believe that I fully understand the concept of cell captives or alternative risk transfer insurance.
6. Eventually all Alexander Forbes Divisions were incorporated under a holding company - called Alexander Forbes Namibia Investments (AFNI) and I was promoted to Group Financial Director.
7. Shortly thereafter AFNI holding company entered into BEE transaction with Cherish Investments - in the main the prominent Namibian businessmen Sidney Martin and Frank Fredericks were involved and again I played a big part in structuring and finalising the Namibian BEE transaction on behalf of Alexander Forbes Group in Namibia.
8. I was thus the Group Financial Director on the Holding company’s Board of Directors of Alexander Forbes Namibia Investments and a such involved in
• Strategic decisions and future planning of the AF Group
• Strategic financial management
• Responsible for the entire accounting and reporting function of the AF Group in Namibia including monthly and quarterly income statements, balance sheets, cash flow statements and variance reports to shareholders, CEO and the Board of Directors
• Overseeing the operational aspects of all the Accounting Departments within the AF Group and meeting reporting deadlines
• Co-ordinating and presentation of annual budgets and revision of quarterly forecasts to Board and Shareholders in RSA
• Co-ordinating and preparation of the annual Group audit function
• Involved with the IT function of the AF Group
• Being the company secretary of the Group and all related companies being part thereof and responsible for all company secretarial and statutory returns and its submissions.
• Preparation of board packs for quarterly Board meetings