Manish Shavadia, CFO

Manish Shavadia

CFO

Afya Rekod Ltd/ Africa Blockchain Creatives Ltd/AI Centre of Excellence/ Crypsense Digital Group Ltd

Location
Kenya - Nairobi
Education
Master's degree, Accountancy
Experience
19 years, 0 Months

Share My Profile

Block User


Work Experience

Total years of experience :19 years, 0 Months

CFO at Afya Rekod Ltd/ Africa Blockchain Creatives Ltd/AI Centre of Excellence/ Crypsense Digital Group Ltd
  • Kenya - Nairobi
  • My current job since June 2022

Financial Reporting: To ensure Annual Audits are done on time. Quarterly reporting to Investors.

Financial Modelling: Compute complex models to assist in the VC fund raises for the various businesses. Company valuations from time to time.

Cost Control: To report to Founders on ways of reducing and controlling costs by way of burn rate

Taxation: Dealing with all KRA matters and getting tax compliances done

Payroll: Processing of company payrolls and filing of statutory returns in East Africa region.

Supervision: To train junior accountants across various markets to keep records and maintain budgets and report on variances. Develop financial and non-financial key performance indicators and the appropriate reporting to assess financial and operational performance across the Company.
• Expansion: Responsible for new set ups for the expansion of companies across Africa & Middle East. Support business growth strategies by forecasting and assessing the financial impact of key decision. Build and develop systems, set up highly efficient financial systems that take into account the highly technical payment, cash management, payroll and financial operating systems of a geographically distributed multi-unit operation. These systems need to be highly efficient or automated, data-driven, transparent and appropriate for emerging market conditions.

ERP Implementation: Lead Role in new ERP Next implementation across all markets and companies.

CFO at Adanian Labs Ltd
  • Kenya
  • My current job since May 2022
Chief Accountant at Malachite Limited/Metal Crowns Limited/Tin Can Manufacturers
  • Kenya - Nairobi
  • June 2019 to May 2022


Financial Reporting: To complete the backlog in annual audits for 2017, 2018 & 2019 and working with auditors to finalize. Ensuring data integrity and review of all Balance Sheet accounts for smooth monthly reporting.

Change Management: Introduction of ‘Popote Mobile Wallet’ to the company to ease transaction processing. This reduced the intercompany transactions to a bare minimum. Introduction of brand-new chart of accounts on SAP B1.

System Implementation: Project Manager for 100-day SAP B1 implementation and data migration from Blue Print to Go-Live. Assigning of user rights to ensure internal controls are strengthened to avoid fraud.

Compliance: To ensure company is fully compliant with excise legislation and licensing requirements for all administration, distribution and production facilities. To assist in the company tendering process and obtaining bank guarantees and various other tender securities. Review of all insurance policies and renewal of excise bonds.

Taxation: Dealing with all KRA matters including Investment Deduction Allowances, VAT assessments, VAA Auto Assessments, Excise Duty queries and notices to produce information.
Assistant Accountant (Operations), Finance Assistant, ACCA Qualified, Financial Accountant, Assistant Management
Accountant, Sage, Oracle

Payroll: Processing of company payrolls and filing of statutory returns

Financial Controller at Union Logistics Limited (Kenya/Uganda) & Stansfield Properties Limited
  • Kenya - Nairobi
  • May 2015 to December 2018

Budgeting and Planning: Lead role in preparation of budgets & cash flow forecasting. I have successfully prepared a business plan to procure funding from a local bank for $2.5m for our logistical facility.

Financial Reporting: To report into parent group, the Freight Forwarders Group East & Central Africa.

Credit Control: Lead role in credit control function and establishing relationships with customers. Successfully brought down average debtor days from 120 to 65

Compliance: Preparing financial statements and ensure year end audits are conducted properly until finalization at board level. I successfully rolled over prior ledger year ends on accounting software to tie balances to audited numbers, a procedure which was nonexistent before.
Submission of monthly management accounts pack to board. Continual improvement of reporting templates working in conjunction with group financial analyst team.
I also ensure that the finance function is in line with ISO 9001:2015 quality objectives by carrying out internal audit checks bi-annually to ensure systems and control mechanisms in place are adequate.

Taxation: Proactive instalment tax planning.

Change Management

Contract Negotiation

Financial Controller at Glorious Brands Ltd
  • United Kingdom - London
  • July 2012 to April 2015

Financial Controller for the brands distribution company (Stila Cosmetics, Bentley/Jaguar/Lalique fragrances, Ecoya, T3)

I set up entire structures and systems for the mid sized company

Intercompany accountant at TJX Europe Ltd
  • United Kingdom - London
  • March 2011 to June 2012

Contract Role:

Intercompany accountant within the shared services finance team for a Fortune 500 leading off-price apparel and home fashion retailer with global revenues of $35 billion with over 4000 stores in 9 countries

Financial Accountant Shared Services at Gondola Group Ltd
  • United Kingdom - London
  • November 2004 to January 2011

Financial Accountant for the newly formed shared service centre for the restaurant group comprising of 570 restaurants under the brands Pizza Express, ASK, Zizzi & Byron hamburgers - turnover GBP 900m

Compliance: -Achieved a super user status of the JD Edwards Oracle based software in preparation of group and subsidiary financial reports with onward submission of board pack.

Budgeting & Planning: Worked closely with the group finance manager in formulation of budgets and cash flow forecasts. Also setting up controlled worksheets for the restaurant accounts team which involved intensive data manipulation tools.

Education

Master's degree, Accountancy
  • at Kaplan Business School
  • March 2012

Specialties & Skills

Tax Compliance
Budget Forecast
SAP ERP
Financial System Implementation
Board Reporting
AI and ChatGPT accountants
Lean Six Sigma

Social Profiles

Personal Website
Personal Website

URL removed due to policy violation. Please contact support for further information.

Languages

English
Expert
Swahili
Expert
Gujarati
Native Speaker
Hindi
Intermediate

Memberships

Association of Chartered Certified Accountants
  • Member and now a Fellow of the body
  • March 2007

Training and Certifications

FCCA Certificate (Certificate)
Date Attended:
June 2012

Hobbies

  • Traveling, Reading Business Articles, Playing Racket Sports, Charity Work
    Attended the Annual Members ACCA Convention 2023 in Johannesburg, South Africa.