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Servaas Hofmeyr, Financial Manager

Servaas Hofmeyr

Financial Manager·Matola Cargo Terminal

South Africa

Master's degree, MBA

Work experience

Total years of experience: 24 years, 1 months

Financial Manager

April 2023 - October 2023

Matola Cargo Terminal

Maputo, Mozambique

April 2023 - October 2023

 Lead the preparation of the financial reports of the company, ensuring the availability of information supporting the decision-making process in all areas.
 Prepare financial and treasury reports, forecasts and deviations to budget on a monthly basis and submit to the Group and the Board of Directors accurate, complete, valid and timeous results.
 Liaising with operational managers to identify revenue drivers and finalise monthly forecasting.
 Prepare and monitor 5 year budget and business plan - this include, Sales Opex and Capex budgets with revenue drivers and staff count.
 Manage and optimise the working capital requirements to maximise shareholder wealth.
 Creating procedures to ensure good internal control and high standard of internal governance.
 Responsible for the day-to-day accounting, ensuring accounts are up to date and correct and expenses and revenues are correctly accounted for.
 Responsible for account reconciliations and clean-up of all accounts.
 Formed part of the team that facilitated the migration from Sage evolution to Sage X3
Achievements
 Prepared the 5 year budget for all business units, this include Capex, Sales and Opex budgets as well as revenue drivers
Company industry:
Warehousing
Job role:
Accounting and Auditing

Accounts Manager

June 2021 - March 2023

Thinamy Entertainment

Dar es Salaam, Tanzania

June 2021 - March 2023

Thinamy Entertainment is a group of companies consisting of 2 casino’s, 2 restaurants and an online betting company with revenues of ZAR 500 million and a workforce of over 1000 employees.

 Developed and prepared monthly management accounts and exco board reports for all business units.
 Liaising with operational managers to clarify and interpret financial results, identifying areas to increase revenue or reduce cost saving.
 Preparing annual budgets for all business divisions.
 Responsible for the day-to-day accounting of all business units, ensuring accounts are up to date and correct and expenses and revenues are correctly accounted for.
 Managing the year end audit and resolving all audit queries.
 Ensure all taxes are paid and up to date.
 Ensure proper allocation/ utilization of resources by evaluating workflow and task allocation within the finance department.
 Led process re-engineering and transformation project to improve internal controls and compilation of management information, this includes the migration from Tally ERP to Sage 300.


Achievements
 100% improvement in efficiency within the financial department through the transformation and digitation of financial processes.
Company industry:
Entertainment
Job role:
Accounting and Auditing

Head of Finance

February 2020 - October 2020

De Wet Engineering

Gaborone, Botswana

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February 2020 - October 2020

De Wet Engineering and De Wet Drilling support the mining industry in Botswana with revenues of ZAR 150 million and a workforce of 250 employees.

 Engaged as CFO responsible for the overall financial and management accounting across 4 companies operating in manufacturing, borehole drilling projects, and agriculture.
 Set KPIs and targets to ensure timely and accurate management reporting.
 Facilitated leadership with informed business decision-making by creating monthly management accounts, forecasts, and dashboards along with commentary and recommendations
 Managed the warehouse, procurement, costing of works orders, and payroll functions by leading 15 direct reports.
 Initiated negotiations with local banks to restructure company debt, achieved a reduction in monthly repayments of ZAR 1.5 million per month.
 Ensured adequate working capital availability to avoid disruptions of operations through weekly cash flow analysis, planning, and projections.
 Led major intercompany cost rationalisation program to protect profitability.
 Played a vital role in improving reporting/decision support, driving cost savings, and enhancing internal controls by supporting system migration from SAP to Sage X3.

Achievements:
 Analysis and reconciliation of accounts lead to a tax saving of ZAR 5 million.
 Formulated and implemented a cost rationalisation strategy, resulted in reducing a ZAR 30 million loss to ZAR 1.5 million within 12 months.
 Restructured and enhanced the finance function to meet the needs of the business.
Company industry:
Electrical Engineering
Job role:
Engineering

Head Of Finance

November 2016 - October 2019

Bananalandia Ltd

Mozambique

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November 2016 - October 2019

Bananalandia is an agricultural company specialising in the production of bananas with revenues of ZAR 250 million and a staff complement of over 1500 employees.


 Led a team of 6 members (comprising of 2 accountants, creditors clerk, debtors’ clerk, petty cash clerk and import payments clerk) to oversee finance function for the Mozambique operations, consisting of 7 agricultural production units structured in 4 companies, a transportation company, and a retail company.
 Created monthly management accounts, including KPI’s, forecasts with commentary for individual and group companies.
 Determined sale price per unit by developing a pricing model based on forecasted crop yields and sales trends.
 Provided the financial planning and analysis (FP&A) and financial modelling to ensure that business strategy was supported by sound financial and operational justification.
 Manged the budget process for revenues and costs while identifying cost savings opportunities in close collaboration with operational managers of the production units.
 Ensured prompt resolution of tax queries while managing tax audits in liaison with local consultants and tax authorities.
 Registering an offshore trading company in the Seychelles.


Achievements:
 Enabling proactive profit and tax planning through the development of a profit forecasting model for group companies.
 Created and implemented a pricing model which led to stable selling prices across all companies.
 Developed reporting capabilities to underpin informed business decisions.
Company industry:
Agriculture & Crop Production
Job role:
Accounting and Auditing

Finance Contractor

December 2015 - June 2016

Capespan South Africa

Cape Town, South Africa

December 2015 - June 2016

◆ Handling the company’s registration as an approved exporter in terms of the European Free Trade Agreement.
◆ Assisting the finance team with the finalization of the year end audit and various financials tasks.
Company industry:
Shipping
Job role:
Accounting and Auditing

Finance and Operations Manager

May 2013 - October 2015

Freddy Hirsch West Africa

Lagos, Nigeria

May 2013 - October 2015

◆ Established the footprint and initiating operations in West Africa i.e. Nigeria and Ghana.
◆ Opened bank accounts, executed expatriate quotas, acquired business license, tax registrations while registering products with the relevant local authorities and obtaining import permits.
◆ Supported strategic investment decisions by managing annual capital expenditure and operational budgets/forecasts.
◆ Preparing quarterly cash flow projections, managing, and monitoring cash flows to ensure liquidity to fund capital projects and working capital requirements.
◆ Responsible for sales and product strategy, identification of products suitable to the market and calculating - determine and negotiating selling prices with potential customers, this involved the preparation of sales quotations and customer negotiations.
◆ Led end-to-end implementation of an integrated manufacturing system that included the execution of the bill of materials, activity-based costing, standard costing, and work orders.
◆ Managed the supply chain functions (including ordering, imports, receiving, and costing of imported stock) in liaison with freight forwarders and clearing agents.
◆ Ascertained optimum stock levels, stock availability, as well as the identification of slow-moving stock items by monitoring and controlling stock management processes.
◆ Responsible for tax compliance, this included the identification and hiring of a tax consultant and local auditors.
Company industry:
Manufacturing
Job role:
Management

Finance Manager

April 2012 - October 2012

RCS – Radio and Satellite Communication (Kenya & South Sudan)

Kenya

April 2012 - October 2012

Company industry:
Telecommunications
Job role:
Accounting and Auditing

Finance Manager

March 2001 - December 2010

Freddy Hirsch Group (Pty) Ltd

South Africa

March 2001 - December 2010

Company industry:
Manufacturing
Job role:
Accounting and Auditing

Accountant

August 2000 - December 2000

Old Mutual Life Assurance Company (South Africa) PTY

South Africa

August 2000 - December 2000

Company industry:
Financial Services
Job role:
Accounting and Auditing

Management Accountant

February 1999 - May 2000

Intermedia Film Equities Ltd

United Kingdom

February 1999 - May 2000

Company industry:
Entertainment
Job role:
Accounting and Auditing

Accountant

July 1998 - January 1999

Royal Horticultural Society

United Kingdom

July 1998 - January 1999

Company industry:
Other Business Support Services
Job role:
Accounting and Auditing

Accountant

September 1997 - April 1998

South African Fruit & Vegetable Canners Association (Pty) Ltd

South Africa

September 1997 - April 1998

Company industry:
Other Business Support Services
Job role:
Accounting and Auditing

Accountant

April 1996 - August 1997

Vredendal Motor Group

South Africa

April 1996 - August 1997

Company industry:
Other Business Support Services
Job role:
Accounting and Auditing

Education

University of Stellenbocsh

December 2011

December 2011

Master's degree, MBA

South Africa

CIMA

January 2001

January 2001

Bachelor's degree, CIMA

United Kingdom

University of Stellenbocsh

December 1994

December 1994

Bachelor's degree, Bachelor of Commerce (Management Accounting)

South Africa

Skills

CIMA

Expert

MBA Finance

Expert

Cash Flow Management

Expert

Variance Analysis

Expert

Financial Reporting

Expert

Problemsolving

Expert

Change management

Expert

Variance Ananalysis

Expert

Forecasting

Expert

Budgets

Expert

Cash Flow management

Expert

Cost Ananalysis

Expert

Consolidated Reporting

Expert

External Audit

Expert

Business Strategy

Expert

Management Accounts

Expert

Bill Of Materials

Expert

Staff Management

Expert

Wharehousing Systems

Expert

ERP Systems

Expert

KPI's

Expert

Working Capital Management

Expert

Activity Based Costing

Expert

Manufacturing Systems

Expert

Standard Costing

Expert

Accounting

Expert

Finance

Expert

Financial Reporting

Expert

Auditing

Expert

Continuous Improvement

Expert

PowerBI

Expert

PowerPivot

Expert

Team Leadership

Expert

Coaching

Expert

System Transformation

Expert

Risk Management

Expert

Budgeting

Expert

Internal Reporting

Expert

Managerial Experience

Expert

Cash Flow Management

Expert

Languages

English

Expert

Afrikaans

Expert

Memberships

Chartered Institute of Management Accountants (CIMA)

GCMA

December 2001