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The financial profession is undergoing a seismic shift. The age-old notions of bookkeeping and audit trails have given way to a dynamic era where finance leaders are pivotal in shaping strategy, driving innovation, and leading organisations into the future. During a conversation hosted by CEO East Africa Magazine, Charlotte Kukunda, Country Manager of ACCA Uganda, and Joseph Ssekabira, Associate Director at Deloitte Uganda, shed light on the evolving landscape of finance leadership. The Expanding Role of CFOs Traditionally seen as guardians of numbers, Chief Financial Officers (CFOs) now serve as strategic advisors and organisational architects. Joseph Ssekabira emphasised that today’s…
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The evolving role of the CFO to Chief Value Officer has taken centre stage in recent years with organisations and CFOs themselves demanding to take more and curving out more action in the running and transforming of their organisations. Alongside that conversation has been the rise as well as, of the need for CFOs with an entrepreneurial mindset⏤ a way of thinking that emphasizes innovation, creativity and taking calculated risks⏤ instead of the traditional mindset that is more preoccupied with financial management and risk mitigation. Entrepreneurial CFOs are willing to challenge the status quo, and are open to continuous learning…
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The role of the CFO is fast-evolving to that of a Chief Value Officer (CVO). What unique challenges and opportunities does this present in the context of a central bank? The CFO role in a central Bank is a very diverse one. It goes beyond being an ordinary CFO. The team you lead is also very diverse and half of the team are not actually finance professionals. For instance, the CFO heads the Agricultural Credit Facility (ACF) and other schemes which have nothing to do with accounting and the staff are agricultural financing specialists. You also lead the National Payments…
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Indeed, traditional ways of working are fast fading and being replaced by new technological advancements backed up by Artificial Intelligence. The question as to whether Accountants and Finance professionals will still remain relevant in these times still lingers on. In my LinkedIn article “The changing role of the Accountant” (November 2019), https://www.linkedin.com/pulse/changing-role-accountant-josephine-magoba-makuyi-fcca-cpa-u- I highlighted the trend of the Accountant’s role drifting away from the traditional (back-kitchen methods) to a more pro-active role in the organisation’s core functionality. This definitely calls for being more adaptable, and agile and embracing technology to deliver over and beyond the standard; more efficiently and effectively….
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