Rates shift. Costs up. Mini budget in. Where's the ROI?
Your 2027 budget is being finalised in a difficult year. The day before the Reserve Bank announces its rates decision, spend the morning with 29 other finance leaders working out what it could mean for your 2027 budget.
Every board is asking the same question
Where's the return? On debt carried at prime 10.75%. On cash sitting in debtors for 120 days. On the AI budget. And on a tax function that SARS, with a R6.9 billion boost, is set to examine more closely.
- Debt carried at prime 10.75%, with the Reserve Bank's rates decision due on 19 November
- Fuel levy relief ending on 5 January, with first-quarter costs jumping
- AI budgets growing faster than the returns your board can see
This breakfast gives you a morning to answer it.
This breakfast gives you a room of peers, and a morning, to work through the answers before your 2027 budget is signed off.
Four decisions for your 2027 budget
Capital and cost in 2027: funding at prime 10.75% and the January cost cliff
Refinancing, covenant headroom and capital allocation while the Reserve Bank expects inflation to stay above 5% into early 2027, and planning budgets, pricing, fuel escalation clauses and supplier contracts for the end of fuel levy relief on 5 January 2027.
Presented by Lindi Ndlovu, SageThe mini budget: tax, enforcement and opportunity
The 21 October Medium-Term Budget Policy Statement for corporate finance: the deficit path, debt costs absorbing about a fifth of revenue, SARS's extra R6.9 billion for enforcement, director accountability for tax risk, VAT e-invoicing for large businesses, and the public-private partnership pipeline.
Presented by Ettienne Retief, CIBA CPD PresenterWorking capital under pressure
Freeing up cash tied up in debtors, stock and supplier terms when customers are paying later and borrowing to cover the gap is expensive.
Presented by Clarissa van Biljon, DraftworxThe ROI on AI starts with your people
Most CFOs are increasing AI investment, but only 6% rank AI deployment as their top lever for driving enterprise value. Closing that gap starts with your team: building skills, keeping good people through CIBA's Finance Team membership, and growing your own talent as an ATO.
Presented by Faith Ngwenya, Head of Education, CIBALeave with a plan
The morning at a glance
Wednesday 18 November 2026 · Randpark Golf Club, Randburg, Gauteng
- 08:30–09:00Registration: tea, juice and water
- 09:00–09:05Welcome and openingLeana van der Merwe, MC, CIBA
- 09:05–09:35Capital and cost in 2027: funding at prime 10.75% and the January cost cliff · Opening presentationLindi Ndlovu, Sage
- 09:35–10:10The mini budget: tax, enforcement and opportunityEttienne Retief, CIBA CPD Presenter
- 10:10–10:50Breakfast and networking · 40 minutes
- 10:50–11:20Working capital under pressureClarissa van Biljon, Draftworx
- 11:20–11:50The ROI on AI starts with your peopleFaith Ngwenya, Head of Education, CIBA
- 11:50–12:00Closing remarks and closeLeana van der Merwe, MC, CIBA
Meet the speakers
Every session is practical and built around method, led by practitioners and industry partners.
Built for you
- Chartered Chief Financial Officers (CCFOs)
- CFOs and finance directors
- Senior financial managers who shape the annual budget
- Any CIBA member, with or without a designation
Setperk Rd, Randpark 268, Randburg, 2194, South Africa
Part of a global CFO network
CIBA is a partner association of the International CFO Alliance (ICFOA), a Paris-based network of national CFO associations across Europe, Africa and Latin America.
Frequently asked questions
Is it free?
Yes. The breakfast is free for CIBA members, with or without a designation. The room is limited to 30 finance leaders.
Do I earn CPD?
Yes. Attendance earns 4 CPD units in Practice Management.
When is breakfast served?
Tea, juice and water are served from 08:30. Breakfast is served at 10:10, during the 40-minute break.
What is the dress code?
Semi-formal.
Are the sessions sales presentations?
No. Every session is practical and built around method, led by practitioners and industry partners.
What if I can't attend after registering?
Please let us know as soon as you can so we can offer your seat to a finance leader on the waitlist.
Where do I park?
Parking is available at Randpark Golf Club.
30 finance leaders. One morning before the rates decision.
Free · 30 seats · Wednesday 18 November 2026 · Randpark Golf Club