Walter Mutswari
Registered Chartered Accountant
Johannesburg,Gauteng
Summary
A proven leader in finance and strategic planning, I have driven significant tax savings and cost reductions at Delta Property Fund Limited. With expertise in IFRS and financial reporting, and a knack for coaching, my analytical approach has consistently delivered results beyond expectations, showcasing my business leadership and problem-solving skills.
I am currently Head of Group Finance at Delta Property Fund Limited (JSE listed REIT). Prior to this role, I was a financial reporting manager at Redefine Properties Limited. In both these REITs, I gained extensive knowledge in the treasury, compliance, corporate finance and financial reporting space.
Overview
9
9
years of professional experience
1
1
year of post-secondary education
Work History
Head of Group Finance
Delta Property Fund Limited
08.2023 - Current
- Saved the Company R25 million in income taxes through review of prior years tax returns and identified saving opportunities.
- Drives the process and preparation of the consolidated and separate financial statements in terms of IFRS, JSE Listings Requirements, the Companies Act and SA REITS Best Practice.
- Chairman of the Management Committee - through this role, I assists EXCO with the execution of the Company strategy.
- Oversee treasury aspects of the fund from daily cash management, cash sourcing, payments, savings, relationship with banks and forecasting daily, weekly and yearly cash.
- Oversee management of the debt funding from calculating debt covenants ratios, reporting on solvency and liquidity ratios to the Board and Banks.
- IT Coordinator - I oversee all IT related matters including drafting IT policies, identifying IT gaps and reporting to Steering and Risk Committees on IT matters.
- Oversee and manage the finance department including performing review of the Team's work, review of taxes including CIPC and SARS compliances.
- Preparing reports for board and attending Audit Committee, Risk Committee, IT Steering Committee, EXCO and MANCO meetings.
- Spearheaded successful negotiations with vendors, securing favorable cleaning contracts that resulted in R3m cost savings without sacrificing quality.
- Performed property analysis to identify properties which are core and those that are not core and advised that they should be disposed.
- Reviewed valuation reports and challenged the valuers on the assumptions which improved the results.
Financial Reporting Manager
Redefine Properties Limited
05.2021 - 07.2023
- Review the consolidation of all foreign investments and subsidiaries.
- Preparation of the group cashflow statement and monthly variance analysis
- Prepare liquidity and solvency test for Board.
- Assist with the preparation of the monthly reporting to Manco and Exco
- Build a monthly management accounts model for the statement of the financial position and cashflow.
- Review subsidiary financial statements and manage the conversion into XBRL/FAS format.
- Assist with technical accounting matters, review legal agreements, draft technical accounting memos, and ensure correct application of the technical memo.
- Assess new and amended IFRS standards and interpretations, train finance team on new and amended IFRS standards and interpretations and ensure correct adoption of new and amended IFRS standards and interpretations.
- Liaise with the external and internal auditors, operational and corporate finance, legal, ESG, company secretarial and marketing teams.
- Review the group consolidation and reporting.
- Calculate the SA REIT ratios.
- Prepare future cash flow projections including interest forecasts.
- Forecasting the balance sheet position
- Preparing consolidated financial statements for group (interim and final) and subsidiaries
- Prepare and manage the investor presentation slides
Audit Manager
KPMG South Africa, Financial Services
09.2019 - 04.2021
- I audited property companies such as Redefine Properties Limited, Hyprop Limited, Transcend Residential Property Fund, IHS among other financial services clients.
- I oversaw the de-listing of Investec Asset Management function of the Bank into a dual-listing of Ninety One Asset Management.
- Responsible for planning the audit engagement of the group and subsidiary companies and the setting up the audit programs.
- Responsible for executing audit procedures over key audit areas including impairment assessment, equity accounting, and investments valuations and providing guidance on technical matters.
- Responsible for the consolidation of subsidiary companies including foreign controlled entities.
- Responsible for coaching and providing on the job training to engagement team members.
- Liaising with other KPMG departments involved within the engagement (Financial Engineering Group, Tax, Information Risk Management Services, and Corporate finance specialist).
- Responsible for the evaluation of the Annual Financial Statements.
- Reporting to management on significant internal control findings and material audit misstatements.
Sales Director (Branch Manager)
TECEX (A Division of VATIT)
01.2019 - 08.2019
- Boosted revenue opportunities by initiating strategic sales strategies based on industry trend and competitive analysis.
- Responsible for the management of the United States Branch.
- Meeting and signing new clients.
- Stakeholder management of existing client.
- Resolving complex client queries.
- Responsible for assisting the company achieve revenue targets.
Article Clerk
KPMG South Africa, Financial Services
01.2016 - 12.2018
- Responsible for the planning for more than 5 group companies and
the setting up of audit programs. - Responsible for the audit of the critical audit objectives including all
impairment assessment, equity accounting, investments valuations,
consolidated cash flows and providing guidance on all other
technical issues. - Responsible for the consolidation of more than 5 group companies
including foreign controlled entities. - Responsible for coaching and on the job training of junior
engagement team members. - Responsible for the evaluation of the Consolidated Annual Financial
Statements. - Reporting to management on material weaknesses of internal
control. - Project management and budgeting of the audit engagement as well
as audit reporting requirements. - Responsible for critical audit objective such as debtor's
recoverability, testing BDA reports from the JSE, completion of audit,
provisions and going concern.
Education
Bcom Honors in Accounting -
University of Johannesburg
Johannesburg 01.2015 - 12.2015
Skills
Taxation
undefinedTimeline
Head of Group Finance
Delta Property Fund Limited
08.2023 - Current
Financial Reporting Manager
Redefine Properties Limited
05.2021 - 07.2023
Audit Manager
KPMG South Africa, Financial Services
09.2019 - 04.2021
Sales Director (Branch Manager)
TECEX (A Division of VATIT)
01.2019 - 08.2019
Article Clerk
KPMG South Africa, Financial Services
01.2016 - 12.2018
Bcom Honors in Accounting -
University of Johannesburg
01.2015 - 12.2015
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