Executive Head: Group Treasury

Vodacom; Johannesburg; On-site; ZAR 1,200,000 - 1,600,000; Full time

Job summary

Vodacom in Midrand seeks an experienced Treasury Leader to oversee operations, cash pooling, and liquidity management across South Africa and African entities. You will drive FX risk strategies and ensure policy alignment with group standards.

The role requires a senior professional with a track record in treasury management, leadership, and strategic advisory to executives. This position is based at Vodacom Campus, with a focus on robust governance and stakeholder engagement.

Qualifications

• Bachelor's degree in finance or related field; master's preferred.
• 10+ years in treasury/financial services with 3+ years in a supervisory role.
• Ability to provide guidance to a team of senior specialists and lead initiatives.

Responsibilities

• Oversee Treasury Operations, including centralised cash pooling in SA.
• Review cash flow forecasts and liquidity across SA and African entities.
• Develop strategies for managing FX risk and oversee treasury policies.
• Prepare robust board papers and IFRS16 discount rate determinations.

Skills

Treasury strategy

Leadership

Stakeholder management

Financial risk management

Analytical thinking

Communication skills

Negotiation

Education

Bachelor's degree in finance or related

Master's degree an advantage

Tools

Treasury Management System

Job description

When it comes to putting people first, we're number 1. The number 1 Top Employer in South Africa. Certified by the Top Employer Institute 2026.

Role Purpose/Business Unit:

• Oversee the Treasury Operations function including centralised cash pooling in South Africa, in line with group treasury policy, i.e. iro security, liquidity and yield
• Review cash flow forecasts and monitor on-going liquidity requirements across main SA entities and African entities
• Effectively support external bi-annual dividend distributions, bi-annual tax payments and other major payments throughout the year by ensuring sufficient cash collected via the centralised treasury function

Your responsibilities will include:

• Build and maintain ethical and sound relationships with banks and other lenders
• Devise strategies for proactively managing foreign currency risk across the various operating jurisdictions
• Manage and supervise the implementation of the Treasury Management System
• Drive reduction in and maintain efficient consolidated cash management operations
• Carry out thorough analysis and prepare robust group board papers on for Board approvals
• Responsible for determining IFRS16 discount rates for African markets and liaising with auditors on how the rates were arrived at
• Ensure that group capital structure is aligned with both business strategy and financial policy, both medium and long term
• Monitor and manage various borrower's covenants ratios with various stakeholders
• Provide information requirements needed to maintain good investor relationships
• Fully understand the Companies Act, as amended, Section 45 for related and inter-related financial assistance and prepare robust board papers for regular and ad hoc financial assistance
• Undertake benchmarking exercises to ensure arms-length pricing for internal and external funding
• Analyse and interpret all financial risks, adhere to policies and employ measures to mitigate these, paying particular attention to:
  • Interest rate risk
  • Foreign exchange risk (transactional hedging and dividend inflow hedging)
  • Counterparty risk (e.g. bank risk assessments) for operational cash and M-Pesa customer funds
  • Carry out an annual review of treasury's Delegation of Authority ("DOA") and group treasury policy and African treasury policies (i) to ensure full alignment with Vodafone group policy and (ii) to strengthen or reformulate the policy if necessary (based on operational feedback)
  • Present proposed policy changes to the board
  • Ensure divisional policies and procedures, systems and controls are updated and aligned with group treasury policy at all times
  • Ensure that all treasury transactions are accurately recorded
  • Attend monthly Finance Exco meetings and present on treasury matters and projects on an ad hoc basis
  • Attend monthly M-Pesa Risk and Compliance meetings and M-Pesa Risk and Compliance board meetings on an ad hoc basis
  • Provide regular training to African markets on group treasury policy
  • Understand the SARB regulations on cross-border transactions, foreign direct investments and foreign exchange hedging to provide treasury advice on operational projects
  • Review and approve the issuance of bank guarantees
  • Liaise with (i) CFO, ME Legal Affairs, ME Tax on major funding issues (ii) CEO and Op Co MD's on critical projects (iii) Vodafone Group Treasury and (iv) relevant external stakeholders, as required

The ideal candidate for this role will have:

• Relevant B. Degree (master an advantage)
• Broad business experience with a minimum of 10 years in a treasury environment / financial services role, 3 years of which should have been in a supervisory role with people management experience.
• Required to provide professional guidance to, and manage a team of senior specialists / specialists. Leadership needs to be persuasive, ethical and in line with financial strategy

Technical / Professional Expertise

• Previous operational and management treasury management experience
• Previous experience with treasury management systems
• Knowledge of company law – legal agreements, loans, bank facilities, share purchase agreements, etc
• Knowledge of financial regulatory environment and exchange control
• Ability to interpret accounting policies, financial statements
• Knowledge of tax (local and cross border)
• Knowledge of governance and compliance procedures
• Understanding of derivatives

Competency / Performance Drivers

• Problem solving and decision making skills
• Resilience and ability to balance changing priorities and anticipate changing conditions
• Strong written and verbal communication skills
• Interpersonal skills, team player
• Decision and results-driven
• Ability to manage conflict

The role requires:

• A key expert with in-depth knowledge of Treasury Operations management able to support financial directors / executives in all group companies on treasury matters
• Comprehensive knowledge of how Treasury Operations arrangements contribute to strategic decision making and operational performance across group operating companies
• Responsibility for professional direction within a key expertise area
• Good analytical skills, analysing information and prioritising decisions based on complex dynamic material
• Ability to influence decisions through advice that have sizeable impact on the availability and management of funding
• Must be able to challenge the advice of bankers pitching trade ideas, funding solutions investment products or derivative hedging solutions
• Provide technical treasury advice to internal customers such as treasury and/or finance managers of operating companies on issues such as what the subsidiaries should do with any surplus cash, funding requirements or new systems and processes
• Requires strong communication, good team player and negotiation skills with both internal and external stakeholders

Closing date for Applications: 07 September 2026

The base location for this role is Midrand, Vodacom Campus.

The company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

Vodacom is committed to an organisational culture that recognises, appreciates, and values diversity & inclusion.