Summary
Overview
Work History
Education
Skills
Affiliations
Languages
References
HOBBIES
ADDITIONAL INFORMATION
Timeline
Generic

Phillip K. Takalimane

Maseru

Summary

Detail-oriented and results-driven Chartered Accountant (CA) with over 15 years of extensive experience in auditing, reporting, and strategic planning within the banking and telecommunications sectors. Proficient in International Standards on Auditing, IFRS, and Lesotho tax laws, with a strong foundation in financial modeling, budgeting, and forecasting techniques. Committed to ethical practices and continuous improvement in accounting control systems. Adept at leveraging analytical skills to drive financial performance and ensure compliance with regulatory standards.

Overview

14
14
years of professional experience

Work History

Head: Financial Reporting

Nedbank Lesotho Limited
Maseru, Lesotho
01.2025 - Current
  • Led financial reporting initiatives to ensure compliance with regulatory frameworks and internal policies.
  • Streamlined month-end closing processes to enhance accuracy and timeliness of financial statements.
  • Developed comprehensive financial analysis reports to support executive decision-making and strategic planning.
  • Mentored finance team members, fostering professional development and enhancing overall departmental performance.
  • Collaborated with cross-functional teams to align financial strategies with organizational goals and objectives.
  • Oversaw implementation of new reporting systems, improving data integrity and accessibility across departments.
  • Conducted risk assessments related to financial reporting, identifying areas for improvement and implementing corrective actions.
  • Coordinated with IT department to implement system upgrades, ensuring seamless integration and improved financial reporting capabilities.
  • Conducted thorough analysis of financial data, identifying trends and making recommendations for strategic decisionmaking.
  • Developed comprehensive financial reports for senior management, providing valuable insights on company performance.
  • Managed annual financial reviews and audits with external auditors.
  • Spearheaded the adoption of new accounting standards, ensuring compliance with regulatory requirements.

Financial Manager

Nedbank Lesotho Limited
Maseru, Lesotho
04.2021 - Current
  • Maintains chart of accounts for Nedbank Lesotho.
  • Checks the trial balance every month-end for accuracy before use by other stakeholders.
  • Reviews and approves manual adjustment journals before being posted to Accounting System.
  • Reviews monthly reconciliations for Fixed assets, suspense accounts, accounts payables, prepayments and Derivatives.
  • Prepares Intercompany balance confirmations and shares them with Nedbank Group counterparties for review and confirmation.
  • Prepares corporate tax computations for monthly current and deferred tax provisions in accordance with Income Tax laws.
  • Prepares monthly management accounts for the Banks and submits to Executive Committee and Nedbank Head Office Finance department.
  • Compiles monthly Assets and Liabilities Management report for the bank for submission and presentation to the Assets and Liabilities Committee (ALCO).
  • Performs secretarial duties for Assets and Liabilities Committee.
  • Reviews and approves weekly, monthly and quarterly regulatory reports for both CBL and SARB.
  • Prepares half yearly and annual financial statements for Nedbank Lesotho in accordance with IFRS and Nedbank group guidelines.
  • Reviews and updates finance and ALM policies, frameworks and processes.
  • Coaches and mentors a team of four accountants in ensuring that company objective relating to timely reporting, accurate financial records and company assets are safeguarded.
  • Liaise with the external auditors to ensure audit of the Annual financial statements is conducted efficiently.

Finance Manager - Planning

Econet Telecom Lesotho
Maseru, Lesotho
03.2017 - 12.2019
  • Coordinated, consolidated and presented annual company budgets and periodic forecasts.
  • Prepared ETL budget reports as required by Econet Wireless Group Head-office.
  • Prepared detailed cash flow forecasts for use by management and banks.
  • Uploaded the budgets & forecasts into Oracle Hyperion Financial Management (HFM) System.
  • Developed the financial models for projects, products and channels for financial performance evaluation.
  • Reviewed the entire range of ETL products, Services and Channels performance and gave recommendations to the CFO and other Departmental Heads (re-pricing, cost restructuring or product retirement).
  • Tracked actual costs and revenue drivers on a monthly basis to check and advice on deviations from budgets.
  • Checked monthly fixed assets accounts reconciliation statements and approved necessary adjustment journals.
  • Checked monthly inventory accounts reconciliation statements and approve necessary adjustment journals.
  • Oversaw the application of fixed assets, inventory, budgeting and procurement & warehouse procedures and policies.
  • Planned and defined the guidelines and procedures for physical verification and transfers of fixed assets.
  • Tracked accumulation of capital projects expenditure and checked that capitalization happens immediately upon completion of projects in line with IFRS and Econet policies.
  • Monitored the assets retirements by checking that retirement proposals and journals are in line with Econet policies and IFRS.
  • Prepared assets impairment & useful life assessment papers and submitted to CFO for approval.
  • Ensured the correct and accurate application of IFRS in the costing and accounting for all the company’s inventory.
  • Planned and ensured minimum write-offs of trade stock in line with the Stock management policy.
  • Led a team of 9 nine accountants and clerks in implementing the finance planning and procurement department objectives.
  • Prepared deferred revenue account reconciliation statement.
  • Checked the integrity of trial balance before month-end general ledger closure and recommended correcting adjusting entries in cases where errors (e.g., omissions, duplications, misallocations, etc) were identified.
  • Assisted with the Preparation of performance dashboards required by Econet wireless Group.
  • Provided management and Group head-office personnel with Adhoc information requests required for decision making.
  • Reviewed and approved inventory re-order levels submitted by Procurement & Warehouse manager to ensure availability of key stock items.
  • Reviewed goods received reports against agreed delivery lead-times to ensure that all goods ordered are delivered per contract/agreement to minimize stock run outs.
  • Reviewed the stock levels; minimum, maximum and re-order levels to ensure the optimal use of warehouse space and minimization of stock associated costs.
  • Approved payments instructions in the business online systems daily.

Management Accountant

First National Bank
Maseru, Lesotho
08.2015 - 02.2017
  • Assisted with the preparation and presentation of annual budgets for FNB Lesotho and its segments.
  • Checked reasonability of monthly loans impairment provisions calculations before processing of journals into the general ledger.
  • Checked the integrity of trial balance before general ledger closure and processed correcting adjusting entries in cases where errors (e.g., omissions, duplications, misallocations, etc) were identified.
  • Prepared monthly performance dashboards as required by FirstRand Group.
  • Prepared monthly, quarterly and annual management accounts for FNB Lesotho and its segments.
  • Compiled forecasts on monthly basis and recommended corrective actions when negative results were projected.
  • Provided adhoc information requested by management and EXCO for quality decision making (e.g. decisions on outsource vs in-source, costs restructures, etc).
  • Periodically reviewed costs & revenue allocation and apportionment assumptions for reasonability.
  • Prepared monthly CEO reports and quarterly board reports for FNB segments (Wesbank & CIB).
  • Prepared monthly and interim financial reporting packages for FirstRand Group using Oracle Hyperion Financial Management (HFM) application.
  • Assisted with the preparation of annual statutory financial statements in accordance with IFRS.
  • Provided training sessions to Non-financial managers on interpretation and use of management accounts.

External Auditor

Moores Rowland Chartered Accountants
Maseru, Lesotho
03.2012 - 07.2015
  • Identified and assessed risks of material misstatement through understanding of the clients.
  • Planned audit engagements in accordance with International Standards on Auditing (ISA).
  • Reviewed and Tested Controls on Property plant & equipment (PPE) cycles, Payables cycles, Receivables Cycles, Payroll Cycles, loans, inventory, etc, and made recommendations for areas of improvement.
  • Reviewed whether clients complied with Income Tax Order, VAT, Labour Code, Financial Institutions Act and Companies act of Lesotho.
  • Performed Audit procedures according to audit plan.
  • Performed value for money audits for Non-profit organizations.
  • Prepared financial statements for clients in accordance with International Financial Reporting Standards (IFRS).
  • Compiled Annual Tax Returns for clients.

Education

Chartered Global Management Accountant (CGMA) - UK

Chartered Institute of Management Accountants
UK

Advanced Diploma in Management Accounting - UK

Chartered Institute of Management Accountants
UK
02.2019

Chartered Accounting Stage Certificate (CA) - ACCA Affiliate

Centre for Accounting Studies
Maseru, Lesotho
12.2015

General Accounting Stage Certificate (GA) - undefined

Centre for Accounting Studies
Maseru, Lesotho
06.2012

Certified Accounting Technician Stage Certificate (CAT) - undefined

Centre for Accounting Studies
Maseru, Lesotho
06.2011

Skills

  • Experience with HFM software
  • Financial modeling expertise
  • Strong attention to detail
  • Experienced in Microsoft Office Suite applications
  • IFRS compliance expertise
  • Experience with Oracle EBS application
  • Financial planning
  • High-pressure performance
  • Financial forecasting
  • Financial account reconciliations
  • Effective multi-tasking
  • Effective leadership

Affiliations

  • Member of the Lesotho Institute of Accountants – CA level
  • Strategic Level Student - CIMA

Languages

Sesotho & English

References

  • Teboho, Tjaoane, Chief Financial Officer, +266 6222 0299, Econet Telecom Lesotho
  • Chabeli, Makoala, Former Finance Manager, +266 5806 2288, First National Bank
  • Moses, Fako, Audit Partner, +266 5885 2483, Moores Rowland

HOBBIES

Tennis and MTB Cycling, Reading Financial Mail and local newspapers

ADDITIONAL INFORMATION

  • Date of Birth – 19th June 1992
  • ID Number – 053177164123
  • Gender – Male
  • Nationality - Lesotho

Timeline

Head: Financial Reporting

Nedbank Lesotho Limited
01.2025 - Current

Financial Manager

Nedbank Lesotho Limited
04.2021 - Current

Finance Manager - Planning

Econet Telecom Lesotho
03.2017 - 12.2019

Management Accountant

First National Bank
08.2015 - 02.2017

External Auditor

Moores Rowland Chartered Accountants
03.2012 - 07.2015

Advanced Diploma in Management Accounting - UK

Chartered Institute of Management Accountants

Chartered Accounting Stage Certificate (CA) - ACCA Affiliate

Centre for Accounting Studies

General Accounting Stage Certificate (GA) - undefined

Centre for Accounting Studies

Certified Accounting Technician Stage Certificate (CAT) - undefined

Centre for Accounting Studies

Chartered Global Management Accountant (CGMA) - UK

Chartered Institute of Management Accountants
Phillip K. Takalimane