Citi Client Casebook Middle East and Africa 2022

Liquidity and Working Capital 23 partner instead of a mere operational cost centre. Every year it has a strategic objective to track the team’s value across the group and ensure it remains on par if not above its treasury peers across the globe on how to manage risk and deploy innovative solutions. Key Benefits • Additional US$100m of working capital unlocked. • Increased automation. • FX hedging analyses, decision making and reporting improved. • Enhanced cash forecasting capabilities. • Interest optimised. • Long-term team development. MultiChoice and Citi collaborated to meet their goal of improving liquidity, operational and financial management through a fully automated liquidity solution for the Group’s Dutch subsidiary, Irdeto BV (the Irdeto group). MultiChoice aspired to improve their visibility and control of the Irdeto group’s cash. This was achieved by centralising multiple currency balances to a single location through a Target Balancing Structure whilst leveraging Citi’s extensive Multi Currency Notional Pooling (MCNP) capabilities to provide a single net cash position across nine currencies. The MCNP was seen as an integral tool to maximise working capital, providing an integrated and automated funding model to support MultiChoice’s journey towards a centralised treasury function while adding value to the Irdeto group’s operations. The synergy between both organisations allowed for a seamless and timely implementation.” Sam Cox EMEA Cash Management Sales, Treasury and Trade Solutions, Citi It has been a fantastic year for the team in so many aspects and our actions and achievements will continue to provide motivation going forward. The past 12months will be a constant reminder that nothing is impossible and you can achieve anything when working as a team. Having a servicemindset is the cornerstone to a strategic and value-add treasury department and we will continue to do that in everything we do,” concludes Beukes.