Difference Makers – Accountancy SA

https://www.accountancysa.org.za Home Sun, 24 Sep 2023 07:08:51 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 Cover Story – When being strong is the only option https://www.accountancysa.org.za/cover-story-when-being-strong-is-the-only-option/ Mon, 06 Feb 2023 13:45:22 +0000 https://www.accountancysa.org.za/?p=25586

A child of the townships, Jeff van Rooyen rose above his circumstances through hard work, determination and opportunity.

‘I’ve lost count of the number of times people have counselled me on aiming too high. Most of the time, their advice was that I should lower the bar and set myself what they considered to be more reasonable and attainable goals,’ Jeff van Rooyen writes in the prologue to his recently published book Unshackled: My Journey from the Township to the Boardroom.

Although born into poverty in Alexandra township in 1950, he refused to compromise when it came to his ambitions and, against all odds, he graduated as a chartered accountant. But it was not the career he had in mind while still at school.

‘The role models in our society at the time were teachers and doctors,’ Jeff recalls. ‘The conventional wisdom was that if you were good at mathematics and science, you went into medicine. But none of the local universities would accept me. Because I was classified as “Coloured”, I had to go to the University of the Western Cape. In 1969, at the age of 19, I went to study towards a BSc. But in the first semester, we lost my younger brother and that turned my life upside down.’

He writes in the book: ‘This accident, which was almost unbearable for me, along with the routine violence we lived with in the townships, created a huge sense of vulnerability within me. Looking ahead, it seemed highly unlikely to me that I would live to see my 21st birthday.’

That tragedy, coupled with severe financial woes, made it impossible for him to go back. The question was, ‘what next?’ He needed his matric certificate to apply for a job and he returned to his old school to request a copy. He bumped into his commerce teacher and mentor, Brian Theron, who got him to sign up there and then for a BCom at Unisa. The year was 1970. Jeff threw himself into his studies and completed the degree part-time, over six years. He calls it a transformative period that paved the way for him to become a CA(SA).

Unknown to Jeff at the time, but working in his favour, was the fact that the profession had recently adopted a voluntary code of employment, making a commitment to hire black clerks. He was invited for an interview by Schwartz Fine in Johannesburg and that was his entry into the accounting profession in 1975.

In 1981, he qualified as a CA(SA). He began to visit schools to build awareness of the profession and created a network of likeminded individuals who believed that to contribute to the economy, black people had to develop accounting skills.

In 1985, he spearheaded the formation of the Association for the Advancement of Black Accountants of Southern Africa (ABASA) to promote the professional interests of black people in the accounting profession.

To put things into perspective, this is a man who, attending a lecture in the 80s, was told that black people could not become CAs(SA). When pointing to himself, he was told he was the exception. He is extremely proud of what the organisation has become, attributing at least some of its success to his insistence on limited tenure – three years – for the president of the organisation, ensuring that there is no stagnation and that ABASA functions as an incubator for future leaders in the profession.

‘I believe in putting your money where your mouth is,’ he says. ’When we established ABASA, there was a lot of external resistance and I decided that to get it off the ground I would have to fund it myself rather than looking for sponsorships. We grew that fledgling organisation into what it is today because it was something that a small group of us passionately believed in.’

Since then, he has had many career-defining moments. The first was when he was admitted as a partner at Deloitte in 1990, four years before South Africa’s transition to democracy. The leadership of the firm was visionary, and they could see where the country was headed.

‘People around me said there was no way I was going to be made a partner, but when Deloitte opened the discussion, I was determined, and I made it happen. It changed my life dramatically, professionally and financially. After a decade there, I applied for the role of CEO of the Financial Services Board (FSB). I really enjoyed that position and I take credit for having piloted a great amount of legislation through Parliament during my tenure,’ he says.

In 1993, Jeff joined the ANC’s transitional team which was working with the previous regime on the restructuring of government and promoting the preparation for and transition to democracy in the lead-up to the 1994 elections.

It was also at that time that then chairman of MTN, Cyril Ramaphosa, asked him to join the board of the multinational company. Other highlights were his appointment as the chairman of Exxaro Resources, which is now moving from coal into global renewable energy, and then lead independent director of Pick n Pay Stores. In 2005, Jeff set up his own business, Uranus Investment Holdings, which he still runs today.

On writing his book, Jeff says he felt it was imperative for him to write his own historical record of what life was like for people in the Johannesburg townships of Alexandra, Newclare and Riverlea Extension, between the 1950s and 1960s, and to describe his own journey.

‘In the townships,’ he writes, ‘I picked up the knowledge, skills and experience to navigate difficult situations. However, unlike in the township gangs, where conflict is often life-threatening in general, usually the worst thing that can happen in politics and in corporate life is that you can get fired.’

But as a young boy, witnessing the chaos of life around him, he was overwhelmed by fear. ‘During the writing process, I believed it was vital to share some of the hardships I experienced, as well as the lessons I learnt. Young people have different challenges today, but the mindset you need to succeed against sometimes extraordinary odds, remains the same. It’s all about self-belief and determination. If you can say to yourself, “I lived through this horror. I can take the next thing that comes along,” you also discover that you don’t know how strong you are until being strong is the only option that you have.” I have had heart-warming responses from young people who have read the book and that has been very rewarding.’

An unintended consequence of writing, he says, was that the process was extremely cathartic. He writes about growing up with a single mother and being abandoned by his father and pulls no punches about his own personal life.

Through a combination of hard work, perseverance and uncompromising ethics, he climbed the corporate ladder, working for some of the biggest assurance and advisory services firms in the world, serving on oversight bodies, advising government officials and wrapping up a stellar career with a series of directorships on the boards of major JSE-listed companies. All the while, he has been a firm believer in giving back to the communities in which he grew up.

On the profession to which he has committed his life, he stresses that accounting plays a critical role in global financial markets and how South Africa is viewed in the world. ‘Local and international investors rely on financial statements when they make the investment decisions. For decades, the South African accountancy profession was regarded as one of the best in the world, but we have faced some challenges recently. That’s why it is more important than ever for us to understand the immeasurable value of what we do in terms of the progress of South Africa; the fact is that we work in the service of our country.’

When he has time to himself, Jeff loves to read – a passion he developed as a child. He also enjoys many different types of sport and plays golf at least once a week now that he has stopped marathon running.

A patriot through and through, he encourages young people to work abroad, gain new experience and make the most of what life has to offer. ‘We live in a much more global world today, and I believe there will always be those people who travel the world as their oyster and are then drawn back home because they love their country, and they want to contribute to its development.’

In Unshackled, he quotes former American First Lady Eleanor Roosevelt: ‘You learn by living – you gain strength, courage and confidence by every experience.’

A life spent learning lessons

Among the many life lessons Jeff has learnt during his career is the value of honesty and integrity. ‘Life is filled with temptations that come your way. It is incumbent on people in positions of authority to understand the responsibilities that we have and to live up to them with honour.’
Another big lesson is that people must always be very clear about what they want, and what their goals are. ‘If your objective is to become a billionaire and wealth accumulation becomes your god, know that you are never, ever going to reach a point when you are satisfied. To young people I always say that it’s important to have a goal that is greater than just about yourself. The difference I want to make to this generation will have a positive impact on the next generation. Going beyond mere self-interest is what enables us to leave a lasting legacy.’
Jeff is opposed to prejudice of any kind. ‘For most of my life, I was defined by the colour of my skin and the associated stereotypes. I will not do the same. I judge people on the basis of their knowledge, skills, experience, values and principles. That is how you draw kindred spirits.’ This is a philosophy he espouses in his book: ‘I will cling, with all my might, to the belief that there is a better way, that it is possible for all of us to rise above our narrow racial identities and to build a society that is truly non-racial, a society where we respect people for who they are rather than for how they look on the surface.’

Author
Monique Verduyn

]]> TOP 35-UNDER-35 | Category Winner: Develop https://www.accountancysa.org.za/top-35-under-35-category-winner-develop/ Fri, 09 Dec 2022 14:00:40 +0000 https://www.accountancysa.org.za/?p=25327

Persevere. The ride is worth it!
In this year’s Top 35-under-35 competition’s Develop category, judges were looking for an individual using their designation, skills, and training as a CA(SA) to influence and develop business.

Josh Moritz (32)
Head of Operations and Finance at DocFox

They asked whether the model is replicable, scalable, and sustainable and questioned how innovative and creative the techniques employed by the individual are to spur business growth.

The winner, Josh Moritz CA(SA), head of operations and finance at DocFox, ticked all the boxes and more.

Josh has always had a keen passion for technology, learning, innovation and entrepreneurship. ‘I am also passionate about recognising peoples’ talent and helping them develop to reach their full potential.’

After completing his CA(SA) at EY and returning from the USA where he worked for Cross Country Consulting, Josh joined DocFox in 2017.

Each hurdle an opportunity

‘I have been entrepreneurial and financially minded since I can remember. I knew that becoming a CA(SA) would give me a solid understanding of how businesses work and would build a strong foundation for the path I always dreamed of following. My journey has been a roller coaster filled with many highs and lows. It has taught me to be resilient, to persevere, and that nothing comes easily. It is so important to use each hurdle as a new opportunity for learning and to ensure that you grow from them; this makes any obstacle that comes your way surmountable.’

DocFox automates businesses’ KYC processes so that their compliance teams can make better-informed decisions in a fraction of the time, all the while in the pursuit of making money laundering impossible.

Josh joined the company primarily to focus on financial forecast, budget, and valuation to aid in the seed funding round.

‘A challenge I faced when joining DocFox was adapting to a company that was a start-up, especially after coming from a big corporate organisation. Joining a start-up in its infancy is tough − there are few processes in place, and I found myself doing a bit of everything in the company, which often felt confusing and overwhelming. Roles are not clearly defined, and expectations can be a bit blurred. I saw this as an advantage and opportunity to be able to pave my own path in the company. I also saw this as an opportunity to learn about and immerse myself in all the different areas of business, and I firmly believe that this has played a huge role in getting me to where I am in DocFox today.’

To be a leader takes a team

As the sixth employee at DocFox, he formed part of the founding leadership team and was instrumental in the building of a start-up from humble beginnings to a business with over 250 financial institutions using its product each day.

He aided in making key financial and strategic decisions which have ensured that DocFox has continuously grown by 100% year-on-year and played a key role in growing the business from a team of six to one that now boasts more than 80.

‘It was a massive personal achievement just being selected as one of this year’s finalists. It was a surreal and overwhelming feeling when I was announced as a winner. It has been such a humbling experience reflecting on my career and so much of my success is attributable to the amazing company I work for. I feel immense pride and gratitude to have been selected as a winner amongst such incredibly talented and inspiring candidates,’ he smiles.

Be passionate about people

Josh currently leads the biggest team in the organisation. He has a passion for people and puts great emphasis on empowering and enabling each person to be successful by understanding what they are experiencing and how he can aid them in their journey.

’Being a part of the founding leadership team, I have played a pivotal role in developing, implementing, and executing all the operational processes that we still use today. Over my six-year journey with DocFox, the business has grown exponentially, and these processes now allow us to support hundreds of customers who use our software every day.’

He is proud to have been instrumental in the development of a business from such humble beginnings to one that now serves over 300 organisations around the world.

To Josh, this achievement is a testament to all of the hard work, dedication and enthusiasm that has been put in over the years, and recognition of both his own personal, as well as DocFox’s success. ‘This achievement serves as a further driver to keep pushing the limits to achieve my goals, both personally and as a company.’

Josh believes that his role as a leader is to recognise each team member’s potential and to support them in furthering their careers. He is zealous about helping people to achieve the things that they didn’t believe to be a possibility for them.

He aims to facilitate the people who he is entrusted to lead to realise and reach their full potential, both for their own success and for the common good.

Reflect on what you have achieved

‘At DocFox, part of our culture is to set ourselves Big, Hairy, Audacious Goals. This enables us to grow the business as well as ourselves as quickly as possible,’ Josh explains.

‘Sometimes, not all of these goals are achieved, which can be very discouraging and can cause us to feel despondent, disheartened, and like we have failed. For me, it is so important to stop and take a step back to reflect on what we have achieved. It is then that I realise how much we have done and can appreciate how far we have come.’

Even so, Josh was humbled to be nominated by a previous winner of the Top 35-under-35 competition. ’When I heard what an incredible experience she has had, the phenomenal people she has met and networked with, and the opportunities that have come from this prestigious award, it was a no-brainer for me to accept the nomination and enter.’

Josh’s goal for the future is to continue on this steep growth and learning curve. ‘I have a dream of expanding our business across Europe and the rest of Africa.’

He reminds young and aspiring CAs(SA) that the qualifying journey is tough. ‘There will be times that you feel like quitting. Don’t give up. The CA(SA) profession will open up abundant doors and opportunities. It will set you up for success and teaches you invaluable skills and lessons that you will use every day in your personal life too. Being a CA(SA) means you can make a real difference. Hang in there, the ride will be worth it!’

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> Cover Story – TOP 35-UNDER-35: Overall winner 2022 https://www.accountancysa.org.za/cover-story-top-35-under-35-overall-winner/ Fri, 09 Dec 2022 14:00:36 +0000 https://www.accountancysa.org.za/?p=25322

I stand on the shoulders of giants
The 2022’s Top 35-under-35 overall winner was Mathabo Makhaya CA(SA), group financial manager at Harmony Gold Mining (health) and chairperson of the Investment Committee Mineworkers Provident Fund (MWPF).

Mathabo Makhaya (32)
Group Financial Manager Health at Harmony Gold Mining; Chairperson of Investment Committee, Mine Workers Provident Fund

When Mathabo Makhaya stepped in front of the judging panel, the judges were immediately swept away with what Mathabo has achieved as a woman in a predominate male industry – and even more awestruck to realise that she would be giving birth in literally a couple of days’ time − and yet it did not stop her from participating with wholehearted enthusiasm during the judging, giving a revelation of just the type of person she is. Nothing will stop her from giving everything her very best shot.

Mathabo is a woman of immense inner strength and has worked hard to get where she is and is doing her best to open doors and opportunities for others, changing the landscape so that the next generation does not have it as hard as she did.

Nothing about her journey was easy. ’Because of my background, I have always had to be three times as prepared as my average counterparts. I’ve had to put in more hours, which I believe shaped my work ethic to what it is now.’

‘I stand on the shoulders of the giants that have come before us, who had to fight quite different battles,’ she says.

‘The moment my name was announced was incredibly overwhelming, excitement, joy, and happiness, really!’ says Mathabo. ‘As someone who doesn’t like the spotlight on them, having worked very silently and quietly for several years to be finally recognised for the consistency in impacting people’s lives – something I regard as a part of me – was wonderful.’

She will cherish this accomplishment and recognition forever. ‘To see other people I have worked with celebrate me as well, to show that this win is a collective win is priceless. To see how proud my family and friends, who have witnessed first-hand the sacrifices that have gone into my career finally bear some fruit, is something I will treasure forever.’

Hard work and perseverance pays off

In her current position as group financial manager, Mathabo provides strategic financial oversite to the internal health management of 44 000 employees ranging from occupational to primary and tertiary healthcare provision. In addition, she is on the board of the MWPF and various sub-committees thereof, with responsibilities as the chairperson of the investment sub-committee.

Looking after R32 billion in assets for around 70 000 members has allowed Mathabo to champion diversity, equity, and inclusion in the asset management industry through various programmes that the fund has, including incubation of emerging managers and uplifting of diverse asset management companies, predominantly in South Africa but globally as well, while giving solid returns to members.

Mathabo, who was raised in Soweto by a single mother of four, says her journey to becoming a CA(SA) happened by chance. ‘My grandmother used to read the classifieds of newspapers and would see these CA jobs advertised. Coming from a family that had challenges like mine, she suggested I go study accounting after matric in the hope that I would be the one to get my family out of extreme poverty.’

She, however, always had her heart set on becoming a doctor. ‘I love helping people. My grandmother was not far off, though. As a CA(SA) I can make an impact and probably have a far greater reach. My journey was difficult, but I understood that I had one shot at this as I did not have personal funding for my studies, and I used that opportunity granted to me by others.’

Do things despite doubt and fear

Her journey was not without setbacks. ‘I have failed. I have had to master courage from an early age. I have overcome the challenges by asking for help when I needed it.’

Mathabo firmly believes mentorship has opened doors for her. ‘My mentors also put faith in my capabilities and helped me to be courageous in everything I do, even when I’m scared that everything might fall apart.’

She has learned the secret of doing things despite doubt and fear. ‘I took on huge projects early on in my career and had faith in my abilities to execute. I also put time and effort into building effective, trustworthy teams that provide immense support and buy into my vision. A lot of the wins have been through team effort, and I am proud to say I have worked with the best teams.’

Mathabo has led her current team to expand alternatives and impact investing to enhance returns for members with a corresponding increase in social benefits in targeted areas such as digital infrastructure in sub-Saharan Africa, among others.

Through MWPF representation, she is also a founding committee member at Asset Owners Forum South Africa (AOFSA), which is a voluntary coalition of pension funds in South Africa with the strategic aim of investing in infrastructure projects in South Africa. The total estimated value of the forum is approximately R3 trillion.

Challenge the status quo to create meaningful change

For Mathabo, it is important to challenge the status quo in a predominantly male industry. ‘It is a personal driver to open doors and opportunities for others, to change the landscape so that the next generation does not have it as hard as we did. I stand on the shoulders of the giants that have come before us, who had to fight quite different battles.’

She believes each generation needs to change and challenge something to enable things to be much better. ‘I want to change the landscape of industries, ease structural barriers for previously marginalised groups of people.’

Mathabo is an ambitious young woman. She is passionate about transformation, small-business development, and impact investing, with a specific focus on gender equality and women empowerment. ‘My passion is social impact. It is using my knowledge and education to change people’s lives and contribute positively to economic development in the country through transformation. I am always rooting for the underdog. Justice and equity are my core drivers and seeing a society that coexists under equal circumstances is my ultimate dream.’

Some of Mathabo’s achievements include enabling multiple small businesses to go through enterprise supplier development programmes and contributing to the communities they operate in through small-business development. This led her to win the Young Leaders Connect (YLC) 2022 Lift up Leader in Business and IDEAL Authentic Leadership awards for her consistent demonstration of humble and bold leadership and commitment to transformation in her areas of influence.

She is currently also enrolled in the Duke / International Women’s Forum South Africa (IWFSA) women in leadership programme for 2022.

Follow through with your plans

Mathabo remembers attending her first Top 35 awards event in 2015 whilst still doing her articles. ‘My friend and I were manifesting that this is where we will end up one day.’ The same friend she attended her first ceremony with, nominated her.

She describes herself as someone who generally follows through on her plans.

I felt that this year was the right time.’

‘The SAICA Top 35 is such a prestigious and challenging process on its own, and the people that are selected as finalists are all so intimidating, powerful, and incredibly talented. The thought of just being selected amongst them felt like a pat on the back – that I am also worthy, capable, and deserving.’

She admits imposter syndrome has plagued her up to this point in her life. ‘Now, it had to let me go,’ she smiles. ‘Every year before this year I was rationalising with myself why I wasn’t worthy as yet. Now I realise it was probably all in my mind.’

Winning the first spot in SAICA’s Top 35-under-35 competition for 2022 is validation for Mathabo that she is on the right track. ‘It proves that what I am doing matters. Most of the work I have done with my teams has emerged from a deep sense of purpose and is passion-driven.’

For her, it is a great honour to be recognised by her industry peers. ‘I am excited to see how this win will catapult my career to greater heights through the new networks created, the relationships fostered and the collaborations yet to be formed. This achievement feels to me like a tiny reminder to myself to ‘go forth and conquer’ and continue innovating, evolving, and adapting as a leader. This award is also a collective win for me and my teams.’

Be the change you want to see

On a personal level, Mathabo is an advocate for gender equality and women’s empowerment through education. She is the founder of @generational wealth for women and girls – an organisation that focuses on financial literacy education and wealth building for women, championing independence. She is also a strong advocate of thought leadership on how to transform communities, and industries.

In addition, Mathabo has partnered with schools in Soweto to provide ongoing assistance in the form of mentorship, career guidance, sanitary pads, and uniforms to previously disadvantaged pupils.

‘I would like to be part of the people that are going to take South Africa forward with the challenges that our society faces. The seeds are being planted and corporate South Africa has a big role to play in being part of the solution. The next few years will be focused on me positioning myself in strategic organisations that have influence.’

Her advice to young and aspiring CAs(SA) is to find their passion early in their journey. ’Understand your why because it will carry you through the failed modules, the difficult articles, the countless heaps of challenges that you will face on this journey.’

Mathabo knows she is a difference maker because she leaves environments better than when she found them. ‘I am continuously looking for ways to make my organisation a better corporate citizen, my community a better place for the people, and trying to touch even one single life.’

She believes the accounting profession equips its members with a specific set of tools and analytical thinking that allows them to solve complex problems. ‘In a country riddled with multiple economic and social issues, we need leaders that have the necessary technical ability to solve these problems and an added layer of empathy to be able to make a difference for something greater than yourself. If each CA(SA) makes a difference in their area of influence then as a profession we can move the needle towards a more cohesive, inclusive, and thriving community and country.’

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> TOP 35-UNDER-35 | Category Winner: Influence https://www.accountancysa.org.za/top-35-under-35-category-winner-influence/ Fri, 09 Dec 2022 14:00:32 +0000 https://www.accountancysa.org.za/?p=25330

Fighting the good fight
The winner of the Top 35-under-35 Influence category gets judged on how they are impacting people, and how they make a difference in not only their personal spheres of influence but also the impact they have on society.

Christiaan van den Berg (28)
Co-Founder and Co-CEO, JOBJACK

Christiaan van den Berg CA(SA), co-founder and co-CEO of JOBJACK, has more than excelled and therefore walked away as the Influence category winner of 2022 at the awards ceremony in November.

‘It felt incredible to have won the Influence category award,’ exclaims Christiaan, ‘especially among such an incredible Top 35 group. I am really thankful that our impact at JOBJACK is being recognised.’

Christiaan is passionate about bringing change to those less fortunate, utilising the platforms he has access to, to drive these changes: CA(SA) being one of the forefronts of these blessings,’ he smiles.

‘Having been fortunate enough to receive a prestigious qualification and thereby having been exposed to an incredible way of thinking with regards to sustainable business practices and processes as well as ethical practices, I can now apply those scalable practices to create impact around me to those not as fortunate as myself. It is up to us as CAs(SA) to grow the economy and be change-leaders by setting an example.’

He was inspired by the example set by his father to become a CA(SA). ’That, and the idea that it would be the best base to have if I wanted to enter the world of entrepreneurship and problem-solving.’

A journey of perseverance

For him, the journey has been one of perseverance. ‘My personality is definitely not theory-driven, so when I passed ITC, I knew it was inevitable. Even after some setbacks such as spending a year in and out of hospital, in a wheelchair, on crutches, and 11 surgeries after an accident where I almost lost my leg, I realised that the journey was possible through the guidance of God.’

During his SAICA articles at PKF in 2016, Christiaan was confronted with a major concern. ‘As easy as it was for me to find work after my studies, the people around me had major struggles in finding their first job, especially those without tertiary education. It was impossible for them.’

With the exposure he received in different systems and markets, Christiaan started probing this problem, looking at solutions – something that could help at scale.

JOBJACK is a technology platform that automated the entire entry-level recruitment process for all parties involved. ‘We make entry-level opportunities accessible to low-income job seekers. Where the norm is for them to spend up to R932 per month on printing and transport costs to try and find employment, we make such opportunities accessible via their phone on a web browser at no cost to create an online CV or profile and connect them to thousands of opportunities that they can apply for,’ he explains.

Companies can then streamline their recruitment process by an automated process in which they are connected to relevant candidates that fit their opportunities best − saving all parties major costs and time.

Passion creates meaningful change

JOBJACK currently has over 1 200 000 registered job seekers and is growing by 3 000 job seekers per day. ‘We service over 2 000 employer sites across South Africa, including employers such as PEP Stores, Woolworths, the City of Cape Town, TFG, McDonald’s, KFC, and many more.’

They have, over the past almost three years, placed over 8 000 low-income individuals in sustainable job opportunities. The aim is to place another 20 000 in the next 18 months.

’Our impact survey has also found that, on average, each individual placed has about 4−5 dependants, thus resulting in the life improvement of at least 32 000 people so far.’

It is important to Christiaan to challenge the status quo. ‘Our outlook, mindset and society would seize to grow if we do not challenge the status quo.’

He is passionate about people. ‘Especially creating a mindset where you aim to be the best part of someone else’s day,’ he smiles. ‘I also really have the drive to learn, share and shape a norm where an entrepreneur or leader’s first focus is family.’

Every morning this husband and father of one wakes up excited to take on the day. ‘Partly due to the selfish reasons of the amazing position I’ve found myself blessed with as each day, I get to work with incredible individuals whom I have surrounded myself with who have come to share my passion.’

In a society that has a 65% youth unemployment rate, Christiaan sees it as an amazing opportunity to be able to inspire a team to connect hundreds of desperate individuals to job opportunities to be able to support their households.

Be a difference maker

He sees himself as a difference maker because he openly shares his passions, struggles, fight, and mission to change the societal norm of the unemployment loop due to inaccessibility to opportunities. ‘And it seems that this in turn ignites those around me to also become difference makers and share in my passions, struggles, fight, and mission to #EmploytheWorld.’

Christiaan believes he received the Influence award because of JOBJACK’s amazing work. ‘We are changing thousands of lives by connecting entry-level job seekers to relevant opportunities. We really are having a big influence on South Africa’s employment.’

Fighting the good fight is a big motivator for Christiaan. ‘I hope that this sparks encouragement to others to use their platform and skills to take on social issues.’

He realises the value in the amazing connections that one has the opportunity to be exposed to during the Top 35 process, as well as the recognitional and exposure that JOBJACK would receive.

Lead, inspire and enable

Christiaan’s main focus each day is to lead, inspire and enable the amazing team at JOBJACK, which has grown from seven people in January 2021 to 32 champions and growing monthly. In 2021 they won NSBC’s Small Business of the Year: Technology.

‘This journey so far is only the start. Within the next 18 months, we plan on starting to expand across Africa and other emerging markets across the world thereafter in our mission to Employ the World.’

Christiaan’s advice to young and aspiring CAs(SA) is to back yourself. ‘Whether listening to your intuition or simply forming healthy habits – the world is yours for the taking and the only thing keeping you back is usually the limits you place on yourself.’

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> TOP 35-UNDER-35 | Category Winner: Develop https://www.accountancysa.org.za/top-35-under-35-category-winner-develop-2/ Fri, 09 Dec 2022 14:00:32 +0000 https://www.accountancysa.org.za/?p=25334

Taking entrepreneurship to an exponential level
In this year’s Top 35-under-35 competition’s Lead category, judges were looking at how an individual uses their leadership skills, not only within business but also within their personal spheres to influence and inspire. A true leader creates value, motivates, disrupts, and fosters growth.

Louw Barnardt (34)
Co-founder and Managing Director at Outsourced CFO

2022’s winner, Louw Barnardt CA(SA), co-founder and managing director of Outsourced CFO (OFCO), proved himself to be an outstanding and exemplary leader.

‘It was incredible to have such a great pool of young, talented CA(SA)s making such an impressive difference in their respective fields, together,’ says Louw about the Top 35 competition. ‘I have always strived to be the best leader I can be in my field. Having a category win is amazing!’

Louw started the award-winning finance firm, Outsourced CFO, with fellow Top 35 chartered accountant Dana Pretorius at the end of 2013.

‘I’ve wanted to become an entrepreneur since the age of six and have been passionate about it ever since. I realised I loved the idea of creating something from nothing,’ remembers Louw. ‘I’ve also grown to love the idea of a business making a bigger impact as it scales, than any one individual can in their own capacity. A big business can touch so many different lives.’

Be hungry for knowledge and never stop learning

His father, also a CA(SA), was a major inspiration in his life choices. ‘The CA(SA) route is such a great way to gain so many years’ worth of experience in such a short space of time. It gives you such a good framework to understand finance, tax and the way business works.’

According to Louw, if you see through three years of articles, you have learned from many different companies and industries and have seen more than 100 years’ worth of financial data! ‘It gives you so many reference points on what works and what doesn’t when you want to start your own business.’

Under Louw’s leadership as managing director, the company has grown from two desk spaces to seventy people in just under nine years, posting more than an average of 50% growth per year.

All the sacrifices they have had to make along the way to success have been well worth it. ‘Not only was it a lot of stress and hard work,’ admits Louw. ‘Starting out, we had just about no capital. We had to make enormous salary sacrifices for many years – choosing against corporate salaries to create something we believed would be meaningful and impactful.’

Sacrifice is worth it in the end

Within OCFO, Louw has spearheaded the creation of the leadership and strategic frameworks on which the company is built. He co-created OCFO to not just be a business built on integrity and flawless ethics but a meaningful place of work with an incredible culture and huge capabilities to accelerate the careers and personal growth of all of its employees.

Outside of OCFO, Louw and his team have set up Founders Foundation NPC, a non-profit vehicle that runs various programmes and initiatives for young and previously disadvantaged entrepreneurs who are starting on their journey. Together with corporate partners, they have helped to secure more than R80 million in funding and have supported more than hundred and fifty entrepreneurs with financial mentorship.

OCFO has been named a Xero Partner of the Year finalist (2022) and is counted among the Fast Company Most Innovative Companies in South Africa. Their team has helped raise well over a billion rand in growth funding for entrepreneurial companies.

Outsourced CFO now serves clients from over 25 different countries around the world, and their staff operates from six provinces in South Africa and three continents around the world. They have worked with more than 1 000 companies over the past nine years and have made a significant impact.

‘It has been an absolute privilege to be part of Outsourced CFO’s leadership team and to raise up a team of leaders who are now leading the organisation.’

Business is a vehicle for change

Louw has been recognised as a Top 35 chartered accountant in 2015 and 2016, a Top 3 finalist for Young Professional of the Year in 2016, and the Sanlam / Business Partners Emerging Entrepreneur of the Year winner (EOY Awards 2018).

He has been included among the Fast Company Top 20 under 30, the Fast Company Most Productive People in Business, and Insights Success magazine’s Top 40 under 40.

He is also one of the youngest members of the Entrepreneurs’ Organisation, among three hundred South African founders that form part of their global network of over seventeen thousand million-dollar companies.

Louw sees the Top 35 competition as a fantastic platform to reach a wider audience and share your message with the world. ‘This category win is a really good milestone and a great process of reflection on how far OCFO has come, as well as an inspiration for the future.’

He recognises there are a lot of problems in the world that needs solving and therefore it is important to him to challenge the status quo. ‘Every business ever created was made to solve some problem. As a society, there are still many problems to solve – a lot of which we have created for ourselves. Business is such a good vehicle to make a difference, to create meaningful change, and improve people’s lives.’

Become an unstoppable force

Louw is fiercely passionate about entrepreneurship as a force for good. ‘It is a mechanism that can make a meaningful difference in people’s lives and change the way the world works. This is my calling.’

Starting out, OCFO’s mission was to create a company that can touch the journeys of 10 000 entrepreneurial companies and build a team of 1 000 professionals. ‘This is still one of the major goals we are striving toward.’

His advice to young and aspiring CAs(SA) is to be hungry to learn as much as you can. ‘The CA(SA) route teaches you how to absorb a lot of information and how to think analytically and critically and how to redeploy your mind. Also, follow your dreams and be patient. Great things take time.’

He also wants to challenge CAs(SA) to develop valuable skills outside of the profession. ‘This includes marketing, sales, software development, and networking. These things are important and powerful. Never stop learning and learn as much as you can to become an unstoppable force!’

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> TOP 35-UNDER-35 | Game changer Award https://www.accountancysa.org.za/top-35-under-35-game-changer-award/ Fri, 09 Dec 2022 14:00:18 +0000 https://www.accountancysa.org.za/?p=25337

Freedom through education
The winner of SAICA’s Top 35-under-35 Game Changer award, Boitumelo Kuzwayo CA(SA), believes South Africa is in dire need of opportunities for our youth. ‘If things don’t change, we are potentially facing an Arab Spring.’ She is doing all she can to change this narrative with her students passing with a 90% average!

Boitumelo Kuzwayo (35)

Deputy Head of Department, Department of Commercial Accounting, University of Johannesburg

Although Boitumelo qualified to study at Wits University, her parents did not have the necessary funding. ‘My mother worked as a personal assistant to a director of the company. She found out that Deloitte was the auditing firm. She knew it was one of the Big Four. She then found out who the audit partner was. She bumped into him in a lift, told him my father and she didn’t have the funds to pay for my tertiary education, and recited my Maths and English results.’

And today Boitumelo is the deputy HOD of the Department of Commercial Accounting at the University of Johannesburg and responsible for the Teaching and Learning programme across 40 staff members that teach approximately 1 500 students across the qualification. She holds an MCom in International Accounting.

In addition, Boitumelo has contributed to providing previously disadvantaged students with access to quality education through a bursary programme and academic support.

These programmes have supported some 400 beneficiaries since 2018. The pass rate on both programmes has averaged 90% since their inception. The total budget for the programmes was R33,9 million and Boitumelo led a team of 95 individuals including lecturers, tutors and mentors.

She also runs a professional services company called Illimite Consulting

An unexpected journey

The audit partner, Tony Zoghby, suggested Boitumelo apply for a Deloitte bursary. ‘I will never forget him. I was awarded the bursary from the first year, and all I had to do was work hard and pass.’

Her journey was unexpected. ‘I thought I would remain at Deloitte and become a partner, but my path has been completely different. I joined UJ in 2015 and have grown in different ways through the people I have met and the roles I have worked in. We are a sum total of the decisions we made five, 10, or even 20 years ago. This is true for me.”

Let go of doubts and insecurity

Throughout her life, Boitumelo has been plagued by imposter syndrome. ‘At work, but also in life in general, I had insecurities about my abilities. However, the belief and affirmations that my parents, brother, grandparents, extended family, friends, and colleagues constantly instilled in me enabled me to take up space in places where either others didn’t believe I should have been there or where I thought I shouldn’t have been there.’

She also had to overcome her challenge of passing by surrounding herself with like-minded people. It is important to have people in your life who wants to achieve the same things as you do. That was a key factor in obtaining my qualification.’

Education is the key to meaningful change

Boitumelo is passionate about making a meaningful difference in people’s lives. ‘I try to achieve this through education where I work and also through exposure. By doing that, one student can take themselves, their families, and generations out of poverty both mentally and financially.’

In 2022, Boitumelo was named one of Mail & Guardian’s Top 200 Young South Africans in the Education category, as well as Academic of the Year at ABASA’s annual Women Leading Conference and Awards.

She was also nominated by her head of department, the director of the school, and the executive dean of the college to participate in the Emerging Leaders Leadership Development Programme at UJ, focusing on the development of future leaders.

‘I feel incredibly honoured and humbled to have won SAICA’s Top-35 under-35 Game Changer category. Being selected as one of the 35 finalists was already victory for me, and this was the cherry on top,’ she smiles.

‘I think I won the Game Changer award because my work focuses on non-CA stream students, specifically students studying for a diploma in accounting.’

The Department of Commercial Accounting runs a programme for students who either apply for the Bachelor’s in Accounting Science (CA stream) or Bachelor’s of Commerce in Accounting (BCom). However, they unfortunately don’t qualify because they either don’t meet the minimum APS score or did Maths Literacy as a matric subject. Therefore, some of our students feel demotivated and discouraged because they aren’t doing their qualification of choice,’ she explains.

Always be a game changer

Through various leadership roles, Boitumelo has led her department in obtaining and retaining accreditation with various professional bodies over and above SAICA, including, amongst others, the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA) and the Institute of Internal Auditors (IIA). This has broadened their students’ options within the accounting profession.

Winning the Top-35 under-35 Game Changer category affirms to Boitumelo that she is doing something right and worthwhile. ‘Despite the doubt and imposter syndrome I sometimes go through. I think it also assures that I should continue doing meaningful work that impacts and changes students’ lives.’

She is also excited about the many exceptional individuals she has met through the process. ’I believe it will open doors that I never thought would open up that will positively enhance my career and take it to the next level.’

Boitumelo believes South Africa is in dire need of opportunities for our youth.

Her goal is to continue being a game changer. ‘Education, in any form, opens your mind to different possibilities. It doesn’t need to be formal; however, formal education is important. It can be in the form of apprenticeships or educating people on how to create wealth for themselves that will ultimately create jobs and industries in our country. I think our society needs, to some extent, to put more emphasis on vocational studies.’

Boitumelo’s reminder to young and aspiring CAs(SA) is: It is possible. ‘Be very intentional about the people you surround yourself with because they can either make or break you in the long run. That is key to progressing and succeeding on this journey and any journey one chooses to embark on. And don’t forget to pay it forward on your journey and once you have completed it, especially for African black youth.

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> Cover Story – Leadership means running towards the fire https://www.accountancysa.org.za/cover-story-leadership-means-running-towards-the-fire/ Tue, 01 Nov 2022 09:30:11 +0000 https://www.accountancysa.org.za/?p=25208

Twenty-five years after joining Deloitte Africa as a trainee, Ruwayda Redfearn has taken up the mantle of CEO, becoming one of the biggest names in the professional services sector on the continent. Her vision is for the firm to be a trusted global partner in Africa and an employer of choice for top talent across the continent, and to continue to make an impact on people, clients and society.

Ruwayda Redfearn believes that a big part of overcoming adversity is seeing the long game. This is where leaders with emotional intelligence excel. Their emotional stability allows them to persevere. Yes, she’s proud to be the first black female CEO of Deloitte Africa. But it’s about much more than that. It’s about what she can do to be useful – to the organisation, to the economy, to society. We asked her what she is going to do with the platform she has been given.

RUWAYDA’S WAY

Real leaders don’t run from challenges. It’s an approach to life – and work – that has served Ruwayda well. A staunch Sharks supporter, she grew up in Durban at the tail end of apartheid. Although she was an A achiever at school, she came from humble beginnings and back then bursaries were not available for black students. ‘The one thing I knew for sure was that I was going to become a chartered accountant,’ she says.

Tragedy struck when her father, her greatest supporter, died in a car accident at the start of her matric year. While having to cope with this enormous loss, her mother continued to run the family clothing business, but times were tough.

Thanks to her excellent marks Ruwayda’s university fees were reduced and she completed her undergraduate degree at the then University of Natal. When the local Indian community heard that she could not afford the fees for her honours year, they clubbed together to raise funds. It was an incredible moment for someone who had worked all the way through high school and varsity to help pay for her tuition’

‘I applied at Deloitte to do my articles and I put all my eggs in that one basket,” she says. ‘From the moment I walked in, I knew that was where I wanted to be. There weren’t many women in the building and there were even fewer people of colour, but Vassi Naidoo, who later went on to become CEO, was the regional leader at the time and he was an important role model of mine. I was incredibly excited to be accepted.’

That was in 1997, and she has never looked back. After a New York secondment, she returned to Durban as a manager and was appointed a partner in 2004. She was promoted to lead the audit practice of the KwaZulu-Natal region in 2010, serving some of its most prestigious clients. During this time, Ruwayda also chaired the Global Young Partners’ Advisory Council, reporting to the global CEO.

A stellar career

She was appointed to the Deloitte Southern Africa board and remuneration committee in 2011. In 2012, Ruwayda decided to take up a CFO role at a global commodity trading business for a three-year period, gaining invaluable experience and serving as a board member on a number of the group’s companies.

She returned to Deloitte in 2015 as the Office Managing Partner for the KZN region and managed the risk advisory business for the Eastern Seaboard. Ruwayda was appointed to the Deloitte Africa board in 2016 and has chaired the firm’s remuneration committee as well as serving as a member of the performance, reward, succession and nominations committee. In June this year, Deloitte Africa welcomed her as CEO.

‘It’s the firm’s unique and inclusive culture that has kept me here all these years,’ she says. ‘It changes with the times. Our ability to adapt quickly is what makes it possible for us to realise the true potential of digital transformation, embrace new business models, and implement new ways of working. We have an environment where every single person can become the best version of themselves.

‘I’ve been here for over two decades, and every two to three years, I find myself doing something different – from making career leaps to working with a diverse range of clients from different industries, and different sectors. That, for me, has created such diversity that I have never felt like I’m doing the same thing every day. That’s what is exciting and that’s what keeps me challenged. We have a saying that our blood is always green, and I suppose mine really is.’

A different approach to leading

Emotional intelligence, values-based leadership and a zero-tolerance approach when it comes to ethics are just some of the qualities that Ruwayda brings to the industry.

‘I want to make a significant contribution to society, so being purpose-led is important to me. I believe that Africa’s time is now and if we can bring the collective intellectual property of our 7 000 people in Africa, 415 000 globally, to solve some of the challenges and the problems on the continent, that would be a legacy I could be extremely proud of.’

One of her priorities is to position Deloitte Africa at the forefront of the ESG conversation. Clients need to increase their focus on ESG accounting and reporting standards related to their ESG goals. Another challenge for African companies is that leaders attend conferences like the United Nations Climate Change Conference, or COP26, make a number of commitments, and then return to work without developing a plan for how they can execute on their commitments. That’s where Deloitte has a key role to play.

ESG matters

‘Climate change is one of the biggest challenges of our time,’ Ruwayda says. ‘We are the last generation that has the ability to do something about it or lose the opportunity at great cost to the planet. Again, we can bring our collective IP to the topic of ESG, both in assuring integrated reports and advising on how to reduce carbon emissions and social injustices and contribute to more transparent reporting.’

Forty years ago, she says, different countries had different reporting standards, but many have moved to a consistent international standard for credible financial reporting. That same rigour has to be applied to producing ESG metrics that can be assured. ‘I believe that if it’s not measured, it’s not done. As soon as you start measuring something, you can set targets for what you want to achieve; that’s when the dial starts moving.’

She sees a crisis as a waste unless lessons can be learnt from it. ‘I can’t step back and allow something to happen in front of me; that’s not who I am. I have always run towards the fire. To find solutions, I always surround myself with the best people, whether in my personal life or in my career. I went through a personal health challenge eight years ago and I had to dig deep to overcome it. I approached it like I would a big Deloitte project – I chose the best people, the best team, and the best project managers. I listened to differing opinions and consulted as much as possible. And then I was able to come up with the right solution. That has taught me that resilience is fundamental to overcoming adversity.’

Hearing Gen Z’s concerns

She is inspired by the Gen Zs because they are pragmatic and value direct communication, authenticity and relevance. In talking to accounting students, she has seen an incredible desire to drive change, to ask difficult questions, and to hold leaders accountable.

‘That is a voice that must never be suppressed,’ she says. ‘My advice to young trainees is to use their voice as a force for good. In my last interaction with students, I talked to them about purpose and making an impact. After a round of polite questions, a guy at the back of the auditorium stood up and told me that I had spoken about how wonderful it is to be a CA(SA), but I had not touched on what the profession was struggling with and what contribution I was making’, she says.

‘That opened the floodgates. The very next question was about what the firm is doing to address climate change.’

Like many successful people, outside of her demanding job, Ruwayda loves to read. ‘I was the kid who was told to put my book down and turn off the light at 1 AM. I read everything from trash to science fiction to books about leadership, especially a different type of leadership. Brené Brown is a writer I enjoy. When I put together my new executive team, I bought them all a copy of Dare to lead. She describes the culture of leadership that she wants to create, one built on EQ, empathy, vulnerability and self-care. My other favourites are Maya Angelou, Chimamanda Ngozi Adichie and Malcolm Gladwell. I agree with Gladwell that preparation plays a big role in the formation of talent. The “10 000-hour rule” resonates with me and I can see how the key to achieving true expertise in any skill is simply a matter of practising for at least 10 000 hours.’

Although she loves to travel, it really is not as glamorous as it’s made out to be for someone in her position. But she loves to learn about different cultures and taste unfamiliar foods. The rhythm and discipline of running offer her an ideal space for meditation and staying sane, and her four-year-old son makes her laugh all the time.

A patriot at heart, Ruwayda is here for the long haul. ‘I choose to stay in South Africa, to be positive but realistic, and to be part of the solution. Every time we think we are at the tipping point we always bounce back. Our continent is filled with amazing resources, especially when it comes to talent. We are on the precipice of digital transformation and there are huge opportunities for young professionals right here.’

See the fire and run towards it anyway

Firefighters are geared to run towards the emergency, towards danger. In the workplace there are metaphorical fires to fight – difficult situations and challenging projects.

Ruwayda’s way is simple:

Earn a reputation as a problem-solver − Be good at your job but be willing to go above and beyond to help. Choose to succeed and use your skills to help the team overcome their challenges.
Don’t check your job description − Instead, strap on your helmet and volunteer to help the team.
Make your bias towards action − Spend your energy providing direction and decisions for those who point fingers and wait. By understanding the information, you can absorb it and then act. Ask: ‘Is there something I can do right now that will bring value?’
Focus on helping other people win − Empower them to get better at solving their own problems. Harnessing and optimising other people’s skills to make them better takes more energy but creates more winners.
A rising tide lifts all boats − By helping others improve, the company improves and everyone wins.

Author
Marteli Brewis

Cover Story – Leadership means running towards the fire

]]> Cover Story – South African hockey captain: What changed my game! https://www.accountancysa.org.za/cover-story-south-african-hockey-captain-what-changed-my-game/ Wed, 05 Oct 2022 12:43:48 +0000 https://www.accountancysa.org.za/?p=25018

To become an international sportsperson and a chartered accountant is beyond the scope of most people’s dreams. Yet that is exactly what Phumelela Mbande CA(SA), goalkeeper and captain of the South African women’s hockey team, has achieved despite countless challenges. Her team competed at the 2020 Tokyo Olympics, where Phumelela had the honour of being South Africa’s flag-bearer, and she was recently named one of Mail & Guardian’s Top 200 young South Africans. In her story she opens up to us about her triumphs and inner struggles.

’I am a firstborn girl child with two younger brothers and a half-sister. They are my favourite people in the world!’ smiles Phumelela. ‘I also recently married my best friend – we went to the same high school and reconnected during COVID.’

Because of her busy life, Phumelela doesn’t have many hobbies, but loved reading as a child. ‘It was my favourite thing to do,’ she says. ‘But it was an intentional hobby.’

After moving from Umtata in the Eastern Cape to Pietermaritzburg, Phumelela felt lost. ‘I moved to a predominantly white school in Grade 4 and I couldn’t relate to most things culturally because I was from a very different background.’

To assimilate to her new surroundings, Phumelela started reading whatever she could lay her hands on. At the time, she felt unfamiliar with everything around her. ‘To this day, if I don’t know something, I will look it up. I don’t want to ever again not be able to participate in the conversation because I don’t know what everyone is talking about. Reading changed my entire experience!’

At Lynford, her new school in Pietermaritzburg, it was compulsory for all learners to play a sport. ‘I participated in everything and started playing hockey in Grade 5. I’d never even heard of the sport before, but I saw the ball and decided I would be the goalkeeper,’ she laughs.

She describes sport as something she latched on to from a young age. ‘I think when I found something I was good at, I went for it.’ This is the way she has always lived her life.

Initially, Phumelela struggled academically. ‘In Grade 6 I realised I was actually a smart kid, so I decided I was going to be really smart!’

The better she got at hockey and academics, the harder she worked to excel. ‘In Grade 9 I realised I could take hockey very far, so I joined a club team. This was the first time I decided to go for it.’ She made the SA under-16 squad the following year and went to the Youth Olympics in America in her matric year.

Phumelela never put her academics on the back burner. ‘I was really bad at accounting in Grade 9. I hadn’t conceptualised the subject. I was just memorising things,’ she explains.

She was, however, always good at maths. ‘I remember one day I was walking with my parents in town, and they asked me what I wanted to become. All I knew was that I enjoyed maths, so someone suggested becoming an accountant.’

She realised if she wanted to make a career out of accounting, she would have to take it more seriously. ‘I made a concerted effort and started getting it. Because I was a Top 10 academic student and a sport student, I was very conscious of people’s eyes on me and felt the pressure.’

Phumelela persevered and received an academic bursary from PwC, as well as a sports bursary to pay for her accommodation at the University of Pretoria. She has been playing for the South African hockey team since 2013, when she was only 19.

It was imperative to find a balance between the incredible demands of being a professional sportsperson and the harrowing pressures of completing her accounting qualification. The first year of University was incredibly hard for Phumelela. ‘I really just cruised in the first year. I focused on my hockey and failed my major.’

This setback did not derail her plans. She just started planning better. ‘I was living my dream and decided I was just going to be a really good hockey player. I was smart, so I thought accounting would come naturally. But it didn’t and I realised I need to be intentional about what I do.’

She had discussions with her coaches and lecturers and although many weren’t sure she could pull off being successful in both sport and academics, they were very supportive. She also coached hockey for six hours a week to make ends meet. Being the driven person she is, Phumelela made it work.

In 2016 Phumelela took a sabbatical from international hockey to complete her CTO, losing her sport scholarship. PwC gave her a full academic scholarship in her honours year, and she started with her articles there in 2017.

Three months into her sabbatical, Phumelela realised she was not doing well without hockey. ‘I was so used to having a limited amount of time and being really productive. When I suddenly had all the time in the world, I became very unproductive. It was a nightmare,’ she admits.

She started training again but took control of her schedule. Luckily her coaches were very accommodating. Her team competed at the 2020 Tokyo Olympics, where Phumelela had the honour of being South Africa’s flag-bearer.

These days, Phumelela is an audit manager at PwC. ‘I must say, this has been the hardest year to balance everything because I have a lot more responsibility at work and it was also a World Cup and a Commonwealth Games year.’

As a manager, Phumelela became acutely aware of the burden of leaving her colleagues behind to take over her work. ‘This has been the most challenging in terms of participating in hockey. It’s not great to walk away from the (work) team.’

The pressure of the world of accounting is something she is acutely aware of. ‘I’ve come to the conclusion that it’s the nature of our South African qualification,’ she explains. ‘You specialise in auditing, or finance or tax to qualify as a CPA, but it’s just a stepping stone to your qualification.’

’In the Netherlands (where I did a secondment), for example, if you choose to be an auditor, that’s the route you take for the rest of your life, so people are a lot more invested in the time that they’re spending as article clerks because this is the career for life. In turn, employers also want to invest in these people.’

She feels the situation is quite different in South Africa. ‘Employers don’t necessarily invest time and effort in clerks, because they are probably not going to stay anyway.’

The opposite side of the coin is also true. ‘Trainees just want to get their qualifications and get out. I think that creates a toxic relationship that makes it incredibly difficult for a sustainable healthy work environment.’
’Once you are at managerial level and you’ve chosen your career path, it becomes easier to be more intentional about work and changing the environment you are working in.

’It’s not going to get better until we are all intentionally trying to change it at any level. Part of the difficulty lies in working with deadlines. We try to get good results, but with a limited amount of time and maximising efficiency from a financial perspective. It all plays a factor. But the environment could be kinder if everyone had the same big picture in mind. It is a systemic problem.’

Although Phumelela herself had a great article experience, she has started struggling since becoming a manager. ‘I have my own mental health struggles and I know so many people struggle with it in the workplace – suffering from depression and anxiety.’

‘A lot of CAs(SA) have been the smartest people in the room for most of their lives. But the qualification journey is extremely tumultuous, and people experience it differently. Failure is normalised. It becomes the standard and you start holding yourself back. When you finally make it, you start wondering whether you belong.’

This feeling of being an imposter makes it difficult for CAs to admit they are struggling. ‘It’s such a competitive environment and you’re dealing with the best of the best. You don’t want to seem like you’re not managing.’
‘The point is, the audit space could be a lot happier and better if there was a concerted effort from both the top and the bottom to make it a better experience and environment.’

Throughout her life, Phumelela has been trying to overachieve. ‘I think I’ve always had ‘imposter syndrome’ – I don’t belong. Someone is going to call me out for not being good enough. I struggle with it on the hockey field as well,’ she admits, even though she has recently been nominated as the best international goalkeeper.

It took Phumelela a long time to realise she had a problem, and she has recently started seeing a psychologist. ‘I’ve realised the same thing that drives me – whether my drive for success, starting to work to support my family, or people saying I can’t – is also what cripples me.’

As a result, Phumelela is once again on a hockey sabbatical. ‘I needed this year to regroup because it all became a bit overwhelming,’ she admits.

Some days it is still difficult for her to motivate herself to get out of bed. ‘I feel like I am going to fail at what I am trying to do.’ This is why she decided to take some time for introspection.

Since she has started getting help, things are much better. ‘I would 150% encourage people to get help. It’s been a game-changer in my life. This year I have realised I do not need to suffer. Life doesn’t have to be so hard. These days I can wake up and face the day.’

Her employers have, however, been extremely encouraging and supportive throughout her hockey journey so far.

As an article clerk, Phumelela did not earn a lot and hockey is not a professional sport in South Africa, and therefore unpaid. ‘Sometimes we have to pay participation fees. My employer often put their hand up to assist me,’ she says gratefully.

In 2021 Phumelela had outstanding debt from varsity participation fees. ‘I’ve been trying to pay it off and got to a point where I’d been banned from participating in a tournament that I needed to participate in to be eligible to be selected for the national team.’

PwC settled her debt. ‘They have been really good to me, so this year I’ve decided to focus on my work.’
The future is still a bit uncertain. ‘I committed to the Commonwealth Games in August. That is what I discussed with my husband. I’m reassessing, but I’m not sure what the future looks like.’

Phumelela decided to take a step back for the time being. ‘I have given a lot of my heart to hockey for a long time. I think I’ve achieved all the goals I set out for myself. I’ve done everything my heart wanted to do.’
These past few months have been important for her to do introspection and see her life in a different life.

‘Hockey and accounting have been a big part of it for so long. But now I have a husband and we have plans for our future. It’s not just about me anymore. So, I’m trying to figure out what I want to pursue. I want to get comfortable and happy in my current life, and then I’ll see from there.’

Phumelela has recently been named as one of Mail & Guardian’s Top 200 young South Africans. ‘It was an incredible honour, because I come from very humble beginnings,’ she smiles.

A lot of what she has achieved happened because the people around her rooted for her. ‘They have invested time, effort, and money in me. I think I am the epitome of what opportunity can do for a young South African child.’

Her dream is to provide others with the same opportunities to be able to achieve a career that can sustain them for life. ‘Once I’ve settled in the next phase of my life, I would love to contribute to society in a way that allows young kids opportunities. If I never moved to Pietermaritzburg, I would never have had these opportunities. My life would have gone in a completely different direction. I just wonder how many other kids are missing out on those opportunities.’

Author
Marteli Brewis

]]> Cover Story – A quest to fight climate change https://www.accountancysa.org.za/cover-story-a-quest-to-fight-climate-change/ Fri, 02 Sep 2022 12:01:10 +0000 https://www.accountancysa.org.za/?p=24744

As a 22-year-old student, Professor Kurt Sartorius first set out to South America with an Indiana Jones mindset paddling down the Amazon’s Madeira River. He left describing the experience as one that ‘nearly broke me’. But in July 2022, 50 years later and at the age of 73 years, he found himself returning to paddle the giant river but with his son, Benn Sartorius, Professor Wayne van Zijl CA(SA) and a local Amazonian – and this time with a serious agenda in mind: to fight climate change.

As a youngster still in boarding school, Professor Kurt was completely intrigued with the story of Colonel Percy Fawcett, a famous South American archaeologist and explorer who mysteriously disappeared in 1925 during an expedition to find ‘Z’ − the name he had assigned to an ancient lost city which he believed existed somewhere in the vast Amazon jungle of Brazil. Kurt’s grandfather was also involved in a tin-mining operation in Bolivia, in South America, and had some experience of the continent’s early frontier days.

‘The dream started a long, long time ago. I just imagined myself in this great, green jungle on an adventure,’ describes Kurt, adding, ‘I think I was destined to do this!’

He dryly describes his first expedition on the monstrous river as a ‘completely uninformed adventure’.

‘To be honest with you, we were really city boys, and for a city boy to undertake something like this was not advisable. There’s piranha (one of the most dangerous fish in the world), wild Indians, and there were a million reasons why we shouldn’t have done it. And of course, my dad was a doctor and quite up to date on tropical diseases, and he invented every kind of reason why I would get sick.’

‘But we thought if we listened to all this, we’d never do it. We decided to just dive in and learn − if you survive you learn, and if you don’t survive, you don’t learn very much. But you need to be an outdoor person with some experience behind your back for it to be pleasant.’

After an experience that he said almost broke him, never did he dream he would be padding 1100 kilometres down the very same river 50 years later at the age of 73.

‘You can ask Wayne: he did it this time in the way I did it the first time – there’s nothing pleasant about it, except that you’re proud of yourself that you actually saw it out, because 90% of people would not see it out. I think we were just damn lucky, but then you’ve got to get to the end otherwise you’re stranded,’ says Kurt candidly.

Except for Kurt’s normal training, which is mostly walking and weights, he did not train much. ‘Paddling for eight hours a day is like sort of walking in the mountains. You brace yourself that it’s going to be terribly difficult for the first week and gradually you get eased into it. My best preparation was mental; I knew I was not going to enjoy this thing. And that turned out to be completely true,’ says Kurt.

The real reason behind the big adventure

But this time round the adventure would be for a greater cause close to Kurt, Wayne and Benn’s hearts – to raise awareness of the drastic impact of deforestation in the Amazon rainforest on climate change and to raise funds in support for reforestation initiatives and related scientific and business research.

‘The reason we did it is to raise awareness among the accounting industry of the importance of the role that the profession has to play when it comes to climate change,’ says Kurt. ‘Accountants have the tools, skills and responsibility to report, not only on financial profits and losses but also on the environmental impact of the businesses they operate in, so they have immense power to make a crucial contribution when it comes to fighting climate change.’

The Amazon is often referred to as Earth’s ‘lungs’ because its vast forests release oxygen and store carbon dioxide, a heat-trapping gas that is a major cause of global warming. The Amazon Basin occupies about seven million square kilometres and contains about 20% of the world’s freshwater. Burning the rainforest will exacerbate the marked change in global rainfall patterns. Although the Amazon Basin is referred to as the world’s lungs, its destruction will have a greater impact on rainfall distribution than on the world’s supply of oxygen, which comes mainly from our oceans. The ‘world’s lungs’ may sound dramatic, but the Amazon Basin acts as a carbon sink that stores CO2, and for the first time ever this forest is emitting more CO2 than it traps because of the forest fires, which are estimated to release a billion tonnes of CO2 per year.

‘I fully support combatting climate change, specifically the aspect of it being a borderless fight. Many developed countries got that way from taking advantage of their own natural resources. But now that they are developed, they want all the developing countries to protect their resources. But if we want Brazil to maintain the Amazon as we know it today, and as it has been in the past, everyone needs to support it and other developing countries with important natural environments,’ says Wayne.

Chartered accountants are perfectly placed to make those systemic changes within business,’ says Wayne. ‘They play a huge role in that they they can accelerate the process of companies becoming more environmentally responsible and sustainable.’ One of the first things they can do is to ensure that companies are taking the environment into account in a value creation story, as opposed to prioritising profits at all costs.

The second part is reporting: ‘If you report on something, it’s easy to be held accountable for your actions. At the moment we don’t have tools that are sophisticated enough to truly capture, report and hold companies accountable for their environmental impact. And that’s where our research will come in,’ says Wayne.

As an accounting student at Wits university, Wayne was taught by Professor Kurt Sartorius, and heard first-hand all the stories of what he describes as Kurt’s ‘Indiana Jones’ expeditions.

‘We grew up with Kurt being this adventurer, which was quite different and unique, especially in the modern context. There was always this thought that it would be amazing to do one of these expeditions with Kurt,’ says Wayne.

Wayne is an associate professor in the School of Accountancy at Wits University who is predominately a qualitative researcher in corporate reporting, with a focus on technical accounting. He is also busy with his PhD, where he is investigating the evolution of accounting drawing on concepts of biological evolution and dynamic systems.

When Wayne heard that the professor and his son, Ben Sartorius, were initiating a long-term climate change project that involved a 1 100-kilometre paddle down the Rio Madeira, a southern tributary of the Amazon River, to highlight the changes in the 50 years, he immediately reached out to Kurt and said he hoped it went well and started dropping a couple of hints that he wouldn’t mind joining the expedition, until Kurt eventually asked him if he wanted to come along. Of course, he was all in.

A dangerous feat with unforeseen challenges

The trio found out when they landed that their Brazilian guide who had been communicating with them in perfect English before the time had been using Google translate and could not understand a word of English. But they took that in their stride because Kurt could communicate with him in basic Portuguese. But even that proved to have it challenges.

Reports of pirates were another scenario.

’I was probably the most scared out of everyone paddling down the river, especially for the first week, ’says Wayne. ‘When we got there, we had received some news that there had been pirate attacks and saw first-hand hundreds of floating illegal gold mining dredges, and for the first 4−5 days every time a speedboat of any kind came at us, you kind of worried, are they going to do something. I would quickly hide the Go Pro cameras so that they wouldn’t think we were trying to document and follow them.’

The team had planned on stringing up tree hammocks to sleep in the jungle on the banks of the river at night, but because the river drops 50 feet in the dry season it was not possible to string up hammocks at night and they had to sleep on exposed sandbanks in the river. However, on one occasion after one of the canoes overturned at sunset the team of four had to paddle through the night tying the two boats together with one person paddling in the dark. The team narrowly escaped hair-raising and dangerous situations. Wayne recalled how at 2am one night he narrowly missed hitting a moving gold miner’s floating dredge in the dark. Another one time locals even quickly warned them to get out of the water they has been cooling down in because of stingrays and candiru (small barbed fish) that cannot be dislodged. Was it all in vain?

Although the climate change issue has been a much talked about subject at summits, conferences and even declarations being made that the carbon footprint will be reduced by a certain date, and despite their efforts to bring awareness, Kurt says people are still very apathetic and they did not receive the support they expected, even from well-established organisations who are supposed to be passionate about biodiversity.

‘Despite the very best efforts of Wits and the very best efforts of SAICA and all the programmes that we have launched, we have been largely unsuccessful in raising funds for the reforestation project. It’s enlightenment in terms of corporate South Africa. It’s what we saw amongst our CPA colleagues in Canada and Australia, that although it is a number one identified risk, people are still apathetic about doing anything about it,’ says Kurt.

Sartorius’ challenge makes up part of Wits’ centenary campaign. All funds raised by the expedition will go towards reforestation and research projects.

All donations will be administered by a panel of relevant experts on behalf of the Wits Foundation. Both scientific and business-related researchers can submit proposals for grants. Business-related research that accelerates developing the tools for companies to identify, measure and assure environmental impacts will be prioritised.

POINTS TO PONDER ON CLIMATE CHANGE:

Climate fundamentally affects business risk
Climate change is an integral component of ESG
All responsible companies should support climate change programs not only for the future of the planet but to ensure their own survival
Companies should support climate change because they cannot relocate their business to planet B.
If companies think the environment is unimportant they should try and hold their breath while counting their money.
If companies don’t show some compassion for the future of the planet no politician or even a magician can save it.
Companies should not use lofty climate change statements as their contribution to climate change but rather put their money where their mouths are.
Corporate responsibility is doing something for climate change not talking about it.
Saving our planet, lifting people out of poverty, advancing economic growth… these are one and the same fight and it is the duty of all companies to take up the challenge.

]]> A sisterhood of power https://www.accountancysa.org.za/cover-story-a-sisterhood-of-power/ Tue, 02 Aug 2022 12:17:35 +0000 https://www.accountancysa.org.za/?p=24631

Kovini Moodly (37) multi-hyphenate visionary, chartered accountant, and founder of Boss Babes South Africa grew up in a little suburb south of Durban called Shallcross. Her aim with Boss Babes was breaking barriers and changing narratives around women uplifting each other, as well as recognising and changing stereotypes that women of colour face daily.

Peace of mind is considered by many as the highest level of success you can achieve. Kovini Moodly believes is important to surround yourself with individuals committed to seeing you succeed and to celebrate yourself because no one truly knows what it takes to be you.

Kovini Moodly grew up in a little suburb south of Durban called Shallcross. She describes it as a nurturing and incredibly close-knit community. ‘In my early days, I drew inspiration from my parents, family, and the inspirational leaders around me who supported and motivated me,’ she remembers.

Passionate about accounting from her high school days, Kovini looked up to aspirational role models within her extended family and community who qualified as chartered accountants. ‘It paved the way for my dreams from an early age. I have always enjoyed impacting and helping people around me. Becoming a CA(SA) has allowed me to further extend myself within professional spaces to impact in a greater way,’ she explains.

Kovini is grateful for every year, every opportunity, and every challenge that helped shaped her into the formidable woman she is today. ‘Our greatest success in life is owning where we come from and how we choose to use it to shape our future.’

She believes completing her articles at Deloitte in Durban set the foundation for her professional career today. ‘In today’s world, CAs(SA) hold diverse portfolios and can lend their skills towards various ventures that can create economic growth and impact South Africa positively.’

After growing up in a small town, moving to a big city like Johannesburg was a huge adjustment for Kovini. ‘But it was also an opportunity to gain a new independent perspective and reflect on my goals and aspirations.’

Based on experiences of others as well as her own, Kovini feels that professional women in South Africa often have to manoeuvre through various challenges such as being undermined, fighting to be heard and experiencing the imposter syndrome (a psychological phenomenon whereby one doubts one’s abilities, skills and value).

Although she knows better now, Kovini was not immune to the effects of imposter syndrome in her earlier career days. ‘I would enter rooms and notice that there weren’t many people who looked like me, spoke like me, or were relatable in terms of their life experiences. It took me a while to own my unique power and feel safe enough to leverage it within large environments. ’It is so important that women who have secured “seats at the tables” make space for new leaders and utilise their voices to drive an impact positive change.’

Throughout her life, Kovini has been fortunate to have been surrounded by powerful female leaders who helped her build her confidence and appreciated her value add across her corporate journey. ‘Eleven years later, I feel comfortable to acknowledge that I am aware of my worth, appreciative of my journey, and optimistic about my future,’ she smiles.

Kovini currently heads up a dual portfolio for Discovery Health as the head of risk management and audit strategy optimisation. ‘The role has allowed me to experience the medical administration space and has further enhanced my risk and audit exposure across the past eight years.’

Before this position, Kovini specialised as an SME in various local and global roles that focused on centres of excellence implementations, cost-optimal models, and organisational design and process optimisation for leading JSE companies, with Accenture South Africa. ‘My colleagues often describe me as an out-of-the-box thinker and a big picture visionary. I have always enjoyed strategic projects as they allow me to impact and visibly affect tangible change.’

Creating a positive change in the world has always been a passion for Kovini, which is why she started the Boss Babes of South Africa initiative. ‘It is a digital skill sharing, inspirational platform aimed at celebrating female leaders,’ she explains. Ever since her younger years, Kovini has felt the desire to give back and serve the community and society in a greater, more meaningful manner. ‘Once I qualified as a CA(SA), I felt compelled to have an impact and share my learnings with others who would benefit from it. When we were heading into lockdown two years ago, I decided to create a digital platform where women could engage, support, and celebrate each other.’

Her aim with Boss Babes was to break down barriers and change narratives around women uplifting each other, as well as to recognise and change stereotypes that women of colour face daily. ‘Being authentic in sharing my own journey allowed others to also feel safe in sharing theirs and a sisterhood of power was formed.’

Being a CA(SA) and having worked at numerous large, leading companies in both South Africa and abroad, expanded Kovini’s perspective on life. ‘My skills in process optimisation, centres of excellence, best practices, and digital strategy helped pave the way for the Boss Babes platform. As a CA within any industry, resilience, integrity, and critical thinking are key attributes toward success. These elements and leveraging my experience assisted in creating an optimal operating model for the platform.’

Kovini hopes to create a sisterhood through Boss Babes – a sense of community where women are passionate about uplifting, supporting, and recognising each other. ‘As human beings, we are multi-hyphenate by nature. Being a multi-hyphenate is not about multitasking. It’s not about having 11 different tabs open. It’s more about dedicating your time to many things that reflect who you are and remembering that you are not defined by just one job title. We’re allowed to wear multiple hats, just not all at the same time.’

She has been astounded to observe the incredible women that have come onboard to selflessly offer their time and skills through mentoring initiatives, cross-skilling opportunities, and the various philanthropic ventures that Boss Babes support. ‘There is tremendous power when we choose to uplift each other instead of the opposite. I’m also an advocate of living a life of purpose and embracing my highest self through the journey of life. I believe you have to empower others in order for you to succeed in your professional and private life. Self-development and self-belief is also an important aspect of empowerment and development, especially in this era of constant change, technological advancement is critical.’

Kovini’s pearls of wisdom for other Boss Babes

It all starts with knowing who you are. This is the first and most important step to leveraging your authentic self in a way that matters and has meaning, not just for you but for the world and space that you occupy.
We are multifaceted human beings. We need to be open to embracing our passions and strengths. We also need to dispel the notion of single ‘streams of happiness’. Filling our lives with various activities and passions that set our souls on fire is the best way to live a fulfilled life!
Lastly, never fear! Chase your dreams. They are valid. There will always be naysayers along your path to success. Make sure that you hold onto your vision. Often it’s a vision that only you can see so believe in yourself until it becomes a reality. It will become a reality.

Female Leaders can join the movement by registering on www.bossbabesofsouthafrica.co.za.

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A child of the townships, Jeff van Rooyen rose above his circumstances through hard work, determination and opportunity.

Persevere. The ride is worth it! In this year’s Top 35-under-35 competition’s Develop category, judges were looking for an individual using their designation, skills, and training as a CA(SA) to influence and develop business.

I stand on the shoulders of giants The 2022’s Top 35-under-35 overall winner was Mathabo Makhaya CA(SA), group financial manager at Harmony Gold Mining (health) and chairperson of the Investment Committee Mineworkers Provident Fund (MWPF).

Fighting the good fight The winner of the Top 35-under-35 Influence category gets judged on how they are impacting people, and how they make a difference in not only their personal spheres of influence but also the impact they have on society.

Persevere. The ride is worth it!
In this year’s Top 35-under-35 competition’s Develop category, judges were looking for an individual using their designation, skills, and training as a CA(SA) to influence and develop business.

I stand on the shoulders of giants
The 2022’s Top 35-under-35 overall winner was Mathabo Makhaya CA(SA), group financial manager at Harmony Gold Mining (health) and chairperson of the Investment Committee Mineworkers Provident Fund (MWPF).

Fighting the good fight
The winner of the Top 35-under-35 Influence category gets judged on how they are impacting people, and how they make a difference in not only their personal spheres of influence but also the impact they have on society.