Sithembiso Freeman Nomvalo’s tenure as SAICA’s CEO has been defined by a series of transformative accomplishments that have solidified SAICA’s position as a vanguard institution in the accountancy profession. Nomvalo’s leadership has been synonymous with a commitment to value creation, resilience and a staunch dedication to serving the profession.
Having joined SAICA at a time when the profession’s credibility was on an undeniably steadfast decline, Nomvalo ushered in an era of relentless focus on trust reconstruction. One of the fundamental priorities during his tenure was to create and safeguard the value of the CA(SA) brand. Under his guidance, SAICA progressed in its mission to hold errant members accountable for any breaches of the professional code of conduct, demonstrating a commitment to upholding ethical standards within the profession, bolstering the profession’s reputation and instilling confidence among stakeholders.
Driving member value and global recognition
The CA of the Future initiative, a cornerstone of SAICA’s strategy, made significant strides under Nomvalo’s guidance. This initiative was aimed at transforming curricula, teaching methodologies, and assessment protocols across educational institutions and professional development programmes. The initiative was instrumental in adapting members’ skills to meet future demands, fostering a culture of lifelong learning and development through a plethora of events and networking opportunities, enhancing members’ skill sets and relevance in the rapidly evolving technological landscape that all accounting professionals have become predisposed to.
Nomvalo’s commitment to global partnerships expanded SAICA’s reach and influence. It was during Nomvalo’s time that SAICA launched the South African of the Year Living in Australia awards, which are due to recognise the contributions South Africans are making in Australia.
Ushering in technological advancements
SAICA’s leap into the digital realm was a testament to Nomvalo’s commitment to technological advancement. The Ushintsho digital transformation project, a flagship initiative, was a groundbreaking endeavour that revolutionised internal processes, member interactions and service delivery. Its phased implementation enhanced member experiences and operational efficiencies, setting the stage for a digitally integrated future while saving costs for the institution.
Rejuvenating human capital and promoting engagements
Beyond these strategic achievements, Nomvalo exhibited a servant leadership style, recognising the pivotal role of SAICA’s human capital. Alongside an incredibly dedicated team, he worked to rebuild the institute’s human resources and acknowledged the impact of reputational challenges on staff morale, which subsequently had a dire effect on talent retainment.
Initiatives to measure and improve employee engagement, such as engagement surveys and management deep dives, showcased his dedication to a cohesive and motivated workforce. SAICA commissioned a staff engagement survey to measure the levels of emotional engagement of our employees with a focus on key drivers of engagement in the workplace. The results of the survey form a baseline against which SAICA measures itself.
It is important to recognise the critical role Fanisa Lamola, our COO, played as Acting CEO during some of the most challenging months in the institute’s existence. That she did such a good job of holding everything together in the face of these challenges and despite limited resources, while maintaining her positive outlook, is a testament to her character and competence.
His appreciation for staff members and the profession is clearly evidenced by his responses. When asked what his key achievements were during his tenure, he had the following to say: ‘I guess it’s got to be the recognition in the 2023 Edelman Trust survey where as an institute and the profession in South Africa we regained our top spot in the world. This survey reveals that the trust in the CA(SA) designation improved from 81% to 96% and the trust in SAICA as an institute from 78% to 90%. Contesting the top spot has got to be transformation in the profession: this year 63% of the qualifying candidates come from African, Coloured and Indian communities, up from 53% five years ago. SAICA’s B-BBEE status has moved to Level 2, improving from Level 6 in 2019. The digitisation project was limping a few years ago and now it is on course and will be delivered at significant cost savings.
This of course is the outcome not just delivered by me but by all at SAICA who fly the flag of the profession including SAICA members daily.’
Navigating crises with resilience and championing ethical standards and integrity
Nomvalo’s tenure witnessed SAICA’s robust response to crises. During the tumultuous times of economic downturns and global uncertainties as a result of the COVID-19 pandemic, SAICA stood by its members, offering guidance and support in the form of the SAICA business rescue programme, and digital transformation to ensure uninterrupted service delivery.
Nomvalo’s tenure emphasised upholding ethical standards within the profession. SAICA’s concerted efforts to hold members accountable for breaches in professional conduct and the implementation of refined disciplinary processes underscored the institute’s commitment to ethical integrity.
As SAICA prepares for a transition in leadership, the legacy of Sithembiso Freeman Nomvalo remains entrenched in the institute’s resilience, unwavering commitment to value creation and a profound emphasis on servant leadership. His tenure will be remembered as a period of transformative growth, fortifying SAICA’s position as the leading institute in the accountancy profession.
Author
Robert Zwane, Executive Director: Learning and Development at SAICA
