Cover Story – TOP 35-UNDER-35: Overall winner 2022

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