Two female CAs(SA) navigate Durban ICC to impressive financial recovery.
While the finance industry has traditionally been male-dominated, women have undeniably been making great strides, rising to the top and proving their exceptional worth in the financial arena. This has never been more evident than in the standout example of the Durban International Convention Centre (Durban ICC) where two female finance executives have been instrumental in driving the entity’s financial recovery following the pandemic.
Melanie Rambally CA(SA)
Melanie Rambally CA(SA), CFO of the Durban ICC, and Thenashree Naidoo CA(SA), finance executive, have been at the forefront of this achievement. With a combined experience of over 40 years in the finance industry, they have brought their expertise and passion to the Durban ICC, leading the finance team to new heights.
The Durban ICC, like many others in the hospitality industry, was faced with a significant challenge when the pandemic hit. The global economic downturn had a profound impact on tourism businesses and many companies were forced to make difficult decisions, including making severe cutbacks and even layoffs.
However, using their expertise in financial management, they helped the company make smart decisions, minimise costs and maintain financial stability. Their sustained efforts meant the entity was able to continue operations and avoid any retrenchments.
Not only has the state-owned company shown a significant upward trajectory in its recent financial performance, but the centre also excelled in its commitment to compliance and accountability. According to the latest audit opinion form the Auditor-General of South Africa, the Durban ICC incurred zero irregular, fruitless or wasteful expenditure in the past financial year. In addition, the entity just received its seventh clean, unqualified audit in the last eight consecutive years. This a truly rare and impressive accomplishment in the country’s public sector environment, which is often plagued by non-compliance and maladministration.
Rambally and Naidoo’s contributions to the company’s financial recovery have not gone unnoticed. The company’s senior management and board of directors have praised their hard work, dedication and leadership. They have been recognised for their ability to balance the need for financial discipline with a commitment to the well-being of the company’s employees, even during the most difficult of times.
Rambally’s experience in financial management has been critical in ensuring that the entity operates efficiently and effectively. Her ability to identify areas for improvement and implement change has been instrumental in the success of the centre.
Thenashree Naidoo CA(SA)
‘Prudent decision-making is an important part of my role as CFO and one that I take extremely seriously. I always try to act in the best interests of all our stakeholders and make decisions which ensure the continued financial sustainability and viability of the entity,’ says Rambally. ‘I am grateful for the support of our board led by Mr Glen Mashinini, the Chair of our Finance Committee, Dr Mdu Bophela, our CEO Ms Lindiwe Rakharebe, and the whole finance team.’
Naidoo, on the other hand, has brought a wealth of experience in financial reporting and analysis. Her ability to analyse data and identify trends has been invaluable in ensuring that the convention centre is financially healthy. ‘I have always been passionate about finance and helping organisations achieve their goals,’ she says. ’I am proud to be part of a team that has delivered such outstanding results and I am excited about the future of the finance department.’
In conclusion, the recent financial recovery of this company is a testament to the talent and dedication of its female finance executives. Thanks to the leadership and expertise of Melanie Rambally and Thenashree Naidoo, the Durban International Convention Centre can look forward to many more years of outstanding performance from this dynamic duo.
