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ZIZIPHO NYANGA - Masisizane Fund CEO Deliberate about difference
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www.theafricanpro.com
TABLE OF CONTENTS
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Editorial
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Zizipho Nyanga - Masisizane Fund CEO
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Peter Goss Crisis Management, Corporate Governance and Forensics
12 Changing ownership of the SA Reserve Bank 14 Who is Bobi Wine? 2
16 Brian Richardson - CEO of Wizzit 18 Chris Baloyi - CEO of Bosch Capital 24 Clifford Livingstone - Managing Partner of PKF Octagon 26 Aurecon’s Dr. Eduard Vorster 30 Deloitte’s Thiru Pillay 34 Trevor Noah is right - People can be both French
and African
37 Land Reform 42 Zimbabwe’s election
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EDITORIAL
SPRING HAS SPRUNG! recently founded to help others with corporate reputation, a role targeted at serving in a role like that of senior legal counsel and taking on niche top-end, complex, boardroom level assignments in corporate governance and crisis management (including governance forensics such as matters involving corporate collapse and public sector illicit conduct).
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ur platform seeks to interact with African Professionals and Entrepreneurs. The publication recognises business excellence and honours enterprises that promote the spirit of success, innovation and job creation. In this issue, we feature CEO at the Masisizane Fund Zizipho Nyanga, a non-profit organisation. The fund is an Old Mutual initiative that was established in 2007. The fund is meant to give hope and dignity to the people of South Africa including those living in villages and rural areas, particularly the disadvantaged and marginalized, to put food on their tables – helping them to create sustained businesses, and not just be consumers. We speak to Co - Founding Director and CEO Brian Richardson of WIZZIT International, a global pioneer in mobile banking and financial inclusion.
We had the pleasure of speaking to Chris Baloyi, Managing Director at BOSCH CAPITAL, established in 2014 as a transaction advisory company. It is a subsidiary of BOSCH HOLDINGS, the multidisciplinary engineering group formed in 1961, with a presence in South Africa, Kenya, Brazil and the UK. Bosch Capital’s primary offerings are threefold: provision of corporate finance advisory and capital-raising solutions for its clients, as well as facilitating investment solutions for the group. All of these African Professionals are sharing their personal, professional and entrepreneurial journeys with our audience. Remember that our quarterly printed publication is available nationally in South Africa and is read internationally via a full digital edition on our website. Enjoy the read!
MZUKONA MANTSHONTSHO Publishing Executive
Publisher: The Proud African Professional (Pty) Limited Reg. Number: 2010/012428/07 P.O. BOX 4935, Randburg, 2125 Republic of South Africa Tel: 067 044 5225 www.theafricanpro.com Director: Carol Malonza – carol@africanpro.co.za Twitter: @mueni8 Managing Editor: KC Rottok – kc@africanpro.co.za Twitter: @africankc Publishing Executive: Mzukona Mantshontsho Edition Writers/Contributors: Jannie Rossouw Jimmy Spire Ssentongo Dr. Edward Ademolu Roger Southall David B. Moore Photography: Mzu Nhlabati www.creativenation.co.za Design: Kelele Communication Website: Drutech Media www.drutechmedia.co.za Advertising Enquiries: info@africanpro.co.za To subscribe or contribute an article, email us at info@africanpro.co.za All rights reserved. Excerpts may be used as long as this magazine is credited as the source. Longer versions of our content may only be used with the written permission of the Publisher. Neither the publisher nor the editor accept responsibility for any information from edition writers or contributors. Whilst we have taken care in preparing this publication, the publisher/ editor does not warrant its completeness or accuracy. The editor retains the right to edit all contributions. Advertisers are responsible for their material. © The African Professional / The Expatriate SA: ISSN 2218 – 757X.
We speak to Peter Goss from PETER GOSS (Pty) Ltd – Crisis Management, Corporate Governance, Forensics www.theafricanpro.com
Deliberately wake up to make a difference in people’s lives – Zizipho Nyanga! By Mzukona Mantshontsho
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The MASISIZANE FUND is a nonprofit organisation. The fund is an Old Mutual initiative that was established in 2007. The fund is meant to give hope and dignity to the people of South Africa including those living in villages and rural areas, particularly the disadvantaged and marginalized, to put food on their tables – helping them to create sustained businesses, and not just be consumers. The Masisizane Fund provides enterprise development to small, medium and micro enterprises through two core channels: Development Finance and Business Support. The African Professional Magazine spoke to CEO at the Masisizane Fund Zizipho Nyanga (nee Mqwala) about her personal, professional and entrepreneurial journey. Zizipho sees herself as an individual who deliberately wakes up everyday to make a difference in people’s lives. 4
Tell us about your early life; academic, professional development to your role TODAY I excelled in Mathematics and Accounting in high school and got an award from a black owned accounting firm in Umtata in the Eastern Cape, where I grew up, for being a top performer in accounting, that was exciting. I loved making money from an early age, I would sell anything and everything at school to make money. Grinaker LTA came to my rescue with a bursary in my second year of completing my BCom degree at the (former) University of Transkei and later I completed my Higher Diploma in Accounting from Wits University. After graduating I joined Ernst & Young (EY) as a trainee and later qualified as a Chartered Accountant. I got global work exposure when I was seconded by EY to the San Jose office in California, and I got exposed to the entrepreneurial culture and that grew my passion for rural development and economic
transformation. I had a stint as Financial Manager at Kagiso Media, started my own business and worked at EY as a Senior Manager and at the IDC as a Deal Maker. In these roles I gained experience in business support, entrepreneurship, deal making, financial management, auditing, risk advisory and internal control improvements from numerous firms and industries. What does the role of being the CEO at Masisizane Fund mean to you? The role means people have confidence in my leadership ability; there is recognition of women and black excellence regardless of one’s background. I have a very important role to play in creating access to funding for small business; therefore I need to work closely with those that have a similar mandate to make meaningful impact. Maintaining strong and effective partnerships with institutions like SEFA, Productivity SA, SEDA, SAICA and the Department of Rural Development amongst others is very important in ensuring maximum impact to the SMMEs I serve. You have had several professional achievements please list them and indicate which one stands out for you and why? I remember taking the leap of faith and going into business, although I got my fingers burnt, the lessons learnt have made me the person I am today to understand, empathise, and relate with the business owners we deal with daily. The experience helped me understand failures and successes and embrace them gracefully. The time I spent at IDC was an important part of my career in terms of understanding the Development Finance space. My current CEO role at Masisizane Fund stands out for me as it has aligned what I do at work every day with my personal purpose – it’s probably the biggest role in my career thus far, but I am passionate about it and it is definitely a HIGH! www.theafricanpro.com
Have you had any challenges as a woman professional that you think differ from your male counterparts? How have you tackled them? Women carry a lot on their shoulders as home-makers, nurturers and professionals. My attitude is that the pull-her-down syndrome will be there in the workplace from women and men, surround yourself with the right people, play on their strengths and weaknesses once you understand them. I have managed to get mentors for different things: I associate with those fatherly and motherly characters that become my parents. I have business leaders, women and men, who keep my entrepreneurial spirit burning. I have peers and friends who help me not to take myself too seriously, I am able to let my guard down, given the trust, love and loyalty we have for each other. More importantly, I had a warmhearted and frank conversation with my husband that I would not pretend to be a superwoman anymore, thankfully, he wasn’t looking for a superwoman in me, the load was lifted off my shoulders and I was able to be at peace with my roles at home and work. What are you currently working on and what can we expect from you going forward? We have never been more relevant in the market than we are currently, as we are able to tap into supply and enterprise development and make meaningful impact, we are making significant strides in the Agribusiness value chain, South Africa is building Black Industrialists that will drive creation and not just consumption – ours is to collaborate with the right partners and identify the right businesses to scale up – we need to scale up business owners to be fully fledged manufacturers of all races rather than merely trade finished products. What initiative (if implemented) would leave the greatest impact for you and for Africa as a whole?
Old Mutual has come back home to Africa. The African continent is not coordinated in terms of growing together economically and a successful SMME development could help unlock value for African countries. Diversity and inclusiveness is key – how do we learn from one another to grow; red tape should be less stringent and encourage trade amongst African countries. Our import and export treaties should allow for better trading. What would you change if you had all the powers in the world? Eradicate poverty. Poverty is like a disease, you are either lucky to get out of it or you are stuck in there like mud. Let us remove the narrative that poverty equals black people, our history still holds us back, let’s change that – change the mindset to be creators of our wealth and destinies and not just consumers. What would you say are the most critical resources for your successful
leadership? How would people describe you as a Leader? I’m approachable – I’m soft and strong at the same time, so it’s a bit of both, as long as my team does what needs to be done, I am happy. Identifying the right talent to be aligned with the organizational mandate is critical. No one is strong at everything, I believe we all have strengths and weaknesses. I focus on the strengths that each and every one of my team members bring in order to achieve our goals. I believe that I must give clarity of what is expected of my team always, co-creation is vital as all solutions can’t come from me. The passion I have for what I do determines the energy I get back, energy is important for me – I need the right energy around for us to succeed as a team. What is the legacy that you would want to leave by the time you retire? Mine is to light candles wherever I go, I want to be thinking ahead for our www.theafricanpro.com
future generations, the dignity of a black child should be protected with all we have, let us help our people not to be dependent on government for handouts and grants. Education is the one thing that can never be taken away from us, therefore I would like to contribute towards education initiatives for people that may not have had the opportunity to go to school. Our culture and traditions as black people must remain intact – our children should know it’s okay to be black and not be shy about following their culture and traditions, they should be proud! How do you strike the balance of career, business and interpersonal skills? I’m attentive. In as much as I have an opendoor policy and feel I am approachable, I have frank conversations with my team in terms of behavior and the expected outputs so as to meet our organisational targets. I am also a believer in the words of Social Commentator Jane Oliver when she says: “Human elements are
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important and should be dealt with before we look at work”. The health and wellness of our team is a priority to me if you are not happy at home, it becomes evident in the work you deliver at work. I assist wherever I can in collaboration with our Human Resources division, anonymously, to avoid any perceived prejudice. How has the company done in terms of business growth objectives?
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Being an NPO, our success is measured by the amount of development impact we make with the budget we have been allocated. The developmental impact we make determines our existence, how we manage our costs, how many jobs are created. The testimonials at our recent 10-year celebrations were a vote of confidence in the work we do by the clients we’ve funded to date. The business growth objectives also include the amount of leveraged funding we’ve managed to get since inception. Partnering with likeminded institutions has enabled us to achieve measurable impact in the areas we operate in. How do you maintain ethics, integrity and professionalism? You don’t have to bribe me to do what I am obligated to do. I am passionate about helping entrepreneurs get access to funding and business support. We have clear and concise systems in place to deliver – conflict of interest from our team in the projects and transactions we do have to be declared upfront so that our integrity and ethical conduct is not questioned. How do you participate in mentorship, if you do? Mentorship is both formal and informal in that daily I am empowering and encouraging our people to be the best at what they do, given our target grids – my principal goal is to have a well thought out succession plan involving our team to sustain the role of the Masisizane
Fund – giving hope and having an allinclusive and comprehensive funding model for the people of South Africa. How does the company contribute to the community? We are funding people in the remote and most rural areas of the country who wouldn’t ordinarily gain access to funding from the commercial banks – we creatively package their proposals, so that they get funding.
with. My highlight was the appointment to the position of CEO at Masisizane Fund after a short while of joining the organisation, which is a story of belief, faith, hard work and embracing black excellence. During my time at the helm of the organisation, the highs would be the 10-year celebrations of Masisizane Fund’s existence last year, where we had our clients sharing how their lives had changed because of receiving our assistance, that was heart-warming. What awards has the company won?
How is the company doing in terms of Transformation objectives? Masisizane Fund provides funding to 51% (or more) black owned businesses. The funding provided is biased towards benefitting women owned businesses, the youth and people living with disabilities. What makes you tick or keeps you awake at night about your position? Are we relevant, outward and forward looking enough in terms of the impact of our organization to the people we assist. How are our constant engagements with stakeholders and beneficiaries – are we innovative enough to get through to the people in remote areas who need the services we offer? I worry about staff: are they too stretched to deliver on all aspects of our mandate – are we using our resources enough to constantly improve the lives of our people, particularly the previously disadvantaged and marginalized. Are our people satisfied in terms of their jobs and how is Masisizane Fund perceived by the people we fund – are we getting ambassadors by word-of-mouth. What have been the highs and lows in your working career? I’ll start with the lows: I remember not being paid for two months when I embarked on my entrepreneurial journey and things didn’t work out with the partners I had collaborated www.theafricanpro.com
The impact we’ve made to people’s lives is rewarding enough for me and the team at Masisizane. Masisizane Fund Awards: • Governance Cluster Award Masisizane Fund has won an award in the category of: Win Together – Help Others Succeed, • African Leaders Change Awards 2017 - Masisizane Fund has won an award in the category of: African Leader in Rural Development, • SIFE South Africa 2010 - Silver Sponsor Recognition – Masisizane Fund, • SIFE South Africa 2009 - Gold Sponsor Recognition – Old Mutual, and • SIFE South Africa 2008 - SIFE SA Supporter Recognition – Old Mutual. When you not at work, what do you get up to, including family life, where can people follow you online? I value my quiet time with my husband and two boys Lwando and Kuhle, 13 and 7 years old respectively. I’m currently reading ‘The Year of Yes’ by Shonda Rhimes and thoroughly enjoying it. I love taking time away with family and friends, even going back home in the rural areas of the Eastern Cape to enjoy the tranquility there and go to church for my spiritual upliftment. I am on Instagram, Facebook, and LinkedIn as Zizipho Mqwala Nyanga.
MASISIZANE FUND The Masisizane Fund (NPC) is an initiative of Old Mutual South Africa, established in 2007 following the closure of the Unclaimed Shares Trust. The mandate of the Fund is to contribute meaningfully to employment creation, poverty eradication and reduction of inequality, economic growth and the attraction of investment. This is achieved through the promotion of entrepreneurship, enterprise finance and support to small, micro and medium enterprises. The fund’s focus is on enterprises that are 51% or more owned by previously disadvantaged individual(s) giving priority to rural and peri-urban/township areas. Masisizane gives preference to businesses that are owned by youths, people with disabilities or are owned by (51% or more) women and targets productive and labour absorbing sectors. The Fund’s success is driven by a focused approach on high impact industry sectors, coupled with a comprehensive SMME finance solution that includes business support. The Fund provides loan finance in the following sectors: Agribusiness Franchising Supply Chain The Fund supplies non-financial value adding post investment services including capacity development, business management and technical support, financial education, market development and product/ service quality standards and compliance. A Business Accelerator Program has been established where potential clients receive targeted skills training and support to grow into a business eligible to receive financial support. Masisizane operates nationally with its head office in Gauteng and regional offices in KwaZuluNatal, Limpopo, Eastern Cape and Western Cape. Submit the following documents for an initial screening by the relevant provincial office: • Comprehensive business plan with market analysis and projections; • For established businesses – past financials (preferably 3 years) and latest management accounts; • For start-up businesses – financial projections; • Tax clearance certificate; • Off take agreements and/or letters of intent; • Signed consent for a credit check. Contact details: • Gauteng, North West and Free State − 011 217 1746 • Western and Northern Cape − 021 509 5074 • KwaZulu-Natal − 031 335 0400 • Eastern Cape − 043 704 0116 • Limpopo and Mpumalanga − 015 295 9741
For more information and where to find us visit www.masisizanefund.co.za An initiative of the
Old Mutual is a Licensed Financial Services Provider
Group
‘Don’t wait for the stars to be properly aligned, line them up yourself ’ – Peter Goss!
By Mzukona Mantshontsho
to Newlands East and other townships. I started high school in Newlands East, Natal and finished Matric 5 years later in 1984, fortunately top of class. My parents’ terms of reference were: “Once you pass Matric, you’re ready for life”. My dad got to Junior Certificate – Standard 8, and my mother hardly finished a year or two of schooling. I’ve never quite gotten a clear answer when I ask. She does not read or write.
PETER GOSS (Pty) Ltd – Crisis 8
Management, Corporate Governance, Forensics was founded to help others with corporate reputation, a business targeted at serving in a role like that of senior legal counsel and taking on niche top-end, complex, boardroom level assignments in corporate governance and crisis management (including governance forensics such as matters involving corporate collapse and public sector illicit conduct). The African Professional Magazine spoke to Founder and Director at PETER GOSS (Pty) Ltd about his personal, professional and entrepreneurial journey thus far. Tell us about your early life, professional development, how was your training? My upbringing and primary schooling was in a rural area called New Farm, near Mt Edgecombe in the old Natal. The Group Areas Act forced a separation of our multi-cultural community in 1977 to 1979 with Africans going to Kwa Mashu and other areas, Indians to Phoenix etc. and my community (coloureds) going
I went straight to work in 1985 as a Kardex Clerk with Lever Bros (now Unilever) where my dad was a clerk for 30 years. In 1986 I studied (or should I say I tried) Analytical Chemistry at Natal Technikon and dropped out in the second semester. I joined the SAPS in 1987 and from there I reckon I found my feet after “Passing Out” (Graduating) from Police College at the end of the year. By 1989 I found my way into the Detective Branch and served until 1995, leaving as a Detective Warrant Officer (Fraud Unit, Commercial Branch) and securing a correspondence (distance education) qualification from Technikon SA, a 3-year National Diploma in Police Administration: with Investigation of Crime I, II, III and Law of Evidence I, II, III; Criminal Law; and Criminal Procedure being ‘major’ subjects for all three years. I reckon I’d ascribe a major part of my early career growth (the first 12-odd years) to lessons learned as a police detective, and to lessons learned in the role of KZN Chairman of the Police and Prisons Civil Rights Union (POPRCU), struggling with an Apartheid-era police force. I recall we www.theafricanpro.com
succeeded in reversing the manipulated dismissal of some 50 black “Kits Konstabels” (Special Constables) for allegedly being HIV positive. The old police force manipulated blood test results to show HIV positive and unscrupulously fired them. I was recruited by Eskom in 1995 as a Senior Advisor in Corporate Investigations and this is where my Forensic Investigator (or some prefer Forensic Auditor) career began taking on a corporate consultant trajectory. From Eskom I left 4 years later in the role of Acting Chief Investigator (Chief Advisor), being recruited by a Big 4 Auditing Firm in 1999 – the largest in the world at the time. I stayed for 14 years at the international Firm – serving 11 years as a director/ partner between 2003 and 2014. Some more senior colleagues have told me I may have been the only person in memory with a National Diploma to reach such a level. I worked my literal butt off to prove my skills, knowledge and competency. All I can ascribe my academic lack of progress to, back then, all the way until 2012 was a lack of commitment to studies. Notwithstanding that weakness though, I had no lack of focus on building my personal brand and positioning as an authority in the Forensics profession. Notable was my appointment in the role of expert forensic auditor to the national high profile four-man expert panel assessing the prosecution case against Police Commissioner Jackie Selebi in 2007. I’ve led several forensic audits and investigations into other matters of national interest such as the
award of the R10 billion third cellular network service provider contract alleged corruption case, and a USD 1 billion fraudulent misstatement case in the energy sector.
and about 100 written, talk show and televised media commentaries. My writing, including my 3 books have been a deliberate effort at personal ‘expert’ positioning.
In 2012, I felt I’d exhausted my growth trajectory in the international Big 4 Advisory Services environment and decided to roll up my sleeves and balance my study/academic credential deficit so that I could be more marketable.
For example, I launched my second book, Fraud and Corruption Risk Governance in 2016 in Las Vegas, USA at the Global Conference of the Association for Certified Fraud Examiners and in 2017 my Corporate Governance and Illicit Conduct book launched at the iconic CFO Indaba hosted by the CFO Forum. Having exhausted my capacity on the corporatised consulting and advisory treadmill, I recently decided to start my own company, PETER GOSS (Pty) Ltd – Crisis Management, Corporate Governance, Forensics and am having a ball being away from corporate politics, peer-to-peer competition and related mischief. My goal crystallised over time to what I saw as the ultimate consulting context, a role targeted at serving like senior legal counsel and taking on niche top end, complex, boardroom level assignments in corporate governance and crisis management (including governance forensics matters involving corporate crisis and public sector illicit conduct). I also have an interest as Executive Chair of a data analytics company, Kettle Consulting, that has been around for over 11 years. This completes the loop of my solutions set. No advisory company can exist without a digital and data management capacity. My niche, complete high-end business approach is what we call “grey-haired” consulting modelled along the lines of similar international boutique Firms.
In the 6 years between 2012 and 2017, I finalized a Post-Graduate (hons levels) bachelor’s Degree in Forensic Investigations, a master’s Degree in Criminal Justice (specialising in governance and anti-corruption) and wrote three books, each of which is well received in the RSA market. I lecture each of my books in programmes at University of Johannesburg (UJ) and University of Pretoria (UP Enterprises). I’ve been lecturing part time for 19 years at UJ. My most recent book published in 2017 is titled: Corporate Governance and Illicit Conduct. While writing it I did the first 100 pages towards a PhD thesis (also started in 2017) focusing primarily on corporate governance. Career-wise, I grew in the last 15 years from the level of Director (heading Fraud Risk Management) to industry Managing Director for Forensics when I left my international employers in 2014 to join a top 6 professional services Firm, the largest indigenous black African firm, where I became the national Managing Director for Forensics and then the Managing Director (Advisory and Consulting), and EXCO leader, for the 200-person, 20 partner practice. What does the role of Founder mean to you at PETER GOSS (Pty) Ltd? I’ve always paid a great deal of attention to my personal branding and positioning in the Southern African market, with a spattering of travels by invitation as an expert outside of Africa. This includes over 150 lectures, over 150 conference presentations (locally and abroad)
Starting a company and leading it as MD has unleashed my entrepreneurial strengths and expanded my interest in serving in Board and Governing Body roles. I serve in an executive and non-executive member role in several corporations, including serving as Chairman of the Nominations Committee in the largest medical scheme in Africa. I run a publications company, Goss Forensic Publications; have an interest in Glasshouse Communications www.theafricanpro.com
and Public Relations, which fits squarely and serves as the channel for my crisis management service offerings where we assist with corporate reputation and media relations in partnership with one of South Africa’s top (also “grey haired” but he shaves it) well-networked journalists; and, finally, I have an interest in Agency for Corporate Governance, a company focusing on AGM and board appointments, elections and company secretarial solutions in which my son (23) and daughter (21) are Directors. What would you like to have achieved by the end of your career? My goal has always been to be an authority in my profession and this effort keeps evolving. The latter has transformed over time into what many now call a corporate governance expert, considering that my recent book on the subject, my service in the role of pastchairperson of the Institute of Directors (IoD) Corporate Governance group (public services); having developed a corporate governance hub in my last major consulting firm where I was MD (Advisory); being a regular board advisor and executive and nonexecutive member; being a regular lecturer at academic institutions and business schools; and providing radio, televised and written media analysis on current affairs involving corporate governance, crisis, anti-corruption and illicit conduct. How would you describe your management and leadership styles? I enjoy helping people develop but I suspect I lead a little too much from the front. My motto is “Don’t wait for the stars to be properly aligned…line them up yourself ”. It seems to be working, albeit I work hard on more patience and working alongside colleagues as opposed to mostly from the front. What makes you tick or keeps you awake at night with respect to your position as Founder?
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Two things make me tick. Passion, love for and an obsession with never stopping with personal development; and the desire to be relevant and consulted for prac-ademic (practical and academic) wisdom way into my 70’s. I’ve a busy mind and am a bit of a perfectionist, so I reckon I beat myself up a little too much when faced with negative feedback. Of course, that leads to a sleepless night or two and the need for a sleeping pill occasionally. But, I bounce back like a literal demon and confront adversity with a “passion to fix” and energy second to few. Never, ever be defensive…always admit to errors…apologise unreservedly and confront and fix your mistakes. This makes you grow wiser with every slip you make along the way. One thing is assured, you WILL see failure – many times in a career – but winners ride the rough times and offset them with good deeds. How do you take part in mentoring others?
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Lectures, public speaking, and my business engagements also involve professional mentoring. Alongside this research, writing and speaking are opportunities to share my evolving thoughts and wisdom with my peers and aspiring professionals. If you had to relate a couple of experiences, what would be the highs and what would be the lows of your working career? The late Commissioner Jackie Selebi expert review panel, added to becoming a director/partner in the world’s largest international big 4 Firm (at 33 yrs old), then serving as the Managing Director (Advisory and Consulting) and lead expert in corporate governance in our largest professional services Firm of an indigenous nature. The lows have always been my difficulty in managing internal corporate politicians in the workplace – people who play games and play the man. They can’t keep up with the pace, they can’t show their true value, so they spend negative energy trying to poke holes in the work of the real high flyers.
The converse is what I absolutely LOVE and wakes me every morning saying, “What a rewarding career”. I love my new path of entrepreneur, business leader, game changer and expert in my game; my career and trajectory going forward belongs entirely with me giving value to my clients, business partners while learning from and developing with my fellow professionals, locally and internationally. What accolades have you received recently? I received a unique extraordinary award at the 2018 Professional Services Awards from South African Professional Services Awards. This was for growth in my career to MD, academic efforts and writing; in sum – literally a reward for most of the self-development and skilling, prac-acdemic professional habits I’ve tried to develop throughout my career. Really rewarding and encouraging and I can’t thank SAPSA and their judges enough for the recognition. It was most unexpected and not something I ever targeted. I don’t celebrate accomplishments well; but for others to see one’s hard work is great reward. How will the firm make sure it achieves its business growth objectives? I’m conflicted between working on staying the senior counsel-type expert advisor and scaling up into a corporate complex business. I’ve decided not to look too far ahead for the very short term. Come early 2019 though, I suspect things will move up a couple of aggressive growth gears. I bite my tongue and work on patience – letting things happen a little, with gentle touches to direct the path of course – FOR NOW. Through what means will the organisation ensure that the firm maintains elevated levels of ethics and integrity? Our business is founded on helping others with corporate reputation. Our www.theafricanpro.com
very existence makes professional and institutional integrity a non-negotiable imperative for our own sustainability. Is transformation considered a key objective at the firm, and if so, how will it be attended to? We are entirely black as a team compliment, but we have diverse expert associates from all backgrounds. I prefer to transform minds, to transform the mind from entitlement to a mindset of graft for success, to empower but be self-empowered. Kindly highlight some recent contributions by you to the community and to the relevant professions your professionals are a part of. A professional body has recently asked me, and we completed, the development of digital training for their thousands of members. Added, contact training of professionals (young and mature) will always be central to my approach to business and prac-ademic nature. How will the firm ensure that professionalism and good customer service are upheld? By delivering top end expert quality services and being as hands-on as possible in the short to medium term and then scaling that with high-end skilled specialists. When you not at work, what do you get up to and where can people follow you online? I’m extremely active on social media, particularly LinkedIn. I really enjoy shopping for clothing, a good movie and keeping in decent shape by swimming and eating well. I still have to find a real hobby though. I tell my wife its writing and reading technical material that are my ‘hobby’, but I agree when she says: “…THAT’S NOT A HOBBY … YOU NEED TO FIND A HOBBY TO RELAX”. I promise I will!!!
THE 4TH ANNUAL SA
PROFESSIONAL SERVICES AWARDS
MONTE CASINO BALLROOM, 14 MARCH 2019 WHY TAKE PART? Measure your performance • Gain highly valuable media and PR Exposure Impress potential new clients • Raise your profile and create awareness Network with fellow professionals • Recognise the professionals in your firm Attract top talent • Promote your profession and its values Firms of engineers, accountants, architects, project managers, quantity surveyors, management consultants and lawyers are invited to participate. Visit www.saproawards.co.za for further information or contact us on 067 044 5225.
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CHANGING OWNERSHIP OF THE S.A. RESERVE BANK Jannie Rossouw (The Conversation)
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South Africa’s second largest opposition party, the Economic Freedom Fighters (EFF), has lodged a parliamentary motion to amend laws that govern the management and ownership of the country’s central bank. Judging by the content of the South African Reserve Bank Amendment Bill the EFF is clearly intent on upping the ante on economic policy ahead of the national elections in 2019. The amendments come hot on the heels of the party pushing for the expropriation of land without compensation. The EFF was formed five years ago after it split
from the African National Congress, positioning itself on the left of the political spectrum. The EFF on its own won’t be able to affect the Reserve Bank change given that it only has 25 MPs in parliament. But the ANC has also thrown its weight behind the idea, adopting a resolution at its national conference last year to nationalise the South African Reserve Bank. It’s not the call for the nationalisation of the central bank, per se, that’s raising concern. It’s how its been dressed up www.theafricanpro.com
by the EFF and the prevailing political environment. What the EFF wants to achieve is control of monetary policy by politicians. This would be dangerous for South Africa. Experiences from other countries that do this, like Zimbabwe and Venezuela, are not good. They are all economic basket cases. The fact is that a change of ownership of the South African Reserve Bank would not in and of itself be a disaster. Most central banks in the world have a share ownership structure that has the state
as the majority, or only, shareholder. The South African Reserve Bank is one of only eight central banks in the world with private shareholders. But this does not equate to politicians running central banks. There are governing structures in place that ensure that central banks – even if the majority shareholder is the state – are free to implement monetary policy without political interference.
To change this focus would require a change in the constitution.
Ownership isn’t the point
Their powers are limited to electing a minority of board members, the right to attend the ordinary general meeting of the central bank where they also approve the minutes of the previous year’s meeting and the annual report of the bank, and the appointment of the external auditors.
South Africa’s central bank has come under attack over the years. Many of the attacks have come from the left – within the ruling party and its allies the Congress of South African Trade Unions and the South African Communist Party. The unhappiness has revolved around the role of the South African Reserve Bank – particularly its focus on keeping inflation under control by sticking to an inflation target – and its perceived failure to inspire economic growth. These concerns are now being manifested in the debate about the bank’s shareholding structures. Unfortunately, the debate is informed by the mistaken view that private shareholders affect monetary policy. The corollary is that nationalisation would give the government, as the major shareholder, control over central bank policy. Both assumptions are wrong. Even though South Africa’s Reserve Bank has private shareholders, they have absolutely no say over monetary policy. Similarly, the state doesn’t dictate monetary policy in the vast majority of central banks that have governments as their major holders. What this means is that changing the shareholding of South Africa’s bank won’t change the way the bank is run. The bank main mandate – to keep inflation under control – is in fact anchored in the country’s Constitution.
Private shareholders of the South African Reserve Bank have very little influence over it. They play no role in the day-today management of the institution and also no role in the appointment of the executive management, the Governor and deputy governors.
The private shareholders are also entitled to receive a dividend of 10c per share per annum (before dividend withholding tax of 20%). But no individual shareholder, or group of shareholders, can hold more than 10 000 shares. This is to prevent any concentration of power. This means that in any given year the maximum a shareholder can be paid in dividends (after dividend withholding tax) is a paltry R800. Expropriation without compensation The EFF bill is styled as an amendment to the existing South African Reserve Bank Act. The bill aims to change the ownership of the bank through nationalisation. The state would, under this scenario, own 100% of the bank. The bill also seeks to move functions currently entrusted to private shareholders to the minister of finance. These include the appointment of some board members and the appointment of external auditors. Giving the minister the power to appoint certain board members doesn’t make sense given that the SA Reserve Bank Act currently stipulates that the President of South Africa appoints the majority of the board members (including www.theafricanpro.com
the governor and deputy governors). Giving the finance minister the power to appoint some board members would create two classes of board members – a nonsensical state of affairs. More disconcerting is the fact that the bill makes no provision for any compensation for current shareholders. The bill simply transfers ownership from shareholders to the state. The proposed amendment goes as far as to state that the change of ownership will have no financial implications. This may be taken as confirmation that provisions on compensation were not inadvertently omitted or left to be considered later. The stated objective is clearly nationalisation without compensation. This comes on the back of efforts to push for the expropriation of land without compensation. Both moves set a dangerous principle and put South Africa on the dangerous slope of economic disintegration.
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WHO IS BOBI WINE AND WHY IS HE CREATING SUCH A FUSS? Jimmy Spire Ssentongo (The Conversation) Ugandan singer turned politician Robert Kyagulanyi Ssentamu, known as Bobi Wine, is at the centre of a storm in the East African nation. Ssentamu has been arrested and charged with treason in a civilian court – shortly after a military court dropped a charge of illegal possession of firearms and released him from custody. The 36-year-old uses his politically charged songs to call for change in the country that President Yoweri Museveni has led for more than three decades. The Conversation Africa asked Jimmy Spire Ssentongo to try and make sense of what’s happening.
How would you describe the public reaction to the political crisis in Uganda? The public reaction is mostly a mixture of anger and shock. It’s true that Museveni isn’t known to be soft on his opponents or perceived threats. Nevertheless many Ugandans didn’t expect him to stoop this low. Given Bobi Wine’s growing popularity, most people indeed expected the state to act. After all, it routinely meted out retribution against key opposition figure Dr Kiiza Besigye. www.theafricanpro.com
But it was nevertheless shocking that the state would reach the point of laughably parading arms as evidence against Bobi Wine for treason. The sense of shock can also be read in the loud silence of most government officials. Just a handful are offering to be part of the collective responsibility for the international embarrassment. It has been left to the president to offer explanations on social media where he’s been more active than ever before. The public anger needs no elaboration.
It can be seen, it can be heard, it can be sensed in various expressions on social media, on the streets, in places of worship and on radio, TV, buses, taxis and in homes. It’s also clear that the state is aware of the potential for a violent public reaction to the brutality and poorly staged justification for blatant political persecution. In anticipation, there’s been a heavy deployment of police and soldiers. Since the passing of the Public Order Management Act (2013), demonstrators are treated as criminals. But in the heat of the current anger, this has not stopped people from defiantly using the limited space available. Much of the anger has been channelled through social media. One simply needs to check the comments on the President’s Facebook posts to get a sense of the bitterness and public fury. How serious a political challenge does Bobi Wine pose to Museveni? This is best answered by understanding what Bobi Wine represents. There’s a tendency to focus simplistically on Bobi Wine in terms of his moral, academic, and other experiential credentials. But this fails to place him contextually within Uganda’s political landscape. Museveni is still popular among some section of Ugandans, who argue that in spite of his failings, he is still better than most of his seven predecessors. A lurking fear of “going back to the past” still plays in his favour. He has some achievements to show too.
arena through a defiant ghetto card with a relatively consistent background of politically critical music. Last year he stood for parliament, arriving on the political scene with a bang that surprised many. His catch phrase was:
are unemployed, constitute a huge percentage of the active electorate.
Since parliament has failed to come to the ghetto, then we shall bring the ghetto to parliament.
It is not clear how this might end. It largely depends on whether the state remains adamant, and which other players join Bobi’s cause.
The state’s panicky mistake was to react to his popular entry by openly persecuting him – initially through banning his music shows. Museveni showed early on that he’d noticed the young man had a following, by writing direct responses to him in the newspapers. Then there was the ruckus in parliament over a vote to remove the age restriction on the presidency. Bobi Wine was among those who fought hard to stop it. Bobi Wine makes his feelings known during an altercation in Parliament. What seemed to draw Museveni’s attention even more was that candidates supported by Bobi Wine started to beat those backed by Museveni hands down. Gradually Bobi Wine began to build a more conspicuous political identity around a very catchy slogan “people power, our power”, unmistakably dressing in red attire plus berets, emulating Julius Malema’s militant Economic Freedom Fighters party in South Africa. It became clear that Bobi Wine was winning the hearts of youths as well as some earlier sceptics.
But this narrative holds no sway with the younger generation, many of whom were born after 1986, the year Museveni became president.
Given the widespread public desperation in Uganda, all many people want is a person who shows the potential of removing Museveni. All else is secondary.
Before entering formal politics, Bobi Wine enjoyed significant clout in the music industry. He entered the political
In this sense Bobi Wine poses a real threat to Museveni, more so in consideration that young Ugandans, many of whom www.theafricanpro.com
Museveni has confronted numerous challenges and won hands down. How do you see this challenge playing out?
The “Free Bobi Wine” agitation is developing into a movement that could easily take on a broader form. It is also expected that Bobi Wine’s stature would have been greatly boosted by his imprisonment. The state has contributed immensely to his political weight and appeal while at the same time proving itself a political villain and international laughing stock. He will no doubt be reading the public mood. Nevertheless, I don’t expect that the state is going to relent. Museveni is not known to countenance any threat. We are yet to see more of this roughness as we get closer to the 2021 elections, where there is strong reason to believe that Bobi Wine might stand. What are the prospects for a more open democracy in Uganda? Most institutions that would count in a democratic dispensation – parliament, the judiciary and an electoral system – exist in Uganda. But the country continues to show more signs of a hybrid state slanted towards presidentialism. Much of the real power to bring about change rests in the hands of the person who may not want to see it happen. There is therefore every reason to believe that an open democracy is highly unlikely under Museveni, except certain elements of it that don’t threaten his hold on power.
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Passionate and enthusiastic – Co - Founder and CEO at WIZZIT! By Mzukona Mantshontsho
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WIZZIT was launched in South Africa in November 2004 and in providing affordable banking to the mass market was the first to launch as part of its offering, cell phone banking that works across all the networks and all phones and SIM cards. WIZZIT solves not only an accessibility and affordability issue but from a convenience point of view offers 24/7 real time transactions and hence is “Your Bank in Your Pocket.” WIZZIT has taken its technology and branchless banking model to emerging markets in Africa, Central America and Eastern Europe.
The African Professional Magazine spoke to Co - Founding Director and CEO of WIZZIT International, a global pioneer in mobile banking and financial inclusion about his personal and professional journey thus far. Brian is listed in the Who’s Who of South African Business as well as the International Biography of Distinguished Leaders. He is an Ashoka Globalizer Fellow – a global network of social entrepreneurs. He has lectured and presented at seminars and conferences throughout the world: www.theafricanpro.com
• was invited by the Clinton Global Initiative to present the WIZZIT model as a means to “Bank a Billion”; • he has presented at SIBOS in Osaka Japan • presented at SIBOS Africa – Hosted in Botswana • at the G20 Financial Inclusion Summit in Mexico; • at the Alliance for Financial Inclusion (AFI) • at the Banking Associations of Venezuela, Peru, Brazil, Honduras, South Africa, Botswana and others • has been the invited guest speaker at the Central Banks of Nigeria, India, South Africa and others • He has presented at FATF and was invited to be part of the subcommittee on financial inclusion and regulation. • He has also been invited to present at Harvard Business School on several occasions where WIZZIT is featured as a case study • And is an invited key note speaker at many leading global conferences. Tell us about your early life and how was your training? I have a BCom degree and MBA; I started my career in the Banking industry; rose to position of AGM at age of 27; left and
started my own consultancy business and then joined Charles Rowlinson, and got the rights for Thomas International – a personality profiling business which we built into a franchised operation in 37 countries; In 2002 with Charles founded WIZZIT in South Africa and went live in 2004. Today we are in three continents; 14 countries and impacted the lives of over 10 million previously unbanked people. What does the role of being CEO at WIZZIT mean to you? Being able to make difference in people’s lives – staff and customers. Being able to inspire big banks to make a difference at the bottom of the Pyramid What are you currently working on and what can we expect from you going forward? We are working on expanding the model to different countries - I am responding to this interview from the Philippines where we are undertaking an exploratory visit. There is enormous opportunity here with 110 million people and 67% being unbanked with very high cell phone penetration. . We are working on expanding the product – new and innovative access channels and functionality. The technology is changing so fast we strive to be at the forefront and give our clients and potential clients the latest and most secure technology. Security and reputational risk of critical to our bank customers and they cannot afford to invest in technology that does not stand up to and exceed global standards. We are working on additional distribution channels – e.g. North Africa, Reunion and SE Asia/ASEAN. We are on a final short list of a major global deal which we are very excited about and will make a massive difference on global financial inclusion. What initiative (if implemented) would leave the greatest impact for you and for Africa as a whole? Making a significant impact on financial inclusion and giving people dignity and
access to basic financial services. Being awarded the contract alluded to above which would be huge not only for SA but Africa and the emerging markets in the world.
How do you participate in mentorship, if you do?
What would you say are the most critical resources for your successful leadership?
Most people that I have employed in my life have been unemployed and I get immense satisfaction from seeing them grow and flourish. I have several personal mentors in my own life that I have benefited from.
Inspiration, innovation, people skills and getting things done
How does the company contribute to the community?
How would people describe you as a Leader?
We employ primarily unemployed people; we bank the unbanked; we give people financial empowerment with dignity.
Passionate and enthusiastic. Understanding of the differences that we all bring to the work place and using these differences to build a better environment What is the legacy that you would want to leave by the time you retire? I made a difference in the lives of the unbanked population globally How do you strike the balance of career, business and interpersonal skills? Not easily. I preach about balance all the time to my children and employees but in my own life struggle to get the balance right. I try and live what I talk and be honest in all my dealings - personal and business. How has the company done in terms of business growth objectives? We have tried to balance financial results with social results and the fact that we are around and growing after 15 years says that we must be getting something right. How do you maintain ethics, integrity and professionalism? I have never taken a bribe in my entire career. I have been offered a bribe once which I was so shocked about I could barely respond. Needless to say we walked away from the deal. I try and deliver what I say I will. I treat people with dignity and respect at all times yet we can still have fun at work.
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How do you ensure the company is delivering quality customer service? We continually ask our customers if they stop using our service, we want to know why. If they think that we can improve we would like to know how What makes you tick or keeps you awake at night? What could we do more of; what could we do less of; what could we do better. What have been the highs and lows in your working career? Low - Letting people down; high exceeding expectations; Building a business from scratch that is today recognised as a global leader and pioneer in its field. Seeing the smiles on the faces of the previously unbanked people using electronic payments – making their lives simpler and safer. When you not at work, what do you get up to, including family life? And where can people follow you online? Spending time with my family and on the golf course with my sons. I am married to an equally entrepreneurial wife and have two daughters and twin boys. I am very private in my personal life but have a work profile on LinkedIn and Twitter!
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Fulfilling life purpose through vision and values – Chris Baloyi By Mzukona Mantshontsho
BOSCH CAPITAL was established in 2014 as a transaction advisory company. It is a subsidiary of BOSCH HOLDINGS, the multidisciplinary engineering group establishment in 1961, with a presence in South Africa, Kenya, Brazil and the UK. Bosch Capital’s primary offerings are threefold: provision of corporate finance advisory and capital-raising solutions for its clients, as well as facilitating investment solutions for the group. The South African Professional Services Academy (SAPSA) spoke to Chris Baloyi, Managing Director at Bosch Capital, about his personal, professional
and entrepreneurial journey thus far. Tell us your brief history; academic, professional to your role TODAY My early life was during the harsh realities of South Africa’s past where children were being raised in difficult conditions, some by exiled parents or in exile themselves, and I guess that has been a thread that gave birth to the person I am today. Having spent the early years of my life partly outside South Africa, I find that children that were raised in similar conditions, which had to adapt rather quickly to different spaces, cultures and environments, www.theafricanpro.com
turned to thrive differently to changing times, be it economic, political and social. Despite some challenges early on, I feel I have adapted rather well to our changing times as a country, from 1994 to date – I honestly feel I was ready for the changing times and was more positive as I was raised under a constantly changing environment where one had to adapt and embrace change in order to thrive. Somehow my early childhood challenges had prepared me to face my future as a young adult in a changing country confidently – having developed resilience and coping skills as a child, I knew what I wanted, I had hope and I had courage to succeed.
I completed my high school at Tembisa High School in 1992 and went to Leaf College of Commerce & Engineering in Rondebosch, Cape Town for a twoyear stint. This was a tertiary bridging college for previously disadvantaged black learners aimed at increasing the participation of these learners into the tertiary education system, thus enabling them to take up careers in commerce and engineering, as the name suggests. The college was founded and run by former exiles and was funded through donors. After two years at Leaf College, I enrolled for a B Com degree at the University of Cape Town in 1995 and in 1996 (the year I was meant to graduate), I dropped out of full time study following the passing of my mother. I joined Old Mutual Direct in 1997 as a sales consultant/telemarketer for insurance products. In 1999 I joined Gensec Asset Management as an Investment Analyst and simultaneously resumed my studies with UCT, completing my B Com degree at the end of that year. In 2000 I moved back to Johannesburg to join Investec Bank for my articles, and at the same time enrolled for a B Com (Honours) degree with the University of KwaZulu Natal, through distance learning, qualifying in 2001. I then wrote and passed both parts of the Board Exams in 2002 (March and November), and qualified as a CA (SA) in 2003. In April 2003 I left Investec and decided to take some time out to plan my next move, hoping to take time off for a year travelling. But then life happened, and I got an offer with Nedbank in July that year I believed was a worthwhile opportunity and joined Nedbank as a corporate banking transactor. But I didn’t stay long at Nedbank, and left at the end of 2003 to join Stanbic Africa at the beginning of 2004. In 2004 I decided to further my studies and enrolled for a Master of Commerce degree at the University of Johannesburg, graduating in 2006. For my thesis, I investigated the challenges affecting new venture creation in South
Africa (Research Topic: “Investing the Availability of Capital for New Venture Creation in South Africa”). I set out to investigate whether initiatives and policies of government such as BEE (this was before BBB-EE) were making any difference in increasing the number of new black-owned businesses – I looked at the role of government, banks, venture capital and private equity funds and development finance institutions (DFI’s) and conducted numerous interviews for the study. The study sought to confirm if the perception that the low growth of new business ventures in South Africa, especially among blacks, is due to lack of funding, is in fact true. My study concluded that while the lack of capital was partially responsible for the poor levels of new venture creation, an equally important reason was the lack of critical skills for business success. Over the next couple of years I extended my investigation into the challenges affecting new venture creation to Mozambique and Ghana, and my findings there were similar to what I had found in South Africa. In 2010 I presented my findings to the Portfolio Committee on Economic Development in Parliament where I proposed a funding model for increasing the success rate for SMEs. Looking back, I realise that these were building blocks to for the work I’m doing today. What does it mean to you that your colleagues have entrusted you with the position of MD at Bosch Capital? This position came at a time when I was not actively looking for a new job; I was happy where I was. I was responding to a non-executive director position on one of the boards of a different subsidiary. At the end of the interview the group CEO, Mike Gibbon, asked me to consider the Bosch Capital MD role rather, saying that since receiving my CV he had concluded that I would be more valuable to the group in an executive capacity than as a non-executive director. To cut a long story short, I joined the group five www.theafricanpro.com
months later. I have just completed my first year at Bosch Capital and so far it has been a rewarding journey: I have developed a strategy for the company and received overwhelming buy-in by from the executive team. I have recruited staff, engaged in business development and marketing which has resulted in business growth. Over the years I have gained a lot of experience in funding projects, with organisations like Stanbic Africa and DBSA. Some of these projects were large, complex and in the order of billions of Rands. But it’s the smaller transactions that always excited me, around the R100–R200 million ranges, as these projects are usually developed by SMEs and entrepreneurs who often need support to package, fund and execute projects. Given my entrepreneurial mind I enjoy working on these kinds of projects even though they are generally viewed as more complex to execute compared to large projects. I believe these projects have tangible development impact benefits, as they create real jobs and change people’s lives at the most basic level. At Bosch Capital I am able to help even more clients seeking to fund and develop projects at this level. I feel that there is a perfect fit between my life journeys to what I do today. I am doing meaningful work. As an example, we have recently raised R120 million for a Greenfields water treatment chemical treatment plant that is 100% black-owned. Currently the company employs about 200 employees, and with funding raised our client will be able to expand and automate his business and add another 100 employees, thus addressing the high unemployment we are faced with as a country. I feel most of my previous work experiences were in preparation for the work I do today, I have come full circle. And I thank God that my colleagues have entrusted me with the position of MD of Bosch Capital, and for the opportunity to do
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what I love. What would you like to have achieved by the end of your term as MD? I would love to leave behind a sustainable and fully integrated company to the rest of the group, with the right people to take the company to the next level. The strategic value proposition of Bosch Capital is to match clients and project concepts to engineering and capital, in a one-stop shop offering for clients. I want to build Bosch Capital as more than a capital-raising intermediary, but as a business that adds real value to our clients and their projects through our integration of funding with engineering capabilities. At the end of my tenure I would love to have the groomed right successor to take the business to greater heights. How would you describe your management and leadership styles? 20
First, I am decisive in my approach; I do not like people to be unsure where they stand with me. Second, I motivate people to be their best at what they do. I believe that anyone can achieve whatever they want to achieve, in spite of one’s past and history. I strive for continuous improvement – whether you are black or white, we all share the same fears, deep inside we have the same ambitions for our lives – I tell my team that ‘anything is possible, go and achieve what you want’. Finally, I instill a passion for commitment to clients, which includes hard work, constant feedback and keeping promises. What makes you tick or keeps you awake at night with respect to your position as MD? With are a new and growing business, and given our recent successes, the demands on our business are increasing at a fast rate. I am concerned about sustaining our ability to meet our clients’ expectations at the high standard we
have set so far, especially with a team in two offices (Bosch Capital operates from Johannesburg and Durban). In order to keep the team driven and motivated, I encourage a healthy work-life balance, where hard work is alternated with family time. How do you take part in mentoring others? We have a formalised Performance Management System where personal and professional goals are set with our employees at the beginning of the financial year, and performance is reviewed twice a year. In addition I have one-on-one sessions with each employee to discuss progress on the goals, and to identify areas of improvement. I believe in celebrating wins, and will not hesitate to throw in a breakfast or lunch to celebrate a project completion – something like this may seem insignificant at face value but it communicates to employees that they are appreciated and encourages them to be better and become greater at what they do. If you had to relate a couple of experiences, what would be the highs and what would be the lows of your working career? Prior to my current role, my career high was at DBSA where I joined as Senior Investment Officer in 2007 working on private sector projects, and was later appointed as Manager: Infrastructure Finance working on municipal infrastructure projects before I left in 2014. Some of my highlights there, I had the opportunity to package projects for a five-star hotel in Cape Town and a student accommodation project at the University of the Western Cape, which both received funding approval. Both of these were entrepreneurial projects which involved black clients. Another highlight from my time at DBSA involved heading up the www.theafricanpro.com
initiative to fast track the funding and implementation of water and sanitation projects through an innovative funding mechanism which entailed the pledging of Municipal Infrastructure Grants (MIG) in district municipalities. The initiative, implemented in conjunction with National Treasury through Circular 51, resulted in billions of Rands being disbursed to fund infrastructure to develop and improve water and sanitation in various district municipalities, ensuring that they have access to clean, safe water and proper sanitation in poorer, rural municipalities – that was humbling! As much as I enjoyed my work at DBSA, a low was the fact that most projects were not bankable or well packaged, and therefore we could only do so much. My highlights at Bosch Capital have been the freedom to do what I love without much constraints (due to the flexibility we have as a private, unlisted company) and the trust and respect I have from our Board to execute the company strategy without interference. I can’t think of any lows so far. What accolades have you and your organisation received recently? Approval of funding from one of the DFIs for a water treatment chemical plant and appointment by a national government agency to raise funding for the establishment of the National Youth Fund to finance youth owned SMEs. How has the firm fared in terms of achieving its business growth objectives? 2018 has been the best year by far for Bosch Capital since its inception. The team is growing, the workload is increasing and by August (half year) we look set to achieve 80% of our full year target through purpose and passion from the team. We have achieved incredible business
growth, especially in our capital-raising offering: we are executing a number of mandates for capital-raising, we had successfully raised project finance in the first five months of the financial year, we are working on projects from outside of South Africa, in countries such as Zimbabwe and the Democratic Republic of Congo - we are taking all this with humility! Through what means does the organisation ensure that the firm maintains elevated level of ethics and integrity? We subscribe to high ethical standards and have zero tolerance for unethical conduct. Because we link clients to funders, who have high corporate governance requirements, we expect the same level of ethical conduct from our clients, as from our people. We don’t do anything ‘on the sidelines’, whatever we do for a client has to be in writing, it must be capable of being audited and is kept safe for future reference. As an Accountant by profession I’m bound by SAICA’s code of professional conduct, and I instill the same standard of ethical conduct in my team as applies to me personally. I am a firm believer that each one of us will eventually achieve their desired professional goals in life if we work with integrity. And as professionals we must exercise due care, diligence and honesty and be prepared when the big breaks come along. And as you keep on diligently doing your work know this: your time will come, and you will be ready for it when it does – I didn’t take any short cuts on my way up, hence all that came to me found me prepared, with my professional character intact. Is transformation considered a key objective at the firm, and if so, how is it attended to? Transformation is a key objective at Bosch Holdings and its group companies. At Bosch Capital we currently have a 100% black team, of which 33% are women. However, we strive to ensure that we
don’t just chase numbers; our people are adequately qualified and extremely competent. As we get more people on board, our transformation strides will be more evident. Kindly highlight some recent contributions by the firm to the community and to the relevant professions your professionals are a part of. Currently our corporate social investment initiatives are driven from the holding company level, with inputs from subsidiaries. Two key aspects of Bosch Holdings social investment is in supporting LIV village, a children’s home in the Durban area, as well as growth and development of engineers to graduate and achieve professional registration status. Bosch Capital endeavours to become an influential thought leader in project finance subject matters and regularly contributes to major events and conferences through presentations and participation in discussion panels, e.g. 2017 FIDIC-GAMA conference, 2018 IMESA conference, and the 2018 WRC Water Dialogue. On a personal level, I contribute to various charitable causes with a focus on eradication of poverty, advocacy and support for protection of children, education and healthcare. To this end, I volunteer my time and skills as a board member at World Vision South Africa (WVSA), and support the work done by Joint Aid Management (JAM). How does the firm ensure that professionalism and good customer service are upheld? Communication is key when dealing with clients. At Bosch Capital we strive regularly to communicate our work progress to our clients, keeping them on the loop on where we are in the processes we are following to get to the final result. I am a firm believer that we should treat people the way we would want to be treated. We are diligent in responding to www.theafricanpro.com
every enquiry that we receive. For this reason, I will step in and work with the team from time to time if I need to in order to quality and timely delivery on a project. In our recruitment process, we incorporate practical case studies to ensure that the people we employ are able to deliver on the basic job requirements, and to assess gaps for further training. This does wonders for the human capital we attract. When you are not at work, what do you get up to and where can people follow you online? I love wildlife/visiting game parks, my favourites being the Pilanesberg Game Reserve, the Kruger National Park and Cape Point Nature Reserve. As a family we love travelling and sightseeing and visit a new country whenever possible. My wife and I have two children aged 11 and 8 years. 21
Other than LinkedIn I’m not on social media. People can follow me by visiting our website at www.boschcapital.co.za and the Bosch Capital LinkedIn page for valuable insights that we share on the work we do, or on my personal LinkedIn page.
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Common sense, logic and initiative in business – Clifford Livingstone! By Mzukona Mantshontsho PKF OCTAGON is one of South Africa’s leading Chartered Accountants and Business Advisory Service providers delivering innovative financial solutions and needed support to their clients’ current and future business issues. PKF Octagon caters for individuals, privately owned businesses and corporations of varied sizes that span a wide range of industries. Despite their diversity, PKF Octagon sees them as partners in the journey to unlock their future potential. The South African Professional Services Academy spoke to Managing Partner Clifford Livingstone about his 21-year-old personal, professional and entrepreneurial journey at the firm.
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Tell us your brief history and your role TODAY, how was your training like? I did my Bachelor of Accounting degree on a part-time basis at the University of Witwatersrand and graduated in 1980 whilst working for Eliasov Wolf & Partners. I wrote what used to be called the board exam in 1981, impacting significantly on my training, growth and development at Bloch Schaffer and then Herbert & Trakman where I was a Partner. When I track my movement and changes throughout my career, I recognize that the changes were all important in crafting the individual I am today – In 1981 we started the business with eight partners, hence the name Octagon and now since November last year PKF Octagon! What does it mean to you that you have been entrusted with the position of Managing Partner? The PKF Octagon brand is built on a profound sense of good reputation and
I feel a deep sense of privilege to have been entrusted with this very important role. This appointment also means I can serve and guide other professionals aspiring to rise through the ranks, with expertise in audit practice, accounting principles, business advisory, business empowerment and taxation.
The PKF Octagon Model has always been driving a happy and collaborative working environment, which spearheads diversity in the professional services sector; and driving innovation in our service delivery models. The collaboration and referral system are working well for us since our association with PKF
What is your role daily? 30-40% of my time is spent in managing the practice and all interactions with the firm. The rest of the time is spent consulting with clients, planning and assessing audits. I am spending a significant amount of time in the regulatory space to ensure great quality, professionalism and integrity is upheld.
How would people describe your management and leadership styles?
What would you like to have achieved by the end of your term as Managing Partner?
I would like to think it’s informal and casual. I have an open-door policy and am freely available. I’m told I am insightful and have a lot of empathy. My leadership and management are based on being firm as a leader and finding a level of comfort that harvests honest and open relationships with all professionals, business support staff in our business unit and the clients we service.
I would like to leave a succession plan of a viable practice for my younger partners to successfully endure into the future.
What makes you tick or keeps you awake at night with respect to your position?
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I am keen on enabling an environment that provides an equal opportunity for all our people to excel in their respective areas of work and core competency. I am quite worried about our economy at present, the high petrol price and the cost of living in this country worries me as many people will not afford basic services. How do you take part in mentoring others? We mentor professionals on-the-job, we have several trainees and nurture that talent. How has the firm fared in terms of achieving its business growth objectives? The firm has done incredibly well and continues to achieve year-on-year growth.
guided by the recognised need to narrow the divide between the advantaged and disadvantaged members of South African society and the obligation to play a role as a good citizen in promoting the transformative goals of the Republic. How does the firm ensure that professionalism and good customer service are upheld? Besides the academic qualifications that are important in the work we do, I am a firm believer in common sense, logic and people taking the initiative to deliver on what is at hand – we want employees that have exceptional skills, commercial judgment and are committed to the highest level of service to our clients. We engage, in-house train and coach our employees to ensure this happens on a weekly basis.
What would be the highs and what would be the lows of your working career? Highs are always our employees passing exams. A huge loss in our past was losing 2 partners who died far too young. Highs of late have been the association with PKF International, and the development and move into our new office building overlooking the M1 motorway in Waverley What accolades have you and your organization received recently? We are not motivated by accolades but enjoy the ongoing positivity of our advisory work with clients, that bring about successes.
How does the organisation ensure that the firm maintains prominent level of ethics and integrity? 25
Audit quality, Ethics and Integrity are non-negotiable for our firm and is a minimum expectation of all our employees. Is transformation considered a key objective at the firm, and if so, how is it attended to? We are firmly committed to transformation and that forms part of our objectives and values. As part of our Partner’s Think-Tank at PKF Octagon, we have taken on board four new partners since January 2018, and three of our partners are women. Highlight some recent contributions by the firm to the community: We do pro-bono work for various organisations like AUTISM SOUTH AFRICA and we host and sponsor the “Mandela Day” football tournament annually for THE SMILE FOUNDATION. This pro-bono work is www.theafricanpro.com
AURECON’S DR. EDUARD VORSTER By KC Rottok
What does it mean to you that your colleagues have entrusted you with the position you hold in the company?
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I am very grateful to Aurecon to have allowed me to realise and unleash my full potential within this dynamic company. I am privileged to serve in different roles. I lead the foundation design for the iconic super-tall building, the Dubai Creek Tower. In my role as Client Director (Resources) I can play a role in harnessing the effectiveness of multi-discipline teams working in the Petrochemical, Mining and Manufacturing industries. This team contributes to several very significant multi-disciplinary projects where we are able to assist our clients in ensuring they have sustainable businesses. Sustainability in this context means that we can provide a lasting and positive impact to the communities in which these projects occur, the environment they impact and we also ensure financial sustainability for our clients. How rewarding is that! I am very privileged. What would you like to have achieved by the time you leave the company? I am proudly South African and would love to have made a lasting difference in my field of expertise, Geotechnical Engineering. I would love to have done that by brining my
South African expertise to iconic international projects. I aim to create a cohort of alumni mentees that are empowered to move us forward for the greater good of South Africa and the broader sustainable business context. How would you describe your management and leadership styles? In terms of leadership, I lead from the front. It is very important for me to show passion for where we should be going. I believe in working for the greater good of all of us, as opposed to just fulfilling individual dreams. In doing so, we are able to create something lasting and very fulfilling. I enjoy leading us in a collective vision. If I believe it, you can believe; if you can believe it, others will too and we can make a difference. I strive to ensure our workplace allowed for the opinions of all team members to be heard. There is nothing worse than not being able to take on-board the inputs of a diverse team.
From a managerial point of view, I enjoy empowering individuals to bring their best to the management of our business. I demand action and I am very demanding on those elements of managing our business that we absolutely need to nail to ensure that the business runs smoothly. I enjoy diversity of team. That is to say, age doesn’t matter, race doesn’t matter, gender doesn’t matter; but, to be on the team a team member must believe where we are going or challenge ideas openly so that we could take opinions on-board and improve. Diversity is strength! What makes you tick or keeps you awake at night with respect to your position? I take full ownership of my life and my work. It is a passion. I love making a difference to people around me and I love the notion that in our work, we contribute to making our communities and the environment we live in, sustainable, by helping our clients to have sustainable businesses. I lay awake at night dreaming of the next lasting impact we could make. I worry about the happiness of my team and that they feel fulfilled in their jobs. If that doesn’t exist we are unable to make a lasting difference. I think about keeping the conveyor of deep talent fed for our business. Talent is so important. Honed with deep skill it makes for a fundamental building block of a successful and difficult-to-copy business. How do you take part in mentoring others? I love being hands-on involved. Mentoring is what one makes of it. It takes both the mentor and the mentee to be engaged and wanting to develop the mentoring relationship. I currently have three mentees across different parts of the firm. Apart from the three formalised mentorships, I also mentor on a project-by-project basis and as part
of leading my senior team. Mentoring for me really works when I also get something out of it. I find that often my mentees teach me as much as I hope they gain from interacting with me. If you had to relate a couple of experiences, what would be the highs and what would be the lows of your working career? I have had many highs in my career. My career had been truly blessed and I have been privileged to be able to have many opportunities to excel. Some examples of the highs are: • When I started out working as a young geotechnical engineer I had the privilege to work with Kallie Strydom, one of the great geotechnical engineers of South Africa. Kallie taught me humility and that people make a business. He was one of my greatest mentors. • Under Kallie’s leadership, I got involved in some excellent projects around the Mohali Dam, designing some of the construction platforms for the TBM for the Mohali Transfer Tunnel in beautiful Lesotho. • Under his leadership I also became involved in several schools’ projects. These projects were small in capital, but so large in appreciation from the local communities that they served. I was touched by the way communities rolled up their sleeves to help me do my work in the field. It is an experience that will stay with me forever. I really felt we were making a difference to their lives. That is why I became an engineer, after all; to make a difference to society. • In 2002 I got the once-in-a-lifetime opportunity to study at the University of Cambridge, sponsored by the Cambridge-MIT Institute (CMI). CMI had the objective to incubate entrepreneurship and bring research projects to prototyping and ultimately www.theafricanpro.com
businesses. What an experience to work with experts from Cambridge and MIT on a project that considered the very real issue of the effect of tunnelling on pipes. This project arose out of some significant issues encountered during the construction of the Channel Tunnel Rail Link, that was underway at the time. I was able to produce an award-winning PhD thesis. The work on cutting edge fibre-optic sensing technologies set me up for the next part of my career. The interaction with international students and experts created a network and friendships that last to this day. • In 2006 I was offered the opportunity to start a geotechnical group in the then Africon (now Aurecon). The CEO at the time, Dr Gustav Rohde, saw the promise in me and offered a once-in-a lifetime opportunity to build a new geotechnical group. I was so excited. This turned out to be a massive success. Today we have some of the most highly regarded geotechnical engineers and engineering geologists in South Africa and work on some of the most iconic projects in the world, such as the Dubai Creek Tower and some cutting-edge stadia in Doha, Qatar. • A career-defining project as a young geotechnical engineer was leading the geotechnical design for work package 5, the dolomite section, for the Gautrain Rapid Rail Link. I was so proud to be involved in this iconic South African project. We made a real difference, not only in public transport in South Africa, but also in excelling the science of engineering in dolomite in South Africa. Working with world class engineers and engineering geologists such as Isak Venter, Prof SW Jacobsz, Dr Peter Day, Ken Schwartz and Roger Storry shaped the way I thought about problem solving.
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• In 2010 I became involved in the major Nacala Railway Project for Vale. I led a US$11m geotechnical investigation across 950 km of greenfield and brownfield railway line. This was another career-defining project for me and for my team. What we learnt in data handling, working across a vast site, safety, working with communities and working in multidisciplinary and multi-national teams were immense!
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• My love affair with the Middle East started in 2002 with the designing of the foundations for the Madinat Jumeirah development in Dubai. It is still one of the most visited and iconic Arabic themed shopping and hotel complexes in Dubai. Through 16 years I have been privileged to work on projects from master planning to execution, spanning shopping malls, iconic hotels (e.g. St Regis Hotel, Abu Dhabi), contributing to codes for Abu Dhabi ports (e.g. Gabbro Port Terminal) to tall buildings (the last being the Dubai Creek Harbour Tower). Working in the Middle East taught me so much about working with teams of multi-nationals in a very fast paced environment, where the objective often is to build projects that will create legacy for their countries. What a privilege to be part of that! • I am now leading a very dynamic team of multi-disciplinary people working in the Mining, Petrochemical. Manufacturing and Ground and Underground Engineering spaces in Africa and the Middle East. What a joy and privilege. The team are so talented. Despite challenging market conditions, we find ways to add value to our clients and society through the work we do. This is a high for me. • I am now part of Aurecon’s global leadership team and get to interact with our top leaders in South Africa, our African Offices, Middle East, South East Asia, Australia and New
Zealand. To be able to take part in such forums is exhilarating.
rotation for outstanding research in Belgium in 2007
I am usually a very positive person and looking at lows is not natural for me. There are however 2 occasions that can be highlighted and that taught me some good lessons:
• I was awarded the Cambridge Turner Prize (2005), Barry van Wyk Award (1998) and the DW de Vos Medal (1997).
• The death of Kallie Strydom in a preventable accident during a geotechnical investigation still haunts me. Kallie was in his prime. Such a great mentor and friend and one of South Africa’s greatest geotechnical engineers. This taught me that life is short and one must commit fully to make a difference and to enjoy life. It also taught me that safety is personal. Take care of yourself. You are important to others and to yourself. • In 2015 I was involved in the retrenchment of part of our team. This was one of the most emotionally challenging times of my career. It taught me that we must take charge of our own destinies. Make your own success. Commit fully to make a difference and hunt down the opportunities. If one waits for a solution the solution that comes may not be what one needs. Rather be part of sculpting it. Are there any accolades that you have received recently or your organisation during your leadership? • I have published over 29 No. papers, industry articles and opinion pieces, amongst which are four international journal papers and a State-of-the-Art report. • I am the SAICE 2014 Engineer of the Year • I am a two-time recipient of the JE Jennings Award (2006, 2010) • I won the prestigious Prix de Mécanique des Sols JACQUES VERDEYEN awarded on a 4-year www.theafricanpro.com
Our organisation has recently been awarded one of the top 5 most innovative companies in Australia. In you view, how has the firm fared in terms of achieving its business growth objectives? Aurecon has done exceptionally well to position itself in the market as an agile and innovative company that cares about its people and making a difference in the environments we work in. Being a multi-national company, we are diverse in terms work force and skill sets. We have such strong leaders across our business and it shows in the way we are weathering the economic storms. Our journey remains however one of persistence and fighting complacency and requires us constantly searching for and developing the best talent to take our company into the future. In your view, through what means does the organisation ensure that the firm maintains high level of ethics and integrity? We put great emphasis on leadership and our Aurecon principles, which are creating a legacy, being playful with serious intent, believe it, say it do it, making the complex simple, being nimble and mastering one’s craft. We spend time in nurturing and developing leaders through formal and informal training. We also subscribe to international best practice regarding Anti Bribery and Corruption. Each staff member undergoes mandatory training on an annual basis to hone awareness of bribery and corruption. In combination with leadership development, practicing our Aurecon principles and a strong mentorship programme we maintain
high levels of ethics and integrity. In your view, is transformation considered a key objective at the firm, and if so, how is it attended to? Transformation is a key imperative in the firm. We value diverse teams to bring fresh thinking and new ideas to enable us to serve the broader society through the work we do. We spend our time at every opportunity to attract and select the best diverse individuals (from the perspective of race, gender, culture, thinking and Aurecon attributes) to build teams that would have an unfair advantage over our competition. Alas, we are not yet complete on our journey. We are currently a Level 2 B-BBEE contributor in the South African context. We are striving to create more opportunities for female professionals in the work place and developing aboriginal people of Australia, for instance. By taking a personal interest at individual leadership level (for instance me taking a personal interest to develop and transform teams in my influence, and others doing the same) we are transforming the Aurecon of 2018 to the Aurecon of the future that remains a truly local company in the regions we work. In South Africa we are proudly South African and hence will reflect South Africa in our future state. Kindly highlight some recent contributions by you and your firm to the community and to the relevant professions your professionals are a part of.
At Aurecon, we know we are only as strong as our people. And we believe that our business’ future relies on the education and skills of tomorrow’s leaders. We invest in various bursary programmes, to help develop and support passionate, driven and innovative individuals. Aurecon bursaries are awarded to deserving students for studies at various tertiary institutions in fields specifically related to the company’s activities. Students from approved universities which offer programmes that lead to professional careers in engineering are considered, with bursaries available for students studying towards a BSc or BEng in the fields of Civil, Mechanical or Electrical Engineering. Recently, we launched a rather exciting initiative. Aurecon partnered with Engineers without Borders South Africa to run a series of workshops at universities across Gauteng, where students were taught to use design led thinking to problem solve but also to bring creative thinking into what and how we impact society through our work. How do you and your firm ensure that professionalism and good customer service are upheld? Aurecon is first and foremost a clientled organisation. That means that our strategy is to acknowledge clients at the centre of our existence as a company, through our clients we are able to make most of the difference we aspire to make in society. So, it serves a personal goal
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for many of us as engineers and shapers of the future. In this strategy we invest in cultivating deep relationships with only a few clients in the aspiration to get to know them well, and for them to know us well, that we become true partners to each other in the objective of bringing ideas to life. We pride ourselves not merely in winning the work, but delivering it with value. In that way creating an enjoyable experience where our clients want more of the Aurecon Experience. Our staff are excited and relish the opportunity to weave the Aurecon magic, partnering with our clients we make a difference to wider society. By cultivating this working and client experience we achieve the best out of our staff to deliver the best value to our clients. We feel quite passionate about this. On the pointier end, because the Aurecon Experience is so important to our strategy, we are clear in our expectation of staff and endeavour to practice being hard on performance, but soft on people. We don’t tolerate substandard workmanship or bad behaviour that put our future at risk. We do also take a personal interest in developing our staff to achieve their best and thereby bringing that valued Aurecon Experience to bear.
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‘You can’t build a business if you don’t have passion for it and understand the detail’ – Thiru Pillay By Mzukona Mantshontsho
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DELOITTE is a brand under which over 270000 dedicated professionals in a network of firms throughout the world collaborate to provide audit, consulting, financial advisory, risk advisory, tax and related services to select clients. www.theafricanpro.com
The South African Professional Services Academy (SAPSA) spoke to Managing Director of the Consulting Business at Deloitte Africa about his personal, professional and entrepreneurial journey thus far. Tell us your brief history; academic, professional to your role TODAY I was born and raised in Shallcross right next to Chatsworth in Durban. Although I was raised in a very modest context, my parents and grandmother instilled a deep sense of self-belief and hard work at an early age. I had early exposure to leadership and responsibility as head boy in both primary and high school. I became Vice-Chairman of the house committee of my residence at the University of Witwatersrand in 1990, the year I enrolled for a Mechanical Engineering degree. I was one of four Indians in a residence of about 400 boys – and got to live diversity – as for the first time I was living with the real diversity of our countrywide. Things got too hectic when I became a member of the Student Representative Council, and I failed my third year of studies and got excluded. I got a job as a Technician for an Eskom power station in a small town in Mpumalanga called Rietkuil. I was in a low-level role in overalls and safety shoes – it was a great learning experience and an awakening to the real world. It was also a unique glimpse into the economy and how things work (when you switch on the lights at home, I know exactly where that comes from). To be accepted back to university after the exclusion was a mission. I was lucky to secure 30-minutes with then Deputy-Vice Chancellor Professor Malegapuru Makgoba, who allowed me back into the Engineering Faculty. This changed my life and I am very grateful to him for that. I completed my studies while contracting as an independent contractor to Eskom (this funded my life and studies).
In 1997, I became the founder and leader with three other partners of an operations improvement consulting business, Khulisa Management and Engineering. This is where I developed my business management and consulting skills and where I got to test myself as an entrepreneur. I worked with clients across industries on projects in areas like operations improvement, plant asset management, process reengineering and strategy. Having started with a 6-page business plan, we grew an amazing team, positioning and culture over four years. We were a pioneering 100% black owned Consulting firm. We eventually sold the company to Deloitte with whom we had developed a good partnership. What does it mean to you that your colleagues have entrusted you with the position of MD of Consulting at Deloitte Africa? Deloitte is one of the World’s leading professional services organisations. It is a tremendous responsibility and great privilege to serve the firm and work alongside our Exco and my colleagues in Consulting and the broader firm. I have found the role enormously rewarding from both a local and global perspective. I value the relationships, the energy and the people and culture. It is a special place. I have been running the Consulting practice for the past six years across our 14-country member firm. I have also had Exco responsibility for our Corporate Finance business until recently. I have had a unique exposure to doing business in Africa as we drove our integration to become one firm. It has also been hugely rewarding to serve on the Global Consulting Executive and to have served a stint as Chief Innovation Officer. Prior to my current role, I built and ran our Strategy and Operations practice over six years, establishing what is now the leading business in this segment in the market. What would you like to have achieved by the end of your term? www.theafricanpro.com
There is no specific tenure for the role. I guess you serve for as long as you have the passion, energy, relevance and acceptance by the organization in the role. My overall belief about leadership roles is that you should aim to leave the business better than you found it and ensure its sustainability long after you have left. The business must also have made an impact on its leaders, people and clients. I would like to see us recognised by our clients and the market as undisputed leaders in the business consulting industry in Africa and making an impact on their most critical issues. Some of the key outcomes at the end of my term should include a culture that is strong and special, a robust Africa footprint, and we are futureproof with regards to our business model, services and impact in the fourth Industrial Revolution. I am still energized and believe I can make an impact – I need to define what is next for me. My belief is that the key to the next step is to do your best at what you currently do How you would describe your management and leadership styles? I like to build things and change the game versus maintain the status quo. Organisations and people must have a belief in something bigger than revenue and operations…they need to be inspired. I am a firm believer that we are building a movement with likeminded people that buy into a dream and purpose together. I like to lead from the front and believe that the role of the leader is to set a collective vision, build a strong leadership team and culture, put energy into the system and drive execution. I am hands on and believe that you cannot build a business if you don’t have passion for it and understand the detail. Relationships and engagement are important to ensure alignment – so I like to be connected at deeper levels and not be transactional. I also expect my fellow leaders to get on with the job knowing that I am right next to them. I believe that we are in this together at all levels and that we should all be authentic
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and honest always. What makes you tick or keeps you awake at night with respect to your position as MD Consulting in Africa?
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I always challenge myself to do my best and ask myself. “whether I have done justice to my role today”, Have I done my best and have I earned my right to be the leader? I am inspired by the purpose and ambition of the firm and humbled by the great people and scale. I want to make an impact and contribution that counts. This is after all my life’s work at this point, noting that I have been Director in the firm for 17 years. We have a very strong leadership team that I have a high level of trust in – this helps you to sleep better. Some of the issues on my mind would be the support our leaders need to be successful and progress with the transformational things to ensure we are stronger for the future and we don’t repeat previous mistakes. Effective execution is also something I worry about. This is the key to success and progress. The recent brand damaging events in the professional services industry and concern about integrity and ethics are top of mind for leaders in my industry. How do you take part in mentoring others? This is key to building a strong culture and organisation. People give me a lot of energy and purpose. I think that coaching and mentorship are the ideal leadership models in our context. My interactions with my leadership team are often mentorship discussions. I also make time for conversations with colleagues and staff. We have had structured mentorship programmes over the years and continue to do so. I have found these extremely fulfilling, watching leaders grow. Deloitte has a great culture of mentorship and people development. If you had to relate a couple of experiences, what would be the highs
and what would be the lows of your working career? Highs: • Being the founding member of a consulting business in 1997 was a defining moment. This was a leap of faith that kicked off my career in business and consulting and established a spirit of entrepreneurship and self-belief as a leader. I know that I can do it. • Being made partner at Deloitte at the age of 29, • Building our Strategy & Operations practice at Deloitte from a small group to a meaningful business that was able to compete with the mainstream players. Subsequent leaders have taken that business to even greater heights, • Leading client teams and delivering client impact is always hugely fulfilling. It is enormously validating to experience impact with clients. You also learn from your clients, and • Playing a role in the establishment of Deloitte Capital into a leading Mergers and Acquisition practice in the industry and its early success.
received too many accolades to mention them all. We are a recognized leader by a wide range of analysts in most areas of business consulting including the various domains of digital transformation. The firm has also received numerous awards. A happy client who believes we have made an impact is perhaps the best accolade. How has the firm fared in terms of achieving its business growth objectives? I believe that we have done very well in a tough market. We are among the leaders in most categories. A key focus for Consulting Africa is the digital transformation agenda of our clients across all areas of their organiations (public and private sector). The macroeconomic environment has not been favourable over the last few years to support revenue growth. Despite that, we have performed well, especially with our new digital service offerings. We have also invested a lot in leadership, capability enhancement and new solutions over the last few years and look forward to the growth impact of these investments in the coming years. Through what means does the organisation ensure that the firm maintains elevated level of ethics and integrity?
Lows: • Losing a major deal that we have worked hard on is always disappointing. • Dealing with behavior, and
poor
leadership
• Missing your budget or plan. While you can be resilient, it is not a good thing for the team spirit and can knock business momentum. What accolades have you and your organisation received recently? Our Global and local business has www.theafricanpro.com
This is fundamental to our brand and culture. It cascades throughout the organisation and starts at the top. It starts with who we recruit into our business and in our governance, management, learning and development processes. We have embedded processes throughout the organization with a dedicated risk, independence, quality and ethics function. I really feel that our leaders and people have a deep sense of ethics and integrity at all levels. Is transformation considered a key objective at the firm, and if so, how is it attended to?
Transformation, diversity and inclusion are fundamental to our strategy as Deloitte Africa. We have an explicit goal to be 51% black owned in South Africa by June 2020. We are already a Level 1 BEE contributor. We have a tremendous focus on this in the Consulting business. Our black ownership in Consulting is currently 43% and we are very confident of achieving the 51% goal by 2020. We also have a drive to develop women in leadership. The firm’s goal is to have 35% women ownership by 2020. While we have made progress, we have a lot of work to do at the senior levels. Kindly highlight some recent contributions by the firm to the community and to the relevant professions your professionals are a part of. The firm is driven by a global purpose statement: “Make an Impact that Matters”. We are involved in several non-
profit making organisations. An example is our long-standing relationship with the African Children’s Feeding Scheme. Every year, we have Deloitte Impact Day where we contribute one working day to community initiatives as the entire business. This brings the social consciousness and our core values home and re-enforces our culture. How does the firm ensure that professionalism and good customer service are upheld? These attributes are fundamental to our DNA. We are clear that we exist to make an impact on clients. I like to describe our consulting culture as ‘humbleconfidence’. We are an entrepreneurial and innovation led culture that is values driven and client centric. We are the people that clients want to work with.
recruitment process. Our learning and development journeys in the firm also focus a lot on enhancing these attributes and capabilities throughout one’s career. When you not at work, what do you get up to and where can people follow you online? I have a wide range of interests and enjoy the outdoors. I’m a keen cyclist – both on and off-road and have, for example, completed 13 consecutive 94.7 cycling challenges and 11 Cape Argus rides. I also sometimes ride a super bike and enjoy watersports and skiing with my wife Ashika and our 3 sons who are 9, 15 and 18 years old. I am currently learning to fly a helicopter. I enjoy reading across a wide range of topics. I do Pilates once or twice a week and have a daily meditation routine. I believe spirituality is key to who we are and how we live.
Professionalism, client centricity and energy are key things we look for in our
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Trevor Noah is right. People can be both French and African Dr Edward Ademolu (The Conversation)
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The afterglow of France winning the 2018 World Cup tournament on July 15 should be gone by now. But the arguments over France’s 23-man squad, with as many as 15 players with African roots, rage on. The victory has ignited social commentaries on race, immigration and national identity across the international terrain. But it was a joke that set the cat among les pigeons. Two days after the final, Trevor Noah – host of the late-night American TV talk programme, “The Daily Show” – jokingly alluded to France’s World Cup triumph as an indisputable bilateral
“win-win” for Africa(ns): Africa won the World Cup… I get it, they have to say it’s a French team, but look at those guys. You don’t get that tan by hanging out in the South of France, my friends. As a British Nigerian – and as such part of the worldwide, transnational African diaspora community – I, along with multiple other Africans, both continental and diasporan, basked in the reflected glory of Noah’s sentiment as we congratulated the French team from afar. www.theafricanpro.com
However, the French Ambassador to the US, Gérard Araud, didn’t think the South African-born comedian’s joke was funny. He sent an indignant official letter to Noah the very next day saying that nothing could be less true than his quip about “an African victory”. He added: Unlike the United States of America, France does not refer to their citizens based on their race, religion or origin. To us, there is no hyphenated identity, roots are an individual reality. By calling them an African team, it seems you are denying their Frenchness.
This, even in jest, legitimises the ideology which claims whiteness as the only definition of being French. That evening on his show, Noah stood by his satirical comments. He argued that Araud was in fact tippexing out the African identities of the French players: Why can’t they be both? What they’re arguing here is: in order to be French they have to erase everything that is African. It’s this dual identity argument where the crux of the tension lies – an issue I’ve explored in my research on the identities of African diaspora communities.
Identity boundaries In his letter Araud said this to Noah about the African-rooted French players: By calling them African, it seems you are denying their Frenchness. As such, both ambitious and irrational,
Araud’s comments suggest that national identity transcends and supplants the assumed limitations of racial and ethno-cultural heritage. That it renders their heritage wholly irrelevant and unreconciled. A person is simply French – and unequivocally so. Within this speculative proposition, and unsolicited moral evaluation of the veracity of one’s identity, are we to assume that forward Kylian Mbappé’s Algerian and Cameroonian roots are annulled? Or, that midfielder Paul Pogba’s “Guineanness” is a mere figment of his “undiluted French” imagination? No. It would be utterly naïve and illadvised to arrive at such conclusions. If there is one thing that my research on the identities of African diaspora communities has taught me, it is that they are seldom tethered to the extremities of irreconcilably divided loyalties of “you’re either this”, or “you’re that”. Rather, identity boundaries for African minorities are necessarily www.theafricanpro.com
blurred, inconsistent, situationallydriven, provisional, dynamic and transformational. They often lend themselves to progressive hyphenation in strategic and unconscious ways. These convoluted identity configurations are appropriated and remastered by black and brown folk in their daily attempts to make “meaning” legible in their lived and racialised realities. Within this frame, it is important to understand that the African diaspora constitutes complex and multiplicitous identities. It is not for others then – especially white privileged others – to provide the unsolicited space within which their identities are defined, confined and deemed as comprehensible. Ultimately, this removes the agency of choice in African “Self ”-definition. It also renders all French-situated diaspora as a vast horde of undifferentiated masses devoid of individual intent. It begs the question, if it is true that “roots” are “individual reality” as Araud proclaims, then why implicate the French African
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players in all-inclusive assimilationist narratives? Where’s the individuality in that? Suffice to say, it is this hybridity that has affixed my “British” to “Nigerian”, “English” to “Yoruba”, and the “Afro” to my “European” – all coexisting in their complementary contradictions. If anything, the argument between Noah and Araud implores a rethinking in how France engages with identity, especially for African diaspora communities. It should go from treating it as a conspiratorial affront to its nationalism, and aspirations of a common peoplehood, to conceiving it instead as an enrichment.
By doing this, we consciously engage with African-descended minorities and their hybrid identities in ways that are as multiple and diverse as the football players that compose them.
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So yes, Noah is right. The players, and many other people, can indeed be both French and African.
South Africans differ on land reform. But there needs to be a meeting of minds Roger Southall (The Conversation)
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President Cyril Ramaphosa’s late night announcement that the government was going to push ahead with implementing a decisiontaken by the African National Congress (ANC) at its national conference last year to expropriate land without compensation has set the cat among the pigeons. Speculation is widespread that Ramaphosa gave in to the land expropriation without compensation proposition to appease a faction of former president Jacob Zuma which has positioned itself as a champion of “radical economic transformation”. There is also the view that Ramaphosa is out to promote party unity and to outflank the Economic Freedom
Fighters, to the party’s left, in the buildup to the 2019 general election. All this appears fair comment, and is no way unduly cynical. Politicians say things, whether or not it is entirely wise to say them, to get votes. Yet the land debate is about much more than party politicking. In many ways, it goes to the heart of South Africa’s post-colonial politics. It speaks to fundamental racial chasms. This points to the very real danger that the different terms on which the land issue is debated simply don’t address each other. It would seem to me that there are three broad approaches to which the land issue is debated – the instrumental, the www.theafricanpro.com
functionalist and the symbolic. All three approaches have a number of things in common. They all recognise the dangers inherent in the grossly disproportionate amount of land owned by whites, they accept that this has arisen out of the injustices of the colonial past, and agree that it needs to be addressed for reasons of both social justice and political stability. Beyond that there tends to be disagreement about ways, means and the urgency of land reform. It’s important to understand these different approaches and how they relate to the ANC’s proposed implementation of land expropriation
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without compensation. It’s particularly important for people who hold these different viewpoints to understand and find one another. South Africans can’t afford to let the land debate be reduced to a shouting match.
The instrumental approach This argues its case upon both ideological and constitutional grounds. There is the argument that the ANC’s move represents a fundamental undermining of property rights, to the extent that it might even threatenthe ownership rights of ordinary house-owners in urban areas. As such, it constitutes a major disincentive to investment and totally contradicts Ramaphosa’s highly-touted goal of attracting USD$100 billion in investment over the next five years. Furthermore, because of the threat to security it involves, the move will serve as major discouragement to commercial farmers, who are unlikely to pour money
into infrastructural improvements if they fear being expropriated. As such expropriation without compensation is a major threat to both jobs and economic growth. The property rights argument is backed up by those who posit that the considered constitutional amendment is unnecessary because the constitution already allows for the expropriation of property by the state for public interest purposes. This, the constitutionalists argue, gives the state all the armoury it needs to pursue land reform with urgent speed without threatening property rights.
The functionalist approach This says that there is a desperate hunger for land among impoverished black poor. This needs to be addressed on grounds of need and political stability. Economically, the argument is that, while www.theafricanpro.com
the role of commercial agriculture as the principal producer of the nation’s food supply and of significant exports need to be recognised, there are many areas where farming could be successfully undertaken by black farmers, given the right support. This perspective is steeped in history. It points out how white commercial agriculture was systematically advantaged by the state under white rule, and how prosperous black peasant communities, whose competitiveness constituted a threat to white farmers, were dispossessed.
It’s argued that there is much land available in South Africa which could valuably be transferred into private or communal black hands. Such land includes property owned by the state, land held by speculators, and farms which over the last two decades have shed most of their workers as they have turned over from direct food production to become game farms.
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The symbolic approach This angle to the debate appeals to the heart as much to the head. It harps on the point that land belongs to Africans. It was stolen by the colonialists and should be given back. The symbolic approach is overwhelmingly about African dignity. As such, it often involves notions of reparations. It tends to brush aside all the difficult policy issues about how land transfer should be managed, let alone the injustices which may be heaped upon white landowners who had nothing to do with the original theft of African land.
Meeting of minds Ramaphosa is well known for playing the long game, a pragmatist who is ready to bend to political pressures to achieve his long-term objectives. It may well be that he will bow to the
ANC imperative to pass a law allowing for expropriation without compensation. But he will want to make sure that it will pass constitutional muster. He will ensure that this amendment meets the requirements of the property clause in the constitution. From this perspective, it’s tempting to conclude that the huffing and puffing about the ANC’s pursuit of expropriation without compensation is really about nothing. But that’s not the case. The Zimbabwean experience confirms this. It was the Zimbabwean government’s lack of urgency about land reform in the first decades of independence which provided the backdrop to the war veterans’ seizure of white farms in the late 1990s. It was then that the Robert Mugabe government stepped in to give the land seizures legitimacy and to claim the credit. Much controversy attends the land question in Zimbabwe to this day. www.theafricanpro.com
Certainly, the post-2000 land reforms have not been a total failure. Nonetheless, what is beyond dispute is that the way they have been carried out has come at enormous cost to overall agricultural production. As such, the Zimbabwe mode of land reform is one South Africa cannot afford to adopt – or to be bundled into by a panic-stricken government scrambling to keep up with events on the ground. The address of the land issue requires a meeting of minds. The instrumental, functionalist and symbolic approaches all have their important role to play, and humility and willingness to listen to competing perspectives should be at a premium.
CESA Aon Awards creating legacies and honouring legends in the quest for engineering excellence
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The first ever CESA Lifetime Industry Achievement Award was presented posthumously to Ivor Evans, one of CESA’s past presidents who had served the industry with enthusiasm and passion his entire career. In order to promote the Consulting Engineering industry to young professionals, CESA recognises the contribution young engineers make to the industry and to the future of the profession. The winner is afforded an opportunity to attend the International Federation of Consulting Engineers (FIDIC) Infrastructure Conference. Airports Company South Africa (ACSA) sponsored the Young Engineer of the Year Award. The winner in the category of Young Engineer of the Year is Shamiso Kumbirai from Aurecon with Ntseuoa Motsieloa from Bosch Projects receiving a commendation. The category for Engineering Excellence with a value greater than R250 million was won by Aecom for the Construction of the Cape Flats 3 Bulk Sewer - Phase 2 with HHO Consulting receiving a commendation for the Upgrade of the N11 Section 10 from Middelburg to Loskop Dam.
The category for Engineering Excellence with a value between R50 million and R250 million was won by Aurecon for the Sol Plaatje University Library and Student Resource Centre. Commendations were awarded to Knight Piésold for the Rehabilitation of Main Road between Atlantic Road, Muizenberg and Clovelly Road, Clovelly - Phase 3; and to Royal HaskoningDHV for the Grayston Pedestrian and Cycle Bridge. The category for Engineering Excellence with a value less than R50 million, was won by Hatch Africa for the Tugela River Pedestrian Bridge with Naidu Consulting receiving a commendation for the Widening of the Tongati River Bridge. In the category of Best International Project, sponsored by the Built Environment Professionals Export Council (BEPEC), SMEC South Africa was announced as winner for the Sydney Metro Cable Stayed Bridge with Knight Piésold receiving a commendation for the Von Bach Dam Asphaltic Seal Replacement. Knight Piésold won the Business Excellence category with BVi Consulting Engineers www.theafricanpro.com
receiving a commendation. Naidu Consulting won the Mentoring Company of the Year, sponsored by Bosch Holdings with Knight Piésold receiving a commendation. Infraconsult Engineering was recognized as Small Company of the Year. In an effort to promote mentorship of young engineers CESA recognises the contribution Mentors make to the industry and the future of the profession. Graham Jennings from Knight Piésold is the Mentor of the Year. SANRAL is the Visionary Client of the Year. In recognition of the role that the media plays in the industry, Crown Publications received recognition for Publishing Excellence: Trade Publications and Tiso Blackstar publishers of Business Day received recognition for Publishing Excellence: Daily Newspapers. Knight Piésold was announced as the winner of the CESA Job Shadow Initiative with UWP Consulting as the 1st runner up and Hatch as 2nd runner up. CESA’s Limpopo Branch was named winner of the Branch of the Year Award.
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Will Zimbabwe’s messy election get messier – or will a new path be taken? David B. Moore
This is no way to end an election that promised to bring a bright new postcoup and post Robert Mugabe dawn to a blighted Zimbabwe – 50.8% for Zanu-PF’s Emmerson Mnangagwa to 44.3% for the contending Movement for Democratic Change-Alliance’s (MDCAlliance) Nelson Chamisa. After a drawn out count for the last constituency, a suspect tally for the supreme ruler. As for the Zanu-PF MPs’ sweeps across the rural areas resulting in a more than two thirds majority in the lower house of assembly (155 to
53), fears triggered by memories of the violent 2008 run-off remain real. Mnangagwa has been making gestures to Chamisa for “unity” or to play a crucial role in Zimbabwe’s present and in its unfolding future. He seemed furious when the police converged on journalists attending Chamisa’s presser at the subtly luxurious Bronte Hotel: the police apologised on Twitter very quickly. Yet dozens or more MDC-Alliance www.theafricanpro.com
supporters are running for their lives, or hiding in safe houses. This, just days after soldiers – not police – shot and killed at least six protesters and innocent bystanders. Some were shot in the back. What start is this for a regime promising Lazarus-like revival for the ruling party and its friends around the world – not to mention ordinary Zimbabweans? Yet there is an alternative: if Mnangagwa actually has the power he could call off the attack dogs and let the courts decide the merits, or not, of Chamisa’s case that the poll was rigged. This
might not itself result in a peaceful resolution, given rumblings that a coup is in the making led by Vice-President and (unconstitutionally) Minister of Defence, Constantino Chiwenga. But it would be better than allowing the soldiers out onto the streets in force. And it just could be that this is the tack. The MDC-Alliance’s lawyers will present their case on August 10. Mnangagwa is facing a sharp fork in the road. One hope he takes the right one.
The crackdown The crackdown’s current phase started on August 2. As the election results were trickling in, drunken soldiers beat up equally inebriated MDC-Alliance supporters in the “high density suburbs” (poverty-riddled townships or locations) around Harare, where the opposition party did overwhelmingly well. So much for the hypothesis that the poor soldiers would support their equally suffering brothers and sisters with the
long-struggling opposition, poised to take the chalice only a few months after Morgan Tsvangirai’s death. The crackdown continued the next day. An MDC-Alliance candidate in Chegutu challenged his loss, won on the recount, and proceeded to run away from rabid soldiers. Many more were chased in Harare’s townships, Marondera, and Manicaland. The Financial Times reported over 60 arrests, pointing to Chiwenga as the leader of the shakedown. It hinted at a coup – no surprise to many Zimbabweans.
A vice-president’s coup? Chiwenga has been the elephant in the room for a very long time. Many Zimbabweans say that Mnangagwa lives in fear of him. Lower ranking members of Zanu-PF in propaganda and intelligence don’t dare challenge this mercurial man with a history of suicide attempts, and more. Promoted to armed forces head by
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Mugabe well beyond his seniority and capability, but kept to one-year contracts to ensure his fealty, he waited until Grace Mugabe pushed her doddering husband into firing his long-time ally Mnangagwa – who was then vicepresident – in early November last year. Chiwenga returned from a China trip and then helped Mnangagwa in what the American Jesuit magazine called the unexpected, but peaceful, transition away from the nonagenarian ruler. Chiwenga has kicked out a good number of Central Intelligence Organisation operatives, suspected of loyalty to the “Generation-40” faction, which lost out with the coup. So too with the police, pared down through the year, That’s why the soldiers were called in last week. He’s been awaiting his due – the presidency – ever since, and he might be in a hurry. A demotion could ensue if Mnangagwa takes the royal road to respectability via a pleasant deal with the MDC-Alliance, whom the
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recalcitrant “war-vets” consider a cabal of imperialist puppets. It’s surprising that the local and international cheerleaders for the “military assisted transition”, with a lot riding on peace and goodwill after the election, seemed blissfully unaware of the power behind the already tarnished throne.
up each others whatnot and doing filthy things. It’s a very wild thing an (African) election. British officials, and their global compatriots, presumably don’t think like that anymore. But even if they don’t, they should have known that coups are prone to eat their own children. Yet there could be another road to take.
South African military intelligence are supposed to be well-connected with their counterparts to the north, and should not be prone to think like the British. The defenders of diminishing empire are more likely to think like Lord Soames, temporary governor of Rhodesia as Zimbabwe was on the cusp. His comments as Robert Mugabe came to power on the wave of a violent election in 1980 included the fact that he wasn’t surprised at bit of bloodshed. This isn’t Puddleton-on-the-Marsh. Africans think nothing of sticking poles
The other fork There is still time for Mnangagwa to change tack. The MDC-Alliance’s contention that the election was cooked will be tested in the courts. This, say Zimbabweans on the run, is what the soldiers are after: they are chasing copies of the V11 forms. These are the results of every polling station that were posted after the local count: they can be captured by anyone on site but are also transported to the Zimbabwe
Electoral Commission’s headquarters for the final count. The V11s might be Chamisa’s ace: he claims to possess a tally that will invalidate Mnangagwa’s slim victory. If the presidential praetorians are sure their man has won, why didn’t they allow Chamisa to present the papers to the constitutional court – stacked with Zanu-PF judges as it is? In any case this will happen at the end of the week and the presidential inauguration should be postponed. Mnangagwa is used to waiting for the right moment. He will have to move faster against Chiwenga than he did against Mugabe. If he’s too slow there could be a real coup, soldiers running rampant again. Or an electoral rerun? The choice might be Mnangagwa’s. Or it could be Chiwenga’s. No matter: it will be a game-changer.
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