Tito Mboweni branded the CEO of South Africa by Mazars Senior Partner

31 January 2019 Consultancy.co.za

Global accounting and consulting firm Mazars organised a panel discussion in Cape Town in anticipation of the first budget speech to be delivered by South Africa’s new Finance Minister Tito Mboweni, an event where a Senior Tax Partner at the firm described Mboweni as the CEO of South Africa. 

Much is riding on Tito Mboweni’s upcoming budget speech. Most are wondering about changes in the revenue policy amid a sea of varying predictions. Tax rates were increased last year to mitigate the decline in government revenues, and several measures have been taken since then to prevent defaults.

Some expect further hikes in both tax rates and interest rates in the budget, while others anticipate changes in other dimensions of the tax policy such as an increase in taxes on expats. Nevertheless, Mboweni must balance these considerations with the goals of President Ramaphosa to substantially boost levels of foreign investment.

Tito Mboweni branded the CEO of South Africa by Mazars Senior Partner

Mazars believes that Mboweni is more than capable of finding this balance, touting him as the stable figure that South Africa has been in need of for several years. “We have had significant instability in that position for years. There was a long period of instability from 2008 to 2014,” said Bernard Sacks, Senior Tax Partner at Mazars.

Mboweni was only appointed as Finance Minister late last year, only two weeks prior to the mini budget that was due in October, rendering him unable to implement any significant changes at the time. Mazars is more hopeful about his capabilities for this budget now that he has had time to assess the economic scenario.

“I am hopeful that Mboweni will steady the ship. He had a good stint at the Reserve Bank and impressed the international community there. I believe he can introduce measures to stimulate growth because there is limited opportunity to increase taxes,” said Sacks, labeling him the CEO of South Africa.

“He viewed his position as a short term stop gap. A three-year period would be sufficient for him to steady the ship, cement his policy, get South Africa on the path to growth and during that time groom the next minister of finance for one of, if not the most important position in Cabinet,” added Sacks, despite the fact that Mboweni has expressed his contempt for “recycling leadership.”

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Palesa Madumo and Tshepo Sefotlhelo take the helm at Vuma Reputation Management

18 April 2019 Consultancy.co.za

Two years after a change in ownership, South African public relations consultancy Vuma Reputation Management has announced a change in its senior leadership. Palesa Madumo and Tsehpo Sefotlhelo take over as joint CEOs at the firm to replace incumbent CEO Janine Hills.

Vuma was established in 2005, and has grown into a successful public and reputation management firm. The firm’s services include media training, stakeholder management and crisis communication, among others. In 2017, the firm underwent a change in ownership to improve its compliance status with the B-BBEE framework.

Janine Hills, who founded the company in 2005, has now stepped down from her position as CEO. Hills is a former executive in the hospitality sector and has also worked for telecom giants Vodacom in the past. Her goal with Vuma was to leverage her nearly three decades of experience to helo firms across South Africa with managing challenging economic scenarios.

Now, Hills believes it is time for her to step down from her position at the helm. She will be replaced by Palesa Madumo and Tshepo Sefotlhelo, who will act as joint CEOs. Madumo holds a degree in Management from Stellenbosch University and has over 15 years of professional experience.

Palesa Madumo and Tshepo Sefotlhelo take the helm at Vuma Reputation Management

She has communications consultancy experience, and has been the Head of Group Communications at Business Connexion. Sefotlhelo is also a highly experienced professional, having worked in the media relations domain for a number of years, including at Ogilvy public Relations.

He was a Business Director at Ogilvy, and will now take over at CEO. He holds a degree in marketing from the University of Johannesburg. As the new CEOs take over, Hills will remain on the board of Vuma, where she will continue to play an active role in organisational decisions.

“A good leader knows when to pass the baton to the next generation of leadership. It is time for the Executive Directors to take over and I am confident that they are well equipped to take Vuma Reputation Management to greater heights,” said Hills.

“We would like to thank Janine for her vision, leadership and confidence in our capabilities to lead Vuma following her years at the helm. This is a great example of what can be achieved through a true commitment to transformation. Having been in the business for years, Palesa and I have the skills and experience to scale the company and ensure its sustainability into the future,” added Sefotlhelo.

 

Madumo said of her promotion, “Working off an excellent foundation makes our roles - to continue providing excellent service to our valued clients and stakeholders and ensuring that the organisation has skilled and happy people working in it, an exciting prospect.”