The Finance and Accounting Services Sector Education and Training Authority (FASSET) should be proud of the launch of their Women Legacy Leadership Programme. BBQ’s Ralph Staniforth sat down with FASSET CEO Ayanda Mafuleka and four women who have been impacted by the programme to find out more about the SETA’s desire to leave a lasting legacy.
The Finance and Accounting Services Sector Education and Training Authority (FASSET) is the Sector Education and Training Authority (SETA) for the finance, accounting, management consulting, and other financial services sector.
Established in April 2000 in terms of the Skills Development Act, FASSET’s vision is to facilitate the achievement of world class finance and accounting services skills, while its mission is to increase the flow of new finance and accounting services entrants to employment by developing and growing the skills required, and facilitating the transformation of the finance and accounting services sector.
At the helm of FASSET is Chief Executive Officer (CEO) Ayanda Mafuleka.
Appointed to the role in 2019, Mafuleka’s responsibility is to lead the SETA through a strategic delivery of its vision and mission. The achievement of this is through the outcomes guided by the Department of Higher Education and Training, in alignment with the National Skills Development Plan (NSDP).
Her mandate is focused on implementing skills development initiatives for the financial and accounting services sector, as well as responding to national skills priorities aligned to the NSDP and the 2030 National Development Plan (NDP).
For those unfamiliar with the Skills Development Act, it states that ‘the short supply of skilled staff is a serious obstacle to the competitiveness of industry in South Africa. The levy grant scheme aims to expand the knowledge and competencies of the labour force resulting in improvements in employability and productivity. This is achieved through new approaches to planning for training, learning programmes, incentives, and an improved employment service. If you participate fully in the scheme you will reap the benefits of a better skilled and more productive workforce’.
While Mafuleka has her key CEO duties and mandate to implement and carry out, an important aspect for her both professionally and personally is that of women empowerment.
Having experienced the difficulties faced in getting to where she is professionally today, Mafuleka admits that she has always wanted to pay it forward by creating environments that foster inclusion and advancement for women beyond just quota compliance. In essence, advocating for the intentional empowerment and advancement of women from all walks of life.
“FASSET research indicates that strides have been made in our sector in terms of women representation, however, these numbers start reducing the higher you go in the senior management tier. I am a firm believer in transformation across the board and in addressing the lack of women in middle and senior management positions,” she reveals.
As a result, Mafuleka has driven the implementation of the inaugural FASSET women legacy programmes:
- Women Legacy Leadership Programme: This programme focuses on the empowerment and development of women’s leadership skill sets. It is implemented through a strategic partnership with the Wits Business School (WBS) and International Women Forum of South Africa (IWFSA)/Duke Corporate Education. A targeted number of 2 000 women will go through the programme.
- Women Wealth Creation Programme: This programme focuses on economic inclusion of women in the Small, Medium, and Micro Enterprise (SMME) space. FASSET has partnered with the Graça Machel Foundation to deliver this impactful intervention, aimed at 600 women led SMMEs in the financial services sector.
“These two programmes leverage leadership education to empower young women in both the private and public sector, as well as growing and strengthening female-led businesses to be competitive and robust; thereby contributing to the economic growth of South Africa,” Mafuleka states.
“This becomes a form of inspiration to lift others as we rise. In captaining such initiatives, I know I am fulfilling my responsibilities in serving my country and the world at large.”
In terms of the Women Legacy Leadership Programme–which is open to Black African women who are employed by a FASSET constituent employer or employed within the finance sector–Mafuleka is aiming to see a “generational impact”.
As the programme aims to provide women with a competitive edge as they prepare for their journey up into the executive level of business, it will enhance their knowledge base and provide candidates with a level of confidence to ensure they actually reach the very top.
“The course material is curated by our implementing agents and covers a wide spectrum of disciplines that also encapsulate social and leadership skills through mentorship. The mentorship element is designed to offer support and access to established women leaders. IWFSA have included a global immersion component which exposes our beneficiaries to best practices from other parts of the world,” Mafuleka explains.
“I envision the legacy programme creating a network of empowered individuals who will continue to uplift and inspire others, ensuring that the legacy of change endures for generations to come.”
In order to find out more about the incredibly promising Women Legacy Leadership Programme brought to the table by Mafuleka, Black Business Quarterly (BBQ) spoke to four women enrolled with FASSET for the programme. These are their stories…
“The programme has challenged me”
Olwethu Mbenyana is an accountant and finance business partner for the Technology and Solutions Division at Competitive Capabilities International (CCI).
Her role includes preparing accurate and timely financial information that supports the business’ strategic decision-making. Her position addresses tight deadlines and an array of accounting activities, including general ledger maintenance, year-end audit preparation and schedules, budget preparation, team management, analysis, month-end close process, and cashflow forecasting.
Taking part in the Women Legacy Leadership Programme has assisted Mbenyana greatly in gaining an understanding of what the higher echelons of business entails, and has challenged her to foster a greater understanding of who she is in the workplace. “It has highlighted the importance of my role as a middle manager in the business. I have the responsibility of interpreting high-level management plans into daily actions for the team. The programme has challenged me to be a better ally and to understand my capabilities and limitations,” she reveals. Mbenyana is forever grateful for FASSET’s existence, as she admits that she has been given opportunities which many others in her position have not been fortunate enough to experience.
“I believe there is still room for women to develop across the board. There are opportunities for women in the finance sector, but a lack of awareness regarding these opportunities makes it difficult for women to participate in them and further develop themselves. I was privileged enough to benefit from the opportunities that are offered by FASSET because I was doing SAIPA articles at the time. It is programmes like these that make it possible for women to develop into ethical and effective leaders in modern society,”
Mbenyana states. For more women like Mbenyana to be given the chance to really showcase their abilities, transformation is vitally important. On the subject of transformation, Mbenyana believes that we can only become an equal society when opportunities arise for the best candidate–and not purely because a box needs to be ticked.
“To me, transformation means having equal opportunities available for me based on my competencies and the value that I bring, not just because I am a woman. FASSET has enabled me to develop into a leader that gives people an equal chance to voice their opinions and share ideas that will bring about change and advocate for diversity,” she explains. Looking to the future, Mbenyana believes a collective effort is required to support women in their quest to attain their goals. While she is of the opinion that initiatives such as FASSET’s Women Legacy Leadership Programme are a fantastic step in the right direction, the reality is that the rest of society needs to learn from FASSET and join the cause.
“I believe that we are doing something to help women achieve their goals, but there is still a continuous need to develop and support women. For as long as there are significant differences in the salary scales, leadership roles, and lack of inclusion of women in executive roles, there will always be a need to close the inequality gap, as it is a critical discussion as we transfer our society as per the 2030 agenda for sustainable development,” Mbenyana says. With regards to her own future, Mbenyana is now well placed to take her learnings from the Women Legacy Leadership Programme and put them into practice.
She concludes: “My goal is to become a leader that will inspire and empower women; women who will in turn lead effectively while remaining authentic to themselves. My goal is to have a positive impact on the lives of people in my community and the peers I meet throughout my professional journey going forward.”
“I have learned to be more confident”
Tshiamo Sebitlo is currently an assistant finance manager at Imperial Logistics. Her role is to support the overall financial management of the organisation, ensuring that the financial operations are accurate and functioning effectively, maintaining compliance, and providing support to the organisation. Sebitlo’s exposure to FASSET has come solely through the Women Legacy Leadership Programme, which she admits has been a real blessing on both a personal and professional level.
“My exposure to FASSET has been primarily through the Women Legacy Leadership Programme,” Sebitlo explains. “It has provided me with a platform and like-minded females who I could openly have certain conversations with. As an African individual, you walk into rooms knowing that you are already entering on the backfoot, but entering rooms as an African female has an additional layer of complexity whereby people do not value your input. Through the programme, we openly discussed our struggles in the corporate environment and found solutions to how we could make the change we want to see in our society.” As the Women Legacy Leadership Programme at FASSET aims to empower women within the corporate environment by providing them with the skills, knowledge, and support necessary to excel in leadership roles, Sebitlo took to it like a duck to water.
“Firstly, as the programme primarily focuses on developing leadership skills, I was delighted to be selected as the leader of my syndicate group, which I believe enabled me to assist the other ladies in my group in areas in which I believe they required some direction or assistance. I truly believe that the greatest leaders can step back and allow others to take the lead, as one can only truly learn through experience.
“Secondly, I have benefitted from this programme as I have had to learn to be able to communicate more effectively in my day-to-day tasks and to be more confident in relaying pertinent information to the end user. In my way of thinking, I have learned to be a more strategic thinker who is able to provide value added insights in decision making activities.
“Thirdly, thanks to this programme, I have had the opportunity to meet an array of brilliant, like-minded females with whom I was able to network with. From supporting each other’s businesses to sharing job vacancies that would potentially be the stepping stone for another female in the programme to advance in her career, it has been truly rewarding.
“Lastly, on numerous occasions, we have had to present to our fellow colleagues on an array of topics. This is an area of development for me, but through the programme, I have learned to be more confident in speaking to a crowd or delivering a presentation.” A big part of “being better people to each other” involves building each other up and creating support networks to ensure no one is left behind. Sebitlo believes that there has been some progress made towards gender equality, but she does not believe that there has been enough to help a sufficient number of women to achieve their goals.
In the workplace, there is still heavy gender bias and stereotypical views that hinder a woman’s ability to hold certain positions or excel in their careers. This is evident by leadership positions and the leadership structure of various organisations.
Sebitlo feels that if there is a female in that structure, she will hold that position for a significant amount of time and no other female will be able to “come up”. This emphasises the fact that in as much as society needs to do better, “women as well are heavy contributors to the problems we face”. She explains: “Once they get to influential positions, they do not want to shake the waters and bring other females up into these positions of influence, forgetting that they once complained about not having equal opportunities to achieve their goals in society. A further issue is that mentorship and networking opportunities are extremely limited, so how are women expected to break barriers and achieve their goals in industries that are dominated by males without adequate support?
“In addition, women are still viewed as individuals who will struggle to balance work and their personal life–a husband and children. During a recent job interview, I was asked if I had any children and when I said no, the interviewer said: ‘So, if I hire you, we will be dealing with maternity leave?’. I doubt that any male counterpart would have been asked the same question…”
In terms of what the future holds, Sebitlo is determined to be resilient and focused on reaching the top and breaking the barriers that keep so many women confined to positions they have outgrown. She believes that we, as a society, need to create areas of excellence and create enough space so that other women can step in and excel.
“I believe in seizing opportunities that are presented to me and taking calculated risks that will ultimately assist me in being the best version of myself that I can be. I am extremely ambitious, so I wholeheartedly believe that I will ultimately reach and smash my personal goals, but, equally so, I know that I will play a part in breaking those stereotypes and challenging the societal norms that are currently in place… even if it means that I may not even be alive to see the impact of my actions,” she adds. In parting, Sebitlo left us with an incredibly apt quote which sums up how important it is to be self-confident on your journey to success. “We can only change things by making a difference where we are placed, no matter how small the impact may seem,” she concludes.
“The programme has empowered me to better navigate challenges”
Dineo Sekwele is the Group HR Executive for Nutun, a global Digital Business Service. In her role, Dineo is responsible for the HR functions for the entire group, supporting roughly 7 000 employees based across three countries. She leads a team of HR professionals across the business that contributes to the overall company vision, supporting cross-functional business objectives by developing executable HR strategies. Dineo is grateful to have been given the opportunity to take part in FASSET’s Women Legacy Leadership Programme as it has exposed her to different facets of the business world, and enabled her to build networks that will help her to succeed in both her career and personal life.
“The programme has empowered me to better navigate my day-to-day challenges and assist me in problem-solving, as well as enhancing my decision-making capabilities,” she says. A highlight for Dineo over the course of her journey with the programme was her experience into how Singapore operates on a business level. This was made possible thanks to FASSET’s partnership with the International Women Forum of South Africa (IWFSA).
“The Singapore exposure has enriched my experiences and greatly expanded my appreciation of how effective best practices are, enabling a country like Singapore to progress quickly and become the powerhouse it is today,” she adds.
“I was asked to moderate a panel discussion, forcing me to learn more about the country and practices assisting me in being more prepared for the panel discussion. The exposure enabled me to learn more about myself, while empowering me to pursue and address issues and challenges that we face daily in our work environment, as well as within the communities we operate in.”
As the programme was structured in a way that encourages discussion, the sharing of ideas, and group participation, the lessons learned by all attendees are invaluable and will long form part of their careers. Those are the key takeaways for Dineo, as she is now in a position to communicate in her role in a far more experienced manner.
“In addition, I learnt that the inclusion of women in leadership roles within a corporate environment provides rich and diverse thinking, leading to greater benefits in increasing business performance and the overall growth of companies we all can be proud of,” she states.
While she may have only taken part in the Women Leadership Programme, Dineo admits that she is grateful for the other work FASSET carries out in terms of the development of women and marginalised groups. “FASSET provides various development opportunities within South Africa, including learnerships for unemployed learners, which equips them with the necessary skills to become employable within various organisations. Then there are learnerships for the employed, allowing them to build and enhance their required skills within organisations, including learnership programmes for people living with disabilities. They offer bursary programmes that look at building and addressing critical skills shortages in South Africa, as well as offering support to academic programmes, which leads to the completion of qualifications for many,” Dineo explains.
Sadly, we all know that South Africa has many problems on many different levels. There is no magic formula to getting things right, but we can head in the right direction with the right people making a stand for what they believe in. For Dineo, she is determined to work towards a change in the current speed of equality and inclusion of women in leadership roles–and we applaud her for that.
“I believe women lead differently and bring a variety of perspectives and ideas to the table, leading to better decisions being made and the solving of important problems. Furthermore, as we continue to empower women, we intentionally strengthen businesses, the economy, and the communities in which we operate and live,” she states. With a new outlook on life and work following her participation in the FASSET programme, and a desire to create opportunities for others, what does the future hold for Dineo?
The answer is simple: she wants to lift as she rises. “I would like to participate in various speaking platforms both locally and internationally, enabling me to strengthen my leadership skills to become a more effective leader and serve on various boards. Additionally, I would like to continue to learn from others and impart the knowledge I have gained to up and coming leaders,” she adds.
“The programme has helped me become more visible”
Simphiwe Mahlangu is an associate director at BDO in the assurance division, where she manages client relationships, efficiently plans and carries out external audits, and ensures quality and compliance.
She sits on the BDO National Leadership team in their IT Centre of Excellence and is responsible for information system reviews, as well as ensuring the effective use of technology in their audits.
She explains: “Digitisation and the use of cutting-edge technologies boosts efficiency, and this allows the auditors to focus on exceptions, add value, and the overall improvement of audit quality. I play an integral role in business development, including seeking out novel opportunities for collaborating with businesses and contributing to the creation and delivery of proposals.”
Her duties also include mentoring audit trainees, which is something close to her heart, as she is an advocate for the development of people. She also serves on the BDO Graduate Recruitment Committee, where she makes sure that the organisation identifies and provides opportunities for bright students to join the firm. This desire to help others reach their potential has been aided by Mahlangu’s participation in the Women Legacy Leadership Programme.
The programme has given Mahlangu a new sense of confidence to carry out her duties, while at the same time has afforded her the chance to grow into the type of leader she has always been destined to become. “Most boardroom tables are dominated by males. It’s easy to feel a sense of self-doubt or imposter syndrome when it comes to assuming a leadership position. The programme has helped me develop my confidence by providing a supportive environment where I could share my experience, learn from others, and gain necessary tools to excel in my role,” she reveals.
“The Women Legacy Leadership Programme has helped me become more visible, boost my self-confidence, and provided me with access to a network of amazing women in leadership who I’ve kept in touch with and who have helped me widen my professional network; all of which will help me achieve my future goals.” Another key aspect of Mahlangu’s growth through her Women Legacy Leadership Programme journey has been her ability to solve problems using a new way of thinking and assessing situations.
While she has always had a level head when it comes to dealing with adverse situations, the programme has clearly fine-tuned her skills and has created a well-rounded individual ready for her seat at the top table.
“My mantra is bite-sized. My first obstacle when presented with a dilemma is to recognise and accept the situation at hand. I then make an effort to comprehend, replay, and divide it into more digestible chunks. In order to discover a solution, it’s crucial for me to be proactive rather than reactive, therefore I make sure to concentrate on the underlying reason. My family is a major source of support, while I actively look for professional coaching and mentoring. I also see the need to maintain a good mental health; taking time for yourself and getting therapy is important,” Mahlangu avers.
In order to keep the fundamentals of the Women Legacy Leadership Programme alive, Mahlangu believes more needs to be done across the board in addressing workplace transformation. This is particularly true in the finance and accounting sector.
For this to happen, Mahlangu feels black professionals and women need to be the targets of transformation strategies, as they are the ones who, sadly, are still in need of the most support.
“Workplace transformation is a crucial instrument for addressing the problem of economic inequality. Organisations should give previously disadvantaged people, particularly black professionals and women, platforms for opportunities and growth through encouraging diversity and inclusiveness in the finance and accounting sector,” she continues.
“In recent times, we are also faced with black privilege, whereby success stories are coming from students who attended prestigious private schools. Corporates need to dig deeper, finding and investing in talent and creating opportunities for the truly disadvantaged. This is where true transformation lives.
“I would also like to see a shift in focus to seeing talent. We can build a more accepting culture that supports women from all walks of life if we place a strong emphasis on treating each person as an individual and champion gender equality from an early age.”
Looking to the future of empowerment
After hearing the inspiring stories from the four women above, FASSET CEO Mafuleka is of the hope to one day get to a point where women no longer have to prove their worth, and are no longer provided with opportunities simply to fill a quota.
When this is achieved, there will not be a need to celebrate news of the ‘first woman’ to occupy an executive or board role, as occupying that space will be the norm.
She states: “To achieve more equity, the roles of women need to be defined in line with their agency and more participation in economic platforms will drive this sought-after equity. This in turn holds promise to address the scourge of gender-based violence, which is largely driven by earning disparities, as well as paternalistically-defined roles.”
Until such a point is reached, Mafuleka’s message to the young women of South Africa is one of resilience and creating an environment which not only benefits yourself, but the generations to come; much like she is doing with the legacy programmes.
“Young women need to occupy space, build a foundation for future generations, pay it forward, and leave a legacy while enjoying all that is at their disposal to change the status quo. Remember to believe in yourself, your ideas, your leadership, and do not shy away from learning more about yourself and the world as you go along,” she offers as advice.
In terms of what the future holds for Mafuleka and FASSET, key to any future success is ensuring that the SETA delivers on its mandate in the most impactful and beneficial way for its stakeholders and benefactors.
It also doesn’t hurt to continue pushing the boundaries of empowerment and creating an equal working environment for all.
“Implementing innovative programmes towards nation building and transformation in the financial services sector is so important to future success. FASSET maintaining good organisational performance and positive audit outcomes and improving on the corporate culture of the organisation and brand equity of FASSET is all vitally important. As we collectively undertake a journey of excellence as an organisation, the achievement of being an icon of excellence in the public sector is a sought-after achievement,” she concludes.
And we believe you will have no problem in achieving all your goals in the future.
The FASSET story
FASSET is the Finance and Accounting Services Sector Education and Training Authority. The finance and accounting services sector is particularly important because it is the largest employer of people with financial management, accounting, and auditing skills. In 2018, more than 168 000 people worked in the sector. The demarcation and definition of this sector differs in the different data sources available, as well as in different environments. In the national accounts and in employment surveys conducted by Statistics South Africa (such as the Labour Force Survey [LFS]) the sector includes real estate activities and an array of other business services such as labour brokerages, information technology services, legal services, and engineering and architectural services. The Financial and Accounting Services Sector refers to the organisations served by FASSET. This sector includes: investment entities and trusts and company secretary services; stockbroking and financial markets; financial development organisations; accounting, bookkeeping, auditing, and tax services; business and management consulting services; the South African Revenue Service; the national and provincial treasuries; and other activities auxiliary to financial intermediation, such as debt collection.
Vision: To facilitate the achievement of world class finance and accounting services skills.
Mission: To increase the flow of new finance and accounting services entrants to employment; develop and grow skills required in the sector; and facilitate the transformation of the finance and accounting services sector.
Values: Professionalism and Accountability: FASSET are a high-performance, professional team that strives for excellence through hard work and by taking responsibility and being accountable within an accepted and agreed code of conduct.
Ethics: FASSET works with integrity, honesty, and respect towards internal and external stakeholders at all times.
Making a Difference: FASSET makes a difference to the lives of all of their stakeholders by identifying their needs and exceeding expectations.
Valuing People: FASSET strives to create a motivating and supportive culture by understanding, respecting, developing, and valuing each other.
Innovation: FASSET continuously innovates and improves to add value to all of their stakeholders.
