Alumni movers and shakers
ZWELAKHE MNGUNI: DISTINGUISHED ACCOUNTANCY ALUMNUS MAKING A DIFFERENCE AND PAYING IT FORWARD
After matric, Mnguni didn’t have the funds to further his studies. At that time, his parents were both unemployed. His mother had just been retrenched, and his father had been diagnosed with diabetes. “My father used to sell firewood to help us survive. I did quite well in school. Back then, having just a matric gave you the sense of wanting to achieve more after schooling,” he reflected. There was a community member running a project for learners who had completed their matric. Mnguni enrolled in a security academy, completed the security training courses, and then started working as a security guard to save for his further education. “Sometimes, as individuals, we underestimate the impact of having a clear plan. Having a plan when I worked as a security guard made a huge difference for me emotionally because it kept me focused.” Mnguni holds a BCom Honours degree in Financial Management from the University of Cape Town and a BCTA from Rand Afrikaans University (RAU), now known as the University of Johannesburg (UJ). Mnguni mentioned that while studying Accounting at RAU, he excelled in Management Accounting because his experience working as a security guard allowed him to visualise accounting and business processes in real-time. He believes that the foundation he received at UJ in subjects like Accounting, Auditing, and Management Accounting were the most critical skills for his success. Throughout his career, Mnguni has worked for prominent companies in South Africa such as Alan Gray and Stanlib. Prior to co-founding Benguela, Mnguni served as the Head of Equities and as Portfolio Manager at Mergence Investment Managers, overseeing over R10 billion in equity mandates for clients. Before his roles at Mergence, he held positions as a Portfolio Manager and Equity Analyst at Stanlib and spent four years as an Equity Analyst at Allan Gray. His career in financial services began as a graduate intern at Cadiz Holdings. Mnguni co-founded the Benguela Global Fund with the goal of creating a business focused on global investing, while creating good quality jobs for South Africa. He mentioned that the first employees of Benguela Global Fund Managers were UJ graduates because he believed that it offered great education and basic skills. Mnguni stressed the value of hard work and determination, highlighting the importance of hiring finance and economics graduates from UJ and other universities to contribute to the development of post- apartheid South Africa. He expresses the belief that Benguela Global Fund is a national asset for investment management services, skills development, and socioeconomic upliftment, aligning with Nelson Mandela’s vision of a rainbow nation. Mnguni emphasises the importance of unity and hard work in building a brighter future.
If you ever needed a reminder that diligence and hard work pay off, let Zwelakhe Mnguni’s story serve as your motivation. Zwelakhe Mnguni grew up in a Sebokeng squatter camp. After school, he worked as a security guard for four years to save money for his studies. Today, Mnguni is one of the founders of Benguela Global Fund Managers and serves as its Chief Investment Officer (CIO) with over twenty years of investment experience. Building a successful career was not easy for Mnguni. His humble beginnings fuelled his drive to push himself and dream big. His educational journey began in the Vaal but ended up at a farm school near Kroonstad. This change was due to the 1986 black power riots in Sebokeng, as his parents sought to ensure his education continued without disruption. “From home in Sebokeng, my three cousins and I briefly attended school on a farm because we arrived too late (just after Easter holidays) for the township schools to admit us. We then went to nearby township schools in Edenville and Heilbron for six years before returning to the Vaal in 1993,” Mnguni said.
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