Pheliswa Mthethwa, the Chief Executive Officer of the National Empowerment Fund (NEF), is stepping down at the end of the year. Her departure marks the end of an extraordinary tenure that has positively impacted the lives of thousands of aspiring black entrepreneurs and contributed significantly to South Africa’s economic growth. In this article, we celebrate her achievements and legacy.
Transformative Leadership
Under Mthethwa’s expert guidance, the NEF has approved multi-billion Rand investments in Black Economic Empowerment (BEE) funding, ultimately creating a thriving pool of black industrialists and entrepreneurs. These achievements align with the vision of the late state President Nelson Mandela, who aspired for a prosperous society that lifts black people out of poverty.
During her fruitful reign, Mthethwa has overseen the approval of over R13.75 billion in investments for black entrepreneurs, along with R12.6 billion in company investment to support emerging black industrialists. The NEF’s efforts under Mthethwa’s leadership have generated more than 124,276 jobs and organized 8,679 public engagements on saving and investing in underprivileged black communities.
Recognition and Awards
Mthethwa’s tenure has not gone unnoticed, earning her numerous accolades. She was named the 2019 CEO of the Decade by the Association of Black Securities and Investment Professionals (ABSIP), 2017 Woman of the Year by ABSIP, and 2011 Corporate Businesswoman of the Year by Africa Investor, among others. These prestigious awards highlight her exceptional contributions to the field and her unwavering commitment to empowering black entrepreneurs.
Lasting Impact
Mthethwa’s dedication to promoting economic growth in townships, rural areas, and cities has made a lasting impact on the lives of countless South Africans. Her leadership and exceptional work toward the country’s transformation agenda have left an indelible mark on South Africa’s business landscape.
Minister’s Tribute
In a heartfelt tribute, Minister for Small Business Development, Stella Ndabeni-Abrahams, acknowledges the void that Mthethwa’s departure will leave in the sector. However, she remains hopeful that Mthethwa’s expertise will not be entirely lost, and that her capabilities will continue to be tapped into as needed. The Minister’s words encapsulate the essence of Mthethwa’s impact, “Amaqobokazana angalala endleleni, yazini kunyembelekile!” – a fitting tribute to a remarkable leader.
Legacy of Progress
Pheliswa Mthethwa’s tenure at the National Empowerment Fund has been transformative, empowering black entrepreneurs and contributing significantly to South Africa’s economic growth. As she takes her final bow from the development financing stage, her legacy is cemented as one of progress, empowerment, and lasting change for South Africa’s aspiring black entrepreneurs. As we celebrate Women’s Month, let us recognize trailblazers like Mthethwa, who exhibit selflessness and tenacity in their fight for economic development and growth.
