Dr. Naledi Mokoena, a beacon of resilience and strategic acumen, has been appointed the new Managing Partner and Chief Executive Officer of Sithandwa & Partners, a multi-billion rand accounting and advisory powerhouse in South Africa. Her appointment, effective January 1, 2024, marks a transformative moment for the firm and the broader professional services sector across the continent. This leadership transition places Dr. Mokoena at the helm of an enterprise valued at approximately R20 billion, capping an extraordinary journey from humble beginnings.
Background: A Testament to Tenacity
Early Struggles and Unwavering Resolve
Born into a modest family in Soweto during the late 1970s, Naledi Mokoena’s early life was marked by significant financial hardship. Her academic brilliance, however, shone brightly from a young age, fueling an ambition to pursue higher education. Faced with the daunting challenge of tuition fees, Mokoena embarked on an arduous quest for financial aid, meticulously applying for 144 different bursaries and scholarships across various institutions and corporate foundations. This period of relentless pursuit, often met with rejection, forged an indomitable spirit.
A Foundation of Excellence
Her perseverance ultimately paid off when the Ubuntu Education Fund, a newly established philanthropic initiative, awarded her a full scholarship. This life-changing opportunity enabled her to enrol at the University of the Witwatersrand (Wits), where she excelled, earning a Bachelor of Commerce (BCom) degree. She subsequently completed her Certificate in the Theory of Accountancy (CTA) and qualified as a Chartered Accountant (CA(SA)), laying the groundwork for a distinguished career in finance.
Ascension Through the Ranks
Mokoena began her professional journey as an articled clerk at Deloitte South Africa, one of the ‘Big Four’ accounting firms. Her exceptional analytical skills, dedication, and strategic foresight quickly distinguished her. She rapidly climbed the corporate ladder, moving from audit into advisory, where she specialised in corporate finance, mergers, and acquisitions. By the age of 35, she had achieved the prestigious rank of Partner at Deloitte, an unusually swift ascent within the highly competitive firm. Driven by a desire for deeper understanding and broader impact, she later pursued and obtained a Doctorate in Business Administration (DBA), with her research focusing on strategies for transformation and sustainable growth within professional services.
Key Developments: A New Era of Leadership
Sithandwa & Partners: A Legacy of Leadership
Sithandwa & Partners, established in 1978, has grown to become a formidable force in the South African and African accounting landscape. With over 5,000 employees across multiple offices and a diverse client portfolio spanning public and private sectors, the firm boasts a strong reputation for audit, tax, and advisory services. Dr. Mokoena’s appointment follows the retirement of Mr. Thabo Nxumalo, who successfully led the firm for two decades, overseeing significant expansion and market consolidation. The selection process involved an extensive national and international search, culminating in the unanimous decision to appoint Dr. Mokoena.
A New Era of Vision
Upon her appointment, Dr. Mokoena articulated a clear and ambitious vision for Sithandwa & Partners. Her strategic priorities include accelerating digital transformation, with a strong emphasis on integrating artificial intelligence and advanced data analytics into core service offerings. She also highlighted a commitment to talent development, fostering an inclusive culture, and expanding the firm’s footprint across key African markets. Furthermore, Mokoena stressed the importance of Environmental, Social, and Governance (ESG) principles, positioning the firm as a leader in sustainable business practices and responsible corporate citizenship.
Breaking Barriers in Boardrooms
Dr. Mokoena’s appointment holds profound significance beyond the financial realm. She becomes one of the very few Black African women to lead a firm of this magnitude in South Africa, particularly within the traditionally male-dominated professional services industry. Her leadership represents a tangible step towards greater diversity and inclusion at the highest levels of corporate power, challenging conventional norms and setting a precedent for future generations.
Impact: Reshaping the Landscape
Reshaping the Professional Services Landscape
Dr. Mokoena’s leadership is expected to have a ripple effect across the South African professional services sector. Her emphasis on technological innovation and ESG integration could set new industry benchmarks, compelling competitors to adapt and evolve. Her deep understanding of the local and continental business environment positions Sithandwa & Partners to navigate complex economic landscapes and capitalise on emerging opportunities, potentially driving broader economic growth and stability.
Inspiring a New Generation
Perhaps one of the most significant impacts of Dr. Mokoena’s ascent is the inspiration it provides. Her journey from applying for 144 bursaries to leading a multi-billion rand enterprise serves as a powerful narrative of perseverance, ambition, and the transformative power of education. She is poised to become a formidable role model for young South Africans, particularly women and those from disadvantaged backgrounds, demonstrating that with relentless effort, even the most ambitious dreams are attainable. Her story underscores the importance of investing in human potential and fostering an environment where talent can thrive irrespective of origin.
What Next: Strategic Imperatives for Growth
Strategic Imperatives for Growth
In her initial months, Dr. Mokoena’s immediate focus will be on stakeholder engagement, conducting a comprehensive strategic review, and consolidating the firm’s leadership team. Key initiatives include refining the digital transformation roadmap, enhancing client experience through innovative solutions, and strengthening Sithandwa & Partners’ brand presence across Africa. She is expected to champion a culture of continuous learning and adaptability, ensuring the firm remains agile in a rapidly changing global economy.
Navigating Future Challenges
Dr. Mokoena acknowledges the complex challenges ahead, including global economic volatility, intense market competition, and the accelerating pace of technological disruption. Her strategic vision includes proactive measures to address these hurdles, such as investing heavily in cybersecurity, diversifying service offerings, and attracting top-tier talent. Under her guidance, Sithandwa & Partners aims to solidify its position as a trusted advisor, driving value for its clients and contributing meaningfully to the socio-economic development of South Africa and the wider African continent.
