Zandile Mafata, chief financial officer at the JDA, chats to Rudo Mungoshi about making tough money decisions, balancing the personal and the professional – and the compromises she has refused to make because of her gender.
Meet the woman at the JDA’s financial helm’The reason I am still at the JDA is because the work we do makes a difference in people’s lives’ – Zandile Mafata.When Zandile Mafata was promoted to chief financial officer in 2009, she became the second most senior female executive at the Johannesburg Development Agency (JDA).
Her tenure at the financial helm of the company has not always been plain sailing, but she has always found ways to make it work. “During the course of the past few years I have gone the extra mile,” says Mafata. “I have pushed myself, and have maintained a willingness to keep learning in my professional life.”
Being a woman CFO came with its own challenges, the biggest of which was “having to working twice as hard as my male counterparts, just to prove I can do it”.
However, Mafata has never felt held back by her gender, and always remains focused on her job performance. “Being a female has had no impact on my career at all,” she says.
While other functions typically involve special projects and events, and thus require more effort at certain times of the year, in finance there are weekly, monthly, quarterly and annual deadlines, all of which are non-negotiable.
‘YOU HAVE TO FACE THE CONSEQUENCES OF YOUR DECISIONS’
“Being a CFO comes with so much responsibility and accountability. It involves making difficult decisions that don’t make all people happy. You have to be mature enough to be objective, and be prepared to face the consequences for the decisions you make.”
Tact in managing multiple stakeholders, and skill in negotiation, risk mitigation and the intricacies of corporate governance are just some of the things Mafata has picked up in the course of her journey with the JDA.
Her most difficult decision to date, she says, was that the company would pay its staff performance bonuses only after the finalisation of the Auditor-General’s report. The innovation, a first among City of Joburg departments and agencies, “helped bring accountability … People avoided doing negative things because of the repercussions.”
Mafata’s love affair with figures started at school in Soweto, where she grew up. “At first I wanted to study economics at Rhodes University, but they did not offer maths at my school, so I ended up enrolling at the Soweto College of Education.”
After graduating with a diploma in education in 1990, she proceeded to study for her Bachelor and Honours degrees in commerce through the University of South Africa.
“After completing my diploma in education, I gave myself five years to complete my studies with the University of South Africa. I had no desire to remain a teacher for the rest of my life.”
Her first job in finance was with Pricewaterhousecoopers in 1996, where she spent six years as an articled clerk, laying down a solid foundation for her career.
‘IT WAS NO LONGER ABOUT MAKING MONEY’
She fell pregnant twice while doing her articles, making her the target of much gossip at the company, but she never deviated from her course. “My aim was to become a chartered accountant. It was no longer about making money, it became more of a self-actualisation need.”
In 2003 she was snapped up by Denel Optronics, where she worked as an accountant, before joining the JDA as a financial manager in 2005. In 2009 she was appointed chief financial officer.
“The reason I am still at the JDA is because the work we do makes a difference in people’s lives,” says Mafata. “The fact that I am dealing with public funds, and the responsibility that comes with it, makes me want to be part of the organisation.”
Next up is to complete her Certificate in the Theory of Accounting (CTA). “I have actually made a bet with my son on who is going to qualify first for the certificate.”
A mother of three, Mafata has somehow managed to strike a balance between home and family life. “I always tell myself I am a wife and mother before I am professional.
“Previously, I had a bad habit of carrying my laptop whenever we went for holidays out of the city. Then my daughter read the riot act. This made me realise how important my family is.”
Raised in a family of five by two hard-working parents, Mafata credits them with instilling in her the discipline and resolve that have helped her excel in life.
She also thanks them for teaching her the humility that has kept her grounded, and enabled her to enjoy the ordinary things in life – in her case, whenever she can make the time, baking and watching sports on television.