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03 January 2023 | Story Charlene Stanley | Photo Supplied
Vuyelwa Vumendlini
Vuyelwa Vumendlini, Alternate Executive Director at the International Monetary Fund in Washington DC.

High-profile positions at National Treasury, the World Bank and now also the International Monetary Fund in Washington, mark an illustrious career for UFS Economics alumna, Vuyelwa Vumendlini.

“Go in full force, hands and feet, and accept this opportunity of a lifetime. You won’t regret it.” These words of Dr Minette Smit, her thesis supervisor, proved to be pivotal advice to a young Vuyelwa Vumendlini. At the time, she was doing her BCom Honours in Economics (1996-1999) and was presented with a scholarship opportunity to complete her master’s degree in the USA.

“I was afraid to leave my home and my comfort zone,” she explains. “But looking back, I’m extremely grateful to have taken that step.”

Her studies culminated in an appointment as Senior Adviser to the Executive Director at the World Bank, then Deputy Director-General: International and Regional Economic Policy at the National Treasury, and now as Alternate Executive Director at the International Monetary Fund (IMF) in Washington DC. As an IMF executive board member, Vumendlini represents 23 English-speaking African countries that are members of a constituency. The Executive Board of the IMF has 24 chairs, representing 24 constituencies from its 189 countries’ membership. Among her duties are considering policy issues and surveillance reports, as well as approving and monitoring IMF programmes involving lending and/or technical assistance.

Since this is the second stint in Washington for her and her children, Simphiwe, Enhle, and Anele, settling down was much easier. “Because of the COVID-19 isolation, we were kind of used to being alone at home, so we didn’t find the solitude that bad while we were still making new friends.”

She misses South African food the most – things like biltong and boerewors – and the proximity of favourite restaurants like Ocean Basket and Mugg & Bean. She has fond memories of her study years, working as an assistant in the Department of Economics, hanging out at Mooimeisiesfontein on Saturdays, and building rag floats for Vergeet-My-Nie and Kestell residences. Plans for the future include tackling her PhD in Economics.

Her advice to UFS students: “Be up to date with what is happening around you. Do not be afraid to do things differently. Be agile in your approach to achieving your career aspirations and be ready to take on those opportunities when they present themselves.”

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#Women'sMonth: Kovsie entrepreneur making waves in business world
2017-08-25

  Description: Akhona new Tags: entrepreneurship, business, accounting, awards, academy, women

Akhona Monakalali to take on the business world.
Photo: Rulanzen Martin

Whoever came up with the idea that ‘a woman’s place is in the kitchen’, has definitely not met Akhona Monakalali. Monakalali, a postgraduate student busy with an Accounting diploma on the Bloemfontein Campus of the University of the Free State (UFS), is a force to be reckoned with. She was born in Katlehong Township in Gauteng, and moved to Aliwal North in the Eastern Cape a few years later. 


Making international waves in business

Monakalali is a Professional Accountant and an entrepreneur who continues to make her mark in the entrepreneurial world. She just recently participated in the Progressive African Network’s (PAN) Annual African Entrepreneurship Expo in Boston, USA, which was hosted by PAN and the Hult Women in Business Club. She was invited to the expo to share her insights on entrepreneurship in South Africa. “I and four other Africans participated in the expo via Skype. It was a very successful event and very insightful,” she says.

Awarded for positive contribution in communities
While she was doing her undergraduate degree, she was elected as the President/CEO of the Golden Key UFS Chapter in 2007. After competing with other universities in the national championships, they won and qualified for the Students in Free Enterprise (SIFE) World Cup in New York City. SIFE is an international non-profit organisation working with university students who want to change their communities positively, and gain practical knowledge to become socially responsible business leaders. 

This international acknowledgement influenced her peers – among millions of other South African teens – to vote for her in the Seventeen Magazine’s Top Teen Achiever Award for her community contribution. Later in that same year, she received a special Service Leadership Award from the Dean of her faculty for her contribution towards creating a better world through business.
She has since established an in-home tutoring foundation called Monakali Academy, which offers parents and struggling students affordable, one-on-one tutoring in the comfort of their homes.
“Tutoring is performed in the student’s home in order to provide a comfortable and non-competitive environment for learning,” says Monakalali.
She will also be involved with various entrepreneurs throughout Africa, working on ways to improve youth entrepreneurship on the African continent.

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