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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.”

News Archive

International organised crime expert speaks at our university
2011-07-25

 

Prof. Johann Henning, Dean of our Faculty of Law and Prof. Barry Rider.
Photo: Leonie Bolleurs

Prof. Barry Rider, respected amongst others for the vital role he is playing in the struggle to combat money laundering and organised and economic crime delivered a lecture, Stewardship in Islamic Financial Law, at our university as part of the Faculty of Law’s Prestige Series of seminars.

He has taught mainly at Cambridge and London Universities and has delivered a valuable contribution as an academic in various fields of law. He has read papers and taught at more than 300 universities and conferences in more than 63 countries. He has also authored more than 35 legal handbooks and has made a substantial contribution to several more specialist publications. He is editor of, amongst others, The Company Lawyer, the International and Comparative Corporate Law Journal and the Journal of Financial Crime. His main areas of research are in financial law and the control of economic crime.
 
Prof. Rider has a relationship of more than twenty years with our university. In this time, he received the Doctor Legum (honoris causa) for his involvement with the drafting of money laundering and insider trading legislation. The university has also appointed him as Professor Honorarius in the Faculty of Law (only the second in its more than hundred-year history) for his vast and pivotal role in international law reform as an academic law reformer.
 
As part of his appointment as Honorary Professor in the Faculty of Law, Prof. Rider often delivers lectures in the faculty. During his recent visit, Prof. Rider’s lecture on Islamic Financial Law shed light on the importance of this topic in today’s economy, as money generated from Islamic businesses make up $750 billion to $trillion of the world’s economy. After 9/11, the West wanted to understand more about Islamic Financial Law.
 
The Islamic Financial Law system is determined by the Koran. For instance, Muslim business people cannot allow any payment of interest, as it is forbidden by the Koran.
 
Prof. Rider’s lecture on this very relevant topic was very insightful. As consultant to the Islamic Financial Services Board (IFSB) he spoke with authority on the topic. He is the only British academic lawyer assisting this body.
 
Prof. Rider currently serves in an advisory capacity at the international law firm Bryan Cave LLP. Apart from the IFSB, he is also consultant to the Asian Development Bank.

 

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