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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

Ethical leadership - the building block for success in business
2015-03-13

Dr Reuel Khoza

As part of the professional development lecture series, the UFS Business School hosted Dr Reuel Khoza, Chairman of Aka Capital and Nedbank Group Limited, in a presentation to MBAs and the Bloemfontein business community on Leadership challenges of building an ethical organisation.  In his presentation, Dr Khoza discussed Nedbank’s journey to success, its approach, and the interventions used to make its success a reality.

He brought to the fore one of the challenges which many companies in South Africa and around the world often face, that is, to change the perception of leadership in a large organisation from a profit-centred orientation to a people-centred one. This is a process that can take years to achieve.

Dr Khoza said “Ethical and well-governed organisations create trust with stakeholders … ethical leadership has a ripple effect on all other leaders at all levels in an organisation” In concluding his presentation, he reiterated that ethical leaders embrace humanity; it is not prescribed as a duty but is self-prescribed.

The professional development lecture series is held at the Business School on the Bloemfontein Campus, hosting prominent speakers on various business-related topics throughout the year.

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