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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

FASSET funding bid secures R54 million for black accounting students
2015-08-28

The Centre for Accounting in the Faculty of Economic and Management Sciences has made great strides with its INTRABAS projects, which support the development of black student enrolment and performance in Accounting Studies.

Recently, the university won four bids that have secured R54 million in funding from the Finance and Accounting Services Sector Education and Training Authority (FASSET) for 2016.  This funding will  support the teaching and learning initiatives of 960 black accounting students enrolling for the following four accounting programmes: BAcc, BCom(Acc), BAcc(Hons)/PGDipCA and BCom(Hons in Acc)/PGDipGA.The benefit to these students is the envisaged increase in throughput rates by 10% from year- to- year until the Honours year.  This covers tuition fees, text books, and extra tutorials, including autumn, winter and spring boot camps.

“FASSET funding will give the Centre for Accounting an opportunity to strengthen our current student-centered teaching model” said Prof Hentie van Wyk, Programme Director: Training of Accountants at the UFS.

The Centre for Accounting has a “1” accreditation grading from the South African Institute of Chartered Accountants (SAICA), and has achieved an 80% average success rate over the past three years in the Initial Test of Competency (ITC) of SAICA.

Download the application form for FASSET funding or collect one at the Centre for Accounting at the Faculty of Economic and Management Sciences.  The closing date for applications is 31 October 2015.

For more information, contact Dirkelien de Beer on +27(0)51 401 3688 debeerdb@ufs.ac.za /Prof Hentie van Wyk vanwykha@ufs.ac.za

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