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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

Meet our Council: Ndaba Ntsele – Inspiring entrepreneurs
2016-04-19

Description: Ndaba Ntsele Tags: Ndaba Ntsele

Mr Ntsele
Photo: Stephen Collett

 To call Mr Ndaba Ntsele just a businessman seems like a bit of an understatement. The Executive Chairman and co-founder of Pamodzi Group Limited lives and breathes business, entrepreneurship, and wealth creation. He is also a member of the Council of the University of the Free State (UFS) since September 2013.

His greatest passion is entrepreneurship, and sharing his ideas of self-employment with young (and old) South Africans. “I preach self-employment wherever I go. Everyone knows that unemployment is a major problem in our country. However, people often expect the government or big corporations to provide them with jobs. I like to influence people to start thinking about working for themselves, thereby creating opportunities for employing others,” he says.

His entrepreneurial drive extends even to his time on the UFS Council. Now in his second term, Mr Ntsele has been well placed to get a sense of the kind of contribution the university and its students could make to South Africa, and even further afield.  

“In addition to training students for all the other important industries in South Africa, I think the UFS is ideally situated to create agricultural entrepreneurs. The Free State is one of South Africa’s prime agricultural areas, after all. Food security is an issue worldwide, and it is an area in which we could make a real contribution by training food producers, food technologists, and agricultural specialists. In fact, I think the UFS could become the leading agricultural institution in the country.”

Being the best is something that he strives for continually, while high standards are not something he shirks. In fact, he believes that Council members should hold an institution accountable for maintaining the highest standards possible, whether it is in governance, financials, procurement, or any other areas of importance in an institution.

As the executive chairman of a multi-billion African-owned group with assets across the globe, Mr Ntsele does not have a great deal of free time. However, he enjoys sitting down with MBA students and graduates to share his views about entrepreneurship.

“If I can change their mind-set from ‘others must employ me’ to ‘I need to create my own employment’, then I will feel as if I have accomplished something,” he says.

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