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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

Vusi Thembekwayo enthrals Kovsies
2016-08-18

Description: Vusi Thembekwayo  Tags: Vusi Thembekwayo

Vusi Thembekwayo delivered an impressive
lecture at UFS

Kovsies students and aspiring entrepreneurs who attended Vusi Thembekwayo’s Like a Boss: Show me the Money lecture will certainly agree that he is indeed the “Rockstar of public speaking”.

Through his sublime oratory skills, blended with flagrant humour, the seasoned serial entrepreneur captivated the capacity audience at the University of the Free State’s EBW Auditorium.

The lecture’s main purpose was for the 31-year-old - who has already achieved immense success in business - to offer valuable business advice and financial literacy. And he did just that.

Thembekwayo explained how innovation has always been driven by necessity. He also mentioned why he believes black people were struggling to build or grow sustainable businesses in the country.

“There is no black capital in SA. There are no schools to teach black people how to start businesses,” Thembekwayo said.

He said black people often opted out of their societal problems in spite of being conscious of them. This was a reference to the visible trend of black people who pursue success for their own personal enrichment.

For the country to solve these problems, amongst many others, Thembekwayo stressed that a labour absorptive economy, which also creates entrepreneurial opportunities, is essential.

Mechanical engineer and World Economic Forum (WEF) Innovator of the Year Award recipient, Nneile Nkholise and Dr Johan van Zyl, from the UFS Centre for Development Support were guest speakers at the event.

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