August is Women's Month — an apt time to reflect and recommit to removing the proverbial “glass ceiling”.
While we celebrate three decades of democracy, South Africa's listed telcos are yet to appoint a female chief. I am beginning to wonder if in my lifetime I will see a black, capable woman with telecoms expertise and insider knowledge being appointed to run a multibillion-rand listed telco.
After all, women also spend money on telco services traditionally run by male CEOs.
The facts don’t lie. Since the mobile phone industry was founded 30 years ago, it has been a male-dominated club of CEOs and chairmen.
Notably, female executives of telcos have generally excelled as CFOs. Currently, JSE-listed telcos that include Vodacom, MTN and Telkom have their finances managed by exceptional female executives, who in my view, have the potential to be CEOs. Even unlisted entities such as Cell C and Liquid Intelligent Telecoms have female CFOs who are top-notch.
Vodacom's finances are managed by Raisibe Morathi, who joined the company in 2020 from Nedbank and has been a steady hand. MTN’s finances are overseen by Tsholofelo Molefe, who joined four years ago from Telkom. Since then she has helped to reduce its debts.
Telkom recently appointed former Transnet CFO Nonkululeko Dlamini to the same role, and in just three months the company’s finances have improved significantly. After acting as Cell C CFO since August last year, El Kope was promoted to the job in March this year.
Telkom briefly had a female CEO in Nombulelo “Pinky” Moholi between 2011 and 2013. She is now chair of the board of South Africa’s largest short-term insurer, Santam.
Despite the existence of these competent female leaders, it appears there is a reluctance to elevate them to CEO positions. Surely she who looks after the purse can run the company.
The question is: when will South Africa have female heads running any of the country’s biggest telcos — Vodacom, MTN and Telkom? These companies already have competent women executives who can easily step up to top positions.
However, the decision to promote these women executives lies in the hands of the male chairs of these telcos. They include Saki Macozoma at Vodacom, Mcebisi Jonas of MTN, and Geoffrey Qhina at Telkom.
If Shameel Joosub resigns as Vodacom CEO or his contract is not renewed, which female executive can lead the country's biggest telco, valued at R200bn?
Achieving gender parity at the executive level is essential for setting a precedent that talent and capability, rather than gender, should determine leadership roles
I think Mariam Cassim, who has turned Vodacom's financial and digital services into a revenue-generating division, is a strong candidate. She has transformed the division from losing R88m to generating R13bn in revenue as of March 31 this year. Cassim has done well to ensure that financial and digital services become the key drivers of Vodacom’s new services. This enables the mobile operator to honour its stated purpose to connect its customers to a better future.
When the time comes to replace Joosub, will Macozoma and the board be ready to appoint a female CEO such as Cassim?
Another equally good candidate would be Beverly Ngwenya, who has been instrumental in the smooth operation of Vodacom’s mobile network for 14 years. She has been so good that the powers that be deemed it fit to promote her to technology director of Vodacom South Africa. Under Ngwenya, the company will be in good hands and ensure it delivers the best possible network services to subscribers.
At MTN, Mapula Bodibe, presently CEO of MTN Rwandacell, has a strong track record in South Africa and Uganda and could navigate Africa’s male-dominated markets. Her experience in South Africa, Rwanda and Uganda places her in a good position.
Bodibe had an illustrious career at MTN serving in different roles with a great record. When Ralph Mupita leaves MTN, I believe she would be a good candidate to take over as group CEO.
Yolanda Cuba, vice-president for MTN’s South and East Africa regions, could also be a perfect fit for the post of group CEO. She was once seen as a potential CEO for Vodacom.
As for Telkom, the company has young, capable female leaders who can be promoted to strategic positions and groomed for future CEO roles. While all its operations are at present led by male CEOs, there are young female leaders with the expertise and talent to be groomed for the top position.
Appointing black female CEOs with telecoms expertise and insider knowledge is crucial for several reasons. First, it would address the historical gender imbalance in the telecom sector, demonstrating a commitment to diversity and inclusion. Second, promoting competent female leaders to top positions can bring fresh perspectives and innovative approaches, enhancing company performance and competitiveness. Finally, achieving gender parity at the executive level is essential for setting a precedent that talent and capability, rather than gender, should determine leadership roles.
This transformation is not only a matter of equity but also a strategic imperative to harness the full potential of diverse leadership in driving growth and innovation in South Africa’s telecom industry. Besides, appointing one gender only simply means you are missing out on half the talent on offer.
• Lourie is founder and editor of Tech Financials
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