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- KPMG South Africa has announced the appointment of Ignatius Sehoole as General Manager on Wednesday morning.
- Sehoole replaces Nhlamulo Dlomu, who did not spend much time in a job trying to save society from the damage done to his reputation.
- This is not the first time the new CEO has been at KPMG. He joined him for the first time after failing at Deloitte.
The new CEO of KPMG SA, Ignatius Sehoole, faces a difficult task in a company deeply badociated with the first capture of the state, then the collapse of VBS Mutual Bank. His predecessor, Nhlamulo Dlomu, who had been appointed a year ago, was supposed to do just that, but he was left to a "global strategic role" in society.
But Sehoole seems to be unshakable – perhaps thanks to a complicated and bumpy story.
The murky waters and companies in difficulty are not new to him, and he even has a militancy to his credit
See also: KPMG partners could face a claim of 2 billion rand on VBS – and their insurance may not pay
These are 6 things we did not know about KPMG's new CEO.
He entered the finance because it was led by white men
Sehoole holds an Honors Bachelor of Commerce degree from Vista University, a theoretical accounting certificate from Unisa, and a management degree from Ashridge Management College in Great Britain. He is a chartered accountant and has made his way as head of the group's internal audit at Fedics Food Services.
"I opted for a Bachelor of Commerce degree because it made me angry that tax consulting firms were owned or run by white men." I was curious about the subject and I wanted to change that. ratio, "said Sehoole in an archived interview with Business Insider SA's sister publication, Fin24, in 2009.
He was expelled from his first university
Vista and Unisa were not the first universities studied by Sehoole. He started at the University of the North (today Limpopo) as a BCom student, but he was expelled in his first year, he told Fin24, after having staged a protest when the university diverted pension and housing money, including his own.
It's not his first time at KPMG – after Deloitte did not want it (at the beginning)
Sehoole is no stranger to the audit firm that he will lead now. He joined KPMG after failing in the Deloitte article program by failing an aptitude test intended for auditors. Always determined to join the prestigious company, he started at KPMG and gave Deloitte another try after one year. This time he came in.
He helped establish the Thuthuka Fellowship Program
A Thuthuka Fellowship is one of the most coveted because of the benefits that accrue, including mentoring by established CAs.
As President of SAICA, Sehoole played an active role in launching the program in 2001 to increase the throughput of desperately needed patient organizations in South Africa, especially black societies.
He had a brief stint in teaching
Sehoole taught at Vista University for a year. During his teaching days, he told Fin24: "I am very pbadionate about the development and empowerment of people, I like to see them being the best they can be, which gives me tremendous satisfaction."
He has already tried to leave a job at Transnet after only three months
At the beginning of his young career, Sehoole worked for Transnet.
"After three months in Transnet's service, I wanted to resign … but they enforced the three-month notice period, and I worked there for nine months – under duress."
He said that the institution was so racially polarized at the time that one could feel the tension and that "I just could not handle the mentality of" tomorrow is another day "."
Now read: 5 things we did not know about Phakamani Hadebe, the new CEO of Eskom
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