Why the financial sector offers excellent career options for Gen Z:
In an emerging market like South Africa, with high levels of youth unemployment — just under 60% — job security and financial stability are important in selecting a career path. But young people also want to make a difference and see more development and improved environmental policies and practices.
The majority (71%) of South African Generation Z respondents say they want to work with brands or companies that tackle societal issues such as climate change, poverty, racism, information quality and gender inequality. The financial sector might not seem like the perfect fit for this younger generation, with its high ideals and emphasis on purpose and authenticity, but it is. Let me explain.
When I started my studies years ago in agricultural and environmental economics, my ambition was to make a positive contribution to the agriculture and fishing communities similar to the ones my family hails from. I had no idea I would end up in the financial industry.
However, each day I wake up enthusiastic about going to work. This is mainly because I am privileged to work with inspiring individuals who assist entrepreneurs and institutions in bringing about change by shifting the flow of finance to deliver a positive impact for the environment and for people.
Working in sustainable finance at the World Wildlife Fund for Nature (WWF) in South Africa, our team drives change and enables the adoption of best practices in the way that money is allocated to innovative businesses and entrepreneurs by banks, asset managers and insurers. In this way, we bring about tangible benefits for nature and for South African communities.
When I started out professionally, although I enjoyed the application of mathematical modelling in economics and finance to offer solutions to complex environmental and social challenges, I underestimated the role and influence of finance. I only considered the sector after starting a job at a rural development non-profit and doing research in the field.
My mentor, the late Professor Mohammad Karaan, a beacon of light to many including me, advised me that “to change the system, you need to first understand the system”.
What I did know was that I wanted to make a difference and I didn’t want to be chained to an office desk. Who would have thought that one could work in finance and not work in an office all day! I wanted to work outdoors, in nature, as my passion had always been the natural world and our interaction with it.
I started by studying agricultural economics before moving on to environmental economics and sustainable finance, which might sound like a mouthful but it has been my life’s purpose. It has been a tremendous and rewarding journey of both career and personal growth but has not been without its challenges.
There are many different academic routes to consider for those who want to explore such a career. For instance, the MCom in Risk Management of Financial Markets at the African Institute for Financial Markets and Risk Management at the University of Cape Town is a practical and hands-on programme that introduces young people to the markets and the sector. This can be helpful in getting to know the lie of the land, so to speak — to know where you would want to get started.
The words of advice from my mentor have rung true so often over the years. In the early days of my career in finance, I would drive out to see farmers on their properties and hear, for example, how damage from one hail storm, which nobody could have forecasted, had wiped out savings which meant the farmer would incur debt for 10 years to recover.
That was when it hit home to me how climate and weather affect people and their livelihoods. Scientists and farmers have understood this for generations but the insurance sector was still largely unprepared for the intensity and frequency of these extreme climate events.
It also dawned on me that the financial system I worked within was ill-prepared to support this farmer. More consideration had to be given to integrating climate and nature-related risks and offering rewards in pricing for those who adopted best practices. I knew then I wanted to help farmers like these.
It has been, and continues to be, exciting to work in sustainable finance, to see change happening in South Africa and globally, and to know that people are getting the support they need to be successful. It is not always at the scale and urgency required but we celebrate the small wins too.
Channelling finance to the right kind of businesses is also a way to create jobs. It can help address the high unemployment rate we so desperately need to change to offer hope to young South Africans and their families who believe in a better future.
To young people who want to see change in the world, I say be part of the solution — your skills are needed, your passion, drive and belief that change is possible. If you can do that while traveling internationally, meeting interesting people and being rewarded financially, why not?
Whether you choose to focus on sustainable business modelling, fintech start-ups or consulting work to support and connect the green economy, the choice is yours. Open your own consulting business, work for an impact fund or a tech start-up driving innovation where it’s needed. There are so many opportunities.
The fundamental message to you, Generation Z, is simply this — join those making the world a better place.
Wendy Engel is the senior manager: sustainable finance at WWF South Africa.
Land and reform minister says King MisuZulu acted beyond his powers in suspending ITB members:
Land Reform and Rural Development Minister Mzwanele Nyhontso accused King MisuZulu kaZwelithini of acting beyond his powers by suspending members of the Ingonyama Trust Board (ITB), saying that authority in fact rested with himself.
The Zulu monarch last week suspended the board members — including the ITB chief executive officer and chief financial officer — pending an investigation into alleged potential breaches of the Public Finance Management Act.
But in a statement on Friday, the board members said the king did not have authority to suspend anyone in the Ingonyama Trust, adding that his move followed a “surprising” letter in early December in which MisuZulu notified them about the appointment of one Stephen Jabulani Rakwena of Van Rensburg Kruger Rakwena Attorneys to undertake specific trustee functions. The ITB said last week’s letters suspending most of the board were distributed by Rakwena.
On Monday, Nyhontso said according to the Public Finance Management Act (PFMA) and the Ingonyama Trust Act, only the lands minister appoints the Ingonyama Trust Board.
“The PFMA further empowers the minister to appoint or remove and by extension suspend the members of the board as the entity’s executive authority. It therefore follows that the king acted ultra vires by suspending the members of the board, this power is solely placed on the minister,” he said in a statement.
“The decision to suspend the board members and action of the king to choose to run the board on his own, with the ‘sole unaffected board member’, not only flies in the face of good corporate governance but will also not stand legal scrutiny if challenged.”
“The consequence of these actions that are ultra vires is that the board remains in office until the minister decides otherwise, even then only after following proper processes,” Nyhontso added.
King MisuZulu has previously asked Nyhontso to dissolve the ITB, accusing its members of “hostility” and of refusing to cooperate with his vision for the entity. The monarch is the ITB’s sole trustee and is also its chairperson, a role he took on after firing Thanduyise Mzimela, who he had installed last year after removing long-serving chair Jerome Ngwenya.
The ITB runs the affairs of the Ingonyama Trust, which controls nearly three million hectares of land in KwaZulu-Natal on behalf of the monarch, and falls under the land reform ministry. The minister appoints the board in consultation with the king, the premier of KwaZulu-Natal and the House of Traditional Leaders.
HIV-Aids: South Africa’s journey and the road ahead:
Every year, on 1 December, South Africa joins other countries in observing World Aids Day — a day of remembrance, resilience and renewed commitment to combatting one of humanity’s most enduring health crises.
As I pause to reflect on this year’s theme, Take the Rights Path, I’m struck by the progress we’ve made as a nation and the hurdles we still face.
I am especially humbled by the work of civil society organisations in the fight against HIV-Aids, compounded by other pandemics such as gender-based violence (GBV). The work of civil society reflects our humanity and our commitment inherited from our forefathers and the great mothers that walked this earth before us.
I remember vividly the fear and stigma that enveloped communities in the early 2000s. Recently, through the hard work and great commitment of people living with HIV, supported by many partners including academia and institutions such as the Human Science Research Council, we delivered the 2016 Stigma index research report. Stigma Index 2.0 is in progress, led by the people living with HIV sector, through the resourcing support of The Global Fund to End Aids, Tuberculosis and Malaria. We look forward to these outcomes.
Today, South Africa boasts the world’s largest antiretroviral treatment (ART) programme, a testament to what political will and collective action can achieve. The tireless work of activists, healthcare workers and ordinary citizens has saved millions of lives. People living with HIV can now expect to lead full, productive lives.
However, beneath these triumphs lies a sobering reality — the inequalities that fuel the epidemic remain deeply entrenched.
The statistics paint a stark picture. South Africa is home to 7.8 million people living with HIV, with young women aged between 15 and 24 bearing the brunt of new infections. Poverty, GBV, and limited access to education perpetuate a cycle that makes young women particularly vulnerable. As a society, we cannot separate the fight against HIV-Aids from the broader struggle against inequality.
This year’s World Aids Day theme challenges us to address these structural barriers head-on. But how do we translate this lofty goal into tangible action? For me, the answer lies in the stories of resilience I’ve encountered.
Take Thandi, a peer educator I met during a community outreach programme in KwaZulu-Natal. At just 19, she’s already a force to be reckoned with, using her own experience of living with HIV to educate and empower others.
Thandi’s story underscores the importance of investing in local initiatives that centre the voices of those most affected. When we give young people the tools and platforms they need, they become powerful agents of change.
We must also tackle the pervasive stigma and discrimination which continues to hinder progress. Despite decades of awareness campaigns, misconceptions and disinformation about HIV persist, often isolating those who need support the most.
Normalising conversations about HIV in schools, workplaces and homes can go a long way in breaking down these barriers. It starts with education, but it also requires empathy and compassion — a willingness to see beyond the virus and recognise the humanity of every individual affected.
Finally, we need to hold our leaders accountable. The fight against HIV-Aids cannot succeed without sustained political and financial commitment. This means not only funding ART programmes but also addressing the social determinants of health that drive vulnerability.
South Africa spends over R30 billion annually on its HIV-Aids programs, which includes the costs of its extensive ART programme. Thanks to bulk procurement and partnerships, the per-person cost of ART is approximately R1 800 to R2 000 per year.
While international donors like The Global Fund and PEPFAR provide crucial support, South Africa shoulders more than 80% of these expenses, demonstrating its commitment to combating the epidemic. It means ensuring that every clinic, no matter how remote, has the resources to provide comprehensive care. And it means standing up against policies or practices that perpetuate inequality, whether in healthcare, education or employment.
On World Aids Day 2024, Deputy President, Paul Mashatile reinforced this commitment, emphasising community-led interventions as key to reducing stigma and improving health literacy.
He highlighted the vulnerability of adolescent girls and young women, advocating for targeted strategies like the “Zikhala Kanjani” Youth HIV Prevention Strategy.
Mashatile also underscored the importance of leveraging technology, including digital platforms like the B-Wise Health app, to enhance youth engagement and access to healthcare. Recognising global disparities, he called for efforts to make innovations like injectable antiretrovirals more accessible in South Africa.
His speech reaffirmed the nation’s dedication to ending Aids in children by 2030 and achieving universal health coverage.
The Treatment Action Campaign also made waves on World Aids Day, issuing a powerful memorandum with actionable demands to improve South Africa’s HIV-Aids treatment framework.
One key request was to extend the supply of ARVs to six months for stable HIV patients. This measure aims to reduce clinic visits, improve patient adherence and ease the burden on the healthcare system.
The organisation emphasised the importance of addressing stigma and the marginalisation of LGBTQIA+ individuals and sex workers within the healthcare system.
Health Minister Dr. Aaron Motsoaledi expressed support for these proposals, recognising their potential to benefit patients and the broader healthcare infrastructure. While logistical challenges remain, the commitment to prioritise these reforms highlights the nation’s determination to innovate and lead in the global fight against HIV-Aids.
As I reflect on South Africa’s journey, I’m filled with both pride and urgency. Pride in the strides we’ve made as a nation and urgency to tackle the challenges that remain. World Aids Day is more than just a moment to commemorate; it’s a call to action. Ending inequalities is not an abstract ideal — it’s a tangible goal we can achieve if we work together and uphold the human rights of all people living with HIV.
The road ahead is daunting but it’s also filled with promise. When I think of Thandi and countless others like her, I’m reminded that hope and resilience are powerful forces.
Let’s honour their courage by redoubling our efforts to create a South Africa where no one is left behind in the fight against HIV-Aids. Let’s take the rights path — not just for today, but for generations to come.
Solly Nduku is the chair of the Civil Society Forum at the South African National Aids Council and the general secretary of the National Unitary Professional Association for African Traditional Health Practitioners in South Africa.
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