CityPress - - Business -

Nombe­mbe was born in 1961 in Qumbu in the East­ern Cape and ma­tric­u­lated at Um­tata Tech­ni­cal Col­lege in Mthatha in 1979.

He chose ac­coun­tancy as a pro­fes­sion be­cause it in­te­grated busi­ness de­vel­op­ment with a bet­ter qual­ity of life for com­mu­ni­ties.

He at­tributes this ca­reer choice to his par­ents, both teach­ers, and says becoming an ac­coun­tant was a way for a black per­son to es­cape poverty.

He read for his BCom de­gree at the then Univer­sity of Transkei (now Wal­ter Sisulu Univer­sity) in 1982 and ob­tained his BCompt Hon­ours from the Univer­sity of SA in 1986.

He qual­i­fied as a char­tered ac­coun­tant (CA) in 1990.

Nombe­mbe cites for­mer Saica pres­i­dent Wise­man Nkuhlu, the first black African to qual­ify as a CA in South Africa, as a role model. Nkuhlu was one of his lec­tur­ers.

Nombe­mbe started his ca­reer as a trainee ac­coun­tant with KPMG in the erst­while Um­tata in 1983. In 1987, he joined Unilever in Dur­ban as an in­ter­nal au­di­tor. He joined BP Botswana in Gaborone as fi­nance man­ager in 1994.

In 1997, he helped es­tab­lish the Cape Town branch of au­dit­ing firm Go­bodo.

In June 2000, he was ap­pointed Deputy Au­di­tor­Gen­eral (AG) and re­calls how there was a big move at the time to pro­fes­sion­alise the en­tity. When he joined the AG’s of­fice, about 10 CAs were em­ployed there. Now, 17 years on, it boasts al­most 600 CAs.

In De­cem­ber 2006, Nombe­mbe was ap­pointed AG and was the first African to hold the po­si­tion.

In Novem­ber 2013, he ended his seven-year, non­re­new­able term of of­fice as AG with dis­tinc­tion. In Jan­uary 2014, he joined Saica as its CEO. In May 2014, Nombe­mbe re­ceived an hon­orary doc­tor­ate in ac­count­ing sci­ence from his alma mater, Wal­ter Sisulu Univer­sity.

Nombe­mbe has served on sev­eral boards and is a nonex­ec­u­tive di­rec­tor of the Re­serve Bank.

GOOD GOV­ER­NANCE Saica CEO Ter­ence Nombe­mbe

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