A DISTINGUISHED WORK HISTORY
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