Woman On Top – Buhle Hanise

As the chief financial officer at BAIC, Buhle Hanise ensures that the company achieves its financial objectives – a demanding position that she truly enjoys. But, how did she get there?

Some people need to try a number of different career paths to discover the one they find most resonant. Others, however, like Buhle Hanise, knew from an early age exactly what stream they would follow. When she was in grade 8 in Mthatha, Hanise was already deliberating over which subjects she would choose for matric. She was leaning towards picking accounting rather than history when the vote swung in one clear direction.

“Sindi Zilwa, the second black female Chartered Accountant (CA) in the country, came to visit my school. We were all so amazed to see her and hear her story. That day, I decided that I wanted to add my name onto the list of black female CAs.” In the past few years of her illustrious career, she’s done just that and more.

SMALL STEPS

Having determined that she’d be in the financial services sector, Hanise set out to achieve this goal. It required a lot of hard work, but fortunately she was not alone. “I was very fortunate to have the kind of parents I did. They were very supportive. I wanted to leave Mthatha and go work in a big city like Johannesburg.”

After completing her B.Com Honours in Accounting at the University of KwaZuluNatal, Hanise began her upward climb. Though making money is important in life, she was spurred by passion.

“I’ve learnt that you have to do what you’re passionate about. Money is not enough to make you wake up in the morning,” she shares.

In the years after completing her articles,

she worked as a senior accountant, credit manager and senior credit evaluation manager for institutions such as KPMG, Nedbank and Standard

Bank. In addition to this extensive corporate experience, Hanise also continued with her post-graduate studies.

These included an advanced course in Business Rescue Practice from the Law Society of South Africa, an advanced certificate in Insolvency

Law and Practice from the University of Johannesburg, and an advanced certificate in Emerging Markets and Country Risk Analysis from Fordham University in New York. Not only did these qualifications stoke her passion for the industry, but they also helped bolster her résumé.

“I always have a goal in my mind, and am not shy in expressing my ambitions,” she says.

For almost seven years, Hanise worked at the Industrial Development Corporation (IDC). First as an account manager, then as senior account manager, and from 2017–2019 as senior business rescue specialist and team leader.

In this position, she most loved helping distressed companies. “Being able to turn around businesses brought me alive. My role at the IDC gave me purpose in life; it gave me the energy to know that I was making a change in the world,” she says.

Hanise relished the job, but found herself yearning for more. She wanted to do the same kind of work, but at the C-suite level. Expressing this to her mentors and bosses proved to be a smart decision. In late 2019, when a position for chief financial officer of automobile and machine manufacturers BAIC Automobile SA became available, the executive team at IDC identified her for the role. BAIC is the major shareholder in the joint venture. It holds 65% of the company’s Port Elizabeth plant, with the state-owned IDC holding the remaining 35%.

Hanise’s experience managing and formulating plausible solutions for distressed clients, those in business rescue as well as maximising recovery for the IDC equipped her to be the financial head for BAIC’s first foray outside of Asia.

While she had confidence in her risk assessment and analytical abilities, she may have hesitated to take the position without the support of her husband, and vote of confidence from the IDC.

“Having a good support structure both at home and work makes a huge difference. My husband encourages me to work hard, and shares many household responsibilities with me, such as taking our daughter to school when I can’t.”

As CFO, Hanise is the first contact person for the management and board on all financial matters.

It’s a demanding and high-pressure job, but it’s not the only responsibility on her plate.

BEYOND THE JOB

Hanise is also the deputy president of the African Women Chartered Accountants Forum (AWCA). She holds positions as non-executive director on the boards of several companies such as Transaction Capital Limited, Outsurance Holdings Ltd and South African Forestry Companies Limited as part of 2018 President Cyril Ramaphosa’s Thuma Mina brigade. It is work that she takes very seriously.

“I really enjoy sitting on boards as it allows me to help make decisions that support companies in implementing their strategic goals,” she explains.

When it comes to her work at the AWCA, Hanise says this is a real of labour of love. She became a member in 2006 when she was doing her articles, and then joined the board in 2012. One of their most pressing mandates is to get more black CAs into the industry.

“There was a high failure rate in 2019 that really worried me. Having taken the board exam myself, I understand that it is particularly difficult. Recent changes that have made been to the exam may have contributed to the latest drop. We’re now working with various organisations to make sure that positive change happens.”

Having steadily and efficiently climbed her way to the top, Hanise believes that supporting other younger accountants is critical. “I subscribe to the belief that I must develop as I lead. It’s important to me to support those in my profession, from students all the way up to CEO level.”

When it comes to the future, Hanise’s plans include one day being the CEO of her own company, and being the chairperson of a listed board. She also plans to continue playing her part in helping grow the number of black female accountants in the industry. Just like her name has been added on to the list, she hopes to see many more added, too.

Being able to turn around businesses brought me alive. My role at the IDC gave me purpose in life; it gave me the energy to know that I was making a change in the world.