Empowering women through leading by example

Dynamic currency trading trainers tell about the challenges of what can be a complex business

BUYING and selling currencies is a challenging undertaking in a complex, ever-changing arena. In what was traditionally a male-dominated career choice, electronic retail trading has changed the shape of the business and made it easier for women to enter this lucrative field and position themselves as gamechangers.

Paballo Nkwe and Danielle Lester, both 28, are trailblazers making their mark in this fastpaced industry.

As co-owners of Iselect Wealth, which is part of the Iselect Group, their business trains individuals, companies and start-ups on how to trade in stock markets around the world.

Nkwe was born and raised in Joburg, while Lester is a product of Durban. With their different upbringings, they decided to pool their expertise and give birth to the company.

Says Nkwe: “I have been surrounded by entrepreneurs all my life, so I was exposed to entrepreneurship at a young age. I started my first informal business at the age of 13, selling cookies to classmates at school.

“A few years later I started my first formal business, a marketing and events company, while pursuing my degree at university,” she said.

Nkwe was introduced to foreign exchange trading by her long-time friend, Lester, five years ago.

“We later decided to open a trading company. Our trading business then gave us the platform to venture into other businesses,” says Nkwe.

Entering into a collaborative partnership can come with its own set of risks. For both women, investing their own capital in the business paved the way for a mutually respectful and committed joint venture based on trust and dedication.

Start-ups can be challenging, even with the best intentions, and Lester attests to the benefits of having a business mentor to provide much-needed support and advice to help alleviate issues, especially in the first year of operation.

“When we started the business, we had no guidance and had to learn some hard lessons that could have been avoided. Through trial and error, we quickly discovered the importance of having a business mentor when setting up a new company,” says Lester.

Listening to advice is something both women subscribe to because they believe learning is continuous.

Sharing that philosophy, the advice they have for emerging entrepreneurs is: “Ensure that you educate yourself about business or the specific industry you are venturing into. This entails a formal education, which will set you apart from your peers and competitors.

“Reinvent yourself, be innovative and constantly look for new ways of doing things within your industry.

“By doing these things, you will be able to spot market gaps and find solutions to close them,” says Nkwe.

For Lester, passion goes a long way: “Establish a business that you are passionate about, believe in whatever it is that you want to do, have a clear vision and have confidence in what you are able to bring to the table.

“In addition, you need to brand yourself. It is very important to have a strong personal and professional brand.”

The women plan to expand their group into Africa and then create an international footprint.

Because social causes lie close to their personal values, they aspire to give back in some way to underprivileged girls.

Being role models to younger relatives and other young women in general, both Lester and Nkwe constantly strive towards greater heights in an effort to leave a lasting legacy.

Failure, in life and in business, is not something these women, with their mindset, will let stop them from climbing heights.

Both consider setbacks as life lessons that are there to teach them something. They say the lessons they learn through mistakes need to be applied in some way to ensure the failures are never repeated.