Phuthi Mahanyele-Dabengwa, the Forbes-recognised CEO of Naspers South Africa, is a leading example of a successful South African businesswoman.
She gained quick recognition from Forbes due to her drive to strive for economic development and empowerment of African businesses.
The CEO, born in 1971 in Soweto, grew up in an area reserved for black people.
The government imposed policies known as apartheid, severely restricting the opportunities and rights of people of colour, especially black South Africans.
She later attended school in the upright neighbourhood of McAuley House Convent in Milpark. Here, she quickly realized how different life was compared to her township in Soweto.
“When I arrived at McAuley House, I barely knew how to speak English, and my school friends, whom I had to fit in with, lived in a world that was really foreign to me,” she stated in a previous interview with Women’s Report.
Restrictions imposed by the racially segregated society did not stop her. Phuthi pursued an education that would open doors to opportunities far beyond what many could imagine.
“I saw what education did for my parents. My dad studied when he was much older… I watched him do his BA in economics, his Master’s, and, finally, his doctorate. Seeing my parents’ activity birthed in me many thoughts of my capabilities—the capability to achieve,” she said.
Her career and move to Naspers
The businesswoman started her career in 1993 in New York, working for an international investment banking firm, Fieldstone Private Capital Group. She worked her way up to Vice President (1997 to 2003).
She transferred to the firm’s South Africa office and became Head of Project Finance.
The Forbes-recognized business leader then joined Shanduka Energy as managing director in 2004.
Shanduka Energy, an investment holding company owned by South Africa’s President Cyril Ramaphosa, witnessed the rapid ascent of Dabengwa to the CEO position.
During her tenure, she managed substantial assets and made critical investment decisions that grew the company’s portfolio. By 2014, the company was worth approximately R76 million.
In 2019, Phuthi was appointed CEO of Naspers South Africa. She is the first black and female CEO of the company.
Nasper, worth $36.52 billion, is one of the largest technology investors globally, with stakes in some of the most valuable companies in the world, including China’s Tencent.
“Focus as much as you can on skilling yourself, whether it is trying to get the best possible marks at school, or learn as many skills as possible in a job, your success is going to be determined by what you put in,” she advised Africans who wanted more for themselves.
Though the country still suffers from the aftereffects of apartheid, tales like Phuthi’s inspire hope and serve as a reminder that South Africa can produce leaders who can compete on a global scale.
She serves as an inspiration for what is possible when obstacles are removed and chances are taken advantage of, having gone from segregation to success.
