Bongi Mkhize

Bongi Mkhize is the chief executive officer of the Natal Joint Municipal Pension Fund (NJMPF), which is a retirement services provider for 55 municipalities in ten municipal districts of KwaZulu-Natal. The NJMPF has a membership base of 23 500 active members, approximately 9000 pensioners and over 38 billion rands worth of assets under administration.

From an early young age, Bongi has always broken boundaries. Having grown up in Ndwedwe, a village outside Durban, KwaZulu-Natal, there were limited educational resources and no role models in the area to inspire him. Bongi took it upon himself to upskill using the limited resources he had at his disposal and pursued a career in accounting. Fast-forward to the future, he is now an impactful figure not just as CEO of NJMPF but in Ndwedwe.

Bongi holds a tertiary qualification in finance and a postgraduate diploma in investment management and banking from the University of KwaZulu-Natal. His career began as a clerk at one of the leading banks, where he gained valuable experience in customer service, a skill that has proven essential in applying Treating Customers Fairly (TCF) principles throughout his career. He then transitioned into an auditing role, which provided him with deep insights into the importance of governance and accountability within organisations.

Driven by a desire to further his education, Bongi completed his South African Institute of Chartered Accountants (SAICA) articles with the Office of the Auditor General, gaining extensive experience in auditing both provincial and national departments, municipalities, and public entities. This foundation set the stage for his future success.

Bongi joined the NJMPF over 15 years ago as a finance manager. He worked his way up the ranks and became chief financial officer, then deputy chief executive officer and finally chief executive officer in 2019.

When Bongi took over as CEO, he committed to improving members’ financial literacy especially having had first-hand experience of how financial illiteracy contributed to some of the challenges his community faced when he was growing up. The vision of financial inclusion, financial literacy, and financial freedom upon retirement for all South Africans especially the previously marginalised majority – regardless of one’s socio-economic status, led Bongi to tirelessly innovate NJMPF’s products and services and grow its brand visibility across KZN.

QUALITY SOLUTIONS
As CEO, Bongi is driven by a clear purpose: “My goal is to lead the team to administer the pension fund and provide top-notch retirement services that are cost-effective, ensuring our members can retire comfortably. We strive to continue providing quality solutions that meet the unique needs of our stakeholders.”

One of Bongi’s proudest achievements is leading NJMPF. He notes, “Leading NJMPF is my proudest moment because it’s a big organisation with a significant impact. Being the CEO of such an organisation is incredibly rewarding, especially when we consistently receive clean audit reports from the Auditor-General and maintain the Fund’s legacy of excellence in financial management and governance for over two decades.”

Further to financial literacy, Bongi contributed to the fight against a challenge that most young South Africans face, which is unemployment. He prepared and submitted a paper to the NJMPF Board of Trustees pleading them to approve his proposal for a 12-month internship programme where students that have recently attained their qualifications can be afforded an opportunity to get workplace experience while also receiving a stipend. This proposal was adopted by the Board and currently the NJMPF has appointed nine interns. When these contracts end, new graduates are being appointed.

Bongi also introduced an initiative themed “NJMPF Spirit of uBuntu” to celebrate the lives of community members that are not as fortunate as everyone else. When he launched this initiative, he celebrated a life well lived for all NJMPF centenarians – Covid-19 survival packs and hampers were prepared and personally hand delivered by his communications team. He also identified beneficiaries living with disabilities who collect a monthly pension from NJMPF.

Bongi oversaw the development and revamping of the NJMPF website, which made it possible for members to access micro financial services pertaining to their retirement savings and financial futures online and without having to leave their homes.

A CULTURE OF TRANSPARENCY
To keep his team motivated, Bongi fosters a culture of openness and transparency. “I believe in open communication, recognising achievements, and addressing challenges collaboratively. Transparency is very important to me, and I ensure my team feels supported and valued in their efforts toward our shared goals.”

Bongi draws inspiration from his father, who taught him the value of resilience and kindness, qualities he strives to embody in his own life. His faith and belief in NJMPF also drive him to continuously pursue excellence and innovation.

Looking to the future, Bongi envisions a business environment in KwaZulu-Natalwherefinancialliteracy and inclusion are prioritised. “We need to ensure that all stakeholders are financially empowered. Reducing unemployment through targeted programmes and other initiatives is also critical,” he says.

Bongi is particularly interested in how global economic changes and technological advancements will shape the future. He believes that innovations such as the modernisation of products and services through information technology will play a crucial role in NJMPF’s continued success. “Using technology to lower fees is critical for a retirement funding service and its members. Finding innovative ways to enhance and accelerate member participation in the retirement funding arrangement is important,” he explains.

Bongi lives by the motto: “We have to create the future we want rather than mourning the past we could have had.” This reflects his proactive approach to leadership and his commitment to shaping a better future for NJMPF and the broader community. His story serves as an inspiration for others to dream big, work hard, and never lose sight of their purpose as they strive to make a positive impact on the world around them.