Editor’s note: This is the second in an FM series of interviews on leadership with CFOs who are women. Read the first in the series: “Tips for Leading With Integrity From an Engineer Turned Finance Director.”
Pretty Makukule, ACMA, CGMA, has been overseeing extensive financial portfolios for more than 20 years, making her an experienced public sector CFO in South Africa. In the past ten years, she has headed the finance team at the Department of Higher Education and Training (DHET), the Department of Science and Innovation (DSI), and the Tshwane Economic Development Agency (TEDA). In August, Makukule was honoured as Public Sector CFO of the Year at the 2023 African Women Chartered Accountants Awards. In September, she was named CFO of South Africa’s National Parks (SANParks) in Pretoria, where she is responsible for conserving wildlife resources that are some of the country’s most important assets.
Makukule was also one of 19 nominees for the 2023 South African CFO of the Year Awards. “To be nominated [for] the award and being nominated with CFOs of big multinational companies, I feel that I’m really flying the flag high for all government workers who are in the finance profession,” she said. “Also, I am the only woman who [was] nominated in the public sector … that also makes it feel special.”
She shared her insights about leadership qualities with FM to help other finance leaders inspire their teams, make informed decisions, overcome challenges, and foster collaboration. Makukule’s responses have been edited for length and clarity.
How would you describe your leadership style?
Pretty Makukule: I am a collaborative leader. I believe in the saying, “If you want to go fast, go alone. If you want to go far, go together.” As I grew through the ranks, I realised that when you reach an executive level, you have to be a champion of collaboration, your peers, and your team because you can do more within a short space of time with information that gets shared across the board. I believe in building my team so that we can learn and grow together to enable business or organisational success.
I’m consistent, so there’s never a time where I will wear out from trying to achieve our goals. To do that, having principles and ethical leadership is non-negotiable for me.
It takes courage to create a team that can reach common goals. My team is empowered to carry out the task better as we move along, and that always helps me spend more time on strategic issues because I know that the team can fulfil the day-to-day responsibilities.
It really enhances the quality of the work, saves much more time, and helps us to be efficient in what we do. I know about the traditional organisational hierarchy, but I also know how to consider ideas from a team member — as opposed to what would have been the case maybe two decades ago when it was assumed that the manager knew better than a subordinate.
What three essential skills or characteristics are needed to lead in a hybrid work environment?
Makukule: COVID-19 has taught many of us to suddenly work in a very unfamiliar environment and situation within a very short time. So, one skill or characteristic is clear and effective communication, which ensures that even if we do not see each other every day, team members have a sense of responsibility and do what is expected. Communication also requires empathy. Sometimes, you have a staff member with a family member hospitalised with COVID-19 or dealing with mental health issues. Before I can start with work demands, I need to get to that personal level to know how they’re doing.
Another characteristic is to trust my team and that they know that I trust them, which also gives them that sense of responsibility. For me, trust is non-negotiable as I employ my team for professionalism and efficiency. And lastly, respect is an important characteristic in a hybrid work environment. I respect the office I hold; I respect myself and the people who are the resources we lead. Even when we’re not together in the office, that principle or value of respect comes naturally.
Can anyone learn to become a leader, or are people born with leadership qualities?
Makukule: Life is about learning. I believe that one can learn to become an effective leader through experience and leading different groups, whilst I also believe that some qualities can be innate. But to be a very effective leader, you must always have a mindset for continuous improvement because, in all honesty, different situations and different people require different leadership styles.
How do you foster teamwork and collaboration?
Makukule: I call myself a champion of teamwork. When there is a task, I normally sit with my team and see this task is directly linked to a team member’s span of control. I recognise the value each team member can bring to the task and ask, “Can you team up? Can you work together?” When I sit in an executive committee meeting or board and I’m given a task, I will email or WhatsApp the team, “There is this task … think about it, and let’s meet tomorrow morning and hear your ideas.”
Encouraging teamwork breaks down the silo walls. Even if it’s clear that this is a management accounting task because we are all a team, one task most of the time interlinks with the tasks of members on other teams.
How do you feel about 360-degree feedback and its strengths?
Makukule: It works effectively in organisations where performance management is run at a mature level. People understand that to perform better we need an effective leader; and, for her to be effective, it is important to give honest feedback so she can become a better leader.
The biggest benefit that one can derive from the 360-degree feedback is how to appreciate the feedback itself. It has really assisted me in identifying my strengths that I was not even aware of and the opportunities for improvement. It creates self-awareness that you can’t do by just assessing yourself.
My view is that we can’t ever improve if we are not given honest, constructive feedback on how we are perceived. My first-hand experience with it was a bit uncomfortable, but I had learned that, at an executive level, feedback really helps. And I’ve also learned that it promotes collaboration and trust.
How important is having a mentor or champion to help your career?
Makukule: Mentors are invaluable for young professionals. I have been fortunate to have had different mentors at different points of my career, and they have stepped up to guide me on my work journey at times when I didn’t realise I needed guidance. It’s for this reason that I’m also passionate about developing others and mentoring many young finance professionals, even outside my area of work.
What three pieces of advice would you give those aspiring to move on to the C-suite?
Makukule: My first piece of advice is to believe in yourself and to surround yourself with an empowerment network of many professional connections. Networking helps you stay on top of industry trends. I’ve networked with other CFOs from different organisations.
Secondly, choose to lead a life of learning. Leadership and learning are indispensable. Invest in personal development and improve your skills.
Lastly, it’s important to have a work/life balance. I call it a life/life balance because work is an integral part of life, but it should not dominate it. So, work towards a life/life balance because your personal life is as important as your work life.
How do you see the role of the CFO or CEO changing in the future?
Makukule: As the world changes, executive roles in organisations will have to keep pace. If you think about the phenomenon of the “Great Resignation”, executives will struggle to retain high-performing talent if they don’t change the traditional way of working. I believe CEOs and CFOs need to be more realistic with their thinking and towards their team, and shift from being goal-driven to people-driven.
When your organisation is people-driven, you can take more innovative ideas from your team, and they will really want to be part of the change and new trends. As we move along and there’s a greater sense of empathy from being people-driven, the results will be delivered organically. When team members feel cared for and seen, they will invest more time and energy in delivering the bottom line.
— William Carter Jr. is a content writer at AICPA & CIMA, together as the Association of International Certified Professional Accountants. To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.