eThekwini Municipality welcomes new CFO
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Durban: The eThekwini Municipality has filled the chief financial officer position left vacant when Krish Kumar retired after 20 years of service.
Filling his shoes is Sandile Mnguni, a chartered accountant, who started two weeks ago and attended his first Executive Committee (Exco) meeting on Tuesday.
He was formally introduced by mayor Mxolisi Kaunda who told Exco that the municipality had trust in him as the new CFO. The mayor said Mnguni was coming home as he had worked very well when he was with the municipality previously.
Mnguni, 44, told the Daily News yesterday that he was grateful to the municipality for giving him an opportunity and was ready to face challenges that came with his new job. He said in every company, CFOs were not very well liked because they were regarded as stingy people who did not want to give out company funds easily.
Mnguni is not a newcomer in the financial sector. He brings 15 years of experience to the city, having worked at the office of the Auditor-General for a couple of years serving his articles.
He was also appointed as senior manager in the office of the Auditor- General. He then joined Ithala Development Finance Corporation as the group CFO. Before joining Ithala, he was at eThekwini municipality as the head of expenditure.
Mnguni, who was once a director of Bonakude Consulting, holds a B.Com Honours degree in Accounting as well as an MBA degree.
He was born and raised in Umzumbe on the South Coast but moved to uMlazi to continue with his high school education. At the height of political violence in townships in 1990s, he returned to his home village of Umzumbe and completed his matric at Buhlebethu High School in 1995.
He moved to the Durban University of Technology, which was then known as Natal Technikon, and obtained an Accounting diploma in 1998. He obtained his BTech Accounting degree at the same university in 2000 and completed his Honours in Accounting at the University of KwaZulu-Natal in 2001.
In 2010, he obtained his MBA at Mancosa while he was already working at the office of the Auditor-General, where he started in 1999. From 2012 to 2018, he was with eThekwini municipality as the head of expenditure and then joined Ithala as group CFO in 2019, where he spent three years.
The Daily News