Tsholofelo Molefe has been recognized as InstinctBusiness Magazine’s CFO of the Week

Tsholofelo Molefe, a seasoned financial executive, garnering an enviable wealth of experience has been recognized as InstinctBusiness Magazine’s CFO of the Week.

Tsholofelo assumed the role of Group Chief Financial Officer at MTN Group in April 2021, following her tenure as Group CFO at Telkom SA SOC Limited, where she initially served as Deputy Chief Financial Officer starting from July 2016.

Prior to her time at Telkom SA SOC Limited, she held the position of Finance Director within the Personal Segment Unit at First National Bank Consumer Division. Earlier in her career, she served as Chief Financial Officer at Eskom Holdings SOC Ltd and held the role of Audit Manager at ABSA Group after completing her audit and accounting articles at Coopers & Lybrand (now Price Waterhouse Coopers).

With her role at MTN, Tsholofelo has played a key role in capital allocation and balance sheet management, significantly reducing the holding company leverage from 2.2x to less than 0.8x by the end of the 2022 financial year. Additionally, she spearheaded an expense efficiency program that resulted in the company saving R2.7 billion in expenses in 2022. She is actively involved in driving MTN’s Ambition 2025 strategy execution, which includes initiatives such as structural separation of platform businesses, portfolio optimization, and asset realization. Tsholofelo brings extensive financial strategy, financial management, and accounting expertise to MTN, with a strong background in enterprise risk management and financial controls.

InstinctBusiness Magazine’s CFO of the week is a weekly recognition of top-performing CFOs across various sector. This recognition is based on exemplary leadership, achievements, remarkable work, outstanding service, industry experience, exceptional leadership, innovation, amongst other criteria.