Because of his baby face, few people can guess that Scholtz Fourie is forty-six. A couple of years ago, a bouncer at an entertainment venue in Las Vegas demanded to see his passport to confirm that he was over 21 years old. More recently, he attended the Cape Town E- Prix with a colleague twelve years his senior, and one of the organisers thought it was a father-and-son outing!
Trips to such destinations are commonplace for the Group Finance Director of Tourvest. He considers it a privilege to work for an integrated tourism group that operates businesses ranging from travel management, hotels, and restaurants to jewellery shops.
“Working here is fun and inviting,” Scholtz says. “South Africa is a popular global tourism destination with diverse offerings, and Tourvest is a market leader in most of these areas. Besides that, we have a very laid-back culture with minimal formality; our standard dress in the office is casual. That said, we do put in the hard yards to make sure the business is run like a well-oiled machine.”
When in Grade 9 in Pretoria, Scholtz wanted to become an engineer but quickly dropped the idea when he found out at a career day that accountants make more money. He later learned that it is one of the best careers to prepare him for business as it moulded his mindset for the corporate environment. After completing his training contract at Logista in Pretoria, Scholtz joined Omnia, a listed group that manufactures and supplies chemicals to agriculture and mining industries. It was here that he learned most of what he knows as he reported directly to the group CFO.
Innovation and improvement
“Whereas the group was a large listed entity, it operated like a medium-sized entrepreneurial enterprise. I was hired as an internal auditor but was quickly assigned to the implementation of an enterprise resource planning system. I was also asked to recreate the company’s transfer pricing policy, which was something I enjoyed because wherever I am placed, I like to innovate and improve,” Scholtz explains.
Omnia would send Scholtz to Mauritius for work assignments for a few weeks at a time. Eventually, his boss asked him to move there permanently, something he was not keen on given that he was not a fan of the humid environment. To his surprise, his wife loved the island country, which solidified his move, and he ended up spending six years there, rising to the position of commercial director of Omnia in Mauritius by the time he left.
“We went to Mauritius when my first daughter was nine months old, and our second girl was also born there. Professionally, I had many learnings as I got my stripes in different commercial nuances, including executing commercial deals, determining margins, and securing funding. I got to fully understand the backroom of a multinational,” Scholtz recalls.
Scholtz yearned for service experience and expertise in finance, which prompted his return to South Africa. His daughters were also now of school-going age, and he thought it would be better for them to join an institution in his native Pretoria. He was appointed group commercial business general manager at Omnia, a title that he didn’t like and a job he did not enjoy.
Joining Tourvest
Scholtz decided to seek greener pastures and applied for the position of CFO of Tourvest Travel Services (TTS). He had a strange interview with the CEO, Morne du Preez, who asked him an unorthodox question: “I have seen your CV and see you have the requisite technical skills, but if I came to a braai at your house, how would you be described by your wife, your friends, and people who do not like you?”
“I can’t quite recall what my answers were then, but if asked the same question today, I would expect my wife to describe me quite positively as we are best friends. We spend a lot of time together, including playing golf. My friends would probably say I am funny and easy-going, while those who don’t really like me may describe me as arrogant because sometimes your confidence can be misunderstood, especially when you appear young,” Scholtz says.
“Joining Tourvest was one of the best things that has ever happened to me. I realised I knew very little of the service industry, and I acknowledged on my first day that I was a student. As CFO, my approach has always been to ensure that the finance team is better this month than it was the previous month while still enjoying ourselves,” he adds.
A period that Scholtz and the team did not enjoy was when the COVID-19 pandemic struck. He contracted the disease and was sick for a few weeks, but that was not nearly as bad as having to let people go. This included employees who were the primary breadwinners of their families, and Scholtz had to fight to retain many of them. Some have since returned, while many of them left the industry, which is one thing that Scholtz laments as a legacy of the coronavirus.
Business partnership
In April 2023, Scholtz was promoted to Group CFO of the Tourvest Group, a federated business with six main autonomous divisions. His challenges as CFO include taking part in creating economies of scale through innovation and being inclusive.
“The appointment meant that we had a brand-new team working with a brand-new CFO at the group level. As a modern CFO, I am also expected to do much more than just accounting, which means I need to be a reliable partner to the business. I am required to have a good handle on technology as well as a deep understanding of data and how to utilise it to execute our strategy,” Scholtz explains.
The COVID-19 pandemic has also meant that risk and governance matters need to be treated with extreme seriousness, and this means that he has had to mould the finance function to cater to this new approach. The group leadership does regular scenario analysis, and everything they embark on is subject to risk profiling because one can never be sure when the next crisis will happen.
Scholtz advises younger professionals to have patience because “where they are today is not where they will be tomorrow”. They should embrace their current moments and cherish the learning experience. That said, they should not be afraid to take the right shortcuts.
Career lessons
“You shouldn’t take shortcuts with controls; however, if you can find a way to skip certain process steps that do not add value, you can improve your efficiency and get work done faster. The value of hard work can also not be understated in one’s career. Finally, you need to have grace for yourself, for your colleagues, and for those you report to. Having a patient and forgiving attitude really helps to alleviate stress in the workplace,” Scholtz observes.
Other lessons that he has picked up along the way include having the right interpersonal skills and ways to build personal relationships. “I learned this early in my career from the book How to Win Friends and Influence People. Another book I highly recommend is What the Dog Saw: And Other Adventures by Malcolm Gladwell, which has amazing stories, including how human behaviour and ingenuity led to the creation of Heinz ketchup.”
Much of what Scholtz does is influenced by the Christian gospel, which has largely shaped his perspective on life. “Even sitting here and having the breath to share my story is something I am grateful to God for, and do not take for granted,” he concludes.
