Dr. Tumeka Matshoba- Ramuedzisi shares her business and professional insights

Home » Interviews » Dr. Tumeka Matshoba- Ramuedzisi shares her business and professional insights

Dr. Tumeka Matshoba- Ramuedzisi shares her business and professional insights

Jan 18, 2024 | Interviews

Tumeka Matshoba- Ramuedzisi admits that she may never have become an entrepreneur if she wasn’t married to husband and business partner Denga. Together, they have been running Ramuedzisi Chartered Accountants and Registered Auditors for sixteen years.

Although she felt a lack of interest in pursuing a corporate job or climbing the corporate hierarchy, Tumeka recounts, ‘Running a business had never crossed my mind; it was more his idea. We established the partnership after finishing our articles at KPMG. At the time, I was more interested in academia and doubled as a lecturer at University of Johannesburg (UJ).’

It was a rocky start for the practice when they landed their first big client, an audit of an asset manager promising a lucrative audit fee. They worked long hours to complete the audit but sensed that payment was not forthcoming when the client repeatedly evaded conversations about their unpaid invoices.

‘In the end, we did not issue an audit report. We lost a lot of time and money as a result of our youthful exuberance. The lesson learnt was that when the deal is too good to be true, think twice. If the same assignment crossed my desk today, I would ask a lot more questions before taking it on,’ Tumeka says.

People and cash flow management

Another notch on their learning curve has been people management. When you are an executive at a corporate entity, you can easily moan about subordinates hired by human resources when they don’t deliver.

Tumeka explains the contrast thus, ‘at Ramuedzisi, we hired each and every one of our team members so it is up to us to make it work with each employee. And given the size of our firm, we are invested in their personal lives because any occurrences in their lives impacts our collective delivery.’

A further test in the entrepreneurship journey at Ramuedzisi is cash flow management. During one difficult spell, the owners went nine months without a salary to keep the lights on.

‘We have even had to lend the business money at some points. Thankfully, we recovered and got the loans repaid. As an entrepreneur, you need to be very disciplined in matters of personal finance because times will come when you will need to dip into your savings to survive. This is particularly pertinent in our situation because we are married business partners,’ Tumeka explains.

Good tension

Being married business partners has worked well over the years for the Ramuedzisis because of having professional respect for each other at the office. They avoid talking shop at home, scheduling a work meeting in the office for just the two of them if there is a matter to discuss.

‘We have a good tension given that Denga has a higher risk appetite and I am generally risk averse. We often disagree but when we do, we do not undermine each other because each of us knows the other person is smart and knowledgeable.’

Smart and knowledgeable is definitely a description that suits Tumeka. Whilst teaching at UJ, she completed her Master’s degree in computer auditing. She went on to get a PhD in leadership from the University of Pretoria (UP) where she is a senior researcher and a lecturer in strategic finance. Tumeka also serves on the boards of Reunert, Safari Investments and Toyota South Africa.

Quality time

‘I lead a busy life, yet I’ve managed to prioritize quality time with my husband and two children on weekends by deliberately steering clear of work commitments. Working in auditing also suits me because I like that we have heavy periods and quiet periods which I prefer to a job that is at the same level of intensity throughout the year,’ she states.

Tumeka is taking tennis lessons with her children in the hope that they will play each other as a bonding activity. She is also rekindling her love for the piano having been quite musically inclined as a child.

Lately, she has fallen in love with research and is less interested in teaching. Her current read is Can we talk about race? by Beverly Daniel Tatum. It is aligned to her passion for transformation which she believes is a priority agenda for South Africa. ‘The Black Economic Empowerment (BEE) policy may have been poorly implemented but without it we would be worse off,’ she opines.

Tumeka’s favourites

Favourite car – ‘Porshe 911 Turbo S. Not sure if I will ever own one though because I cannot imagine paying over R2 million cash for a car. I don’t believe in incurring large debt for cars.’

Favourite book – ‘1984 by George Orwell. It is a great piece of social commentary written in 1949 predicting the future. The book is still relevant to life today.’

Favourite movie – ‘The Sound of Music. I am so excited that the theatre production is back at Teatro Montecasino this month.’

Favourite restaurant – ‘Ukko in Bryanston.’

Favourite meal – ‘Umphokoqo na masi (crumbly maize meal with sour milk)’

Favourite app – ‘Facebook’

Favourite holiday destination – ‘Mauritius because you can go there with no itinerary and just have a chilled time at a resort.’

You May Also Like
Financial Minds: LinkedIn
Latest
From touchline to bottom line: CFO Dhesan Chetty’s success playbook

From touchline to bottom line: CFO Dhesan Chetty’s success playbook

In 2005, Dhesan Chetty experienced heartbreak when AC Milan, his beloved football club, lost the UEFA Champions League Final to Liverpool after leading 3-0 at halftime. However, for Chetty, the story didn’t end there. Two years later, Milan triumphed over Liverpool in...

Johan Snyman promoted to CFO of Petra Diamonds

Johan Snyman promoted to CFO of Petra Diamonds

Petra Diamonds, a leading independent diamond mining company, has announced the promotion of Johan Snyman to the role of Chief Financial Officer (CFO). Johan officially assumed his new responsibilities in October 2024, after serving nearly a year as Group Financial Controller within the organisation.

GM Julia Matabane lives life with no regrets

GM Julia Matabane lives life with no regrets

Julia Matabane is the general manager responsible for finance at the listed company Wesizwe Platinum. Her icon is her late mother, whom she remembers as the strongest and most giving person she has ever known. Her mother’s resilience and generosity continue to be a source of inspiration in Julia’s life. An ordained pastor, Julia’s favourite book is the Bible, which she turns to for wisdom and guidance.

What I have learnt about investing in happiness outside my career

What I have learnt about investing in happiness outside my career

Having recently moved countries, left behind family and friends, changed jobs, and basically experienced what Gen Z would call a ‘lifequake,’ I understand change, a growth mindset, and doing hard things. This journey has got me thinking about what investing in yourself means.

Why returning to EOH was CFO Ashona Kooblall’s best ever decision

Why returning to EOH was CFO Ashona Kooblall’s best ever decision

Ashona’s return was a surprising turn of events that was welcomed by the leadership and finance teams of EOH. Her resumption was met with great excitement from all stakeholders, including customers with whom she had built strong relationships. She believes this is the best decision she has ever made as she loves what she does and feels suited for the role.

CFO Peter Kimingi chooses impact over glamour

CFO Peter Kimingi chooses impact over glamour

‘Prior to joining the non-profit sector, one should ask oneself what makes one tick. If one is happy chasing a high-profit corporate job, this is not the right sector. This is a space for people looking to have an impact at a fundamental level and to create real change in people’s lives. It’s a shame that people often see this area as one for second-class citizens yet it is a critical cog that fills the void left by government and the private sector neglecting certain societal needs. It may not be glamorous, but if impact and meaningful work are what you’re looking for, then this is the sector for you,’ Peter says.

Raakesh Khandoo elected CEO of Crowe Johannesburg

Raakesh Khandoo elected CEO of Crowe Johannesburg

The partners of Crowe Johannesburg have announced that Raakesh Khandoo has been unanimously chosen to take on the role of CEO. Since joining the firm in 2004, Raakesh has demonstrated unwavering commitment, completing his articles of clerkship, earning his chartered accountant qualification, and becoming a partner in 2008. He will assume the role of CEO, on the1st March 2025.