How grit begets greatness – CEO Althea Discala’s leadership journey

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How grit begets greatness – CEO Althea Discala’s leadership journey

Jul 22, 2024 | Interviews, Strategy & Leadership

Althea Discala is a dynamic and accomplished executive with extensive experience in investing, portfolio and business management and strategic leadership. Currently, she serves as a Non-Executive Director at Zutari and is the Founder and Chief Executive Officer of Discala Holdings, an investment holding and consulting company focusing on impactful sectors such as healthcare, renewable energy, agriculture, food, education, and financial services. Her company aims to create financial returns for shareholders while making a significant social impact, particularly through job creation and supporting businesses poised for growth. Althea’s leadership is characterized by her ability to set strategic goals, manage daily operations, and foster effective communication with stakeholders.

Before founding Discala Holdings, Althea held several high-profile roles, including Chief Executive Officer at Masimong Group Holdings, where she managed top-level decisions, strategic goals, and daily operations, overseeing multiple investment companies across various sectors. Her career also includes significant positions at FNB South Africa as a Senior Deal Maker, and at Standard Bank Group as a Senior Real Estate Investment Deal Maker. With a strong foundation in financial analysis, business development, investment management, and executive leadership, Althea has consistently demonstrated her ability to drive growth, manage crises, and lead high-performing teams. Her journey reflects her commitment to financial excellence and social impact, making her a respected figure in the corporate world.

The first of three daughters, Althea grew up in the coloured township of Bosmont. They didn’t have much materially, but it was a serene upbringing within a strong family unit sustained by Christian values. “My dad loved accounting, and all his three girls followed in his footsteps,” Althea explains. “My mum was a teacher, and I have that teaching and coaching spirit in me as I want to develop others. I read about the chartered accounting career in Reader’s Digest which inspired me to pursue the discipline. I won academic awards because of how much I loved it. It brought me joy to see things balance, and finance is also the language through which numbers tell a story.”

Going the extra mile

Althea passed her board exams the first time and qualified as a CA at 25. The journey was difficult because she lacked the financial resources while studying accountancy at Wits University. This was due to her father facing retrenchment from his job as a meter reader, after which he ventured into business. Althea had various jobs such as handing out flyers, reading meters and call centre agents to make ends meet, but she appreciated the value of education, as later proven by her pursuing a self-sponsored MBA at Gordon Institute of Business Science.

Althea’s career highlights include becoming a CFO at age 36 and rising to CEO a year later. She has served as a non-executive director for eight years, including chairperson of audit and risk committees and social and ethics transformation committees. To rise to management, Althea cites her X factors as grit, resilience, and perseverance.

“Going the extra mile and being proactive has stood me in good stead. Being excellent in the roles I have been blessed with and taking initiative have been key success drivers as well as being solution-oriented. I have applied myself to all tasks, even when they seem small, and I always treated each company as if it were my own. Above all, ensuring I maintain my integrity and character have been essential qualities in my rise to leadership positions,” Althea states.

“Looking back, I have no regrets, but I do have advice for entry-level employees: strive to be the best in your roles. Seeking excellence makes you noticeable, which leads to promotion. It is important to be patient and avoid switching jobs too quickly. Get some grounding and experience before you move, and when you do move, do so to gain different experiences and exposure,” Althea advises.

Inspirational leadership

After many years in leadership positions, Althea has determined leadership to be about inspiring and empowering others to be the best that they can be and to believe in the vision. In her view, leadership is about inspiring others to be the best version of themselves, while management is about getting people together to perform tasks to accomplish the vision. Althea has had her fair share of challenges in life, including the sudden death of her father from an unexpected heart attack. The tragedy taught her to live each day as if it is her last and to avoid putting off pursuing her dreams.

“The Covid pandemic was another crisis that we all faced, and all business leaders were forced to adapt to change. When change happens in one’s personal and professional life, one needs to respond and not react. The key, I have found, is to keep a level head as nothing is permanent, and the storm or crisis will pass. A good leader should anticipate that crises are inevitable; in my experience, one must act swiftly and decisively to manage the crisis,” Althea says.

“The key is communicating with stakeholders, being honest and factual. Delivering news, good and bad, builds credibility. You should also develop a plan to manage the crisis and enlist experts. Entities should remain agile and flexible as new information surfaces and perform scenario analysis. Finally, take a long-term view; besides having a plan to manage the crisis, you should have a sustainability agenda to remain viable after the crisis is over,” she adds.

For Althea, success is first and foremost dependent on self-belief. One must truly believe that they can be successful, then decide what that success would look like. Subsequently, one requires self-motivation and discipline to go for it. Failures and rejections will be part of the process, but one should not let this be a stumbling block.

“One of my favourite books is ‘The 5 AM Club’ by Robin Sharma,” Althea reveals. “It gives practical tips on discipline and managing your day. Another book I love is ‘Eat Pray Love’ by Elizabeth Gilbert, which is a story about bouncing back after a fall. I enjoy self-help and personal development books that focus on overcoming challenges and perseverance. I believe in resilience, grit, and tenacity to succeed in life and as a leader.”

 

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