In the Spotlight: Fikile Mbhokota, Chief Executive Officer (CEO) of Satrix

Meet Fikile Mbhokota, a seasoned leader in the financial services industry with aims of true financial inclusion in South Africa.

Tell us about your role and some of the exciting challenges and contributions it brings to our business?

As the CEO of Satrix, my primary responsibility is to develop the Satrix vision and strategy – within the over-arching Sanlam Investments strategy. This means having a thorough understanding of the different target markets within the Satrix business – essentially the current and next generation of investors in South Africa. This is especially important to me because true financial inclusion means ensuring that our products are accessible and that we launch the right products for our clients, who may have been previously excluded from the opportunity to grow generational wealth. Education and reducing financial inequality are essential in our country, and for our business. In this context, I represent Satrix as an official spokesperson, by communicating with external and internal partners, the Satrix board and media. Closing the gender gap, ensuring that women are included in financial growth and opportunities when it comes to investing is also important to me, and I address that in some of the projects that I do. I also lead the executive team in driving these aims, both in the short- and longer-term focus areas.

Your career journey is fascinating. Tell us about what it took to get to your current role.

I started out as an investment consultant in 2006 and I really enjoyed it because it felt meaningful, and I could see how our work could make a difference to those in need in South Africa. Through the work I did, I was able to make a difference in terms of determining investment strategies, conducting manager research and selection for the pension funds I worked with, and for the board of trustees I engaged with. This affects ordinary people, our parents and grandparents who were hardworking people who deserved for their funds to work well for them. I really enjoyed the opportunity to conduct education sessions for members of the pension funds.

In 2016, I joined the Government Employees Pension Fund, where I eventually became acting head of investments and actuarial, while also taking on a role as portfolio manager for a private equity portfolio in Africa. This was another valuable experience because it allowed me to consider the long-term future of people who were tasked with building our country. Thereafter, in 2022, I was approached to join Satrix as its Chief Executive Officer. Making investments accessible and ensuring financial inclusion and financial literacy helps me to fulfil my goal of making a difference.

To this end, I am currently studying towards my PhD in Finance, majoring in private equity, firm performance, governance and economic growth in Africa.

Why did you choose Satrix as the next opportunity for you to make a significant difference?

Satrix is already a leader in the indexation space, with a strong track record, and we have a strong and recognisable brand. This means we’re well-positioned to increase our market share – which of course enables us to get more people investing and take more people along on our journey.

A big key to our success is leveraging technology and using it optimally. We’re in the business of making investing accessible to anyone, so transparency, accessibility and simplicity are pillars of our offering.

Our product range and decision-making are driven by local and global trends, which include the increased focus on index investing, escalating fee pressure, a demand for transparency and serving the needs of new markets.

Also, having the right people in place in our business ensures that everything comes together the way it should. A strong team and culture are non-negotiable. We need an environment where people can thrive and contribute because they feel valued and that they can make a difference.

Do you have advice for young, aspiring CEOs?

To create alignment to my purpose and to ensure I go the extra mile, I need to find the perfect blend of vocation, passion, profession and mission. This influences my work by making the strategic plan very clear. Knowing why you’re doing something makes it easier to get back up and try again when things don’t go well. It also ensures that you focus on the end goal and not only on the time taken to get there. Success is not linear, and everyone’s path is different. I am also naturally resilient, which helps.

How do you navigate such a demanding industry while maintaining a healthy work-life integration (if it is possible)?

I have a very structured approach to ensure I use time efficiently and that I work optimally – in my personal and professional space. I don’t like to waste time, so whether I’m at work, at home with the kids, or at the gym, I try to be fully present and engaged with whatever I’m doing at that moment. Time is something you can’t get back, so discipline around time management is critical. Every week my PA and I go through my diary to ensure the available time is allocated correctly.

And, of course, it’s important to take breaks so that you stay energised and motivated. I try to take time off at least twice a year.

Closing thoughts? What are your plans for 2024?

I have a strong social conscience, so sharing my success and giving back to the community is very important to me. I’m also a runner and I listen to podcasts regularly – these pursuits ensure I stay physically and mentally on top of my game. Excellence, and being the best person you can be, involves taking small, daily steps which add up over time. Studying and continuous learning is also important to me, and hopefully I inspire others to do the same!

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