Milingoni ‘Mili’ Nemutshili: “Accountancy is about more than numbers”
From the outside looking in, many people perceive accountancy professionals as working in finance silos and dealing only with the books of a business. The reality is that this couldn’t be further from the truth, says Milingoni Nemutshili – or Mili, as he often goes by.
Mili was recently appointed the Chief Financial Officer at Central University of Technology in the Free State. While his role is rooted in ‘the numbers’, it also involves dealing with and mitigating risk, building financial sustainability, and looking into ways for the institution to generate more revenue outside of grant money and tuition fees.
As such, he plays an active role in investment, looking into how the institution’s non-income generating facilities, such as sports stadiums and hotel school, can be commercialised, and is even working towards developing student housing to realise a ‘living and learning’ environment for the university.
“Being a Professional Accountant (SA) is about more than the numbers. We play a central role in using, analysing and interpreting data, we play a key role in the decision-making process within businesses in terms of analysing and mitigating risk, and we are at the forefront when it comes to preparing an organisation for the future,” he says. “Because of our role in financial matters, we are also perfectly positioned to enhance organisations and institutions to make them better for all stakeholders.”
He brings over 22 years of experience in financial and supply chain management to his role, having held senior roles in both the private and public sectors (local, provincial, and national) and higher education institutions.
Despite an extensive background across a range of industries, from waste management to the finance head of a number of governmental departments, he believes that being an accountancy professional isn’t about the fame or money, but using your skills to serve the community, support the vision of an organisation, and be an example to others – especially the youth.
“Accountants think about tomorrow, and I believe that to be an accountant you must learn to be selfless, because you are not there for yourself, you are there for the business and the individuals who rely on your expertise and guidance.”
He recognises that this also leaves accountancy professionals with little time for themselves or breaks, having landed himself in a hospital for a week, unable to walk, as a result of burnout and overworking. This, he says, was a tough but important wake-up call for him.
“Working in finance means there’s no rest time. You use your brain 24 hours a day, and no one can make decisions without you because they either don’t have the authority themselves or they would rather not be accountable for potential mistakes. All of this can become stressful, but it’s important to prioritise, take breaks whenever possible, and most importantly hold your family close. An accountant without family or support and care around them is in an unfortunate situation,” he says.
Mili attributes his love for numbers and his entry into the profession to his mother, who he says, with just a standard five-level education, would deal with finance and accountancy principles as an admin clerk in the forestry department without even realising she was doing the work of an accountant. “It’s my mum who drove me to become an accountant,” he says proudly.
He is also unwaveringly #SAIPAProud. “I am very, very proud to be a SAIPA member. I wouldn’t be where I am today if it weren’t for SAIPA. And that’s because the organisation has been doing things differently to other certification bodies for a long time now, from its continuous development programmes that cover everything from business and tax to contracting management and ethics.”
“When it comes to tech and innovation in the profession, I can tell you Prof. Small was talking about AI and the importance of accountancy professionals embracing it years ago, long before it became the popular topic it is now,” says Mili.