Nompumelelo Thembekile Madisa, known as Mpumi Madisa, is a prominent South African businesswoman currently serving as the CEO of Bidvest.
She became the CEO of Bidvest Group on October 1, 2020, marking her as the first Black woman to lead a top 40 company on the Johannesburg Stock Exchange.
Madisa holds multiple degrees from Wits University, including a master’s in finance and investment.
Her career spans various leadership roles within Bidvest since 2003, and she has been recognized in Forbes’ list of the world’s most powerful women.
Humble beginnings and growing up
Madisa grew up in Sebokeng, South Africa, raised by a single mother who worked as a teacher to support her and her three siblings.
Despite financial struggles, she persevered through her education during a tumultuous time marked by apartheid violence, often requiring assistance to attend school.
Notably, her early life experiences instilled resilience and determination, which later propelled her into a successful career in business.
Education
Madisa completed her primary and secondary education at Sancta Maria Junior High and Mondeor High School, respectively.
She then attended Wits University, where she earned a Bachelor of Science (BSc) degree in Economics and Mathematics, a Bachelor of Commerce (BComm) Honours degree in Economics and a Master’s degree in Finance and Investment.
Early career
Madisa started as a trainee marketing assistant at Hollard Insurance, where she worked for 18 months.
This role provided her with foundational experience in marketing and client relations, allowing her to develop essential skills in understanding customer needs.
After her time at Hollard, Madisa joined Prestige, a subsidiary of Bidvest that specializes in cleaning and facilities management.
As a client relations manager, she focused on building and maintaining relationships with clients, ensuring high levels of customer satisfaction.
Madisa then transitioned to the public sector, taking on the role of chief director of transformation at the Gauteng Department of Agriculture and Rural Development.
In this significant position, she was responsible for driving transformation initiatives within the department, promoting inclusivity, and addressing historical imbalances in the agricultural sector.
Later career
After her impactful stint in the public sector, Madisa returned to Bidvest, where she had already established a foundation.
She advanced through various leadership roles, first serving as corporate affairs director, where she managed corporate communications and stakeholder relations.
Subsequently, Madisa became the sales director, responsible for driving revenue growth and expanding market share for Bidvest’s various business units.
Ascension to CEO
Madisa was appointed CEO of Bidvest Group on October 1, 2020.
This significant milestone made her the first Black woman to lead a top-40 company on the Johannesburg Stock Exchange.
Her journey to this role began when she was named CEO-designate on March 8, 2019, and she worked closely with the outgoing CEO, Lindsay Ralphs, to ensure a smooth transition.
South African President Cyril Ramaphosa praised her appointment as a victory for gender transformation in business.
“The emergence of Mpumi Madisa as Chief Executive of a major corporation in our economy is a significant personal achievement that also signifies a new advance in gender transformation in business.
“Madisa’s life and career trajectory is an inspiration to all of us, while Bidvest’s succession plan sets an example for many companies, especially at the level of the JSE Top 40, in the development of human capital and the transformation of our society,” Ramaphosa said.
Under Madisa’s leadership, Bidvest’s market capitalization surged to R93.84 billion ($5.2 billion), driven by a remarkable recovery from a R186.9 million ($10.31 million) loss in 2020 to a net profit of R6.77 billion ($373.77 million) for the fiscal year ending June 2024.
In 2023, Madisa received a total compensation package of R66.95 million ($3.7 million), marking a 48.27% increase from the previous year.
Additionally, she owns 147,420 Bidvest shares valued at R40.53 million ($2.24 million), reflecting her strong financial stake in the company.
