BDO is pleased to announce the appointment of Bonga Mokoena as its new CEO, effective May 2022, a role previously held by Mark Stewart who steps down after two terms in office, following several years of growth under his helm from 2014.
Following Stewart’s successful tenure marked by increased revenue for BDO, Mokoena enters at a time of promising renewal and opportunity. The development of BDO is aligned with solutions that benefit clients and society at large. This potential is realised by creating opportunities for members of the BDO team to self-actualise.
“I will be working closely with Bonga while he familiarises himself with the BDO brand, our people and our business. I am confident that he will be a great asset to the firm. Together with the BDO Executive team, I’m very excited to have Bonga join the firm and wish him much success in his term,” says outgoing CEO Mark Stewart.
Alongside helping Mokoena adjust to his new position, Stewart’s focus will now shift to working more closely with the BDO’s EMEA offices and growing the firm’s footprint in the region.
Mokoena comes to BDO with a wealth of knowledge and experience, having held various senior executive and leadership roles at Alex Forbes for almost 13 years, which includes; Head of Institutional Cluster Businesses, Managing Director/Executive of Actuarial Consulting Solutions & AF Group Public Sector Divisions, CEO of Alex Forbes Emerging Markets (Pty)Ltd and recently, AF Group Executive of Market Development Division.
As a qualified CA(SA), Mokoena spent much of his career as an internal auditor at Nedcor Bank Limited, Metrorail and Transnet before moving on to Old Mutual as an Industry leader in 2005 within Old Mutual Corporate Division. He then joined and worked at Eskom Pension and Provident Fund (EPPF) as its Chief Executive and Principal Officer for almost 2 years during 2008 and the better part of 2009.
“Our focus on development forms a key part of an innovation-led approach. The idea is that inspired people come up with innovative ideas. Those ideas then grow into new products or services that generate additional revenue streams. Specialising in responses to climate change as well as technological developments are two areas in particular where our team are constantly innovating. In doing so we help develop our clients, and the economy, leading to a more investment-friendly environment,” says Mokoena.
Another important feature of development Mokoena sees as a great opportunity for the profession is mandatory audit firm rotation, as it is set to become a critical feature which looks to help ensure improvement on concentration issues, improvement of trust in quality of audit outputs and independence, and the creation of space for more players aligned with greater transformation within the industry.
For Mokoena these critical aspects going forward are underpinned by the BDO Clarity Charter. “The values and principles espoused in the Clarity Charter resonates deeply with me. I share these sentiments especially as they place ethics, independence and quality above who we are, what we do and how we impact our clients, stakeholders and society at large. By having our actions underpinned by Clarity, we have the ability to effect change in South Africa by having honest and tough conversations,” says Mokoena.