Mary Vilakazi’s ascent to the helm of FirstRand, South Africa’s most valuable banking group, represents not only a personal triumph but a landmark moment in African corporate history. Born and raised in the township of Alexandra in Johannesburg, her journey began against a backdrop of economic hardship and societal challenges. Becoming a mother as a teenager and growing up in a township known more for struggle than opportunity, Vilakazi demonstrated early on the resilience and determination that would later define her leadership.

By 2002, she qualified as a chartered accountant, a feat that paved the way for her to become a partner at PwC by the age of 27. Her transition into the corporate world saw her serve as CFO at Mineral Services Group and later join MMI Holdings, where she rose from CFO to Deputy CEO.

 In 2018, she moved to FirstRand as Chief Operating Officer, playing a key role in streamlining operations and diversifying business lines. Her appointment as CEO on April 1, 2024, marked a groundbreaking moment—not just as the first woman, but also the first Black woman to hold the position.

As CEO, Vilakazi has quickly proven her mettle, steering FirstRand through a highly competitive and dynamic financial environment. Under her leadership, the group delivered a 10% rise in profit after tax, totaling $1.23 billion by the end of 2024. Total assets increased from R2.37 trillion to R2.54 trillion, and the interim dividend rose to R2.19 per share.

These figures reflect not just financial prowess, but also strategic vision and disciplined risk management. She has focused on expanding FirstRand’s footprint across the continent, particularly in markets like Ghana, Botswana, and Zambia, with an emphasis on growing private banking services and enhancing the customer experience.

Beyond the numbers, Vilakazi embodies a broader mission of transformation and inclusion. Her leadership style emphasizes service, empowerment, and long-term impact. She has been celebrated not only for her business acumen but also for her dedication to mentoring the next generation of African leaders, particularly women.

In 2024, she was honoured with the Greg Boyd Award for her commitment to transformation in the financial services industry and was recently named among Fortune’s 50 Most Powerful Women in Business globally, a recognition that reflects her growing influence both in Africa and beyond.

Mary Vilakazi’s leadership goes beyond driving profitability; it is about reshaping perceptions of what leadership looks like in Africa. Her story is a testament to the power of perseverance and the importance of inclusive, purposeful leadership. As she continues to lead FirstRand into a new era, her example lights the path for many aspiring professionals, proving that barriers are meant to be broken—and that impact, when grounded in values, resonates far beyond the boardroom.