BACKSTORY: Banking CEO Pravesh Sunker

What’s your one top tip for doing a deal?

It is important to understand the detail, and don’t be afraid to ask questions. Don’t rush into solution mode. Take time to understand the problem and the outcome you are trying to achieve.

What was your first job?             

I started off as a teller in a branch at one of South Africa’s leading banks. I took on this job while studying BCompt at Unisa.

How much was your first pay cheque, and how did you spend it?

I must admit I can’t remember, but knowing me, I probably saved 50% of it. I am very conservative and always like to save for a rainy day.

What is the one thing you wish somebody had told you when you were starting out?

I’d like to list a few. Always make time to read, and take small, calculated risks in business. Travel as much as you can — see and experience the world. It will broaden your outlook on life.

If you could fix only one thing in South Africa, what would it be?

I do feel that we need to tackle South Africa’s issues in bite sizes and I personally would look at our education system. We need to make schooling accessible and safe for all. We need more investment in our kids and I don’t feel we are paying enough attention to them.

What’s the worst investment mistake you’ve made?

I invested in mining stocks just before the global financial crisis. I thought I had done enough research and that I had made a sound investment decision. 

What’s the best investment you’ve ever made? And how much of it was due to luck?

I recently invested in a cattle farm. It is too early to say whether this was a good decision from an investment return perspective, but the lessons I have already learnt and its application in my current role at FNB has already made this my best investment decision. I also have a deep respect for entrepreneurs, especially those who are starting off.  

What is the hardest life lesson you’ve learnt?

There are no guarantees in life and we cannot always control the outcome.

What is something you would go back and tell your younger self that would impress them?

Take more risks. In the end, everything will be OK. And if it’s not OK, it’s not the end.

If you were President Cyril Ramaphosa, what would you change, or do, tomorrow? 

Work more closely with the private sector. The skills and solutions to many of South Africa’s challenges are here in South Africa. A good example would be the electricity crisis. The private sector can be a part of the solution if leveraged correctly.