BACKSTORY: Michael Berner of Visa

Michael Berner, head of Southern and Eastern Africa at Visa

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

Always aim for long-lasting partnerships that are focused on growth. I strive to create deals in which each party makes some compromises but also gains significant benefits in the long term. This approach not only ensures mutual satisfaction but also fosters enduring partnerships built on trust and collaboration.

What was your first job? 

When I was a student, I was always interested in financial services and particularly in payment cards. I had seen the usage of them abroad and in the movies, but they were not yet issued in my country. When this modern way of payment made its way to Russia, it coincided with the time I was looking for a job upon graduation. I got an offer from one of the first foreign banks in the country. My first job was a customer sales and service manager in one of the branches.

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

I remember this very well. I was 22 at that time, and my first pay cheque was exactly $440, no small amount in Russia in the late 1990s. I took my girlfriend to celebrate in a good restaurant and bought flowers for my mom.

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

When I was starting my career the concept of coaching and mentorship was not as well defined as it is now. I have been fortunate to work with great leaders who invested their time in coaching me. They taught me invaluable lessons, such as the importance of trusting the people you work with and assuming positive intent while also being unafraid to make tough decisions and tackle challenging tasks.

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

If I could fix one thing, it would be to improve the future prospects of younger generations. Access to quality education and the creation of new job opportunities for all groups are critical elements in uniting the nation. These efforts would have a cascading impact on public security and drive economic growth, ultimately fostering a more prosperous and harmonious society. 

What’s the most interesting thing about you that people don’t know? 

I am an avid traveller, a stamp collector and an aviation enthusiast. I have accumulated a big collection of stamps, many of which are from Africa, and this has fuelled my curiosity and love for the continent. I have travelled to more than 70 countries, and now, in my current role, I have the exciting opportunity to explore many new destinations, especially in Southern and Eastern Africa. This new journey allows me to see the places that have long fascinated me through my stamp collection. 

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

Fortunately, I haven’t had a bad investment so far, touch wood. I consider myself a pragmatic investor who always weighs risks and benefits carefully.

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

For most of my life, I’ve been lucky enough to live in countries with emerging economies — this environment comes with many risks but also brings numerous opportunities. Since joining Visa, I have made it a habit to invest 10% of my monthly income in Visa stock every month. This has turned out to be an excellent investment so far.

What’s the best book you’ve read recently and why did you like it? 

I’ve started reading Stalking Giants, a history of Capitec written by TJ Strydom. As a career banker, I am very impressed by the long-term vision and execution skills of Capitec’s founders.

What’s the hardest life lesson you’ve learnt? 

Nothing in this life is constant. Things may change overnight and unexpectedly, and this may affect you, your family and your colleagues. You need to be ready for change, embrace it when required and stay resilient.

What phrase or bit of jargon irks you most? 

Nothing specific comes to mind in terms of jargon. However, I do get frustrated when people say they can’t do something without even trying. I believe in the power of perseverance and a positive mindset.

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

Hey, man, do your best, never give up, and keep your sense of humour! One day you’ll find yourself in a completely different and fascinating part of the world, doing something you really enjoy and surrounded by incredible people. So hang in there — your future self will thank you! 

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

South Africa has a great opportunity to lead the digital transformation in Africa. I would ask that we build on the great track record of collaboration between the public and private sector in helping more individuals and small businesses access and reap the benefits of the digital economy.