Funeka Montjane bestowed the 2024 AWCA Woman of Substance Award

Standard Bank Personal and Private Banking CEO Funeka Montjane has received the African Women Chartered Accountants (AWCA) organisation's 2024 Woman of Substance Award.

This prestigious accolade celebrates female leaders who have made significant contributions to the chartered accounting profession and uplifted others as they rise in the business, social and economic landscapes of SA. 

Previous recipients include Gloria Serobe, Futhi Mtoba, Brigalia Bam, Phumzile Mlambo-Ngcuka, Judy Dlamini and Irene Charnley.

Awardees also play a significant role in raising funds for the AWCA Bursary Fund, which provides financial support to female tertiary students who aspire to be chartered accountants (CAs).

In addition, the fund helps to address the shortage of qualified African (black, Indian and coloured) women CAs by providing critical funding for postgraduate studies, enabling students to complete training contracts, board exams and achieve CA (SA) qualification. 

Upon receiving the award at the 2024 AWCA fundraising banquet in Sandton, Johannesburg, on Thursday, Montjane expressed her gratitude and highlighted the importance of advancing women in the corporate space. 

“I am deeply honoured to receive the Women of Substance Award. This recognition is not just for me, but for all the women who are walking this journey. My path to becoming a CA (SA) began in grade 7 when I first read about [the profession's] existence. The journey was challenging, but I had a supportive environment, from my grandmother to my first manager, who helped me along the way,” says Montjane.

“This achievement is a reminder that we must continue to create supportive and enabling environments where CAs can thrive and reach their full potential, regardless of gender. By working together we can build a future where women are empowered to lead, drive change and make a significant impact.”

Montjane learnt about the chartered accounting profession when she read a news article stating that CA (SA) professionals earned R10,000 a month. At the time, her grandmother earned a monthly salary of R100. She was in a school where one or two pupils passed matric and was not good at mathematics — a key subject to studying accounting. But her grandmother would not allow her to drop mathematics when she struggled with it. Instead, she got her a tutor who helped her get an A, allowing her to attend at university.

When Montjane decided to pursue chartered accountancy, there was only one black female CA (SA) in the country, fellow Women of Substance Award winner Nonkululeko Gobodo. This scarcity intensified her determination.

Montjane was selected as the recipient of this year's award in recognition of her unwavering commitment to empowering women and fostering inclusive growth in her industry. 

“Funeka exemplifies the essence of the Woman of Substance Award. Her dedication to uplifting others and her remarkable contributions to the business and banking sectors are commendable,” says AWCA president Buhle Hanise.

“This award is crucial in building solidarity among women and helping to highlight the importance of fostering a sustainable pipeline of professional African women CAs.

“By empowering excellence and inspiring change in her own career and the banking industry at large, Funeka embodies the AWCA’s mission to identify, nurture and lead. Her achievements reflect the broader impact of the AWCA in driving excellence and change within the profession and society at large.”

This article was sponsored by Standard Bank.