UCT Graduate Turned Banker Soars in Corporate World After Landing Top Graduate Programme

• Khayakazi Mngaza discovered her passion while studying commerce at the University of Cape Town
• She quickly found success as an investment banker at Rand Merchant Bank (RMB) after getting a spot on a competitive graduate programme
• Despite challenges in the working environment, Khayakazi shared one of her proudest moments when she was involved in a major deal with a leading finance institution
• Briefly News spoke to Khayakazi about her success in the banking world, leading to her recognition as one of Briefly News' 2025 Young Money Makers

Khayakazi Mngaza started her career in investment banking after getting familiar with it in her third year of studies at the University of Cape Town (UCT). She settled on her career path one year before finishing her four-year degree after her current employer shared information with students.

Khayakazi told Briefly News that while studying for her degree in commerce, she could not yet picture how she would use it in the real world. The opportunity provided by RMB opened her eyes to where she was headed, and she was soon accepted for a winter programme at the bank.

Khayakazi Mngaza went from graduate to banker

Khayakazi is a Bachelor of Business Science majoring in Finance and Accounting UCT graduate. She explained that she changed from BCom Financial Accounting in the second year after realising that there was a broader option, which was an honours-level degree.

The UCT graduate explained to Briefly News that she made the switch to Business Science after she'd enrolled for a BCom in Financial Accounting, because she didn't know any better:

"When I got to uni, I don't think I knew enough about the other options that were available in the finance space. Once I got there and then I started seeing other things and finding out or hearing of other programmes, I was like, actually, this might be more suited for what I'd like to do."

Following her graduation, Khayakazi moved on to apply for an investment banking graduate programme. Khayakazi celebrated after she was selected to be one of the 15 out of 100 graduates to be included in the bank's graduate programme.

She said the graduate programme was effective as it put her in a concrete role as an Investment Banking Transactor from the start. Khayakazi explained that the job linked her with helpful team members:

"The team that I'm in right now, even though I've moved around a little bit, is the team that I started out in as a grad. I guess compared to previously, where they had more of a rotational program. We kind of just went straight into a particular business area."

Banker makes industry big moves

Khayakazi Mngaza shared that her most memorable moment at RMB as an Investment Banking Transactor was being involved in a bond issuing transaction for one of Africa's leading development finance institutions.

She mentioned that her team helped bring the financial institution back to the market after years of absence. Khayakazi was proud to be involved in the major deal:

"The issuer had been absent from the market for about 3 years but was able to achieve tight pricing on their $500M (R8 billion) bond, with the issuance generating significant interest from investors across Europe, Asia, the US and the Middle East."

How to find success as a banker

The participant of Briefly News' Young Money Makers: Career Pioneers said that her job is well done when she has provided her clients with solutions to their unique needs. The investment banker said her role values client satisfaction as the ultimate measure of success.

Upon entering the corporate world, Khayakazi realised that careers are often labelled as a fast-paced world for a reason, but it was up to her to draw boundaries. She said:

"Banking is notorious for being a high-pressure environment and very demanding, which means often times the work just never stops, there's just always something to be done, and 90% of the time it's tagged as urgent, so it's often hard to 'switch off' and just step away from the work."

Khayakazi explained to Briefly News that she needed to learn to step away from work and resist the temptation of being available 24/7. She forced herself to respect business hours by switching off notifications to emails and work communication platforms such as Teams. The banker said she was also grateful to work with people who understood that everyone cannot always be available, and she has colleagues who respect boundaries.

Khayakazi also highlighted that she had to understand that the key is to have a work-life balance. She admitted that it's been tricky to achieve it, but she is making progress after realising that they will always be traded off and which relieves some of the pressure of her job:

"For example there are times when I will have to pull out my laptop and do some work on a Saturday, but similarly, there will be a time when I will need my team to go ahead with a meeting on a Tuesday morning without me because I need to take my baby to the doctor."

How does banker find work-life balance?

Khayakazi said spending quality time with her friends and family is very important, and so is being mindful and completely present in those moments.

"Make it a point to be fully present in that moment, making sure that they know and can feel that this is 'their time' and at that moment, they are what matters the most."

Khayakazi emphasised the importance of having a support system. She said a supportive partner has been key to her success. The banker said having someone who is always in your corner is the best remedy when working in high-pressure environments.

"Having a supportive partner who is the perfect buffer from stress and pressure for me even when things are out of whack at times."

How should university students prepare for the working world?

Khayakazi advised the youth that anyone who may be pursuing a Bachelor of Business to focus wholly on their studies, especially in the first three years. She said to Briefly News:

"I know there may be is a bit of pressure to start doing stuff but to be honest, I think there's very little you can do in the first year.

"You'd probably benefit more by focusing on your studies and adjusting to the changing environment.

"The university environment is very different to the high school environment that you'd be coming from."

For students in the third year and onwards, Khayakazi told Briefly News that university students can take advantage of career day by chatting with different companies. The banker encouraged networking by engaging with companies, showcasing opportunities to students, so that you are well-informed of the wide variety of choices.

More participants of Briefly News' Young Money Makers: Career Pioneers

• Pamela Mtanga is a multimedia personality, entrepreneur, and philanthropist from the Eastern Cape and was named one of Briefly News' Young Money Makers.
• Tomi Rikhotso, a fashion designer and musician from Soweto, dressed some of South Africa's top A-listers.
• Marvel Shivambu, a self-taught developer from Gumbani village in Limpopo, co-built the Novar app with Malunghelo Mathonsi to provide quality education to all learners, regardless of their background.

Source: Briefly News