Welcome to the first episode of Young & Ambitious, where I dive into the inspiring journeys of young professionals making an impact in their fields. Today, I am joined by Ruramayi Madamombe, a Chartered Accountant and Senior Manager in Transaction Services at Deloitte. With a passion for corporate finance, Mergers & Acquisitions, and private equity, Ruramayi has worked on some truly transformative deals. She’s not only shaping the future of business through her expertise in finance, but also giving back through her mentoring and volunteer work.
Here is what she had to say:
1. What first got you interested in finance and accounting? Did you always know this was the path for you?
When I was 6 or so, I was standing in front of the then Grosvenor Hotel in Mthatha waiting for my mom’s friend when I saw this beautiful woman, dressed elegantly. I asked her what she did for a living to look the way she did, and she responded, “Accountant.” From that day, I decided I wanted to be an accountant, and I worked hard since then to become one. Along the way, I learnt that there was chartered accountancy, and I wanted more and decided I would not just be an accountant but a chartered accountant. I often joke that I did not allow myself to explore other career opportunities. However, I later learned there is so much I can get to do with the designation.
As for finance (corporate finance), my interest started at university. It was the only module in financial management that challenged me, and I found it intriguing. I thought having a career in corporate finance would keep me on my toes, and I would always learn something new. Now that I am in the field, I realise that I made an excellent choice. I enjoy the growth and development prospects that come with it, as I’m passionate about personal growth and development.
2. You’ve worked on big deals in corporate finance and private equity. Can you share a project or experience that was especially exciting or challenging?
I predominantly work in transaction services (financial due diligence and now share purchase agreements advisory). Each deal presents unique opportunities and challenges. I have had the privilege of working on a few notable deals that are now publicly announced. One of the most exciting deals involved a consortium of private equity funds investing in South Africa’s largest online store. The most captivating aspect of this project was the realisation of the incredible potential of data analytics and the insights it can provide to make informed commercial decisions.
Another exciting deal I worked on, also in the public domain, taught me the significance of intelligent packaging solutions. These solutions significantly contribute to farmers exporting fresh produce globally, expanding their customer reach to previously inaccessible markets due to a lack of innovative solutions. The most rewarding aspect is witnessing these remarkable deals go through and have real social and economic impact. But all of it comes with its challenges. I also worked on numerous deals that have not gone through as the economic conditions have not yet allowed for their progress, but hopefully, in the future, they do go through.
3. Your research in behavioral finance sounds fascinating! What’s one money mistake people make because of psychology, and how can they avoid it?
I could spend hours talking about this as it is something I am truly passionate about. Money matters, where I am from, is not something people openly discuss as we are conditioned not to, for various reasons. We are a sum total of the environments we have been exposed to, and we pick so many things from them, some good, some not so great. To get a better handle on your money matters, you need to understand what makes you, and what you have learnt along the way, the things you need to unlearn and relearn.
When I interviewed people for my research, one of the fascinating things was always when we started, I would ask people if they believe they make decisions independently and if they believe they have been influenced by their environments one way or the other. The response was always, “No, I’m an independent thinker, and I make my decisions by myself,” but at the end of each session, we laughed it off as everyone realised, by going through the memory lane, that we are truly a sum total of every environment we have been exposed to, either good or bad.
4. The finance world is always changing. What skills or habits have helped you stay ahead and grow in your career?
I believe the biggest skill set is the ability to learn, being inquisitive about how things work. If you love to learn and develop, you will always be in a position to learn anything new. Technology is forever changing; a technology skill you master today might not be as relevant tomorrow. But if you master the ability to be agile and love learning, you can always move with the technology.
I love learning. I am always fascinated by how things work and operate, and I always want to figure them out. Even if when I don’t know anything, I always say it’s ‘figuratable.’ You can always figure anything out with the right attitude and teachable spirit. The rigidity of formal education sometimes gets in the way of the ability to learn. I always allow myself to stay educated. And in the wise words of Grant Allen (emphasised by Mark Twain), ‘Never let your schooling interfere with your education.’
5. You do a lot of mentoring and volunteer work. Has there been a student or mentee who really inspired you?
I am inspired by all of the students and mentees I interact with. They all have their unique perspectives and paths taken to get to the point we meet in life. The sheer determination and dedication some have shown to succeed in life leaves me in awe. I learn as a person and also as a professional through interacting with all different people. The biggest lesson or inspiration interacting with some of them is how they are really self-conscious and how they are in tune with their emotions.
In my journey to be more self-conscious and better my emotional intelligence, I always find interacting with them refreshing and very educational.
6. Looking back, what’s one piece of advice you wish you had when you were starting out?
It’s not personal. I think growing up, I learnt to make things personal. We are all consumed by our own lives, and someone’s reaction to something is a response based on their current state of mind or life experience and not a reflection on you. Sometimes people are just people, and it’s not because of you, or anything you have done.
I know you said one, but another piece of advice is it’s not that deep. In the moment, it’s very hard to see it, but down the line, you do realise it’s really not that deep. I shouldn’t take myself seriously; just maybe I can achieve all that I want to. We tend to think that life is linear, and we have to follow certain steps to get to the point we need to get and also allow fear to dictate what we do because we believe people are watching. This is not the case; do not take yourself seriously to the extent that you are crippled by fear to pursue what you want. So what if you fail? How do you know you will fail? You just might succeed. Bet on yourself and don’t take yourself seriously.
7. For young people who want to make an impact in their careers, what’s one mindset or habit that has helped you succeed?
Oh my! You said one, well here are a few. Have a teachable spirit and be open to learning from anyone; life and professional skills in most cases come from unexpected situations. Importantly, be true to yourself; you can only do you. It’s important to have mentors and people you look up to, but more important to keep true to yourself.
I have learnt to take habits I love and do not possess through my interactions with so many people who have knowingly or unknowingly mentored me along the way but still remained myself because I can only do me well. What I have noted along the way is sometimes young professionals look up to senior people to the extent that they become a mini version of them and lose themselves in the process, which is sad because you can look up to people and learn so much but still remain yourself.
Ruramayi’s journey in finance and accounting is a testament to the power of ambition and staying true to one’s path. From a young girl fascinated by a woman’s elegance to becoming a leader in corporate finance and private equity, her story reminds us that success doesn’t happen overnight, but through continuous growth, resilience, and a teachable spirit.
For young professionals looking to make an impact, her advice resonates deeply: don’t take yourself too seriously, embrace learning, and always bet on yourself.
What’s the one thing you’re willing to bet on to shape your future?
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