Getting To Know The Amazon
Zimasa Qolohle Mabuse is the Head of Legal & Compliance at Yalu a black-owned Insuretech & Fintech startup that has been hailed as a company that will rattle and disrupt the cage of the multi-billion rand South African insurance industry. A true careerist, Zimasa is also the founding editor of The Corporate Canvas – a contemporary magazine for young professionals which was founded on the premise of elevating the everyday life of the young corporate player and providing incomparable content that ensures women and men are motivated to succeed in their chosen career path. After attaining her Bachelor of Laws (LLB) from the University of the Witwatersrand (Wits) and subsequently her Masters in Corporate Law (LLM) from the University of Johannesburg, Zimasa joined a large Top 5 Bank’s Graduate Programme where she began her career as an Africa Regions Compliance Manager – which gave her an overarching view of the African financial landscape, particularly in Swaziland, Mozambique, Namibia, Botswana & Lesotho – before joining Yalu Financial Services. Zimasa’s areas of practice include Insurance Law and Banking Law.
Her most notable achievements include: being featured in Destiny Magazine’s “Top 40 Game Changers Under 40” issue in November 2015; winning the McKinsey & Company Next Generation Women Leaders Award in January 2016; being invited as a Guest Speaker at the Standard Bank “Branded Youth Conference”; as well as being a Key Speaker & Guest of Honour at the McKinsey Next Generation Women Leaders Dinner 2017. In 2018, Zimasa was featured in True Love’s “Class of 2018” Women’s Month issue as a leader in her field.
How does Zimasa impact society through her practice of law?
It is even remarkable to mention that when The PALM inquired from her on how she impacts the society through the practice of the law, in the Amazon’s clear words, she explained: “When customers take up a loan or other credit facility with a lender, most are aware that the bank makes a profit from the said loan through being charged interest. But there is, in fact, another little-known way that banks make money from credit facilities, and that is through credit life insurance. Essentially, banks make money in 2 ways but never disclose the second method, which in fact makes billions in profits for banks a year!” And that’s where Zimasa comes in! As the Head of legal & compliance, she has the task of ensuring that banks adhere to customer’s rights to switch their credit life policy to a provider of their choice! This entails the task of challenging banks to adhere to customers’ rights entrenched in legislation that customers themselves never knew they had – even going as far as lobbying with regulators -the Financial Sector Conduct Authority (FSCA) & National Credit Regulator (NCR)- to accelerate the adoption of legislation to align with the digital age. Zimasa strives to educate customers of this right, which is entrenched in s.106 of the National Credit Act.
Who are Zimasa’s mentors and who motivates this Tech Amazon?
Zimasa has mentors for various areas of her life (career, life, marriage), however her main mentor is a phenomenal lady by the name of Ntokozo, who currently holds a senior position at McKinsey & Company. “She assists and advises me on various areas such as my career and business, and even goes as far as being someone I go to for personal advice.”
Zimasa is motivated by so many women in the South African business landscape – Khanyi Dhlomo, Carol Bouwer, Ipeleng Mkhari, Peggy-Sue Khumalo to name a few – however nothing motivates her more than working to make her parents proud.
Next big thing She is working on?
In Zimasa’s words, “perhaps I’ll start a fintech of my own one day, who knows?”
What should the millennials do for this generation?
Zimasa believes millennials are hard-working, qualified and intelligent individuals whose bravery and hunger for change will shift the world largely. And she expects that Millennials should continue to make ground-breaking moves in their field of specialty as she truly believes they are changing the world for the better.
What should the millennial lawyer aim to achieve?
“A major task that millennial lawyers have is to shift regulation in favour of placing technology at the forefront, and for human rights to prevail”, Zimasa says. She continues, “We also have the task of ensuring that ethical behaviour remains at the forefront, particularly in light of Artificial Intelligence playing a major role in the work environment in the near future”.
A Lifestyle outside of her career?
“I love my family dearly, and place them above all else. So, my weekends are largely spent with family – my husband, nephews, and my parents. I am also an avid traveller who loves exploring my country, the continent, and the globe, and thus I strive to go on quarterly holidays locally (known as “sho’t lefts” – some of my favourite places to frequent are Kwa-Zulu Natal and the coastal cities of the Eastern & Western Cape); and go on a yearly international trip with my husband.”
Zimasa Mbuse has been rated as one of The PALM’s Top Legal Millennials of Afrocentric origin.