Metropolitan Retail’s new CEO changing the focus

26 June 2014 Metropolitan Retail
Khanyi Nzukuma.

Khanyi Nzukuma.

Khanyi Nzukuma takes the reins as the new CEO of Metropolitan Retail, a division of the JSE-listed financial services group, MMI Holdings, on 1 July after a six-month handover period from Phillip Matlakala.

Nzukuma, who previously headed Momentum Consult, is moving immediately to re-align Metropolitan Retail’s structure to MMI Holdings’ new business model, as part of the drive to achieve genuine client-centricity across the group.

“These aren’t just fine words – this represents a major shift,” says Nzukuma. “We must really understand what our clients need to achieve financial wellness and then set ourselves up to deliver flexible, relevant, positive solutions in ways that they can easily relate to - we cannot simply be selling products.”

He is committed to making the customers his primary focus: “We have a deep understanding of the financial realities of the South African mass market but we need to harness that knowledge better and turn it into valuable solutions for them.”

Nzukuma also says that Metropolitan has taken the FSB’s Treating Customers Fairly process to heart. “For us it isn’t just a set of regulations, it’s an absolute determination for the company to be seen as a trusted and responsive lifelong partner for customers in the financial world.”

To achieve that goal, Metropolitan is focussing on several areas including upweighting financial education programmes, ensuring that all company communication is clear and understandable, improving service channels across the board, and providing innovative solutions which demonstrate transparent value for money.

Nzukuma has 17 years’ experience in the financial services industry, having started his career as an advisor in Queenstown in his native Eastern Cape. Aside from his financial qualifications, which include an MBA, he is also a qualified teacher and has an Honours Degree in Clinical Psychology and a Doctorate in Leadership, which he notes “could prove useful in this big task!”

Khanyi is not a fan of hierarchy, believing rather in a team approach as well as individual potential. “I trust the ability of people to think, contribute, create and deliver.”

He says he is excited about his new role which he sees as being the coach of the Metropolitan Retail team. “I’m looking forward to playing a role in helping South Africa move forward by empowering people to improve their lives and to build wealth. This is critical for our sustainability as a business, and South Africa’s sustainability as a country.”

About Khanyi Nzukuma:

Khanyi Nzukuma, CEO of Metropolitan Retail – a division of MMI Holdings - was born in Queenstown, Eastern Cape. A lifelong student, Khanyi holds a Higher Diploma in Education, an Honours Degree in Clinical Psychology, an MBA and a Doctorate in Leadership.

Khanyi began his career as a teacher before joining Sanlam as a financial advisor. In 2009 he joined Momentum as managing director of AdviceAtWork, a brokerage specialising in Employee Benefits consulting. He was later appointed CEO of Momentum Consult, before succeeding Philllip Matlakala as CEO of Metropolitan Retail.

Khanyi is married to Veliswa and they have three children; Khanyisile, Mila and Lukhanyile. In his (admittedly limited) spare time he enjoys travelling with his family, running, and catching up on reading. He also enjoys the odd round of golf (his handicap is a respectable 14), and admits to a passion for motorbikes…much to his wife’s annoyance.

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