Thriving and being successful in the business accounting field is no easy feat but for Bachelor of Commerce in Accounting and Honours graduate Mr Ntando Phewa choosing accounting was the best career choice.
The co-founder and director of Ukuphila Kwezwe Accountants which offers tax, accounting and advisory services to small to and medium size businesses as well as non-profit organisizations across South Africa says studying accounting at UKZN opened the door to endless possibilities.
‘Choosing an accounting degree was a no-brainer as I did quite well in the subject at school and my studies exposed me to what an accountant does on a day-to-day basis,’ said Phewa.
‘During matric, I was part of a programme run by one of the Big 4 audit firms where we attended weekly Saturday accounting classes on UKZN’s Westville campus. I believe the experience I got in terms of the academic and work activities of an accountant sowed the seed that convinced me that I wanted to become an accountant.’
Phewa’s career focus and commitment to his studies have resulted in him becoming an entrepreneur. The road to success has not been without its challenges, one of which, he says, was his transition from high school to university.
‘Academically, it took me some time to adjust to the fact that I was no longer in school where teachers and parents follow up to ensure school work and homework is done,’ he said. ‘However, university demands that you spend a lot of time studying as the lecturer is mainly a facilitator for your work. I believe this helped create the self-discipline that has helped me navigate through the challenges of life and self-employment,’ he said.
Phewa’s university experience included social and professional growth through friendships and networks he made and which are still beneficial today.
‘During my time at UKZN, I developed fruitful relationships with some of the most amazing intellectual people and grew the biggest and most treasured network of connections.’
While completing his undergraduate degree with very little practical experience in business finances, Phewa was approached by a local businessman who needed help with bookkeeping which became his introduction to the business world.
‘I was able to apply the knowledge acquired from my studies and monetise it,’ said Phewa. ‘I achieved this by partnering with a group of friends to set up a financial advisory business with a base of four retainer clients in two provinces in a short space of time. I have been able to secure a lot of business and referrals from the people I have met during my time at UKZN.’
Although doing well as an entrepreneur, Phewa soon realised he needed to further his university education and enrolled at UKZN for a Bachelor of Commerce Honours qualification majoring in Management Accounting.
‘As business partners, we later discovered that as much as we had accounting degrees, we were legally unable to do accounting officer duties, including representing clients at SARS, as we were not accredited by an accounting regulating body,’ he said. ‘ I then did my research which led to me pursuing articles in a mid-tier accounting practice immediately after acquiring my honours degree thus allowing me to obtain a Business Accountant in Practice designation whilst being mentored on the practical side of running an accounting practice.’
The ambitious entrepreneur has plans of expanding Ukuphila Kwezwe Accountants from a small-tier firm into a mid-tier firm. He also hopes to pursue a master’s degree with a dissertation focused on small- and medium-sized entities.
‘As ambitious as it sounds, I believe that with the right team, values and overall discipline, I will attain my goal in the next five to seven years,’ said Phewa. ‘My long-term plan is to share the experience and wisdom I have acquired over the years to add value to organisations as a board member for both for-profit and non-profit organisations.’
Words: Thandiwe Jumo