The Market Theatre Foundation appoints Mlungisi Mkhayiphe as the new Chief Financial Officer
Mlungisi Mkhayiphe joins the dynamic senior management team at the Market Theatre Foundation under the leadership of Tshiamo Mokgadi, Chief Executive Officer with multi award winning director James Ngcobo as Artistic Director.
Mlungisi is an experienced finance executive with extensive experience in financial management. He is skilled in Corporate Strategy and Planning, Strategic Financial Management, Financial Accounting & Reporting, Financial Analysis. He holds a Bachelor of Accounting (B.ACC) focused in Accounting and Finance from University of KwaZulu-Natal and a Post Graduate diploma in Management Accounting (UNISA). His has extensive academic and working exposure to legislation/accounting standards such as: Public finance management Act (PFMA), Treasury Regulations, Municipal finance management act (MFMA) etc.
He takes over the reins from Christine McDonald who took early retirement from March 2022. McDonald was appointed in 2003 and joined the foundation as a consultant brought in by the Department of Arts and Culture to implement a turnaround strategy and provide change from the foundation’s disarray financial state to a financially stable institution. In addition to her financial portfolio, she has successfully managed building projects for the foundation worth more than R150 million. Since her arrival the Market Theatre Foundation has enjoyed clean financial audits.
“My journey at the MTF of 18,5 years started in October 2003 with a 6-month contract – and here I still am! Les Phillips and Seelan Naidoo (a consultant) interviewed me, and they motivated to John Kani (the CEO at the time) to appoint me.” Thanks a lot for the guidance. I learnt so much from people like Malcom Purkey, Regina Sebright, Vanessa Cooke, and many others during the 18 years. I am very glad to say I leave behind a very capable Finance Department” said Christine.
The truth is Managers, not processes run an organisation, as the trio challenge themselves to finding new ways of sustaining and managing this iconic institution to inspire future generations.
The newly appointed CFO Mlungisi Mkhayiphe had this to say “It is an honour to join the MTF. I view this as an opportunity to learn and also contribute to the realization of the organisation’s vision. This position comes with a huge responsibility of ensuring compliance, safeguarding, effective and efficient management of the MTF resources. My assessment of the MTF’s annual reports shows that it is a financially stable organisation, I will dedicate my energy to stabilize and ensure that the theatre continues on a solid growth path.
The Market Theatre Foundation will continue being a leading institution that provides opportunities to South Africa’s emerging voices, nurturing practitioners and development of young creatives.