Fawzia Suliman reflects on her journey across CFO, COO and CEO roles, the lessons that have shaped her leadership approach and how endurance sport, travel and time with family help her maintain perspective.
In an interview with CFO South Africa, JSE CFO Fawzia Suliman discusses the different perspectives she gained from serving as a CFO, COO and CEO, what the role at the JSE has taught her about leadership, and the challenges of balancing growth with long-term sustainability.
For those who know you as the JSE CFO, what is something about Fawzia Suliman that they probably wouldn’t know?
People are often surprised to learn that I'm passionate about endurance sports. I've completed marathons in London and Berlin, Ironman events and the Comrades marathon. What gives these events meaning for me is the opportunity to support causes I care about. Over the years, I've linked many of these events to fundraising initiatives that improve access to education and support the wellbeing of underprivileged youth. This sense of purpose keeps me grounded and provides perspective far beyond my day job as CFO of the JSE.
What does a typical day look like for you when you’re not wearing the CFO hat?
When I'm away from work, I try to create space for the things that restore my energy and keep me grounded. That often means getting outdoors for a run or cycle and spending quality time with family and friends. I'm naturally drawn to challenges and new experiences, whether that's taking on an endurance event, exploring a new destination or planning my next adventure. I enjoy having goals that stretch me, but I equally value the quieter moments which I spend doing pencil sketches, building architectural Lego sets and browsing interior shops. This allows me to reset, reflect and appreciate what matters most.
You’ve spoken before about starting your mornings early. What does your ideal morning routine look like, and why is that time important to you?
I treasure the quiet of the early mornings and while some mornings start with a run, you could also find me walking in my garden, coffee in hand, enjoying the stillness and preparing for the day ahead. We created a beautiful outdoor space at home, and it's become one of my favourite places to reflect, solve problems, dream a little and simply unwind.
I've always been drawn to adventure and new challenges, but those early hours give me the space to think clearly, appreciate what's around me and start the day with energy, perspective and a sense of possibility.
You’re an avid traveler. Where have you travelled recently and what is the one place still at the top of your bucket list?
I have been fortunate enough to combine travel with endurance sport, including marathons in London and Berlin. My most recent trip was to New York where I spent early mornings in Central Park. What I enjoy most about travel is the chance to step outside the familiar, experience a different rhythm and return with a broader perspective. The Tour du Mont Blanc (TMB), one of the world's most famous long-distance trekking routes is currently at the top of my bucket list. It is a multi-day hike that circles the Mont Blanc massif through France, Italy, and Switzerland.
What do you enjoy doing outside of work that helps you switch off from the demands of being a CFO?
Early morning coffees with my husband and our friends at our favourite coffee shop and running are my reset. On a long run, the focus becomes very simple: keep moving, manage the next kilometre and let the noise fall away. The coffees with friends is about catching up, good laughs and reminding each other not to take ourselves too seriously.
You’ve held CFO, COO and CEO roles during your career. How has each of those roles shaped the way you lead today?
Each role revealed a different aspect of stewardship. As a CFO, you're stewarding capital and financial resources; as a COO, you're stewarding execution; and as a CEO, you're stewarding the organisation's overall direction and long-term success.
What I learnt is that great leaders don't operate in silos. Strategic thinking is just as important in a CFO role as it is in a COO or CEO role, while commercial and financial acumen remain essential regardless of title. Each role brings a different lens, but all require an enterprise-wide perspective, sound judgement and the ability to bring people together around a common goal.
What has becoming CFO of the JSE taught you about yourself as a leader?
The role has reinforced my belief that growth comes from embracing new challenges. Joining the JSE gave me the opportunity to apply my diverse experience in a new environment and to contribute more directly to an institution that plays a critical role in South Africa's capital markets.
It has also reminded me that the CFO's role extends well beyond finance. It's about helping shape strategy, allocating resources effectively and bringing together people and ideas to support the organisation's long-term success.
What is the hardest part of being a CFO that people outside the finance function don’t always see?
The hardest part is balancing the drive for growth with the responsibility of long-term sustainability. As a CFO, you're a steward of the organisation's resources, which means making decisions that support today's ambitions without compromising tomorrow. What people don't always see is the judgement, scenario planning and strategic thinking behind those decisions. Increasingly, I've found that with strong forecasting and disciplined planning, growth and prudence don't have to be opposing forces.
What is your leadership philosophy and how has it changed as you’ve become more senior?
Leadership is about creating clarity, building trust and helping people achieve more than they thought possible. As I've become more senior, I've learned that my job isn't to have all the answers. It's to provide direction, create the conditions for success and draw on the collective strengths and experiences of the people around me. The best outcomes rarely come from one individual; they come from talented people working together towards a common goal.
What is one lesson you had to learn the hard way during your career?
I had to learn that leadership does not require martyrdom. Trying to carry everything yourself may look like commitment, but it is not sustainable and it does not help others grow. Building a strong support structure, leaning on it and knowing when to say no are part of responsible leadership, not signs of weakness.
