Finance veteran Shadi Makhuvele has been appointed as the new group chief financial officer of Afrirent Holdings, bringing nearly 25 years of experience to the company as it expands beyond fleet management.
CFO Shadi Makhuvele has been running the finance department at Afrirent Holdings for nearly a month now and says she is settling into her new role nicely.
When asked about her approach to leading a new team, Shadi says she makes a point of listening and intentionally observing before acting. But that doesn’t mean she doesn’t have a gameplan.
“In the first few months, my focus is to ensure we have a credible base, solidify the control environment and ensure there are no immediate risks. Look at the quick wins, particularly in process and technology optimisation. I naturally look for an opportunity to unlock efficiency but I understand the cost of being inefficient. Equally important is to ensure I build trust and credibility with my stakeholders.”
With nearly 25 years of experience in finance and operations, including strategy, governance and cost transformation, Shadi is no stranger to multi-billion-rand optimisation projects and creating teams that outlast their leadership.
“I strive to provide context for our teams, creating clarity of purpose, so that my team understands the value they bring to the table to ensure a sustainable organisation lasting beyond our time. In every role I have held, I always told my teams that I build teams with a succession chain that never breaks. There must always be someone ready to step up.”
The appointment strengthens the company’s executive team as it expands its operations beyond fleet management.
She steps into the position at a time when transport and logistics firms are facing pressure from rising fuel costs and tighter credit conditions.
“The typical challenges I anticipate are balancing short-term pressures with long-term strategy, the conflicting resource requirements. A journey of transformation comes with challenges, be it change management or alignment on competing priorities between finance and operations. But my intention is to ensure that in whatever we do, we execute effectively for the benefits of the entire organisation.”
Prior to her appointment at Afrirent Holdings, Shadi served as the divisional finance manager for three clusters at the CSIR, overseeing NextGeneration Health, advanced agriculture and food, and chemicals.
She also has 17 years of experience in financial accounting, financial modelling, management accounting and corporate strategy, having worked across the research, telecommunications, engineering, energy and waste management industries.
