Episode 2 - Zen Dlamini

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Zen Dlamini’s strong convictions and commitment to authenticity have made her one of her industry’s most respected leaders and mentors. But as a woman in the Standard Bank CIB space, how did she find her voice, and who were the people encouraging her to use it and be heard? Find out in Episode 2 of the Why She Leads Podcast.
29 Nov English South Africa Business · Investing

Audio transcript

00:11 Hello and welcome
00:11 to Standard Bank CIB Why She Leads podcast,
00:15 and I'm so pleased to be having a
00:17 series of conversations with some of the most
00:19 inspiring women dealmakers.
00:21 We're going to be finding out
00:23 what it takes to get into the investment banking space,
00:25 the obstacles these women have had to overcome, and
00:29 whether or not they find that elusive balance
00:31 between their personal and professional lives.
00:35 These women are changing the face of banking
00:37 and inspiring generations that come after them.
00:41 Joining me today is the Executive Head of Public Sector and Infrastructure.
00:45 A wife, a mom, a powerhouse,
00:48 Zen Dlamini, thank you so much for your time today.
00:51 Thank you.
00:52 What would you say to your 18-year old self now?
00:56 The 18 year Zen,
00:59 I'd say to Zen, you've got it.
01:03 You have all it takes
01:07 to take on anything and everything that you dream of.
01:12 The sky's the limit.
01:14 Just go out there, grab it.
01:16 Believe in yourself.
01:17 Never, ever doubt yourself and focus on everything
01:23 that you put your mind... set your mind on.
01:26 So if we're looking at where you are now and the position that you occupy,
01:31 can you just give me some insight into how you got there, especially
01:34 for someone who's watching, who thinks this is a difficult space to break into?
01:38 I wouldn't say obstacles.
01:40 I don't call obstacles, obstacles.
01:43 I call them tests.
01:45 You know, you have to think about things in a positive way.
01:52 So banking, banking is quite broad.
01:56 It's split into various segments.
01:58 You've got your retail banking, you've got business banking,
02:02 and then you've got CIB, which is the most desirable for everyone.
02:09 I know that a lot of people have tried to get into Corporate Investment Banking,
02:13 but it's just been an uphill battle.
02:16 However, back to my statement,
02:19 you know, if you want something so bad
02:23 and you put your mind on it and you focus, you will get it.
02:27 There are other various considerations
02:30 that you need to take into account.
02:34 You first need to understand the space you want to get into,
02:37 and you need to connect with the people that are in that space
02:42 to make sure that this is exactly what you are looking for.
02:45 So you can't just say, I want to be in Corporate and Investment Banking.
02:48 You need to understand what CIB stands for.
02:51 You need to understand the value proposition because CIB is big as well.
02:55 It’s got various segments within itself and you need to know
02:59 where you need to land because you could be in a product area,
03:03 you could be in risk, you could be in the support areas
03:06 or you could be frontline where I am and do the most,
03:11 you know, like you bring the bacon home, you changing things,
03:15 you’re changing the face, and you bring in everyone together.
03:18 So it's really about knowing what you want
03:22 and understanding what you're going for and connecting with the relevant people
03:28 and making sure that you find the right sponsors for yourself as well.
03:33 Who's done that for you?
03:35 That said to you, you're a diamond,
03:39 you can do this, let's go.
03:41 A lot of people have done that, Alan has done that
03:44 for me.
03:45 Bill Blackie, who's the CEO at BCB,
03:50 has done that for me.
03:52 Kenny has done that.
03:56 I'm thinking just outside of our space,
04:01 like various other women have done that
04:04 for me,
04:06 and my husband, and my husband tells me,
04:10 you know, and I actually think I don't believe in myself anymore.
04:14 He says, yoh! My gold, never.
04:17 You know, you are the best thing ever the world has ever seen, you know.
04:22 So when I go to bed, I could have, like,
04:25 a lousy, lousy day, you know, like when I get home,
04:28 I know that I actually do have this sounding board.
04:33 I have someone that will say to me, you,
04:37 you are the best.
04:38 When I wake up in the morning.
04:40 Hello. You are the best. Remember that.
04:42 You know, and I walk tall because of the support, you know, and I'm grateful,
04:49 and I always talk about gratitude for me,
04:52 I have gratitude, you know, and I always talk about waves of abundance,
04:57 you know, like I use affirmations, you know,
05:00 like one of my affirmations this year was like waves of abundance.
05:04 And in another month it was like a gratitude
05:08 because I remember to count my blessings.
05:11 So, yes, I've had a number of people actually remind me
05:15 that this is your worth, you know, like you're doing great.
05:19 You spoke about having people who know more than you,
05:23 having people who can guide you.
05:25 What's the importance of a mentor, especially if you're navigating the space
05:29 that seems quite overwhelming or challenging to get into and thrive?
05:35 Yeah, you've
05:35 got mentors and you've got sponsors,
05:39 so some find you, some you find.
05:44 To have a mentor
05:46 means that you've got a sounding board,
05:48 means that you have like a professor, for lack of a better word,
05:53 outside of varsity or teacher at school.
05:57 To have a mentor means that you have someone that will tell you
06:01 when things are not going so well and you believe that,
06:05 I've reached the end of the road,
06:06 and then they remind you that, remember, you have a personal positioning
06:11 and you have to stick to your personal positioning.
06:14 When changes come, they should not derail you.
06:17 You know, you need to take them, accept them with an open mind
06:23 and with an open heart and a clear mind,
06:26 trusting that every step that you take
06:30 is actually your true path,
06:32 and your purpose.
06:35 So they remind you of that.
06:37 So there'll be changes.
06:38 You go into a corporate space,
06:41 you are employed by this boss, and the boss leaves or they get promoted
06:46 and then a new boss comes in and they are not exactly what you signed up for,
06:51 but you didn't sign up for it because you signed up for the role,
06:55 you signed up for the franchise and you cannot be derailed
06:59 because this is something that you need to move on to the next level.
07:02 And when you sit with your mentor,
07:04 these are some of the things that they help you with to say,
07:08 stick it out.
07:09 You know, maybe you could help, you know, because the new boss is coming to your
07:13 space as well.
07:15 What are the things that you're going to do to help them, you know?
07:18 And give them that comfort and then so that they understand that we are a team
07:23 because they need to feel like they are part of their team as well.
07:26 The mentor will help you with that, you know,
07:28 because they've got the expertise, they've got the experience,
07:32 and then they understand you.
07:33 And when you're feeling down and out, you can pick up the phone like
07:37 at 12 o’clock at night, I’ll phone my mentor and say, “Hey, It's not happening, Baba!”
07:42 And he says, “Yes, it is happening.”
07:44 Reach within you Zen, inside.
07:48 and you've got the answers because they're not giving you all the answers,
07:52 they’re just guiding you. They're helping you,
07:53 and then when you off-ramp, they'll take you back to the freeway.
07:57 You've spoken about Alan Mukoki
08:00 and the role that he's played in guiding you in your career,
08:04 so I’d like to play you something from him.
08:06 Hi, there’s a lot to say about Zen
08:10 first and foremost, Zen you’ve a special character.
08:13 without any doubt, works very hard
08:17 gets things done,
08:19 aggressive, but in a nice, polite, respectful
08:23 kind way, full of humour all the time.
08:26 Takes care of people, laughs a lot in terms of
08:30 creating a very positive environment when it comes to working with people.
08:36 So I ran into Zen and I think that we worked together
08:40 various stages of our careers throughout the years,
08:44 and I think at some stage we were all together at Nedbank.
08:49 and I think that she was the relationship
08:51 person manager reporting to a regional guy
08:54 who used to report to a senior guy who used to report to me,
08:58 and I'm making that statement, because one Saturday evening
09:02 after 10 p.m., I'm receiving this call from Zen. Alan, Alan what's going on?
09:07 Zen why are you calling me so late at night, she didn't care about jumping
09:10 all these people that she used to report to.
09:12 She came straight to me to say, Hey, I understand that my application
09:15 went through and you're the one that we are waiting for, who’s signature we’re waiting for.
09:21 And I really, really need to get a decision.
09:23 I said, Zen do you see what time it is now?
09:25 It's after 10 p.m. on a Saturday.
09:27 What kind of client is this
09:28 Who’s calling you after 10 p.m.?
09:29 She says Alan you’re not going to understand.
09:31 I really, really, really need to get an answer.
09:34 And she was really doing it with a lot of respect and kindness
09:37 and obviously apologised for calling me on a Saturday evening.
09:41 Be that as it may, obviously, I checked my information
09:44 and I actually signed off on the transaction,
09:48 and I think that from then on I knew that Zen was always going to do well.
09:51 She was always going to push for customer service, but she would do it
09:55 with a level of diligence due to her skill and care
09:58 and do it in a way in which she didn't necessarily, you know,
10:03 create conflict or a bad environment in terms of the world of work.
10:07 You know, I think that she has huge doses of emotional
10:10 intelligence takes care of people and cares a lot about people,
10:13 while she's very pushy, but she's able to push in a way
10:17 that is a soft power type thing and take care of the business.
10:22 and I knew Zen was always going to do well.
10:24 And throughout that period when we were all together at Nedbank,
10:27 she was always showing up amongst all the top performers,
10:30 you know, the people who get the awards and the reward would be to go overseas.
10:33 and Zen was always there, and I knew that Zen was always going to do well.
10:37 So wishing Zen the best of luck.
10:39 and whatever she touches, I know that she will do exceptionally well.
10:43 Thank you.
10:45 Oh, Alan.
10:46 He knows me.
10:47 Ha, ha, ha!
10:49 You want that deal, you get the deal,
10:51 and I'm sure Sim can attest to that.
10:55 I'm sure the board
10:58 can attest to that, you know,
11:01 because it's for me, it's
11:04 it's always about
11:06 making that impact.
11:08 I look after public sector
11:09 and public sector is
11:12 the most exciting
11:15 and scary portfolio for obvious reasons.
11:18 I mean, you think about
11:22 the Zondo Commission, the Mpati Commission,
11:25 everything that has happened in the public sector space,
11:29 you think about SAA, we were the main bankers for SAA, by the way,
11:32 and when I took over the role of
11:37 Executive and I was assigned this portfolio,
11:40 how I moved into that space Nzinga, let me just say
11:43 I had said that I'm bored from product,
11:45 you know, I wanted something quite exciting
11:48 quite different, because I always referred to myself as an octopus.
11:52 I've got eight limbs,
11:55 and I want each limb to work,
11:58 and when three, four, five, are not working,
12:02 I feel very paralyzed and I cannot be paralyzed,
12:05 of course, this is Zen, I have to be out there.
12:08 And I said, I'm looking for something quite different,
12:10 and I think I'll do it in client coverage
12:14 because you can be an octopus.
12:17 And then when you reflect back and then you look at some of the things
12:19 that you've done, some of the things that looked very impossible
12:24 and you've delivered on,
12:26 you realise that it's not so much of an effort it’s the ability
12:31 to put people together and to change, to change the narrative.
12:36 When you speaking about changing the narrative,
12:39 when you walk into rooms now, boardrooms, people listen to you
12:44 because you occupy a powerful position, you have a powerful disposition.
12:49 It wasn't always like that, though, I imagine in your career,
12:53 how did you make sure in your early days
12:56 that your voice was heard even when people didn't want to hear it?
12:59 So I liked your first question,
13:01 when you asked me about what would I say to an 18 year old Zen?
13:06 It's really about
13:07 being authentic and having conviction,
13:10 but you have to understand what you're talking about,
13:13 you know, you have to appraise yourself of the environment that you are in,
13:18 if you're operating in specific industries,
13:20 you need to understand your industries.
13:22 And I'm going to digress a little bit,
13:24 you know,
13:25 you know, men have a tendency
13:28 of knowing what to say to exclude women,
13:32 and, you know, you could be sitting in a setting
13:36 could be an event, like an intimate event,
13:39 and then they think, hah, okay, let's have a man conversation,
13:43 then they start talking about soccer,
13:45 you start talking to them
13:46 about their story and what they thought yah, we will protect our space.
13:51 And then you walk in there and then you talk about it in such a way
13:54 that they’re thinking, is she a woman is she really a woman?
13:59 Yes, of course! and then I've got my blonde hair,
14:01 you don't need to ask those questions,
14:03 but you need to be able to switch across,
14:06 you know, you need to be able to hold conversations
14:09 like proper conversations, you know. So conversations are not just about
14:13 your hair,
14:15 or about the style, what you wear, conversations are real, Nzinga,
14:21 you know, like, what is the world going through?
14:24 you know, you need to understand what is the value that you
14:27 bring in.
14:28 So for me, I’ve been lucky enough
14:31 you know to spend time with boys and to understand
14:36 what is it that matters, you know,
14:38 to boys.
14:40 And then we look at the girls and I’m like, mmm! she’s not caring enough,
14:42 or, mmm!
14:44 I think she's smart, oh, she's tall, okay,
14:46 she's too short, you know, and they start thinking, okay, fine,
14:49 she's a part of us, you know, and they look at me like that.
14:54 But in business, you really need to understand your subjects.
14:59 You know, like the disciplines that you deal with,
15:01 so that when you walk in
15:03 and there is a debate about the discipline,
15:07 you dominate and you lead.
15:10 And you have conviction.
15:12 You know, like you have to have conviction because you've done your research,
15:16 you've covered everything, and then you can talk to that, you know, in detail.
15:21 So when you start doing that,
15:24 it's not
15:25 necessarily a tag, but they’ll know... you know, most of my male colleagues
15:31 would say,
15:32 she knows her s..t.
15:33 But what they actually mean is, she has that value to add.
15:37 You know, they will call me.
15:39 What are your thoughts on this?
15:40 You know, not necessarily just in government.
15:42 So you make a difference, you know, by bringing in the value and being authentic
15:49 and having conviction, so authentic, your conviction
15:53 and, you know, your discipline and you can go into any boardroom
15:57 because you're going to discuss what you understand very well.
16:00 You can talk about the value chain, you can talk about options, alternatives
16:04 and you are open to any other idea.
16:08 It's not just about what you bring on board,
16:10 but when someone brings in something that is different,
16:13 you actually leverage that and you bring it in.
16:16 That's how you actually open up the space.
16:19 And I've had to build that, you know, over time,
16:23 leveraging the likes of your your Alan,
16:26 leveraging various other ladies.
16:30 I've learned over time that actually it's about knowing what you're talking about
16:35 because it gives you that title of she's,
16:39 she's an expert.
16:46 There's a story,
16:47 Yeah.
16:47 About when you were starting your career,
16:50 you in a boardroom,
16:51 Ha, ha, ha!
16:53 you don’t have to say where
16:55 people aren’t listening to you.
16:56 Yes,
16:57 ha,ha,ha...
16:58 What do you do?
16:59 So I was...
17:03 I was thirty two,
17:04 I had just been given the Regional head role, which is quite big.
17:09 and I said in the provincial
17:14 and advisory board in one of the
17:18 big corporates I worked for, and in that board
17:22 I was, I was the youngest
17:25 and I was the only black female,
17:29 but there was another black female who was a professor at a varsity,
17:34 and so there was just two of us in a boardroom,
17:37 and I've got my board pack,
17:39 and then I go through my board pack and I would need to talk to my contribution,
17:43 but came into the boardroom, the board meeting and
17:49 they got into a section that I needed to contribute to, but
17:54 Chair was never going to see my hand.
17:56 Then I put my hand up, Chair was not seeing my hand
18:00 and I thought, I need to share this.
18:04 It's very important, and
18:07 towards the end I actually stood up and apologised for standing up and I said,
18:13 I'm not sure if I'm too short for Chair, not to see me
18:18 or maybe I should be on the table so the Chair could see me.
18:24 But I really, really have a burning issue that I need to put on the table.
18:29 It changed everything, you know, like, I remember
18:32 like I'd get into the board meeting Chair would ask,
18:35 “Zen, what are your thoughts on this?”
18:36 Ha, ha, ha! “What are your thoughts on this?”
18:39 So I gave myself a voice
18:42 because it felt like you are in the space, but you don't have a voice.
18:47 And now you're doing that
18:48 for women who are coming after you.
18:53 You are making sure that they have a voice, they are heard,
18:57 and they don't have to threaten the Chair,
18:59 Ha, ha, ha!
19:00 and stand on a table.
19:02 Yah, so sometimes when you look at people's personalities, they...
19:09 some women, some young women that I mentored,
19:11 have got strong personalities and I've picked on them,
19:15 you know, specifically because they have so much to offer.
19:18 So we can miss out because of a strong personality
19:22 that a lot of people would want to walk away from.
19:25 So I'm able to come in, I’m able to rein in
19:30 and just guide the process.
19:33 But also, my biggest thing is the impact,
19:37 you know, like I always say,
19:39 like Julius Nyerere, you know, when he was asked, how do you
19:44 see proper leadership?
19:46 like, how can you actually say that you’ve been a great leader, what is it?
19:49 What are the things that make you see that you've been a great leader?
19:52 And his response was
19:56 ‘The leadership that comes after you,
19:58 does better than what you've done, and the one that comes
20:02 after the leadership that you were responsible for,
20:05 they just excel’.
20:06 So for me, it's our time, but,
20:10 the people that we give, that we hand the baton over to
20:13 must do exceptionally better than what we've done, you know,
20:17 like Mama Charlotte Maxeke, Lillian Ngoyi, they've paved the way,
20:22 they've done all the great things, and for us
20:25 but you have to be contemporary, relevant, and move with the times
20:29 and acknowledge your male counterparts
20:31 because they can’t be confused about what is happening.
20:33 They must be part and parcel of this.
20:35 So that's exactly what I love doing.
20:38 Well, one of your mentees Nompilo Mtshali,
20:42 has a message for you, and I'd like to play that as well.
20:45 Zen you have
20:46 encouraged me to be an authentic leader.
20:50 One of my favourite characteristics about you is how authentic you are.
20:55 I can bump into you on a Monday morning for a coffee catch up,
21:00 or see you walking with the most senior person in the bank
21:05 or a graduate that just joined the bank yesterday.
21:09 You are authentic.
21:10 You are yourself through and through.
21:13 I remember when we first started our mentor, mentee relationship,
21:18 you always encouraged me to show up as Nompilo
21:21 the best version of myself.
21:24 You encourage all those around you
21:27 to show up as the best versions of themselves.
21:31 Furthermore, you are a leader that leads with kindness,
21:36 yet you possess so much strength.
21:39 I can pinpoint a number of instances
21:42 where you've coached me, coached me with so much kindness,
21:46 coached me with so much grace.
21:49 We need leaders in the workplace
21:52 that act with kindness that are human first.
21:56 So I want to thank you for inspiring me to be an authentic leader.
22:02 That is kind, but a leader that possesses so much strength.
22:07 Oh, wow!
22:08 Beautiful. It's lovely hey.
22:11 One of the most amazing,
22:17 humble
22:18 and kind individuals
22:22 that I've come across
22:25 the utmost respect.
22:27 You know, she has a Ph.D.
22:28 You know, she has a Ph.D.
22:30 She used to be a lecturer at Wits Business School
22:34 and she moved from that space to join banking.
22:37 And she just became like,
22:41 someone like that is quite junior,
22:43 she thought that
22:45 maybe I need to start
22:47 if she could maybe be a teller, for that matter, that’s
22:50 how she is thinking
22:52 because she is humble like that, you know, like we had our engagement,
22:57 we had our sessions I picked up that, oh, wow, this is a diamond.
23:02 Like proper diamond.
23:05 It's not even a rough diamond for that matter.
23:07 You know, it's just a diamond that's lying there,
23:09 just need to polish it.
23:11 I always say
23:12 a girl has to have various tribes, you know, like as
23:16 as a girl
23:16 as a woman, you need to have at least a minimum of three tribes.
23:21 The first tribe is the people that you grew up with.
23:26 It could be the people you went to school with.
23:29 And the second tribe, it's
23:31 it's the people you work with,
23:33 you know, like the ladies that you can connect with.
23:36 Tribe means that you've got people that you can connect with quite well.
23:40 So from school you've got a lot of people, but you can only connect
23:44 with specific people that understand you, that support you.
23:48 And a tribe means these are the people that support you.
23:51 These are the people that will tell you that,
23:54 Oh, it's not going so right for you.
23:56 And the same applies when you get to a work or a corporate space.
24:01 You need to have that tribe as well.
24:03 And then the third, this is the minimum, by the way.
24:06 And then the third is the leadership.
24:08 You know, the woman leaders, you know, the people that you can look up to,
24:12 the people that you can leverage,
24:14 the people that will tell you the honest truth
24:17 without actually blinking, you know, because you are learning from them.
24:22 So I believe that, I've been...
24:25 I've sustained myself through having tribes.
24:28 I have five tribes.
24:29 Okay, what are the other two?
24:31 There are two fun tribes,
24:34 and obviously, the fun tribes,
24:38 it means that you actually have to let go of everything and,
24:42 be you and enjoy yourself.
24:44 And the other tribe is
24:47 the one that guides you like in terms of academics,
24:50 like you sit, you talk about the world, you talk about the geopolitics,
24:55 you talk about where countries are going,
24:58 you talk about the future, you talk about
25:00 everything that makes sense.
25:02 That is a serious tribe,
25:04 and for me, you have that serious tribe,
25:06 and that's why I part the two.
25:08 You've got that serious tribe, then you've got that fun tribe.
25:10 When I sit with my serious tribe,
25:12 I have to make sure that I connect with my fun tribe,
25:15 just to stabilise things, because it is serious.
25:18 You know what we're going through, globally,
25:20 there's a lot that's going on.
25:21 But you need to remember so that you can play.
25:25 You’ve spoken about the support that your husband
25:29 has given you, not just in your career now,
25:33 from when you were a young mom
25:36 trying to figure out what was happening.
25:39 Just take me through that.
25:40 And then when you're doing these high pressure, massive deals,
25:44 the importance of that support.
25:46 Yeah, a family, very strong on family, he believes that
25:51 everyone should have a family
25:53 and his whole is family,
25:56 his kids, myself.
25:58 And yes, we have the extras, but me
26:01 and the kids are his world,
26:04 and supported me as I was studying
26:08 because I was doing it as a mother and as a wife.
26:12 I would come back,
26:13 I remember studying analytical techniques, you know, like you call it statistics,
26:17 and it was like shaking me.
26:20 So I'd sit with him and this is...
26:23 Okay, fine, explain to me where your challenged,
26:25 and I'll take him through like a specific area, like maybe
26:29 distribution or calculus, and then he'll sit me down and actually
26:34 take me through, like, specific pointers to look out for.
26:38 And when I was writing exams, he'd come and,
26:40 like the biggest cheerleader for me, biggest, biggest cheerleader.
26:44 So he's been there,
26:45 when I'm working on a deal, I get home, I'll be like, tense,
26:50 you know, I'm sitting there, he says, “Don’t talk to Nene”,
26:52 they call me Nene,
26:53 “Don’t talk to Nene”,
26:55 “It's hectic like let's give her some space”.
26:58 He will give me space.
26:59 And like, when I'm losing it, I'll ask him.
27:01 “So what do you think?
27:03 Should I argue this?”
27:05 “Argue you what you need to argue,
27:06 If there's no need to argue, trust the process it will happen”, so,
27:10 he has actually given me support like in that space,
27:14 even with family, you know, like my siblings.
27:16 He said, “No, you're a baby,
27:19 Yeah, you're the baby”,
27:20 allow the sister to be the sister,
27:22 so I'll be the baby.
27:23 And yeah, amazing, amazing.
27:26 Zen Dlamini,
27:26 thank you so much for your time on Why She Leads.
27:29 It's been such an incredible privilege learning from the lessons
27:34 that you have learned as you progressed in your journey
27:36 as you've climbed the corporate ladder.
27:38 Thank you so much for being so generous with your time
27:40 and the lessons that you’ve learned. Really, really appreciate it.
27:43 Thank you Nzinga, and thank you, gorgeous African woman.
27:47 It's been an absolute pleasure talking to you.
27:49 And yeah, just reflecting on all these things.
27:52 Sometimes you forget the little things that make a difference.
27:56 So, yeah, thanks for reminding me.
27:58 I feel like I got a crash course in mentoring,
28:01 from the incredible journey that you've had and the lessons,
28:03 I’m so, so grateful. Really.
28:05 Thanks Nzinga, I think you're amazing.
28:08 I think you’re great,
28:09 Thank you.
28:09 Keep shining.
28:10 Thank you,

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