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The woman who went from earning scholarships to becoming CEO of a major financial group in South Africa | SA News

Caitlyn Hilliard-Lomas
 ·21 Mar 2026

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Mary Vilakazi, who financed her education through scholarships and a bursary, rose from a township to lead one of Africa’s largest financial institutions by market cap—FirstRand Group.

Vilakazi first joined the group in 2018, where she served as Chief Operating Officer (COO) until her appointment as CEO in 2024.

Before FirstRand, she was the deputy CEO of MMI Holdings, an insurance-based financial services firm, where she worked for nearly four years.

At 27,…

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