The position of chief financial officer (CFO) is new to the University of Cape Town (UCT) and was previously titled the executive director for finance. The landscape of higher education has changed over the years, and now the Office of the Vice-Chancellor (VC) provides information on the financial position of the institution whilst negotiating government subsidies and balancing the complexities of the National Student Financial Aid Scheme as well as enrolments. The perpetual decline of government subsidies, together with the nuances of grant funding coupled with interventions on third stream income have necessitated closer scrutiny from the UCT Finance Committee and Council. On account of the VC having to serve and update the Council as well as national committees, it makes business sense for the role to report to the VC.

Read the VC Desk announcement.

Vincent Mohau Motholo was appointed as the executive director of finance from 1 October 2021. In an email to the UCT community on 29 April 2022, VC Phakeng announced a change of designation to chief financial officer and the role now reports to the VC directly.

Motholo is a qualified chartered accountant and registered auditor and joins the university from the largest South African black-owned accounting and advisory firm, SizweNtsalubaGobodo Grant Thornton (SNG Grant Thornton), where he was partner and director in the assurance division.

Not new to the South African higher education environment, Motholo also has extensive experience as an audit partner in this field with clients including the University of Johannesburg, University of Limpopo and Central University of Technology. He has also worked with the University of the Witwatersrand.

He is currently the chairperson of the South African Institute of Chartered Accountants (SAICA) and has served on its Audit and Risk Committee as an independent non-board member. He has also served on various other committees, including the Banking Sector Training Authority’s Independent Finance and Remuneration Committee, the South African State Theatre’s Audit and Risk Committee and the Independent Police and Investigative Directorate’s Risk Committee where he was chairperson.

He has co-authored a textbook and two question books: Auditing Fundamentals in South African Context (1st and 2nd Edition), Applied Questions on Auditing (7th Edition) and Auditing Fundamentals in South African Context: Graded Questions.