BACKSTORY: Vanesha Palani of Nedbank

What was your first job?

I joined Nedbank as a graduate in its technology division. I was straight out of university and had the dream of finding a job where I could apply my knowledge and make an impact. I was grateful to get the opportunity, which provided support in exposing me to different areas of the bank, giving me the opportunity to identify the career path I wanted to explore further.

How much was your first pay cheque, and how did you spend it?

My first official pay cheque was R5,000. Considering that as a student I had a monthly allowance of R400, this salary was amazing. My entire first month’s salary was spent on a very lavish purchase which some may say was irresponsible, but for me it was one of the most important purchases in my life. I bought my mom the most amazing pair of diamond earrings I could afford. My mom worked three jobs to educate me, and I wanted to spoil her with something that would be the token of my appreciation for all her sacrifices. I saw it as a promise that she would never have to make any more sacrifices; she had invested in my education and I would look after her from now on.

What is the one thing you wish somebody had told you when you were starting out?

Maintain balance. Ambition is great, but you are great as well. Take care of yourself and your relationships and enjoy life’s moments as you will never get them back.

If you could fix only one thing in South Africa, what would it be?

I would focus on education, food security and inclusive economic growth to make sure more people have a chance to lift themselves and their families out of poverty.

What’s the most interesting thing about you that people don’t know?

I can’t ride a bicycle. This surprises people because I love adrenaline-pumping activities, and do sports such as scuba diving. There is just some mental block with me and bikes.

What’s the worst investment mistake you’ve made?

I really wanted to own my home rather than renting. I bought my first apartment six months after graduating. Being in an entry-level job, affordability was tight, so I ended up taking a 30-year mortgage rather than a 20-year one. I did manage to pay it off faster, but it wasn’t a smart decision to have such an extended mortgage period.

What’s the best investment you’ve ever made? And how much of it was due to luck?

Determining the best investment is tough. Are short-term or long-term returns better? Personally, I prefer steady and continuous growth in my investment portfolio, but every now and then I do explore alternative investment vehicles when I have some spare cash. My investment choices are determined by some combination of analysis, expert advice, gut feel, curiosity and adrenaline. There is no guaranteed formula for high returns, and sometimes it can be luck — but I would say a very calculated luck.

Cryptocurrency was an exploration out of curiosity that has paid off as of now — but the jury is still out on that one!

What’s the best book you’ve read recently and why did you like it?

I’ve just finished a programme at Insead in France, which has been a journey of immense learning and growth. A big part of the programme was my leadership journey and this led me to read Daniel Coyle’s The Culture Code, which delves into the dynamics that enable groups to succeed. He identifies three key areas: psychological safety, vulnerability and purpose. The insights and practical guidance he gives will support me in being a more effective leader, improving my team’s cohesion and performance, enabling us to deliver on our purpose.

What is the hardest life lesson you’ve learnt?

Resilience and impermanence. You have to learn to adapt and recover from setbacks and accept that nothing is permanent. Good or bad, it will pass, but it’s important to learn the lessons and keep moving forward.

What phrase or bit of jargon irks you most?

“Pivot”. Through Covid and subsequently, this has probably become the most abused word that I have heard in a long time. While I acknowledge we all had to “pivot” in that period, the overuse of the word just gets to me.

If you were President Cyril Ramaphosa, what would you change, or do, tomorrow?

Make education and health the No 1 priority and focus. Both are the foundation of all great societies, South Africa included. I would focus on making public-private partnerships work to accelerate inclusive growth.