Palesa Matoli, the executive head of human capital and transformation at Bidvest Bank is living proof that young leaders can drive real, lasting change. Named the 2024 Young CHRO of the Year and recipient of the Transformation and Empowerment Award, she has a mission to create a culture of empowerment, inclusion and sustainable impact.
Far from being simply a feather in her cap, the awards are a powerful symbol of a leadership style that is bold, collaborative and deeply intentional. “I am deeply honoured and grateful to have received these awards. They are a testament to the power of pursuing one’s passion and staying committed to creating meaningful impact,” she says.
She highlights how the recognition also reflects the incredible teams and partners that she works with. “From leading Bidvest Bank to a level 1 B-BBEE rating in just one year to embedding transformation into the DNA of the organisation. Together, as a team, we’ve turned challenges into opportunities,” she says.
Looking back on the journey to becoming a level 1 B-BBEE company, Palesa says, “When I stepped into this role, I took a moment to reflect on the significant efforts made by my predecessors over the years. I wanted to understand the gaps that had prevented us from achieving our full potential and identify where I could make a meaningful impact. Solving problems is something I thrive on, so I quickly outlined what needed to be done to move us from a BBBEE level three to a level one.”
“Transformation is not a standalone project, it is about creating long-term economic sustainability for the communities we serve. This is deeply aligned with my belief in building opportunities that empower others to thrive, whether it’s through impactful programmes, partnerships, or nurturing leadership. Our strategy focuses on fostering meaningful relationships between the bank, our customers, and stakeholders. Achieving these objectives requires alignment and collaboration with all stakeholders, as many of the pillars depend on a collective effort,” she says.
Sustaining momentum
Palesa adds that sustainable change starts with accountability and long-term commitment, adding that as leadership, they had to make transformation part of how they do business – from values to operations.
“We equip our people through continuous training and education. That’s how you sustain momentum. We leant into our culture and unique value proposition, offering employees opportunities to gain depth and breadth of experience. We’ve broadened our recruitment channels and created opportunities for talent to step up,” she shares, adding that the bank’s graduate programme also plays a crucial role, focusing on women and hard-to-fill technical roles.
Securing diverse talent, particularly at senior levels, is a typical challenge many organisations face, however competing with Tier 1 banks adds another layer of complexity.
“We’re all competing for a small, highly sought-after talent pool – especially when it comes to senior female talent. In technical roles, the pool is even smaller and often male-dominated. We don’t always have the biggest chequebooks, but we have something just as valuable – our culture and growth opportunities. We offer depth and breadth of experience that helps our employees leapfrog their careers. Our workforce reflects the diverse society we serve.”
One of the most impactful initiatives launched under her guidance has been the Sorbet-Preneurship programme. The brainchild of the bank’s CEO and head of credit, both strong female leaders, the programme supports women in franchising, particularly former Sorbet employees.
“As a business bank, we knew that partnering with a franchise made sense. The success rate is higher, and it’s a way to empower women in business. It’s been an incredible journey watching them thrive.”
Home and abroad
Empowerment doesn’t stop there. In partnership with Solana, Bidvest Bank has also helped small electrical businesses transition into solar installation providers – contributing to the country’s renewable energy needs. “Programmes like these show our commitment to creating sustainable, long-term solutions. It’s about empowering individuals and building resilient communities.”
Palesa’s passion for transformation is personal. “I recognise the privilege I have, and I strongly believe it’s my responsibility to use it,” she says. “If I don’t step up and make a difference, then who will?”
As a mother of two, her motivation is grounded in legacy. “I want to know that I’ve helped create a safer, more inclusive corporate environment for my children,” she says. “They – and all the young people entering the workforce – deserve better.”
She also cites South Africa’s pressing unemployment crisis as a key driver. “Every day, I ask myself: How do we support small businesses to employ more people? How do we equip youth with the skills they need? That’s the purpose that guides me.”
Raised by a strict mother who valued discipline and learning, Palesa attributes much of her drive to her early upbringing. “My mom instilled in me the love of reading. By Grade 1, I was already fluent and that opened a world of possibilities for me.”
It was this intellectual curiosity that led her to psychology and eventually to the intersection of industrial psychology and HR.
“I’ve always wanted to make a meaningful impact. My nearly 20 years in HR – particularly in financial services – have helped shape the kind of leader I want to be. I knew this role would bring together everything I’m passionate about: problem-solving, creative thinking and making a real difference.”
With the impending sale of Bidvest Bank to Access Bank, a new chapter is on the horizon. “During this transition, our priority is to ensure our staff feel supported and secure. It’s also an opportunity to grow, to learn and to see what’s possible on a bigger stage. There’s still so much to achieve and I’m just getting started,” she says.
At the time of publication, Bidvest Bank was in the process of being acquired by Access Bank. The transaction is expected to be finalised in the second half of 2025, pending regulatory approval in both South Africa and Nigeria.
