Vuyo Mafata appointed Compensation Fund Commissioner
Vuyo Mafata, the former Chief Financial Officer of the Unemployment Insurance Fund (UIF), has been appointed Commissioner of the Compensation Fund (CF), a public entity of the Department of Labour.
Mafata was appointed acting CF Commissioner last June, when he replaced Shadrack Mkhonto. Mafata was previously the Chief Financial Officer of the Unemployment Insurance Fund (UIF), another entity of the Department of Labour.
His current focus on improving the business case of CF that is focused on addressing: Service delivery challenges - paying claims on time
- Financial management challenges
- Administrative challenges - to address operational efficiencies; and
- Human resources - to deal with capacity and skills shortage.
The Compensation Fund manages the Compensation for Occupational Injuries and Diseases Act Compensation for Occupational Injuries and Diseases Act (Coida) – which provides for compensation for disablement caused by occupational injuries or diseases sustained or contracted by employees in the course of their employment, or for death resulting from such injuries or diseases; and to provide for matters connected therewith.
The Fund is currently sitting on more than R52-billion in reserves, and has an operating revenue of just above R7-billion.
Vuyo Mafata’s condensed CV
Education
- Master of Management: Finance and Investment Management
- Wits Business School, University of the Witwatersrand, 2015
- Dissertation: Comparing Discounted Cash flow and Accounting Based Valuation models on Johannesburg Securities Exchange listed firms
- Master of Business Administration
- University of the Free State, 2010
Dissertation: Perceptions of employees on factors which influence the relationship between employee and customer satisfaction at the Unemployment Insurance Fund (UIF): a case study
Bachelor of Commerce
University of the Free State, 2001
Work Experience
- Compensation Fund (CF), Pretoria
- Compensation Commissioner (Acting) 01 June 2015 – Current
- Unemployment Insurance Fund (UIF), Pretoria
- Chief Financial Officer 01 December 2012 – 31 May 2015
The UIF collects R15 billion in contributions, pays R7 billion in benefits and invests the surplus Funds. Investments of the UIF are in excess of R100 billion and continue to grow. In his capacity as the CFO, he is responsible for:
- Providing strategic financial management direction for the UIF in the areas of revenue collection, investment management, expenditure and budgets as well as procurement and asset management
- Develop and implement a system of internal controls to safeguard funds of the UIF
- Meet reporting requirements in terms of financial management legislation such as PFMA, Treasury Regulations and applicable accounting standards
- Financial Risk Management
- Managing the 160 finance staff of the UIF
- Unemployment Insurance Fund (UIF), Pretoria
- Acting Chief Director: Corporate Services 01 December 2010 – 30 November 2012
- Unemployment Insurance Fund (UIF), Pretoria
- Executive Manager/Director: Financial Management (Revenue) 01 November 2009 – 30 November 2012
- Unemployment Insurance Fund (UIF), Pretoria
- Manager/Deputy Director: Financial Management 1 July 2005– 31 October 2009
Enquiries:
Mokgadi Pela
Cell: 082 808 2168
