Lincoln Mali, a former Standard Bank executive and the Southern African CEO of Lesaka Technologies, has been recognized by Eskom board chair Mteto Nyati as an unsung hero behind the state-owned power utility’s turnaround, following a journey that included teenage expulsion and imprisonment under apartheid.
Mali Emerges as an Unsung Hero for Eskom
At a recent Venture Capital Partners anniversary event, Eskom board chair Mteto Nyati discussed the engaged board model and credited Mali for his impact on the utility’s recovery. Nyati highlighted Mali’s role in boosting morale among generation teams during difficult periods, calling him a spiritual leader who reminded workers of their greatness.
Nyati characterized Lincoln Mali as a foundational spiritual leader and one of the vital unsung figures who reinvigorated the generation team by recalling their capacity for greatness.
Mali connected with Eskom generation leaders, including Bheki Nxumalo, through discussions about leading through turbulence, anxiety, and the standards they set for themselves.
Eskom board chair Mteto Nyati said Lincoln Mali was the unsung hero behind the utility's turnaround.https://t.co/Z68Ug1896X
From Prison to Banking Boardrooms
Born in February 1968 in the KwaZakhele township in Port Elizabeth, Eastern Cape, Mali attended Mzontsundu Secondary School where he played rugby.
Dating back to the 1950s, his father, Mzwandile Mali, played rugby for Cowan High School prior to joining the Orientals Rugby Football Club, which stands as one of South Africa’s oldest rugby clubs.
Mali’s education was disrupted in 1985 when he was expelled from school due to his anti-apartheid activism, a period that also saw him in and out of jail.
He eventually returned to formal education, completing his matric at Newell Public High School in Port Elizabeth.
He then attended Rhodes University from 1988 to 1990, completing a Bachelor of Arts in Law and Politics, followed by a Bachelor of Laws degree obtained in 1992.
During his university years, Mali served as President of the Black Student Movement and National Vice President of the South African Students Congress.
Building a Career Across Major Firms
While working at the Banking Council, Mali studied at the University of the Witwatersrand Business School, completing an advanced management programme, and earned a diploma in advanced banking from the Rand Afrikaans University in 2001.
That same year in September, he joined Standard Bank of South Africa as a senior manager for corporate banking.
Mali left Standard Bank. He then served as CEO of Net1 Southern Africa for one year and seven months.
He subsequently became President of the Association of South African Payment Providers (ASAPP).
Mali took on the role of Southern African CEO of Lesaka Technologies, which changed its name from Net1 UEPS Technologies in May 2022.
