{"id":830498,"date":"2025-07-07T16:30:00","date_gmt":"2025-07-07T14:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=830498"},"modified":"2025-07-07T17:01:54","modified_gmt":"2025-07-07T15:01:54","slug":"the-south-african-ceo-who-went-from-earning-r1500-to-r5-million-per-month","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/830498\/the-south-african-ceo-who-went-from-earning-r1500-to-r5-million-per-month\/","title":{"rendered":"The South African CEO who went from earning R1,500 to R5 million per month"},"content":{"rendered":"\n

July Ndlovu went from a rural village in Zimbabwe to becoming the CEO of Thungela Resources, one of South Africa\u2019s most successful coal mining companies. <\/p>\n\n\n\n

He began his career as a graduate trainee engineer, earning R1,500 per month, but ultimately became a corporate elite, earning R59.79 million in 2024, or R4.98 million per month.<\/p>\n\n\n\n

After a remarkable three-decade career in mining, Ndlovu is preparing to step down as CEO, and he looks back with pride on a journey defined by leadership, purpose, and transformation. <\/p>\n\n\n\n

Ndlovu was born on 25 July 1965 in a small rural village in the middle of Zimbabwe to two subsistence farmers.<\/p>\n\n\n\n

He went to Gokomere High School, a Roman Catholic mission boarding school situated 17 km outside the city of Masvingo, Zimbabwe.<\/p>\n\n\n\n

He then went on to complete a degree in metallurgical engineering at the University of Zimbabwe. However, engineering wasn\u2019t his first choice. <\/p>\n\n\n\n

\u201cI told my friends that I was a failed medical doctor, having started trying to study medicine at varsity. But actually, it turned out not to be for me. I just didn\u2019t enjoy it,” he said<\/a><\/strong>.\u00a0<\/p>\n\n\n\n

More importantly, he noted that at that time, he met an Anglo executive who talked about what mining can do for communities and people. <\/p>\n\n\n\n

\u201cIt just sounded like, oh my God, these guys do stuff that matters. That pivotal conversation changed everything. I switched over to mining, and 35 years later, here I am.\u201d<\/p>\n\n\n\n

Ndlovu began his mining career in 1993, earning R1,500 a month as a graduate trainee engineer. <\/p>\n\n\n\n

Over the decades, he would rise through the ranks quickly. By 2001, he joined Anglo American Platinum (Amplats) as business manager at the Polokwane Smelter. <\/p>\n\n\n\n

He was promoted in 2004 to refinery manager of Amplats\u2019 Rustenburg Base Metals Refineries, followed by a role as head of process technology in 2005. <\/p>\n\n\n\n

In 2007, he became the company\u2019s executive head of process technology and was appointed as a director of companies.<\/p>\n\n\n\n

Nldovu spent most of his career in leadership roles, an experience he believes shaped his outlook on business and people. <\/p>\n\n\n\n

\u201cI got into leadership very early on. I\u2019ve probably been a leader of people for close to 30 years of my career,\u201d he said. <\/p>\n\n\n\n

\u201cYou start off calculating stuff, but at some point, you transition to leading people, and then your life changes.\u201d<\/p>\n\n\n\n

In 2016, he was appointed CEO of Anglo American\u2019s coal businesses in South Africa. Then, in 2021, he led the newly formed Thungela Resources following its demerger from Anglo American. <\/p>\n\n\n\n

Building a powerhouse <\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Under his leadership, the company not only survived but flourished, despite challenges such as the COVID-19 pandemic and ongoing logistical issues at Transnet.<\/p>\n\n\n\n

Reflecting on this period, Ndlovu said the most important leadership lesson he learned was that \u201cleadership is about dealing with uncertainty.\u201d<\/p>\n\n\n\n

\u201cYou\u2019re never going to have perfect information. You just hope you make more right decisions than wrong ones.\u201d He also challenged the idea that leadership is lonely. <\/p>\n\n\n\n

\u201cIf you accept that you\u2019re a shepherd, that your job is to create an environment where people can be their best, then people choose to carry you on their shoulders. That\u2019s been my experience at Thungela.\u201d<\/p>\n\n\n\n

Thungela\u2019s success under Ndlovu\u2019s guidance is undeniable. The company reported a 16% year-on-year increase in revenue to R35.6 billion in 2024, despite weaker commodity prices. <\/p>\n\n\n\n

The inclusion of the Australian-based Ensham coal business for a full year (compared to just four months in 2023) contributed significantly to the results, adding R676 million to the R3.5 billion net profit. <\/p>\n\n\n\n

Ndlovu is proud of what the company has achieved. \u201cWe started with a market cap of R3 billion on day one. We\u2019ve returned R22 billion to shareholders in four years,\u201d he said. <\/p>\n\n\n\n

\u201cIf Transnet had performed, we would have created even more value. But let\u2019s not focus on what we didn\u2019t do. Let\u2019s celebrate the transformational value we created.\u201d<\/p>\n\n\n\n

Plans to make up for lost time<\/h2>\n\n\n
\n
\"\"<\/a>
CEO of Thungela Resources July Ndlovu<\/em><\/figcaption><\/figure><\/div>\n\n\n

With an income that soared to R59.79 million in 2024\u2014averaging nearly R5 million per month\u2014Ndlovu\u2019s career is one of South Africa\u2019s most impressive mining success stories. <\/p>\n\n\n\n

But now, he is ready for the next chapter as he steps aside from his role at Thungela.<\/p>\n\n\n\n

\u201cFor the first time in 35 years, I can be spontaneous. I can travel, read the books I never had time for, and spend time with my dear wife,\u201d he said. <\/p>\n\n\n\n

\u201cWe met when we were 17, now I\u2019m coming back to her so we can do the things we\u2019ve always wanted to do together.\u201d<\/p>\n\n\n\n

Though he will remain active on a few select boards, he said his priority has shifted. \u201cI don\u2019t want to be too busy. I\u2019ll choose very carefully. I want to be where I can make a difference,\u201d he said. <\/p>\n\n\n\n

\u201cMost importantly, I\u2019m looking forward to making up for lost time and being present for my family. That\u2019s my first priority now.\u201d<\/p>\n\n\n\n

Ndlovu said that becoming the CEO of a major coal mining company was his highest personal achievement. <\/p>\n\n\n\n

\u201cI was born to peasant farming parents in a remote rural village in the middle of Zimbabwe, and this could have limited my dreams to being a head boy, having a wife chosen for me, and, like most of the boys of my time, a career working the red soils our people so cherished,\u201d he said. <\/p>\n","protected":false},"excerpt":{"rendered":"

July Ndlovu went from a rural village in Zimbabwe to becoming the CEO of Thungela Resources, one of South Africa\u2019s most successful coal mining companies.\u00a0<\/p>\n","protected":false},"author":92,"featured_media":830515,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[853,17489],"class_list":["post-830498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-south-africa","tag-thungela-resources"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/830498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=830498"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/830498\/revisions"}],"predecessor-version":[{"id":830729,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/830498\/revisions\/830729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/830515"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=830498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=830498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=830498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}