Becoming a Chartered Accountant (CA) is no easy feat. It’s a path paved with academic rigour, professional demands, and relentless self-discipline. For Moloko Zondo, a Financial Analyst in the sell-side Mergers & Acquisitions industry, the CA journey was anything but linear—but it was hers to walk, fight for, and ultimately conquer. This is her story.
From Mokopane to M&A: Humble Beginnings and Early Academic Spark
Moloko grew up in the small town of Mokopane in Limpopo, raised by two dedicated teacher parents. “I went to good schools—not private, but strong public schools—and I always did well. I was one of those kids who got academic colors and made the Top 10 lists,” she recalls. Her academic excellence laid the foundation for her professional ambitions, even though the exact path wasn’t always clear.
Like many South Africans, her exposure to different careers was limited. “Most of my family members were teachers, nurses, or police officers,” she says. Initially, she considered engineering. “In grade 11, I thought I wanted to become a mining engineer. But when my uncle asked me why, I had no idea.”
That question changed everything. Her late uncle noticed her aptitude for accounting and introduced her to the idea of becoming a CA. “I always did well in accounting, it came easily to me. My uncle wasn’t even a CA, but he saw the potential in this profession,” she says. “By the grace of God, my physics marks weren’t good enough for engineering, so I went with accounting.”
A Detour at the CTA Stage
Moloko completed her BCom in Accounting Sciences at the University of Pretoria. “Undergrad was a walk in the park, honestly,” she says, citing her natural academic drive and strong work ethic. But the path to her CTA (Postgraduate Diploma in Accounting) wasn’t as smooth. Despite passing all her modules, she narrowly missed the mark for the UP Honours program. “I had a supplementary exam in Accounting, and my final mark was 50%. I needed 53% to qualify.”
With limited options and no funding to repeat her third year, she started cold-calling universities in January, seeking a lifeline. The University of the Free State answered. “They were the only ones taking late applications and where I met the requirements. That’s how I ended up doing my CTA there—totally unplanned, totally God-led.”
The ITC and APC: A Battle of the Mind
Passing SAICA’s board exams is the heart of the CA journey—and often its greatest test. Moloko didn’t pass either on the first try.
She passed her Initial Test of Competence (ITC) on the second attempt, thanks to the support of the Thuthuka program during her training contract at KPMG. “They allowed me six weeks off work to focus fully. I was scared about my competencies, but they reassured me. I gave it my all during those six weeks—and passed.” But the Assessment of Professional Competence (APC) was another mountain entirely. “I passed APC on my fourth attempt. Honestly, I was very close to giving up.”
Each year, she invested in the board course, passed the preparatory work, and went in confident—only to face another failure. “It was exhausting, especially while working full-time,” she admits.
What helped? Group work. “APC is not meant to be done in isolation. Working in a group broadens your perspective—you hear different ways of thinking.” She also learned to approach every trigger from a multidisciplinary lens, not just from an accounting perspective.
Articles, Stigma, and the Weight of Repeating
Moloko’s resilience was tested further during her articles. “By the time I passed APC, I had already completed my articles. For three years, I was working and studying. Others would pass in February and take it easy. I never had that.” In her third year, she was already serving as an Auditor-in-Charge (AIC), leading teams while also repeating board exams. “It’s hard being a senior and writing with juniors. There’s a stigma to repeating, but I had to keep going.”
She credits her mentors and managers at KPMG for being understanding. “I worked with amazing people. There were some who were not easy to work with, but they were short stints. The long-term managers were great. They allowed me to be myself and learn on the job.”
Balance, Faith, and Purpose
So how did she keep going?
“For me, life required planning. I couldn’t afford to just go with the flow.” Alongside her job and studies, Moloko was deeply involved in ministry at her church, which also demanded her time and emotional energy. “You make time for the things that are important to you. I made a conscious effort to plan my time and rest when I could.”
She credits her journey to faith, supportive managers, and the people who believed in her even when she doubted herself. “Honestly, there were times I thought I would never be a CA. But I just kept going.” She also believes in the grace of God upon her life that led her to where she is today. “Failure is not an identity, it’s an event. It’s how you choose to continue after the failure that defines you. It’s not about intellect alone—mental and emotional strength matter too.”
Life as a CA(SA)
Now a Financial Analyst in the Sell-side M&A industry, Moloko’s days are dynamic and high-stakes. “No two days are the same. I love the thrill of it—closing deals, working with different owners of companies in various industries, understanding their strategy and adding value.”
She enjoys being part of transformative business moments and sees immense value in the CA designation. “The CA(SA) is not just about accounting. It opens doors. It sharpens your thinking. It makes you credible.”
Looking Ahead and Giving Back
Moloko hopes to use her journey to inspire others. “If you’re just starting out, my top three tips would be: One, believe in yourself even when you fail. Two, find a solid support system—whether it’s friends, mentors, or faith. And three, don’t be afraid to ask for help.”
She wants future CAs to understand that the journey isn’t always linear. “There’s no shame in falling or trying again. That’s where character is built. That’s where the real story is.”
