Cornerstone Financial Services Group appoints Bheki Shongwe as its non-executive Chairman

Cornerstone Financial Services Group appoints Bheki Shongwe as its non-executive Chairman
Bheki Shongwe

Cornerstone Financial Services Group (CFSG) has named accomplished businessman Bheki Shongwe as its first non-executive Chairman, signalling a new era of growth for the group.

The Cornerstone Group consists of eight specialist subsidiary companies, all focusing on enabling more South African individuals and businesses to achieve their desired financial wellness goals. Shongwe’s appointment is aimed at furthering this purpose with Group CEO, Paul Damant, adding: “We are convinced that Bheki, together with the team, will help us achieve great things.”

Shongwe boasts an impressive track record. Armed with a BA in Economics and Accounting, as well as an MBA from the esteemed University of South Australia, he also plays a pivotal leadership role in a diverse range of both listed and unlisted organisations. Presently, he serves on the boards of Sabvest Capital Ltd, Cigicell (Pty) Ltd, and Kaimot (Pty) Ltd – the latter being a holding Group company of the esteemed Kaizer Chiefs Football Club. Additionally, he assumes the esteemed role of Chairman at both Flow Communications (Pty) Ltd and Matsamo Capital (Pty) Ltd. Shongwe’s distinguished career also includes former board memberships at Metrobus, Pikitup, FleetAfrica, African Bank, and Primedia, among others.

Shongwe brings his 30-plus years of business experience at both Executive and non-executive leadership levels to his new role at CFSG. “We are excited and convinced that Bheki will be a fantastic mentor to the people who head up our eight specialist subsidiary companies in support of their growth objectives. With Bheki as part of the team, we believe he will be adding jet fuel into our 3, 5 and 10-year growth forecast,” states Group Managing Director, Lauren Damant.

Shongwe has accepted the challenge and is ready to make an impact. “I’m not just going to be attending quarterly board meetings,” he stresses. “I want to roll up my sleeves and work with such a talented and knowledgeable team to make a real difference to the businesses and communities we serve.”

He also speaks of his inspiring vision: “I want to create opportunities to employ more people in our country. I’m already asking, ‘what can we do to grow Cornerstone to a point where it can employ hundreds of people?’ It’s all about contributing to the betterment of our beautiful country,” Shongwe adds.

This passion for upliftment is shared by the CFSG leadership team who plans to open a South African financial literacy institution, Cornerstone Academy, in the future.