Nedbank Young Professionals is a 9-part podcast published by Life Podcasts and presented by Afripreneur, Vumi Msweli. The podcast features a new breed of young professionals having frank and interesting conversations about their relationships with money. For more insights that money can’t buy, subscribe to the series.
Growing up, Nomalungelo Stofile's father, who worked as the head of Training and Development at De Beers at the time, tried to get her to explore the beneficiation of diamonds but unlike most girls, Nomalungelo decided to turn her back on diamonds in favour of a life in the arts.
Later, when her father passed away — despite her conventional academic background, Nomalungelo tried to explore the connections she had with him through the diamond trade, taking up training in the cutting and polishing of diamonds.
During her travels in Africa for the diamond trade, Nomalungelo discovered that there was a general misconception around South African wine and, this experience inspired Nomalungelo to venture into the world of wine. She partnered with wine makers in Wellington and, created her own wine brand, Bellascene Wines.
A word of advice to young professionals
Throughout her life, Nomalungelo found pockets for her passion and, used it to turn raw materials into beautiful things — a quality that has enabled her to grow in leaps and bounds. As an introspective person, Nomalungelo tries to remain authentic by engaging her thoughts and elements about herself that she could be shying away from and, then finding ways to overcome it.
Her advice to young professionals trying to pursue their dreams and, take up space in a crowded world of work: “Try to research as much as you can while you’re still working and, make contact with people who are in the industries that you want to get into… get a mentor in the industry.”
Spending habits: The good, the bad and all the lessons Nomalungelo has learnt about money
As a serial entrepreneur who builds businesses from scratch, Nomalungelo hardly has excess money to spend. She is wired to create money and believes in reinvesting the money that she makes back into the business and, ensuring that her savings and investments are taken care of. She shares tips on how you can create positive financial habits.
Cashflow is a really interesting topic for entrepreneurs, it doesn't exist... You have to be a penny-pincher.
Nomalungelo Stofile, Managing Director – Bellascene Wines
For more money stories like this one, visit the Nedbank Young Professionals feature page.