Navigating the Growth Trajectory
In the span of almost six years, Chapu Chartered Accountants, a 100% black-owned and managed professional services firm, has undergone remarkable expansion. Founded and led by Rhangani Mbhalati, the company has strategically built a team of qualified experts, rapidly expanding its reach across five provinces. Now, with a workforce exceeding 50 professionals, Chapu sets its sights on international growth beyond the African continent.
Entrepreneurial Mindset Fuels Swift Growth
Mbhalati attributes the company's rapid growth to a strong entrepreneurial mindset embedded in its core values. Since its full-scale operations commenced in March 2018, Chapu has not only increased its footprint but has also positioned itself for global expansion. The firm's success is a result of investments in a visionary team and executives with a keen entrepreneurial outlook.
Navigating Challenges with Strategic Adaptability
While celebrating its growth, Chapu acknowledges the prevailing global and national challenges. Mbhalati emphasizes the company's commitment to continuously reassess its core strategy and conduct risk assessments. This proactive approach ensures that Chapu remains resilient and well-positioned to sustain its operations amid dynamic challenges.
Leadership Anchored in Expertise and Commitment
Rhangani Mbhalati, a chartered accountant (SA) and registered auditor, brings a wealth of experience to Chapu. His background includes public sector exposure with the Auditor-General of South Africa and international experience gained during his secondment to PwC in the United States. Mbhalati's commitment extends beyond the business realm, as he actively participates in community projects and serves on various boards and audit committees.
Strategic Business Adjustments and Continuous Improvement
Chapu has demonstrated agility by making sound business adjustments, discontinuing services that did not yield desired returns. The company's resilience lies in its ability to learn from challenges, reassess strategies, and allocate resources effectively. A pivotal business strategy revolves around heavy investments in upskilling and training staff to consistently enhance the quality of work provided to clients.
Agility in the Face of Change
Recognizing the inevitability of change, Chapu positions itself as an agile firm ready to adapt to shifts in professional standards, technical requirements, and technology. This adaptability ensures the firm's relevance in a dynamic market, presenting itself as a forward-looking entity in the accounting and auditing sector.
Tackling Auditing Sector Challenges
Chapu identifies a significant challenge facing South Africa's accounting and auditing sector — a shortage of registered auditors due to emigration. While chartered accountants are globally in demand, the firm acknowledges the scarcity of auditors. Remote work has opened doors to global opportunities for CAs, presenting both a challenge and an opportunity.
Education as a Solution
Ncumisa Mkunqana, the head of the firm's quality assurance business unit, underscores the importance of addressing the root cause — the failure of many pupils to pass Grade 12 mathematics. Addressing this educational gap is seen as a crucial step in overcoming the shortage of registered auditors in the country.
Ethics, Integrity, and Accountability
In an industry marred by corruption allegations, Chapu places a premium on ethics, integrity, and accountability. These values serve as the foundation of the firm's business operations. The company prioritizes audit quality at both firm and engagement levels, enforcing compliance with international standards on auditing.
Strategic Vision for the Future
As a newcomer in an industry marked by turbulence, Chapu remains undaunted, propelled by its vision and entrepreneurial spirit. The company's commitment to ethics, quality, and adaptability positions it as a formidable player ready to embrace future challenges and opportunities.
Chapu Chartered Accountants emerges not just as a growing firm but as a strategic and values-driven entity navigating the complexities of the accounting sector with foresight and resilience. As it looks beyond national borders, Chapu embodies the spirit of TheFounder, charting a course for international growth while upholding the principles that define its success.