Meet Shirley Machaba: First Black woman to lead PwC South Africa

Shirley Machaba, CEO and Regional Senior Partner at PwC South Africa, broke new ground as the first Black woman to lead the firm’s regional business, taking on the role at a time when confidence in the auditing profession faced renewed scrutiny. 

Appointed on July 1, 2019, Machaba stepped into one of the most senior positions in professional services across the region. A South African chartered accountant and Chartered Director (SA) with more than two decades of experience, she built her career across audit, risk, governance and compliance in both the public and private sectors. 

Her appointment came as South Africa grappled with the fallout from corporate failures that raised questions about oversight and accountability. Machaba said restoring trust in the profession would be central to her tenure. 

“I have an opportunity and a responsibility to make decisions that are in the interests of the firm, both in the short and long term,” she said at the time, adding that she expected to be held accountable for her leadership.

Machaba building a career in public service and audit 

Machaba’s path to the top began modestly. After earning a bachelor of commerce degree in accounting from the University of Venda, she worked part-time as a junior internal auditor at the Auditor-General’s office while also lecturing. 

She later completed a postgraduate diploma in auditing and accounting at the University of South Africa, alongside further studies in integrated reporting at the University of Pretoria and corporate governance at Duke University. 

Before joining PwC in 2005, she spent nearly a decade at the Auditor-General’s office, rising through roles including assistant auditor, senior auditor and performance audit manager. She later moved to South Africa’s Department of Justice, where she led the internal audit unit.

PwC governance reforms, deals, Eskom refund

Machaba’s tenure at PwC coincided with a period of heightened scrutiny for audit firms in South Africa. She pushed for stronger governance and a renewed focus on ethical standards, positioning the firm as part of the effort to rebuild credibility in the sector. 

Under her leadership, PwC advised on several high-profile transactions. The firm supported British International Investment on a $15 million mezzanine debt investment into Starsight Energy, backing solar and hybrid energy projects in Nigeria. It also advised Woolworths Holdings Limited on its acquisition of in2food. 

The firm also returned R43 million ($2.6 million) to Eskom following findings linked to a procurement process, a move that underscored the broader push for accountability across institutions.

Expanding impact beyond the boardroom 

Beyond corporate advisory work, Machaba has been active in initiatives aimed at widening economic participation. Through the Faranani program, a rural women’s training initiative, she helped support more than 4,000 women, many of whom now run small businesses. 

Her contributions have drawn recognition. In 2024, Forbes named her among its top CEOs in Africa. She has also been nominated for the African Women in Business Excellence Award by the African Business Chamber for 2026. 

Machaba previously served as president of the Institute of Internal Auditors of South Africa from 2011 to 2014 and later chaired its Institute Relations Committee.

PwC global reach drives business change

PwC South Africa was founded in 1921 when Price Waterhouse opened its first office in Johannesburg.

The firm grew over the decades through mergers and became part of PricewaterhouseCoopers in 1998, which is now known as PwC. 

Today, the network spans 19 offices in South Africa, including operations in over 30 African markets.

It is a premier professional services firm providing audit, tax, and advisory services to public, private, and government clients and employing thousands of professionals across the continent. 

Machaba often pointed to the firm’s role in helping clients navigate change, particularly as businesses adapt to shifting economic and technological demands.

Machaba’s transition and legacy 

Machaba is set to step down on June 30, 2026, after leading the firm for seven years and spending more than two decades at PwC. She will be succeeded by Anastacia Tshesane effective July 1, 2026. 

Reflecting on her tenure, Machaba said leading the firm had been a privilege and expressed confidence in the next phase of leadership. 

Her time at the helm leaves a record shaped by steady leadership, a focus on accountability and a broader effort to rebuild trust in a profession under pressure.