"I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment
I am inspired by making a difference
PAT MOODLEY has been in the financial sector for over 30 years, where the desire to promote sustainable business development and economic growth has shaped his career.
After completing his initial university degree, Moodley obtained a position in the banking sector focusing on financing of SMMEs and corporates. This experience, as well as working for other finance institutions, resulted in a position at the Industrial Development Corporation (IDC) where he has worked for the past 19 years.
Moodley says, "Working for IDC is not only a job, but it is also a calling." He explained that he is driven by the desire to grow viable and sustainable businesses that have social impact; especially businesses that create jobs to counter the high rate of unemployment.
Moodley says that he is motivated daily by the fact that once he reaches retirement age, he will be able to reflect on his achievements and the difference that he has contributed to enhance the business sector in KZN under his leadership at the IDC.
"I am inspired by making a difference. When you finance businesses and can see the growth in these entities, it gives a great sense of accomplishment. He added that when you finance a business that creates jobs, then families can enhance their lives and secure a better future for their children. By creating jobs, we are creating a sustainable country that ensures our future. Young and upcoming university graduates have a likelihood of being employed locally rather than moving out of the country."
The commitment to his multifaceted role is apparent in the long and demanding hours that Moodley puts in to ensure that his clients' needs are met. He says, "Working at the IDC is not a standard eight to five job."Moodley describes himself as being very people oriented and has an open-door policy to both his employees and clients to discuss any issue relating to business and the work they do.
"Dealing with people is not always easy and it takes exceptional skills, especially where finances are involved. Part of my role is educating my team on how to manage client's expectations."
The IDC KZN team is very passionate about development and constantly work to empower sustainable business entities. "We are customer focused and ensure that we provide a high level of service, our clients are extremely important as they are the foundation for the growth of our economy. Servicing clients may include identifying gaps in their business model that require attention or providing mentorship to assist their businesses to grow."
The KwaZulu-Natal regional office's success has also grown out of the relationships it has forged with the public and private sectors, other development finance institutions, as well as commercial banks. In addition, Moodley says that although he and his team need to be very empathetic, they also need to be firm on the occasions that the IDC is unable to assist with applications for funding. He added that if a project is not sustainable there are valid reasons, and these are explained to the client in detail. We finance businesses that are sustainable and economically viable."
Moodley's advice to anyone entering the finance industry is that they would need to have integrity and honesty. Although Moodley is very comfortable with his current achievements, he intends to ensure that the IDC continues to have an impact on the lives of people who require support. He believes that the KwaZulu-Natal province has many opportunities and it's vital to tap into these.
Moodley is married with one son. During the weekends, he enjoys relaxing at home and often spends time cooking to unwind. When possible, he and his family enjoy travel to ensure that they spend quality time together.