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Make Money Mondays

'I grew up poor, but never realised it'

21 September 2020 8:15 PM

Bruce Whitfield interviews Ciko Thomas (Nedbank) about his attitude to money (hopes and fears, successes and failures, etc.).

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly “Make Money Mondays, Personal Edition” feature.

This week Arabile Gumede (in for Whitfield) interviewed Ciko Thomas, Managing Executive of Retail and Business Banking at Nedbank.

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More articles on famous people and their money beliefs:


Thomas started his career at Unilever in January 1992.

He joined Nedbank Group in January 2010 as Group Executive of Group Marketing, Communications and Corporate Affairs.

In November that same year, Nedbank appointed him as Managing Executive of Consumer Banking in the Retail and Business Banking Cluster.

Nedbank Retail and Business Banking appointed Thomas as Group Managing Executive on 1 April 2016.

Thomas was previously General Manager of Retail Banking Marketing at Absa Group.

He also held management positions at SA Breweries and M-Net.

  • What is it that Thomas believes about money?

  • Does it keep him up at night?

  • Does he spend like crazy or save compulsively?

  • How did his childhood experiences shape his views on money?

When I was eight... my father took me to the motor assembly line [where he worked] to show me off… I walked out of the factory with pockets full of money! My mom took every cent. I have no doubt she would’ve deployed it productively.

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I grew up in a poor community, but I never realised I was poor… Pure happiness more than made up for the very little money that was going around…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I used to work at a lab that tested used lubricants and oil… I hated it! The place was hot and stinky, but the money was nice… We all stank!

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

Listen to the interview in the audio below (and scroll down for more quotes from it).

Harvard was an incredible learning environment…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I love the values of the organisation [Nedbank] … impressed by the quality of leadership…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I’ve got a love/hate relationship with money… I often punish myself, psychologically… I always save for a rainy day…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I’m a simple guy and I come from a happy-go-lucky family… I keep a very close circle… I picked up the odd scoundrel as a friend! …

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I was about 13 or 14 when I got my first bank account – it was NBS…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

There’s only one soccer team in the country – The Mighty Bucks [Orlando Pirates]!

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank

I have a massive CD and vinyl collection… I’m a guy that loves cars… In particular, VW and BMW. I also buy art… Like most guys, I buy sneakers…

Ciko Thomas, Managing Executive of Retail and Business Banking - Nedbank



21 September 2020 8:15 PM

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