4 Most Powerful CEOs in South Africa (2024)

In South Africa, the cooperation would be controlled by some powerful chief executives who control some of Africa’s biggest and most powerful companies. These chief executive officers are responsible for the success and growth of their companies, withering the Storm at any point it comes, and staying strong. they also play an indispensable role in stirring economic advancement and influencing pressing economic and social issues.

These leaders have been able to balance the company’s goal for profit, technologically innovative constructions, and social justice 

This article is an exhaustive list of some of the most powerful men and women that are changing the economic landscape of South Africa’s business world

The Most Powerful CEOs in South Africa

1. Phuthi Mahanyele-Dabengwa – CEO, Naspers South Africa

Phuthi Mahanyele-Dabengwa joined Naspers as South Africa CEO, in July 2019. Before joining Naspers, she was the co-founder and Executive Chairperson of Sigma Capital, an investment holding company formed in 2015.

She held the position of CEO at Shanduka Group, an investment holding company from 2004 to 2015. Prior, she was the Head of the Project Finance South Africa business unit at the Development Bank of Southern Africa.

Early in her career, Phuthi worked in New York at Fieldstone, an international firm specializing in the financing of infrastructure assets. She later transferred to the South African office, where she served as a Vice President. She is involved in various youth development initiatives, including supporting students and mentoring young professionals.

She is part of the “Dignity Day” programme led by Young Global Leaders of the World Economic Forum which is focused on empowering youth to articulate their ambitions and gain respect through dignity.

Her leadership style is characterized by a focus on empowerment, inclusivity, and the use of technology to address socio-economic challenges.

She has been instrumental in expanding Naspers’ venture investments and digital platforms across Africa, while also advancing gender and racial diversity in the workplace. Her influence transcends corporate profits, making her a pivotal figure in South Africa’s tech ecosystem.

2. Leila Fourie – CEO, Johannesburg Stock Exchange (JSE)

Leila is currently the Group CEO of the Johannesburg Stock Exchange and also serves on the board of the UN Global Compact and UN Global Investors for Sustainable Development (UN GISD). Leila’s business career spans more than 30 years working in consulting, investment banking, retail banking & capital markets. Her diverse experience has been acquired in some of South Africa’s leading companies in these fields, including Accenture, Standard Bank & the Johannesburg Stock Exchange. 

Throughout her career, Leila has held senior executive positions & directorships of global portfolios, local boards & US boards. Her board roles have included that of non-executive director, executive director & managing director. Leila has also served in the capacity of chairman of the board.

Throughout her career, Leila has gained experience in turnarounds; set up two new Greenfields organizations; established new global and local divisions within a multinational organization; launched new products; established and closed down joint ventures; advocated on national policy matters; and maintained existing revenue producing and support functions. Leila holds a PhD in Economic & Financial Sciences.

Over time, she has amassed serval awards, which include Business Woman of The Year 2021 and ranked in the Top 100 Women CEOs in Africa by Reset Global People and Advance Media. She was also recognised by the World Federation of Exchange’s (WFE) Women Leaders 2021 for outstanding leadership and was also given the Alumni Dignitas Award 2021 – University of Johannesburg (An award honouring individuals that have excelled in their respective fields signifying merit, and worthiness) amongst others.

Her approach to leadership is inclusive and forward-thinking, with a focus on transparency and sustainability. Fourie has led efforts to integrate environmental, social, and governance (ESG) principles into the JSE’s operations, positioning it as a leader in responsible investing. Her influence on South Africa’s financial markets makes her one of the most powerful CEOs in the country.

3. Sim Tshabalala – CEO, Standard Bank

The man behind Africa’s ‘best bank’, Sim Tshabalala has helmed Africa’s largest bank in terms of assets since 2017 – at age 45 becoming one of very few Black CEOs to lead an African bank.

Considered the market leader in South African banking and with a physical presence in 20 countries, the 161-year-old Standard Bank delivered headline earnings of US$1.85 billion in 2022, up 37% on the year before.

Describing himself simply as “just a Zulu boy from Soweto”, Tshabalala has worked his way up from the country’s largest Black township to lead one of Africa’s largest financial institutions. He initially trained as a lawyer and was admitted as an attorney of the High Court of South Africa before deciding to switch to banking – and has since spent more than two decades in the financial services industry.

Tshabalala is a strong advocate for sustainability and innovation within the banking sector. He has overseen the bank’s efforts to adopt more environmentally friendly banking practices, while also spearheading initiatives to embrace fintech solutions that improve efficiency and customer experience.

4. Nompumelelo (Mpumi) Madisa – CEO, Bidvest Group

When Mpumi took the helm of Bidvest Group in 2020, just shy of her 40th birthday, she became the only black female CEO among the top 450 JSE-listed companies and the first to be appointed Bidvest chief.

Since taking the helm mid-pandemic, Mpumi has successfully steered the industrial conglomerate to double-digit profits and grown the Group’s renewables and alternative energy segment.

With four years under her Bidvest belt, Mpumi has worked her way up the leadership ranks, including as Executive Director and was CEO-in-waiting before transitioning.

Passionate about mentorship and female leadership advocacy, Mpumi has worked on creating an enabling environment especially for women to succeed and rise.

Conclusion

South Africa’s most powerful CEOs in 2024 are a diverse group of leaders who have made significant strides in their respective industries. They not only drive profitability and innovation but also address pressing issues like sustainability, social justice, and financial inclusion.

These leaders are transforming South Africa’s corporate landscape, ensuring that their companies remain relevant in an ever-changing global economy. Whether in technology, energy, finance, or services, these CEOs are shaping the future of business in South Africa and setting examples for the next generation of leaders.