Forbes Africa has unveiled its list of the top 25 CEOs in South Africa for 2024, representing various sectors such as retail, banking, telecommunications, auditing, and food and beverage. In a country that faces numerous economic and social challenges, these leaders stand out as beacons of resilience and adaptability.
Being a CEO in South Africa in 2024 is indeed challenging. Leaders navigate a landscape fraught with energy crises, socio-political instability, and the imperative for rapid technological advancements. Yet, the CEOs recognized by Forbes Africa are not just surviving; they are innovating, driving financial success, and positively impacting society.
To qualify for this prestigious list, each CEO has to demonstrate a minimum of four years in their position, indicating a commitment to sustained leadership and impactful decision-making. The companies they lead have not only shown stellar financial performance but have also expanded their markets and contributed to industry advancements, proving that strategic, visionary leadership can indeed uplift entire sectors.
To be eligible for the list, companies must be based in South Africa, showcasing local expertise with global aspirations. The top CEOs, therefore, embody not just corporate success but a commitment to addressing broader issues like job creation and innovation within the local context. Their stories reflect a balance between financial performance and social responsibility.
Forbes Africa’s meticulous selection process highlights how these trailblazers leverage their influence to make a tangible difference. Below are some notable leaders featured on this list:
Richard Hirsch – Hirsch’s
Optimism and Customer-Centric Leadership
Since becoming CEO in 2020, Richard Hirsch has been a driving force at Hirsch’s, a family business that recently celebrated 45 years of growth. He believes strongly in customer service, often engaging directly with staff and shoppers to ensure a top-tier experience. His focus on networking, especially for women and small businesses, illustrates his commitment to not just the brand but the community it serves.
Pieter Engelbrecht – Shoprite Holdings
Balancing Profit and Social Impact
As CEO since 2017, Pieter Engelbrecht has transformed Shoprite into more than just Africa’s largest grocery chain. His innovative initiatives focus on job creation, small business support, and community upliftment, positioning Shoprite as a stabilizing force in the region. Under his leadership, Shoprite has not only expanded but also made meaningful contributions to reducing food insecurity and inequality.
Roy Bagattini – Woolworths Holdings Limited
Driving Innovation and Supporting Youth Entrepreneurs
Since 2020, Roy Bagattini has transformed Woolworths, achieving a remarkable R76.4 billion turnover in 2024. He champions youth entrepreneurship through initiatives like the Youth Makers Competition, supporting South Africa’s next generation of innovators while enhancing customer engagement. His dual focus on financial excellence and social responsibility sets a strong precedent in the retail landscape.
Mpumi Madisa – Bidvest Group
Breaking Barriers and Championing Representation
In 2020, Mpumi Madisa made history as the first Black female CEO of a top 40 JSE company, overseeing approximately 130,000 employees. Her dedication to representation and breaking gender barriers is evident in her leadership style and the mentorship initiatives she supports, paving the way for more women and people of color in executive roles.
Dawie de Villiers – Alexforbes Group
Leadership as Coaching and Client Trust
Dawie de Villiers, leading Alexforbes since 2018, likens his leadership approach to coaching, focusing on developing trust and transparency within the organization. He has instilled a culture where putting the client’s interests first is paramount, enhancing client relationships and building a trusted advisory firm.
Sim Tshabalala – Standard Bank Group
Driving African Growth and Sustainability
Sim Tshabalala, Group CEO of Standard Bank since 2017, combines financial prowess with a vision for sustainable African growth. His commitment to achieving net-zero emissions by 2040, alongside significant earnings growth, positions Standard Bank as a leader in both financial and environmental spheres.
Kenny Fihla – Standard Bank Group
Championing SMEs and Energy Solutions
Now the Deputy CEO of Standard Bank, Kenny Fihla is on a mission to drive SME growth and implement sustainability-linked financing. His initiatives aim to ensure a responsible approach to addressing Africa’s energy needs, portraying Standard Bank as a pioneer in sustainable banking.
Dr. Gloria Serobe – WIPHOLD
Trailblazing Women’s Empowerment and Investment
As co-founder of WIPHOLD, Dr. Gloria Serobe has been a pioneer in women’s economic empowerment since 1994. Under her leadership, WIPHOLD has grown to include 19,200 Black women shareholders and strategic investments across key sectors, significantly changing the landscape for women in business.
Fani Titi – Investec
Leading Through Crisis and Promoting Sustainability
Fani Titi, appointed CEO during the pandemic in 2020, has steered Investec with a strong focus on sustainability and innovation. His involvement with global alliances for sustainable development underlines Investec’s commitment to ethical finance and investments.
Mustaq Brey – Brimstone Investment
Building Community-Focused Investments
Since 1995, Mustaq Brey has led Brimstone Investment with a clear mission: to uplift communities through strategic investments. With a focus on sustainability and social responsibility, Brey ensures that Brimstone contributes positively to both its shareholders and the communities they serve.
Adrian Gore – Discovery Group
Innovation Through Crisis
Adrian Gore, the founder and CEO of Discovery Group since 1992, has navigated through crises by focusing on innovation. His approach to business embodies the belief that challenges often foster creativity and long-term growth, which has propelled Discovery into a global business leader with millions of beneficiaries.
Anton Pillay – Coronation Fund Managers
Fostering Long-Term Growth and Community Impact
Anton Pillay, who leads Coronation Fund Managers, has directed the firm towards long-term value creation alongside impactful community initiatives. His extensive experience and commitment to social investment have earned the firm high esteem among investors, while simultaneously addressing critical societal issues in South Africa.
Paul Hanratty – Sanlam Group
Strategic Growth and Global Expansion
Since taking the reins in 2020, Paul Hanratty has driven Sanlam Group through transformative growth, focusing on expanding its operations into Africa and Asia. His strategic initiatives underscore the importance of leveraging market opportunities, which has resulted in impressive financial performance.
Gerrie Fourie – Capitec
Innovation and Entrepreneurial Leadership
Gerrie Fourie, who has been CEO of Capitec since 2014, attributes the bank’s rapid growth and prominence to its firm culture of innovation and client-centric solutions. His leadership promotes an environment where employees are encouraged to intuitively make decisions that prioritize client needs.
Ajen Sita – Ernst & Young (EY)
Resilience Through Leadership Challenges
Ajen Sita has led EY Africa since 2010. His strategic thinking has guided the firm through recent global challenges by emphasizing agility and client service. Sita’s leadership style fosters a culture of curiosity and consistency, enabling the firm to adapt to changing client needs while maintaining strong performance.
Shirley Machaba – PwC Southern Africa
Empowering Women and SMMEs
Shirley Machaba made history as the first female CEO of PwC Southern Africa in 2019. Her initiatives focus on empowering women and small, medium, and micro enterprises (SMMEs), significantly impacting business governance and economic transformation in the country.
Victor Sekese – SNG Grant Thornton
Modeling Corporate Responsibility
Victor Sekese has led SNG Grant Thornton since 1998, focusing on diversity and inclusion within the firm. With a leadership structure reflecting South Africa’s transformation, Sekese emphasizes ethical leadership and corporate responsibility, setting a benchmark in the business landscape.
Shameel Joosub – Vodacom Group
Driving Innovation in Telecoms and Financial Services
Under Shameel Joosub’s leadership, Vodacom has achieved significant revenue while introducing groundbreaking innovations in telecommunications. His strategic adaptability has allowed Vodacom to thrive and redefine financial services in the region, ensuring it meets the needs of a diverse customer base.
Ralph Mupita – MTN Group
Championing Digital and Financial Inclusion
As CEO since 2020, Ralph Mupita is dedicated to enhancing digital and financial inclusion throughout Africa. His leadership at MTN has led to substantial revenue growth through innovative mobile solutions that empower both rural and urban populations.
Darren Hele – Famous Brands Limited
Resilience and Growth in Food Services
Darren Hele’s leadership at Famous Brands has emphasized resilience, with impressive growth despite recent challenges. His strategic focus on innovation and community support, particularly during crises, exemplifies how brand loyalty and corporate responsibility can coexist.
Anthony M. Leeming – Sun International
Navigating Challenges and Driving Growth
Since 2017, Anthony Leeming has guided Sun International through challenges within the hospitality sector. His efforts to expand and innovate in response to market conditions reflect strategic planning and collaboration across industries.
Chris Du Toit – Tsogo Sun Group
Sustainability and Recovery
Under Chris Du Toit’s leadership since 2019, Tsogo Sun Group has made significant strides in sustainability while navigating pandemic recovery. His comprehensive strategies have positioned the group for long-term viability, especially in an energy-conscious market.
Dr. Thulani Dlamini – CSIR
Championing Local Innovation
As CEO of CSIR since 2017, Dr. Thulani Dlamini focuses on enhancing South Africa’s scientific capabilities and reducing import dependency. His leadership is pivotal in fostering innovation and economic growth through local production initiatives.
Nompumelelo ‘Mpumi’ Mpofu – ACSA
Revitalizing South Africa’s Aviation Sector
Since becoming the CEO of ACSA in 2020, Mpumi Mpofu has revitalized the aviation sector through innovative management strategies, achieving a 16% revenue increase in 2023-2024. Her operational efficiencies and focus on infrastructure development are crucial for economic recovery in the sector.
Serge Sacre – L’Oréal South Africa
Celebrating Diversity in Beauty
Serge Sacre has led L’Oréal South Africa since 2019 with a focus on inclusivity in the beauty industry. His initiatives celebrate African heritage and aim to empower communities through locally inspired products, aligning corporate goals with social impact.
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