Leadership that lasts – trust, alignment, and the courage to communicate
By Etienne Le Roux, Chief Financial Officer at Metropolitan When I think about leadership, it’s not the big boardroom moments that stand out the most. To me, it’s the quiet, unguarded ones that make all the difference – those moments when you bring people together around a table, cut through the noise, and have a real conversation about where the organisation is headed. And this is the universal truth, leadership isn’t about having all the answers. It’s about creating a space where the best ideas are revealed while everyone feels part of something bigger than themselves – a team with a shared goal. That’s the ultimate destination, but the journey is far from comfortable and the bumps in the road ahead may seem like mountains. No matter how good a driver you are as a leader, if you are unable to pull your team together, your organisation will never reach its full potential. So, what have I learned about succeeding together? Here are a few lessons I have learned during my years in leadership roles: Projects fail when we lose sight of what we are solving for Let me start with this: if you’re unclear on what problem you’re solving, you’re setting yourself up to fail. I’ve seen it too many times, exciting projects launched because they sounded innovative or used the latest tech, only to unravel because no one stopped to ask, “What are we really trying to solve?” Think about it: the best ideas solve real problems—something your customers need or a way to make your business work better. Start small, test your idea, and keep it simple. If you’re launching a new venture, for instance, it might be best not to build the whole ecosystem from scratch. Can you sell an existing product through a new distribution channel? Can you digitalise an existing process? These are two examples of hypothesis testing that you can use to build the full venture. Having clarity on which hypothesis to prove before starting the end-to-end process makes a significant difference. Trying to solve too many problems at once makes it difficult to unpack why something is not working. Instead, focus on proving successes in links of the chain before solving for the entire value chain. The gift of failure Here’s the thing about failure: it’s not a dead end! If I look back, some of the most valuable lessons I have ever learned came from projects that didn’t pan out. But the key is what you do with that failure. If you let it pass without reflection, you’ve wasted it. If you use it to understand what went wrong and share those insights, you’re turning failure into progress. Here’s the magic—when people know they won’t be blamed for failure, they’ll take risks. They’ll speak up. They’ll try something new. That’s when real innovation happens. But this only works if we create an environment where people feel safe. If a team doesn’t feel heard, or worse, if they feel punished for missteps, you lose their creativity—and that’s the most expensive thing to lose. Making the tough calls Leadership often means sitting in the tension between opposing forces. One moment you’re in a meeting about cutting costs, the next someone’s pitching a bold growth initiative that will cost millions. It’s messy, but that’s the job – balancing today’s realities with tomorrow’s potential. Deciding whether to pull the plug on something is one of the hardest calls. And honestly, it’s never black and white. The key is to step back, look at the evidence, and include diverse perspectives in the conversation. Test assumptions, listen to dissenting voices, and remember to ask, “What’s the opportunity cost if we keep this going?” Delaying decisions drains resources – time, energy, and even morale. In business, there will always be more ideas and opportunities than you have time to successfully implement. Often, saying no to things is the more crucial decision as it creates focus for the team, and improves the chances of execution. Multiple small wins create energy and momentum, which often lead to larger wins down the road. A leader’s role is to direct focus on the right things that will move the needle, and this involves making tough calls which includes having to say no. Honest conversations build trust Here’s where it all comes together: communication. If you’re not honest and clear about decisions you make, you lose trust from your employees. People start second-guessing leadership, rumours spread, and suddenly, your team falls out of alignment. The truth is alignment isn’t all about everyone agreeing. It’s about ensuring everyone understands why a decision was made, what it’s based on, and what happens next. That clarity is what keeps people rowing in the same direction and doing it in sync, even if they might not entirely happy about the course. When you get this right, something incredible happens. You create a culture where people don’t just follow – they invest themselves. They challenge, they innovate, and they make your organisation stronger. Leadership is a journey At its core, leadership isn’t about having all the answers. It’s all about learning. When we win, and even when we fail, there’s an opportunity to learn; so be sure to pause and take in the learnings. By applying these lessons, we create an environment where people are seen, heard, and most importantly, valued. Yes, there will be tough decisions to make, and you’re going to need to demonstrate humility when you get it wrong. Your team needs to know that you are not infallible – and that’s okay. Humility doesn’t diminish a leader’s authority; it enhances it by showing that leadership isn’t about being infallible—it’s about being human. When leaders embrace humility, they empower their teams, build stronger relationships, and inspire a culture where every voice matters. So, if you’re ever wondering what great leadership looks like, remember this: it’s not about you. It’s about the people you serve, the problems you solve, and the culture you build. If
Taking South Africa’s agenda to the world: B20 South Africa kicks off in Cape Town
By Koketso Mamabolo The economy reigns supreme and the 2008 financial crisis triggered a response from the developed and developing world which has sought to mount collective responses to the world’s economic and financial challenges. Representing two-thirds of the world’s population, 85% of the world’s GDP, and over 75% of international trade, the G20 group of countries is a global forum which brings together decision-makers as they discuss issues, share information, draft the policies which seek to maintain order, formulate approaches to stimulate inclusive growth and avoid the kind of crisis the world witnessed almost two decades ago. Along with the dialogue between heads of state, finance ministers and diplomats is a forum which provides a platform for a vital cog in any economy: the business community. The Business 20 (B20) has, since 2010, brought together business leaders from both non-G20 and G20 member states for an opportunity to present their views on how we can solve global economic problems. The South African government – led by the Presidency, cabinet’s economic cluster and Dirco – is the host of this year’s G20 summit and comprehensive programmes of meetings of working groups have already begun. The private sector host of B20 South Africa is Business Unity South Africa (BUSA) which, on the domestic front, has been building a relationship with President Cyril Ramaphosa’s administration that has seen the public and private sector collaborating to address the country’s priorities, such as the energy and logistics crises, which has proved fruitful. Together with Business Leadership South Africa (BLSA), BUSA hosted the summit’s launch this week in Cape Town, under the theme of “Inclusive Growth and Prosperity through Global Cooperation”, kicking off a year-long programme guided by task forces formed around eight socio-economic issues: “The B20 is an unprecedented opportunity to engage with the world and build our relationships while plugging into the wider G20 agenda to project South Africa’s interests to the global stage,” wrote BLSA CEO Busisiwe Mavuso in her weekly newsletter leading up to the launch. “It ensures that South Africa is part of the conversation and that our contributions are recognised.” Co-chaired by Standard Bank Chairperson Nonkululeko Nyembezi and former Exxaro CEO Mxolisi Mgojo, the summit’s task forces will each engage with around 150 members, from more than twenty countries representing multiple sectors. From March to July, the task forces will develop policy papers and have engagements with G20 Working Groups, delivering and discussing the papers leading to the actual summit itself in November. Two task forces of particular significance in the local context are the employment and education task force and the trade and investment task force. The former because of the high unemployment rate and the latter because of a widespread conception of investor apathy and recent developments around tariffs sparking fears of eminent trade wars. The impact of technology and digital transformation (a task force on its own) has been felt heavily in both areas as the scale of technological innovation has led to fears of countries being left behind due to a lack of skills and investment in the digital infrastructure needed to drive the growth the world needs. “When you talk about a good job, that conjures up in my mind formal employment,” said Sanlam CEO Paul Hanratty, highlighting the role of technology-related interventions in equipping people with the productive skills and resources needed. “On this continent and in the south, the informal economy is massive and we have to pay attention to that. We have to look at the interventions that need to take place.” With the economy firmly in the spotlight, and socio-economic challenges taking on new dimensions as geopolitical tensions grow, as much attention will be on the policy recommendations of the B20 task forces as the outcomes of G20 Working Groups. Sources: B20 South Africa | G20 South Africa | Daily Maverick | IOL | BLSA | Polity
Your next big break in sustainability is waiting
By Thabiso Mohlabeng & Koketso Mamabolo To all the sustainability champions and forward-thinkers who know that the future is built together, The Future of Sustainability Conference is your gateway to meaningful connections, groundbreaking ideas, and collaborations that will shape our planet’s future. Are you ready to connect with some of the brightest, most influential figures driving us towards a greener tomorrow? Looking to scale up your sustainable impact, secure funding and form game-changing partnerships? On 26–27 March 2024, Emperor’s Palace will transform into the epicentre of sustainability innovation—and you’re invited to join the movement. The programme is packed with interactive sessions, fireside chats, and more, allowing you to position yourself in rooms where ideas turn into action—and where you’ll meet collaborators who share your vision. You will learn how companies are turning ESG goals into profit, scaling green tech, and redefining industries by solving some of sustainability’s biggest challenges. From global leaders in renewable energy and capture, to award-winning startups blazing a trail in the circular economy and ESG investment pioneers looking to fund innovative solutions. You’ll meet: Explore the list of attendees Whether you’re a seasoned sustainability pro or a rising star, this is where ideas collide and partnerships ignite. Let’s create a legacy—one connection at a time. Secure your spot—tickets are going fast! With only a few weeks left, don’t miss your chance to join this exclusive gathering. Network with purpose, gain actionable insights, and leave with a contact list full of changemakers.P.S. Early-bird pricing ends soon! Snag your ticket: https://qkt.io/FOS2025 before they’re gone—your next big opportunity awaits.
Driving gender parity in tech: A blueprint for scaling inclusion
By Nyari Samushonga Women remain underrepresented in the IT industry, a fact that is both well-known and well-documented. While numerous programmes and interventions aim to enrol more girls in STEM subjects, large-scale change remains daunting. The underrepresentation of women in technology is not due to a lack of capability but the result of historical, structural, and systemic exclusion. Over time, this exclusion has created a false perception that women are less suited for technology roles. The reality is that women have always been capable. The real challenge is not about “fixing” women but rather unlearning our biases and reframing social perceptions—both in the minds of young girls and in the broader tech ecosystem of employers, mentors, and collaborators who shape career opportunities. This reframing starts with early exposure to technology and intentional career guidance that normalises women’s participation in tech. If young girls can see technology as a viable and exciting path from an early age, they are more likely to pursue it with confidence. At the same time, the industry itself must shift its perception of who belongs in tech, ensuring that hiring practices, mentorship, and workplace cultures actively foster inclusivity. From high school, I followed a more traditional path, studying finance and building a successful career over 11 years in the sector. I enjoyed my work, and my background gave me deep insights into business and problem-solving. But as technology evolved, I realised that software solutions and products were transforming industries, and my financial expertise was valuable in teams building tech-driven solutions. This opened my eyes to the fact that technology was not an isolated field but a tool shaping every industry, offering opportunities for professionals from diverse backgrounds to contribute meaningfully. What was strange, however, was that despite this expanding need for varied expertise, I was often the only woman in the room or on a team. It was a stark contradiction: an industry unlocking new possibilities for different skill sets yet still lagging in gender diversity. This experience ignited a passion in me to support more women in entering the field and claiming their place in shaping the future of technology. Success stories: Proof that women have always been capable The potential is almost unimaginable. When given the opportunity, young women don’t just participate—they excel, lead, and inspire. WeThinkCode_’s deliberate approach to gender inclusion has not only opened doors but has also proven that talent knows no gender. Many of our female graduates have gone on to become role models, demonstrating their initiative, resilience, and ability to thrive in the tech industry. These young women are proof that their ability has always been there—when given the chance, they grab opportunities with both hands and redefine what’s possible for the next generation. Scaling the vision: Public-private partnerships for inclusive growth Now, we need to scale this vision. Achieving true gender parity in tech requires public-private partnerships that bring together: Investments from key partners continue to bolster WeThinkCode_’s ability to scale nationally. JPMC and Standard Bank Tutuwa are funding a 60-person cohort at Central Johannesburg College (CJC), with JPMC also engaging public sector stakeholders for nationwide TVET adoption. Meanwhile, DGMT and the Caterpillar Foundation are supporting a 30-person cohort at South Cape College’s rural Garden Route/Hessequa Campus. The roadmap is clear. The talent is there. The ambition is there. Now, we must build the pathways that bring more women into tech—not just in pockets, but at scale. Nyari Samushonga is the CEO of WeThinkCode, a South African software development academy that operates in Joburg, Durban and Cape Town.
Sun International: Responsible CSI and doing business the right way
By Anthony Leeming, CEO, Sun International From day one, the Sun International approach has always been to do business the right way. I am a firm believer in socially responsible capitalism. Without economic growth, we are never going to solve the gamut of social challenges we face. At the same time, we need to be responsible in how we go about achieving it, and responsible in ensuring we are giving back. The opportunity provided to us as a business comes from our licences, communities, and customers – and this is something we bear in mind in day-to-day operations and is embedded in all our practices. Sustainability is not a choice. It may be tempting to shoot for short-term gains, but you simply can not put a price on cultivating an environment in which all stakeholders flourish. If you are operating sustainably, you are using fewer resources and if you are looking after communities, you have a more sustainable environment in which to operate. If you are looking after your employees and their wellbeing, you have a more stable, productive, and happier workplace, and this ultimately spills over to the customer. A positive legacy South Africa has dealt with the gaming industry in the right way. Casinos have had a major impact on job creation, empowerment, and communities in largely impoverished areas and are a massive source of tax revenue. And the impact is much wider than the casino floor – for instance, as our resorts are entertainment hubs, we uplift a huge number of artistic and service providers. Clearly, the licence comes with a responsibility to our patrons. We spearheaded the national responsible gaming programme 30 years ago and continue to contribute to the initiative in the interests of a safer industry. With responsible practices in place, the good casinos have done in this country far outweigh the handful of negatives. We are able to build on this legacy of positive impact through our CSI and socio-economic development initiatives and other projects. Annually, we contribute 1% of our net profit after tax) towards socio-economic development across our key focus areas: education, sports, and arts and culture. Our flagship projects include the Arts and Culture Trust Nyoloha Scholarship Programme for 17 to 25-year-old youths to pursue tertiary education in the visual and performance arts and the Eco-schools programme, through which teachers and learners learn how to build environmental resilience in their schools and communities. As part of our ESG journey, we are committed to reducing our environmental footprint by sending zero waste to landfill and promoting the efficient use of water and electricity. To assist the micro-economies surrounding our properties, we are committed to procuring locally and engaging with black-women-owned businesses. Our human-resources-driven programmes like Christmas Wish and CEO Wish help our employees in times of need and we stand firm as an organisation against gender-based violence through our #NOEXCUSES campaign. Again, we have been doing this for a long, long time because it is a part of our DNA, not because of pressure from environmental groups or B-BBEE requirements. What I feel most proud of is that when we train people, they often go on to bigger things, whether in or outside the group. Seeing people grow, such as Wild Coast Sun GM Peter Tshidi, who began his career as a porter at The Palace, is evidence of the success of our talent pipeline and critical to our success. An end to the energy crisis The energy crisis is our biggest challenge. It is critical that we take the lead alongside other large corporations to find solutions, otherwise the entire economy will be in jeopardy. It is imperative that we strive to own as much of our electricity production as possible. We are going to be focusing on renewable energy and explore wheeling arrangements, while we continue to help our communities and create jobs. We have started a pilot solar project at Sun City – the R16-million, 1.4MW solar plant produces enough electricity to power 329 households annually – and are pushing for all our big properties to move to solar power and battery storage to reduce the reliance on diesel. Ultimately, when it comes to sustainability, we are all in this together. Being environmentally friendly and socially responsible should never be seen as a competitive advantage. We should be learning from best practices and each other. If we do not put down a marker and stand side by side for the good of our country right now, there is no telling what kind of issues we may face further down the line. Anthony Leeming is the Chief Executive Officer of Sun International.
New year, healthier you: Workplace wellness tips for 2025
By Sue Ramauthar As we step into a new year, many of us set ambitious health goals – hitting the gym, eating better, or reducing stress. But have you considered how your daily work environment impacts your health? Whether you spend hours at a desk, on your feet, or moving between meetings, your workplace habits play a huge role in your overall well-being. As a physiotherapist, I believe three key areas can make a significant difference: ergonomics, movement, and body awareness. Here’s how to start the year strong by integrating these into your work routine. 1. Prioritise ergonomics: Set yourself up for success Poor workstation setup is one of the biggest contributors to neck pain, back pain, and headaches. Many employees unknowingly adopt postures that strain their bodies, leading to discomfort and reduced productivity. Simple ergonomic adjustments to make today: 2. Move more, sit less Sitting for prolonged periods is one of the biggest workplace health risks, linked to musculoskeletal discomfort, poor circulation, and even long-term health issues like heart disease. The good news? Even small, consistent movements throughout the day can counteract the effects of prolonged sitting. Ways to incorporate movement into your workday: 3. Improve body awareness: Listen to your body Pain and discomfort are often signs that something in your routine needs adjusting. Many people ignore early warning signals until they develop into chronic issues. Learning to listen to your body and make small corrections can prevent long-term injuries. Key body awareness tips for a healthier work routine: Final thoughts Starting the new year with healthier workplace habits doesn’t require drastic changes, just small, consistent adjustments. By optimising your workstation, incorporating movement, and being mindful of your body, you’ll set yourself up for a year of better posture, reduced pain, and improved well-being. So, as you dive into 2025’s work demands, remember: your health is an investment, not an expense. Move well, sit smart, and stay strong! Sue Ramauthar is a corporate wellness practitioner and physiotherapist at SuedeWellness
Trust and fact-checking capabilities on social media platforms in South Africa
By Dr Mmaki Jantjies Has a social media post ever left you wondering whether the information it conveyed was accurate and reliable? The role of social media platforms has grown significantly across business and society. These platforms are now integral to daily life in South Africa, influencing aspects such as communication, information sharing and public discourse. Businesses and public organisations now rely on social media platforms having invested in marketing, customer engagement and information sharing for their service users and customers. Considering the substantial role and influence of such platforms amongst users, should we be concerned about the new fact checking mechanism introduced by the global social media platforms? According to DataReportal’s Digital 2024: South Africa report, in January 2024 South Africa had 26 million social media users, representing about 42.8 percent of the total population (DataReportal, 2024). Here, the DataReportal survey highlighted the following key reasons for social media use among internet users aged 16-64: finding information (83.6%); researching how to do things (79.9%); staying in touch with friends and family (72.5%); finding new ideas or inspiration (69%); and keeping up-to-date with news and events (66.2%) (DataReportal, 2024). A significant number of young people thus leverage social media platforms both as trusted platforms for key information and as a news platform. These include many USA based social media platforms such as Facebook, WhatsApp, Instagram, X (formerly Twitter) and TikTok (its parent company headquartered in Beijing), remain dominant among South African users, offering a space for connection, content sharing and news access. Recent changes in fact-checking by social media platforms Some platforms have recently reduced their emphasis on fact-checking. An example of this is Twitter, coming under new ownership as X, this company has significantly reduced personnel of its fact-checking teams (Nieman Lab, 2022). The reasons cited for these changes often include cost reduction, concerns about bias and a shift towards prioritising ‘free speech’, even if at times this may include misinformation (Freedom House, 2023). In January 2025, the parent company of Facebook and Instagram, Meta Platforms Inc., announced the discontinuation of its third-party fact-checking programme in the United States. Replacing it with a “Community Notes” system (Meta, 2025), Meta CEO Mark Zuckerberg cited concerns over political bias in traditional fact-checking, emphasising free expression instead. Fact-checking plays a crucial role in maintaining information integrity by preventing misinformation, promoting informed decision-making and maintaining public trust. Establishing trust is even more critical in the age of AI-generated content as AI can blur the lines between authentic and fabricated information, making discernment challenging. Social media platforms should thus implement robust measures to ensure content accuracy and reliability. Are community notes a substitute for fact-checking? As social media platforms continue to grow in importance in communities, trust in these platforms becomes paramount which explains why fact-checking processes have been built into these organisations. In replacing fact-checking teams, social media platforms will then rely on community notes as part of the fact-checking process. Community notes are a crowdsourced fact-checking system on social media platforms. Users can flag potentially misleading posts, and other users can add notes providing context, corrections, or links to fact-checks. These notes are then voted on by other users, and the most helpful notes are displayed alongside the original post. While community notes aim to combat misinformation by leveraging collective knowledge, they also present challenges, including potential manipulation, slow response times, and reliance on the expertise of non-professionals. Despite these challenges, community notes represent an evolving approach to information moderation on social media. X has for a while introduced “Community Notes” which allow users to add context to potentially misleading tweets (X Help Center, 2025). However, although such notes can provide diverse perspectives, they still raise concerns about information manipulation and the spread of misinformation. Moreover, it is still debatable whether or not this crowdsourced approach is as effective as professional fact-checking. As Meta’s “Community Notes” system represents a shift towards a community-driven approach, this switch in approach raises similar concerns about accuracy and potential misinformation spread by relying on user input rather than professional fact-checkers (Meta, 2025). Impact of misinformation on South Africa Misinformation has had a tangible impact in various sectors in South Africa. An example is the Listeriosis outbreak in 2017 where there was a lack of clarity on the source of the outbreak. The impact of misinformation spreading had an impact on various suppliers of processed meat with sales being impacted because of this. Another example is in cases that require complex domain knowledge, such as scientific or legal matters. During the COVID-19 pandemic, false information about vaccines spread rapidly, contributing to vaccine hesitancy. This misinformation, often fuelled by social media, led many individuals to doubt the safety and efficacy of vaccines, despite overwhelming scientific evidence supporting their effectiveness. As a result, businesses and governments faced challenges in encouraging vaccination, which in turn affected public health efforts and impacted the broader economy. (Africa Check, 2021). Political disinformation campaigns have also exacerbated social divisions while undermining democratic processes (Media Monitoring Africa, 2022). The challenge of misinformation is thus not unique to South Africa with several examples of its global impact available in the public domain. Safeguarding against misinformation As social media platforms evolve their approach to content moderation and fact-checking, users should assess and utilise the resources available critically. Maintaining vigilance regarding information helps to uphold the quality of public discourse while supporting the democratic process. Equally organisations engaging users on these platforms should continue to invest in the education and protection of their users on platforms they rely on while also being aware of the implications of such information changes, not only on users but also on relying on third party platforms as trusted platforms for critical user engagement. Here are several reputable fact-checking platforms available for public use: Dr Mmaki Jantjies is an innovative leader who is passionate about harnessing the power of technology and R&D to drive change. She is also an Adjunct Associate Professor in Information Systems. Sources: Africa Check (2022). The changing face
Marthinus Visser: OUTsurance Group CEO – Expanding internationally
By Fiona Wakelin OUTsurance was started in 1998 by three entrepreneurs, Willem Roos, Howard Aron and Rene Otto inside the Rand Merchant Bank Holdings stable. It brought a number of innovations to the somewhat stale short term insurance market at the time. These included the OUTbonus, flat excess structures, roadside assistance and covering vehicles for retail value. These addressed many of the common gripes around insurance at the time. It made use of home-grown talent and built all its systems and underwriting capabilities in house. It was able to reach break even after a mere 22 months and continued a strong organic growth trajectory since then as the brand got stronger and more established. Positive word-of-mouth played a key part in the successful building of the brand. In South Africa the company offers car, home, business and life insurance; in Australia they offer car, home, business and bodily injury insurance; and in Ireland the offering includes car and home insurance. OUTsurance Group CEO, Marthinus Visser shares key insights into driving outstanding growth: Creating a runway for growth We have identified the three key needs of insurance consumers as a competitive price, good service, and trust that your claim will be paid. By focusing our efforts every day to get better at delivering those three elements, we are becoming more and more competitive allowing for strong organic growth. Through our successful international expansion, we have also created additional runway for growth, over and above the South African market. For example, our Australian business, Youi, now accounts for 63% of our Group revenue and it still has a significant runway for growth given that the Australian car and home insurance market is more than five times the size of the South African market. Our recent entry into Ireland is creating further runway for organic growth. Significant trends in the industry We have observed large scale technological changes enabling omni-channel servicing of clients. These channels now being digital, call center and face-to-face allowing for the level of human intervention to vary according to customer needs. We have also observed a large increase in regulatory complexity increasing the cost of compliance. Furthermore, we observed increased natural peril events putting upward pressure on reinsurance cost and premiums. Lastly, we observed an increase in competition over the last 25 years. Subsidiaries We launched in Australia in 2008 and that business has overtaken our South African business in size. Contrary to many South African businesses that struggle overseas, we have been able to build up a successful business that is now contributing materially to the overall group. It has many things in common with our South African business and we collaborate closely in many areas. We launched in Ireland earlier this year and hope to emulate the success of the Australian business. Importantly it is also a greenfield start-up like our South African and Australian businesses as this allows you to lay the right foundations in terms of people, culture, systems and processes. The only downside is that you have to be patient as it takes a long time to build such a business, but the reward is there if you are successful. Impact of technology Technology has made it easier to offer the omni-channel service. It has also enabled more accurate risk pricing as well as improved productivity in many areas. All this supports better delivery of price, service and trust. Mobile phones and large data processing capabilities really enabled step changes in some areas. Have climate change and the commensurate extreme weather events affected your business model? Yes, it has had a large impact on the claims cost related to these events causing especially home insurance premiums to escalate faster than CPI inflation. It also required bolstering of resources and digital capabilities to cope with the influx of claims that these events can cause. It also caused reinsurance costs to increase materially. Understanding flood risk and underwriting for it has become critical. It is such a topical issue and insurance alone can’t solve it. We need collaboration between governments, banks and insurers to tackle this issue to make sure that infrastructure is built and maintained to minimise the impact of these events but also that new developments do not take place in high-risk areas. How would you describe your role in OUTsurance? My primary role is to set the strategy and oversee its successful implementation. As part of this I need to get buy-in from the management teams and boards that it is the best strategy to follow. A key part of my role is also to assemble the best possible team of senior leaders to execute the strategy. Investor relations is also a key part of my role as you have to be accessible and accountable to investors to make sure they are comfortable with the strategy. What do you enjoy most about what you do? I really enjoy incremental improvement and how it brings success. The good thing about short-term insurance is that the feedback loop is quite short and as you implement plans to support the strategy and improve outcomes you can quickly see whether you are successful or not. What have been your most memorable challenges and milestones? The early days in a start-up always present many challenges and the rate of making improvements is incredibly high. The two successful start-ups of OUTsurance in South Africa and Youi in Australia are true milestones. A key challenge is to preserve that start-up culture even as you get much larger to continue to solve problems quickly and in a pragmatic way. If you do that, the business continues to thrive. Please share with our readers what you are looking forward to in the coming year. We are looking forward to ongoing incremental improvements in our offering of price, service and trust. This should continue to support the organic growth in South Africa and Australia. Our OUTsurance face-to-face agents in South Africa is also a very exciting channel allowing customers with more complex
It’s time to believe in better
By Dr Morné du Plessis, CEO of WWF South Africa Hope is life and death in equal measure. At its best it colours the day and lights up the night. At its worst, it remains an elusive hankering for something to be gifted by others. As South Africans, we know all too well how easy it is to slip into a spiral of despair and become a liability to ourselves (just think of all those solution-free conversations at social gatherings that dwell on the negatives, from loadshedding to shoddy service delivery, taxi strikes and more). Yet, South Africa is widely acknowledged for having turned calamitous predictions of a turbulent future into unmatched opportunity. Those of us who lived through the 70s and 80s know just how far we’ve come. Imperfect as our new society may be, there are few who hanker for that unequal past and many who wish we could rekindle the blossoming optimism post-1994. We have come to find ways to work around inconvenience and count ourselves lucky for what we have. Should we expect better? Of course, we must and can do better! But better will not be possible if we outsource the responsibility to others, be it government, business, or civil society organisations. Fixing the country starts with each one of us. Environmentalists are by their very nature agents of hope. Those dedicating their lives to environmental causes are profoundly accustomed to an enduring sense of doom. Every day there is more evidence, most of it about how we are knowingly destabilising our climate, dismantling our ecosystems and leaving a growing debt to nature for our children to settle. Yet hope, supported by action, is far more powerful than the strangely seductive slide into despair. Environmentalists know how to deal with relentless negativity. It is what we deal with all of our lives. We simply believe that it is possible to be better. What underpins this belief? We are surely motivated by the knowledge of our extraordinary natural inheritance and the responsibility of care that comes with it. Sometimes, just as we need reminding how far we’ve come as a society, we need reminding of just how exceptional South Africa’s natural and social endowments are. Few places on Earth can match the claims of this country as the cradle where humankind was born – from the rich early palaeontological finds of early hominids, millions of years old, to the precursors of human culture spanning tens of thousands of years. Our very essence as human beings has been shaped right here in the mountains and plains of South Africa, and in these finds it is possible to sense the origins of hope and wonder. Fewer than a handful of nations surpass South Africa in natural wealth. This wealth is the outcome of tens of millions of years during which an astonishing array of species were formed. When it comes to biodiversity, we are members of the Big League no matter which way you look at it. As an example, within our borders lies the entire exquisitely abundant and unmatched Cape Floristic Kingdom (CFK) with its thousands of species of plants, insects and animals. Compared to the world’s largest floristic region, the Holarctic Kingdom, our CFK is the size of a mouse to an elephant. Yet it is so incomparably unique that not even tropical forests can match its magnificent diversity. This knowledge should fill us in equal measure with unbridled pride and a delight of responsibility. Even though we have not even had to compete for it, our natural inheritance is all of our endowment to look after, as is our wealth in human capital. The World Cup of Nature and Humanity is in our hands. This trophy, however, is not merely a sign of extraordinary superiority, but it is our duty to keep intact. What ultimately gives me hope, of the kind that colours the day and lights up the night, are the passionate young specialists within my own organisation who embody the best of what our democracy has delivered. Their willingness to embrace change and to conquer obstacles in pursuit of a better world for people and nature is truly inspiring. As much as we are blessed with a natural bounty in this country, we too have unsurpassed human capital to match – if only we are able to harness it. If, like me, you have experienced the same wondrous uplifting emotion at the song of a chorister robin-chat at dawn or the joy of catching the strain of melodic village songs floating over the far hills at dusk, you will know that you too have skin in the game. It is us who must solve the unsolvable and conquer the insurmountable, doing the constructive deeds that we so often expect of others. With so much to play for, better is surely well within our reach. Yours in nature
Getting the best from board diversity
By Professor Parmi Natesan If it is accepted that a board’s performance is directly linked to the performance of the organisation it governs, then the board’s composition is clearly a hugely important determinant of its effectiveness. This is particularly true now that boards are in the spotlight for the quality of the decisions they make, and also now that the business environment has become so complex, and the stakeholders that need to be satisfied are so varied. In this environment, goes the argument, the insights offered by a diverse group of directors will make for better oversight and decision-making. This makes intuitive sense, but it’s also broadly borne out by research. Now-venerable research from the Boston Consulting Group’s Henderson Institute shows that companies with more diverse leadership teams report revenue from innovation that is higher than those with below-average diversity scores (45% to 26%). The same institute also showed that diversity is linked to future growth prospects. For these reasons, as well as for fairness and moral redress, the JSE Regulations require a board diversity policy to be implemented, and King IV requires targets to be set for race and gender diversity on boards. Is it genuine? Once it’s agreed that diversity is a good thing, it’s worth taking a moment to consider what it actually looks like. And here, understandably but regrettably, there remains a tendency to take the easy way out—what I call the tick-box approach, the appearance of diversity. In South Africa, and elsewhere too, diversity typically means more women (gender diversity) and more people of colour (racial diversity). Thus we hear about a “diverse appointment” being used to refer to a female or ACI (African, ‘Coloured’ or Indian) appointee, and companies proudly list the relative numbers of each on their boards and executive teams. Greater representation of both women and people of colour is obviously a good start but, as the activist investor group Barrington Capital Group argued in a 2020 paper for the Harvard Law School Forum on Corporate Governance, demographic diversity is not the same as cognitive (or experiential, for that matter) diversity. In other words, an overemphasis on demographic criteria can rob a board of the skills, industry knowledge and experience it needs. Additionally, the point is often made that this tick-box approach means that the same old names keep cropping up on boards, which means that corporates are potentially missing out on the growing pool of ACI and female candidates who are experienced and competent to serve as directors. How are we doing? So if there is a good case for diversity, how much progress has been made? The short answer would probably be “slow but steady”. When it comes to race, according to PwC’s Non-executive directors’ Practices and fees trends report (May 2023), black Africans now almost equal the percentage of white non-executive directors (47% to 44%), with Asians (5%) and ‘Coloureds’ (4%) corresponding fairly closely to national demographics. Excluding chairs, where whites continue to dominate (58%), black Africans (45% of non-executives) and whites (46%) are neck and neck for non-executive directorship positions. As far as gender goes, females now make up 38% of non-executive positions, quite a way off their representation in the broader population, where women make up 51.1% of the total population. For a deeper dive into the progress on gender diversity, reference can be made to the Business Engage report, 2021 – Status of gender on JSE-listed boards, published last year. (This report quotes the 2021 figures, which represent an improvement as compared to the previous four years unless otherwise stated.) Several points stand out. One point is reporting and disclosure—if we can’t see what companies are doing, we can’t hold them to account. Even at this late stage, 17 of approximately 296 listed companies still don’t have their governance reporting easily available on their websites, and 41 did not report specifically on gender at board level. Only 10 listed a web address for their gender policy. There has been a big decline in the number of companies that set themselves voluntary targets for gender diversity on the board (27 as opposed to 2020’s 95). All of this is unacceptable: the JSE requires listed companies to have a policy on the promotion of diversity at board level and also states that listed companies should apply King IV, which in turn requires them to set gender targets and disclose not only the targets, but also progress against them. At the other end of the scale are the 33 companies that have appointed one woman to their boards and consider that box ticked—the “one and doners”. Twenty-seven crops up again as the total of JSE-listed companies that have achieved gender parity, with a further 20 just one appointment away from this goal. As regards female non-executive directors, the Business Engage report broadly correlates with the PwC figures quoted above. It’s interesting but disheartening to note that as regards board committees, women only achieve parity representation on the social and ethics committee. At the executive level, women have a long way to go, with only 6% of listed-company CEOs and 22% of CFOs being female. In conclusion, then, I would tend to argue that while companies are making progress in becoming more diverse, it is happening rather too slowly. Given that women are graduating in greater numbers than men, and are thought to control the majority of consumer spending, one is surely forced to conclude that the undoubted benefits of true diversity have not yet been fully recognised. Professor Parmi Natesan is the CEO of Institute of Directors in South Africa