Management

There is a moment in most disputes when emotion overtakes economics. Pride digs in. Letters become sharper. Threats of court proceedings follow. Yet, by the time a matter reaches trial, the real question often lingers in the background: was the game worth the candle?

After a measured few years, Mergers and Acquisitions (M&A) activity has regained momentum in South Africa. The country, in fact, led the continent in deal value in 2025. It accounted for roughly 35% of Africa’s total M&A value. Meanwhile, inbound deal value rose by over 40%, and outbound activity increased by nearly 85% year on year.

Somewhere between the third Wi-Fi troubleshooting call of the week and an unnecessary standoff over the cleaning rota, South Africa’s most capable leaders are quietly becoming something they never applied for: facilities managers. A new trend has emerged in 2026. It goes by the name of conscious unbossing. I think it is about time we embraced it locally.

Small and Medium Enterprises (SMEs) cannot grow without access to funding, and South Africa needs its SMEs to grow. What needs to change in the middle? The frame for South Africa’s economic growth in 2026 is one of modest recovery. The National Treasury’s 2026 Budget Review projects real Gross Domestic Product (GDP) growth of around 1.6%. The World Bank echoes these figures, at 1.4%, and expects growth to increase to 1.5% by 2027.

There is a pattern emerging across boardrooms that is starting to look very familiar. Executives are excited about Artificial Intelligence (AI). Budgets are being allocated. Pilot projects are being launched. Early results are often promising. Yet, despite all this activity, very few organisations are seeing meaningful, enterprise-wide impact.

Boards spend a great deal of time asking questions. They challenge strategy, review financial performance, interrogate financial statements and revisit decisions that made sense six months ago but may no longer make sense today. That is why one question stands out: "Why are executives and boards not doing the same when it comes to their cybersecurity?" My view is simple. As organisations become more digital, it becomes increasingly difficult to justify treating cyber resilience as something that sits outside regular business discussions.

The CEO of South Africa's highest-paying JSE-listed company earns more than 6,000 times the national minimum wage, according to data published by the Labour Research Service. Across the top 20 JSE-listed employers by CEO pay, every company exceeds 939 times that benchmark.

The Bogdanov ruling is not a story about one director. It is a test of whether South African companies can detect dishonesty before it reaches the boardroom. On 1 June 2026, the Financial Services Tribunal dismissed an application to overturn sanctions against a former independent non-executive director of a JSE-listed technology group. The Tribunal upheld the JSE's decision.

In many organisations, the monthly reporting cycle still follows a familiar pattern. Finance teams close the books, extract data from multiple systems, reconcile discrepancies and consolidate figures across entities. They then check reports, make adjustments and eventually compile a board pack.

Small and Medium Enterprises (SMEs) are undeniably the lifeblood of South Africa's economy. They represent 91% of businesses in the formal sector and employ roughly 60% of the country's workforce. Yet, the entrepreneurial landscape remains notoriously harsh. More than 70% of South African SMEs fail between their first and fifth years.