Sinenjabulo Sibeko
This past week on Kaya Biz, we engaged with influential voices across South Africa’s economic landscape from veteran CEOs and Reserve Bank leaders to strategists and creative economy analysts. It was a week of robust insight, as we explored the obstacles and prospects shaping South Africa’s growth trajectory.
We began with sobering new research from Investec revealing that South Africans are now significantly poorer than the global average. The country’s GDP per capita adjusted for purchasing power has fallen dramatically behind, signalling a long-term economic slide unless structural reforms are implemented.
We also spoke with Dr. Rashad Cassim of the SA Reserve Bank, as South Africa hosted the G20 Finance and Central Bank Deputies meetin this week. As global trade tensions rise, Dr. Cassim provided insight into what’s at stake for emerging markets especially in light of the United States’ escalating tariff policies.
From macro policy to personal leadership, we marked a momentous career milestone: Capitec’s long-standing CEO, Gerrie Fourie, officially stepped down after 25 years. In his final media interview as CEO, Fourie shares what it took to build trust at scale, navigate crises, and grow a challenger bank into a dominant player.
Here are the week’s standout stories:
1. In Conversation with Gerrie Fourie as he steps down as CEO of Capitec Bank.
After 25 years at the helm of Capitec, Gerrie Fourie is leaving behind a legacy that transformed retail banking in South Africa. In this exclusive interview, Fourie shares what it took to build trust at scale, navigate crises, and grow a challenger bank into a dominant player.
Listen to the full podcast here:
2. Are South Africa’s Boardrooms Evolving?
GUEST: Lisa Mariano, Co-author – Spencer Stuart South Africa Board Index
Despite visible gains in boardroom diversity, meaningful leadership remains male-dominated, and the pace of board renewal is slowing. We unpack key insights from Spencer Stuart’s 2024 Board Index, which evaluates governance trends across SA’s top 50 JSE-listed companies.
Listen to the full podcast here:
3. Forecourt Retail: Beyond the Fuel Pump
GUEST: Andrea Slabber – Insights Lead, Trade Intelligence
As fuel margins dwindle, SA’s forecourt retailers are reimagining their purpose. Think premium coffee, loyalty apps, fast food, and click-and-collect parcels. The latest Trade Intelligence report outlines how these once fuel-focused spaces are evolving into competitive convenience hubs.
Listen to the full podcast here:
4. Key G20 Finance Track Discussions with SARB’s Dr. Rashad Cassim
GUEST: Dr. Rashad Cassim – Deputy Governor, South African Reserve Bank
As global powers reconfigure trade dynamics, emerging economies must navigate increasingly volatile terrain. Dr. Cassim unpacks what South Africa hopes to achieve as host of the G20 finance track, particularly as tariffs return to the top of the global agenda.
Listen to the full podcast here:
5. Why South Africans are getting poorer compared to the world.
In this sobering conversation we speak to Osagyefo Mazwai, investment strategist at Investec Wealth & Investment International, about why South Africans are significantly poorer today than the global average and what can be done to reverse the slide. According to new research from Investec, South Africa’s GDP per capita adjusted for purchasing power, has fallen well below the world average, decoupling from global trends around 2010. With growth stagnating at under 1%, the economy is now 37% smaller than it should be had we kept pace with our emerging-market peers.
