South Africa’s Leadership Transitions: Key CEO Appointments in 2025

South Africa’s corporate sector is experiencing a wave of leadership changes in 2025, with major companies across banking, finance, mining, aviation, and telecommunications appointing new chief executives. These transitions mark an important moment for business as institutions adapt to shifting markets, economic pressures, and the need for innovation.

Banking and Finance: New Directions for Growth

• Absa Group announced the appointment of Kenny Fihla, former CEO of Standard Bank South Africa, as Group CEO effective 17 June 2025. Fihla brings extensive banking experience and is expected to focus on strengthening Absa’s market share and digital transformation strategy.
• At the Public Investment Corporation (PIC), Patrick Dlamini took over as CEO on 1 June 2025. Having previously led the Development Bank of Southern Africa, Dlamini brings a development-focused perspective to the PIC’s role in managing government employees’ pensions.
• Capitec Bank will see a historic transition in July 2025 as founding CEO Gerrie Fourie retires after more than 20 years. He will be succeeded by Graham Lee, head of Capitec’s retail banking division, ensuring continuity and stability for South Africa’s fastest-growing bank.

Mining and Energy: Experience at the Forefront



Exxaro Resources appointed Ben Magara, a respected mining executive and former Lonmin CEO, as its new leader effective 1 April 2025. His appointment comes at a pivotal time as Exxaro balances its coal business with increasing investment in renewable energy and sustainable mining practices.

Telecommunications: Realignment at MTN South Africa

MTN South Africa announced that Ferdi Moolman, currently Group Chief Risk Officer, will assume the CEO position on 1 November 2025. He succeeds Charles Molapisi, who will transition to a new role as Group Chief Technology and Information Officer, reflecting MTN’s commitment to technology-led growth and customer experience.

Aviation: SAA’s Recovery Path

In February 2025, Prof. John Lamola was confirmed as Group CEO of South African Airways (SAA). His appointment is intended to strengthen leadership at the national carrier as it continues to rebuild its operations and reputation following restructuring efforts.

Professional and Industry Bodies

Leadership changes also extended to professional organizations:

• Compliance Institute Southern Africa (CISA) appointed Sherma Malan as CEO effective 1 August 2025, focusing on strengthening compliance standards across industries.
• Business Unity South Africa (BUSA) welcomed Khulekani Mathe as CEO in January 2025, following Cas Coovadia’s retirement. Mathe is expected to continue BUSA’s role as a key voice for business in national policy discussions.
• Looking ahead, KPMG South Africa announced that Joelene Pierce will become CEO effective 1 March 2026, succeeding Ignatius Sehoole.

Lottery and Gaming

After completing her tenure as CEO of 4Racing in May 2025, Fundi Sithebe joined Sizekhaya Holdings as a non-executive director. The consortium recently secured South Africa’s Fourth National Lottery License, marking an important development in the gaming industry.

2025 is proving to be a year of renewal in South African leadership. Across sectors, companies are turning to a mix of seasoned veterans and homegrown successors to steer their organizations into the future. These appointments highlight the emphasis on stability, continuity, and transformation, as South Africa’s corporate sector adapts to an evolving economic landscape.

From banking boardrooms to mining operations and national carriers, the incoming leaders will be tasked with not only sustaining profitability but also positioning their organizations for long-term growth and resilience.

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