Business Leadership South Africa (BLSA) recently announced the appointment of the new Board of Directors following a three-year tenure, with Discovery CEO Adrian Gore now included.
BLSA is an independent association whose members include leaders of some well-known South African companies, including Capitec, Discovery, FirstRand, Multichoice, and MTN.
“Through BLSA, South Africa’s business leaders engage key players in South African society, including government, civil society and labour, to exchange ideas in our national interest and to create effective dialogue,” said BLSA.
Outgoing board members include the former group chair, Nonkululeko Nyembezi, former JSE CEO Leila Fourie, former Sibanye-Stillwater CEO Neal Froneman, PWC South Africa CEO Shirley Mashaba, and Africa Regions and Offshore Chief Executive Lungisa Fuzile.
“As this Board concludes its term, it does so at a moment where the country is beginning to turn the corner—with a more stable, more predictable, and increasingly enabling trading environment,” said BLSA.
“That is a significant achievement, and one to which this Board has materially contributed.”
BLSA said the outgoing members had made significant contributions and played a pivotal role in shaping the group’s achievements during an important time for the country.
“As we move into this next phase, I am happy to confirm that BLSA and its members will continue to benefit from the wisdom and strategic guidance of those members of the previous board who have accepted re-election,” the group said.
The new board, which will be led by Discovery CEO Adrian Gore as the new board Chairman, includes the following members:
- Adrian Gore, Discovery Group Founder and CEO
- Kenny Fihla, ABSA Group CEO
- Phuthi Mahanyele-Dabengwa, Naspers and Prosus SA CEO
- Daniel Mminele, Nedbank Group Chairman
- Valdene Reddy, JSE Group CEO
- Vivienne McMenamin, Mondi South Africa CEO (reappointed)
- Adrian Enthoven, Yellowwoods Executive Chairman (reappointed)
- Nolitha Fakude, Anglo American South Africa Chair (reappointed)
- Shameel Joosub, Vodacom CEO (reappointed)
- Michael Katz, ENS Chairman (reappointed)
- Bonga Mokoena, BDO South Africa CEO (reappointed)
- Busisiwe Mavuso, BLSA CEO
Discovery’s financials
Finance group Discovery has reported a significant profit increase in its interim results, with headline earnings rising by 29% to R5.7 billion for the six months ending December 2025.
This period also marked a major milestone for the group’s banking unit, Discovery Bank, which achieved a normalised profit of R75 million for the first time, recovering from a loss of R145 million in the prior period.
Discovery South Africa experienced a 19% growth in normalised profit from operations, indicating a strong contribution from each of its businesses in the country.
The global behavioural unit, Vitality, reported a 41% increase in normalised profit from operations, reflecting the restructuring of its global activities.
Discovery noted that growth in headline earnings was driven by the group’s improving financial leverage ratio, which led to lower finance charges.
The normalised return on equity rose to 17.4%, up from 15.4% in the previous period.
The group declared an interim dividend of 111 cents per ordinary share (88 cents net of dividend withholding tax), sourced from the company’s income reserves.
Despite an increasingly complex environment marked by geopolitical and trade tensions, Discovery reported strong performance.
“In the period under review, economic growth remained below potential in many regions in which the group operates,” it said.
“However, easing interest rates supported an improved backdrop for investment markets.”
Specifically in South Africa, constructive collaboration between private and public enterprises in key areas of service delivery and improved terms of trade has supported the emergence of green shoots in the economy.
