01/06/2026
On Friday, 29 May, the BMF Western Cape hosted an Africa Day Lecture which provided a thought-provoking reflection on the past, present, and future of economic transformation and leadership in South Africa.
The lecture commenced with remarks from the BMF Managing Director, who took us on a journey through the rich history of the BMF. Reflecting decade by decade from its establishment in 1976, he highlighted the organisation's significant role in shaping South Africa's transformation agenda, including its contribution to the development of Broad-Based Black Economic Empowerment (B-BBEE) legislation. He also expressed enthusiasm about the growing collaboration between the BMF and higher education institutions, emphasizing the importance of strengthening partnerships that will help develop future generations of leaders.
Delivering the keynote address, Professor Bonang Mohale provided a candid assessment of South Africa's socio-economic landscape, 32 years into democracy. He underscored the importance of leadership rooted in service, development, and meaningful human relationships, while calling on both the public and private sectors to embrace greater corporate social responsibility.
Prof Mohale highlighted challenges facing the country, including stagnant economic growth, rising inequality, persistent poverty, and unemployment. He noted that South Africa's GDP growth has remained largely stagnant since 2016, limiting opportunities for inclusive economic development. He further raised concerns about the continued underutilisation of black talent and the slow pace of economic transformation.
Addressing economic participation, he questioned the limited levels of black ownership within major sectors of the economy, including banking and retail. Referencing the history of African Bank and the untapped potential of township economies, he argued that meaningful economic emancipation requires greater investment in black-owned enterprises and broader participation in key industries.
While acknowledging the country's challenges, he pointed to the significant economic contributions of provinces such as Gauteng and the Western Cape as examples of the opportunities that can be leveraged to drive growth and development.
The lecture concluded with a robust panel discussion, where speakers explored practical pathways towards economic inclusion, entrepreneurship, transformation, and the role of institutions in shaping a more prosperous and equitable future for Africa.
Overall, the Africa Day Lecture served as an important platform for reflection, dialogue, and renewed commitment to advancing economic transformation, ethical leadership, and sustainable development across South Africa and the continent.
A heartfelt thank you to all our guests who attended the Africa Day Lecture and contributed so meaningfully to the discussions. Your insights, engagement, and commitment to the advancement of African business and leadership enriched the conversation and made the event truly impactful.
We extend our sincere appreciation to the Vice-Chancellor of CPUT for warmly welcoming us to the CPUT's Granger Bay Campus and for the powerful welcoming speech, reminding us of the critical role of higher
education in shaping a just, inclusive, and transformed society. It set the tone for an evening of meaningful dialogue and reflection.
Our deepest gratitude also goes to our sponsors, Cape Peninsula University of Technology (CPUT) , , and Cell C , for your support and commitment to creating platforms that foster thought leadership, meaningful dialogue, and the development of future leaders.
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Together, we continue to build bridges between academia, business, and society, advancing the vision of an inclusive and prosperous society.
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