Having returned from a leadership conference in Australia, and something quite simple stuck with me.
Everything works.
Not in a superficial way, but structurally. In Perth, you can see what happens when a country gets the basics right. They’re resource-driven, like us, but when resources perform, the benefits flow through the system. There’s alignment between policy, infrastructure and execution.
It’s difficult not to compare that to South Africa.
We’ve had a favourable commodity cycle, yet it hasn’t translated into real momentum. If anything, it feels like we’ve slipped in terms of how we’re viewed globally. We used to be seen as a key player, particularly as a gateway into Africa. That’s not as obvious anymore.
What was also clear is how quickly the rest of the world is moving, particularly when it comes to how businesses are thinking about growth and efficiency.
Artificial Intelligence (AI) came up in almost every conversation. Not as hype, but as something already reshaping cost structures and how businesses operate in practice. Alongside that, cost arbitrage remains a major theme. India, in particular, continues to come up as one of the most competitive markets globally, where scale, skills and cost are all working together.
There’s also a noticeable shift towards the rest of Africa. There is genuine interest, but it’s broader now. It’s no longer assumed that South Africa will lead the conversation or the innovation. In many cases, growth rates and forward-looking prospects across parts of East and West Africa are starting to look more compelling than what we’re delivering locally.
That shift is also happening against a more complex global backdrop. Ongoing conflict in the Middle East, along with broader geopolitical tension, is influencing how capital flows and where investors are looking for stability and growth. In that context, markets that can demonstrate momentum and clarity tend to stand out.
Looking at it country by country, the picture is mixed. The US is still strong. Canada is doing well, largely off the back of that. The UK is under pressure. Eastern Europe is becoming more relevant from an industrial point of view, while Western Europe is often seen as expensive and slow to change. Even Australia, for all its strengths, is having to think carefully about its position relative to Asia.
That brings the focus back to where South Africa sits in that mix.
Whether we like it or not, we’re increasingly being grouped into a “third world” category in global discussions. That may not reflect the full picture, but perception has a way of becoming reality when it comes to investment and attention.
One area where I felt we are actually quite aligned with global thinking is the evolution of the CFO role.
The idea that a CFO has to be a full-time, permanent appointment is starting to shift. More businesses are building finance capability in a way that changes as they grow. From early-stage support, to scaling, to more complex environments, without necessarily locking into one structure.
The fractional model isn’t a stopgap. It’s becoming a deliberate choice.
It allows businesses to access the right level of expertise at the right time, rather than carrying fixed cost or making long-term decisions too early. That flexibility is a key part of our value proposition, particularly in an environment where conditions are shifting as quickly as they are now.
For me, that was probably the most practical takeaway.
The world is moving, and in many areas it’s moving quickly. The question is less about whether South Africa has the potential, and more about whether we’re adapting fast enough to stay part of that conversation.
This article is from Rowan de Klerk’s monthly LinkedIn newsletter, where he shares insights on leadership, performance, and financial strategy. Feel free to subscribe and join the conversation here