BN Edge | Sygnia’s founder Magda Wierzycka says it’s time for the firm to reinvent or vanish

Loading player...
A week before Sygnia shareholders vote on an expanded share incentive scheme, Magda Wierzycka was not playing defence. Responding to a Financial Mail report that cast the plan as an enrichment scheme, she told Alec Hogg it was about holding on to a long-serving executive team and being able to hire a CFO, or a successor CEO, at today's market rates. Then she went further. With 30 days' notice and no restraint of trade, she said a weak vote would leave her asking whether she still wants to work for other shareholders, at a time when she believes stakes in private giants like Anthropic, OpenAI and SpaceX can make her more than Sygnia has in 20 years. She also said the dispute with former partner Andre Crawford-Brunt was settled, previewed a fund giving South African investors access to those companies, and warned that every division at Sygnia would have to be rebuilt for the AI era.
16 Oct 9AM English South Africa Investing · Business News

Other recent episodes

Preloved boots give Eastern Cape township rugby a boost

Across the Eastern Cape, boys and girls run onto rugby fields in their school shoes or a pair of tekkies. Lincoln Mali, founder of the Mzwandile Mali Schools Rugby Champions League, tells BizNews how a visit by businessman Paul Gardiner to Kwanobuhle township led to Boots for Boys and Girls,…
6 Nov 7AM 15 min

Solly Moeng: Mashaba and Zille, MK's rise, FF Plus, Malema

One day after the Local Government Elections in South Africa, in this interview with Chris Steyn - just after four o'clock and with 43% of the results in - political commentator Solly Moeng says Action SA leader Herman Mashaba and his party leadership need to listen to calls from voters…
5 Nov 11AM 26 min

BizNews Ricardo Portfolio update: Palantir, Uber, Lesaka, and Exemplar

Four companies BizNews owns reported in the same week, so Alec Hogg went back to his own valuations to see whether they still held. Palantir nearly doubled its revenue and its chief executive declared his intent to take "the entire market", yet one number nagged at Alec. Uber delivered a…
5 Nov 10AM 41 min