Vodacom Appoints Former JSE CEO Leila Fourie as New Chair Ahead of Board Succession
Fourie's extensive experience in financial services will support Vodacom's growth as she transitions into her role.
The Full Story
Vodacom Group has taken a significant step in its governance structure by appointing Leila Fourie, ex-CEO of the Johannesburg Stock Exchange (JSE), as an alternate director on its board. This appointment will take effect from 9 October 2026, positioning Fourie to become a full board member upon the retirement of current chairman Saki Macozoma in July 2027. This strategic move gives Fourie nearly a year inside Vodacom’s governance frameworks, allowing her to become acclimatized prior to officially taking up her seat.
Leila Fourie led the JSE from October 2019 until her retirement on 31 March 2026. During her tenure, she was credited with enhancing the earnings quality of the exchange, diversifying its revenue profile, and modernizing core technologies and regulatory frameworks. Fourie has also held significant positions in other financial institutions, such as the Australian Payments Network and Standard Bank Group, lending her a wealth of experience that Vodacom hopes to capitalize on.
Fourie’s experience aligns perfectly with Vodacom's increasingly important fintech operations, which have seen remarkable growth. By the end of the fiscal year 2026, Vodacom's fintech services had amassed 103 million active customers, facilitating transactions worth a staggering US$525.6 billion and generating substantial revenue of R16.8 billion, amounting to 12.6% of the company’s overall service revenue. Vodacom's CEO, Shameel Joosub, has set ambitious targets, increasing the aim for financial services customers to 130 million by 2030, up from the previous goal of 120 million.
In South Africa, the company's innovations include the VodaPay platform, which incorporates various financial services alongside insurance and lending options, boasting 15.3 million users as of the last fiscal year. This new appointment is part of a broader board reshuffle at Vodacom driven by a self-imposed 10-year cap on board tenure. Saki Macozoma will reach this limit in July 2027 after joining the board in July 2017.
Khumo Shuenyane, the lead independent director, is anticipated to take over the chair position immediately after Macozoma’s departure. Fourie's rise is synergistic with this leadership transition. The company has also confirmed the appointment of Segun Ogunsanya, the former CEO of Airtel Africa, as an independent non-executive director, effective 9 October 2026.
This follows the departure of Phuthi Mahanyele-Dabengwa, CEO of Naspers South Africa, just a day earlier. The board emphasized that Fourie has passed a fit-and-proper assessment per JSE listing requirements, paving the way for her influential role at Vodacom. Vodacom continues to evolve and expand, particularly in its financial services domain, which is increasingly becoming a cornerstone of its business strategy, aiming to enhance its market position under Fourie’s expected guidance and expertise. As the telecommunications landscape evolves, the inputs from seasoned industry leaders like Fourie are sure to contribute positively to Vodacom’s future growth and stability.
Why It Matters
Leila Fourie’s appointment marks a key evolution in Vodacom's governance, aimed at strengthening its leadership as fintech operations grow significantly. Her experience will be crucial to navigate the complexities of the expanding financial services sector.
What's Next
Vodacom plans to implement its Vision 2030 target to increase its financial services customer base. With significant board changes, the company is poised for strategic growth in the coming years under new leadership factions that include experienced professionals.