After three years as chairman and non-executive director of Sasol, Sipho Nkosi stepped down on November 13, 2023, marking the end of another chapter in his illustrious career. Nkosi’s resignation stemmed from a desire to avoid any perception of conflict between his business interests and Sasol’s objectives, despite his confidence in meeting the conflict of interest requirements under South African law.
His departure was accompanied by warm commendations from his successor, Stephen Westwell, who praised Nkosi’s dedication and steady leadership. Nkosi leaves a legacy of integrity, a hallmark of his storied career that has inspired countless aspiring leaders and entrepreneurs in South Africa and beyond.
Born into a family of five, with a father who was a priest, Nkosi’s early life was marked by modesty and resilience. Raised on a farm, he learned the value of hard work early. Despite these humble beginnings, he pursued higher education, earning undergraduate degrees from the University of Zululand and the University of South Africa, and later an MBA from the University of Massachusetts Boston.
Nkosi’s career began as a graduate trainee at Ford Motor Company, where he earned a modest salary of 450 rands. His ambition soon led him to the mining sector, a decision that defined his professional trajectory. Nkosi climbed the ranks, becoming CEO of Exxaro Resources Ltd., Eyesizwe Holdings, and several other companies, cementing his reputation as one of South Africa’s foremost business leaders.
Leadership across industries
Nkosi’s influence spans multiple industries, including energy, finance, and telecommunications. He has held leadership roles at nine companies, including serving as chairman of the Small Business Institute and non-executive chairman of Talent10 Holdings. His extensive board affiliations reflect his versatility and commitment to driving growth in diverse sectors.
Despite his numerous accolades, Nkosi’s leadership has not been without controversy. In 2021, environmental concerns arose over some of his projects, sparking criticism that they endangered lives. Nkosi responded proactively, commissioning independent audits and pledging greater transparency. These challenges, he has said, were opportunities for growth and innovation.
Nkosi’s vision for South Africa extends beyond corporate boardrooms. He has championed the importance of education and entrepreneurship, frequently addressing youth and professionals alike on the value of persistence and self-improvement. “Ensure you work yourself out of a job,” he told an audience at the Unleashing Leadership Potential conference, underscoring his belief in grooming future leaders.
His passion for green energy and sustainability is also noteworthy. Nkosi has been at the forefront of Africa’s renewable energy revolution, advocating for technological innovation and environmental stewardship. His aspiration to establish business incubators further demonstrates his commitment to nurturing the next generation of entrepreneurs.
Sipho Nkosi: Lasting legacy
Though Nkosi is a public figure, he remains deeply private about his personal life. He enjoys hiking in Mpumalanga’s mountains and credits his business insights to his love of reading. His affinity for the outdoors aligns with his dedication to addressing environmental issues, a cause close to his heart.
Nkosi’s tenure at Sasol may have concluded, but his impact on South Africa’s business landscape endures. As a leader, mentor, and innovator, he has left an indelible mark on industries and individuals alike. His resilience in the face of challenges and his unwavering belief in the potential of South Africa continue to inspire.
As Nkosi steps away from Sasol, he leaves behind not just a company strengthened under his stewardship but a legacy that extends far beyond its corporate walls. His story is one of perseverance, innovation, and an unyielding commitment to excellence—a testament to what is possible with vision and determination.
