SARS boss sends a personal message to South Africa’s richest woman

Sygnia CEO Magda Wierzycka said she received a personal “welcome back” message from SARS boss Edward Kieswetter upon her return to South Africa in 2025. 

Wierzycka returned to South Africa in 2025 after spending seven years as a resident of the United Kingdom out of concern for her safety and to launch a private equity firm, Braavos Investment Advisers. 

The return of South Africa’s richest self-made woman was first announced in Wierzycka’s Sygnia CEO report for the 2025 financial year, released in December 2025. 

Wierzycka explained that she returned due to a combination of tax changes in the UK that made it uninvestable and renewed optimism about South Africa’s future. 

“The UK is uninvestable because you have a socialist government where, instead of working, people receive social benefits greater than most wages,” Wierzycka told Conversations with Lelethu. 

“They have withdrawn from the European Union, and so, the economy is spiralling downwards. You have a country with one of the highest tax burdens in the world, and through changes, they have chased away wealthy people.” 

Wierzycka said that, with these changes, she became increasingly critical of the UK as a place to live and as a country serious about attracting wealth and growing its economy. 

“It is not only about people who are leaving. It is also about the people who are not coming, because they take one look at this tax regime,” Wierzycka said. 

“Your inheritance tax, when you die, is 40%. So, here you are, you have your children, and you have worked for your money and paid taxes on it. Now, you give up almost half of your life’s savings to the government instead of your children.” 

This pushed Wierzycka to want to leave the UK. However, she is clear that those are not the only reasons, with South Africa proving highly attractive at the current point in time. 

Wierzcyka also pointed out that Sygnia is growing into a huge company, requiring more of her time and resources. 

“Sygnia, as a company, is growing and growing and growing. I wanted to assume stronger leadership. There is a lot to be done,” Wierzcyka said. 

“South Africa is looking more positive economically. There are so many opportunities here. I wanted to come back and see what else we can do.” 

Wierzycka also noted that her parents still live in South Africa and that, while it was her dream to work overseas, she has fulfilled that dream and would now prefer to be at home. 

Welcome back

The return of Wierzcyka to South Africa, one of the country’s richest people, is a vote of confidence in the local economy. 

Wierzycka is one of the country’s largest individual taxpayers and is what analysts call a “rainmaker”, given the businesses she has started and the wealth she has generated. 

Her company, Sygnia, has also grown from just six people in a room to employing over 350 people. It has also created significant wealth for its shareholders. 

This positive impact has been noted by South Africa’s authorities, which resembles a broader shift from within the government as it slowly recognises the need for private-sector expertise and the role of companies in growing the economy.

Wierzcyka revealed that she received a personal message from SARS boss Edward Kieswetter welcoming her back, indicating that he understands the importance of these “rainmakers”.

“I got a WhatsApp from Edward Kieswetter, who is the head of SARS, to say, ‘Welcome back’,” Wierzcyka said. 

Some of South Africa’s largest taxpayers have bemoaned the experience they receive at the hands of SARS, claiming the revenue service harasses them rather than appreciating the significant tax contributions they make. 

Billionaire Johann Rupert said in 2018 that SARS does not treat business leaders with the respect and appreciation they deserve. 

He revealed that in Switzerland, where his luxury goods company, Richemont, is based, he has a good relationship with the tax authorities.

“In Switzerland, I got a letter of ‘Thank You’ from the taxman,” he said during Power FM’s Chairman’s interview in 2018.

“SARS harassed me for eight years. So, unlike what your friend with the red beret said, I am ‘influential’ in SARS. No, it is the opposite,” Rupert said.

Kieswetter’s personal message to Wierzycka indicates that the revenue service may now be appreciating the contributions of large taxpayers and business leaders in South Africa. 

The country has one of the most concentrated personal income tax bases in the world, with just 2.4% of South Africans paying 77% of all personal income tax in the country. 

This means that just over 1.5 million people out of the broader population pay R562 billion worth of personal income tax in South Africa.