South Africa’s richest woman is back home

South Africa’s richest woman, Sygnia founder and CEO Magda Wierzycka, has returned to the country after spending seven years as a resident of the United Kingdom. 

Wierzycka founded Sygnia in 2006 with R2 billion in assets under management after she negotiated the sale of African Harvest Fund Managers to Cadiz Financial Services.

The company has enjoyed immense growth since then, becoming one of the largest asset managers in the country with assets of over R460 billion.

While Sygnia is fundamentally a South African business and listed on the JSE, it has global operations that run out of the United Kingdom. 

In 2017, Wierzycka moved to London out of concern for her safety after her criticism of the infamous Gupta family’s influence over the South African government and her eventual role in exposing the extent of State Capture in the country. 

During her time in London, Wierzycka remained involved in running Sygnia as its co-CEO and launched a private equity firm, Braavos Investment Advisers.

Wierzycka owns around 90 million shares in Sygnia, which is over half of the company’s total issued shares. The company is valued at R5.4 billion on the JSE.

Wierzycka announced her return in her CEO’s report for the 2025 financial year, released in December 2025, and has now officially moved back to the country.

In an interview with Rapport, Wierzycka explained why she has returned to the country after seven years of living in the United Kingdom. 

“In a very simple way, why South Africa? Because I think South Africa has a huge smile on its face relative to the rest of the world, which does not look that happy,” Wierzycka said. 

“With the global chaos we are experiencing, I really feel that there is nothing more at stake than in this moment now and that we do have a global community that comes together, including South Africa, that acts as one.” 

Why Wierzycka is returning 

Wierzycka outlined further reasons for her return in her CEO’s report in December 2025, addressing questions about whether she is doing it purely for tax reasons.

“After over seven years with one foot in the United Kingdom and one in South Africa, I am moving back to the country I call home,” Wierzycka said in her report.

“While recent tax changes in the UK certainly played a role, they are not the only reason. The world has become deeply polarised – not only due to shifting geopolitical forces but also because of the accelerating race for AI dominance.”

“These seismic shifts in the global order force us to rethink where we can still make a meaningful difference. More than ever, it is about choosing a place where the challenges we face can be transformed into opportunities.”

Wierzycka also explained that she feels she can make a significant contribution to South Africa and, in some ways, shape its future. 

“On my return, I have again turned my focus to the South African political and business environment, finding what can best be described as a mixed bag,” Wierzycka said.  

“No one can deny that corruption has become an institutionalised way of doing business. Listening to the Madlanga Commission has been brutal, unlike anything we have heard about from the State Capture years.” 

“This is no longer white-collar crime – these are crimes committed for personal gain at the expense of the physical safety of most South Africans.”

Wierzycka also made it clear in her report that her time living in London was not a complete waste of time, as it added to her vast experience in financial services.

“Having now lived and experienced more, I can also see some of the things we are missing. The most glaring gap is the absence of a real venture capital industry in South Africa, despite having one of the youngest populations in the world,” Wierzycka said.

Venture capital is a vital addition to South Africa’s sophisticated financial system, which has been described as overly cautious. Capital of this kind will introduce more risk, with the potential to create new businesses in the country. 

Wierzycka explained that these venture capital funds could also give founders more than capital – they could offer skills transfer, help build proper business frameworks and bring in professional advisors with a true global reach. 

“These are the things that help innovation thrive. Imagine the benefits of a world where retirement funds are required to invest even as little as 1% of their assets into venture investments, with the government matching them rand for rand,” she said. 

“On balance, South Africa has changed – some of it for the worse, but some of it is creating new opportunities. From a personal perspective, I am pleased to be back.”