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BY Michael Katz , Madison Liebmann , Matthew Morrison AND Sinovuyo Damane
Corporate Governance 2026 | Global Practice Guides | Chambers and Partners
Michael Katz, who serves as this year's global editor, together with Matthew Morrison, Madison Liebmann and Sinovuyo Damane as contributing editors, share their perspectives on the evolving corporate governance landscape in South Africa and globally, contributing the introduction and the South Africa chapters to the Corporate Governance Guide 2026.
The Corporate Governance Guide 2026 arrives at a pivotal moment for boards, directors and governance professionals. In an era defined by geopolitical fragmentation, accelerating technological disruption and enhanced regulatory focus, effective governance is now more of a strategic imperative than ever. ENS is proud to have contributed the guide's cross-jurisdictional introduction as well as the South Africa Law and Practice and Trends and Developments chapters, offering a global overview and an in-depth examination of the South African governance framework.
Our introduction identifies five central themes shaping corporate governance worldwide in 2026: the ongoing reform of governance codes and listing standards; the governance of artificial intelligence; the impact of shifting political landscapes on ESG; the heightened focus on geopolitical risk in board-level oversight; and the intensification of global sanctions, anti-money laundering and beneficial ownership transparency requirements.
In the South African context, our chapters examine a range of key reforms. The King V Report on Corporate Governance, effective for financial years beginning on or after 1 January 2026, represents the most significant update to South Africa's governance code in nearly a decade. It dedicates particular attention to the governance of data, information and technology, requiring organisations to apply principles of ethics, accountability, transparency and fairness to AI use. The Companies Amendment Act 16 of 2024 has introduced far-reaching changes, including provisions on executive remuneration policy and reporting that came into force on 22 May 2026, requiring public and state-owned companies to prepare a remuneration policy for shareholder approval and to present remuneration reports at annual general meetings. The JSE's simplification project, effective from January 2026, has introduced mandatory fit-and-proper assessments for prospective directors, enhanced shareholder oversight of executive remuneration and expanded directors' declarations.
Our Trends and Developments chapter examines five themes shaping South African corporate governance. It considers the governance of technology, data and artificial intelligence, where, as South Africa does not yet have dedicated AI legislation, King V's Principle 10 serves as the principal governance standard for listed companies under the JSE Listings Requirements, which oblige issuers to adopt King V on an apply-and-explain basis. It analyses the evolution of ESG, from the Climate Change Act 22 of 2024 and its mandate for sectoral emission targets and carbon budgets, to the transition risks posed by the EU's Carbon Border Adjustment Mechanism and the enhanced role of social and ethics committees under the Companies Amendment Act. It addresses the rebuilding of institutional integrity following state capture, including South Africa's removal from the FATF grey-list on 24 October 2025, legislative reforms to strengthen anti-corruption frameworks, and the institutional dynamics created by the Government of National Unity. It also considers the heightened geopolitical risks confronting South African boards, where trade headwinds with the United States, the country's positioning within BRICS and its role as the first African G20 host demand that geopolitical risk be treated as a minimum governance standard.
The Law and Practice chapter provides a comprehensive guide to corporate governance in South Africa, covering corporate forms, directors' fiduciary duties, shareholder rights and claims, corporate reporting and disclosure obligations, audit and risk management, ESG requirements and the emerging legal considerations surrounding AI use and board liability.
We invite you to read our full chapters and explore the guide for valuable perspectives on corporate governance in 2026:
Corporate Governance 2026 | Global Practice Guides | Chambers and Partners
