Leaders should make integrity-driven choices even when faced with pressure and in times of crises.
This is according to Financial Sector Conduct Authority (FSCA) commissioner Unathi Kamlana, who was delivering his keynote address at the 11th annual Archbishop Thabo Makgoba Development Trust lecture at Rhodes University in Makhanda on Thursday.
The event was held in celebration of Rhodes Business School’s 25th anniversary.
“History has shown us, time and again, from financial crises to corporate scandals here at home, that when value is pursued without values, the outcome is not prosperity but destruction,” Kamlana said.
“Our changing world is testing leadership more than ever before.”
He said the challenges were vast and ranged from geopolitical tensions, technological disruptions, climate risk, social inequality and political instability.
“In such a context, leadership cannot be reduced to chasing profits.
“It must be anchored on something deeper, and that is, putting people first, and balancing innovation with inclusion, efficiency with fairness, and growth with sustainability,” he said.
Kamlana, a Rhodes alumnus, was appointed as FSCA commissioner by former finance minister Tito Mboweni in April 2021, commencing his duties in June that year.
The FCSA’s duties include ensuring financial institutions are accountable for their actions, promoting a socially responsible and inclusive financial system and fostering confidence in the financial sector.
Kamlana said media headlines often referred to artificial intelligence and other technological innovations replacing certain job categories.
These tools had promised to make businesses and governments more efficient in delivering products and services.
In the financial sector, he said technology had expanded access, enhanced efficiency and increased profits.
“But these advances raise difficult questions about customer protection and the broader human impact of technological change,” Kamlana said.
However, this did not suggest that technology was inherently harmful and should be resisted.
“I’m not advocating for Luddism — the movement that opposes new technologies.
“I’m fully in favour of embracing technology and innovation.
“But — and this is an important but — it must be done responsibly.
“By that I mean technology must be adopted in a way that protects jobs where possible, ensures inclusion rather than exclusion, guards against exploitation, and places fairness and integrity at the centre of innovation.”
The Herald
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