Born around 1971 in Meadowlands, Soweto, Phuti Mahanyele‑Dabengwa grew up in townships and later Claremont (Durban).
At 17, her mother’s early death became a pivotal turning point, instilling in her a sense of purpose and urgency.
She left South Africa for college at Rutgers University, graduating in Economics in 1993, followed by an MBA from De Montfort (1996) and executive training at Harvard’s Kennedy School in 2008.
Her career began at Fieldstone in New York in 1993, where she became Vice President before transferring to its South African office. She then served as Head of Project Finance at the Development Bank of Southern Africa
In 2004, Phuti joined Shanduka Group as MD of its Energy division and rose to CEO by 2008.
Over a decade, she spearheaded major deals—opening franchising partnerships with Coca‑Cola and McDonald’s—and grew the company’s net asset value to around R8 billion.
In 2015, she left to co-found Sigma Capital, a majority-black-owned investment firm focusing on infrastructure, consumer goods, and tech, serving as Executive Chairperson.
In July 2019, Phuti was appointed CEO of Naspers South Africa — the first black woman to lead this JSE top‑40 company.
Under her leadership, Naspers has emphasized digital transformation and an AI-first mindset.
In April 2025, she joined Naspers’ board as executive director and is set to join Prosus’ board, strengthening the conglomerate’s governance and global presence.
Phuti is deeply committed to youth empowerment. She mentors through the World Economic Forum’s Dignity Day initiative and acts as patron for organizations like the National Education Empowerment Trust and Bosele Foundation.
She has visited schools such as Modilati Secondary to promote dignity and aspiration among learners.
Phuti has been recognized as one of the Wall Street Journal’s “Top 50 Women in the World to Watch” (2008), was awarded Forbes Woman Africa Business Woman of the Year (2014), received CNBC Africa’s AABLA Woman of the Year (2019), and was selected as a Global Young Leader by the World Economic Forum in 2007, serving as a patron in various international youth and business forums.
She currently holds board positions at Vodacom, Discovery Insure, Gold Fields, Microsoft 4Afrika advisory, and Cyril Ramaphosa Foundation.
Phuti’s leadership is reshaping Africa’s business landscape—she champions inclusive growth, digital innovation, and sustainable investment.
As Naspers and Prosus steer toward AI-first strategies under her guidance, and as she continues to empower the next generation, her influence will resonate across the continent.
Image Credit: The South African
