“Shareholder capitalism” or an all-inclusive stakeholder model

This chapter explores some of the unique aspects of South African company law and its approach to corporate governance. It is shown that by adopting the all-inclusive stakeholder approach South Africa has been ahead of many other jurisdictions. The focus in the United States has shifted to a more stakeholder-orientated approach since about 2017. This chapter concludes that no fundamental change in South African company law or corporate governance models is required. It is recommended that in future the focus needs to be on ensuring that South African corporations adopt the approach in South African legislation and the King Reports and that all stakeholders work together to ensure a long-term and sustainable future for South African corporations.