Business wisdom from Magda Wierzycka

Magda Wierzycka built Sygnia from nothing into a R350+ billion asset management empire. Her journey from communist Poland to one of Africa’s most powerful businesswomen proves that anything is possible with principle, persistence and courage.

Stop waiting for the perfect moment to lead. I wasn’t a natural leader at my first job – I made mistakes, struggled with difficult teams and learned the hard way. Leadership develops through experience, failure and a willingness to change.

The biggest trap? Believing you can do everything better and faster yourself. There’s zero scalability in a one-person show. When I finally learned to delegate and cooperate, my business thrived. Surround yourself with people who share your values and – crucially – have a sense of humour.

Come forward with the truth and solutions immediately. Don’t wait for someone else to expose your mistakes. In my company, I assume someone is making an error at any given moment – that’s human nature. The problem isn’t the error itself; it’s finding innovative ways to correct it.

The internet gives you information, but it doesn’t give you understanding. Travel, interact with different cultures and learn to problem-solve on the spot. I’ve drawn countless lessons from our family travels that I later applied to boardroom decisions. Understanding different economies and beliefs is essential for sound business judgement.

Independence is everything. I started Sygnia with six people in a room, funded by my mortgage bond – no family money or business backers. When you don’t owe anyone anything, you can speak truth to power and make decisions based on your own judgement.

Simple rule: build your business model on transparency and low fees. This isn’t just good ethics – it’s a good business practice that builds long-term client trust and sustainable growth.

True leadership means being willing to do any job yourself. Stay calm when others panic, come up with solutions rather than joining the chorus of complaints, do what no one else wants to do. Leadership is about maintaining composure and taking responsibility, even if the mistake is not yours.

When I had two weeks to sell African Harvest, I’d never done a corporate transaction in my life. But I learned quickly on the job. Take on tasks no one else wants to do. Don’t wait until you’re “ready” – you’ll learn by doing.

You don’t need to quit your job to run your own business: aim to run your own business unit within a large corporation. Change your mindset, put up your hand and take on responsibilities. Use corporate time to learn the basics that cut across every business.

When you imitate, you’ll only ever be second in line. There will always be someone bigger, with a bigger budget, who did it first. Put crazy, creative ideas on the table. Don’t be scared of being different – be scared of being ordinary.

Hire for work cultural fit above all else. Skills can be taught, but a work-culture mindset cannot. Find like-minded people who share your work values and approach. The wrong cultural fit will poison your team, no matter how talented they are.

Don’t just be driven by profit – be a force for good. This doesn’t mean you can’t make money. Profits are important, but purpose gives your business deeper meaning and stronger foundations.

Being an immigrant, a refugee, an outsider – these aren’t weaknesses to hide. They’re sources of resilience and perspective that others don’t have. I arrived in South Africa speaking no English, having lived in a refugee camp. That experience taught me to work harder – something that can never be replaced.

When I couldn’t speak English, I communicated through maths and science. In business, find your universal languages – be they data, results, integrity or something else. These transcend cultural barriers and prove your worth when words aren’t enough.

From a 60-square-meter communist apartment where everyone had the same things to building a R350 billion company – never forget that starting with nothing is an advantage. You learn to value every opportunity and fight harder than those born into comfort.

My grandmother was the strongest woman I knew. She’d take me by the hand and say “You can be whatever you want to be.” Find that voice – whether it’s from family, mentors or within yourself – that reminds you that you’re as good as anybody and can achieve anything.

South Africa welcomed me as a refugee and gave me everything. Part of my motivation in building Sygnia was to improve financial literacy and provide low-cost products. When a country gives you opportunity, your success should benefit that country in return.

Yes, I have a treadmill obsession. And a handbag obsession. So what? Your quirks make you human. Don’t try to be perfect – people connect with authenticity, even if it includes confessing to your shopping addictions and exercise habits.

The financial services industry attracts aggressive people fighting over bonus pools like sharks over chum. You need team members who can see the absurdity of it all and still get the job done. If they can’t laugh at the corporate circus, they’ll become part of it.