SA’s Wealthiest Woman, Magda Wierzycka, Set to Return After Extended UK Tax Residency
- Sygnia CEO Magda Wierzycka will return to South Africa after maintaining tax residency in the United Kingdom for seven years
- The revelation was detailed in the company's 2025 CEO report and published in a local publication, The Daily Investor
- The report detailed Sygnia's exceptional performance, including R1.06 billion in revenue and R461.2 billion in Assets under management (AUMA)
Source: Facebook
Sygnia CEO and founder Magda Wierzycka has ended her seven-year tax residency in the UK and is returning to South Africa, citing global polarisation and the accelerating race for AI dominance as key factors, although recent UK tax changes played a role. The revelation was included in her 2025 CEO report, detailing Sygnia's strong performance, which saw profit after tax rise 10.4% to R383.2 million, and outlining her vision for local reform.
The financial services veteran, who has nearly three decades of experience and founded the innovative Sygnia in 2006, explained that her decision stems from a drive to make a significant impact by transforming domestic challenges into opportunities. Her long history in the sector saw Sygnia gain prominence for pioneering index-tracking funds (Itrix) and thematic funds, challenging the dominance of traditional advisory-led asset management.
The corruption challenge and a mixed bag of changes
Magda observed that upon her return, the country presented a mixed bag. She noted that corruption had become institutionalised and described evidence heard at the Madlanga Commission Inquiry as brutal. Despite the seriousness of these issues, she maintains a balanced view of the country’s path, despite challenges such as corruption. The Daily Investor reports that Magda stated in her report: “On balance, South Africa has changed; some of it for the worse, but some of it is creating new opportunities.” She said she believes she can effect the most significant change by advocating for necessary reforms and increasing local access to global financial markets.
Source: Facebook
The urgent call for venture capital investment
In her analysis of the local economy, Magda identified the absence of a viable venture capital (VC) industry as the most critical missing element, particularly given South Africa's young population. She emphasised that VC is important for job creation and driving economic growth, as it provides small, founder-led businesses with capital, skills transfer, and professional business frameworks. To foster this innovation, Magda suggested a radical policy change: requiring retirement funds to invest even 1% of their assets into venture investments, matched rand for rand by the government.
5 Briefly News articles about rich people
- A millionaire openly shared his unique financial philosophy, explaining why he drives an older car with a fat bank account, impressing many social media users.
- A billionaire's daughter living in the UK had social media buzzing after sharing that she didn't have to work a day in her life, aspired to marry an equally rich man, and live happily.
- A wealthy 73-year-old man from England asked one of his younger staff members to help him create a Tinder profile, hoping to find a woman to marry and give him an heir.
- A rich woman from Gqeberha bragged about her fully paid house while going to her estate entrance to open for renovators who had come to do some work.
- A pensioner from the Western Cape became a millionaire overnight after winning big in the Lotto Plus 1 jackpot on April 23, 2025.
Source: Briefly News
