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Image: Ron
As the Institute of Directors South Africa (IoDSA) officially launched King V on 31 October, Siva Padayachee, Head of GRC & Business Assurance at fintech leader e4, believes the new code will strengthen rather than redefine corporate governance in the country.
“From a technology governance perspective, much will stay the same,” Padayachee told EBNet.
“The King Code has evolved substantially, becoming easier to interpret and implement. We saw a big leap between the first and third iterations, but the transition from King III to King IV was smoother, and King V follows that same steady evolution.”
Still, Padayachee noted that King V takes a more deliberate stance on governance in the era of Artificial Intelligence (AI).
“While South Africans love a buzzword, AI is more than that; it’s reshaping how we operate. With that comes a real need for clearer guardrails,” he noted.
“These boundaries are especially important when managing contractual obligations and maintaining trusted client relationships.”
He emphasised that responsible data use remains central to e4’s governance philosophy.
“If a client entrusts us with their information, we have a duty to ensure it isn’t exposed online or processed through free, public AI tools. That kind of risk could not only compromise data security but also the trust we’ve worked hard to build,” he said.
“I anticipate King V will encourage greater adoption of private or closed AI models as a governance safeguard. e4 already follows this approach, but many others still don’t.”
Beyond AI, Padayachee believes King V reinforced the importance of reputational risk.
“As technology providers, we must demonstrate that we are responsible and competent custodians of technology,” he said.
“Our adoption of new tools must be intentional, driven by purpose, not hype.”
To embed this mindset, e4 has formed an internal oversight committee dedicated to promoting responsible technology use across the organisation. “It’s a long-term journey, but cultural shifts like this can’t wait,” Padayachee noted.
“Through this committee, we’re defining standards, embedding governance, and nurturing a culture of accountability and responsible innovation.”
The committee meets twice a year, with the next session set for March 2026.
Padayachee is optimistic about the road ahead: “Governance and innovation aren’t opposing forces—they’re partners. Together, they enable sustainable, ethical progress.”
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