Discovery CEO Adrian Gore says South Africa at critical turning point   

South African businessman Adrian Gore says the country has reached a decisive moment, pointing to a marked shift in sentiment over the past year. 

The co-founder and chief executive of Discovery Limited said that cooperation between government and business has helped stabilise key pressure points, from electricity supply to logistics. That, he said, has changed how investors and ordinary citizens talk about the country. 

“I have been part of the business-government partnership, and we have steadied the ship to a large degree, particularly on Eskom and around logistics,” Gore said, referring to the state power utility, Eskom. 

He cautioned that faster growth will not arrive overnight. “Getting the growth to come through will take some time, but it will come through. South Africa is in a very important phase right now,” he said. 

Recent data, he noted, show progress. South Africa recorded seven days of load-shedding in 2025, compared with 290 days in 2023/24. Rail volumes rose 15% from a year earlier.

Government bond yields have eased to about 8.1% from 10.38% a year ago, reflecting improved investor confidence. Ratings agency S&P Global also delivered the country’s first credit upgrade in more than a decade. 

Gore acknowledged that geopolitical tensions, including conflict in the Middle East, could weigh on global markets and affect South Africa. Still, he argued that many of the recent gains stem from domestic reforms and are within the country’s control.

Gore sees shift in public sentiment

For Gore, the shift is not only visible in economic indicators but also in everyday conversations. 

“As an individual, optimism lets you see opportunities,” he said. “But as a mass of people, opinions change. My sense is that people are talking differently about the country compared with a few years ago.” 

He said he has seen the difference inside Discovery itself. Three or four years ago, retaining skilled staff was a constant challenge as emigration picked up. “We are not facing that anymore. At one stage you were holding on to people. It has changed,” he said. 

Gore believes sentiment plays a direct role in economic performance. If investors and households assume decline is inevitable, they delay spending and expansion. A more balanced view, he argued, can unlock capital and hiring. 

“We have got to ditch the sense that the country is in inevitable decline,” he said. “If you change that narrative and give people some confidence with economic growth, you will see businesses investing more and people feeling more positive.” 

Building a Financial Services Group 

Gore co-founded Discovery in 1992 with Barry Swartzberg as a health insurer. The company listed on the Johannesburg Stock Exchange in 1997 and has since expanded into life insurance, investments and banking through Discovery Bank. Its Vitality programme, which rewards healthier behaviour, has become central to its model. 

Today, Discovery operates in 22 countries, employs more than 12,000 people and serves 25.7 million clients globally, reflecting its growth from a local start-up into a multinational financial services group.

For Gore, the stakes go beyond corporate performance. “Growth, jobs and confidence are linked,” he said. “If we get that right, the benefits reach ordinary South Africans.”