Siva Padayachee, Head: GRC & Business Assurance at e4
As the Institute of Directors South Africa (IoDSA) launched King V on 31 October, Siva Padayachee, Head: GRC & Business Assurance at fintech specialist e4, says the new code is expected to strengthen rather than radically reshape corporate governance in South Africa.
For over two decades, e4 has partnered with leading financial institutions and enterprises to deliver secure, compliant, and innovative digital solutions. As digital transformation accelerates, the company has remained a strong advocate for responsible technology adoption, balancing innovation with robust governance frameworks that protect client trust and reputation.
“From a technology governance perspective, much will stay the same,” says Padayachee. “The King Code and its guidelines have matured significantly over the years, making them easier to manage and consume. We saw a huge leap between the first and third iterations, while the move from King III to King IV was far smoother. And King V is not a dramatic departure from its predecessor.”
However, Padayachee believes King V takes a more specific stance on governance in the era of Artificial Intelligence (AI). “While South Africans love a buzzword, we’ve seen increasing interest in the use of AI – and that means we urgently need clearer guardrails,” he says. “These are particularly important when it comes to contractual obligations and maintaining trusted client relationships.”
He adds that responsible use of client data is a critical consideration. “If e4 is entrusted with a client’s information, it is our duty to ensure that this data is not exposed to the internet or shared with free, publicly available AI tools. Doing so could not only compromise security but also damage the relationship of trust we’ve built with our clients. I expect King V may recommend broader use of closed or private AI solutions, rather than open models, as a key governance safeguard. While at e4 we do this already, there are many who don’t.”
Beyond AI, Padayachee believes King V places greater emphasis on reputational risk. “As technology providers, we must be seen as competent and responsible users of technology. The way we adopt and integrate new tools must be mindful, measured and purposeful,” he explains.
To embed this philosophy internally, e4 has established an oversight committee focused on promoting the responsible use of technology across the group. “We’re on a long journey, but these cultural shifts need to start happening sooner rather than later,” Padayachee notes. “Through this committee, we’re ensuring that standards are defined, governance is embedded, and that a shared culture of accountability and responsible innovation takes root.”
The committee meets twice annually, with the next session scheduled for March 2026. “I’m excited to see how far we’ve progressed by then,” he says. “Governance and innovation are not opposing forces – they’re partners in ensuring sustainable, ethical progress.”
You can access the King V code here.
ENDS
