Top CEO says South Africa’s National Defence Force should be closed

Ninety One CEO Hendrik du Toit said he would close the South African National Defence Force (SANDF) if he had the chance, as it wastes R100 billion a year.

Du Toit is one of South Africa’s most respected business leaders, having founded and grown Investec Asset Management, now Ninety One, into a major global player.

Beyond Ninety One, he serves as a non-executive director of Naspers and its European subsidiary, Prosus.

He previously served as a non-executive director of the Industrial Development Corporation (IDC) of South Africa.

Du Toit shared his views on the local and global economy during a presentation at the 2026 Hortgro Technical Symposium.

He said that broken state institutions have to be rebuilt, but made the radical proposal that the Defence Force should be closed.

“Think of our military. I would probably close the army if I had the chance because we’re wasting R100 billion a year on nothing. They’re defending nothing,” he said.

“They shouldn’t be used domestically to do the work of the police. We should really think about that.”

He was also highly critical towards the work of South Africa’s embassies, which he said do not operate commercially.

Although he praised President Ramaphosa’s independent foreign policy, he criticises how South Africa conducts international diplomacy.

“The president was right to keep the independent line, but our embassies are not commercial embassies,” Du Toit said.

“South African embassies are still retirement homes of politicians who’ve lost their mojo.”

He urged South Africa to get back to a very commercial foreign policy, which focuses on opening markets and helping with diversification.