Chairperson’s year-end message
As 2025 draws to a close, I find myself reflecting on a year of change and transformation – both within FISA and across the broader fiduciary landscape. If 2024 taught us resilience, 2025 has asked us to embrace renewal, recalibration and, above all, a move to purposeful leadership.
This was a landmark year for FISA. We welcomed a new Chairperson, a new Vice Chairperson Rumana Mahomed, a new CEO Jan du Plessis as well as a new permanent secretary to FISA, Dorita Dempers. We sadly and fondly said farewell to Eben Nel and Louis van Vuren in their respective roles who are stalwarts in the industry and FISA. I am grateful for the trust placed in us as the new team and inspired by the sense of unity shown by our members during this period of transition.
FATF success
Beyond our own walls, 2025 delivered one of the greatest national successes in recent memory: South Africa’s removal from the FATF grey list. This achievement required immense collaboration across regulators, government, the private sector, and compliance-intensive professions such as ours. While this relief is welcome, it is important to recognise that coming off the grey list is not the end of the journey – it is merely the beginning of a new standard of accountability and transparency expected of all fiduciary participants. Elevated expectations will remain with us in 2026 and beyond, and FISA will continue to equip its members to meet them with confidence.
Yet, even with progress, the obstacles before us remain substantial. Our members continue to navigate recurring challenges with SARS, from backlogs to inconsistent communication channels, all of which hinder timely estate administration. The Master’s Offices, despite certain improvements in some jurisdictions, remain in a state of uneven functionality. Many offices still face capacity issues, technology constraints, and operational inefficiencies that directly affect our ability to serve the public effectively and within reasonable timeframes.
These realities underscore a truth we cannot ignore: the success of the fiduciary sector depends on collaboration across every node in the system – the state, the professions, the regulators, and the public. As we prepare for 2026, our focus must be on deepening partnerships, fostering structured engagement, and advocating for practical reforms that enable both compliance and service delivery. FISA will continue working relentlessly with SARS, the Chief Master, the Department of Justice, and other role players to ensure that fiduciary practitioners are supported, heard, and empowered to execute their mandates with excellence.
It has not been an easy year. But South Africa, in its own remarkable way, has once again reminded us that resilience is part of our national DNA. The extraordinary performances of our national sports teams in 2025 have lifted spirits across the country, proof that unity, discipline, and belief can shift the narrative, even in the face of adversity. Sport has become a force for optimism and cohesion, offering a glimpse of what is possible when a nation pulls together.
Economic signs of life
And just as importantly, we are beginning – ever so slightly – to sense the faint, fragile signs of life in the economy. They are not yet strong enough to celebrate loudly, but they are there: small indicators of recovery, pockets of renewed investor confidence, and early suggestions that structural reforms are slowly gaining traction. These “tiny, tiny” signs may be modest, but they remind us that progress often begins quietly.
As we move into 2026, let us do so with a shared resolve. Let us build a fiduciary sector that is credible, collaborative, technically excellent, and unwaveringly principled. Let us protect the trust placed in us by families, beneficiaries, and the public. And let us continue to strengthen FISA – not only as a professional home, but as a guardian of fiduciary integrity in South Africa.
Thank you for your commitment, your professionalism, and your perseverance throughout 2025. May the festive season bring you rest, renewal, and time with the people who matter most. I wish every member a peaceful holiday period and a hopeful, prosperous 2026.
Kind regards
Chris Murphy