Resilience requires intelligence and adaptability

In an era defined by rapid technological advancement, economic uncertainty and changing risk landscapes, resilience alone is no longer enough. Success increasingly depends on the ability to combine resilience with intelligence, leveraging insight, innovation and adaptability to make smarter decisions in an increasingly complex world.

This was the central theme of the 2026 Elite Wealth Conference, held on 25 June, where leading voices in economics, insurance and wealth came together to explore Resilience Meets Intelligence: The Future of Wealth and Risk. The conference saw more than 2300 delegates attend as speakers unpacked the trends, challenges and opportunities in today’s world.

“While intelligence enables us to identify opportunities, it is resilience that sustains success over time,” opened Tandiwe Cimela, Executive Head of Elite Risk Acceptances, part of Old Mutual Insure.

She said that Elite Risk had demonstrated resilience over many years, yet is not resting on its laurels.

“Operating intelligently today means preserving what works – trusted broker and adviser relationships, a strong culture, and our leadership in this segment – while deliberately investing in the capabilities that will shape tomorrow. That includes sharper execution, faster and better decision-making, deeper insight into emerging risk trends, and enhanced solutions that better support clients.”

Sherwin Govender, Investment and Business Development Specialist at Old Mutual Wealth, spoke about what is needed to build lasting wealth today. He cited findings from the Henley Wealth Report, which defines a wealthy individual as having a net worth of at least US$1 million (approximately R17 million), yet only about 41000 people in South Africa fall into this category. At the same time, South African household wealth reached a record amount of approximately R22.5 trillion in 2025.

“Despite record wealth levels, many South Africans do not feel wealthier,” he said.

He cited surprising research that 51% of high-income earners are in a negative wealth position. “Many people earn well but fail to convert income into assets and long-term wealth. The consequence is that without positive net wealth, it is difficult to create generational wealth.”

He added that financial advice is central to building wealth, yet only 41 000 households in SA use a financial adviser.

“Investment assets play a critical role in long-term wealth accumulation, and professional financial advice significantly improves wealth outcomes. Remember that the goal is not simply earning more income, but converting income into lasting wealth,” said Govender.

Nicky Verd, digital futurist, author and AI specialist, challenged delegates to approach the future from a position of curiosity rather than fear.

“A more useful starting point than seeking to understand AI would be to ask how AI is impacting your industry and how you need to evolve to keep pace."

Her presentation highlighted research that showed how AI is introducing new categories of risk, including insurance fraud. A study by Cybsersecrity Ventures found that if cybercrime were a country, it would rank as the world's third-largest economy after the United States and China, highlighting the scale of the threat.

“There was a time when being sceptical was frowned upon, today it is the skill of the future. Question everything,” she recommended.

Gina Schoeman, an economist and MD of Citi, took the audience through how the US political climate, the US dollar, and the oil price, is shaping geopolitics, as well as its potential impact on South Africa.

“There are many scenarios that could impact our economic position,” she said, adding that Treasury is forecasting GDP growth of 1.8% in 2026.

She suggested that the weather phenomenon El Niño, anticipated to hit SA in 2026, is likely to keep inflation stickier for longer during the latter half of the year, which is also likely to impact the South African Reserve Bank’s decisions around the interest rate.

“Against this, it is worthwhile remembering that South Africa has progressed over the last 10 years, which is a positive resilience story,” she said. “Across emerging markets, SA is the only economy that is making progress in all three pillars of reform, including structural reform, monetary policy credibility, as well as fiscal policy discipline. Although we have some way to go to stabilise debt.”

Even so, she emphasised, “the rules are continually changing, making forecasting in the current environment difficult beyond the short term.”

She said it is important to think through all possible scenarios, allowing one to pivot if the situation calls for it. “To borrow from John Maynard Keynes, it is better to be roughly right than precisely wrong.”

She cited research on loss aversion from the 1970s where Daniel Kahneman and Amos Tversky found that the pain of losing something feels about twice as powerful as the pleasure of gaining it.

“To become resilient, it is important to stick to your plan, consistently do the basics right, and protect what you don’t want to lose,” concluded Schoeman.

Cimela concurred, concluding the conference by saying that “combining resilience and intelligence is ultimately what will help businesses succeed in a changing market.”

‍