Naspers Mourns Longtime Leader Steve Pacak After Cancer Battle

South Africa’s corporate world has lost one of its quiet architects. Steve Pacak, a longtime leader within Naspers, has passed away after a battle with cancer, closing the chapter on a career that helped shape the country’s modern media landscape.

The news was confirmed on Tuesday, 21 April 2026, through a statement published on the JSE’s Stock Exchange News Service, marking the end of nearly four decades of influence within one of Africa’s most powerful companies.

A Career That Grew Alongside South Africa’s Media Industry

Pacak’s journey with Naspers dates back to 1988, when he joined M-Net during a time when pay television was still finding its footing in the country.

Launched just two years earlier, M-Net was South Africa’s first pay-TV service, and it quickly became a symbol of how media consumption in the country was evolving. Pacak stepped into the financial side of the business during a crucial growth phase, helping guide the channel through expansion and innovation at a time when the industry was shifting rapidly.

His work behind the scenes ensured that M-Net not only grew but also integrated into what would later become the broader MultiChoice and MIH structures, laying the groundwork for a business that now reaches millions of households.

From Financial Director To Trusted Boardroom Voice

In 1998, Pacak stepped into a more prominent leadership role as Naspers’ financial director, a position he held until 2014. Over those years, the company transformed from a traditional media house into a global technology investor, and Pacak’s financial oversight played a key role in navigating that transition.

Even after stepping down from his executive role, he remained closely involved. As a non-executive director and chair of key committees, he continued to influence decision-making, offering institutional memory and strategic guidance at the highest level.

His reach extended beyond Naspers itself, with board roles across several major entities, including Media24, MIH B.V, MIH (Mauritius) Limited, MIH Holdings, and MultiChoice South Africa Holdings.

Roots In The Free State, Impact Across The Globe

Before the boardrooms and balance sheets, Pacak’s story began in Welkom, where he attended St Dominic’s College. His connection to the school remained strong over the years, including support for the development of a media centre, a fitting legacy for someone so deeply tied to the industry.

He later studied at the University of the Witwatersrand, earning a Bachelor of Accounting degree and qualifying as a chartered accountant, credentials that would anchor a career defined by precision and long-term thinking.

A Legacy Built On Integrity And Steady Leadership

Tributes from within Naspers have highlighted not just Pacak’s professional contributions, but also the character behind the title.

Chairman Koos Bekker described him as a central figure in the group’s development over nearly 40 years, pointing to his deep understanding of the business and unwavering work ethic.

More telling, perhaps, was the personal note. Bekker spoke of Pacak as one of the most honest and decent individuals he had encountered, a sentiment that reflects the kind of leadership that often goes unseen but leaves a lasting imprint.

The Bigger Picture For South African Business

Pacak’s passing comes at a time when South Africa’s corporate sector continues to evolve under pressure from global markets, digital disruption and local economic realities. Figures like him represent a generation that built the foundations many companies still rely on today.

While he may not have been a public-facing executive in his later years, his influence remained embedded in the systems, structures and strategies that continue to shape Naspers and its affiliates.

In a business environment often defined by rapid change, Pacak’s legacy stands as a reminder of the value of consistency, institutional knowledge and principled leadership.