by Thinus Ferreira
Steve Pacak, former group financial manager at M-Net and later a non-executive director and chairperson of Naspers' audit and risk committees, died on Monday after losing his battle against cancer. He was 71.
Naspers announced Steve Pacak's death on Tuesday on the JSE's Stock Exchange News Service (Sens).
Steve Pacak joined M-Net in 1988 as its group financial manager, two years after M-Net was launched in 1986 as South Africa's first pay-TV channel and over time held various executive positions within the group as a qualified chartered accountant.
Overseeing M-Net's rapid expansion as a pay-TV operator, he was instrumental in its financial operations during its transformative late 1980s and mid-1990s period that gave rise to the creation and growth of MultiChoice and MIH holdings.
He became an executive director of Naspers in 1998 and was the group's financial director until his retirement in 2014.
After his retirement, he continued to serve as a non-executive director on the boards of Naspers and Prosus where he was the chairman of the audit and risk committees.
Steve Pacak was also a director of Media24, MIH B.V, MIH (Mauritius) Limited, MIH Holdings, and MultiChoice South Africa Holdings.
Naspers chairman Koos Bekker says, "Over almost four decades, Steve was a key mover in the development of our Naspers group. His financial and business acumen, deep knowledge of our business and work ethic were invaluable."
"Beyond professional achievements, Steve was one of the most honest and decent human beings I ever met."
Steve Pacak suffered from health complications after treatment for cancer in 2025. He is survived by his wife Sheila and two children Stephanie and Gerard who both live in London.
