Talent development consists of planned experience, training and guided growth provided by an organization in order to ensure an uninterrupted supply of competent leaders who are sufficiently equipped and ready to manage the vagaries of the business environment. It is not a one-off learning event; rather, it is a continuous process. The ultimate goal of talent development programmes is therefore to improve the leadership capabilities of those who perform managerial functions and enhance the future performance and effectiveness of organizations. Although every organization appears to appreciate the criticality of talent development, not all organizations actually ‘walk the talk’. There are therefore concerns that lack of leadership development may threaten the performance of many multinational corporations not only in Africa, but also worldwide. A study of Fortune 500 and Global 2000 companies by Corporate University XChange in 2007 revealed that commitment to leadership development was weak and not supported with adequate financial investment. Furthermore, only 3 per cent of respondents were confident in their firms’ ability to develop future leaders to ensure the long-term success of their firms.