Theophilous James Bennett "Theo" Botha (born 1 March 1960) is a South African shareholder activist. ^{[1] [2] [3] [4] [5] [6] [7]} He has queried many companies in the area of good corporate governance, ^{[8] [9] [10] [11] [12] [13] [14] [15] [16]} ethics, ^{[17] [18] [19] [20]} executive compensation, ^{[21] [22] [23]} environmental practices ^[24] and Black Economic Empowerment. ^{[25] [26] [27]} He has also criticized South African corporate governance guidelines as too lenient. ^[28]

Theo Botha first decided to pursue shareholder activism after an investment in a small life insurance company ( The Sage Group). ^[29] The company was making huge losses in the United States that it refused to disclose to the South African shareholders. ^[6]

In a press interview it was found that "Botha doesn’t appear to be making money off this enterprise; in most instances he buys only one share." ^{[7][ excessive citations]}

Botha's usual approach is not unlike his first encounter with Sage in which all he did was pose a few questions which usually make the companies in question edgy.^{[ citation needed]} He spends time going through company financial reports to note discrepancies which he will use to compile his questions which he asks during company AGM's.^{[ citation needed]}

The South African companies Botha has confronted include The Sage Group, ^[29] Sappi, ^{[30] [31]} Absa, ^{[32] [33]} Sasol, ^{[34] [35]} SABMiller, ^{[36] [37]} Pick n Pay Stores, ^{[23] [38]} Tiger Brands, ^[39] Avusa, ^[40] Anglo Platinum, ^{[17] [41] [42]} Pretoria Portland Cement Company, ^{[16] [24]} Mutual & Federal, ^[21] Bidvest, ^{[11] [12] [27]} Wesizwe Platinum, ^[43] and Liberty Holdings Limited. ^[44]