The Institute of Directors was founded in London in 1903 and granted a Royal Charter by King Edward VII three years later.

The southern Africa chapter of the Institute was established in Johannesburg in 1960. In 1985, it formed a Section 21 company and registered as an Association Not For Gain (Registration No. 1985/002734/08).

The first president of the IoDSA was Harry F Oppenheimer (1960 – 1986), followed by Basil E Hersov (1986 – 2001). Hersov remains the Life Honorary Patron of the Institute. Reuel J Khoza, only the third president in 50 years, was elected in 2001.

The IoDSAs first vice-president is Mervyn E. King SC. The remaining vice-presidents are all eminent business professionals elected from the membership.

In 2009 the IoDSA became independent from its London counterpart. Over the years, the Institute has become increasingly autonomous of the IoD in the United Kingdom, but has maintained close links with it and still enjoys a working relationship and reciprocity.