This paper presents a brief account and rationale for implementation of competency-based learning in any form of management and leadership development programmes in South Africa. The fact that competency-based learning (CBL), also known as outcomes-based learning has been scrapped from the schooling system in South Africa is unfortunate as this method enhances critical thinking skills and practical problem-solving skills. This paper presents CBL as a model of meta-cognitive approach to learning that integrates both theory and practice into experiential learning through six dimensions, namely, active learning, constructive learning, cumulative learning, goal-oriented learning, learner-centred and curriculum design strategies. In the advent of the fast-paced global economy, managers and leaders need to seek those business schools that value real-time practical approach to curriculum for relevance and to maximize shareholder value through human resource development. This brief presentation ends by recommending an approach through CBL that fosters three critical pillars of leadership development, namely: intellectual, behavioural and emotional agenda.