Fake news, they are lying to us… investors look deeper. This business is dead. There is no way they can make such profits. TOO GOOD TO BE TRUE.
Sensei is on the mark. This event is a cameo of similar happening all over SA and spells darkness, doom and negativity. We can bleat all we like about how cool our country is, but the entire fabric is ripped and un-repairable in our lifetimes.
Our children can only look forward to a “good SA life” of nice weather and wildlife and other natural phenomena we are blessed with. They do not stand a chance in the international workplace where they would likely be aiming, for their own goals and solid purpose. The political dispensation and collapse of basic services has robbed them of that. Local education is sadly lacking, with teachers unqualified, trying to teach kids that are needing proper input, not half mast stuff. Lowering the pass mark? We have all seen the problem, don’t delude yourself that it will “get better”.
Prepare to live in a faster polarising environment, where crime and angst gets worse and all hide behind platitudes, fences and cellphones, blaming others and taking no responsibility.
Hello new world in SA
I hear you Mboni 🙂 (Maybe more “realism” than negativity?)
Since 94 the shoe is on the other foot. During apartheid the blacks were very unhappy & must’ve been very negative. They had the right to complain.
Now it’s our turn to be more negative.
The old NP apartheid govt was criticised at lot for its mistakes back in the day. Now, it’s the ANC’s turn to accept criticism. Nothing wrong with that.
You have to understand the white culture. When we complain about life (say about slow/bad municipal service delivery) it does mean we hate it. No..instead it’s our way to get leadership into action that we want things to operate better (whatever that may be). You noticed that things work properly when (complaining) white are taking an initiative? We want things to work. We get uptight about stuff & in the process try to get things to work. It’s our western culture.
Talk to a German or Swiss person. They take life extremely seriously, almost to grumpiness. The result? An efficient society where everything works perfectly 🙂
Africans honour the tribal culture. The will of the ancectors takes predence. There may be less % “formal” complaining. The complaining takes the form of violence to be noticed (to get things improved, like service delivery). Little responsibility in African society….kids grow up with mme/or gogo, while father disappeared.
We whites or Indians complain / get stressed up, and we take responsibility and take initiative to try and make aspects of society work better. (…like to ensure that there’s a working cellphone tower nearby, with battery backup, so that I can post this message to you).
Am making no excuses for my western culture. The same benefits loved by so many on this continent 😉
What a disgraceful comment. The ANC just as blind as the Nats.
If you need any indication of what the ANC Government thinks of this country and its people here it is. A monumental disgrace.
When you consider the ridiculous cost of entering the Sanparks they cant but make money.
Hi Hilton, I am one of those who has been forced by Telkom to change to fibre. Thanks to my past experience with their after sales service(absolutely zilch) I have chosen one of their competitors. Goodbye Telkom. I am glad to hear I am not alone.
No,not Xenophobic…The majority of the “foreigners” murdered, necklaced, set on fire, and/or severely beaten, happened to be SA nationals…
Proudly brought to you by the ANC and its commie mates…
I wonder how many useless “Managers” will be on that list of 900.
900 people saving 700m = 777K each. This means it will be pretty low level employees as the management wont be happy with such measly remunarations.
Just shut the ting down already!!
Dunning-Kruger says that 90% of South Africa is a zoo. The social grant, the minimum wage and government wage bill confirm it.
Allan Gray helped build a financial giant. Zuma simply helped himself.
How about a discussion on reciprocal visa free arrangements with other countries?
South Africans need visas to visa many countries who do not need visas to visit us.
Would you be so kind as to pull together a table of the 700 other SOE? I realise on the list are items such as Blind Society of South Africa, the Braille Library, a host of law libraries as well as some other obscure SOE.
I also think looking at a munic level and provincial level may find some Gems?
PS Surely Alexkor doesn’t need to be a national asset?
Jip. Eskom has STD. Nobody will touch it.
According to the World Economic Forum’s latest World Competitiveness Report South Africa has the worst labour-employee relations in the world, ranking 137 out of 137 countries. We also have the highest unemployment figure in the world. With labour unions in the tripartite alliance, where they dictate economic policy, we are also one of the most socialist countries in the world. Therefore, our economy is in a trajectory of steady decline. We are distributing a shrinking cake, instead of baking a bigger cake.
The tripartite alliance is a millstone around our necks. The international business community wants to see action against the unions from Ramaphosa before they will invest.
So this richest man in South Africa gives so much to development and charity. And ‘they’ dare point fingers at ‘White Monopoly Capital’?
Hey Squirrel – please also inform all these “investors” that:
1. 27% of you money(company) must be given to a black person/s upfront.
2. You cannot employ who you want to – it has to be a specific skin colour.
3. Lack of experience is no reason not to hire a person.
4. Your board and senior management need to be made up of designated groups and sexes,not necessarily those people that you deem correct and capable of the job.
5. The government reserves the right to expropriate your land without compensation at any time in the future.
If it is not done “legally” by the government the local inhabitants will do it in any case.
Once you have hired a person it will be impossible to get rid of him/her !!!
In other words we embrace new investments here !!!!!
If Special Economic Zones are so special, why not simply transform the whole country into an SEZ? These zones offer tax benefits, lower rates and taxes, less red tape, better delivery of services, no BEE or EE requirements and no expropriation without compensation.
If these SEZ’s are successful in creating jobs, what do we then call the business environment outside of the SEZ? Where the ANC implements their failed strategies outside of these SEZ’s, it is a disaster zone. A Socialist Disaster Zone.
Spot on Mike – I for one will not invest R1 into this country because I live here and are exposed to all the political BS, incompetence, arrogance and criminality going on. We have all the laws and a great constitution with no one to do the enforcement thereof!!
We can, and we should learn lessons from the game of rugby and the circumstances that enabled the Springboks to triumph on the world stage. This joyous moment of national glory and unity flows from a certain set of enabling circumstances. Luckily for the Springboks, we have these enabling factors in international rugby, but sadly, we have abandoned these enabling factors in the more important game of the local political economy.
All the players from all the competing nations play according to the same set of rules. The referee can only apply the rules. The referee is not allowed to use his position of power arbitrarily for personal gain. The referee is judged on his ability to apply the rules in an independent and just manner. This fair system enables the players who have the skills to work hard, learn more, support each other and to overcome injuries, to win. Players are willing to prepare for years, to be ready for the world cup, because they trust the rules will give them a fair chance.
The players in our economy are from the same demographic group that won the world cup. Our players(citizens) do have what it takes to win at the game of economics. Why are we losing this game of competitive international economics when we have the intellectual capacity, management skills, huge resource wealth and an untapped labour force? With this set of assets, we should be able to win the World Cup in Economics, measured in terms of GDP. Our players are losing the economic game because we abandoned the rulebook.
The referee, called Luthuli House, makes arbitrary decisions for his private gain. When one skilled player scores a try, Luthuli House transfers the points to a BEE player. When one player works harder than the rest and he scores many points, the referee taxes his score and redistributes his score to some players on the bench who did not come for training. This arbitrary and unjust system demotivates the best players and motivates other players to sleep in, and to not pitch for training.
Our economy and employment figures are in tatters, our GDP is at zero because our socialist government abandoned the rule of law to make arbitrary rules for personal gain. We abandoned the rules of the sport when we adopted the Mining Charter. That is why our best players go overseas and no international player wants to play with us. The solution is at hand.
RIP Dr Allan Gray. You set an example in terms of how an investment company should be run. 100% Reliable. 100% Honest. 100% Client focused.
With a similar amount of money invested last year it created 16000 jobs. How does it now create over 400000 jobs?
Most of the money “pledged” is from local companies. I thought the $100 billion target was for FDI “Foreign Direct Investment”
I am not sure about the “confidence in SA” our man is talking about. Most of these companies have to invest to stay in business. They always have.
This is a con. They got it wrong when they set the target and are now trying to pull the wool over everybody’s eye’s.
We are not all ANC voters that believe anything they are told.
Hits the nail on the head.
If you continuously discriminate, alienate and steal from certain groups of the population do you honestly think they will invest in this dump?
Do you honestly think the rest of the world don’t see this happening?
When ever has socialism been a good investment?
These people. TSK.
IF YOU WANT TO GAIN BUSINESS AND BUSINESS INTERESTS, cut taxes !! I HEARD THERE IS A 43% DUTY ON ELECTRIC CARS??????????? Cut the onerous business regulations and let Capitalism run!! Use the Donald Trump methodology. Look at the economic successes he is having. But being a Socialist country S A refuses to understand and grow. All at the while as the economy goes into ruin, the government says they are helping the poor.So 3rd world.
so, 16000 jobs have already been created, but the investment locations have still to be determined. does not compute. maybe CR should appoint Dynamo as an economic advisor.
In this alternative world of corrupted cadre a couple of millions, billions means nothing, just figures bandied about to impress their foolish supporters. In any way, who need Unionised Mega Factory’s, except Unions of course. It is the small & medium sized enterprises who keep themselves & even the economy going
I wonder if all the recipients of his charity even appreciate the hypocrisy of the wholesale slandering of so-called WMC in such a generalised manner.
And yet, after you have spelled out the issues so succinctly, nobody that can do anything about it will listen…
The ANC are either so incompetent that they are unaware of the issues they have created and their net effect, or so VILE and despicable, they just don’t care or have ulterior motives (i.e. to drive asset values down and take huge positions, to then later fix the self imposed issues we face)….
Fantastic article – thank you.
I wish more financial advisors operated like this ….explaining that there is a risk but why its a risk worth taking if it’s not a huge investment that you have to live off!
Like all your picks so….I’m following your lead, Adriaan – will be fun to see what happens and maybe we party at the end of two years!