relevant, to sound management, good governance
and improved and appropriate performance
levels in every facet of their operations. We must
implement and action the National Development
Plan, along with specific industry initiatives, and we
must meet the measurement targets determined,
on time every time, clearly identifying with the
performance goals and objectives.
We must empower the entrepreneur in every
possible way. The Black Industrialists’ investment
initiative is an excellent opportunity to grow
economic activity and value. All these endeavors
must – and will – directly target the elimination
of poverty, address the inequality gap and ensure
that many more South Africans are employed or
included in economic activity.
We should remember that the ANC inherited,
in the 1990s, over US $25 billion in debt, weak
economic activity, high interest rates and junk
status. We managed ourselves out of the problem
then and if we acknowledge the reasons and the
facts, we are well capable of managing ourselves
out of the crisis again. Most importantly, we
need to restore confidence and trust amongst
all stakeholders, through our actions and
our policies. As the widely acknowledged US
economist Larry Summers stated: “Improving
business confidence is the cheapest form of
economic stimulus.”
Q
: In recent months, there has been
much talk from a growing number
of influential people in the governing
party about the need for “radical
economic transformation”. What do
you make of this growing rhetoric and
how would you advise companies in
the sector to respond to it?
A
: In its March 2017 Economic
Transformation Discussion paper, the ANC
makes no distinction between “radical economic
transformation” and its widely referred to “truly
inclusive economic growth”. Unfortunately,
without any clear policy guidelines, it is difficult
to understand exactly what is contemplated by
“truly inclusive economic growth“. Central to
the process, however, will be the land reform
argument and increasing black ownership of the
economy.
Even though the investment by black, black-owned
and black dominant parties in the South African
economy is deliberately understated by some,
the reality is that more black South Africans must
participate more fully in business ownership and
risk. We have the potential to strongly advance
In the metals and engineering industries, employers
across the board have acknowledged that the viability
and sustainability of the current collective bargaining
structures and processes are under threat from two
key, socio-economic forces: the enhanced requirement
for increased competitiveness in a global market and
the urgent need to address the social living conditions
of employees in an environment worsened by both
inequality and poor service delivery
opportunities in agriculture and agro- processing,
but transferring land without ensuring that skills
and the means to harvest the land are present,
committed and sustainable, through good times
and bad, will be counter-productive. In this
regard, we should carefully consider the land
reform, associated nationalization and “radical
economic transformation“ demands by some
with the time and tested contrary views of other
respected economists and strategists.
We should embrace the debate; it certainly isn’t
going away. We should apply our minds to growing
the economy to meet the needs of all South
Africans and engage strongly in the process. We
should recognize the successes and failures, our
own as well as many examples worldwide, and
find the best possible solution for South Africa.
Simply put, there can be no value in living in a
rich country with increasing numbers of poor
people, and there will be no value gained through
collapsing assets, institutions and infrastructure
in support of irrational demands.
Q
A
Q
: Please provide one word that
describes you the best.
: Integrity.
: What do you consider to be your
Three Biggest Accomplishments
to date?
A
Daniella, Nicole and Cara – so successfully into
womanhood and their chosen careers has been
enormously satisfying.
It is especially pleasing to now watch my
granddaughters, Emma and Sarah, begin their
journey through life and it emphasizes the
importance of persuading Ann to marry me all
those years ago.
Listing Capital Appreciation on the JSE in
October 2015 together with very special family
and friends, Alan Salomon and Motty and Brad
Sacks, has to be right at the top from a business
perspective.
Leading Macsteel through an extensive
change process and then building capacity and
establishing and empowering exceptional teams
and effective structures motivated by excellence,
passion, sound governance and a clear, solid
business plan, and ultimately exceeding every
target identified, over a number of years, was also
very rewarding.
Of course, I’m equally proud of the fact that
my colleagues, peers, industry participants
and friends have invited me into positions of
leadership and responsibility throughout my
career.
And then I’m pretty happy with the fact that, on
the odd occasion, I can still manage to hit three
decent golf shots in a row.
: I am especially proud of my relationships
with family, friends and colleagues.
Watching those around me, family, friends and
colleagues grow – and especially my daughters,
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