Shoprite’s Whitey Basson, the cheerful billionaire – even when the sun isn’t shining
By Alec Hogg
It's been some years since I've shaken Whitey Basson's hand. Most of our recent interview engagements have been on the telephone. But the cheerful retailing billionaire came through to see our partners CNBC Africa last evening, and as he had a few minutes to spare, popped into the Biznews radio studio en route.
There's much the rest of us can learn from this superb entrepreneur. But two observations from yesterday are worth sharing.
@alechogg If you are a billionaire the sun is always shining & you can afford to be cheerful
— Jon abbott (@dearjonletter) August 20, 2014
First, despite decades in building the business, despite all the success, despite cracking an astonishing R100bn in annual sales, Whitey Basson retains a passion that has always set him apart. That shone through in his concern that analysts hadn't picked up on some anomalies in the financial results. Earnestly explaining to me that once you strip them out, the non-SA, African operations posted a sparkling 24% growth in profit. Cause for some celebration.
The other is his sense of humour. Interviewing Whitey Basson has always been fun. His response that a critical analyst had probably been out on too long a lunch was typical. Sure, the Shoprite share price was down 8% at one point. And by his own admission, these weren't the kind of numbers the market was hoping for. But Basson is too cheery to let that alter his mood. He doesn't only smile when the sun is shining. That's rare among the CEOs I get to interview nowadays.
Yesterday's top stories:
Kokkie Kooyman: Capitec downgrade unwarranted and dangerous
Matthew Lester: Save our teachers. F$@k the cruising Abil executive
Hey SA, want to create jobs? Heed an African role model – 24 000 and growing.
RECM's Van Niekerk: Key message in disappointing Shoprite numbers
SA poverty trap: Abil is tip of iceberg. Brilliant analysis by Shawn Hagedorn
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