Boardroom Talk – Profound insights from Clem Sunter who sees Election’24 parallels with pre-1994 SA

By Alec Hogg

In 1985, instead of "crossing the Rubicon", as was mouthed in a part of his altered speech that survived, a delusional PW Botha wagged his finger at the world, and South Africa descended into chaos. Interest rates soared (prime hit 25%), a debt standstill was imposed after foreign banks demanded their capital back, divestment by multinationals mushroomed, and the economy tanked.

That Rubicon-speech-that-wasn't triggered a frenzy among those with most to lose to seek ways of stopping the politicians from destroying everything—the result: Anglo American exec Clem Sunter's famous High Road Low Road scenarios. The message got through. And South Africa experienced the miracle of a negotiated settlement.

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