🔒 Boardroom Talk – RW Johnson: These ANC sacred cows must be slaughtered to avoid default

By Alec Hogg

RW Johnson’s take on the MTBPS is exactly what his legion of fans would expect – incisive, honest and brutally direct. Re-iterating that money has zero respect for idealism or diplomacy. This ultimate inanimate object, it offers no reward to the good nor punishes the evil. And in this objectivity, demands respect from all.

That’s a lesson the ANC is learning the hard way. As Johnson explains, decades of cadre deployment and caving to trade union wage demands means SA now has a super-elite – the 1.2% of the population in protected employment with the State that hoover up 30% of all taxes paid annually.  

___STEADY_PAYWALL___

The long-time Oxford Don argues, quite rationally, that unless this ‘sacred monster’ is slaughtered, South Africa is destined for the unfortunate embrace of creditors like the IMF or China – neither of whom is known for any generosity of spirit when cash is involved.

Some good news on a related front. Transnet’s joint commiunique with the Special Investigating Unit, distributed yesterday, announced the freezing of R8.9m in pensions of its former executives Lerato Makenete and Landela Madubane.

During the Covid-19 pandemic the duo colluded with three BEE suppliers, paying R29.99 for a million “breathalyser” straws that were worth 29c – defrauding Transnet of R33.5m. As we read in the De Ruyter book, this kind of scheme is a classic wealth building activity for many SOE executives. Hopefully Eskom will soon be following Transnet’s lead.

Perhaps the Republic of No Consequences is finally turning a corner. Every journey starts with small steps. Roll on 2024.

Sterkte

Alec

Read also:

Visited 97 times, 1 visit(s) today