Alec Hogg’s regular column covering investment, economics, moneycraft and, occasionally, something very personal.
The oil price plunge is rebalancing geographic wealth equations – providing a hidden boost to oil importing (mainly Western) nations. For South Africans, though, it is a sad reminder of how the collapsing Rand has hurt.
For the past dozen years, Alec Hogg’s made the journey to the World Economic Forum’s annual meeting in Davos. It’s been a useful gauge of the national drift with his rands buying less every year.
South Africa is another pronounced example of Belindia. Its history has left us with unique challenges which can only be overcome by sensitive, authentic leadership.
In other times of crisis triggered by a collapsing Rand, it was best to wait out the panic.
Many in London think SA is doomed. Mainly because they see a Mugabe-like President supported by a system that focuses enormous power on his person.
Alec Hogg is in London where he’s discussing the Nightmare on Maude Street, the day President Zuma wiped R500bn off the value of SA stocks and bonds.
For all the bickering on social media, South Africans in the main area are blessed with a generosity of spirit that shames most of the world.
In line with our ambition to globalise, we’ll be spending this week in London en route to Davos.
Big business should pay their bills on time. It will make a minimal difference to their financial situation. But will reduce the 80% startup failure rate.
If the Chris Hart saga gets South Africans thinking about how to engage more respectfully with those from different backgrounds, the nation will have received a lasting gift.