In this episode of the Thursday with BizNews editor Alec Hogg and Rob Hersov, Hersov unpacks the critical issues plaguing South Africa, from government inefficiency to corporate cowardice. Advocating bold reform, he draws lessons from global role models like Argentina’s Javier Milei and proposes visionary changes that could turn South Africa’s economy around.
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South Africa teeters on the edge of economic and political collapse. In a fiery discussion with Alec Hogg on BizNews, businessman and capitalist activist Rob Hersov dissected the nation’s crises and articulated bold solutions. The conversation spanned everything from South Africa’s bloated government to the potential of nuclear energy, and Hersov’s own philosophy of courage and reform. ___STEADY_PAYWALL___
Bloated Governance: A System in Need of a Chainsaw
Hersov criticized South Africa’s government for its inefficiency and overregulation, pointing to Argentina’s libertarian leader Javier Milei as a blueprint for change. Milei, Hersov noted, slashed Argentina’s cabinet from 17 to 8 ministers, achieving a fiscal surplus and curbing inflation. “We’ve got 32 ministers and 43 deputies – 75 people! It’s idiotic,” Hersov declared, emphasizing the urgent need to downsize and deregulate.
In Hersov’s vision, half of South Africa’s ministries could be eliminated immediately, with further reductions following soon after. Ministries like Sports, Arts and Culture, and Women were singled out as unnecessary, with their functions better suited to local governments or private enterprise. “You take a chainsaw to this country, and you’ll see a surge in foreign investment and employment,” he said.
The Role of Leadership: Who Can Steer the Ship?
A recurring theme was the need for bold, decisive leadership—someone willing to make hard choices quickly. Hersov cited Gayton McKenzie, leader of the Patriotic Alliance, as a potential game-changer. “He’s principled, values-driven, and gets things done. If given the mandate, he could be South Africa’s version of Milei,” Hersov argued.
He also contrasted McKenzie’s leadership style with that of President Cyril Ramaphosa, whom he described as too slow and indecisive to deliver the radical reform South Africa needs. Hersov lamented Ramaphosa’s reliance on a fragmented ANC and suggested that even well-intentioned reforms under his administration would fail to move the needle unless implemented with greater urgency.
Economic Growth: Lessons from Argentina and Beyond
Hersov painted a picture of what South Africa could achieve by learning from global examples. He praised Argentina’s Milei for reducing inflation, cutting government spending, and fostering economic growth within a year of taking office. He also highlighted El Salvador’s Nayib Bukele, who slashed crime rates by incarcerating 80,000 gang members and restored public order.
For South Africa, Hersov identified three critical needs: deregulation, investment in infrastructure, and efficient energy policy. He commended recent government support for small modular nuclear reactors (SMRs) as a step in the right direction, but lamented that such initiatives were “too little, too slow.”
“We need investment and growth momentum,” Hersov said, advocating for more fibre infrastructure and energy diversification. He called for reducing the Monopolies Commission’s influence, which he believes stifles innovation and business growth.
Corporate South Africa: The Silence of the Lambs
Hersov did not spare corporate South Africa from criticism, accusing business leaders of cowardice in the face of governmental failure. “They’re silent, afraid to stand up and be counted,” he said. Hersov sees his role as speaking out where others can’t, leveraging his financial independence to advocate for change without fear of reprisal.
Personal Values: Courage as a Guiding Principle
Amid his policy prescriptions, Hersov shared a deeply personal reflection on his guiding values. Courage, he explained, is the cornerstone of his philosophy. “Being true to yourself and standing by what you believe—regardless of the cost—that’s courage,” he said.
Hersov also revealed his admiration for stoicism, a philosophy emphasizing resilience and purpose. Citing the Roman Emperor Marcus Aurelius as an inspiration, he urged others to confront life’s obstacles as opportunities for growth.
The Ozempic Revolution and Beyond
On a lighter note, Hersov discussed his personal experience with Ozempic, the groundbreaking weight-loss drug that has taken the world by storm. “It’s a wonder drug,” he said, citing his own transformation and the broader health benefits associated with the medication.
But even this topic tied back to Hersov’s broader vision for efficiency and progress. He speculated on the societal shifts Ozempic might bring, from declining sales of junk food to reduced healthcare costs, framing it as a metaphor for the kind of transformative change he envisions for South Africa.
A Call to Action
Hersov’s message is clear: South Africa’s salvation lies in bold, uncompromising leadership, radical reform, and a collective commitment to courage and truth. “We’re wasting years,” he warned. “It’s so clear how we can grow at 6% annually—creating jobs, booming the economy—it’s easy to do. But we need the spine to make it happen.”
Whether South Africa will find its Javier Milei or Nayib Bukele remains to be seen. But for Hersov, one thing is certain: the time for half-measures is over.
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