We will be publishing Rob Hersov’s BNC#6 Keynote tomorrow where he threw away his prepared script and announced his ‘resignation’ as a political activist. Here is the speech he never gave.
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By Rob Hersov
We have 77 days and counting …
If we had a caring and compassionate government for the last ten years, instead of the corrupt and incompetent ANC mdalas….
Your friends and family would see you as the provider, look up to you and thank you for being employed, instead of the struggle and uncertainty you all face, day by day.
If we had a government for the last ten years that wanted the best for all the people in our country……
Our trains would be carrying many millions of people to work and back, would make commuting so much easier and cheaper – instead of collapsing the rail network from 30 million passengers a mere five years ago to only 4 million today.
If we had a forward-thinking and dynamic government for the last ten years, ….
Our peoples would be properly educated and we would be graduating proudly, year after year, thousands of smart young people who could be contributors to economic growth.
If we had a decent government for the last ten years that had respect for all its people,….
Our lights would be on 24/7. Eskom would be lowering prices and exporting electricity. Instead of all of trying to survive in the dark.
If we had a government for the last ten years that cared for your safety,….
You and your wife and children would be able to walk home without fear of being robbed or attacked.
If we had a honest government for the last ten years,….
You would be proud to be a South African.
But we haven’t had this government – we have had the corrupt and incompetent ANC.
I could go on and on, for hours, detailing the damage and destruction that the last ten years of ANC misrule has caused to our country, our economy, and our democracy.
The ANC has destroyed so many livelihoods- and destroyed the future for our children.
We desperately need to get rid of the ANC this May 29th.
We have 77 days and counting …
The statistics, as we all know, paint a stark and ugly picture: unemployment soaring above 30%, with youth unemployment, a particularly harrowing tale, exceeding 60%, casting a long shadow over the dreams of our next generation.
Our economy, once the beacon of hope and growth in Africa, now faces stagnation and uncertainty.
Our growth rate is a measly 0.3% while the average for sub–Saharan Africa is a healthy 3%.
We, South Africa, are a global embarrassment.
Read more: No, Rob Hersov, you are wrong! – Marc Lubner
We have 77 days and counting …
It is difficult to conceive, but in the late 80’s/early 90’s, Sweden was in the same dire financial situation that South Africa is in today.
Sweden became a backwater, taxpayers left, the cities were dull, and no-one with any money or dynamism wanted to invest, let alone live there.
The food was terrible and the weather miserable.
The Swedish economy was at its nadir – the situation was unsustainable. Much like South Africa today.
To bring the economy back from the brink, the government enacted critical fiscal, monetary and structural reform:
- currency regulations were relaxed, the Krona was floated.
- taxes were lowered.
- Swedish SOE’s were privatised (believe it or not, even the Beer and Brewing business was government-controlled….).
Almost overnight, the Swedish economy was open for business.
Eventually the national debt burden was repaid, and the social reforms you see in Sweden today had the capital base to be financed.
Sweden now has one of the highest GDP growth rates in the Western World, as has been so for the past 20 years.
Although the food has improved, the weather is still miserable.
And Sweden is a capitalist economy!
South Africa can do the same. But to do this, we must rid ourselves of the ANC.
We have 77 days and counting …
Moletsi Mbeki, a leading South African economist, activist and brother of Thabo Mbeki recently announced his Five Mortal Sins that have started the death spiral of the ANC:
- Adopting BEE as a government policy.
- Growing the black middle class through affirmative action.
- Retaining SOE’s instead of privatising them.
- Foreign policy failures in Zimbabwe and Mozambique; and
- Losing control of South Africa’s land borders.
Running across all these sins has been the deindustrialisation of South Africa and the damage caused by ANC cadre deployment and corruption
We have 77 days and counting …..
I have a proposal on how to rebuild our country.
I floated the idea one year ago, but it must be put forward now as we don’t have any other solutions.
Karou Charou, Durban-based comedian and podcaster, and great friend of mine, did a very funny spoof interview with Vladimir Putin where he asked Putin what his plans for Ukraine were – and he repeated what Putin was supposedly saying “destabilize the country, destroy resources, destroy water supply and power supply, basically paralyze the region.”
And then said “But Mr. Putin, with the greatest respect, why don’t you consider getting the ANC involved? Well, they can destroy any stable enterprise in no time at all. Without any real loss of life.”
Hilarious but very, very sad as it is 100% correct. The ANC has destroyed well run and hugely successful businesses and state enterprises and has created as much damage as an invading army or an enemy Airforce bombing campaign would do!
We haven’t been attacked or bombed in South Africa, but our country has been so badly plundered and mismanaged over 30 years which has resulted in destroying our vital infrastructure which, in most cases, cannot be repaired.
And as our friends up country know too well, there are areas which look like they have been damaged by war. And I don’t mean Zimbabwe, I mean upcountry South Africa.
How did we originally create all the extraordinary infrastructure and SOE’s which the ANC has so successfully destroyed?
Well in the 1950’s we had a policy of “Inward Industrialisation”, which under superb managers and forced funding-participation allowed the creation of the likes of Iscor, Eskom, Transnet and more. And even SASOL which my grandfather Bob Hersov founded, and the Nat Government expropriated WITH compensation.
There was a system then of “Prescribed Investments” where Pension Fund managers had to put 53% of their funds into government treasuries or bonds.
A normal reconstruction bond is normally associated with the rebuilding of a country which has suffered immense destruction after a war over a period of usually less than 10 years, but as the ANC has done equivalent damage, I am proposing we urgently launch a South Africa Reconstruction Bond of $100billion. (NB: SA’s current GDP is $400bil and the current fiscal deficit is currently running at $20bil.)
As we have almost zero economic growth, are suffering capital flight, and have a small and rapidly shrinking tax base, it would be naïve to expect taxpayers or foreign passive funds would provide the capital.
The first funding option would therefore be to copy the policy of the ‘50’s and’60 and make the reconstruction bond a prescribed asset.
The savings industry would squeal, but a mere 5% of the Unit Trust Industry in SA equates to a massive R120bil (as a point of reference).
In 2020 the size of the SA pension funds was US$155bil and a 5% slice of that equates to a massive US$ 7.8bil. The pension funds would therefore have to align their portfolios every year to make sure that at market values they hold a 5% prescribed asset, namely the reconstruction bond.
Another source of funding could be through the many wealthy foreigners who wish to live in SA. Provided they invest 5% of their net worth, which needs to be a minimum investment of US$500,000 into the 10-year bond and they hold these bonds for at least 5 years, these foreigners would be granted SA permanent residence.
And I personally know and can name 50 of these foreigners, mostly from Sweden, Germany, Italy, and the UK. All of whom are being fobbed off by a more-than-useless Home Affairs.
Before the monetarists shoot me down, I am aware that the issuance of a bond this size could cause significant inflation in the economy. It is therefore imperative that South Africa continues to uphold an independent Reserve Bank continuing to implement a tight monetary policy.
Suffice to say that the expenditure incurred and implemented through the reconstruction bond will no longer require the State. This expenditure should therefore be negated by the State no longer being responsible for the vital and strategic reconstruction projects of the future.
The reconstruction bond will have a maturity of 10 years, will be guaranteed by the State, and the SA big four banks will also be required to create liquidity by making an active market in these bonds 24/7.
The reconstruction bond will deploy $50bil almost immediately to fund infrastructure in the following areas:
1. Power – nuclear and coal.
2. Roads, ports, and airports.
3. Rail – passenger and freight.
3. Water – dams and pipelines.
A good example for investment in rail infrastructure would be the crucial but collapsing Sishen to Saldanha railway line. This asset will need to be isolated from Transnet. The revenue earned from, for example, Kumba Iron Ore using the line, will be paid over to the Recon Bond Co. to service the coupon on the bonds. The proceeds from this bond issuance will not under any circumstances be handed over to the South African fiscus to manage.
And we would have an executive and trustee board of extraordinary South Africans and internationals – none of whom would be politicians, cadres, stooges, or incompetents.
There are many skilled, competent, and above-board South Africans and friends of South Africa, most currently living abroad that would be perfect for this platform, as “custodians for the future of South Africa”.
I am happy to name a few of my favourite candidates:
Mick Davis, Richard Gnodde, Bradley Fried, Jacko Maree, Vincent Mai, Divesh Makan, Strive Masiyiwa, Mike Brown, Mark Bristow, Jan du Plessis, Mervyn Key, Whytey Basson.
Yes, this is a form of privatisation but what option do we have?
We have 77 days and counting …
Today, I stand before you, not just as a speaker, but as a fellow citizen, deeply invested in the prosperity and resilience of our beautiful country.
In the heart of our beloved nation, amidst the breath-taking landscapes and the vibrant tapestry of cultures, lies a resilience and spirit that is uniquely South African.
Today, as we gather here at BizNews’ BNC#6, we stand at a crossroads, with the future of our nation in our hands.
The path we choose on May 29th, will not only define the next chapter of our story, but will also shape the legacy we leave for generations to come.
But we are on a precipice. We are staring into the abyss.
And it is a therefore a moment that demands courage and unwavering commitment from EVERY ONE of us.
We have 77 days and counting …
For three decades, our nation has navigated through turbulent and treacherous waters with for the last decade a conniving, criminal, corrupt ANC at the helm.
“Nations do not die from invasion; they die from internal rottenness.” These words by Abraham Lincoln resonate deeply with our current predicament.
It’s a reminder that the fate of our nation now lies not in the hands of those who govern, but in the hands of its people.
It is up to us, the business leaders, civic society, the innovators, the thinkers, and the doers, to steer South Africa towards a brighter future.
Success is a collaborative effort. The myth of the self-made man is just that, a myth. Embrace the idea that we are all interconnected, and our achievements are a collective effort.
I have been speaking up for years now – to the detriment of my businesses, to the unease of my family. I implore to you today to join me and do the same – the time is now for all of us to speak up and call out evil!
We have 77 days and counting …
The first step towards this future is acknowledging our strengths.
South Africa is a nation brimming with potential. Our natural resources are abundant, our people are resilient, and our business acumen is unmatched.
The world looks to us for diamonds, gold, platinum, and more.
But beyond these tangible assets lies our greatest resource – the diverse and dynamic people of South Africa.
To harness this potential, we must embrace innovation and technology.
The Fourth Industrial Revolution is not just a buzzword; it’s a reality that we must integrate into every aspect of our business strategies.
From agriculture to manufacturing, from services to finance, using technology we can leapfrog traditional stages of development and position South Africa as a global leader.
Nelson Mandela said, “education is the most powerful weapon which you can use to change the world.”
We must radically transform our approach to education and skills development, prioritizing STEM fields, and digital literacy.
And develop an environment where entrepreneurship flourishes. Business should lead, businesspeople lauded as heroes, and not be denigrated as the scapegoats of destructive socialist ideology.
Small and medium-sized enterprises are the backbone of any economy.
By supporting SMEs through funding, mentorship, and policy reforms, we can create jobs, spur economic growth, and reduce inequality.
And, of course, we must ditch BEE and EWC!
We have 77 days and counting …
The most important change, which would unlock this country’s long-withheld potential, is addressing ANC corruption and ANC bad governance.
This is non-negotiable. And this cannot be done with the ANC remaining in government. Even as the largest party in a coalition.
Integrity, transparency, and accountability must be the hallmarks of businesses – and government. These will never exist within the ANC. Never.
As business leaders, it’s incumbent upon us to set the standard, to lead by example, and to demand the same from our peers and our political leaders.
Therefore, we all must speak up and do it now, before it’s too late.
We have 77 days and counting …
Ladies and gentlemen, business leaders of South Africa, political leaders of South Africa, the journey ahead is fraught with challenges.
But within each challenge lies an opportunity. An opportunity to redefine what it means to be South African.
An opportunity to build a nation that is not only rich in resources but rich in innovation, rich in possibility, rich in hope.
As we look towards the next 4 years, let’s all commit to a vision of South Africa.
A South Africa where every citizen, regardless of their background, can thrive.
A South Africa that does not drive its people abroad because they are scared, because they have lost all hope. A South Africa that is not defined by its past struggles but by its future successes.
A South Africa we can all be proud to call home.
Desmond Tutu said: “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.”
Together, we must do our bit of good to effect change, and that change must come on May 29th.
Together, let’s build a future that generations to come will look back on with pride.
And a South Africa we can all be proud to call home.
Our incredible Springboks won by one point in the quarter final last year, one point in the semi-final, and a mere one point against the mighty All Blacks to win the RWC Final. All we need is 51% May 29th so could Herman, Corne, Mmusi, Velkosini, John and Gayton please team up, find a Rassie, and go out and get us that win!
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