Alec Hogg: Corporate SA is reaping its ANC cadre deployment sowing

After democracy was installed in 1994, shareholders of corporate South Africa had a one-off opportunity to invest in the upliftment of the many. There were many global examples to draw on. Among the regular visitors to SA was Ratan Tata, then CEO of the Indian conglomerate, who urged SA companies to follow Tata's community trust-based ownership approach. One which has uplifted tens of millions in the sub continent..Also read: Alec Hogg: Stocks soar as Mr Market excited by likely US election result.Big business took a different path. Instead of spreading the love, SA corporates chose expediency by co-opting ANC deployed cadres in the name of creating "Black business role models". Critics of the approach were usually referred to ANC head of policy and later spokesperson Smuts Ngonyama's November 2004 clarion call that "I did not join the struggle to be poor.".There is much to admire about Jeremy Ord (above), who together with a group of school pals from Joburg's Rooseveld High created and built Dimension Data, the boom-bust-boom multinational tech group. After the dot-com bubble burst, Ord gritted his teeth to guide the business through some very dark years, rebuilding it from near bankruptcy to the point where it attracted a 100% buyout by Japan's NTT..___STEADY_PAYWALL___.Also read: Dan Nicholl talks Business Unknown with Jeremy Ord.This weekend Ord and his company were branded as racists in the Sunday Times's front page splash. His achievements forgotten because of very public allegations by one of those ANC-deployed "role models". A former bureaucrat, he pocketed half a billion rand during a dozen years as DiData's chairman. His lawyers are demanding another quarter billion from the company and Ord personally, because of alleged racial discrimination. As you sow, so shall you reap..For your attention today….WEBINAR ALERT…..* A crackerjack Rational Radio webinar in the offing at noon today when Capitec CEO Gerrie Fourie will be our guest. Quizzing him – David Shapiro and SA's top financial sector investment analyst, Kokkie Kooyman. Exclusively for Premium members. Click here to register: https://attendee.gotowebinar.com/register/6730147365502274830.* And then on Wednesday at noon we get to hear how to get a US Green Card from Matt Hogan, a VP with CMB Regional Centers, which for over 20 years has been securing EB-5 visas for those who want to live in America. Click here to register: https://attendee.gotowebinar.com/register/2883703850607113232.FOR DOWNLOADING….* If you like to consume your news through a combination of old style layout and clickable links, you'll love our most recent innovation. The latest BizNews Digest PDF is a cracker – and is now available to read or for downloading. To see why thousands of BizNews community members love it so much click on this link: https://bit.ly/3et8qf4.* If you follow the top performing BizNews share portfolio, be sure to listen to the latest episode of my Inside Investing podcast featuring in-depth discussions about Apple, Amazon, Naspers, Orbvest and Richemont. Here's the link: https://www.biznews.com/global-investing/2020/11/04/inside-investing-tech-stocks.DOWNLOAD THE FREE BIZNEWS.COM APPClick on the links below to download your own Biznews.com App:.Apple: https://apps.apple.com/za/app/biznews-com/id1517392839.Android: https://play.google.com/store/apps/details?id=com.goodbarber.biznews&hl=en

Alec Hogg: Corporate SA is reaping its ANC cadre deployment sowing

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