By Alec Hogg
Since arriving in London last May, among the more obvious learnings is how well South Africans travel. Their often turbulent, ever transforming country prepares its sons and daughters rather well for a world now feeling the winds of change. Highly marketable skills, and a Calvinistic work ethic makes them prized employees and contributing citizens.
But it is at the very top end that global South Africans really thrive. Even though he is just 45, Pretoria-born Elon Musk’s entrepreneurial escapades have already earned legendary status in his new Californian home. The two year younger Roelof Botha, who was Musk’s financial director at his first really successful venture PayPal, is on a similar trajectory.
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Botha was this week elevated to become one of three stewards at Sequoia Capital. The higher profile is sure to put fresh media attention onto the former UCT actuary who topped his Stanford MBA class. Specifically his being the grandson of the last Apartheid-era Foreign Minister, the long-serving and now 84 year old Pik, after whom he was named.
Before revisionists get their teeth into history, it’s worth revisiting the facts: Pik was the Pravin Gordhan of his era, an often-isolated force for change within a comatose National Party. He was the most obvious loser in 1985’s infamous “Rubicon” speech.
After agitating for change and seemingly getting cabinet to agree, Pik lined up the foreign media and ambassadors of Western governments to witness what was supposed to be a momentous announcement. But at the last minute, his Zuma-like boss PW Botha tore up the script, dropped all the important reforms, and refused to cross the Rubicon.
The global response was harsh and immediate. Spurred by a sudden escalation in public opinion against the Apartheid state, foreign lenders demanded immediate repayment. That forced South Africa into a debt standstill and then a deal where it was given five years to export capital to repay that debt. These outflows sent interest rates to 25%, caused an economic meltdown and, belatedly, forced the Nats into a negotiated settlement.
All of this happened when the newest star of Silicon Valley was in primary school. But given the family connection he is sure to have paid attention. In an interview with Afrikaans radio station RSG last year, Botha’s affection for his family in South Africa shone through.
But his disappointment with the country’s current political leadership was evident: “I’m worried that we’re moving from a democracy to a kleptocracy. The impression I get as someone living abroad is that the government isn’t focused on improving the welfare of the average South African. This makes me very sad.” Asked if he could see a future when he’d return to live in the country, Botha’s answer was short and sharp: “No”.
That’s the saddest part of this story. Exceptional talents are always likely to leave small ponds for bigger seas. They have a disproportionate influence on those they meet there. Botha’s perspective reflects another negative of Zuma misrule. Roll on 2019.
