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Archive for the ‘Business’ Category

Thami Mazwai: Black-owned Businesses Must Learn from “Vision” of Sam Motsuenyane and Nafcoc

A Legacy of PerseveranceA Testament of HopeIn a column for the Rand Daily Mail, Thami Mazwai, executive chairman of Mtiya Dynamics, praises the “vision and tenacity” of Sam Motsuenyane’s National Federated African Chambers of Commerce (Nafcoc).

In the piece, entitled “Blacks must stop relying on the state”, Mazwai points out that 40 percent of small businesses in Diepsloot are owned by foreigners, and insists that South Africans are too eager to sit back and wait for handouts.

Although he admits that Nafcoc is faced with problems in its current incarnation, Mazwai says the body is responsible for growing a culture of entrepreneurship.

[President Jacob] Zuma’s pain is understandable as he laments (his comments are edited): “(Black) South Africans have become dependent on the state. Foreigners come to SA, see opportunities and thrive.

“People wait for government. They are not used to standing up and doing things. Hence, foreigners have taken over the small businesses.”

Zuma must be applauded for such frankness. Whispers and comments about the entitlement syndrome in the black community are commonplace. Worse still, it is the small business associations in black communities that lead the chorus in calling on the government to do this and that. We sincerely need the vision and tenacity of Sam Motsuenyane’s National Federated African Chambers of Commerce (Nafcoc), which — under difficult circumstances — produced the Richard Maponyas of today.

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A Legacy of Perseverance Launched to Coincide with the Celebration of NAFCOC’s 50th Anniversary

A Legacy of PerseveranceNhlanhla Mthembu has written an article, for Durban Zone, about the launch of A Legacy of Perseverance: NAFCOC – 50 Years of Leadership in Business by Kwandiwe Kondlo.

The book was launched at the Durban International Convention Centre. It details the founding of National African Federated Chamber of Commerce and Industry and the organisation’s development since then.

The launch coincided with NAFCOC’s 50th anniversary celebrations.

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“The book traces the evolution of NAFCOC before 1964, examining it foundation and development from 1964 onwards,” Prof. Kondlo said.

“One needs to understand the meaning of each historical period the organization went through, and hence the approach I have used to provide background and context is one some scholars would refer to as ‘periodised political’ or ‘political historical’ approach,” added Prof. Kondlo.

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Wiseman Nkuhlu: “There is a Lack of Trust Between Government and Business”

Wiseman NkuhluUniversity of Pretoria Chancellor Professor Wiseman Nkuhlu addressed the South African Chamber of Commerce recently about the lack of leadership within the government, which he believes is hampering economic growth.

“There is a lack of discipline and government is not taking the tough decisions needed,” Nkuhlu said.

Luvuyo Wotshela’s 2014 biography entitled, Wiseman Nkuhlu: a life of purpose, follows the life of Nkuhlu, who was imprisoned by the apartheid government at the age of 19 and eventually overcame all obstacles to realise his dream of becoming the first black chartered accountant in the country. Nkuhlu was also former President Thabo Mbeki’s economic advisor.

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Nkuhlu said government and business had to work together to eliminate poverty.

He said that there was a lack of trust between business and government.

“Unless there is real trust… the country will not be able to grow. There is a lack of trust between government and business,” said Nkuhlu.

“Trust has to come not only through government policies but conversations need to be open between government and business.”

He said business must have the courage to talk “straight to politicians” and to be forceful.

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Kwandiwe Kondlo Presents NAFCOC’s Story of 50 Years of Leadership in Business: A Legacy of Perseverance

A Legacy of PerseveranceA Legacy of Perseverance: NAFCOC – 50 Years of Leadership in Business by Kwandiwe Kondlo is now available from KMM Review Publishing:

In 1964, amidst a climate of oppression and intimidation, arose an entity that would become a giant of Black South African empowerment – the National African Federated Chamber of Commerce & Industry (NAFCOC). In the 1940s, with the need for an organisation for informal black traders, the Orlando Traders Association was formed. However it was not until, after the Sharpeville uprisings,that NAFCOC was formed despite vehement objections by the government to the formation of a multi-ethnic chamber of commerce in South Africa.

NAFCOC, as the voice of black business, became a vehicle for economic prosperity for a generation relegated to the sidelines of economic development by an unjust apartheid government. Black people were so marginalised that they were limited to operating subsistence-type businesses outside the mainstream of the economy. It was only in 1979 that black businesses were allowed to operate in designated black areas only, due to concerted efforts by NAFCOC.

At the very core of NAFCOC ‘s existence is the creed “Rise in Faith” and this most certainly held true for those pioneering, founding fathers of NAFCOC. They held out for and held onto a vision where one day Black people would enter the mainstream of the economy of the country.

This book is not just a celebration of 50 years of NAFCOC. It is also tracks the fight for political and economic freedom, long before the reality of a democratic government in 1994. It tells how NAFCOC enabled black business; how black business not only survived, but thrived against a backdrop of an unequal racist society.

There are not many organisations that remain standing after 50 years – that NAFCOC has not only managed to do this, but continues to play a significant role for a new generation of black businessmen and women assures it of a continued relevance.

About the author

Kwandiwe Kondlo is currently a Professor in the Programme on Leadership for Emerging Economies in the faculty of Management at the University of Johannesburg. He was previously the Director of the Centre for Africa Studies at the University of the Free State. Before that he was the Executive Director of the Democracy and Governance Programme at the Human Science Research Council. He holds an MA from the University of Cape Town and a DLitt et Phil(PhD) from the University of Johannesburg. He is the author and editor of several books including Perspectives on Thought Leadership for Africa’s Renewal (2013), Africa in Focus – Governance in the 21st Century (2011) and The Zuma Administration; Critical Challenges (2010) as well as articles published in various journals.

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Duma Gqubule, Author of Making Mistakes Righting Wrongs, Speaks Out Against the Mining Charter

Making Mistakes Righting WrongsBlack Economic Empowerment expert and author of Making Mistakes Righting Wrongs: Insights into Black Economic Empowerment Duma Gqubule said the mining charter is a “shameful betrayal” of the country’s economic needs.

Gqubule, who is the founder of KIO Advisory Services, told Dineo Faku from Business Report that the government’s requirement that 26 percent of the mining sector be in black hands by the end of 2014 is a mistake.

Gqubule called for an alternative vision for South Africa’s economy:

“Mining is different from other sectors. Unlike restaurants, it is publicly owned because the resources belong to the state and it must benefit all South Africans.”

South Africa has the largest reserves of platinum, chrome ore and manganese ore.

Gqubule said an alternative economic vision had to be found. For example, the state should own 25 percent of mining companies, empowerment entities should own 25 percent, and 7.5 percent must be allocated to employees. He wanted employee share ownership schemes to be improved.

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Justice Malala Honours Sam Motsuenyane and the Tenacious Founders of African Bank

Let Them Eat CakeA Testament of HopeJustice Malala, author of Let Them Eat Cake, has written an article for Times Live about the proud legacy of the people who started African Bank. Sam Motsuenyane, whose biography A Testament of Hope: The Autobiography of Dr Sam Motsuenyane was recently released, is one of these resourceful visionaries.

Malala says that despite the bank’s disastrous meltdown at the hand of the current board, the strength and resolve its founders showed are a fortifying testament to what South Africans are capable of.

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I want you to cast your mind back to the 1960s. The National Party was enacting one heinous discriminatory law after another. Blacks could not own businesses in the major centres. The Group Areas Act was in full swing. The pass laws were being enforced with enthusiasm.

And a group of black men and women decided to start a bank. What courage, what strength, what resolve. The ability to see light in a dark room, to dream of tomorrow in the midst of a nightmare, is one that no oppressive and murderous regime in the world can defeat.

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Video: Sam Motsuenyane Speaks About the African Bank and its Problems, Past and Present

A Testament of HopeFrancis Herd of the SABC spoke with Sam Motsuenyane, the founding chair of African Bank and author of the autobiographical A Testament of Hope, about his opinion on the possibility of the bank sustaining itself: he thinks it can and should be revived.

Motsuenyane says he is uncomfortable with the downgrading of banks, and says that the decision to do so has been repudiated. Although he says this is to be expected in our current economic climate, he is nonetheless disappointed by the turn of events. He speaks about the establishment of the African Bank and what went into establishing it. The negative mindset of many people was one of the biggest obstacles they had to overcome.

Watch the video:
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Duma Gqubule Believes Plans to Centralise BEE Accreditation are Misguided

Making Mistakes Righting WrongsDuma Gqubule, author of Making Mistakes Righting Wrongs: Insights into Black Economic Empowerment, says the public perception of BEE verification certificates is problematic.

Gqubule, who is considered a BEE expert, told Business Report that plans by Deputy Trade and Industry Minister Mzwandile Masina to centralise BEE accreditation will be more difficult to carry out than he realises.

“Masina does not understand the issues in this sector. He is creating panic and uncertainty.

He must talk to his officials; they will tell him what the problems are.”

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A Testament of Hope Author Sam Motsuenyane Calls on Africa’s Billionaires to Save African Bank

A Testament of HopeSam Motsuenyane, founding chairman of African Bank and former president of the National African Federated Chamber of Commerce (Nafcoc), appealed to African businessmen on Thursday, 7 August to support the bank through its current financial difficulties.

Motsuenyane writes in his autobiography, A Testament of Hope: The Autobiography of Dr Sam Motsuenyane, about the hardships involved in establishing African Bank.

African Bank’s founding chairman and former president of the National African Federated Chamber of Commerce (Nafcoc), Sam Motsuenyane, has called on South Africa’s black billionaires to buy the troubled bank and exploit its low share price.

African Bank Investments Limited on Wednesday (Abil) saw its share price sink to a record low of R2.39 after a poor trading update which sent its stock plunging as much as 65%. This saw its market value chopped to R4bn from Tuesday’s R10.3bn, making it vulnerable to a takeover.

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Duma Gqubule to Take Part in the Community Bua Lekgotla in Midrand

Making Mistakes Righting Wrongs: Insights into Black Economic EmpowermentDuma Gqubule, BEE expert and author of Making Mistakes Righting Wrongs: Insights into Black Economic Empowerment, is set to take part in the Community Bua Lekgotla: “Noth­ing About Us, With­out Us”.

The discussion, entitled “Polit­i­cal Econ­omy of Min­ing in South Africa – Towards a Peo­ple’s Min­ing Char­ter, A Per­spec­tive on Com­mu­ni­ties” and Organ­ised by Action­Aid South Africa, will take place on Thursday, 14 August, at the Eli­jah Barayi Memo­r­ial Train­ing Cen­tre in Midrand.

Gqubule’s fellow panelists include Joseph Math­un­jwa, Trevor Ngwane and Math­ews Hla­bane.

Don’t miss this fascinating discussion!

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