Author and Activist
My response to Johan Fourie, Economics Lecturer of Stellenbosh University:
We were all disappointed in the firing of South African Finance Minister, Nhlanhla Nene. To date he seems to have done little wrong in handling a really difficult situation that he has inherited. However we do not all share the despair of your blog, "The Dam wall has given way" .
Johan I have been a lecturer and while the perks and the short working hours may seem like a win, sadly taking the King's shilling will trap you into subservience to the regime. When all are losing their heads around you, if you can keep yours you will be a very rich man my son. The opportunities do not lie in working for the Government or looking for a tender opportunity. In a market of high unemployment the last thing you want to be doing is look for a job. As we all fall over the fiscal cliff the thing you want to be more than anything else is - a tax payer. While the rest of them Que for handouts and jobs, the tax payers will be going business class!
Given the current situation, there is a lot one can do....
You have only to look at the recent Sunday Times Rich list to see the effect that 2015 has had on the rich, who have mostly done very well out of the current fortunes of South Africa. In particular the richest South African, Christo Wiese, has done better for himself than any other year in his 60 years of business, having raised his personal fortune to over R 100 Bn. In fact it would seem that anyone that has had a South African Base with International interests has done rather well this year.
The advantage of a flexible exchange rate system is that business opportunities can change rapidly. South African graduates can now be employed at less than $ 1000 per month. This is akin to wages in Bangladesh, except that you can employ Afrikaners and Zulus at this rate! Even the dumbest of entrepreneurs have to be able to exploit South Africans at this rate. All you need is a product that can be exported or replace a foreign made import. The Internet puts global business in the reach of even the smallest entrepreneur. I cannot remember when in the 21st century, it has been better to start a global business.
Give the following advice to your students:
Employ some of your classmates, choose from the plethora of opportunities and start exporting. To see how its done, download a free copy of TurboCASH Accounting and start getting your head around what has to be done to be financially successful.