Insights
By: Reyneke Van Wyk
Commitment to a better future for South Africa fuels business success – Reyneke van Wyk
Building businesses right paves the way to improving social challenges
“Those businesses that do well in South Africa are run by people who want to invest in the country and participate in its transformation into a new era of inclusive growth”, says Reyneke van Wyk, Head of Stonehage Fleming’s Investment Division in South Africa.
“Thinking of our own client base in South Africa, there is a clear sense that to be successful here is to collaborate for the common good – for all sections of society – and pave the way for a better country for all”.
Due in part to the comparatively low input costs, South Africa can provide a competitive edge that many, according to Reyneke, believe would be difficult to achieve elsewhere in the world. “Understanding the South African market and the wider African context as they do, many people I speak to believe there is simply more opportunity here than in the developed world where competition can be so fierce. And they want to be part of that journey, to unlock the potential of the country they love”.
As large multinationals continue to invest in the region, it seems that the rest of the world too is buying into the vision of a new era for South Africa. Amazon’s announcement to open its new African headquarters in Cape Town is one such example. Despite recent opposition to its construction from environmental and heritage groups, the move heralds a new phase of economic development for the region. So too, the recent opening of South Africa’s newest stock exchange, offering dramatically lower listing costs than the Johannesburg Stock Exchange, promises to attract an influx of new business from across the continent.
Crime, unemployment and poverty remain very real issues for the communities in which business owners operate in South Africa. However those who are committed to the country, says Reyneke, “believe – through building businesses the right way – we are on the path to improving these social challenges. Businesses like UCT Online High School understand the importance of education in this regard and are bringing in a new era of accessible learning. None of this will happen overnight and there is a long way to go. However, tackle poverty, education and unemployment and ultimately crime will start to go down enabling South Africa to move towards a brighter future”.