Fin24

Don't bank on political ties - Sexwale

2012-11-07 18:03

Johannesburg - Business should not rely on political connections for success, Human Settlements Minister Tokyo Sexwale said Wednesday.

"There is no quick fix to business with reliance on political networks of who knows who," he said in a speech prepared for delivery at the Zimele Conference on Enterprise Development in Midrand.

"In entrepreneurial development there is no substitute for hard work, which is a measure of success."

He said no self-respecting business person would want to be known for relying solely on government contacts and political networks.

Entrepreneurs needed to take a stand against corruption.

South Africa's fragile economic situation was further exacerbated by ratings agencies, Standard & Poor's, and Moody's, downgrading the country's credit ratings.

"This has had a further knock-on effect upon sub-sovereign issuers, including metros and other municipalities and state-owned enterprises, all regarded as financially linked to the national government."

Due to these downgrades, South Africa had effectively moved out of the A and into the B-league.

Through the downgrades the agencies were on the brink of warning financiers to be cautious in handing funds to the government in particular.

"This situation has the negative outcome of putting a damper to our much- needed economic recovery as the cost of capital and that of servicing our national debt has increased."

This had further consequences for capital spend, which was critical for national infrastructure development projects.

He said support and development of small and medium enterprises had to be encouraged for economic growth.

Comments
  • larry.piggott1 - 2012-11-07 18:19

    Tokyo is not the guy to talk. He got what he has from being the connection, not just dealing with one.

      charlesbronson.bronson - 2012-11-08 07:56

      Zuma (e-toti) you are the most corrupted lying thief!!!!

  • rhyno.vermaak - 2012-11-07 18:29

    Says the man who invented the concept...

  • ede.klerk.5 - 2012-11-07 18:31

    Who is this guy fooling?? That is exactly what he has done to make his so-called "fortune" Now he preaches to others. Typical of the breed.

      helmut.smrz - 2012-11-07 18:47

      What an A hole,whom he want's to fool

  • khethu.ndlovu.3 - 2012-11-07 18:53

    Say anything and everything comrade tokyo please, but never, never say this, not you.

  • qhama.bona - 2012-11-07 19:13

    I couldn't agree more with Tokyo Sexwale. Business must never be reliant on government contracts to be successful. I've always been a believer that people who deal with tenders are not entrepreneurs in the true sense of the word. When you dealing with tenders there are is innovation and creativity instead tenderpreneurs rely on their political connections which is corruption of the worst kind. However I also challenge Mr Sexwale to urge his government to make it a lot easier for up and coming entrepreneurs. It is no secret that the red tape to opening a business in SA is just ridiculous. There is also the problem of the rigid labour laws that Cosatu seem so hell bent on preserving. That makes it extremely difficult for businesses to employ people so they resort to using more machinery. Government also needs to create a lot of entrepreneurs in the informal sector. There are thousands of young people beaming with innovative ideas that would contribute positively to the growth of our economy and make a serious dent in our appalling unemployment figures. With the appropriate funding that will filter through to the people with the best ideas and not some politically connected bigwigs, these funds would go a long way to changing young people's lives for the better. In order for this to happen there has to be an agreement with all the stakeholders then we can have a booming economy that can create jobs. But I'm not sure if the powers that be have the will to see through these plans.

  • zimbobwe.mugabe - 2012-11-07 19:20

    You came out of prison with no cent on your name but today you are a millionare. How did you do it??? Maybe you should put your blueprint on this site for all to see how you earned the millions without any political connections.

      sedick.gydien - 2012-11-08 01:29

      He is not a millionaire. He is a BEE Cadre Billionaire!!!!!

  • ndyeboreginaldmazawule - 2012-11-07 19:21

    I might not have proof but Tokyo had ties in politics now he's saying this NO NO NO.

  • peter.strydom.37 - 2012-11-07 19:28

    Do I detect a sense of concern, today the white man is the "fall guy" guess what, the affluent black guy is next. The masses do no want success, welcome to the club Mr Sexwale.

  • john.m.mcdowall - 2012-11-07 19:29

    Fat one to talk. Multibillionaire from doing eff all

      john.m.mcdowall - 2012-11-07 19:30

      Affectionately known as 'struggle credentials'

  • Shane Prins - 2012-11-07 19:47

    look whos talking, is this an april fools joke?

  • Lionel Simmers - 2012-11-07 19:51

    Pot calling the kettle black

  • obadia.segwape - 2012-11-07 19:56

    I AM DIFFENTLY CONFUSED NOW

  • Lionel Simmers - 2012-11-07 19:58

    This guy built a multi-billion rand empire from the ground on up ... huh, wait who's joint is this in my hand?

  • mark.haupt.31 - 2012-11-07 20:02

    It worked for you, didn't it?

      RudiErnst - 2012-11-08 23:00

      Not much space for newcomers in the struggle credential arena - needs to protect his turf. Losing credibility quickly.

  • joe.smit.549 - 2012-11-07 20:05

    Above average intelligence. Obviously hit on the back of his head with one of his own nanchukka sticks. Or whatever you call those things!

  • dumisani.mbense - 2012-11-07 20:14

    Fat lier,now all of a sudden he understand that.Mr Tokyo please tell us how did you become so rich overnight?I'm sure it's not only drugs.

  • Mike Peach Purchase - 2012-11-07 20:14

    On a different subject why does news24 have to work in conjunction with a persons facebook account where your personal info could be compromised.

  • toi.mtshali - 2012-11-07 21:39

    How Rich is this Mr Tokyo. Mr Hypocrite it worked for you.

  • AnthonyfromAfrica - 2012-11-08 04:13

    . The most dangerous guy in SA politics! He has ALL the ingredients to be a great.............DICTATOR !! The gaddafi of the South !!!

  • eyesears.handsfeet - 2012-11-08 07:43

    sexwale already campaining for himself, trying to fool the working class public?

  • matthews.magodiela - 2012-11-08 07:52

    Sorry minister, it seems your political timing is not correct. Just go back to the business. You can only bribe your close allies with your money but you cannot fool people of Mzansi.

  • nigel.vanysendyk - 2012-11-08 08:05

    Tokyo, for us to get back into the A league, you should shut your corrupt friend up, Julius Malema, who is rapidly downgrading the country & it wont be long before his actions send us to the c & D league, you should rather stop talking with a forked tongue like a snake in the grass, besides what do you know about hard work, your connections made you rich, hamba

  • melody.deandrade - 2012-11-08 08:59

    small and medium enterprises are being overrun by the illegal chinese shopkeepers. They are not supporting this economy but rather fuelling our downgrade. Tantamount to theft of our vibrant vendor economy which so many families relied on for income, now they are jobless and relying on handouts from the government. We deserve to be downgraded and can only be upgraded when the government stops corruption at Municipal levels as well. We need good governance measure in place and only the DA has been able to provide that thus far in the Western Cape

  • zaaristotle - 2012-11-08 10:42

    "...want to be known for relying solely on government contacts..." - So it's ok to know and use some contacts? In any case, this is quite rich coming from someone who has been there, done that, and got the millions to prove it.

  • mathamso - 2012-11-08 10:45

    Patrice Motsepe booked a Table close to JZ for R500 000.... you mean that Toyko or just the Mpisane's?

  • rob.bayliss.94 - 2012-11-08 12:39

    I despair when I read such comments! "In entrepreneurial development there is no substitute for hard work, which is a measure of success." Entrepeneurial success is not about hard work, it is about maximising results for the minimum amount of input. Not HARD work, but Intelligent effort. This guy should know better!

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