Make Money Mondays

A lack of money scares me - Neal Froneman (CEO of Sibanye Stillwater)

Sibanye, from 2013, has increased gold miners’ wages by 65%... it’s starting to impact on sustainability… But I think we’ve arrived at a fair increase…

Neal Froneman, CEO - Sibanye Stillwater

Both of them [parents] came from poor families… My mom [stressed about money] more so than my dad… My mother controlled the purse strings…

Neal Froneman, CEO - Sibanye Stillwater

A lack of money scares me… Watching my parents battle… Not having enough money is a bit of a fear. I’m not obsessed with it [money] but it makes life much easier…

Neal Froneman, CEO - Sibanye Stillwater

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly “Make Money Mondays, Personal Edition” feature.

This week Whitfield interviewed Neal Froneman, CEO of Sibanye Stillwater, South Africa’s largest individual gold producer and one of the 10 most prominent in the world.

The company has been in the headlines of late as it is mired in a five-month strike at its gold operations where nine people have died.

Froneman trained as a mechanical engineer at the University of Witwatersrand.

He maintains his professional registration as an engineer.

He also holds a degree in Accounting Science from the University of South Africa.

He has a two-decade-long career in technical, operations management and corporate development positions at Gold Fields, Harmony Gold, JCI Limited.

In 2003 Aflease Gold appointed him as CEO out of which in 2005 he created Uranium One where he was CEO until 2008.

Neal was influential in building Aflease Gold into Gold One in 2009 through a sequence of reverse takeovers.

He was CEO of Gold One until his appointment as Executive Director and CEO of Sibanye on in January 2013.

Froneman is the Vice President of the South African Chamber of Mines.

  • What does he believe about money?

  • Does it keep him up at night?

  • Does he save compulsively?

  • How did his childhood experiences shape his views on money?

Listen to the interview in the audio below (and scroll down for more quotes from it).

We’ve got a very confident legal position [referring to the ongoing strike]… It’s a tough time for all of us… Between 14 000 and 15 000 [workers are striking]… We produce about 40% of what we normally do… We’re investing in a resetting of a relationship…

Neal Froneman, CEO - Sibanye Stillwater

Everyone is happy with remuneration until they learn what their neighbour earns…

Neal Froneman, CEO - Sibanye Stillwater

My dad was a company secretary who late in life went back to university [he became an auditor]… My mom was a hairdresser…

Neal Froneman, CEO - Sibanye Stillwater

I got good schooling at a government school…

Neal Froneman, CEO - Sibanye Stillwater

Investing and looking after your future is very complex… I know enough to know not to make decisions on my own. In my personal life, I use advisors…

Neal Froneman, CEO - Sibanye Stillwater

Wherever I’ve stepped into another business… I’ve invariably come short!

Neal Froneman, CEO - Sibanye Stillwater

I don’t think I have any bad habits other than spending a lot of money on my hobbies… I’m into long distance shooting… Having a variety of calibres to do that…

Neal Froneman, CEO - Sibanye Stillwater

I like modern cars…

Neal Froneman, CEO - Sibanye Stillwater

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

I haven’t saved. I intend to work well into my 100s - Leon Louw (FMF)

Bruce Whitfield talks to Leon Louw (Free Market Foundation) about his attitude toward money (hopes, fears, successes, failures...)

'Ungratefulness... we’ve already made mistakes teaching our kids about money'

'Ungratefulness... we’ve already made mistakes teaching our kids about money'

Heinz Winckler - the 1st winner of SA Idols - discusses his attitude toward money (hopes and fears, successes and failures, etc.).

'I've been poor. I remember the angst, the depression'

'I've been poor. I remember the angst, the depression'

The Money Show’s Bruce Whitfield interviews Lira about her attitude to money (hopes and fears, successes and failures, etc.).

'I’m a Buddhist. I have respect for the transience of life, and wealth'

'I’m a Buddhist. I have respect for the transience of life, and wealth'

Bruce Whitfield interviews Flux Trends founder Dion Chang about his attitude to money (hopes and fears, successes and failures.).

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).

Popular articles
Understanding Mkhwebane and Ramaphosa's court action over Pravin Gordhan

Understanding Mkhwebane and Ramaphosa's court action over Pravin Gordhan

Tiso Blackstar's Karyn Maughan on the repercussions of the battle between Public Protector and public enterprises minister.

'Fears that Zuma will implicate himself if he answers too many questions'

'Fears that Zuma will implicate himself if he answers too many questions'

News24 assistant news editor, Pieter du Toit on the reasons Zuma testimony was halted on Day 3 at Zondo Commission.

[WATCH] Woman stealing back her stolen car has social media talking

[WATCH] Woman stealing back her stolen car has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

FaceApp challenge has peeps showing what they'll look like when they're 80

FaceApp challenge has peeps showing what they'll look like when they're 80

Khabazela shares tweets and Facebook posts that have gone viral.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Need a loan to grow your small business? There’s a pot of money waiting

Need a loan to grow your small business? There’s a pot of money waiting

Spartan SME Finance provides finance for small businesses. Bruce Whitfield interviews its CEO, Kumaran Padayachee.

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

The rand is trading at fair value. It’s the US dollar that's overvalued. Bruce Whitfield interviews George Glynos (ETM Analytics).

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).