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Make Money Mondays

'ANC has good policies, but implementation is lacking and corruption is endemic'

27 July 2020 8:28 PM

Bruce Whitfield interviews former ANC MP Saki Macozoma about his attitude to money (hopes and fears, successes and failures, etc.)

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 former ANC Member of Parliament (MP) Saki Macozoma.

Image credit: www.safika.co.za

More articles from this feature:


Macozoma is the executive chairman of Safika Holdings, Tshipi é Ntle and Ntsimbintle Mining, group chair of Vodacom and a director of Volkswagen South Africa.

Born in Port Elizabeth, Macozoma studied political science, economics and journalism at the University of South Africa (Unisa) and Boston University in the United States.

Arrested as a teenager for anti-apartheid activities, he spent five years as a political prisoner on Robben Island where he met President Nelson Mandela.

Following his release from prison in 1982, he played a leading role in the formation of the United Democratic Front and the Mass Democratic Movement.

In 1994, Saki became an ANC MP.

He resigned two years later to become Transnet’s first Black managing director.

  • What is it that Macozoma believes about money?

  • Does it keep him up at night?

  • Does he spend like crazy or save compulsively?

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

We need money to facilitate activities of various kinds. But when we elevate it to a thing we worship; it becomes a problem… The love of money is the root of all evil…

Saki Macozoma, Chairperson - Safika Holdings

Many! [when asked if he’s made any money mistakes] … It’s important to make sure you don’t repeat mistakes… You have to accept that you’ll win some and lose some. I’m not going to fret about that.

Saki Macozoma, Chairperson - Safika Holdings

I like wine. I buy books and music – probably my greatest personal item expenditure… Travel is another one. But I justify it to myself as being therapeutic and educational…

Saki Macozoma, Chairperson - Safika Holdings

We are experiencing technical problems with audio. Listen to the interview below - as soon as we've sorted out the gremlins.

How do we change the situation? … What is required is to change the electoral system…

Saki Macozoma, Chairperson - Safika Holdings

I don’t believe there’s anything wrong with the policies of the ANC… What is the problem is the politicians who have volunteered to become leaders… the implementation of those policies [is lacking] … the theft makes me fume! The theft is actually the real problem…

Saki Macozoma, Chairperson - Safika Holdings

[Corruption in the ANC] has become endemic. Factionalism in the ANC – when a leader needs to be elected, they have to make alliances with all kinds of creepy crawlies… You then have to reward them with positions…

Saki Macozoma, Chairperson - Safika Holdings

President Ramaphosa has the intention and will to deal with corruption, but some of the people who put him in office are the people who are leading the looting…

Saki Macozoma, Chairperson - Safika Holdings

… Money is a reward for doing your best…

Saki Macozoma, Chairperson - Safika Holdings

I accept that [investing] is not my area of expertise…

Saki Macozoma, Chairperson - Safika Holdings

I should be thinking about downsizing, but I can’t imagine myself living in a flat again…

Saki Macozoma, Chairperson - Safika Holdings



27 July 2020 8:28 PM

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