Christo Wiese berates govt over flawed policies

Source: Marcia Klein,Fin24, 10/09/1201

Johannesburg - Christo Wiese, South Africa`s richest man, accused the
government of implementing ill-considered policies that are curbing
economic growth and undermining efforts to reduce poverty.


Examples included the introduction of new visa rules that deterred
tourism and bureaucratic procedures that made it costly and
time-consuming for people to access title deeds to properties where
they had lived for decades, according to Wiese, who is worth about
$7bn (R96.74bn), according to the Bloomberg Billionaires Index.


"The one industry where South Africa consistently outperformed the
world since 1994 was tourism," Wiese, 74, said in an interview in his
Cape Town office last week. "Then we impose new visa regulations that
no one can explain, and the effect is immediate. We shoot ourselves
through both feet and then claim unintended consequence."


The visa rules introduced earlier this year require tourists to apply
in person at a visitor centre for travel documents and for all
children to carry a birth certificate with full details of both
parents. The government is reviewing the requirements after the number
of visitors to the country slumped 5.9% to 2.29 million in the first
quarter from the same period last year.


Most South African business leaders have been reluctant to take the
government to task over policy shortfalls that have contributed to a
25% unemployment rate and an economic contraction in the second
quarter, preferring to raise their concerns behind closed doors.


Besides Wiese, others to have spoken out include Johann Rupert, the
billionaire chairperson of Richemont and Remgro, and Simon Susman, the
chairperson of retailer Woolworths.


Deputy President Cyril Ramaphosa defended the government`s economic
policies on Wednesday, telling lawmakers in Cape Town that it had a
clear plan to boost the growth rate to 5% by 2020.


While South Africa`s political leadership was lacking at times, the
problem was temporary and the country could resolve its challenges,
said Wiese, who concluded South Africa`s biggest deal in a decade in
March when he sold his discount retailer Pepkor to Steinhoff
International for R62.8bn.