It
seems that our coffers have been subjected to a feeding frenzy.
First
you had the upper class, and connected ANC cadres being treated to a
feast of "frenzied feeding" in the early years of 1994.
"Non-compliant" companies agreed amongst themselves, that
they should be BEE "compliant", for obvious reasons, and
offered shares to to "others", to become BEE compliant.
Then there were the more astute international shareholders who
decided that the "writing was on the wall", because such a
corrupt and unconstitutional piece of legislation was "the
beginning of the end", and left them in a "wait and see"
position.
Let
me explain how these deals were struck. The Public Investment
Commission ("PIC") had appointed "independent
intermediaries" who identified individuals and NGO organisations
that were eligible for these deals, to say the least.
They
identified individuals who could, through their connections,
influence how these individuals could influence key acquisitions,
economic and buying decisions in the future. These "independent
intermediaries" approached certain individuals, and to a lesser
extent NGO's, and upon getting their agreement would "include"
them in these deals. The NGO's were included as a kind of "tokenism".
However, the NGO's had a strong ANC bias. It all had ANC connection
written all over it. Some individuals, not believing their luck,
would suggest others, like friends and people they wanted to obtain
commercial favours from. It was a frenzy of feeding of note. Many,
many deals were struck on this basis. I witnessed some of them.
The
"new shareholders" simply had to sign a piece of paper (an
agreement whereby the PIC would put up the funds, and take a pledge
of the shares that were being funded) and "viola", instant
millionaire.
It
all seemed all well and good at the time as the "previously
disadvantaged" were being given a push up the wall as South
Africa celebrated its march from apartheid to democracy.
Unbeknown
to the majority of us South Africans, a critical disease was
manifesting in our society. It is called entitlement. Perhaps it is
an African disease, of which we were not aware, but unfortunately, it
first afflicted the ANC.
These
were dizzy times for a few unfortunate, or fortunate, depending on
your point of view, but nevertheless, it saw a frenzy of feeding. All
I had to do was sign my signature, and in 5 years time, I would be
wealthy beyond my dreams, or my expectations. Favours were repaid
with extravagance.
In
the meantime the "not so favoured" had observed the lavish
favours poured onto the favoured and they became afflicted by the
same disease.
So
what these individuals did was see their positions of "power"
become a means of raiding the coffers.
At
the lower end, petty thieves, controlled by syndicates, raided our
homes to see what "scraps" could be obtained.
No
PIC deals were struck, but the principle remained the same, "Just
put your signature on this piece of paper" and your problems are
over.
Our
current society is seeing rampant entitlement and it is no surprise
to me.
A
little bribery here, a little "overspending" there, but if
the majority are afflicted, how do you stem the tide?
I
can tell you with a great deal of certainty, it is not going to be
the ANC who have no any interest in stemming this affliction.
"Entitlement" is not included in their rhetoric.
Just
take what is happening in Limpopo. The ANC have admitted they are
bankrupt there. The feeding frenzy there has given rise to master
petty feeders like Malema. Do you understand what this means? It
means that they have hugely overspent. They cannot account for their
spending. The Minister of Finance is flummoxed by their spending
behaviour.
Do
you know what this means? This means that the rest of us in South
Africa have to make up the deficit. Why? Because we have bred a
nation of people who believe they are entitled.
In
sociological terms this is a "disaster waiting to happen".
How many other provinces are in the same position? How many
municipalities are in the same position (bankrupt - take the City of
Johannesburg for example). All because the lucky few indulged
themselves at the expense of the poor.
What
should happen is to undo those "deals" whereby the
politically connected (entitled) were enriched at the expense of the
poor. Only the PIC can unravel that mystery.
In
any frenzied feeding, the bigger sharks go in first, then the medium
sharks go in, and then the smaller sharks pick up the scraps.
The
frenzy continues, and in my view this is because the ANC have lost
their moral compass. They lost it when they passed legislation that
was discriminatory, Just as the National Party did.
At the end of a feeding frenzy there are a lot of indigestion problems. Perhaps we are witnessing it now.
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