Africa-Press – South-Africa. Hendrik du Toit, CEO of Ninety One, has warned South Africa’s government that the country is in danger of losing legal stability, risking capital flight, more job losses, and social unrest.
Du Toit explained that his decision to speak out was prompted by recent events that highlight the human and economic costs of criminality.
“I recently went to the book launch of Jeff Wicks’ Shadow State, which details the systematic corruption at Tembisa Hospital, where billions were stolen while ordinary citizens suffered terrible service,” he said.
“Then we had the cold-blooded murder of lawyer Bouwer van Niekerk. We know many investigators and whistleblowers, including Babita Deokaran, who exposed the Tembisa corruption, have been killed. And yet, nothing is done about it.”
As the founder of one of South Africa’s largest investment management firms, Du Toit said this crisis goes beyond human rights and safety.
He warned that when corruption and impunity engulf a society, asset values are severely impaired.
“We provide retirement savings for hundreds of thousands of South Africans, and those savings depend on rational investment and asset growth. If corruption undermines that, it affects the entire economy and every citizen,” he said.
He criticised the lack of decisive leadership in addressing crime. “What struck me last week was the silence from leadership circles. We have a government that has failed us in many ways, despite some excellent civil servants,” he noted.
“You can fix Eskom, as we’re starting to see, but rolling back criminality and lawlessness is near impossible. That is the red line we must deal with.”
For Du Toit noted that criminality must be dealt with the same urgency as load shedding and Eskom.
“Put proper management into law enforcement agencies. Clean them up. Protect the judiciary. We have an excellent constitution and a top-class legal framework. We cannot and should not lose it.”
He stressed that attacks on lawyers and investigators directly undermine business confidence.
“When a lawyer like Van Niekerk is taken out for doing his job, it affects business. Once obligations cannot be enforced, whether credit or equity investments, value is destroyed. And when value goes, society is impoverished.”
Slow decision-making holding the country back
Du Toit also voiced frustration at the government’s delays in key appointments, pointing to leadership uncertainty at the SAPS and the National Prosecuting Authority.
“In key jobs, you need the right people. Look at how well our central bank is doing because it is well led. Why can’t we do that in other departments?”
“We have one of the largest police forces in the world, yet they lack vehicles and technology, while generals argue amongst themselves. This is not acceptable. Citizens pay taxes and deserve value.”
Despite his criticism, Du Toit said he continues to respect President Cyril Ramaphosa’s leadership abilities but believes political constraints and slow decision-making are holding the country back.
He urged Ramaphosa and his government to show urgency. “We have the money and the resources in this country. We just have to create the framework and stop tripping ourselves up.”
“We should all be willing to participate. Highlight successes, point out failures, and insist on practical solutions. There are towns that have turned themselves around through local activism. We need more of that.”
He suggested even stronger measures may be needed to confront unemployment and inefficiency.
“We should consider declaring a state of economic emergency around jobs. Our legal processes are slow and expensive, allowing corrupt forces to defend themselves endlessly,” he said.
“That has to change. Protecting our legal system from corruption is non-negotiable. Once it’s lost, you never get it back.”
Du Toit stressed that South Africa with all its potential risks being left behind while the world moves forward.
“If lawlessness continues unchecked, if corruption is allowed to fester, it will destroy value, impoverish society, and jeopardise the future of generations to come.”
“That’s why I raised the alarm. It’s my responsibility, not just as a CEO, but as a citizen.”
For More News And Analysis About South-Africa Follow Africa-Press
