ON THE SPOT
Growthpoint’s Norbert Sasse on global business, ploughing money back and a better outlook
Growthpoint Property’s international expansion has necessitated a shuffle of top management. Business Day asked Norbert Sasse, now in charge of the firm’s global operations, whether this is a first step to the CEO departure lounge. No. Business Day picked up on that in the investor pre-close call but the emphasis was more to introduce to the market the next layer of managers. The reality is the business has grown dramatically over the past couple of years. I just don’t have the time to get that involved in the South African business anymore and my focus will be more on the strategies which include internationalisation. You want offshore to account for 30% of your business, but we’re now seeing how many South African firms who ventured abroad have come a cropper. Why should it be any different for a property company? Well, back in 2009 was really when we got the first scepticism because not only was it offshore, but Australia in particular. I kept getting asked the question, what are...
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