ON THE SPOT
Redefine chairman Marc Wainer has ideas on why business should create jobs, and how
Business Day asks the veteran property investor what he has in mind to reduce South Africa’s unemployment
Veteran property investor and Redefine chairman Marc Wainer used last week’s Reit (real estate investment trust) conference to urge business, especially white companies, to come up with a plan to dent SA’s mammoth unemployment. Business Day asked him what he had in mind. The country has lots of holes, and the two most pressing ones are unemployment and education. Just over 6-million people are unemployed; on an extended basis, over 9-million. Those are the people supposed to be driving our economy. If they’re unemployed, a) the economy’s going to tank and b) we’re sitting on a potential revolution. We’re not going to take unemployment from 27% to zero ... but business needs to do something and if we don’t — this is my point — sooner or later government is going to impose something on us. I suggested that business get together and say: we’re going to employ another 5%. If everybody did it, it would be a level playing field. Ultimately, our shareholders are going to get a slightly low...