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Sean Wibberley. Picture: Supplied
Sean Wibberley. Picture: Supplied

Sean Wibberley, CEO, Weaver Fintech, Finchoice Africa and Homechoice International

What’s your one top tip for doing a deal? 

Aside from thoroughly preparing, and knowing what your walk-away threshold is, it is important to close your eyes and ask yourself whether you feel comfortable doing business with this person. You must trust your instincts.

Sean Wibberley: CEO Weaver Fintech, Finchoice Africa and Homechoice International
Sean Wibberley: CEO Weaver Fintech, Finchoice Africa and Homechoice International

What was your first job? 

I had a six-week apprenticeship vacation job with High Voltage Construction in Harare, which met part of the requirements for my electrical engineering degree.

How much was your first pay cheque, and how did you spend it? 

For the vacation job I was paid a whopping Z$340. At the time this was about R300. One beer cost Z$1.15 then, so I was able to keep myself and my friends in good spirits over that period.

What is the one thing you wish somebody had told you when you were starting out? 

You often know a lot more than you think you do, and others don’t necessarily know as much as you think they might. Be confident in your ability to make things happen. 

If you could fix only one thing in South Africa, what would it be?  

The streamlining of state capture prosecutions.

What’s the most interesting thing about you that people don’t know? 

I can put my hands together and mimic the cooing of a dove … ha ha. And I’m a fan of progressive techno music. 

What’s the worst investment mistake you’ve made? 

While studying an MBA exchange programme at UCLA, I invested a precious $1,000 of my last savings in a digital company whose business model I reasoned had huge growth potential. Two months later the share price had doubled. Then, a month later, the dot-com bubble burst, and the shares were worth a fraction of what I had paid. Goes to show that even if you invest in a compelling stock, market events can scupper your plans. 

What’s the best investment you’ve made? And how much of it was due to luck? 

I took a calculated risk to buy a property for half the asking price due to the building having severe waterproofing issues. Over the next few years I was able to afford refurbishments, and it is now worth six times what I paid. The luck was in finding that property in the right neighbourhood. 

What’s the best book you’ve read recently and why did you like it? 

Exponential Organizations by Salim Ismail. This book really crystallised for me how leveraging data and digitalisation can scale a company by 10 times the performance of its analogue competitors. 

What is the hardest life lesson you’ve learnt? 

When going through very dark and tough times, personally or in business, I have learnt not to be tempted to shy away from the emotional pain. Look at it head-on, make friends with it, swim with it, understand it, learn from it — the pain will get smaller, and you will grow from a solid and real foundation.

What phrase or bit of jargon irks you most? 

I tend to smile and be sceptical when hearing people use phrases that are stated as fundamental in an attempt to make a clever or concise argument. For example, you often hear the seemingly self-evident statement “Too many cooks spoil the broth”, and yet we all know that “many hands make light work”. I guess my favourite phrase is “A pithy saying proves nothing”.

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