Billionaire Patrice Motsepe emphasizes the importance of holding the government accountable and encourages open discussions to drive improvement.
- Motsepe made these remarks during the presentation of African Rainbow Mineral’s (ARM) financial results for the 2023 fiscal year.
- ARM, a mining company, experienced a significant decline in profits due to logistical constraints caused by Transnet’s deteriorating performance.
- The company’s revenue dropped from R18.41 billion in 2022 to R16.10 billion in 2023, with a year-on-year profit decrease from R14.36 billion to R9.32 billion, representing a decline of over 30%.
- Motsepe and ARM’s management team are actively engaging with Transnet to collaborate with the private sector in order to improve the utility’s performance.
- While advocating for forthrightness in criticizing the government, Motsepe suggests that such discussions should take place behind closed doors, as public criticism may not effectively influence government policies.
- Motsepe emphasizes that no one, including himself, is exempt from criticism, highlighting the importance of leadership being open to evaluation and improvement.