Anglo American's slow exit from its South African investments: A silent crisis

A FORMER employee of the mighty organisation, Statistics South Africa, Sihle Khanyile, now a graduate of Michigan University, with a Masters in complex sampling had lunch with me last week. He is visiting home and is now based at the Saudi Statistics Authority in the Emirates. He reminds me of my advice to him when he left for Michigan.

- PALI LEHOHLA

He was looking for a specific public lecture and noticed many people heading in one direction. He chose not to follow them, but then spotted a Chinese person and asked the person where the lecture he was looking for was being held.

The Chinese person replied that he was also going there. The two of them went together to a place where few others were headed.

An equivalent and relevant story to Anglo American exit is one of rodents that are kept in the depths of the mine.

The task of the rats is to know when there is carbon monoxide. Long before human beings know it rodents will start fleeing and workmen must not waste time, they must follow with speed for that hails danger. Anglo American is leaving South Africa by increments.

According to sources, a vote is to be held on the 9th of December to consider departure. The date is far closer than the 12 month horizon that was provided for in the consideration of the decision.

The Public Investment Corporation (PIC) has the largest stake Anglo. The PIC also manages the Government Employees Pension Fund so there are 1.6 million public servants in this endeavour and with I am one of the members as a retiree. So, any decision made by Anglo affects me personally. No doubt therefore I have a personal interest in this matter well beyond a broad consciousness responsibility. So, my unease here is both personal and patriotic. I cannot claim to know much about matters finance, however, I have booked enough to be uncomfortable when there is skin irritation. My skin is itchy. My natural response will therefore be to scratch.