Shoprite CEO Worried About South Africa’s Economy

One of South Africa’s retail magnates believes the future of the country’s economy is bright – provided it is managed properly.  Whitey Basson, CEO of the Shoprite Group, says while South Africa’s staring junk status in the face, it is unlikely to land there.  The influential businessman is also not exactly having sleepless nights over South Africa’s political squabbles.  However, he advises politicians to keep the Gupta controversy out of the public eye.  “I’m not sure if it has any impact other than the emotional impact of such a very delicate situation being handle in the public arena,” Basson says.  “I would‘ve preferred it to be handled not forgotten, not left out, but handled in more of an atmosphere where facts rather than emotions prevail.”  The big boss of the Shoprite Group was the guest speaker at a business breakfast in Stellenbosch on Friday.  Basson says political instability is not unique to South Africa, and believes that there is hope for the country’s economy.  * For more on this story, watch the full video report by percival Young in the gallery above.

– eNCA


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