Rob Hersov Urges Young South Africans to Pursue Global Opportunities
Businessman advocates for international experience before returning to help rebuild South Africa's economy.
1Return to South Africa
Businessman Rob Hersov, who spent 31 years working abroad, returned to South Africa in 2017. Despite the country's ongoing economic and political hurdles, he maintains that the nation is worth fighting for. His wife, a New Zealander, also views Cape Town as an unparalleled location for quality of life and natural beauty.
2International Career Background
Hersov left South Africa in 1985 following his military service to build a global career. He worked for Goldman Sachs on Wall Street, studied at Harvard Business School, and joined Rupert Murdoch’s News Corporation. Later, he led Morgan Stanley’s media investment banking team in Europe and served on the board of Richemont.
3Cape Town Lifestyle Advantages
Hersov argues that Cape Town offers a lifestyle difficult to match globally due to its mountains, beaches, and schools. He compares local property costs favorably against cities like London and Los Angeles. For him, the Western Cape provides a high standard of living that would be significantly more expensive in other international hubs.
4Critique of Current Governance
Despite his optimism, Hersov is highly critical of the ANC-led government's impact on the economy. He cites poor governance, corruption, and specific policies like Black Economic Empowerment as barriers to investment. He believes these factors have hindered growth, preventing the deployment of approximately R2 trillion currently sitting on corporate balance sheets.
5Potential for Economic Recovery
Hersov suggests that if the country shifts toward stronger economic growth and policy reform, it could trigger a reverse diaspora. He believes that improved confidence would encourage South Africans living abroad to return, invest their capital, and contribute their professional skills. However, he acknowledges that safety remains a significant, persistent concern.
6Advice for Young Professionals
Hersov encourages young South Africans to seek international experience, training, and networking opportunities abroad. He views this as a vital step for personal development. He advises them to return home once they see the country moving in the right direction, bringing back the valuable expertise they gained while working in foreign markets.
7Entrepreneurship Over Corporate Paths
Beyond traditional corporate roles, Hersov urges young people to embrace entrepreneurship and technology. He argues that advancements in artificial intelligence have lowered the barriers to entry for launching new companies. By focusing on innovation, he believes young South Africans can better navigate the current economic climate and contribute to national development.
8Balancing Optimism and Reality
While Hersov remains outspoken about the country's leadership failures, his message is fundamentally optimistic. He emphasizes that the unique offerings of South Africa outweigh its challenges for those willing to fight for its future. He continues to advocate for a vision where the country realizes its potential through private sector investment.