Johann Rupert, Executive Chairman of Remgro and CEO of Richemont, said recently in London at a shareholders meeting that “radical economic transformation” was just a codeword for theft.

The ANC responded within hours with a blistering statement and a torrent of comments, straight from the socialist-Marxist economic textbook. They warned Rupert to remain silent because he is a “beneficiary of apartheid’s exclusionary policies” with “ill-begotten privilege”. The insinuation is that he opposes economic empowerment and change, and that he does not act in the interests of a democratic system.

Even though no comments have been forthcoming from other South African business leaders, it can be assumed that a substantial number of them agree with him on this point and say exactly the same in private conversations and in board meetings.