Make Money Mondays

Reuel Khoza - the PIC's new Chair - opens up about money, farming and music

This interview took place on 5 March 2018. It was first published under the title "Former Nedbank Chair Reuel Khoza opens up about money, farming and music".

A screengrab of businessman Reuel Khoza.

My father was an evangelist… In the 50s, 60s and well into the 70s that church did not pay very well… my mother worked as a cleaner… their joint income was meagre… When I finished primary school, my grandfather had to sell one of his oxen to supplement what my father could put together…

Reuel Khoza

I worked as a packer… as a sweeper… as a tool-boy… but my first real salary was as a junior lecturer in 1974...

Reuel Khoza

Had I not been fired I would probably have progressed to professorship and died a pauper!

Reuel Khoza

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly “Make Money Mondays, Personal Edition” feature.

This week Whitfield interviewed former Nedbank Group Chairperson Reuel Khoza.

Khoza is a heralded thought leader and author of books such as Attuned Leadership, Let Africa Lead, The African in my Dream and The Power of Governance (with Mohamed Adam).

He also farms pears, macadamia nuts and avocadoes that he packs and exports.

His farming venture is the second largest avocado exporter to Europe.

He writes lyrics and produces music “as a labour of love”.

  • What does he believe about money?

  • Does he spend like crazy, or save compulsively?

  • How did his childhood experiences of deprivation, or abundance, shape his views on money?

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

It is tragic that the spirit of Ubuntu… appears to be waning… in both the public and private sector…

Reuel Khoza

I try to be frugal without starving myself to death… From childhood I’ve tended to not be wasteful…

Reuel Khoza

I was top of a hopeless class… he [father] expected me to be a medical doctor…

Reuel Khoza

My first wage was… 15 cents [in today’s money]… In 1963 bread was a delicacy… The first 15 cents was spent that way [buying bread].

Reuel Khoza

My best money decision was deciding to move from being a management consultant into private equity.

Reuel Khoza

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
'I get anxious when people talk to me about money'

'I get anxious when people talk to me about money'

Bruce Whitfield interviews comedian Anne Hirsch about her attitude to money (hopes and fears, successes and failures, etc.).

'My mom was passionate about investing. We listened to share prices every day'

'My mom was passionate about investing. We listened to share prices every day'

The Money Show’s Bruce Whitfield interviews Prof Nicola Kleyn (Gibs) about her attitude toward money and beliefs about it.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up about her attitude to money (hopes and fears, successes and failures, etc.).

Kahn Morbee (real name 'Dingaan') of The Parlotones opens up about his money

Kahn Morbee (real name 'Dingaan') of The Parlotones opens up about his money

The Money Show’s Bruce Whitfield interviews Morbee about his attitude to money (hopes and fears, successes and failures, etc.).

Financial educator Simon Brown comes clean about his own money habits, beliefs

Financial educator Simon Brown comes clean about his own money habits, beliefs

The Money Show’s Bruce Whitfield interviews Brown about his attitude to money (hopes and fears, successes and failures, etc.).

Popular articles
[LISTEN] SA's Ndlovu Youth Choir through to America's Got Talent semi-finals

[LISTEN] SA's Ndlovu Youth Choir through to America's Got Talent semi-finals

The choir has been wowing TV audiences in the US and across the world with their energetic performances.

Surfer comes up with insp-EYE-ring way to ward off sharks - take a look!

Surfer comes up with insp-EYE-ring way to ward off sharks - take a look!

Large eye stickers are being stuck to the bottom of surfboards in order to deter sharks.

'Ramaphosa wants to find ways to force pension fund managers to invest in SOEs'

'Ramaphosa wants to find ways to force pension fund managers to invest in SOEs'

Daily Maverick associate editor at Scorpio Sikonathi Mantshantsha takes a look at the week's financial news.

Lion cub worth R50k rescued from house in Cape Town

Lion cub worth R50k rescued from house in Cape Town

The feline was found by detectives at a property in Athlone on Wednesday following a tip-off.

Why City of Cape Town insists new coastal by-laws are not anti-poor

Why City of Cape Town insists new coastal by-laws are not anti-poor

Alderman Marian Nieuwoudt, Mayco Member for Spatial Planning and Environment, City of Cape Town explains.

[WATCH] Ndlovu Youth Choir shines once again with latest AGT performance

[WATCH] Ndlovu Youth Choir shines once again with latest AGT performance

The inspiring South African choirU2's Beautiful Day at America's Got Talent quarter-finals.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

The reason for the leakage has been revealed, explains Table Mountain Aerial Cableway MD Wahida Parker.