Streaming issues? Report here
Aubrey Masango 2019 BW Aubrey Masango 2019 BW
The Aubrey Masango Show
20:00 - 22:00
volume_up
volume_mute

Up Next: Best of CapeTalk
See full line-up
The Aubrey Masango Show
20:00 - 22:00
Home
arrow_forward
Business
fiber_manual_record
Local
fiber_manual_record
Lifestyle
fiber_manual_record
Opinion

SA's brain drain: 'Critical for economic recovery to stem the emigration tide'

10 February 2021 7:17 PM

From medicine to construction - specialist skills must be retained for SA to remain competitive, warns RMB chief James Formby.

In the Fourth Industrial Revolution, for South Africa to remain competitive, it's absolutely critical that we attract and retain specialist skills.

James Formby, CEO - Rand Merchant Bank

We have to ensure that the emigration and accompanying brain drain "trickle" the country is experiencing does not turn into a torrent, warns James Formby.

© Surasak Saneha/123rf.com 

Bruce Whitfield interviews the Rand Merchant Bank boss on The Money Show.

He acknowledges that hard data is not really available, but says the estimated number of South Africans leaving is something the country can ill afford.

We've tried, but the only way you can actually do it is to look at South Africans that are living in other countries and try and piece it together over long-term numbers.

James Formby, CEO - Rand Merchant Bank

The best estimate is around 23,000 people leaving per year, but anecdotal evidence is showing it is higher.

James Formby, CEO - Rand Merchant Bank

South Africans tend to move not necessarily because they feel opportunity is better elsewhere - it's just that they're terrified of what's happening in their own backyard...

Bruce Whitfield, The Money Show host

It's a tragic situation says Whitfield, that so many South Africans are losing faith in the future.

Formby cites load shedding, along with safety and security, as the perennial concerns driving emigration.

He says the country has to be very cautious of some of the other "own goals" that could be avoided.

For example the SA Medical Association did research on medical specialists... and 38% of them said they would leave if NHI was fully implemented.

James Formby, CEO - Rand Merchant Bank

That uncertainty isn't the kind of uncertainty you want for those specialist skills because it takes years to develop and they need to train, in turn, the people that come after them.

James Formby, CEO - Rand Merchant Bank

Formby discusses examples of other sectors losing specialist skills like the construction industry with civil engineers.

In the last few years we've seen 1.7% of civil engineers leave, which is not surprising given the economic environment. If we want an infrastructure-led recovery in this economy it's critical to make sure that we stem that tide.

James Formby, CEO - Rand Merchant Bank

Formby also comments on the "how can we find the money to pay for vaccines" discussion.

He agrees with other economists that a vaccine rollout could be funded through the current tax collection overrun, without the need to actually increase taxes.

To put it into context, the whole vaccine programme is around 24 days' worth of our interest bill!

James Formby, CEO - Rand Merchant Bank

What business needs to hear from President Cyril Ramaphosa during his upcoming Sona address is how government is executing the plans it's already announced, he says.

Listen to the conversation on The Money Show:




10 February 2021 7:17 PM

More from Business

SA Olympians to show off local vellies at Tokyo Games

13 April 2021 6:55 PM

'We've got a colour shoe for every ring of the Olympic Games!' The Money Show interviews Veldskoen CEO Nick Dreyer.

Share this:
Read More arrow_forward

SA health experts are meeting after US recommends halting J&J vaccinations

13 April 2021 6:43 PM

Six cases of rare type of blood clotting have been reported out of a total of 6.8 million vaccinations with the J&J Covid-19 shot.

Share this:
Read More arrow_forward

[SCAM] Fraudsters rip off desperate job seekers using Green Point office space

13 April 2021 12:54 PM

The co-working office space owner describes a shocking incident when scamsters hired the boardroom to fleece unsuspecting victims.

Share this:
Read More arrow_forward

'I had to pinch myself, I had so much money! It was ridiculous!'

13 April 2021 12:49 PM

Springbok Legend-of-Legends Tendai "Beast" Mtawarira opens up about his money and his beliefs about it.

Share this:
Read More arrow_forward

Like it, or not – the sugar tax is working

13 April 2021 9:02 AM

We are drinking far less of the bad stuff, says Prof Karen Hofman of the Wits Centre for Health Economics and Decision Science.

Share this:
Read More arrow_forward

How to think like a billionaire - it's how you too can be wealthy

12 April 2021 7:44 PM

Bruce Whitfield interviews Daniel Strauss, author of The Billionaire Mindset: Secrets of a Successful South African Entrepreneur.

Share this:
Read More arrow_forward

Companies benefitting from Covid-19 TERS to be audited

12 April 2021 7:33 PM

Bruce Whitfield interviews Ruth Maforimbo of People Advisory Services at EY Europe, Middle East, India and Africa.

Share this:
Read More arrow_forward

Road Accident Fund has lost control. It's R300 billion in debt - Outa

12 April 2021 7:19 PM

South Africa faces dire consequences if the RAF goes bust, warns Wayne Duvenage, CEO at Organisation Undoing Tax Abuse (Outa).

Share this:
Read More arrow_forward

Should you keep working from home after the pandemic?

12 April 2021 6:48 PM

Will doing so affect you negatively in the long term? Bruce Whitfield interviews Linda Trim, Director at Giant Leap.

Share this:
Read More arrow_forward

Absa closes its money market unit trust for good – here’s what that means

12 April 2021 6:18 PM

The Money Show’s Bruce Whitfield asks Denker Portfolio Manager Kokkie Kooyman what it means for the industry.

Share this:
Read More arrow_forward

More from Local

SA temporarily suspends J&J vaccine rollout after US calls halt over clotting

13 April 2021 8:02 PM

Health Minister Zweli Mkhize says it's unlikely the move will result in complete withdrawal of J&J shot from SA 'vaccine armament'

Share this:
Read More arrow_forward

SA Olympians to show off local vellies at Tokyo Games

13 April 2021 6:55 PM

'We've got a colour shoe for every ring of the Olympic Games!' The Money Show interviews Veldskoen CEO Nick Dreyer.

Share this:
Read More arrow_forward

SA health experts are meeting after US recommends halting J&J vaccinations

13 April 2021 6:43 PM

Six cases of rare type of blood clotting have been reported out of a total of 6.8 million vaccinations with the J&J Covid-19 shot.

Share this:
Read More arrow_forward

Eskom announces return of Stage 2 load shedding from 9pm tonight

13 April 2021 6:34 PM

Eskom has announced that it will implement Stage 2 load shedding from 9pm on Tuesday night until 5am on Wednesday.

Share this:
Read More arrow_forward

Here's how to check your load shedding schedule in Cape Town

13 April 2021 6:33 PM

Schedules and load shedding status for your area.

Share this:
Read More arrow_forward

'Age should be most important criterion when rolling out next phase of vaccines'

13 April 2021 5:21 PM

The CEO of the DG Murray Trust, David Harrison, says the elderly should be prioritised as South Africa prepares for the second phase of the vaccine rollout.

Share this:
Read More arrow_forward

The Table Mountain dassie population is declining – listener

13 April 2021 2:51 PM

Are there fewer dassies than before? Pippa Hudson interviews SANParks Regional Ecologist Marna Herbst.

Share this:
Read More arrow_forward

AI-based algorithm shows SA has low risk of Covid-19 third wave - for now

13 April 2021 1:44 PM

An artificial intelligence (AI)-based algorithm shows that there is currently a low risk of a Covid-19 third wave in the country.

Share this:
Read More arrow_forward

[WATCH] DCR says prison abuse video is staged and plans to lay criminal charges

13 April 2021 1:38 PM

Correctional Services Dept says the alleged creative artist has contravened the prisons act using uniforms without permission.

Share this:
Read More arrow_forward

[SCAM] Fraudsters rip off desperate job seekers using Green Point office space

13 April 2021 12:54 PM

The co-working office space owner describes a shocking incident when scamsters hired the boardroom to fleece unsuspecting victims.

Share this:
Read More arrow_forward

More from Lifestyle

'I had to pinch myself, I had so much money! It was ridiculous!'

13 April 2021 12:49 PM

Springbok Legend-of-Legends Tendai "Beast" Mtawarira opens up about his money and his beliefs about it.

Share this:
Read More arrow_forward

Binnelanders actress Quanita Adams shares her favourite hits on Sunday

13 April 2021 11:20 AM

The Multiple award-winning South African actress shares her favourite feel-good songs from the 80s and 90s on #AnHourWith at 10am.

Share this:
Read More arrow_forward

Like it, or not – the sugar tax is working

13 April 2021 9:02 AM

We are drinking far less of the bad stuff, says Prof Karen Hofman of the Wits Centre for Health Economics and Decision Science.

Share this:
Read More arrow_forward

How to think like a billionaire - it's how you too can be wealthy

12 April 2021 7:44 PM

Bruce Whitfield interviews Daniel Strauss, author of The Billionaire Mindset: Secrets of a Successful South African Entrepreneur.

Share this:
Read More arrow_forward

Should you keep working from home after the pandemic?

12 April 2021 6:48 PM

Will doing so affect you negatively in the long term? Bruce Whitfield interviews Linda Trim, Director at Giant Leap.

Share this:
Read More arrow_forward

Absa closes its money market unit trust for good – here’s what that means

12 April 2021 6:18 PM

The Money Show’s Bruce Whitfield asks Denker Portfolio Manager Kokkie Kooyman what it means for the industry.

Share this:
Read More arrow_forward

Former Springbok Kobus Wiese: 'Hospital staff were just world-class'

12 April 2021 2:02 PM

Former Springbok Kobus Wiese is recovering from a heart attack that occurred last week.

Share this:
Read More arrow_forward

South African sperm donor fights for access to his child

12 April 2021 1:20 PM

The man donated sperm to a same sex-couple who allowed him access to the child for 4 years who have now changed their mind.

Share this:
Read More arrow_forward

Is the physical office space dying? Research shows not yet

11 April 2021 9:45 AM

A small study by a University of Stellenbosch Business School (USB) graduate shows that a mix of office-based work and remote work is the best option.

Share this:
Read More arrow_forward

Local director realises lifelong dream with release of his debut feature film

9 April 2021 7:16 PM

Three years ago Kruger decided it was time to fulfil his dream, and started writing and directing his first movie, Fried Barry.

Share this:
Read More arrow_forward

More from Opinion

'Mozambique conflict not Islamist. It’s about the gas, and the spoils thereof'

13 April 2021 1:41 PM

The conflict in Cabo Del Gado is not part of the global jihad, says Dr Joseph Hanlon. It is about people fighting for resources.

Share this:
Read More arrow_forward

'I had to pinch myself, I had so much money! It was ridiculous!'

13 April 2021 12:49 PM

Springbok Legend-of-Legends Tendai "Beast" Mtawarira opens up about his money and his beliefs about it.

Share this:
Read More arrow_forward

'State security illegally spied on Tito Mboweni, Magda Wierzycka, critics of JZ'

13 April 2021 10:53 AM

"If we closed down state security, we’d save money and we won’t be less safe," argues illegally spied on Professor Anton Harber.

Share this:
Read More arrow_forward

Like it, or not – the sugar tax is working

13 April 2021 9:02 AM

We are drinking far less of the bad stuff, says Prof Karen Hofman of the Wits Centre for Health Economics and Decision Science.

Share this:
Read More arrow_forward

How to think like a billionaire - it's how you too can be wealthy

12 April 2021 7:44 PM

Bruce Whitfield interviews Daniel Strauss, author of The Billionaire Mindset: Secrets of a Successful South African Entrepreneur.

Share this:
Read More arrow_forward

Road Accident Fund has lost control. It's R300 billion in debt - Outa

12 April 2021 7:19 PM

South Africa faces dire consequences if the RAF goes bust, warns Wayne Duvenage, CEO at Organisation Undoing Tax Abuse (Outa).

Share this:
Read More arrow_forward

Should you keep working from home after the pandemic?

12 April 2021 6:48 PM

Will doing so affect you negatively in the long term? Bruce Whitfield interviews Linda Trim, Director at Giant Leap.

Share this:
Read More arrow_forward

Absa closes its money market unit trust for good – here’s what that means

12 April 2021 6:18 PM

The Money Show’s Bruce Whitfield asks Denker Portfolio Manager Kokkie Kooyman what it means for the industry.

Share this:
Read More arrow_forward

'Busy culture' is a load of bull – 10 tips to avoid burnout

9 April 2021 2:49 PM

The Money Show's Bruce Whitfield interviews serial entrepreneur Nic Haralambous.

Share this:
Read More arrow_forward

'Urban speed limit must be lowered from 60 km/h to 30 km/h'

9 April 2021 12:58 PM

"If you get hit by a car at 60 km/h, your chance of survival is zero," says Kirsten Wilkins, an urban designer at Open Streets.

Share this:
Read More arrow_forward