A new collaboration between Sunday World and Palatable Business was launched on Friday, July 3, with the release of their first podcast featuring Professor Adrian Saville, a strategist, economist and founder of Boundless World. Saville, who also teaches finance and strategy at GIBS, shared insights on South Africa’s economic trajectory, the role of policy and the dynamics between the private and public sectors.
Key takeaways from the discussion
- Economic growth targets: Saville noted that while South Africa’s economy has shown growth over the past 18 months, it remains below the level needed to address inequality and poverty. He emphasised that growth should reach around 4.5% to become a lived reality for citizens.
- Currency competitiveness: Research referenced in the discussion challenges the conventional belief that a weaker rand boosts exports. Saville explained why this theory is less relevant in South Africa’s context, highlighting the importance of nuanced policy-making.
- Measuring growth: Quoting Senator Robert F Kennedy, Saville stressed that traditional measures of growth often overlook what truly matters. He explored the difference between “good” and “bad” growth, pointing to inequality’s impact on social stability.
- Private sector investment: Research conducted with Robert Matsila of the Industrial Development Corporation revealed that beyond interest rates and inflation, other factors drive private sector investment. Identifying and fixing these drivers is crucial for sustainable growth.
- Job creation: Saville argued that jobs are not directly “created” but rather emerge as a byproduct of growth. If the right conditions are in place, employment opportunities will naturally follow.
- Tyme Bank case study: Although not directly involved with Tyme Bank, Saville co-authored a book with Bruce Whitfield exploring the bank’s cultural transformation, business structure and success story.
- Boundless World philosophy: His organisation focuses on three guiding questions for businesses: where to go, how to go and why to go — helping leaders decide whether to pursue growth or consider closing operations.
More topics including immigration versus migration are discussed in a palatable manner which we hope brings inspiration and actionable insights.
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- Sunday World and Palatable Business launched a new podcast collaboration on July 3, featuring Professor Adrian Saville discussing South Africa's economic outlook and policy dynamics.
- Saville highlighted the need for GDP growth of around 4.5% to effectively tackle inequality and poverty in South Africa.
- He challenged the idea that a weaker rand boosts exports, emphasizing the need for nuanced economic policies tailored to the South African context.
- Research indicates private sector investment depends on factors beyond interest rates and inflation, with job creation seen as a byproduct of sustainable economic growth.
- The podcast also covers business strategy insights from Saville’s work with Boundless World and a case study on Tyme Bank’s cultural transformation.
