Michael Jordaan is one of South Africa’s most respected business leaders and is the former chief executive officer of First National Bank (FNB).
After stepping down from his role in 2013, he founded Montegray Capital, through which he has backed 25 entrepreneurial ventures including Rain, Bank Zero, NMRQL, CodeX, and VALR.
He has rapidly became one of the most respected venture capitalists in South Africa, with his latest venture, Bank Zero, set to launch in earnest in 2021
In this episode of Business Talk with Michael Avery, Jordaan says that while 2020 marks a dreadful year for humanity, there is hope for the future – particularly if one looks at the developments in science, namely the numerous vaccines that will soon be made available.
2020, he says, has also brought us closer to the future, particularly in the digital space.
Jordaan notes that data growth will give rise to entire new business sectors, sparking new business. The borders are flattening, with South Africans open to all kinds of opportunities.
“Confidence is the cheapest booster of economic growth,” Jordaan says.
He talks through some of the challenges with starting a new business, but also highlights some of the successes, citing the example of how startup Rain has performed, particularly over the last several months – and in line with his mantra which is to ‘never waste a good crisis’.
Jordaan is confident and optimistic about South Africa’s future, but says that the government needs to take difficult decisions and make the necessary reforms.