The full series of tweets by strategist at Standard Bank Wealth and Investment
On Monday Standard Bank Group announced that it had suspended Chris Hart, Global Investment Strategist at Standard Bank Wealth and Investment. This followed the controversy over tweeted concerns by Hart on Sunday 3rd January 2016 over the increasing “hatred towards minorities” being articulated in public debate. Hart’s offending tweet was one of a series. As a matter of public record Politicsweb is publishing the full string of Hart’s remarks (though not the re-tweets). Hart began by saying:
SA economy in decline. Losing competitiveness. State institutions failing badly. Blame game in full swing: “the whites” and “private sector”
Yet on ideological and ANC control grounds, “the whites” and “private sector” are increasingly being pushed out of govt institutions
More than 25 years after Apartheid ended, the victims are increasing along with a sense of entitlement and hatred towards minorities….
Poisonous ideologies are flourishing - I have been retweeting some of them. Economies are never built on entitlement but on productivity
He then commented:
To sort out the maladies, the economy desperately needs growth derived from bottom up not trickle down. Investment in business activity
The reality (whether a legacy of any sort or not) is that all wealth gets originally produced by business and enterprise activity
The reality is that (whether a legacy exists or not) that no new economic activity comes into existence without investment
The reality is that (whether there is a legacy or not) that all investment is resourced through saving
point is, that whatever the past has been, SA needs to win the future. That does not mean ignoring the past, but it is needs to be helpful
The vitriol is expected. All about ‘white privilege’ apartheid beneficiary. But nothing about building the economy
Let’s take education. Pass rate falls: reality of hiding problems through lowering standards is being exposed. Lower standards did damage
In education, there are schools that don’t have proper ablutions. More than 20 years after 1994. Yet money has been allocated to fix this
No ablutions in schools? Blame is very appropriate on the Apartheid govt. but now? Blame very appropriate on current govt.
Hart’s Tweet about the increase in the growing sense of entitlement and hatred expressed towards minorities began to be met with critical and supportive responses, some of which Hart re-tweeted. For example, Oxford Rhodes scholar Eusebius McKaiser – a proponent of unapologetic racial discrimination against South Africa’s white minority - responded:
Actor, model and comedian Siv Ngesi @iamSivN proceeded to Tweet a series of threats against Hart to his 22 000 followers calling for “black Twitter” to mobilise and teach the Standard Bank economist a lesson:
Utalk of entitlement like white people dont feel entitlement!Like it's some black disease!Black twitter pls make Sundayroast of @chrishartZA
I have a feeling @chrishartZA will regret his twitter rant! Black Twitter here's the new project!