{"id":278891,"date":"2019-09-18T08:06:13","date_gmt":"2019-09-18T06:06:13","guid":{"rendered":"https:\/\/informante.web.na\/?p=278891"},"modified":"2019-09-18T08:06:15","modified_gmt":"2019-09-18T06:06:15","slug":"namibia-is-private-and-state-owned","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=278891","title":{"rendered":"Namibia is Private &#8211; and State Owned"},"content":{"rendered":"\n<figure class=\"wp-block-video aligncenter\"><video height=\"720\" style=\"aspect-ratio: 1280 \/ 720;\" width=\"1280\" controls src=\"https:\/\/informante.web.na\/wp-content\/uploads\/2019\/09\/71310330_2511040468934699_2983008138350784992_n.mp4\"><\/video><\/figure>\n\n\n\n<div id=\"js_2\" class=\"_5pbx userContent _3576\" data-testid=\"post_message\" data-ft=\"{&quot;tn&quot;:&quot;K&quot;}\">\n<p>Staff Reporter<\/p>\n<p>\u201cTHE Trustco performance management formula is tried and tested and the company\u2019s achievements are proof that it can be successfully replicated to the national benefit by most, if not all of the current beleaguered state-owned enterprises.\u201d<br \/>This was the message of Namibia\u2019s foremost post-Independence entrepreneur and CEO of Trustco Group Holdings (TGH), Dr. Quinton van Rooyen, in Swakopmund.<br \/>Dr. van Rooyen was addressing the Chief Executive Officers of the Namibian SOE\u2019s on reforms at The Dome in Swakopmund on invitation of the Minister of Public Enterprises, Mr. Leon Jooste, to allow for open discussion on issues facing the SOE-sector.<br \/>Dr. van Rooyen described the initiative as a \u2018ground-breaking\u2019 step in the direction of cooperation to improve service delivery and efficiency in and to the benefit of the national household.<br \/>He stressed that an improved and profitable SOE-sector can open the gates of development and investment to the SADC Region and can quicken efforts towards economic integration and skills transfer. He was supported in his view by the South-African Minister of Public Enterprises, Pravin Gordhan, who elaborated that railway, air services and infrastructure development that cross borders should be targeted for accelerated improvement for the regional and common good.<br \/>In this regard, Dr. van Rooyen and Gordhan were amongst international experts for the historic Jooste initiative to ignite a bigger debate and input in reforming SOE\u2019s.<br \/>Dr. van Rooyen used the famous Thomas Friedman quote that states: \u201cPessimists are usually right and optimists are usually wrong \u2013 but all the great changes in the world have been accomplished by optimists,\u201d to remind participants that an attitude change is needed before institutional change can be effected.<br \/>During a panel discussion where most of the participants directed their questions to Dr. van Rooyen, he warned that the Namibian society should de-politicise service delivery and effectiveness to find sustainable solutions.<br \/>In reply to questions from organised labour, he warned workers\u2019 unions that they must watch their language and tone of voice, because militancy sends \u201cshivers\u201d down the spines of potential investors. International investors can\u2019t distinguish between political talk of factions and are easily alarmed.<br \/>Dr. van Rooyen demystified generous salaries and said the best companies are usually those that reward best.<br \/>\u201cThe Deloitte Best Company\u201d to work for placed Trustco under the Top 2 for the past four years, and remains one of the ten best companies to work for. Trustco is one of the Top 10 best performing companies on the Johannesburg Stock Exchange, and has a presence in four African countries with World Class National and Continental Assets.\u201d<br \/>Dr. van Rooyen said what makes this achievement even more compelling is that Trustco has more than 1 000 employees that are all shareholders.<br \/>\u201cSalaries and perks should award initiative and foresight as Trustco appoints staff according to these values in order to secure a constant drive for innovation and creativity.\u201d<br \/>His experience to the assumption that high rewards for competent staff contribute to financial ruin, is different, because he rewards skill and commitment generously, but equally has no tolerance for dishonesty.<br \/>\u201cThe Trustco success rests on three pillars where the tone of the company is set at the top and the creation of an environment that encourages and fuels productivity, accountability and transparency, but to achieve and maintain this, Trustco is prepared to reward generously, but also acts decisively against unproductivity and dishonesty.\u201d<br \/>Dr. van Rooyen also referred to the running public battles between boards and CEO\u2019s of parastatals and warned that this is a sure sign of corporate governance failure.<br \/>\u201cA Board Chairman is independent and should leave the day-to-day running of their companies to the managers and CEO\u2019s. They should resolve issues in Board meetings as Boards are expected to drive initiatives through the CEO\u2019s from the top.\u201d<br \/>Dr. van Rooyen praised Jooste for the initiative to create dialogue between SEO\u2019s, government and the private sector, but warned that initiatives should be followed up and assessed.<br \/>\u201cNamibia is in an extremely challenging time, but the challenge should be to move forward, even if it is just a step at a time. There is no more time to waist and to ponder, but the time for decisive leadership on all levels of society has arrived.\u201d<br \/>Jooste expressed gratitude that Dr. van Rooyen and Trustco stepped up to the plate to share experiences openly and transparently with the SOE-sector without holding back.<br \/>\u201cI am especially grateful for the atmosphere of cooperation and conversation that Dr. van Rooyen set,\u201d Jooste said.<\/p>\n<\/div>\n\n\n\n<div class=\"alignnormal\"><!-- MetaSlider 271797 not found --><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":10,"featured_media":278902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50,24],"tags":[],"class_list":["post-278891","post","type-post","status-publish","format-standard","has-post-thumbnail","category-informante-radio","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Namibia is Private - and State Owned - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"\u201cTHE Trustco performance management formula is tried and tested and the company\u2019s achievements are proof that it can be successfully replicated to the national benefit by most, if not all of the current beleaguered state-owned enterprises.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=278891\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibia is Private - and State Owned - Informant\u00e9\" \/>\n<meta property=\"og:description\" content=\"\u201cTHE Trustco performance management formula is tried and tested and the company\u2019s achievements are proof that it can be successfully replicated to the national benefit by most, if not all of the current beleaguered state-owned enterprises.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/informante.web.na\/?p=278891\" \/>\n<meta property=\"og:site_name\" content=\"Informant\u00e9\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/informantenam\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-18T06:06:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-18T06:06:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i1.wp.com\/informante.web.na\/wp-content\/uploads\/2019\/09\/71310330_2511040468934699_2983008138350784992_preview.jpg?fit=2000%2C1000&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff Reporter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@informantenews\" \/>\n<meta name=\"twitter:site\" content=\"@informantenews\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=278891#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/informante.web.na\\\/?p=278891\"},\"author\":{\"name\":\"Staff Reporter\",\"@id\":\"https:\\\/\\\/informante.web.na\\\/#\\\/schema\\\/person\\\/6ab65e7153fe62b690517153b8913a80\"},\"headline\":\"Namibia is Private &#8211; 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