‘I swore to never work for a white man again’ – Richard Maponya
SANDTON - "Government should play a major role in empowering emerging young black entrepreneurs because they have the power to do so."
These were the words of renowned businessman, Dr Richard Maponya who addressed students at the Regenesys Business School in Sandton.
The entrepreneur, who built the iconic Maponya Mall in Soweto, spoke of the importance of persevering, even in the face of adversity.
He also touched on the inspiration behind his decision to start his own business which came after he resigned from the clothing company he worked for.
“Certain factors resulted in me resigning from the job, and after resigning I swore to never work for a white man again,” Maponya said.
He then chronicled his journey afterwards, ranging from trying and failing to open a retail store in Soweto and then diversifying into the dairy business, which brought much success, and a string of successful businesses in the township over the decades.
Maponya also touched on the issue of Black Economic Empowerment, criticising it for failing to help the majority while empowering a few.
“I have always felt that the BEE policy has to be re-structured to benefit [the] majority and not be abused by big corporations as it is now,” he said.
He also criticised the bank institutions for their lack of support for black business people, calling for the government to establish a bank to assist in funding upcoming entrepreneurs and giving them the necessary support.
Maponya concluded his talk by stressing the importance of hard work and not giving up, which assisted him on his journey as a businessman.
“I appeal to you guys to work hard and get educated; do not look to the government for bread, wake up and do it yourself,” he concluded.
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