Masses flock back to South Africa

Expats realise grass is greenest at home

As the economic crisis continues in Britain, it appears a large number of South African expats want to move back home.

The managing director of Homecoming Revolution, Martine Schaffer, says her organisation, which helps expats return to South Africa, has been taking eight to 10 phone calls a day from people wanting to leave the UK.

“We’ve had a lot more inquiries since the new government came in. There’s almost a new stability around South Africa,” she said.

Shortly after Jacob Zuma was inaugurated as president in May, 200 South Africans living in London met Schaffer at a discussion of possible business opportunities in South Africa.

Schaffer believes the peaceful election had generated greater interest amongst expats in returning home.

“It has almost surprised expats living abroad how we’ve managed to do things,” she said.

John Battersby, UK manager of South Africa’s International Marketing Council, said those who feared the worst about the safety of the country had been proved wrong by the elections. In addition, there has been a ruling against trade union federation Cosatu and communications regulator Icasa with regard to a case against Telkom’s sale of Vodacom shares.

“The election sent all the right signals to the investor community internationally, including South Africans abroad.” If the Vodacom case “had gone in another direction, it would have been another matter entirely,” Battersby stated.

One of the South Africans at the London meeting was Timothy Schultz, a marketing specialist. He has lived in the UK for nine years.

“The good times in London are definitely over,” he said. “A lot of people have already made up their minds and they’re going. They’ve already got their plans in place.”
Schultz said there appeared to be many at the meeting who were not there “purely because of naive homesickness. You got a sense that there were people who had business plans in their back pockets.”

Investment ratings agency Moody has given a positive verdict on South Africa, stating the country would experience a less severe recession than many other countries. Combined with a strong demand for new South African bonds this is a positive indication of the country’s ability to attract investment, Battersby claimed.

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