Celebrating the Legacy of Don Mkhwanazi: A Visionary Leader in Economic Transformation
Image: File Picture: Marilyn Barnard
The Black Management Forum (BMF) gathered at the prestigious Durban Country Club on Tuesday to commemorate the legacy and impactful leadership of Don Mkhwanazi.
This celebration brought together business stalwarts, professionals, and admirers to reflect on the life and contributions of a man hailed not only as a pioneer and visionary who significantly changed the landscape of economic transformation in South Africa.
Lindani Nsibande, Simphiwe Nsibande and Lwazi Mkhwanazi
Image: Sibonelo Ngcobo/Independent Newspapers
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Next
Stay
Close ✕
Ad loading
The event was themed 'Driving Inclusive Prosperity: Lessons From Mkhwanazi's Bold Leadership for Transformation,' paid tribute to a man whose accomplishments were numerous.
BMF President Mpho Motsei began proceedings by reflecting on the esteem in which Mkhwanazi was held, and appreciated his selfless service and unwavering commitment to uplifting fellow black professionals.
'Lectures come and go, but Don Mkhwanazi's will is hard to perish. There are plenty of stories to share about his dedication,' Motsei remarked, reinforcing the sentiment that the journey initiated by Mkhwanazi would extend beyond the celebration.
Paul Nzimande, Dr. Nathi Nkwanyana and Bonga Yengwa
Image: Sibonelo Ngcobo/Independent Media
Motsei said the BMF's recognition of Mkhwanazi was not merely ceremonial; but marked a significant milestone for the organisation.
'We represent an icon and a giant in the business fraternity.
The Black Management Forum owes its existence to leaders like Don, who earned the father of BEE title,' he said.
Mkhwanazi's influence has been pivotal in transforming the BMF from a professional networking group into a formidable advocacy platform focused on black empowerment and economic justice.
Motsei described Mkhwanazi as pivotal in shaping the organisation's ideology and legacy, emphasising that 'under his guidance, BMF's core agenda moved beyond managerial representation to systems change, advocating for access to ownership and control of companies'.
He mentioned that Mkhwanazi's foresight in conceptualising and promoting the notion of Broad-Based Black Economic Empowerment (BEE) occurred long before it became government policy, was a testament to his visionary leadership.
Ayanda Bandla-Ngubane and Mqondisi MQ Ngubane
Image: Sibonelo Ngcobo/Independent Media
Brian Cebisa, Phumlani Mzila and Nathi Ngwenya
Image: Sibonelo Ngcobo/Independent Media
Thomas Radebe and Nyikiwa Mavunda
Image: Sibonelo Ngcobo/Independent Media
Londiwe Ndlovu, Bongulwazi Mavimbela, Luyanda Ngcobo and Rorisang Moabi
Image: Sibonelo Ngcobo/Independent Media
Sharing heartfelt memories during the commemorative event, Prasheen Maharaj recounted his personal journey with Mkhwanazi, recalling how they transitioned from friends to business associates.
Maharaj, the president of the Durban Chamber of Commerce and Industry, described Mkhwanazi as an innovator dedicated to inclusive economic transformation.
'He dreamt of economic transformation not just as a slogan but as a lived reality for all,' said Maharaj.
Murangi Tsanwani, Lizalise Dingalibala, Prasheen Maharaj and Mpho Motsei
Image: Sibonelo Ngcobo/Independent Media
Apart from pioneering BEE initiatives, Mkhwanazi founded the National Empowerment Trust in 1992 and was the chairperson of the anti apartheid debt committee that presented to the Truth and Reconciliation Commission in 1997.
His entrepreneurial ventures, such as Southern African Shipyards, generated headlines in December 2014 when awarded navy contracts worth R406 million, and earlier secured a R1.4 billion contract from Transnet to build tugboats.
Don Mkhwanazi's extraordinary journey was universally recognised as a lighthouse of hope and direction, illuminating the path for future generations.
He is survived by his wife, Zodwa Msimang, and five children, who continue to embody his values of courage, integrity, and impactful leadership.
DAILY NEWS
Thembalethu Shange, Siyethaba Nyawose, Zolile Msomi and Bawinile Gwala
Image: Sibonelo Ngcobo/Independent Media
Phumi Blose and Khwezi Zulu
Image: Sibonelo Ngcobo/Independent Newspapers
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
2 hours ago
- IOL News
Malawian man accuses Nedbank of reckless lending as court rules bank can repossess Sunninghill home due R2. 6 million debt
A Malawian man who has been unable to meet his bond payments has accused Nedbank of reckless lending after owing over R2.6 million. Image: Tracey Adams/Independent Newspapers A Malawian man who has been unable to meet his monthly bond payments has accused Nedbank of reckless lending after owing over R2.6 million on his home loan. Bonface Tintin Ndawala, an accountant and a CEO of a mobile company in his home country, bought his home in Sunninghill, Johannesburg in October 2011. He purchased his home with a bank loan of R2.4 million. Initially, Ndawala was responsible for paying R27,559.62 each month, but his last payment was made in August 2021, amounting to R20,221.14. The failure to maintain payment resulted in arrears exceeding R977,000. In court, Ndawala represented himself after his attorney withdrew a few hours before the hearing. He told the court that he holds 5,400 shares valued at R1,000 each in Midveldt Investments (Pty) Ltd, which he claimed could be sold to alleviate his financial burden. However, Nedbank said Ndawala failed to attach an evaluation certificate from an actuary or other accountant to confirm the value of those shares. This argument was accepted by Acting Judge JL Bhengu who said given the fact that Ndawala's indebtedness spans from 2021, he should have at least taken steps to sell his shares to cover his debts, if indeed the shares are worth that much. "It is unreasonable for Mr Ndawala to expect the creditor to undertake the exercise of verifying the existence of the shares when he cannot do it himself, despite such information falling within his personal knowledge," said the judge. Moreover, Ndawala explained that as a CEO, he was in the process of finalising an agreement with a potential investor where he could raise over R200 million and this would have allowed him to pay the arrears in one go. He complained that because he was not legally represented, he was unable to bring proof of the contract and license of the business that he was referring to. Dissatisfied with his explanation, the judge said Ndawala's complaints had no merit because he was always legally represented throughout the proceedings up until a few hours before the hearing. His other defence was that the bank's interest charges were exorbitant, and the bank failed to assess his financial position at the time of granting the loan, amounting to reckless lending. This argument was also thwarted by the judge due to the fact that at the time he applied for the bond, he was employed by Cell C and earned over R200,000. "There is no explanation from Mr Ndawala why he agreed to these terms of the loan, only to challenge them almost 13 years later when he is having financial difficulties. It is trite that contracting parties cannot escape the enforcement of contractual terms on the basis that enforcement would be disproportionate or unfair in the circumstances," said the judge. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Upon reviewing the evidence, the court considered the fact Ndawala owned a home loan exceeding R2.6 million and was in arrears of over R977,000, with the amount still increasing. With these facts, the judge deemed it appropriate to declare the property to be repossessed by the bank. "I am of the view that foreclosure will also assist Mr Ndawala to alleviate the escalating indebtedness not only on the home loan but also towards other creditors like the municipality and the homeowner's association." In May 2023, a property evaluator valued the property at R2.8 million, whereas the municipality valued it at R2.6 million. Conversely, the bank suggested a sale price of R2.2 million, which the judge deemed fair, taking into account the outstanding amounts owed to the municipality and the Homeowners Association. However, Ndawala contended that the property was worth over R5 million. He said R2,2 million was too low and argued that R4 million was more reasonable. Ndawala's argument was dismissed because his finding was not supported by a property evaluator. In contrast, the bank relied on independent evaluators to support their position. Despite ruling in favour of the bank, the judge suspended the order for six months to give Ndawala enough time to finalise the deal which he claimed would settle all his debts at one go. "I decided to grant him the benefit of the doubt by suspending the operation of the order for six months in order to give him a fair chance to bring his arrears up to date," read the judgment. The judgment was made in June 2024, and the reasons were not written. In July 2025, Nedbank approached the judge to request written reasons that informed the ruling. The reason for this request was because Ndawala had submitted an application for leave to appeal the judgment. IOL News Get your news on the go, click here to join the IOL News WhatsApp channel
IOL News
a day ago
- IOL News
Oceans North Tower launch marks new chapter for luxury living and inclusive growth in uMhlanga
Businessman Vivian Reddy having a chat with MC Styles Mbatha at the launch on Friday of the iconic Oceans North Tower. Image: Leon Lestrade / Independent Newspapers A NEW era of luxury and inclusive growth dawned in uMhlanga on Friday evening as the Oceans North Tower was officially launched, accompanied by a surprise announcement of a strategic partnership between Oceans Umhlanga and hospitality giant Southern Sun. The glamourous rooftop ribbon‑cutting event drew an elite gathering of politicians and dignitaries, including government ministers, politicians, eThekwini Municipal Manager, Consul General of the People's Republic of China in Durban, business leaders, local celebrities, international guests as well as investors. Guests were treated to champagne receptions, live entertainment, a lavish buffet and glittering views of the new luxury tower. The North Tower itself marks a R1.4 billion segment of the larger R4.3 billion Oceans Umhlanga development, which includes the award‑winning Oceans Mall and the Radisson Blu Durban Umhlanga Hotel. Featuring 258 luxury units—from studios to four‑bedroom penthouses—with ocean‑facing views, resort‑style pools, concierge and wellness zones, and direct access to the mall, the tower sets a new benchmark for coastal residential living in KwaZulu‑Natal. Beyond high‑end amenities, the project emphasises socio‑economic transformation. About 50 percent of the North Tower workforce comprised of young Black South Africans, with strong representation of Black women. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Over 24,000 jobs have been created during construction, with many sourced from neighbouring communities like Inanda, Ntuzuma, KwaMashu, and Blackburn. Developer and businessman Vivian Reddy called the event a milestone fueled by vision, resilience, and collaboration. He said the celebration was a defining moment in a journey that has been powered by determination and extraordinary people. "The Oceans North Tower is more than just a high rise, it is a landmark in belief that when South Africans unite in purpose we can produce something that is not only world class but something iconic. As I look at this tower I feel immense pride, not just in the architecture but in the human spirit behind over 2400 workers, artisans, engineers and professionals who brought it to life with their skills, sweat and unwavering commitment. The Tower is their triumph," said Reddy. He lauded his co-developer Rob Alexander for his unwavering support as well as other key players including the KwaZulu-Natal Joint Municipal Pension Fund. Speaker after speaker praised Reddy and Alexander for making the province a winning destination, recognising the value and transformative impact that the investment made on the socio economic landscape. Thulasizwe Buthelezi, MEC for Cooperative Governance and Traditional Affairs represented KwaZulu-Natal Premier Thami Ntuli, who was unable to attend, applauded the KwaZulu-Natal Joint Municipal Pension Fund for partnering with Reddy. 'The Oceans Umhlanga development stands as a beacon of progress, vision and commitment to building a prosperous economy in this province. Many of us here have had the privilege of witnessing the evolution of this landmark project from the development of Oceans Mall, one of the largest and most prominent retail centres in South Africa,' said Buthelezi. eThekwini Municipal Manager Musa Mbhele acknowledged the project's significance within the broader urban context. Mbele spoke candidly about the dual realities of a post-apartheid city—challenges of infrastructure and service delivery on one side, and resilience and investment on the other. 'This city has faced immense challenges, from service backlogs to devastating floods. But despite it all, projects like this show our strength and determination. Developers like Vivian Reddy prove that with belief in the city and its people, great things are still possible,' Mbhele said. At the height of the evening, Reddy revealed that Southern Sun will join the Oceans Umhlanga mixed–use precinct by taking significant equity and operational control of the upcoming South Tower hotel and residences. The sweetheart deal has been in negotiations for over a year and cements Southern Sun's long‑term investment in the development. SUNDAY TRIBUNE
IOL News
3 days ago
- IOL News
Understanding the cost implications of the US-South Africa Bilateral Relations Review Act on the property sector
If foreign investors exit the South African property market, property prices may cool. Image: Leon Lestrade, Independent Newspapers. The US-South Africa Bilateral Relations Review Act of 2025 will negatively affect the local property sector's investment dynamics and have cost implications if it becomes law. The bill was introduced by Ronny Jackson, a congressman from Texas, in April. For it to become a law, it will need to be approved by the House and Senate before being signed by President Donald Trump. It accuses South Africa of undermining the United States' interests by maintaining close relationships with the People's Republic of China and the Russian Federation, nations that are Pretoria's strong allies and key trading partners. On investment dynamics, Dr Farai Nyika, an academic programme leader in the School of Public Administration at the Management College of Southern Africa(MANCOSA), says South Africa's property sector depends significantly on both domestic and international investment. He said foreign involvement includes not only direct investment in physical developments but also the purchase of South African property-related shares on the Johannesburg Stock Exchange (JSE). 'Should the bill become US law, the geopolitical risks associated with doing business in South Africa may deter foreign investors. This could result in a slowdown in physical property developments by foreign investors and a sell-off of South African property stocks. "Such a sell-off would constrain these companies' ability to raise capital, potentially leading to reduced profitability, operational cutbacks, and, disastrously, job losses,' Nyika told "Independent Media Property". The academic leader said it is key to note that the bill, in its current form, may change to broaden penalties beyond what is currently stated, so they could only speculate on its current form. He said it should be remembered that the bill is really targeting South African individuals, rather than the country as a whole. 'However, perceptions matter more than reality and legal precision; for example, though Zimbabwean politicians were the target of U.S sanctions in 2003, the Zim government claimed that the country's subsequent economic hardships were the result of the entire country being sanctioned. "By extension-sanctions that target individuals indirectly harm the economy. Because many property investors will say that they do not want to do business in a country that the 'US is sanctioning'. "Perversely, there could be some economic benefits to the local property market from the U.S sanctioning local politicians. If foreign investors exit the market, property prices may cool. "This could make housing more affordable for locals who have previously been priced out-particularly in urban centres like Cape Town, where gentrification has greatly limited social mobility and access to property ownership,' Nyika said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading With regards to cost implications, he said a large proportion of building materials, especially high-end fixtures for luxury properties and solar technologies, are imported. He said in a country that has been grappling with persistent load shedding and a transition to cleaner energy, the demand for solar and energy-efficient solutions is rising. 'However, if the bill disrupts trade relations or leads to broader sanctions, the cost of these imported materials may increase, raising construction and development costs. This could slow down South Africa's Just Energy Transition in the short term.' With that said, Nyika said economic pressure often fosters innovation. He said historical precedents show that sanctions or trade restrictions can trigger industrial growth-as was the case in both Zimbabwe and apartheid-era South Africa during the 1960s and 70s. 'In the long run, if the South African government were to prioritise industrial policy and local manufacturing, the country could reduce reliance on imports. "This would benefit the property sector by fostering domestic production of certain formerly imported building materials and solar items, improving resilience, and potentially creating new economic opportunities to expand local property.' Asked whether the South Africa property sector will have resort in this regard, Dr Thandile Ncwana, also an Academic Programme Leader at the same institution, said but some of the possible strategic play for South Africa in this situation should the bill be approved, is to mitigate escalation and maintain its relationship with the US by considering engaging in high-level bilateral diplomacy aimed at clarifying its foreign policy positions while reaffirming its commitment to democratic values, trade and multilateral cooperation. She said proactive parliamentary diplomacy, Track II dialogue forums, and regular engagement with the US Congress and civil society actors could help reframe South Africa's stance as one of principled non-alignment rather than strategic antagonism. 'Because reinforcing bilateral economic ties and highlighting areas of mutual benefit, such as climate action, infrastructure development and health, can serve as diplomatic buffers. The government also have a chance to carefully balance between asserting its foreign policy independence and avoiding diplomatic or economic isolation. "This can be achieved by adopting a transparent foreign policy communication strategy, clearly articulating the principles behind its international engagements, and avoiding actions that may be interpreted as tacit support for states or groups under U.S. sanctions,' Ncwana said. She added that multilateralism should remain at the heart of South Africa's diplomacy, and efforts must be intensified to build consensus with African partners, BRICS allies, and Western institutions alike to maintain strategic flexibility and avoid becoming a casualty of great-power rivalry. Politically, she said South Africa should adopt a dual-track diplomacy strategy that preserves its non-aligned international stance while actively engaging U.S. policymakers to dispel misconceptions about its foreign policy positions. 'This includes convening high-level bilateral dialogues, leveraging multilateral platforms like the United Nations and African Union to clarify its principled positions, and re-establishing structured parliamentary exchanges with the US Congress. "South Africa's leadership can also benefit from a strategic public diplomacy campaign that communicates its commitment to constitutional democracy, human rights, and peaceful conflict resolution principles historically shared with the US. "These efforts can de-escalate tensions and rebuild political trust, allowing space for honest disagreement without undermining the broader relationship.' Ncwana said that overall, the South African government can lastly play a strategic move by enhancing interdepartmental coordination, particularly between the Departments of International Relations and Cooperation (DIRCO), Trade and Industry, and National Treasury to ensure cohesive messaging and responsiveness to external developments like the US legislative process. Independent Media Property
