South African-listed diversified industrial company Bidvest Group chairperson Brian Joffe is to take on business leaders from 31 nations for the 2004 World Entrepreneur of the Year Award in Monte Carlo.
Joffe, who won the local heat of the global contest in recognition of his visionary leadership of international investment holding company Bidvest and for his ability to identify opportunities in mature industries and acquiring and turning underperforming businesses around, will represent South Africa on the global stage.
Global audit and business advisory firm Ernst & Young and Rand Merchant Bank staged the South African heat of the global contest, which has been likened to the Oscars of the business world.
Commenting on competing against the best-of-the-best in Monte Carlo, Joffe says: “I am thrilled to represent South Africa at the world entrepreneurship awards in Monte Carlo as this is a highly influential forum. I therefore get an opportunity to communicate the positive changes that are taking place in South Africa to an audience of business leaders who help shape opinion in key markets worldwide.”
In 15 years, Joffe has turned start-up capital of R8-million into a global enterprise with capitalisation of R17-billion. In the past 10 years alone, Bidvest has achieved a 36% annual compound growth in total shareholder returns — making it a bigger wealth generator in percentage terms than Jack Welch’s General Electric or Warren Buffet’s Berkshire Hathaway.
Bidvest has never made a loss, despite the huge volatility of emerging markets and today sustains more than 75 000 jobs.
All 31 winners of National Entrepreneur of the Year programmes will automatically become life-long members of the Entrepreneur of the Year Academy, which was established to commemorate the accomplishments of the world’s great entrepreneurs and to build awareness around the global economic impact of their contributions. All country winners are also received into the Entrepreneur of the Year Hall of Fame, an exclusive body of the Entrepreneur of the Year Academy.
An independent and prestigious panel of jurors, made up primarily of prior Entrepreneur of the Year winners, has already begun assessing this year’s 31 candidates.
Since its foundation in the United States in 1986 to honour men and women who have created and sustained successful, growing business ventures, the awards have grown throughout the world, expanding to 31 nations in 2004 (with 38 countries expected to participate in 2005). More than 10 000 individuals were nominated for awards in 2004.
Past winners of World Entrepreneur of the Year include founder and chairperson of Infosys Technologies Narayana Murthy in 2003, president and CEO of BrainLAB AG Stefan Vilsmeier in 2002, and president, chairperson and Group CEO of Saes Getters SpA Paolo della Porta in 2001. — I-Net Bridge