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How Sam Motsuenyane's Nafcoc Started African Bank in 1964 - with R70

A Testament of HopeIn an article for UJUH, financial journalist Sibonelo Radebe outlines the lessons he believes can be learnt from Sam Motsuenyane’s biography A Testament of Hope: The Autobiography of Dr Sam Motsuenyane on how to create a new people’s bank in South Africa.

Motsuenyane is the founding chairman of African Bank and former president of the National African Federated Chamber of Commerce (Nafcoc). Radebe relates his description of how organised black business realised their dream of creating a bank for black people in the 1960s.

On the day of the first NACOC conference in 1964, about R70 was put on the table to advance the development of the bank. The target was R1 million which, Radebe says, was the minimum equity required to establish a bank.

Read the article:

From the R70 base of 1964 NACOC traversed all corners of the country to secure a broad based buy-in that came via the R100 per participant. The momentum was boosted by some Bantustan leaders. The contribution of the Zululand government under the leadership of Chief Mangosuthu Buthelezi is highlighted. The ‘cantankerous’ Chief is said to have been highly enthusiastic and put up R25 000 from KwaZulu. The R1million target was hit and African Bank launched its first branch in 1975 in Ga-Rankua with Dr Motsuenyane as chairperson.

Dr Motsuenyane states that the day African Bank was launched it was blessed by “a tremendous downpour of rain”.

“Just after we said ‘Amen’, the rain came down in torrents,” says Dr Motsuenyane. “The streets in the township were flowing with water and people shouting, Pula (rain)… We sang ‘Glory Hallelujah’ when our long-cherished dream was transformed into reality.”

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5 Sunday Reads, Including Shakespeare in Translation and a (True?) Ghost Story From David Mitchell

Hamlet1. A Facelift for Shakespeare

From the Wall Street Journal: The Oregon Shakespeare Festival will announce next week that it has commissioned translations of all 39 of the Bard’s plays into modern English, with the idea of having them ready to perform in three years. Yes, translations — because Shakespeare’s English is so far removed from the English of 2015 that it often interferes with our own comprehension.

The Story of the Lost Child2. The Author Is Purely a Name

From Guernica: By Elena Ferrante – Fragments on writing, publishing, and being an anonymous worldwide phenomenon.



Freedom3. Jonathan Franzen: “Modern life has become extremely distracting”

From The Guardian: The author on the “meaningless noise” that pours through the internet, the writing of his fourth novel, Freedom, and the death of his friend David Foster Wallace


M Train4. Patti Smith Talks Fame, Youth, and Her New Memoir, M Train

From Vanity Fair: As the follow-up to 2010′s Just Kids hits shelves, the punk pioneer discusses her literary inspirations.

From Vogue: Patti Smith Makes a Pilgrimage to French Guiana in This Exclusive Excerpt From Her New Memoir.

Cloud Atlas5. A Possibly True Ghost Story From David Mitchell

From Lit Hub: Once upon a time in Japan, at the foot of the bed …


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Would You Choose an Award-winning Beer Over One Without Stars? Andy Rice Thinks You Might (Podcast)

Craft BeerMarketing expert Andy Rice was a guest on The Money Show recently where he spoke to Bruce Whitfield about whether or not awards really influence consumers in their decisions to buy certain brands of alcoholic beverages over others.

Rice says that when it comes to the liquor industry, “every drink has won something, somewhere in some obscure competition”, adding that “we do have some seriously high-flying brands that deserve the awards that they win”.

Awards are good ways to show that the drink is worth the price, Rice explains, and they also provide evidence to justify expensive purchases and combat buyer’s remorse.

For all the information you need on our local beer industry, read Craft Beer: A Guide to South African Craft Breweries and Brewers by Jacques van Zyl.

Listen to the podcast:

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Must Watch: Antjie Krog and Pieter Odendaal Perform "Rondeau in Four Parts" at the 2015 Open Book Festival

Antjie Krog

SynapseMede-weteIn a performance during the 2015 Open Book Festival poetry lovers were reminded – in case it was possible to forget – of the greatness of Antjie Krog’s poetry.

The award-winning poet was one of the many esteemed artists on stage when the InZync Poetry collective invaded Cape Town on the final evening of Cape Town’s biggest book festival. Among others, Krog performed a poem with Pieter Odendaal (Nuwe Stemme 5). “We will do a poem that is both Afrikaans and English. It’s called “Rondeau in four parts,” she said in introduction. Krog read the Afrikaans parts, Odendaal the English.

Before they started the reading, Krog explained what the poem is about: “It uses Table Mountain as the most contentious place in South Africa, named and viewed from the inside, named and viewed from the outside. We try here, the two of us, to fuck up those words – inside and outside – very very very hard and see whether we can come to some other place.”

InZync filmed the performance and created an incredible video which they shared on their YouTube channel. Watch it to be reminded just how epic Krog’s work is:

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Krog’s latest collection of poems, Synapse / Mede-wete, explores themes of language, memory and consciousness with a haunting sense honesty and remarkable intensity.



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Cover Revealed for the North American Edition of Masande Ntshanga's The Reactive


The ReactiveThe cover for the North American edition of The Reactive by Masande Ntshanga has been revealed by his publisher in that region, Two Dollar Radio.

Two Dollar Radio acquired the rights to The Reactive in May – and optioned the rights to a film adaptation as well.

A second international publishing deal for The Reactive was sealed in June, when Verlag das Wunderhorn acquired the German rights.

Ntshanga shared the cover on Twitter:

The cover was designed by local illustrator Pola Maneli:

Two Dollar Radio shared a picture on Instagram:



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An Interview with Nakhane Toure, Musician and Novelist, About Ways and Whys of Working with Words

Piggy Boy's BluesNakhane Touré is a musician who, already having a much coveted SAMA award to his name, has now stepped into the world of literature.

Touré was recently interviewed by Glamour about his debut novel Piggy Boy’s Blues.

In the interview, Touré speaks about the differences between writing songs and writing a novel, how he deals with writer’s block and where he finds inspiration for his writing.

Read the interview:

Your song lyrics seem to be quite personal, is your novel the same?

Nakhane: The novel is different in that these are created characters, and I, like a puppeteer, have given them life, emotions, things to love, things to hate, bad and good habits, etc. But as much as that is true, I wanted the story to be quite intimate, and in that respect, one could say that it is personal.

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