Speaker 0:
joining me now. Lauren Smith, Optimum Financial Services Group chief executive officer. Welcome, Lawrence.

Speaker 1:
Thanks. Thanks for the opportunity.

Speaker 0:
So, Lawrence, today at the annual summit, what were some of the key takeaways for you? A. I, um, seemed to be, like a core theme as well as virtual reality. What opportunities do you think it presents for South Africa? It

Speaker 1:
was a combination of basically how to use a I

Speaker 1:
and, uh, to use you for advantage. I mean, the bottom line is, we have to look at what's happening in the world, and and we can't ignore technology. Um, but we have to use it in the right way. If we don't use it correctly, definitely. It will end up in a disaster.

Speaker 1:
So especially in, in in, in areas where it's much needed. And hopefully what I take away from this is where we can get involved into and business people getting involved into investing into this type of uh uh, uh startups and tech companies to assist the rural communities and to get one thing right as per per today to basically give people dignity. And

Speaker 1:
and most importantly, I'm a big believer of education and try and lift people because through education we can build a sustainable economy and country.

Speaker 0:
Absolutely. So what opportunities do you think it then presents for financial services groups such as? Such as Optimum? I

Speaker 1:
think if you look at your research it you can really downturn your research time from

Speaker 1:
months or even years into a very small period of time. Because it it it it's it's possible to get a lot of information in in this time. And obviously you must go and double check your information. Um, but but But it's definitely moving in the right direction.

Speaker 0:
Absolutely. So, um, Doctor Nia Suleman he pre painted quite a positive picture and said that we should all look within

Speaker 0:
when it comes to values. When it comes to spirituality. How are you going to implement this at Optimum? Well,

Speaker 1:
when we first invited him, I mean, I'm following him for quite a while and not him as a person, but what they actually do in the organisation and

Speaker 1:
what makes him actually a very interesting place. The gift of the givers is to say, Listen, but we're getting involved throughout the world. I mean, the first one I contacted him before the summit. He was in Turkey and he said, Listen, I'm busy here because it was a massive earthquake. I don't know if you can't remember. We tend to to only look in our community where we are,

Speaker 1:
and we are very. We are complaining and the more wealthy people get and the more, um, lifestyle, um that they enjoy the more they seem to to to to moan about things and complaining. And I mean, if you look at local government in the Western Cape, for example, um, we had the, um we had the news of the premier last week in Thursday purely to find out what's happening in the Western Cape. You know, just a little bit of interesting stat. Um, there was 100 and 69,000 jobs created the first quarter,

Speaker 1:
which 167,000 was created in the Western Cape. I said, Hang on. This can't be It's rather, um, statistics. That's not not basically getting right from from national government, but But we can't have one province in the country growing. And there was 100 and 25,000 taxpayers that basically last year moved to the Western Cape. So this is problematic for the economy of the whole of South Africa.

Speaker 1:
And we have to to to bring the message over. And that's why we we use someone like to say to people Listen, hang on, look around. You look into yourself and see what difference you can make.

Speaker 1:
I know the fact that they say, for example, utilise your coal stations is may maybe not what the e s g people want to hear. That's a total different discussion. But we have to use what we have at the moment to create electricity to keep the lights on, because the people in the rural areas, if you really go, um, just to give you an idea, I've been in a police station the other day for a renewal of a firearm.

Speaker 1:
When the electricity is down, they not even they can't even take a phone call. So the one oh, Triple one number is not working. So someone somewhere in dire straits won't be able to to be helped. So So we have to We have to basically start giving back into the communities. And it's not about money. It's about your time It's about your efforts and creating a sustainable economy to prevent a failed state.

Speaker 0:
Absolutely, because climate change seems to be taking

Speaker 0:
the world by storm. Excuse the fun, but we've got our own unique, idiosyncratic challenges. Loadshedding right at the top of the list. But do we decommission coal fired power plants to tackle carbon emissions? Or do we try and address the electricity security that we have a challenge with in this country? I

Speaker 1:
don't have to tell the viewers basically that what you need to keep the economy going, its energy,

Speaker 1:
your water, which is the next crisis, and we are all aware of it. But it's as if we only in South Africa, we're always at a crisis. I mean, I've just read to you that in 2000 basically what people said, and the bottom line is that if you if you look at what's happening in the world, we need energy. So we have to commission our existing coal plants. Germany was they lead by example during the Ukraine war crisis,

Speaker 1:
and they basically then, um as they as they continue to, um to to to start up these these coal stations. We can't say, Listen, we're not gonna use it. So we have to choose between hospitals on on caring for patients, food security and keeping the economy alive, and then but obviously, but we may have to use this as a as a stepping

Speaker 1:
in the right direction to say, Listen, but let's move to solar and renewable whatever the case may be in the future, but we can't have it in a

Speaker 0:
and what they normally refer to. This is the just transition is now moving to renewables, considering the jobs that would be impacted.

Speaker 1:
Maybe just on that point, I always try and tell my boys, Listen, because, unfortunately a I

Speaker 1:
and take brings that imminent satisfaction. I want something now because I can order it online. I can do the following covid. I mean, accelerate that whole experience. But but certain the basics in life normally the the the things that that's for free and and the normal savvy that must prevail, takes a while, takes the investment term. It's it's long term, absolutely.

Speaker 0:
But then, just to close off the session. Lawrence,

Speaker 0:
any closing thoughts or comments regarding the annual summit this year?

Speaker 1:
Yes, I think building on last year's summit and and looking a little bit what's happening in the future. The world has never been so volatile at the moment. I mean, people try and scramble the network of individuals. Try and scramble for a second passport. Personally, I do believe I mean, you decide where you want to stay. Your money doesn't have to be all in in S A. That's why we believe in also investing as well,

Speaker 1:
but not out of negativity, but out of basically more bigger, bigger opportunities in the global space.

Speaker 1:
Um, what I take from you is definitely for our clients, for advisers, for people that we're dealing with on a daily to say. But we will deal responsible with your money. But we also believe that we have to educate our investors that you you have to have to move in the right direction. So, yes, if we do have some non e s G investments on the J C. Few, few and far between, you can find locally,

Speaker 1:
but there's a reason for we will get to it. But we can't overnight implement mad ideas from Elon Musk or the next the next Elon coming. We have to be responsible and have to be an outcome based type of investment to know when people retire. When they need money for education, it will be provided, but also to make life a little bit better for

Speaker 0:
absolutely well. On that note, Lawrence, thank you very much for your insight. We appreciate your time. Thanks for

Speaker 1:
your time. We really appreciate it.