Among the European Union’s unspoken secrets is the way it benefits Germany. That country’s exports are priced in a currency whose value is determined through a merger between Teutonic excellence and less productive allies.
A German-only currency would be far stronger than the Euro – and its business sector’s exports a lot less competitive.
Skilled South Africans are also starting to arbitrage their environment. SA-based business costs are priced in a weak currency; but in today’s networked world, talent-derived products can be sold anywhere on earth.
Rob and Sam Paddock have proved the theory with their Cape Town-based getsmarter.co.za, building a 350 person company that serves thousands of students worldwide.
The Paddocks offer a university campus-type learning experience to anyone who has a computer and access to the internet. They started with short courses on fast developing sectors like Big Data and Fintech, enrolling Sub Saharan African student in partnerships with UCT and Wits.
Then went global in a partnership with the prestigious MIT of Boston; and have just signed with the UK’s iconic Cambridge University.
The Paddocks have discovered a way to have their cake and eat it – selling highly skilled but low cost South African talent into hard currency geographies. All the while enjoying the unmatched lifestyle of their beloved Cape. It’s a model we can expect to see more of in future.