Joffe says giving back is the Jewish way

Brian Joffe, Bidvest Group founder and former chief executive, told the Investec Jewish Achiever Awards audience that he may have built a business empire from the ground up, which now employs more than 160 000 people, but he never forgot the importance of giving back. 

Accepting the Kirsh Family Lifetime Achievement Award in honour of Helen Suzman on Sunday, 1 November, Joffe recalled how his Jewish mother had been desperate for him to become a doctor. “After 30 days or so I had to dissect the first rat and that was the end of me and medicine,” he joked. “I then switched to accounting and I think it was a very good grounding for me for the rest of my business career.” 

Considering that Joffe went on to establish corporate giants Bidvest and Bidcorp, he clearly took that “very good grounding” to stratospheric heights. 

His entrepreneurial journey started with the purchase of a 50% interest in a pet food business. “After a very short period of time in the canning business, I had quite a big share of the market and I decided to go on my own, and that’s when we started Bidvest,” he said. 

In a video honouring Joffe, Bidvest Group’s current chief executive. Mpumi Madisa, said that while many people dream and have vision, few actually make it happen. That’s what sets great businessmen like Joffe apart, she said. 

Forming a partnership with Stephen Koseff, former Investec chief executive and now Bidcorp chairperson, Joffe helped redefine the concept of focus. “They used to say the business was unfocused because we were involved in multiple activities, but what they didn’t realise was that the customer was the focus rather than the product,” Joffe said. 

“Stephen and I never wrote down a single agreement,” he added, speaking of his relationship with Investec. “We agreed everything on a napkin, and I’m talking about big-money deals. I had a special relationship with them and still have a special relationship with Stephen.” 

While he stressed the importance of being hands-on in running any business that one buys, Joffe also emphasised the need to trust others, ultimately giving them purpose and shaping their careers. “There’s no such thing as ‘I’m doing everything by myself’.” 

He joked that one of the criteria for receiving the Lifetime Achievement Award is to be old. Speaking from the heart, Joffe thanked the people integral to his life, including his wife, children, and extended family. 

He also honoured the Bidvest and Bidcorp teams. “There were 140 000 employees at the company when I left,” he said, “and having to look after 140 000 people and their families is like looking after a city. So, it was quite challenging going to bed at night knowing that a whole city was dependent on the decisions I would make.” 

Reflecting on the difficulties facing the Jewish people, Joffe said that while these can be overcome, we face considerable hurdles in handling the new world of antisemitism. “It’s critical from that point of view that Jews all over the world, and especially South African Jews, stick together, work together, live together, and help each other out,” he said. Now living in Israel, Joffe said that the future of that country and of the wider Jewish world is uncertain, with hard work required to move beyond challenges. 

Joffe acknowledged that philanthropy doesn’t always come naturally as people accumulate wealth. “One of the responsibilities of entrepreneurship isn’t only making, it’s also giving,” he said. “To all the people who can afford to give, it’s a great privilege to be able to do that. You feel good and you get back more than you give. It’s part of the Jewish way.” 

Joffe also highlighted the value of supporting the SA Jewish Report, calling it the backbone, spokesperson, and glue in helping South Africa’s Jewish community, and those around the world, overcome the challenges they face. Ultimately expressing hope in our collective future, he concluded his speech with the words “Am Yehudim Chai” (the Jewish people live)”.