South African politician Julius Malema has never been one to shy away from speaking his mind, and now, he’s got his sights set on the surprising liquidation of popular local sneaker brand, Drip. In a bold statement, Malema publicly questioned why there hasn’t been a business rescue plan to save the company from collapse—and why billionaire Patrice Motsepe, one of South Africa’s wealthiest individuals, hasn’t stepped in to offer support.
As the news of Drip’s liquidation made waves, Malema wasted no time in bringing attention to what he perceives as a missed opportunity. According to him, a business of Drip’s significance shouldn’t simply be allowed to fall apart without intervention. “Where is the business rescue?” Malema asked, raising concerns about how the liquidation has been handled. With Drip being a homegrown success story, he believes efforts should have been made to keep the company afloat.
Malema didn’t stop at the business rescue debate. He took things a step further, questioning why Patrice Motsepe, one of the richest men in Africa, hasn’t lent a helping hand to save Drip. “Where is Motsepe if he’s truly a billionaire?” Malema asked, implying that Motsepe, with his immense wealth, could have potentially saved the brand or at least provided some form of support.
The mention of Motsepe, known for his vast business empire and philanthropic work, adds an intriguing layer to the conversation. Malema’s comments have left many wondering if more could have been done to preserve a brand that represents black entrepreneurship and empowerment.
