Thank heaven for overseas money. Without it, what would Cape vineyards do?

Without the hard currency and dedication of foreign owners, SA would be in the vinous dark ages

16 June 2021 - 19:18 By Michael Fridjhon

In the mid 1980s, as the late Hans Schreiber was buying up high-profile viticultural property in Stellenbosch, a serious concern was expressed — in newspaper columns and not just at jukskei competitions — about the sale of heritage sites to foreigners. It was in a time of enforced isolation. PW Botha ruled with an iron fist in a chain-mail glove. Presumably those who were editorialising believed he would simply wave his tungsten-plated arm and foreign investors would be sent on their way with their deutschmarks in their pockets and their tails between their legs.

Their sentiments were hardly original or uniquely South African. When the British Pearson Group acquired Bordeaux First Growth Chateau Latour in 1963, the French establishment tried to persuade the president to block the sale. Charles de Gaulle is said to have responded: “They can’t very well take the soil with them.”..

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email or call 0860 52 52 00.