Modest mogul Hassen Adams to retire in January

The chairperson of Grand Parade Investments (GPI) said earlier this month he would be retiring in January - leaving a legacy not only of financial astuteness, but of empowering people and community involvement.
It was at the tender age of 8 that Adams, who was born in District Six, started selling the Argus newspaper, then went on to design buildings and renovate grand old ladies such as the gracious Standard Bank building in Adderley Street.

Among the many key positions he’s held or holds is as chairperson of GrandWest Casino Ltd, executive chair of Burger King South Africa, director of Gold Circle, director of Cape Town Fish Market and director of Afriserve.

GPI was also responsible for launching the first Dunkin’ Donuts in South Africa and the first Baskin-Robbins ice creams in the country.

It was in 1997, more than 22 years ago, that Adams started building an empire, when he founded GPI. The founding shareholders (more than 20000 of them), largely from disenfranchised communities, invested seed capital of R28 million.

Hassen, speaking in a frank phone interview, said “that was a meagre R28m. It has paid back more than 150 times. I’m proud of what we could do for people.”

Talking of stepping down, he said: “I have done my job. I have had a major send off at Grand Parade Investments and it’s an amazing feeling to know that I allowed people who were never part of the mainstream economy to be part of it. We established a BEE income before that was a word in our vocabulary and nobody has been denied.”

Earlier this year, Adams was ill with cancer. He has successfully navigated a recovery path.

“It’s been a great eye opener and also made me realise I really want to step down.”

Reflecting on a life lived to the full, Adams said he was thinking of writing a book on what he has done and his contributions to communities, while at the same time seeing massive returns on his investments.

The latter has allowed him to own one of the top 10 stud farms, in the Hemel-en-Aarde valley, where his horses have been champions in top races.

He also owns a farm overlooking the Atlantic Ocean on the West Coast.

But he repeats that it’s his love for people that has made him a “community animal”.

“I’ve enjoyed my journey and my work in the community. Humility is important in my life and I feel you must never act rich; you must act wealthy - to invest in people and be selfless.”

Talking about how he operates, the man with the Midas touch says: “One must delegate authority. At GPI we have a staff of 4 000. I trust them. I don’t deal with smoke - I’m the firefighter. That’s what leadership is all about.”

About challenging new frontiers, he says: “You know life carries on regardless. There’s intelligence and there’s intellect and the issue of thinking outside the box.

“In life one needs largeness - I don’t need negative energy and one needs to always be cognisant of acting unselfishly.”

pity he did not retire the poor "Big Mac" instead of selling that Grade 1 winner to the sticks

I'm sure I read somewhere that there was a vote of no confidence by the majority of shareholders and he had to hand over the day to day running of the operation.

Well done Mr Adams. While other elites were making rich people poor, you made some poor people rich!!

Enjoy your retirement.

A legend for sure, great to hear he is beating the big C.
Hope he is not lost to racing, his interviews are always interesting and controversial.

Felix wrote: I'm sure I read somewhere that there was a vote of no confidence by the majority of shareholders and he had to hand over the day to day running of the operation.

That is fairly accurate - and was also the move that sparked an almost 30% jump in the share price.

Mac de Lago's recent demise and his unprovoked outburst at the Kenilworth RA meeting ....... good luck to him.

Sylvester Not many people who have dealt with him would describe him as modest