The business fraternity in South Africa is mourning the death of well-known economist and founder of economists.co.za Mike Schüssler.
It was announced on Tuesday morning that Schüssler passed away after a short, brave fight against cancer at the age of 60.
Messages of condolences have been pouring in for the business-minded economist.
Abigail Moyo, spokesperson for the trade union UASA, said: “UASA extends its heartfelt condolences to the family and friends of well-known South African economist Mike Schüssler.”
“UASA takes note of Schüssler’s considerable contribution to the South African economy as an economist and shaping UASA’s economic perspective through researching and presenting the annual UASA South African Employment Report (SAER) for two decades. His more recent presentations included the 19th UASA SAER on the effects of the Covid-19 pandemic on the South African economy and jobs in 2020, and the 20th UASA SAER, for which he researched and presented his views on South Africa’s unemployment crisis in a post-Covid world,” she said in a statement.
“On behalf of UASA’s National Executive Committee, UASA staff and our members, we express our heartfelt condolences to his family and loved ones. We hope and pray that they will receive all the support they need during this challenging time,” Moyo further stated.
BankservAfrica
BankservAfrica expressed its deep sorrow on the passing of the economist.
Since 2012, Mike has been the consulting economist and media spokesperson for the monthly BankservAfrica Index.
Jan Pilbauer, CEO of BankservAfrica, said, “Mike Schüssler has been a partner and a friend to BankservAfrica for many years. On behalf of the team, I would like to send our deepest sympathies and sincere condolences on the passing of Mike. Our thoughts and prayers are with his family at this sad time. As an economist and as a citizen, he will be remembered for his selfless service of sharing information regularly and ensuring its relatedness for each and every business-minded South African. He will be sorely missed.”
Take a look at some of the messages posted on Twitter below:
Mike Schussler was patient, accessible, kind and generous with his time. He made complex concepts accessible and aided generations of reporters, including me, to tell stories better. Thank you Mike.
— Bruce Whitfield (@brucebusiness) May 24, 2022
So sad to hear about the passing of Mike Schussler,good friend and consulting economist to Brenthurst, after short battle with cancer. Was a truly gifted economist and communicator on technical issues. Condolences to wife Greta and family. RIP my old friend….
— Magnus Heystek (@MagnusHeystek) May 24, 2022
Mike Schussler was the definition of a mensch 💔
— Nickolaus Bauer (@NickolausBauer) May 24, 2022
SA financial journalism has been robbed of a man always generous with his time and intellect.
Never a question too simple or too complicated.
Helping all journalists explain to South Africans the complexities of our economy.
Terribly sad news to hear that @mikeschussler has passed away. One of the sharpest analytical minds in the field of economics. His forthrightness on SA’s fortunes were sobering and much needed. My thoughts and prayers are with his family.
— Dean Macpherson (@DeanMacpherson) May 24, 2022
South Africa has lost a gifted and respected economist today with the passing of Mike Schussler. Our sincere condolences to his friends and family.
— IntegriSure (@IntegriSure) May 24, 2022
South Africa lost one his most critical thinkers today, Rest in power Mr. Mike Schussler.
— Levi 🇨🇩 (@UBGK12) May 24, 2022
My deepest condoleances to his family during this hard time of sorrow. 💔 pic.twitter.com/XDu1kFYSoV
Schüssler’s career spanned more than 30 years, in which he has excelled in many different sectors of the economy.
Schüssler’s company, economists.co.za, shared the following information about the economist’s celebrated career:
In his early years he worked at Transnet, the Treasury, FBC Bank, EW and SAA, where he gained valuable experience and insight into the transport sector of the economy, which remained one of his niche focus areas throughout his career.
His career developed towards consultancy in 2000, and in the eight years to 2008, Mike was the chief economic consultant to T-sec (previously known as Tradek.com).
With this in-depth experience in the investment industry added, he founded his own independent consultancy, economists.co.za, in 2005.
At economists.co.za, Mike’s passion and insight into the economy really came to fruition. He consulted widely, to high-profile local and international clients, among others National Treasury, Daimler Chrysler, BP, SAPOA (the South African Property Owners’ Association), Financial Planning Institute of South Africa, DCASA (Debt Counselling Association of South Africa), Capitalworks, SAPA (South African Poultry Association), the Private Sector Health Forum and many more, including mines, banks, pharmaceutical companies, micro lenders and commodity desks at private institutions.
His research also resulted in the development of unique indicators for the South African economy, which is one of his great legacies for the South African economic sector.
In earlier years, he developed provincial economic barometers and more recently the BETI, the BankservAfrica Economic Transaction Index, the BPPI, the Private Pensions Index and the BTPI, the BankservAfrica Take-home Pay, which are released on a monthly basis and provides valuable, timeous information on the state of the South African economy.
There were also, among others, the CTrack Transport and Freight Index and the ADCORP staffing Index. Mike was also the consulting economist for Brenthurst Wealth Management and also consulted to MasterCard, the trade union UASA, and SAFCOL, the forest company, which used his input for arbitration, remuneration, inflation and pricing.
Mike has won the South African Economist of the year competition twice, in 2005 and 2007 -- one of only three economists to have achieved this.