Prasheen Maharaj

Prasheen Maharaj, the chief executive officer and owner of Sandock Austral Shipyards, leads the largest shipyard in southern Africa.

In addition, Prasheen serves as the president of the Durban Chamber of Commerce and Industry and South Africa’s Maritime Industry Development Network, reflecting his broader influence in the business and maritime sectors.

Prasheen’s upbringing was shaped by the realities of Apartheid-era South Africa. He grew up in a formerly Indian suburb, where he attended Pollock Primary School and later, New West Secondary for high school. Despite the challenging circumstances, he was determined to pursue higher education. “Coming from an extremely disadvantaged back- ground, up until the age of 16, I grew up in a house with over 40 people, one bathroom, and two outside toilets. I know the struggle of poverty,” Prasheen reflects.

He went on to study at the University of Natal, where he earned a BCom degree. Recognising the value of continuous learning, he later completed an MBA. When the Covid-19 pandemic hit, Prasheen used the opportunity to further his education, earning a master’s degree in supply chain management from the University of London and another in strategy from the University of Portsmouth.

CONSCIOUS CAPITALISM
Prasheen’s career began modestly, with his first job at 12 years old, handing out pamphlets. After completing his university education in 1996, he landed a two-year internship in merchant and investment banking through a Black graduate management development programme. This pro- gramme was part of South Africa’s efforts to integrate previously disadvantaged people into the mainstream economy, particularly in sectors like financial services, merchant banking, and asset management.

Over the years, Prasheen climbed the corporate ladder, driven by a philosophy he describes as “conscious capitalism.” He explains, “In business, everything I do is about doing it for the greater good. The driving force is to ensure that our country, graduates, and employees have hope, and to align ourselves with the economic development goals of the country.” His leadership is characterised by a commitment to addressing unemployment, inequality, and poverty, and by striving to make South Africa a manufacturing nation.

One of Prasheen’s proudest accomplishments is his role as the sole shareholder, alongside the Workers Empowerment Trust, of Sandock Austral Shipyards. Under his leadership, the shipyard has achieved remarkable feats, including building the largest and most complex hydrographic vessel in the world. “We’re the only company on the African continent to have ever refitted a modern navy frigate,” he says proudly.

Prasheen’s contributions to the maritime industry have not gone unnoticed. Two years ago, he was honoured with the inaugural Blue Oceans Economy Champion award, recognising his impact on South Africa’s maritime economy. On a personal level, Prasheen takes immense pride in his family, particularly in providing his children with opportunities he never had. “For me, to raise a happy, healthy family and to be able to give my children and my wife the best opportunities in the world, that makes me very proud,” he shares.

Speaking of his mentors, Prasheen says that he has had numerous sources of inspiration over the years. However, he believes the best advice he received was from his late business partner Don Mkhwanazi who told him, ‘Don’t associate yourself with mediocrity’. “From that day, in all that I do, whether it’s in business or whether it’s in personal or whether it’s my philanthropic endeavours, I always strive for excellence because when you do I think the result is always good. I will treasure that bit of advice.”

Prasheen’s journey has not been without challenges. He cites overcoming the “poverty mindset” as one of his personal hurdles. “You have to convince yourself you are good enough to go to university and earn this degree. Even today, I still don’t truly believe I be- long where I am,” he admits. However, this mindset keeps him grounded and grateful. “Every day I ex- press gratitude in the naivest fashion possible. I think when the universe feels my gratitude, it gives more.”

In business, one of his toughest challenges came during the state capture years in South Africa. “The Guptas wanted a slice of every state contract, and we refused to participate. It was soul-destroying, but in the end, I can still hold my head high in society and say, despite that biggest challenge, despite not paying the bribes, we survived, and we prospered,” Prasheen recalls with pride.

TEAM MOTIVATION
Prasheen motivates his team with a realistic and resilient approach to business. He often reminds them that business, like life, is a roller coaster with ups and downs. He emphasises the company’s values acronym, SPEAR: Safety, Perseverance, Excellence, Achievement, and Reward. “I remind them that our good days are coming, so you need to persevere and don’t give up,” he advises.

He draws inspiration from Warren Buffett, who built his business slowly and steadily, without taking unnecessary risks. “He just used common business sense. And let the compounding effect make him extremely wealthy. I take great inspiration from that kind of business philosophy. I want to ensure the sustainability of my business so I can preserve and create more jobs.”

Prasheen’s vision extends beyond his business. He believes in the potential of partnerships to address the challenges facing KwaZulu-Natal and South Africa. “My vision is to create a genuine co- operative and collaborative partnership between the private sector and government at the local and provincial levels to work together as a patriotic team,” he asserts.

He emphasizes the importance of the Zulu concept of Ubuntu – “I am because you are” – as a guiding principle for fostering mutual support. Prasheen is committed to ensuring that Sandock Austral Shipyards and other businesses contribute positively to society while remaining globally competitive.

In conclusion he says, “The biggest thing in life is that people give up. They go to 90% there and they don’t see through the last 10% because they think they won’t make it. My motto is ‘In the end, everything is OK. If it’s not OK, it’s not the end’.”