Business News Leaders

Kaap Agri's diversification strategy pays off

Kaap Agri says rising fuel costs, drought conditions and policy uncertainty continue to prompt caution in the South Africa's agriculture sector - despite it's FY results having showed a near 30% rise in revenue, HEPS up 14% and the company raising its total dividend 5.8% to 123.50c. The company's CEO…

28 Nov 2019 1AM 6 min

Business confidence recovers from 20-year low

Business confidence has ticked up from 20-year lows in the fourth quarter, that's the good news. Building, manufacturing and retail trade registered improvements - confidence levels remained unchanged in wholesale trade, while morale declined in new motor trade. The bad news, is that at 26, the index still remains deep…

27 Nov 2019 1AM 5 min

Nedbank pegs SA's 2020 growth at 1%

Nedbank expects the local economy to grow modestly, with estimates for 2020 coming in at 1%. Now, while that might be higher than this year's growth estimate of 0.4%, strategists have warned that a growing budget deficit, bulging debt burden and SOEs that continue to drain resources are significant risks…

27 Nov 2019 1AM 6 min

Foreign-exchange losses weigh on Nampak

Zimabwe's currency issues are weighing on Nampak. The packaging group suffered a net devaluation loss of R1 billion due to hyperinflation in that territory. This was the main driver behind the company's 76% slump in earnings per share from continuing operations. In the meantime, the group expects the sale of…

27 Nov 2019 1AM 10 min

How Gauteng government's 2019/2020 budget is being deployed

Gauteng's 2019/20 budget sits at close to R140 billion, this after an additional R443 million was pumped into the kitty. The health department has received the lions share of the budget while that additional funding will mainly be used to fix and maintain infrastructure. Nomantu Nkomo-Ralehoko, Gauteng MEC of Finance…

26 Nov 2019 1AM 6 min

African Bank's digital focus pays off as retail deposits double

African Bank's digital push is paying off. The group's zero-fee online banking channel, My World has helped more than double its annual retail deposits. African Bank expects this transactional banking product to fast-track the company's efforts to broaden its customer base and diversify its revenue streams. Operating profit in the…

26 Nov 2019 1AM 7 min

Invicta triples profit in first-half

Industrial holding company - Invicta delivered results on Monday, almost tripling profit to R208 million. That's as new acquisitions as well as a recovery from a tax provision in the prior comparative year helped offset constrained conditions during the first half. Business Day TV sat down with the company's CEO,…

25 Nov 2019 1AM 6 min

Why S&P downgraded South Africa's outlook to negative

South Africa runs the risk of sliding deeper into junk status. Moody's, Fitch and now S&P Global also has the country's credit rating outlook on negative. S&P which already has the country's overall credit rating at junk status foresees a rapid worsening of the country's debt metrics on account of…

25 Nov 2019 1AM 6 min

MTN Zakhele Futhi lists on the JSE

MTN Zakhele Futhi has listed on the empowerment arm of the JSE. This will be the second time that MTN facilitates a listing on this nature. MTN Zakhele Futhi holds approximately 77 million shares in MTN amounting to 4% of MTN's issued share capital and will be listed for a…

25 Nov 2019 1AM 7 min

Focus on insurance industry trends

A survey by Santam on insurance trends has revealed that a number of corporates and consumers see the challenging economy as the biggest risk in South Africa over the next two years, followed by political unrest and social change risk. Joining Business Day TV in studio now with further insight…

22 Nov 2019 1AM 6 min

Tsogo Sun Hotels reports first set of results since unbundling

Tsogo Sun Hotels has reported its first set of results since unbundling from Tsogo Sun, reporting headline earnings per share of 5.2 cents. That's as it had to deal with tough trading conditions both locally and at its African operations. Business Day TV sat down with the group's CEO Marcel…

21 Nov 2019 1AM 7 min

Life Healthcare mulls Polish exit

Private hospital group Life Healthcare is exploring an exit from Poland. That's despite its international operations outperforming is local business. Business Day TV spoke to the group's CEO Shrey Virana about why the company is considering the shift in strategy.

21 Nov 2019 1AM 7 min

Sarb keeps repo rate at 6.5%

The SA Reserve Bank has erred on the side of caution and kept interest rates on hold even though its revised down its economic growth forecast for 2019 to 0.5% and inflation remains below the mid-point of its 3%-6% target band. Business Day TV's Alishia Seckam unpacked the decision with…

21 Nov 2019 1AM 8 min

SAA strike enters sixth day

Just yesterday, the South African Cabin Crew Association said that the SAA wage talks were positive, fast-forward to today and talks have collapsed. Unions, Sacca and Numsa are currently engaged in mediation under the auspices of the CCMA. Christopher Shabangu, deputy president of the SA Cabin Crew Association spoke to…

20 Nov 2019 1AM 8 min

How will PPC survive tough trading conditions?

A weak building market in South Africa coupled with hyperinflation in Zimbabwe has led to a 12.5% fall in interim revenue for PPC. Business Day TV sat down with the group's CEO, Roland van Wijnen to discuss the numbers and what it means for the company's survival.

20 Nov 2019 1AM 7 min

Will the Sarb cut interest rates?

South Africa's inflation rate hit an 8 year low in October, coming in at 3.7%. This is well below the midpoint of the Sarb's 3% to 6% target range. But is this enough to trigger an interest rate cut? Business Day TV spoke to Reezwana Sumad from Nedbank CIB to…

20 Nov 2019 1AM 5 min

SAA approaches Labour Court as strike continues

Today marks the fifth day of the SAA strike. The airline's CFO, Deon Fredericks has warned that the ongoing industrial action runs the risk of putting SAA out of business. The company has since approached the labour court to block any additional demands from unions. Political Analyst, Daniel Silke warns…

19 Nov 2019 1AM 8 min

Netcarewarns of difficulties in 2020

Netcare's warning against muted patient day growth in the next financial year, as limited medical scheme membership growth and an increasing number of beneficiaries being covered by restricted hospital network options, takes hold. The red flag comes on the back of the group's annual results out today - which showed…

18 Nov 2019 1AM 6 min

Astral reports 55% slump in annual profit amid tough conditions

Astral released its full-year numbers today reporting a 55% plunge in earnings due to the group's poultry division being hit by higher feed costs. On the other hand, the company's feed division benefitted from a rise in raw material prices helping boost revenue by 6.1%. The group says that its…

18 Nov 2019 1AM 7 min

Barloworld plots path for future growth

Barloworld released its annual results on Monday showing that revenue and operating profit have been hit by a triple whammy. The closure of the group's loss-making logistics business, logistics revenue falling back nearly 13% and the automotive division's revenue also down, But it has managed to lift operating profit by…

18 Nov 2019 1AM 7 min