Business News Leaders

Seriti inks deal for South32's coal assets

Seriti Resources has reached a deal with South32 for the miner's coal assets. The agreement stipulates that Seriti will provide South32 with an upfront payment of R100 million and 49% of the free cash flow from the assets until March 2024. That component of the deal will however be capped…

6 Nov 2019 1AM 6 min

Can the rand's rally be sustained?

The rand has been given a boost following Moody's decision to not downgrade South Africa's credit rating to junk status even though the rating agency lowered SA's outlook to negative. Business Day TV spoke to RMB senior trader Marc Viakovsky for more detail.

5 Nov 2019 1AM 5 min

Manufacturing data improves

South Africa's business activity in the broader manufacturing sector rose in October, hitting 48.1 points from a revised 45.1 in the previous month. The rise in the headline index was driven by improvements in the business activity and new sales orders indices. Economist at Absa Miyelani Maluleke joins Business Day…

1 Nov 2019 2AM 6 min

Afrimat says diversification is paying off as dividend almost doubles

Afrimat's diversification strategy is yielding results. The building materials and industrial minerals group has reported a 19% jump in interim revenue and a 56.9% surge in operating profit. This allowed the group to almost double its dividend to 36 cents. Business Day TV caught up with the company's CEO Andries…

31 Oct 2019 2AM 4 min

How to find growth in a low growth environment

The IMF's latest global economic outlook, took a bearish turn, with it forecasting the slowest pace of growth since the 2008-2009 financial crisis for this year. And current political spats and tensions are certainly doing no favour - bringing with them a lack of visibility as far as where global…

31 Oct 2019 2AM 7 min

Are e-tolls here to stay?

Speaking in his medium-term budget policy statement, Mboweni said that after considering a number of issues, it was decided that government would remain committed to a 'user-pay' model, showing support for the e-tolling system. He said that South African motorists needed to leave behind the culture of non-compliance, again, imploring…

31 Oct 2019 2AM 8 min

SA's jobless rate continues to climb

South Africa's unemployment rate reached 29.1% in the third quarter climbing to its highest level in over a decade. The expanded unemployment rate, which includes discouraged job seekers, came in at 38.5%. Business Day TV sat down with Stanlib's chief economist Kevin Lings to discuss some of the factors that…

29 Oct 2019 2AM 8 min

Gordhan presents long-awaited plan to rescue Eskom

Public enterprises minister Pravin Gordhan has delivered his proposal on turning Eskom around and after detailing the SOEs numerous failures, he's asserted that in order to effectively revive the utility an entirely new business model would need to be implemented. Business Day TV spoke to Gordhan for more detail.

29 Oct 2019 2AM 8 min

Does CEOs exit at Sasol restore investor confidence?

An independent review of Sasol's US project has led to a number of executives taking the decision to step down. Chief amongst them being the joint CEOs, Bongani Nqwababa and Stephen Cornel. But does this do anything to restore trust? Business Day TV spoke to Peter Major from Mergence Corporate…

28 Oct 2019 2AM 6 min

Sasol CEOs resign over Lake Charles cost surge

After two delays, Sasol released its annual numbers, adjusted earnings before interest, tax, depreciation and amortization fell by 9%. The results were placed on hold to investigate cost overruns at its flagship Lake Charles project which will now cost the company as much as R190 billion, that's double the original…

28 Oct 2019 2AM 7 min

Famous Brands ups fast-food focus as economic conditions bite

Famous Brands is hoping that its shift to more convenience-food offerings to consumers will pay off in the upcoming holiday season. This comes after the company noted that its takeaway and fast food outlets outperformed restaurants and coffee shops during the interim period. Business Day TV sat down with CEO…

28 Oct 2019 2AM 6 min

What Russia's partnership promises mean for Africa

Trade between Russia and South Africa must increase. That's the agreement between President Cyril Ramaphosa and his Russian counterpart President Vladimir. With representation from every African country though, leaders across the continent have turned to Russia as a promising partner, seeking expansion in trade AND Co-operation in politics... Glenn Silverman,…

25 Oct 2019 2AM 6 min

Altron is confident that it can double EBITDA

The tough local economy did not hold Altron back - it's delivered solid half year results. HEPS from continuing operations came in 4% higher at 73 cents - on the back of a 8% rise in revenue to 8.5 billion rands. Altron CEO, Mteto Nyati spoke to Business Day TV…

24 Oct 2019 2AM 5 min

Is SA on track to meet Ramaphosa's investment target?

Foreign Direct Investment inflows have more than doubled from the first quarter to the second quarter suggesting that we could be on track to meet President Ramaphosa's investment target of R1.2 trillion in five years. But with depressed growth levels and the state of SOEs, particularly Eskom how do we…

24 Oct 2019 2AM 8 min

How Clicks plans to up its market share

New store rollouts and a harder push into the retail pharmacy market is proving to be the right medicine for Clicks. The group is reporting a near 8% rise in revenue, headline earnings are up by over 12% - this as over half of the population lives within 5 kilometers…

24 Oct 2019 2AM 5 min

Has government managed to satisfy stakeholders with the new resource plan?

The long-awaited Integrated resource plan, known as the IRP has been published. It outlines the country's long term energy investment plan to 2030 but does it address the energy crisis we're facing right now? Because if it doesn't - does it then run the risk of being another objective -…

23 Oct 2019 2AM 7 min

DA suffers leadership exodus

The DA is suffering a leadership crisis - Mmusi Maimane has resigned as leader of the party along with Chair, Athol Trollip just a day after Joburg Mayor, Herman Mashaba did the same. Business Day TV spoke to Political Analyst, Ralph Mathekga for his views on what this means for…

23 Oct 2019 2AM 8 min

Inflation slows in September

Cartrack reported half year results on Wednesday, delivering a 19% rise in revenue with its total subscriber base accelerating by 22% to over a million during the period and this further translated into a 28% jump in headline earnings per share to just over 72 cents. Business Day TV sat…

23 Oct 2019 2AM 6 min

IRP met with mixed reactions

There's been mixed reaction to government's energy blue print, while some are glad for a bit more certainty around new generating capacity, the IRP has been criticised for its over reliance on coal while some analysts believe that the same mistake is being made in terms of assuming that electricity…

22 Oct 2019 2AM 9 min

Pick n Pay reports double-digit profit growth as turnaround plan pays off

Retailer, Pick 'n Pay released its interim numbers on Tuesday, posting a near 10% rise in earnings as the group's turnaround strategy pays off helping offset a poor performance in its Rest of Africa division. In the meantime, the company's gross profit margin has advanced to 19.8% from 18.8%. Business…

22 Oct 2019 2AM 7 min