Business News Leaders

Ramaphosa seeks judicial review of public protector's Bosasa report

President Ramaphosa has labelled the Public Protector's Bosasa report fundamentally flawed and has applied to have it placed under urgent court review. The report finds that the president intentionally misled parliament about a half a million rand donation to his election campaign from Bosasa, an organisation with links to State…

22 Jul 2019 2AM 7 min

Amplats report surge in first-half profit but warns Amcu now is not the time to 'get carried away'

Anglo American Platinum has declared a chunky dividend of R11 per share. That's thanks to headline earnings more than doubling to 7.4 billion rand as the miner benefited from higher metals prices.But, Amplats has warned the Association of Mineworkers and Construction Union that it musn't get too excited by this…

22 Jul 2019 2AM 8 min

Gautrain to spend R2bn on expansion plans

The Gautrain Management Agency is planning to spend up to R2 billion to acquire second hand additional rolling stock from the UK. This is an attempt to deal with the capacity constraints on the high-speed train network. Joining Business Day TV on the line to discuss the expansion plans in…

19 Jul 2019 2AM 6 min

PepsiCo offers to buy Pioneer Foods for R23.5bn

In a vote of confidence about South Africa's long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth over R25 billion. Meanwhile Zeder Investments which has a near 30% stake in…

19 Jul 2019 2AM 6 min

Sarb announces first rate cut in over a year

Reserve Bank Governor, Lesetja Kganyago announced the first interest rate cut in over a year - a unanimous decision to cut by 25 basis points. A panel of experts joined Business Day TV to unpack the thinking that may have gone into that decision, Tertia Jacobs, Treasury Economist at Investec,…

18 Jul 2019 2AM 8 min

Has Jacob Zuma's testimony further damaged his reputation?

The Zondo Commission of Inquiry into State Capture is set to resume tomorrow but according to former president Jacob Zuma's legal counsel, he will only continue his testimony if the commission sticks to the rules. Former MP, Ben Turok talks to Business Day TV about Zuma's testimony and says that…

18 Jul 2019 2AM 7 min

Sarb cuts rates to stimulate growth

Well as expected the Sarb has cut rates for the first time in over a year. The MPC cut rates by 25 basis points to 6.5%, citing weak economic growth and inflation which has stayed around the midpoint of its target range. Business Day TV caught up with Peter Attard…

18 Jul 2019 2AM 5 min

Ford to employ 1,200 more workers on Ranger bakkie demand

Good news on the jobs front with an increased demand for the new Ranger and Ranger Raptor, Ford South Africa will be hiring an additional 1200 workers to push production. The American-owned motor company has invested over R11 billion in South Africa since 2009. Neale Hill, MD of Ford Southern…

17 Jul 2019 2AM 7 min

Retail sales growth beats estimates in May

South Africa's spenders seem to be loosening their purse strings. Retail-sales growth has beaten expectations for a second straight month in May - with sales up 2.2% from a year earlier compared with a revised increase of 2.7% in April. Alec Abrahams of Sasfin Securities joined Business Day TV to…

17 Jul 2019 2AM 6 min

Weaving through the intricacies of the retail sector

Retail sales growth outpaced analyst expectations in May coming in at 2.2% year-on-year versus 1.7%. On a month-on-month basis sales are up a tepid 0.1% while quarter-on-quarter sales grew 1.7% where general dealers and retailers in textiles led the gains. Subsidiary of JSE listed Brimstone, House of Monatic, the company…

17 Jul 2019 2AM 7 min

EOH probe finds suspicious transactions worth R1.2bn

R1.2 billion in suspicious transactions and evidence of governance failings, these are the findings that has been unearthed in ENS Africa's interim update on the forensic investigation into EOH's historical licensing contracts with the state. Without mentioning names, company's CEO, Stephen van Coller says eight perpetrators are largely responsible for…

16 Jul 2019 2AM 16 min

China's economy grows at slowest rate in 27 years

China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure. While more upbeat June factory output and retail sales offered signs of improvement, some analysts cautioned the…

15 Jul 2019 2AM 5 min

Jacob Zuma testifies at state capture inquiry

In his opening remarks before the Zondo Commission, former president Jacob Zuma stated that he's been vilified, alleged to be king of corrupt people and the most corrupt. This comes after Zuma was implicated by various witnesses as being a key player in state capture. Out of the ten people…

15 Jul 2019 2AM 8 min

Jerome Powell notes concern about Facebook's Libra

Major cryptocurrencies have come under pressure after US Federal Reserve chair Jerome Powell called for a halt to Facebook’s Libra cryptocurrency project until concerns ranging from privacy to money-laundering were addressed. Business Day TV spoke to the CEO of Ovex Jonathan Ovadia for more detail.

12 Jul 2019 2AM 5 min

Africa's free-trade pact will boost manufacturing, says AfDB

The African Development Bank is hopeful that the continent's free-trade pact will boost manufacturing in Africa and shift the region away from its over-reliance on volatile commodity exports. African leaders are hopeful that the deal will create the world's largest free-trade area when the zone comes into operation in July…

11 Jul 2019 3AM 8 min

Rebosis plans to sell most of its retail portfolio

Rebosis property fund saw its share price plunge by close to 67% in the first half of the year. Thats as its had to deal with high debt levels, a poor performance by UK mall owner New Frontier Properties and difficulties in renewing government leases. And as a result the…

11 Jul 2019 3AM 6 min

A review of Matjila's testimony at the PIC inquiry

Former Public Investment Corporation (PIC) CEO Dan Matjila took to the stand for a fourth consecutive day on Thursday to present testimony to the commission of inquiry into the PIC. Its been a week of denials, further accusations levelled against Matjila and allegations of political interference. Business Day reporter Warren…

11 Jul 2019 3AM 8 min

Emerging markets in focus as Fed signals rate cut

Per Hammarlund from SEB sheds light on what the Fed's rate cut signal means for emerging markets.

10 Jul 2019 12PM 7 min

Outa willing to help government find solutions to the e-tolls impasse

Minister of Transport Fikile Mbalula has made it clear that scrapping etolls will not be economically viable. This comes after he was tasked with calming the feud between Finance Minister Tito Mboweni and Gauteng Premier David Makhura who are at loggerheads on the issue. President Ramaphosa wants a resolution on…

9 Jul 2019 12PM 7 min

Escponent shows resilience in a weakening economy

Small-cap financial services group Ecsponent, has shown resilience in a weakening economy. The group says although its not entirely immune to the greater economic and political environments, Its business model remains unchanged... Business Day TV sat down with Company CEO, Terence Gregory for more detail on the company's business update…

5 Jul 2019 2AM 7 min