Business News Leaders

Rand breaks through R14/$ for the first time since April

The rand strengthened on Thursday morning to reach its best level since mid-April, with the local currency breaking through the R14/$ mark as markets continue to bet on the likelihood that the US Federal Reserve will cut interest rates soon. Alfonso Esparza from Oanda spoke to Business Day TV for…

4 Jul 2019 2AM 5 min

SA's place in the fourth industrial revolution

A task team has been established to advise the minister of higher education, science and technology on how to manage the threats and opportunities posed by the fourth industrial revolution. The appointment of the task team was one of former higher education and training minister Naledi Pandor’s last official acts…

4 Jul 2019 2AM 8 min

Is Legarde what the ECB needs right now?

European Union leaders have named France’s Christine Lagarde as the new head of the European Central Bank. Financial advisory firm deVere Group says that Lagarde is a known quantity and she represents certainty even though she is not know as a leading economist. Business Day TV spoke to international investment…

3 Jul 2019 2AM 6 min

Is passive investing gaining traction in SA?

Passive investing continues to be a popular strategy for investors across the globe. In the US, ETFs for example have made massive inroads with this investment tool accounting for as much as 13% of all fund assets in America. For closer look at the popularity of passive investing in South…

3 Jul 2019 2AM 6 min

Why the appointment process at SOEs matters

Chief Justice Mogoeng Mogoeng, during his address at The Directors Event in Sandton, highlighted the issue of board and other leadership appointments in the public sector. I think we should begin to think about tests that people must be subjected to before they can be elevated to positions of high…

3 Jul 2019 2AM 7 min

The potential consequences of prescribed assets

The ANC’s election manifesto says it intends to investigate prescribed assets to fund social and economic development.This has prompted criticism with the Helen Suzman Foundation saying that the move would have a "very real negative impact" on South Africa's economy. Alexander Forbes agrees saying the company "is opposed to any…

2 Jul 2019 2AM 7 min

Bezuidenhout steps down from Fastjet to rejoin Mango

SAA has confirmed that Nico Bezuidenhout will return as CEO of its low-cost carrier, Mango Airlines. Bezuidenhout, who resigned as head of Mango in 2016 to join pan-African airline Fastjet, will again take over the helm at Mango in October, said SAA. Business Day TV caught up with Bezhuidenhout to…

2 Jul 2019 2AM 6 min

Opec extends oil cuts for eight more months to support prices

Opec has agreed to extend oil supply cuts until March 2020 according to three Opec sources. This will allow the oil cartel to prop up the price of crude amid a weakening global economy and rising US production. Opec and its allies led by Russia have been reducing oil output…

1 Jul 2019 2AM 5 min

Absa PMI ticks up in June

Factory owners experienced an uptick in activity in June, when the seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 46.2 index points from 45.4 in May. The average level for the second quarter was 46.3 points, however, below the level recorded in the first quarter of 2019. PMI indicators…

1 Jul 2019 2AM 6 min

Sars to crack down on non-compliance

The 2019 tax season has opened for eFilers and users of the SARS MobiApp with South Africa's deputy finance minister David Masondo making it clear that the country's economic recovery is dependent on an efficient tax agency. Business Day TV spoke to Sars commissioner Edward Kieswetter to discuss how the…

1 Jul 2019 2AM 7 min

Basil Read cuts staff in fight for survival

South Africa's construction sector is under immense pressure. This week alone, Group Five announced that it would slash its workforce by three thousand, while Basil Read is retrenching all staff not working on projects to cut costs. Mohau Mphomela, Executive director at Master Builders Association North sat down with Business…

28 Jun 2019 2AM 8 min

PPC delivers a solid first-half performance

PPC's delivered a solid first-half performance. And that's despite having to deal with a number of once-off costs and a challenging trading environment across the markets it operates in. Headline earnings per share for the period came in 33% higher, while revenue rose 1% with total cement volumes increasing by…

28 Jun 2019 2AM 7 min

All eyes on Trump-Xi trade war meeting at G20

U.S President Donald Trump and Chinese President Xi Jinping have landed in Japan for this year's G20 summit where all eyes will be on the leaders of the two countries as they meet to discuss trade issues. Jasper Lawler from the London Capital Group spoke to Business Day TV about…

27 Jun 2019 2AM 5 min

AfrAsia Bank forecasts solid wealth growth in SA over the next decade

A weak rand, as well as a significant decline by the JSE's All Share index weighed on South Africa's wealth market last year. According to a recent AfrAsia Bank report, total private wealth held by people living in the country declined by 10% to 649 billion dollars. Colin Grieve, Chief…

27 Jun 2019 2AM 7 min

How will SA's manufacturing sector fare in 2019?

South Africa's manufacturing sector has come under pressure with the industry contracting by 8.8% quarter-on-quarter in the first three months of the year but the sector has started the second quarter on a firm footing as output jumped 4.6% in April. Business Day TV sat down with Sappi's Southern African…

26 Jun 2019 2AM 5 min

Etion blames weak SA economy for poor performance

JSE-listed technology group Etion has slipped into the red. The company has reported an annual headline loss per share of 0.56 cents and has blamed the weak South African economy for the poor performance. Business Day TV sat down with Etion's CEO Teddy Daka to discuss the numbers in more…

25 Jun 2019 2AM 7 min

What to do about SA's unemployment crisis

Non-agricultural employment in South Africa improved by 0.8% year-on-year in the first quarter, with employers adding 76,000 staff to their payrolls.Sanlib's chief economist Kevin Lings however has noted that this improvement is modest relative to the growth in SA's labour force, which increased by roughly 600, 000 people over the…

25 Jun 2019 2AM 5 min

Acquisitions boost Invicta's full-year profit

Industrial equipment distributor Invicta has weathered what it calls "one of the toughest years on record". The company has reported a 5% increase in revenue driven by acquisitions but gross margins came under pressure as overhead costs increased. Business Day TV sat down with the company's CEO Arnold Goldstone to…

24 Jun 2019 2AM 7 min

Astral makes temporary costly plan to secure water

Poultry producer Astral Foods, which said in May that water-supply issues at its Standerton facility had already cost it at least R85m, says it has agreed to an "emergency" but costly arrangement with the local municipality that will allow it to operate as normal. Andy Crocker, MD of the company's…

24 Jun 2019 2AM 7 min

Afrimat Construction Index shows marginal annual improvement

Afrimat's Construction Index (ACI) for the first-quarter reflects the same disappointing trend evident in overall economic activity. However, Economist Dr Roelof Botha, who compiles the index on behalf of Afrimat, says it's encouraging to note that the first-quarter ACI had improved on a year-on-year basis, which was better than the…

21 Jun 2019 3AM 6 min