BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
What's News: The hidden forces behind stocks' sharp sell off
As coronavirus ripples through markets, the Wall Street Journal's Gunjan Banerji reveals the invisible forces that are exacerbating this week's wild swings. Charlie Turner hosts.
Outraged unions fight govt cuts; fresh SAA bail-out; coronavirus leaps outside China; Massmart, Implats
In today's business news headlines: * The credibility of South Africa’s proposals to curb debt and save its sole investment-grade credit rating will be put to the test by powerful labour unions outraged by plans to pare back the wage bill; * Finance Minister Tito Mboweni has told journalists the…
Ticking time bomb: unsecured debt is a major risk - Alec Hogg, Dave Woollam
In an article warning that the United Nations has unsecured lending on its list of concerns, Malcolm Rees points out that there is much as R208bn in outstanding unsecured and short-term credit in South Africa, accounting for 11% of all outstanding credit. "To put that in context, the nominal value…
Mboweni 'kicking the can down the road' in his decision not to raise taxes - Economist Dawie Roodt
Finance Minister Tito Mboweni said in his budget speech that pundits who expected a VAT increase had misread Government’s messages. He said there was little scope to increase taxes without pushing the South African economy deeper into the mire. Economist Dawie Roodt does not agree and told Biznews that Mboweni's…
Collision course with unions; Telkom lay-offs challenged; Tax relief; Money for SAA, Denel; Market cheer
In today's business headlines: - The government has set a collision course with labour unions as it was announced by the National Treasury that pay increases and promotions will be limited, saving R16bn over the next three years; - Unions have challenged Telkom in court on its plans to cut…
FM Tito Mboweni goes after "fabulously rich 'men of the cloth' who don't pay tax"
At a pre-budget speech press briefing, Finance Minister Tito Mboweni said the government could no longer afford to sit back and watch controversial "men of the cloth" flaunt their wealth while they found creative ways of evading tax. He has announced taxes for their sins, which according to Mboweni included…
Finance Minister Tito Mboweni announces some tax cuts
Against the expectation of many analysts, Finance Minister Tito Mboweni did not raise Value Added Tax or increase tax for individuals and instead opted for tax relief in some brackets. He also raised the ceiling for transfer duties on property.
Listen: Finance Minister Tito Mboweni's full 2020 Budget speech
Finance Minister Tito Mboweni delivered his budget speech in Parliament this afternoon and seems to be resigned to the fact that South Africa will be downgraded to junk status by ratings agency Moody's. He refrained from any tax and VAT increases and said that persistent electricity problems will hold back…
Hail Mary Budget betting on divine (resources boom) intervention
SA’s colourful finance minister Tito Mboweni cracked his customary jokes in a relaxed Presser ahead of today’s Budget Speech. And he hardly missed a beat during the flurry that followed the live tweeting of his obviously embargoed comments by an SABC staffer (a first for “lock-up” which led to the…
40-50 years of underperformance at Eskom due to problems at Kusile and Medupi – Chris Yelland
Energy expert Ted Blom warned this weekend that loadshedding could haunt South Africa for at least another five years. Blom said he believed it could take Eskom that long to sort out its coal problems and its maintenance backlog. He also mentioned that coal stations in Mpumalanga were operating at…
Eskom pollution battle; Lights on for Tito; O’Sullivan summons Myeni; CT's 'rainless day strategy'; Shoprite
In today's business headlines: - Eskom is battling to keep all units of its biggest operational power plant at Kendal open after being served with a compliance notice by the environment ministry because of its high levels of air pollution; - Eskom has indicated that the lights would be on…
Meet Kirsten Landman: From coma to Dakar - Africa's first woman to cross the finish line
The Dakar rally, originally known as the Paris to Dakar Rally has taken place since 1978 but was moved due to security threats in Mauritania to South America for the past decade. This year, the race known as the toughest endurance rally in the world crossing dunes, camel grass and…
What's News: Coronavirus vaccine sent for human testing as outbreak grows
The first experimental coronavirus vaccine was sent by Moderna Therapeutics for testing by US regulators - Peter Novel has more on the novel technology behind it. Plus, Quentin Webb on continued investor angst over efforts to contain the outbreak. The Wall Street Journal's Kim Gittleson hosts.
Warning: Foreigners could hijack fledging dagga industry - cannabis entrepreneur
Dagga grows prolifically across South Africa - a point that hasn't gone unnoticed by astute business players elsewhere who are hoping to cash in on the world's new gold rush. In this podcast, South African cannabis entrepreneur Pierre van der Hoven outlines to BizNews founder and editor-in-chief Alec Hogg how…
SA coronavirus warning; power cuts for 5 more years - expert; gold skyrockets; Sasol plunges
In today's business news headlines: *The Rand weakened in early trade on Monday, as investors fled riskier assets following the rapid spread of the coronavirus outside mainland China; *Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus,…
Kevin Shames: Two days left to take advantage of Bright Light Solar's effective 21%pa return
In this podcast, the last one before 12J company Bright Light Solar's Prospectus closes on Thursday, CEO Kevin Shames runs us through the reasons why his business is projecting an effective 21% annual return. It's all to do with the Government's tax incentives to promote investment in small businesses and…
Saffers at coronavirus ground zero – the tide is turning in some Chinese cities
Fears of a global coronavirus pandemic is growing. The United Kingdom has reported four further cases bringing their total to 13 and Italy’s tally went up to 200 with four deaths forcing Italian authorities to shut down schools, universities, museums and cinemas, and banning all public events. There are also…
David Shapiro: Stocks on sale - Sasol at 2005 prices, Discovery at 2014. Mr Market over-reacting
South Africa's favourite market commentator David Shapiro is licking his lips at the value which South African shares are offering today's investors, especially Sasol and Discovery. He discusses the attraction of both companies in this interview, from the latest episode of Rational Radio. Not often you get to see a…
Crucial Budget week; Loadshedding halts Mboweni; No money for stats; State land released; Coronavirus Africa impact
In today's business headlines: - The week ahead will be dominated by the budget speech by Finance Minister Tito Mboweni who has to convince that a rescue plan for Eskom is on track, and that the government is ready to take measures to curb rising debt, narrow the budget deficit…
Does new technology & AI mean the end of retirement?
These days, getting and keeping a job isn’t just a matter of impressing your boss – it also means impressing the artificial intelligence (AI) technology that has penetrated all aspects of the workplace. In this episode, featuring content from The Wall Street Journal’s The Future of Everything podcast, Felicity Duncan…