BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
'Economic damage is greater than first thought' - Nedbank CEO Mike Brown
Finance Minister Tito Mboweni responded this morning to criticism from the business sector attending the World Economic Forum meeting in Davos Switzerland about the pace of structural reform of the economy saying that a process like this does take time. Mboweni also questioned whether the "business confidence forms" were actually…
Meet the young maths whiz from Jozi helping shape the future #WEF20
The youth and how they believe the present generation is messing up their future has dominated the past year and at the 2020 World Economic Forum in Davos Switzerland they were again given ample opportunity to tell delegates what they wanted for the future. Spearheading this movement is Greta Thunberg,…
Naledi Pandor on why Eskom split, visas top of foreign investor agenda #WEF20
Finance Minister Tito Mboweni accompanied by other cabinet members, Naledi Pandor and Ebrahim Patel came to the World Economic Forum to ensure investors that they are on track to bring about the reforms needed to increase growth in the South African economy. The message they received was loud and clear…
SAA, Eskom beg for cash; Africa's 'richest' money scandal; SA ready for virus?
In today's business news headlines: * State entities SAA and Eskom are in the grip of a serious cash crunch. SAA has cancelled dozens of flights with more to come; Eskom can't keep the lights on; * Isabel dos Santos, Africa's richest woman, is accused of corruption of the industrial…
Standard Bank chief Sim Tshabalala on #WEF20, digitisation and contemplated traditions
The big tech giants have stolen the lunch of many businesses. The rise of Amazon has closed many a small businesses and has in places like the United Kingdom led to high streets, the former kingdom of businesses, turning into rows of "To let" signs. In the world of banking,…
Richard Wainwright on #WEF20, stakeholder capitalism and easy 'energy crisis' wins
Investors, both local and international are not holding back on their criticism of what they perceive to be the slow implementation of structural reforms to the economy. The Head of Investec bank South Africa, Richard Wainwright told Biznews at the WEF 2020 summit in Davos that there is no denial…
Government hasn't put enough points on the scoreboard - OM's Khaya Gobodo
After a turbulent period in which Old Mutual shares fell sharply because of its protracted battle with Peter Moyo; the insurer managed to get a favourable outcome from courts this month when it was granted permission to sever ties with its former chief executive officer. Old Mutual sacked Moyo citing…
Anglo American 'engaging' with Govt to launch pilot schemes to generate its own energy - Nolitha Fakude
In December South African miners were hit by the country’s biggest blackouts as Eskom implemented 'stage 6' blackouts for the first time. It forced some of the producers, including Sibanye-Stilwater and Petra Diamonds to close their underground mines, and prompted the mining industry to ask Mineral Resource Minister, Gwede Mantashe…
ABSA's Peter Matlare on #WEF20, blockchain, challenger banks and the Davos 'watering hole'
Big banks in South Africa are in a fierce battle to claim the top spot of the biggest and best bank in the country. And now there are several new digital banks that have popped up who want to challenge the hegemony of the big banks. This year there were…
SAA slashes flights; inflation rises; scary costs of power cuts; Shoprite; Lesotho murder drama
In today's business news headlines: * South African Airways cut 38 local and international flights this week, as its bosses move to downsize the cash-strapped national carrier; * The inflation rate has risen to 4%, and another interest rate cut is possible towards the end of the year; * Shoprite shares rose…
Blockchain could be used in South Africa to prevent corruption - WEF's Sheila Warren
Blockchain is a technology that is proving to be useful all over the world and experts in the field believe Africa is the one place that could benefit the most. The Head of Blockchain and Distribution Ledger Technology at the World Economic Forum, Sheila Warren told Biznews that Africa was…
Refugees, xenophobia in SA top agenda for Western Govts - Ambassador Sankie Mthembi-Mahanyele
The attacks on foreigners in South Africa that took place last year have been widely criticised by other African governments with the Nigerian government taking the unusual step of repatriating 600 citizens after it led to tensions between the two countries. Xenophobia and refugees are the issues that South Africa’s…
Tito Mboweni off-piste: Not at #WEF20 for 'spin'
As President Cyril Ramaphosa decided not to attend the World Economic Forum meeting in Davos, Switzerland this year, and instead focus on issues back home, it's in the hands of Finance Minister Tito Mboweni to fly the South African flag. This has put a little dampener on events this year…
Saffers optimistic about future - survey; lottery scandal; Naspers into second-hand clothes
In today's headlines: * South Africans are more optimistic about the future, a trust barometer shows; * A scandal involving lottery funds has erupted; * Naspers, which was once the major force behind the SA media sector and then found Chinese tech start up Tencent before it became a giant,…
Edelman Trust Barometer 2020: SA Govt least trusted, global capitalism under pressure
For many WEF attendees, the most eagerly awaited event of the Davos week is the annual unveiling of the Edelman Trust Barometer, a 20 year old thermometer of how citizens in 28 countries perceive Governments, Business, the Media and NGOs. As in recent years, trust in institutions continues to decline…
Arran Kerkvliet: Property buy-to-rent income yields far higher in UK than SA
South African Arran Kerkvliet, a property specialist who relocated to the UK well over a decade back, enjoys the advantage of being able to directly compare returns from the two countries. In this special podcast he explains the differences in the yield in his area of specialisation, buy-to-let properties: concluding…
Paul O'Sullivan: Why Markus Jooste, Martin Levick are still walking free
Ace forensic investigator Paul O'Sullivan applies his mind to the question that many South Africans keep asking - why are so many well exposed crooks not being put behind bars? In his inimitable style, O'Sullivan gets to the nub of the issue and refuses to pull any punches in unpacking…
Kevin Shames: Geysers, batteries next big opportunity in exploding renewables sector
Former hedge fund manager Kevin Shames moved into the renewable energy field a few years ago, spotting the power of combining Government incentives with massive opportunity arising from the changing energy equation. The resulting creation, Bright Light Solar, is now a leading 12J company which is able to offer South…
Rob Rose: Pushing corporate SA into more transparency, starting with Steinhoff
Disgraced Steinhoff CEO Markus Jooste was never a Rob Rose fan. For years, the investigative journalist was on Jooste's case, going back to a 2011 investigation into Jooste by SA Revenue Services. He wisely questioned where others merely accepted. So when the ponzi scheme blew up, Rose went even deeper…
SA job losses galore; IMF downgrades growth; new bank for SA; palladium
In today's business news headlines: * As the South African economy continues to take strain, companies have warned of job losses. The IT sector and chrome businesses are among the latest to lay off people; * The International Monetary Fund has adjusted its growth forecast for South Africa for 2020…