BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Investors dump SA bonds; manufacturing sentiment down; Ramaphosa to meet Buhari; Classic FM business rescue; Hong Kong protestor shot; New Boris Brexi..
There’s still a month to go until Moody’s Investors Service reviews South Africa’s sovereign rating, but foreign investors aren’t taking chances, reports Bloomberg. A gauge measuring sentiment in South Africa’s manufacturing industry fell to the lowest level in more than a decade in September and it will probably get worse…
Cyril gets personal; Mboweni tells ANC to cut red tape; Woolies boss Moir creams it; Rand knocked
President Cyril Ramaphosa has started a weekly email to the nation. Finance Minister Tito Mboweni has once again called for Mboweni government to stop subsidising inefficient state-owned companies. Despite spearheading an ill-fated foray into Australia, Woolworths CEO Ian Moir pocketed R23m in the past year. This brings his total earnings…
Tito: Eskom debt = mining, agric sectors combined; Maimane infected by Steinhoff; Petrol price up 18c
As its board of directors weigh their short-list for a new CEO where Andy Calitz (pictured) is a frontrunner, Eskom received welcome support over the weekend from the head of the African Development Bank. Eskom was also high on the agenda at the ANC’s National Executive Committee meeting where finance…
Bank strike blocked; Job growth flat; Truworths lifeline; PIC eyes fibre company; Settle with Moyo; Eskom’s 3 CEO candidates
In today's business headlines: South African bank workers were blocked from participating in what would have been the industry’s biggest strike in almost a century as labour unions protest against job losses; Formal job growth remained flat while net jobs decreased by 2,000 in the second quarter of the year…
Paul O'Sullivan: Back story to R60m Eskom bribery matter, and more.
It's impossible to over-emphasise the value Paul O'Sullivan has brought to his adopted country. The Irish-born founder of Forensics for Justice strides boldly into areas where most fear to tread, his notches ranging from murderers, gangsters and fraudsters through to a couple of former chiefs of SA Police Services. While…
Guptas BEE fraud; Trump impeachment pushes gold; Sibanye job losses; Moyo pitches up again
Three companies linked to the Gupta-family were awarded multi-million contracts with Eskom even though their B-BBEE certificates were fraudulent. The decision of the Democrats in the US to impeach President Donald Trump has pushed gold to a near three week high. Sibanye Gold plans to cut 5,270 jobs at its…
David Shapiro assesses Capitec's "perfect" £300m UK banking prospect
The fall from grace of Metrobank, the first UK high street banking group in over 150 years, opens a big potential opportunity for Capitec, South Africa's R150bn banking upstart. The Capitec executives have made no secret of their admiration for the operational excellent and management of their UK lookalike. As…
Jared Watson on Bosasa Files, Agrizzi's motives, DA and Basson
In this hard-hitting interview on Rational Radio, chartered accountant Jared Watson, who spent much of the past year compiling the Bosasa Files, explains why he invested so much time on the dynamite project. The nephew of the founder of vilified Bosasa, the late Gavin Watson, shares how the documentation explains…
Bank strikes; Moyo hits Old Mutual - again; Petra big diamond find; SA Eurobonds a hit; More Brexit drama
South African banks are urging clients to use digital channels as the industry prepares for what could be its biggest strike since 1920. Old Mutual’s dispute with Peter Moyo was pushed out after the South African insurer’s fired chief executive officer was granted leave to add evidence to a contempt…
A gutsy Zulu woman leads the way on land restitution - Nonhlanhla Gumede
Nonhlanhla Gumede studied financial management and had a career in banking when she decided to give it all up to help her father, Mahlakaniphana with his struggling sugarcane farming business in Kwazulu-Natal. He was a former farm manager who managed to buy his farm when Tongaat Hullet offered black people opportunities…
Prescribed assets "nothing to fear": Retirement fund expert Clive Eggers
In this BizNews Personal Finance podcast, Clive Eggers says the heated debate about the ANC's plans to harness private retirement fund savings to prop up troubled state entities is a case of much ado about nothing. Eggers chats to Jackie Cameron about prescribed assets and how long-term investors can help…
Africa's tallest skyscraper; Another oil strike?; NYT attacks SA; Dutch attack BAT
Africa’s tallest building, a 234m Sandton skyscaper called The Leonardo which cost R3bn, is set to open next month according to a report by Bloomberg. The risk premium on crude oil will be back in focus today after news that Iran could be preparing another strike similar to the one…
5G hits Jhb, Pta - Technology leapfrog delivering 700MB download speeds
The mass media have have paid little attention, but those with their fingers on the tech pulse hailed a breakthrough this week when the data-only mobile network Rain launched 5G into parts of Johannesburg and Pretoria. This is the first 5G offering on the African continent and among the few…
Search Funds: 5x investment generators that transform small businesses
In this interview, Brendan Mullen of Secha Capital introduces us to the concept of Search Funds, the rapidly growing alternative to Private Equity and Venture Capital. Focused on supporting young entrepreneurs keen to get their teeth into an existing small businesses, they leverage funds and energy to deliver vastly superior…
Brait shake-up; Repo rate unchanged; Richemont recovers; Trillian million trail; 700 react to Tito’s plan
In today's business headlines: South African businessman Christo Wiese is part of a shareholder group that is proposing that the investment company Brait raise R3bn in a share sale and dispose of all assets except gym-chain Virgin Active; The Reserve Bank kept its benchmark interest rate unchanged and may only…
Andrew Canter: Prescribed Assets a blunt tool to shield bad Governments
As we hear in this forthright interview with Andrew Canter, the ANC's proposal to re-introduce Prescribed Asset Requirements is only being advanced because the Government is not prepared to apply the correct economic medicine. The chief investment office of FutureGrowth explains that this is a blunt tool which taxes pensioners…
Valence Watson: Many unanswered questions surround brother Gavin's death
In this interview on Rational Radio, Valence Watson shares some unanswered questions raised through the family's investigation into the death of his eldest brother Gavin, founder of the controversial Bosasa. He points to an unexplained half hour between when Gavin left his Krugersdorp apartment and when his vehicle was wrapped…
SA slips to third; Inflation rises; Hands off our savings; Medical scheme suspensions; Richemont, Sasol
In today's business headlines: Consumer inflation has risen by 4.3% in August from the 4% recorded in July, which is the fastest pace of acceleration in a year; The 2.4 trillion rand savings industry has a request for the ruling party: stop threatening to dictate where funds must invest and…
EB-5 Visa changes: Only two months before cost of US entry rockets
Bernie Wolfsdorf, the US's top immigration lawyer, is being run off his feet right now. The Durban-born managing partner of California-based Wolfsdorf Rosenthal, who is currently in SA, says the reason behind his sleep deprivation is the rush by clients to take advantage of the EB-5 visa ahead of radical…
David Shapiro explains the shock R35bn dive in Rupert company's valuation
South Africa's favourite market commentator gave us a glimpse of the insider's world in this week's episode of Rational Radio with Biznews.com's Alec Hogg. Most investors were bemused by today's R35bn slump in the market value of global luxury goods group Richemont, one of the major counters on the Johannesburg…