BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Flash Briefing: Massmart earnings nose-dive; Steinhoff investors queue to sue; Brait, Mabuza
In today's news headlines: Massmart announced on Thursday that it had hired an American heavy hitter, Mitch Slape, as CEO. Brait’s share price hit a 7-year-low on news that the net value of its assets has fallen sharply. There was another development in President Cyril Ramaphosa’s strategy to root out…
Is there a secret formula to happiness?
When it comes to world happiness, it probably comes as no surprise to South Africans, that we are low on the list. The latest United Nations and Gallup poll put us 106th behind other African countries like Nigeria, Algeria, Cameroon, Burundi and Benin. You would think that all that lovely…
Flash Briefing: Mabuza fuels rand; Prasa's anti-corruption steam; Tuna Bond minister heads home; Sasol, Eskom
In today's business headlines: The Rand gained on news that Deputy-President David Mabuza will not be sworn in as MP. Corruption busting at Prasa gathers momentum with suspensions. South Africa has decided to extradite Mozambican Manuel Chang wanted for the tuna bond scandal to his home country not the US…
Flash Briefing: Tesla Code Red; Tuna Bond scam nabs first fish; Jamie Oliver's UK insolvency; Rand
In today's business headlines: Morgan Stanley sees Tesla at $10 as market for electric cars goes soft. Huawei goes to EU warning it could happen to any international company. Ex-Credit Suisse banker pleads guilty in Tuna Bond scandal. Jamie Oliver restaurants in the UK declared insolvent. JSE is flat with…
Tesla is facing Code Red
The news that Tesla shares have dipped to below $200, which is the lowest level since 2016 this week is not the end of bad news for Elon Musk's electric car company. Morgan Stanley has slashed its worse-case scenario for the share price to just $10 over concern that the…
Huawei ban could derail US/China trade negotiations
173 companies including footwear giants, Nike and Adidas have signed an open letter to US President Donald Trump in which they say that tariffs on shoes made in China will be a catastrophic for the American economy. They posted it on the Footwear Distribution and Retailers of America's website. This…
Flash Briefing: Ramaphosa cabinet cull begins; Pioneer plummets; GOT set-back knocks Naspers
President Cyril Ramaphosa has moved quickly to show he is serious about cleaning up his cabinet following May 8 elections. On the JSE, Pioneer Foods was the big loser of the day. Its share price plunged about 12% after the release of its half-year results. Also dragging down the JSE…
DA leader Mmusi Maimane could face leadership challenge after election performance
PRETORIA — Although the Democratic Alliance has managed to hang on to the Western Cape, their support has dipped since the 2014 elections. This raises the question whether the leadership of Mmusi Maimane could be challenged. Political analyst Theo Venter from the North West University spoke to Biznews about the…
Division in ANC not over as Magashule dismisses Ramaphosa contribution to ANC win
PRETORIA - There is a deep division in the ANC between the Cyril Ramaphosa faction and the Zuptoids now led by ANC secretary-general Ace Magashule. And while the IEC was still tallying how big a win the ruling party managed to attract, ANC secretary-general Magashule arrived at the IEC nerve…
Ramaphosa has a sufficient mandate to tackle corruption
PRETORIA — President Cyril Ramaphosa may not have received the 60% support of national votes in the 2019 elections that he wanted, but he has a big enough mandate for decisive leadership. A political analyst from the Stellenbosch University, Dr Collette Schulz-Herszenberg told Biznews that the election result is the…
DA-support drops but leader Mmusi Maimane says party maintained centre ground
PRETORIA — The Democratic Alliance was hoping to increase its support from the 22% they managed in 2014, but all indications are that they are not going to be able to replicate their previous national performance. The party's leader Mmusi Maimane said at the IEC centre that he is proud…
Patricia de Lille is GOOD enough for Parliament
PRETORIA — She may have only one seat, but the leader of the GOOD party, Patricia de Lille, who broke away from the Democratic Alliance after a controversial stint as the mayor of Cape Town, is likely to be a vocal voice in Parliament. Her party also has at least…
Business-friendly ACDP doubled their MPs
PRETORIA — Many of the smaller parties in the election did not manage to gain a single seat. One of the parties that have been more successful is the ACDP which have doubled their number of MPs. The party's leader, Kenneth Meshoe says they will oppose land distribution without compensation,…
Expect more fireworks from the EFF as they increase share in Parliament
PRETORIA — The Economic Freedom Fighters are increasing their share of the seats in Parliament from just over 6% to around 10%. Firebrand leader Julius Malema, a former ANC-member in a distinctive red overall, has increased the temperature in Parliament considerably with debates becoming more contested and has often been…
IFP says electorate failed to right the wrongs of corruption
PRETORIA — The Inkatha Freedom party has increased its share of the vote in the elections and is running neck and neck with the Freedom Front Plus. IFP spokesperson Mkhuleko Hlengwa says the party was negatively effected by floods and unrest in the province. - Linda van Tilburg
DA appears to have lost support due to split-vote
PRETORIA — The Democratic Alliance is on track to maintain control of the Western Province and could be part of a coalition in Gauteng, but have lost votes to Patricia de Lille's Good Party and the Freedom Front Plus on a national level. The Chairperson of the DA Federal Council,…
Foreign Relations Minister Lindiwe Sisulu tells investors South Africa is open for business
PRETORIA — Foreign Relations Minister Lindiwe Sisulu says the election has proven that South Africa is a stable democracy and adds the Government is opening its arms and inviting investors to come and invest in the country. Sisulu however ducked a question on whether there are internal forces in the…
Australia gives South Africa's 70% voter turnout a thumbs-up
PRETORIA — The Australian High Commissioner Adam McCarthy, who is one of the international observers at the election headquarters says he is impressed with voter turnout especially when it is compared with other countries. In Australia voting is compulsory. - Linda van Tilburg
American civil rights leader Jesse Jackson eyeballs SA election
PRETORIA - The American civil rights leader, Jesse Jackson has always taken a keen interest in South Africa and was a staunch opponent of the apartheid regime in South Africa. Jackson sent representatives to the #Elections2019 to observe the elections. One of them is James Gomes from the Rainbow/Push Coalition…
Jessie Duarte wants to answer state capture allegations at Zondo Commission
PRETORIA — The Deputy Secretary-General of the ANC Jessie Duarte says she has applied to the Zondo Commission to testify about allegations made about her on state capture. Biznews gave her the right to reply to the various allegations against her and her fractious relationship with the media. She also…