BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
IMF not needed; Lefties shackle Cyril; Goldfields, Implats back in black; Discovery recovery; Petrol price hike
In today's business headlines: The IMF says South Africa does not need a loan, but it needs structural reforms to boost growth; Bloomberg says President Cyril Ramaphosa's left wing allies is hampering economic reforms; Gold Fields has returned to a first-half profit of $70.5m in June but its headline earnings…
Journalist Malcom Rees: How Johann van Loggerenberg got falsely labelled a police spy
South Africans who lived through the apartheid era are keenly aware that there are few accusations worse than being called a policy spy. Back in the 1980s it was a moniker that could easily cost your life. The best known case is probably the murder of Stompie Moeketsi, accused of…
SA bond dump; Stocks bullied, gold glitters; Credit Suisse sees SA light; Former Eskom execs want top job; Facebook recorded you
In today’s business headlines: Investors have been dumping South African bonds at a rate of almost R2bn a day in August. South African stocks approached a six months low yesterday but gold shares are still shining. The JSE all-share index dropped by 2.11% while the benchmark Top-40 index was 2.37%…
David Shapiro on Discovery's 'blackhole', SA Inc sell off and the missing prosecution
This week on Rational Radio David Shapiro spends a lot of his time searching for answers to Discovery's massive sell off which has seen the stock fall to around R100 a share. There's talk of an analyst and a gaping R15bn hole, while National Health Insurance also finds itself amongst…
Wilhelm Hertzog: Steinhoff shares a "coin toss" - bonds, prefs much better bet
On this week's Rational Radio show, Wilhelm Hertzog gave us his impressions of the long awaited Steinhoff Investor Presentation which he attended yesterday. In this insightful contribution, the co-founder of money manager Rozendal Partners also explains why those paying anything for Steinhoff's JSE-listed shares - even at 124c - are…
Steinhoff execs answer investors: Q&A at the Investor Presentation
After an hour and a half of presentations by Steinhoff executives and directors, investors got the opportunity to pose their questions. The spontaneous nature of this part ensures that it is often the most interesting part of any presentation, especially for smaller Steinhoff shareholders hoping to pick up some guidance…
CEO Louis du Preez: Where we are - and the road ahead for Steinhoff
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff CFO Philip Dieperink: On legal claims, Jooste's financial shenanigans
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
UCT Accounting prof Alex Watson: Unravelling Steinhoff's Gordian Knot
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff CEO Louis du Preez answers: When is Markus Jooste going to jail?
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Chair Heather Sonn - Investor presentation conceived over 20 months
Embattled Steinhoff lifted its veil yesterday for the first time since the once mighty group brought to its knees after the disclosures of massive fraud and corruption conducted over more than a decade. It wasn't pretty. Punters who had pushed the share price to 148c ahead of the presentation were…
Steinhoff sell-off; Absa struggles; Amplats eco-battery plan; Argentina EM contagion fears
Steinhoff bosses say the only way the company can survive is if it sells assets and transforms into a holding company. It has a mountain of debt that is a worry. CEO Louis du Preez delivered a stark assessment of Steinhoff's options at the company's first public investor presentation since…
Personal finance: Tackling scary truths about your SA savings, investments - money expert
In this BizNews Personal Finance podcast, Johannesburg money expert Dawn Ridler chats to Jackie Cameron about how to start getting your personal finances in order. Ridler sets out some of the obstacles to growing wealth, including the huge returns you need to make to generate a decent return when investment…
NHI hammers Discovery, Aspen; Junk priced in; Rand falls; investment banks chop staff; Naspers India play
Moody hasn’t said it, but investors already think it: South Africa’s credit is junk. That’s according to Bloomberg, which says the market is pricing in a downgrade. The risk premium has climbed since mid-July, when the government announced it would increase borrowing to support Eskom. Monday was a hairy day…
Ramaphosa's contributors named; Rand keeps falling; Epstein commits suicide; MTN attracts attention
The storm around Cyril Ramaphosa’s presidential campaign funding ratcheted up a level as a weekend newspaper disclosed names of contributors, mostly well-known business personalities. The South African Rand extended its longest losing streak in two years on Friday as the currency dropped to R15.25 against the US Dollar - 50c…
Paul O Sullivan draws Hogan Lovells blood: "I'm a hyena onto your kudu"
The SA office of global law firm Hogan Lovells is fragmenting after a sustained assault on them by forensic investigator Paul O'Sullivan and British peer Peter Hain. The firm, accused by the activist duo of facilitating State Capture, is to shrink to a quarter of its former size, with 71…
Cemair founder Miles vd Molen: Boxing on, despite State-sponsored abuse
Former pilot turned airline founder Miles van der Molen personifies the courage and persistence of a blue blooded entrepreneur. He's needed every ounce of it to keep the 23-aircraft Cemair afloat after predatory pricing by the State's heavily subsidised SA Express and what the court described as an "irrational" grounding…
David Shapiro on dumping Aspen, turbulent markets and Stellenbosch Mafia
In the country's latest bestseller, author Pieter du Toit tracks the first public mention of "The Stellenbosch Mafia" back to a decade and a half back when David Shapiro used the reference in one of our interviews. But as SA's favourite market commentator used it in a benign, almost admiring…
The back story to SA's new #1 bestseller with its author Pieter du Toit
Author of The Stellenbosch Mafia, Pieter du Toit, is almost made for the job. A graduate of the town's famous Paul Roos Gymnasum and Stellenbosch University, having breathed its air for so many years, Du Toit has insights that outsiders can never acquire. He applied this advantage together with his…
Molefe must pay; Eskom wants debt transfer; Business confidence drops; Glencore stutters, gold glitters
In today's business headlines: Former Eskom CEO Brian Molefe has lost his Constitutional Court case over his R30 million pension. Eskom wants the majority of its R440bn of debt transferred to the South African government. Moody’s says Eskom urgently needs to action a turnaround plan, or it will collapse under…