BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Investors ditch SA assets; Mabuza's two Eskom hats; Rupert emigration chatter grows; Brexit weighs on pound
Foreigners are ditching South African assets at the fastest pace on record as concern mounts that the government will lose its last investment-grade rating. Eskom’s over-worked chairman Jabu Mabuza has just had an extra role added to his job description - acting chief executive of troubled power utility Eskom. Solidarity…
Sasol SA plants threatened; Gvt panel's EWC recommendations; Zille joins IRR; Trade talks resume
South Africa’s oil-from-coal and chemicals multinational Sasol disclosed over the weekend that some of its plants in Secunda and Sasolburg are under threat because of the need to comply with stricter sulphur dioxide emission standards. Trade talks between the US and China begin again in Shanghai this week, but with…
Moody’s hits Rand; Sasol's R18bn writedown; Tesla stalls; new ‘corporate’ PIC chair
In today's business headlines: The Rand weakens as Moody’s says Eskom is “credit negative” Sasol has written down asset values by R18.1bn; Tesla shares plummet by 13% after worse-than-expected losses; Reuel Khoza is the new 'corporate' PIC Chair; The Legal Practice Council is probing the ombudsman while she launched another…
Fasie Malherbe: Chef who turned training idea into business worth billions
Here's the Rational Radio interview with Fasie Malherbe, co-founder of Lobster Ink. He and three partners started the business in 2006 with seed capital of R22,000. After years of bugging Econet, they eventually sold the business to this major multinational for "a handsome multiple of its $26m annual revenues". Malherbe,…
Cynthia Stimpel: Whistleblower who saved SAA R250m - and got hounded out the airline
This is a riveting interview with whistleblower Cynthia Stimpel, a 60-something grandmother who refused to look the other way when corruption was being perpetrated at South African Airways. The former treasurer at SAA was dismissed for intervening in a corrupt deal that would have cost the airline R250m. She shares…
Inflation steady; SA credit risk falls; Matjila defends AYO deal; Richard’s Bay liquefied gas hub; Namibia’s green strategy
In today's business headlines: South Africa’s consumer inflation remained unchanged in June at 4.5%; Investors say the Eskom rescue plan is better than no plan at all; A sharp drop in mining shares led losses on the JSE; Former PIC Chief Dan Matjila says the R4.3bn AYO investment was above…
David Shapiro on profiting from electric car boom, Naspers and fuel cells
South Africa's favourite market commentator David Shapiro takes a closer look at the impact of the electric car revolution and lets us in on what he is thinking about investable opportunities right now - and why he is soon going to sneak away to read the full Naspers annual report…
Icebergs to Cape Town is gaining traction - Nick Sloane
When Nick Sloane, a seasoned salvage operator published his plan of guiding icebergs from Antarctica to Cape Town to solve the city’s acute water problem; many people thought it was a far-fetched idea. It didn’t help that the first story was released in Sunday newspapers close to April fool’s day. …
Tax could rise; IMF cuts growth forecast; Rand pounds sterling; pressure on PP grows; SA investment opportunities
Finance Minister Tito Mboweni has signalled that tax rates may have to climb to bailout Eskom. The IMF slashes its growth forecast for South Africa. The Rand reached its best level to the pound in 11 months. The Public Protector faces a request for her to be struck of the…
Paul O'Sullivan on PP, Transnet investigation that scalped Kenyan Finmin
When you're in form, the results of even routine actions tend to surprise on the upside. And right now, Forensics for Justice's founder Paul O'Sullivan is in hot form. His boxing with embattled Public Protector Busisiwe Mkhwebane is rapidly turning into a "no contest" and this week an investigation into…
Orbis's Dan Brocklebank on Boris, paying Germany to borrow and NetEase
I enjoy interviewing Orbis's UK investment head Dan Brocklebank. He always makes me think differently. Something Dan may well have picked up from his mentor, the late Dr Simon Marais, who worked with him in London before moving to Sydney to establish Allan Gray in Australia. For instance, three years…
Simon Lincoln Reader: Boris "always wanted" to be PM. Now what?
Google the UK's new prime minister and you'll quickly discover his full name is Alexander Boris De Pfeffer Johnson, is 55 years old and was born in New York City. On Personal Finance Live, Biznews.com's London columnist Simon Lincoln Reader suggested that his adopted country's new leader might prove to…
UK prepares for Boris Johnson
Boris Johnson appears poised to become Britain's new Prime Minister. The Wall Street Journal's Jason Douglas has more on what could be ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices
PP hit in the pocket; Eskom cash injection; Denel without pay; PIC lost $333m in oil
In today's business headlines: Public Protector Busisiwe Mkhwebane must pay about R900,000 out of her own pocket for the Reserve Bank’s legal costs. Eskom is getting additional support of R59bn over two years The Publice Investment Corporation lost $333m after a “poor investment” in Erin Energy Corp. Denel staff face…
PP Judicial Review; Boris 1/33; UK/Iran red zone; Naspers SA tax R6.9bn
South African President Cyril Ramaphosa has requested an urgent judicial review into a report by the country’s Public Protector which he termed “fundamentally and irretrievably flawed.” Britain’s decision to seize an Iranian tanker off the coast of Gibraltar earlier this month is snowballing, dragging the country deeper into an escalating…
Moeletsi Mbeki tears into BEE, ANC economic policy
Moeletsi Mbeki is not scared to speak out against the policies of the party that his father Govan Mbeki built with Nelson Mandela and that his brother Thabo represented as President of the country. He has called the ANC and EFF policies of land expropriation without compensation an attack on…
Repo rate cut; rand rallies; Richemont rides online wave; property market optimism; Eskom Bigwig wanted
In today's business headlines: The benchmark repurchase rate has been lowered by 25 basis points to 6.5% per annum. The Rand rallies by 10 cents to the dollar on the back of the news. Richemont online retails sales soar. Estate agents hopeful after rate cut. Platinum producers eye gold miners…
Flash Briefing: Bitcoin breaks $10k; Naspers delays Prosus listing; Luno on hiring spree; Ethiopian coup foiled
Late on Friday, the world’s most popular cryptocurrency Bitcoin traded above $10,000 for the first time in over a year, riding a wave of optimism about the future of digital currencies. Over the weekend, Ethiopia’s reformist government of Prime Minister Abiy Ahmed, foiled a coup attempt that killed several senior…
Flash Briefing: Slight rise in inflation; Eskom has to be saved; Steinhoff seeks extension; Zuma allies get Parly posts; MultiChoice’s African expan..
In today's business headlines: Inflation is up slightly in May rising to 4.5% mainly driven by a 3.3% rise in fuel prices. South Africa simply has to rescue Eskom, even though it can’t afford to. That is the opinion of Bloomberg analysts. Steinhoff International Holdings is seeking another extension to…
Roelf Meyer: Ramaphosa can put South Africa back on the high road
There were many businessmen, politicians and even journalists who disengaged emotionally and some even geographically from South Africa during the Zuma years as it seemed impossible to stop corruption threatening to engulf South Africa. One of them was former National Party cabinet minister and negotiator for South Africa's new Constitution,…