BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Flash Briefing: Trillian's R600m state capture hit; Ramaphosa to rescue Eskom; Old Mutual fires Moyo; PIC Naspers jitters
In today's Biznews Flash Briefing: The Old Mutual share price jumped on news that its board has decided to fire its CEO Peter Moyo. The Naspers share price moved up about 2% on Tuesday. The Public Investment Corporation is encouraging its fund managers at the Government Employees Pension Fund to reduce…
More SARS red tape for overseas Internet purchases
President Cyril Ramaphosa is eager to create an investor friendly climate in the country but it seems that customs clearance and exchange rules imposed by the South African Revenue Service is having the opposite effect. Recently a health science start-up company told me how their overseas investor eventually decided to…
Flash Briefing: SABC faces blackout; SAA pilots strike-ready; JSE probes Deloitte, Sygnia; Has Musk dumped Twitter?
In today's Biznews Flash Briefing: The South African Broadcasting Corporation is in serious trouble and faces a blackout. The financial position of the SABC has been worsening as it awaits a decision on its application for a R3.2bn financial support from the government. At SAA, another state-owned entity that has…
Flash Briefing: Bumper day for mining stocks, Naspers; Platinum producers face showdown; SARB rate cut expected; oil price surge
In today's business headlines: South African mining stocks were driven to an almost 11 year high; However mining production decreases in April; South African platinum producers are preparing for significant wage demands as workers eye windfall earnings; The Governor of the Reserve Bank Lesetja Kganyago says there may be room…
Flash Briefing: PP snotklap for Cyril, Rand; retail sales soar; FX rigging case setback; plant Lego hits brick wall
In today's business headlines: The Public Protector Busisiwe Mkhwebane has set a 21 June deadline to President Cyril Ramaphosa to answer to allegations that he violated the constitution; The Rand falls to the lowest level against the dollar since beginning of the year; Retail trade sales increased by 2.4% in…
Flash Briefing: SA manufacturing growth spurt; Cape Town property plunge; Naspers' big fintech deal; Deloitte, KPMG face national ban
In today's Biznews Flash Briefing: South Africa's manufacturing sector has perked up, with more cars, electronics, metal products and furniture produced than expected. Cape Town property prices have been falling. The latest data from FNB shows that house prices have been plunging in the most expensive suburbs and at best…
Treasurer who stood up for toxic Transnet feared for her life
Mathane Makgatho, the former Transnet Treasurer told the Zondo Commission that she eventually resigned in 2014 from the state-owned enterprise because she felt her life was at risk and with four young children, she could not play Superwoman. She told the commission that several other officials at the Transnet followed…
Flash Briefing: Tongaat suspended on JSE, LSE - Deloitte in crosshairs; gold excites; Trump ignites
In today's Biznews Flash Briefing: Trading in Tongaat Hulett's securities on the Johannesburg Stock Exchange and London Stock Exchange has been been suspended. Questions are again being asked about the integrity of accountants at Deloitte, which were auditors to Tongaat and Steinhoff - another South African multinational involved in financial…
Flash Briefing: Gold still gaining; Big Tech backlash; Eskom needs more cash; Sasol, Naspers
The gold price is on its longest winning streak in almost a year and a half, rising for the eighth consecutive trading session on Friday. The global backlash against Big Tech intensified over the weekend when G20 Finance Ministers said they have agreed to new rules to tax companies like…
Flash Briefing: SA rates likely to drop - Moody's; Trade wars power up gold stocks; African swine fever to hit SA consumers
Ratings agency Moody’s Investors Service has said it expects South Africa's interest rates to fall. It’s not just South Africa that is struggling to turbo-charge its economy. Amid concerns that a global recession looms, the European Central Bank has kept low-rates unchanged, reports Bloomberg. The FTSE/ JSE Gold Mining Index has…
Exasperated Mboweni’s rebuke to reckless Reserve Bank underminers
There are few people that enjoy their tweets as much as Tito Mboweni, well maybe President Donald Trump. But Trump’s social post can cause jitters in markets. This week’s Mboweni’s posts were meant to calm a storm. When the ANC Lekgotla concluded that the Reserve Bank should consider “quantitative easing”,…
Koons' silver bunny has new owner - at "living artist" record of $91m
A three foot tall stainless steel bunny called "Rabbit", one of four cast in 1986 by Jeff Koons, last month became the highest price ever received by a living artist. The other three replicas are housed in art museums in Los Angeles, Chicago and Qatar. The piece, auctioned by Christies,…
Flash Briefing: Blame Eskom - SA just got poorer; Ramaphosa pays tribute to journalists, media freedom; investors queue for Khula Sizwe
In today's headlines: South Africans are reeling from the news that the economy shrunk in the first quarter of this year. Analysts have blamed Eskom power cuts for hammering manufacturing, mining and agricultural output. Eskom has more than $30bn in debt and is believed to be the biggest threat to…
Vox CEO Jacques du Toit opens up about his journey with RMB
JOHANNESBURG — Vox Telecom has become a major telecommunications player in South Africa's market, offering highly competitive fixed line internet and voice services. Over the years, the company has dramatically expanded its offerings and footprint thanks to acquisitions that include its deal with fibre infrastructure provider FrogFoot. Throughout this journey,…
Flash Briefing: SA economy stumbles; Rand falls; Mantashe on coal vs green; another Deloitte scandal; US carrot to UK
In today's business headlines: South Africa's economy shrinks by 3.2% in the first quarter; The rand falls by 2% but claws back some losses; Mantashe refuses to pick sides on green vs coal energy; Deloitte replaces auditors and a partner after Tongaat-Hulett scandal and; Britain is promised a phenomenal…
Flash Briefing: Robust action needed - IMF on SA; Vehicle sales, PMI disappoint; Rand's rosy outlook; PP YouTube's Pravin
In today's business headlines: The IMF says South Africa needs to take “robust actions” to reduce its fiscal deficit and reverse the increase in public debt; The Absa purchasing managers’ index (PMI) has dropped again in May after a slight rise in April; South African vehicle sales fall again; The…
Flash Briefing: PSA wants out of Eskom bonds; $4.5m for lunch with Buffett; SAA CEO quits; Boxing's mega-brand KO'd
The chief executive of South African Airways, Vuyani Jarana has quit, citing a critical dearth of funding and the government’s lack of support for the airline’s turnaround plan. The 240,000-strong Public Servants Association wants to get its members money out of Eskom bonds. An anonymous Warren Buffett fan will pay…
Flash Briefing: Markets 'confused' after cabinet; Omnia shares tumble; Ayo, PIC legal battle; Auntie Pat
In today's business headlines: Investors react favourably to Ramaphosa's cabinet but the US-China trade war dampens sentiment; Shares tumble in Chemical and fertiliser company Omnia Holdings after it announced a rights offer of R2bn to cut debt; Ayo Technology Solutions and the PIC are suing each other; Africa is working…
Ramaphosa foot on the pedal to clean up corruption - Melanie Verwoerd
The relief among investors was clear to see as they assessed President Cyril Ramaphosa’s South African cabinet line-up. The slimmed down executive were given the thumbs-up and the retention of the crucial Finance Ministry post to Tito Mboweni, while allowing Pravin Gordhan as Public Enterprises Minister to continue the clean-up…
Starting a company in the UK: Here's what you need to know
With the Brexit drama engulfing the UK and resulting in the scalp of yet another Prime Minister, it's tempting to overlook that country as a place to start a new business. However, the reality is that the UK's highly advanced first world market coupled with the fact that it remains…