Charlie Munger and Warren Buffett. The late Steve Jobs and his wife Laurene. In this episode of Biznews Confidential, Alec Hogg explains why successful partnerships are the secret sauce of business - and life.

After his opening address at the FT's sixth annual Africa Summit in London this morning, SA president Cyril Ramaphosa dropped a bombshell. During a short interview with the FT's editor Lionel Barber, he was asked whether reports of R500bn lost to State Capture were accurate. After castigating the supposedly reputable global companies that facilitated the plunder, Ramaphosa disclosed that the true number was doubt that - something approaching R1trn or roughly 20% of the national GDP. Here's the full question and answer session.

South African Dave King has been hit with a four year ban by the UK’s Takeover Panel. The two most powerful South Africans, president Cyril Ramaphosa and business tycoon Johann Rupert, will be in the global spotlight today at the Financial Times’s 6th annual Africa Summit in London. The Wall Street Journal reports that China emerged with wins from the past week’s trade talks with the US. Former South African president Jacob Zuma will face 16 criminal charges involving racketeering and money laundering when his trial starts tomorrow.

South Africans have long been wondering why the Guptas were allowed to continue living lavishly and flaunting expensive weddings overseas with the taxpayers money that they extracted from their lucrative contracts with corrupt officials from the Zuma era. From their Saxonwold lair they decamped to a R445m mansion in Dubai to avoid arrest and prosecution. And now finally justice is starting to catch up with them with the decision of the US to place sanctions on the Guptas, described as “members of a significant corruption network in South Africa that had leveraged their political connections to engage in widespread corruption and bribery, capture government contracts and misappropriate state assets.” The South African Justice Department said the US was one of the seven countries they had approached for mutual legal assistance to have the Guptas extradited to face state capture allegations; the other are the UAE, China, Hong Kong, Canada and Switzerland. The former ambassador of the UK to South Africa, Lord Robin Renwick has long been a campaigner to bring the Guptas to justice and has written a book, “How to steal a country” which details the Gupta links to the Zuma kleptocracy. Speaking from London, he said explained how the world would suddenly become a lot smaller place for the Guptas, now that the US has zoomed in on them and Salim Essa. - Linda van Tilburg

In today's business headlines: The US Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Ajay, Atul and Rajesh Gupta as well as Salim Essa for their involvement in corruption in South Africa. President Cyril Ramaphosa has poured cold water on proposals by Finance Minister Tito Mboweni that Eskom would sell some of its power plants to help settle its debt.  South African factory output has shrunk for a third straight month in August.  Manufacturing production declined by 1.8% from a year earlier compared with a revised 0.7% drop in July. Cel C has put core parts of its business up for sale as it struggles with R9bn of debt and deepening losses; and British Prime Minister Boris Johnson and his Irish counterpart, Leo Varadkar say they see “a pathway to a Brexit deal”.

In today's business headlines: South African business confidence increased from the lowest level in more than three decades. A sentiment index compiled by the South African Chamber of Commerce and Industry climbed to 92.4 in September after falling to 89.1. The Rand strengthened, while more international investors are turning to gold amid global uncertainty. The Medupi and Kusile power stations are sinking Eskom and South Africa with an anticipated price tag ballooning to R451bn. The offices of the owner of the Independent Media group, Iqbal Survé were raided by the Financial Sector Conduct Authority (FSCA) in Cape Town yesterday afternoon. Capitec’s plans to purchase Mercantile Business Bank have been approved with the two banks running independently for now. The talks between Europe and British Prime Minister Boris Johnson on a new Brexit deal ended in a stalemate. Johnson accused the bloc of adopting a tougher position and the European Council President Donald Tusk responded, accusing Johnson of playing a blame game.  

In today's headlines: South Africa's economy is showing signs of improvement, says the World Economic Forum. Releasing its global competitiveness report, it says South Africa’s competitiveness has regained momentum after the recent political landscape shift and climbs 7 places to 60th. Investigating sate capture has cost taxpayers a whopping R350m so far, according to the SABC. The Blue Bulls Rugby Union has received a joint offer from Remgro, the investment company of Johann Rupert, and African Rainbow Capital, which is backed by Patrice Motsepe. United Nations Secretary-General Antonio Guterres warned that the global body is facing its worst cash crisis in about a decade and runs the risk of defaulting on payments to staff and vendors. The UK stepped up preparations for a no-deal Brexit in three weeks’ time as negotiations with the European Union headed toward a breakdown.

I was surprised to learn during research for this interview that Sandton-based RMB has been financing aircraft for more than two decades. So it makes sense that the bank would take the next step as it has done through the involvement with two of Airbus's replacement for the iconic A380 planes. In this insightful interview with Greg McKenzie, head of RMB's Aviation division, we get the back story to the bank's breakthrough into the global aviation's big league through its co-funding for Virgin Atlantic of two A350-1000s, whose ticket price comes in at almost $200m each. - Alec Hogg

The African Continental Free Trade Area, will be a “game changer” for South Africa, Ramaphosa said in his weekly letter to citizens Monday. Bloomberg reports that foreigners offloaded South African stocks at the fastest pace in two years last week, as worries about the state of the global economy helped spur an exit from riskier assets. Clicks surged the most in 11 years in Johannesburg trading after the retailer said its full-year earnings would rise as much as 18%, despite the tough conditions confronting South African consumers. It could be a quiet day on the JSE on Tuesday, when the Springboks take on the Canadians in Kobe, just four days after beating Italy 49-3. Sizwe Nxedlana has been appointed CEO of Ashburton Investments, the asset management arm of the FirstRand group, with immediate effect. President Donald Trump won a last-minute reprieve from a court order that would have forced his accountants to immediately hand over his tax filings and other financial records.

Africa’s largest privately owned asset manager Allan Gray, whose clients own 10% of Old Mutual, is backing the life assurer’s actions against its former CEO Peter Moyo who last week sued the company for R250m.  The US’s previously steaming market for new listings has turned ice cold after investors dropped money on loss-making start-ups like WeWork and Uber. Helen Zille, the 68 year old former Premier of South Africa’s Western Cape province, has come out of her self-imposed retirement from politics.  On a lighter note, Johannesburg watering hole Sin+Tax, sited at the corner of Jan Smuts Avenue and Bolton Road in Rosebank, has been named among the top 100 bars in the world.

South Africa is pushing coal producers to cut prices to help save Eskom, the debt-stricken power utility that threatens to unravel the country’s finances, says Bloomberg. “At these prices of electricity, this economy is going to collapse,” Mineral and Energy Resources Minister Gwede Mantashe said Thursday at a mining conference in Johannesburg. “You have got to reduce the prices - what we are saying is coal producers must contribute in ensuring that is actually addressed.” Metropolitan Collective Investments has been fined a whopping R100m by the Financial Conduct Authority in connection with losses incurred by one of its unit trust fund.s The FCA essentially accused the fund managers of playing fast and loose with unit trust holders funds by using derivatives structures. SA, Nigeria mend fences, aim to do more business together, following xenophobic attacks in South Africa and anti-xenophobic protests in Nigeria. Boris Johnson is winning the battle for Conservative support after outlining his new Brexit proposals in Parliament, says Reuters. The prime minister said he has been encouraged by constructive conversations he has had with European Union leaders -- but a deal is still some way away.

In today's business headlines:  The ANC has approved a range of proposals to revive economic growth, but stopped short of endorsing Finance Minister Tito Mboweni’s plan to sell state assets. The wage dispute between trade union AMCU and South Africa’s three biggest platinum miners will be referred to the country’s Commission for Conciliation, Mediation and Arbitration. Anglo American CEO Mark Cutifani has urged the mining sector at the Joburg Indaba to work more closely with the government. He said  believed that the government was on course towards much-needed stability. AMCU is taking private miner, Samancor Chrome to court alleging that Croatian billionaire Danko Končar and his “associates spirited billions of rands abroad in a transfer pricing scheme” and that they sold assets while secretly pocketing most of the proceeds. Old Mutual said CEO Peter Moyo wants R250 million rand in damages after he was fired. and British Prime Minister Boris Johnson has revealed his last offer to the EU for a Brexit deal.

Rand Merchant Bank (RMB) has helped facilitate several interesting deals in South Africa's corporate landscape over the years. One of the most recent roles it has played has been that of sole financial advisor, lender and structuring bank to a consortium of investors led by Israel’s Central Bottling Company Group (CBC) when it came to their deal to acquire 100% of Clover. In this interview, Watson Hamunakwadi, Corporate Finance Transactor at RMB, explains RMB's role in this deal. - Gareth van Zyl

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. South African President Cyril Ramaphosa will host Nigerian President Muhammadu Buhari for talks, weeks after xenophobic violence strained economic ties between the two nations. African Media Entertainment has told shareholders that the company has been informed by the board of directors of Classic FM that a resolution was adopted approving the voluntary commencement of business rescue proceedings in terms of the Companies Act, 2008. Protesters and police battled across Hong Kong in some of the most serious clashes since widespread unrest began in June, with a demonstrator shot by police for the first time. British Prime Minister Boris Johnson will present a new plan for a Brexit deal to the European Union within days, but there are already signs it may fail.

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 over the past five years to R191m. The world’s biggest predatory fish, the Great White, hasn't been seen this year in False Bay, according to scientists and cage-diving operators. Billionaire entrepreneur Elon Musk has unveiled the latest iteration of his space company’s newly assembled Starship, outlining a speedy development timeline for the centerpiece vehicle of SpaceX’s quest to launch humans to the moon and Mars. South Africa’s rand weakened on Monday, tracking the euro and other emerging market currencies, as ongoing jitters about the trade dispute between China and the US and faltering euro zone growth dampened demand.

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 minister Tito Mboweni’s explained its debt is the same size as SA's entire min ing and agricultural sectors combined. On the other side of the political house, Mmusi Maimane, leader of the Democratic Alliance, has become infected with Steinhoff virus after accepting a car from the company’s disgraced former CEO Markus Jooste. The attacks earlier this month which knocked out half of Saudi Arabia’s production facilities – and pushed the oil price higher – have been blamed for what will be an 18c a litre rise in South Africa’s petrol price. Diesel will rise by 25c a litre.

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 according to Statistics South Africa; Truworths has managed to restructure its UK Debt after Standard Bank provided a £32.5bn facility to refinance its footwear retailing business, Office; The Public Investment Corporation is poised to take a stake in Liquid Telecom if Africa’s biggest fibre company goes ahead with a planned initial public offering; An Old Mutual shareholder has urged the South African insurer to end its dispute with Chief Executive Officer Peter Moyo, even if it means settling out of court; and Three candidates have been shortlisted for the job of CEO at Eskom.

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 the rest of us listen to the fruits of his efforts with admiration, what we don't see is the grind of research and fact checking that precedes the arrests. Like this morning where O'Sullivan was forced to attend a court in Germiston to respond to a crooked businessman trying to get a gagging order. After an hour of waiting, the lawyers of one Jose Trinidade who had brought request in the first instance then requested a postponement - probably because their client had no stomach to face O'Sullivan's questioning. On Rational Radio this week, the forensic investigator gave us the back story - and more.

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 troubled Marikana platinum mines as deadlocked wage negotiations brought a strike one step nearer. South Africa saw larger foreign direct investment inflows in the second quarter than the first quarter but the country has entered the 10th month of a weakening cycle in September. Peter Moyo has been prevented for a third time from returning to work at Old Mutual and wants to declare the company’s non-executive directors delinquent.

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 a result, they stayed away from even considering entering that offshore market. But with Metrobank's share price having collapsed from £40 to under £2, rumours of a takeover has been surfacing. SA's favourite market commentator David Shapiro offers his perspectives on whether Metrobank would be a suitable target for the Stellenbosch team. - Alec Hogg

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 the motives of Bosasa's former COO Angelo Agrizzi, and unpacks the key relationships of the Zondo Commission's star witness with senior members of the Democratic Alliance and News24's editor in chief Adriaan Basson. - Alec Hogg

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 of court charge he brought against the company, says Bloomberg. Petra Diamonds has found a 20.08 carat blue stone at its flagship mine in South Africa, offering some relief to a miner struggling with weak demand and a mountain of debt, says Bloomberg. South Africa raised $5bn in its biggest Eurobond sale to date, offering returns that compensated investors for increasing fiscal problems, says Bloomberg. South Africa is to sell electricity to Zambia, which has a massive shortfall. More Brexit drama, after the UK's Supreme Court found that Prime Minister Boris Johnson unlawfully suspended Parliament to frustrate its ability to “carry out its constitutional functions”.

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 to purchase farms under the Erlard Programme. Nonhlanhla joined her father in 2011 while the farm was still struggling and worked her way up and undertook further training to learn the business of farming. It inspired her to buy her own farm, which is called UThandimvelo Farm. Gumede who has already worked six hours by ten in the morning appears to take it all in her stride defying the mould of patriarchy in KZN and says black farmers need help and training if they are to manage land through restitution. - Linda van Tilburg

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 the government with the transfer of land from white hands to previously disadvantaged hands in an orderly fashion - and he cautions that investing offshore could be a very bad idea.

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 which took out half of Saudi Arabia’s production a week ago. South Africa’s global image took a knock over the weekend when the influential New York Times quoted returned Nigerians saying they were driven out of the country by longstanding South African hatred of foreigners. The Dutch authorities have laid a claim of £902m in unpaid taxes against JSE-listed heavyweight British American Tobacco according to London’s Guardian newspaper.