Flash Briefing: SAA disaster; MEC Msibi to step...
News headlines:
*Less than three weeks after taking to the skies again, South African Airways is already facing a backlash from staff, cancelled flights, and support problems.
*President Cyril Ramaphosa has called for Mandla Msibi to immediately step aside, after the MEC of agriculture in Mpumalanga appeared in the Nelspruit magistrate’s court on Monday on charges of murder as a result of a deadly ANC branch meeting in August.
*National Treasury has prohibited the use of imported cement in all government-funded projects, giving a significant boost to local producers.
2 min
1277
'There's no reason why they can't scrap e-tolls...
As the municipal elections in South Africa draw closer, e-tolls are back on the agenda. OUTA CEO and founder Wayne Duvenage has been the chief protagonist against e-tolls since before their inception. He joins BizNews founder Alec Hogg to discuss the issue of scrapping e-tolls for good. According to Duvenage, despite growing evidence of failure as well as OUTA's attempts to suggest alternatives and solutions, the government still seems hesitant to make a decision.
9 min
1278
RIP Allan Greenblo - A journalistic giant who n...
One of the doyens of South African journalism, Allan Greenblo, passed away at 3:45am this morning after falling critically ill on Sunday. Greenblo co-founded Finance Week in 1978, edited it from 1982 to 1995 and then become managing director of BDFM, then a joint venture between the Financial Times of London and the local media group now known as Arena Holdings. In 2005 Greenblo started Today's Trustee, a quarterly magazine tightly niched to serve the principal officers and trustees of South African retirement funds. Stuart Lowman chats to Alec Hogg, who started working with Allan at Finance Week in the early 1980s.
9 min
1279
BizNews Power Hour - 11 Oct. Market insights wi...
In this episode of the BizNews Power Hour, Alec Hogg is joined by David Shapiro with investment insights; OUTA CEO Wayne Duvenage on Gauteng e-toll discrepancies; TreasuryONE's Andre Cilliers unpacks local and international currency movements; we pay tribute to Allen Greenblo and the BizNews Team.
60 min
1280
Only way to avoid stagflation is to increase ou...
In the latest episode of the Currency Focus podcast, Bronwyn Nielsen and currency expert Andre Cilliers of TreasuryONE discuss the local unit’s movements. Cilliers says that the central bank's continuous reluctance to increase interest rates in the name of growth is misinformed. He also mentions possible risks to the rand, including any negative news out of China (especially to do with Evergrande or the energy crisis) or an announcement by the Federal Reserve on tapering and interest rate movements.
11 min
1281
Flash Briefing: SA business sentiment at 1-year...
News headlines:
*South African business sentiment dropped to a one-year low in September as economic activity continued to be hamstrung by restrictions to curb the coronavirus pandemic and unease persisted following deadly riots in July.
*Both the Hawks and SARS are circling in on companies that scored millions from dodgy PPE contracts in South Africa, with at least 33 companies connected to ‘politically exposed individuals’ in the crosshairs.
*South Africa’s politicians are into full campaign mode, with parties spreading out over the weekend to shoot their shot with the electorate.
2 min
1282
There's very little Leila Fourie can do - David...
Sasfin Securities David Shapiro leads the week's investment insights talking on a number of topical market related issues. Shapiro states that predicting the volatility in the rand dollar price is notoriously difficult which he does not factor into his investment thesis. He also talks about the different risks being faced by markets with specific focus on inflation and the uncertainty its causing investors. The sharp reversal in many of the commodity prices, specifically iron ore and the precious group metals basket, was touched on. Lastly, the delisting trend on the JSE is set to continue as two small-caps, Alaris and CSG Holdings, have announced that they are looking to depart the local bourse.
10 min
1283
Walter Aylett shares his views on Johann Rupert...
Walter Aylett, founding fund manager of Aylett & Co fund managers, explains why Reinet is one their top house picks.
23 min
1284
BizNews Power Hour - 7 Oct. market insights wit...
In this episode of the BizNews Power Hour, Nadya Swart is joined by Sean Peche with investment insights; Dr. Lawrence McCrystal - the Chairman of Cofesa - on their proposed solution unemployment submitted to President Cyril Ramaphosa; Magnus Heystek's Q&A session at the BNIC #2; Economist Mike Schussler unpacking his views on the "disastrous" shape of SA manufacturing industry and the BizNews Team.
60 min
1285
Flash Briefing: World Bank suggests SA job-seek...
News headlines:
*The World Bank said South Africa, which ranks among the world’s top 10 spenders on social assistance, could consider a range of reforms to its R156bn annual welfare program to make it more cost-effective while expanding support for the unemployed.
*The new subsea Equiano cable linking Africa and Europe will significantly decrease internet costs and triple internet speeds in South Africa, says Google.
*South Africa’s sugar industry is in talks with the government over a potential subsidy that could see it convert more than a third of its annual output into biofuel, according to a group representing companies in the sector.
2 min
1286
Wake up and smell the coffee or you might have ...
A report this week by Cofesa, the Confederation of Employers in South Africa, has warned that South Africa is flashing red for an Arab Spring phenomenon, similar to the uprising or revolution that led to regime changes across Northern Africa and the Middle East and led to the end of the regime of President Hosni Mubarak in Egypt. The study by Advocate Hein van der Walt and Dr Lawrence McCrystal draws stark parallels between the conditions that brought about the Arab Spring and those that are present currently in South Africa. Dr. Lawrence McCrystal, the Chairman of Cofesa, told BizNews that the ANC government needs to wake up, and that it can’t keep on ignoring large-scale unemployment in the country. Cofesa has submitted immediate solutions to the problem of unemployment to President Cyril Ramaphosa.
14 min
1287
'It's about internationalising yourself' - Bren...
Studying abroad is something that many young South Africans have dreamed of. The myriad reasons for this dream are not hard to come by, of course. Unfortunately, neither are the obstacles. Brent Morris, the Managing Director of IE Abroad, studied in the UK - an experience which completely opened up his world and ignited his passion for the work that IE Abroad does - assisting those that would like to get their degrees abroad. IE Abroad recently joined forces with Sable International to provide international advice to prospective students across South Africa, Zimbabwe, Nigeria and Uganda. In an interview with BizNews, Morris discussed the mutually beneficial partnership between IE Abroad and Sable and the experience which they offer to those students who would like to take the leap and get their qualifications abroad. Drawing on his own experience, Morris stated that, ‘Yes, you learn a skill. Yes, you get a qualification, but you're building an international global profile.’
15 min
1288
BizNews Power Hour - 6 Oct. Magnus Heystek on N...
In this episode of the BizNews Power Hour, Stuart Lowman is joined by Magnus Heystek with investment insights; Corion Capital's David Bacher unpacks the Corion report; Equites chief executive Andrea Taverna-Turisan on the real-estate investment trusts half-year results; Brent Morris of IE Abroad on studying offshore and the BizNews Team.
60 min
1289
Netflix is a phenomenal story - Magnus Heystek
Brenthurst Wealth Management founder Magnus Heystek leads Wednesday's market insights with the investment strategist explaining his inability to promote cryptocurrencies as an asset class due to it being an unregulated market. Netflix reaching new all time highs, as a result of the popularity of Squid Game, popular, Korean show was discussed at length with Americans seemingly consistent at being the leaders from an innovation perspective. China, executive remuneration and Sanlam taking over Absa's investment business round up the conversation.
13 min
1290
We're cheap compared to international like-for-...
Warehousing and logistics focused property fund Equites has been a standout performer within the South African listed property universe since listing in 2014. Equites chief executive Andrea Taverna-Turisan unpacked the real-estate investment trusts half-year results, with most important financial line items improving on the prior period. Andrea says that although Equites is trading at a premium to its book value on the local bourse - which is very unusual for property counters - he states that like-for-like international peers are trading at far greater premiums due to the attractiveness of the asset class.
7 min
1291
Flash Briefing: FB outage prompts SA to promote...
News headlines:
*South Africa’s new communications minister said this week’s outage of Facebook Inc. apps and services is a reminder the government can do more to support the development of local social-media platforms.
*UPL Ltd., an Indian producer of chemicals used in agriculture, will be asked to pay for the establishment of a forum that will keep the public informed about developments relating to a spill of hazardous chemicals in the South African city of Durban.
*A new analysis shows that South Africa is one of only 13 economies producing less now than a decade ago.
2 min
1292
The UK is essential to SA tourism - Mantis CEO ...
It's an exciting time in the South African hospitality industry. Paul Gardiner from the Mantis Group joined the BizNews Power Hour to discuss the potential removal of South Africa from the UK's red list. Gardiner notes that the UK is an essential part of SA's tourism market. "We would generate 2.6 million tourists internationally annually. A massive chunk - almost 450 000 - are British."
15 min
1293
From waste plastic to bricks, the Tsolane siste...
Two sisters, originally from Sasolburg, have started a company that is manufacturing eco-bricks made from recycled plastic. They are Kekeletso and Kedibone Tsiloane. Their company, Ramtsilo Bricks, is a 100% black female-owned business that has just managed to clinch a deal with building material retailer Builders Warehouse. Kedibone told Linda van Tilburg about their path to develop the product and how they overcame some of the stereotypes associated with the building industry.
10 min
1294
Steven Nathan on share buybacks and shareholder...
Sibanye-Stillwater made an announcement today that it had successfully concluded the on-market repurchase of its ordinary shares up to, but not exceeding, 5% of its ordinary shares in issue (“Repurchase Programme”). Steven Nathan, founder of 10X Investments, joined the BizNews Power Hour to provide investment insights into Sibanye’s share buyback programme, as well as other topical news, including Kumba’s appointment of a female CEO. As always, Nathan’s insights are meticulous and merited.
10 min
1295
BizNews Power Hour - 5 Oct. Market insights wit...
In this episode of the BizNews Power Hour, Nadya Swart is joined by Steven Nathan with investment insights; UK red list effects on tourism with Paul Gardiner; Paul O'sullivan on the Digital Vibes scandal, SAA and the Gupta fixer; Aeon's Asief Mohamed on Sasol and the BizNews Team.
59 min
1296
Paul O'Sullivan on SAA, Digital Vibes and Gupta...
Paul O'Sullivan of Forensics for Justice joins BizNews to discuss a number of pressing and interesting topics. The corruption buster penned a piece on SAA last week, which has been very well-received by BizNews community members. In the article, O'Sullivan writes how pleased he is to see his favourite airline back in the air once again and hopes that all “South Africans will be proud that it has been possible to bring it back and that they will support it as they did in the past.” Together with Alec Hogg, he discusses this and other subjects, including Digital Vibes and Gupta 'fixer', Kuben Moodley.
25 min
1297
‘PowerPulse cuts through the fog’ of solar powe...
In the fourth episode of the Standard Bank PowerPulse podcast series, Alec Hogg is joined again by Deerosh Maharaj, Senior Manager for Natural Resources, Power, and Sustainable Solutions at Standard Bank, to take a deeper look into solar PV as a renewable energy source. Also joining the discussion is Ricky Huyser, Project Development Director of Clearwatt, an advisory service for projects with a focus on the renewable energy space. Maharaj says that one of the greatest benefits of the PowerPulse platform is that it saves clients time and (therefore) money. “With PowerPulse, it basically cuts through the fog and gets a client to the correct solution as quickly as possible. It also ensures that the partners you’re dealing with are able to provide systems of suitable quality and that are competitive and market-related from a pricing perspective.”
20 min
1298
No good reason for Sasol declining lobbying res...
Aeon Investment Management CIO, Asief Mohamed, joined BizNews to discuss the climate lobbying resolution that was recently rejected by Sasol's board. On 14 September, non-profit shareholder activism organisation Just Share and Aeon Investment Management co-filed a non-binding, advisory shareholder resolution at Sasol Limited for tabling at its November AGM. According to Just Share, the resolution asks Sasol "to improve and expand its disclosure of its direct and indirect climate lobbying, including disclosing the annual membership fees paid to industry associations that are involved in climate lobbying activities". Mohamed says that when it comes to climate risk and environmental, social, and corporate governance (ESG), shareholders simply need more transparency.
News headlines:
*Eskom Holdings SOC Ltd., South Africa’s coal-reliant power utility, has become the world’s biggest emitter of sulfur dioxide, a pollutant linked to ailments ranging from asthma to heart attacks, the Centre for Research on Energy and Clean Air said.
*Members of the National Union of Metalworkers of South Africa started a national strike on Tuesday following a deadlock in negotiations for a new wage deal.
*South Africa's digital Covid-19 vaccine certificate, which features a scannable QR code, has been launched by the department of health.
2 min
1300
Smoke Screen Podcast: BAT, bribes and spies in ...
The South African tobacco industry has had its share of problems over the years, but they're nothing compared to what's now occurring. The Bureau of Investigative Journalism, based in the UK, has had a team looking into activity in the local industry for the last 18 months. They've come up with a series, called Smoke Screen - which is available as a podcast. Listen in on a snippet from the podcast, followed by Alec Hogg discussing the tobacco industry (and podcast) with James Ball.