Inside Investing: Froneman won't put money into...
Episode six of the Biznews podcast which exposes new investment opportunities and offers fresh ideas on moneycraft features Neal Froneman, the man who built what is now the R150bn mining giant Sibanye Stillwater. The forthright miner explains why he believes South Africa is a poor destination for global capital. Valenture Institute’s founder Robert Paddock shares insights into the boom in online learning, its difference with the online education forced on schools, and why his new venture is a great alternative for high school pupils. Veteran market commentators David Shapiro and Peter Major apply their mind to the surge in delistings on the JSE; and we pick up on the latest Netflix quarterly results to assess whether the $50 fall in the share price presents a buying opportunity.
34 min
2452
Flash Briefing: Anglo American sued in SA for Z...
* A group of Zambian women and children are suing Anglo American, alleging the mining company caused widespread lead poisoning from a mine it owned until 1974 in the northern city of Kabwe. The case, which is demanding compensation and a clean-up of the area, was filed in a Johannesburg court on Wednesday by 13 plaintiffs on behalf of an estimated 100,000 people.
* The US and Europe are heading for a clash over their preferred candidates to lead the World Trade Organization as the selection of the first woman to run the referee of global commerce enters a pivotal phase. The European Union is inclined to support Nigeria’s Ngozi Okonjo-Iweala - the favourite among the 55 members of the African Union.
* South Africa’s state-owned pipeline operator Transnet said it’s cleaning up a crude oil spill in the eastern city of Durban that was caused by attempted fuel theft.
* UK companies' Q3 dividend payouts were the lowest for ten years and almost half the level seen in Q3 2019, according to the Link Dividend Monitor.
* Gold advanced to a one-week high Wednesday as the dollar weakened amid optimism that US lawmakers may clinch a pre-election spending deal to bolster the economy.
In today's BizNews headlines:
* The Johannesburg Stock Exchange is to fine scandal-hit Steinhoff International R13.5m for breaching listing requirements;
* SA’s third biggest mobile operator Cell C reported a loss of about R7.6bn;
* London-listed SA diamond miner Petra Diamonds has abandoned plans to sell the business in favour of a debt-for-equity restructuring; and
* Deputy Chief Justice Ray Zondo, who is heading an inquiry into industrial scale corruption in South Africa, couldn't contain how appalled he was that the former chairperson of state-owned ports and railroad company Transnet Mafika Mkwanazi could not explain why he approved several hefty payments to ex-Transnet CEO Siyabonga Gama. Mkwanazi agreed that his board is liable for R17m and should pay it back. For more on that story, do visit BizNews.com.
2 min
2454
The Alec Hogg Show - Meet Chris Hart the gentle...
Our guest in this episode is outspoken economist Chris Hart, a former science teacher who did a B Comm because he thought it would help when he was became a headmaster role. Instead, it was the ticket to a bank’s dealing room where he helped traders make a packet when contrarian forecasts that often beat the economic consensus. But the real story about the free spirited, independently minded Chris Hart is in how he was targeted by political interests ahead of South Africa’s fractious 2016 Municipal elections. The gentle giant refused to be bowed by a social media mugging fuelled by London's unlamented PR shop Bell Pottinger. But his employer blinked. And just three months after being headhunted because of an independent mindset, his corporate career was sacrificed on the altar of political correctness. It’s a fascinating story of a life punctuated with series of testing personal challenges, including the murder of his identical twin brother. Yet he remains in service of his less fortunate fellows. And an inspiration to the rest of us.
48 min
2455
Robinhood trading scandal: why it won’t happen ...
Earlier this month, popular trading platform Robinhood reported that hackers had accessed almost 2,000 of its trading accounts. In our Friday Finance webinar, BizNews editor Jackie Cameron spoke to global financial markets specialist Fred Razak of CM Trading. He outlines three simple ways we can safeguard ourselves against similar situations.
2 min
2456
Rational Radio: A frank discussion with Sibanye...
The Tuesday Noontime webinar is the only weekly webinar hosted by Biznews founder Alec Hogg, with SA's favourite market commentator David Shapiro from Sasfin, as the regular guest. This week we were joined by Neal Froneman, CEO of Sibanye Stillwater. The guest investment analyst was Peter Major from Mergence Corporate Solutions.
67 min
2457
Hope for at risk leopards: A clever plan for th...
As humans continue to develop, we impinge on the habitat of animals and collisions are inevitable when the paths of big cats and humans cross. Some of the big cats - like lions - can be successfully contained in nature reserves, but this is not the case for the famously elusive leopard who likes to roam. According to the global wild cat conservation organisation, Panthera - that has classified leopards as vulnerable - the stealthy, spotted cats have vanished from 65% of their historic range in Africa. Trophy hunting and their use in traditional regalia are contributing to the decline of leopards in Southern Africa. In a recent study on the leopard populations of the Sabi Sands and Phinda reserves, researchers found that the restrictions on the movement of leopards and what they call ‘over-exploitation of leopards over the years’ - this includes poaching and humans that retaliate for attacks on livestock - have led to inbreeding. One of the researchers is Dr Vincent Naudé, from the Institute for Communities and Wildlife in Africa (iCWild) at the University of Cape Town. He is also a Post-Doctoral Researcher in Counter Wildlife Crime for Panthera. Dr Naude and a team of researchers have proposed wildlife corridors that link reserves as a solution to enable leopards to roam and encourage gene flow. He spoke to BizNews about the study and the success of the Panthera programme to introduce artificial or faux leopard fur into Zulu and other religious customs.
13 min
2458
Flash Briefing: SA eases travel restrictions; I...
In today's BizNews headlines:
* South Africa has reduced the number of countries on its high risk Covid-19 list by more than half to 22 from 60, the government said on Monday, although Germany was among the notable additions to the register;
* The total number of Covid-19 related deaths in South Africa has risen to 18,471 (as of 18 October). More than 703,793 cases have been reported in the country, with Minister of Health Dr Zweli Mkhize and his wife among those who have tested positive;
* South Africa will be hard pressed to realise its ambitions of attracting R1trn, with the IMF warning that investment as a percentage of GDP will reach a record low of 13% this year; and
* The clock is ticking for Zambia to convince reluctant bondholders to accept an interest-payment holiday while it works out a debt-restructuring strategy.
2 min
2459
Capitec opens low-cost global share trading to ...
As part of an upgrade to their mobile banking app, Capitec has teamed up with EasyEquities - a low-cost investing platform. The partnership, says CEO Gerrie Fourie, is 'about adding value to our clients'. The app allows for first-time and beginner investors to find their feet in the often intimidating world of investments, by offering a demo mode. Aside from that, the app allows for users to invest in 'partial shares.' This allows them to invest amounts that they feel comfortable with, and more importantly, it opens up the world of investment and future planning to many who didn't have access or simply felt intimidated. 'You need to start investing early in your life to make sure that you're looked after when you're older', says Fourie.
21 min
2460
CR’s New Deal: Real recovery, or has SA seen th...
President Cyril Ramaphosa revealed an ambitious post-Covid-19 economic recovery plan in Parliament construction in Parliament which could create 800,000 jobs. It also includes a 3-month extension of social grants and amendments to the red lists of countries to enable more tourists to come to South Africa. BizNews panel consisting of venture capitalist Vusi Thembekwayo, political analyst Lukhanyo Mnguni and Busi Sibeko from the Institute for Economic Justice said the government stimulus package for the economy should be coupled with anti-corruption measures to ensure that the money allocated, gets to the right people. There was also a suggestion that the informal sector should receive more help, that credit markets should be liberalised and that the provinces would be a perfect place to start trimming the bloated civil service.
11 min
2461
Inside Investing: Sanlam CEO on bumper pay pack...
Welcome to episode five of the BizNews podcast which exposes new investment opportunities and offers fresh ideas on investing and moneycraft. In this episode Sanlam’s new CEO Paul Hanratty explains why his much discussed pay package aligns his own interests with those of shareholders; market commentators David Shapiro and Adrian Saville provide a guide to what investors should expect from share prices if Donald Trump wins another term – or Joe Biden is voted into office; there’s news from Cemair’s Miles van der Molen on how the local aviation sector is adapting after SA’s skies were reopened two weeks ago; and a top US banking analyst looks at this week’s quarterly results and explains why Visa and Mastercard are now highly investible
In today's BizNews headlines:
- President Cyril Ramaphosa revealed an ambitious post-Covid-19 recovery plan which is aimed at generating 800,000 job opportunities in the immediate term. Mr Ramaphosa announced four interventions which include a massive roll-out of infrastructure throughout the country, the rapid expansion of energy generation capacity to secure reliable energy within two years, an employment stimulus aimed at creating jobs and a drive for industrial growth.
- A Biznews panel consisting venture capitalist Vusi Thembekwayo, political analyst Lukhanyo Mnguni and Busi Sibeko from the Institute for Economic Justice said the government stimulus package should be coupled with anti-corruption measures to ensure that the money allocated gets to the right people and Thembekwayo called for a liberalisation of credit markets.
- The alcohol industry has acted swiftly and cancelled supplies to the 44 alcohol outlets in the Western Cape whose licences have been revoked by the provincial Liquor Authority for contravention of the Covid-19 and liquor trading regulations.
- South Africa’s main stock index slid yes as risk off sentiment dragged global equities lower. The FTSE/JSE Africa All Share Index fell 1.4%, the biggest decline since Sept. 25.
3 min
2463
The Alec Hogg Show - Meet David Scott, SA's You...
Our guest in episode is an extraordinarily talented and courageous young man whom the Scott family call David but the rest of South Africa knows as The Kiffness. His wildly popular musical parodies and satirical Youtube videos have attracted millions upon millions of viewers, turning the mild mannered musician into one of the most recognizable faces in the country.
The one-time medical student’s art hasn’t been without risk, however, with occasional puffed up politicians taking sufficient umbrage, occasionally letting lose their social media attack dogs. But as you’ll hear in this deeply moving discussion with a 32 year old with wisdom well beyond his years, The Kiffness is unbowed. Because he figures that without freedom of expression, there’re no point in calling ourselves a democracy.
36 min
2464
Flash briefing: Cape company gets set to produc...
In today’s news headlines:
* Biovac, a Cape company, says it could produce vaccines for a quarter to half of South Africa;
* At least 20% of jobs are lost forever thanks to Covid-19 lockdown, says an analyst;
* Finance Minister Tito Mboweni has asked for a deadline extension to develop plans to fix South Africa, with President Cyril Ramaphosa scheduled to make important announcements today (Thursday, Oct 15); and
* Famous Brands announced that its British chain of restaurants, GBK, had gone into administration - and a few hours later it was disclosed that a rescuer had been found for many of its sites
2 min
2465
Well-bought is half-sold: why value investing m...
From March 2000 to January 2007, the MSCI World Value Index returned nearly twice that of the MSCI World Growth Index. Since then, it has under-performed by 52%. Is now the best time to take some profit on growth and quality strategies and switch to value investing? Or, has the world changed so much that the value strategy is no longer relevant? BizNews founder Alec Hogg chatted to Sean Peche of Ranmore Fund Management to find out.
25 min
2466
Rational Radio: In discussion with Sanlam CEO P...
The Monday Noontime webinar is the only weekly webinar hosted by Biznews founder Alec Hogg, with SA's favourite market commentator David Shapiro as the regular guest. This week we were joined by Paul Hanratty, CEO of Sanlam and guest investment analyst Adrian Saville from Cannon Assets.
* Johnson & Johnson halts clinical trials of its Covid-19 vaccine after a participant falls ill.
* Stock market darling Sasol is benefiting to the tune of about R8bn from fuel subsidies and a carbon tax exemption.
* Advisors to the president are recommending a three-year “solidarity tax” that would boost income tax for higher earners, according to Bloomberg news agency.
* According to the Competition Commission, Shoprite Checkers has agreed to stop enforcing exclusivity clauses in leases, ushering in a new era in the South African grocery retailing environment.
* All regions in SA lost about a fifth of their jobs between February-April, a study by the University of the Free State has found.
2 min
2468
Inside Covid-19: Plan to live with virus at lea...
In this episode, we look at the global vaccine race, in an interview with expert Arnaud Bernaert, Head of Shaping the Future of Health and Health Care, World Economic Forum. He sets out who is likely to get the vaccine and why we must prepare for coping with Covid-19 in our midsts at least until 2023. Also coming up, with the world spotlight on mental health, we hear how South Africans are coping in the era of Covid-19, with Dr Seranne Motilal of Discovery Vitality – which hosts a special, free webinar this week where you can hear insights from a range of experts on how to help yourself and your family members through difficult times (registration link at BizNews.com).
42 min
2469
The Alec Hogg Show - Brutally honest Rob Hersov...
Having just turned 60 and with the kind of wealth that brings total independence, globally successful entrepreneur Rob Hersov shares his obsession of helping weld together anti-ANC forces to unseat the ruling political party. Having swum against the tide when returning home three years ago, he has a vision for a South Africa that is very different to today's troubled, failing State. The man who was tutored by two Ruperts (Murdoch and Johann) believes the turnaround will start with ejecting the country's ruling political party.
* South Africa’s manufacturing output contracted 10.8% year on year in August after shrinking by a revised 10.2% in July, the statistics agency said on Monday.
* The FirstRand group, which owns an investment bank, consumer lender, and South Africa’s biggest vehicle-financier, has started a new incentive program to retain top managers.
* South African President Cyril Ramaphosa said a spate of killings in rural areas were acts of criminality and rejected the notion that an orchestrated campaign is being waged to drive white farmers from their land.
* South Africa’s tourism and hospitality sector - brought to a standstill during Covid-19 lockdown -is showing signs of improvement.
2 min
2471
Flash Briefing: SA heads for financial crisis; ...
In today's news headlines:
* South Africa is heading for a budget crisis by the 2024/25 fiscal year unless it addresses a widening gap between revenue and expenditure, Finance Minister Tito Mboweni has warned.
* Two state entities, Denel and the Land Bank, want more taxpayer support.
* The guardians of the global economy will gather this week under the cloud of the worst recession since the Great Depression, and a recovery dependent on scientists finding a coronavirus vaccine, reports Bloomberg.
* Just under 700,000 positive cases have been reported in South Africa, number 11 on the list of the world’s countries hardest-hit by Covid-19.
In today's news headlines:
* Barrick Gold Corp.’s top executive says the gold industry needs more consolidation so it can increase exploration to boost depleting reserves, lure more generalist investors and improve efficiencies;
* As SA’s crackdown on corruption gathers steam, in Brazil efforts to stop graft are winding down. President Jair Bolsonaro said he’s put an end to the country’s long-running Carwash probe;
* President Donald Trump said he won’t participate in the second scheduled debate with Joe Biden after the organising group said it would be held remotely; and
* The executive director of the European Medicines Agency said a Covid-19 vaccine is looking “unlikely” by year-end.
In Episode Four of Inside Investing, we talk to Bernard Swanepoel, chairman of the Joburg Mining Indaba about the major theme emerging form two days of high level engagement; hear from top asset managers about the appeal (or lack of) in Sasol shares; get insights on the turnaround opportunity called Tongaat Hulett; and hear from Martin Freeman, CEO of US medical property specialist Orbvest.
32 min
2474
Great Bank Heist: VBS, Philip Truter, state cap...
Last week saw high profile arrests of Free State tenderpreneurs closely linked to the ANC secretary general Ace Magashule. Yesterday the news broke that one Philip Truter, former CFO of heavily pillaged VBS Bank, has cut a deal that sends him to jail for an effective seven years. With a number of very high profile politicians about to get their come-uppance over fraud which cost SA taxpayers almost R2bn in repayments to depositors, it’s time for a refresher on the VBS scandal. In this flashback to 2018, hear BizNews founder Alec Hogg picking up the story of what has been dubbed The Great Bank Heist.
25 min
2475
Jonathan Oppenheimer - SME loans, where the bil...
When the country experienced its unprecedented lockdown in March this year, the Oppenheimer and the Rupert families were among first of the country’s wealthy to pledge a whopping R1 billion each to contribute to mitigate the financial woes that would inevitably follow. The Motsepe and Bekker families and another Oppenheimer, Mary, and her daughters soon followed. Most of this went to the Solidarity Fund, but Jonathan Oppenheimer and Johann Rupert decided to make their funds available for small, micro and medium enterprise loans. In an exclusive interview with Linda van Tilburg, Jonathan Oppenheimer told BizNews where the billions that he and his father donated have been spent, how different branches of the family do their own thing. Plus, he delves into the future of mining and tells us where home is.