BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Oil shock could kill rate cut; Trevor Manuel eats humble pie; Prosus opinion divided; Trump tax disclosure
The assault on Saudi Arabian oil facilities is already taking its toll on South Africa’s rand, and may put paid to any hopes of an interest-rate cut on Thursday, reports Bloomberg. The chairman of South African insurer Old Mutual, Trevor Manuel, on Tuesday apologised for comments he made last week…
Oil price shock: What it means for SA; Sasol soars; Musk - 'pedo guy' insult normal in SA; BMF backs Moyo; Eskom advertises for expensive help
The oil price spike has rocked financial markets, with good news and bad news for South Africa. Sasol jumped 10% on the JSE as investors absorbed the news of drone strikes on Saudi Arabian oil facilities. South African entrepreneur Elon Musk hired a private eye to dig up dirt on…
Saudi oil output halved; SA's new oil laws; CR's envoys into Africa; HK tourism drops 40%
Friction between the US and Iran escalated to a dangerous level after Saturday’s attack on a critical Saudi Arabian oil facility which knocked out half the country’s crude production – around 5.7m barrels a day or 5% of global oil supply. Political turmoil engulfing Hong Kong continued as tens of…
58 murders a day; Record Steinhoff fine; 40% of borrowers default; Mining, Rand and Aspen surge; Sanlam for Rhinos; Spur click-and-collect
In today's business headlines: The number of murders in South Africa has climbed to the highest level in a decade as an overburdened police force struggle to keep violent crime in check; Steinhoff has been fined a record R53m by the financial regulator for failing to properly disclose accounting problems;…
Curious tale of Tygerberg doctors disciplined for rescuing broken chairs
Lawyer Michael Bagraim shares the strange story of the way three doctors at a South African academic hospital were hauled into a disciplinary hearing over their attempt to rescue broken chairs from a pile of dumped waste. The labour law expert was brought into the picture after their appeal had…
Kokkie Kooyman weighs in on Discovery debate - spots 6.9% divi stock
There are a number of South African money managers who could claim to be world class. Particularly in financial services where veteran portfolio manager Kokkie Kooyman's expertise has earned him a global following. Kooyman travels widely and often (always in Economy Class he once told me) to understand opportunities that…
Prosus soars on debut; A friend in Moody’s; Shake the Baobab tree; SA/UK trade deal; Bridge over troubled Brexit
In today's business headlines: Shares in Prosus, the Naspers spin-off which includes the groups 31% stake in Chinese tech giant Tencent, surged on its debut on the Euronext stock exchange in Amsterdam jumping by as much as 32% above its reference price in early trading; South Africa has dodged the…
Basil Sgourdos: Prosus listing has unlocked $20bn for Naspers shareholders
On Rational Radio this week, Naspers Group CFO Basil Sgourdos told Alec Hogg how the decision to list the group's global internet assets in the now Dutch listed company Prosus, has unlocked more than $20bn for shareholders. Speaking from Amsterdam on the day Prosus shares were listed, Sgourdos explained that…
David Shapiro: Praising Naspers, blasting Sasol, Old Mutual, Aspen
South Africa's favourite market commentator, Sasfin Securities deputy chairman David Shapiro, was at his best in this week's episode of Rational Radio. He is forthright in his appreciation for the role that Naspers has played in bolstering SA retirement portfolios (his own included) and delighted to see the strong debut…
Secret of I Love Coffee's success: Only hires deaf baristas.
Gary Hopkins tells me the difference between social entrepreneurs and their vanilla alternatives is that they measure success in terms of jobs created rather than profit generated. And by that measure, Hopkins's mushrooming I Love Coffee enterprise is roaring. After popping into the nearby offices of DeafSA one day, Hopkins…
South Africa does not need an IMF bailout - Dawie Roodt
Author and political scientist RW Johnson has predicted that South Africa will eventually be forced to go to the IMF and ask for a loan. Several other analysts have also supported this idea, but this lender of last resort has been described as a brutal loan shark by countries who…
VBS liquidators want Nkandla; Hawks investigate Malema; China SA ambassador takes aim at Trump; Mine strikes; Discovery share perks up
The wheels of justice are starting to turn a bit faster in South Africa, with former president Jacob Zuma and Economic Freedom Fighters leader Julius Malema both in the spotlight in connection with court action. In an unusual move, Lin Songtian, China’s ambassador to South Africa, has opened fire at…
Xenophobia crackdown - 600 arrests; Moyo-Manuel battle continues; MTN R5m WhatsApp fine; How Trump's Tweets move markets
South African authorities are cracking down on the perpetrators of a series of xenophobic attacks that left at least 12 people dead, Police Minister Bheki Cele said. The police have arrested 639 people so far. Old Mutual has once again blocked its CEO Peter Moyo from returning to work. Old…
Rene van Wyk: The unlikely CEO helping transform ABSA's fortunes
One of my biggest surprises of the past year was seeing ABSA's long-time CEO Maria Ramos's resignation a few days after our interview in late January at the WEF meeting in Switzerland. As SA's new president Cyril Ramaphosa was a regular visitor to the high profile ABSA presence on Davos's…
MTN nationalisation threat; Sasol delays results (again); No Eskom "haircut"; HK activists want US help.
The fallout from last week’s xenophobic attacks on foreign nationals is now affecting some of South Africa’s major companies, especially MTN. China’s exports to the US fell for the fourth straight month in August, down almost 16% year-on-year, after a 6% drop in July. South Africa’s oil-from-coal and chemicals group…
SARB Governor Lesetja Kganyago: Is SA's upbeat 2Q GDP flash in the pan?
SARB Governor Lesetja Kganyago's once jet black moustache has greyed. And there are a few more lines on his face. But apart from those physical signs, only those who live close to the fire would appreciate the tough ride he has had over the past few years as, first, Zuptoids…
Andrew Muir: Environmental tipping point near - at last world is listening
Wilderness Foundation head Andrew Muir is one of those low profile South Africans who quietly go about changing the world. He is a regular on global platforms, providing compelling evidence of the environmental challenges being wrought by man's ignorance of how his actions are affecting Mother Nature. Andrew is also…
Skye Meaker: WEF Africa's youngest agent for positive change
I met Skye Meaker earlier this year in Davos, the day before his 17th birthday. The lad from KZN was the youngest attendee of the couple thousand participants at the annual meetings of the World Economic Forum. He had been invited as the winner of a global competition for wildlife…
SA violence in global spotlight; 300 arrests; Boris prepares to die for Brexit; US stocks soar; MAS, Capitec, Discovery, Hyprop, Assore
The World Economic Forum on Africa was supposed to be President Cyril Ramaphosa’s chance to prove South Africa’s claim to being the continent’s top investment destination. But it has all gone horribly wrong, says Bloomberg. About 300 people have been arrested as police move to restore calm across South Africa,…
Dr Martyn Davies: Time for talking is over - SA needs action. Now.
At the WEF Africa meeting, independent-minded Dr Martyn Davies of Deloitte picked up a bunch of penetrating questions from the Biznews community - and provided his own forthright responses. Davies, who is fluent in Mandarin and travels widely, tackled thorny issues ranging from the proposed NHI through to stalling economic…