Business News Leaders: Recent Episodes
Business Day TV
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Currency devaluations, coups and green hydrogen potential are factors that have been identified by Oxford Economics Africa as trends to watch on the continent next year. Jacques Nel, Head of Africa Macro at Oxford Economics Africa joined Business Day for more insight into the group's watchlist for the continent as we transition to next year.
Currency devaluations, coups and green hydrogen potential are factors that have been identified by
Oxford Economics Africa as trends to watch on the continent next year. Jacques Nel, Head of Africa Macro at Oxford Economics Africa joined Business Day for more insight into the group's watchlist for the continent as we transition to next year.
Construction activity has picked up in the third quarter, according to the Afrimat Construction Index which sits at a 7-year high of 131.5 points. Business Day TV unpacked the index in greater detail with Independent Analyst, Roelof Botha.
Naspers, having weathered a decade of questionable investments, strategic shifts and substantial losses is now showing signs of a positive turnaround, according to Financial Mail's Ann Crotty. Business Day TV discussed this in more detail with Crotty.
As the aviation industry continues to soar post the 2020 Covid-19 hit, analysts aren't expecting a slowdown anytime soon. According to research by the International Air Transport Association, the sector's net profit is expected to climb by 3.8% to $25.7 billion in 2024. Business Day TV caught up with Rene Koinzack, Lufthansa's newly appointed senior director for sales in Nigeria, Equatorial Guinea, Southern and East Africa, for a look at how the group has benefitted from the uptick.
Aspen and Sandoz have inked a near R2 billion deal. For that price tag, Aspen will buy Sandoz's Chinese business. In return, Sandoz will take on four anaesthetic products that Aspen sells in Europe. Business Day TV unpacked the deal in greater detail with Aspen's Group CFO, Sean Capazorio.
Amid ongoing developments surrounding South Africa's capacity for electric vehicle production and export, Business Day TV speaks to Financial Mail's David Furlonger about whether there is sufficient policy certainty for investment to flow.
Eskom has put new regulations in place for renewable energy players to help protect access to the grid. Business Day TV spoke to James Mackay, CEO of the Energy Council of SA about red-tape as far as renewable energy projects are concerned and its impact on the country’s energy transition journey.
Transaction Capital has swung into an annual loss, saying the results reflect what has undoubtedly been the most challenging and disappointing year in its history. Business Day TV unpacked the performance with incoming CEO, Jonathan Jawno.
South Africa's economy contracted by 0.2% in the third quarter and the sharpest falls in output came from agriculture, construction, manufacturing and mining. Business Day TV unpacked the GDP print with RMB economist, Siobhan Redford.
A number of heads of states from across the world have pledged to triple global renewable energy capacity by 2030 at this years COP28 summit. While the commitment has been welcomed, an international non-profit organization - Climate Group has highlighted policy barriers that are holding back the uptake of renewables in some of the world's largest economies. Business Day TV discussed this in detail with the Director for Energy at Climate Group, Sam Kimmins.
The Constitutional Court has granted a partial victory to independent candidates, easing their path to elections by reducing the signature threshold to 1,000 or 15% of local support. Business Day TV unpacked this ruling in greater detail is political analyst, Asanda Ngoasheng.
South Africa's economy contracted by 0.2% in the third quarter due to a sharp fall in the agriculture, forestry and fishing industry. Declines in construction, manufacturing and mining also weighed. Business Day TV unpacked the print in greater detail with Gina SChoeman, Economist at Citibank.
Alexforbes has posted a 96.5% jump in interim headline earnings per share, as the financial services group benefitted from its strategy shift where it reconfigured its core business away from insurance. Business Day TV unpacked the performance in greater detail with Alexforbes CEO Dawie de Villiers.
Herenya Capital founder, Petri Redelinghuys provides technical analysis on Glencore, Anglo American and Bidvest.
With Africa only responsible for 4% of total global emissions, while housing the lion’s share of minerals needed for the green energy transition, Business Day TV caught up with Chantal van der Watt, PwC Associate Director for Sustainability and Climate change for her take on what COP28 could mean for Africa.
Capital Appreciation has maintained its half-year dividend at 4.25c despite economic challenges, citing high demand for its products. The fintech group anticipates a strong second-half performance, fuelled by diversified revenue streams and growth opportunities. CEO of Capital Appreciation, Brad Sacks unpacked the company's performance in greater detail with Business Day TV.
Sirius Real Estate, owner of German and UK business parks says that these regions remain attractive for growth. The JSE and London Stock Exchange listed group’s CEO, Andrew Coombs joined Business Day TV for greater perspective on navigating the real estate market in these territories in the current economic climate.
After two consecutive months of decline, the Absa PMI has managed to rise by nearly 3 index points in November to a reading of 48.2. For more detail on what the reading suggests about the health of SA's manufacturing sector, Business Day TV spoke to Sello Sekele, Economist at Absa CIB.
Tiger Brands says its annual performance reflects a challenging trading environment market by high food inflation, cost-conscious consumers, a depreciating rand and unreliable electricity supply. Business Day TV spoke to the group's CEO Tjaart Kruger for more insight.
South Africa's table grape industry is confronting a season of mounting concerns as port crises and power cuts continue to trigger equipment breakdowns and delays at Durban and Cape Town port terminals; resulting in millions of losses in export earnings. Business Day TV spoke to Business Day's Denene Erasmus for more detail on the story.
PGM miners have been dealt many blows in 2023, including higher costs associated with load shedding and lower metal prices. Business Day TV caught up with the Head of PGMs & Chief Sustainability officer at Afriforesight, Deborah Chikukwa and she shared her outlook for the industry.
The SA Union of Students (SAUS) has sounded the alarm on the National Student Financial Aid Scheme (NSFAS) saying it is on the brink of collapse but NSFAS has refuted the claims. For more insight, Business Day TV spoke to NSFAS spokesperson Ishmael Mnisi.
Mozambique held local elections in early October but the results announced by the election commission threaten to spark a political crisis. Business Day TV spoke to Louw Nel, Senior Political Analyst at Oxford Economics Africa, for his take on the fraught political situation and its potential impact on the country's economy.
The National Council of Provinces is set to sign off on the National Health Insurance (NHI) Bill and this will allow the government to run with its plan for state administered healthcare. But critics says the system will fail to deliver even the most basic of healthcare services. Business Day TV spoke to Financial Mail editor, Rose Rose for more detail on the story.
Climate finance in SA needs to increase by up to fivefold if the country is going to meet its globally committed climate targets by 2023, according to the SA Climate Finance Landscape report released by the presidential climate commission. To unpack if this is possible, Business Day TV spoke to Happy Khambule, Environment & Energy Manager at Busa.
Vukile Property Fund has described its half-year results as 'exceptional'. The commercial property group has posted a 5.2% rise in funds from operations and a 10% increase in its interim dividend, as it benefitted from a strong showing in both South Africa and Spain. Business Day TV discussed the performance with CEO Laurence Rapp.
The 28th session of the Conference of the Parties (COP28) is underway in Dubai. Business Day TV discussed COP28's prospects and challenges with Nigel Beck, Head of Sustainable Finance & ESG Advisory at RMB.
Following a second revision of its inflation measure, Zimbabwe’s CPI jumped by nearly 22% in November from almost 18% previously. This defying the downward trend experienced after previous revisions. Business Day TV unpacked the detail of this with Development Economist, Prosper Chitambara.
Opposition parties, including the DA, IFP, and ActionSA, have formed a coalition, backed by the Afrikanerbond, aiming to unseat the ANC in the 2024 elections. This multiparty charter is committed to addressing issues like crime and corruption, by excluding collaboration with the ANC and EFF. Business Day TV spoke with journalist Thando Maeko for greater perspective on the move.
With the festive season fast approaching, Business Day TV caught up with Tshifhiwa Tshivhengwa, CEO of the Tourism Business Council SA for his take on whether the sector can shrug off the effects of load-shedding and make the most of the upcoming holidays.
Delta Property Fund has been hit by a double whammy. During its half year, the group had to deal with elevated interest rates and increased vacancy rates and this weighed on its performance, as funds from operations fell 11.1%. Business Day TV spoke to the CEO of Delta Property Fund Bongi Masinga for more insight.
African economies are displaying increasing growth divergences. To unpack the detail of this, Business Day TV caught up with Ridle Markus, SSA Macroeconomist at Absa CIB.
A senior Volkswagen executive has commented that he is 'very worried' about the future of the company's operations in South Africa given persistent power cuts and logistics challenges. Business Day TV spoke to Financial Mail Editor-at-Large, David Furlonger for his take on the situation and whether he believes the current challenges in SA would be enough to prompt VW to exit the country.
Organised business has appealed to the National Council of Provinces (NCOP) to delay its vote on the National Health Insurance (NHI) Bill and send it back to parliament's select committee on health & social welfare so that MPs can relook it. The committee approved the bill last week without making any changes and Business Unity SA (Busa) and Business for SA (B4SA) believe this shows that the committee ignored the constitutional issues raised by four provinces and a wide range of stakeholders. For more insight on that, Business Day TV spoke to B4SA chair Martin Kingston.
According to PwC’s Africa Energy Review 2023, the continent’s energy transition journey is faring well and is on track to meet the Paris Agreement targets. Business Day TV explored the findings of the review in greater detail with Pedro Omontuemhen, Africa Oil & Gas Leader at PwC.
The rand rigging scandal is back in the spotlight with reports citing that banks fingered in the ordeal bagged R1trn per day. The Financial Mail has however pointed out that the numbers do not add up and suggests that this is being politicized by the ruling party ahead of next year’s election. Business Day TV spoke to the publication's editor, Rob Rose for more detail.
The year's biggest shopping event, Black Friday, is taking place in a tough economic climate where consumers are having to count every rand as high interest rates and elevated inflation eat into disposable incomes. Business Day TV spoke to Tumelo Ramugond, Head of Credit Card at Standard Bank for greater perspective on consumer spending trends during this period.
The Monetary Policy Committee (MPC) has decided to keep the repo rate on hold at 8.25%. To unpack this decision, Business Day TV spoke to Koketso Mano, Senior Economist at FNB and Portfolio Manager for Fixed Income at Sanlam Investments, James Turp.
Investors have shied away from stocks that benefit from growing geopolitical conflicts. Trends have shown that investors have weighed markets wisdom against human morality in times of war; often investing in alignment with their human values. Business Day TV sits down with Jameel Ahmad, Chief Analyst for GTC Dubai to discuss investor sentiment during times of conflict.
Despite taking a R63m hit, related to costs associated with load shedding, KAL Group has managed to deliver upbeat earnings. During the full year period recurring headline earnings per share increased by 7.2%, boosted by a near 43% jump in revenue. Business Day TV unpacked the numbers with company CEO, Sean Walsh.
Business Day TV speaks to Tarris Arnold from Luno about the current trends playing out in the cryptocurrency market.
Nigerian President, Bola Tinubu's reform agenda is taking shape. The West African nation has passed its 2024-2026 medium-term expenditure framework tallying next year's budget and expected reform costs. As things stand, revenue of N17trn undershoots expected spend of N24trn for next year. Business Day TV spoke to Pieter Scribante, Senior Political Economist at Oxford Economics Africa for more detail.
Members of Parliament have voted for the removal of two judges in SA - John Hlophe and Nkola Motata. Hlophe was found guilty of misconduct for allegedly trying to influence the Constitutional Court in a matter involving former president Jacob Zuma. He continues to contest the findings in ongoing legal proceedings. Meanwhile, Motata, initially convicted of drunk driving in 2007 and later found guilty of misconduct, is facing renewed scrutiny after the Supreme Court of Appeal overturned a prior decision, ordering the Judicial Service Commission to recommend his removal. Business Day TV unpacked these proceedings in greater detail now with legal writer for Business Day, Tauriq Moosa.
Jason Quinn is no longer an executive employee at Absa. He leaves the position of Financial Director at the lender after 7 years in the position to step into Nedbank's offices as CEO at the end of May next year. He will replace current Nedbank CEO MIke Brown. Business Day TV spoke to Banking Analyst and Portfolio Manager at Denker Capital, Kokkie Kooyman for his assessment of the move.
Nvidia has beat analysts profit expectations, with third quarter earnings per share surging to $4.02. The performance comes as revenue more than tripled during the period, as the company continued to benefit from the artificial intelligence boom. Business Day TV unpacked the numbers with the Co-founder and CIO at Anbro Capital, Craig Antonie.
Sub-Saharan Africa has roughly 144 mobile money operators. This indicative of the relationship between technology and the continent's unbanked population. Business Day TV explored the relationship in greater detail with Sisonke Mgwebi, Consultant at Frost & Sullivan with specific focus on earned wage access.
The S&P Global has maintained South Africa's rating but has warned of risks, anticipating slower economic growth and an increase in public debt. Editor-At-Large for Business Day, Hilary Joffe joined Business Day TV for a detailed analysis of the ratings agency's outlook.
Food and fuel prices are responsible for yet another increase in the inflation rate. Inflation accelerated to a five-month high
of 5.9% in October from 5.4% the previous month. Kevin Lings, Chief Economist at Stanlib joined Business Day TV to unpack the print in greater detail.
Business sentiment slipped in the fourth quarter. The RMB/BER confidence index dropped by two points to 31 in the fourth quarter, largely due to a sharp deterioration in sentiment among new vehicle dealers. Business Day TV spoke to RMB Economist Siobhan Redford for more insight.
In 2017, the competition Commission brought 28 banks under investigation for price fixing involving the rand. Standard Chartered Bank is the second institution to agree to settle with the Commission after the scandal was exposed. Business Day TV spoke to Andre Cilliers, Director & Currency Strategist at Treasury-One, and discussed what rand manipulation is, as well as its impact on the South African Economy.
African Bank's earnings have come under pressure. Profit for the year slumped over 31% to R505 million, as the lender's bad debts rose. Business Day TV discussed the annual performance with Zweli Manyathi, Group Executive for Business Banking at African Bank.
Vodacom is set to unveil a strategic master plan as it looks to dominate the African remittance market. With a goal of turning their mobile platform into a competitive remittance hub, the telecoms company aims to challenge rivals by offering lower fees. Technology Correspondent for Business Day, Mudiwa Gavaza unpacked the company's plan with Business Day TV.
Telkom's interim headline earnings per share have grown by almost 47% thanks to lower depreciation charges and growth in core profit. The group has also announced that it is in exclusive negotiations with a consortium to sell its towers business. Business Day TV unpacked the detail of the group's financial and strategy with CEO Sermae Taukobong.
Netcare has shrugged off challenges resulting from the tough macroeconomic environment. The private healthcare group has delivered on all its operational and strategic targets over the past financial year, resulting in adjusted headline earnings per share jumping 27%. Business Day TV discussed the performance with Group CEO Richard Friedland.
Barloworld has delivered what it calls a pleasing annual performance. The diversified industrial group posted a 5.5% increase in headline earnings per share from continuing operations, citing strategy execution and better-than-expected trading. Business Day TV spoke to Group CEO Dominic Sewela for more detail.
Astral has taken a R2.1 billion hit on the back of costs associated with power cuts, water shortages and the recent avian flu outbreak. As such, profits came under pressure, resulting in the chicken producer reporting its first annual loss in its 23-year history. Business Day TV caught up with company CEO Chris Schutte for further insight on the performance.
PPC has returned to profit. The cement maker has posted headline earnings per share of 26 cents for the half year, from a loss of 5 cents previously. The results follow an improved performance across its markets despite a difficult trading environment. Business Day TV unpacked the results with PPC's CEO Roland van Wijnen.
Herenya Capital founder, Petri Redelinghuys provides technical analysis on FirstRand, Richemont and Alibaba.
Business Day TV spoke to Ridle Markus, SSA Macroeconomist at Absa CIB about consumer inflation data released by Nigeria, Botswana and Ghana.
Sasol had to cancel its AGM following disruption by protesters. Business Day TV spoke to Energy Writer for Business Day, Denene Erasmus for more detail.
Omnia has posted a 4% drop in interim profit due to lower fertiliser prices. Business Day TV unpacked the performance with the group's CEO Seelan Gobalsamy.
Emira Property Fund has been hit by a triple whammy. During the interim period the property company had to deal with the effects of the sale of Enyuka Property Fund, high interest rates and downbeat income from its US investments. This resulted in an 18% decline in distributable earnings. Business Day TV unpacked the numbers with company CEO, Geoff Jennett.
Investec has reported an increase in its interim headline earnings per share of just over 15%, citing higher loan volumes, corporate deposits and funds under management. Business Day TV spoke to CEO Richard Wainwright for more detail.
Life Healthcare's shareholders are in for a bumper payday once the firm manages to sell its UK-based diagnostic imaging services subsidiary Alliance Medical Group. Business Day TV caught up with Life Healthcare CEO Peter Wharton-Hood to discuss what still needs to happen with regards to that transaction and he also gave insight into the company's annual financial results.
Transnet's failings have pushed companies to make use of trucks with the number of trucks on South Africa's roads climbing 48%. But, road freight comes with its own challenges. To unpack the detail of the story, Business Day TV spoke to Financial Mail's Money Editor, Giulietta Talevi.
Dipula Income Fund has reported an 1.8% increase in net property income and in an improvement in vacancy levels but this did not filter through to the REIT's bottom line as distributable earnings fell 6.9%. Business Day TV caught up with the company's CEO, Izak Petersen for further insight on the full-year performance.
South Africa’s retail sales rose 0.9% in September, after nine consecutive months of decline. The increase was largely driven by higher sales of textiles, clothing, footwear and leather goods. Business Day TV unpacked the print with Siobhan Redford, Economist at RMB.
MultiChoice has reported a 1% drop in interim revenue and a 5% fall in core headline earnings, citing foreign exchange volatility and consumer pressure. Business Day TV spoke to the Group CFO Tim Jacobs for more detail on the performance.
Business Day TV caught up with Daniel Kavishe, Africa Economist at RMB for a closer look at the changes in Kenya's tax regime and whether those efforts are bearing fruit for the East African nation.
The Competition Commission's foreign exchange case is back in court, with the banks charging that the commission must show that all 28 institutions were part of the alleged conspiracy to manipulate the rand before the case can go ahead. Business Day's Editor-At-Large, Hilary Joffe has been closely following the developments and spoke to Business Day TV about the details of the case and its implications.
Sasol has faced shareholder pushback for its perceived lack of clarity on greenhouse gas emissions. Business Day TV spoke to Graeme Körner from Körner Perspective about his expectations for Sasol's upcoming AGM.
Growing demand in the self storage space has worked in Stor-Age's favour. During the interim period the group recorded a 2.2% increase in its dividend per share, boosted by a 16.9% jump in property revenue. Business Day TV unpacked the company's results with CEO Gavin Lucas.
Recent media reports suggest that South African farmers that fail to meet BEE requirements may face export restrictions to the EU and UK but industry bodies have refuted these claims. Denene Eramsus, Business Day writer joined Business Day TV to discuss this in greater detail.
The African Continental Free Trade Area agreement is hailed as the biggest free trade accord in the world. As trade agreements start taking shape on the continent, Michael Muhangi, Head of Trans-Regional Clients, Africa Regions for Business and Commercial Banking at Standard Bank Group joined Business Day TV to explore the opportunities linked to continental integration and how financial institutions need to position themselves to fund intra-Africa trade.
South Africa’s labour market registered 399,000 additional jobs in the third quarter. With nearly 17 million people employed during the period, the official unemployment rate now sits at 31.9%, down from 32.6% previously. Business Day TV unpacked the print in greater detail with Nthabiseng Moleko, Economist at Stellenbosch Business School.
Altron's reported improved half-year revenue and profitability from continuing operations. Business Day TV spoke to the firm's group CEO, Werner Kapp, to unpack the company's interim performance.
Raubex has reported double-digit profit growth in the six months to August. The firm says this is largely due to the diversity of its operations which helped it weather difficult macroeconomic conditions. Business Day TV caught up with Raubex CEO, Felicia Msiza for more detail.
Africa's telecoms sector is expected to grow at an annual growth rate of 4.6%. To discuss what will drive this growth and for a closer look at the opportunities and challenges for industry players, Business Day TV spoke to Arthur Goldstuck from World Wide Worx.
The department of home affairs has proposed that the government review the international treaty concerning refugee protection as it proposes the biggest overhaul of South Africa's immigration in a generation. To unpack the detail of the potential changes, Business Day TV spoke to Companies and Markets Editor at Business Day, Kabelo Khumalo
Vodacom has reported a drop in its interim operating profit as it's had to shoulder the start-up losses of its operations in Ethiopia but the mobile phone operator says its investments there will pay off. Business Day TV spoke to the firm's CEO Shameel Joosub for more detail.
Revenue from South Africa, Kenya and Ghana’s entertainment industry is projected to grow at a 5.5% compound growth annual rate between now and 2027. That’s according to PwC’s latest Africa Entertainment & Media Outlook 2023–2027 report. The company’s Africa Entertainment and Media Leader, Alinah Motaung joined Business Day TV for more insight into the report and its findings.
The Judicial Service Commission has come under fire for not appointing qualified candidates for Supreme Court of Appeal seats. The JSC sought to recommend candidates to fill judicial vacancies at the SCA, the Gauteng High Court, the labour court and others but it has only recommended two names for the SCA’s four vacancies. Business Day TV spoke to Tauriq Moosa, a legal writer for Business Day for more detail.
Business Day TV speaks to Tarris Arnold, Business Development Manager at Luno, about the activity playing out in the crypto scene.
Ford is investing over R5 billion at its Silverton plant in South Africa. The funds will go towards building the country's first ever plug-in electric hybrid Ranger. Business Day TV caught up with the President for Africa at Ford Moter Company, Neale Hill for further insight on these plans
We unpack the aftermath of the 2023 AGOA forum, delving into the possibility of an improved AGOA from the U.S. We explore the impact on both the U.S. and Africa, touching on issues like human rights and geopolitical intricacies. Dr. Gideon Chitanga from Wits University's African Centre for the Study of the United States shares insights on diverse perspectives, including calls for early renewal and the uneven benefits across the continent.
Roughly a month post protests in Ghana against the cost-of-living crisis, inflation has eased to a year low of 38%. The West African nation has also reached a staff-level agreement on the first review of a $3 billion loan programme paving the way for a disbursement of $600 million. Leeuwner Esterhuysen, Economist at Oxford Economics Africa joined Business Day TV with his outlook on Ghana's economy
The Public Protector House in Pretoria, marked by remnants of Busisiwe Mkhwebane's controversial tenure, reflects a tumultuous past. As Advocate Kholeka Gcaleka steps in, questions arise about her alignment with predecessors Thuli Madonsela or Mkhwebane. The youngest in the position, Gcaleka faces scrutiny over her political journey and proposed office reforms. Natasha Marrian from Financial Mail spoke with Business Day for an in-depth discussion on leadership expectations.
Tough trading conditions and an underwhelming Chinese recovery have weighed on Sappi. In this environment the paper and packaging group posted a near 62% decline in headline earnings per share but its maintained its dividend at 15 cents. Business Day TV unpacked the results in greater detail with company's CEO, Steve Binnie.
Monetary policy has tuned investor sentiment, leading to various sharp movements in ETF and the bond markets. Business Day TV spoke to Kelin Pottier, Solution Strategist at 10X Investments, for more detail on the investment trends being observed.
Lesaka Technologies has delivered an improved first quarter performance. The firm has posted a 19% rise in revenue and managed to narrow its net loss by 42% to R105 million. This was boosted by its fintech business. Business Day TV spoke to CEO Chris Meyer for more insight.
MTN is planning to leave Afghanistan by the end of the year as part of its larger strategy to withdraw from the Middle East area, which includes countries like Syria, Yemen, and Iran. Afghanistan represented 2% of MTN's customer base, and there are ongoing discussions regarding the possibility of exiting smaller operations in West Africa. Business Day TV spoke to Business Day's Technology Correspondent, Mudiwa Gavaza for more detail on MTN's strategic changes.
As the world’s second most populous continent, Africa’s adoption of digital technologies has been hailed as robust with the potential to drive economic growth and sustainability. Business Day TV spoke to Ciara McDonald Hefferman, Conference Producer for the Africa Tech Festival for more insight into tech’s role in driving sustainability in Africa.
Public hearings on the NHI Bill have been concluded. Medical aid schemes are still unhappy about Section 33 of the legislation which excludes the schemes. Business Day TV spoke to Alex van den Heever, Health Care Governance Expert from Wits University for his take on Section 33 of the Bill.
The rand has remained steady and hit a three-month high in November, as investors turned back to riskier assets after the Fed kept rates unchanged. Business Day TV unpacked the moves playing out in the currency scene with RMB's Forex sales trader, Keenan Moses.
According to the World Gold Council, gold demand has reached a new record in the third quarter, largely driven by central bank buying. John Reade, the World Gold Council’s Chief Market Strategist joined Business Day TV with more detail on the findings of the third quarter gold trends demand report.
The ANC is contemplating a significant shift in how local government operates, moving towards a more collaborative leadership approach. This decision coincides with the ANC's intention to end its partnership with the EFF, which has sparked worries among both investors and opposition party members. Business Day TV unpacked this political landscape in greater detail with Financial Mail's Natasha Marrian.
Business Day TV has been keeping track of the 20th US-SSA Agoa Forum. Philip Myburgh, Head of Trade, Business and Commercial Banking joined the channel with insight into the themes dominating conversations to fast-track trade between the regions.
The Medium-Term Budget Policy Statement has shed light on the critical fiscal challenges facing South Africa and the latest budget data paints a grim picture, due to a significant underperformance in revenue collections and soaring expenditure projections for 2023/24. Business Day TV unpacked the fiscal issues, and analysed their potential impact on South Africa's economic future with Gina Schoeman, Chief Economist and Head of Research at CEEMEA Economics, and Annabel Bishop, Chief Economist at Investec.
Karpowership SA has received environmental authorisation from South Africa's government to proceed with plans to moor floating gas power ships in the port of Richards Bay. The approval means the firm can kick-start the process of providing the economy with 1.2 gigawatts of much-needed electricity. Business Day TV spoke to Zeynep Harezi, COO of Karpowership for more detail.
Finance Minister Enoch Godongwana has outlined a stringent approach to state-owned enterprises in the latest Medium-Term Policy Budget Speech. He has tightened conditions for Eskom's debt relief and insists that a Transnet bailout depends on the government's new logistics sector roadmap. Business Day TV spoke to Hilary Joffe, Editor at Large for Business Day for more insight.
Bill Blackie, Chief Executive of Business & Commerical Banking at Standard Bank
joined Business Day TV with a business and commercial banking overview of the 20th
US-SSA Africa Growth and Opportunity Act forum.
Finance Minister Enoch Godongwana has delivered the medium-term budget policy statement and outlined a strategy that aims to narrow the budget deficit, stabilise debt and ensure fiscal sustainability. Business Day TV unpacked the business community's reaction to the MTBPS with Business Leadership South Africa's CEO, Busi Mavuso.
The airline industry has seen a steady recovery from Covid-19. According to data from the international Air Transport Association, total traffic reached over 90% of pre-pandemic levels this year as demand for air travel picked up. Business Day TV spoke to Marjan Rintel, the CEO of KLM Royal Dutch Airlines, for more insight.
Finance Minister Enoch Godongwana has presented the 2023 medium-term budget policy statement and has maintained Treasury's prudent stance of fiscal consolidation in the face of a revenue shortfall of R57 billion this year. Business Day TV unpacked the MTBPS with Sars Commissioner, Edward Kieswetter.
The Constitutional Court has delivered a verdict on South Africa's immigration law management, calling for swift protection of suspected illegal immigrants' rights and scrutinizing the Department of Home Affairs. The court says government must enact new immigration laws within a year, with high-ranking officials facing financial repercussions for their "deplorable lethargy." Business Day TV discussed this ruling in greater detail with legal writer for Business Day, Tauriq Moosa.
The Absa PMI has fallen deeper into contraction territory in October coming in at 45.4 index points from an upwardly revised 46.21 previously. The biggest drag on the reading came from the business activity index as weak demand persists. Business Day TV spoke to Andiswa Nondudule, Economist at Absa for her analysis of the print.
Octodec has reported a 2.2% drop in annual distributable income per share as the owner of properties in Johannesburg and Tshwane feels the pinch of elevated interest rates, inflation and greater energy and fuel costs. Despite this, the group has hiked its annual dividend by nearly 4%. Business Day TV unpacked the performance in greatrer detail with company's FD, Anabel Vieira.
Eskom has slipped deeper into the red. The power utility's annual loss has doubled to R24 billion, as energy sales declined 5% and costs relating to diesel to run open-cycle gas turbines jumped 50%. Business Day TV discussed the performance with Eskom's acting CEO, Calib Casim.
Finance minister Enoch Godongwana will present the 2023 medium-term budget policy statement in parliament tomorrow against a backdrop of low economic growth and high government debt. Business Day TV previewed the MTBPS with Siobhan Redford from RMB.
South Africa has long been punted as the gateway to Africa. Business Day TV explored this in detail with Frost & Sullivan consultant, Yaa Ngonyama and looked specifically at how the country's inclusion in the BRICS grouping as well as the advent of the African Continental Free Trade Act (AfCFTA) can help support this position.
Grindrod Bank is facing a R100m lawsuit over its alleged failure to report fraud. Business Day TV spoke to Business Day's companies and markets editor, Kabelo Khumalo for more insight into the intricacies of the story.
African leaders, US representatives, and the private sector will be gathering at Nasrec in Johannesburg on November 2 to attend The AGOA Business Forum. This forum will explore ways for Sub-Saharan African countries to build industrial capacity and regional value chains to take advantage of the African Growth and Opportunity Act (AGOA) – a trade programme initiated by the United States to foster greater economic ties with Sub-Saharan Africa by allowing preferential access to the US market through tariff-free exports. Standard Bank is a key sponsor of the forum and the bank's CEO for Corporate and Investment Banking, Kenny Fihla spoke to Business Day TV about the success and importance of AGOA ahead of the event.
Adcorp has weathered tough trading conditions. The workforce firm delivered a 10.2% rise in revenue and a 34% jump in headline earnings per share from continuing operations. The performance allowed it to hike its dividend by 31.9% to 16.1 cents. Business Day TV caught up with company's CEO, John Wentzel for a look at the half year that was.
South Africa will be looking to get more from its trade ties with the US, as the nation prepares to host the African Growth and Opportunity Act Forum. Business Day TV spoke to Stanlib's Chief Economist, Kevin Lings about how South Africa can capitalise on the AGOA Forum.
With their sights set on victory, the Springboks' relentless determination earned them a historic fourth championship, overcoming tough odds. In an intense final, they secured a 12-11 win against arch-rivals New Zealand, proving their indomitable spirit. Mark Keohane, the Sunday Times' rugby columnist, joined Business Day TV to discuss this remarkable achievement.
Cash-strapped South Africans have been advised to keep their spending in check amid the Rugby World Cup cheer. The advice seeks to ensure healthy spending habits amid a tough economic environment. Business Day TV discussed this with Consumer Financial Education Specialist at Momentum Metropolitan, Claire Klassen.
South Africa faces a financial conundrum, with a R459 billion reserve in the central bank. Deciding how to utilize this significant resource amid fiscal challenges and rising borrowing costs has become complex. Business Day TV spoke with Peter Bruce from Financial Mail who discussed the need to address South Africa's foundational economic issues for a lasting solution.
Africa has 54 diverse countries but there are similar retail sector trends that have emerged across borders. Business Day TV spoke to Marc Du Toit, Head of Retail at Knight Frank Uganda for more insights on those trends and how it’s shaping the future of the industry on the continent.
South African retailers are expected to ring up nearly R27bn in additional turnover this Black Friday. General dealers and clothing retailers will bag most of the gains, according to the Bureau of Market Research. Business Day TV spoke to Gerhard Le Roux, Head of Capital Growth at Capital Connect for more insight into the consumer retail market ahead of the big spending period.
Afrimat's diversification strategy is paying off. During the interim period the building materials and construction company delivered a near 10% jump in revenue and a 4.4% rise in headlines earrings per share. Business Day TV unpacked the numbers with company's CEO, Andries van Heerden.
The Middle East war has weighed on demand dynamics in the oil market, and consensus among experts is that global oil, gas and coal demand should peak by 2030. Business Day TV spoke to RMB's Commodities Trader Raymond Philips for more insight.
The crypto market rally is picking up pace, with Bitcoin surpassing the $30,000 mark. The positive momentum comes as investors digest upbeat developments on the Bitcoin ETF. Business Day TV discussed this with the South Africa Country Manager at Luno, Christo de Wit
Clicks has posted higher year-end profit. The retailer has reported an 11.5% rise in adjusted diluted headline earnings per share, despite a tough trading environment. Business Day TV spoke to Group CEO Bettina Engelbrecht for more detail on Clicks’ annual performance.
Illegal mining in South Africa has grown from a localized problem to a nationwide criminal syndicate, affecting the economy. Mining companies often downplay its extent. This issue prompts questions about governance, mining protocols and prevention measures. Business Day TV unpacked this complex issue with mining analyst, David Van Wyk and Tebello Chabana who is the Senior Executive for Public Affairs & Transformation at Minerals Council SA
Senegal was pegged to be one of Africa’s fastest growing economies in 2023, boosted by hydrocarbon projects. Several of these have been postponed weighing on that growth potential. Jacques Nel, Head of Africa Macro at Oxford Economics Africa joined Business Day TV for a closer look at the hydrocarbon ventures that have been delayed and how it impacts Senegal’s growth.
Specialist residential property developer Balwin is having a tough time navigating a trading environment characterised by high interest rates and elevated inflation which has led to fewer properties being sold and a 25% fall in interim revenue. Business Day TV unpacked the performance in greater detail with the company’s CEO, Steve Brookes
The Public Investment Corporation, with R2.6 trillion in assets, is under the leadership of CEO Abel Sithole, who is working to transform the organization after governance issues. Business Day TV delves into whether the PIC has overcome political influence challenges as well as its role in the financial landscape with Financial Mail's Rob Rose.
Foreign appetite for South African residential properties has picked up, with the Western Cape seeing the most of that demand. Business Day TV discussed the trend being observed with Hayley Ivins Downes, Head of Digital at Lightstone Property.
South Africa's manufacturing sector has been on a downward trend for 16 years, according to Stats SA, with the industry shedding almost 309,000 jobs over the period. So, what can get the cogs turning again? To find out Business Day TV spoke to Philippa Rodseth from the Manufacturing Circle.
The Deputy Governor of the South African Reserve Bank, Kuben Naidoo, has resigned, creating an opportunity for President Cyril Ramaphosa to appoint new leadership at the Reserve Bank before the 2024 elections. The resignation, while not officially confirmed by the Bank and the presidency, may come into effect in November. Business Day spoke with Editor At Large for Business Day, Hilary Joffe on this development and its potential implications for the MPC.
The income that Eskom and municipalities earn from electricity sales has taken a knock amid a rapid uptake of alternative energy solutions. Eskom meanwhile is exploring feed-in tariffs to overcome the potential losses. Business Day TV spoke to Tshepo Kgadima, Independent Economic & Energy Analyst about the move to alternative power, and the impact it has on the utility and consumers.
Higher costs weighed on Famous Brands half-year performance. Headline earnings per share fell 7.4%, as input costs rose due to load-shedding and a poor potato harvest. Business Day TV spoke to CEO Darren Hele for more detail.
South Africa's Road Accident Fund has put forward a new draft proposal Bill which seeks to exclude foreign nationals from claiming from the fund. Business Day TV spoke to Vusumuzi Sibanda, President of the African Diaspora Global Network, who argues that foreigners pay indirect taxes and should therefore not be excluded from the compensation fund if injured on SA's roads.
The Supreme Court of Appeal has invalidated a compensation proposal of R92 million for claimants seeking land restitution. This setback occurs in the context of South Africa's ongoing land reform initiative, which strives to return land to historically dispossessed communities. Business Day TV delved deeper into this ruling with legal writer for Business Day, Tauriq Moosa.
Kumba Iron Ore's sales for the third quarter fell 12% year-on-year, as the miner battled equipment breakdowns at the Transnet managed Saldanha Port. Anglo American Platinum meanwhile meantime posted a 9% fall in production during the period as load-shedding weighed. Business Day TV unpacked the data in greater detail with Mining Analyst, Peter Major.
Taming inflation has proven to be tough, with consumer prices accelerating to 5.4% in September. This has raised concerns about a possible interest rate hike next month, as inflation sits at the upper end of the Sarb's target range. Business Day TV caught up with Investment Strategist at Old Mutual Wealth, Izak Odendaal to discuss South Africa's monetary policy.
South Africa is set to overtake Nigeri and Egypt as the continent's largest economy next year, according to the International Monetary Fund. But SA is likely to only hold onto this top spot for a year. For more detail, Business Day TV spoke to Razia Khan from Standard Chartered Bank.
In a gripping rugby showdown, England and South Africa clashed in a high-stakes match, with England initially leading but the Springboks making a late comeback. This nail-biting action saw penalties, tries and scrum power deciding the outcome; leaving England's fate hanging in the balance. To discuss all the action, Business Day TV spoke to Sunday Times' rugby columnist Mark Keohane.
Smuggled explosives and blasting experts imported by criminal syndicates have become key enablers of crime in South Africa. At least one armoured car heist and one cash machine bombing takes place in the country every day, while explosives are also used in illegal mining. These activities cost the economy tens of billions of rand a year. Business Day TV discussed this in more detail with Willem Els from the Institute of Security Studies
During the second Green Hydrogen Summit, partnerships like Sasol, Amplats, and BMW collaborated on South Africa's first hydrogen vehicle, underlining green hydrogen's importance for decarbonization and Africa's potential leadership in its production. Business Day TV spoke to Patrick Prestele, a Consultant at Frost and Sullivan, spoke about Africa's green hydrogen opportunities.
South Africa's buy-now-pay-later sector boomed during the pandemic, and has a projected cumulative annual growth rate of 35% between 2022 and 2027. Business Day TV spoke to Happy Pay's CEO, Wesley Billett, about the industry's trends and its implications for the credit system.`
A2X, which began trading in October 2017, provides a secondary listing platform for companies. It has 170 listings, which includes firms like MTN, Absa, Naspers, Prosus, Business Day TV discussed the rise of the A2X stock exchange with CEO Kevin Brady.
It has been a tough year for equity markets globally and the JSE has felt the pressure as well, with the All Share falling 2.3% year to date. Business Day spoke to Anchor's Co-Chief investment officer, Nolan Wapenaar about where to invest in a volatile environment.
On this episode of the Big Idea, we take a look at the junior mining sector with mining analyst, Peter Major and Fred Arendse, the founder of the junior mining council.
Tunisia's president has sacked the country's economy minister after he stated that a deal with the International Monetary Fund would be vital for the country to obtain other foreign financing. President Kais Saied strongly opposes the terms of an IMF agreement, saying that the conditions will lead to protests. For more detail, Business Day TV spoke to Pieter du Preez, senior economist at Oxford Economics Africa.
US Senator John Kennedy is pushing for an extension of the African Growth and Opportunity Act |(AGOA) until 2045 in an effort to counter China's growing influence in the region. Business Day TV spoke to Business Day journalist, Thando Maeko for more perspective on the move.
High interest rates continue to squeeze household finances, according to the Altron FinTech Household Resilience Index, and this could weigh on spendding over the upcoming festive period and on popular shopping days like Black Friday. Business Day TV discussed this in detail with independent analyst, Roelof Botha.
South African retail Sales declined by 0.5% year-on-year in August. This marks the ninth consecutive month of decline in retail activity. Business Day TV discussed the print with RMB Economist, Siobhan Redford.
Pick n Pay has slipped into the red. The retailer has reported a headline loss per share at 138 cents, mainly due to increased competition and costs associated with load shedding. Business Day TV unpacked the retailer's interim performance with CEO Sean Summers.
Sun International has posted an 11.7% rise in interim income, with growth across all its operations as it benefited from a recovery in business travel. Business Day TV spoke to Sun International's CEO, Anthony Leeming, to unpack the performance and the group's outlook.
The African Union has been made a permanent member of the G20. This marks the first expansion of the bloc since its inception in 1999. The inclusion should give the AU the same status as the EU which is currently the only regional bloc with full membership. Business Day TV discussed the significance of the move with Everisto Benyera, African Politics Associate Professor in the Department of Political Sciences at Unisa.
By 2030, power utility Eskom will need to have invested at least R210bn to expand its transmission grid. This may be possible as international lenders have come forward offering multibillion-rand loans. But what's the catch? Business Day TV posed this question to Independent Energy Analyst, Tshepo Kgadima.
Herenya Capital founder, Petri Redelinghuys provides technical analysis on Thungela, Mr Price and FirstRand.
Former Johannesburg Mayor Herman Mashaba in the wake of a devastating fire at 80 Albert Street, has raised pressing questions about the necessity of a commission of inquiry give that this is not the first tragedy of this nature in the city and the challenges are well known by officials. The fire tragically claimed the lives of at least 77 individuals, casting a harsh spotlight on enduring challenges like building hijackings and governmental neglect. For more on the story, Business Day TV spoke to Financial Mail's Rob Rose.
TransUnion's third quarter Consumer Pulse Study shows that shoppers are optimistic about their financial futures despite higher interest rates and high levels of unemployment. Business Day TV unpacked the print with Weihan Sun, Director of Research and Consulting at TransUnion Africa.
South Africa's largest life insurance group Sanlam has posted a 118% jump in half year headline earnings per share as it benefitted from lower death claims. Business Day TV spoke to Abigail Mukhuba, Financial Director at Sanlam for more insight.
Perceptions of an improving economic outlook boosted South Africa's consumer confidence in the third quarter. But the reading is still well below the long-running average, signalling a lack of willingness for South African consumers to spend. Business Day TV unpacked that print with FNB Chief Economist, Mamello Matikinca-Ngwenya.
During a recent briefing to Parliament's Standing Committee on the Auditor-General, it was revealed that in the 2021/2022 financial year, South African municipalities racked up R4.74bn in fruitless and wasteful expenditure. This alarming figure underscores the challenges facing local governments, including inadequate skills, financial constraints, governance issues, and a lack of accountability. Business Day TV unpacked the critical role of municipalities in SA and the impact of their dysfunctionalities; from political instability to the politicization of service delivery with Group Chief Advisor for Ntiyiso Consulting , Miyelani Holeni and Research Professor at Wits University, Mike Muller.
Most regional leaders have snubbed President Emmerson Mnangagwa's inauguration this week amid a scathing preliminary report by the SADC observer mission, led by Zambia's former VP Nevers Mumba on the recent polls. Business Day TV spoke to Louw Nel, Senior Political Analyst at Oxford Economics Africa for more insight.
Zimbabwe's recent re-election of President Emmerson Mnangagwa has garnered attention and sparked discussions among citizens. According to reports from the Financial Mail, there is a growing consideration among Zimbabweans to move to South Africa, driven by various factors, including economic challenges in the country. Business Day TV spoke to Financial Mail's Shirley de Villiers about the potential impact of this migration on South Africa's stability and labour market.
Last month the Energy Bounce-Back Loan Guarantee Scheme was launched to help ease the impact of load shedding, but South Africa is still in the throes of stage 6 rolling blackouts. So just how effective can we expect this scheme to be? Business Day TV spoke to Willie Cronje, Professor in the Electricity and Information Engineering Department at Wits University for his take.
According to the BER Price/Income Elasticity study, beer prices have increased more than any other type of categories in the liquor market. Business Day Tv caught up with the CEO of South African Breweries, Richard Rivett-Carnac and unpacked the state of the beer economy.
Investors are positive on the global ETF market, expecting the industry to triple in the next decade. Business Day TV caught up with Michelle Noth, Head of Financial Intermediaries at 10X Investments for further insight of the factors driving growth in that market.
Business Day TV pays tribute to the C-suite executives of most South African homes, the gogos. We look into the benefits of bridging the technological gap between South Africa's youth and gogos.
The first ever Africa Climate Summit has wrapped up and NGO, Fossil Free SA has highlighted some concerns about the conference. Business Day TV spoke to the body's co-ordinator, David Le Page for more insight.
The RMB/BER Business Confidence Index has regained some ground in the third quarter with a reading of 33. That's from 27 in the second quarter.
But despite the improvement, sentiment is still very weak. To discuss this in more detail, Business Day TV spoke to RMB's Isaah Mhlanga.
Volkswagen has revealed its latest innovation - an electric GTI. The motoring brand is said to have produced a dynamic blend of cutting-edge exterior design, a high-tech interior as well as a thrilling electric performance. Business Day TV spoke to Phuti Mpyane, Senior motoring correspondent for Business Day for more detail.
The Industrial Development Corporation of South Africa (IDC) is offering a R3 billion credit facility to eligible non-bank intermediaries, to expand its funding reach to black-owned small, medium and micro enterprises (SMMEs), and help address the funding challenges faced by many small businesses. Business Day TV spoke to Sonja Loggenberg, Head of Partnership Programmes at the IDC for more detail.
South African bonds have taken a knock, as sentiment on emerging market assets soured over the past month on the back of Chinese growth fears. Business Day TV caught up with Bond Trader at RMB, Michelle Wohlberg for more insight.
Shoprite has weathered challenging trading conditions. During the annual period the retailer delivered a near 17% jump in sale of merchandise which translated into a 9.6% increase in headline earnings per share. Business Day TV unpacked the annual performance with CEO, Pieter Engelbrecht.
Africa's inaugural climate summit is underway in Kenya. Leaders and industry players are meeting to find African solutions to the climate crisis amid the global net-zero emissions journey. Business Day TV spoke to Josephine Wawira from the Kenya Private Sector Alliance for more detail on the agenda at the summit.
South Africa's economy managed to eke out growth 0.6% in the second quarter. This against analyst expectations of
a 0.3% lift. The expansion was mainly driven by a 2.2% growth in the manufacturing sector during the period. Business Day TV unpacked the print in greater detail with Kevin Lings, Chief Economist at Stanlib.
The IMF has warned that South Africa's interest bill on its growing public debt could triple the size of its health budget within five years, and it is projecting a rise in government debt from 19% to 27% by 2028. Despite this, the IMF assesses South Africa's risk of debt distress as 'moderate' due to its robust financial markets and strong monetary policy. Business Day TV spoke with Business Day's Editor-At-Large Hilary Joffe who gave further insight on the projection.
Lower production and weaker commodity prices weighed on African Rainbow Minerals' earnings. The diversified miner's annual headline earnings per share fell 21% and it's lowered its dividend by 40%. Business Day TV spoke to Group CEO Phillip Tobias for more detail.
Sea Harvest has reeled in profit growth during its half year. The fishing group has posted a 19% increase in headline earnings per share, as it benefited from strong demand for its products which helped it push through higher prices. Business Day TV spoke to Group CEO Felix Ratheb for more insight on the results
Bidvest has delivered upbeat profit growth, with annual headline earnings per share rising 24.5%. This comes as the industrial conglomorate recorded growth across all of its seven divisions. Business Day Tv caught up with company's CEO, Mpumi Madisa for further insight on the group's full-year performance.
Unam Capital's Loyiso Mpeta provides a QuanTech mental analysis on Blue Label, Prosus, Pepkor, Sibanye Still-Water and Motus.
Technology is changing the face of various jobs and how we go about creating them. Business Day TV explored the relationship between job creation and technology adoption in Africa in greater detail with Sisoke Mgwebi, Consultant for Frost & Sullivan.
The South African government is exploring partnerships with foreign entities to grow its electric vehicle manufacturing sector; with a focus on sustainability, as highlighted by Minister Ebrahim Patel at a recent conference. Deputy Finance Minister David Masondo also hinted at an upcoming EV-related support package to be announced in October. Business Day TV spoke with Financial Mail's David Furlonger who discussed the development of the sector.
The full report related to the docking of Russian cargo vessel, Lady R which sparked diplomatic issues between South Africa and the U.S will not be made public. Civil society organisation, OUTA has in the meantime, called for transparency on this issue. Business Day TV spoke to OUTA CEO, Wayne Duvenage for his take on where things are at.
In a recent competition commission investigation, South African e-commerce giant Takealot finds itself disappointed with the outcome. The Competition Commission has called for the company to split its marketplace and retail businesses; citing concerns about favouritism and the need for a level playing field for small and black-owned businesses. To unpack the story in more detail, Business Day TV spoke to Technology Correspondent for Business Day, Mudiwa Gavaza.
Impala Platinum's annual performance took a knock. During the period the miner had to contend with higher costs, lower mental prices and write-downs and those contributed to a 43% drop in headline earnings per share. Business Day TV discussed the performance with CEO Nico Muller.
With unemployment currently at a staggering 32.6%, the need for effective employment strategies is urgent. Business Day TV discussed this with the CEO of YES, Ravi Naidoo and independent economist, Duma Gqubule.
Experts have drawn connections between economic growth issues and how it fuels coups. To unpack this in detail, Business Day TV caught up with Pieter Scribante, Political Economist at Oxford Economics Africa.
In a comprehensive report that sheds light on a critical aspect of corporate integrity, Financial Mail has taken a closer look at the case of EOH; a company that has faced a tumultuous journey marked by allegations of corruption and mismanagement. Business Day TV discussed the detail with Marc Hasenfuss from Financial Mail.
Santam has more than doubled its interim profit. South Africa's largest short term insurer has posted a 146% surge in headline earnings per share, despite adverse weather conditions during the period which drove up claims. Given the strong performance, Santam has upped its dividend by 7%. Business Day TV spoke to the company's CFO, Wikus Olivier for more detail.
High finance costs and increased levels of load-shedding have weighed on KAP Industrial. The industrial, chemicals and logistics group recorded a 43% plunge in headline earnings per share. Business Day TV caught up with the company's CEO Gary Chaplin for greater analysis on the annual performance.
BidCorp has weathered tough economic conditions. During the annual period the international food services group delivered a 33.4% increase in revenue and a 35.4% jump in headline earnings per share. Business Day TV unpacked the company's performance with CEO Bernard Benson.
Aspen posted a 4% drop in annual profit, impacted by higher inflation and a drop in COVID-19 vaccine sales. Business Day TV discussed the results with Group CEO Stephen Saad.
Higher operating costs and inflation heavily impacted Cashbuild's annual performance. The building materials retailer has reported a 56% plunge in annual operating profit and has cut its dividend by 42% . Business Day TV unpacked the performance with CEO Werner de Jager.
Stadio's mid-year report boasts strong growth and profitability. During the first semester, student numbers increased by 9% with profit
jumping more than a fifth. Business Day TV unpacked the performance with the group's CEO, Chris Vorster.
Harmony Gold is back in the black. The yellow metal miner has posted a $275m profit for the year to end June from a net loss of $48m in the prior period. The swing was supported by increased output and better grades at some of its underground mines in South Africa. Its flagship Mponeng mine was a particular standout with production there jumping 22%. Business Day TV spoke to the CEO of Harmony Gold, Peter Steenkamp for more insight.
Motus' full-year revenue has accelerated by 16% due to positive contributions from all the automotive group's business segments. But the momentum failed to filter down to the bottom-line as headline earnings per share grew a tepid 1%. Business Day TV spoke to the company's CEO, Osman Arbee for more detail.
Super Group's diversification strategy has given it a boost. During the full-year period the logistics company reported a 30.6% jump in revenue while headline earnings per share came in 23.3% higher. Business Day Tv spoke to the company's CEO Peter Mountford, about the annual performance.
The Democratic Alliance (DA) is expected to put forward a motion calling for fresh elections at this week's council meeting. The DA believes the dissolution will give voters a chance to elect a new, 'more stable' city council. Belinda Kayser-Echeozonjoku, DA Caucus Leader in City of Johannesburg joined Business Day TV to unpack this decision.
Zimbabwean opposition party, United Zimbabwe Alliance has condemned the manner in which the overall election took place. Business Day TV spoke to the party's president Elisabeth Valerio for more insight.
Transnet is suing Sasol and TotalEnergies for R1.3bn. The state-owned freight and ports company is accusing the firms of short-paying tariffs. Business Day TV unpacked the story in detail with Business Day's Kabelo Khumalo.
Master Drilling says it's had an excellent start to its 2023 financial year. The rock boring and drilling specialist has delivered a 12% jump in revenue for the six months to end June and an 8% rise in profit. Business Day TV drilled into the performance with the group's CFO, André van Deventer.
Italtile says its annual results have failed to meet the firm's expectations but it believes it has delivered a solid performance under very difficult circumstances. Business Day TV unpacked the details of the company's results with CEO Lance Foxcroft.
AdvTech has posted a 24% jump in half-year headline earnings per share as it continues to see strong demand for private education. Business Day TV discussed the results with the firm's CEO, Roy Douglas.
Business Day TV speaks to Founder of Herenya Capital Petri Redelinghuys for his trade of the week.
Following the 15th BRICS Summit, Business Day TV caught up with David Monyae, Director of the Centre for Africa-China Studies at UJ for his take on the impact of China's aid and investment policies on African countries and what a deeper relationship between the parties means for the continent at large.
Amidst the flow of funds from the Treasury to fulfil Eskom's R254bn debt relief plan, a looming challenge lies in the escalation of outstanding debt owed by local municipalities; threatening the power utilities' financial stability. Business Day TV spoke to energy writer for Business Day, Denene Erasmus for more detail.
The Southern Africa Telecommunication Networks and Applications Conference, known as SATNAC is underway with industry giants and innovators gathered to focus on some of the latest developments in the global ICT space and right now it's all about Artificial Intelligence. To discuss the topic in detail, Business Day TV spoke to Mmaki Jantjies, Group Executive for Innovation and Transformation at Telkom.
The African Continental Free Trade Agreement has been lauded as the biggest free trade accord in the world. The agreement aims to boost intra-Africa trade by 60% as of next year. Unlocking trade and investment was a key focus at the 15th BRICS Summit this week. Business Day TV caught up with Stavros Nicolaou, Head of the BRICS Business Council at the event for more insight on how SA can leverage off the agreement.
The BRICS bloc of developing nations has concluded its 15th summit. Business Day TV spoke with reporter Ntaoleng Lechela and explored some of the pivotal discussions held at the summit this included a look at the bloc's expansion plans, currency shifts, and collaborative efforts toward a more inclusive global economy.
Grindrod has posted a 26% jump in interim core headline earnings as strong demand for logistics solutions offered a boost. The group saw its Maputo port increasing volumes by 30% during the period while its Mozambique dry-bulk terminals in Maputo grew volumes by 17%. Business Day TV unpacked the performance in greater detail with the company's CEO, Xolani Mbambo.
Growth in Africa's key commodities came under pressure this year amid heightened geopolitical frictions and China's slow post-Covid recovery but the outlook has brightened with world growth set to pick ups and as supply chain and energy bottlenecks ease. Business Day TV discussed the outlook for Africa's commodities market with Vinesh Chetty, Head of Energy Commodities at Afriforesight.
Unemployment in South Africa is at a staggering 32.6%, casting a spotlight on the urgent need for effective employment strategies. This reality compels us to hold a magnifying glass to the essential components of successful employment programs as well as examine the role of government and the private sector partnerships. Business Day TV did this with CEO of YES, Ravi Naidoo and Independent Economist, Duma Gqubule.
Cocoa prices are soaring and while this is bad news for chocolate makers, the outcome for cocoa producers is sweet. Leeuwner Esterhuysen, Economist at Oxford Economics Africa discusse dhis outlook for the cocoa market and what this means for West Africa given that the region grows 70% of the world's cocoa.
Amidst the aftermath of the pandemic, South Africa's tourism sector is experiencing a revival. Club Med plans to build its first South African resort in KwaZulu-Natal. The move is being taken as a signal for renewed investor interest in local travel and tourism. The decision also comes despite challenges like load-shedding and high interest rates. Business Day TV spoke to Financial Mail's Giulietta Talevi for more detail.
With the BRICS summit underway, the spotlight has been put on relations between China and South Africa. Business Day TV reporter, Ntaoleng Lechela unpacked this in more detail in this report.
Day 2 of the 15th BRICS Summit kicked off at the JSE, with a focus on the role of capital markets in driving sustainable economic growth. Business Day TV reporter Ntaoleng Lechela, spoke to Gauteng MEC for Economic Development, Tasneem Motara on the sidelines of the Summit.
Sasol has posted a 65% slide in earnings before interest and tax and has lowered its final dividend by 32%. The energy and chemicals business had to shoulder asset writedowns during its annual period, and had to contend with a softer brent crude oil price. Business Day TV unpacked the performance with Group CEO, Fleetwood Grobler.
Tailings retreatment group, DRDGold has produced a 13% rise in headline earnings per share thanks to a higher gold price which helped offset a fall in output and sales. Business Day TV dug into the performance with the company's CEO, Niel Pretorius.
With the 15th BRICS Summit underway, Business Day TV reporter, Ntaoleng Lechela provides an update on the ongoing events at the conference.
We look closely at the ongoing 15th BRICS Summit and its role in driving global progress for member nations and emerging markets with Editor at Large for Business Day, Hilary Joffe. She spoke to Business Day TV about the potential for new BRICS members, trade and investment prospects, the de-dollarization trend, and strategies for South Africa to sustain its significance within the alliance.
Spur has posted an 80% jump in annual earnings per share. The restaurant group says growth was supported by its resilient business model. Business Day TV discussed the performance with CEO Val Nichas.
Nigeria's inflation sat at an 18-year high of 24.1% in July, largely driven by food and transport increases. Citizens have taken to the streets in protest against the cost-of-living crisis which has been exacerbated by the removal of the fuel subsidy. Business Day assessed Nigeria's price pressures in greater detail with Ridle Markus, SSA Macroeconomist at Absa CIB.
Hot on the heels of the 15th BRICS Summit President Ramaphosa announced that South Africa's load-shedding woes will end next year. The BRICS Bank in the meantime has committed to assist South Africa with its energy crisis. Mamiki Matlawa, Business Development Executive of ACTOM, a supplier of electrical equipment, is in attendance at the event, and Business Day TV spoke to her about the state of the country's manufacturing sector and its role in securing the continent's energy future.
Business Leadership South Africa (BLSA) has slammed the delay of the Electricity Regulation Amendment Bill. BLSA says the bill, which is facing administrative hurdles after gaining cabinet approval in March,
is central to the joint efforts of business and government to solve the electricity crisis. Business Day TV spoke with Linda Ensor from Business Day who provided further insight.
Downbeat coal prices and rail issues have hit Thungela Resources. During the interim period the miner reported a 67% plunge in headline earnings per share, this resulted in an 83% decline in its dividend. Business Day TV unpacked the company's half-year performance report with CEO, July Ndlovu.
New learner enrollments have boosted Curro's profits. The private schooling group has posted a 3% rise in learner numbers and a 36% jump in recurring headline earnings per share. Despite the performance, Curro's board has decided to withhold half-year dividends. Business Day TV spoke to Curro's CEO Cobus Loubser, for more detail on the group's performance.
In Trade of The Week, Unam Capital's Loyiso Mpeta Loyiso Mpeta provides quantechmental analysis on Barloworld, Mondi, Mondi, Anglo American, Bidcorp and Investec.
With over 800 million mobile subscribers, Africa's ground is rich for establishing startups in the tech sector but the continent's startup ecosystem is still in its early stages. Founders Factory Africa has secured $113 million to help accelerate tech startup growth on the continent. Business Day TV spoke to Bongani Sithole, CEO of Founders Factory Africa for more insight on how to grow tech startups.
The BRICS summit will take place in Johannesburg on 22 August, under the theme 'BRICS & Africa'. Governments and leaders of 40 nations will be in attendance, discussing amongst others, equitable development, education transformation and African trade empowerment. Business Day TV's reporter, Ntaoleng Lechela discussed the outlook and development agenda of the summit.
Seven political parties have joined forces to form the Multiparty Charter of South Africa. The coalition is aimed at toppling the ANC in the 2024 national election. Business Day TV spoke to Political Analyst, Ongama Mtimka for his assessment of the body and its chances of success in the election.
Cell C, the fourth-largest mobile operator in SA, is still battling a number of serious difficulties. Those being complex debt restructuring challenges, subpar performance, and a high CEO turnover rate. Business Day TV spoke with Business Day's Technology Corresponded, Mudiwa Gavaza who unpacked Cell C's challenges
America's regulatory crackdown on the crypto currency market has caused Bitcoin to drop to a two-month low. Business Day TV spoke to Christo de Wit from Luno for an in-depth assessment of the crypto currency market.
Lower thermal coal prices, logistics challenges and lower Eskom offtake weighed on Exxaro's interim performance. The miner's posted a 15% drop in revenue and that contributed to a 32% profit plunge. Business Day TV spoke to Group CEO, Nombasa Tsengwa for more insight on Exxaro's results.
Standard Bank has reported a profit bump, amid rising credit impairments. During the interim period the lender delivered a 34% jump in headline earnings per share, as it recorded growth across all of its units. Business Day TV spoke to the company's CEO, Sim Tshabalala.
Amid South Africa's load-shedding crisis that's affecting GDP-driving key sectors, the economic performance of the country is in focus, with a look at the manufacturing, mining, retail, agriculture along with insights into inflation and the latest GDP figures. Business day TV spoke with Independent Economist Elize Kruger AND Chief economist at Investec, Annabel Bishop who gave expert analysis on the country's economic performance.
Post the devastation of Cyclone Freddy, Mozambique's economy is on the mend. The East African nation grew 4.67% in the second quarter and is still betting on its LNG prospects for further improvement. Business Day TV assessed the state of Mozambique's economy with Gerrit Van Rooyen Economist at Oxford Economics Africa.
Gold Fields' interim profit has declined 11%. This as the miner had to contend with lower sales and production during the period. Despite this, the company has raised its interim dividend by 8.3% to 325c per share while keeping its full-year guidance unchanged. Business Day TV spoke to company's interim CEO, Martin Preece for his take on the performance.
Business morale has edged lower. In July the Sacci Business Confidence Index declined by 1.5 index points to 107.3. This as businesses struggle with power outages, slow growth and the impact of the Russia-Ukraine war on commodity prices. Business Day TV unpacked the print in greater detail with Mtho Xulu, President of Sacci.
The International Monetary Fund has flagged a potential growth rate of 3% for South Africa, if the country tackles its structural issues. Business Day TV spoke to Max Alier, Resident Representative of the IMF, for more detail.
The local unit is taking strain, and is trading above the R19 mark against the dollar. The performance has mainly due to international factors like the stronger dollar and the health of the Chinese economy. Business Day TV caught up with Forex Structurer from RMB for more detail on the currency scene.
The Central Bank of Kenya recently retained its interest rate at 10.50%. In the same region, Mozambique has received a credit rating upgrade from Moody's while Fitch did the same for Zambia. Business Day TV unpacked these developments with RMB's Africa Economist, Daniel Kavishe.
As South Africa faces an intensifying energy crisis and increased spending on solar panels and energy storage imports, it appears that the move towards renewable energy is gaining momentum. This shift, however, has highlighted a growth gap in the local manufacturing industry. Energy Writer for Business Day, Denene Erasmus spoke to Business Day TV about how South Africa is losing out on its on renewables boom.
Richard Spoor Attorneys is launching a class action lawsuit on behalf of coal mineworkers, as a number of coal workers suffer from coal mine dust lung disease and associated diseases. South32, BHP and Seriti Power are the targets of the action but the same is about to follow for Exxaro, Glencore and Anglo Coal. Business Day TV spoke to Richard Spoor, Human rights attorney at Richard Spoor Attorneys for more detail on the case.
The Stats-SA Quarterly Labour Force Survey reports that SA's jobless rate edged lower in the second quarter, now sitting at 32.6%. Business Day TV discussed how South Africa can create a pipeline of skills leading to future emerging jobs for its workforce with Mapule Ncanywa, Chair of the BRICS Business Council Skills Group.
HomeChoice has hiked its interim dividend, lifting it by 9.3%. This comes despite reporting flat revenue and profits, with headline earnings per share coming in just over 143 cents. Business Day TV unpacked the numbers with the company's CEO, Sean Wibberley.
Half of the African continent remains unbanked. This presents an opportunity for digital banking to grow on the continent given that
card payment infrastructure is lacking while mobile phone penetration is higher. Business Day TV spoke to Sisonke Mgwebi, Consultant at Frost & Sullivan for more insight on the rise of digital banking in Africa
Amid a prolonged legal battle, Capitec's bid to deduct the VAT that's tied to its loans and insurance policies is still under SARS' scrutiny. The bank warns that the Constitutional Court's possible verdict of favouring SARS could ripple through the banking sector, affecting credit availability and consumers. Kabelo Khumalo, Business Day's Company and Markets editor unpacked this in greater detail with Business Day TV.
South Africa's jobless rate improved slightly in the second quarter, falling to 32.6% from to 32.9% previously as five of the nine sectors monitored by Stats SA recorded employment gains during the period. Business Day TV unpacked the print in greater detail with Independent Economist, Duma Gqubule.
Despite operating in a tough macroeconomic environment, MTN has delivered a rise in profit. During the interim period Africa's largest mobile operator reported a 7.1% increase in headline earnings per share. Business Day TV caught up with the company's CFO, Tsholo Molefe to discuss the numbers and the recent investment in MTN's fintech unit.
Absa has posted a near 3% rise in interim profit despite a rise in impairments. Elevated interest rates and higher inflation contributed to a jump in bad debts, with the bank recording a 70% surge in credit card impairments in the six months to end-June. Business Day TV spoke to Absa's Group Financial Director, Jason Quinn for more detail on the performance.
Founder of Herenya Capital, Petri Redelinghuys provided tech analysis on Woolworths, Richemont and Gold Fields.
According to UNESCO, 9 million girls between the ages of 6-11 years in Sub-Saharan Africa will never attend school compared to 6 million boys in that age category. Business Day TV spoke to Owen Skae, Director of Rhodes' Business School about bridging the education gap on the continent.
Former president Jacob Zuma will not return to prison after he was granted a remission of sentence. The remission sentence that Zuma qualified for is granted to 'low-risk' offenders and was introduced during his presidency in 2012. Business Day TV spoke to Sunday Times Reporter, Unathi Nkanjeni for more detail.
Absa's interim headline earnings per share rose by just 3%, as the lender battled the effects of higher interest rates and inflation which ultimately led to a 60% jump in credit impairments. Despite the performance, the group has upped its interim dividend by 5%. Business Day TV unpacked the performance in greater detail with Kokkie Kooyman, Banking Analyst at Denker Capital.
Angola has some of the biggest untapped oil and gas reserves on the African continent. Ahead of the nation's 2023 Oil & Gas conference, Business Day TV caught up with Devi Paulsen-Abott, CEO of ECP, and the organiser of the event, for more insight on the impact of international
Clothing retailer Edgars was a casualty of the pandemic. Retailability however acquired the group during that time and is now betting on e-commerce to help manage the group's turnaround. Business Day TV spoke to Norman Drieselmann, CEO of Retailability for greater perspective on the group's online plans for Edgars and other trends expected in the industry in the medium term.
Economic activity declined slightly in July. The freight industry came to a halt as a result of the return of stage 6 load shedding and interruptions in the transportation sector. The monthly BankServ Africa Economic Transactions Index, which dropped to 133 in July from 133.9 in June, reflects these difficulties. Business Day spoke to Thuletho Zwane, economics writer at Business Day for more detail.
The Competition Commission has recommended against the proposed Vodacom-Maziv merger. The Commission is of the view that the transaction will likely prevent or lessen competition in several markets. Business Day TV unpacked the decision with Competition Commission Principal Analyst, Grusham Mutizwa.
The mining and manufacturing sectors have ended the second quarter on a good note as both industris posted growth in June. On an annual basis, mining production expanded 1.1%, while factory activity rose 5.5%. Business Day TV unpacked the prints with RMB Economist, Siobhan Redford
US-Africa relations have seen changing strategies under various presidential agendas. Barack Obama emphasized African security and development, Donald Trump overlooked Eastern trade ties, and since his presidency, Joe Biden has aimed to revitalize connections with Africa. Business Day TV explored these shifts and evolving power dynamics between US and Africa, with Deputy Director at the African Center for the Study of the United States, Bob Wekesa and Executive Director at Political Economy Southern Africa, Siya Biniza.
The World Bank projects that growth in sub-Saharan Africa (SSA) will slow to 3.1% from nearly 4% last year. Some countries in the region however, are defying the odds on the growth front. Business Day TV spoke to Jacques Nel, Head of Africa Macro at Oxford Economics Africa for more detail on the pockets of resilience in sub-Saharan Africa.
Cape Town continues to face a crippling taxi strike, which is disrupting economic activity. Absenteeism rates have surpassed 50% in vital sectors, according to Cape Chamber of Commerce and Industry. Tensions between the SA National Taxi Council and City of Cape Town have escalated and have elicited calls for urgent intervention from the Western Cape premier. Sunday Times' Fast News Editor, Andre Jurgens spoke to Business Day TV for an in-depth analysis on the strike.
State-owned entities are infamous for being loss-making but the Development Bank of Southern Africa (DBSA) is an exception having produced record annual profit of R5.2bn. Business Day TV caught up with the bank's CEO, Boitumelo Mosako for more detail.
Businesses offering trade credit are seeing a rise in insolvencies with factors like load shedding and higher interest rates contributing to the increase. Business Day TV spoke to Frank Knight, CEO Debtsource, about how businesses can manage credit exposure, as well as how to identify potential insolvency risks.
The South African government's free electricity programme was meant to help 10 million poor households but it has only reached 2.3 million, due to misallocation of funds and poor administration. Business Day TV spoke to Energy Writer Denene Erasmus for more detail.
Artificial Intelligence is shaking up Africa's legal landscape. Some nations on the continent have started creating laws to regulate the technology while others still have no clear strategy to help manage it. Business Day TV spoke to Otsile Matlou, COO of ENSAfrica for greater perspective on the legal changes the technology requires.
Strong revenue growth along with associate income of 14% gave Nedbank's first half performance a boost. The growth is largely responsible the lenders 10% rise in headline earnings. Nedbank declared an interim dividend of 871 cents which is 11% higher than that of the previous comparable period. Business Day TV unpacked the performance in greater detail with the company's CFO, Mike Davis.
The JSE has recorded a 54% jump in foreign outflows, reaching R65 billion in 2023, mainly due to poor investor sentiment and legislative changes. Business Day TV spoke about South Africa's investment landscape with Investment Strategist at RisCura, Glenn Silverman
Unam Capital's Loyiso Mpeta provides tech-analysis on Truworths, MTN, Anglo Gold Ashanti, Richemont, Multichoice and Anglo Platinum
In an act of defiance, the Niger Junta have not reinstated President Mohamed Bazoum as per the ECOWAS' deadline to put an end to the coup in the region. Business Day TV unpacked the developments in this regard in greater detail with Everisto Benyera, Associate Professor of African Politics in the Department of Political Sciences at Unisa.
ANC veterans are challenging the party's power-centric approach and resisting alliances with the EFF and Patriotic Alliance. As concerns rise over coalitions in crucial Gauteng areas, both veterans and the ANC Youth League have demanded a reevaluation of ties with the EFF. Natasha Marrian from Financial Mail spoke to Business Day TVfor more insight into the ANC's current coalition dynamics.
PPC has launched a new employee trust that's purchased 10% of the company's share capital, via a loan of R380 million and an additional R975 thousand to help cover the security transfer costs. Business Day TV spoke to Njombo Lekula, MD of PPC SA for more detail.
Chicken prices are set to increase. Minister of trade, industry & competition, Ebrahim Patel has gazetted a notice to reintroduce anti-dumping duties on chicken, which were suspended 12-months ago to help protect the local poultry industry. Business Day TV spoke to Izaak Breitenbach, GM for the SA Poultry Association for more detail.
Zambia has not had load-shedding in over a year. This is major progress given that there was a time that the Southern African nation experienced around 12-hours of daily power cuts. Based on this improvement, Business Day TV spoke to Vickson Ncube, Board Chair of the country's power utility, ZESCO for some insight on how to solve Africa's power crisis.
South Africa's remarkable week unfolds with sporting triumphs - Banyana Banyana's groundbreaking win against Italy in the Soccer World Cup and an intense draw for Spar Proteas in Netball against New Zealand. Sunday Times Sports Reporter Mahlatse Mphahlele spoke to Business Day TV about the team's journey ahead.
Tiger Brands is eyeing the spaza shop market. The company has launched its route-to-market strategy which is aimed at increasing the marketing and supply of its products in the lower end of the market. Business Day TV unpacked the strategy in greater detail with the Route to Market Manager at Tiger Brands, Garth Fraser.
Bitcoin has kicked off August on a sour note, trading under the $30,000 mark after US lawmakers said that XRP is not a security. Business Day TV discussed the moves playing out in the crypto market with South Africa's country manager at Luno, Christo de Wit.
President William Ruto has been in office for nearly a year. During his reign, the East African nation's macroeconomic conditions have experienced a shift and the three major ratings agencies have downgraded Kenya's credit outlook to negative. Business Day TV assessed Kenya's economic and political landscape under Ruto's rule with Shani Smit-Lengton, Economist at Oxford Economics Africa.
Pick n Pay is grappling with plummeting market share, strategy woes, and it is set to post its first half-year loss. Some investors and retailers believe that the company's situation is linked to the retail company neglecting customer experience as well as executive family-tie management decisions. Business Day TV spoke with Money Editor's Giulietta Talevi for more insight.
Higher selling prices in Mpact's paper business, coupled with increased profitability in the plastics unit gave the packaging group's interim performance a boost. Mpact grew headline earnings per share by 33% and hiked its dividend by nearly 13%. Business Day TV unpacked the performance with the company's CEO Bruce Strong.
The JSE's diversification strategy is bearing fruit. Africa's largest stock exchange delivered a 5% rise in half-year revenue and a 12% jump in headline earnings per share, as it benefitted from its focus on new business and growth in net finance income. Business Day TV unpacked the numbers with CEO Leila Fourie.
The ETF market has recorded its largest monthly inflow of 2023. In July, inflows rose 9.5% to $58.6 billion, as that market benefitted from the equities rally. Business Day TV caught up with the Head of Client Solutions at 10X Investments, Chirs Rule for further insight.
South Africa's black and small-scale sugarcane growers are set to benefit from the South African Sugar Association's R176 million lifeline. This comes amid the industry's struggles with the milling sector crisis and financial shocks. SA Canegrowers CEO, Thomas Funke, joins Business Day TV to unpack the funding in greater detail.
According to the U.N, more countries are slipping into acute food insecurity. The Horn of Africa notably is one of the worst affected in this regard. Business Day TV spoke to Thabile Nkunjana, Agricultural Economist at the National Agricultural Marketing Council for an in-depth analysis of the state of food security on the continent.
After an extensive 25 month examination of websites and search engines,South Africa's Competition Commission has released a set of influential suggestions aimed at enhancing fairness and competitiveness within the realm of online retail. Business day Writer, Katherine Child spoke to Business Day TV, unpacking the new rules that are rattling online retailers.
The National Development Plan eyes full employment and poverty eradication by 2030 but with South Africa projected to grow by an average annual rate of 0.75%, Business for South Africa says that the joblessness rate will jump to 38.1% by then. The concern has been raised with President Cyril Ramaphosa. Business Day TV spoke to Martin Kingston, Chair of B4SA for more detail.
The Competition Commission has enforced new rules for global e-commerce sites, to provide prominence to local businesses and aid the visibility of local app developers. Business Day TV spoke to James Hodge, Chair of the Online Intermediation Platforms Markets Inquiry, for more detail on the CompCom's Online Platforms Market Inquiry Report.
Gold demand has slowed and slipped 2% in the second quarter, mainly due to slower gold purchases by central banks. Business Day TV discussed this in detail with the World Gold Council's Market Strategist, John Reade.
The local unit has made gains in July, trading under R18 on the back of lower levels of load shedding and a weaker dollar for most of the month. Business Day TV unpacked the moves playing out in the currency markets with RMB Trader, Quintin Classen.
Absa's PMI slipped to 47.3 in July from 47.6 in June. According to the bank, while the decrease is marginal, it does mask substantial changes in some of the major subcomponents like the business activity index, which tanked by almost 11 points. Business Day TV unpacked the print in greater detail with Miyelani Maluleke, Senior Economist at Absa.
The Johannesburg high court has dismissed G7 Renewable Energies' application to interdict Eskom from implementing the interim grid capacity allocation rules it published in June. Business Day TV spoke to Business Day's Energy writer Denene Erasmus, for more detail.
Oil is on track to end July on a good note. That's as prices are on course for the biggest monthly gains in over a year on the back of Chinese stimulus and expectations that OPEC will continue output cuts. Business Day T unpacked the moves playing out in the markets with David Elmes from the Warwick Business School.
Petri Redelinghuys, Founder of Herenya Capital, provides technical analysis on the JSE All Share Index, Capitec and Multichoice.
ccording to PwC, Africa needs to spend 10% of its Gross domestic product (GDP) on implementing climate action plans until 2030. Business Day TV spoke to Nasreen Mosam, International Development Leader for PwC Southern Africa for greater perspective on the kind of financing required for Sub Saharan-Africa's climate actions.
In her article, Editor-At-Large for Business Day Hilary Joffe discusses the contentious debate around Eskom's Komati, Grootvlei, and Camden power stations. She writes that the return to service project, initially a short-term fix, has become a lasting political issue, raising concerns about potential repeated mistakes. Business Day TV delved deeper into this topic with Hilary Joffe.
South Africa's government plans to end load-shedding by December. The state has an energy action plan in place to reach this target and has launched an Energy One Stop Shop, along with an Energy Resilience Fund to address SA's energy needs. Business Day TV spoke to Chris Yelland, Energy Analyst & MD at EE Publishers for his take on government's plans to end the energy crisis.
The African Cannabis Report projects that Africa's legal cannabis market will have a growth rate of over 28% by 2026. Business Day TV explored Africa's cannabis market's potential in greater detail with Brian Van Rooyen,
CEO of JSE listed cannabis group, Labat Africa.
South Africa's national rugby team, the Springboks, are gearing up to face Argentina at Ellis Park in their last home test before the World Cup. The match is scheduled for tomorrow at 17:00. Tickets are available for purchase to secure a spot in the 62,000-seat stadium. The organizers are determined to fill the stadium to capacity, but so far, only 44,000 tickets have been sold. Business Day TV caught up with sports reporter, Liam Del Carme for a preview of the 2023 Rugby World Cup.
Institute for Economic Justice and Pay The Grants are suing government. The civil society organisations want the state to increase the R350 Social Relief of Distress Grant and extend its eligibility criteria. Business Day TV unpacked the issues at hand in greater detail with Neil Coleman, Co-Founder & Senior Policy Specialist at the Institute for Economic Justice.
Spur is eying growth opportunities, and has acquired the majority stake in Doppio Zero. The comes as the JSE-listed restaurant group looks to expand its daytime dinning offering. Business Day TV caught up with company's CEO, Val Nichas to unpack the merits of the deal
In South Africa, amidst economic and political challenges, the coordination between civil society organizations, civil society itself, and the government appears out of sync. While CSOs play a vital role in guiding implementation, research agendas, and combatting misinformation, effective collaboration appears to be impacted by a lack of coordination between these entities. Business Day TV spoke CEO of OUTA, Wayne Duvenage and Professor from the Wits School of Governance, William Gumede
about the role of civil society organizations in SA's economy and democracy.
Algeria and Egypt want to be part of BRICS. Algeria is able to offer the New Development Bank close to $2 billion upon admission while the bloc's plans around a gold-backed currency has prompted Egypt to request membership. Business Day TV spoke to François Conradie, Lead Political Economist at Oxford Economics Africa his take on the BRICS interest.
Business schools in South Africa are facing challenges in equipping students to navigate perpetual regional and global crises, especially in the aftermath of the Covid-19 pandemic. Business Day TV spoke to Financial Mail's David Furlonger who shared greater perspective on the topic.
ArcelorMittal SA has sunk into the red. The steel giant has produced a loss of R359 billion during its interim period, as the group battled various headwinds which include weaker demand, higher input costs, lower international prices and logistics challenges related to Transnet and load-shedding. Business Day TV unpacked the performance in greater detail with CEO Kobus Verster.
Tech-enabled businesses have represented exciting growth opportunities for investors and tech startups continue to show year-on-year growth in funding across the continent. Business Day TV unpacked South Africa's technology investment potential with Nchaupe Khaole, Chief Investment Officer at Mineworkers Investment Company.
Finance costs weighed on AECI's interim performance, with headline earnings per share increasing only 5%. Business Day Tv unpacked the numbers with CEO Holger Riemensperger.
49 of Africa's 54 countries will participate in the second Russia-Africa Summit set to kick off tomorrow. Africa's food security will be top of the agenda at the meeting which some dub as a bid for allies. Business Day TV unpacked this with John Stremlau, International Relations Expert from Wits University
MTN has secured a R1.7bn contract to provide wireless internet and telecoms services to Gauteng's provincial government. The contract aims to deliver fibre connectivity across government offices & public institutions in the province. However, MTN's previous dealings with the government have faced legal challenges, with a review ordered for a cellular contract unlawfully awarded, while also becoming one of the preferred mobile communication service providers for the government alongside Cell C and Telkom. For more detail on the story, Business Day TV spoke to writer for Business Day, Mudiwa Gavaza.
SAA is one step closer to being privatised as the Competition Tribunal has given Takatso Aviation the green light to acquire a 51% stake in the airline on condition that there's a moratorium on retrenchments as well as minority shareholders selling their stake. Business Day TV spoke to Takatso's Thulasizwe Simelane for more detail.
Kumba Iron Ore and Anglo American Platinum have both reported double-digit declines in earnings. That's as the miners had to contend with lower metal costs as well as issues at Eskom and Transnet. Business Day Tv unpacked the reports in greater detail with mining analyst, Peter Major from Modern Coporate Solutions.
Oil prices are hovering near three-month highs. This comes after China unleashed stimulus measures, which are set to boost the economy and drive oil demand. Business Day TV discussed the demand dynamics with Raymond Phillips, Senior Oil Traders at RMB.
Zimbabwe is unable to access credit from international lenders, as its central bank is already $17 billion in arrears. Business Day TV spoke to Development Economist, Prosper Chitambara for his analysis on what it means for Zimbabwe's economy.
In a high-profile case involving Deputy President Paul Mashatile, eight VIP protection officers linked to an assault incident on the N1 had their initial court appearances at the Randburg Magistrates Court. The efforts of the officers to block the media from court proceedings and have their faces covered, failed when the magistrate upheld press freedom rights in the public interest. Business day TV spoke with Sunday Times reporter, Khanyisile Ngcobo for more detail on the case.
As South Africa gears up to host the 15th BRICS Summit, Busi Mavuso, CEO of Business Leadership SA warns that the country's relationship with BRICS should not come at the expense of its trade relationship with the West. Business Day TV spoke to her for more detail on her view ahead of the meeting.
Income from manufacturing production in South Africa increased by 1.6% in 2021, according to the Statistician-General's recent report on the sector's performance. The publication shows that the diesel fuel and automotive segment maintained the largest product position in both 2017 and 2021. Business Day TV spoke to Philippa Rodseth from The Manufacturing Circle for more detail on the sector's performance.
Anglo American Platinum has had a tough six months. The miner had to contend with lower metal prices as well as downbeat production. This hit profits with, headline earnings per share declining 71%, which further resulted in the group slashing its dividend by 85% to R12. Business Day Tv unpacked the numbers with Amplats CEO, Natascha Viljoen.
On this episode of Trade of the Week, founder of Herenya Capital, Petri Redelinghuys provides technical analysis on Aspen, Tiger Brands and Sasol
Pre-pandemic, Kenya was positioned to be one of the top performing economies in the world. The IMF also suggested this earlier this year but things have taken a dramatic turn. On account of worsening macroeconomic conditions, ratings agency Fitch downgraded Kenya's credit rating to negative from stable. Business Day TV spoke to Mpho Molopyane, SSA Senior Economist at Absa CIB for her analysis on Kenya's economic headwind
ANC Chair Panyaza Lesufi is battling to retain power, facing legal challenges to his slim victory and overwhelming demand for limited youth employment spots. Moreover, the ANC's national leadership is re-assessing their alliance with the EFF, potentially endangering their political control in the region. To unpack the politics of it all, Business Day TV spoke to Financial Mail's Natasha Marrian.
The Department of Health is hell-bent on keeping the vaccine contracts that it signed with pharmaceutical manufacturers during the pandemic a secret. Government will head to court to try and keep this detail under wraps amid expired vaccines possibly costing the country R3.9bn. Business Day TV spoke to Alex van den Heever, Wits University health-care governance expert for more detail on the secrecy surrounding these contracts.
BEE is scornfully referred to as a tick box exercise. The Sanlam 2023 Transformation Gauge has affirmed this with its finding that BEE scorecards are not reflective of true transformation on the ground. Business Day TV spoke to Business Times Reporter, Dineo Faku, about economic transformation in South Africa in light of the findings of the report.
Katlego Thaba, Associate Director for Actuarial Insurance Solutions at Deloitte Africa joined Business Day TV to unpack Deloitte's annual insurance industry outlook which outlines trends and developments in the sector.
Bringing Barbie to life in a movie has cost $145 million. The film is expected to bag between $80-$100 million in its opening alone. Business Day TV tallied the cost of making the movie with Zaid Kriel, Executive Editor of leading video game and entertainment website, IGN Africa.
The Reserve Bank's kept the repo rate unchanged at 8.25%, for the first since late 2021. Reserve Bank governor Lesetja Kganyago says this was not the end of the hiking cycle. Business Day TV unpacked the decision with Dawie Roodt, Chief Economist at Efficient Group.
Karooooo has continued to deliver upbeat subscriber growth. During the first quarter subscribers grew 14% which boosted revenue, which came in 24% higher. Business Day Tv unpacked the numbers with the company's CEO, Zak Calisto.
Inflation eased for a second consecutive month in June and prompted many to believe that the Sarb would leave interest rates unchanged at its July meeting while others priced in a hike of 25 basis points. Business Day TV spoke to Andre Cilliers Director & Currency Strategist at Treasury One and Economist at PwC, Xhanti Payi for their views on which way the decision would go.
Angola's kwanza lost nearly 40% of its value during the first half of this year. The currency is set to be the worst performing on the African continent in 2023. Gerrit van Rooyen, Economist at Oxford Economics Africa joined Business Day TV with his outlook for the Southern African nation's forex market.
According to the Altron FinTech Household Resilience Index, households are worse off financially than they were during the Covid-19 pandemic as financial resilience fell by 2.4% during the first quarter. Business Day TV unpacked the index in greater detail with Independent Analyst, Roelof Botha.
Russian President Vladimir Putin will not attend the 15th BRICS summit in person in South Africa next month. The decision safeguards South Africa from breaking its obligations as a signatory of the Rome Statute by not arresting the Russian head of state. Business Day TV spoke to Thando Maeko, Journalist at Business Day for more detail.
As South Africa's energy crisis intensifies, calls are growing among experts for a greener energy mix. Business Day TV spoke to Linda Mabhena-Olagunju, the CEO of DLO Energy Resources, for more detail on the wind power space.
The rally in the crypto market has lost some steam, with Bitcoin trading sideways near the $30,000 mark. Business Day TV caught up with Luno's Christo de Wit and he shared insight on the factors influencing crypto moves.
Exchange Traded Products (ETPs) have seen continued favour among investors on the JSE. The industry has grown 22.5% between December 2022 and June 2023. Mike Brown, Managing Director at eftSA, joined Business Day TV for a breakdown of ETP sector and its performance.
usiness Day TV spoke to Lourens Harmse, Africa Desk Head at RMB for some insight into the financial developments across Africa. These include Nigeria's fuel subsidy removal and its impact on the West African nation's economy and Zambia's debt relief plan.
There are growing concerns about global grain prices due to Russia's decision to not renew the Black Sea Grain Deal, which affects grain movement between Ukraine and Russia. Although South Africa has an adequate domestic grain supply, the potential price shocks will impact consumers and the wheat value chain, considering Russia's significant role as a wheat supplier. Monitoring the price reaction and ensuring smooth grain shipments from Russia in the future is crucial to accurately assess the impact on global markets. For more on this Business Day TV spoke to Agbiz's Wandile Sihlobo.
Capital Appreciation has hiked its dividend despite a drop in annual profit. The fintech firm posted a 44.5% plunge in headline earnings per share, largely due to a rise in operating expenses. Business Day TV spoke to Capprec's joint-CEO Brad Sacks for more detail.
On this episode of Stock Picks, Vestact's Bright Khumalo discusses Nvidia, Google and Microsoft as counters that enable investors to access growth in AI.
At the end of this month the Pretoria High Court will make its ruling on the Zimbabwean Exemption Permit system. If the court rules in Home Affairs' favour these permits will be scrapped, forcing nearly 200,000 Zimbabweans to leave South Africa. In the meantime, many have already spent thousands trying to obtain waivers but are still waiting for the process to be completed. Business Day TV spoke to Bianca Rutherfoord Jones, Immigration Specialist at Webber Wentzel for more insight on the legalities.
Demands for the release of the Lady R inquiry report have fallen on deaf ears. The investigation into whether the Russian ship was loaded with weapons in December will not be made public. This is according to the Presidency. Meanwhile, opposition party, the Democratic Alliance intends to legally contest this. Sunday Times' Reporter, Franny Rabkin spoke to Business Day TV about the detail of the story
SA GDP edged up by 0.4% in the first quarter thanks to gains in the manufacturing industry. This comes despite elevated levels of load-shedding. Business Day TV unpacked the print with Kevin Lings, Chief Economist at Stanlib.
OPEC+ nations have agreed to extend oil production cuts into next year.Saudi Arabia will voluntarily reduce output as part of the deal. The kingdom will slash production by 1 million barrels per day from next month. Business Day TV discussed how these moves have impacted oil markets with David Elmes from the Warwick Business School.
SA's largest fishing company Oceana, has more than doubled its interim dividend to 130 cents, after a strong performance by its Lucky Star brand. Business Day TV unpacked the performance with CEO Neville Brink.
On this episode of Trade of the Week, Unum Capital's Loyiso Mpeta provides technical analysis on Blue Label, MTN, Telkom and Vodacom.
The International Air Transport Association (IATA) has issued its outlook for the sector highlighting that Africa remains a difficult market to operate in but despite this, it is also the world's second fastest recovering region for passenger air travel. Business Day TV spoke to Linden Burns from IATA for more detail.
Government authorized the LP Gas Strategy for execution a year ago and now, with the electricity crisis seemingly unending, there may be a case to be made for heating SA's houses with LP gas this winter season. Business Day TV unpacked the story in more detail with Business Day reporter, Mudiwa Gavaza.
Foreign investors are dumping government bonds at an alarming rate as load-shedding darkens the prospects of the economy. The fear is that locals will not be able to offset the gap left by those that have dumped the asset class. Business Day TV discussed the situation and the Sarb's fears with James Turp from Sanlam Investment.
Artificial Intelligence is expected to boost the global economy by nearly $16 trillion by 2030, amid increased adoption as a means to provide practical solutions for existing challenges.
Business Day TV spoke to Sisonke Mgwebi, Consultant at Frost & Sullivan for more insight on the practical uses of AI and how it can be used to solve African challenges
The Constitutional Court has effectively overturned the absolute norm that tax information must always stay private, regardless of the public interest, in a decision resulting from the Financial Mail and amaBhungane's request for former president Jacob Zuma's tax documents from 2010 to 2018. Business Day TV spoke to Financial Mail editor, Rob Rose for more detail.
The Presidential Climate Commission says increasing the use of renewables in South Africa's energy mix from 7% to 40% by 2030 should end load-shedding. Business Day TV spoke to
Happy Khambule Busa's Environment & Energy Manager, who also sits on that commission, for more detail.
The JSE All Share has had tough month, as traders made use of a popular adage in the investment world - 'sell in May and go away'. During this period over 20 JSE counters have shed their value. Business Day TV took a closer look at how local equities have performed with the CEO of Anchor Capital, Peter Armitage.
Private equity activity has slowed down this year, due to elevated interest rates which caused a decline in deals and a pullback in funding. Business Day TV discussed this in detail with the Head of Global Private Equity Portfolios at Schroders Capital, Benjamin Alt.
The Presidential Climate Commission (PCC) recommends that South Africa needs a modernized electricity system that fosters inclusive economic growth and meets minimum emissions standards. Business Day TV spoke to the Commissioner of the PCC, Lebogang Mulaisi for more detail. Lebogang Mulaisi
East and West Africa are the continents fast-growing consumer markets. Overall, Africa's consumer market is expected to reach nearly 2 billion by 2030. But with elevated levels of inflation impacting both developed and emerging markets, what do African consumer spending trends reveal about the buying power of shoppers? To find out, Business Day TV spoke to Jee-A Van Der Linde, Senior Economist at Oxford Economics Africa.
The Absa PMI edging down to 49.2 in May from 49.8 the previous month indicates a like slight dip, but it means that the index is slowly sinking deeper into contractionary territory. This is due to a notable trend in the deterioration of business conditions over the last four months. The power outages experienced in May were similar to that of April and therefore business activity itself remained unchanged during the period. Miyelani Maluleke, Senior Economist at Absa unpacked the detail of the print with Business Day TV.
Motorists are set to start the month of June on a high. This as fuel prices are expected to drop significantly despite the weakening rand and fluctuations in international product prices. Business Day TV hosts Layton Beard from the Automotive Association to unpack these predictions
Property companies are benefiting from the growing semigration trend. Spear Reit has noted that factors like load shedding and semigration are forcing more people to return to the offices, which bodes well for vacancies. Business Day TV put this trend into perspective with Spear Reit's CEO, Quintin Rossi.
Impala Platinum has reached an agreement with the Public Investment Corporation to acquire its stake in Royal Bafokeng Platinum. The PIC has sold its 9.26% share, which lifts Implats stake in the mid-tier miner to 55.46%. Business Day Tv discussed what holding the majority stake in RBPlat means for Impala Platinum with CEO Nico Muller.
In 2022 mining and quarrying accounted for nearly 25% of Botswana's GDP, largely boosted by growth in the coal, soda ash and diamond industries. Business Day TV spoke to James Othapile, Managing Director of Erudite Botswana for his views on how the sector's potential can be further explored.
South Africa has issued a blanket diplomatic immunity to all leaders attending the BRICS Summit in August. This includes Russian President, Vladimir Putin, who has a warrant of arrest issued out for him by the International Criminal Court. In accordance with the arrest warrant, South Africa is compelled to arrest him. The ICC has stated that it expects South Africa to abide by this Rome Statute. To unpack this in detail, Business Day TV spoke to Business Day's Hilary Joffe.
Eskom's pre-tax loss for the 2022/23 financial year came in nearly 56% higher than what was expected. This highlights the need for government's proposed R254bn relief package but to what end if the losses keep piling up? Businss Day TV posed this question to Independent Economic and Energy Analyst, Tshepo Kgadima.
South Africa's central bank recently raised the repo rate by another 50 basis points to 8.25%. The country's electricity crisis, a lack of structural economic reforms and a resultant weaker rand left the bank with little choice but to continue its hiking cycle. Business Day TV unpacked the effectiveness of Monetary Policy in South Africa with Peter Attard Montalto, Managing Director, Global Lead for Capital Markets and Political Economy from Intellidex and Dawie Roodt, Chief Economist for Efficient Group.
According to the Sarb's financial stability review, foreigners are dumping local bonds. Foreign participation in South African government bonds fell to 25% from 42% in the last five years. Business Day TV discussed this in detail with RMB bond trader, Michelle Wohlberg.
Afrocentric and Sanlam have finally concluded an acquisition deal. The agreement will see Sanlam take on a controlling stake in Afrocentric, which amounts to 60% of the business. Business Day TV unpacked the merits of the deal with Afrocentric's Group CEO, Ahmed Banderker.
As South Africa battles cholera related deaths, we are reminded that as the continent's urban population expands rapidly, African cities need to protect their water supply. The World Bank estimates that more than 300 million Africans do not have access to clean drinking water with a further 800 million lacking or having limited access to hygiene services. Business Day TV caught up with James Cullis, Technical Director and Sustainability Expertise Leader at Zutari for more detail
Telkom's share price has jumped on news that former CEO Sipho Maseko, together with a group of investors, is making a move to take a large chunk of equity in the telecom operator. To unpack the detail around the story, Business Day TV spoke to Business Day writer, Mudiwa Gavaza.
Tiger Brands has posted a 16% rise in revenue but the gains didn't filter down to the bottom line as operating costs ate into profits. That's as the cost of load-shedding grew more than sixfold during the period. Business Day TV spoke to the group's CEO Noel Doyle about the numbers.
Adcorp has posted a near 7% rise in revenue from continuing operations. This marks its first year of annual revenue growth since the 2016 financial year. Business Day TV spoke to CEO John Wentzel for more detail on the company's performance.
Zeda has reported double-digit revenue growth of 20% jump, while headline earnings per share rose 3.8%. This was largely due to an increased demand in the inbound tourism market and corporate travel. Business Day TV unpacked the six months that was the company's CEO Ramasela Ganda.
Petri Redelinghuys, Founder of Herenya Capital, provides technical analysis on Sibanye-Stillwater, Naspers and Aspen.
Africa’s growth is expected to outpace global growth this year, despite multiple economic shocks. The African Development Bank projects that the continent’s GDP will advance by 4% against global growth estimates of 2.8%. Business Day TV unpacked the forecast with Ridle Markus, SSA Macroeconomist at Absa CIB.
The general election in 2024 is expected to feature fresh relations between parties and shared objectives, like the ousting of a political party. The possible formation of a DA-IFP coalition in KwaZulu-Natal is an example of what could emerge. Natasha Marrian, the deputy editor of Financial Mail discussed what an IFP and DA coalition agreement could look like.
South Africa's Consumer Goods Council, which represents the biggest food retailers in the country, says the government is taking food security for granted and that this could lead to a repeat of the riots that took place in July 2021. Business Day TV spoke to Zinhle Tyikwe, CEO of the Consumer Goods Council for more detail.
The African Continental Free Trade Area agreement is lauded as the biggest free trade accord in the world while BRICS has the potential to open other key markets for the continent. Business Day TV explored the power of this collaboration for Africa with renowned researcher, Petrus de Kock.
South Africa's recent trip to Russia came amid rising tensions between the U.S and SA. Escalations were followed by the US accusing Pretoria of providing weapons to Russia in the country's invasion of Ukraine. To unpack SA and Russia's recent security meeting and the impact it could have on SA/US relations in greater detail, Business Day TV spoke to Business Day journalist, Thando Maeko.
It has been a tough first half for Quantum Foods as the poultry producer was hit by a triple whammy of high feed raw material costs, the damaging impact of load-shedding and an inability to recover higher production costs. These factors led to an 82% drop in headline earnings per share. Business Day TV unpacked the
performance in greater detail with the company's CEO, Hennie Lourens.
Life Healthcare has posted a near 13% rise in interim revenue, but this did not filter through to its bottom line, as net profit slipped 8.2%.. During its reporting period, the private hospital operator had to contend with an impairment to goodwill within the UK-based Alliance Medical Group; an interest charge after settling a tax dispute with Sars and an IT hardware failure. Business Day TV spoke to the CEO of Life Healthcare, Peter Wharton-Hood for more insight.
Southern Sun is back in the black. The hotel group has delivered annual profit of over R1 billion from a loss of R156 million previously, as it benefitted from a recovery in the travel and tourism industry. Business Day TV unpacked the performance with CEO Marcel von Aulock.
ccess to external liquidity is a growing challenge across the African continent, according to Oxford Economics Africa's second quarter risk report. The data highlights that the continent's median liquidity risk score fell by 10% during the period, worsening existing forex constraints while jeopardising profit repatriation and the funding of imports. Business Day TV spoke to Jacques Nel, Head of Macro at Oxford Economics Africa for more insight.
Whilst some countries are in the process of transitioning away from internal combustion engine vehicles, South Africa is running the risk of being left behind. Government policies are crucial in transitioning to new energy vehicles and players in the sector in SA have concerns about the pace of policy development and implementation. Globally, however, EV supply and demand is developing at a fast pace, so will South Africa be a part of the revolution or miss opportunities? Financial Mail's David Furlonger discussed this with Business Day TV.
SA's power crisis is working in Reunert's favour. During its interim period, the ICT and Electronics group managed double digit growth across key metrics. Revenue increased by 21%, segmental operating profit jumped by 39% and headline earnings per share grew nearly 37%. This is largely thanks to record sales of the group's renewable power products. Business Day TV unpacked the detail with the company's CEO, Alan Dickson.
Trading on the crypto market has been muted. Bitcoin has hovered around $2, 000 for a third week, despite the volatility in equity markets. Business Day Tv unpacked the action playing out in that space with Luno's Christo de Wit.
Nampak had a tough six months. The packaging group has plunging into the red and posted a half-year loss of R2.4 billion, after it had to deal with impairment and currency devaluation losses. Business Day TV caught up with Independent Analyst at Small Talk Daily Research, Anthony Clark and he shared his analysis of the results.
The DA is lobbying U.S lawmakers, in a bid to preserve the country's duty-free access to the world's biggest economy. This after South Africa's alleged involvement in Russia's invasion of Ukraine, could threaten its access to the US market. DA leader, John Steenhuisen, joins Business Day TV, to shed some light on how he plans to persuade the U.S that South Africa should continue benefiting from AGOA
From three generating units being taken offline at the Kusile Power Station, the coal fired power plant is currently operating only one of its units. So, will Kusile be repaired by the end of year? Business Day TV posed this question to Energy Writer for Business Day, Dene Erasmus.
Falling from 7.1% year-on-year to 6.8% in April, inflation is at its lowest level since May 2022. Despite this, the print remains outside of the Sarb's target range of 3% - 6%. Business Day TV unpacked the data in greater detail with Murendeni Nengovhela, Economist at AlexForbes.
South Africa's Reserve Bank is expected to hike rates again. Economists have forecast an increase of between 50 and 75 basis points, as the bank seeks to tame inflation and protect the local unit. Business Day TV spoke to RMB's Economist Siobhan Redford for more insight.
Tyme Group has secured just under R1.5 billion, from two international investors. The digital banking group will use the funds to further its operations in South Africa and the Philippines, and boost expansion projects. Business Day TV discussed these plans with the company's Co-founder and CEO, Coen Jonker.
As we journey towards net-zero emissions by 2050, climate change tops the agenda at the annual AfDB meetings. Business Day's Economics Writer Thuletho Zwane is in attendance at the meetings in Egypt and Business Day TV caught up with her for more detail on this year's meeting.
From a ballot of hope in 1994, 29 years of democracy has yielded little prosperity for South Africans as citizens feel the brunt of incompetent service delivery, a power crisis and an overall declining economy. So, will South African citizen's optimism for a comprehensive change be sparked by the national and provincial elections in 2024? Will voters opt to stay away from polls, rather than change their vote? And can new entrants succeed in winning over South Africans? Business Day posed these questions to Business Day's political writer, Hajra Omarjee.
Government is currently mulling the implementation of a basic income grant for unemployed citizens aged 18-35. Business Day TV assessed the feasibility of this move with independent analyst, Roelof Botha.
Astral has taken a knock, the poultry producer has recorded an 88% slump in headline earnings per share. This comes after it took a R741 million hit, as it had to pay more for diesel on the back of Eskom's back-to-back power cuts. Business Day TV discussed the company's performance with CEO Chris Schutte.
Netcare has recorded double-digit profit growth. The private hospital group delivered a 40% jump in headline earnings per share, mainly due to a recovery in paid patient days. Business Day Tv caught up with the company's CEO Richard Friedland for further insight on the six months that was.
Balwin Properties has posted a 20% increase in annual profit, and strong demand in the Western Cape as semigration continues. Business Day TV spoke to CEO Steve Brookes, for further insight on Balwin's performance.
Founder of Herenya Capital, Petri Redingluys chats to Business Day TV about what the charts are telling him about Sibanye-Stillwater, Anglo American Platinum and Investec.
According to the 2023 Hotel and Hospitality Industry Confidence Index, the sector is set to boom this year as travel normalises post the pandemic. Business Day TV delved into the details with Laura Vercueil from the Johannesburg Tourism Convention Bureau
At the half-year mark, equipment southern Africa is Barloworld's star performer. The unit has delivered a more than 38% increase in revenue and is largely responsible for driving the groups near 13% rise in interim revenue from continuing operations. Business Day TV unpacked the results in more detail with the group's CEO, Dominic Sewela.
The terms of National Treasury's debt relief programme for Eskom came with strict terms for the state-owned utility and other stakeholders. Business Day TV spoke to Editor-at-large & Columnist for Business Day & Financial Mail Peter Bruce to find out if those conditions are being met.
Africa's set to miss its 2030 target of universal access to safe, affordable drinking water and equitable sanitation, due to an annual investment deficit of nearly $50 billion. Business Day TV spoke to Yaa Ngonyama, Consultant at Frost & Sullivan for more detail.
Leaders of the world's most advanced democracies are meeting in Hiroshima for the 49th G7 Summit. Concerns about the state of the global economy, rising prices and the debt limit crisis in the U.S are expected to feature on this year's agenda. Business Day's Editor-at-Large, Hilary Joffe, joined Business Day TV from the sidelines of the summit for a preview of the forum
Retail pharmacy group Dis-Chem has posted a 7% increase in annual revenue and a 17.4% jump in headline earnings per share, despite a tough operating environment. Business Day TV unpacked the results with the company’s CFO, Rui Morais.
Afrimat's bottom line has taken a knock. During the full year period the building materials and mining group reported a 15.7% decline in headline earnings per share. This was mainly due to lower iron ore prices, higher input costs and tough economic environment. Business Day TV unpacked the numbers with company's CEO, Andries van Heerden.
Investec has delivered double-digit earnings growth, reporting a 25.5% jump in headline earnings per share, while revenue rose 14.6%. This comes as the asset manager and banking group benefited from higher interest rates. Business Day TV discussed the company's numbers with Investec's Group Finance Director, Nishlan Samujh.
Namibia is pinning its economic hopes on its green hydrogen sector. By 2040 the country expects its energy mix to be dominated by green energy, which has the potential to expand its gross domestic product by more than 30% by 2030. Business Day TV assessed Namibia's green energy ambitions in greater detail with Gerrit van Rooyen, Economist at Oxford Economics Africa.
The South African rand recently hit a record low after the US Ambassador to SA accused the country of supplying Russia with arms during Russia's conflict with Ukraine. Financial Mail's Deputy Editor & Columnist, Natasha Marrian joins Business Day TV to unpack these allegations and to explore South Africa's capacity to produce weaponry.
South Africa's fourth quarter GDP contraction of 1.3% was in part driven by losses in the agricultural sector. This as the industry feels the pinch of inflation, climate change, load-shedding and geopolitical tensions. Business Day TV spoke to Paul Makube, Senior Agricultural Economist for more insight about the threats facing the industry.
The retail industry has ended the first quarter on a sour note, with sales dipping in January, February and March. The latest print shows a 1.6% fall in March on an annual basis as consumers contend with rising prices and elevated interest rates. Business Day Tv unpacked the numbers with RMB Economist, Siobhan Redford.
Ties between South Africa and the US have been under scrutiny, following the 'Lady R' scandal where the US accused South Africa of supplying Russia with arms, amid the ongoing Ukraine war. Business Day Tv caught up with John Stremlau from the International Relations Department at Wits University for a deeper look at relations between the two nations.
Kenya's inflation is easing. CPI slowed to 7.2% year-on-year in April from 9.2% in March. The downward trajectory however is threatened by adverse weather conditions. Business Day TV unpacked the print with Daniel Kavishe, Africa Economist at RMB.
As we approach 2030, different experts are projecting certain scenarios for the South African economy.
Allianz is among the most positive with the group's Chief Economist, Ludovic Subran suggesting that
the country remains well positioned to untap its potential via 'ubuntu'. Business Day TV spoke to
him for more detail.
South Africa's jobless rate edged higher in the first quarter and increased by 0.2 of a percentage point to 32.9%. The number of unemployed people increased by 179,000 during the period amid an energy crisis that is crippling the economy. Business Day TV unpacked the print with PwC South Africa's Chief Economist, Lullu Krugel.
Statistics South Africa has released the Quarterly Labour Force Survey for the first quarter of this year. The jobless rate edged higher to 32.9% from 32.7% previously due to economic constraints and low business confidence resulting from the power crisis. Business Day TV unpacked the findings with Times-Live Multi-media journalist, Thabo Tshabalala.
Diversified inner-city focused property group, Octodec says it's opted to withhold its full-year guidance due to 'political uncertainty'. For more detail, Business Day TV spoke to Anabel Vieira, Financial Director of Octodec.
Calgro M3 has delivered record profit. The group has recorded its highest ever headline earnings per share, rising by 45%. Despite the strong showing, Calgro M3 has decided against paying out a dividend, saying it plans to change its payout policy. Business Day TV caught up with company's CEO, Wikus Lategan.
Raubex has given shareholders a reason to smile. During the annual period the construction and materials group hiked its dividend by 40.7% to 76 cents, this comes as it reported an over 32% jump in revenue, and headline earnings per share. Business Day TV unpacked the results with company's CEO, Felicia Msiza.
On this episode of Trade of the week, we look into Estee Lauder, McCormick & Co and Healthpeak Properties with Unum's Hedge Fund Manager, Loyiso Mpeta.
Load-shedding has dimmed Vodacom's annual performance. The mobile operator spent more than R4bn on alternative energy sources over the last two years and an extra R300m to operate and maintain it. As a result, profit edged up by just 2.1% while the dividend was slashed by more than a fifth. Business Day TV unpacked the performance with the company's CEO, Shameel Joosub.
According to World Media, Africa's telecoms sector is the continent's fastest growing industry that will be responsible for future economic growth. Business Day TV spoke to Arthur Goldstuck, MD of WorldWideWorx about the prospect in greater detail.
According to the Debt Index by DebtBusters, the number of people seeking help from debt counsellors grew 40% year-on-year in the first quarter. The data also showed that consumers spent close to two-thirds of their net income to pay off debt. Companies Reporter for Business Day, Nico Gous joins Business Day TV to unpack how high inflation and interest-rate hikes squeeze disposable income and hamper consumers' ability to repay liabilities.
Ghana’s inflation remains in the double-digits. Inflation fell to 41.2% in April from 45% in March. Business Day TV unpacked the print in greater detail with Ridle Markus, SSA Macroeconomist at Absa CIB.
Medical schemes, including Discovery, are desperate to launch low-cost medical aid products, but the Financial Mail's reported that the regulator is, bizarrely, fighting these plans in court. Editor for Financial Mail, Rob Rose, joins Business Day TV to unpack these low-cost health product and the regulator's position on what he calls 'an innovation with little apparent downside'
The Rand hit a new all-time low against the dollar, due to a number of geopolitical factors, including claims that South Africa has helped arm Russia with weapons for the Russia-Ukraine war. Business Day TV spoke to Andre Cilliers, Director and Currency Strategist at TreasuryOne for his assessment of the local unit's performance.
Factory activity has continued to take a knock. In March output slipped by 1.1% year-on-year, the largest negative contributions were made by petroleum, chemical products, rubber and plastic products as well as textiles, clothing, leather and footwear. Business Day TV unpacked the data with The Manufacturing Circle's Executive Director, Philippa Rodseth.
Bitcoin's rally has taken a breather, prices have retreated from $30 000 to around $27 000, despite upbeat US inflation data. Business Day TV caught up with Luno's Country Manager, Christo de Wit for a look at the factors driving activity in the crypto market.
Côte d'Ivoire is one of Africa's best performing economies with cocoa production driving its gains. Climate change however is weighing on output and the country's growth potential. Business Day TV spoke to Leeuwner Esterhuysen, Economist at Oxford Economics Africa for more insight.
2024 might present us with the first multi-party form of government in South Africa since the dawn of democracy. We have seen larger parties increasingly lean on smaller ones to shore up their power. So, what will a coalition government look like at national level? We unpack what Natasha Marrian, Deputy Editor for Financial Mail refers to as the great coalition dating game.
Mining production remains in the doldrums. Output declined for a fourteenth consecutive month in March, down 2.6% year-on-year largely driven by a dramatic reduction in diamond output. Business Day TV unpacked the print with Crystal Huntley, Economist at Nedbank.
Despite the gold price nearing record highs in the first quarter, demand for the yellow metal has been mixed, with central banks' gold purchases rising while purchases from other sectors remained muted. Business Day TV discussed the demand dynamics with Market Strategist at the World Gold Council, Joe Cavatoni.
South Africa's vegetable export earnings have been increasing moderately since last year. Over the last 5-years, it has averaged R3.1BN. Bulk of that income comeS from the rest of Africa which scooped up a whopping 64% of the country's vegetable exports in 2022. Business Day TV spoke to Thabile Nkunjana, Agricultural economist in the Agro-Food Chains Markets and Economic Research Division at the National Agricultural Marketing Council for more insight
Public Enterprises Minister, Pravin Gordhan is set to appeal against a ruling to prevent load-shedding for public facilities within 60 days. Last week, a high court ruled that government should spare schools, police stations and healthcare facilities of load-shedding. Government is set to appeal as this ruling may pose a risk to current efforts to stabilise the national grid. Business Day TV unpacked the detail of the story with Tauriq Moosa, Legal Writer for Business Day Editorial.
At the half-year mark, Transaction Capital has reported a loss of R1.73bn as the group starts restructuring its struggling SA Taxi unit. The division's core earnings attributable to the group plunged by 77% during the period and is expected to weigh on the firm's full-year outlook as well. Business Day TV spoke to Transaction Capital's CEO, David Hurwitz for a closer look at the performance.
Growing demand for logistics facilities has given Equites a boost. During the annual period the landlord reported a 4.1% rise in distribution per share, while keeping vacancy rates low. Business Day TV caught with the company's CEO, Andrea Taverna-Turisan for more detail on the numbers.
Despite market uncertainty as investors await the US CPI print, the local unit has remained steady trading above R18.50 against the dollar. Business Day TV discussed the factors driving activity in the currency markets with RMB's Rayno Nigrini.
The fourth industrial revolution is broadly characterised by technologies that fuse digital, biological and physical innovation in areas such as robotics or artificial intelligence. The adoption of digital technologies in the meantime remains a challenge in Africa. Hardy Pemhiwa, President and Group CEO of Cassava Technologies spoke to Business Day TV about how technology development must address African challenges.
Despite SA's economic strain, Karoooo has extended its growth streak. Subscriptions for its Cartrack business increased by 12.5% year-on-year to 1.72-million, boosting subscription revenue. Karooooo aims to grow Cartrack's subscriber base by a further 10% in its new financial year. Business Day TV unpacked the numbers further with Business Day's Business Writer, Mudiwa Gavaza.
Coal producers, Exxaro and Thungela are under fire for refusing to table non-binding advisory shareholder resolutions from last month. The resolutions involve bringing shareholders up to speed on how the miners' lobbying and policy engagements align with that of their industry peers and goals of the Paris Agreement which targets a 45% cut in emissions by 2030 and zero emissions by 2050. Business Day TV spoke to Tracey Davis, Executive Director of activist group, Just Share for more detail.
According to Independent Analyst Roelof Botha, there are several reasons why South Africa should quit the BRICS body. Chief among his reasons are the economic power discrepancies between the five countries and the power it gives them in terms of decision making. Business Day TV spoke to Botha for more on his stance.
The DA and the EFF have reached voter ceilings. This according to the ANC’s internal research aimed at raising its chances of winning the elections in 2024. The ANC’s research, which Business Day has seen, is in stark contrast to other polls that show that the ANC is unlikely to win an outright majority in 2024. Business Day TV unpacks these finding with Business Day Journalist, Thando Maeko.
At the half-year mark, Redefine’s distributable income increased by 7.2% as the group reaped the benefits of increasing its exposure to the Polish retail sector via EPP. Business Day TV unpacked the performance in greater detail with the company’s CFO, Ntobeko Nyawo.
Economic uncertainty is throttling demand for new cars. Combined sales of cars and commercial vehicles totalled 37,000 last month, a 0.2% increase from the figures for April 2022. Sales of commercial vehicles fared better given that bank credit approvals fell in April. Financial Mail reports that aggregate exports show some optimism. Business Day TV further analysed the latest vehicle sales data with Editor-at-large for Financial Mail, David Furlonger.
Business Leadership SA helped fund a controversial independent probe into corruption, crime and sabotage at Eskom but business body, Busa stands by the funding support. Business Day TV spoke to Cas Coovadia, CEO of Busa for more detail.
KAL group formally known as KAAP Agri has delivered bumper numbers. During the half-year period the group reported an 11.6% jump in headline earnings per share while revenue surged 68.4%. This was mainly driven by the acquisition of fuel stations and convenience centres. Business Day Tv unpacked the results with CEO Sean Walsh.
The Nigerian government has decided to delay the removal of fuel subsidies. The move was set for June but state says it needs further consultations with key stakeholders and the incoming administration. Business Day TV unpacked the story in more detail with Pieter Scribante, Political Economist at Oxford Economics Africa.
While Communications Minister Mondli Gungubele urges calm over the provisional liquidation of the South African Post Office, Financial Mail's investment writer Jaco Visser, asks if this liquidation is the apocalypse we may think it is and whether the entity in itself has just become obsolete with the private sector already doing all the things the Post Office once did. Business Day TV discussed the thinking with Visser.
Pick n Pay has cut it total dividend by over 16% as the bill the retailer racked up to deal with load-shedding shot beyond the R500m mark. The company believes that intense power outages are now the 'permanent new reality' and so to give its balance sheet some room, the firm has decided to adjust its dividend policy and take its payout ratio from 76% to 56% - 67%. To discuss this in more detail, Business Day TV spoke to Pick n Pay's CFO Lerena Oliver.
The local currency is getting a new look, that's as the Sarb unveiled new designs and beefed-up security features. Business Day TV caught up with the Deputy Finance Minister, David Masondo to discuss the significance of the move, especially in a country which has lost trust in a number of economic areas.
The Sarb has upgraded the South African currency, unveiling new features - including advanced security measures which will assist to stop counterfeiting. Business Day TV unpacked these features and the importance of this upgrade with the Sarb's Deputy Governor, Kuben Naidoo.
Business Day TV speaks to John Dludlu, CEO of the Small Business Institute about how Africa can be steered towards realising a free-trade pact.
Secretaries, telemarketers, accountants and auditors are amongst the jobs most at risk of falling away over the next five years, according to a study done by the World Economic Forum. The report has however identified the green energy transition and localisation of supply chains as drivers of job growth in South Africa. Business Day TV unpacked the findings of the World Economic Forum's Future of Jobs report with Denene Erasmus, Energy Writer for Business Day.
If you live inland, as of this morning you're paying more than 23 Rand per litre for petrol - The highest rate thus far in 2023. This as both grades of fuel increased by 37 cents, while diesel and illuminating paraffin users were met with some relief Higher global oil prices are largely responsible for fuelling the petrol price. Business Day TV spoke to the Automobile Association's Layton Beard for more detail.
Renergen has narrowed its annual loss. The group reduced its loss by 21% to R26.6 million, after revenue surged due to increased demand for LNG and helium. Business Day TV unpacked the numbers with the company's CEO Stefano Marani.
Africa's cash shortages and other currency issues are expected to boost the continent's digital payments landscape. Digital payments in the meantime are projected to rise from close to $4bn to $20bn in 2025. Business Day TV assessed the continent's digital payments landscape with Mark Dankworth, President of Business Development in Africa from technology group Ukheshe
The world's central banks seem to be showing a new appetite for gold, particularly emerging markets central banks. The World Gold Council reports that 2022 was a record year for gold demand and central bank purchases saw a record high of over one thousand tonnes. Business Day TV spoke to Hilary Joffe, Editor-at-Large for Business Day to dig into how SA should be nurturing its gold industry to make the most of the trend.
Factory output remains in contractionary territory as the Absa PMI rose to 49.8 points in April from 41.8 previously. The uptick was largely driven by a surge in the inventories index which is at its highest level since mid-last year. Business Day TV unpacked the print with Lisette IJssel de Schepper, Senior BER Economist.
Bitcoin is edging closer to that $30, 000 mark again. That's as some investors said they expect the Fed to inject more money into the US economy after signs of yet anotherUS bank collapse. Business Day TV caught up with General Manager for Africa at Luno, Marius Reitz and he shared his take on the activity playing out in that market.
Steinhoff International has agreed to include a proposal that would see shareholders receive a fifth of any restructured company, rather than nothing. The debt-laden international retail group said its creditors were prepared to accept contractual contingent value rights for shareholders, as part of a Dutch restructuring plan for the group. Steinhoff's board did not specify the details of the CVRs but said this would be published "in due course". Business Day unpacks the details of the restructure with Business Day's Brand Journalist, Katherine Child.
Delaying the shutdown of Eskom’s coal-fired power plants may help ease load-shedding but it raises questions about who will help fund them as lenders and asset managers have committed to net-zero emissions targets. Business Day TV unpacked this conundrum with Olga Constantatos, Head of Credit at Futuregrowth.
Despite local issues like load shedding, some analysts believe that South Africa remains an attractive emerging market investment destination. Business Day TV discussed this in detail with Old Mutual Wealth’s Izak Odendaal.
International investors are still seeing value in local bonds, as foreigners purchased bonds worth R2.39 billion over the past week. Business Day TV discussed the activity playing out in that space with RMB Bond trader, Michelle Wohlberg.
Deloitte surveys 300 senior investment management executives across various sectors to gain insights on trends in investment management. Business Day TV unpacked the findings of the survey and what they point to for the industry with Amilah Costandius, Senior Manager of Strategy, Monitor and Investment Management at Deloitte Africa
In the month of March, more than 2 million travellers passed through South African ports. Majority of these were foreign travellers which points to a recovery in the local tourism industry. Off the back of the data, Business Day TV spoke to Tshifhiwa Tshivhengwa, CEO of the Tourism Business Council of SA for his outlook on the industry.
Minister of Communications, Mondli Gungubele, disclosed that government has not blocked Elon Musk's Starlink satellite network from operating in SA. Instead, it is the US satellite company that has not applied for an operating license in the country. Opposition party, the DA says that the reason Starlink has not yet applied for license is due to unfavourable regulations. Business Day TV delves further into this with Business Writer for Business Day, Mudiwa Gavaza.
On this episode of Trade of the week, Founder of Herenya Capital, Petri Redelinghuys discusses his outlook for the Satrix 40, City Lodge and Investec.
The 49th G7 summit is set for next month and the host, the Japenese government, has opted to un-invite President Cyril Ramaphosa in his single capacity as South African president and has opted to give the invite to the African Union instead. The move comes as the G7 tries not to attribute particular significance to certain African countries. Business Day TV spoke to Aly-Khan Satchu, CEO of Rich Management for his analysis of the upcoming summit and what it means for Africa.
Joburg Mayor, Thapelo Amad and Speaker, Colleen Makhubele are facing motions of no confidence against them. The motions were brought by ActionSA and the DA and have successfully made it to the council agenda. This, making them the subject of council debate at the next meeting set to take place tomorrow. Makhubele and Amad are not facing one but two motions individually. Business Day TV unpacked how the motions came about with Financial Mail Deputy Editor and Columnist, Natasha Marrian.
It's impossible to end load shedding by year-end, according to Electricity Minister Kgosientso Ramokgopa who laid out his plans to tackle load-shedding at the ANC's national executive committee meeting over the weekend. In the next 6-months, the minister plans to add 4,000 megawatts of power to the grid. This is just one of multiple interventions which also includes relying more on diesel generators to help ease pressure on power supply. Business Day TV spoke to Independent Economic & Energy Analyst Tshepo Kgadima for his assessment of the plans.
After lengthy delays and legal wrangles, President Cyril Ramaphosa has finally appointed the SABC board. This after the five-year term of the previous board ended in October last year, leaving the public broadcaster without a board for six months. The SABC has been mired in governance and financial crises that took it to the brink of collapse, so the new board is set to have their work cut out for them. Business Day TV unpacked the appointment of the new board with Sunday Times' Digital Editor, who is also Chair of the Sanef Media Freedom Committee.
The Employment Equity Amendment Bill has been signed into law. The amendments champion new controversial transformation laws that will impact business and employment in the country. Business Day TV unpacked the country's transformation journey in greater detail with Sibongile Vilakazi, Newly Appointed BMF President
Lower car prices weighed on Tesla's first quarter performance, with the firm posting a 24% decline in profit. Business Day TV unpacked Tesla's investment case with James Bennett, Global Equity Analyst at Anchor.
Clicks has posted a rise in half-year profit growth, despite consumers remaining under pressure. Headline earnings for the period came in 0.9% higher. Business Day TV unpacked the performance with CEO Bertina Engelbrecht
Over the past two years, Central Banks around the globe have been hiking interest rates in a bid to tame rising
inflation. South Africa has seen its ninth consecutive rate hike since November 2021. This amid muted growth which will be further exacerbated by the severe power cuts. In turn, the ailing economy will have a hard time digesting more interest rate pain. Sarb Governor Lesetja Kganyago says that it's hard to predict when repo rate hikes will end but has in the meantime called for a lower inflation target and for deregulation in the power and transport sectors to help aid the economy. The Governor joined Business Day TV to discuss the issue in detail.
South Africans are deeply concerned about what the future holds. A recent Institute of Race Relations survey showed a significant majority of South Africans, regardless of race, income level or political persuasion, believe the country is moving in the wrong direction. For a closer look at the story, Business Day TV spoke to Financial Mail Reporter, Claire Bisseker
Inflation is expected to soften in the Middle East and North Africa this year but for now, the latter is feeling the pinch of elevated inflation and rising food prices. The scenario is taking a bite out of Ramadan, a holy month of fasting which is followed by three days of celebration by the region's largely Muslim population. François Conradie, Lead Political Economist at Oxford Economics Africa spoke to Business Day TV about how inflation in North Africa is impacting livelihoods.
Many analysts have been questioning Elon Musk's turnaround strategy for Twitter. That's after he axed the executive team, cut jobs and moved towards a subscriber-based model. Business Day TV caught up with Senior market analyst at Oanda, Craig Erlam and he shared his perspective on the company's performance since Musk took over.
Civil action groups are concerned about the constitutionality of new election laws that President Cyril Ramaphosa has signed. Ramaphosa signed the bill into law this week following a constitutional court judgment in 2020. The judgement stipulated that the previous electoral act was unconstitutional because it only allowed political party members to run for elections in the National Assembly and provincial legislatures. However, the new election laws received instant blowback as organisations say it violates constitutional principles. Business Day's Linda Ensor unpacked the detail of the story with Business Day TV.
Inflation ticked up in March to 7.1% year-on-year from 7% in February as food and transport costs fail to abate. Food and non-alcoholic beverages increased by 14% year-on-year while transport costs accelerated by 8.9% during the period. Business Day TV sat down with Xhanti Payi, Economist at PwC for his analysis of the print and what it suggests for monetary policy moving forward.
Capitec has delivered double-digit profit growth, with headline earnings per share jumping by 15%. This was partly boosted by higher interest rates and allowed the lender to lift its total dividend by 15% to R42. Business Day TV unpacked these numbers with CEO Gerrie Fourie.
Oil prices have slipped, shrugging off upbeat Chinese economic data as focus shifted to a possible increase in US interest rates and wider concern about global growth. Business Day TV caught up with RMB's oil trader, Raymond Phillips for more insight on the activity playing out in the oil markets.
The Artificial Intelligence market is currently valued at $387 billion and is projected to grow to $1.3trn by 2029 and a lack of readiness will work against Africa cashing in on that growth. Business Day TV assessed Africa’s AI landscape with Dean of UJ’s Business School, Randall Carolisen.
Capitec is seeing the pros and cons of the high interest rate and high inflation environment. The lender has managed to grow headline earnings per share by 15% but at the same time the group’s credit impairment charge on gross loans and advances nearly doubled. Business Day TV unpacked the performance with Kokkie Kooyman, Banking Analyst from Denker Capital.
According to the FNB's Residential Property Barometer, house price growth continued to slow in March. Prices averaged at 2.1% , down from 2.3% in February, as high interest rates took hold and weighed on consumers' spending power. Business Day TV spoke to FNB's Senior Economist, Siphamandla Mkhwanazi for greater insight on the index.
On this episode of Trade of the Week, Unum's Hedge Fund Manager, Loyiso Mpeta analyses DRD Gold, Gold Fields, Anglo Gold Ashanti and Harmony Gold.
PMI data from Africa in March showed that the continent's non-oil sectors had a mixed bag while elevated inflation in Egypt and Nigeria caused factory production to fall deeper into negative territory. Business Day TV caught up with RMB's Africa Economist, Daniel Kavishe for a closer look at the PMI readings from Egypt, Kenya, Mozambique, Nigeria and Ghana to assess the health of Africa's factories.
Newly appointed Minister of Electricity, Kgosientsho Ramokgopa has called for the revision of the energy action plan. This could lead to the setting of new targets to end the nation's ongoing energy crisis. Speaking on the side-lines of the South Africa Investment Conference, the electricity minister said his proposals for adjusting the targets and the suggested revisions would be submitted to cabinet in the coming weeks. Business Day reports that key targets set out in the strategic plan have already been missed. Thando Maeko, Journalist for Business Day spoke to Business Day TV for a closer look at Ramogkopa's "more realistic" targets.
While there appears to be disagreement between Minister of Public Enterprises, Pravin Gordhan
and Minister of Electricity, Kgosientso Ramokgopa regarding the future of Eskom's ageing coal-fired power plants,
Business Unity South Africa (Busa) has warned that South Africa cannot afford to backtrack on decarbonisation. Busa's Environment & Energy Manager, Happy Khambule spoke to Business Day TV about why the organisation has that view.
While the world eyes net-zero emissions by 2050 necessitating a move away from the use of fossil fuels, South Africa’s Minister of Public Enterprises and Minister of Electricity are tussling over the decommissioning of Eskom’s coal-fired power stations. Environmental groups have warned that incoherent policy in this regard poses a risk to the country’s climate funding. Business Day TV spoke to Denene Erasmus, Energy Writer at Business Day for more detail.
Deloitte’s Restructuring Survey has found that citizens from Africa’s biggest economies are most pessimistic about growth and business rescue success rates. Business Day TV unpacked the findings of the survey with Jo Mitchell-Marais, Turnaround & Restructuring Leader at Deloitte Africa.
A new investment target of R2trn has been set for 2028 as President Cyril Ramaphosa’s five-year plan to garner R1.2 trillion worth of investment into the country has been surpassed by 26%. Business Day TV spoke to Jacko Maree, Investment Envoy to President Ramaphosa for his take on the five-year investment drive.
PSG Konsult has reported a rise in annual profit, with recurring headline earnings per share increasing by 5% to close to 73 cents. That's as the group's wealth unit performed well, offsetting the downbeat showing from its asset management and insurance units. Business Day TV unpacked the numbers with the company's CFO, Mike Smith.
The crypto market has recovered from the banking crisis, with Bitcoin passing through the $30 000 mark and this comes after US inflation eased to 5% in March. Business Day TV caught up with South Africa's country manager at Luno, Christo de Wit for further insight on that market.
Kenya’s debt has shot up by $2.58bn to over $40bn and while the East African nation is in talks with the IMF for new funding it is currently facing a dollar shortage, a depreciating shilling and severe drought. Business Day TV explored Kenya’s economic headwinds with Shani Smit-Lengton, Economist at Oxford Economics Africa.
The South African Post Office has been placed under provisional liquidation as the embattled state-owned entity owes creditors over R4.4bn. Business Day TV spoke to Mark Barnes, Former CEO of the SA Post Office for his take on the deterioration of the entity.
The JSE has shed about 20% of its companies over the past decade. Companies have argued that the exchange is too expensive and the regulations too onerous; but critics say on a benchmark basis against other stock exchanges that have been able to attract listings, the JSE is actually cheap. Giulietta Talevi, Money and Investing Editor for Financial Mail joined Business Day TV to unpack the reasons behind SA's shrinking stock exchange and some workable ideas about how to reverse the drain.
South African households are in for another blow. That's as Nersa has proposed a 15.1% hike in municipal electricity tariffs from July, and this is on the back of the bulk supply tariff increase for municipalities of 18.4%. Business Day TV spoke to the regulator's Executive Manager of Electricity, Zingisa Mavuso.
Despite Glencore sweetening its offer for Teck Resource, the Canadian mining firm is not seeing value in the takeover bid. Business Day TV unpacked the prospects of the deal with Investment analyst at Anchor Capital, Seleho Tsatsi.
EOH is now a 'normal business, according to the technology services firm's CEO Stephen van Coller. For several years, the company has been dogged by corruption scandals, unprofitable legacy contracts, inefficient corporate structures, huge debt burdens and an inefficient capital structure. But van Coller says that following the group's successful R600m capital raise, EOH can now get back to business and focus on its Growth-Efficiency-Talent strategy. To unpack this in more detail, Business Day TV spoke to van Coller.
Passive investments have been gaining traction, with ETFs and other index funds outperforming many active managers. This has been mainly due to the accommodative monetary policies over the past decade. Business Day TV caught up with 10X Investments' Chris Rule for further insight on passive strategies.
When the U.S sneezes, the rest of the world catches a cold. An adage the BRICS nations are trying to weaken. The bloc of emerging market nations are mulling a new global currency that will decrease reliance on the U.S dollar. Business Day TV spoke to Andre Cilliers, Director & Currency Strategist at TreasuryONE to discuss what this de-dollarization could mean for the currency market as a whole.
The National Union of Metalworkers of South Africa (NUMSA) is threatening to embark on a strike in the bus sector ahead of the Easter weekend. That's if employers do not put a meaningful wage offer on the table. NUMSA said it has been negotiating with employers since January and should they not return to the negotiating table, they would have no choice but to resort to a full-blown strike. This after employers refused to negotiate a 7% wage increase and health insurance benefits for employees. Business Day TV spoke to Sunday Times Reporter, Pathu Luvhengo for more detail.
Before government's u-turn on its decision to exempt Eskom from disclosing irregular and wasteful expenditure for the next two years, business group Sakeliga planned to challenge the decision in court. The initial decision was passed under Section 92 of the Public Finance Management Act and to look at the act in greater detail to understand Finance Minister Enoch Godongwana's powers in this regard, Business Day TV spoke to Sakeliga's Legal Officer, Tian Alberts.
Local companies continue to find value in the secondary listing market as more and more firms list on the A2X, and the latest company to join in on the action is Africa's biggest retailer - Shoprite. Business Day TV unpacked this in detail with A2X's CEO, Kevin Brady.
The rand has kicked off the second quarter on a positive note, trading below the R18 mark to the Dollar and this is after the South African Reserve Bank raised rates, partly in an attempt to protect the local unit. Business Day TV spoke to RMB's Foreign Exchange Structurer, Rayno Nigrini for his outlook on the local unit.
The African Continental Free Trade Area agreement should boost trade on the continent by 28% come 2030. Logistics, however, may pose a risk to this target but Frost & Sullivan says that multi-channel logistics should help advance the agreement. Business Day TV spoke to Nomvo Kasolo, Africa Consultant at Frost & Sullivan for more detail.
Eskom, has been exempted from having to disclose 'irregular and fruitless' expenditure in its annual financial statements until 2025. Finance Minister Enoch Godongwana has exempted the utility from regulations requiring SOEs to disclose expenditure that does not comply with provisions of the PFMA. Lobby groups are urging for a review on the exemption, arguing that transparency at Eskom is critical. Denene Erasmus, Energy Writer for Business Day joined Business Day TV to discuss the detail of the story.
In 2022 Corruption Watch received more than 2,000 reports of corruption. This according to the watchdog’s annual corruption report which reveals that maladministration relating to funding remains the most common among corrupt acts. Business Day TV unpacked the findings of the report with Kavisha Pillay, Head of Stakeholder Relations & Campaigns at Corruption Watch
Sars has delivered record revenue collections, with gross tax revenues coming in at over R2 trillion for the 2022/2023 financial year. The net amount however came in at close to R1.7 billion as Sars paid out more refunds than expected. Business Day TV unpacked the numbers with Sars Commissioner, Edward Kieswetter.
Ahead of the BRICS Summit, there have been reports suggesting that emerging market heavyweights - Brazil, Russia, India, China and South Africa are thinking of ditching the US dollar in an attempt to trade with a more common currency. Business Day TV caught up with Chair of the BRICS council Busi Mabuza, and discussed the viability of this move.
In this episode, Loyiso Mpeta from Unum Capital gives his analysis of Digital Realty Trust, Tyler Technologies and Arista Networks.
In Africa, one in five countries do not raise enough revenue to meet basic needs and this has created development gaps. According to the International Financial Corporation, the continent's ability to attract foreign investment is rooted in deepening its local capital markets. Guido Haller, Head of Global Markets at Standard Bank CIB joined Business Day TV to discuss strengthening Africa's capital markets amid funding deficits and shrinking stock exchanges.
Over the past 10 years, Telkom has gone from having the monopoly to being just another telecom player and now needs to invest in 5G wireless technology to remain a significant player in the telecomms landscape. This is according to Business Day's Business Writer, Mudiwa Gavaza. Business Day TV spoke to Gavaza for more detail.
After a strong start to the year, the Absa PMI has fallen for a second consecutive month with March's reading coming in at 48.1 index points down from 48.8 index points in February. On the bright side, the index tracking expected business conditions in the next six months suggests that output could improve moving forward. Miyelani Maluleke, Senior Economist at Absa spoke to Business Day TV about the detail of the index.
Chemicals, fertilizer and explosives group Omnia, is looking to Indonesia for growth. The group has formed a joint-venture with the county’s second largest company, MNK, to expand its mining footprint. Business Day TV unpacked the deal with Seelan Gobalsamy, CEO of Omnia.
South Africa’s economy is in a precarious position. The country is expected to register growth of just 0.2% this year from initial forecasts of over 1%, due to the impact of load-shedding. Business Day TV spoke to Kevin Lings, Chief Economist at Stanlib for his assessment of the local economy.
Workforce has delivered double-digit earnings growth. The firm's annual headline earnings per share increased by 21% to 46.8 cents, while revenue jumped 24%. This was mainly boosted by a strong showing from its human capital, staffing and outsourcing solutions divisions. Business Day TV unpacked the numbers with CEO Ronny Katz.
The South African Reserve Bank has exceeded market expectations, raising the repo rate by 50 basis points to 7.75%. Business Day TV unpacked the move with Senior Economist at BNP Paribas, Jeff Schultz.
Business Day TV unpacks the findings of the 2022 Manager Watch Survey of Retirement Fund Investment Managers published by Alexforbes. The standout feature of this year's report finds that 19 of SA's 20 largest fund managers are considered Level 1 BEE contributors. Michael Avery hosted Janina Slawski, Head of Investment Consulting at Alexforbes, and Zwelakhe Mzwakhe Mnguni, Chief Investment Officer & Co-Founder at Benguela Global Fund Managers to unpack the survey's findings.
The DA has put its focus on the 2024 elections as it gears up for its national elective conference. The opposition party is set to elect a leader this weekend, a move which will also set the tone for how the party deals with coalition agreements before next year's national election. Despite the ANC's governance failures, the DA has failed to break through electorally. Business Day TV unpacked whether the DA is destined to always be an opposition party, or could it be a real alternative to the governing ANC with Financial Mail's Deputy Editor & Columnist, Natasha Marrian.
The Competition Commission has come under fire for calling some food price hikes “opportunistic”. This as sticky inflation, an energy crisis and climate change is largely behind the uptick in food prices. Business Day TV spoke to Thabile Nkunjana, Agricultural economist in the Agro-Food Chains Markets and Economic Research Division of the National Agricultural Marketing Council for his take on the matter.
Chinese e-commerce firm Alibaba, has announced plans to split its $220 billion empire into six units. These businesses will individually raise funds and explore initial public listing options. Business Day TV unpacked the move with Prescient China's Head of Product, Tian Pan.
Economists expect the South African Reserve Bank to hike rates again, that's as inflation remains above the Sarb's target range. Business Day TV spoke to RMB Economist, Siobhan Redford for her expectations.
The global carbon credit market is booming. Kenya is currently ranked eight on the list of countries selling carbon credits from nature-based solutions. Business TV spoke to Karin Boomsma, Project Director at Sustainable Inclusive Business Kenya for more insight and perspective on Kenya’s carbon credit market based on a recent report by SIB-Kenya and the Kenya Private Sector Alliance.
Economists expect the South African Reserve Bank (SARB) to increase the repo rate by 25 basis points as it looks to rein in inflation. Business Day TV discussed the reasons behind the prediction with Hilary Joffe, Editor-at-Large for Business Day.
According to the BankservAfrica's Take-home Index, the average February nominal take-home pay increased to R15 186 in February but still remains 1.8% lower than what it was during the same period last year. Business Day TV unpacked the index with Independent Economist, Elize Kruger.
Analysts across the globe are questioning the viability of using cryptocurrencies as a form of payment. In South Africa, one of country's largest retailers Pick n Pay, is making it possible for customers to pay for items using crypto. Business Day TV caught up with the CFO of Luno Alwyn Jones, for a look at the adoption of crypto as a payment methodd.
Over the past two decades there has been a growing debate about the concept and state of globalisation, with some analysts questioning its relevance in a post-pandemic world. Business Day TV discussed the relevance of globalisation with Wits University's John Stremlau.
Al Jazeera’s recent ‘Gold Mafia’ documentary highlights the extent of gold smuggling and money laundering in Zimbabwe. Business Day TV spoke to Propser Chitambara, Development Economist at the Labour & Economic Development Research Institute of Zimbabwe for his analysis how this phenomenon is impacting Zimbabwe’s economy.
Master Drilling has given its shareholders a reason to smile. The global drilling group has upped its dividend by over 46% largely driven by a 12% rise in profit. Business Day TV unpacked the performance in greater detail with company’s CEO Danie Pretorius.
The International Criminal Court has issued a warrant of arrest for Russian President Vladimir Putin, for allegedly committing war crimes in Russia's ongoing invasion of Ukraine. South Africa, being a signatory to the ICC, would be obliged to arrest Putin and hand him over if he sets foot on its soil. Putin is expected to be part of a group of Brics leaders to attend the annual summit in South Africa in August. The spotlight is on South Africa to see if the country will follow the ICC's mandate or not. ANC national spokesperson Mahlengi Bhengu-Motsiri says the party has taken note of the ICC's decision and it is engaging its deployees in government to gain an in-depth understanding of the situation. This visit would place Ramaphosa's government, which has not condemned Russia's invasion of Ukraine, in a precarious position. To unpack this in more detail Business Day TV spoke to Tauriq Moosa, Legal Writer for Business Day Editorial.
Higher enrolments and growing demand for ADvTECH's services within Africa gave its performance a boost. The private education provider has delivered an 18% jump in revenue and a 20% increase in headline earnings per share to 146 cents. Business Day TV spoke to company's CEO, Roy Douglas.
Thungela Resources almost doubled profits, delivering a 97% surge in headline earnings per share to R130. This was mainly due to high coal prices. Business Day TV unpacked the company's full-year performance with CEO July Ndlovu.
On this episode of Trade of The Week, founder of Herenya Capital, Petri Redelinghuys, gives his analysis on Bidvest, Capitec and Thungela.
Business Day TV spoke to Lullu Krugel, Economist at PwC about how businesses on the continent are implementing Environmental, Social, and Governance (ESG) strategies
With generating units in and out of service and load-shedding ramping up again, Eskom is faced with another giant - municipality debt. According to Deputy President, Paul Mashatile, in 2022, Municipalities owed Eskom over R56 billion yet none of the metropolitan municipalities in the country feature in the top five owing Eskom billions of rands. Business Day TV unpacked this in greater detail with TimesLive's news reporter, Sinesipho Schrieber.
While all industries have been hard hit by load-shedding, the metal and engineering industry is arguably one of the biggest casualties. The sector is projected to lose 5.3% in production this year, up from an earlier forecast of 2.2%, and companies have collectively cancelled R2.64 billion worth of investments due to the impact of power cuts. Business Day TV spoke to Tafadzwa Chibanguza, COO of the Steel & Engineering Industries Federation of Southern Africa for more insight.
The nurses' strike may be over but the implications for the fiscus and service delivery will echo for years. The union says the reasons for the strike included the implementation of austerity measures, collapsed wage negotiations and the employer's "aggressive attack on collective bargaining". Business Day TV looked further into this with Luyolo Mkentane, Politics & Labour Writer for Business Day.
Remgro has weathered a tough economic environment. The investment holding company has delivered a 5% rise in its interim intrinsic net asset value and this allowed it to hike its dividend by 60% to 80 cents. Business Day TV unpacked the firm's numbers with CEO Jannie Durand.
High interest rates, power cuts and declining public spend have weighed on the construction sector. According to the Afrimat Construction Index, activity slipped 2.2% on a quarterly basis in the fourth quarter. Business Day TV unpacked that print with Roelof Botha, Advisor at Optimum Group.
Back in 2018 Gwede Mantashe was appointed South Africa's Minister of Mineral Resources and Energy, fast-forward to 2019 he had grand promises for the mining sector but has failed to deliver on exploration targets. Business Day TV spoke to Grant Mitchell, Head of the Junior and Emerging Miners Desk at the Minerals Council and John Paul Hunt, Principal Exploration Geologist at SRK for their assessment of the shortcomings.
The EU's carbon border adjustment mechanism has been labelled as a deeply unjust measure that could result in $16bn being wiped off the African continent's GDP. Business Day TV spoke to Deon Fourie, Senior Economist and Energy Expert at Oxford Economics Africa for more insight on those tariffs and its potential impact on the continent.
Following Heineken’s takeover of Distell, does it improve Remgro’s second go at the Sub-Saharan beer market post its failure in the 1970s? Business Day TV spoke to Marc Hasenfuss, Editor-at-Large of Financial Mail for his analysis.
Stuart Theobald, Project Director of the Sanlam ESG Barometer, asserts that there are two main reasons why ESG strategies exist and one of them is to help drive foreign investment. With the launch of Sanlam’s first ESG barometer, Business Day TV caught up with Theobald for more insight on how ESG commitments should boost foreign investment.
Eskom has resumed load shedding, and while the intensity of the power cuts may have eased, the business sector remains under pressure. Business Day Tv caught up with John Dludlu, CEO of the Small Business Institute for a look at how SMEs have been faring in this environment.
The ongoing global banking crisis has had markets in a frenzy over the past two weeks, and some analysts are comparing the turmoil in the banking industry to the crisis that hit markets in 2008. Business Day TV spoke to Old Mutual Wealth's Investment Strategist, Izak Odendaal for his take on the crisis.
The Russia-Ukraine war has rattled food security across the globe with the energy crisis and climate change further complicating matters. Business Day TV looked at food security threats on the continent in greater detail with Norman Celliers, CEO of AFGRI.
Stats SA has published the results of the Quarterly Labour Force Survey for the fourth quarter of 2022. The results show a small drop in the country's unemployment rate, with the official unemployment rate down to 32.7%. To unpack these stats and the dynamics of the South African labour market, Business Day TV spoke to Business Day's Companies Editor, Kabelo Khumalo.
Inflation surprised to the upside in February. The broad expectation was for the print to moderate to 6.8% during the period, instead it ticked up to 7% from 6.9% previously. This due to rising food and transport costs. Business Day TV unpacked the print in greater detail with Koketso Mano, Senior Economist at FNB.
What would an ANC-EFF coalition look like? According to Business Day's Editor-at-large, Peter Bruce, the coalition would preside over what he calls an 'unimaginable collapse'. Business Day TV spoke to Peter Bruce for his views on the parties' leadership styles and what a coalition would entail.
The Resource Mobilization Fund (RMF) was launched for the business sector to help capacitate the National Energy Crisis Committee (NECOM). According to Chair of the RMF, Martin Kingston, the RMF exists to receive and raise donations, procure capacity and skillsets, and donate these to the NECOM in support of President Ramaphosa's Energy Action Plan. Business Day TV spoke to Martin Kingston joined Business Day TV for more detail.
The collapse of big US banking players in the crypto industry, like Silvergate and Signature has left investors on edge. Business Day TV caught up with Luno's SA Country Manager, Christo de Wit for more perspective on the impact this had on cryptocurrencies.
Libstar's posted a 46% decline in its annual operating profit. During the period the consumer goods group had to contend with higher costs, increased levels of load shedding, elevated inflation, and a fire at one of its mushroom farms. Business Day TV spoke to CEO Charl de Villiers for more detail.
Exxaro has delivered double-digit profit growth, with headline earnings per share up 28%. The performance was mainly driven by higher coal prices and an increase in sales. Business Day TV discussed the company's annual performance with CEO Nombasa Tsengwa.
With an energy action plan in place, the newly appointed Minister of Electricity, Kgosientsho Ramokgopa, seems very confident that there will be an end to load-shedding. Tasked with getting Eskom's "big six" into a more reliable state, Ramokgopa told Financial Mail that with the support of the president, the ministers, and players in the ecosystem, he will succeed in taking down the Eskom beast. His backers believe he's the real deal, and up to the task. Business Day TV spoke to Natasha Marrian, Deputy Editor & Columnist for Financial Mail, to look into Ramogkopa's supporters and his plans to end load-shedding.
Ending load-shedding is his primary duty, his job is not permanent and the hope is that power cuts aren’t either. Business Day TV spoke to SA’s Minister of Electricity for more detail on his mandate and the task ahead.
Growthpoint has lifted it interim dividend by 4.6% off the back of a rise in net property income, and higher operating profit. Business Day TV unpacked the performance with CEO Norbert Sasse.
Cost control measures and higher enrolment numbers gave Stadio's full-year performance a boost. The private higher education group has posted a revenue increase of 11% while core headline earnings jumped 18%. This helped Stadio lift its final dividend by 89% to 8.9 cents. Business Day TV spoke to the company's CEO Chris Vorster for more detail.
The World Bank expects Mozambique to grow by 6% between 2023 and 2025 with LNG output increasing that prospect to 8% but with cyclone Freddy hitting the nation, can Mozambique weather the economic storm? Business Day TV spoke to Ridle Markus, SSA Macroeconomist at Absa CIB for his take.
Joburg Finance MMC Dada Morero told Business Day that the move to alternative energy sources is expected to put the squeeze on funds flowing to the city's power distribution utility. City Power is one of the biggest contributors to the city's total revenue, representing 43.8% in 2022. Business Day TV hosted Business Day's Energy Writer, Denene Erasmus for further details.
HomeChoice has more than tripled its final payout, dishing out a dividend of 77 cents per share. This comes as headline earnings per share grew close to 42% during the full year period. Business Day TV spoke to the company's CEO Sean Wibberley for more insight on the performance.
The manufacturing and mining sectors have started the year on the backfoot, with factory activity slipping 3.7% and mining output declining 1.9% in January. Business Day TV caught up with RMB's Foreign Exchange Structurer, Rayno Nigrini for his take on what this could mean for growth in the first quarter.
Cope's Murunwa Makwarela has resigned after presented a fake document of rehabilitation claiming he was not insolvent. On the other hand, ATM councillor, Mncedi Ndzwanana has been elected Tshwane council speaker, another loss for the Da-led coalition. The coalition, with a solid majority, expected would to clinch the speaker position but the IEC disqualified the 69 DA votes for contravening with the voting procedure. Sisanda Mbolekwa, Political Reporter for Sunday Times joined Business Day TV to unpack Tshwane's political action.
Old Mutual has benefitted from a drop in mortality claims. The insurer saw a 10% rise in annual headline earnings and kept its dividend unchanged as the outlook on economic conditions remains dim. Business Day TV spoke to the company’s CFO, Casper Troskie for his assessment of the performance.
Sun International has more than doubled its full-year profit, with headline earnings per share coming in at 226 cents. The performance comes as the casino, gaming, and hotel group benefitted from a rebound within the travel industry, as pandemic related restrictions eased. Business Day TV unpacked the results with company's CEO Anthony Leeming.
Absa has delivered a 15% rise in annual revenue and a near 14% increase in headline earnings per share, as the lender benefitted from higher interest rates. Business Day TV spoke to Absa's Financial Director, Jason Quinn for more on the performance.
On this week's show, founder of Herenya Capital, Petri Redelinghuys joins Business Day TV for a quan-tech-mental analysis on Shoprite, Sibanye-Stillwater and Sun International.
TimesLive is looking to explore the possibilities of the digital era. The new upweighted TimesLive experience gives users the opportunity to also enjoy leisure-time entertainment on the platform. Come for the news, stay for the entertainment! Business Day TV spoke to TimesLive Publisher, Bongani Siqoko, on what the group's CEO, Mzi Malunga, referes to as the best time of your content consumption life.
Sanlam has delivered an uptick in profit amidst a tough environment. During the annual period, headline earnings per share increased by 3%, and this allowed the financial services group to raise its dividend by 8% to just over R3. Business Day TV spoke to the Financial Director, Abigail Mukhuba for more on those numbers.
Property group Fortress Real Estate has recorded overall low vacancies, but it's still unable to pay a dividend, and it's dealing with the fallout of losing its real estate investment trust status. To unpack this in detail, Business Day TV spoke to Fortress CEO Steven Brown.
Coronation is said to be planning an appeal that will take its tax fight with SARS to the Constitutional Court. This, after the Supreme Court of Appeal ruled in favour of SARS, and decided that Coronation's Irish business qualifies for a tax exemption. The asset manager has been ordered to pay, with interest, an undisclosed tax bill that has been in dispute since 2017. The tax bill equates R900m, close to as much as 70% of Coronation's 2022 annual profit. Business Day TV spoke to Financial Mail's Writer-at-large, Ann Crotty for more.
ETF markets kicked of 2023 with a bang, as many riskier assets benefited from the reopening of China's economy. Despite the optimism analysts have warned that elevated inflation, high interest rates and the ongoing war in Ukraine still present risks to equity markets. Business Day TV discussed this with Channel Lead at 10X Investments.
Despite market turmoil and the delisting trend, the JSE has delivered profit growth. During the annual period headline earnings per share increased by 4% as Africa's largest bourse recorded revenue growth across its business segments. Business Day Tv caught up with CEO Leila Fourie for more on those results.
Business sentiment remains gloomy. In the first quarter, the RMB/BER Business Confidence Index fell to 36 points from 38 points in the fourth quarter. Owing to severe load-shedding, RMB says the print could have been much worse. Business Day TV unpacked the print in greater detail with Ettienne le Roux, Chief Economist at RMB.
Shoprite has delivered a 17% jump in its half-year revenue and a 10.2% rise in headline earnings per share. Despite the strong showing, the food retailer says profits could have been higher if it was not for the back-to-back power outages. Business Day TV spoke to the company's CEO, Pieter Engelbrecht.
Mpact has more than doubled its annual dividend to 115 cents. The paper and packaging company recorded strong profits on the back of higher demand for paper and plastics in South Africa. Business Day TV unpacked the numbers with CEO, Bruce Strong.
South Africa's economy has taken a knock. During the fourth quarter of 2022, GDP contracted by 1.3%, as all industries took a hit amid continuous power cuts. Business Day Tv unpacked the print with RMB's Economist Siobhan Redford.
The PwC Strategy's 2022 Open Banking and Payments Survey, shows cash remains the most dominant payment type on the African continent. Respondents were interviewed across three key African economies - South Africa, Kenya and Nigeria. Chantal Maritz, PwC Africa Payments Transformation Leader, said the results highlight the lack of varied digital payment acceptance mediums and infrastructure across all three African countries. Business Day TV spoke to Chantal for further details on the survey's findings.
President Cyril Ramaphosa has announced his much-anticipated cabinet reshuffle. One of the new appointees, Kgosientsho Ramokgopa, the country's new minister of electricity, is drawing most of the focus as he has been tasked with confronting the load-shedding crisis in the country. Financial Mail's Depuy Editor, Natasha Marrian, joined Business Day TV to look into the President's reshuffle.
Nedbank has posted a 20% rise in full-year profit for 2022 thanks to higher interest rates and a rebound in economic activity. But with South Africa's power supply crisis, Nedbank expects the economic environment to remain challenging. Business Day TV hosted Nedbank CFO, Mike Davis, to discuss the detail.
Bidvest has delivered strong half-year results, reporting a 14% rise in revenue while headline earnings per share came in 15.3% higher. This comes as most of its divisions performed well, with six out of seven divisions achieving real trading profit growth. Business Day TV unpacked the results with CEO, Mpumi Madisa.
African Rainbow Mineral's has weathered Transnet issues as well as rising diesel costs. That's as the diversified miner delivered a 40% jump in headline earnings per share, benefitting from higher coal and manganese prices. Business Day Tv caught up with company's CEO, Mike Schmidt for a deeper look into its interim performance.
Loyiso Mpeta gives his quan-tech-mental analysis of Multichoice, Adcock and Barloworld.
MTN Rwanda says it expects fintech to be the main driver for its business in 2023. The company is also aiming to achieve 100% population coverage with its network in the East African country. Investment in network and platforms remains a key priority, supporting MTN's strategy to drive digital inclusion and subscriber base inclusion. Business Day's Business Writer, Mudiwa Gavaza spoke to Business Day TV about the strategy.
The common belief is that the lack of regulation around cryptocurrencies makes the asset vulnerable to financial crimes. Crypto exchange, Luno however says that crypto is actually a terrible choice for scammers. Business Day TV dispelled the myth that crypto is a safe haven for criminals with Johan Hetzel, Head of Financial Crime at Luno.
The constitutional court has rejected President Cyril Ramaphosa's application to challenge the Phala Phala report. The court said it lacked jurisdiction in the matter. The president continues to maintain his innocence, arguing that the panel had relied on "hearsay" and speculation in determining the impeachment case against him. Natasha Marrian, Deputy Editor & Columnist for Financial Mail joined Business Day TV to unpack what this unanimous dismissal means.
Higher learner enrollment numbers boosted Curro's topline during its financial year. The private school group has delivered a 17% jump in annual revenue, but this did not translate to its bottom line, as impairments and finance costs weighed on the company, resulting in a 6% dip in profit. Business Day TV spoke to Curro's CEO Cobus Loubser for more detail
Higher interest rates have given FirstRand a boost. The lender has delivered a 15% jump in headline earnings, which helped it lift its dividend by 20% to 189 cents. Business Day TV discussed the company's performance with CEO Alan Pullinger.
Implats has been hit by a double-whammy. Persistent power cuts coupled with the rebuilding of a furnace resulted in a 9% drop in the miner’s interim production which is largely responsible for the group’s 2.1% drop in half-year headline earnings per share. Business Day TV unpacked the results in greater detail with the company’s CEO Nico Muller.
South Africa recently joined a number of other African countries on the Financial Action Task Force’s Greylist. Morocco, in the meantime, just managed to get off the list after nearly two years of being on it.
Business Day TV spoke to Jee-A Van Der Linde, Senior Economist at Oxford Economics Africa about the impact of Greylisting on African economies.
Higher gold prices have worked in Harmony Gold's favour. The miner has delivered revenue growth of 6% and an increase in headline earnings per share of 18% to 293 cents. Business Day TV unpacked the numbers with CEO Peter Steenkamp.
Aspen has reported a 15% drop in interim headline earnings per share dropping. The drugmaker says the decline was mainly due to inflationary pressures, supply chain issues as well as the loss of COVID vaccine sales. Business Day TV caught up with the CEO, Stephen Saad for more detail on the performance.
Murray & Roberts has slipped into the red, and posted an interim headline loss per share of 322 cents. The group says over the past three years, culminating in the last six months, it's suffered the devastating impact of the pandemic and the war in Ukraine, particularly on its Energy, Resources & Infrastructure business platform. Business Day TV spoke to CEO Henry Laas for more detail.
The net-zero emissions 2050 target has placed alternative energy sources firmly in the spotlight, and biofuel, which is a product of biomass is being eyed as substiute the use of fossil fuels on the continent. Business Day TV spoke to Yaa Ngonyama, Consultant at Frost & Sullivan for more on Africa's opportunities as far as biofuels are considered.
Cashbuild has posted a 39% drop in half-year headline earnings per share, amid a decline in home renovations spend. Business Day TV unpacked the performance in greater detail with CEO Werner De Jager.
According to Business Day, the automotive industry is not impressed with government's failure to present a policy that would encourage the local manufacturing of new energy vehicles (NEVs). David Furlonger, Editor-at-large for Financial Mail, spoke to Business Day TV about the concerns of the motor industry.
Jacques Pretorius from Sinayo Securities joins Business Day TV for a broader look at this afternoon market performance
South Africa's unemployment rate fell slightly in the fourth quarter and declined to 32.7% from 32.9% previously, supported by gains in the finance sector, along with private households. The level of youth unemployment, which is sitting it at just over 43%, remains a concern, as that age group accounts for over half of South Africa's employable population. Business Day TV discussed initiatives underway to tackle youth unemployment with the COO of the Youth Unemployment Service, Leanne Emery Hunter.
South Africa's government is accelerating its infrastructure spend for the next three years, with up to R903 billion allocated to improve roads, water supply, and to ensure that the country has high-speed internet. Business Day TV spoke to Sindisiwe Mosoeu, Infrastructure Finance Transactor at RMB, for more insight on these plans.
South Africa’s official unemployment rate edged lower during the fourth quarter, and decreased by 0.2 of a percentage point to 32.7%. The change reflects the addition of 169 thousand jobs to the country's workforce. Business Day TV unpacked the print in greater detail with Kevin Lings, Chief Economist at Stanlib.
An internal Eskom report shed light on how bosses at Megawatt Park gave verbal instructions to return a unit at Kusile to full capacity service, despite the failure of a critical component, which is costing the country more than two stages of load-shedding. Sabelo Skiti, Investigative Journalist for Sunday Times, joined Business Day TV to unpack the decisions taken.
Sentiment around South African banks soured slightly after the country was greylisted. Business Day TV caught up with Daniel Masvosvere, Senior equity analyst, for a look at whether this will have a longer-term impact on banks.
The Financial Action Task Force has put SA on its grey list. According to Business Day, the nation is likely to face a three-year slog, in order to get itself removed from this global list of 25 countries deemed to have inadequate anti-money laundering and counterterrorist financing controls. The greylisting is expected to have negative consequences, making it more costly and cumbersome to do business. Business Day TV spoke to Garth Theunissen, Investment Writer for Business Day, to unpack what the greylist really means for SA.
Treasury will be helping Eskom keep the lights on, after agreeing to take on more than half of the power utility's debt. This will help Eskom build on its operations and strengthen its balance sheet. Business Day TV caught up with Eskom's Chair Mpho Makwana and he shared more insight on the state of Eskom.
The local unit has lost most of its recent gains, remaining above R18 to the dollar. This comes as a greylisting announcement continues to weigh on sentiment. Business Day TV discussed the moves playing out in the currency space with RMB's Client Strategist, John Cairns.
Discovery has decided to keep cash on hand and has withheld its interim dividend, despite recording a 30% jump in normalised earnings. Business Day TV unpacked the numbers in greater detail with CEO Adrian Gore.
South Africa is battling the longest and most intense power cuts in its history. The Financial Mail reports that South Africans can't live without a functional Eskom. Business Day TV spoke to Financial Mail's Editor, Rob Rose, to unpack how close you can get to going off-grid in your home.
A panel of experts joined Business Day TV to discuss the tax implications from the 2023 national budget delivered by finance minister Enoch Godongwana. Experts include Khanyisa Cingo - Ngandu, Head Of Tax at SNG Grant Thornton, Osman Mollagee, Partner from PwC; Judge Dennis Davis, chair of the Davis Tax Committee and Pieter Faber, Senior Executive of Tax at SAICA.
Finance minister Enoch Godongwana delivered the 2023/24 national budget and Business Day TV's Noluthando Mthonti-Mlambo caught up with the Minister to discuss government's vision for the next fiscal year.
Business Day TV spoke to Tony Davey, Chartered Tax Advisor and Advocate at Tony Davey & Associates and Phillip Joubert, Manager at SAIPA for insight into how decision in the 2023 national budget could affect your finances.
A national budget tabled against the backdrop of intensified power cuts, high inflation and interest rates. Business Day TV spoke to Busi Mavuso, CEO of Business Leadership SA and Mike Brown, CEO of Nedbank for their take on how business is digesting what has been tabled in the current climate.
Business Day TV unpacks finance minister Enoch Godongwana's 2023 budget with Colin Coleman, Co-Chairman: Youth Employment Service, Lumkile Mondi from Wits University, Peter Attard Montalto of Intellidex and Development Economist at the Stellenbosch Business School, Nthabiseng Moleko.
Bidcorp has released results for the half year ended December 2022. The South African food services company reported a 45.5% jump in half-year earnings, benefiting from resurgent demand across the hospitality sector. Net revenue rose 28.1% to R91.8 billion but Bidcorp said operating conditions are likely to remain volatile with ongoing staff shortages, supply chain disruptions and stubbornly high inflation. Business Day TV unpacked the company's results with Bidcorp CFO, David Cleasby.
JSE-listed Super Group says it managed to navigate a global slowdown and intense power cuts in South Africa, by delivering double-digit interim revenues and profits for the six months to end December 2022. Group CEO, Peter Mountford joined Business Day TV to unpack the performance.
Sasol has reinstated its half-year dividend. The firm has dished out a payout of R7 per share, despite reporting mixed results, where earnings before interest and tax remained in line with the prior period at R24.2 billion. Business Day TV spoke to the company's CEO, Fleetwood Grobler for more detail on Sasol's interim performance.
Aveng has posted a 353% surge in interim headline earnings driven by a boost from the Australian market. This is the group’s fifth consecutive profitable period post a construction industry slump. Business Day TV unpacked the performance with company’s CEO Sean Flanagen.
Gauteng Premier, Panyaza Lesufi, has presented his first state of the province address. The address outlines ambitious plans for how the province plans to tackle crime. This, after Gauteng recorded the second-highest number of multiple murders in the country, with other crimes also on the rise. On the other hand, the DA-led Tshwane is set to elect its fifth mayor in eight years. This, after the resignation of Randall Williams. Business Day TV spoke to Sowetan's Politics Editor, Fikile Moya, for further details.
A number of firms globally appear to be cash flush, amid record share repurchase programs. In 2022 companies bought stocks worth $1.2 trillion and analysts expect firms to exceed this record in 2023. Business Day TV discussed the buyback trend with Adrian Saville, Investment Specialist at Genera Capital and a Professor at GIBS.
Anglo American Platinum's full-year performance took a knock. The miner's posted a 38% plunge in annual profit after a two month delay in its smelter rebuild hit sales. Amplats CEO Natascha Viljoen joined Business Day TV to unpack the numbers.
On Trade of the Week, Unum Hedge Fund Manager, Loyiso Mpeta provides technical analysis of Cigna Corporation, Advanced Micro Devices and Blackstone Inc.
With illegal mining on the rise in SA, a serious risk to the sustainability of the mining sector arises. This has now started to affect other sectors with City Power substations at risk of collapsing, and some residents forced to sell their homes - in fear for their safety. The Sowetan spoke to some of the residents in Florida Lake, where zama-zamas are mining illegally and Business Day TV spoke to Sowetan Journalist, Noxolo Sibiya to unpack the situation in more detail.
Finance Minister Enoch Godongwana will deliver the National Budget speech on the 22nd of February, against the backdrop of rising inflation, high interest rates and persistent power cuts. Business Day TV spoke to Pieter Faber, Senior Tax Executive at SAICA, for a look at his Budget 2023 expectations.
The Financial Action Task Force is set to hold a plenary in which it will decide on whether to put South Africa on a greylist of countries that have failed to meet the required standards. Ann Crotty, Writer-at-large for Financial Mail, spoke to Business Day TV to unpack what she calls the 'hypocrisy behind greylisting'.
Cryptocurrency prices have ticked up, shrugging off the tougher regulatory stance from the US government. Business Day TV spoke to the South African Country Manager at Luno, Christo de Wit for detail.
Analysts are growing weary of the US tech sector, despite the recent rally. Business Day TV caught up with Oanda's Senior Markets Analyst Craig Erlam for a look at whether the rally can be sustained even as the pessimism persists.
The hunt for South Africa's next power utility CEO has begun. Eskom recently published the CEO job spec on its website with hopes to have the right candidate by April. Trade union federation, Cosatu, has urged government to request outgoing Eskom chief executive, Andre de Ruyter, to remain at the helm of the power utility, until his replacement is appointed. So what skills will an ideal candidate need and who dares apply to replace De Ruyter, who says it's an unforgiving and dangerous job after an attempt on his life? Financial Mail's Deputy Editor and Columnist, Natasha Marrian spoke to Business Day TV about the hunt for the next Eskom CEO.
Emira Property Fund has lifted its dividend by over 17% after posting a 15% rise in half-year distributable earnings as it benefited from its strong geographic diversification. Business Day TV spoke to CEO Geoff Jennett for more detail.
DRDGold has posted a 7% jump in interim headline earnings per share, as it benefited from strong gold prices during the period which offset the impact of load-shedding on most of its operations. Business Day TV discussed the company's performance with CEO Niël Pretorius.
Finance Minister Enoch Godongwana will deliver the National Budget Speech on 22 February 2023, which aims to strike a balance between competing spending priorities and limited resources. Business Day TV spoke to Business Day's Editor-at-large, Hilary Joffe, about her budget expectations.
The diamond market is still shining bright, with research showing that the industry will grow from $2.4 billion in 2022 to $2.5 billion this year. This is largely due to the increasing population in developing countries such as China and India. Business Day Tv caught up with a player in that sector - CEO of Petra Diamonds, Richard Duffy for a greater sense of the industry's performance.
Investors have been eyeing government backed retail bonds, saying returns are greater as they are less likely to default. Business Day Tb unpacked the pros and cons with RMB's Fixed Income & Currency Analyst, Kim Silberman.
It's Valentine's Day and love might not cost a thing but, this year's comes against the backdrop of economic strains. However, the Floral industry is always in full bloom but do we have the financial means to support this year? Business Day TV stepped out to hear what you think about the cost of love; or flowers. Also, Janine Horn, Financial Adviser at Momentum Financial, shared her insights on the effects of inflation on the floral industry. That's right before Business Day TV took a look at where the most boom in South Africa's Luxury goods market is with Wanted Magazine's Manager of Luxury Brand Partnership, Celeste Khumalo.
South Africa's state-run companies have fallen victim to operational inefficiencies, financial mismanagement and poor governance. This includes Eskom, SAPO, Prasa, Transnet and SAA. Mark Barnes, former CEO of the SA Post Office; Bheki Mfeka, former economic advisor to the Presidency and Dawie Roodt, Chief Economist at Efficient Group joined Business Day TV to unpack the state of state-owned companies.
South Africans are in for a tax break, that's as the government introduced Section 12B - which allows for a tax deduction for certain qualifying assets used for electricity generation from renewable sources. Business Day TV caught up with CEO & Co-founder of Grovest Jeff Miller for more of the detail
Italtile has had a tough six months. During the half-year period the group reported a 6% decline in headline earnings per shares as the home improvement trend continued to wane. Business Day TV spoke to the company's CFO, Brandon Wood.
South Africans are looking for alternative energy sources as load-shedding reaches record levels and Ellies could benefit from this as it refines its product mix to meet demand. Business Day TV spoke to Business Writer for Business Day, Mudiwa Gavaza, about Ellies' plans to lure customers.
All eyes are on the Proteas women's team, as the first host of The ICC Women's T20 World Cup in Africa. Business Day TV unpacked the build-up to the tournament with Stuart Hess, Sports Reporter for Sunday Times.
All eyes are on President Cyril Ramaphosa as he gears up to deliver his annual State of the Nation address. Business Day TV caught up with Development Economist at Stellenbosch Business School, Nthabiseng Moleko and she shared her expectations ahead of the address.
President Cyril Ramaphosa's State of the Nation Address is set to take place as South Africans facing multiple socio-economic issues. The Financial Mail team profiled some districts and were exposed to a reality that contradicts the progress espoused by President Cyril Ramaphosa. Business Day TV spoke to Financial Mail's, Jaco Visser, to unpack the details of what the publication refers to as the 'real state of the nation'.
Amid a listing exodus, emerging miner Copper 360 is set to join the AltX board by the end of the month. Business Day TV spoke to the company's CEO Jan Nelson, for more insight on its plans.
Headwinds in the mining industry are coming to the fore with the Investing in African Mining Indaba entering its third day.
Despite headwinds, mining companies like Thungela Resources remain optimistic about the industry's prospects.
July Ndlovu, CEO of Thungela Resources joined Business Day TV to discuss the future of coal mining.
President Cyril Ramaphosa has delayed a cabinet shakeup, reportedly due to concerns that the reshuffle might overshadow the State of The Nation Address. Business Day TV spoke to Sowetan's Politics Editor, Fikile Moya, about his expectations for SONA, as well as his views of the delayed cabinet reshuffle.
Business Unity South Africa (Busa) has sent a letter to President Cyril Ramaphosa, and urged the Head of State to use the upcoming cabinet reshuffle to improve the performance of a government that has been slow to deliver on promises of economic reform. BUSA CEO, Cas Coovadia joined Business Day TV to unpack the note in greater detail.
All eyes are on President Cyril Ramaphosa, as he is set to deliver the State of the nation address on Thursday. Business Day TV caught up with RMB's Head of Research, Isaah Mhlanga ahead of the address for a look at the state of South Africa's economy.
Minister of Mineral Resources and Energy, Gwede Mantashe's opening address at the African Mining Indaba outlined areas of immediate focus in addressing rolling blackouts but it provided scant detail on how that would be achieved. South Africa's president, Cyril Ramaphosa, delivered a keynote address to more than seven thousand delegates at the event also addressing the issue. Business Day TV spoke to Business Day's Editor-at-large, Hillary Joffe, for her reaction to President Cyril Ramaphosa's address.åçåç
The popularity of ChatGPT has caught investors' attention, with tech firms now looking at investing in AI systems. Business Day TV caught up with Johan Steyn, a Human-Centered Artificial Intelligence advocate, and he unpacked the trends playing out in that space.
Peter Leon, partner and Africa chair at international law firm, Herbert Smith Freehills is calling for the uncoupling of the Department of Minerals and Energy, so that a new Minister of Energy can "fast track the changes to ensure that South Africa's energy sector can receive the urgent attention it deserves". Business Day TV spoke to Peter Leon for more detail.
As the world journeys to net-zero emissions by 2050, a lot of attention is on energy intensive users such as the mining industry which is still largely powered by fossil fuels. Business Day TV spoke to Dom Mills, CEO of SOLA group for his take on unlocking the future of African mining through clean energy.
The Johannesburg High Court has ordered the ANC to hand over the records of the work of the national cadre deployment committee, within five days. The records relate to the committee's work from January 2013 to January 2021, and according to Sunday Times Live, the order marks a major legal victory against the ANC for the DA. Sunday Times Reporter, Franny Rabkin, discussed the details of the court case with Business Day TV.
The 2023 Investing in African Mining Indaba is taking place under the theme 'Unlocking African Mining Investment: Stability, Security and Supply'. Business Day TV unpacked the indaba’s agenda with Henk Langenhoven, Chief Economist at the Minerals Council SA.
On Trade of the Week, Unum Hedge Fund Manager, Loyiso Mpeta provides technical analysis of local-based international companies with a focus on Woolworths, Bidcorp and Motus
Despite the somewhat dovish tone from the Fed, the rand continues to remain volatile. The local unit is trading above the R17 mark to the dollar, as factors like load shedding continue to weigh on sentiment. Business Day TV spoke to RMB's Shehnila Khan for more insight on the moves playing out in the currency scene.
Bitcoin's retreated from its recent rally, with the crypto's price remaining just above the $23,000 mark. Business Day TV discussed the activity playing out on that end with Luno's Christo de Wit.
South Africa's small and medium enterprises (SMEs) account for about 40% of gross domestic product and more than half of private sector jobs but the sector faces a credit gap. Lulalend is looking to help address the SME industry's financing needs, and Business Day TV spoke to the CEO of Lulalend Trevor Gosling, for more detail.
After revelations of R12bn rands' worth of 'artificial sweetener' to its accounts, Tongaat Hullet has seen scandal after scandal. While the group is in the midst of a business rescue process, Gavin Hudson has resigned as CEO and with over 500, 000 people dependent on its survival, Financial Mail's Editor, Rob Rose, joins us to debate whether Tongaat Hulett can be saved.
Despite rolling blackouts, the International Monetary Fund is quite positive about South Africa's growth prospects. That's as it lifted SA's economic outlook, pegging growth at 1.2% for 2023. Business Day TV caught up with the IMF's Max Alier and he shared insight on the group's outlook.
South Africa is experiencing a power crisis that is weighing on the economy. Business Day TV spoke to Alan Dickson, CEO of Reunert for a look at how the group is handling the impact of loadshedding and whether its investment in alternative energy is proving to be beneficial.
South Africa’s new vehicle sales market is improving, and Toyota is the brand of choice. Business Day TV spoke to Denis Dropa, Group Motoring Editor at Arena Holdings for an analysis of the country’s top three selling cars.
Illicit trade in South Africa has surged, fueled in part by the Covid-19 pandemic and a steep rise in the cost of living. Business Day TV caught up with Sinenhlanhla Mnguni, Chair of the Fair-Trade Independent Tobacco Association and Johann van Loggerenberg, former SARS Executive & Author of Tobacco Wars to discuss the impact the trade has had on the economy.
President Cyril Ramaphosa says the increasing price of electricity will add to the difficulties South Africans are already facing. In his newsletter, President Ramaphosa stated that government is considering additional mechanisms to address the rising cost of electricity. Sunday Times reporter, Sisanda Mbolekwaspoke to Business Day TV about the issue.
Equities have been dealt a number of blows over the past three years. Headwinds like Covid-19, the war in Ukraine and recession talks, have sent markets into bear territory and contributed to a big drop in stock prices. Business Day TV discussed how listed firms behave in bear and bull markets with FNB Wealth and Investments' Wayne McCurrie.
Independent analyst, Loyiso Mpeta gives insight into what the charts are saying for Apple, Regeneron Pharmaceuticals and 3M Company.
The Ghanaian government alleges that MTN under-declared its revenue by 30% in the 2014 to 2018 period. Earlier this month, the mobile operator announced that it was facing a tax assessment by the Ghana Revenue Authority. MTN has vowed to fight the tax claim in Ghana, stating that the rand equivalent of the assessment amount is R13bn, including penalties and interest charges. International relations & co-operation minister, Naledi Pandor, has called on MTN and Ghana to resolve the tax dispute stating that competitors from other parts of the world do not appear to be subjected to the challenges that SA companies face in Africa. Business Day TV spoke to Mudiwa Gavaza, Business Writer at Business Day for more.
The South African Reserve bank has slowed the pace of rate hikes at its first meeting of the year. The majority of the MPC agreed on a 25 basis point increase pushing the repo rate to 7.25%. Business Day TV spoke to Senior Economist at FNB, Koketso Mano for her analysis on the move.
SA Canegrowers is appealing to the government to put short-term measures in place to mitigate the impact of load shedding on the industry. The request comes as the sector is set to lose more than R700 million this year due to load-shedding. Business Day TV caught up with the Chairperson of SA Canegrowers, Andrew Russell for more detail.
The JSE has stripped Fortress of it REIT status, saying the property company no longer meets its minimum requirements. This follows a tussle between shareholders and executives, as they failed to reach an agreement on Fortress’ dual share structure. Business Day TV caught up with the company’s CEO, Steven Brown and CFO, Ian Vorster for more detail.
Poultry producer Astral Foods expects a huge drop in its headline earnings in its next half-year results, because of load-shedding as it looks to recover input costs by hiking selling prices. Business Day TV spoke to CEO of Astral Foods, Chris Schutte for more insight.
The idea of a new state bank has resurfaced, at a time when public trust in state-owned entities is critically low. Business Day TV discussed the viability of a state-owned bank with Kokkie Kooyman from Denker Capital
South Africa’s delegation at the World Economic Forum in Davos showcased the country as an investment destination amid a dire energy crisis. Business Day TV spoke to BrandSA's Sithembile Ntombela for a look at how South Africa was received at the WEF.
The South African Reserve Bank is expected to increase rates at its upcoming meeting and analyst forecasts range from a 25 basis point hike to a 50 basis point hike. Business Day TV spoke to Siobhan Redford, Economist at RMB for her view.
The South African Post Office is looking to reduce its working hours and retrench employees, as it seeks to cut its wage bill. Business Day TV spoke to SAPO CEO Nomkhita Mona for more detail on the current state of the utility.
For this week's trade of the week, independent analyst Loyiso Mpeta takes a look at insurance stocks by unpacking the technical analysis he's done on Discovery, Momentum, Old Mutual and Sanlam.
Even though African banks have proven resilient over the last two to three years, 2023 may be the year that global and domestic shocks undermine credit drivers for African lenders. This is expected to add to existing operating environment risks as highlighted by Fitch Ratings in its outlook for African banks this year. Mahin Dissanayake, Head of African Banks at Fitch Ratings spoke to Business Day TV about the research.
Eskom's board chair and CEO seem to have contrasting views on the outlook for electricity outages. Eskom chairperson Mpho Makwana has stated that permanent load-shedding will have to be implemented to give Eskom room to conduct the necessary maintenance to its power stations. While Eskom CEO, Andre de Ruyter says that permanent stage 2 and stage 3 load-shedding will not guarantee that Eskom could keep load-shedding at those levels. Busibness Day TV spoke to Business Day journalist Denene Erasmus for more.
There seems to be no light at the end of the tunnel in terms of the future of load-shedding. Government has given a timeline of 12 to 18 months to bring the power crisis to an end while Eskom Chair Mpho Mkwana suggests 2 to 3 years with permanent stage two or three of load shedding in place and Eskom CEO, Andre De Ruyter says "it's all too unpredictable." Will load shedding get worse before it gets better? To find out, Business Day TV spoke to energy analyst, Ted Blom for his views.
Karooooo had a strong third quarter and delivered record subscriber growth of 14% during the period, driven by strong demand. Business Day TV spoke to CEO Zak Calisto for more insight on the performance.
The JSE ended 2022 strong and analysts expect things to get even better in 2023, as they bank on emerging markets over developed markets. Business Day TV caught up with John Morris, South Africa Investment Strategist at Bank of America, for his market outlook.
The crypto market took a knock in 2022. Bitcoin shed over 60% of its value, as the market was rocked by macroeconomic issues like rising inflation and high interest rates as well as the collapse of FTX. Business Day TV spoke to Luno’s General Manager for Africa Marius Reitz, and he shared his 2023 outlook for the industry.
The poultry sector, which is yet to fully heal from pandemic-caused wounds, is now taking a fresh beating from persistent power outages. Business Day TV caught up with Izaak Breitenbach, Head of the SA Poultry Association's broiler board for more detail.
Commodity prices are on the up, largely due to optimism around China, with analysts expecting demand to improve as the world's second largest economy opens its borders. Business Day TV spoke to Investment analyst at Anchor Capital, Seleho Tsatsi for more insight.
BLSA CEO Busi Mavuso urges South African delegates to reinforce that the country is still a safe place for investment at the WEF, despite the economic predicament the country finds itself in. She joined Business Day TV to discuss South Africa's investment case.
Growth in China’s economy slowed to 3% in 2022, as Covid-19 related restrictions as well as a slump in its property market weighed. Business Day TV unpacked the print with Prescient Investment Management’s Liang Du.
The local bond market is proving to be resilient. Foreign investors are still seeing value in bonds, despite local issues like load-shedding weighing on South Africa’s economy. Business Day TV caught up with RMB's Michelle Wohlberg for her analysis of South African bonds.
Several political parties have threatened to protest against load-shedding and tariff hikes. For more insight Business Day TV spoke to DA leader John Steenhuisen.
The South African government is in talks with the World Bank on a fresh $1bn loan. Business Day TV spoke to AlexForbes economist, Murendeni Nengovhela for his take on the move.
Independent analyst, Loyiso Mpeta brings us technical analysis on Google, Sherwin Williams Company and Exxon Mobil.
Consumer prices have slowed, easing to 7.4% year on year in November. This however is still above the Sarb's target range of 3-6% Business Day TV unpacked the data with RMB Economist, Siobhan Redford.
President Ramaphosa is still in the running to be re-elected as ANC president. This thanks to ANC MPs heeding the call to toe the party line with regards to voting against the adoption of the Phala Phala report saving him from an impeachment process ahead of the 55th national elective conference. Business Day TV spoke to Political Analyst Xolani Dube for his analysis of what is playing out in the political arena.
In a move that could strengthen energy security in South Africa, Renergen has started delivering liquefied natural gas. This is the first domestically produced, commercial LNG from Phase 1 of its Virginia gas project. Business Day TV spoke to the company's CEO, Stefano Marani for more of the detail.
After weeks of turmoil, Bitcoin is still struggling to recover from the FTX fallout - trading below that $17 000 mark. Business Day TV discussed the moves paying out with Marius Reitz from Luno
South Africa's economy is reeling under the most severe electricity blackouts, with analysts saying there is a high likelihood that the country will be forced into stage 7 load shedding before the weekend.
Energy Analyst, Ted Blom joins Business Day TV to make sense of South Africa's power crisis.
Annual house price growth is slowing down, this comes consumers contend with rising interest rates and hot inflation, further weighing on South African’s spending power. This has resulted to many prospective homeowners opting to rent rather than buy. Business Day TV spoke to Senior Economist at FNB, Siphamandla Mkhwanazi for more of the detail.
South Africa’s economy has expanded, growing by 1.6% in the third quarter. The positive data was mainly driven by gains from the agricultural and mining sectors. Business Day TV spoke to AlexForbes Economist, Khanyisa Phika for more of the detail.
Upbeat GDP data has given the rand a boost but traders are still concerned – keeping an eye on how the Phala Phala scandal plays out. Business Day TV caught up with RMB Fixed Income and Currency Analyst, Kim Silberman for a closer look at the currency scene.
Nampak has been hit by a triple whammy - forex losses, higher interest rates and increased impairments. Business Day TV spoke to the group's CEO, Erik Smuts to find out how the firm is managing this and strengthening its balance sheet.
The strong commodity market and a weaker rand against the dollar has resulted in Tharisa delivering its strongest set of financial results. Business Day TV explored the group's performance with Tharisa CEO, Phoevos Pouroulis.
In Trade of The Week, Independent Analyst Loyiso Mpeta gives a quan-tech-mental analysis on JSE property counters.
South Africa's largest food producer, Tiger Brands has delivered a double-digit dividend increase. This comes as the company battled a high inflation environment and with consumers under economic pressure. CEO, Noel Doyle, joins us now for a further unpacking, of Tiger Brands' results and annual performance.
The presidency has postponed an address that was supposed to give Ramaphosa a chance to respond to the legal allegations he is faced with, Business Day TV is joined by Financial Mail deputy editor & columnist, Natasha Marrian for some analysis
BlackRock has released its markets outlook for 2023. The global asset manager taking a cautious approach as it warns of a recession on the back of rising interest rates. Business Day TV spoke to BlackRock’s Chief Fixed Income Strategist, Scott Thiel for more of the detail.
Momentum in the manufacturing sector is picking up. That as the Absa PMI ticked up to 52.6 points in November as business activity and new sales orders improved for a second consecutive month after plunging during peak load shedding in September. Business Day TV unpacked the print with Absa Senior Economist, Miyelani Maluleke.
Five-thousand business owners across South Africa, Kenya and Nigeria have graduated from Google’s Hustle Academy where growing African SMMEs revenue and investment potential was a key focus. Business Day TV explored these aspects in greater detail with Siyavuya Madikane from Google SA.
Two days before Janusz Walus’ scheduled parole release, correctional services confirmed that he survived a stabbing incident in prison. While he recovers, the ANC, SACP and Cosatu have embarked on protest march against his release. Business Day TV spoke to Sowetan's Political Editor, Fikile Moya for his take on the matter.
According to the FNB/BER Building Confidence Index , sentiment among builders edged lower in the fourth quarter falling to 33 points from 34 points in the third quarter. Business Day TV spoke to Craig Lemboe, Senior Economist at the Bureau for Economic Research for more insight on what the findings of the index suggest for the future of the sector.
African Bank has delivered double digit growth in earnings as its annual profit after tax grew by 38%. The improvement comes as the number of loans it gave to its customers grew to above pre-covid levels, further boosting revenue earned from interest. Business Day TV spoke to the company’s CEO, Kennedy Bungane for more of the detail
A positive trajectory of demand for Capital Appreciation's products and services continues to propel the fintech group forward.
Joint CEO, Brad Sacks joined Business Day TV to discuss the group's interim performance
South Africa’s cement industry is crumbling under what the producers call a toxic cocktail of factors.
Business Day’s Energy Writer, Denene Erasmus wrote the article and unpacked it in greater detail with Business Day TV.
Vukile Property Fund has given its shareholders a reason to smile. The REIT has hiked its interim dividend by nearly 17%. This as the group managed a 6.6% rise in net asset value despite battling the high interest rate environment. Business Day TV unpacked the performance in greater detail with the company’s CEO Laurence Rapp.
African print is increasingly being used by leading brands. To unpack what opportunities this creates for African creatives, Business Day TV spoke to Mzukisi Mbane, Creative Director of Imprint.
Durban's once-popular blue-flag holiday beach status has lost its appeal. The city has always attracted tens of thousands of festive season tourists but the state of its beaches due to decaying and flood-ravaged sewerage infrastructure may now result in tourist numbers dropping. Journalist, Mary Papayya spoke to Business Day TV about the story.
Siruis Real Estate recently entered the UK market through the acquisition of BizSpace, a provider of flexible workspace. Business Day TV spoke to the company's CEO, Andrew Coombs for insight into the firm's strategy.
Barloworld is preparing to list its car-rental business. The new firm will be known as Zeda and its shares will start trading on the JSE on December 13. Business Day TV spoke to Zeda CEO Ramasela Ganda for more detail.
Hotels group Southern Sun says trading levels during its first half have been encouraging with occupancy increasing to 46% from 22% in the prior comparative period. The group has also returned to profitability with adjusted headline earnings of R17m. Business Day TV unpacked the results in detail with Southern Sun CEO, Marcel von Aulock.
The South African Reserve Bank (Sarb) has hiked interest rates as a measure to address stubbornly high inflation which has been outside the bank's target band for six months. For a look at the reasoning behind the decision and where South Africa's economy is headed, Business Day TV spoke to Koketso Mano from FNB.
Telkom’s headline earnings per share has dropped by 51.9%. A decrease in fixed, mobile and IT services revenue is largely behind the fall as migration to new tech weighs on the group. Business Day TV unpacked the performance in greater detail with company’s CEO Serame Taukobong.
Business morale remain subdued with the RMB/BER Business Confidence Index falling to 38 points during the fourth quarter. That’s after a rebound in building confidence offset downbeat morale in the wholesale and retail sectors. Business Day unpacked the print with Chief Economist at RMB, Ettienne le Roux.
Momentum in the construction sector seems to be picking up. That's as Infrastructure South Africa confirmed that about 48 projects worth R193 billion are currently being built. Business Day TV spoke to RMB's Siyanda Mflathelwa for more of the detail.
Hyperinflation in Zimbabwe has distorted Omnia's results. During the half-year period, headline earnings per share (HEPS) increased by 3% but when the Southern African nation's operations are excluded adjusted HEPS grew 31.9% to 401c, boosted by a 19% jump in revenue. To make sense of the numbers, Business day TV spoke to Omnia's CEO, Seelan Gobalsamy.
South Africa's government says it's urgently looking into making funds available for Eskom so that the state electricity utility can buy the diesel it needs to fuel auxiliary power plants and prevent load-shedding from intensifying. Efficient Group chief economist Dawi Roodt believes the state can do this but says that the more logical approach would be for Eskom to cut costs as a way to fund the diesel purchases. Business Day TV spoke to Roodt for his take on the situation.
In Trade of The Week, Independent Analyst Loyiso Mpeta gives a quan-tech-mental analysis on Impala Platinum, Northam Platinum and Royal Bafokeng Platinum.
Cement producer PPC has delivered what it calls a 'sound performance' for the six months to end-September as group revenue rose 9% to R4.2bn. This however excludes the group's Zimbabwean operations which have suffered under the weight of hyperinflation. Revenue including Zimbabwe fell 1%. Business Day TV spoke to PPC CEO Roland van Wijnen for more detail.
Astral Foods has delivered a surge in profit. During the annual period the poultry producer’s headline earnings per share more than doubled to R27.62. This helped boost Astral’s payout to shareholders, as it declared a total dividend of R13.80, reflecting a rise of 97%. Business Day TV discussed the factors that drove growth with the company’s CEO, Chris Schutte.
Netcare has reported a healthy set of annual results. The private hospital operator recorded a 5.4% rise in total paid patient days as it recovered from the impact of the Covid-19 pandemic. This further boosted profit, with headline earnings per share rising 20.3%. Business Day TV spoke to CEO, Richard Friedland for more detail on Netcare's full-year financial performance.
Life Healthcare has rewarded shareholders with a total dividend worth 40 cents, this despite recording a 4.5% fall in headline earnings per share. Business Day TV caught up with company’s CEO, Peter Wharton-Hood to discuss the factors weighing on its full year performance.
Britain’s finance minister, Jeremy Hunt has unveiled the country's autumn budget, saying that the UK is now officially in a recession. And in an attempt to deal with the current economic situation, Hunt said government would increase taxes and cut down on spending. Business Day TV got some on the ground analysis from Oanda’s senior markets analyst, Craig Erlam.
South African Breweries is shaking things up, as it unveiled its new strategy which would position the business for future growth opportunities. Business Day TV spoke to SAB’s CEO, Richard Rivett-Carnac for more.
Retail sales have slip, dipping 0.6% on an annual basis, in September. This was largely due to downbeat performances from retailers in hardware, paint and glass and food, beverages and tobacco. Business Day TV unpacked the print with Chief Economist at Investec, Annabel Bishop.
Dipula Income Fund has published its results for the year ended August 2022, reporting an increase in revenue of 3% to R1.35 billion. While distributable earnings remained stable at R552 million. Business Day TV caught up with CEO Izak Petersen to discuss the performance in greater detail.
South African’s should prepare for darker times. Eskom has warned of more rounds of power cuts this year, as maintenance issues are set to weigh on the state utilities ability to supply electricity. Business Day TV spoke to Eskom's Chief Operating Officer, Jan Oberholzer for more.
The rand has staged a rebound - trading under the R18 mark to the dollar, further showing signs that it might end the year on a positive note. Business Day TV discussed the factors driving activity in the currency scene with RMB's Client Strategist, John Cairns.
Join independent analyst Loyiso Mpeta as he shares technical analysis on Coronation, City Lodge and Sappi
COP 27 draws to a close and the world works towards net zero emissions, Shoprite eyes ambitious environmental sustainability targets over the next 3 years. In our newsroom crossing Business Day’s Energy Writer, Denene Erasmus looked into those targets and assessed the group’s plans.
Vodacom’s interim profit has taken a 9% knock as costs related to its Ethiopia launch bites. As such, the group has also slashed its dividend by 19%. Business Day TV unpacked the results in greater detail with company’s CEO Shameel Joosub.
Statista Market Forecast projects that Africa’s fashion revenue will grow to $7.73 billion this year. Africa Fashion International is seeing demand pick up and will be opening a second House of Nala store in response. Business Day TV explored the continent’s fashion market in greater detail with Precious Moloi-Motsepe, Founder and Executive Chair of African Fashion International.
The annual decline in mining output has persisted for eight months. Mining production decreased by 4,5% in September, with the largest negative contributors being iron ore and gold.
Business Day TV caught up with Mining Analyst, Peter Major to discuss what’s behind the decline in the sector.
The crypto market is in turmoil with major coins like bitcoin plunging for a second straight session. This comes after Binance abandoned the FTX deal. Business Day TV discussed these moves in detail with South Africa's country manager at Luno, Christo de Wit.
Multichoice has released interim results, recording a 5% rise in its user base and a 7% jump in revenue. This however did not fully translate into its bottom line, as earnings were impacted by a big investment in decoders ahead of the upcoming 2022 FIFA World Cup. Business Day TV spoke to Multichoice's CFO Tim Jacobs for more.
As Cop27 is underway, the World Gold Council has been urging gold miners to plan further for climate change risks. In its latest report the council outlined a range of adaptation strategies, to help gold miners remain resilient. Business Day TV spoke to the council's Climate Change Lead, John Mulligan
Alternative stock exchange, A2X, has managed to save the investment market R500 million a year. This is largely due to lower trading fees and its ability to narrow the bid-offer spreads of the prices of listed securities. Business Day TV caught up with the company's CEO, Kevin Brady.
Midterm elections have kicked off in the USA, and we've had polls reveal that the Republican Party, is on the verge of taking back control of the US House of Representatives, for the first time in four years. What would this mean for policy, and relations, with countries like South Africa? Business Day TV spoke to John Stremlau, from Wits University's International Relations Department for more.
The oil price has taken a hit as Covid-19 outbreaks in China heightened fears of lower fuel demand. Business Day TV discussed the moves playing out in that space with commodities trader at RMB, Raymond Phillips.
Increased activity in most of Raubex’s projects has given it a boost. The construction and materials group delivered a 16% jump in headline earnings per share and this further resulted in a 12.7% increase in its interim dividend. Business Day TV unpacked the numbers with the company’s CEO, Felicia Msiza.
Business Day TV speaks to Khaya Sithole about Finance Minister Enoch Godongwana's announcement that companies no longer need to be BEE compliant, to bid for business with SOEs like Eskom, Prasa and Transnet.
The traditional Barbie doll went on display at a Toy Fair in New York for the first time in March 1959.
Years later, there’s interest in African dolls. The Middle East and Africa are currently two of the fastest growing toy markets in the world. Business Day TV explored the African doll market in greater detail with Thabo Motsabi, Co-Founder of Toys with Roots.
Against a backdrop of difficult macroeconomic, geopolitical and regulatory conditions across markets, MTN has reported a resilient overall performance for the nine months to end-September. Business Day TV spoke to MTN President and CEO Ralph Mupita for more detail.
The dollar index has appreciated by 25% since mid-2021. The strength however has hit emerging market currencies, and central banks within the region have had to fight back by raising rates in an attempt to protect their currencies. Business Day TV spoke more about this with Senior Emerging Market Economist at Schroders, David Rees
Nedbank has adjusted South Africa's GDP growth lower for 2023 on the back of slower global growth and a lack of electricity. Business Day TV unpacked this in greater detail with Jones Gondo from Nedbank CIB.
Dis-chem has reported upbeat half-year results, delivering a 44.3% jump in headline earnings per share as consumers shopping routines returned to pre-pandemic levels. Business Day TV unpacked the numbers with company's CFO, Rui Morais.
Risk assets ended off October on a positive note, with the Dow Jones posting its biggest monthly gains since 1976 and the JSE All Share recording a 6% rise last month, outperforming its emerging market peers. Business Day TV caught up with the Head of Product at CoreShares, Chris Rule and he shared more detail on how the positive sentiment is filtering through to the ETF market.
Elon Musk has finalised the Twitter takeover deal, acquiring the social media platform for $44bn. Business Day TV caught up with Co-Founder & CIO: Anbro Capital, Craig Antonie and he shared his take on the takeover and Twitter going private.
Trade in currency markets has been choppy, as traders await the Fed's interest rate decision. Business Day TV spoke to RMB's Client Structurer, Shehnila Khan for more detail on how the rand has been performing.
Adcorp says this is the first time since August 2018 that it has reported a rise in revenue over the prior year period. Business Day TV spoke to Adcorp CEO John Wentzel for insight into the company’s performance.
Sectional title developer Balwin Properties says it has benefited from semigration as growing demand for apartments in the Western Cape helped lift the number of apartments recognised in its revenue for the period end-August by 7.85% to 1,360. Business Day TV spoke to Balwin Properties CEO Steve Brookes for more detail.
In Trade of The Week, Independent Analyst Loyiso Mpeta gives a quan-tech-mental analysis on the JSE, British American Tobacco, AB-InBev and Mondi PLC.
Minister in the Presidency, Mondli Gungubele has rejected the U.S warning of a terrorist attack on South Africa and Deputy Minister of State Security, Zizi Kodwa has criticized the U.S for not following protocol when it issued the warning. Business Day TV spoke to Graeme Hosken, Investigative Journalist for Sunday Times for more detail.
South Africa has joined many other countries tightening regulation on digital assets. This comes as the Financial Sector Conduct Authority declared cryptocurrencies as financial products. Business Day TV discussed what this means for the industry with the Head of Legal at Luno, Paul Harker.
Afrimat has reported a 7.2% rise in revenue, but this did not translate into its bottom line as headline earnings per share declined by 14.2%. The building materials and mining group says during the interim period it had to deal with lower iron ore prices, the economic slowdown and increased input costs. Despite this, its kept its dividend unchanged at 40 cents per share. Business Day TV unpacked the results with CEO, Andries van Heerden.
Technology firm EOH has narrowed its annual headline loss per share to 18 cents. Business Day TV spoke to EOH CEO Stephen Van Coller for insight into the improvements at the company that are translating into balance sheet gains.
Finance Minister Enoch Godongwana has tabled his medium-term budget policy statement, which made clear that long-term economic growth expectations still remain bleak. Business Day TV explored the budget statement in greater detail with Gina Schoeman, Economist at Citibank.
Finance minister Enoch Godongwana has ditched the initial tough love approach when it comes to dealing with state owned enterprises. That's as government used its improved fiscal position to bailout the likes of Sanral, Transnet and Denel. The minister in the meantime did not grant Eskom more funding, but government has agreed to take on a large sum of its debt. Business Day TV spoke to treasury's acting deputy general, Ismail Momoniat for insight into Treasury's thinking around the MTBPS.
Better-than-expected revenue collection from businesses and South African citizens has given government's coffers a boost, with the gross tax revenue estimate revised up by R83.5bn. Business Day TV spoke to Sars Commissioner, Edward Kieswetter for more detail.
Just weeks ahead of a crucial shareholder vote, Gold Fields is talking shop to try win more support for its proposed takeover of Yamana Gold. This comes as some investors have expressed concern about the transaction, saying its too expensive. Business Day TV spoke to Mining Analyst at Mergence Corporate Solutions, Peter Major for his take on the proposed deal and Gold Field's logic.
The Land Bank has resumed lending to the agricultural sector, after a two year lending hiatus, by launching a R1.95bn blended finance scheme to support the commercialization of black farmers. Land Bank's Executive Manager for Strategy and Communications, Sydney Soundy joined Business Day TV to unpack the scheme in greater detail.
In Trade of The Week, independent analyst Loyiso Mpeta gives a Quan-tech-mental analysis on Remgro, Brait and Sabvest.
Spear Reit has reported its half-year performance. For the period, rental collections reached 97.56%, while growth in distribution per share came in at 12.3%. The group achieved this as it continues to emerge from the COVID-19 environment. Business Day TV caught up with Co-founder & Chief Executive Officer, Quintin Rossi for more.
Steinheist, the book, details the collapse of Steinhoff in 2017. Business Day TV caught up with author of the book and Editor of Financial Mail, Rob Rose for more on how he tackled the issue.
In the run-up to the Medium Term Budget Policy Statement, Public Service and Administration Acting Minister Thulas Nxesi is strongly considering pushing through a 3% salary hike for public servants. The public sector wage bill is already bloated at R660 billion. Business Day TV spoke to Labour Consultant, Tony Healy from Tony Healy and Associates about the broader cost implications of an increase of that nature on the South African economy.
According to some analysts there's been discrepancies with how financial institutions - like the World Bank - fund different emerging market economies. Business Day TV caught up with Gemcorp Economist, Simon Quijano-Evans and he shared more insight on the discrepancies.
Clicks has delivered upbeat annual earnings, reporting an 11.9% increase in adjusted diluted headline earnings per share. That’s as South Africa's largest pharmacy group benefitted from a recovery in its beauty segment and the administration of more covid-19 vaccines. Business Day TV unpacked the numbers with the company's CEO, Bertina Engelbrecht.
Scopa Chair, Mkhuleko Hlengwa says that the Steinhoff matter will be back on the agenda following Markus Jooste’s key assets being attached by the South African Reserve Bank for his hand in contravening exchange controls as far as the collapse of Steinhoff is involved. Jooste appeared before Scopa in 2018 when Themba Godi was still chair. Business Day TV caught up with Godi for his take on the pace at which some form of justice is being served.
Risk equities took a knock in the third quarter, with US, European and local shares all falling. This comes after hopes of interest rate cuts were dashed, as policymakers confirmed their commitment to fighting inflation. Business Day TV caught up with Chief Investment Officer at Anchor, Nolan Wapenaar to discuss his markets outlook as the volatile environment persists.
MTN has walked away from talks to buy Telkom. The deal would've created South Africa's largest mobile phone operator. But MTN says it ended negotiations because Telkom couldn't assure that the discussions were exclusive. Business Day journalist, Mudiwa Gavaza, who's been closely following the story, spoke to Business Day TV about the development
The Reserve Bank has seized more than R1.4bn worth of assets belonging to former Steinhoff CEO Markus Jooste, his wife and his family trust. Analysts have welcomed this as a sign that the law enforcement authorities are beginning to move on the case. For more detail, Business Day TV spoke to legal expert Mannie Witz.
According to research by DFM global, the South African bond market has recorded huge outflows in 2022, as riskier assets took a hit. To discuss the factors weighing on bonds, Business Day TV caught up with RMB’s Fixed Income & Currency Analyst Kim Silberman.
State-owned logistics firm Transnet has agreed to a wage increase over the next three years after reaching a deal with the union representing the majority of its workers. But this means Transnet employees affiliated with Satawu will remain on strike. Business Day TV caught up with Yolisa Kani, Chief Business Development Officer at Transnet for more.
Pick n Pay has bagged a 52.7% rise in profit after tax for the 26 weeks to end-August but the increase comes off a low base as the prior period's performance was hampered by riots in KwaZulu-Natal and restrictions on liquor sales. To unpack the dynamics, Business Day TV spoke to Lerena Olivier, CFO of Pick n Pay.
Calgro M3’s residential property business has performed well, further offsetting the poor showing from its memorial parks. During the half-year period the company reported a 5.4% increase in revenue and a 33% jump in headline earnings per share. Business Day TV unpacked the numbers with CEO, Wikus Lategan.
In Trade of The Week, Independent Analyst Loyiso Mpeta gives a Quan-tech-mental analysis on The Sherwin-Williams Company, Chevron Corporation, M&T Bank Corporation and Eli Lilly and Company.
The European Union is a step closer to regulating the cryptocurrency industry as lawmakers have signed off on regulation that introduces a licensing regime for crypto wallets and exchanges to operate within Europe. Business Day TV looked at the detail of this with the head of legal at Luno, Paul Harker.
Karooooo says it hopes to expand the number of Cartrack subscribers by close to a fifth in its 2023 financial year as it looks to position itself as a leading global mobility software-as-a-service platform. Business Day TV took a closer look at these ambitions with the group's CEO, Zak Callisto.
African Bank says that all the conditions precedent to the Grindrod Bank transaction have been met and all regulatory approvals have been obtained. This sets the stage for the merger to now take place. Business Day TV caught up with Zwelibanzi Manyathi, group executive for business banking at African Bank for more insight into the transaction.
In a move that has ramped up tensions between Washington and Beijing, the US has implemented new export control measures which have knocked the semiconductor industry. Business Day TV discussed this in detail with the Head of Product at Prescient China, Tian Pan.
The UK’s economy has unexpectedly contracted, falling 0.3% in August. And this has strengthened predictions that Britain’s economy will fall into a recession. Business Day TV caught up with Senior markets analyst at Oanda, Craig Erlam to discuss the factors weighing on the UK.
Sirius Real Estate says it continues to experience rental growth in the UK and Germany, citing high demand. Business Day TV caught up with CEO, Andrew Coombs to discuss whether the momentum will continue as geopolitical uncertainty and high inflation weigh down global economy.
RMB is stepping in to address food security concerns. The firm has launched a platform that'll assist farmers to gain access to alternative funding as the Land Bank struggles to pour more money in that sector. Business Day TV spoke to RMB's Senior Coverage Banker, Wimpie Snyman for more detail.
AfroCentric is mulling an offer from Sanlam. The financial services group, that is already invested in one of AfroCentric's subsidiaries has offered to acquire a controlling stake in the firm. Sanlam is offering R6 per share, and shareholders have an option to choose between cash or receiving Sanlam shares. Business Day TV spoke to AfrocCentric's CEO, Ahmed Banderker for more insight.
The New York Stock Exchange and the Johannesburg Stock Exchange have signed a memorandum of understanding ont he dual listing on both bourses. For more detail on how this will work, Business Day TV spoke to the JSE's chief of staff Fatima Laher.
Efficient Group chief economist Dawie Roodt says South Africa is showing signs of a failed state and is basically at ground zero. Business Day TV unpacked this with Roodt in more detail.
Transnet's application to interdict a strike by members of the SA Transport and Allied Workers Union has been thrown out by the labor court. The union is now set to join the strike. SATAWU spokesperson Amanda Tshemes spoke to Business Day TV to detail the union's position.
Join Petri Redelinghuys from Herenya Capital as he details what he's picking as his trade of the week.
Oil prices have soared after Opec+ agreed on slashing production by 2 million barrels per day. Business Day TV discussed what this move means for oil markets going forward with David Elmes from the Warwick Business School.
Rio Tinto's South African unit, Richards Bay Minerals has taken its first step towards reducing carbon emissions through the use of renewable solar power. The mining group has agreed on a landmark deal with international energy company Voltalia. This will also work as an alternative electricity supply as South Africa's rolling power cuts continue to hammer productivity. Business Day TV caught up with Werner Duvenhage, the MD of Richards Bay Minerals for more.
The World Bank says out-of-control inflation is taking its toll on South Africa and other Sub-Saharan countries, but there is not enough fiscal space to respond. The Bank has further urged African Governments to restore macro-economic stability and protect the poor in a context of slow growth and high inflation. Business Day TV caught up with Andrew Dabalen, World Bank Chief Economist for Africa to discuss Africa’s Pulse in greater detail.
Equites Property Fund’s focus on logistics property is paying off. During the interim period the company reported a 4.1% rise in distributions per share while vacancy rates remained low at 0.1%. Business Day TV unpacked the results with CEO, Andrea Taverna-Turisan.
The World Bank says out-of-control inflation is taking its toll on South Africa and other Sub-Saharan countries, but there is not enough fiscal space to respond. The Bank has further urged African Governments to restore macro-economic stability and protect the poor in a context of slow growth and high inflation. Business Day TV caught up with Andrew Dabalen, World Bank Chief Economist for Africa to discuss Africa’s Pulse in greater detail.
South African banks have recorded a strong earnings season, benefitting from rising interest rates. This has assisted major banks like Capitec, Nedbank, Absa, Standard Bank and FNB – which is owned by FirstRand – deliver upbeat profits and hefty payouts. Business Day TV discussed whether these earnings are sustainable going forward with Senior Equity Analyst at Ashburton Investments, Daniel Masvosvere.
Emerging market currencies have been taking a hit on the back of the stronger dollar and in an attempt to protect these currencies, emerging market central banks have turned to tightening their monetary policy. Business Day TV discussed whether this move has worked for emerging market currencies with RMB's Fixed Income and Currency Analyst, Kim Silberman.
Toto investment Holdings, has become a losing bidder in the sale of the 51% majority stake in SAA. This was after the group approached the court in a bid to force Minister Pravin Gordhan and the DPE to make records of the sale public and to interdict the sale of the shares. Business Day TV caught up with legal expert, Minah Tong-Mongalo to discuss the merits behind this court decision.
After last year’s record IPO year, listings have slowed down this year with global IPO volumes hitting levels last seen during the 2008 financial crisis. Business Day TV discussed some of the factors driving the public market exodus with Wealth Manager at PSG Wealth, Schalk Louw.
Intense power cuts have darkened the outlook for the manufacturing sector. With the ABSA PMI figure revealing that the activity has declined to 48.2 points, meaning that the Absa PMI is now in negative territory. Absa's Senior Economist Miyelani Maluleke joined Business Day TV to unpack the data in greater detail.
Deloitte Africa's Martyn Davies argues that South Africa needs to accelerate its adaptation to technological shifts in the automotive sector if there's any hope for maintaining and growing the domestic automotive industry. He joined Business Day TV to discuss other ways to grow SA's automotive sector
The third quarter of 2022 draws to a close with monetary and military hawks prevailing, and financial markets nursing some of the worst setbacks in decades.
Russian President Vladimir Putin is set to host a Kremlin ceremony later today annexing about 15% of Ukraine, after what Ukraine and Western countries said were sham votes staged at gunpoint in Russian-occupied areas of Donetsk, Luhansk, Kherson and Zaporizhzhia.
Washington and the European Union are set to impose additional sanctions on Russia over the annexation plan.
In markets, the U.S. dollar is finishing the quarter with its reign unchallenged, even as a hot German inflation print has investors betting the European Central Bank will get more aggressive, Britain intervenes to shore up gilts and the pound and China girds for a heavier yuan defence.
The rand slipping past R18 to the dollar not even among the worst.
Later in the day, we will be told how much Japan spent last week defending the yen , and gauge how many rounds of ammunition it has left, given only $135.5 billion of its $1.3 trillion in reserves are held in the form of deposits.
That comes on the heels of hot weekly U.S. unemployment claims data which confirmed the Fed will stay on its aggressive monetary policy tightening path.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head ofGalileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor: School of Business and Governance at NWU
Capitec’s digital strategy has started paying off as the lender delivered a 17% rise in headline earnings per share and further hiked its dividend by a similar margin to R14. Business Day TV caught up with the company’s CEO, Gerrie Fourie for a look at its interim results.
Despite attractively priced assets, the lure of remaining listed declining and a swift bounce back from Covid, Private Equity suffered its annus horribilus last year.
Private equity investments totalled R14.9 billion in 2021, a marginal increase from R14.5 billion in 2020.
But the number of deals was still the lowest since 2011, and the value is less than half of what the local industry attracted at its peak in 2018.
Fund raising remains tough for South African private equity GPs as evidenced by the latest SAVCA survey which shows that Funds Under Management increased by 5.6% to R206.2bn down from a 5.8% increase in 2020.
Michael Avery is joined by Langa Madonko, Investment Principal at Summit Africa and SAVCA Board Member
Siya Nhlumayo, Partner at Vuna Partners and Phathutshedzo Mabogo, Acting Chief Investment Officer of the Eskom Pension and Provident Fund
Ascendis Health has managed to narrow its normalized operating loss for the full year. That's as the group is still recovering from mounting debt of almost R8 billion and facing the strong possibility of entering into business rescue. Group acting CEO, Carl Neethling joined Business Day TV to discuss the group’s full year performance, strategy and debt reduction plans.
The fight to tame inflation has come at a cost, with the IMF saying that the uncoordinated hiking cycles, risks tipping the world economy into recession. Business Day Tv caught up with Old Mutual Wealth’s Izak Odendaal and he shared his take on the global hiking spree.
Ethos Capital says its portfolio has recovered. The private equity group has stated that most of its investees have returned to profit levels in excess of their pre-Covid-19 levels and this has helped the group report a 27% increase in its annual basic net asset value per share. But Ethos has highlighted Virgin Active as a standout underperformer with the health club chain still not at pre-pandemic levels due to slow membership recovery in the wake of lockdowns restrictions. To unpack this Business Day TV spoke to Peter Hayward-Butt, CEO of Ethos.
Total employment in South Africa has decreased. During the second quarter 119 000 jobs were shed, reflecting a 1.2% drop on a quarterly basis - this was mainly due to a decrease in jobs in construction as well as community and business services. Business Day TV unpacked the print with Chief Economist at Econometrix
The World Bank has cut its outlook for the East Asia region by 3.5% for 2022, citing China’s property crisis and covid lockdowns as major risks. Business Day TV discussed this with RMB’s John Cairns.
Coming off a Covid-19 led low base and boosted by the recovery in earnings for most of the group's underlying investee companies. Remgro has managed to deliver a robust recovery, with most financial metrics ahead of pre-pandemic levels.
Business Day TV unpacked the performance in greater detail with company's CEO, Jannie Durand.
Today on Business Watch, we conclude our AI series where we’ve been featuring some of the most remarkable talent in the fields of machine learning, data analytics, artificial intelligence, natural language processing and programming in the country.
We’ve spoken to pioneers in health tech, fin tech. Coders building the future of chat commerce and virtual agents raising our competitiveness when it comes to business process outsourcing.
We’ve spoken to some of the country’s leading academic thinkers on the bug existential and philosophical questions around the ethics and future of a world where, increasingly, machines will displace the monotonous and mundane, and what this means for a country with record high unemployment.
And we’ve shone a spotlight on using this technology for societal good.
Michael Avery is joined by Johan Steyn, Founder of AIforBusiness.net.
Kelly Hoffman, CEO & Founder of Vocalysd.ai & AssetNinja and Shawn Winterburn, CEO and Co-founder of OQLIS….
Global bond markets have taken strain, hitting lows last seen in 1949. Business Day TV discussed the factors driving these markets lower is James Turp from Absa Asset Management.
Following weeks of back to back power cuts, Eskom’s leaderships ability to run the state owned entity has been questioned. This comes after the Sunday Times reported that the presidency has met with the department of public enterprises about shaking up the leadership. Business Day TV caught up with Business Unity South Africa’s CEO, Cas Coovadia and he shared his sentiments on this.
South Africa has been awarded an investment grade rating from the new Gauteng-based Sovereign Africa Ratings agency.
A rating that goes against the three major ratings agencies, which have all placed South Africa deep into the sub-investment territory.
Business Day TV caught up with Zwelibanzi Maziya, COO of the Sovereign Africa Ratings to discuss the assessment in greater detail.
With rising inflation, geopolitical risk, climate and energy concerns, there’s a lot for pension funds trustees and their consultants to consider at the moment when it comes to their investment and asset allocation strategies. Mercer’s recently released Asset Allocation Insights 2022 report showed that South African pension funds invest 61% of their portfolios in equities, which is one of the highest equity allocations in the world. Allocations to growth assets increased year on year compared to the previous survey (+6%) as managers adopted a more pro-risk stance and investors looked toward a rebound in business activity despite the emergence of new Covid-19 variants. Whether you are an asset owner, asset manager, financial intermediary or other institutional investment participant, these trends bring insights and actions to build upon.
To unpack the pension allocation and asset allocation trends Michael Avery is joined by Mandisa Zavala, Head of Asset Allocation at Alexforbes; Janina Slawski, Head of Investments Consulting at Alexforbes and Mark Smathers, Principal at Mercer
A feverish week of central bank activity around the globe has left markets at extremes. The Fed hiked by 75%, leading our own Reserve bank to follow in lockstep, despite a markedly different inflation picture and growth and employment concerns.
Currency prices were rattled too after Japan intervened in the foreign exchange market to buy Yen for the first time since 1998.
The Yen surged against the dollar after the intervention. Some analysts were sceptical, the battered currency would stay strong given the loose monetary policy by the Bank of Japan contrasted with hawkish moves this week by the Federal Reserve and other central banks.
Investors might be excused for wanting to take a breath on Friday, but further digestion of the week's central bank action along with inflation data in Asia and economic readings in Europe could beget more volatility.
And we’ve got an energy Minister who reckons a 15 year old energy crisis is being caused by something that’s happened in Europe in the last 8 months.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head of Galileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes and Raymond Parsons, Professor in the School of Business and Governance at NWU
The reserve bank has raised rates by 75 basis points, joining its global peers in the fight to tame inflation. Business Day TV caught up with Erwin Rode from Rode & Associates to discuss how much of an impact this move will have on the housing market.
The reserve bank's monetary policy committee has lifted the repo rate by 75 basis points (bps) to 6.25%. The move was largely expected by economist but it will add pressure to indebted consumers who are already struggling to make ends meet. Business Day TV unpacked this in detail with Citadel chief economist Maarten Ackerman.
Blue Label has confirmed that Cell C's recapitalization has been completed and this comes after years of negotiations. Business Day TV discussed what this means for Cell C and Blue Label moving forward with telcos analyst at Nedbank CIB, Preshendran Odayar.
Overnight the Fed indicated that it is committed to continue hiking in the face of persistent core pce inflation in the US, taking the fed Funds rate to 3 to 3.25% and indicating that a further 1.25% in increases is due by year end.
In a sobering new set of projections, the Fed foresees its policy rate rising at a faster pace and to a higher level than expected, the economy slowing to a crawl, and unemployment rising to a degree historically associated with recessions.
Now its all eyes on the SA Reserve Bank’s monetary policy committee, which is widely forecast to hike the repo rate by 75 basis points (bps) to 6.25% at the conclusion of its three-day meeting today, even after Stats SA reported that inflation eased slightly to an annual 7.6% in August from 7.8% a month earlier. However, the reading was above the consensus forecast of 7.5%
To read the tea leaves for the economy I’m joined now by:
Michael Avery is joined by Annabel Bishop, Investec Chief Economist; John Dludlu, executive for strategy and public affairs at the Small Business Institute and Matthew Parks, Parliamentary Coordinator for Cosatu
Trying to keep the lights on is costing Eskom an arm and a leg with spending on diesel rising to R7.7bn, which is more than the state-owned utility had budgeted for this year. Business Day TV explored the diesel market in greater detail with Andre Botha from TreasuryOne.
Inflation has slowed to 7.6% year-on-year in August after softer fuel prices helped offset higher food and electricity inflation. Business Day TV unpacked the print and discussed what it means for the South African Reserve Bank’s next move with FNB senior economist Koketso Mano.
Financial services company Sasfin has delivered a 23.6% jump in annual headline earnings per share on the back of an improvement in its credit performance. Business Day TV discussed the results in detail with the company’s CEO, Michael Sassoon.
Amid an energy crisis in South Africa, research by Climate Group has revealed that the country is topping its peers. That’s as it shows encouraging improvements when it comes to pushing forward with its renewables ambitions. Business Day TV discussed this in detail with Climate Group’s Executive Director of Systems Change, Mike Peirce.
Economists are expecting the Sarb to take a more hawkish stance at its next meeting, and this comes as the country struggles with rising inflation and a weak rand. Business Day TV caught up with RMB economist Siobhan Redford and she shared her views.
Time is running out for South Africa to prove to the Financial Action Task Force that it can counter financial crimes. The watchdog found weaknesses in the country’s ability to fight corruption and money laundering. South Africa has between now and the end of November to show improved strength in this regard. Acting Treasury DDG, Ismail Momoniat says the deadline however is likely to be missed resulting in the country being greylisted. Business Day TV spoke to Sanisha Packirisamy, Economist at Momentum for her take on the impact a potential greylisting could have on the local economy.
Through the pandemic listed property companies have had to get back to basics and focus on the core operating strategies of managing assets and less on the financial engineering that had caused such over exuberance in markets in the mid-2010s.
While REITs might excel at attracting the right tenants, maximising the information in their leases, and running their businesses smoothly, they also regularly face additional challenges that can hinder their overall success. Miscommunication and general inefficiency can lead to unsatisfied tenants and wasted budgets.
With load-shedding ever-present landlords must also find ways to minimise the impact on their tenants.
The rise of proptech has started to find unique solutions to these challenges and to talk about how data and analytics and technology are converging to propel innovation in REITland.
Michael Avery is joined by Mark Fairweather, the Managing Director of MRI Software for Africa; Craig Hean, Managing Director, Advisory & Transaction Services Excellerate and Laurence Rapp, CEO of Vukile property Fund
Join independent analyst Loyiso Mpeta as he takes us through what the charts are saying about commodity stocks, like Glencore and BHP.
The rand has come under pressure as South Africa feels the impact of load-shedding and markets eye potential interest rate hikes from major central banks. Business Day TV unpacked the factors at play and what could be in store for the local unit with Citadel global director Bianca Botes.
South Africa will need half a trillion rand to put an end to load shedding by the beginning of 2025, according to Intellidex. The research company has revealed this figure in the wake of Eskom's announcement that it is scrambling for emergency power to end stage six load-shedding. The power utility is looking procure 1000 megawatts of energy from private users. Nersa is yet to determine how the costs of the procurement will be recouped. Business Day TV spoke to Peter Attard Montalto from Intellidex for more detail.
The bank of 2030 will look very different from today. Facing changing consumer expectations, emerging technologies, and alternative business models, banks need to start putting strategies in place now to help them prepare for this future. An important indicator of the shifting landscape? Cloud computing is moving to the forefront as a focus for the chief information officer, C-suite executives, and board members. Banking and capital markets leaders increasingly recognize that cloud is more than a technology; it is a destination for banks and other financial services firms to store data and applications and access advanced software applications via the internet. The leading public cloud providers offer an array of innovative products-as-a-service that can be accessed on their platforms and help banks implement business and operating models to grow top line, get a far better customer picture, contain costs, and deliver market-relevant products quickly.
To talk about this Michael Avery is joined by Graeme Lockley, Head of IT Architecture and Engineering at Investec South Africa; Ricardo Rosa, Enterprise Commercial Director at Microsoft South Africa & Tijsbert Creemers, Managing Director and Partner at Boston Consulting Group, Johannesburg
The global economic outlook remains downbeat and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, the IMF said on Thursday. The IMF in July revised down global growth to 3.2% in 2022 and 2.9% in 2023. It will release a new outlook next month. In comparison, the World Bank said the world could be edging towards a global recession in 2023 as central banks across the world simultaneously hike interest rates to combat persistent inflation. read more The world's three largest economies - the United States, China, and the euro zone - have been slowing sharply, and even a "moderate hit to the global economy over the next year could tip it into recession,", it said Meanwhile US President Joe Biden and President Cyril Ramaphosa are due to meet in Washington today to discuss various top level matters in very changed world as John Kerry has said it’s up to the president to put something on the table for the US8.5bn Just Transition Deal.
Joining Michael Avery for this discussion is Warwick Lucas, Head of Galileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor in the School of Business and Governance at North West University
The world's second largest cryptocurrency - Ethereum, has completed its much anticipated switch to a more energy-efficient infrastructure. Business Day TV unpacked what this move means, and how it impacts the crypto space with the General Manager for Africa at Luno, Marius Reitz.
The devastating KZN floods and hyperinflation have weighed on Metair. The firm has posted a 74% slump in headline earnings per share, and a 2% drop in revenue to R5.8bn. Business Day TV discussed the company’s half-year results with the CEO, Riaz Haffejee.
Airports Company South Africa (ACSA) has reported an 81% jump in annual revenue thanks to the easing of Covid-19 restrictions which allowed for a pick up in domestic and international travel. Business Day TV unpacked the performance in greater detail with company's CEO Mpumi Mpofu.
FirstRand has rewarded shareholders, dishing out an ordinary dividend of R3.42 and a special dividend of R1.25. That’s as it posted a 21% increase in headline earnings, after benefitting from higher interest rates, and recovering from the impact of the pandemic. Business Day TV discussed the company’s annual performance with CEO of FirstRand, Alan Pullinger.
Wild swings in equity markets persist with each leg taking the indexes lower over on the US with the S&P now close to confirming bear market territory. Cryptos crashed on unstable coins. Meanwhile the dollar surges and the rand's battle to keep up shows with a loss of 10.8% to the greenback in a month but ONLY down just over 1,4% year to date. In the political economy a lack of mining cadastre system 10 years after the failure of SAMRAD looms large over the Mining Indaba… Today we still do not even have an adjudicated tender - and the integrity of the process already reeks of self-dealing and corruption. And we've had updates on the much-vaunted operation Vulindlela and a rail policy White Paper, hoping to get rail reform back on track.
Lots to discuss with Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
South Africa’s mining sector has registered its steepest decline in activity in nearly two years, with production for March down 9.3% year-on-year. The release of those figures come as the Mining Indaba in Cape Town draws to a close, where industry players have been discussing the challenges facing the sector and how to position the industry for growth. Business Day TV spoke to Peter Major, Mining analyst at Mergence Corporate Solutions for his view on the highlights from the event.
The crypto market has taken strain. The price of Bitcoin has slumped to its lowest level since July 2020, after declining by 28% to below $27,000. Business Day TV caught up with Luno’s Marius Reitz to discuss the moves at play.
Tight paper markets gave Sappi a boost in the second quarter and helped the paper and packaging group return to the black with a profit of $311 million. Business Day TV unpacked the performance with CEO Steve Binnie, who believes the earnings momentum can be maintained.
Africa’s mining sector has seen a rise in merger and acquisition activity, with the sector boasting 38 deals since the start of the year totaling $8.2 billion. Business Day TV spoke to Greg McNab, a Partner and member of the Corporate & Securities Practice Group at Baker McKenzie for more detail
Demand for Exchange Traded Funds (ETFs) have taken a knock. Global net inflows to ETFs declined to $27.4 billion in April from just over $117 billion previously. Business Day TV spoke to Michelle Noth, Client Coverage Executive at CoreShares about the activity at play.
The use of technology is expected to boost productivity and efficiencies in various sectors, and the mining industry is no different. PWC has noted a pick-up in the use of innovative cutting edge technologies to drive more efficient operations in the local mining industry. Business Day TV spoke to Johan Meyer, Executive Head of Projects and Technology at Exxaro for more on the company’s digital transformation journey.
That is the trillion rand question in the fixed income market if you are buyer or holder of South African government bonds and more broadly for a major question for all South Africans because if we are, if our debt balloons to unsustainable levels and we have to approach the IMF for help, this will undoubtedly precipitate painful change that will ripple throughout society and cause major political and social upheaval.
Some say, this is the only way.
Counterpoint Asset Management has run scenarios on the outlook for South African government finances over the next 20 years. One potential outcome is for the country to face a big structural adjustment because the debt-to-GDP ratio exceeds 180% by 2040 in the worst-case scenario.
Michael Avery is joined by Counterpoint head of fixed income, Daniel King.
Covid-19, the war in Ukraine and shortages of key automotive parts pose risks to the motor industry's planned growth. In light of those headwinds, the National Association of Automobile Manufacturers of South Africa has asked for a review of the industry’s masterplan, saying its goals may no longer be feasible in the allotted time span. Business Day TV discussed this with the association’s CEO Mikel Mabasa.
Kaap Agri has posted a near 27% increase in interim revenue, bolstered by surging prices. The agricultural services group says its outlook for the sector remains positive, but has warned that conditions may become increasingly challenging heading into 2023. Business Day TV unpacked the performance with CEO Sean Walsh.
As the world’s suits in hard hats descend on the Cape Town International Convention Centre for the first in-person Mining Indaba in two years, much has changed in the commodity landscape. But sadly, in SA not much has changed. The South African mining industry is nowhere near getting a new cadastral system, the Department of Mineral Resources and Energy (DMRE) said on the first day of the Mining Indaba 2022. During a question-and-answer session following his keynote address on Monday, Gwede Mantashe, South African Mines Minister acknowledged there was no timeframe for implementing a new mining cadastre to replace the dysfunctional SAMRAD system. “You can’t commit to a deadline for something that hasn’t started.”
Let’s welcome our panel, Peter Leon, Partner and Africa Chair of international law firm Herbert Smith Freehills; Paul Miller of AmaranthCX, and Erroll Smart, CEO of Orion Minerals
Join Independent Analyst, Loyiso Mpeta as he shares technical analysis on the Dollar Index and JSE All Share.
The Investing in African Mining indaba takes place at a time when the Fraser Institute has highlighted that South Africa has lost its investment appeal. Business Day TV spoke to Henk Langenhoven, Chief Economist at the Minerals Council SA about changes needed in the sector to improve investor sentiment.
British landlord, Capital & Counties has confirmed that is in talks with property group Shaftesbury about a merger estimated to be worth £3.5 billion, which will bring Covent Garden and Chinatown under a single owner. Business Day TV caught up Stanlib Property Analyst Ahmed Motara for his analysis on the move.
Join Independent Analyst, Loyiso Mpeta as he shares technical analysis on the Dollar Index and JSE All Share.
The South African (SA) stock market fell for only the third time in the past 18 months in April, as risk appetite soured globally. There were few places to hide on the local bourse, though coal exporter, Thungela, continued to benefit from surging global energy prices, with the stock up 48% MoM and 222% higher YTD, having risen elevenfold since listing less than a year ago. Sasol, the other local beneficiary of higher energy prices, was up 11% MoM. We’ve started May with most global markets giving in to the bears, bonds rising, the dollar strengthening and central banks eating lots of humble pie. The diary is full of Fed speakers this week, which will give them plenty of opportunity to keep up the hawkish chorus.
Let’s find out what the animal spirits are telling us with Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
A day after celebrating the Federal Reserve’s signal that it wouldn’t be making any big moves, traders woke up on Thursday deciding that the central bank will struggle to fight high inflation amid the lingering threat of a recession. In a sharp about-face, investors sold stocks, bonds and cryptocurrencies on Thursday. The S&P 500 Index lost 3.6%, erasing about $1.3-trillion of market value, and the tech-heavy Nasdaq 100 dropped 5.1%, the most since September 2020. The Dow Jones industrial average tumbled 3.12%. The positive sentiment melted after the BoE raised its rate for the fourth straight meeting, taking its benchmark to the highest in 13 years. Zondo’s fourth report into State Capture and the NPA’s victory in its battle to take on state capture corruption – by overturning a Gauteng High Court ruling that unfroze R1 billion in assets allegedly linked to the looting of Transnet – raise fresh hope on the accountability front While watching the ANC debate how to fix Eskom in parliament reminds one that the only power change the ruling party should be allowed near is at the ballot box. Let’s welcome the panel Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Oil prices have continued to rise on supply concerns, with the European Union revealing plans for new sanctions against Russia. Business Day TV spoke to David Elmes from the Warwick Business School for further insight.
Aspen Pharmacare may have to shut its Gqeberha vaccination plant, which is meant to supply vaccines to the broader continent, due to a lack of vaccine orders. Business Day TV spoke to Stavros Nicolaou, Senior Executive on Strategic Trade at Aspen for more detail.
Equites Property Fund has described its annual performance as ‘exceptional’. The firm’s reported a near 8% rise in net asset value per share and has upped its annual distribution per share by 5.2%, as it managed to retain tenants by keeping its vacancy rates low. Business Day TV caught up with the company’s CEO, Andrea Tarverna-Turisan for more detail on the results.
The rand has recovered from a near five-month low, as investors await the Fed’s policy announcement. Business Day TV discussed the moves playing out in the currency scene with TreasuryOne’s Andre Cilliers.
It has been 10-years since Disney acquired Lucasfilm, the studio that produces Star Wars and the Star Wars franchise remains a force to be reckoned with, as the brand is estimated to be worth $68 billion. Business Day TV spoke to Investment Analyst at Anchor Capital, Henry Biddlecombe for more on the investment case for Disney and the strength of the Star Wars business.
South Africa’s capital markets are in a state of existential crisis. Yes, there is a global trend towards fewer listed companies with the rise of private markets but in South Africa the delisting deluge is acute. 25 companies delisted from the JSE in 2021, with just seven new listings in the same period. This year we are heading towards that number again and we are mid-way into the second quarter….The flotation of Coca-Cola Beverages Africa (CCBA) has been pushed out to Q3 and would be the biggest on the JSE since at least 2016 and a major boost for the flagging index. It’s a complex issue that requires us to correctly identify the root causes of the problems in order to address them swiftly and incentivise the roleplayers to act accordingly if we are to turn things around for local investors, savers and pensioners. And was a key issue during the Johannesburg Securities Exchange AGM held yesterday.
To discuss this Michael Avery joined by Dr Leila Fourie, CEO of the JSE; Chris Logan of Opportune Investments and David Holland of Fractal Value Advisors
Combined Motor Holdings has delivered a strong annual performance. The vehicle dealership owner’s revenue grew 30% during the period and its headline earnings per share more than doubled, supported by cost cutting measures. Business Day TV unpacked the company's results with CEO Jebb McIntosh.
Global private equity inflows have shown no sign of decelerating. Last year firms accumulated $737 billion in investor capital and analysts expect this trend to continue in 2022. Business Day TV caught up with RMB Venture's Co-Head, Andrew Aitken and discussed whether the trend is also playing out in South Africa.
Business activity, new sales orders and export sales in the manufacturing sector are under pressure as a result of the floods in KwaZulu-Natal. The impact is reflected in the Absa’s PMI data for April, which shows a decline to 50.7 points from 60 points previously - a level last seen in July last year. Business Day TV unpacked the data in greater detail with Miyelani Maluleke, Senior Economist at Absa.
The ANC wants all its members to be above reproach. The party's decision-making body has closed the loophole in its step-aside rule, which previously allowed those facing criminal charges to run for office and simply step aside from official duties once elected. Business Day TV spoke to Political Analyst Rebone Tau about what this means for the ANC's elective conference later this year.
The South African Reserve Bank is actively experimenting with digital currency as it plans on introduce a ‘digital rand’. Business Day TV discussed the feasibility of the plan with Luno’s Global Head of Payments, Louis van Staden.
Clicks is giving shareholders a reason to smile. South Africa's largest pharmacy group has hiked its interim dividend by 26%, as market share gains and a bump from the Covid-19 vaccination drive helped it deliver a 9% rise in turnover and a 26% increase in headline earnings per share. Business Day TV discussed the results with the company's CEO Bertina Engelbrecht.
Commodities have had their best start to a year since WWI on the back of continued supply chain disruptions and the ingoing war in Ukraine amongst other drivers. But if you thought this ere of scarcity was only being driven by these issues you’d be sorely mistaken as a recent Bank of America research report points out. Did you know that the weight of human-made stuff exceeded that of natural biomass? That we produce enough plastic to cover the entire Earth’s surface? That if you live in the West you use 57kg of newly mined mineral every day? And Did you know that we will run into some key metals’ deficit in three to four years and reach peak phosphate by the end of the decade? Run out of fresh water in 18 years? Fish and seafood in approximately 25 years? All we have done is mine more, produce and buy more. But a recent research note on the age of scarcity was released by bank of America, which identified 50 companies worth $8tn in market cap, across all regions, that could provide the answers to helping solving some of these resource constraint questions.
Michael Avery talks to Martyn Briggs, Director of Thematic Investing and Bank of America Securities
Commodities have had their best start to a year since WWI on the back of continued supply chain disruptions and the ingoing war in Ukraine amongst other drivers. But if you thought this ere of scarcity was only being driven by these issues you’d be sorely mistaken as a recent Bank of America research report points out. Did you know that the weight of human-made stuff exceeded that of natural biomass? That we produce enough plastic to cover the entire Earth’s surface? That if you live in the West you use 57kg of newly mined mineral every day? And Did you know that we will run into some key metals’ deficit in three to four years and reach peak phosphate by the end of the decade? Run out of fresh water in 18 years? Fish and seafood in approximately 25 years? All we have done is mine more, produce and buy more. But a recent research note on the age of scarcity was released by bank of America, which identified 50 companies worth $8tn in market cap, across all regions, that could provide the answers to helping solving some of these resource constraint questions.
Michael Avery talks to Martyn Briggs, Director of Thematic Investing and Bank of America Securities
SA-born billionaire Elon Musk has clinched a deal to buy social media platform Twitter for $44bn. The transaction will see investors will receive $54.20 for each Twitter share they own. To discuss the market's response to the move, Business Day TV spoke to Anchor Capital investment analyst Henry Biddlecomb.
The local bond market has had a tough month as the US Fed has been turning up the heat, hinting at a more aggressive interest rate hike at its next meeting in May. Business Day TV unpacked the factors at play in more detail with RMB's bond trader, Michelle Wohlberg.
South Africa could be sitting on its next gold rush – green hydrogen With an an abundance of solar and wind resources in Saldanha Bay to supply large amounts of renewable energy, experts have urged that a green hydrogen economy be developed in the area as it reportedly had the potential to become a promising hydrogen fuel export hub. In a series of webinars by the Saldanha Bay Innovation Campus, where various panels of experts elaborated on the future of hydrogen fuel in the energy transition, Saldanha Bay was hailed as a prime location for the production of green hydrogen.
To discuss the market opportunity and what needs to happen to unlock them Michael Avery is joined by Thomas Roos from the Council for Scientific and Industrial Research (CSIR), and author of an authoritative paper on powerfuels in SA; Katrina Abhold, Project Lead – Global Opportunities at the Global Maritime Forum (GMF) & Adinda Preller, SBIDZ Executive: Transaction & Investor Support
Join independent analyst Loyiso Mpeta as he shares technical analysis on Thungela Resources and Spur.
Investment holding company PSG Group has decided to hold on to its dividend for 2022 as it looks to delist from the JSE. Business Day TV caught up with PSG CEO Piet Mouton for more detail.
The focus Eskom's woes has sharpened as the state-owned utility continues to implement load-shedding. Unreliable power supply remains South Africa's largest growth inhibitor, according to PwC, which estimates that blackouts reduced SA real GDP growth by 3 percentage points in 2021. Business Day TV spoke to independent energy analyst Ted Blom about the situation and unpacked what can be done to fix the problems.
It’s been a busy period for mining powerhouse Anglo American formally bidding farewell to its turnaround CEO, Mark Cutifani, dubbed the rocketman by the FM recently, and releasing a disappointing first quarter operating update with a 10% production decline blamed on wet weather in Brazil and South Africa as key factor. Since Cutifani took over the reins from Cynthia Carroll who was roundly criticized for overpaying on Minas Rio, the group has weathered some tough times but last year more than doubled its earnings and paid out a record $6.2bn to its shareholders amid soaring global prices for its products and solid performances from its operations. Its share price has now topped £40 — more than three times what it was when Cutifani embarked on the restructuring in mid-2013 and almost 20 times its early 2016 low. The group has outperformed its mining industry peers such as BHP Billiton and Rio Tinto over the past nine years, delivering an annual average 20% total return to shareholders which beat Cutifani’s 15% target.
Michael Avery talks to the rocketman Mark Cutifani, former CEO of Anglo American
It’s been a bad week for KZN, Eskom and the economy: The human and economic costs of the recent KZN rains and floods mount: in announcing another National State of Disaster this week to deal with the socio-economic consequences the recent overwhelming floods in KZN President Cyril Ramaphosa confirmed that the National Treasury would make R1 billion immediately available for the disaster effort. He said that the Finance Minister would also approach Parliament for additional resources. What was also noteworthy about Ramaphosa’s message was the acceptance that the public did not trust the government with emergency funds and resources, and that special steps would be taken to prevent any ‘looting’ and corruption. The rand has been in freefall along with the national mood.
To put this in perspective Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
HomeChoice's fintech business, FinChoice has been the group's star performer of late as it's been largely responsible for the firm's profit growth. The division offers unsecured lending via a zero-rated mobile app and demand for this service saw FinChoice report a 73.8% jump in loan disbursements to R3.3bn in the year to end-December. Business Day TV caught up with FinChoice CEO Sean Wibberley for more detail.
President Cyril Ramaphosa has finally had his long-awaited phone call with Ukrainian president Volodymyr Zelensky. The move comes after reports suggested that the call had been delayed due to bickering between SA and Ukrainian diplomats. The Ukrainians were said to be unhappy that SA requested a call between the two country's presidents after Ramaphosa had a telephone conversation with Russia's President Vladimir Putin. Business Day TV spoke to Steven Gruzd from the SA Institute of International Affairs and former US diplomat Brooks Spector to unpack the relationship between SA and Ukraine.
Rapidly rising chicken prices driven up by rampant inflation, global food and commodity shortages, the escalation in fuel, transport and electricity costs, increasing trade tariffs, and the fact that wages are decreasing and unemployment increasing, is providing fresh fodder for a long running debate on the role of tariffs in the local poultry sector. This is on the back of chicken prices already having increased by 10% per year, for the past ten years. In 2019, all parties, including the local industry, importers and Government, signed and agreed to a Poultry Master Plan.
To debate the issue of tariffs Michael Avery is joined now by Donald MacKay, Donald writes regular op-eds for BD. He is the founder and CEO of XA International Trade Advisors; Dave Wolpert, a former CEO of the Association of Meat Importers and Exporters (AMIE); Francois Baird, founder of FairPlay and Izaak Breitenbach, GM of the SA Poultry Association, the local broiler organisation
President Cyril Ramaphosa has asked the Solidarity Fund's leadership to assist flood relief efforts in KwaZulu-Natal. The Head of State says National Treasury will make an initial amount available to the Solidarity Fund to implement support measures. Business Day TV spoke to Martin Kingston, the Solidarity Fund's Flood Response Advisor for more insight.
Industrials REIT has expanded its multi-let industrials portfolio, after purchasing four of these assets in the UK for close to £21 million. Business Day TV caught up with the company’s CEO Paul Arenson, for greater insight on the move.
Consumer price inflation quickened in March, coming in at 5.9% - just below the Reserve Bank’s 3%-6% target range. The acceleration comes as the price of food and non-alcoholic beverages increased. Business Day TV unpacked the print with RMB Economist Siobhan Redford.
The pandemic has hastened digital change, putting the value of data at the top of boardroom agendas throughout all sectors and businesses. Just yesterday Capitec CEO Gerrie Fourie was waxing lyrical about how important data is to the bank and how he’s lifted and shifted key systems into the cloud. But in a world filled with a seemingly limitless amount of data, what is the optimal role of the chief data officer, which seems increasingly critical for organizations of all sizes. The CDO role has expanded in recent years, found an IDC report on the state of the chief data officer, based on a survey of 1,291 global organizations. CDOs in the past had mostly been focused on data governance and compliance, but now are also responsible for helping organizations use data to improve business operations. So how are we to think about and utilize this data revolution to our advantage as business and broader society?
To talk about this Michael Avery is joined by Johan Steyn, a smart automation and artificial intelligence thought leader; Christoph Nieuwoudt, Chief Data Officer at FirstRand Group & Vukosi Sambo, Chief Data Officer at Medschem
The Democratic Alliance says Eskom must be declared a state of disaster for failing to prevent rolling blackouts. Business Day TV caught up with DA's Shadow Minister of Public Enterprises, Ghaleb Cachalia for more detail.
A record number of breakdowns at Eskom's generating units is weighing on South Africa’s power grid. The power utility escalated rolling blackouts to Stage 4 after the Majuba and Tutuka Units tripped. Day TV spoke to Andre De Ruyter, CEO of Eskom for more detail on the state of the power grid.
Over the course of last year, the word ‘metaverse’ and certainly Tik Tok, entered common usage, inspiring a lively global debate about what it represents, whether it’s already here, and who will own it. But we still don't have an accepted definition of what it is. This has been satirized on the tech website The Verge: “maybe you’ve read that the metaverse is going to replace the internet. Maybe we’re all supposed to live there. Maybe Facebook (or Epic, or Roblox, or dozens of smaller companies) is trying to take it over. And maybe it’s got something to do with NFTs? Or maybe you can find it on Tik Tok” Although advertising is anathema to many technologists, it funds the internet as we know it. It produces high margins and allows content creators to drive discovery and engagement with their work, making it attractive – and, importantly, feasible – to anyone exploring the metaverse as a business opportunity.
So how do brands navigate this tricky terrain? Let’s welcome our panel to find out: Bronwyn Williams, of Flux Trends, who is in studio and for this chat about the virtues of virtual marketing; Dashni Vilakazi, MD of Mediashop & Pieter Groenewald, CEO of Webfluential
Crypto company Luno’s customer base has hit the 10 million mark and those were onboarded in just six months. Business Day TV spoke to Marius Reitz, Luno's GM for Africa about the milestone.
The flooding in KwaZulu-Natal has caused severe devastation to infrastructure, homes and businesses, with the insurance industry expected to receive numerous claims. Business Day TV spoke to Tarina Vlok, Managing Director of Elite Risk Acceptances - a division of Old Mutual Insure, for a look at what the floods mean for the sector.
The floods in KwaZulu-Natal have impacted operations for many businesses in the province. Tongaat Hulett has advised that it’s still assessing the impact, while some like Sappi and Toyota have halted operations. Business Day TV unpacked the impact of the floods from a business perspective with Mpume Langa, Vice President of the Durban Chamber of Commerce and Industry.
The logistics industry has taken a hit from the flooding in KwaZulu-Natal. Transnet initially suspended operations as a precaution but the sector remains under strain, with truck movement towards the port halted and several roads either underwater or having sustained significant damage. Business Day TV spoke to Gavin Kelly, CEO of the Road Freight Association and Moshe Motlohi, Transnet National Port Authority Executive for their assessment of the impact of the disaster on logistics and what it means for the province.
South Africa seems stuck in the same negative feedback loop that the president seems unable to break. This government talks a good game but as we see with mining this week, a truly bizarre mining exploration strategy that will focus on junior exploration firms that are 51% black owned exclusively while we slip down to the bottom 10 worst mining destinations in the Fraser rankings says it all…and then the way third party access has almost been derailed by hostility towards the private sector and commercial bafoonery, simply boggles the mind.
Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
The World Bank expects South-Saharan Africa’s growth set to decelerate. The bank’s says GDP should slow to 3.6% this year from 4% in 2021, and has cited a global environment with multiple shocks, high volatility and uncertainty. Business Day TV spoke to the Chief Economist for Africa at the World Bank, Albert Zeufack for more insight.
Supply chain issue and the impact of the pandemic weighed on Zeder’s annual profit, and led to a 67% slump on that end. The agribusiness-focused investment holding group has however posted a 31.2% increase in its headline earnings per share, supported by increased valuations of The Logistics Group and Kaap Agri. Business Day TV spoke to CEO, Johan le Roux for more detail.
Financial services group PSG Konsult, has posted a surge in annual profit. The group's recurring headline earnings per share grew by 32% during the period allowing it to increase its total dividend by a similar margin. Business Day TV spoke to Francois Gouws, CEO of PSG Konsult for his perspective on the numbers.
EOH has completed its turnaround strategy and has returned to profit. The technology group has posted headline earnings per share of 41 cents and while it’s current liabilities still exceed its assets by R1.6 billion, the firm’s pointed to the encouraging signs of robust demand for digital services as the economy recovers. Business Day TV spoke to CFO Megan Pydigadu for more detail.
South Africa’s capital markets are in a state of existential crisis. And I don’t say that flippantly. Yes, there is a global trend towards fewer listed companies with the rise of private markets but in South Africa the delisting deluge is acute. 25 companies delisted from the JSE in 2021, with just seven new listings in the same period. This year we are sitting on another 20 delistings and we are scarcely into the second quarter…. We should all encourage the JSE to make itself more attractive to new listings, but we should also consider the negative role played by the policymakers in the National Treasury and the underlying structural concerns raised by Paul Miller recently that points to a playing field favouring large investment institutions over small retail investors.
To discuss this Michael Avery is joined by Leon Campher, outgoing CEO of Asisa, the association for savings and investment SA; Chris Logan of Opportune Investments & David Holland of Fractal Value Advisors
The Chinese government is urging long-term investors to buy more equities and encouraging large shareholders of listed firms to increase their holdings. The efforts are in a bit to stabilise a stock market that that is taking a hard knock from the Covid-19 outbreak. Business Day TV caught up with the Director at Prescient Investment Management, Liang Du for his views.
The rand held steady below the R15 mark to the dollar. The local unit’s performance comes despite US inflation hitting a 40-year high of 8.5% in March, further supporting the Fed's aggressive policy stance to contain rising pricing pressures. Business Day TV discussed this with RMB’s John Cairns.
A growing client base and continued growth in digital banking gave Capitec’s year-end performance a boost. The lender’s reported an 84% jump in headline earnings per share and it has more than doubled its total dividend payout, along with declaring a special dividend of R15. Business Day TV unpacked the performance with Gerrie Fourie, CEO of Capitec.
Stage 2 loadhsedding rears its head just before winter, as we’ve just swallowed another 9% tariff hike from Eskom, with the UN warning of runaway global food prices, unseen since 2011, and with the pandemic still lurking in the background, its fair to say that all of us have had enough. Inflation is creeping up beyond the reserve bank’s target range of 6% according to most economists. And yet that is still below global inflation rates which are closer to7 and 8% in the US and Europe. Inflation will impact the spending choices of households, but it will also impact brands, who might have to decide which programs and initiatives to pause or cancel. This rise in the cost of living and the subsequent reduction in disposable income impacts margins. So how do brands navigate this tricky terrain?
Let’s welcome our panel to find out Dashni Vilikazi, MD of The Mediashop; Thulani Sibeko, Chief Marketing Officer of Standard bank; Jeremy Sampson, MD of Brand Finance Africa & Mike Sharman, founder of digital agency Retroviral
South African manufacturing output has eased. Production rose by tepid 0.2% year on year in February, following the previous month’s 2% lift. The performance was largely due to by contractions in the motor vehicles, parts and accessories category and the petroleum, chemical products, rubber and plastic products grouping. Business Day TV discussed what the print suggests for the local economy going forward with Investec’s Chief Economist, Annabel Bishop.
Price is front and center for those looking to get a slot on Transnet Freight Rail's network. Sixteen slots are up for the taking from private bidders at a price tag of R600 million per slot for a 24-month contract - a price tag which may derail third party access. Business Day TV spoke to Mesela Nhlapho CEO of The African Rail Industry Association for more detail.
Join Independent Analyst Loyiso Mpeta, as he takes us through what the charts are telling him about Glencore and Cashbuild.
Stocks headed for a weekly loss on Friday as the prospect of aggressive global rate hikes finally began to rattle investors, while bonds fell and the dollar looked set for its best week in a month. Federal Reserve policymakers are ready to start cutting the central bank's asset holdings from May and are prepared to move rates higher 50-basis-points at a time to curb inflation, meeting minutes and remarks from officials showed this week.
The last two decades brought low inflation and a relatively peaceful world. Going forward geopolitical conflicts may become more and more volatile and have more of an impact on the whole world's economy as the chances of slowbalisation becomes increasingly likely.
Let’s welcome the panel Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Minerals & Energy Minister Gwede Mantashe recently opened bid window 6 of the government's renewable energy programme. The move, which seeks to procure 2,600MW from independent power producers to help prevent load shedding stage 2, has been welcomed by the industry,Business Day TV spoke to Davin Chown, Board Member of the SA Renewable Energy Council for his take on what it means for the industry and energy security in South Africa.
Dipula Income Fund’s shareholders have voted to collapse its dual share capital structure into a single class of ordinary shares from next month. Business Day TV spoke to CEO Izak Petersen, and discussed the opportunities this move would unlock.
Global M&A activity has started easing, with transactions slowing close to 36% in the first quarter to $216.67 billion. Business Day TV discussed whether the same trend is playing out in Africa with the CEO of Deal Leaders international, Andrew Bahlmann.
Michael Avery and Chris Holdsworth, chief investment strategist at Investec Wealth and Investment discuss the animal spirits
The investment holding company model is under scrutiny, as a number of companies had to contend with high share price discounts. Firms like RMI and PSG have decided to abandon the structure and unbundle the stakes it owns in firms it had initially invested in, in an attempt to unlock more value for shareholders, companies. Business Day TV discussed this with the CEO of Anchor Capital, Peter Armitage.
The fifth edition of the annual PGMs Industry Day kicked off amid concerns that sanctions against Russia will impact global PGM supply. Business Day TV spoke to Phoevos Pouroulis, CEO of Tharisa Minerals who attended the event for his outlook on the market.
The question on most employers minds after the National State of Disaster was lifted after two long years by the president on Monday evening is what’s next? As the government races to devise new measures for managing the coronavirus pandemic in order to lift the national state of disaster, health minister Joe Phaahla has released a slew of proposed changes to current health regulations, some of which have left experts baffled. At the same time, labour & employment minister Thulas Nxesi published a new code of conduct for managing Covid-19 in the workplace, reaffirming employers’ rights to introduce vaccine mandates and tightening the grounds on which employees may refuse to get jabbed. The flurry of directions, codes and regulations dealing with the various aspects of the pandemic where there is no State of Disaster create a complex landscape of rules and regulations for employers to navigate. And one has to ask whether any of the lessons on how to deal effectively with the pandemic were learned in the ensuing health regalations which have been widely criticised.
Joining Michael Avery on this discussion is Nerine Khan, former Commissioner and director in the CCMA and founder of Employment Relations Exchange; Connie Mulder, Head: Solidarity Research Institute (SRI) and Professor Alex van den Heever, chair in the field of Social Security Systems Administration and Management Studies at the Wit's School of Governance
South Africa’s listed property industry has taken a knock, with the industry's index registering a 3% decline over the first quarter of 2022. Business Day TV unpacked the reasoning behind the performance with Stanlib's property analyst, Ahmed Motara.
The oil prices has edged upwards with the US and Europe preparing to impose more sanctions on Russia, following an escalation of the conflict between Russia and Ukraine. Business Day TV discussed this with RMB's commodities trader, Raymond Phillips.
Treasury and the Department of Mineral Resources & Energy recently announced a reduction in the general fuel levy but farmers are unlikely to feel the full benefit of the cut, due to certain levy exceptions. Business Day TV spoke to Paul Makube, Senior Agricultural Economist at FNB Agri-Business for more detail on what this means for food prices moving forward.
The long journey of over 36 200 whistle-blowers in the fight against corruption in South Africa comes into focus in the 2021 edition of the Corruption Watch (CW) annual report published recently, Pushing for change, as the organisation commemorates 10 years since its establishment in 2012.
The past decade reveals a volatile experience for the brave whistle-blowers who have not been deterred by intimidation, stringent lockdown conditions, or threats to their livelihoods and sometimes even their lives.
To talk about this Michael Avery is joined by Corruption Watch CEO Karam Singh; Former Sars executive Johann van Loggerenberg & Cynthia Stimpel, former group treasurer of South African Airways (SAA)
The JSE's private placing platform is gaining traction, and has managed to attract more than R5 billion in potential investments within three months. Business Day TV caught up with the JSE's head of origination and deals Sam Mokorosi, for more detail.
Join Independent Analyst, Loyiso Mpeta as he shares technical analysis on Hulamin and Growthpoint.
Government's emergency intervention in the fuel price means that the upcoming hike will be comparatively muted with regards to petrol. South Africans citizens will be paying 30 cents more for petrol as opposed to nearly R2, but the diesel price will still be rising by that margin. Business Day TV spoke to Layton Beard, Spokesperson for the Automobile Association for more insight.
South African businesses face a financial double blow this month as record fuel prices and electricity tariff increases take effect. Yes costs are rising but there is a curious set of events unfolding that could as somewhat contrarian view, offer scope for outside opportunity for local businesses.
To talk about the continued bounce back from the pandemic for smes Michael Avery is joined by Pavlo Phitidis - Chief Executive Officer at Aurik Business & Mike Schussler, economist at economists.co.za
The South African Revenue Service (SARS) has releases its preliminary revenue outcome for 2021/22, which shows collections of R1.564 trillion. SARS says the figure represents a surplus of R314 billion against the prior year and has added that collections have been buoyant due to a strong economic recovery, boosted by elevated commodity prices. Business Day TV spoke to SARS Commissioner Edward Kieswetter for more detail.
We’ve just finished one of the wildest quarters in recent memory with commodities enjoying the strongest start since World War 1. And in an effort to stop corruption the government announced plans to introduce a mirror accounting package in all SOE's where anyone can freely view details of every payment on the mirror site online. And if you believe that, you are the April fool
To put the week in perspective Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes.
Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption and this has raised alarms about regulation within these regions. The IMF has been one of the institutions saying that more work needs to be done on crypto regulation, especially within the developing market. Business Day TV discussed this in detail with General Counsel at Luno, Lucy James.
Workforce has opted to hold on to its dividend for its 2021 year amid global uncertainty brought by the conflict between Russia and Ukraine. For the year ended December, the firm posted a near 30% rise in rrevenue while core profit jumped 98%. Business Day TV unpacked the results with CEO Ronny Katz.
Northam Platinum has withheld its interim dividend, citing the need to consider its growth prospects. The move comes despite a more than 66% jump in profit as the firm benefitted from buoyant metal prices. Business Day TV spoke to CEO Paul Dunne for more detail
Technology startups and the venture capital ecosystem that transforms ideas and fledgling companies into disruptive businesses are growing and expanding in Africa. Africa and South Africa enjoys a fertile environment for tech entrepreneurs due to the continent’s youthful and growing population, rising internet penetration, and the application of emerging technologies that have the potential to improve access to healthcare, financial services, education, and energy.
To talk about the key industry trends and updates in tech, startup policy Michael Avery is joined by Matsi Modise, Vice-Chairperson of SiMODiSA; Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA); Melvyn Lubega, Co-founder of Go1& Alison Collier, Managing Director of Endeavor South Africa
Famous Brands is betting on the plant-based dining market. The branded food services franchiser has acquired a 51% stake in Lexi's Healthy Eatery for an undiscolsed amount, which gives it access to Lexi's franchise and central kitchen operations. Business Day TV discussed deal with Keith McLachlan, Investment Officer at Integral Asset Management.
South Africa’s unemployment rate rose to a record high of 35.3% in the last quarter of 2021, with job losses mainly recorded in the manufacturing and construction sectors. Statistics South Africa however still sees light at the end of the tunnel with statistician general Risenga Maluleke saying that employment will improve when the country’s economy returns to pre-Covid-19 levels. Business Day TV spoke to Nthabiseng Moleko, Development Economist at Stellenbosch Business School, about what the data means for economic growth going forward.
The South African rand has managed to stand its ground, despite ongoing geopolitical issues. The local unit traded below the R15 mark to the US dollar, and inched closer to a five-month high. Business Day TV caught up with RMB’s Head of FX Execution and discussed the moves playing out in the currency market.
Brimstone has reinstated its dividend, following a return to profit. The investment holding company halted dividends after Covid-19 weighed on its portfolio of investments but trading conditions have since improved and it’s posted annual profit of R920.9 million compared to a loss of R43.8 million previously.
Many investors have never experienced inflation like we have seen the last few months, so it may be a good time to revisit your portfolio and confirm whether you still feel confident. So for this month’s share shootout we’ve asked our stock pickers for 3 of the best to weather this new period of rising inflation and rates.
Let’s welcome Greg Katzenellenbogen • Director at Sanlam Private Wealth; Caroline Cremen, Portfolio Manager at Adviceworx & Nick Kunze, Portfolio Manager Sanlam Private Wealth
Tiger Brands is betting on Africa’s plant protein market, which is projected to grow at a compound annual growth rate of 6.5% to $560.62 million by 2023. The food and beverage group has invested in Herbivore Earthfoods via its venture capital fund for an undisclosed amount, and says the deal is closely aligned to its health and nutrition strategy. Business Day TV spoke to Barati Mahloele, Venture Capital Director of Tigerbrands for more insight.
ADvTECH has delivered double-digit earnings growth, with headline earnings per share for the twelve months to December up 33%. The private education provider has cited solid enrolment growth, a significant improvement in up-to-date school fees and a focus on efficiency. Business Day TV caught up with the CEO Roy Douglas for more detail on the company's performance.
How will local tourism look to capitalise on the recent scrapping of the mandatory requirement for a negative PCR test for vaccinated travellers to enter South Africa? Can the sector truly live again as the new marketing slogan implores us to do?
Joining Michael for this discussion is Tshifhiwa Tshivhengwa, CEO of the Tourism Business Council of SA; Gillian Saunders, independent tourism consultant and David Frost the CEO of the Southern Africa Tourism Services Association – SATSA
President Cyril Ramaphosa has reached 95% of the five-year, R1.2-trillion investment target he set when he launched his investment drive in 2018, and he expects that companies that have pledged new investments at his four conferences will give others the confidence to follow suit.
The Reserve Bank hiked by 25 basis points as expected but the hawks are circling as two members called for 50…as Asian shares completed a second successive week of gains on Friday, though trading was choppy amid hawkish U.S. monetary policy, shifts in Chinese economic policy, and ongoing ructions in commodity markets due to the war in Ukraine.
To put the week in perspective, Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes join Michael Avery.
The Russia-Ukraine conflict has driven soft commodity prices to record highs, raising alarms for investors as Russia and Ukraine account for about 29% and 19% of global wheat and maize exports respectively. Business Day TV unpacked the impact that rising prices could have on global food supplies with Wandile Sihlobo Chief Economist at the Agricultural Business Chamber of South Africa.
South Africa’s Reserve Bank has raised interest rates by 25 basis points, as inflation remains at the higher end of the Bank’s 3%-6% target band. The move takes the repo rate to 4.25%, and marks the monetary policy committee’s third consecutive rate hike. The Bank has also ramped up its headline consumer price inflation forecast to 5.8% for 2022 from 4.9% previously. Business Day TV unpacked the decision with Jeff Schultz, Senior Economist at BNP Paribas South Africa.
Remgro has more than doubled its interim profit, with headline earnings per share surging by 139%. The investment holding conglomerate has pointed to an earnings recovery by most of its investee companies, which include Mediclinic, Grindrod Shipping and TotalEnergies. Business Day TV spoke to CEO Jannie Durand for more detail.
To paraphrase the famous playwright George Bernard Shaw, “Those who can, do. Those who can’t, outsource”. For many companies, business process outsourcing (BPO) allows them to contract certain back-office and front-office functions – such as customer relations, HR management and even accounting – to third-party solutions providers. This in turn frees up resources which can be used to enhance core competencies. In South Africa, the BPO market is a fast rising one, and is ripe to be augmented with technology The kind of AI used in process automation may not be smart enough to pass the Turing test, but it does involve increasingly more complex processing algorithms, iterative learning and sophisticated data abstraction, replacing decision-making and administrative skills that have, until now, necessarily been performed by people. But isn’t AI going to sterilize the main benefit of BPO in SA and that is creating jobs?
Joining Michael Avery on this discussion is Johan Steyn, a smart automation and artificial intelligence thought leader and management consultant; Reshni Singh Director: Global Business Services at Department of Trade Industry and Competition and Incoming CEO of BPES (Business Process Enabling South Africa); Llanley Simpson. Director: Mining and Mineral Beneficiation in The Department of Science and Innovation
Consumer prices held steady at 5.7% in in February, but rising food and transport prices put upward pressure on the monthly rate and saw CPI up 0.6% month-on-month. Business Day TV unpacked the print with RMB economist Siobhan Redford.
Companies are seeing value in the secondary listing market, and car dealership Motus is one of those firms. The company’s announced that it plans to list on the A2X, with its shares being available for trade from April. Business Day TV caught up with the CEO of A2X, Kevin Brady and discussed the kind of growth he is seeing in the secondary listing market.
Global inflation is intensifying with the Russia-Ukraine war approaching its fourth week. Historically commodities have thrived in high inflationary environments, and the year-to-date performance of the Rogers International Commodity index is reflective of that with the outlook for the asset class remaining positive for the rest of the year. Business Day TV spoke to legendary investor and financial commentator, Jim Rogers for his assessment of the current commodities cycle.
Infrastructure has become something of a national fixation. Successive economic policy documents, from RDP, to GEAR and Asgisa to the Economic Reconstruction and Recovery Plan, all had a major focus on how the country’s infrastructure programme could be used to catalyse growth and to varying degrees be used as levers to also achieve government’s socioeconomic and transformation objectives. Now we have the recently gazetted National Infrastructure Plan 2050. The NIP 2050 is organised into six main sections. The first section offers insight into the four mission-critical infrastructure areas, namely energy, freight transport, water and digital communications. There are then five cross-cutting sections focused on the regional agenda for infrastructure, finance, strengthening institutions for delivery, rebuilding the civil construction and supplier sector and the approach to monitoring and reporting on progress.
To talk about the plan it’s a pleasure to welcome one of the lead authors, Dr Miriam Altman former National Planning Commissioner and director of Altman Advisory & Dr Stuart Theobald, Chairman of Intellidex
Master Drilling has delivered record annual revenue of $171.8 million, while headline earnings per share more than doubled to 12.9 US cents. The global drilling company has however decided to hold onto its dividend, citing concerns around the ongoing conflict between Russia and Ukraine. Business Day TV discussed the performance with CEO Danie Pretorius.
Attacq has benefitted from eased lockdown restrictions. The property developer and landlord says less stringent rules helped it reduce its Covid-19 rental discounts by 84% to R8.5 million in the six months to end-December. Distributable income meanwhile grew by 33.4% Business Day TV unpacked the performance with CFO Raj Nana.
In the year 2000, when the world was recovering the dotcom bubble the breathless non-event of the Y2K a former optometrist in Cape Town was busy developing his start-up company, which had created a way to send SMS from the internet to cellphones – a world first at the time which seems scarcely believable now. The firm was also instrumental in helping WhatsApp create a sign-up solution that doesn’t require email.
The company’s name is Clickatell and it now has offices across the world including in Silicon Valley and Nigeria, but most of its developers - and its CEO - remain based in Cape Town. The global chat commerce leader, led by South-African born co-founder and CEO Pieter de Villiers - one of the Endeavor South Africa network of high-growth entrepreneurs, recently secured $91 million in investment in their Series C round. That’s R1,3bn.
Along with his work with Clickatell and the mobile industry, Pieter actively works to promote and empower entrepreneurs in Africa in digital skills training in South Africa serving as chairman of SiMODiSA.org, a public benefit, not-for-profit organization based in South Africa and Africa.
Pieter de Villiers, CEO and founder of tech unicorn Clickatell Alison Collier, Endeavor South Africa Managing Director
The war in Ukraine enters its fourth weeks with mounting speculation that Russia is lying the groundwork for the use of chemical weapons.
SA is one step closer to a future of widespread 5G telecommunications as MTN and Vodacom led buyers in the long-delayed radio frequency spectrum auction, which raised more for government coffers than had been expected.
To talk about this Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes.
A strong showing by African Rainbow Capital's investee companies gave its half-year performance a boost. The investment firm’s intrinsic value has increased by 14% to R14 billion. Business Day TV unpacked the performance with Co-CEO Johan Van Zyl.
Metair generated record headline profit in 2021, supported by its Covid-19 response strategy and a recovery in demand for batteries. Business Day TV spoke to company's CEO Riaz Haffejee for more detail on the performance.
Investors are still seeing value in emerging market bonds especially with regards to South African debt. Local bonds are still ranked as the best performer out of 19 developing-nations, and have delivered returns of close to 9% in dollar terms in the first two months of 2022. Business Day TV spoke to RMB's bond trader, Michelle Wohlberg about the movements playing out in the fixed income scene.
Growthpoint has managed to reward shareholders, despite a slump in activity in the office property market. The landlord has lifted its interim dividend by 5% to 62 cents, as the operating environment in the retail and industrial sectors gained momentum. Business Day TV discussed the company’s performance with Group CEO Norbert Sasse.
Libstar has delivered a 7% rise in annual revenue from continuing operations and more than doubled its profit, as an improved sales mix and price increases helped offset muted volume growth. The group has maintained its dividend at 25 cents. Business Day TV spoke to company's CEO Andries van Rensburg for more detail on the performance.
SA banks have delivered solid results this earnings season, according to a report by PwC. Combined headline earnings came in at R86.6bn, reflecting a 99% increase as trading conditions improved. Business Day TV discussed this in greater detail with the PwC's banking and capital markets industry leader, Francois Prinsloo
The recovery of SA's construction industry has slowed, according to the Afrimat Construction Index. Activity picked up in the second and third quarters of 2021 but momentum petered put in the fourth quarter with the index rising just 0.8%. For a closer look at why this has happened Business Day TV spoke to independent economist Roelof Botha.
One of the best-performing categories since the beginning of last year has been commodities. Everything from oil to wheat to palladium to gold is up, due in large part to inflation worries. But how much room is there left to run? And how big a portion should commodities make up of a portfolio? Today Russia’s invasion of Ukraine is unleashing the biggest commodity shock since 1973, and one of the worst disruptions to wheat supplies since the first world war. Although commodity exchanges are already in chaos, ordinary folk have yet to feel the full effects of rising petrol bills, empty stomachs and political instability.
How Long Will the Commodities Boom Last? Let’s welcome our panel ahead of next week’s MPC meeting Mamello Matikinca, Chief Economist at FNB; Kevin Lings, Stanlib Chief Economist & Old Mutual Wealth Investment Strategist Izak Odendaal
Private higher education group Stadio has declared a maiden dividend after the firm managed to grow its student base by 9% in it’s year to end-December. Business Day TV speak to Stadio CEO Chris Vorster about the company’s future plans to capitalise on this growth.
Casino and gaming group Sun International has returned to profit in 2021 as the easing of Covid-19 lockdown measures boosted local leisure travel. Business Day TV caught up with Sun International CEO Anthony Leeming to discuss whether this performance can be sustained given the uncertain nature of the Covid-19 pandemic.
SA’s fourth largest bank by market value Absa has more than trebled full-year profit as economic conditions have improved, triggering a decline in credit impairments. Business Day TV spoke to Absa CEO Jason Quinn for insight into the bank’s outlook.
In his Monday morning missive the president chose to highlight the work that has been done by the Special Investigative Unit the SIU to fight corruption. He pointed to the fact that corruption is raised by concerned citizens wherever he goes, which is certainly not a blistering insight. But it requires leadership to tackle corruption. A lack of decisive, ethical, and courageous leadership translating into tangible and speedy delivery has been identified as a key risk for South Africa over the next 12 months and the country runs the risk of becoming a failed state if this inaction continues. This is contained in the 2022 Institute of Risk Management Risk Report which has just been released. The document that polls risk professionals both in the private and public sector is acknowledged as a key primer for strategic risk management and planning.
To talk about the report and how we tackle the scourge of corruption Michael Avery is joined by Berenice Francis - IRMSA Immediate Past President and Board Member & Advocate Kevin Malunga - Academic Head: LLB Faculty: Regenesys Business School and former deputy public protector
Standard Bank has delivered double digit profit growth. South Africa's second most valuable lender grew annual headline earnings by 57%, as low interest rates fuelled lending activity and credit impairments eased. BusinessDay TV discussed the performance with CEO Sim Tshabalala.
Asian shares extended a global slump on Friday after the fastest U.S. inflation in four decades and a hawkish European Central Bank (ECB) bolstered expectations for more aggressive rate hikes, hammering sentiment already stung by the Ukraine war. Sellers swarmed Chinese equity markets after U.S.-listed Chinese stocks tumbled following the naming of the first Chinese firms to be potentially de-listed in the United States. The Russian invasion of Ukraine entered its third week as oil has whipsawed from 139 dollars barrel to 110 this morning. While locally loadshedding has dampened the better than expected Business Confidence index out yesterday.
Let’s welcome the panel: Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
TymeBank is diversifying its offering. The digital bank has announced that it will be launching health insurance known as TymeHealth, in partnership with National HealthCare Group. Business Day TV spoke to TymeBank CEO Tauriq Keraan for more detail.
The role of gas in South Africa’s future energy mix in the context of our Paris and Glasgow commitments to reduce our carbon emissions on a pathway to net zero by 2050 is stirring some heated debate. In response to this imperative, the National Business Initiative, together with Business Unity South Africa and the Boston Consulting Group has worked with corporate leaders to assess whether the pathways exist for the country’s economic sectors to decarbonise by 2050. Recently it released its third report in the series, focusing on the role of gas in South Africa’s path to net-zero.
Academics argue that pursuing gas could lead to stranded assets while critics rebuff that we cannot ignore the economic realities of energy security and ignore potential resource endowments that could bring massive economic benefit if responsibly exploited.
As always with these energy debates its complicated and the truth generally resides somewhere between those two poles.
Keshlan Mudaly, Principal - Boston Consulting Group (BCG) is one of the reports authors and joins our roundtable along with Craig Morkel, Chair of SAOGA's Gas Economy Leadership Group and CEO of iKapa Energy & Jarredine Morris, Senior Manager at The Carbon Trust
Emerging market currencies started March on a sour note, as US sanctions against Russia spooked markets and pushed investors towards safe-haven assets. Business Day TV caught up with RMB's Fixed Income and Currency Strategist, Varushka Singh for more detail.
South Africa's economy is showing signs of growth. Gross domestic product expanded by 4.9% last year, due to higher activity in finance, personal services and in the manufacturing sectors. Business Day TV discussed the print with Stanlib’s Chief Economist Kevin Lings.
Shoprite has managed to deliver double digit sales and profit growth during its half-year, despite the impact of the July's unrest. The retailer opened 62 new stores during the period which helped boost sales by 10% while profit grew 25%. Business Day TV unpacked the performance with CEO Pieter Engelbrecht.
The recently published second part of the sixth IPCC Assessment Report (AR6) leaves little room for doubt. Written by 270 researchers from 67 countries, the report is “an atlas of human suffering and a damning indictment of failed climate leadership,” said António Guterres, the United Nations secretary general. “With fact upon fact, this report reveals how people and the planet are getting clobbered by climate change. The recent spike in global energy prices highlights how addicted the world is to fossil fuels and the geopolitical risks inherent on relying on a few key producers. To talk about the report and its implications for South Africa we’re joined now by Minister of Forestry, Fisheries and the Environment, Barbara Creecy; Steve Nicholls, Head of Mitigation at the South African Presidential Climate Commission and Climate Change Advisor to the National Business Initiative & Olivia Rumble, director of climate consultancy climate legal and contributing author
Massmart's annual net loss widened by more than a quarter to R2.2 billion, as the owner of Game, Makro and Builders struggled to regain its footing after being impacted by Covid-19 restrictions and July's riots. The group's scrapped its dividend for a third consecutive year. Business Day TV unpacked the performance with CEO Mitchell Slape.
Improved domestic demand for Mpact's products gave its annual performance a boost. The packaging company delivered a 12.6% rise in full year revenue and an 89% surge in headline earnings per share. Business Day TV spoke to CEO Bruce Strong for more detail
Russia’s invading forces have bombed targets in Kyiv, Kharkiv and elsewhere in Ukraine, prompting fears of rising civilian casualties and growing questions as to whether the west could step up military, economic or other efforts to help. Vladimir Putin has told the French president, Emmanuel Macron, that Ukrainian intransigence means “the worst is yet to come” in Ukraine, in a 90-minute call in which the Russian leader also said Moscow was aiming for “full control” of the country by diplomatic or military means. As the Russian invasion of Ukraine escalates while the West watches meekly on hoping that sanctions will do the trick, one man knows the inside of Putin’s Russia and the power of sanctions better than most.
Joining Michael Avery is Bill Browder, CEO of Hermitage Capital Management, also the Head of the Global Magnitsky Justice Campaign joins us to discuss the damage of these sanctions.
Southern African eyeing gas and renewables as the best energy solution as demand for climate action and global decarbonisation grows. Nosizwe Dlengezele, the Regional Sales Executive for GE Gas Power Sub-Saharan Africa joined Business Day TV to discuss the role that gas will play in the region’s energy transition.
As the Ukrainian war enters its 9th day and bombs rain down on civilian targets and nuclear power plants are caught up in the crossfire while the West watches meekly on it’s been another grim week for the world. The ANC’s abstention at the UN vote a foghorn of the country’s complicity. The Constitutional Court’s dismissal last week of the public sector unions’ appeal clears the way for the tough negotiations on public sector wages that still lie ahead. And the desilting deluge at the JSE hits crisis levels with the announcement by PSG this week that it no longer sees value in remaining listed.
Let’s welcome the panel: Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes.
Exxaro’s delivered double digit profit growth during the annual period. The miner has reported a 58% jump in headline earnings per share while revenue rose by 13%, despite problems with South Africa's rail network, which weighed on production and exports. Business Day TV unpacked the results with Exxaro’s CEO, Mxolisi Mgojo.
Sibanye-Stillwater has posted record profit of R33.1 billion as the world’s largest platinum miner benefited from an improved operational performance in South Africa and a surge in rhodium prices. Business Day TV unpacked the performance with CEO Neal Froneman
FirstRand's reported a 41% jump in half-year profit. South Africa's largest bank, by market value, saw impairment charges fall from their pandemic levels, allowing the lender to unwind credit provision for Covid-19 related losses. Business Day TV spoke to CEO Alan Pullinger for more detail.
8 Days ago, with bombardments of artillery, heavy equipment and small arms, Russian troops launched attacks from Ukraine’s northern border with Belarus, across its eastern frontier with Russia, and in the south from Crimea, the Ukrainian peninsula Russia invaded and annexed in 2014. Vladimir Putin’s full-scale military invasion of Ukraine, what could be the largest conflict in Europe since the second world war, has sent oil prices soaring and crashed the Russian stock market and tanked the ruble.
Last night we saw an overwhelming vote at the UN General Assembly to condemn the Russian invasion of Ukraine: 141 in favour; 5 against; 35 abstaining. South Africa, on embarrassingly flimsy diplomatic grounds is among those that abstained. And one overriding question remains speculated about more than most. What is Putin’s end game here in a war he seemingly cannot win?
To ponder on that for a while and the broader market and economic implications Michael Avery is joined by Brooks Spector, who settled in Johannesburg after a career as a US diplomat in Africa and East Asia and Peter Little, Fund Management, Anchor Capital
Murray and Roberts is back in the back. The engineering group has reported a return to profit with headline earnings coming in at R51 million during its first half, from a loss of R111 million previously. The group says its financial results are evidence that its strategic efforts, especially over the past five years, are starting to bear fruit. Business Day TV caught up with the company’s CEO Henry Laas for more detail.
Cashbuild has reported a 27% fall in first-half headline earnings per share, with the impact of July’s civil unrest and looting weighing on its performance. The building materials retailer expects trading conditions to remain uncertain due to Covid-19 and its economic impact. Business Day TV unpacked the performance with CEO Werner de Jager.
We can take our minds of the Ukraine War and rising oil prices for a while as we settle in to talk about the world of building businesses and helping small businesses in particular bounce back from the pandemic. The following is an extract from my next guest’s new book, entitled the Business Builders Toolkit: “Building businesses is hard and lonely work. It’s often thankless work that has, in recent times, been glorified as the work of the gods. But you and I know better. It’s not the work of the gods done in the heavens, it’s more like the work of the insane done in the trenches, wading through shit looking for a magical diamond that we aren’t even sure exists, can’t see and aren’t convinced we 100% believe in. It’s messy, it’s wonderful, it’s dangerous and difficult, it’s brutal, it’s intense, it’s rewarding and soul-crushing, and it’s the only way I know how to exist.” The book is also available at http://www.nharry.com.
The author joins us now: Nic Haralambous, well-known entrepreneur author and speaker
International investors have been dumping local bonds over the past week, with data showing that net sales amounted to R3.4 billion. This comes as emerging market sentiment soured on the back of escalating tensions between Ukraine and Russia. Business Day TV discussed this in detail with RMB's Fixed Income and Currency Analyst Kim Silberman.
The JSE has given shareholders a reason to smile. Africa's largest stock exchange has increased its annual dividend by 4% to R7.54 and declared a special dividend of R1. The hefty payout comes despite pressure from the low interest rate environment, which weighed on finance income and earnings. Business Day TV discussed the group’s annual performance with CEO Leila Fourie.
Impala Platinum has posted a 4.3% drop in interim headline earnings, as the world’s third-biggest platinum miner had to contend with intermittent power supply, industrial unrest and extended safety stoppages during its half year to end-December.Business Day TV unpacked the performance with CEO Nico Muller
Last month we started the animal spirits by saying that the standoff over Ukraine remains a thorn in the market's side, with concerns a Russian invasion would also cut vital gas supplies to western Europe.
Well those concerns and worst fears were realised and have dominated moves in asset prices for the last week especially with oil and gas prices spiking along with gold and PGMs and other agricultural commodities.
The ruble crashed harder than a Russian tank outside Kiev and so did the Russian stock market as the scale of unprecedent western sanctions start to bite. And today we see Putin bombing civilian targets as the nluclear threat he issued on Sunday looms horrifically over this entire sorry mess.
Let’s find out what the animal spirits are telling us with Chris Holdsworth, chief investment strategist at Investec Wealth and Investment.
Ukrainian authorities have called for an immediate ceasefire with talks taking place with Russia at the Ukraine-Belarus border on day five of Moscow's invasion. Business Day TV analysed the situation and its impact in greater detail with Adrian Saville, Investment specialist at Genera Capital AND Professor in Economics at GIBS.
RCL Foods has posted a 21.5% jump in its interim headline earnings, as volumes improved and as group gained market share. Business Day TV unpacked the performance in more detail with CEO Paul Cruickshank.
Harmony Gold’s reported a 69% slump in half-year net profit. South Africa’s largest gold producer had to contend with a conveyor belt failure at its Hidden Valley operation in Papua New Guinea and seismic concerns that have brought forward the closure of the group's Bambanani mine by two years. Business Day TV spoke to CEO Peter Steenkamp for more detail.
At the DealMakers magazine black tie gala event South Africa’s top dealmakers and corporate financiers, and legal advisers were recognised.
As editor Marylou Grieg points out, extracting those deals executed by companies with secondary listings on the JSE, local deal activity for the year was R484,6bn; a level not seen since 2015. Depressing indeed.
The largest deal by a South African listed company (by value) was the acquisition by Vodacom of a 55% stake in Vodafone Egypt, valued at R41,6bn.
The deal is a game changer for Vodacom as it seeks to diversify its revenue stream, and to rival MTN on the continent. The deal was unsurprisingly awarded the Brunswick Deal of the Year for 2021.
Drilling down, of the 472 deals announced in 2021, the real estate sector dominated, making up just under a third of all deals recorded by DealMakers, and valued at R93bn.
Michael Avery is joined by Christo Els, senior partner and chairman of Webber Wentzel; Lydia Shadrach-Razzino, executive corporate commercial at ENS Africa and winner of the DealMaker of the Year; Krishna Nagar, Co-Head: Corporate Finance at Rand Merchant Bank and Vodacom CFO Raisibe Morathi
South African taxpayers have been given a break. In his Budget Speech, Finance Minister Enoch Godongwana announced that the corporate tax would be reduced to 27% and that personal income tax brackets have been adjusted for inflation. The Minister further commented that many households and businesses are still under financial pressure and that now is not the time to increase taxes. Business Day TV caught up with Registered Tax Practitioner & Director of Product Compliance at Sage Africa & Middle East, Yolandi Esterhuizen for her view on the budget.
2021 was a big year for cryptocurrency. But what’s next in 2022? We’ve seen Bitcoin hit multiple new all-time high prices — followed by big drops — and more institutional buy-in from major companies. Ethereum, the second-biggest cryptocurrency, notched its own new all-time high recently as well. U.S. government officials and the Biden administration have increasingly expressed interest in new regulations for cryptocurrency. All the while, people’s interest in crypto has skyrocketed: it’s a hot topic not only among investors but in popular culture too, thanks to everyone from long-standing investors like Elon Musk to that kid from your high school on Facebook. We’ve invited a panel of crypto experts to give us their views:
Badi Sudhakaran, Co-founder and Chief Product Officer at VALR.com Marius Reitz, General Manager for Africa at Luno Brett Hope Robertson, Head of Investments at Revix Gaurav Nair, co-founder of Jaltech, an alternative assets financial services group
Growthpoint Properties will convert one of its office parks into residential units, as the landlord seeks to offset the glut in office space by capitalising on the growing need for homes. Business Day TV spoke to Growthpoint's Head of Office Asset Management Unit Paul Kollenberg, for more detail
Oil prices have eased from 7-year highs, ahead of talks nuclear talks between US and Iran. Business Day TV caught up with Raymond Philips, Commodities Trader at RMB, and discussed the kind of impact these talks could have on prices going forward
Parliament has set aside R4 million for this year's State of the Nation Address, which will take place at the Cape Town City Hall after a blaze destroyed some parliamentary buildings last month. The annual address by President Cyril Ramaphosa will outline government's plans for the year. Business Day TV spoke to Lumkile Mondi from Wits University's School of Economics and Finance for his assessment of the political climate the address is taking place under
Last month Basic Education Minister Angie Motshekga chose to highlight that the matric pass mark has crept up to 76.4%, from 76.2% last year, which, given the Covid affected school year, was at least a pass. What the Minister neglected to say was that a mere one in five of the class of 2021 managed to pass maths and the results is worse for science. This hasn’t changed since 2009. And shockingly In South Africa 78% of children do not learn to read for meaning by the age of 10. A glaring failure in an area all South Africans can agree requires urgent intervention.
To talk about the Education Crisis, Michael Avery joined by former Banker, Academic and Public Figure, Colin Coleman & Judy Sikuza, CEO of The Mandela Rhodes Foundation
South Africa's Minister of Mineral Resources and Energy Gwede Mantashe, says energy poverty can be avoided if the country increases the use of nuclear and gas in its energy mix. Business Day TV spoke to Energy Analyst Chris Yelland and Tracey Davies, Executive Director of Just Share for their thoughts on what an updated Integrated Resource Plan (IRP) should look like for the country
Small cap stocks had a bumper 2021. The JSE's Small Cap Index rose by over 50% during the year, further helping the sector garner investor interest. One of the company's in focus is Trellidor, Business Day TV caught up with the company's CEO Terry Dennison, and discussed its future prospects.
Conflict between Russia and Ukraine continue to escalate. France's President Emmanuel Macron is meeting with Russia's Head of State Vladimir Putin to try and calm tensions . Business Day TV discussed the impact these tensions have had on markets with Oanda's Craig Erlam
Part One and Two of Deputy Chief Justice Raymond Zondo’s State Capture report, propose far-reaching measures to curb state lawlessness, corruption and malfeasance. In particular part II deals in detail with what Zondo calls racketeering involving key politicians and directors of Transnet and other private companies and how this relates to POCA in terms of securing successful prosecutions. Former Deputy Chief Justice Dikgang Moseneke and Constitutional Court Judge Edwin Cameron were also vindicated by the commission for their dissenting view in the controversial 2011 Glenister v President of SA judgment But it also raised several issues regarding public procurement
To discuss these Michael Avery is joined by Stefaans Brümmer, experienced investigative journalist and co-founder of the amaBhungane Centre for Investigative Journalism, 12 years ago; Mzukisi Kota, Partner, Webber Wentzel & Wayne Duvenage, CEO of the Organisation Undoing Tax Abuse
What a week its been with big tech sending mixed messages as Google and Amazon beat while Meta, tesla, Paypal and Netflix all plummeted.
Global equity markets slumped lower on Thursday while gold prices steadied and the dollar weakened as frightened investors digested disappointing updates from major central banks about the outlook for inflation and interest rates.
The European Central Bank and the Bank of England soured investor sentiment around inflation on Thursday.
Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
OneLogix has withheld its interim dividend, citing prevailing uncertain economic circumstances. The transport and logistics group says it experienced anaemic demand for its vehicle storage facilities in the six months to end November, as computer chip shortages affected the delivery of passenger and commercial vehicles. Business Day TV analysed the performance in greater detail with CEO Ian Lourens.
Pepkor’s expanding into South Africa and has bought an 87% stake in Brazilian merchant Grupo Avenida. The retailer did not put a price on the acquisition but has shared that it was less than 4% of the group’s market value, or less than R3.2 billion. Business Day TV spoke to CEO Leon Lourens for more detail.
Retailers have been unevenly impacted through the pandemic and are staging an unequal recovery by the looks of things.
Several big South African retailers released their Festive Season trading updates recently. While the YoY growth reported was strong, it should be kept in mind that the stricter COVID-19 restrictions in late 2020 meant that the base was relatively weak.
To talk about the SA retail recovery Michael Avery is joined by Zinhle Mayekiso, Investment analyst at Anchor Capital and independent analyst as well as Business Day Columnist Chris Gilmour
Ascendis Health has no plans on delisting, despite the firm’s plans to sell three of its remaining businesses for R802 million. Business Day TV spoke to the Group CFO and Interim CEO, Cheryl-Jane Kujenga for more detail
Tech investors have experienced a wild ride with the Nasdaq recording a 13% decline in January, but a recovery appears to be on the cards with tech firms releasing upbeat fourth quarter earnings. Business Day TV caught up Anchor Capital's Henry Biddlecombe for his take on the performances delivered by US tech stocks.
Eskom has implemented stage 2 load shedding. That's as breakdowns at the state utility's power stations have put the grid under pressure. State 2 blackouts cost South Africa about R470 million a day, according to recent calculations by Eskom.Business Day TV caught up with Jan Oberholzer, COO of Eskom for an update on the grid.
A slew of European inflation data hit the tapes yesterday and we saw massive moves at the short end of European yield curves as investors started to price a whole 25bps in ECB rate hikes this year .
It probably isn’t much consolation that the US isn’t alone in struggling with the highest inflation in 40 years. In the European Union, prices are rising faster than at any time since the euro currency was introduced.
Recently Stats SA reweighted the CPI basket and its clear we are drinking more gin to cope with the current sad state of the nation.
To talk about the inflation bogeyman facing consumers and policymakers around the world Michael Avery is joined by Investec Chief Economist Annabel Bishop and Mike Schussler, of economists.co.za
The local unit started the new month on a positive note and made gains on the back of a softer dollar. Business Day TV discussed these moves in detail with RMB’s Fixed Income and Currency Strategist, Varushka Singh
Mineral Resources and Energy Minister Gwede Mantashe has faced backlash for supporting coal mining but some analysts support his stance and say demand for coal will not be slow down anytime soon. Business Day TV spoke to Peter Major Mining Analyst at Mergence Corporate Solutions for his view on the coal sector.
South Africa's manufacturing activity picked up pace in January. Absa's Purchasing Managers Index rose to 57.1 index points from 54.1 in the previous month. The improvement is largely due to a rebound in business activity. Business Day TV discussed the print and the outlook for the sector with Miyelani Maluleke, Senior Economist at Absa
It was a week full of rough sees in local and global markets last week as the JSE all share gave back -1.84% for the week. Monday's panic selling doing most of the damage. Inflation fears, and interest rate hikes set the scene for selloffs in growth counters, aided by the Ukraine-Russia standoff, which sent panic rippling through energy sector, as oil & gas prices rocket higher and Sasol ended the week just over 10% up. Data out on Sunday showed China's factory activity slowed in January as a resurgence of COVID-19 cases and tough lockdowns hit production and demand. The standoff over Ukraine remains a thorn in the market's side, with concerns a Russian invasion would also cut vital gas supplies to western Europe.
To find what the animal spirits are telling us, Michael is joined by Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
Spear Reit has concluded a capital raise worth R254 million. The group says it will use these funds to acquire more assets in the Western Cape. Business Day TV spoke to CEO Quintin Rossi for more detail.
The Presidential Economic Advisory Council (PEAC) has warned against implementing a basic income grant, saying the cost could deepen debt and hinder South Africa’s economic growth. Business Day TV discussed this in greater detail with Duma Gqubule, the founding director of Centre for Economic Development & Transformation
Rand Swiss recently hosted an excellent crystal ball gazing session and given the volatility in markets, the jitters around how this period of interest rate normalisation is going to play out, the renewed geopolitical tension in Europe, it’s worthwhile doing some forecasting and scenario planning with Gary Booysen, Director and Portfolio Manager at Rand Swiss; Nick Kunze, Portfolio Manager at Sanlam Private Wealth & Mia Kruger, Director of Research & Fund Management at Kruger International Asset & Wealth Management
Festive season spending bounced back last year. According to research done by Bankserv, sales in December beat the previous year's levels after jumping by 35% to reach R93 billion. Business Day TV caught up with Mike Schüssler, Chief Economist at Economists.co.za and discussed some the factors that boosted sales
"It's been a remarkable week so far in financial markets and it seems there's still plenty more to come. First Fed Chair Powell set the table with the signal that rates will start rising in the US in March. Then the SA Reserve Bank's monetary policy committee increased its benchmark repo rate by 25 basis points to 4%, as expected.
To put the week into perspective: Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes "
Vukile Property Fund is betting on the Spanish property market. Its subsidiary Castellana Properties Socimi has acquired a 21.7% stake in its market peer, Lar España Real Estate Socimi, for around R1.7 billion. Business Day TV discussed the rationale behind the acquisition with Vukile Property Fund's CEO, Laurence Rapp.
South Africa's Monetary Policy Committee has raised interest rates by 25 basis point. The hike takes the repo rate to 4% and marks the MPC’s second consecutive increase. Business Day TV unpacked the decision with Kevin Lings, Chief Economist at Stanlib
We live in turbulent and complicated times and business schools are not immune to the uncertainties that now afflict so many aspects of our social and economic lives. Covid just brought forward some of the searching questions around the future of business schools and the much-debated MBA. Top business schools often describe their mission as educating leaders yet many think that the world is currently experiencing a crisis of leadership that has helped create our current problems
To talk about this Michael Avery is joined by NWU Business School Director Jan van Romburgh; Maurice Radebe, Head and Director of Wits Business School & Jon Foster-Pedley, Dean and Director of Henley Business School Africa
Telkom has been accused of corruption and maladministration. The Special Investiagations Unit will be looking into the allegations which span as far back as 2006 and the probe primarily involves the group's foray into Nigeria and Mauritius with the disposals of iWayAfrica, Africa Online Mauritius and Multi-Links. Business Day TV spoke to Bryan Turner from World Wide Worx for more detail on the matter.
Despite some JSE companies delivering good returns, analysts have warned that a number of macroeconomic issues may weigh on the local market and have advised investors to consider global stocks. Business Day TV spoke to the CIO of Old Mutual Wealth Private Client Securities Andrew Dittberner about his top 3 international stock picks
As we look forward to another year of higher learning, MBA students will soon enter an era of unbelievable opportunities and monumental challenges: the smart machine age, or SMA. The SMA will probably be as, or even more, disruptive for them as the industrial revolution was for their ancestors. Technology led by artificial intelligence, smart robots, nanotechnology, the internet of things, increased global connectivity and computing power, biotechnology and genetic engineering, will redefine work and transform how businesses are staffed, operated, and managed. Smart technology is already moving beyond manufacturing into the service industries and the professions, such as medicine, finance, accounting, management consulting and law. Businesses will reduce their headcount, because humans will only be needed for jobs that technology will not be able to do well: involving higher order critical, creative, and innovative thinking and/or emotional and social intelligence.
Joining Michael Avery for this discussion is Johan Steyn, a smart automation and artificial intelligence thought leader; Randol Carolissen, Dean of the Johannesburg Business School & Barry Dwolatzky, Director of Innovation Strategy in the Office of the Deputy Vice-Chancellor: Research & Innovation at Wits
Despite the prospect of higher interest rates this year, South African bonds are faring well and outperforming its global peers. Business Day TV caught up with RMB's Michelle Wohlberg to discuss why local bonds are in favour.
High levels of corruption are showing no signs of abating, according to Corruption Watch executive director Karam Singh. That's as South Africa has fallen in the Corruption Perceptions Index and ranks 70 out of 180 countries. Business Day TV spoke to Singh for more detail.
Microsoft’s audacious $69 billion move on games publisher Activision Blizzard has detonated a bomb under the games industry. Along with the proposed deal’s sheer size, the prospect of a tech giant worth more than $US2 trillion making a grab for games industry leadership has prompted breathless speculation about whether it will precipitate wider industry realignment. Games like Activision’s “Call of Duty” now attract hundreds of millions of players between them.
To talk about what this means for the gaming industry and the future of the market in Africa Michael Avery is joined by Petri Redelinghuys, Founder of Herenya Capital; Jay Shapiro CEO of Usiku Games, building a Gaming For Good movement across Africa & Seleho Tsatsi, Co-manager of Anchor Global Technology Fund
Following news of an accounting scandal in 2017, Steinhoff has been dealing with legal battles that have threatened the company's existence but the retailer can now put those issues to bed. The Western Cape High Court has approved the group's bid to have its near R25bn settlement proposal made final and binding which will allow Steinhoff to make payments to the affected parties. Business Day TV spoke to Steinhoff CEO Louis du Preez for more on what this victory means for the retailer's recovery efforts moving forward
In an attempt to answer the question of why South Africa’s global competitiveness remains below that which is required to attract investment both local and domestic, former Statistician General and modeler with the Indlulamithi Scenarios and Moeletis Mbeki pointed the finger at executive pay. Just quite how this conclusion is arrived at after reading the Zondo Commission Report, stretches credulity somewhat.
Corruption, BEE, AA, Skills emigration, a failing education system, declining respect the rule of law, the threat of EWC and NHI, the ill conceived Mining Charter, cadre deployment, uncompetitive tax rates, all contribute to the cost of capital remaining well above that which would be sufficient to attract investment into real assets that would offer returns and jobs. Michael Avery is joined by former statistician general Dr Pali Lehohla, and Mike Schussler, of economists.co.za"
Mounting expectations of rapid Fed tightening has dominated market sentiment so far this year, but not all central banks are on the same page
To put the week into perspective Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Capitec's share price has come under pressure after the bank indicated that a proposed broad-based BEE (BBBEE) deal for staff could impact earnings. Business Day TV spoke to Capitec co-founder and CFO Andre du Plessis for more detail on the transaction
25% of professional OBGYns are departing private practice due to the high cost of professional indemnity cover, medical malpractice insurance. So we lose a mid-career professional, someone who has studied, gained over fifteen years of experience and could have mentored and trained the junior doctors, who by all accounts require mentoring.
On the other hand we have to ensure that our medical practitioners perform to the highest standard and that those that suffer due to negligence or worse, are adequately compensated for their loss pain or suffering. PRESSURE is building to change laws dealing with medical negligence claims, which have become a cash-cow for some law firms that specialise in taking up matters on behalf of patients.
To talk about Medical Negligence reform in SA, Michael is joined by Ronel van Zyl, Senior State Law Adviser; Greg Whittaker, a member of the Actuarial Society & Dr Ismail Bhorat, an obstetrician and gynaecologist and a subspecialist in foetal-maternal medicine
South Africa’s listed property index hit a nine-year high in 2021. Business Day TV caught up with property analyst at Nedbank CIB, Ridwaan Lonaat for a look at whether this momentum can be sustained in 2022
Business Leadership South Africa (BLSA) has accepted consulting firm Bain’s decision to withdraw from the business body, following backlash over its involvement in the capture of the South African Revenue Service (Sars). Business Day TV spoke to Busi Mavuso, CEO of BLSA for more detail
Our terms of trade was a key positive last year, an important underpin to the rand and remains at elevated levels relative to history which bodes well for the fiscus but is now more than 17% off recent highs. Key export commodities like Iron ore and the PGM’s have rolled over to some extent. Coal thankfully at elevated levels but Transnet woes continue to limit our export capacity.
The question is, what is the outlook for PGMs given this backdrop?
To discuss this Michael Avery is joined by Rene Hochreiter, Mining Analyst at Noah Capital; Dale Hutcheson, PM who co-manages the Absa Prime Equity fund & David Jollie, Head of Sales and Market Insights at Anglo American Platinum
Mining production rose 5.2% year on year in November, beating market expectations for a 3.5% increase. The rise was supported by a surge in the production of Platinum Group Metals (PGM). Business Day TV spoke to RMB economist Siobhan Redford for her analysis of the data and how it positions the mining sector in 2022.
State power firm Eskom says it needs a 20.5% electricity tariff hike in April as it struggles with costs related to Independent Power Producers (IPPs) and carbon taxes. But civil society and the City of Tshwane are pushing back against the proposal as both are concerned that consumers will not be able to afford the increase. Energy regulator Nersa has until February 25 to make a decision on the matter. Business Day TV spoke to independent energy analyst Ted Blom for his assessment
The past year has seen exceptional activity for private equity, especially in Africa. With economies across the continent still struggling in the grip of the pandemic after 2020 and vaccine rollouts lagging behind those of developed nations, expectations were set low. But by the end of the first half of 2021, roughly R20bn in private equity investments had been made across the continent and total investments for the year were set to exceed those of 2020. While the past two years have shown just how difficult it is to be certain of anything, that’s a promising sign going into 2022. But numbers alone don’t tell us everything we should be on the lookout for over the course of the next year. We should also look at the overall investor environment (which is increasingly influenced by concerns around the natural environment) as well as growth areas and industries. With rates set to rise, how will Private equity respond to rising rate environment?
To talk about this Michael Avery is joined by Samantha Pokroy, founder and CEO of Sanari Capital; John Bellew, Head of Private Equity at Bowmans; Langa Madonko, SAVCA Board member and new Deputy President of Absip & Andrew Dewar, Managing Partner at Rockwood
Adapt IT is the first company to have delisted from the JSE this year. This due to a successful takeover bid by Volaris at R7 per share. Volaris now owns almost 64% of business, what does this mean for Adapt IT moving forward? Business Day TV spoke to company's CEO Tiffany Dunsdon for more detail.
South Africans will soon be facing a possible return to darkness after Eskom warned of looming system constraints, due to the extended unavailability of the Koeberg Nuclear Power Station’s units in 2022 due to planned outages.
This as Eskom has applied for an electricity price increase of 20.5% for the 2023 financial year, which commences on in April, as the utility continues to look for ways out of its balance sheet bind. This remains the single biggest binding constraint on the South African economy.
Denker Capital released a report late last year proposing a solution to Eskom’s balance sheet problem.
To discuss this Michael Avery is joined by Energy analyst Chris Yelland, Madalet Sessions, PM at Denker Capital, Sithembiso Garane, Head of Listed Credit at Futuregrowth and Peter Becker, spokesperson for the Koeberg Alert Alliance (KAA]
Eskom has posted a significant improvement in its financial results, with a half-year net profit after tax of R9.2bn, compared to breakeven in the prior period. Alishia Seckam spoke to Eskom CEO Andre de Ruyter for more detail on how this was achieved.
As 2021 draws to a close, Alishia Seckam speaks to Old Mutual Wealth investment strategist Izak Odendaal about the themes that drove markets during the course of the year and what themes could shape investment in 2022.
On Thursday, 5 March 2020, 651 days ago, the National Institute for Communicable Diseases confirmed that a suspected case of COVID-19 had tested positive. It feels like this news report took place years ago and that COVID-19 has been with the world for much, much longer. Now, 21 months into the pandemic, 251m confirmed cases of COVID-19, 5m deaths, and 7.1bn vaccine doses later on a global scale, many parts of the world remain in limbo and struggling to recover. It’s time to consider the new reality that is emerging in the wake of the coronavirus pandemic, and ask what it means for politics, economics, business.
Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Persistent inflation, the Covid-19 pandemic and numerous global headwinds continue to weigh on investor confidence. Business Day TV spoke to John Cairns from RMB for a look at how these themes will drive the direction of markets in 2022.
Loadshedding, water outages and cable theft are weighing on South Africa's economic activity potential. According to the BankservAfrica, these factors were largely responsible for the 2.3 point decline registered by its index that tracks economic activity. Business Day TV unpacked the print in greater detail with Mike Schüssler, Economist at economists.co.za.
Central bank decisions are the theme of the week, with the Bank of England, the Bank of Japan, the European Central Bank and the US Federal Reserve all meeting in the coming days. The Fed is set to be the most highly-anticipated, with analysts expecting central bankers stateside to increase the tapering of its bond-buying programme to $30bn per month from the current $15bn, in the face of sustained and growing consumer inflation. Rising interest rates and inflation are in the news. For many, this can impact one’s financial quality of life as affording usual comforts becomes increasingly more expensive. But what does this mean for your investment strategy and portfolio construction into the New Year?
Michael Avery is joined by Peter Little, Fund Manager at Anchor Capital; Sumesh Chetty, Portfolio Manager Ninety One & Old Mutual Wealth Investment Strategist, Jason Swartz
The Competition Commission and private pathology laboratories Ampath and Lancet, have reached an agreement which will see the price of PCR tests reduced by 41%. Business Day TV spoke to Siyabulela Makunga, spokesperson for the Competition Commission for more detail.
It’s time to consider the new reality that is emerging in the wake of the coronavirus pandemic, and ask what it means for politics, economics, business. While the IMF is cautioning that the Omicron variant could shave a few percent off global growth the figure is still double that of SA’s expected GDP next year. Crony capitalism, blackouts and scant investment left South Africa in a second recession in two years before the pandemic hit. The virus then pushed unemployment above 30%. Anger at decades of graft and the failing economy helped fuel riots in July. With a large mining industry, South Africans’ hopes for a brighter economy in 2022 rest in part on high prices for what we dig up. But how long will it take to fix the deeper problems?
To discuss this Michael Avery is joined by Gina Schoeman, Economist & Head of Research at Citi; Dr Lumkile Mondi of the School of Economics and Finance at Wits and Richard Calland, associate professor in public law at the University of Cape Town and a founding partner of the Paternoster Group
What’s happening in the markets now? England is going under tougher COVID-19 curbs, BoJO is getting roasted for last year’s Christmas party while Christmas parties are being cancelled across Europe and the United States, and Jefferies became the first big Wall Street bank to send employees home. But with focus returning to central banks and inflation, the rally has lost some of its edge. European and U.S. futures are flatlining, and a global equity index paused near two-week highs. The rand, meanwhile, ended a three-day winning streak, reaching an intraday low of R15.99/$, dropping almost 2% as manufacturing output slumped far more sharply than expected in October. Data showed industrial production fell 8.9% year on year, versus economists’ predictions for a 1.4% decline, probably because of a strike in the steel and engineering sector.
Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Construction activity has registered an improvement in the third quarter. According to the Afrimat’s Construction Index activity rebounded by nearly 3% during the period. The upswing was led by rebuilding efforts as companies had to repair damages that were caused by the civil unrest that took place in July. Business Day TV spoke to Independent Economist Roelof Botha for more detail.
Gauteng’s budget for the 2021/22 financial year has been increased by R7 billion to support economic growth and recovery efforts, create jobs and fight COVID-19. Business Day TV spoke to Finance and e-Government MEC Nomantu Nkomo-Ralehoko for more on detail on how the purse strings have been adjusted.
Fighting climate change is vital to equitable global development and poverty reduction—and international trade can have an important role to play in this. Trade can help countries adapt to higher average temperatures and more extreme weather events by offering consumers lower-emissions goods and services and facilitating the use of climate-friendly technology. But climate change may also negatively affect trade as extreme weather events raise the cost of trade, by destroying or degrading transport infrastructure and reducing agricultural production. And importantly for us here in South Africa with our still globally high carbon intensive inputs in key exports, green border taxes could serve as form of green protectionism as input costs in the developed world rise in the wake of those countries’ energy transitions.
To discuss this Michael Avery is joined by Andrew Gilder Director of Climate Legal & Duane Newman, Partner at EY Cova
Business confidence dimmed in November. The Chamber of Commerce's morale indicator declined to 92.8 points from a reading of 94.9 previously, largely due to a lag in exports and imports. Business Day TV spoke to Sacci CEO Alan Mukoki for more detail
Oil prices have steadied above $75 a barrel with investors assessing the impact of the new Covid-19 variant on the global economy as well as fuel demand. Business Day TV discussed the outlook for oil with David Elmes from Warwick Business School
Omicron, inflation, China’s debt fuelled property house of cards, investors seemingly fear none of these as markets are staging a nice little Santa Claus rally into year end.
The JSE reached a record high on Tuesday tracking the rally in global markets as concerns about the Omicron variant of Covid-19 eased.
The JSE all share gained more than 2% — the most since March — as early indications suggest that the latest strain of the virus isn’t as severe as initially feared.
Michael Avery talks to Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
The rand has edged closer to R16 to the dollar as South Africa’s GDP print surprised to the downside with the economy contracting BY 1.5%. Business Day TV unpacked the moves playing out in the currency scene with RMB's John Cairns
Tymebank has bagged funding for its expansion plans. The digital bank as it secured $180 million in its series B-capital raise,from investors like Tencent and CDC Group. Business Day TV spoke to TymeBank’s CEO Tauriq Keraan for more insight
Compulsory Covid-19 vaccination is being considered by South Africa’s government as a weapon against the virus amid a sharp increase in new infections. Business Day TV spoke to Alex Van Den Heever, Health & Social Security Systems Specialist at Wits University for his take on the country's response to the new variant
Financial services group Alexander Forbes has declared a half-year dividend of 12c per share despite reporting a drop in profit. Alishia Seckam unpacked the rational behind that decision with the CEO of Alexander Forbes, Dawie de Villiers
Africa's largest packaging group Nampak has returned to profit in its 2021 financial year thanks to strong export sales and growth in Nigeria. But despite the rebound, the firm has decided to not declare a dividend as it looks to get its debt back to more sustainable levels. Alishia Seckam spoke to Nampak CEO Erik Smuts for more detail
Ford says it will invest R600m in its Struandale Engine Plant in Gqeberha as part of its commitment to modernizing and growing its local operations. Alishia Seckam spoke to Ford SA's VP of operations, Ockert Berry for more insight
Impala Platinum (Implats) has increased its stake in Royal Bafokeng Platinum (RBPlats) to almost a third. Implats is hoping to acquire the miner but says it will settle for a majority stake. Alishia Seckam spoke to Implats CEO Nico Muller for more detail on the rational behind the move
The collapse of the giant Chinese property developer Evergrande, the purchase of Newcastle United by the Public Investment Fund of Saudi Arabia, the unprecedented shortage of truck drivers in the UK, skyrocketing fuel prices across Europe, the seemingly unwavering popularity of cryptocurrency (despite its obvious flaws), the incredible rise of global inequality, the spectre of inflation – these are just a few examples of the news headlines we are observing on a daily basis, a smorgasbord of chaos, disruption and uncertainty, underscored by the diminishing desire of the West to promote global democracy and ideals.
Michael avery talks to David Buckham (CEO of Monocle), co-author of a fascinating page turner of a new book entitled The End of Money: The Great Erosion of Trust in Banking, China’s Minsky Moment and the Fallacy of Cryptocurrency
SA’s vaccination programme is lagging with just 35% of the population inoculated. To address this, government is weighing up the possibility of a vaccination passport which may prohibit unvaccinated South Africans from being able to access public services and places of employment. Corporates are also doing what they can to increase vaccination rates. Discovery will make jabs compulsory from January 1 for its staff and since making the announcement three months ago, 94% of the group’s employees have received the shots. Alishia Seckam spoke to the head of Discovery’s Covid task team, Ron Whelan for more insight.
Factory activity picked up pace in November with the Absa Purchasing Managers Index (PMI) rising to 57.2 points from a revised 53.6 points in October. The increase was largely due to a rebound in business activity and new sales orders. But with the sector having to face rising input costs, supply chain bottle necks, weak economic growth and load-shedding can the positive momentum be sustained? To find out Alishia Seckam spoke to Absa senior economist Miyelani Maluleke
Just when we were beginning to relax, planning end of year celebrations and long-awaited holidays, SARS-COV-2 has mutated into a new variant that has shattered the complacency of the last few months. While there has been much wailing and gnashing of teeth South African scientists did the right thing in announcing to the world they had identified a new variant of concern on Thursday afternoon and classified by the World Health Organization on Friday as “Omicron” a variant of concern. There is a lot we don't know about Omicron, but markets have been forced to reassess the global growth outlook. Pfizer expects to know within two weeks if Omicron is resistant to its current vaccine, others suggest it may take several weeks. Until then markets are likely to remain jittery. Is the hype justified and what does it mean for business into December? To find out Michael Avery is joined by Professor Adrian Puren, Head of the Centre for HIV and STIs and currently Acting Director at the National Institute for Communicable Diseases (NICD); Dr Stavros Nicolaou, head of the health working group for B4SA & Tshifhiwa Tshivhengwa - Chief Executive Officer – TBCSA & Dr Angelique Coetzee, the head of the SA Medical Association
African Bank is back in the black. The group has cited strong collections and growth in retail deposits, along with a lower credit impairment charge for its recovery.. Alishia Seckam unpacked the performance in greater detail with CEO Kennedy Bungane
Speaking to two CEO’s recently Dominic Sewela of Barloworld and Roland Van Wijnen of PPC, it’s clear that our grand infrastructure plans are still stuck in 1st gear. Predictably, President Cyril Ramaphosa’s Economic Reconstruction and Recovery Plan placed a grand R1 trillion infrastructure plan (leveraging up to R660bn of ‘crowded in’ private sector capital, or so it is hoped) at the centre. But plans are wearing thin and only execution matters at this late stage to pull South Africa back from the brink of failed statehood. We recently saw the launch of the Asset Owners Forum South Africa, which seemed to pass without much fanfare To find out what this means and whether this will get our stalled infrastructure programme out of 1st gear Michael Avery is joined by Ndabezinhle Mkhize, Chief Investment Officer; Eskom Pension & Provident Fund, Chair of the Asset Owners Forum South Africa & Emile Du Toit, MD: Fund Raising and Liabilities Management at Harith General Partners
It’s more Bleak Friday than Black Friday… not good news for the rand or our tourism sector as the UK places the country temporarily back under red list travel restrictions after scientists raised the alarm over the new Covid-19 variant yesterday afternoon. And the rand has weakened to over R16 to the dollar. About 35% of South Africans are fully vaccinated, higher than in most other African nations, but half the government’s year-end target. It has averaged 106,000 doses a day in the past 15 days in a nation of 60-million people. We need to start seeing an urgent increase in vaccination rates to avoid the worst impacts of a new variant on our healthcare system and economy.
To put the week in perspective Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
The JSE’s small-cap sector has proved its worth with the index that tracks these industry players rising close to 20% year to date. Business Day TV spoke to Small Talk Daily’s Anthony Clark for his stock picks in the small-cap sector
Investment holding and management company Invicta says it's delivered an excellent set of results for the six months to end-September. The firm posted a 25% rise in revenue from continuing operations and a 55% jump in operating profit. Alishia Seckam spoke to Invicta CEO Steven Joffe for more detail
Agricultural services group Kaap Agri more than tripled its total dividend for the year to end-September as revenue at its retail-focussed business units returned to pre-Covid-19 levels. Alishia Seckam caught up with Kaap Agri CEO Sean Walsh for his take on the group’s financial performance
Mergers and acquisitions (M&A) activity in South Africa soared during the first half of the year. Deals worth $52 billion have been recorded and analysts believe activity will remain strong going into 2022. Business Day TV spoke to Patrick Leyden, Partner at Herbert Smith Freehills for more detail
Ethos Private Equity and African Rainbow Capital have teamed up to acquire fintech platform Crossfin. The R1.5 billion transactions is one of the largest private equity-led investments in the fintech sector locally. Business Day TV discussed the acquisition in more detail with Edward Pitsi, Managing Partner at Ethos Mid Market Fund and ARC's deal executive, Charmaine Padayachy.
South Africa’s business confidence remains subdued. The RMB/BER sentiment index came in unchanged at 43 in the fourth quarter, as power cuts and intensifying supply chain issues weighed. Business Day TV unpacked the print with RMB Economist Sibohan Redford
The local unit has been under pressure hitting a one year low on Tuesday off the back of a stronger dollar as traders raised bets for quicker interest rate hikes in the US. Alishia Seckam caught up with RMB’s Varushka Singh for more detail.
Cement producer PPC more than tripled its profit in the six months to end-September as it benefitted from higher volumes and cost cutting measures. This comes after a torrid time for PPC where it’s been battling a large debt pile following its push into the rest of Africa. Alishia Seckam caught up with PPC CEO Roland van Wijnen to discuss the progress the group has made in getting its borrowings under control and how this sets the firm up for the future
Presidents from both SA and Kenya have addressed the South Africa-Kenya Trade and Investment Business Forum as the countries look for ways to strengthen ties between the two nations. Kenya’s Equity Bank is facilitating some of the deals that are being struck as a result of the engagements and Alishia Seckam spoke to the bank’s MD and CEO James Mwangi for more detail
Thungela Resources, a major coal exporter which demerged from Anglo American in June, saw its share price fall last month when it reduced its production targets in response to poor rail performance. Thungela and most other big coal miners are stuck. Their masses of export coal have always moved through Richards Bay Coal Terminal (RBCT) by rail. Comments by Transnet CEO Portia Derby are revealing. Poor maintenance is a notable problem, while many of Transnet’s troubles relate to procurement, she said, adding that the challenge of procuring quickly and competitively in the state is “really huge”. While Transnet has introduced a new procurement policy to streamline the process internally, approvals are still needed from the Treasury and can be particularly challenging when something is designated. For example, “track rails are not manufactured in SA and yet there is a designation that says we must buy them in SA. Now, you cannot imagine the time it takes to argue about that,” Derby said. Dreadful example of the costs of an ill-considered localisation drive. A recent Centre for Development and Enterprise sponsored paper shone a spotlight on the policy of localisation.
To talk about this Michael Avery is joined by Ann Bernstein, Executive Director of the CDE And Saul Levin, Executive Director of TIPS
Explosives, fertiliser and chemicals group Omnia has more than doubled its after-tax profit in the six months to end-September thanks to growing demand from SA's mining and agriculture industries for the group's products. Alishia Seckam caught up with Omnia CEO Seelan Gobalsamy to find out if the firm expects the strong demand to continue
Diversified industrial group Barloworld has bounced back during its 2021 financial year. The group has swung to headline earnings per share of R11.95 versus a headline loss per share of R2.86 a year ago. The improvement is as as a result of an impressive turnaround at the firm's Car Rental business which was hard hit by the fallout from Covid-19. The balance sheet recovery has allowed Barloworld to reward shareholders. The company has declared a special dividend of R11.50 per share and an ordinary dividend of R3 per share. Alishia Seckam spoke to Barloworld CEO Dominic Sewela about the company's prospects
Private hospital operator Netcare has resumed dividend payments with a final payout of 34c per share for its 2021 financial year as the group's operations have recovered from the initial impact of Covid-19. The pandemic has weighed on hospital groups as it has led to higher costs due to the increased need for PPE and lower activity levels as elective surgeries have repeatedly been put on hold to deal with Covid-19 cases when infection rates have surged. Alishia Seckam caught up with Netcare CEO Richard Friedland for more insight on the health of the firm's balance sheet as SA eyes a possible fourth Covid-19 wave
November marks the 134th anniversary of the Johannesburg Securities Exchange. It all harks back to the discovery of gold in the Wits basin in 1886, which resulted in the formation of the great mining finance houses with investors who needed a central facility to access primary capital. Initially trading took place in a miner' tent and moved to the stables at the corner of what in now Saur and Commissioner Streets.
To reflect on the history of the capital markets in SA and the road ahead it’sa great pleasure to welcome Dr Leila Fourie, Group CEO, Johannesburg Stock Exchange (JSE); Sasfin Securities’ Deputy Chairman, David Shapiro and Liston Meintjes, who is now independent but has had a storied career in investment management
South Africa joined a number of emerging markets including Brazil, Russia, Mexico and Poland in tightening monetary policy this year. South Africa, however, stands out as having only hiked by 0.25% as compared to more significant hikes in other countries. SA Reserve Bank Governor Lesetja Kganyago painted a bleak picture for South Africa's economic outlook with electricity shortages, worsening terms of trade and domestic investment that is likely to remain low as a result of the July unrest and the electricity situation. And still the governor hiked.
To put things into perspective Michael Avery is joined by Warwick Lucas Chief Investment Officer at Galileo Asset Managers; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Lumkile Mondi of the School of Economics and Finance at Wits.
The SA Reserve Bank’s monetary policy committee raised rates by 25 basis points on Thursday as it highlighted its concerns about rising inflation. The move indicates the slow turnaround from ultra accommodative monetary policy that was implemented to deal with the economic shocks caused by Covid-19. But with SA’s economy still being weighed down by civil unrest and power cuts did the bank make the right call? Alishia Seckam spoke to Citadel chief economist Maarten Ackerman for his thoughts on the matter
Private hospital operator Life Healthcare says its adaption to the Covid-19 pandemic and a strong showing from its international operations helped profits recover during its full year. Alishia Seckam spoke to CEO Peter Wharton-Hood for more detail on the group's operational and financial performance during 2021
Welcome, you're watching Climate Conversations on Business Watch with Michael Avery, COP26 has come and gone and we’re discussing whether we’re turning the tide on climate change brought to you by Investec..
It’s been an eye opening 8 week journey through the world of climate science, and politics. We’ve cut through the hype to the real issues so far in this series. We’ve debated the race to net zero and whether the science is congruent with the promises and greenwashing…the climate finance fight and how and how this is shaping responsible investing.
To review Cop 26 Michael Avery is joined by Olivia Rumble, director at Climate Legal; Professor Mark Swilling, Distinguished Professor of Sustainable Development at the School of Public Leadership, Stellenbosch University & Gaylor Montmasson-Clair, Senior Economist, TIPS
Fears around rising US inflation are weighing on the dollar carry trade in emerging markets. Alishia Seckam spoke to RMB's Kim Silberman for a better sense on what this means for South Africa, as an emerging market
The Intra-African Trade Fair, which is currently underway in Durban, aims to improve the ease of doing business on the continent. Business Day TV caught up with the John Rocha, Chief Director of Trade Africa Invest at the Department of Trade, Industry and Competition and discussed the role government is playing to ensure that South Africa is open for export and import opportunities
Spar has posted a near 3% rise in annual turnover and a 5.4% increase in headline earnings per share, supported by its Irish and Swiss operations. Alishia Seckam unpacked the performance with Spar’s CEO Brett Botten
Welcome to Business Watch and our final panel zooming in on the incredible leaders we have in the field of artificial intelligence in South Africa. Where we’ve been demystifying this buzz word, we’ve been talking about how AI is being applied inside business every day, what the challenges and misconceptions are and how we need to start thinking about this transformational technology.
to talk about AI in Africa and education Michael Avery is joined by Johan Steyn, Business Day contributor on tech and AI and Chair of the Special Interest Group on AI and Robotics with the Institute of Information Technology Professionals of South Africa & Pelonomi Moiloa – data scientist at Nedbank, Pelonomi graduated from Biomedical Engineering and then Electrical Engineering from Wits
The Intra-African Trade Fair (IATF) is currently underway in Durban with the event bringing together heads of state and leaders in the private sector to discuss a range of opportunities on the continent. One sector in focus at the IATF is the automotive industry and how it can promote industrialisation in Africa. Business Day TV caught up with Nissan SA MD Kabelo Rabotho for his view on how SA’s vehicle manufacturing sector can play a crucial role in furthering industrialisation goals on the continent
South Africa’s biggest taxi financier Transaction Capital says its 2021 earnings have rebounded to well above pre-pandemic levels thanks in part to a stellar performance from it’s debt-collection business. Alishia Seckam spoke to Transaction Capital CEO David Hurwitz about how this balance sheet strength sets the group up for future growth
Plastic, glass, paper, most packaging and substrate materials are deeply ingrained in modern society and play a critical role in our day-to-day lives. From food to transport, clothing to technology, leisure to healthcare and sport to culture, it is difficult to imagine a world without these materials. However, one cannot argue that we don’t have a waste and pollution problem in South Africa. Society has failed to account for the negative environmental and socio-economic impacts of our growing dependence on these materials and the pollution it causes. Until now, there have been voluntary initiatives led by industry to find solutions but the soc called expanded producer responsibility, or EPR, Regulations and associated sector schemes were published and came into force on 5 November 2021.
To find out what this new era means for producers Michael Avery is joined by Mamogala Musekene, DDG Chemicals & Waste Management at Department of Forestry, Fisheries & the Environment; Shabeer Jetham CEO of The Glass Recycling Company and Sally-Anne Käsner Director of Circular-Vision, a Circular Economy strategy and design consultancy
SA’s largest mobile operator Vodacom has added 6.2-million customers to its subscriber base during the six-months to end September. This helped lift group revenue by 4.2% to R49.9bn during the period. Alishia Seckam spoke to Vodacom CEO Shameel Joosub for more detail on this and his outlook for the business
Over the past financial year, Astral has had to deal with a number of headwinds, including rising feed costs, load shedding, avian flu outbreaks, municipal woes and the civil unrest that hit the country in July. These factors have weighed on the company’s bottom line with annual headline earnings per share falling by 15%. Alishia Seckam spoke to Astral CEO Chris Schutte to find out how the company plans to navigate the tough operating environment
The rand broke a two-day losing streak on Thursday as investors welcomed the medium term budget policy statement (MTBPS), staging a mild recovery after falling the most in more than eight months in the previous session. The JSE and local bonds were also heartened by the statement. Finance minister Enoch Godongwana outlined a better fiscal position in his maiden medium-term budget and said he would continue the fiscal consolidation outlined by his predecessor, Tito Mboweni, in an effort to reduce the budget deficit and stabilise SA’s high debt. Asian share prices advanced in early trade this morning as a shock from a surprisingly strong U.S. inflation reading ebbed, with investors now hopeful that the worst price hikes could be soon over
To put things into perspective Michael Avery is joined by Warwick Lucas, Chief Investment Officer at Galileo Asset managers; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
Finance minister Enoch Godongwana has tabled his first medium term budget saying that state-owned companies need 'tough love' and a decision on a basic income grant will be made in February. Alishia Seckam spoke to Treasury DG Dondo Mogajane for more detail on what the finance minister presented
South African investors are growing their exposure to the alternative investment space amid an increasingly uncertain environment. Business Day TV spoke to Dino Zuccollo from Westbrooke Alternative Asset Management for his view on the growth trend observed
Fashion retailer TFG has swung to an interim headline profit as it recovered from Covid-19 lockdown restrictions which forced it to close stores in all the territories it operates in. This weighed on the group's financial but now that the group has recovered, TFG has reinstated dividends and declared a half-year payout of 170c per share. Alishia Seckam spoke to TFG CEO Anthony Thunstrom
Welcome, you're watching Climate Conversations on Business Watch with Michael Avery, COP26 has arrived and we’re discussing whether we’re turning the tide on climate change brought to you by Investec.
In an effort to ensure the success of the COP26 climate crisis negotiations and achieve the goal of shifting away from coal, this week 40 countries and institutions signed a pledge to end coal financing – but South Africa was missing from the commitment And a draft of the COP26 climate summit deal, published at dawn yesterday, has fired the starting gun on fierce negotiations among countries to clinch a final agreement before the conference ends on Friday.
To get the latest on Cop 26 Michael Avery is joined by Olivia Rumble, director at Climate Legal and co-editor and co-author of Climate Change Law and Governance in South Africa; Tanya dos Santos, Global Head of Sustainability for Investec & Tracey Davies, director of Just Share
Remgro and Vodacom have entered into a deal that will see the two entities combine their fibre businesses in a move that will improve access to high-speed internet for SA’s lower income consumers. Business Day TV spoke to CIVH chairman Pieter Uys for more insight
SA’s largest mobile operator, Vodacom, has inked a deal to buy a 55% stake in Vodafone Egypt for $2.7bn as the transaction will give the group access to the country’s rapidly expanding ICT market. Business Day TV unpacked the detail of the deal with Vodacom CEO Shameel Joosub
Eskom CEO Andre de Ruyter says he will not resign of his own accord as he believes that the state utility needs leadership continuity. His comments come amid calls from the Black Business Council and the National Union of Mineworkers for De Ruyter’s resignation. Business Day TV spoke to De Ruyter for more detail
The context to Finance Minister Enoch Godongwana’s maiden medium term budget policy statement is fraught. His party recently bloodied at the polls after more than a decade of corruption and incapable governance has left the country teetering on the brink. There is no sense of hyperbole here. PRASA has been looted down to the railway tracks, the energy crisis grinds on without a solution yet decided upon for Eskom’s balance sheet crisis, which all started with ANC’s funding arm chancellor house. To his credit, Godongwana did question the involvement of Chancellor House at the time when deputy minister of Public Enterprises. Aging and poorly maintained water infrastructure is now starting to become the next binding constraint to growth. Following the pandemic we now have the world’s highest unemployment. The only two sectors that are really showing any signs of growth are still mired in policy uncertainty thanks to interminable debates about expropriation without compensation and the fact that minerals were in effect expropriated under the MPRDA, which has seen new exploration investment plunge off a cliff.
The time for pussyfooting is over. Let’s welcome our panel to preview this critical fiscal statement of intent: Annabel Bishop, Chief Economist at Investec Bank; Hugo Pienaar, Chief Economist at the Bureau of Economic Research & Lebogang Mulaisi, COSATU: Labour Market policy coordinator
Finance minister Enoch Godongwana is set to present his first medium-term budget on Thursday where he faces the challenge of presenting a strategy that will revive SA’s economy while keeping public finances in check. Business Day TV spoke to Siobhan Redford from RMB for her views on why could be presented in the medium-term budget
The Black Business Council (BBC) wants Eskom’s CEO, Andre de Ruyter and the state utility’s board to step down as load-shedding continues to leave SA in the dark. Alishia Seckam spoke to BBC CEO Kganki Matabane about the proposal
The growth in exchange traded funds (ETFs) was remarkable after their mass introduction in the early 2000s, and they continue to grow in number and popularity. The emergence of the investment vehicle has been great for investors, as new low-cost opportunities are now available for nearly every asset class in the market. However, investors now must also deal with sifting through more than 5,000 ETFs that are currently available globally, which can be a daunting task for the weekend investor. Asset allocation is one of the most important decisions that you make as an investor. Having the right mix of stocks, bonds, cash, and commodities in your portfolio, and being well diversified within each asset class, can have a profound impact of your returns. ETFs can be an easy way to gain this diversification. They can be cheap, flexible, and tax-efficient and may help you gain access to sectors and asset classes that would otherwise be closed off to individual investors. Often we think of ETFs as targeted at the retail investor but actually we are seeing professional asset managers and institutions utilising these building blocks to build portfolios for clients.
So to talk about how stockbrokers are using ETFs to build portfolios let’s welcome Struan Campbell, Portfolio Manager at PSG Umhlanga Stockbroking and a CFP so also provides that advice interface between managers and investors; Nicola McMurtry, Senior Portfolio Manager at Anchor Private Clients & Victor Mupunga, Research Analyst at Old Mutual Wealth
Diversified miner Exxaro plans to play an integral part in South Africa’s energy transition as it recently signed a deal with state-owned power utility Eskom and fellow coal miner Seriti Resources to jointly develop renewable energy projects. The company’s strategy shift comes at a time when the world is putting climate change high on its agenda particularly as the United Nations Climate Change Conference known as COP26 is underway. Alishia Seckam caught up with Exxaro CEO Mxolisi Mgojo for more detail on the miner’s plans and its response to the developments that are coming out of COP26
Construction and material group Raubex has reported solid first-half results with revenue jumping 52% to R5.99bn and operating profit rocketing to R435.2m as the firm recovered from the impact of Covid-19 lockdown measures in the prior period which brought activity to a standstill. The group’s financial rebound along with its positive outlook that it will continue to benefit from increased tender activity, prompted Raubex to almost doubled its interim dividend to 47c. Alishia Seckam spoke to Raubex CEO Rudolf Fourie for more detail.
With just a couple months left before a well-earned break for most, this year’s market action is still keeping investors anxious.
We’ve had the taper without the tantrum, the BoE surprise hold and more hot air than bold action out of Glasgow on Cop26.
The beginning of the end of cheap money was heralded as the moment emerging-market stocks would reverse a decade spent in the shadow of their developed-nation peers.
It’s turning out to be anything but.
After a three-week rally in October that briefly raised hopes of a comeback, the benchmark gauge for the group has sunk back, reaching a 20-year low relative to its main US counterpart.
That’s providing early evidence that while global markets are adjusting to the idea of less stimulus from central banks including the Federal Reserve, emerging markets are failing to get much traction.
Let’s find out what the animal spirits are telling us with Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
On 11 November, Minister of Finance Enoch Godongwana will table his maiden Medium Term Budget Policy Statement amid the country’s increasingly complex fiscal knots. This year’s MTBPS will centre around stabilising the local economy, given the continued negative impact of the COVID-19 pandemic and the July social unrest, in an attempt to bring SA’s debt down to sustainable levels. Given the revenue projections are set to exceed what was originally forecast by some margin the pressure to spend on items such as social grants and salaries from inside the ruling party will be immense. In markets, China dragged on Asian shares on Friday as they failed to latch on to a global record-setting rally after a week in which central banks around the world refrained from any hawkish surprises in a boost to the dollar.
To put things into perspective Michael Avery is joined by Warwick Lucas Chief Investment Officer at Galileo Asset Managers and Raymond Parsons, professor in the School of Business and Governance at Northwest University
Africa is expected to suffer disproportionately from the impacts of climate change, despite its low contribution to global greenhouse gas emissions. That is according to a Standard Bank report, titled, 'Africa must be at the heart of COP26'. Alishia Seckam spoke to Penny Byrne, Climate Research Analyst at Standard Bank who co-authored the report, about how African governments can leverage the meeting to position the continent's climate change agenda
Afrimat has delivered a solid half-year performance. The building materials and mining group has reported a 60.5% jump in headline earnings per share, due to a strong showing by all its divisions as well as higher iron-ore prices. Alishia Seckam unpacked the results with CFO, Pieter de Wit.
COP26 has arrived and we’re discussing whether we’re turning the tide on climate change brought to you by Investec
Obviously, the big news for us this week as been the announcement of the $8.5bn Just Energy Transition Partnership to help South Africa transition away from fossil fuels, stimulate green hydrogen and electric vehicle production. The two-day leaders' summit is now over and world leaders have jetted off to sunnier climes. But Cop26 is just getting started. Attention will now turn to the negotiations between delegations on finalising the Paris rulebook. It's not going to be easy. Six years on from Paris, issues like Article 6 (carbon markets) are unresolved for a reason.
To get the latest from Cop 26 Michael Avery is joined by Belynda Petrie, CEO and co-founder of OneWorld Sustainable Investments. She is also a former research associate at SAIIA, who is in Glasgow; Dr Brian Mantlana, impact area manager: Holistic Climate Change at the CSIR & Jarredine Morris, Energy and Environment Manager at Business Unity SA, also in Glasgow
The rand is trading at its weakest level against the dollar since mid-August as market participants wait for an announcement from the US Federal Reserve that could provide details for tapering its stimulus package. Business Day TV spoke to John Cairns from RMB for more insight
On-demand transport group Bolt plans to introduce a green taxi offering to the South African market in the next few months as it looks to make use of electric vehicles in its fleet. Alishia Seckam spoke to Bolt SA regional manager Gareth Taylor for more on the decisions particularly at a time when SA is facing power supply issues
Pharmacy group Dis-Chem has reinstated its interim dividend after the firm reported a 35% rise in first-half headline profit. The group says it achieved positive results, continued to take market share and deliver strong cash generation despite a tough economic environment. Alishia Seckam spoke to Dis-Chem CFO Rui Morais for more detail
With more than half of the votes counted, the outcome of the municipal elections has is shaping up, with the ANC projected to suffer losses across South Africa’s eight metropolitan municipalities. The metros differ substantially from the remaining 256 municipalities in terms of their sheer size, resources and economic activity. They are home to almost 40% of the population, generate roughly 56% of national GDP, and spend 59.3 per cent of local government revenues. In recognition of their unique needs, metropolitan areas are governed by integrated single-tier municipalities, while the rest of the country is governed by a two-tier system of local and district municipalities. The Independent Election Commission (IEC) has acknowledged the elections to have had the lowest voter turnout.
What does this local government election mean for business?
To find out let’s welcome our analysts: Richard Calland, associate professor in public law at the University of Cape Town and a founding partner of the Paternoster Group. Moeletsi Mbeki, political analyst and author most recently of Manifesto for Social Change, how to save SA
Renergen has completed drilling at a well called R2D2, with a flow rate of 187,000 standard cubic feet of gas per day. This marks of its more significant gas strikes at its Virginia Gas project. Alishia Seckam spoke to CEO, Stefano Marani for more detail
South Africa’s manufacturing sector is showing signs of strain. The Absa PMI lost further ground in October and declined to 53.6 from 54.7 previously, as the impact of load-shedding and the three-week strike in the steel and engineering sector weighed. Alishia Seckam spoke to Miyelani Maluleke, Senior Economist at Absa for his view of the print.
The moment has come: The Super Bowl of climate change, the Olympics of decarbonization, the Met Gala of nonbinding emission-reduction promises There are great expectations by governments, businesses, and civil society for the Glasgow Climate Conference, or COP 26, as it’s known in the jargon. US Secretary of State John Kerry has labelled it “the last best hope for the world”, words echoed by UK COP President Designate, Alok Sharma. Similar hyperbole is peppered liberally throughout the global media. There are good reasons to demand much of COP 26. Time is literally running out to avoid overshooting a temperature rise of 1.5˚C, the stronger of the two temperature targets enshrined in the Paris Agreement. Although the main aim of the Paris Agreement is to level out at “well below” 2 ˚C, a 2018 report from the Intergovernmental Panel on Climate Change (IPCC) established that the risks from climate change would be substantially reduced at the lower level. Even if they won’t say it in public, most serious climate-watchers privately admit that 1.5˚C is a lost cause without fantastical levels of carbon drawdown from the atmosphere using unproven technologies. But if 1.5˚C is to be kept “in reach”, – as Alok Sharma and the environmental community want, and the most climate vulnerable states need – then the emission cuts needed to achieve it must be declared in 2021, at COP 26. United Nations Development Programme (UNDP) is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. And recently released a clutch of reports to coincide with Cop 26 And to talk about these Michael Avery is joined by an environmentalist who currently serves as the administrator of the United Nations Development Programme and chairman of the United Nations Sustainable Development Group, Achim Steiner.
Asian shares and U.S. stock futures slipped in early trade this morning, as Amazon and Apple quarterly earnings bucked a recent strong trend and growth and inflation fears continued to weigh. Investors, particularly in bond and currency markets, are also worried about varied responses by central banks worldwide to rising inflation. At least Mineral resources & energy minister Gwede Mantashe announced 25 new renewable energy projects that will deliver wind and solar energy at record low prices for SA. So the question must be asked, if it’s cheap now, and it can be brought on stream much, much quicker than new coal, gas or nuclear, why don't we revisit the IRP and raise procurement allocations of RE urgently?
To put things into perspective Michael Avery is joined by Nesan Nair, senior portfolio manager at Sasfin; Raymond Parsons, professor in the School of Business and Governance at Northwest University and Isaah Mhlanga, Chief Economist at Alex Forbes
Environmental Social and Governance (ESG) investing is gaining in popularity with the industry growing from $3trn in 2010 to $17trn in 2019, according to Overberg Asset Management. Business Day TV spoke to COO and director at Overberg Asset Management, Carel la Cock to find out what’s driving this trend
Recruitment specialist Adcorp says the slow recovery in economic activity in South Africa and Australia has weighed on its business but the firm has still managed to improve its financials on a continuing operations basis with interim headline earnings per share more than doubling to 27.2c. Alishia Seckam spoke to Adcorp CEO John Wentzel for more detail
Interviews with top CEOs and leaders shaping today's news stories alongside all the latest news that is impacting the markets, business and investments around the world.
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With over 9 million online mentions of COP26 - that’s the UN Climate Change Conference taking place in Glasgow from 31 October to 12 November - already in circulation, you’d be forgiven for feeling a little lost in the hype.
We’ve cut through the hype to the real issues so far in this series with Minister Creecy about what the overall focus is for the South African government heading into this so called super COP. We’ve debated the race to net zero and whether the science is congruent with the promises and greenwashing, and the looming climate finance fight. And how this is shaping responsible investing.
Now with just a few days to go before the 26th Conference of the Parties kicks off we are previewing the all important Group of Twenty (G20) Leaders' Summit 2021, which will convene on Saturday and Sunday in Rome Italy. For 2021, the G20, under the Italian Presidency, will focus on three broad, interconnected pillars of action: People, Planet, Prosperity.
Michael Avery is joined by Olivia Rumble director of Climate Legal; Saliem Fakir Director of the African Climate Foundation & Chris Mitman, Head of Export Finance at Investec Bank
Famous Brands says its efforts to adapt to Covid-19 operating conditions have helped it return to profit during the group's half year to end August, but the restaurant group's recovery has been slowed by the impact of the civil unrest that took place in July. Alishia Seckam spoke to Famous Brands CEO Darren Hele for more detail on the firm's recovery prospects as the possibility of a Covid-19 fourth wave in SA looms large
The popularity of Exchange Traded Products (ETP) is growing with the sector as a whole expanding by just over 13% in the first nine months of this year, according to etfSA.co.za. Business Day TV spoke to etfSA.co.za MD Mike Brown for more detail
Business executive Sipho Pityana has decided to take the banking regulator to court, claiming that it acted unlawfully and this led to his appointment as Absa chair being blocked. Alishia Seckam unpacked the detail of the situation with Pityana.
It’s almost clichéd to say SA’s municipalities are poorly run. Virtually every Ratings Afrika and Auditor-General survey reminds us of this. The evidence is clear for all to see in the state of our pavements, roads, water and power outages, and signs in disrepair….which all paint a grim picture of local government’s deteriorating financial management. Releasing the report, titled "Not much to go around, yet not the right hands at the till”, the late Auditor General Kimi Makwetu revealed that Only 8% of municipalities received a clean audit, and on average they took 180 days to pay creditors. Irregular expenditure exceeded R32 billion – up from R24 billion in the previous year. On a national level, we may applaud the signs of tentative turnaround, but it is at municipal level that the battles will be fought. Against this backdrop one wonders what choice voters have to staunch the bleeding come the 1st of November?
To discuss this burning question Michael Avery is joined by Mike Schussler, independent economist at economists.co.za; Charl Kocks, a director of Ratings Afrika; John Dludlu, CEO of the Small Business Institute & Natasha Doren, Senior Consultant at Consulta
Sibanye-Stillwater has entered into a $1BN deal to acquire two Brazilian mines as part of the firm’s strategy to build a portfolio of metals critical to electric vehicles. Alishia Seckam spoke to Sibanye-Stillwater CEO Neal Froneman for more detail
Foreigners have more of an appetite for South African bonds than previously thought, according to new data from the JSE. The bourse says this shows that investors have confidence in government’s policies and have appetite for yields that that are among the highest in emerging markets. Business Day TV unpacked this in detail with Michelle Wohlberg from RMB
The National Empowerment Fund (NEF) has committed R722m to help support businesses that were affected by the unrest that gripped Gauteng and KwaZulu-Natal in July. Alishia Seckam spoke to NEF CEO Philisiwe Mthethwa for more detail
Halloween is around the corner and the bogeyman frightening global markets at the moment is inflation. With some likening what is happening now to the Great Inflation, which was the defining macroeconomic event of the second half of the twentieth century. Over the nearly two decades it lasted, the global monetary system established during World War II was abandoned, there were four economic recessions, two severe energy shortages, and the unprecedented peacetime implementation of wage and price controls. It was, according to one prominent economist, “the greatest failure of American macroeconomic policy in the postwar period”.
But that failure also brought a transformative change in macroeconomic theory and, ultimately, the rules that today guide the monetary policies of the Federal Reserve and other central banks around the world. So what is the outlook for inflation globally and in South Africa. Is it Temporary or Permanent and how might a misreading of the situation impact growth and development?
To discuss this Michael Avery is joined by Brian Kantor, head of the research institute at Investec Wealth & Investment & Kevin Lings, Stanlib Chief Economist are our guests for this discussion
Business Unity SA (Busa) plans to apply to the high court for a declaratory order on workplace vaccine mandates as a way to ensure that firms are on the right side of the law should they choose to require their staff to be vaccinated against Covid-19. The organisation believes this move will also help speed up South Africa’s vaccination rollout as demand for shots has waned. Alishia Seckam caught up with Busa CEO Cas Coovadia for more detail
Technology group Altron is upbeat about its prospects as it pursues a strategy that involves focusing on growth areas such as cloud, data analytics, internet of things, and security. Alishia Seckam spoke to the firm’s CEO Mteto Nyati for more detail on Altron’s prospects
We’ve seen some interesting deals in the local market that are pointing to the increased usage of distributed ledger technology in financial markets.
Late last year the JSE acquired Globacap, a UK fintech company whose unique distributed ledger technology allows digital registrar services to be reflected in real-time.
The JSE will collaborate with Globacap to establish a private placements platform to advance and digitise capital raising for infrastructure finance and SMEs.
The tokenization process marks a promising solution in converting rights to an asset into a unique digital representation - a token.
To talk about the increased use of block-chain and tokenisation as a strategy to promote access to capital Michael Avery is joined by Renergen CEO Stefano Marani; Earle Loxton, CEO of EasyCrypto and Charles Savage, CEO of the Purple Group
From a huge leak of documents showing how countries are trying to change a crucial scientific report on how to tackle climate change. The leak reveals Saudi Arabia, Japan and Australia are among countries asking the UN to play down the need to move rapidly away from fossil fuels. It also shows some wealthy nations are questioning paying more to poorer states to move to greener technologies. This ""lobbying"" raises questions for the COP26 climate summit in November. Especially in light of the concern raised by the Presidential Climate Commission in conditionalities attached to concessional funding following the meeting with the climate envoys recently.
To put things into perspective Michael Avery is joined by Nesan Nair, senior portfolio manager at Sasfin; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Richard Calland, associate professor in public law at the University of Cape Town and a founding partner of the Paternoster Group.
Omnia has agreed to sell its 90% stake in Umongo Petroleum for R1 billion. The chemicals, fertiliser and explosives group says the proceeds will be used to either peruse growth opportunities or return cash to shareholders. Alishia Seckam discussed the disposal with Omnia’s CEO Seelan Gobalsamy
Pharmacy group Clicks has delivered record adjusted operating profit for its 2021 year thanks to a stellar performance from its wholesale business, UPD which benefitted from increased demand from hospitals during SA’s second and third Covid-19 waves. Alishia Seckam spoke to CEO Vikesh Ramsunder for more detail
You're watching Climate Conversations on Business Watch, as we build up to COP26 to discuss whether we’re turning the tide on climate change brought to you by Investec.
So far we’ve spoken to Minister Creecy about what the overall focus is for the South African government heading into this so called super COP.
We’ve debated the race to net zero and whether the science is congruent with the promises and greenwashing, and the looming climate finance fight.
Now we turn our attention to how this is shaping responsible investing.
Michael Avery is joined by Barry Shamley, Portfolio manager, Investec Wealth & Investment SA; Andrew Gilder, Director of Climate Legal and Maxine Gray, Strategic development, Investec Wealth & Investment SA