Episodit
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South Africa urgently needs ethical leadership to heal a divided nation. That has been the call from business icon Professor Bonang Mohale, who is on an international list of the 100 most reputable Africans. In this interview with BizNews, Professor Mohale warns the new Government of National Unity (GNU) that leadership is “not an opportunity for enriching self”. He slams the lack of prosecutions of corrupt politicians and concludes “that there is no political will” and that “maybe, just maybe, the people who call themselves our leaders are accepting that stealing, cheating, bribery, State Capture is their form and definition of redistribution of wealth”. Asked about the Steinhoff scandal, he also slams big business for introducing corruption to local politicians as far back as former President Nelson Mandela’s release from prison. And, as a former Chairman of Shell - that is now disinvesting from South Africa - he describes how there was “absolutely no progress” on a multi-billion rand intiatiave “because of ideology that held us hostage”. Setting out the priorities for the GNU, Professor Mohale says: “Service delivery is the job description of these politicians.”
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As the country enters its new political era, Gareth Cliff’s authentic voice is deservedly attracting deserved recognition. A straight-talking media version of rabidly independent financial advisor Magnus Heystek, Cliff’s decade-old self-built canoe is steaming ahead, supporting the thesis that independent thought trumps commercially driven narratives. In this riveting interview, Cliff draws on his experiences and worldview to explain why SA is a pretty good place to be right now. He spoke to BizNews editor Alec Hogg.
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Puuttuva jakso?
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Freshly returned from participating in annual Aspen Ideas Festival, Phumlani Majozi is delighted at how Election’24 and its aftermath has worked out. A prolific columnist, author and vlogger, the 35 year old from Stanger shares the story of his personal development and enthusiasm for promoting the contestation of ideas. He spoke to BizNews editor Alec Hogg
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In an engaging discussion, Bronwyn Nielsen and Paul Theron, CEO of Vestact, explore the latest trends in government policies and their impact on hot stocks. Theron provides keen insights into how regulatory changes and economic strategies are influencing market dynamics, highlighting key sectors poised for growth. With a focus on navigating the complexities of investing amidst shifting government landscapes, Theron shares expert advice on selecting stocks with the highest potential for short-term gains. This conversation offers a captivating blend of financial expertise and strategic foresight, making it a must-watch for investors keen on staying ahead in a rapidly evolving market.
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There are some big surprises and disappointments in the first Cabinet of South Africa’s new Government of National Unity (GNU). In this interview with BizNews, Ray Hartley of The Brenthurst Foundation looks at how well matched the new Cabinet is to deal with the country’s priorities over the next five years. He says it is “clearly not a proportional cabinet” - and it “does weaken things a little bit” and “makes it less difficult” for the Democratic Alliance (DA) should the day come when they have to leave”. He points out that it is “quite clear that the ANC is not letting go of the Economic Cluster”. And he is concerned that South Africa “may have an underperforming Cabinet” - and that the necessary reforms “may not occur swiftly enough to actually get to deal with these big logistical problems that are holding up economic growth”. However, he stresses that “it could have been a lot worse” - and that the outcome has shown that it is possible “to reach across some big divides in the interests of pragmatic progress”.
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With South Africa at “boiling point” and running gun battles on the Cape Flats, negotiations for the country’s new Government of National Unity (GNU) took some dramatic turns this week as more parties (including the EFF and BOSA) entered into coalition talks with the ruling African National Congress (ANC) while the Democratic Alliance (DA) teetered on the brink of going back to the opposition benches. In this interview with BizNews, United Independent Movement (UIM) President Neil de Beer speaks about the DA’s fight for the economic cluster and the portfolios that are critical to the movement of the basic economy, lifestyle, and stability of the country. He describes President Cyril Ramaphosa re-emerging as the “the Cyril of the CODESA negotiations…and putting down his iron rod”. De Beer also dissects the East-West factions inside the GNU and warns of a looming foreign policy battle. Meanwhile, he reminds the current president that there are factions inside the ANC, the government, the police, the army, and the intelligence services that remain loyal to former President Jacob Zuma.
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Accounts publicly available in in Ireland’s Companies Office show that since 2019, SA’s dominant domestic airline, Safair, has been 75% owned by European operator ASL Holdings - contravening South African regulations stipulating a 25% foreign limit. Cemair founder and CEO Miles van der Molen believes sine May last year its Irish parent has been subsidising Safair by some R100m a month. In this hard-hitting interview, Van der Molen says it’s no innocent oversight by Safair, which was taken to task on the same issue in 2014. After initially complying, records show the airline quietly injected the shares into an SA shell company owned by its Irish parent. He spoke to BizNews editor Alec Hogg.
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Stellenbosch University (SU) has signed a Memorandum of Understanding (MOU) with the Special Investigations Unit (SIU) of South Africa - the country’s anti-corruption unit - to find new approaches and strategies in the fight against corruption. South Africa ranks 83 out of 180 countries on Transparency International’s Corruption Perceptions Index (CPI) and has dropped two places since 2022. According to their survey 63% of people thought corruption increased in South Africa the previous 12 months, and 18% of public service users paid a bribe in 2023. Koogan Pillay, a board member at the Anti-Corruption Centre for Education and Research at Stellenbosch university said in an interview with Biznews that the agreement with the SIU will focus on training, research, community engagement, capacity building and exchange of information and expertise. Pillay, who has advised former Public Protector Thuli Madonsela, the Presidency, and civil society on corruption, attributed the rise in corruption to the ANC government's failure to implement the National Anti-Corruption Strategy. He expressed hope that a new Government of National Unity will make “a big difference” in the fight against corruption. Pillay is also working with former Justice Richard Goldstone and Lord Peter Hain on the establishment of an International Anti-Corruption Court
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In a dynamic interview with Bronwyn Nielsen, David Shapiro forecasts a potential strengthening of the rand, anticipating significant movements below 17.50. Emphasizing both local initiatives and global economic trends, Shapiro discusses promising sectors like weight loss pharmaceuticals, highlighting Novo Nordisk and Eli Lilly as key players. His insights into the bond market's resilience and the transformative potential of medical innovations underscore optimism amidst evolving market conditions, making this dialogue essential for investors navigating today's economic landscape."
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Allegations of institutionalised racism and abuse of younger students at the Wilgenhof residence of Stellenbosch University created a media storm. The university established a three-person panel headed by Adv NC de Jager to investigate. It recommended that the 121-year-old residence for around 200 students in the heart of the campus be closed at the end of the 2024 academic year. The University’s Council this week suspended the closure pending further investigation - a decision welcomed by Jaco Rabie of the Wilgenhof Alumni Association, which regards the panel’s report as “substantially flawed”. He explains why and provides context in this interview with BizNews editor Alec Hogg.
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In a mammoth exercise to determine how South African population groups voted in Election’24, leading polling company Victory Research overlaid SA’s 2022 Census with voter returns from the 23 296 Voting Districts. The results delivered some surprises about the racial diversity of leading political parties. Victory’s CEO, Gareth van Onselen, shared the findings with BizNews editor Alec Hogg.
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South Africa’s new Government of National Unity has grown to 10 parties - and more parties could still join. In this interview on the latest developments, United Independent Movement (UIM) President Neil de Beer says: “what is though going to murky the water and what will put more blood in the street is that now you have to accommodate it because the invitation was given as an open invitation and that invitation’s window is closing slowly but surely and I think the last cats are trying to get into this house before the thunder comes down”. De Beer looks at the impact this will have on the position of the Democratic Alliance (DA) in the GNU, and dissects the argument between Helen Zille and African National Congress (ANC) SG Fikile Mbablula over the interpretation of the agreement signed by the two parties. He warns that the stability of the GNU is under much pressure - and warns that unless President Cyril Ramaphosa announces his Cabinet within the next 48 to 72 hours, “the matters that are now boiling up, the threats, the innuendos is going to cause everlasting damage on the way of the Government of National Unity forward”. De Beer also gives his opinion on the racism scandals that have hit the DA with two of its new MPs, Renaldo Gouws - who has already been suspended - and Ian Cameron in the line of fire.
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The Government of National Unity (GNU) is likely to have been a “complete disappointment” for Russia. That is the opinion of SA-Russia expert Dr Irina Filatova who predicts that the Russians will now try to work with the part of the African National Congress (ANC) which is “radically inclined” towards former President Jacob Zuma. Professor Filatova believes Russia has funded Mr Zuma’s MK Party in the hope that his faction could be returned to the ANC, preferably heading it and getting rid of President Cyril Ramaphosa “because then the ANC would become the old ANC where Zuma could dictate the policy, and where Russia would have supreme influence”. Professor Filatova also explains where South Africa fits into Russian President Vladimir Putin’s latest vision for BRICS as “an independent organisation regulating international relations…based entirely on power”.
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South Africa will soon welcome its first amphibious ‘Waterfront Duck’ bus at the Victoria & Alfred Waterfront in Cape Town.The attraction is the brainchild of Keith Lindsay, who shared with Biznews the regulatory challenges he faced to get all his ‘ducks in a row.’ Inspired by a similar tour in Boston, Lindsay commissioned a custom-built boat from Windsor in the UK. The Waterfront Duck boat is not planning to brave the Cape waves, its tours will stick to the confines of the harbour wall and would focus on the history and marine ecology of the area. If all regulatory hurdles are overcome, the Waterfront Duck will take to the water in July. Should the launch go swimmingly, Lindsay hopes to add more boats to his growing fleet.
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Explore the fascinating world of poultry production with Marthinus Stander, CEO of Rainbow Chicken, alongside financial expert David Shapiro and seasoned interviewer Bronwyn Nielsen. Discover insights into industry challenges, innovation, and the path to success as Rainbow Chicken prepares for its listing on the JSE. Join this dynamic conversation to uncover the strategies driving affordable, quality chicken to consumers and the journey of growth and resilience in a competitive market.
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In 18 by-elections held yesterday, voters in KZN, Cape Town and Beaufort West, delivered a clear verdict on political developments of the past three weeks - giving fresh momentum to the DA and IFP; and a handing a thrashing to the MK, PA and EFF. The DA’s Ashor Sarupen, a member of Parliament and the party’s deputy campaign manager for Election’24 unpacked results with BizNews editor Alec Hogg.
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Veteran money manager Piet Viljoen of Merchant West has been bullish on SA assets for some months, primarily because he believes they had been too heavily discounted by a sceptical global investment community. Despite this relative optimism, he warned ahead of May 29 that were the post-election ANC to partner with the EFF “all bets are off”. In this discussion with BizNews editor Alec Hogg, the investment guru says despite a strong rally in the past few days, SA assets (the Rand, bonds, stocks) are still far too cheap - offering exceptional value right now, ahead of the coming wave of global interest.
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At BNC#2 in September 2021, DA Federal Chair Helen Zille predicted the ANC would lose its majority in 2024. At the time, most observers thought it was wishful thinking. But Zille was deadly serious, and her party has done a lot of work over the past three years preparing for SA’s new Government of National Unity, which brings the promise of a new bright chapter for the Young Democracy. Sealing the deal, however, was touch and go. In this fascinating interview where she unpacks where SA is now and what lies ahead, Zille shares that the GNU was a close-run thing, only helped over the line by unwitting EFF, which demanded a break to caucus ahead of the crucial first vote. She spoke to BizNews editor Alec Hogg.
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Veteran investment manager Kokkie Kooyman of Denker Capital explains why the Rand and share prices of SA financial companies have risen so strongly over the past few days: the election results and ANC’s choice of GNU partners has avoided “an 80% chance” of the country replicating a Zimbabwe-type disaster. He cautions that there is still a risk of “own goals” and malevolent political forces derailing the nation’s future. But Kooyman, the winner of many global investment management awards, reckons a more likely scenario is a second wave of asset price increases driven by large foreign capital flows as SA’s watershed is fully absorbed in the world’s financial capitals.
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In more post-election drama, former President Jacob Zuma is turning to the courts to try and have the election set aside because 9,366,000 votes are allegedly unaccounted for - and it wasn’t “fair and free”. But in this interview with BizNews, Dr. Michael Louis of the Independent Candidates Association says he has looked at the court papers, and that there are “no specialist audit reports, there's no specialist electoral support, just a lot of speculation”. He does not believe the application will succeed. Meanwhile, he is calling for the Electoral Act to be totally revitalised, also in respect of the way the President is elected because if President Cyril Ramaphosa is impeached, it could imperil the new Government of National Unity if the GNU doesn’t accept the new President nominated by the African National Congress (ANC). Dr Louis also shares his views on how the new Cabinet might look, and explains why he sees South Africa as a “speedboat” - and not an “oil tanker” - country.
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