Business News Leaders

SA's youth unemployment rate at 56.4%

The second quarter unemployment rate has skyrocketed to levels last seen during the 2008/9 financial crisis. The unemployment rate sits at 29% while the expanded definition, that's inclusive of discouraged job seekers sits at an all-time high of 38.5% while the unemployment rate among the youth is even higher at…

30 Jul 2019 2AM 8 min

Nicky Newton-King to retire as JSE CEO

The JSE says its first half has been challenging but not a reflection of the fundamental strength of the business - the group's revenue fell by 8%, operating costs climbed by 11% while headline earnings per share took at 29% knock. Having announced her retirement, Nicky Newton-King, talks to Business…

30 Jul 2019 2AM 5 min

Advisory panel on land reform recommends expropriation without compensation in certain circumstances only

Land reform cannot be postponed any longer this according to President Ramaphosa's advisory panel on land reform and agriculture. The panel was appointed in September last year and has released its final report looking into who should benefit, what land can be expropriated and when expropriation with or without compensation…

29 Jul 2019 2AM 8 min

Momentum buys Alex Forbes' short-term insurance unit

Momentum Metropolitan is set to acquire Alexander Forbes' short-term insurance business. And that's for a price-tag around 1.94 billion rand. Risto Ketola, CFO of Momentum Metropolitan Holdings joins us now to discuss the transaction, and what it means for Momentum Metropolitan going forward…

26 Jul 2019 3AM 7 min

AB InBev beats expectations as beer sales growth hits five-year high

​The world's largest brewer, AB In bev has beat second quarter earnings expectations, delivering a near 10% rise in EBITDA. This was boosted by beer sales gowth - which grew at their fastest pace in over five years, helped by increases in Latin America, Europe and Africa. Liberum's Nico von…

25 Jul 2019 2AM 5 min

Eskom bailout credit negative for SA, says Moody's

A second multi-billion bailout in under half a year to keep Eskom afloat doesn't sit well in Moody's books. The ratings agency sees the planned R59 billion cash injection as an additional drain on the fiscus and as such, views it as credit negative. For now, Moody's has the country's…

25 Jul 2019 2AM 6 min

Ramaphosa signs long-delayed health blueprint

After a long delay, President Ramaphosa has finally signed the blue print for fixing the country's healthcare system via a Health Compact. The World Health Organisation has had a hand in developing the compact and is confident that its goals will be reached. Alex van den Heever from the Wits…

25 Jul 2019 2AM 7 min

Inflation steady at 4.5% in June, bolstering hopes for rate cuts

Inflation has remained unchanged at 4.5% in June. That's within the SARB's target range of 3-6%. And while some see this as a bolstering case for further rate cuts, Reserve Bank Governor, Lesetja Kganyago has reiterated that there are no quick fixes for this economy, adding that aggressive interest rate…

24 Jul 2019 6AM 6 min

What does Boris Johnson's appointment as the UK's new prime minister mean for SA?

A meeting at Buckingham Palace has sealed the deal - Boris Johnson is the UK's new Prime Minister. The freshly minted leader is said to take a unifying approach to government which looks beyond Brexit - by bringing a new "can do" spirit to the country. Former UK Member of…

24 Jul 2019 2AM 7 min

AECI posts lower profits despite higher revenue

Chemicals and explosives group, AECI realesed its interim results on Wednesday, delivering a 14% rise in revenue. This was underpinned by contributions for the full period from the acquisitions finalised in 2018. However costly restructuring projects in its mining and water divisions have weighed on its earnings, resulting in a…

24 Jul 2019 2AM 5 min

Kumba reports earnings surge on higher iron ore prices

Kumba Iron Ore has benefitted from favourable market conditions during the first half of the year - a 57% rise in iron ore prices and a weaker rand has seen the company's earnings more than triple during the period while the interim dividend has more than doubled. Business Day TV…

23 Jul 2019 2AM 8 min

Eskom to get extra R59bn from government

Finance Minister Tito Mboweni has confirmed an additional R59 billion lifeline for ailing power utility Eskom and that's on top of the R69 billion announced in February's budget. The money will come from the National Revenue Fund and is meant to assist Eskom in meeting its financial obligations during the…

23 Jul 2019 2AM 6 min

Ramaphosa seeks judicial review of public protector's Bosasa report

President Ramaphosa has labelled the Public Protector's Bosasa report fundamentally flawed and has applied to have it placed under urgent court review. The report finds that the president intentionally misled parliament about a half a million rand donation to his election campaign from Bosasa, an organisation with links to State…

22 Jul 2019 2AM 7 min

Amplats report surge in first-half profit but warns Amcu now is not the time to 'get carried away'

Anglo American Platinum has declared a chunky dividend of R11 per share. That's thanks to headline earnings more than doubling to 7.4 billion rand as the miner benefited from higher metals prices.But, Amplats has warned the Association of Mineworkers and Construction Union that it musn't get too excited by this…

22 Jul 2019 2AM 8 min

Gautrain to spend R2bn on expansion plans

The Gautrain Management Agency is planning to spend up to R2 billion to acquire second hand additional rolling stock from the UK. This is an attempt to deal with the capacity constraints on the high-speed train network. Joining Business Day TV on the line to discuss the expansion plans in…

19 Jul 2019 2AM 6 min

PepsiCo offers to buy Pioneer Foods for R23.5bn

In a vote of confidence about South Africa's long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth over R25 billion. Meanwhile Zeder Investments which has a near 30% stake in…

19 Jul 2019 2AM 6 min

Sarb announces first rate cut in over a year

Reserve Bank Governor, Lesetja Kganyago announced the first interest rate cut in over a year - a unanimous decision to cut by 25 basis points. A panel of experts joined Business Day TV to unpack the thinking that may have gone into that decision, Tertia Jacobs, Treasury Economist at Investec,…

18 Jul 2019 2AM 8 min

Has Jacob Zuma's testimony further damaged his reputation?

The Zondo Commission of Inquiry into State Capture is set to resume tomorrow but according to former president Jacob Zuma's legal counsel, he will only continue his testimony if the commission sticks to the rules. Former MP, Ben Turok talks to Business Day TV about Zuma's testimony and says that…

18 Jul 2019 2AM 7 min

Sarb cuts rates to stimulate growth

Well as expected the Sarb has cut rates for the first time in over a year. The MPC cut rates by 25 basis points to 6.5%, citing weak economic growth and inflation which has stayed around the midpoint of its target range. Business Day TV caught up with Peter Attard…

18 Jul 2019 2AM 5 min

Ford to employ 1,200 more workers on Ranger bakkie demand

Good news on the jobs front with an increased demand for the new Ranger and Ranger Raptor, Ford South Africa will be hiring an additional 1200 workers to push production. The American-owned motor company has invested over R11 billion in South Africa since 2009. Neale Hill, MD of Ford Southern…

17 Jul 2019 2AM 7 min