Business News Leaders

Absa PMI ticks up in June

Factory owners experienced an uptick in activity in June, when the seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 46.2 index points from 45.4 in May. The average level for the second quarter was 46.3 points, however, below the level recorded in the first quarter of 2019. PMI indicators…

1 Jul 2019 2AM 6 min

Sars to crack down on non-compliance

The 2019 tax season has opened for eFilers and users of the SARS MobiApp with South Africa's deputy finance minister David Masondo making it clear that the country's economic recovery is dependent on an efficient tax agency. Business Day TV spoke to Sars commissioner Edward Kieswetter to discuss how the…

1 Jul 2019 2AM 7 min

Basil Read cuts staff in fight for survival

South Africa's construction sector is under immense pressure. This week alone, Group Five announced that it would slash its workforce by three thousand, while Basil Read is retrenching all staff not working on projects to cut costs. Mohau Mphomela, Executive director at Master Builders Association North sat down with Business…

28 Jun 2019 2AM 8 min

PPC delivers a solid first-half performance

PPC's delivered a solid first-half performance. And that's despite having to deal with a number of once-off costs and a challenging trading environment across the markets it operates in. Headline earnings per share for the period came in 33% higher, while revenue rose 1% with total cement volumes increasing by…

28 Jun 2019 2AM 7 min

All eyes on Trump-Xi trade war meeting at G20

U.S President Donald Trump and Chinese President Xi Jinping have landed in Japan for this year's G20 summit where all eyes will be on the leaders of the two countries as they meet to discuss trade issues. Jasper Lawler from the London Capital Group spoke to Business Day TV about…

27 Jun 2019 2AM 5 min

AfrAsia Bank forecasts solid wealth growth in SA over the next decade

A weak rand, as well as a significant decline by the JSE's All Share index weighed on South Africa's wealth market last year. According to a recent AfrAsia Bank report, total private wealth held by people living in the country declined by 10% to 649 billion dollars. Colin Grieve, Chief…

27 Jun 2019 2AM 7 min

How will SA's manufacturing sector fare in 2019?

South Africa's manufacturing sector has come under pressure with the industry contracting by 8.8% quarter-on-quarter in the first three months of the year but the sector has started the second quarter on a firm footing as output jumped 4.6% in April. Business Day TV sat down with Sappi's Southern African…

26 Jun 2019 2AM 5 min

Etion blames weak SA economy for poor performance

JSE-listed technology group Etion has slipped into the red. The company has reported an annual headline loss per share of 0.56 cents and has blamed the weak South African economy for the poor performance. Business Day TV sat down with Etion's CEO Teddy Daka to discuss the numbers in more…

25 Jun 2019 2AM 7 min

What to do about SA's unemployment crisis

Non-agricultural employment in South Africa improved by 0.8% year-on-year in the first quarter, with employers adding 76,000 staff to their payrolls.Sanlib's chief economist Kevin Lings however has noted that this improvement is modest relative to the growth in SA's labour force, which increased by roughly 600, 000 people over the…

25 Jun 2019 2AM 5 min

Acquisitions boost Invicta's full-year profit

Industrial equipment distributor Invicta has weathered what it calls "one of the toughest years on record". The company has reported a 5% increase in revenue driven by acquisitions but gross margins came under pressure as overhead costs increased. Business Day TV sat down with the company's CEO Arnold Goldstone to…

24 Jun 2019 2AM 7 min

Astral makes temporary costly plan to secure water

Poultry producer Astral Foods, which said in May that water-supply issues at its Standerton facility had already cost it at least R85m, says it has agreed to an "emergency" but costly arrangement with the local municipality that will allow it to operate as normal. Andy Crocker, MD of the company's…

24 Jun 2019 2AM 7 min

Afrimat Construction Index shows marginal annual improvement

Afrimat's Construction Index (ACI) for the first-quarter reflects the same disappointing trend evident in overall economic activity. However, Economist Dr Roelof Botha, who compiles the index on behalf of Afrimat, says it's encouraging to note that the first-quarter ACI had improved on a year-on-year basis, which was better than the…

21 Jun 2019 3AM 6 min

Capital raising in Africa dips due to fewer domestic listings

Capital raised by African issuers declined by 28% year-on-year to $341m in the first-half of 2019. The decline is attributed to the 80% drop in domestic capital raising in Africa - standing at only $85m from four Initial Public Offerings (IPOs). This is according to Baker McKenzie’s latest Cross-Border IPO…

21 Jun 2019 3AM 7 min

Peregrine writes down investment in Java Capital as deals dry up

Peregrine Holdings has written down the value of its investment in Java Capital by R100m as the corporate advisory house grapples with a slowdown in deal-flows in SA. Java Capital’s attributable earnings in the year to end-March fell 60% to R15m because of “significantly reduced deal-flow in both the general…

20 Jun 2019 3AM 8 min

Why Litecoin is the hottest cryptocurrency at the moment

While up until recently the buzz has been all about Bitcoin there's now a new kid on the block. Litecoin is up about 340% so far this year which gives it a market value of about $8.3bn. The digital currency has grown at a rate which is more than double…

19 Jun 2019 2AM 7 min

Inflation accelerates slightly in May

Inflation accelerated slightly to 4.5% in May. Measured by the annual change in the consumer price index (CPI), inflation accelerated from April’s 4.4% — but remained at the midpoint of the Reserve Bank’s 3%-6% target band. While petrol prices continued to rise in May by 54c/l, subdued food price growth…

19 Jun 2019 2AM 7 min

What to expect from #SONA2019

President Cyril Ramaphosa will deliver his state of the nation address (Sona) on Thursday against a downbeat economic backdrop where business, market participants and ratings agencies will be tuned in for details about the head of state's plan for Eskom and SAA. To preview what Ramaphosa is likely to present…

19 Jun 2019 2AM 8 min

Alexander Forbes annual earnings edge lower

Financial Services Group, Alexander Forbes' annual earnings edged 1% lower as the company's savings and retirement divisions missed expectations and while the group addresses this short coming, its forging ahead with plans to exit its insurance business as part of its revised turnaround strategy. Alexander Forbes CEO Dawie de Villiers…

18 Jun 2019 2AM 7 min

Multichoice swings to loss in first set of full-year results

Following its unbundling from Naspers, Multichoice has released its maiden results reporting a headline loss due to foreign exchange losses, as well as the firm's decision in March to give additional equity to black investors at no cost. Revenue ticked up 6% as subscribers numbers grew 12%. Multichoice CEO Calvo…

18 Jun 2019 2AM 7 min

What is the investment case for emerging markets?

According to Cannon Asset Managers the past decade has demonstrated that emerging markets offer economic growth, while developed markets offer earnings growth. Chief executive at Cannon Asset Managers Adrian Saville joined Business Day TV to unpack this in more detail.

14 Jun 2019 3AM 6 min