Business News Leaders

Listen! Standard Bank delivers double-digit profit growth

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.

17 Aug 2023 12PM 8 min

Listen! SA's economy review

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…

17 Aug 2023 10AM 17 min

Mozambique post Cyclone Freddy

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…

17 Aug 2023 10AM 8 min

Gold Fields reports profit slump

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…

17 Aug 2023 9AM 8 min

Business Confidence stable but subdued

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,…

17 Aug 2023 9AM 10 min

The resilience of SA's economy

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.

16 Aug 2023 1PM 9 min

Rand swings above R19

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…

16 Aug 2023 1PM 3 min

Kenya, Mozambique & Zambia in focus

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.

16 Aug 2023 8AM 8 min

How SA is losing out on its own renewables boom

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…

16 Aug 2023 8AM 7 min

Coal miners under fire over occupational diseases

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,…

16 Aug 2023 8AM 9 min

Listen! Tackling SA's high unemployment rate

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…

15 Aug 2023 1PM 8 min

Listen! HomeChoice's earnings remain flat

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.

15 Aug 2023 12PM 8 min

Digital banking in Africa

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…

15 Aug 2023 8AM 6 min

Capitec warns of ripples from vat dispute with SARS

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…

15 Aug 2023 8AM 8 min

Unemployment rate down slightly in Q2

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.

15 Aug 2023 8AM 8 min

MTN delivers a 'solid' interim performance

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…

14 Aug 2023 12PM 7 min

Absa posts profit despite higher impairments

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…

14 Aug 2023 11AM 8 min

Trade of The Week - Woolworths | Richemont | Gold Fields | 14 Aug 2023

Founder of Herenya Capital, Petri Redelinghuys provided tech analysis on Woolworths, Richemont and Gold Fields.

14 Aug 2023 9AM 18 min

Bridging the education gap in Africa

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.

14 Aug 2023 9AM 7 min

Jacob Zuma granted a remission of sentence

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.

14 Aug 2023 9AM 6 min