Business News Leaders

Soaring inflation in North Africa weighs on Ramadan celebrations

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…

20 Apr 2023 9AM 9 min

Musk's strategy for Twitter

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…

19 Apr 2023 1PM 11 min

Civil society heads to concourt over election law

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…

19 Apr 2023 9AM 8 min

March CPI ticks up on growing food prices

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…

19 Apr 2023 9AM 7 min

Capitec records a jump in earnings

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.

18 Apr 2023 1PM 8 min

Oil struggles to find direction

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.

18 Apr 2023 1PM 5 min

Assessing Africa’s AI landscape

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.

18 Apr 2023 10AM 8 min

Capitec reports 15% rise in profit

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…

18 Apr 2023 9AM 8 min

House price growth eases in March

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…

17 Apr 2023 1PM 7 min

Trade of the Week - DRD Gold | Gold Fields | Anglo Gold Ashanti | Harmony Gold

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.

17 Apr 2023 9AM 17 min

How Africa's factories are performing

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…

17 Apr 2023 8AM 7 min

Ramokgopa calls for revision of energy action plan

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…

17 Apr 2023 8AM 8 min

Why SA can't afford to backtrack on decarbonisation

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…

17 Apr 2023 8AM 8 min

Incoherent policy a risk to climate funding, warn environmental groups

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…

14 Apr 2023 10AM 8 min

South Africans, Kenyans and Nigerians pessimistic about growth – Deloitte

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.

14 Apr 2023 9AM 10 min

Investment into SA outpaces Ramaphosa’s R1.2trn target

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…

14 Apr 2023 9AM 9 min

PSG Konsult records a jump in earnings

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…

13 Apr 2023 1PM 8 min

Crypto chat - Softer US inflation gives crypto market a boost

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.

13 Apr 2023 12PM 6 min

Kenya’s economic headwinds

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…

13 Apr 2023 9AM 7 min

SA Post Office under provisional liquidation

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.

13 Apr 2023 9AM 7 min