BizNews Radio (OLD)
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
De Ruyter denies Sasol wrongdoing; Cosatu’s PIC plan for Eskom; Trillian's Gupta stash where-about; brave Saffer
* The incoming head of Eskom, Andre de Ruyter, has denied that he engaged in “questionable stock sales” months before resigning from Sasol to join Nampak as CEO in 2013. * Cosatu is proposing that more than half the debt of state-owned Eskom be put into a special purpose vehicle…
Eskom arrests over corruption; Bain manager turns; Rand shines, More land-reform details; Lesotho’s dagga plans
* Two senior ex-managers at Eskom and a number of other suspects have been arrested by the South African Police over allegations of fraud, corruption and money laundering at the Kusile power plant. * A former partner at Bain’s South African business said he will testify at the Zondo Commission…
Wondering how to offset Naspers/Prosus capital gain? Here's a bright idea....
The first interview we published with our business partner, 12J company Bright Light Solar, unpacked how smart structuring and focus translated into an effective 21% return for investors. In this follow up discussion with the company's founder, former hedge fund professional Kevin Shames, we explore how the 12J tax incentive…
O'Sullivan, with Koko's help, puts Trindade, Eskom accomplices behind bars
Over the past few months ace crime fighter Paul O'Sullivan has been dragged into court by a corrupt Portuguese tenderpreneur and his expensive lawyers who even tried to get the Forensics for Justice founder arrested. In the early hours of the morning, it was Trindade and his Eskom accomplices who…
NUM protest on Eskom CEO’s first day; drought blackout, MTN MoMo; Sasol surge; Cricket revival
* Unions are already warning the new Eskom CEO, Andre de Ruyter, that they will fight him at every turn starting on his first day. * Drought has plunged millions of Zimbabweans and Zambians into darkness as hydro-power dams dry up in the drought crippling the two countries. * Sasol…
SA steps in to fix Zim; palladium skyrockets, more to come; Sasol soars; Davos
* Former SA president Thabo Mbeki has stepped into the Zimbabwe crisis. He held talks with Zimbabwean President Emmerson Mnangagwa and opposition leader Nelson Chamisa to try and help end the nation’s political crisis, reports Bloomberg. * Palladium smashed through $2,000 an ounce to a record as the metal extended a powerful annual advance driven by…
UAE must extradite Guptas, demands SA; Public Protector misconduct; Trump impeachment
* South Africa will use a meeting in the United Arab Emirates this week to ramp up pressure on the country to sign an extradition agreement that could be used to extradite members of the Gupta family to face corruption-related allegations in Johannesburg. * Public Protector Busisiwe Mkhwebane has been…
President cancels Eskom leave to keep Xmas lights on; Palladium; Tesla v Porsche
* As South Africans speculate over whether and how saboteurs are to blame for widespread blackouts, President Cyril Ramaphosa has cancelled the leave of Eskom employees. * Palladium rose for a 15th day, heading for its longest run of gains on record and exceeding the highest-ever price of gold. *…
Edible bowl creator from Cape Town munching to rid the world of plastic
We are confronted daily with reports of how plastic is polluting the environment. Sea turtles are filmed with straws in their noses, a recent study into plastic pollution concluded that half a million hermit crabs have died that confused trash for shells and polar bears have been snapped fighting over plastic. It…
Eskom sabotaged! Ramaphosa apologises for power cuts, police called in; RMB warning on SA growth; UK election
* President Cyril Ramaphosa put the blame for widespread power cuts on sabotage when he cut short a visit to Egypt to handle the latest Eskom crisis. * "SA is rapidly becoming a forgotten country and has stopped being talked about as an investment destination,” James Formby, the chief executive…
Piet Viljoen joins Sam Houlie just in time for SA market like post-2001
In what he describes as a reflection of the changed asset management industry, Re:CM founder Piet Viljoen is merging his firm with Counterpoint, led by his former Allan Gray and Investec colleague Sam Houlie. The new firm will trade under the Counterpoint name and have R6.5bn in assets under management…
After Tongaat's shocking R12bn loss, critic Chris Logan is hopeful. Here's why.
Financial results published this morning by Tongaat Hulett are far worse than the company itself had projected when the bombshell first hit six months ago. The asset write-off is more than double the R4.5bn maximum that was anticipated and the financials released show a business that is hopelessly insolvent with…
Fallout from Eskom lights out; Palladium record; Manufacturing production falls; Changing spending habits; Comair CEO
• President Cyril Ramaphosa is cutting short a trip abroad to deal with the escalating crisis at Eskom while mining companies cut production and cel phone companies are struggling to cope. The Department of Mineral Resources and Energy Affairs is considering short-and medium term interventions to address the electricity shortage…
Smart investing: 12J and renewable tax incentives deliver effective 21%pa
It took a while for the market to warm up to the SA government's section 12J tax incentive designed to encourage private investment into the small business sector. But with private sector innovation now having sucked in billions, the State has decided to cap the maximum investment per taxpayer -…
Disrupting SA education: High school from home and get into Harvard, Stanford, Oxford
In early 2017, the Robert and Sam Paddock pocketed R1.8bn when selling their Cape-headquartered online education business Getsmarter.co.za to Nasdaq listed 2U. Getsmarter has relationships with the world's great universities, offering its global student base access to MIT, Harvard and Oxford degrees through online studies. Having served their obligatory earn-out…
Stage 6 loadshedding; Prasa follows SAA; Ramaphosa’s tough love; Zim can't pay SAA; Prosus and Just Eat
In today's business headlines: Eskom intensified rolling blackouts to a record stage 6, signalling a deepening crisis at the debt-ridden utility and raising the risk of a second recession in South Africa. The Passenger and Rail Agency has been put under administration and its interim board has been dissolved. This…
Insider on Eskom's loadshedding debacle: It goes far beyond "wet coal".
Former Eskom coal scientist turned energy consultant Mike Blenkinsop has as good a handle on the state of the SOE as anyone - and in this fascinating interview provides a comprehensive perspective on the latest loadshedding debacle. Having trained under the late Mark van der Riet, the CEO of NET…
Wet coal extends loadshedding; SAA’s bailouts can’t continue; Cricket SA loses sponsor; Teflon Musk
In today's business headlines: Stage 2 load shedding is set to continue this week, after Eskom has been battling to keep the lights on since the end of last week. South African Airways can’t keep counting on bailouts. That was according to Public Enterprises Minister Pravin Gordhan who told the…
Investec dons Santa’s hat: Cancels mortgage bonds on 3,600 properties in Gauteng townships
The Rupert Family handed out full freehold title deeds to 70 residents of Aberdeen in the Karoo in November this year and a further 326 title deeds have been sponsored in Stellenbosch by Johan Rupert and his wife Gaynor. It represents land reform, not enforced by government but out of…
SAA bankruptcy protection; Loadshedding strikes back; Trump's impeachment; Glencore and bribes
In today's business headlines: Glencore is being investigated for bribery by UK authorities, deepening the legal troubles that threaten the world’s biggest commodities trader. The company’s shares fell as much as 8.6% to a three-year low in London, while on the Johannesburg Stock Exchange the fall was more than 5%…