BizNews Radio

In today’s episode of NewsWrap, we tackle South Africa’s pivotal role in global and domestic issues. Deputy Minister of Trade, Industry and Competition Andrew Whitfield shares progress on trade ties with the US, while Old Mutual CEO Iain Williamson discusses the potential impact of South Africa’s upcoming G20 presidency. Protea Capital’s Jean Pierre Verster breaks down market volatility ahead of the US election; and MP Fadiel Adams - a member of Parliament's Portfolio Committee on Police - exposes shocking corruption allegations within SAPS leadership. Join us for insights into these critical developments shaping South Africa’s future.

In a recent interview with BizNews Briefing host and Nielsen Network CEO Bronwyn Nielsen, Iain Williamson - CEO of Old Mutual - shared an optimistic outlook on South Africa’s economic prospects, the upcoming launch of Old Mutual Bank, and the nation’s forthcoming G20 presidency. The conversation highlighted a noticeable momentum shift within the country, presenting signs of economic improvement and international recognition, while Old Mutual itself prepares for a groundbreaking new venture. This discussion provides a comprehensive look at Old Mutual’s insights on the country’s progress, its economic recovery, and a transformative future in banking.

A member of Parliament's Portfolio Committee on Police has laid charges against four top members of the South African Police Force. He is Fadiel Adams, who is also the Leader of the National Coloured Congress (NCC]. The officers include Crime Intelligence Head Major General Dumisani Khumalo. In this interview with BizNews, Adams details allegations against the top officers. He also reveals what he was told in Westville Prison by a former Task Force member who has been on remand for almost five years on a charge of defeating the ends of justice after he refused to carry out a political arrest. “The South African Police Services appears to be a mafia. It appears to be the biggest gang in the country,” Adams says. Meanwhile, he is in no doubt that he will face retaliation - and may even be killed - for taking action. “Now when I took this thing up, I was asked by a very good friend of mine, are you sure you want to do this? I said, why would you ask me this? I have to do this. He said to me, Boeta, you're not going up against the gang boss. A gang boss has two, 300 soldiers. These people have a hundred thousand. He said, SARS will be in your pockets tomorrow morning. Charges will be trumped up against you. Your name will be smeared in the media. I said, they need to do what they need to do because this is our police services, not his. If people are misusing secret state funds to buy cars, to establish political task teams, to have political opponents killed, to have good policemen locked up, then the rest of us need to speak up about it.”

In this BizNews Briefing, Bronwyn Nielsen is joined in studio by portfolio specialist Kerry-Ann Sattary, Old Mutual CEO Iain Williamson, and Protea Capital Management founder Jean-Pierre Verster to discuss the ripple effects of the US election on markets and economic policy. As Sattary breaks down potential election outcomes and Fed rate decisions, Williamson shares an optimistic outlook on South Africa's emerging economic environment, and Verster highlights strategic opportunities in both local and international markets. This episode dives into critical trends, from SA’s growth challenges to investment shifts in global markets.

Deputy Minister of Trade, Industry and Competition Andrew Whitfield emphasised the South African government’s efforts to support small businesses, strengthen US relations, and address unemployment through policy reforms. By focusing on infrastructure, market access, and responsive support, the DTIC aims to foster economic growth and create jobs amid the country’s challenging economic landscape.

The FW de Klerk Foundation has welcomed the awarding of the Nobel Peace Prize to Nihon Hidankyo, a grassroots movement of atomic bomb survivors. This movement has been honoured for using the testimony of the survivors of Hiroshima and Nagasaki to advocate against the use of nuclear weapons ever again. Christo van der Rheede, the Executive Director of the Foundation, highlighted in an interview with Biznews that South Africa has a proud legacy of promoting peace, with Presidents Nelson Mandela and FW de Klerk both receiving the Nobel Peace Prize for their roles in bringing peace to South Africa. Van der Rheede also noted that De Klerk took a significant step further by deciding to disarm South Africa, ensuring the country’s nuclear weapons were destroyed, making South Africa the first nation to take such action. He has called on President Cyril Ramaphosa to be consistent in his message: “Stand up and say enough is enough.” Van der Rheede argued that Ramaphosa cannot hold the Israelis accountable for events in the Middle East while remaining silent about the atrocities committed by Putin or Hamas. All those entities, he said, are out to destroy instead of engaging in dialogue, as Presidents Mandela and De Klerk had done.

In this edition of NewsWrap from BizNews, we delve into critical updates on the US elections and expose troubling political interference within the South African Police Service, alongside urgent insights into Johannesburg’s declining infrastructure. Former DA leader Mmusi Maimane critiques the DA-ANC coalition for missed reform opportunities, while UIM President Neil De Beer labels Deputy President Paul Mashatile’s land policy a distraction from corruption allegations. Finally, Pick n Pay CEO Sean Summers shares an optimistic outlook on the company’s strategic partnership with FNB. Tune in for all the highlights!

In a candid discussion on the BizNews Briefing podcast, Makone Maja of the Institute for Race Relations and Mmusi Maimane, leader of Build One South Africa, addressed South Africa’s political crisis. They discussed the fallout from ANC’s governance challenges, the Democratic Alliance’s controversial coalition, and the deteriorating state of Johannesburg and Tshwane.

In an interview with BizNews editor Alec Hogg on this morning's BizNews Briefing podcast, market expert David Shapiro discussed critical issues affecting the South African cement industry and the implications of the upcoming US presidential election. He expressed concerns about the cement industry's future amid a shift towards alternative materials and emphasized the need for government infrastructure investment. Shapiro also addressed the challenges facing Tongaat Hulett in business rescue and reflected on the potential impact of political stability with a new US leader.

Speaking to BizNews editor Alec Hogg on the BizNews Briefing podcast this morning, Pick n Pay CEO Sean Summers discussed the company’s strategic turnaround, highlighted by a new partnership with FNB’s eBucks program. Despite challenges, Summers is optimistic about the company’s future, aiming to reinvest in stores, leverage Boxer’s success, and foster a revitalised corporate culture focused on quality and customer loyalty.