BizNews Radio

The 2024 BRICS Summit is being held in Russia. In this interview with BizNews, foreign policy analyst Sanusha Naidu of the Institute for Global Dialogue says with about 38 countries invited, 32 of which confirmed attendance and 24 sending Heads of State, “this is really a moment in the sun for Russia to say we still have traction”. She looks at what South Africa and Africa could hope to gain from its fellow members. Naidu also discusses the big talking point of trade in local currencies, and says she doesn't think BRICS wants to create a third currency, but would instead like to strengthen and instrumentalise the frameworks as well as the rolling out of piloting projects around the use of localised currency. She does not expect any major expansion moves at this summit because of the implication of permanent members having to start sharing their power base which then challenges who is actually the ultimate decision maker in BRICS. Instead it might rather focus on “partnership” countries. Naidu further analyses the extent to which the BRICS countries are already challenging the US-led World Order.

In this morning's episode of the BizNews Briefing podcast with Alec Hogg, Steven Hurwitz of 36One Asset Management weighs in on Naspers' new CEO Fabricio Bloisi’s 100-day statement. While AI-driven innovations and improved profitability are promising, Hurwitz emphasizes that Naspers' performance remains heavily dependent on its largest asset, Tencent.

Speaking to Alec Hogg on the BizNews Briefing podcast this morning, Peter Armitage from Anchor Capital discussed the banking sector's recovery amid changing interest rates, highlighting improved investor confidence and economic stability in South Africa. While banking shares are up significantly, Armitage cautioned against complacency, emphasizing the delicate balance between optimism and potential market corrections. His insights also touched on the cautious movement of international investors and the challenges facing major companies like Naspers and Tencent.

This morning’s BizNews Briefing features insights from top financial minds Peter Armitage, Steven Hurwitz, and Peter Major. Key topics include comments on Naspers CEO Fabricio Bloisi, contrasting opinions from Fed officials on rate cuts, Disney’s new leadership strategy, and growing confidence in South African markets amidst economic improvements like declining interest rates, increased foreign bond investments, and reduced load shedding.

In this interview, stockbroker David Shapiro reflects on his recent trip to the U.S., discussing the country's strong economic performance, despite political tensions and the upcoming elections. He emphasizes the importance of the U.S. economy, especially for South Africa, highlighting its dynamic nature and the dominance of tech giants like ASML. Shapiro also discusses the impact of AI on the market, expressing confidence in long-term investments despite short-term setbacks. Shifting to South Africa, he advocates for investing in small and mid-cap companies, noting the potential for growth in well-run businesses, despite liquidity challenges and broader economic struggles.

In this episode of NewsWrap, Frans Cronje unpacks South Africa’s shifting geopolitical allegiances; retired Colonel Chris Wyatt discusses Elon Musk, his relationship with Donald Trump and the Republican campaign; Montegray Capital CEO Michael Jordaan shares insights on what it will take for the newly formed Government of National Unity to grow SA’s economy; and Neil de Beer sheds light on the latest developments regarding President Cyril Ramaphosa’s Phala Phala scandal.

In an insightful interview, Neil Emerick from the Free Market Foundation discusses South Africa's rise in the Freedom Index, moving from 85th to 81st place. He emphasizes the importance of economic freedom for growth and quality of life, comparing South Africa's ranking with its BRICS counterparts. Emerick also addresses the complexities of international trade, climate change, and the challenges Africa faces in achieving economic development amid global pressures.

In this wide-ranging preview of the US Presidential Elections, the former Director of African Studies at the US Army War College, retired Colonel Chris Wyatt dissects the latest polls; speaks about South African-born billionaire Elon Musk’s backing for former President Donald Trump; the implications for South Africa and AGOA should he return to the White House; the international implications of such a victory, particularly on the energy market and commodity prices - and why the Epstein client list and the P Diddy party invitee list may not be disclosed under either - or any - presidency. Colonel Wyatt also previews the upcoming election in Botswana where he says corruption has started creeping in - and where Former President Ian Khama has returned from exile to try and unseat his bitter foe - and former ally - President Mokweetsi Masisi.

Piet le Roux, CEO of Sakeliga, is pressing Agriculture Minister John Steenhuisen to withdraw Agri-BEE regulations affecting agricultural imports and exports. Leroux argues that applying BEE criteria in trade agreements penalises non-BEE farmers and violates international agreements, urging clarity from the government on its stance.

In this episode of the BizNews Briefing host Alec Hogg has three live studio guests - and a host of inserts from other knowledgeable observers. Subjects covered in this hour of power range from Tesla, Elon Musk's politics and finan cial African oil and gas projects through to A GNU challenge over BEE in agriculture and good news for the SA economy from Ray Dalio and the Freedom Index.