BizNews Radio

As President Cyril Ramaphosa’s new cabinet finds its feet, the question now is how it will navigate power-sharing dynamics after losing its parliamentary majority. Langelihle Malimela from S&P Global Risk told Biznews that he thinks President Ramaphosa is going to get “a lot of support” from opposition political parties for his economic policies. “It is an outcome,” he said, “that probably plays into Ramaphosa’s hands from a policy point of view.” However, Malimela warned that the Umkhonto we Sizwe party (MKP) of Jacob Zuma poses a risk to the new Government of National Unity (GNU). He pointed out that the slim majority in KwaZulu-Natal means any disruptions at the provincial level could have national repercussions. Malimela also does not rule out targeted acts of sabotage by the MKP, “intended to cause disruption, intended to send a message, put strangleholds on the economy, shutting down main arteries, disrupting port activity, even communications capabilities.”

Dramatic news flow at home and abroad had a significant impact on asset prices in the month just past as we hear from Corion Capital’s founder David Bacher. He explains why this was the kind of month that could make or break a money manager’s career. Bacher spoke to BizNews editor Alec Hogg

South Africa urgently needs ethical leadership to heal a divided nation. That has been the call from business icon Professor Bonang Mohale, who is on an international list of the 100 most reputable Africans. In this interview with BizNews, Professor Mohale warns the new Government of National Unity (GNU) that leadership is “not an opportunity for enriching self”. He slams the lack of prosecutions of corrupt politicians and concludes “that there is no political will” and that “maybe, just maybe, the people who call themselves our leaders are accepting that stealing, cheating, bribery, State Capture is their form and definition of redistribution of wealth”. Asked about the Steinhoff scandal, he also slams big business for introducing corruption to local politicians as far back as former President Nelson Mandela’s release from prison. And, as a former Chairman of Shell - that is now disinvesting from South Africa - he describes how there was “absolutely no progress” on a multi-billion rand intiatiave “because of ideology that held us hostage”. Setting out the priorities for the GNU, Professor Mohale says: “Service delivery is the job description of these politicians.”

As the country enters its new political era, Gareth Cliff’s authentic voice is deservedly attracting deserved recognition. A straight-talking media version of rabidly independent financial advisor Magnus Heystek, Cliff’s decade-old self-built canoe is steaming ahead, supporting the thesis that independent thought trumps commercially driven narratives. In this riveting interview, Cliff draws on his experiences and worldview to explain why SA is a pretty good place to be right now. He spoke to BizNews editor Alec Hogg.

Freshly returned from participating in annual Aspen Ideas Festival, Phumlani Majozi is delighted at how Election’24 and its aftermath has worked out. A prolific columnist, author and vlogger, the 35 year old from Stanger shares the story of his personal development and enthusiasm for promoting the contestation of ideas. He spoke to BizNews editor Alec Hogg

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In an engaging discussion, Bronwyn Nielsen and Paul Theron, CEO of Vestact, explore the latest trends in government policies and their impact on hot stocks. Theron provides keen insights into how regulatory changes and economic strategies are influencing market dynamics, highlighting key sectors poised for growth. With a focus on navigating the complexities of investing amidst shifting government landscapes, Theron shares expert advice on selecting stocks with the highest potential for short-term gains. This conversation offers a captivating blend of financial expertise and strategic foresight, making it a must-watch for investors keen on staying ahead in a rapidly evolving market.

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There are some big surprises and disappointments in the first Cabinet of South Africa’s new Government of National Unity (GNU). In this interview with BizNews, Ray Hartley of The Brenthurst Foundation looks at how well matched the new Cabinet is to deal with the country’s priorities over the next five years. He says it is “clearly not a proportional cabinet” - and it “does weaken things a little bit” and “makes it less difficult” for the Democratic Alliance (DA) should the day come when they have to leave”. He points out that it is “quite clear that the ANC is not letting go of the Economic Cluster”. And he is concerned that South Africa “may have an underperforming Cabinet” - and that the necessary reforms “may not occur swiftly enough to actually get to deal with these big logistical problems that are holding up economic growth”. However, he stresses that “it could have been a lot worse” - and that the outcome has shown that it is possible “to reach across some big divides in the interests of pragmatic progress”.

With South Africa at “boiling point” and running gun battles on the Cape Flats, negotiations for the country’s new Government of National Unity (GNU) took some dramatic turns this week as more parties (including the EFF and BOSA) entered into coalition talks with the ruling African National Congress (ANC) while the Democratic Alliance (DA) teetered on the brink of going back to the opposition benches. In this interview with BizNews, United Independent Movement (UIM) President Neil de Beer speaks about the DA’s fight for the economic cluster and the portfolios that are critical to the movement of the basic economy, lifestyle, and stability of the country. He describes President Cyril Ramaphosa re-emerging as the “the Cyril of the CODESA negotiations…and putting down his iron rod”. De Beer also dissects the East-West factions inside the GNU and warns of a looming foreign policy battle. Meanwhile, he reminds the current president that there are factions inside the ANC, the government, the police, the army, and the intelligence services that remain loyal to former President Jacob Zuma.

Accounts publicly available in in Ireland’s Companies Office show that since 2019, SA’s dominant domestic airline, Safair, has been 75% owned by European operator ASL Holdings - contravening South African regulations stipulating a 25% foreign limit. Cemair founder and CEO Miles van der Molen believes sine May last year its Irish parent has been subsidising Safair by some R100m a month. In this hard-hitting interview, Van der Molen says it’s no innocent oversight by Safair, which was taken to task on the same issue in 2014. After initially complying, records show the airline quietly injected the shares into an SA shell company owned by its Irish parent. He spoke to BizNews editor Alec Hogg.

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Stellenbosch University (SU) has signed a Memorandum of Understanding (MOU) with the Special Investigations Unit (SIU) of South Africa - the country’s anti-corruption unit - to find new approaches and strategies in the fight against corruption. South Africa ranks 83 out of 180 countries on Transparency International’s Corruption Perceptions Index (CPI) and has dropped two places since 2022. According to their survey 63% of people thought corruption increased in South Africa the previous 12 months, and 18% of public service users paid a bribe in 2023. Koogan Pillay, a board member at the Anti-Corruption Centre for Education and Research at Stellenbosch university said in an interview with Biznews that the agreement with the SIU will focus on training, research, community engagement, capacity building and exchange of information and expertise. Pillay, who has advised former Public Protector Thuli Madonsela, the Presidency, and civil society on corruption, attributed the rise in corruption to the ANC government's failure to implement the National Anti-Corruption Strategy. He expressed hope that a new Government of National Unity will make “a big difference” in the fight against corruption. Pillay is also working with former Justice Richard Goldstone and Lord Peter Hain on the establishment of an International Anti-Corruption Court