BizNews Radio

The Multi-Party Charter (MPC), the Radical Economic Transformation (RET) factions and the African National Congress (ANC) are the three “slides” in the election show of 2024. That is according to Neil de Beer of the United Independent Movement (UIM) - a party in the Multi-Party Charter (MPC). In this interview with BizNews, he talks about the “earth-shattering bomb” the Independent Electoral Commission (IEC) has dropped on smaller parties, a move that could prevent them from fighting the election and force some out of the Multi-Party Charter (MPC) that is currently “scratching” the 40% mark. He describes how growing support for the Radical Economic Transformation (RET) factions could collectively gain 35% of the vote. He floats some interesting coalition scenarios. But he warns that the ruling African National Congress (ANC) will not surrender easily: He says the fight is already “dirty” and “deals are being made, meetings are currently being held in the most unobtrusive smaller coffee shops in this country”.

André Pienaar is a venture capitalist, CEO, and founder of C5 Capital, a firm with a diverse portfolio spanning the cybersecurity, space, and nuclear power industries. He is also one of the co-founders of the Scorpions, which, according to Pienaar, was one of the most successful law enforcement units. However, it was dismantled by former President Jacob Zuma after the Scorpions started investigating Zuma and the Commissioner of Police, Jackie Selebi, for corruption. Pienaar was accused by Zuma of being a CIA spy, a claim that Pienaar says in an interview with Biznews, “placed a marker on me and my family as a form of intimidation.” Now, 15 years after the disbanding of the Scorpions, Pienaar has decided to fight back. He shares some details of the events in a recent article in National Security News and is planning to reveal more in an upcoming book scheduled for publication in August titled: “Mandela’s Untouchables – The Scorpions and the Fight for Justice in South Africa.” Pienaar alleges that Zuma has ‘Russian masters’ and that the uMkhonto weSizwe (ML) party is a proxy of the GRU, Russia’s Military Intelligence Service. He describes it as one of the most dangerous and predatory intelligence organisations in the world that “will undoubtedly try to interfere in the South African elections.” Pienaar also accuses President Cyril Ramaphosa of having done an “unlawful” deal with Russian President Vladimir Putin during the Russia Africa summit in St Petersburg in 2023 to keep Zuma out of prison. Regarding the potential reinstatement of the Scorpions, Pienaar remarked that it was possible. However, it would take great political will to fight organised crime in the country. The process should be started, he says, by giving Zuma his day in court and by sending him back to prison to complete his sentence for contempt of court after failing to appear before the Zondo Commission into corruption.

Having worked his way from a ‘Bobbie on the Beat’ to a SAPS General when it meant something, former KZN Hawks boss Johan Booysen has lived an adventure. With challenges including mass media vilification through a bizarre stitch-up engineered by criminals (and their captured politicians) through to being wrongly arrested and jailed. This authentic South African hero has paid a high price for following his calling. He retraces some of those footsteps here, sharing deeper insights on Eskom, ANC cadre deployment and other matters of the moment. He spoke to BizNews editor Alec Hogg.

After three years of consultations, The United South Africa Movement (TUSAM) has launched the South African People's Charter and the Charter of Citizens' Obligations. In this interview with BizNews, TUSAM’s Solly Moeng says “this system is built to protect the ANC (African National Congress)”, and that it has to change “because these institutions that we built at the dawn of our democracy, with everybody thinking that they will stand between us and hell, have shown to be weakened, to be repurposed, to serve the interests of politicians who are criminals. We need to create buffers.” He also calls on citizens to inform themselves because “people still get taken for granted by political entrepreneurs on the basis of their poverty and on the basis of their lack of knowledge”. TUSAM - a non-partisan civic movement - will endorse only those political parties that pledge support for the People’s Charter.

The beleaguered Road Accident Fund (RAF) is losing an estimated R3 billion a year to opportunistic loss of income claims from people who suffered only minor injuries in a motor vehicle accident. In this interview with BizNews, actuary and damages expert Gregory Whittaker shares his research for the Actuarial Society of South Africa (ASSA). He says statistics for the financial year ending 31 March 2021 show that loss of income settlements totalled R18.4 billion - of which about 14% was paid to those with non-serious injuries - while in the financial year ending 31 March 2023, the RAF paid R22 billion in loss of income claims. Whittaker lists his recommendations to prevent such excessive compensation - and thus also address the worsening financial situation of the RAF where the deficit had grown, by the end of March 2022, to R344.8 billion from R3.8 billion at the end of the 1994 financial year.

Mimecast, a company started by two South Africans is a global leader in cybersecurity specialising in advanced email and collaboration security. After trading on Nasdaq for six years, the company decided to go private in November 2015 in a $5.8 billion deal with Permira. In an interview with Biznews, co-founder and former CEO Peter Bauer shared his journey from being a school leaver who opted not to attend university to starting his first business with 'oceans behind the ears’. Bauer explained how he was “hell-bent on getting into tech” in the early 90s. He recounted how his first company, which he sold to Idion, built the first news factory for what later became News24.

After the sale, Bauer moved to London where he met fellow South African techie Neil Murray and started Mimecast. According to Bauer, “he fell in love with the process of building a company.” Discussing his decision to step down as Mimecast’s CEO, Bauer emphasised that it was the right time to hand over the reins, with the appointed CEO, Mark van Zadelhoff, being the ideal candidate. However, Bauer remains engaged by staying on the board. He also revealed his shift from technology to eco and social justice projects, expressing a desire to support entrepreneurs. Bayer shared that he bought a mountain in Cape Town “by accident.” Additionally, he offered valuable insights for new tech entrepreneurs and discussed the increasing challenges that generative AI will have in predominantly digital workplaces

The beleaguered Road Accident Fund (RAF) is losing an estimated R3 billion a year to opportunistic loss of income claims from people who suffered only minor injuries in a motor vehicle accident. In this interview with BizNews, actuary and damages expert Gregory Whittaker shares his research for the Actuarial Society of South Africa (ASSA). He says statistics for the financial year ending 31 March 2021 show that loss of income settlements totalled R18.4 billion - of which about 14% was paid to those with non-serious injuries - while in the financial year ending 31 March 2023, the RAF paid R22 billion in loss of income claims. Whittaker lists his recommendations to prevent such excessive compensation - and thus also address the worsening financial situation of the RAF where the deficit had grown, by the end of March 2022, to R344.8 billion from R3.8 billion at the end of the 1994 financial year.

Innovative international index fund company Ginsblobal’s South African founder made a very public and as it happens, accurate call back in November 2022. In this interview, we revisit Anthony Ginsberg’s view that the tech wreck was overdone - plus he shares thoughts on what lies ahead for tech stocks, including BizNews model portfolio favourites Nvidia, Palantir and Cloudflare. He spoke to BizNews editor Alec Hogg.

One of the biggest enhanced income funds - the MI-Plan Enhanced Income Fund - has ringfenced about R800 million in assets.  In this interview with BizNews, investment strategist Magnus Heystek explains why this portion of the R12-billion fund has been side-pocketed for further investigation - after a challenge with an investment directly linked to the taxi industry.  He points out that the downturn in the economy, high interest rates, and high unemployment, have left many of the taxi operators unable or unwilling to repay their loans. Heystek gives his take on whether the money is actually lost and how long it could take to be recovered.

Universities globally, like Harvard, are significantly funded by their alumni, with Harvard’s endowment reaching over $50 billion in 2022 due to philanthropy. In South Africa, however, universities face financial challenges due to substantial government spending cuts and tuition fee increase restrictions. This has led the University of Pretoria (TUKS) to diversify its income streams through a financial sustainability plan. Rikus Delport, the Director of Institutional Development, revealed to Biznews that UP is learning from the success of US universities in garnering financial contributions from alumni. Consequently, UP is establishing overseas foundations to encourage TUKS alumni to contribute financially. The first foundation was set up in the US, followed by one in the UK, with plans to expand further. Delport explained that the funds raised would support the ‘missing middle’ - individuals ineligible for state grants and whose parents, such as nurses, policemen, or teachers, cannot afford university tuition. He also commented on the ongoing turmoil at UP, stating that universities often mirror broader societal issues and face challenging times. Delport highlighted the high demand for admission at UP, with 60,000 applications received from first-year students this year, but only 8,500 could be accommodated. Internationally, TUKS researchers are known for their heavyweight contributions to veterinary science. One of the milestones in veterinary healthcare was the first-ever successful CT scan of a live adult rhino for a tooth root abscess that was treated successfully. The faculty also hit the international headlines when it scanned a 210 kg gorilla.