BizNews Radio

This year is a significant one for South Africa as it gears up for the elections, and a key factor that has emerged is the ‘Zuma factor’. This follows the decision of former ANC president Jacob Zuma to support the newly formed Umkhonto we Sizwe party for the 2024 election, despite not resigning from the ANC. In an interview with Biznews, Prof Theo Venter, a political analyst at the University of Johannesburg, said that the ANC was taken by surprise by the formation of the MK Party and seems uncertain about how to respond. Venter believes that the new MK party, with Zuma as its figurehead, could impact the ANC’s support in Kwazulu-Natal, but doubts it will have a national influence. When asked if Zuma could emerge as the kingmaker in the upcoming election, Venter suggested that Zuma is more likely to play the role of a spoiler. As for the possibility of Zuma returning to the ANC and seeking forgiveness, Venter believes that the ANC is unlikely to forgive Zuma this time around. According to Venter, the most significant issue in the upcoming election will be load shedding, followed by the cost of living and inflation. He ranks the lack of service delivery by local governments as the third priority for voters. The informal economy, primarily run by foreigners, could also become a contentious issue in the election.

The dreams of thousands of students have been shattered by corruption in the higher education sector. Much of that has been exposed by the Organisation Undoing Tax Abuse (OUTA). In this interview with BizNews, OUTA's Investigations Manager, Rudie Heyneke speaks about the corruption reports it has issued since 2018; the “three brave souls” who triggered OUTA’s investigations; their sacrifices, victimisation, and persecution; the leaked voice recordings containing damning allegations about a patronage network implicating Minister Blade Nzimande, National Financial Aid Scheme (NSFAS) Board Chair Dr Ernest Khosa, and several others; their denials of wrongdoing - and the ultimatum from students to President Cyril Ramaphosa to fire the Minister or face “radical” protest. Heyneke also denies accusations that OUTA has become politicised, saying: “…there’s no way that OUTA will become involved in politics”. As for the ruling African National Congress (ANC) calling on members to pray for the party’s renewal, he says: “Nothing is getting better. The same promises were made last year on the 8th of January celebrations. So to pray for change and for service delivery and so on, I do support that. But we will see if that turns into positive action. And if it is prolonged positive action and not only just because there's elections later this year.” - Chris Steyn

The year ended badly for Julius Malema funder - and alleged cigarette smuggling kingpin - Adriano Mazzotti. His Carnilinx was among a group of tobacco manufacturers that failed in their urgent bid to interdict SARS against installing CCTV cameras at their warehouses. In his reaction, Tax Justice South Africa’s Yusuf Abramjee calls on the Fair Trade Independent Tobacco Association (FITA) to come clean on what they have to hide. He also speaks to BizNews about the modus operandi of the big crime syndicates; some of their tax avoidance tricks; the lack of law enforcement against the crime lords; the lifestyle of the kingpins; and Dubai as a hub of criminal operations - and a destination of choice for fugitives from the law. - Chris Steyn

In this interview with BizNews, investment strategist Magnus Heystek of Brenthurst Wealth Management speaks about: The poor performance of the Johannesburg Stock Exchange’s (JSE); how the African National Congress (ANC) government is scaring away foreign investment; the likely fall-out from South Africa taking Israel to the International Criminal Court (ICC) for “genocidal” acts in Gaza; possible developments in the lead-up to South Africa’s national general election later this year; the countries globally that have offered investors the best returns as well as those that could emerge as safe investments destinations; the Artificial Intelligence (AI) revolution; the performance of his clients’ portfolios; and the investment advice he gives his own children and grandchildren.

There is a buzz in Cape Town about the development of the new Cape Winelands Airport near Durbanville with the City Council throwing its weight behind the development. The site for the new Cape Winelands Airport t near Durbanville in the Cape has an interesting history as it was chosen and built by the Allied Forces during WWII. After it was required in 2020, the consortium of private owners set out to expand the airport to turn it into a transport hub and springboard for tourism in the region. According to an interview with Biznews, the Director of the Cape Winelands Airport Nick Ferguson said they were a step closer to reality with the first phase of the consultation process completed. The Airports Company of South Africa (ACSA) has objected to the development. The airport is set to launch its first flights in early 2027, ultimately offering a unique airport experience that includes wine tasting, a vineyard, and an outdoor amphitheatre. He also shared their strategy to initially position Winelands Airport as a cost-effective alternative destination for airlines who are currently burdened with carrying extra fuel when flying to Cape Town because their nearest diversion destination is O.R Tambo, located 2 hours north. This move not only promises financial benefits to airlines but also a significant reduction in carbon emissions. This strategic shift could potentially earn Winelands Airport the title of the World’s Greenest Airport.

Among many wise phrases attributed to Winston Churchill is one where he responded to a critic: “When the facts change, I change my mind. What do you do madam?” ANC veteran and iconic anti-corruption campaigner Mavuso Msimang may have drawn on that advice after being widely criticised for withdrawing a strongly worded resignation from the political party he served for six decades. To the rational mind, however, while fuss surrounding the issue tarnished a stellar reputation, it also jolted the ANC into concrete action on corruption after decades of lip service. Msimang spoke to BizNews editor Alec Hogg.

Nuclear physicist Dr Kelvin Kemm was so incensed with DA shadow minister Kevin Mileham’s “political propaganda” on BizNews TV last week, he insisted on setting the record straight. This the globally respected engineer does in forceful fashion in this interview where he addresses popular (mis)perceptions about nuclear power being corrupt, expensive and outdated. Kemm spoke to BizNews editor Alec Hogg.

"Tis the season to be jolly" as the Xmas song goes, but while we stock our fridges to the brim and buy mountains of gifts, there are children in the Eastern Cape of South Africa, who don’t have food. Corene Conradie, the Eastern Cape Coordinator of Gift of the Givers told Biznews that 80% of people in the Eastern Cape lived in poverty and below the breadline. Conradie said many of the families are child-led households with no parents. She said the child grant of R550 that families receive does not keep up with inflation and mothers said it was often only enough to buy two weeks of food. Despite this desperate need, the Eastern Cape Department of Social Development returned R67 million of the R100 million allocated to them by the central government in 2022. Conradie says it was an absolute failure to the poor in the province where a desperate mother in Butterworth murdered her starving children and took her own life. As has happened so many times during crises when the South African government has been slow to act, Gift of the Givers has stepped in with food trucks. Conradie says, “You can see the joy, dignity, and hope restored in the mother’s eyes.”

One of South Africa’s most successful cricketers, long-time Proteas captain Graeme Smith, has transformed into one of his sport’s leading businessmen. Smith is the League Commissioner of Betway SA20, whose second season kicks off on January 10, after a successful debut at the beginning of 2023. Smith is looking forward to significant growth in the coming season. The six SA franchises are owned by IPL giants, providing the commercial nouse and financial muscle to attract some of the world’s best players to the event. That’s after the first edition attracted the crowds back into cricket stadiums, generating R1.4 billion direct expenditure into South Africa, creating 8223 annualised employment opportunities and contributing R4.1bn to South Africa’s GDP. Smith shares the inside story of the most exciting development for SA cricket in decades with BizNews editor Alec Hogg.

In 2023, the South African Treasury responded to the outflow of private capital from the country with a regulation change just before the long weekend in May that some commentators labelled as ‘sneaky.’ This raised questions about what this means for South Africans wishing to move money out of the country. Graham Barratt from Sable International says that while there was a lot of confusion about exchange control rules, he believes that the change was not very meaningful. In this interview with Biznews he demystifies the implications of these changes and emphasises that exchange control, far from being abolished, remains a fixture in the country. He also discusses the timing of transferring money out of South Africa, suggesting that the uncertainty typically preceding an election has already been factored into the value of the rand. Barratt also outlines the necessary steps for those seeking to externalise their assets or transfer money abroad.