BizNews Radio

The past week’s announcements on Russian wins for the Mossgas plant refurbishment and a proposed 2 500MW nuclear plant follow the template applied by the ANC in the disastrous Kusile and Medupi contracts, where tender documents were massaged to favour Luthuli House’s preferred partner. In this episode of UNDICTATED, shadow minerals and energy minister Kevin Mileham shares background to these latest deals, and what the DA is doing to ensure there is no repeat of the Eskom plant debacle. He spoke to BizNews editor Alec Hogg.

At the end of 2022, the world was introduced to ChatGPT, which has been a watershed moment for artificial intelligence as it enables millions of regular users to experiment with AI. In just a year, it has changed so much of how we work and search for information on the internet. So, what will 2024 and beyond hold in store for us? In this interview with Biznews, futurist Pieter Geldenhuys, the Director at the Institute for Technology and Innovation, dives into several technological developments that are shaping our world including robo air taxis, moon mining for helium-3 as an alternative energy source, post-quantum computing, smart glasses, and the hu.ma.ne smart pin. Underlining these technology developments, he says, are currents that are shaping our world which includes a demographic decline in the northern hemisphere that will lead to a severe drop in consumption. By 3035, he says, “a reality might be that a company would be proud to announce our revenue only fell by 3% while our competitors fell by 8%.” Peak consumption will have a severe impact on Africa with its growing population but the light at the end of the tunnel for Africa, he says, is for the continent to embrace new types of technology, but that “does mean that the mindset of technology adoption will have to change significantly."

The South African Police Service (SAPS) National Commissioner Sehlahle Fannie Masemola and Eastern Cape Commissioner Nomthetheleli Lillian Mene may have to talk their way out of jail tomorrow (Thursday 14 December). In what could be a landmark case, they have been summonsed to appear in court to explain the failure to implement a ruling handed down last year to prevent violence and intimidation against long-distance coach passengers. In this interview with BizNews, Intercape Executive Chairman Johann Ferreira explains why the legal route has been resorted to: “ apart from just talking about it and moaning about it and threatening about it, we decided to embark upon a strategy to prove, not only to ourselves but to South Africa, whether South Africa is a failed state, whether the Eastern Cape is a failed state - and we're using the proper process, the court process, to highlight whether our judiciary system can hold its own against the onslaught of this lawlessness in the country.” Ferreira recalls how he had “forewarned” President Cyril Ramaphosa, Police Minister Bheki Cele, and Transport Minister Fikile Mbalula two years ago. “I said, you're going to have the blood on your hands if you don't act. They chose, willfully, knowingly, chose not to protect their constituents. In specifically the Eastern Cape and the Western Cape and other provinces, they have used the man in the street that relies on public transport to be cannon fodder for the taxi operators. Now, why would a president and the Minister of Police and the Minister of Transport fight against the protection of the common man in the street?” - Chris Steyn

Every day, Ranmore Fund Management’s founder and chief investment officer Sean Peche uses what he learned during many years at the proverbial knee of SA’s greatest money manager, the late Dr Simon Marais. Those lessons include applying a tried and tested process of uncovering value - and working hard to avoid sectoral disasters. The result has been Ranmore’s consistent outperformance over the past decade and a half, catapulting its fund into the world’s top 1% performers. Now comes the best possible kind of recognition from SA peer Piet Viljoen, who is entrusting his firm’s $27m global value fund to Peche’s management. Peche spoke to BizNews editor Alec Hogg.

Another big name from the business sector has thrown his name in the hat as a presidential candidate for the opposition in South Africa. He is Roger Jardine, the former PRIMEDIA CEO and FirstRand chair. Jardine was also reported to have had discussions with the Democratic Alliance’s John Steenhuisen and Helen Zille as the Multi-Party Charter is seeking an alternative presidential candidate. Political analyst, Moeletsi Mbeki said the problem he had with candidates like Roger Jardin and Songezo Zibi from Rise Mzansi is that they were the employers of big businesses, they were not the owners of capital. To really make an impact, what is needed is that one of the captains of industry, the owners of the banks, retail companies and mining industry stand for elections and challenge the ANC. Moreover, South Africa, he said, did not have an electoral system that allowed a central figure to rise like businessman Sam Matekane from Lesotho who won an election seven months after forming a political party. He said he believed that individuals can’t solve South Africa’s problems and that there will be no miracles that will come out of South Africa’s 2024 elections. Mbeki also commented on President Nelson Mandela’s legacy 10 years after his death and said the deal that the ANC got from the National Party was much better than expected if the ANC’s real strength on the ground is taken into account. He said the negotiated constitution is a good constitution and people who criticise it know nothing about the reality of South Africa at the time. He again blasted the ANC’s black empowerment policies saying it is the result of an elite riddled with an inferiority complex who think they should get wealth from white people and that they cannot create wealth through their own risk-taking and hard work.

A profit reverse for Easy Equities’ parent company Purple Group in the financial year to end August set some tongues wagging. But inside the company the response to the numbers was sanguine - CEO Charles Savage explaining here why it’s all going according to plan, with the bottom line picture an expected part of the planned growth. In this post-results interview, he fills in the gaps for BizNews editor Alec Hogg.

In a story that ranks among the most extraordinary covered by BizNews, Springbok Rugby World Cup 1995 champion and pharmacy group proprietor Hannes Strydom took a massive gamble when hiring renowned forensic investigator Paul O’Sullivan. Strydom sought to establish his innocence amidst serious allegations broadcast by M-Net’s investigative programme Carte Blanche. Following an extensive investigation, with O’Sullivan’s backing, Strydom asserted his innocence in an as live interview with BizNews editor Alec Hogg. Strydom, who reported a loss of R50 million, attributed his misfortune to a purported internal criminal ring, which he claimed had also misled the team at Carte Blanche. However, the situation took a dramatic turn when O’Sullivan discontinued his services a month into the investigation due to unsatisfactory responses from Strydom. Two days thereafter, Strydom passed away in a car accident. In this revealing interview, Carte Blanche producer Nicky Troll offers her perspective: she suggests that it was actually O’Sullivan who was misled by Strydom, whom she implicates as the mastermind behind an illegal codeine distribution network. O’Sullivan, citing his devout Catholic beliefs which discourage speaking negatively of the deceased, has declined to comment on Strydom.

Close to over 25,000 healthcare workers, allied health specialists, and GPs are appealing to President Cyril Ramaphosa to refer the National Health Insurance (NH) Bill back to Parliament. South African Health Professionals Collaboration (SAHPC) spokesperson Dr Caroline Corbett says they would like it to go back for discussion and active engagement with all the role players. In addition, the Constitutional Court should be approached and it should be investigated awhether or not the Bill in its current form infringes on the constitutional rights of communities and citizens nationally. “…we’re absolutely not going to stop and sit and watch this quietly be signed off,” Dr Corbett tells BizNews - after the National Council of Provinces (NCOP) passed the Bill this week. A major concern is that the Bill “doesn't actually guarantee quality healthcare”. The SAHPC also has “massive concerns” around the governance of the fund in a country where corruption “is rife still, unchecked still, and unprosecuted in most instances”. Meanwhile, the exodus of healthcare workers continues. “This for many people is the final straw. They're not actually prepared to wait and see the impact of it attempting to be rolled out.” - Chris Steyn

Ten (10) bullets were pumped in the Democratic Alliance’s (DA’s) Chief Whip in the uMngeni municipality - after police did not act on evidence of threats against him over the removal of illegall electricity connections. After he was shot, the phone at the police station rang unanswered. And it took police hours to arrive at the house of the slain man who was assassinated in front of his wife and children. This has emerged from a BizNews interview with Francois Rodgers, the provincial leader of the DA. Rodgers believes the killing was politically motivated as there were “certain threats against him relating to the disconnection of illegal electricity connections”. He says the “lack of consequence” for this type of killing makes it very easy for these hitmen to be able to operate in the political and the traditional leadership space. Unless there were “swift” consequences, it just becomes a “means to an end for people to make money and to eliminate those who are trying to do their job”. While the DA will now beef up security around certain party officials, it is “not going to go into a hole and avoid this campaign going into 2024”. - Chris Steyn

South Africa could have no safe drinking water in five years - unless the crisis is addressed. That is the prediction from Dr Ferrial Adam, the Executive Manager of WaterCAN, an initiative of OUTA (Organisation Undoing Tax Abuse). She speaks to BizNews about the Department of Water and Sanitation reports that show that 46% of drinking systems don’t comply with microbiological standards, 67.6% of wastewater treatment works are failing, and 47.4% of our water is lost or unaccounted for. Considering that there was a 41% deterioration over nine years, we put it to Dr Adam that we could have no drinkable water in 10 years if it continued to deteriorate at that rate. “… if we carry on like that...I don't even think we'll have to wait for 10 years. I think it will be about five years, because once you reach a particular point, you know, a tipping point, it's just downhill from there and it's much faster. So I think that in terms of the quality of our drinking water, there definitely is a need to treat it as if there's a crisis.” - Chris Steyn