BizNews Radio

The success of a new plan to fix ESKOM hinges on the implementation, the funds available to actually implement it - and the political will to do so. That is the warning from the Democratic Alliance’s (DA’s) Shadow Minister of Public Enterprises Ghaleb Cachalia. He speaks to BizNews following the announcement that Germany-based energy consultants have completed a review of South Africa’s struggling coal-fired plants to present a revival plan to Treasury. Meanwhile, Cachalia accuses government of “political interference” in the run-up to election. “…if you look at ESKOM’s just recently published…schedule of planned maintenance, you'll see that there's a lot of maintenance going on now and over a period of time leading up to the elections. Just before the elections the planned maintenance comes down. So we suffer now in Stage Seven, but hey presto, somebody “fixes” everything…just around the election time.”

Dive into the world of finance with our latest podcast episode. Join host Stuart Lowman from BizNews as he explores week 20 insights in the Fantasy Fund Manager podcast. Special guests include Garreth Montana from Corion Capital and Carmen Nel, Head of Multi-Asset at Terebinth Capital. Discover market trends, investment opportunities, and challenging landscape tips. Gain valuable insights on how to approach SA Inc., the impact of media on sentiment, and much more. Whether you're a seasoned investor or just curious about finance, this episode offers valuable perspectives to elevate your financial understanding. Remember, each dawn of Monday is your chance to pitch your winning stocks. With enticing prizes awaiting, the game is on. Rally your comrades and head to www.fantasyfundmanager.co.za to register—big thanks to our platinum sponsors, Sharenet, Terebinth Capital, ClucasGray Asset Management, and MoneyBetter. And mark your calendars: Subscribe now to our podcast to keep up with every episode.

EasyCrypto's chief executive Earle Loxton offers a bullish view on where the Bitcoin price is heading over the next year, basing his analysis on the historical trend of price surges every four years as new coins are added to the market. His thesis stems from the belief that during these intervals, the number of fresh Bitcoin created halves with each four-year cycle - reminding investors of the hard supply cap, and thus encouraging accumulation. Fascinating insights on a market whose extreme volatility confuses its supporters and critics. - Alec Hogg

South Africa’s incompetent Public Protector Busisiwe Mkhwebane lasted 1700 days in office because she was protected by the ruling African National Congress (ANC).  Accountability Now director Paul Hoffman SC says she knew she was “royal game flying under the wing of Jacob Zuma and that the ANC dominated” in Parliament.  He speaks to BizNews following her formal sacking by President Cyril Ramaphosa today (Wednesday) – a month before her term was due to end - following her belated impeachment in Parliament. In her reaction, however, Advocate Mkhwebane posted on Twitter: “DA/ANC MISSION ACCOMPLISHED! I wish we could see such ‘concomitant efficiency’ to end loadshedding? This injustice, sadly perpetrated on Steve Biko Day, will be legally challenged in review proceedings. The stone the builders rejected became the cornerstone. If I perish I perish. Ngiyathokoza Mzanzi and Africa” - Chris Steyn

After the fallout following Net1's disastrous engagement with South Africa's welfare payment agency SASSA, the company's share price fell to a fraction of its highs. The seemingly hopeless case, however, attracted activist shareholders Value Capital Partners and two years later, the private equity turnaround specialist's efforts are bearing fruit. Financial results for the year ended June reflect a massive bottom-line turnaround. CEO Chris Meyer reckons there's much more to come, with another strong 12-month forecast and longer-term profit growth of 20% targeted. Given the pedigree of its new managers and supportive shareholders, the company now called Lesaka may well be the exponential growth opportunity South African investors haven't seen since the glory years of Naspers. - Alec Hogg

A black industrialist is taking the Industrial Development Corporation (IDC) and the Public Protector (PP) to the High Court. Angus Norkie of Nocks Oil charges that there was “something seriously sinister” in how the goal posts kept being shifted by the IDC when he tried to secure funding. He says “more surprisingly”, when the “maladministration” within the IDC was reported to the PP, he was met with “more lawlessness”. Speaking to BizNews, Norkie gives a blow-by-blow account of his dealings with the IDC since 2018, as well as his subsequent dealings with the PP’s office. “Politicians are fond of saying that we live in a democracy, but that democracy means absolutely nothing without effective public protection…This is autocracy with a lack of accountability,” he says. - Chris Steyn

Springbok coach Rassie Erasmus has been described as charismatic and intelligent. However, he is accused of abandoning grace and dignity when he upsets the status quo and pushes the boundaries of what the rugby-loving world deems fair. When he questioned the referees' decisions in a viral video rant, which he said he made for consumption by his inner circle, rugby authorities did not believe his version, and he was slapped with a ban. The confident rugby coach on the international stage who is not afraid to stir controversy is not the Rassie that broadcaster and author David O'Sullivan encountered during their many meetings to write Rassie's biography, "Rassie: Stories of Life and Rugby." In an interview with Biznews, O'Sullivan said that instead of the charismatic, loud man he expected, he encountered a very shy Erasmus who was not keen on public interactions and did not believe he had a story to tell. O'Sullivan says he would like Rassie's critics to read the book to understand that the way Erasmus did things was maverick and different, but it wasn't cheating. He said the traffic light system, which caused another stir after the 2023 World Cup Rugby match between South Africa and Scotland in Marseille, was nothing new and had been used by Erasmus during Currie Cup matches. O'Sullivan said he hoped that Rassie's legacy would be that he brought about an effective transformation in South African

Patriotic Alliance (PA) leader Gayton McKenzie has confirmed that he is part of talks with “many parties” in the Western Cape to oust both the ruling African National Congress (ANC) and the Democratic Alliance (DA) from the Western Cape. And in his prediction for the outcome of the watershed 2024 national elections, McKenzie says his PA is the only party that stands in the way of the Economic Freedom Fighter’s (EFF) hope to be the Kingmaker. He lists the actions the PA would take if it wins that race. In this latest wide-ranging interview with BizNews, McKenzie also reveals plans to fill Orlando Stadium on the 10th anniversary of the PA in November. And he speaks frankly on his party’s biggest milestone; his biggest regret of not including other races in his party from the start; accusations that the PA can’t be trusted; and his criminal past. He also slams big business for propping up both the Apartheid and ANC governments.

Winnie Mandela, the late wife of South Africa’s first democratic president, Nelson Mandela, feared that corruption would destroy the African National Congress (ANC). In fact, she was so worried about it that she even enlisted the help of a former Apartheid-era Crime Intelligence (CI) officer Doc Pretorius to mitigate the damage. The two became so close over two decades that she called him “the son I never had” in the inscription to him of her book “491 Days”. Pretorius - who wrote a book titled “Winnie Mandela’s Last Wish” - gives BizNews the inside story of the “unholy trinity” between transnational organised crime, criminal terrorist groups and corruption that is “protected by securitisation structures”. He believes it is still possible to fix the problems in the country, and urges people to come forward to do so “because if we're not gonna work together, people might find out that they're going to get exposed…” He also shares details of a meeting between him, Mrs Mandela and Jacob Zuma; and reveals what she told him about the Stompie Affair that so severely damaged her international standing. - Chris Steyn

After a sparkling career in the DA where, as executive mayor, he oversaw seven clean audits for Mid Vaal, Bongani Baloyi was a surprise departure - and even more surprising arrival at Action SA. Now the leader of his own political party, Xiluva, he shares the story with Alec Hogg of BizNews. - Alec Hogg