BizNews Radio

Not long ago, global mining entrepreneur Neal Froneman’s was the only name worth mentioning when asked about SA business leaders calling out its incompetent, corrupt government. Of late others have joined the Sibanye-Stillwater CEO, with the common view among SA business leaders is the country has fallen so far that it’s in a place where there is no longer any downside for those speaking truth to power. In this interview, Froneman explains why, for the first time in his long entrepreneurial career, he has joined into an organised business initiative with the government. He shares the progress so far and what he expects to achieve alongside Remgro’s CEO Jannie Durand in the Crime and Corruption workstream - and leaves us with a message of hope. He spoke to Alec Hogg of BizNews. Learn more about your ad choices. Visit megaphone.fm/adchoices

William Saunderson-Meyer, author of SA’s longest-running political column, revisits a kite he first flew six months ago - the potential national presidency of 52-year-old Freestater Fikile Mbalula. In recent weeks. Mbalula has been calling out his ANC colleagues from the councillors at Umsunduzi and supposedly powerful cabinet incumbents through to president Cyril Ramaphosa. WSM applies his mind to the question of whether self-proclaimed ‘Mr Fixit’ will ascend from ANC secretary general to the corner office in the Union after the 2024 election. He spoke to Alec Hogg of BizNews. Learn more about your ad choices. Visit megaphone.fm/adchoices

This interview explores the 25-year success story of Peregrine Capital with its co-founder and executive chairman, David Fraser, and CEO, Jacques Conradie. They share insights into their investment philosophy and strategies, emphasising the importance of backing strong franchises and conducting thorough fundamental research. They also highlight the need for disciplined selling and avoiding emotional attachments to investments. There's also valuable advice to aspiring investors, encouraging lifelong learning and the importance of understanding management teams as it can lead to rewarding opportunities to buy - or short-selling prospects. Learn more about your ad choices. Visit megaphone.fm/adchoices

A former Security Branch (SB) informer who defected to the African National Congress’ armed wing uMkhonto we Sizwe (MK) as an intelligence operative - and who left the ANC after 32 years to form his own party - is one of the opposition leaders who will be at the upcoming national convention of “pact” members. He is Neil De Beer of the United Independent Movement (UIM). He speaks to BizNews about what he fought for in the past and what future he is fighting for now. De Beer gives his reasons for joining the “Moonshot Pact Coalition”, and says the 2024 election is about “numbers” and “logistics” - not politics. De Beer also speaks about what drives him, his epic cancer battle, and his relationship with God. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Cyril Ramaphosa and other African leaders have gathered in St. Petersburg for the second Russia-Africa summit. The previous summit took place in Sochi in 2019. Amid Russia's deepening isolation from the West due to the invasion of Ukraine, President Vladimir Putin has increasingly turned to Africa. However, Independent Journalist and Foreign Policy Analyst, Peter Fabricius, told Biznews that only 17 out of the 43 African leaders who attended the 2019 Sochi summit indicated their willingness to participate this time. Fabricius emphasised that Putin's hosting of the African leaders is an attempt to demonstrate that he is not as isolated as the West perceives him to be following the invasion. African leaders, he said, are hoping to reinstate the export of Ukrainian grain. Fabricius also shared that despite being accredited as a member of the press for the summit, his accreditation was unexpectedly withdrawn at the last minute—a move he suspects may have been initiated by the Russian embassy in Pretoria - Linda van TilburgYour early morning brew of the BizNews Insider keeps you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here - https://bit.ly/3lfVRYP.---Timestamps00:09 - Introductions00:47 - Peter Fabricius on being withdrawn accreditation to attend the summit02:29 - If any of the pledges from the last summit materialised03:08 - On the drop of African attendees04:01 - On what Putin is trying to get from the summit04:53 - What the African leaders are hoping to gain06:06 - On the Russians bumper crop of grain from the Ukraine07:36 - On if African leaders will mention the influence of the Wagner group in Africa08:35 - On if the peace initiative that Ramaphosa and some African leaders initiated might be on the table10:14 - How the West sees this11:34 - On the human rights violations in Ukraine and if they will be discussed14:35 - On if Jacob Zuma will attend the summit15:40 - Any new developments on the BRICS Summit16:41 - Conclusions Learn more about your ad choices. Visit megaphone.fm/adchoices

Amid the mounting political uncertainty in the lead-up to the 2024 elections, coupled with the persistent volatility of the Rand and unsettling discussions on the term 'failed state,' South African investors are increasingly turning their gaze towards foreign shores in pursuit of financial security. Julian Adshade from Sable International says that the depreciation of the Rand stands out as the primary impetus driving South Africans to contemplate offshore investments. The Rand, he said, has depreciated 6.5% per annum against the dollar since 1994. Furthermore, the looming political risks associated with the upcoming elections and the notion of securing assets abroad for the benefit of future generations contribute to the growing discourse on safeguarding funds by investing them overseas. During this interview with BizNews, Julian Adshade delves into the advantages of offshore investments for South Africans, explores the various investment vehicles worth considering, and provides insights into the potential tax implications of overseas investments. Learn more about your ad choices. Visit megaphone.fm/adchoices

Martin Wolf, the esteemed chief economic commentator at the Financial Times, requires little introduction. Regarded as the gold standard of financial and economics journalism, Wolf’s latest book, The Crisis of Democratic Capitalism, serves as a wake-up call for democratic nations. In it, he highlights the faltering marriage between democracy and the market economy, exposing democratic nations to the perils of profoundly anti-democratic forces. In an exclusive interview with Biznews, Wolf delves into his background and how it has shaped his perspectives, illuminating the concerning backsliding of democracy and proposes remedies to reverse this decline ‘before it is too late’. Reflecting on South Africa, a country for which he penned his “saddest but perhaps best column” in the early 2000s, Wolf laments the predatory and non-productive elite that is not creating new wealth. The leadership’s unbelievably difficult task, he says, has deteriorated. He emphasises that South Africa’s path to success necessitates the economy to grow at 5% a year and the incomes of the poorest should grow at 7 or 8%. Learn more about your ad choices. Visit megaphone.fm/adchoices

There is rising concern in Europe as soldiers of the Wagner Group are on the move again. BizNews gets news of the latest developments from the Omega Consulting Group’s (OCG’s) Andrei Kebkalo who describes the Wagner Group as “Putin’s Shadow Army”. He counted 13 Wagner columns crossing the border with Belarus, with the last one arriving this morning (Friday 28 July). There are also 3,000 to 4,000 personnel and 800 vehicles in the Wagner field camp 200 kilometres from Ukrainian border. Another 10,000 personnel is expected to arrive. As for fears that they could soon be heading to Poland, Kebkalo says it is a “possibility” as the Russians are trying to drag NATO countries into the war. He also gives an update on the “very difficult counter-offensive”, and reveals that the military is in a “terrible state” while corrupt Government officials are crossing the border with suitcases full of US dollars, and people are buying golden chairs, golden tables, and “everything made of gold”. Kebkalo says: “It’s very embarrassing because for some people, a war in Ukraine is a tragedy. And on the other hand, for other people, it's like a free ticket to a dream life.” Learn more about your ad choices. Visit megaphone.fm/adchoices

South Africa has emerged as a formidable force in fighting wildfires all over the world, with firefighters from the job-creation program "Working on Fire" gaining international recognition. In June, a team was dispatched to Edmonton, Canada, to bolster firefighting efforts against raging blazes that had consumed homes for over a month. What sets the South African team apart from others is their tradition of singing, which has gone viral. Trevor Abrahams, Managing Director of "Working on Fire," told Biznews that the program is providing employment and fostering cohesive teams that are sought after overseas. He said with climate change predicting worsening wildfires, their services are increasingly in demand and their "business is going to boom." Commenting on the wildfires in Europe and parts of Northern Africa, Abrahams said the increased exposure of some countries to wildfires necessitates preventative work, governments should be shifting more resources to forestall wildfires. Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s been two years since Altvest burst onto the South African investment scene, promising to democratise private equity by offering a way into private companies for small investors. The challenge, however, was more daunting than anticipated and only two listings have been concluded to date - far from the ‘one a month’ that had been anticipated. But founder and CEO Warren Wheatley says lessons have been absorbed - and this week Altvest announced the appointment of a new chairman and three fresh directors which is likely to give the visionary concept fresh impetus. In this interview, Wheatley, new chairman Stafford Masie and one of the new non-executive directors GG Alcock share their excitement. They spoke to Alec Hogg of BizNews. Learn more about your ad choices. Visit megaphone.fm/adchoices