BizNews Radio

What was really revealing to me as I listened to the different country finance discussions today is that they all point to the scale of financing needed to deliver on a just transition. It’s a massive challenge. Finance needs to be mobilised at scale and then that finance needs to be implemented. Big difference between mobilising finance and actually implementing transactions on the ground.

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The key question from this cracking interview with forensic investigator Paul O’Sullivan is whether Cyril Ramaphosa’s appointment of SA’s “very high risk” Police Commissioner was the result of neglect, incompetence or wilful deceit. Despite being provided by O’Sullivan with hard evidence that Fannie Masemola spends much more than he earns, overlaid by concerns that he’d spent six years as deputy to a corrupt former boss, SA’s president still appointed him Police Chief. His endorsement was included in Ramaphosa’s Nation Address where spoke of his confidence that Masemola was “more than up to this task and responsibility”. In this powerful interview O’Sullivan explains his detailed investigation ahead of the appointment revealed six of eight candidates were unsuitable, Masemola among them having been described as “very high risk”. He says a Sunday World report over the weekend that reveals Masemola’s corrupt practices should spur Ramaphosa into action as “this has the potential to be much more damaging to him than Phala Phala.” O’Sullivan spoke to Alec Hogg of BizNews.

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Vice President and CFO of the New Development Bank Leslie Maasdorp says the collective 100 billion dollar annual pledge made by the developed world to the developing world many years ago in Copenhagen to help fight climate change has not yet left the developed world. If not now, then when?

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In the second of our four part introduction to crypto currencies, Luno’s Carin Bowman and lawyer Bright Tibane of Bowmans offer some practical steps to acquire your first digital money. It’s easy (click a button) and with fractionalization ensuring a low barrier to entry (R100), this new investment class is available for all. The duo also share more of the basics including advice on which crypto currencies are safest for investment; how to safely store them in a digital wallet; and practical pointers to ensure you avoid any crypto scam. Caron and Bright were interviewed by Alec Hogg of Biznews.

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Accelerating Adaptation in Africa aims to support the international community to make Sharm El-Sheikh a keystone moment to deliver a big win for Africa with international partnerships at COP27 really helping to drive adaptation action in Africa.

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DBSA Boss Patrick Dlamini says the right energy is certainly here at COP27 but he hopes that there is also clarity of mind on how to move forward on implementation. 

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Nedbank Corporate and Investment Banking Head Arvana Singh is at COP27, Sharm El Sheikh, Egypt discussing Nedbank's commitment to the global climate convention.

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Following a five-year court battle, Sakeliga is welcoming a new Treasury regulation for public procurement that completely omits BEE and local content requirements when tendering to do business with the state. Sakeliga CEO Piet le Roux says it marks the end of "compulsory BEE and local content requirements in state procurement. That's a very harmful arm of the octopus [state] that has now been cut off." In 2017 Sakeliga went to court to challenge regulations put out by then Finance Minister Pravin Gordhan making it possible for state entities to preemptively exclude bidders based on their BEE or local content status. In February this year, the ConCourt ultimately found the minister had no powers to prescribe to entities of the state what their preferential procurement policies should be. That discretion resides with entities themselves. But, while Treasury may no longer mandate, prescriptively, that BEE or local content requirements must be taken into account in a tender, a municipality or SOE could still insist on it - as long as the tender process doesn't fall foul of section 217 (1) of the Constitution. That particular section states: "When an organ of state in the national, provincial or local sphere of government, or any other institution identified in national legislation, contracts for goods or services, it must do so in accordance with a system which is fair, equitable, transparent, competitive and cost-effective."

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The developed world must take responsibility and lead in terms of climate financing, but the developing world must also act responsibly in terms of their own stance towards combatting climate change. Simon Angombe is Associate Dean at the School and Agriculture and Fisheries at the University of Namibia.

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WWF is working to tackle the climate crisis in a variety of ways. From encouraging governments to implement more ambitious climate policies, to supporting the shift to renewable energy, to working with cities, businesses, and communities to create a climate resilient, net-zero future. We caught up with Laurent Magloire Some, Head of Policy and Partnership for the Africa Region at WWF International.

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