BizNews Radio

Joburg councillor Colleen Makhubele says no one bribed her to vote against her coalition partners in the city's multi-party government. She says she's done it before and would do it again. In an expansive interview with BizNews, Makhubele - who ran as COPE's mayoral candidate for the city in 2021 - explains the rationale behind her decision to vote with a PAC-sponsored motion to remove the DA-aligned speaker of council, Vasco da Gama. This despite COPE forming part of the nine-party coalition that has led the city since the 2021 local government elections with a combined total of 140 out of 270 seats in council. Some councillors from COPE, IFP and the ACDP - all of whom form part of the coalition - voted in favour of the motion.

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In this controversial speech from the fourth BizNews Conference, Rob Hersov discusses his ideas on governance in South Africa, calls out current Cabinet Ministers and reprimands Cyril Ramaphosa - as well as giving his ideas on potential solutions to fix South Africa.

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Corion director Garreth Montano explains in this interview how an idea to tap into the best ideas of four free-thinking asset managers is working out. The Prime Concentrated Equity Fund combines between four and eight stock picks by four money managers, with Corion adding a few balancing stocks of its own. Two years since launching, the highly focused fund is significantly outperforming its benchmark, leaving "Flock Stocks" in the dust. Montano spoke to Alec Hogg of BizNews.

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It's been a tentative few weeks in Joburg with the future of the multi-party coalition government under scrutiny - and Mayor Mpho Phalatse herself potentially in the firing line. But the mayor believes her job is safe and the coalition is "as united as we've always been". This after several councillors from within the pact of nine parties - governed by a coalition agreement - went rogue and voted with opposition members to oust the DA's council speaker Vasco da Gama. One of those councillors is Cope's Colleen Makhubele, who serves as the chair of chairs in council. Makhubele has made no bones of the fact that she voted with her conscience to boot Da Gama from his position despite the coalition agreement. Makhubele herself now faces a motion of no confidence after the High Court in Johannesburg ruled against her.

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Fun-loving conductor Richard Cock personifies classical music in South Africa. The 73-year-old Maestro this year is celebrating a quarter century of his hugely successful creation Starlight Classics. A musician who dedicated his life to expanding the appreciation of classical music in his homeland shares a fascinating journey - one which took him from childhood in Gqeberha on to Bishops in Cape Town, to eight years in the UK mostly studying Church Music, through to his directorate at now-defunct Classic FM, the niched SA radio station modelled on its British counterpart. Articulate, hopeful and reflective - Cock spoke to Alec Hogg of BizNews.

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In this riveting fireside chat at the fourth BizNews Conference, Paul O’Sullivan relates his experience of struggles with corrupt politicians. He recalls various encounters with crooked police he was trying to bring down and gives his view on what really happened at Cyril Ramaphosa’s Phala Phala farm, where a few million dollars were allegedly stolen from the president's residence, as well as many more interesting insights.

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In more than three decades of managing assets, John Biccard of Ninety One has consistently acquired co-ownership in out of favour businesses. His style, called value investing, faced stiff headwinds over the past decade. But he believes the tide has turned and it's now time to fill up your portfolio with JSE-listed 'Lucky Seven' stocks - mid-cap listings trading on seven times earnings and yielding 7% in dividends. He explains why in this investing masterclass, sharing thoughts on a number of shares that qualify, including his "best idea" to which he has allocated a hefty 10% of his Ninety One Value Fund portfolio.

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In February this year, the UK government took the decision to shut the Tier 1 investors visa route into the country, more commonly known as the ‘golden visa’, citing security concerns. It was effectively closing the stable after the horse had bolted, however, as the visa that allowed wealthy foreign investors with at least £2 million in investment funds to fast-track residency was used to funnel dirty money into London. Mishal Patel from Sable International told BizNews that there are other new routes for South Africans wishing to gain UK residency or citizenship, including a new innovator visa. Added to that, Patel said historic wrongs in terms of discrimination have finally been removed from UK nationality law, which could also lead to thousands of people in South Africa being able to claim British citizenship through their UK-born grandmothers. – Linda van Tilburg

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A political tussle is playing out in the City of Johannesburg, following the recent booting out of the DA's speaker Vasco da Gama in a motion of no confidence, with mayor Mpho Phalatse ultimately the next target. Da Gama's ousting was made possible by certain councillors from smaller parties breaking the multi-party coalition agreement, by voting with a motion brought by the PAC (as a proxy for the ANC) to remove the speaker. Cope councillor Colleen Makhubele - who presides as the Chair of Chairs in council - regards herself as the "acting speaker" and has called a special sitting on 13 September. DA deputy caucus leader Bongani Nkomo tells BizNews the party is headed to court on an urgent basis seeking to interdict Tuesday’s planned special sitting from taking place. Nkomo says the acting speaker's role falls to the city manager and not Makhubele.

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The Auditor General of South Africa has released a report naming and shaming 15 government departments who consistently incurred fruitless and wasteful expenditure over five years amounting to R1.5bn. AG CFO Bongi Ngoma also briefed Parliament's Standing Committee on Appropriations about the financial health of government departments, agencies, and state-owned entities. It's a shocking state of affairs. BizNews correspondent Michael Appel takes a look.

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