BizNews Radio

The DA remains adamant that an ad-hoc committee is the most appropriate and effective means through which to hold President Cyril Ramaphosa accountable for the allegations stemming from the Phala Phala robbery in February 2020. But in July this year, National Assembly Speaker Nosiviwe Mapisa-Nqakula denied their request, citing other organs of state which were dealing with the matter. Meanwhile, the Speaker announced that she would refer the African Transformation Movement's (ATM) Section 89 motion - to impeach Ramaphosa - to an independent panel composed of three panel members. DA deputy chief whip Siviwe Gwarube told BizNews parties have until 1 September to put forward their nominations for the panel. She argues that a newly announced probe into the Phala Phala matter by the Joint Standing Committee on Intelligence (JSCI) would be limited in its scope, probing only two aspects. These include deputy state security minister Zizi Kodwa's alleged involvement in a cover-up, and the abuse of intelligence funds. Ramaphosa would be spared scrutiny by the JSCI, which operates behind closed doors with all committee members sworn to secrecy. Should the Section 89 Committee find a prima facie case for Ramaphosa’s impeachment, Gwarube explains it will require a two-thirds majority to boot the President from office.

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In this powerful expose' of a R320bn ripoff, straight-shooting financial insider Sean Peche says despite massive underperformance, SA's Big Three Balanced Fund unit trusts are harvesting billions every year from clients via management and 'performance' fees. The mushrooming of these funds into R100bn giants, is driven by marketing and profits, and has nothing to do with returns to savers - which have been pathetic. The fiercely independent founder of UK-based Ranmore Funds says it's high time SA's savers accepted their best protection against market volatility is not through abdicating to a guaranteed loser like these big Balance Funds - but by taking responsibility, adopting a long-term approach and keeping a close eye on costs. Peche, who is based in London, will be delivering a keynote address at the 4th BizNews Conference to be held at Champagne Sports Resort in the Drakensberg at the end of August.

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A slight change to the BizNews Breakfast Briefing format on a day when the Nasdaq gained almost 3% to officially move the tech heavy index back into a Bull Market. Stimulus came from a US consumer price index for July that was lower than analysts had anticipated, suggesting peak inflation is behind us. Big moves, too, from Bitcoin and the Rand overnight with both extending recent gains. Also in this episode of BBB with Alec Hogg and Lucy Ferreira - an assessment of Nedbank's financial results for the half year to end June, released yesterday while our partners at the FT share insights into sparkling quarterly numbers delivered by Disney.

‘The greatest health scam of the century’ – Professor Tim Noakes on Ancel Keys’ CHD failings and insulin resistance

2024 could be a ‘breakthrough moment’ for SA as electorate seeks alternatives

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Deeper research into the functions of the human body never cease to move beyond the realm of fascinating. In an insightful discussion with Professor Owen Epstein, a pioneering professor of gastroenterology based at the Royal Free Hospital in Hampstead, London, the gut-brain connection was explored. He explained the significance of the vagus nerve - the internet and superhighway of the human body - keeping us constantly aware of our safety, the same way our external organs (eyes, ears, nose) monitor our external safety. The critical part played by this relatively unknown cranial nerve has gained extensive prominence over the last decade, and this interview leaves no question as to why.

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Bronwyn Nielsen spoke to Mike Peo, head of Infrastructure, Energy and Telecommunications at Nedbank Corporate and Investment Banking about the green hydrogen energy space and whether this is going to be transformative for the energy landscape in South Africa and potentially, Africa. While Peo confirmed that we may be on the cusp of a revolution in the energy space, he emphasised the need for a proper transition in South Africa, which has two of the world’s biggest polluters: Sasol and Eskom. He also expanded on South Africa’s commitment to a green hydrogen economy in the country, cautioning against over-regulation.

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Plenty to catch up on after SA's public holiday yesterday, but little of it is encouraging. US stock markets are fretting over downbeat reports from New York listed chip makers and corporate America's anger at Joe Biden's economic package announced yesterday. The share price of BizNews portfolio favourite Palantir lost 20% in two days despite the company beating analysts' revenue projections for the second quarter because its forecast for Q3 is well below what they had pencilled in. On a broader front, investors are worried by news from Taiwan that security officials want Apple's supplier Foxconn to sell its $800m stake in a Mainland China chip-maker. On the brighter side in this morning's BizNews Breakfast Briefing, the JSE was lifted on Monday by gold producing shares, especially long-time laggard Anglogold, which reacted positively to the rising bullion price and the Rand has picked up a lot of ground against its major crosses.

SA’s new generation entrepreneurs: Meet township baking mogul Refiloe Rantekoa – with GG Alcock

The dynamo called Grace Harding – creating a collective to fight for restauranteurs against ‘divide and rule’ landlords

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The 2024 national elections could herald a transitional phase in the history of South Africa, depending on the emergence of a new political vehicle located outside of traditional party politics. That's what polling data tells political analyst Lukhona Mnguni, head of policy and research at think-tank, the Rivonia Circle. He's confident that coalition politics is likely to dominate the national political landscape, pointing out that the ANC's own discussion documents peg their performance in the upcoming elections at below 50%. A December survey by the Rivonia Circle found that 48% of respondents want a new alternative, while a third said they would contribute to building a new alternative if they trusted its leadership. Mnguni says South Africa has been characterised by a "democracy of egos and personalities and not a democracy of issues".

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Markets were neutral on Friday as July's US jobs numbers surprised economists to the upside (more than double forecasts) while BizNews stock holding Cloudflare rallied 27%. Also in today's BizNews Breakfast Briefing top gig companies, Uber and Lyft are making more than ever, while Apple is in hot water for claims of mishandling harassment and misconduct cases.

Low profile, big reputation: 36ONE’s Cy Jacobs on Naspers, Absa and the investment approach that’s attracted R33bn

Best of BizNews #1 – Andrew Donaldson: Asking RW Johnson why SA hasn’t much time left

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In this episode of CrypTalk, BizNews' Ross Sinclair speaks with Gaurav Nair of Jaltech, an alternative investment fund, about NFTs, what they can be used for, whether they will all be worthless one day, as well as the Solana cyberattack which stripped multiple Solana owners of their tokens to the estimated amount of $8m. 

Also discussed is what drove the growth of the Jaltech cryptocurrency basket after a promising month in which the value of the basket rose by around 33%. 

For more information about Jaltech: https://www.biznews.com/jaltech-cryptocurrency-notes

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Makashule Gana has called it quits with his political home - the DA - and vows not to join any other existing political party, instead seeking to establish a new political alternative. Gana has been a constant within the DA for the past two decades, but tells BizNews he leaves with no regrets after giving it his all. He resigned from the party and his position in the Gauteng Provincial Legislature with immediate effect as of 4 August 2022. “South Africa is thirsty for a new alternative and I want to be part of those conversations,” says Gana. To read his resignation letter click here.

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