BizNews Radio

Simultaneous action in South Africa’s courts and Parliament could be the final nail in the coffin for the ANC’s practice of cadre deployment, which was recently deemed “unconstitutional” by State Capture Inquiry Chairperson Raymond Zondo in his final report. Speaking to BizNews, the DA shadow minister of public service and administration, Dr Leon Schreiber, explained that on top of going to court to have it declared unlawful, he also introduced the so-called End Cadre Deployment Bill in Parliament in August 2021. Schreiber is hopeful this two-pronged approach could finally bring an end to cadre deployment; a secretive parallel structure operating in such a way that it “amounts to unfair labour practice”.

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Transport Minister Fikile Mbalula says cabinet will announce its decision on the future of e-tolls as a funding mechanism for Gauteng freeways in October this year. However, Organisation Undoing Tax Abuse (OUTA) chief executive Wayne Duvenage tells BizNews it has heard these sorts of commitments for years. Mbalula told a press conference last week that one funding option on the table was to increase the fuel levy in Gauteng, but in light of the skyrocketing fuel prices and the increasing burden on consumers, this was no longer an option. Duvenage says, “They’ve already allocated funds via Treasury to Sanral to offset these Gauteng Freeway Improvement bonds to the tune of over R14bn in the last six years. So, they’ve been practising that mechanism of financing for some time now.” Electronic toll collection, known as e-tolls, is wildly unpopular and the vast majority of motorists have refused to pay. Duvenage believes the highest payment compliance rate Sanral was able to achieve was 40% in June 2014. It is widely acknowledged that compliance rates of over 90% are required for the funding model to be feasible.

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This episode of the BBB features some sizeable losses for JSE heavyweight shares over the past week (Naspers aside); and excerpts from Mike Appel's excellent interview with the DA spokesman on the formal laying of charges at the cops that its political opponent is a criminal organisation; and Alec Hogg discussion with newly acquired Action SA heavyweight over the water crisis in Nelson Mandela Bay - and what makes you leave your 38-year old political home for a competitor.

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The Eastern Cape farm boy who was fluent in Xhosa before speaking his home language, says he has finally found a political home that is truly South African. Former DA parliamentary leader and then the party's federal chairman, Athol Trollip, was coaxed out of retirement by Action SA leader Herman Mashaba and joined the new party in February. In this fascinating interview with Alec Hogg of Biznews.com, Trollip says he is energised by his new surroundings and like his colleagues, is hard at work to ensure there is a new government in South Africa after the 2024 National Election. Describing himself as a 'conviction politician' rather than someone who makes a living from the trade, Trollip says it is liberating to be a member of a political party perceived as a home for all South Africans, rather than having to continuously defend the 'whiteness' of his past establishment. Athol will be at the fourth BizNews Conference, to be held from August 30 to September 2, at Champagne Sports Resort in the Drakensberg. Details at https://www.biznews.com/biznews-investment-conference.

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The DA wants the ANC investigated for systemic and calculated fraud, racketeering, corruption, looting of state coffers, and related offences spanning two decades. DA national spokesperson Cilliers Brink confirmed this in an interview with BizNews in which he expanded on the rationale informing his party’s laying of criminal charges against the ANC in terms of the Prevention of Organised Crime Act. The actions of the governing party, Brink believes, has clearly conformed to that of a “criminal enterprise”.

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This morning's Briefing looks at the worst first half for shares since 1970; features excerpts from interviews with the lawyer whose business client successfully sued the ANC for R102m, andairline veteran Gidon Novick who talks about the demise of the 'family business' Comair, his successful new airline Lift, and the bid to buy SAA; plus our partners at the FT explains why the dream of China's middle class is to find somewhere else to live.

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BizNews A-Plus Show duo Alec Hogg and Michael Appel are back with episode 9 of their weekly round-up of business, investments, news and politics banter you need to know. In focus this episode: Alec unpacks Cemair becoming SA's third biggest player in the airline industry; restauranteurs/landlords not seeing eye-to-eye; Prosus/Naspers share buyback plan; Godongwana's name crops up in Gupta bank account closure saga. The DA lays criminal charges vs the ANC...again,;ANC slapped with R120m bill or possible liquidation.

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The founder and CEO of exponentially expanding Easy Equities is the picture of bouncy optimism despite a share price that’s dropped from 330c to 215c in the past two months. Purple Group’s bossman Charles Savage reckons the fintech sector’s move into ‘recessionary mode’ opens up the opportunity for Easy to move out of its home base to global leadership. In this podcast he tells Alec Hogg of BizNews.com that today’s expansion to add UK and European stocks to its offering for clients serves notice of its ambition.

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His family's half century of involvement with the bankrupt Comair ended 10 years ago, but as you'll hear in this podcast, former CEO Gidon Novick is still smarting at the demise of the 'family business'. The qualified chartered accountant has moved on, however, helping to cofound the successful Jhb/CT route specialist airline Lift, and a key participant in the consortium that's acquiring South African Airways. Novick updates us on the latest at these two airline, on conditions in the sector and takes a flyer at where it will be heading in this interview with Alec Hogg of BizNews.com.

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The ANC has been ordered to pay KwaZulu-Natal businessman Renash Ramdas about R120m by the close of business on 30 June 2022 or face possible liquidation proceedings. This after the South Gauteng High Court dismissed the ANC's attempt to overturn a previous judgment that the party must pay for 30,000 PVC banners that were supplied and erected on its behalf ahead of the 2019 general election. BizNews editor Michael Appel spoke to Ramdas' attorney Shafique Sarlie.

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