BizNews Radio

The last time that South Africa hosted a Formula 1 championship at Kyalami was in 1993 before democracy dawned in the country. In the years up to then, it hosted legends like Damon Hill, Sterling Moss, James Hunt, Niki Lauda, and off course our own world champion, Jody Scheckter with the 9-hour races attracting top endurance riders and teams. In the last year; talks have been going on in the background to re-instate the South African Grand Prix. And now, Motorsport SA Chairman Anton Roux, a well-known board room veteran’s appointment to the senate of the international body overseeing motorsport, the FIA or Fédération Internationale de l'Automobile has given new hope that a South African Grand Prix could be on the calendar by 2023. Roux spoke to BizNews about the drive to get Formula 1 back in South Africa, the Hamilton-Verstappen controversy, how a new generation of younger, female, and non-white participants and spectators are emerging and where spinning cars, which have become popular in townships, fit in. – Linda van Tilburg

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Founder of Discovery Adrian Gore gives an in-depth insight to the growth avenues the insurance giant is pursuing. Its core business units remain Discovery Health and Discovery Insure, but the business is leveraging its loyal client base to expand into other avenues of growth. Discovery Bank, although currently loss-making, is growing rapidly. The bank’s performance will be monitored closely by investors, given that the majority of expansionary capital expenditure is going towards building that business unit. Cathie Wood’s ARK Invest recently invested more than R600m into Discovery, with Gore outlining the alignment in strategy with regard to technological advancements in each business unit’s models to create increased efficiencies. Gore says Ping An, of which Discovery has a 25% stake, is still central to its growth strategy despite ominous signals by the regulatory authorities in China. 

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Hard-hitting investment strategist Magnus Heystek gave his insight into Enoch Godongwana’s first budget speech as finance minister. On a high-level basis, Heystek gives the finance minister the thumbs up. This doesn’t mean Heystek doesn’t have his doubts; as we’ve come to expect from the ruling party, promises are rarely delivered. The tax windfall was primarily a result of the commodity boom and the profits realised from the mining sector. The sustainability of these profits must be questioned, given the volatile nature of commodity prices. Eskom’s financial position has stabilised somewhat, despite an unsustainable debt burden that requires further action. All in all, it seems we are in a better position than we were a year ago. Yes, that’s coming off a low base but we are in the foundation phase of building economic prosperity in this country. The indicators seem to be turning, however slowly. Now is the time we need Treasury and government to deliver on their promises. 

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BizNews founder Alec Hogg spent the first half of the day in a pre-Budget lockup presser. The anxiety felt by the recently appointed minister of finance when he presented the mini-Budget in November had been replaced by optimism, leading Hogg to pen an excellent article 'Budget 2022: “Relax SA” – amazing how an R182bn windfall can lift the mood.' Afterwards, Nadya Swart interviewed Hogg about his article and the details of the Budget Speech which gave him hope.

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South Africa's finance minister Enoch Godongwana unpacks the country's greatest financial risk, Eskom's unsustainable debt burden.

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South Africa's Finance Minister Enoch Godongwana delivered the 2022 Budget today. Here's what he had to say on the country's bloated public sector wage bill and what he plans to do about it.

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BizNews founder Alec Hogg was in lockup this morning prior to the Budget presentation by Finance Minister Enoch Godongwana. Hogg asked the Minister about Bain and the R182bn overflow.

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Deputy Finance Minister David Masondo says stagnant economic growth, an unreliable power grid, coupled with the high cost of doing business in South Africa, has led to a decline in private investment in the economy. Masondo says that as a part of structural reforms, the government will be seeking to dismantle monopolies, create competition, and ultimately drive productions costs down.

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BizNews tribe member Andrew Goodhead made it to Saaifontein on Tuesday evening where he was met with kindness and chicken pie. Generosity and a humble home were wonderfully evident in this conversation with Andrew. His spirits were high on the eve of the fourth day of his e-bike adventure to BNC3#.

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It has been many years since SA's globally respected sports and nutrition scientist Prof Tim Noakes engaged at any length with a South African journalist. So this interview with BizNews editor Alec Hogg is a rare treat for Noakes's legion of fans, millions of whom credit their improved health to his research into and promotion of the Low Carb High Fat diet, or Banting. Mercilessly attacked in his homeland by the authorities and sectors of the media because he questioned the popular narrative on diet (and Big Pharma), Noakes enjoys huge respect globally, and among the general public. Especially so for his work on using the LCHF diet to counter diabetes, the modern epidemic. This in-depth, highly personal discussion explores what motivated the free-thinking academic turned prodigious author to turn his back on what made him the poster boy for an entire industry - similtaneously abandoning his favoured status with the establishment. Prof Noakes's story is an inspiration for everyone who believes there is always a better way. It also reminds us that popularly held beliefs, often those of which we are most fond, require constant challenging for mankind to continue moving ahead. Because today's conventional wisdom is often tomorrow's misguided ignorance.

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