BizNews Radio

We live an era where science and facts are being questioned but if there is one issue that we probably all agree on is that plastic pollution is a problem, and that we urgently need to do something about it. In Hout Bay, the Seal Rescue Centre has to deal with the heart-breaking consequences of marine plastic debris and it is in this coastal suburb of Cape Town that a local resident and entrepreneur, Regine le Roux has come up with an initiative to repurpose plastic bags and help with the local unemployment problem. With a group of local ladies, she started Re.Bag.Re.Use and they are taking bread bags and crocheting them into durable hand and beach bags. Le Roux told Linda van Tilburg about her plans to expand the scheme to other areas of the country and the rest of the continent.

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With the volatility in the US markets, we could probably all afford to snap up shares even with our measly currency. But how do you get money offshore quickly and safely? We put that question and so many more to a man who spends much of his day perfecting the transition of our cash into other currencies. Arno van Helden, co-founder and Head of Shyft at Standard Bank guides us through the process to make sure we know exactly what we are doing if we want to play in the markets across the pond.

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In this roundtable discussion with Adv Erin Richards and Bain whistle-blower Athol Williams, the actions of Bain's lawyers Baker McKenzie are in question. Did the global legal heavyweight justifiably shield its client from scrutiny, or criminal prosecution, by invoking legal privilege? All this while also being tasked with "independently" and “transparently” investigating Bain's conduct at the South African Revenue Service? The report from Baker McKenzie's investigation has never seen the light of day despite promises by Bain to the contrary, and Williams' best efforts. Michael Appel's guests discuss the limits of legal privilege arising from this scenario.

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In mid-2020, Arcelor Mittal SA was on the ropes, with critics predicting it was only a matter of weeks before the long-time loss-making company hit the wall. But in little over 18 months the world has changed for AMSA. Laregely due to CEO Kobus Verster's turnaround strategy, which has paid off handsomely. Now the trimmed-down group is repositioning itself as the "champion" of South Africa's industrial backbone. In this in-depth podcast Verster shares the back story to the JSE's great turnaround stock of the modern era with BizNews editor Alec Hogg - and considers what lies ahead.

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*Shoprite founder and one of South Africa’s most revered businessmen, Christo Wiese, has won back billionaire status (in dollar terms). The increase in Wiese’s wealth has been driven largely by his investment in the food retail business he started, Shoprite, which has become the country’s standout retail performer. Wiese’s 10.67% stake in Shoprite, the second largest shareholder behind the Public Investment Corporation, is valued at R14bn ($910m). When you include his other investment vehicles and family interests, it drives his effective economic stake closer to 12%, making him a billionaire in dollar terms, a feat that has evaded him since Steinhoff collapsed in the latter end of 2017. 

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Nestled in the Crags on the sunny south coast of South Africa, Ingwe Estate offers exclusive secluded, off the grid living in a haven of secure wilderness. BizNews founder Alec Hogg chats to Inex Developments director Morgan Morris for more on the Southern Cape project.

In this episode of the BizNews Power Hour, editor Alec Hogg speaks to Brenthurst Wealth Management founder Magnus Heystek about his warning that "the easy money" has been made. Heystek shares what he has personally been doing recently - converting Rand into hard currency to invest in beaten down US stocks. In this explainer piece, Michael Appel dissects state capture at Denel. Linda van Tilburg in London spoke to the acting chief engineer on the MDA Sat constellation project, Nyameko Royi. South Africa took an important step forward this year in space science when the Cape Peninsula University of Technology launched three nanosatellites.

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In today's headlines:

*President Cyril Ramaphosa’s cabinet has extended South Africa’s national state of disaster, but says that work is now being done to bring it to a close next month.

*President Cyril Ramaphosa told Parliament's finance watchdog, the Standing Committee on Public Accounts (Scopa) that he relied on public information when he claimed the ANC abused state funds for party activities.

*Retail holding company Steinhoff claims that emails show that former chief executive officer, Marcus Jooste, was part of a ‘fraudulent scheme’. 

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State arms manufacturer Denel went from a financial position of hundreds of millions in profit, a mere seven years ago, to technically insolvent today. It can't pay staff and its electricity was recently disconnected by the Tshwane municipality for being R2.4m in arrears. What helped push this state-owned entity to the brink of collapse was the capturing of its board in 2015 by the Gupta enterprise, assisted to an extraordinary degree by former Public Enterprises Minister Malusi Gigaba and his successor Lynne Brown. Michael Appel provides a digestible summary of part II of Zondo's second report.

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While warning that "the easy money" has been made, independent financial advisor Magnus Heystek shares what he has personally been doing recently - converting Rand into hard currency to invest in beaten down US stocks. In this fascinating podcast with BizNews founder Alec Hogg, he also revisits his property journey, explaining how lessons from mistakes that cost him big at his now famous Hartebeespoortdam disaster helped him make excellent returns in other carefully selected areas. While Heystek is still keen on some property developments in SA, he warns that returns are likely to be modest - and incomparable to the fortunes made during the 2002 to 2008 boom.

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