BizNews Radio

According to the latest estimate by Rand Merchant Bank, 23,000 people leave South Africa each year but that figure is probably a lot higher as many leavers do not become part of official statistics. The push factors are well-known in South Africa; crime, corruption and rolling blackouts, but the violence in July last year and self-reflection during the Covid restriction has led to another wave of South Africans leaving the country for good. Andrew Rissik, the International Director for Sable International warns that South Africans should ensure that their decisions about cross-border investments or moves are not be clouded by emotion. He told BizNews that about the pitfalls of cross-border investment decisions. 

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News headlines:

*A panel of experts says that president Cyril Ramaphosa has effectively failed to control the ANC and the party’s mechanisms which enable corruption.

*President Ramaphosa will deliver his latest State of the Nation Address tonight at 19h00. 

*The Judicial Service Commission (JSC) has sent President Cyril Ramaphosa its report in which it recommends that Supreme Court of Appeals head Mandisa Maya be appointed chief justice.

*An analysis of rates paid in major metros in South Africa shows that the City of Johannesburg carries the highest cost for an entry-level household.

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Brenthurst Wealth Management founder Magnus Heystek tells the sad tale that is the South African property collapse. The investment strategist – who has successfully called thematic trends in the global capital markets for the better part of the last decade – tells a sombre story of his own property investment mistake. Heystek outlines the risks inherent in private property investment, which have increased over the years owing to increased taxes, levies, friction and selling costs. Bar the obvious risks, opportunity cost and liquidity are also two major contributing factors to his thesis. The R900,000 he invested in 2008 would be worth around R10m if he had invested in the tech-focused Nasdaq at the time. He realised a mere R360,000 after all selling costs had been deducted, when he recently managed to find a buyer for the property. Property investment has long been seen as a safe haven investment, but Magnus believes that until things fundamentally change in South Africa, this is no longer the case.

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BizNews tribe member Andrew Goodhead is travelling to the upcoming BizNews Conference in the Drakensberg by riding all the way from Cape Town on his solar powered e-bike. BizNews founder Alec Hogg caught up with Goodhead to find out more about this adventure.

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On this episode of the BizNews Power Hour, Editor Alec Hogg has an in-depth interview with the President of ActionSA Herman Mashaba following news the former DA Federal Chair Athol Trollip has joined their ranks; Brenthurst Wealth Management’s Magus Heystek discusses the terrible slump the property market has found itself in for over a decade; Michael Appel has a summary of the week's interesting stories; our partner the FT has your latest international business report.

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In this podcast, ActionSA founder and leader Herman Mashaba explains why the attraction of former DA heavyweight Athol Trollip is such a coup for his party. The news created a stir in the Eastern Cape where the popular Trollip will lead ActionSA's 2024 election charge. Mashaba also addresses apparent ructions within the young party, including the fracas over its KZN leader Makhosi Khosa; and unpacks his strategy in Gauteng where the coalition's governance of Ekurhuleni and Johannesburg is looking increasingly fragile.

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In this episode of the BizNews Power Hour, Michael Appel sits down with Adv. Erin Richards to discuss what informed her latest op-ed piece detailing tainted consultancy firm Bain's mingling in potential arms procurement matters; BizNews loyalist Andrew Goodhead chats to Alec Hogg about his remarkable decision to arrive at the upcoming BizNews Conference via a 1500km cycling journey from Cape Town; our partner's the FT have a fascinating discussion about exploring the possibility of a 4-day workweek.

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News headlines:

*Politics and economics are set to collide over welfare payments in the world’s most unequal nation. 

*The Pretoria Society of Advocates is calling for the removal of advocate Dali Mpofu from the Judicial Service Commission. 

*Former DA mayor in Nelson Mandela Bay, Athol Trollip, has joined ActionSA and wants to grow the political party's presence in the Eastern Cape ahead of the 2024 national elections.

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Adv Erin Richards dissects what inferences can be drawn from a bizarre chain of emails Bain's SA partner Vittoria Massone wrote to Italian arms manufacturer Beretta in September 2015. It details Bain's involvement in preparations for a meeting between then Police Minister Nathi Nhleko, Hawks head Berning Ntlemeza, a host of Italian police officials, Interpol, and Beretta executives. Whether or not the meeting took place is unclear but it begs the question why the tainted consultancy firm was operating in the shadows on what appears to have been planned procurement talks.

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News headlines:

*President Cyril Ramaphosa faces high expectations for the State of the Nation Address this week, with demands rolling in from different sectors of society.

*The report into the July 2021 riots has painted a bleak picture of post-Zuma South Africa, directed by lawlessness and disregard for order and authority.

*Harvard economists have outlined how South Africa’s economy has performed poorly relative to its peers over the last decade, failing to recover growth following the 2008 global financial crisis.