BizNews Radio

There is an American company called Stryve that is selling biltong in the United States and it is determined to grab the market share of jerky, the American equivalent. Stryve is marketing biltong as a healthier meat snack and they have raised nearly R1bn for expansion. The Chief Manufacturing Officer of Stryve is South African-born entrepreneur, Warren Pala. He started making biltong for his company Braaitime in his garage joined forces with Stryve’s founders who have also bought another biltong company, Biltong USA. From Oklahoma, Palla told Linda van Tilburg how he leapt from Springs on the East Rand to the US, and how Stryve wants to take control of the American market for dried meat.

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This episode of the BizNews Power Hour brings you an extended interview with full-time adventurer Peter van Kets. The East London local gives insight into what makes him tick and the key to achieving a well-lived life. Our partners, the FT, provide the latest on the US Federal Reserve Chairperson Jerome Powell's tough-talking stance on inflation. Magnus Heystek mulls over the recent downturn in the market and elaborates on potentially pivoting from investing in the US, to Europe, Japan, and even emerging markets.

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The hard-hitting Magnus Heystek unpacks what has been a tough start to the year for the financial markets. Heystek, who has been bullish on technology-focused businesses –specifically in the US – for the better part of a decade, says he and his team are mulling over a change in strategy. It’s been all about the US stock markets, but a paradigm shift in the markets, together with economic policy, may favour investment returns in different destinations in the 10 years to follow. Europe and parts of Asia look especially encouraging, according to Heystek, who adds that the commodity boom has been a saving grace for the South African economy and treasury. 

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News headlines:

*A presidential advisory panel has warned against a basic income grant for South Africa, telling president Cyril Ramaphosa that the grant would be incredibly risky and detrimental to the country’s economy.

*While the CCMA has made a favourable ruling on the first case of an employee fired for refusing to vaccinate, conflict resolution experts and legal advisors have warned companies to tread carefully.

*Police minister Bheki Cele says that his department is fighting a losing battle trying to keep unregistered firearms out of the hands of criminals.

Counterpoint value fund manager Piet Viljoen unpacks the reasoning behind inflation widening global wealth inequality. Primarily owing to economic policy and supply side issues, inflation has been driven to its highest levels in decades, leaving the poor helpless. The rich can shield themselves by investing in assets that will perform well during inflationary periods, such as oil and gas companies. However, the poor spend all their income on basic necessities, leaving them very exposed to price increases. JSE favourites Sasol and PPC are discussed from an investment perspective, with Viljoen optimistic about both counters’ prospects.  

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Mining guru Peter Major looks at the controversy behind Sibanye-Stillwater’s $1bn nickel and copper mine acquisition in Brazil. On Monday, Sibanye announced the deal would be terminated on the grounds that a “geotechnical event” occurred at the Santa Rita mine that would materially affect operations. However, the seller – private equity mining house Appian Capital Advisory – has come out and said there is no legal basis for Sibanye to terminate the deal as the incident wasn’t a materially adverse effect and occurs in the normal course of open-pit mines. Did renowned deal-maker and Sibanye CEO Neal Froneman get cold feet? The nickel price has remained robust since the deal was announced three months ago, so Peter Major believes it has more to do with another attractive acquisition target than valuation on an existing deal.

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In this episode of the BizNews Power Hour, our partners at the FT in London explain what's going on at Google regarding its decision to overhaul its online tracking tools. Anthony Sedgwick speaks to us about Indian food delivery giant Swiggy's valuation that's doubled in the last six months. Businessman Jonathan Oppenheimer talks about investing in the future of Africa, and opens up about his late wife Jennifer. National Treasury Director General Dondo Mogajane gives greater detail about the terms and conditions of the latest R11.4bn World Bank loan.

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News headlines:

*The Standing Committee on Public Accounts (Scopa) is conducting its own probe into public fund misappropriation allegations against the ANC, which surfaced in a leaked audio recording, even though the matter has already been referred to the Public Protector.

*Legal experts warn that the National Prosecuting Authority does not have the capacity to deal with all the PPE corruption cases coming its way, given that it is already struggling with the caseload related to state capture.

*Civil action group Outa has initiated contempt of court proceedings against roads agency Sanral and its former CEO.

In this thoughtful and moving interview, the scion of South Africa's storied Oppenheimers opens up about his late wife Jennifer; generational investments into Africa's future; and incentivising scientists to find solutions to the continent's challenges. It opens a rare window into an iconic family which is most comfortable operating out of the spotlight. Jonathan Oppenheimer shares a passion first articulated by his great grandfather Sir Ernest three quarters of a century ago - to do business in a way that makes a positive impact in the lives of Southern Africans.

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South Africa's government has a putrid record of spending money wisely. Dr Lumkile Mondi from the Wits School of Economics and Finance is cautiously optimistic the R11.4bn World Bank loan will be prudently allocated, but warns the vultures must be kept at bay if the loan is to have any impact.

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