BizNews Radio

Standard Bank’s Richard Hirsch explains the implications of the Aveng 500:1 share consolidation that took place on the JSE today. Aveng was trading between 5c and 6c on the local bourse but after the consolidation, has settled around the R27.30 level, which would have previously been a share price of around 5.5c prior to the consolidation. The fundamentals of the business have not changed, the shares in issue have reduced significantly. If you owned 500 Aveng shares at either 5c or 6c, you would now own one share at the current share price of R27.30. The market value of the business hasn’t changed, simply the shares in issue. Many brokerages did not account for this correctly and your portfolio may have rocketed up incorrectly.

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In this episode of the BizNews Power Hour Magnus Heystek explains what two big developments of the past 24 hours mean for investors - Govt's Parliamentary defeat on its Constitutional changing proposal and its batting away of the mandatory vaccine suggestion from Big Business; Richard Hirsch runs us through the Aveng 500-for-1 consolidation which took effect today; plus in-depth interviews with Sakeliga's Piet le Roux and Russell Lamberti; and NEASA's Gerhard Papenfus on how independent businesses are viewing vaccine mandates - and EWC.

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News headlines:

*The ANC’s bid to change the Constitution to make room for the expropriation of land without compensation has failed.

*The debate around mandatory vaccinations is polarising citizens and businesses alike, with a growing number of people, groups and organisations voicing their support or opposition to the policies.

*Investors and energy experts are worried about Eskom’s use of its ageing fleets, saying they’re being run into the ground.

Investment analyst and director of Brenthurst Wealth Management, Magnus Heystek, joined BizNews founder Alec Hogg to discuss a number of subjects that may affect your finances. While not directly related to what happens to our money now, the recent decisions surrounding land expropriation and mandatory vaccines are significant in shaping the future of South Africa. Heystek pulls no punches, calling land expropriation a “stupid idea that undermines [investor] confidence abroad and internally”.

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10X founder Steven Nathan shares his rational opinion on several social and investment matters in the limelight. Mandatory vaccination, which many of the large South African corporations are implementing, is discussed. Nathan outlines that countries with relatively higher vaccination rates have seen a bigger uptick in economic growth than those with lower vaccination rates. He talks about the risks facing markets at the moment: lofty asset prices, inflation and the Omicron variant. Tencent’s investment into South African challenger bank TymeBank rounds off the conversation. 

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Ranmore Fund Management founder Sean Peche shared his 10 market surprises for 2022, inspired by chairman of the Blackstone Advisory Group, Byron Wien. Peche believes the big tech will experience pain, as he expects Covid-19 will fade into irrelevance with life reverting to more normalised standards. He also anticipates value stocks to outperform growth stocks, with the latter dominating for the better part of a decade. 

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CEO of TymeBank Tauriq Keraan unpacks the growth opportunities that will be created as a result of the Chinese conglomerate’s investment into the challenger bank. TymeBank, controlled by Patrice Motsephe’s investment arm African Rainbow Capital, intends on using the latest funding of $180m (R2.9bn) to invest in growth opportunities in South Africa and internationally. Tencent, along with the CDC Group, has injected more than R1bn into TymeBank to become new shareholders. Keeran is excited to harness the expertise of Tencent, as one of the leading financial technology-driven companies in the world. TymeBank recently launched several exciting partnerships with some of South Africa’s most recognised brands, which Keeran expects to bear fruit in the upcoming financial year. 

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Currency expert Andre Cilliers looks at the Rand and a number of other currencies performance relative to the US dollar in 2021.

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In this episode of the BizNews Power Hour, Sean Peche takes a pick for the BizNews share shootout; 10X founder Steven Nathan weighs in on how markets may react to MTN's mandatory vaccine stance; Tyme Bank CEO Tauriq Keraan details Tencent's investment into the bank; also a good samaritan Melanie Nel starts a foundation to raise funds for an elderly ice-cream man.

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News headlines:

*Investigations into the irregular R150m Digital Vibes contract have so far yielded little results as only R12m has been repaid by those who benefitted illegally.

*As many travel restrictions remain in place, president Cyril Ramaphosa has again slammed the ‘global north’s’ attitude towards southern African countries, saying that the calls he received after the bans were condescending and disrespectful.

*Parliament will decide on Tuesday whether or not the Constitution should be amended to allow for land expropriation without compensation.