BizNews Radio

News headlines:

* The UK has finally agreed to remove SA from its controversial red travel list. The changes, which are expected to be announced on Thursday, will mean travellers would no longer be expected to quarantine in a hotel at their own expense.

* Trading in shares of China's debt-laden property group Evergrande was suspended on the Hong Kong Stock Exchange today after it missed a key bond interest payment last week - its second offshore debt obligation in a week.

* Multinational chemical producer UPL faces a criminal probe after it illegally stored hazardous chemicals in a warehouse in Durban that was looted and set ablaze during South Africa's social unrest in July.

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Phil Craig of the Cape Independence Advocacy Group joins BizNews founder Alec Hogg to discuss some big news in the political sphere. Craig recently told BizNews that the group had handed over a referendum request on Cape Independence. While the DA has said it does not support the idea of Cape Independence, it is open to the referendum itself. Craig discusses meeting with numerous political parties on the topic. "We asked them two questions - do they support Cape Independence? Regardless of whether they support it or not, are they willing to allow the people of the Western Cape...to determine whether they want independence."

Phil Craig of the Cape Independence Advocacy Group joins BizNews founder Alec Hogg to discuss some big news in the political sphere. Craig recently told BizNews that the group had handed over a referendum request on Cape Independence. While the DA has said it does not support the idea of Cape Independence, it is open to the referendum itself. Craig discusses meeting with numerous political parties on the topic. "We asked them two questions - do they support Cape Independence? Regardless of whether they support it or not, are they willing to allow the people of the Western Cape...to determine whether they want independence."

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Capitec CEO Gerrie Fourie discusses the bank's financial results amongst other things as the JSE darling reports bumper earnings. Fourie explains that although earnings can not comparable to 2020, due to the onset of the coronavirus pandemic and ensuing lockdowns, but have increased by 35% since 2019. That equates to a 16% compounded earnings growth rate over the period. Lastly, the Viceroy saga is well and truly behind Capitec as the FSCA slapped the short-seller with a R50m fine for making ‘false, misleading and deceptive statements’ about Capitec in 2018, which led to a 23% drawdown in its share price.

Capitec CEO Gerrie Fourie discusses the bank's financial results amongst other things as the JSE darling reports bumper earnings. Fourie explains that although earnings can not comparable to 2020, due to the onset of the coronavirus pandemic and ensuing lockdowns, but have increased by 35% since 2019. That equates to a 16% compounded earnings growth rate over the period. Lastly, the Viceroy saga is well and truly behind Capitec as the FSCA slapped the short-seller with a R50m fine for making ‘false, misleading and deceptive statements’ about Capitec in 2018, which led to a 23% drawdown in its share price.

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South Africa was placed on the UK’s red list in December - a status which has been severely destructive to the South African economy. South Africa's UK red list placement requires tourists from the UK to quarantine for ten days at their own expense in government-selected hotels when they return. The exorbitant costs related to this quarantine requirement effectively halts the income that the country receives by virtue of travel between South Africa and the UK. According to a study conducted by the World Travel & Tourism Council (WTTC), the restrictions imposed by way of the dreaded red list could lead to losses that equate to more than R26m every single day. In mid-September, the UK revised its red list. South Africa was not one of the eight countries that were removed - despite the fact that three of those countries (Sri Lanka, Maldives and Turkey) have higher and rising rates of infection in comparison to South Africa. South African anti-apartheid activist Lord Peter Hain spoke to BizNews founder Alec Hogg about the nonsensical nature of our country's continued red list placement, a status which he believes 'has no justification in science.' Hain wrote a letter to UK Prime Minister Boris Johnson to protest against the UK government's failure to remove South Africa from the red list. Hain raises several excellent points in the letter - all of which highlight that the country's continued red list status is both unjustified and illogical.

South Africa was placed on the UK’s red list in December - a status which has been severely destructive to the South African economy. South Africa's UK red list placement requires tourists from the UK to quarantine for ten days at their own expense in government-selected hotels when they return. The exorbitant costs related to this quarantine requirement effectively halts the income that the country receives by virtue of travel between South Africa and the UK. According to a study conducted by the World Travel & Tourism Council (WTTC), the restrictions imposed by way of the dreaded red list could lead to losses that equate to more than R26m every single day. In mid-September, the UK revised its red list. South Africa was not one of the eight countries that were removed - despite the fact that three of those countries (Sri Lanka, Maldives and Turkey) have higher and rising rates of infection in comparison to South Africa. South African anti-apartheid activist Lord Peter Hain spoke to BizNews founder Alec Hogg about the nonsensical nature of our country's continued red list placement, a status which he believes 'has no justification in science.' Hain wrote a letter to UK Prime Minister Boris Johnson to protest against the UK government's failure to remove South Africa from the red list. Hain raises several excellent points in the letter - all of which highlight that the country's continued red list status is both unjustified and illogical.

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On the show this week Charl Botha speaks to David Lerche - head of equities at Sanlam Private Wealth - on the business and investment merits of Mondi, one of South Africa's best corporate exports.

On the show this week Charl Botha speaks to David Lerche - head of equities at Sanlam Private Wealth - on the business and investment merits of Mondi, one of South Africa's best corporate exports.

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In this episode of the BizNews Power Hour, Stuart Lowman is joined by Jean-Pierre Verster with investment insights; Capitec CEO Gerrie Fourie on results; PPC CEO Roland Van Wijnen on group's restructuring and refinancing project; Counterpoint's Piet Viljoen; Ramtsilo Bricks's Kedibone Tsiloane on eco bricks company and the BizNews Team.