BizNews Radio

The horse racing industry in South Africa recently celebrated a victory when the Public Protector report of Busisiwe Mkhwebane, which ordered wide-ranging changes to the horse racing industry, was set aside by the North Gauteng High Court. Mkhwebane’s report, which was released in 2019, recommended that the Gauteng Gambling Board cease payment to Phumelela of a 3% levy on winnings from horse racing bets taken by fixed-odds operators in the province. To discuss the setting aside of the report, BizNews founder Alec Hogg spoke to the former CEO of Phumelela, Rian du Plessis, who stated that the implementation of this recommendation cost Phumelela around R80mn per year and ‘pretty much hastened its demise.’

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In this episode of the BizNews Power Hour, Alec Hogg is joined by David Shapiro as co-host; Helen Zille on ConCourt's ruling on election date; 4AX CEO Eugene Booysen on the launch of the Cape Town Stock Exchange; Bernard Mostert provides an update on the Steinhoff settlement and the BizNews Team.

In this episode of the BizNews Power Hour, Alec Hogg is joined by David Shapiro as co-host; Helen Zille on ConCourt's ruling on election date; 4AX CEO Eugene Booysen on the launch of the Cape Town Stock Exchange; Bernard Mostert provides an update on the Steinhoff settlement and the BizNews Team.

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As is customary for a Monday, David Shapiro shares his pearls of wisdom on all things topical in the investment world, with the veteran analyst having recently returned from a month-long trip to the US. David emphasises the need for all South African's to think out-the-box and encourage critical thinking, as he experienced in America. He also mentions the importance of financial literacy, a fundamental skill which is sorely missing in South Africa. The controversial topic of mandatory vaccination, which Adrian Gore's Discovery is now forcing upon employees, was also spoken to at length.

As is customary for a Monday, David Shapiro shares his pearls of wisdom on all things topical in the investment world, with the veteran analyst having recently returned from a month-long trip to the US. David emphasises the need for all South African's to think out-the-box and encourage critical thinking, as he experienced in America. He also mentions the importance of financial literacy, a fundamental skill which is sorely missing in South Africa. The controversial topic of mandatory vaccination, which Adrian Gore's Discovery is now forcing upon employees, was also spoken to at length.

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News headlines:

*President Cyril Ramaphosa has moved to prepare the ANC for anticipated criticism in the Zondo Commission report – to be published in October – and ‘to engage with and prepare ourselves for implementation of the recommendations’.

*South African consumer confidence ticked up in the third quarter as the reintroduction of temporary welfare measures and a public-sector wage deal countered the adverse impacts of deadly riots, looting and arson that disrupted supply chains and put thousands of jobs at risk.

*The Constitutional Court has ruled that South Africa’s 2021 elections will go ahead on schedule and should be held no later than 1 November 2021.

News headlines:

*President Cyril Ramaphosa has moved to prepare the ANC for anticipated criticism in the Zondo Commission report – to be published in October – and ‘to engage with and prepare ourselves for implementation of the recommendations’.

*South African consumer confidence ticked up in the third quarter as the reintroduction of temporary welfare measures and a public-sector wage deal countered the adverse impacts of deadly riots, looting and arson that disrupted supply chains and put thousands of jobs at risk.

*The Constitutional Court has ruled that South Africa’s 2021 elections will go ahead on schedule and should be held no later than 1 November 2021.

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10x founder Steven Nathan joined the BizNews team to discuss an array of financial results as reporting season draws to a close. JSE heavyweights Aspen, Impala Platinum and Discovery results were all on the agenda, with the medical insurer turned conglomerate the hardest hit after announcing plans to raise R1.5bn in order to increase its stake in Chinese insurer Ping An. Other topical investment and political related discussion centred around the withdrawal of the green paper for the state pension plan and whether Nathan favours investing in businesses that are founder-led.

10x founder Steven Nathan joined the BizNews team to discuss an array of financial results as reporting season draws to a close. JSE heavyweights Aspen, Impala Platinum and Discovery results were all on the agenda, with the medical insurer turned conglomerate the hardest hit after announcing plans to raise R1.5bn in order to increase its stake in Chinese insurer Ping An. Other topical investment and political related discussion centred around the withdrawal of the green paper for the state pension plan and whether Nathan favours investing in businesses that are founder-led.

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In our second conversation, Dirk explains the inns and outs of Libstar, a company that is increasingly making waves in the private label and branded fast moving consumer goods space in SA.