BizNews Radio

In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Magnus Heystek; Kasinomic's GG Alcock on unemployment stats versus the local economy; the launch of Altron Fintech's Household Financial Resilience Index with Dr Roelof Botha; why mandatory vaccination is in the public interest with Keymanthri Moodley and the BizNews Power Hour team.

In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Magnus Heystek; Kasinomic's GG Alcock on unemployment stats versus the local economy; the launch of Altron Fintech's Household Financial Resilience Index with Dr Roelof Botha; why mandatory vaccination is in the public interest with Keymanthri Moodley and the BizNews Power Hour team.

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News headlines:

*South Africa’s government unveiled a master plan aimed at harnessing a R28bn cannabis industry that could potentially create as many as 25,000 jobs and help attract foreign investment.

*South Africa’s economy is 11% bigger than previously estimated, after statistics authorities changed the way they calculate gross domestic product.

*National Treasury has submitted the Second Special Appropriation Bill to parliament, seeking to unlock R32.9bn in extra funding.

News headlines:

*South Africa’s government unveiled a master plan aimed at harnessing a R28bn cannabis industry that could potentially create as many as 25,000 jobs and help attract foreign investment.

*South Africa’s economy is 11% bigger than previously estimated, after statistics authorities changed the way they calculate gross domestic product.

*National Treasury has submitted the Second Special Appropriation Bill to parliament, seeking to unlock R32.9bn in extra funding.

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Dr Roelof Botha is the economic advisor to the Optimum Investment Group and the brains behind the Altron Fintech Household Financial Resilience Index. Dr Botha joined BizNews contributor Bronwyn Nielsen to discuss the index, the purpose of which is to assess the state of micro-lending in South Africa from the perspective of the ability of borrowers to repay their loans. ”If one looks at micro financing in South Africa, if you can extend access to finance to relatively poor households - who have some source of revenue - then it stands to reason that you can expedite expenditure and productivity. Many of these Altron Fintech customers actually use these loans for working capital, to buy welding rods and fuel for the bakkie, so that they can get out to site and build houses. It plays an invaluable role,” says Roelof.

Dr Roelof Botha is the economic advisor to the Optimum Investment Group and the brains behind the Altron Fintech Household Financial Resilience Index. Dr Botha joined BizNews contributor Bronwyn Nielsen to discuss the index, the purpose of which is to assess the state of micro-lending in South Africa from the perspective of the ability of borrowers to repay their loans. ”If one looks at micro financing in South Africa, if you can extend access to finance to relatively poor households - who have some source of revenue - then it stands to reason that you can expedite expenditure and productivity. Many of these Altron Fintech customers actually use these loans for working capital, to buy welding rods and fuel for the bakkie, so that they can get out to site and build houses. It plays an invaluable role,” says Roelof.

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Hard-hitting Magnus Heystek joins BizNews founder Alec Hogg to talk about the hidden agendas that plague the investment industry. Magnus has been adamant on having offshore exposure for the better part of the last decade for two reasons, firstly because diversification is the only free lunch you're afforded in investing and secondly because of the unsteady macroeconomic backdrop within South Africa. He's called it perfectly. Unfortunately, some of the large institutions and investment houses in South Africa are plagued with conflicts of interest. As a result, clients suffer. Magnus emphasises the importance of doing due diligence before investing, even if it costs a few thousand rand.

Hard-hitting Magnus Heystek joins BizNews founder Alec Hogg to talk about the hidden agendas that plague the investment industry. Magnus has been adamant on having offshore exposure for the better part of the last decade for two reasons, firstly because diversification is the only free lunch you're afforded in investing and secondly because of the unsteady macroeconomic backdrop within South Africa. He's called it perfectly. Unfortunately, some of the large institutions and investment houses in South Africa are plagued with conflicts of interest. As a result, clients suffer. Magnus emphasises the importance of doing due diligence before investing, even if it costs a few thousand rand.

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10X founder Steven Nathan joins Alec Hogg to talk on a number of topical political and investment matters. The unemployment rate, which rose by 1.8% to 34.4%, surged to the highest on a global list of 82 countries monitored by Bloomberg. The expanded definition, which includes discouraged workers, rose to a staggering 44.4%. Nathan outlines the dire need for the ruling party to implement reforms in order to overturn this crisis. The Naspers and Prosus share buybacks, which have eroded more than R20bn in shareholder value, was also one of the main talking points - with Nathan stating that buybacks are often a corporate action fraught with conflicts of interests for a number of reasons. Lastly, the sad situation taking place in Afghanistan is discussed.

10X founder Steven Nathan joins Alec Hogg to talk on a number of topical political and investment matters. The unemployment rate, which rose by 1.8% to 34.4%, surged to the highest on a global list of 82 countries monitored by Bloomberg. The expanded definition, which includes discouraged workers, rose to a staggering 44.4%. Nathan outlines the dire need for the ruling party to implement reforms in order to overturn this crisis. The Naspers and Prosus share buybacks, which have eroded more than R20bn in shareholder value, was also one of the main talking points - with Nathan stating that buybacks are often a corporate action fraught with conflicts of interests for a number of reasons. Lastly, the sad situation taking place in Afghanistan is discussed.

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