BizNews Radio

In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Magnus Heystek; Cape Independence Party bid for Independent State - Jack Miller; FNB CEO Jacques Cilliers on brain drain in SA; CEO of the A2X Kevin Brady discusses record volumes on the JSE and the BizNews Power Hour team.

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Chief executive of South Africa's challenger exchange, the A2X,  Kevin Brady joins the BizNews team on a day where trading has been suspended for more than five hours on the JSE. Yesterday's record volumes, where over R140bn was traded mainly as a result of the rebalancing taking place in the wake of the Naspers/Prosus share swap, was the reason for the significant delay. Kevin highlights this as one of the key reasons for the need for competition in the South African market, in order to avoid events like these being the catatrasophe it has turned out to be. Kevin blames the delay on the BDA systems in use at the local bourse, which were written more than 30 years ago. JSE aside, Kevin talks about the growth prospects and runway ahead for the A2X.

Chief executive of South Africa's challenger exchange, the A2X,  Kevin Brady joins the BizNews team on a day where trading has been suspended for more than five hours on the JSE. Yesterday's record volumes, where over R140bn was traded mainly as a result of the rebalancing taking place in the wake of the Naspers/Prosus share swap, was the reason for the significant delay. Kevin highlights this as one of the key reasons for the need for competition in the South African market, in order to avoid events like these being the catatrasophe it has turned out to be. Kevin blames the delay on the BDA systems in use at the local bourse, which were written more than 30 years ago. JSE aside, Kevin talks about the growth prospects and runway ahead for the A2X.

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News headlines:

*Eskom is considering buying a fleet of electrically powered light delivery vehicles, according to its CEO Andre de Ruyter.

*National Treasury says it is working through the nuts and bolts of the planned policy changes to allow the early withdrawal of retirement savings.

*The ANC runs the risk of failing to register its candidates to contest this year’s municipal elections by the August 23 IEC deadline, as staff refuse to work overtime and at weekends due to outstanding salaries and other benefits.

News headlines:

*Eskom is considering buying a fleet of electrically powered light delivery vehicles, according to its CEO Andre de Ruyter.

*National Treasury says it is working through the nuts and bolts of the planned policy changes to allow the early withdrawal of retirement savings.

*The ANC runs the risk of failing to register its candidates to contest this year’s municipal elections by the August 23 IEC deadline, as staff refuse to work overtime and at weekends due to outstanding salaries and other benefits.

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Recently, Phil Craig of the Cape Independence Advocacy Group spoke to BizNews about the growing support behind the independence movement. While it remains a hot topic, research has found that 58% of people at least want a referendum on Cape independence. Speaking to Alec Hogg, Craig said "46.2% of registered voters in the Western Cape now want Cape independence outright." Craig also noted that most people in the Western Cape are not aware of how bad things are in the rest of the country. However, the recent riots and civil unrest that rocked KZN and parts of Gauteng has opened their eyes to where South Africa may be heading. Echoing this sentiment is Jack Miller, the founder of the Cape Independence Party. Founded in 2007, the political party was started from a "complete and utter disillusionment with the country." Miller told the BizNews Power Hour that "the Cape has been largely insulated to a lot of the destruction seen in other parts of South Africa. I think that it's now becoming blindly obvious to everyone living in the Cape that there is no future for South Africa."

Recently, Phil Craig of the Cape Independence Advocacy Group spoke to BizNews about the growing support behind the independence movement. While it remains a hot topic, research has found that 58% of people at least want a referendum on Cape independence. Speaking to Alec Hogg, Craig said "46.2% of registered voters in the Western Cape now want Cape independence outright." Craig also noted that most people in the Western Cape are not aware of how bad things are in the rest of the country. However, the recent riots and civil unrest that rocked KZN and parts of Gauteng has opened their eyes to where South Africa may be heading. Echoing this sentiment is Jack Miller, the founder of the Cape Independence Party. Founded in 2007, the political party was started from a "complete and utter disillusionment with the country." Miller told the BizNews Power Hour that "the Cape has been largely insulated to a lot of the destruction seen in other parts of South Africa. I think that it's now becoming blindly obvious to everyone living in the Cape that there is no future for South Africa."

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In an impressive landslide victory, opposition leader Hakainde Hichilema finally overtook incumbent Edgar Lungu in Zambia's presidential election, reports Reuters. This is also the "third time that power has shifted peacefully from a ruling party to the opposition since the southern African country's independence from Britain in 1964". According to the report, celebrations will be short-lived as Hichilema - a former CEO at an accounting firm before entering politics - now faces the task of "trying to revive Zambia's fortunes". John Steenhuisen of the Democratic Alliance joins BizNews founder Alec Hogg to give his view of the election result. Like former DA member Herman Mashaba, he feels it could be a positive omen for South Africa's own political future. "We're really excited about what his victory means, not only for his country, but I think for other opposition parties on the continent."

In an impressive landslide victory, opposition leader Hakainde Hichilema finally overtook incumbent Edgar Lungu in Zambia's presidential election, reports Reuters. This is also the "third time that power has shifted peacefully from a ruling party to the opposition since the southern African country's independence from Britain in 1964". According to the report, celebrations will be short-lived as Hichilema - a former CEO at an accounting firm before entering politics - now faces the task of "trying to revive Zambia's fortunes". John Steenhuisen of the Democratic Alliance joins BizNews founder Alec Hogg to give his view of the election result. Like former DA member Herman Mashaba, he feels it could be a positive omen for South Africa's own political future. "We're really excited about what his victory means, not only for his country, but I think for other opposition parties on the continent."

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Against all odds, Zambian opposition leader Hakainde Hichilema won the national election in Zambia in a landslide victory against incumbent President Edgar Lungu. Hichilema, known as HH, failed to win the presidency on five previous attempts. Zambia became Africa’s first pandemic-era sovereign defaulter in November when it stopped paying interest on its Eurobonds and other loans. Hichilema’s surprise victory by almost 1 million votes with nearly 60% support is a clear sign that Zambia’s citizens are in desperate need of change and prosperity - promises which secured Hichilema’s ultimate rise to power. In light of this victory, BizNews founder Alec Hogg caught up with ActionSA founder Herman Mashaba - an underdog that many South Africans hope might be this country’s saving grace. Regarding President Ramaphosa’s recent cabinet reshuffle Mashaba called a spade a spade saying that, ‘he's demonstrated beyond any reasonable doubt that his preference and his agenda is the unity of the ANC ahead of South Africans. He's demonstrated [this] with the recycling of his cabinet after the insurrection.’