BizNews Radio

Brenthurst Wealth Management founder Magnus Heystek doesn't mince his words on a good day, let alone on another day of suffering for South Africa. Magnus has been advising diversification and offshore investment for more than a decade with many local fund manager's in disagreement despite his investment thesis proving correct. This time of crisis is of serious concern and offshore diversification has never been a more prudent strategy with many of the world's largest banks downgrading the Rand over the course of the week.

In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Magnus Heystek; GG Alcock on the effects of looting on the informal economy; Nedbank's chief executive Mike Brown on employing a hybrid work model; Melanie Veness of PMCB on the need for a State of Emergency in the area, and the BizNews Power Hour Team.

In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Magnus Heystek; GG Alcock on the effects of looting on the informal economy; Nedbank's chief executive Mike Brown on employing a hybrid work model; Melanie Veness of PMCB on the need for a State of Emergency in the area, and the BizNews Power Hour Team.

Learn more about your ad choices. Visit megaphone.fm/adchoices

News headlines:

*South African taxi drivers, private security companies and ordinary civilians are stepping up to protect their businesses and communities following days of rioting and looting that the authorities have failed to quell.

*South Africans are expected to face major food shortages in the wake of the violent unrest, as rioters upend supply chains by looting supermarkets and torching goods trucks.

*In response to the civil unrest, changes have been made to South Africa's Adjusted Alert Level 4 lockdown regulations, allowing for community gatherings hosted by politicians, councillors, religious and traditional leaders "to deal with emergency matters".

Learn more about your ad choices. Visit megaphone.fm/adchoices

News headlines:

*South African taxi drivers, private security companies and ordinary civilians are stepping up to protect their businesses and communities following days of rioting and looting that the authorities have failed to quell.

*South Africans are expected to face major food shortages in the wake of the violent unrest, as rioters upend supply chains by looting supermarkets and torching goods trucks.

*In response to the civil unrest, changes have been made to South Africa's Adjusted Alert Level 4 lockdown regulations, allowing for community gatherings hosted by politicians, councillors, religious and traditional leaders "to deal with emergency matters".

Third World Child GG Alcock uniquely straddles the First And Third Worlds courtesy of being brought up in a mud hut by political activist parents in the dirt-poor Msinga district in rural KZN. His unique insight into the unrest currently raging in South Africa is therefore unparalleled. Alcock believes that what’s happened in parts of South Africa over the last few days is a reflection of divides in our country, not between races, but between the haves and the have nots. While many theories that the uproar was planned have been floated, Alcock argues that - while the spark that lit the unrest may have been planned - the fire was completely unplanned. Alcock has been on the community-banded frontlines in and around Diepsloot since Monday. It is precisely this ‘standing up for themselves’ that Alcock believes ‘is one of the strengths that is going to be the future of our country.’ Fascinating as always.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Third World Child GG Alcock uniquely straddles the First And Third Worlds courtesy of being brought up in a mud hut by political activist parents in the dirt-poor Msinga district in rural KZN. His unique insight into the unrest currently raging in South Africa is therefore unparalleled. Alcock believes that what’s happened in parts of South Africa over the last few days is a reflection of divides in our country, not between races, but between the haves and the have nots. While many theories that the uproar was planned have been floated, Alcock argues that - while the spark that lit the unrest may have been planned - the fire was completely unplanned. Alcock has been on the community-banded frontlines in and around Diepsloot since Monday. It is precisely this ‘standing up for themselves’ that Alcock believes ‘is one of the strengths that is going to be the future of our country.’ Fascinating as always.

The chaos continues in KwaZulu-Natal. Now, major food shortages are expected to affect the entire country as grocery stores are looted, petrol dries up, and highways are barred. Melanie Veness, chief executive of the Pietermaritzburg Chamber of Business, paints a grim picture of what's happening on the ground. She believes that only by declaring a state of emergency can we hope to gain control of a dire situation. "People are saying, is the army so well camouflaged here that we can't see them? To deploy 2,500 people to the hot spots in South Africa to try and quell this is just ludicrous. We need a show of force on the ground that is going to ensure that we can get our economy back on track."

Learn more about your ad choices. Visit megaphone.fm/adchoices

The chaos continues in KwaZulu-Natal. Now, major food shortages are expected to affect the entire country as grocery stores are looted, petrol dries up, and highways are barred. Melanie Veness, chief executive of the Pietermaritzburg Chamber of Business, paints a grim picture of what's happening on the ground. She believes that only by declaring a state of emergency can we hope to gain control of a dire situation. "People are saying, is the army so well camouflaged here that we can't see them? To deploy 2,500 people to the hot spots in South Africa to try and quell this is just ludicrous. We need a show of force on the ground that is going to ensure that we can get our economy back on track."

Nedbank's chief executive was the flagship guest for today's BizNews Power Hour, with the veteran banking executive providing us with his rational perspective on the widespread looting and vandalisation that has caused devastation in KZN and parts of Gauteng. Brown also elaborated on the hybrid work model Nedbank is employing going forward. He says that the pandemic has accelerated this shift and it fits into Nedbank's digital journey. Fascinating insights on all accounts.

Learn more about your ad choices. Visit megaphone.fm/adchoices