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* South Africa wants a free 20% stake in oil and gas exploration and production ventures under a new upstream petroleum bill, which allows the minister to reserve petroleum blocks for Black investors, a copy of the bill seen by Reuters showed on Friday.

* White people were given preferential treatment for evacuation in a March air rescue when Mozambique's Palma town was raided by Islamic State-linked fighters, rights group Amnesty International alleged.

* The ANC tax scandal is a far bigger deal than has been reported so far, says Democratic Alliance leader John Steehuisen.

* Rio Tinto Group’s South African operation is facing the loss of a large bloc of Black investors, a move that would leave it below the legal minimum for Black ownership, two people familiar with the situation told Bloomberg.

* Sasol Ltd. agreed to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa for as much as 5.1 billion rand ($361 million) in order to pay down debt, says Bloomberg.

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Chris Wheeler, the Chief Executive of PostNet, joined the BizNews Power Hour to discuss the South African Post Office and the Independent Communications Authority of South Africa’s move to get a monopoly on the delivery of all parcels of under one kilogram.

Chris Wheeler, the Chief Executive of PostNet, joined the BizNews Power Hour to discuss the South African Post Office and the Independent Communications Authority of South Africa’s move to get a monopoly on the delivery of all parcels of under one kilogram.

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In 2016, Steinhoff bought Tekkie Town from founder Braam Van Huyssteen for R3.2bn – paying with Steinhoff shares which imploded the following year. This week, Tekkie Town’s former owners launched an urgent application for the liquidation of the disgraced retailer. Bernard Mostert, the former Chief Executive of Tekkie Town, joined the BizNews Power Hour to chat to BizNews founder Alec Hogg about this recent development. Mostert, who maintains that both he and Van Huyssteen ‘judge the act, not the man’, stated that Tekkie Town ‘is marching towards its day in court’. 

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In 2016, Steinhoff bought Tekkie Town from founder Braam Van Huyssteen for R3.2bn – paying with Steinhoff shares which imploded the following year. This week, Tekkie Town’s former owners launched an urgent application for the liquidation of the disgraced retailer. Bernard Mostert, the former Chief Executive of Tekkie Town, joined the BizNews Power Hour to chat to BizNews founder Alec Hogg about this recent development. Mostert, who maintains that both he and Van Huyssteen ‘judge the act, not the man’, stated that Tekkie Town ‘is marching towards its day in court’.

South African business icon Brian Joffe was the flagship guest for last night’s BizNews Power Hour, with the Bidvest founder upbeat about the prospects of his latest venture – Long4Life. The investment holding company has some great assets with household names such as Sportsmans Warehouse, Fitch & Leedes and Sorbet. Given the perennial investment holding problem - a large discount to net asset value - Long4Life has outsourced Investec Corporate Finance to extract value via corporate action. This could see Long4Life unbundle one of its crown jewels or even delist from the local bourse. No matter what scenario plays out, shareholders can sleep easy knowing Mr Joffe will be making the final call.

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South African business icon Brian Joffe was the flagship guest for last night’s BizNews Power Hour, with the Bidvest founder upbeat about the prospects of his latest venture – Long4Life. The investment holding company has some great assets with household names such as Sportsmans Warehouse, Fitch & Leedes and Sorbet. Given the perennial investment holding problem - a large discount to net asset value - Long4Life has outsourced Investec Corporate Finance to extract value via corporate action. This could see Long4Life unbundle one of its crown jewels or even delist from the local bourse. No matter what scenario plays out, shareholders can sleep easy knowing Mr Joffe will be making the final call.

In hierdie potgooi het ek met bekende mark kommentator Schalk Louw oor die Rand gesels. Hy argumenteer dat ons nie die positiewe effekte van die huidige kommoditeitssiklus op ons wisselkoers moet onderskat nie. Hy raai ons ook aan om nie emosionele besluite te maak rakende ons wisselkoers exposure as gevolg van die huidige politike retoriek in Suid Afrika nie. Schalk is eienaar en besturende direkteur van PSG Old Oak in die Kaap.

In hierdie potgooi het ek met bekende mark kommentator Schalk Louw oor die Rand gesels. Hy argumenteer dat ons nie die positiewe effekte van die huidige kommoditeitssiklus op ons wisselkoers moet onderskat nie. Hy raai ons ook aan om nie emosionele besluite te maak rakende ons wisselkoers exposure as gevolg van die huidige politike retoriek in Suid Afrika nie. Schalk is eienaar en besturende direkteur van PSG Old Oak in die Kaap.

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In this episode of the BizNews Power Hour, Alec Hogg is joined by co-host Jean-Pierre Verster as co-host, Brian Joffe on Long 4 Life results and prospects going forward, Tekkie Town co-founder Bernard Mostert on their dispute with Steinhoff, PostNet CEO Chris Wheeler on the battle with SAPO and the courier industry, and the BizNews team.

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