Classic Business

The market marked private education provider Curro’s full year results as class leading. 2020 was a year of de-risking with R1.5bn rights issue, paydown of R1bn of debt and the dividend suspended as well as reduced capex (-35% for 2020). Planning R1.1bn in 2021.

As expected, some parents had a hard time in making school fee payments offered discounts and had a R146m increase in credit loss provision (48% of gross receivables at year-end) R58m. R185m of their receivables is a year old.

Michael Avery sat down with CEO Andries Greylingh, a man who has his fingers on the pulse of education to talk about whether parents can still afford private education in the lower end in the current environment?

Shirley Machaba, CEO for PwC Southern Africa, and Lullu Krugel, Chief Economist for PwC Africa

The president recently reaffirmed South Africa’s commitment to net carbon zero by 2050 in his state of the nation address.

Biomaterials, and bioplastics specifically, offer a potential decarbonisation option for the petrochemicals value chain. South Africa relies heavily on coal as an input into chemicals production and bio-based bioplastics have room to substitute for traditional plastics.

BUT, the market for bioplastics in South Africa is currently limited and market demand has yet to materialise substantially. While a number of efforts are present to develop the supply side of the market, it appears that policy interventions are necessary to stimulate demand for sustainable plastics. TIPS recently conducted a study into the subject of stimulating demand for bioplastics in South Africa.

Michael Avery spoke to Muhammed Patel an Economist at TIPS; Jenitha Badul, Senior Manager/Policy Advisor for Sustainability Programmes and Projects, at the Department of Environment, Forestry and Fisheries and Ozunimi Iti, project manager in the Environment Department of the United Nations Industrial Development Organization (UNIDO), about whether the carrot or stock works best.

Wayne McCurrie, portfolio manager, FNB Wealth and Investments

Martin Harris, premium client manager at IG SA

Gordon Angus, Executive Director, SAEFA

Theodore Petrus, Associate professor in anthropology at the University of the Free State

Darlene Menzies, Founder and Chief Innovation Officer at Finfind

Tumi Sefolo, Executive Direct Lending Small Enterpise Finance Agency (SEFA)

Muzi Mhlambi, Senior Manager The Banking Association South Africa (BASA)

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Kantha Naicker, Chairman The South African Institute of Professional Accountants (SAIPA)

Lester Davids, Investment Strategist Unum Capital

CEO Professor Thabo Legwaila

Rob Towell, portfolio managers at Sasfin Securities

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Henry Biddlecombe, Portfolio Manager Anchor Securities