The Monocle Banking Podcast

South Africa’s risk landscape has changed - but has insurance kept pace?

Michael Avery spoke to Cedric Masondo, CEO of PSG Insure, about the mounting pressures on South Africa’s insurance sector, from increasingly severe weather events to deteriorating municipal infrastructure. They unpacked how insurers are adapting the way they assess and price risk, the growing protection gap, and emerging threats such as AI-driven fraud.

South Africa's venture capital ecosystem has quietly come of age. The question is: who's paying attention? Michael Avery was joined by Alison Collier, MD of Endeavor South Africa; Antonia Bothner, Capital Markets Lead at Endeavor South Africa; Lumka Mlambo, Fund Principal at the SA SME Fund; and Anusha Naidu, CEO of SAVCA, to explore why South Africa's venture capital market is gaining global credibility. The conversation unpacked the country's growing track record of successful exits, the unique market conditions driving innovation, and why local startups are increasingly attracting international acquirers.

Can finance help solve South Africa's housing crisis? Michael Avery was joined by Alessandro Scalco, Sustainable Finance Transactor at RMB, to explore how innovative funding models are unlocking affordable rental housing while expanding access to finance for underserved property entrepreneurs.

The conversation unpacked RMB's partnership with property fintech Indlu, the power of blended finance and data-driven lending, and why sustainable finance is creating new opportunities for both investors and communities.

Johannesburg is at a crossroads - and its future could shape South Africa's economic outlook. Michael Avery was joined by Roy Havemann, who heads the Impumelelo Economic Growth Lab at the Bureau for Economic Research at Stellenbosch University, and Nomvuyo Guma, author of the Lab's latest urban-risk briefing on Johannesburg, to unpack the city's growing challenges.

The conversation explored the impact of deteriorating infrastructure, financial pressure and political instability, why Johannesburg remains too important to fail, and what it will take to restore confidence and drive long-term growth.

To examine one of South Africa's most contentious economic policy debates - the effectiveness of Broad-Based Black Economic Empowerment (B-BBEE) - Michael Avery is joined by Dr. Daan Steenkamp, CEO of Codera Analytics, and Donald Mackay, Director at XA Global Trade Advisors.

Drawing on new research into the costs and outcomes of B-BBEE compliance, the discussion explores whether the policy is achieving its intended objectives of transformation or creating unintended consequences for investment, employment and economic growth. They unpack the distinction between transformation as a national imperative and B-BBEE as a policy tool, while considering what the data reveals about South Africa's current approach and the need for evidence-based policy reform.

To explore the journey of building one of South Africa's leading university-focused investment platforms Michael Avery was joined by Wayne Stocks, Managing Partner at Stocks & Strauss. Their conversation unpacked the challenges and opportunities of commercialising academic research, the structural barriers facing South Africa's venture capital ecosystem, and what it takes to turn breakthrough innovation into globally scalable businesses. 

What does it take for a business to reinvent itself after facing repeated setbacks? Michael Avery sat down with Jorge Mendes, the CEO of Cell C, to unpack the company's remarkable transformation and its vision for a new era of telecommunications in South Africa.

The conversation explored how Cell C has reimagined its operating model, embraced strategic partnerships and built a leaner, more agile business designed for long-term sustainability. They also discussed the importance of disciplined execution and the evolving role of collaboration in the telecoms sector.

Artificial intelligence is reshaping industries, markets, and societies - but what does it reveal about us?

Michael Avery sat down with Nic Andrew, Managing Director at Nedgroup Investments, to explore the intersection of AI, human behaviour, and decision-making. Their conversation unpacked how AI is influencing investment strategies, transforming the future of work, and reshaping traditional approaches to learning and career development. They also examined the growing importance of trust, governance, and critical thinking as AI becomes increasingly embedded in everyday life.

What does it take to build a world-class agricultural export industry from the heart of the Karoo?

This week Michael Avery was joined by David Muller, CEO of Prieska Pistachio Company, to explore how a once-abandoned pistachio farming venture is being transformed into a premium South African success story. Their conversation unpacked the persistence required to overcome complex farming challenges, and why South African farmers continue to compete on the global stage through innovation and resilience.

David also shared insights into the growing global demand for pistachios, South Africa's unique competitive advantages in the sector, and what it takes to attract the patient capital needed to build a world-class agricultural venture.

For a thought-provoking conversation unpacking South Africa’s 2026 Tax Freedom Day, Michael Avery was joined by Dr Richard Grant, Professor of Finance & Economics at Cumberland University and Senior Consultant for the Free Market Foundation.

The discussion explored the relationship between taxation, government spending, and economic growth in South Africa, while examining how policy choices, public investment, and trust in institutions shape the country’s long-term fiscal and economic future. The conversation also considered what conditions are needed to support productivity, expand opportunity, and create sustainable growth.