Podcasts about r1bn

In this episode of the Business Day Spotlight podcast, Business Day deputy editor Tiisetso Motsoeneng is in conversation with CEO of Sasol, Simon Baloyi. The newly appointed CEO is preparing to jack up the amount of money the energy giant spends towards its future, saying R1bn annual spending simply won't cut it in a world increasingly shunning fossil fuels. Business Day Spotlight is a TimesLIVE production. Producer is Demi Buzo.

Kokkie Kooyman – Director, Denker Capital SAfm Market Update - Podcasts and live stream

Monica Lucas – GM at Werkomed and Market Access Committee Member, SA Medical Technology Industry Association SAfm Market Update - Podcasts and live stream

Quiton Zunga – CEO, RH Bophelo SAfm Market Update - Podcasts and live stream

Eskom seeks legal action against Johannesburg's City Power for overdue debt of R1bn, threatening essential infrastructure maintenance and energy demands. City Power disputes overbilling claims, escalating tensions as the case heads to court on June 4. Chris Yelland, energy analyst at EE Business Intelligence analysis this story  See omnystudio.com/listener for privacy information.

CEO Charles Savage enjoys reporting that in February the group posted an all-time one-month deposits record of over R1bn.

A new R1bn venture capital (VC) fund looking to shake up SA tech investment is the focus in this edition of the Business Day Spotlight. Our host Mudiwa Gavaza is joined by Conducive Capital founders Clive Butkow and Mitchan Adams. Topics include: developments in a number of areas such as trends in raising capital; challenges in finding capital; evolution of VC investing; the value of VC to SA's economy; how to grow SA's technology ecosystems; and an outlook for the sector. Business Day Spotlight is a MultimediaLIVE Production. Producer is Demi Buzo.

Laurence Rapp – CEO, Vukile Property Fund SAfm Market Update - Podcasts and live stream

Noluthando Mthonti-Mlambo speaks to to Dr Thomas Funke, CEO of the Canegrowers Association of SA about distributing nearly R176-million in dedicated transformation funding in the sector. The sugar industry has met its objective of investing more than R1-billion in transformation funding over the last five years. The funding has been critical in sustaining the livelihoods of more than 21 000 small-scale growers and their farm workers, as the industry has endured waves of crises over the past five years.See omnystudio.com/listener for privacy information.

ANC secretary-general Fikile Mbalula says the ANC's political opponents are “bewitching” his party. Mbalula was welcoming back to the ANC alleged former EFF members.  He told the crowd they should defend “the people's movement” ... “2024 is our 2024, we are going to defend freedom and we will defeat our enemies”. Mbalula alleged more than R1bn has been raised as part of efforts to defeat the ANC, alleging opponents of the ruling party are on a mission to bribe ANC veterans such as Mavuso Msimang, who recently left the party. “They are forming a lot of political parties to defeat the ANC. They put a lot of money to support this project. Roger Jardine is a project and that project will be defeated,” he said. Former FirstRand Group chairperson Roger Jardine launched his political party, Change Starts Now, on Sunday. Mbalula said their opponents are trying to take the country back and fight social transformation. “People who will defeat the ANC are not yet born. What will defeat the ANC is to allow wrong things to happen in our organisation and we fold our arms. “We'll never be defeated by the EFF, it's very weak. Malema is selling you dreams thinking he'll enter the Union Buildings — never, it won't happen.” Mbalula then repeated promises the ANC has been making for years on youth job creation, water delivery and load-shedding. Despite the promises it seems the party has not yet found the formula for tackling joblessness and rolling power cuts which it had vowed to end by this month.

Can big business really parachute its own candidate into the coming 2024 election and get him elected president? That's the ambition, it seems, behind a bid to find a political home for Roger Jardine as revealed in the Sunday Times last Sunday. There's up to a billion rand to back a new horse but is the circle of possible funder being too picky? “Business needs to cross its own Rubicon,” Freedom Front Plus chief whip Corne Mulder tells Peter Bruce in this gripping edition of Podcasts From the Edge. It needs, he says, to understand the opportunity before it and while putting R1bn into an election. Does all the money get behind Jardine or can all “good” opposition (presumably excluding the EFF) share in it and get behind Jardine when parliament meets to elect a president after the election? Mulder also deals with the need to include the Patriotic Alliance in the Charter before it becomes a “kingmaker” after and wonders whether, just possibly, the Democratic Alliance might be lured into a Grand Coalition with the ANC if the ruling party vote slips below 50%.

This audio is brought to you by Wearcheck, your condition monitoring specialist,. The R1-billion solar project being developed by Chariot Transitional Power and Total Eren in North West province is on track as planned to be completed end 2024. In doing so, it will contribute to Tharisa Minerals' planned reduction of 30% of carbon emissions in 2030, Tharisa investor relations and communications head Ilja Graulich stated in response to Mining Weekly on Friday. Construction of the Buffelspoort Project solar energy facility, which is set to start in the second quarter of 2024, is expected to create jobs for about 200 people, mainly drawn from the local communities. The project will generate up to 40 MW of photovoltaic (PV) electricity to the London- and Johannesburg-listed Tharisa's platinum group metals (PGM) and chrome mine in Rustenburg. The PV project will supply electricity to the South African PGM mine on a minimum 15-year power purchase agreement. "As an Africa-focused developer and an independent power producer, our core mandate is to develop, finance and operate renewable projects in Africa to sell renewable energy to private off-takers," Chariot CEO Benoit Garrivier stated in a release put out by the Department of Trade, Industry and Competition, which highlighted Chariot's momentum towards fulfilling its investment pledge, made at the fifth South African Investment Conference hosted by President Cyril Ramaphosa in Johannesburg in April this year. "South Africa is an important market for Chariot because of its size in Sub-Saharan Africa, the abundance of renewable solar resources, the existence of various strong corporate off-takers and a supportive government. "Various government initiatives over the last few years have made the South African market ideal. "We're delighted to be working on this project, alongside our partner Total Energies, helping to reduce Tharisa's carbon footprint by developing this independent source of power for their mining operations," Garrivier added. Chariot will also supply solar power to 70% Tharisa-owned Karo PGM mine in Zimbabwe at the initial installed capacity of 30 MW, as part of a broader project of 300 MW to be developed over the mine's evolution.

Guest: Jeff Wicks joins John to explain the news released today that nearly two years after Babita Deokaran raised the alarm over suspicious transactions, President Cyril Ramaphosa has given the greenlight to an SIU probe of Tembisa Hospital, and more than R1 billion in payments which flowed from its coffers.See omnystudio.com/listener for privacy information.

Collin Ramukhubathi – Executive Director, Afrimat SAfm Market Update - Podcasts and live stream

Rob Rose,  Editor of Financial Mail and the author of Steinheist shares his four reasons why Steinhoff's former CEO no-show to his trial matters   Clicks interim results - Healthcare retailer forges ahead with R1bn capex plan with Bertina Engelbrecht, CEO at Clicks Group   Peter Fabricius, independent foreign policy analyst & journalist on the meaning of President Ramaphosa being snubbed at the G7 summit   Warren Ingram, Co-Founder of Galileo Capital on Personal Finance - How to build generational wealth. See omnystudio.com/listener for privacy information.

Picking up from where we left off in the previous bonus episode, we have invited professor of sport management at the University of San Francisco, Dr. Michael Goldman to facilitate the most extensive expert analysis of SA Tourism's proposed R1bn sleeve sponsorship deal with Tottenham Hotspur available right now. In this episode, Dr. Goldman discusses the problematic nature of the deal's unplanned announcement following the publication of a prematurely leaked document, the details behind SA Tourism's R1bn sponsorship deal with Tottenham Hotspur, the potential financial and marketing returns of the sponsorship deal, how sport sponsorship deals' ROI are generally measured and the relevant comparison points with Visit Rwanda's deal with Arsenal. Dr. Goldman then concludes with his expert view on how the South African government and SA Tourism could strategically proceed with the proposed deal.  ------------------- ⭐ The best way to support the podcast is to subscribe, share and leave us a 5-star rating on Apple Podcasts or Spotify.

The highly contentious South African Tourism deal with English Premier League football club, Tottenham Hotspur deepens as 3 board members have reportedly resigned. Board members, Enver Duminy, Ravi Nadasen and Rosemary Anderson have tendered their resignation from the board of South African Tourism, effective immediately. Resulting of a difference of opinion, Nadasen and Duminy's resignation and Anderson's resignation were tendered to Tourism Minister Lindiwe Sisulu and South African Tourism Board Chair Dr Aubrey Mhlongo.This as South African Tourism on Thursday defended its proposed three-year sponsorship deal with English Premier League football club Tottenham Hotspur worth nearly R1bn rands. SA Tourism acting CEO Themba Khumalo said the proposed deal is aimed at attracting tourists to boost economic recovery and would yield 88 billion rands in international spending on the local economy. The deal has been severely criticised by several political parties and organisations. President Cyril Ramaphosa has described it as unjustified. Sebenzile Nkambule spoke to Marketing Strategist, Clive Simpkins 

The South African tourism department briefed the media on Thursday after reports emerged of a proposed three-year sponsorship deal with English Premier League football club Tottenham Hotspur worth nearly R1bn. Acting CEO of SA Tourism Themba Khumalo said the proposed deal is aimed at attracting tourists to SA to aid the country's economic recovery. 

Guest: Rebecca Davis joins John to flesh out the news broken by her Daily Maverick article this morning that revealed that the South African government, through its marketing agency SA Tourism, is preparing to ink a deal worth R910,997,814.75 to sponsor one of the English Premier League's best-known teams, Tottenham Hotspur.See omnystudio.com/listener for privacy information.

Mining Weekly Editor Martin Creamer discusses the country's economic/crime paradox that was highlighted at a recent Anglo American meeting; new green hydrogen end-demand pushing platinum into a meaningful deficit; and the development of the R1-billion fuel cell factory which could break ground next year.

A bankable feasibility study has opened the way for the building of a factory for the local manufacture of fuel cells that are designed to provide low-carbon electricity to decentralised users at affordable prices throughout the African continent. Innovative South African Mitochondria Energy Systems, headed by founder and CEO Mashudu Ramano, expects to break ground for the R1-billion development in the first quarter of next year, with the first fuel cells being produced in 2024, with full-scale commercialisation expected in 2028. Established in 2018, Mitochondria is a developer and marketer of hydrogen-based technologies. An area of Emfuleni, which has been earmarked for declaration as a special economic zone (SEZ) by the Department of Trade Industry and Competition (DTIC), is the site of choice for the manufacture of the energy systems, aimed at decentralising electricity generation in the same way as cellphone systems decentralised telecommunications. Funders of the first phase of the project include South Africa's State-owned Industrial Development Corporation (IDC), the Development Bank of Southern Africa (DFSA) and Mitochondria itself, Ramano outlined in an interview with Engineering News & Mining Weekly. Discussion is underway with potential funders of the second phase, a far-reaching R3-billion augmentation project involving the local manufacture of fuel cell stacks. The just energy transition is a major project consideration and much collaboration has also taken place with local communities amid the potential for most of the components required to be locally sourced. In South Africa for the Mitochondria Technology Day were representatives of AVL of Austria and Ceres Power of UK, companies that are partnering Mitochondria in the introduction of what is described as “an affordable, reliable, decentralised and sustainable energy solution for the African continent”. Green hydrogen is seen as the ideal eventual fuel for the multifuel stationary electricity generating fuel cells that form an integral part of simultaneous trigeneration of baseload power, heat and water in fulfilment of ten of the United Nations Sustainable Development Goals. “The more you move towards hydrogen and on-site generation, the more you are able to get better efficiencies in the energy system,” explained Ramano. On the choice of Mitochondria as the company's name, Ramano highlighted that the word mitochondria refers to every cell in the human body having a power generation capacity. “Every time I use the word Mitochondria, I'm calling forth a new energy generation era for the world. This is the prosumer, where you produce and you also consume and so Mitochondria is about the new emerging energy era in the world where there will be so many energy generators, but all networked like the mitochondria in my body, which are generating power right now as I'm speaking to you,” he added. Early on in his study of fuel cells and hydrogen, he visited Japan consecutively to 11 years to understand the fuel cells that were being introduced into homes. Then five years ago, his company decided not to follow the model implemented elsewhere and requested that AVL do a prefeasibility study using the latest technologies that could be competitive with coal in South Africa, which pointed to the need for a decentralised solution as had proved so successful with telephony, which catapulted Africa into the modern era. From a communications perspective. Mitochondria's fuel cells are high temperature fuel cells that make use of steel-based nickel-bearing cerium alloy developed by Ceres in solid-oxide ceramic-based fuel cells that offer 60% efficiency in generating baseload electricity. With heat added, the efficiency is said to exceed 90%. “The core technology we use is like the size of my hand with a hundred thousand holes in it and that is what splits the atom into protons and electrons, and then electrons flow from the cathode to the anode and that's electricity,” Ramano...

EFF leader Julius Malema has made scathing accusations about President Cyril Ramaphosa. Malema claimed Ramaphosa received R1bn from “white people” to be president, and alleged Eskom planned to completely turn off electricity in the country. Malema reiterated that Ramaphosa must vacate office as things “have worsened” under his leadership. The party leader was addressing the crowd at a Heritage Day event in KwaZulu-Natal this past weekend. He said the EFF must rule KZN in 2024.

Siphamandla Mthethwa – CFO, Airports Company South Africa

After enjoying a sustained run recently, steelmaker Arcelor Mittal's share price fell 12.5% on the release of interim results today. CEO Kobus Verster says the pullback was largely because of anticipation among investors that the company's turnaorund would be capped by a return to dividend payments. Verster explains in this in-depth interview that there is still repairing to be done on a balance sheet which was smashed by the Covid lockdowns. Also, with fresh investing opportunities earmarked to achieve independence in power and transport, there are other urgent calls on the company's resources. The good news in the halfyear results to end June, released today, is a continuation of the bottom line turnaround (headline earnings up 22% to R3bn; debt down 61% to R1bn) after huge challenges were overcome at the production level. Verster also shared with Biznews.com's Alec Hogg that the business is highly geared to benefit from any future improvement in the SA economy's rate of growth - something that's becoming real possibility following a probable change in government after the 2024 National Elections. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nomazizi Siphondo – Senior Investment Associate: Umnotho Fund, NEF

After 2 months since the KZN floods, National treasury still has not accessed the R1bn  for disaster relief. Africa speaks to Imtiaz Syed is the Party Leader at Active Citizen Coalition to weigh in on the situation.  See omnystudio.com/listener for privacy information.

Guest: Philani Mavundla/ Deputy Mayor of ETHEKWINI  Ms Ulrike Britton, Chief Director: Urban Development and Infrastructure at National Treasury See omnystudio.com/listener for privacy information.

The R1-billion flood relief government has available to provide relief after April's floods in KwaZulu-Natal and the Eastern Cape still haven't been accessed, Finance Minister Enoch Godongwana told the Joint Ad Hoc Committee on Flood Disaster Relief on Wednesday. National Treasury hasn't received any requests to access these funds. The money is in the form of grants, with specific conditions attached. The national departments needs to request the money from National Treasury. Committee co-chairperson China Dodovu said it is "very unacceptable" that departments have not coordinated at national level. Inkatha Freedom Party MP Mkhuleko Hlengwa said it appears National Treasury isn't accepting any responsibility. "Unfortunately, Mr Hlengwa, I refuse to take any responsibility if people can't submit anything, a document, to us. And we can't accept any responsibility. We can't just dish out money without a document," Godongwana responded. On Wednesday, Deputy President David Mabuza will answer questions about the disaster relief in the National Assembly.

Kaveel Singh- Flood-ravaged KwaZulu-Natal still waiting on R1bn disaster funds by Radio Islam

A month after deadly floods hit KwaZulu-Natal, the provincial government is still locked in talks with the National Treasury on the allocation of disaster funds to the tune of R1-billion. "We are told that R1-billion has been allocated to KZN, we have not yet received that money, but we are working with National Treasury and provincial treasury on the processes that need to be followed so that the money is allocated to relevant sector departments to municipalities," Cogta MEC Sipho Hlomuka said on Wednesday. Hlomuka was briefing the media in Durban about various issues, including budgets for damages and repairs, after the floods. He said provincial departments were also juggling their budgets. "We will be guided by the national government, but I am aware that we need to reprioritise our budget as well to talk to the disaster. All departments affected by this disaster, they need to reprioritise the budget to speak to the disaster." Hlomuka added that some of the worst-affected areas were identified in the western and northern parts of Durban, where water supply is in question. The Tongaat Water Works was destroyed during the flooding, leaving tens of thousands of residents without clean running water. Contaminated river water In addition, there are high E.Coli levels in rivers, raising alarm bells for many rural communities that rely on river water daily. "The infrastructure damages owing to recent torrential rains pose a risk of the contamination of water sources, such as rivers. As restoration of water has progressed in most areas, focus will now be on the protection of water resources to minimise deterioration. "Most water resources (rivers) in the eThekwini District have been found to have a significantly high percentage of water contaminants (mainly E.Coli) due to raw sewer spillages, owing to water treatment works infrastructure damages. "This increases the risk of a potential outbreak of waterborne diseases, like cholera, hepatitis, typhoid fever, etc. We are appealing to communities to exercise extreme caution when dealing with water from rivers." He added that they were attempting to augment the supply of water in the northern parts of the city, with eThekwini having 263 water tankers. Tongaat and Verulam residents have complained that they don't see many water tankers in the areas. According to Hlomuka, more than 400 lives were lost (386 in eThekwini, 31 in iLembe, seven in Ugu, four in King Cetshwayo, three in Harry Gwala, two in uMgungundlovu and two in uMzinyathi); 48 people are still unaccounted for; 77 600 lives were severely disrupted; 7 286 homes were destroyed; 12 062 homes were partially destroyed, There is R25 billion (with assessments still under way) worth of damages to both public and private infrastructure across the province; and Disaster management teams have conducted 748 search operations and more than 168 rescues.

Stefano Marani – CEO, Renergen

In this episode of the BizNews Power Hour, our partners at the FT speak to the head of the world's largest sovereign wealth fund about the longevity of the inflationary cycle; BizNews London correspondent Linda van Tilburg speaks to Springs local Warren Pala about a US company's R1bn bid to have biltong take on jerky; South African Informal Traders' Association is calling on government to halt "vigilante political parties" from stoking xenophobic tensions; Corruption Watch explains that very little has changed in South Africa's anti-corruption efforts since 2012.

There is an American company called Stryve that is selling biltong in the United States and it is determined to grab the market share of jerky, the American equivalent. Stryve is marketing biltong as a healthier meat snack and they have raised nearly R1bn for expansion. The Chief Manufacturing Officer of Stryve is South African-born entrepreneur, Warren Pala. He started making biltong for his company Braaitime in his garage joined forces with Stryve's founders who have also bought another biltong company, Biltong USA. From Oklahoma, Palla told Linda van Tilburg how he leapt from Springs on the East Rand to the US, and how Stryve wants to take control of the American market for dried meat.

CEO of TymeBank Tauriq Keraan unpacks the growth opportunities that will be created as a result of the Chinese conglomerate's investment into the challenger bank. TymeBank, controlled by Patrice Motsephe's investment arm African Rainbow Capital, intends on using the latest funding of $180m (R2.9bn) to invest in growth opportunities in South Africa and internationally. Tencent, along with the CDC Group, has injected more than R1bn into TymeBank to become new shareholders. Keeran is excited to harness the expertise of Tencent, as one of the leading financial technology-driven companies in the world. TymeBank recently launched several exciting partnerships with some of South Africa's most recognised brands, which Keeran expects to bear fruit in the upcoming financial year. 

Deryck Janse van Rensburg of Anchor unpacks Lewis and Tsogo Sun Hotel results. Arrowhead Properties CIO Alon Kirkel talks the company's results and R1bn in asset disposals. Bowmans's David Geral on the legalities around crypto assets in pension funds.

Opportune Investments founder Chris Logan has a closer look at Tongaat's massive R4bn proposed rights issue. The embroiled agri-processing business has a market value of around R1bn, which means it will raise equity capital of up to four times its value. Logan discusses the reasons why Tongaat finds itself in this precarious position, after years of mismanagement and fraud from senior executives. The capital raise, given the size, is likely to be extremely dilutive and at a significant discount to its shares, currently. In early morning trade following the announcement, Tongaat was down close to 50% before paring losses to close 24% lower. The pricing of the rights issue will be of particular interest to Tongaat shareholders, who will be expected to pay up in order to their pro rata share holding in the company. Logan says the rights issue was largely unavoidable, given the operational mishaps and Covid-19 that have caused a troublesome period for the once high-flying business.

Murray Collins, founding director of Collins Residential, talks about the group's latest developments in KwaZulu-Natal and why he remains confident and is continuing to invest in the province despite the recent unrest in July. Podcast series on Moneyweb

Murray Collins, founding director of Collins Residential, talks about the group's latest developments in KwaZulu-Natal and why he remains confident and is continuing to invest in the province despite the recent unrest in July.

In March 2020, some of South Africa's richest families announced they will be donating R1bn each to help people affected by the fallout from the Covid-19 pandemic. It included Johann Rupert, Patrice Motsepe and Nicky Oppenheimer with Mary Oppenheimer and her daughters adding another R1bn. In October 2020, in an interview with BizNews, Jonathan Oppenheimer described the decision to channel the money into a trust, the South African Future Trust, which would support SMMEs as an “aha” moment for the family. He said it took just eight days to set up the trust with money flowing to beneficiaries a week later. The head of the South African Future Trust, Bridget Fury, told BizNews the small businesses they supported have proven to be extraordinarily resilient despite another shock in the form of  the July riots. – Linda van Tilburg

Liberty has topped up on its pandemic reserves by R1bn and this has led the group to report an interim normalised operating loss of R465mn. Alishia Seckam spoke to Liberty CEO David Munro for more insight into how the company is preparing to ride out the Covid​-19 pandemic.

*A yearly analysis of the SA retirement fund industry, shows that retirement fund members suspended their contributions for an average of four-and-a-half months in 2020 because of Covid-related lockdowns. * There is an exodus of senior staff at IT services company Dimension Data, with senior executives leaving the company at the end of the month including co-founder Jeremy Ord. * JSE-listed Omnia will return R1bn to shareholders. *Sotheby's, one of the biggest luxury auction houses in the world, has said it will accept bitcoin and ether in payment for a rare 101-carat diamond.

*A yearly analysis of the SA retirement fund industry, shows that retirement fund members suspended their contributions for an average of four-and-a-half months in 2020 because of Covid-related lockdowns. * There is an exodus of senior staff at IT services company Dimension Data, with senior executives leaving the company at the end of the month including co-founder Jeremy Ord. * JSE-listed Omnia will return R1bn to shareholders. *Sotheby's, one of the biggest luxury auction houses in the world, has said it will accept bitcoin and ether in payment for a rare 101-carat diamond.

Listed insurance company Sanlam recently bought Alexander Forbes' life business (with an insurance premium income of R1bn) for R100m. Sanlam CEO Paul Hanratty joined the BizNews Power Hour to shed some light on the deal, on having close ties with African Rainbow Capital, and the recent string of resignations of Sanlam's top dogs.

Listed insurance company Sanlam recently bought Alexander Forbes' life business (with an insurance premium income of R1bn) for R100m. Sanlam CEO Paul Hanratty joined the BizNews Power Hour to shed some light on the deal, on having close ties with African Rainbow Capital, and the recent string of resignations of Sanlam's top dogs.

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?

Mustaq Brey – CEO, Brimstone Investments

Italtile CEO Jan Potgieter speaks to Jackie Cameron about the company's stronger-than-expected interim performance. While many South African companies buckled under Covid-19 containment, Italtile saw turnover rise by 14% to R6.2bn for its half-year to the end of December. Trading profit surged 38% to R1.4bn. It also has more than R1bn in the bank, with a possibility of a special dividend.

Italtile CEO Jan Potgieter speaks to Jackie Cameron about the company's stronger-than-expected interim performance. While many South African companies buckled under Covid-19 containment, Italtile saw turnover rise by 14% to R6.2bn for its half-year to the end of December. Trading profit surged 38% to R1.4bn. It also has more than R1bn in the bank, with a possibility of a special dividend.

SA's short-term insurers have been in the news for trying to duck out of paying their dues. But there are some exceptions. In this interview, Anton Ossip, CEO of Discovery Insure - which covers about 270,000 cars in SA - explains how it has managed to give back generous rewards to Vitality Drive members and still please shareholders. He explains how an innovative, super-smart app helps drivers save money, how the rewards programme is being rolled out to fleets, and why the insurer has the BHAG of 'creating a nation of great drivers' and making SA roads safer.

SA's short-term insurers have been in the news for trying to duck out of paying their dues. But there are some exceptions. In this interview, Anton Ossip, CEO of Discovery Insure - which covers about 270,000 cars in SA - explains how it has managed to give back generous rewards to Vitality Drive members and still please shareholders. He explains how an innovative, super-smart app helps drivers save money, how the rewards programme is being rolled out to fleets, and why the insurer has the BHAG of 'creating a nation of great drivers' and making SA roads safer.

Michael Sassoon – CEO, Sasfin

BizNews — In today’s news headlines: - Distell sees headline profit fall by 64%; - JSE fines AYO Technologies R6.5m for misleading financial results; - Massmart suffers headline loss of more than R1bn; and - UK bookmaker Betfred offers up to R925m for Phumelela Gaming and Leisure

BizNews — In today’s news headlines: - Distell sees headline profit fall by 64%; - JSE fines AYO Technologies R6.5m for misleading financial results; - Massmart suffers headline loss of more than R1bn; and - UK bookmaker Betfred offers up to R925m for Phumelela Gaming and Leisure

Imperial has lost an estimated R4-billion in revenue and R1-billion in operating profit during the peak lockdown period of March to May, says Imperial CEO Mohammed Akoojee. Despite this, the group still managed to report a 5% increase in continuing revenue for the financial year ended June 30, to R46.4-billion but with continuing operating profit declining by 40%, to R1.5-billion. July and August have, however, seen an improvement in operating conditions, even if the situation has not yet normalised, says Akoojee. Effective from July 1, Imperial operates three business: Market Access, Logistics Africa and Logistics International. Market Access encompasses Imperial’s “Gateway to Africa” strategy, with the group taking ownership of inventory and responsibility for the full order-to-cash function. The Market Access business currently operates across various regions in Africa, with plans to further expand into additional regions, including South Africa and the Middle East. In fact, the business has already signed it first principal in South Africa. Market Access (46% of group operating profit) grew revenue by 18% in the year under review, while operating profit decreased by 1%. Logistics Africa (49% of group operating profit) recorded revenue growth of 3%, but saw a decline in operating profit of 34%. This business experienced a 20% drop in revenue owing to the tobacco and alcohol bans in South Africa, says Akoojee. Logistics International (5% of group operating profit) was most impacted by Covid-19, with revenue declining by 7% and operating profit by 78% in Euro terms. Imperial’s automotive operations was heavily impacted in Europe as this sector went into complete lockdown for a prolonged period of time. Akoojee says Imperial is continuing its transformation from a regional portfolio of businesses to an integrated end-to-end market access and logistics business, with a special focus on being the entry point to Africa. In order to do this, the group has made four new acquisitions in the Market Access and Logistics Africa businesses, mainly in the healthcare and consumer industries, at around R900-million in value. The group has also acquired a Turkish air and sea freight forwarding startup, Mex Logistics, to complement its own clearing and forwarding operations. Akoojee says Turkey has well established trade routes into Africa. Imperial is also looking at expanding into French-speaking Africa, using its well established footprint in West Africa. Imperial has also appointed a group chief digital officer, and used its $20-million venture fund to conclude three investments, namely in a digital distributor, digital freight forwarder and point-of-care diagnostics enabler. Digital initiatives underway include a focus on mobile commerce, deriving more value from existing data, digital freight exchanges, and e-commerce and fulfilment. Akoojee says the initiatives are all to assist Imperial grow in a new-post-Covid-19 world, where it is reshaping itself from being a traditional logistics business. He notes that Imperial has seen 385 staff, from a staff complement of 25 000 people, test positive for Covid-19, with 11 employees passing away.

Business Day TV — Covid-19 has weighed on Imperial's full year performance, costing the group about R4bn in revenue and R1bn in operating profit. Business Day TV unpacked the results in detail with company CEO, Mohammed Akoojee.

BizNews — Santam, South Africa’s largest short-term insurer, has been making headlines in recent months - for all the wrong reasons. Even after a precedent setting and significant court victory between a small Cape Town restaurant and Guardrisk, Santam has not budged on its stance that the lockdown is not covered under its policies. In this podcast, BizNews founder Alec Hogg speaks to Santam CEO Lizé Lambrechts in an effort to try to understand the thoughts behind the insurance heavyweight's decisions. Santam announced at the weekend that it is setting aside R1bn for some of its clients, with the caveat that its bosses continue to believe it is on firm legal footing in repudiating business insurance claims. RMB Attorneys – a legal firm representing over 340 business interruption claimants countrywide - have slammed this relief. - Nadya Swart

BizNews — Santam, South Africa’s largest short-term insurer, has been making headlines in recent months - for all the wrong reasons. Even after a precedent setting and significant court victory between a small Cape Town restaurant and Guardrisk, Santam has not budged on its stance that the lockdown is not covered under its policies. In this podcast, BizNews founder Alec Hogg speaks to Santam CEO Lizé Lambrechts in an effort to try to understand the thoughts behind the insurance heavyweight's decisions. Santam announced at the weekend that it is setting aside R1bn for some of its clients, with the caveat that its bosses continue to believe it is on firm legal footing in repudiating business insurance claims. RMB Attorneys – a legal firm representing over 340 business interruption claimants countrywide - have slammed this relief. - Nadya Swart

In episode 64 of Inside Covid-19, mental health is in focus as the pandemic sends societal stress levels surging - we have some tips on how to know you need help and how to get it; Santam's CEO unpacks the company's R1bn relief package for lockdown affected clients; we'll get insights into why home-bound workers have turned to day trading shares, which now accounts for a stunning 20% of US trading activity; and also from America, companies are now insisting on testing before allowing workers back into the building. - Alec Hogg

Moneyweb Radio — Hennie Nel – CFO, Santam

In episode 64 of Inside Covid-19, mental health is in focus as the pandemic sends societal stress levels surging - we have some tips on how to know you need help and how to get it; Santam's CEO unpacks the company's R1bn relief package for lockdown affected clients; we'll get insights into why home-bound workers have turned to day trading shares, which now accounts for a stunning 20% of US trading activity; and also from America, companies are now insisting on testing before allowing workers back into the building. - Alec Hogg

BizNews — In episode 64 of Inside Covid-19, mental health is in focus as the pandemic sends societal stress levels surging - we have some tips on how to know you need help and how to get it; Santam’s CEO unpacks the company’s R1bn relief package for lockdown affected clients; we’ll get insights into why home-bound workers have turned to day trading shares, which now accounts for a stunning 20% of US trading activity; and also from America, companies are now insisting on testing before allowing workers back into the building. - Alec Hogg

BizNews — In episode 64 of Inside Covid-19, mental health is in focus as the pandemic sends societal stress levels surging - we have some tips on how to know you need help and how to get it; Santam’s CEO unpacks the company’s R1bn relief package for lockdown affected clients; we’ll get insights into why home-bound workers have turned to day trading shares, which now accounts for a stunning 20% of US trading activity; and also from America, companies are now insisting on testing before allowing workers back into the building. - Alec Hogg

BizNews — In today's news headlines: * President Cyril Ramaphosa has warned that job cuts loom at public sector entities. The government is preparing a radical change to the budget to fix an economy battered by Covid-19; * Bond investors worry that borrowing R1bn a day won’t be enough to plug SA’s fiscal deficit - which could be the widest since world war one; * SAA’s business rescue plan is under attack from SA Airlink, a privately owned competitor of SAA, and labour unions; * City Lodge Hotels says it aims to raise up to R1.2 bn via a rights issue to stave off a cash crunch; * A court decision paves the way for the administrators to finalise the sales process for Edcon by the end of June. There are reportedly 15 interested parties; and * Worst performer on the Johannesburg stock exchange at the close of trading was Telkom, which lost about 8% of its value on news it has suspended dividends for three years.

BizNews — In today's news headlines: * President Cyril Ramaphosa has warned that job cuts loom at public sector entities. The government is preparing a radical change to the budget to fix an economy battered by Covid-19; * Bond investors worry that borrowing R1bn a day won’t be enough to plug SA’s fiscal deficit - which could be the widest since world war one; * SAA’s business rescue plan is under attack from SA Airlink, a privately owned competitor of SAA, and labour unions; * City Lodge Hotels says it aims to raise up to R1.2 bn via a rights issue to stave off a cash crunch; * A court decision paves the way for the administrators to finalise the sales process for Edcon by the end of June. There are reportedly 15 interested parties; and * Worst performer on the Johannesburg stock exchange at the close of trading was Telkom, which lost about 8% of its value on news it has suspended dividends for three years.

BizNews — China kicked off a trend of converting iconic sporting venues into makeshift hospitals, starting in Wuhan with the Hongsham Gymnasium where the Covid-19 virus emerged. From the UK to Canada, other countries have followed suit, adding hotels and other buildings to their hospital capacity in preparation for vast numbers of desperately ill people needing help on ventilators and other specialist equipment. Johannesburg's calabash-style Soccer City is set to undergo a similar conversion. In this podcast with BizNews editor-in-chief Alec Hogg, the architects who conceptualised the iconic stadium discuss the details of how they will transform their symbolic architectural masterpiece into a space where 1,500 people will be treated. Architect Bob van Bebber and director Jean Grobler, of the award-winning firm Boogertman Urban Edge & Partners, were part of a team that included medical experts who, as The Star reports, sketched out the details over 72-hours via the Zoom conference app. - Jackie Cameron

BizNews — China kicked off a trend of converting iconic sporting venues into makeshift hospitals, starting in Wuhan with the Hongsham Gymnasium where the Covid-19 virus emerged. From the UK to Canada, other countries have followed suit, adding hotels and other buildings to their hospital capacity in preparation for vast numbers of desperately ill people needing help on ventilators and other specialist equipment. Johannesburg's calabash-style Soccer City is set to undergo a similar conversion. In this podcast with BizNews editor-in-chief Alec Hogg, the architects who conceptualised the iconic stadium discuss the details of how they will transform their symbolic architectural masterpiece into a space where 1,500 people will be treated. Architect Bob van Bebber and director Jean Grobler, of the award-winning firm Boogertman Urban Edge & Partners, were part of a team that included medical experts who, as The Star reports, sketched out the details over 72-hours via the Zoom conference app. - Jackie Cameron

In a selling frenzy that cast a shadow over EOH’s recovery plan, shares in the troubled technology group have slumped by more than three quarters so far this year to levels last seen more than 15 years ago. EOH, which has its stock hovering at levels last seen in 2004, is in the middle of cleaning up its balance sheet following allegations of underhanded dealings with the government, forcing the company into taking billions of rand in writedown charges and losing nearly R1bn, --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Alec Hogg's weekly Rational Radio show: Former SARS spokesman and co-author of the "Rogue: The inside story of SARS's elite crime busting unit." He talks about what happened at SARS, the rolling back of State Capture - and the shadowy antibodies fighting it. Whistleblower Juan Lerena who was sued by former employer Sime Darby after he reported the company and Unilever to the Competition authorities for collusion. He has paid a hefty price for his action. Fasie Malherbe, co-founder of Lobster Ink, which was recently sold to multinational Ecolab for well north of R1bn. He shares his entrepreneurial journey and offers some advice for fellow SA business builders. Whistleblower Cynthia Stimpel, former treasurer at SAA, who was dismissed for standing in the way of a corrupt deal that would have cost the airline R250m. She shares what happened and her journey since July 2016. SA's favourite market commentator David Shapiro takes a closer look at the impact of the electric car revolution and lets us in on what he is thinking about investable opportunities right now. Advocate and legal activist Paul Hoffman of Accountability Now who is petitioning the Legal Practice Council to have Public Protector Busisiwe Mkhwebane de-frocked over this week's scathing ConCourt judgement.  

Johannesburg listed ICT group EOH has been rocked by allegations of bribery, corruption and theft, with its CEO Stephen van Coller saying on Tuesday that an internal probe has revealed that "about eight" people had been involved in a "suspicious transaction" totalling R1.2bn between 2014 and 2017. The once-great Tongaat Hulett is fighting for survival. The KwaZulu-Natal corporate giant wants an interest repayment holiday on R11bn worth of debt and is cutting costs and restructuring, says Bloomberg. Anglo American Platinum is set to dazzle investors when it unveils its financial results on July 22. One of South Africa’s biggest shareholders of South African listed companies, the Government Employees Pension fund, wants to invest more of its R2 trillion under management outside the country. Paypal co-founder Peter Thiel has lashed out at Google for cosying up to the Chinese government, with US President Donald Trump moving quickly to support the billionaire silicon valley entrepreneur.

Super entrepreneur Adrian Gore has plenty on his plate, such is the lot of someone building a disruptive global business. But over the past few months much of his focus has been on the financial services group's new South African bank - a project into which R6bn has already been invested with a further R1bn still required. After a pilot of 1,000 clients, the new bank is now ready to move to the next level. Using the strategy of specific incentives to change behaviour and help its customers help themselves. He was a guest on this week's Rational Radio.

In Washington yesterday, South African Reserve Bank governor Lesetja Kganyago re-iterated the argument for an independent central bank, describing it as a shield against bad political leadership. The chief executive of the world’s biggest asset manager predicts global stock markets are poised for what he calls a “melt-up” as signs of economic health in the US and China encourage investors back into the markets. The share price of embattled tech business EOH yesterday surged on heavy trading volumes as investors gave a thumbs up to its decision to shed R1bn of non-core businesses and investments. The recent strength of South African share prices was evident again yesterday with the overall index gaining more than 1% with buying focus shifting this time to telecoms stocks. 

An 18 month investigation to find a way of addressing the 40% discount between Naspers’s share price and the value of tis underlying assets reached a headline making conclusion today. The Group will hive off its global assets, including the $134bn stake in Tencent, into a new company that will be listed in Amsterdam. The new listing, to be done in the second half of this year, will create the third largest stock by value on Euronext and is set to attract $2bn in fresh investment via global index funds. The deal required approval by the South African Reserve Bank and will generate a R1bn windfall for the country in share transfer tax. In between engagements with investors and the international media (the deal made the front page of the Wall Street Journal and received blanket coverage in the Netherlands), Naspers CEO Bob van Dijk found time to take us through the rationale, explaining why he believes it will unlock masses of trapped value in a stock that has a 25% weighting the South Africa’s SWIX index.   

Moneyweb Radio — The Classic Business Breakfast is the only dedicated morning business show in South Africa. Anchored by experienced broadcasters Natassia Arendse and Arabile Gumede the show ensures that listeners arrive at their office fully briefed on the main business-related issues of the day. They can be heard on Classic FM 102.7 FM between 7 and 8 on weekday mornings. It is also streamed live on Moneyweb.

CliffCentral.com — How much are your unwanted items at home worth? Gareth Armstrong speaks to the CEO of Cash Converters, Richard Mukheibir, during this #MeetTheCEO conversation about bringing an international brand to South Africa, the excitement and uncertainty of the early years, how to let go to maximise growth, and scaring our mothers half to death with seemingly crazy business decisions. Don’t miss this #FutureCEOs conversation.

Intelligent Africa™ — Gareth Armstrong speaks to Richard Mukheibir - CEO of Cash Converters - about bringing an international brand to South Africa, the excitement and uncertainty of the early years, how to "let go to maximise growth", and scaring our mothers half to death with seemingly crazy business decisions. More CEOs →

Intelligent Africa™ — CliffCentral.com — How much are your unwanted items at home worth? Gareth Armstrong speaks to the CEO of Cash Converters, Richard Mukheibir, during this #MeetTheCEO conversation about bringing an international brand to South Africa, the excitement and uncertainty of the early years, how to let go to maximise growth, and scaring our mothers half to death with seemingly crazy business decisions. Don’t miss this #FutureCEOs conversation.

Recently Pick n Pay has been in the headlines with their R1bn credit facilities. We clear up the controversy and analyse retail credit with Daniel Isaacs from 36one Asset Management. Davina Myburgh from TransUnion explains how to best manage and check your personal credit score. In our Buffalo Index this week your R100 will get you a strong basket full of groceries. wits.journalism.co.za

Wits Radio Academy — Recently Pick n Pay has been in the headlines with their R1bn credit facilities. We clear up the controversy and analyse retail credit with Daniel Isaacs from 36one Asset Management. Davina Myburgh from TransUnion explains how to best manage and check your personal credit score. In our Buffalo Index this week your R100 will get you a strong basket full of groceries.

It's 20 years since David Shapiro was my first gu…

JOHANNESBURG — The City of Cape Town has just man…

On TalkCentral this week, Duncan McLeod and Regardt van der Berg chat about Internet Solutions' reported discussions to acquire Dark Fibre Africa. Also this week, Naspers to pump almost R1bn into Takealot, a big restructuring looming at Datatec, Hetzner is peering at NAPAfrica and ... Star Trek's Tricorder is almost a reality! Regardt's pick this week in Snapseed, while Duncan has chosen History Timeline for Android. Tune into the podcast to find out who the winner and loser of the week are. Podcast website

TechCentral — On TalkCentral this week, Duncan McLeod and Regardt van der Berg chat about Internet Solutions' reported discussions to acquire Dark Fibre Africa. Also this week, Naspers to pump almost R1bn into Takealot, a big restructuring looming at Datatec, Hetzner is peering at NAPAfrica and ... Star Trek's Tricorder is almost a reality! Regardt's pick this week in Snapseed, while Duncan has chosen History Timeline for Android. Tune into the podcast to find out who the winner and loser of the week are.

Simon Shares Woolies (JSE code: WHL) offering script of cash for dividend. Default is cash, I'm taking new shares. Standard Bank (JSE code: SBK) trading update looks great, HEPS some 30% higher. But what of the R1,6bn write down for lost aluminium in China the previous year? The stock initially popped 8% higher but traded red by late morning. Budget 2016, Simon's thoughts Budget is R1.46tn vs R1.45tn in the October MTBPS. Deficit R139bn, which we have to borrow and that cost is increasing as R186 government bond is 9.8% from 9.3%. Budget deficit will fall from 3.2% in the 2016/2017 year to 2.4% in 2018/2019 Capital Gains Tax (CGT) gets increased from 33.3% or marginal rate to 40% while the amount of tax free CGT every year goes from R30k to R40k. No change to Dividend Withholding Tax (DWT) or Securities Transfer Tax (STT). Lots of small tax increases and some new ones; Increased; fuel levy, bag levy, sin taxes, transfer duty on +R10m properties, etc. New; sugar tax, globe tax and tyre tax. Social grants on the up, R11.5bn over next three years. Fiscal drag coupled with increased inflation and interest rates going to hurt consumers. 150,000 TFSA accounts opened and R1bn deposited. But no changes to the limits. Was it enough taxing and enough slashing to avoid a downgrade later this year? Bottom line, can he stop the junk status looming over SA? We Get Mail Marcia Are you selling your Woolies after the results? Stef I see the PLD and PLT ETFs have 'partial delisting'. What's this about? Should I worry if I hold them? JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Several major institutions dominate this week: Confusion reigns at Eskom over its leadership, Athletics South Africa confronts charges of corruption as the Board and CEO are purged, and the SABC backtracks on a R1bn deal.