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Premier of the Western Cape, Alan Winde, joins John Maytham to discuss the province’s reaction to Finance Minister Enoch Godongwana’s National Budget. With a proposed VAT increase and a R60 billion budget shortfall, Winde shares his concerns about the impact on businesses, households, and service delivery in the Western Cape.See omnystudio.com/listener for privacy information.
John Maytham is joined by DA leader John Steenhuisen to unpack the party’s firm opposition to Finance Minister Enoch Godongwana’s latest budget. The discussion delves into the controversial VAT increase, the R60 billion budget shortfall, and the alternative solutions the DA is proposing to avoid placing further strain on South Africans. Steenhuisen outlines his party’s stance within the Government of National Unity (GNU) and explains why the DA refuses to support the budget in its current form.See omnystudio.com/listener for privacy information.
Stephen Grootes and Dr. Azar Jammine, Director and Chief Economist at Econometrix to discuss whether state pensions should be used to fill the R60 billion budget gap, a proposal put forward by Cosatu, and explores the potential implications of this move on South Africa's economy. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape. Thank you for listening to The Money Show podcast. Listen live - The Money Show with Stephen Grootes is broadcast weekdays between 18:00 and 20:00 (SA Time) on 702 and CapeTalk. There’s more from the Money Show on Primediaplus.com Subscribe to the Money Show daily and weekly newsletters The Money Show is brought to you by Absa. Follow us here 702 on Facebook: www.facebook.com/TalkRadio702 702 on TikTok: www.tiktok.com/@talkradio 702 on Instagram: www.instagram.com/talkradio702 702 on X: www.x.com/Radio702 702 on YouTube: www.youtube.com/@radio702 CapeTalk on Facebook: www.facebook.com/CapeTalk CapeTalk on TikTok: www.tiktok.com/@capetalk CapeTalk on Instagram: www.instagram.com/capetalkza CapeTalk on YouTube: www.youtube.com/@CapeTalk567 CapeTalk on X: www.x.com/CapeTalk See omnystudio.com/listener for privacy information.
Stephen Grootes discusses with Matthew Parks whether state pensions should be used to fill the R60 billion budget gap, a proposal put forward by Cosatu, and explores the potential implications of this move on South Africa's economy.See omnystudio.com/listener for privacy information.
Willard Batteries and Good Morning Angels assisted Octovia by providing the funds needed for her Hospitality Studies at Mpumalanga University. The Willard Bursary Fund will assist Octovia with R60,000 towards her tuition fees for Hospitality Studies at Mpumalanga University. The Good Morning Angels Fund will assist Octovia with R58,000 towards her Hospitality Studies at Mpumalanga University.
‘What we have in our portfolio is R102 billion worth of projects, for which government is contributing R37 billion, and then we'll be attracting north of R60 billion from the private sector': Mohale Rakgate, chief investment officer, Infrastructure Fund.
From a bold startup to a billion-rand giant, Easy Equities celebrates a decade of democratizing investing. With over a million active clients and R60 billion in assets, Charles Savage, CEO of Purple Group, reflects on triumphs, challenges, and the vision to reshape wealth creation.
This audio is brought to you by Wearcheck, your condition monitoring specialist. Emerging copper producer Copper 360 has shipped copper concentrate from South Africa's Northern Cape province for the first time in 21 years. South Africa's only listed pure copper producer, which delivered record concentrate grades during plant commissioning, is performing way ahead of expectation as a producer of copper concentrate, as well as being the Northern Cape's only producer of copper cathode. "We salute the tenacity and spirit of the people of Namaqualand who support us tremendously and the drive and passion of our team," said Copper 360 CEO Jan Nelson, who spoke to Mining Weekly in a Zoom interview. (Also watch attached Creamer Media video.) The company is building up from a very low base to one that will be generating over R100-million in monthly revenue. Nama Copper, the first concentrate plant of this Johannesburg Stock Exchange's AltX-listed company, has generated a profit within six weeks. The second concentrate plant, the MPF 1 plant, is on track to come on line in two months. Two months ago, Copper 360's solvent extraction and electrowinning (SX/EW ) broke even. Meanwhile, achieving 30%-plus grade during commissioning is regarded as remarkable during the five weeks of commissioning, when 70 t of concentrate was the outcome - 76% more than the targeted 40 t. Based on this performance, the plant is forecast to produce more than 1 000 t of concentrate a month within three months, two months ahead of planned production. The target capacity of the second concentrate plant, which is due to start production at the end of July, is 1 400 concentrate tonnes a month. In addition, the copper-cathode producing SX/EW, which delivered a record performance in March by producing 60 t of pure copper metal, is on track to ramp up to 100 t of copper a month within the next quarter. Mining Weekly: Could this be the far-reaching start of a crucial new copper era for South Africa's Northern Cape, which is so prospective for base metals so crucial to a world that is electrifying at a fast pace? Nelson: Absolutely. This was one of the biggest copper districts during the 1940s to the 1980s. You had Newmont and Gold Fields mining here. There were shafts sunk 2 000 m deep and a lot of these mines are still open with large orebodies. I certainly think that with this production initiating, this area will definitely be the revival of South Africa as a major copper player. Is Copper 360's 30%-plus concentrate grade delivery likely to be sustained? Absolutely. Our test work showed initially that the copper concentrate grades were between 40% and 50%, which is extremely high. On average, companies produce at about 24%. For us to achieve 30% concentrate grades during commissioning is phenomenal because you have quite a lot of problems during commissioning. You don't have consistent feed, your plant is still building up. To have that from the get-go is just fantastic and shows us that 40% to 50% in the future will be easily achievable. How did Copper 360 manage to exceed its planned copper concentrate production target by a whopping 76%. Buying a plant that was ready to go obviously played a big role, but it's also due to the fantastic team that we have on the ground. Our people have really put in a considerable effort. We've appointed a new plant manager, as announced, and we have a new operation manager in place, but it's just exceptional teamwork that pulled out all the stops. What are the new expectations, now, for your recently acquired Nama Copper plant, in view of the way it has been able to streak ahead of targeted performance? Over the next three months, it will build up to about 1 000 concentrate tonnes. It's going to produce close to 350 t of copper metal, and we'll generate something close to about R50-million to R60-million in revenue. Not only will that plant pay itself back in four months, but the production ramp up is not a problem because we've...
GUEST: Retief Gerber | CEO and co-founder of Spatialedge Spatialedge, a South African data and applied AI solutions company, secures R60 million in funding from Hlayisani Capital, accelerating its mission to revolutionise retail. With revenue surpassing R300 million, Spatialedge drives innovation, backed by Hlayisani Capital, to solidify its role in sector transformation. Retief Gerber, CEO and co-founder of Spatialedge explains what they do and the recent funding they received.See omnystudio.com/listener for privacy information.
This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. The National Energy Regulator of South Africa (Nersa) has initiated consultations on Eskom's latest Regulatory Clearing Account (RCA) application for the 2022/23 financial year, where Eskom is requesting R9-million, its lowest RCA application since the utility began making yearly submissions under the claw-back mechanism. Given that the amount is less than 2% of Eskom's allowable revenue for the year, Nersa is not required to undertake public hearings. Nevertheless, a consultation document has been published, with virtual hearings scheduled for August 2 and 4 and a decision expected by December 2. Eskom indicates that the cost and revenue variances during the period were relatively modest largely because foregone revenue related to loadshedding during the period has not been included in the RCA. GM for regulation Hasha Tlhotlhalemaje reports that the effect of loadshedding on Eskom during the period was about R20-billion, but that this amount has been excluded from the application as has been the case historically. She also tells Engineering News that the relatively small variance does not reflect a growing convergence between Eskom and Nersa regarding RCA calculations, disputes over which have been the subject of legal action. Eskom has reviewed all RCA decisions from 2014/15 to 2020/21 in court and court processes are still under way involving about R60-billion in what the utility alleges to be incorrect RCA decisions. Tlhotlhalemaje says this view has been endorsed by a court judgment and order for the financial years 2014/15 to 2016/17 RCA decisions, which Eskom subsequently re-reviewed after Nersa failed to comply with the order. Therefore, she does not view the current small variation as reflecting a growing convergence between Nersa and Eskom on the way the RCA mechanism is being implemented. "Instead, the key variances make the difference; one of these being revenue related to loadshedding that has not been included in the RCA. "Thus, an amount of approximately R20-bilion is not recovered, which has always been the tradition, but the amount is very extreme for this financial year," Tlhotlhalemaje explains. Eskom and Nersa also not yet aligned on the methodological approach that should be taken for the next round of tariff applications. Nersa has approve Electricity Pricing Determination Rules (EPDR), which it wants to be implemented for the 2025/26 financial year. Eskom, however, says the EPDR cannot be implemented as its fails to include a method for calculating tariffs and that the prevailing multiyear price determination, or MYPD, framework and methodology will, thus, have to be used. "Eskom is complying with the court order that requires the use of whatever methodology is in existence in September 2023 for the revenue determination for 2025/26. "The process is under way for a decision by Nersa in December 2024," Tlhotlhalemaje tells Engineering News.
This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. The National Energy Regulator of South Africa (Nersa) has initiated consultations on Eskom's latest Regulatory Clearing Account (RCA) application for the 2022/23 financial year, where Eskom is requesting R9-million, its lowest RCA application since the utility began making yearly submissions under the claw-back mechanism. Given that the amount is less than 2% of Eskom's allowable revenue for the year, Nersa is not required to undertake public hearings. Nevertheless, a consultation document has been published, with virtual hearings scheduled for August 2 and 4 and a decision expected by December 2. Eskom indicates that the cost and revenue variances during the period were relatively modest largely because foregone revenue related to loadshedding during the period has not been included in the RCA. GM for regulation Hasha Tlhotlhalemaje reports that the effect of loadshedding on Eskom during the period was about R20-billion, but that this amount has been excluded from the application as has been the case historically. She also tells Engineering News that the relatively small variance does not reflect a growing convergence between Eskom and Nersa regarding RCA calculations, disputes over which have been the subject of legal action. Eskom has reviewed all RCA decisions from 2014/15 to 2020/21 in court and court processes are still under way involving about R60-billion in what the utility alleges to be incorrect RCA decisions. Tlhotlhalemaje says this view has been endorsed by a court judgment and order for the financial years 2014/15 to 2016/17 RCA decisions, which Eskom subsequently re-reviewed after Nersa failed to comply with the order. Therefore, she does not view the current small variation as reflecting a growing convergence between Nersa and Eskom on the way the RCA mechanism is being implemented. "Instead, the key variances make the difference; one of these being revenue related to loadshedding that has not been included in the RCA. "Thus, an amount of approximately R20-bilion is not recovered, which has always been the tradition, but the amount is very extreme for this financial year," Tlhotlhalemaje explains. Eskom and Nersa also not yet aligned on the methodological approach that should be taken for the next round of tariff applications. Nersa has approve Electricity Pricing Determination Rules (EPDR), which it wants to be implemented for the 2025/26 financial year. Eskom, however, says the EPDR cannot be implemented as its fails to include a method for calculating tariffs and that the prevailing multiyear price determination, or MYPD, framework and methodology will, thus, have to be used. "Eskom is complying with the court order that requires the use of whatever methodology is in existence in September 2023 for the revenue determination for 2025/26. "The process is under way for a decision by Nersa in December 2024," Tlhotlhalemaje tells Engineering News.
With government saying there are no funds to employ doctors, qualified unemployed doctors say the government should bail out the health sector as with Eskom and other public entities. Dr Sanelisiwe Shozi who studied at the University of KwaZulu-Natal has been without a job since the beginning of 2023 and has been looking for employment in government. He feels the state is not willing to help the sector: “This is not an issue of finance, it's an issue of horrible mismanagement of funds from government.” An unemployed doctor from Tsomo, Eastern Cape, spoke anonymously to TimesLIVE. He was sent by the government to study medicine in Cuba. He returned to Eastern Cape to complete his internship because he says he wanted to fulfil his promise to serve rural people. He dismissed reports that doctors do not want to work in rural areas. According to South African Medical Association Trade Union (Samatu) which represents doctors throughout the country, as of January there were 825 unemployed doctors. Deputy president of Samatu Dr Nkateko Mnisi said they are concerned that there are no funds, as this compromises health as a public commodity. “There's been many public entities that have found themselves at risk and have been bailed out; we speak about entities such as Eskom, such as SAA. Is the health of our community, is the health of South Africans not important? I feel it is highly important and we urge that government and our leaders take action to bail out healthcare.” The union, as well as the other unemployed doctors, dismissed a claim by the health department that young doctors reject rural employment. Last month the department said: “Several vacant posts are in rural areas, places that some prefer to sit out for a year, rather than venture into unfamiliar territory. This is a yearly problem where some young doctors reject rural placements using a variety of reasons.” The Health and Allied Workers Indaba Trade Union (Haitu) also released a statement rebuking the health department for “lying”: “The health department must be strongly condemned for shamelessly padding lies and for scapegoating junior doctors for their own joblessness.” Presenting the health department budget vote last year, minister Joe Phaahla said the health sector is underfunded, citing the Covid-19 pandemic and load-shedding. “The 2023/24 budget allocation for national department of health shows a decline of R4.4bn, from R64.5bn in 22/23 to R60.1bn in 2023/24.” Finance minister Enoch Godongwana, will table the national budget speech later this month. The ministry said “the budget allocation aims to strike a balance between growing the economy and supporting the vulnerable amid limited resources”. The ministry asked the public to share suggestions on the budget and submit their views.
Samantha Meyrick (Director of IPSS Search & Rescue) and Keith Muller (IPSS Search & Rescue Volunteer) join Mike Charles to give an update on the planned fundraising drive to secure a much-needed Search & Rescue police dog for Umhlali SAPS. After 10 years of service at the side for SAPS Warrant Officer Clinton Odayar, it has come time for legendary police dog K9 Dante's well-deserved retirement… K9 Dante has served the North Coast of KZN with distinction, bringing family members home safely, as well as bringing closure to many families who have lost loved ones in incidents ranging from drownings to natural disasters. As this K9 hero steps back, he leaves behind a void at Umhlali SAPS, and without a specially trained working dog such as Dante, the police service's search & rescue abilities on the KZN North Coast will be severely hampered. Luckily, a new replacement has been identified from a private K9 training facility in Pietermaritzburg, and it is hoped that K9 Zeus - Dante's planned replacement - will be joining W/O Clinton Odayar before month's end. At 2 years old, K9 is fully trained to perform the same function as K9 Dante. He will join a SAPS K9 Search & Rescue training program in February and will be an active SAPS K9 Search & Rescue member within 2 months. However, the cost of securing a trained K9 like Zeus has been set at R60 000 (an already reduced rate). As a private NPO operating in the rescue space, IPSS Search & Rescue (SAR) is hoping to galvanise community support through a crowdfunding “telethon” drive on Ballito's Radio Life & Style on Wednesday the 24th of January 2023… This is a call to our community to assist us in raising the funds to secure K9 Zeus, who will be donated to Umhali SAPS K9 Search & Rescue through IPSS SAR NPO. Any Additional funds raised during the telethon drive will be used by IPSS SAR NPO to conduct essential training to IPSS SAR volunteers as well as upskilling SAPS Search & Rescue and Durban Metro Search & Rescue members. Stay tuned to Radio Life & Style on Wednesday for details on how to donate LIVE to the telethon (and challenge other individuals and businesses), or contribute towards the cause using the banking details below: IPSS MEDICAL SAR NPC STANDARD BANK 051001 A/C: 032380798 REF: NAME EMAIL: admin@ipss.co.za Radio Life & Style on Facebook · The Morning Show Sponsor: Excellerate Security
The Electoral Commission of South Africa (IEC) has allocated R5-million to parties represented in Parliament - and the African National Congress (ANC) will receive the most from the electoral commission pay-day, in line with regulations governing the multi-party democracy fund. But ActionSA - which opposes the type of funding that gives a slight advantage to the ANC and others - has joined those questioning just how the party went from only having R100 000 in the bank, to managing to get into an out-of-court settlement with Ezulweni Investments over a R102-million debt for election campaign related work from the 2019 general election. Social media was awash with questions about how the party was able to fund its 112th birthday celebration at the weekend, given its persistent financial woes. The allocation means the ANC, as the biggest party, will receive the largest share. The information about the R5-million funding is contained in a government notice, dated 12 January, and advises that a total amount available for allocation for the period 1 January 2024 until 31 March 2024 to represented political parties from the multi-party democracy fund is R5 001 319. This will be shared among the parties with seat representation in Parliament. ActionSA party chairperson Michael Beaumont has insisted that the ANC was concealing its source of funding given its announcement that it was debt free. Beaumont said there is a "link" between Ezulweni Investments and state contracts which shows the "reasonable fear that South Africans may find themselves paying for this settlement". He said ActionSA is awaiting confirmation from the ANC treasurer-general, Dr Gwen Ramokgopa, on whether she will implement President Cyril Ramaphosa's offer to avail the documents in the interests of transparency. "The revelation of this connection to state contracts has been revealed in a tender awarded by the Newcastle Local Municipality to Gladmod Transport and Shories Project 47, which lists Mr Renash Ramdas as its sole Director according to the Companies And Intellectual Property Commission. This is the same Ramesh Ramdas who is listed as the CEO of Ezulweni Investments in the court papers against the ANC and who is believed to be married to the sole Director of Ezulweni Investments, Ms Ashnee Ramdas," Beaumont said. He went on to say: "The tender itself was for the amount of R200 000 issued on 27 October 2021 for the provision events services for an imbizo for the mayor of Newcastle Municipality, days before the 2021 local government elections. The reality is that no central repository exists for tenders across all spheres, departments and entities government in South Africa that would allow for a deeper assessment of how business interests connected to the Ramdas family may have benefitted more substantially from state contracts." He said this shows that key players in Ezulweni Investments are registered suppliers who do businesses with the state and are beneficiaries of state contracts, "undoubtedly" of more than just the Newcastle example. "Of further interest is that this tender was awarded in October 2021 [at] a time in which the ANC's debt would have been accruing legal costs and interest for nearly three years," Beaumont said. "It follows that the nature of the debt settlement agreement between the ANC and Ezulweni Investments represents a reasonable and rational concern that part or whole of the debt may be paid through future business conducted between the state and the Ramdas family. This matter can no longer be purported to be a private matter between the ANC and its creditor, but now directly involves all South Africans." He said in light of the liquidation process revealing that the ANC had less than R60 000 in all its bank accounts and failed to pay salaries for the most of 2023, there was no doubt that the sudden announcement of a solution, followed by the extravagant 8 January statement in Mpumalanga, brings into serious question the source o...
South Africa's Finance Minister, Enoch Godwongdwana, is set to present the medium-term budget policy statement, bringing updates on economic forecasts, budget adjustments, and necessary spending changes. However, Stanlib's Chief Economist, Kevin Lings, warns that the upcoming mid-term budget won't bring good news. Lings, in an interview with Biznews, highlights a significant deterioration in South Africa's fiscal health since the February budget. He believes that the initial projections were overly optimistic, and government spending remains unchecked. Lings anticipates a R60 billion revenue shortfall and approximately R25 billion in overspending. He expresses scepticism about the government's ability to enact substantial changes to regain investors' trust. Lings rules out staff or salary cuts in the government and believes social payments won't be reduced during an election year. South Africa, he said, is heading in the direction of a fiscal cliff. Flags are going up and he urges the government not to wait for a crisis, as it did with Eskom, but to act proactively. Ling said the market is already concerned about these deteriorating fiscal parameters and the lagging tax revenue. If South Africa however can enhance its growth rate and eliminate load shedding, the country can attract substantial foreign investment.
Support the Airhead 247 Podcast by becoming a member of the BMW MOA—it's FREE. Follow this link 247.bmwmoa.org and use the code airheads247 to register for a FREE one year digital membership. It's a quick and easy process and a simple way to support this program. Email and contact us directly: airheads247@hotmail.com Elspeth Beard probably the most famous R60/6 still in circulation. If you are not familiar with her, she was the first British woman to circle the globe on a motorcycle but that's only part of her story. She's also an accomplished architect and still active in the motorcycle scene in the UK. Many of you have read her book, Lone Rider and if not, a good one to put on the to do list for sure. Elspeth still owns and rides the 60/6 among a few other bikes, so we'll chat about that lessons from her trip and a number of airhead topics this week on the program. Also this week, our first in a series of Tech Talks with William Plam from Boxer 2 valve. Our topic this week, brake systems on the Type 247.
Kaizer Chiefs want to celebrate their 53rd birthday fully by defeating Sekhukhune United. The 2 teams will meet at the DStv Premiership match at the FNB Stadium this evening. Today Kaizer Chiefs will start with an exciting itinerary of birthday celebrations to mark the team's 53rd Birthday. Kaizer Chiefs has also slashed the ticket price for tonight's game in order to allow as many of their fans to celebrate with them, R30 for open stand seats instead of R60, and there are similar discounts for hospitality packages. For more on the birthday celebrations, Sebenzile Nkambule spoke to Vina Maphosa, A representative of Kaizer Chiefs
The Gauteng High Court has set aside the National Energy Regulator of South Africa's (Nersa's) most recent evaluation of Eskom's regulatory asset base (RAB), a decision that has potential significant implications for a pending tariff determination. The State-owned utility took the regulator's RAB decision on legal review after Nersa more than halved Eskom's RAB to R551-billion relative to the R1.25-trillion outlined in its revenue application for the 2022/23 financial year. The cut in the RAB contributed to the Energy Regulator's decision to approve a 9.61% hike for 2022/23, which was less than half the 20.5% hike for which Eskom had applied. While the order will have no retrospective effect, the court has instructed Nersa to re-determine Eskom's RAB for subsequent years, with implications for the tariffs to be applied in 2023/24 and 2024/25. That tariff decision, which is currently under adjudication by Nersa following recent public hearings, was initially expected by November 7, but the regulator has until December 24 to make a determination in line with a timeline stipulated in a separate court order. Eskom has applied for a 32% hike from April 1; an increase that includes 10.67% to “correct” the depreciation figure that was affected by the cut of the RAB, as well as a further 2.85% to “correct” the return on assets amount. The actual outcome will depend on what Nersa determines the RAB to be, however. The High Court order also outlines the specific steps that the regulator needs to take to re-determine the 2022/23 RAB, including that: only commissioned assets be included in the replacement cost determination and that assets under construction be valued at book value, excluding capitalised interest during construction until they can be transferred to the commission-asset category; the regulator reverses a flue gas desulphurisation adjustment incorrectly made in its earlier decision; the accumulated depreciation adjustment be made to reflect the correct remaining useful lives of the power stations to ensure that they do not have negative RAB values; the correct remaining useful life of each power station is used when the roll-forward depreciation is calculated; Nersa comply with the multiyear price determination methodology with regards to energy availability factor adjustments for Eskom generators; the completed generation, transmission and distribution asset value not included in the RAB of 2022/23 be included; and the book value, excluding capitalised interest during construction, of all assets under construction be used in the RAB determination. Once the RAB value is determined, the completed assets will need to be depreciated. In the disputed RAB of 2022/23, depreciation of R42-billion was approved against Eskom's request for more than R60-billion.
BCR'S HOTTESTTOP 10 HITS 10.Mr Ramantsho ft Mbukzem.SA CHUBBYTown 9. Show Me The Way - Benji The Worshipper. 8. Rytious – Thandaza 7. Fela SoulQ ft. Thandinkosi Verseone – Emoyeni 6. *DJ Grizzly ft Lord KG & Q.LV Jaiva Careless* 5.FLACKO Mabajabule Ft. Montey_Mo 4. Busiswa - Makazi Feat. Mr Jazziq 3. Mary J. Blige - Rent Money (feat. Dave East) 2. Beyoncé, Shatta Wale, Major LazerALREADY 1. Jennifer Hudson - Pocketbook ft. Ludacris EMAIL us your music for playlisting : blackradio309@gmail.com Contact our production for affiliation of R60 for coverage on our online magazine boasting over 300 000K VIEWS . Facebook: black community radio bcr twitter@blackcommunit14 www.blackcommunityradio.co.za --- Send in a voice message: https://anchor.fm/eshdey-diphae/message Support this podcast: https://anchor.fm/eshdey-diphae/support
Kaizer Chiefs fans have had a rollercoaster of a week for a few reasons. It all started with a recurring issue, being the prices of tickets. It seems as if other teams are raising the price from R60 to R100 whenever Chiefs are in town. This is causing outrage among the fans with one saying "They are killing us..." Khosi Nations cries for the PSL to step in and regulate the prices of tickets have continued to go unheard. This is an issue that has been spoken about before by the fans, yet nothing has changed. Continuing Khosi Nations rollercoaster, their new Burundian striker Bonfils-Caleb Bimenyimana netted an 11-minute hatrick, involving 3 penalties! This leaves the man with a total of 6 goals so far this season, joint first with Sundowns' Peter Shalulile. "He's started off well, but he needs to continue this form" says one fan on the Fan Reaction Show. On the latest episode of the Fan Reaction Show, Khosi Nation has reacted to the price hike implemented to tickets to matches involving Chiefs. The Amakhosi faithful also have their say on newly signed Bonfils-Caleb Bimenyimana. SL Radio on SoccerLaduma.co.za
Kaizer Chiefs fans have had a rollercoaster of a week for a few reasons. It all started with a recurring issue, being the prices of tickets. It seems as if other teams are raising the price from R60 to R100 whenever Chiefs are in town. This is causing outrage among the fans with one saying "They are killing us..." Khosi Nations cries for the PSL to step in and regulate the prices of tickets have continued to go unheard. This is an issue that has been spoken about before by the fans, yet nothing has changed. Continuing Khosi Nations rollercoaster, their new Burundian striker Bonfils-Caleb Bimenyimana netted an 11-minute hatrick, involving 3 penalties! This leaves the man with a total of 6 goals so far this season, joint first with Sundowns' Peter Shalulile. "He's started off well, but he needs to continue this form" says one fan on the Fan Reaction Show. On the latest episode of the Fan Reaction Show, Khosi Nation has reacted to the price hike implemented to tickets to matches involving Chiefs. The Amakhosi faithful also have their say on newly signed Bonfils-Caleb Bimenyimana.
Four different spokespersons in the Office of the Premier in KwaZulu-Natal cannot say what the work status of criminally charged director-general Nonhlanhla Mkhize presently is. Last week, News24 contacted four spokespersons in the Office of the Premier where Mkhize works. A week later, however, no responses have been forthcoming. Despite promises to respond to News24's simple question, "Is Mkhize back at work?", none of the spokespersons were able to say if she was back in her offices in Pietermaritzburg. Shortly after her release from jail, where she spent three nights, Mkhize, one of the highest ranked public officials in the province, has gone to ground. The Office of the Premier, now led by Nomusa Dube-Ncube, has also been silent following Mkhize's arrest. While Dube-Ncube made bold promises to be more open with the public when she took up her position as KwaZulu-Natal premier, her office has been terse when speaking publicly about Mkhize. Dube-Ncube's office said, "We have received enquiries from the media regarding the arrest of Director General Dr Nonhlanhla Mkhize in the Office of the Premier in KZN. Respectfully, at this stage, the Office of the Premier is not in a position to make any comment on the matter as it is in the hands of law enforcement authorities." Accusations against Mkhize Mkhize appeared in the Durban Specialised Commercial Crimes Court in the last week of August, along with three co-accused - Siphiwe Mabaso, Sthembelo Ralph Mhlanga, and Mthokozisi Pius Duze - in connection with the 2018 Mhlathuze Water procurement project. They all face charges of intimidation, obstructing the course of justice, and fraud after internal auditors at Mhlathuze Water uncovered illegal procurement amounting to R37-million. Mkhize was later released on bail and KwaZulu-Natal National Prosecuting Authority (NPA) spokesperson Natasha Ramkisson-Kara said the court had it as she had played a "minimal role" in the fraud. Ramkisson-Kara said the municipality was required to appoint legal service providers for a three-year contract. Duze, the suspended Mhlathuze Water CEO, and suspended Mhlathuze Water CFO Babongile Mnyandu, allegedly colluded to give Mhlanga, Thabiso Khumalo, and Mhlanga's company an unfair advantage to score the tender. Khumalo and Mnyandu were also arrested and charged with fraud and corruption. Mnyandu was released on R60 000 bail, while Khumalo got R6 000 bail. Mkhize and her co-accused will return to court on 6 December.
Janie Denyssen het vir ons ‘n epos gestuur om haar vriendin en kollega, Marietjie van Wyk, met agterstallige skuld te help. Sy het haar oorlede broer se seun, HO, aangeneem en is hy vir die afgelope 10 jaar in haar en die Oord PV3 se sorg. By die Oord, saam met ander mense wat soos HO, met Down's Sindroom gediagnoseer is, kan hy homself wees. Die oord, waarvoor Marietjie ontsaglik dankbaar is, kos maandeliks baie duur. Marietjie, wat ook intussen afgetree het, sukkel om dit te bekostig. ‘n Paar weke gelede het ons die nuus gehoor dat HO oorlede is. Nie net is Marietjie se hart aan't skerwe as gevolg van hierdie verlies nie, maar hang die agterstallige skuld swaar oor haar kop. Sy probeer haar beste om by die betalings te bly, want soos sy sê, ‘doen sy dit vir die ander mense wat nog daar bly en ook die hulp nodig het'. Marietjie het intussen ‘n derde van haar pensioen onttrek om ‘n groot gedeelte van die agterstallige bedrag te delf. Sy skuld nog R60 000. GROOTfm 90.5 het gaan inloer om Marietjie te vertroos en haar storie te hoor…
Janie Denyssen het vir ons ‘n epos gestuur om haar vriendin en kollega, Marietjie van Wyk, met agterstallige skuld te help. Sy het haar oorlede broer se seun, HO, aangeneem en is hy vir die afgelope 10 jaar in haar en die Oord PV3 se sorg. By die Oord, saam met ander mense wat soos HO, met Down's Sindroom gediagnoseer is, kan hy homself wees. Die oord, waarvoor Marietjie ontsaglik dankbaar is, kos maandeliks baie duur. Marietjie, wat ook intussen afgetree het, sukkel om dit te bekostig. ‘n Paar weke gelede het ons die nuus gehoor dat HO oorlede is. Nie net is Marietjie se hart aan't skerwe as gevolg van hierdie verlies nie, maar hang die agterstallige skuld swaar oor haar kop. Sy probeer haar beste om by die betalings te bly, want soos sy sê, ‘doen sy dit vir die ander mense wat nog daar bly en ook die hulp nodig het'. Marietjie het intussen ‘n derde van haar pensioen onttrek om ‘n groot gedeelte van die agterstallige bedrag te delf. Sy skuld nog R60 000. GROOTfm 90.5 het gaan inloer om Marietjie te vertroos en haar storie te hoor…
Simon Shares BHP Group* (JSE code: BHG) results, have we peaked? Absa (JSE code: ABG) results, but maybe the ore important point of the results is their expectation that prime will hit 11% early in 2023. Chip shortage seems to be easing. Nasdaq is in a bull market, +20% off mid-June lows. Brent oil falling. Current petrol price reduction is 260c for September. UK inflation is 10.1% for July. Charles Savage tells us his fav ETFs Rochelle Writes, pay down debt or save more with high rates. Thungela resources (JSE code: TGA) still a buy? R60 dividend, 40% forward DY HEPS 6723c, forward PE 2.5x Mis-priced at listing, unbundling often cause this to happen. Ukraine's war gave it new legs. Risks Coal price Rand strength Ukraine war Transnet * I hold ungeared positions.
JSE- and London-listed thermal coal-mining and marketing company Thungela has approved the declaration of an interim gross ordinary cash dividend totalling R8.2-billion from retained earnings accrued during the six months to June 30, on profit for the reporting period of R9.6-billion, which is more than 27 times higher than last year's first-half profit. Thungela was listed in Johannesburg and London in June 2021 following the demerging of Anglo American's the South African thermal coal operations. Although full-year guidance for export saleable production has been revised down reflecting expected ongoing Transnet Freight Rail (TFR) performance, Thungela has a far-reaching value-over-volume plan which could see value remaining sky high on highest-margin coal being railed. Providing insight into the context in which Thungela presented such impressive results, Thungela CEO July Ndlovu outlined how the Russia/Ukraine conflict's demand pull had been coupled with supply constraints across the major coal-producing regions, resulting in coal prices soaring to unprecedented record levels. Despite TFR's under-performance hindering Thungela's ability to take full advantage of the strong demand environment, the company delivered operating free cash flow of R8.9-billion resulting in a net cash operating free cash flow position of R14.8-billion – R11.8-billion more than in the first half of 2021. The board's R60 a share represents 92% of operating free cash flow and is way above the stated policy of returning a minimum of 30% of free cash flow to shareholders. In addition to the R273-million received by the trusts in 2021, the SACO Employee Trust and Nkulo Community Partnership Trust will receive R500-million in keeping with commitment to share the value with stakeholders. Moreover, on the environmental front, a further R200-million half-year discretionary contribution has also been made to the company's Green Fund. Thungela is distributing all excess cash above the liquidity buffer of R6-billion. The board has also approved the R2-billion Elders production replacement project, which maximises coal quality. Elders will replace volumes from the Goedehoop colliery, which is coming to end of its life. “This is quite an important project as it will allow us to preserve jobs and livelihoods of particularly small enterprise businesses within the region that we operate,” Ndlovu told a media conference in which Mining Weekly participated. In June, Thungela launched the Thuthukani supplier and enterprise development programme to support local business and stimulate job creation. Thuthukani means to uplift in isiZulu and the programme aims to provide hands-on entrepreneurial business support in the form of non-funding technical enablement to small enterprises in Mpumalanga, around Thungela's mines. Thungela is seeking to geographically diversify its coal business. RAIL CONSTRAINT EXPECTED TO REMAIN Although improvement is expected from TFR given work done, Thungela has decided to be conservative in its expectation by continuing to implement its mitigating actions and lowering production guidance from 14-million tonnes to 15-million tonnes to 13-million tonnes to 13.6-million tonnes. The lower guidance does not rely on material improvement by TFR. The expectation is that capital expenditure in 2022 will likely be on the lower end of the guided R1.7-billion to R2-billion. HIGHEST MARGIN COAL TO BE RAILED In response to Mining Weekly, Ndlovu pointed to the announced likelihood of only 60-million tonnes of coal being railed through the rail corridor to Richards Bay Coal Terminal in 2022, requiring Thungela to mitigate its business by setting out to rail the highest-margin coal. The results just out also involved Thungela taking action to ensure that it sends the highest-margin coal down the corridor to maximise earnings. The first mitigating action taken is to stockpile where necessary lower-margin, lower-grade coal, such as middlings coal. The secon...
Hajj 1443/2022 is the first hajj that is taking place “post-Covid” has invoked several emotions as those chosen to participate in the Hajj this year are elated, those who due to several circumstances are unable to but for the Ummah it is still a time to rejoice. Hafez Ebrahim Moosa said that this Hajj would be remembered as the “first Hajj after Covid.” He took us through a timeline from the initial onset of the global pandemic and subsequent lockdown to the current Hajj where only about 45% of foreign Muslims will be performing Hajj. With some restrictions still in place, he said that those older than 65 are most heart breaking as they are unable to perform the Hajj, especially as many have been looking forward to the pilgrimage and saving, for some, for a lifetime. But for the less advantaged globally, the cost of Hajj is exorbitant, especially for those in Muslim majority countries where the Hajj subsidies have been curtailed. Another factor is, of course, the lack of air and land transport, worldwide. A Hajj-only package, for South Africans, for the days of Hajj only would cost from R40 000 to R60 000. He alluded to the fact that as the Hajj experience is costing more, the expectation from Hujjaj would be higher as well as they want more for their buck. For European, US and British citizens, a journey that is planned and eagerly waited for has been a nightmare with the launch of the Motawif system which involves a lottery draw with only a chosen few would make the trip. Basically, the middlemen who once facilitated the Hajj were omitted and the system introduced June 6th, 2022, with hujjaj expected to complete their applications by June 13th, 2022. The challenges were many, as they tried to obtain refunds, working with a computer system that had many flaws and approvals were successful, the flexibility of the packages was non-existent. The horror continued, even for those who jumped the many hurdles as they faced botched bookings for accommodations and other issues.
Democratic Alliance (DA) Shadow Minister of Public Enterprises Ghaleb Cachalia on Thursday called for a State of Disaster to be declared on power utility Eskom following a heavy run of load-shedding this year. The DA has also written to Presidency Director-General Phindile Baleni requesting a State of Disaster on Eskom and asking for the electricity sector to be placed on the agenda of the next Cabinet meeting. The DA also wants an update on its request at the post-Cabinet briefing. The party believes that the significance of a State of Disaster on Eskom and the electricity sector will help galvanise the national effort towards incremental energy projects with specific deliverables. Cachalia said load-shedding is job-shedding and he called for an immediate response to the crisis. “The failure to resolve load-shedding's longstanding existential threat to the country's economy and its competitiveness, has robbed unemployed South Africans of much needed jobs and damaged the country's standing as an investment destination,” he stressed. The DA went on to blame the ANC government and energy regulatory bodies for adopting a ‘business as usual' approach and ignoring the lack of urgency on the electricity crisis. “We need radical measures to avert disaster which is why we are calling for a State of Disaster,” Cachalia said. He blamed government for not removing the red tape that is preventing new renewable energy projects. The DA says more than 30 projects in the mining industry for self-generation, valued at more than R60-billion, were being delayed by red tape. The DA wants an Electricity Emergency Response Plan in place to lay out short, medium- and long-term goals to bring additional generation capacity to the national energy grid. Conceptualisation and finalisation of the plan should involve all stakeholders from government, industry experts, engineering bodies, Independent Power Producers (IPPs), civil society and members of the public. “Contrary to what the Minister of Public Enterprises Pravin Gordhan appeared to insinuate recently, South Africa does not need to reach stage 8 of load-shedding before an emergency can be declared. The truth is, South Africa is already in an electricity shortage crisis, with a generation shortfall of between 4 000MW and 6 000MW right now, and the government is duty bound to respond with urgency,” said Cachalia. He warned that should the electricity crisis be allowed to degenerate beyond its current stage, the consequences on the country's economy, security, investment climate and socio-economic order will be severe. DA Shadow Minister of Mineral Resources and Energy Kevin Mileham said the underlying premise for the call for a State of Disaster is that South Africa should be making it easy for IPP's to bring new generation capacity online, at scale and in the shortest possible time. “We need to put the National Energy Regulator of South Africa into crisis mode to help lessen red tape and approve generation projects in shorter time lines and reprioritise budget resources from non-emergency expenditure towards accelerated spending energy generation projects,” he said.
Malaysia's 1MDB fund raised $6,5 billion in bonds with reportedly $4 billion (about R60 billion) being looted and shared among those that set up the fund and the Prime Minister of Malaysia. The story thankfully reveals that the scam was discovered and that many involved are facing the consequences, but it has left Malaysia with a debt of over $7 billion. The lessons for South Africa include just how long it takes to prosecute cases like this and how sentences may not seem to fit the scale of the crime, it also shows that even if you do expose the corruption you may not get to prosecute everyone. Image credit: Siftography on 123rf.com See omnystudio.com/listener for privacy information.
BCR's Top 10 Hits Sitting @ No 10. ❤Linric Toto Thongo Lami 9.❤Rytious Thandaza 8.❤Kazy_Doe gr8 Emtee Nobody knows 7.❤Slime Tee- Thabiso 6.❤Selloane Nkhela Gone 5.❤Mellow69 Luv me 4.❤VoxyZie Bone Summer siyabangena 3.❤Drake -Laugh now cry later 2.❤Saint Jhn Roses 1.❤Verse One ft Zee Deep x Kiavalla Akabambeki Get your music reviewed and coverage @ R60 email music and profile blackradio309@gmail.com visit www.blackcommunityradio.co.za --- Support this podcast: https://anchor.fm/eshdey-diphae/support
It's December 2021, and this is the seventeenth Audio Episode of “The Shyft Lift”, the regular news digest of the App for the globally-minded, based in South Africa. South Africa's imports of machinery from China for 2021 should surpass the R109 billion recorded in 2020. https://www.youtube.com/watch?v=D1oy_Q6OAF4 Collectively, these eight African states plan to spend approximately USD145 billion for the upcoming fiscal, a 17% rise: Angola, Nigeria, Ghana, Ivory Coast, DRC, Mozambique, Zambia and Zimbabwe. https://www.afdb.org/en/knowledge/publications/african-economic-outlook For the year-to-date, foreigners have been net sellers of SA equities to the value of R48.3 billion with outflows of R27.8bn from industrials and outflows of R20.8bn from resources. SA financials saw small inflows of R0.3bn. https://www.youtube.com/watch?v=G_tVEJ7MbJk Chinese President Xi Jinping recently promised to help triple the value of African exports to China before 2024. https://www.youtube.com/watch?v=siNTnrh92to The value of mineral sales by South African mines dropped below R60 billion in September 2021 – the first time since February 2021 that mined exports have been below this level. https://www.youtube.com/watch?v=8DLIFbHgPaU When you include offshore strategies in your savings and investment plans, you spread your risk and protect yourself against volatility. With Shyft you can buy shares in global companies like Alibaba, Baidu, Apple, Tesla, Amazon, Alphabet and more. Exchange traded funds (ETFs) track stock exchange indices like the NASDAQ 100 or the S&P 500, providing good balance and diversification. This festive season many American retailers were offering “buy now, pay later” financing options provided by third-party firms like Affirm, Afterpay or PayPal at their online checkout. https://www.nwaonline.com/news/2021/dec/04/buy-now-pay-later-seen-gaining-traction/ Job openings in South Africa's healthcare and technology sectors are increasing. Engineers, tax professionals, marketing managers and data scientists are high in demand for 2022. https://www.youtube.com/watch?v=CeeEdrjHwwM Susan Arnold has been elected as the first woman chairperson of Walt Disney in its 98-year history. https://www.youtube.com/watch?v=wSwSE6gvgPA A work culture that supports financial wellness for employees can help them to be more present, productive and healthy at work. https://www.youtube.com/watch?v=p0LbWyJwjzE Shyft is an app for global citizens, based in South Africa. It helps you buy, send, and store local and foreign currency - anytime, anywhere, directly from your mobile. Visit getshyft.co.zato download the app. SHYFT operates under the license of The Standard Bank of South Africa Limited, an authorised Financial Services Provider (FSP number 11287). --- Send in a voice message: https://anchor.fm/standard-bank-southafrica/message
This week Tom sits down with Tim Stafford of Stafford Restorations. Tim specializes in 1951 to 1969 BMW motorcycles. They talk about Tim's start with Vespa scooters, the odd motorcycle endorsement, and how a failed oil slinger on an R60 started his pursuit for restoration excellence. http://talkingmotorcycles.com/ https://revivalmotoring.com/
This week’s episode features one of my favourite travellers, Neo Mokuene @black_tonystark and we talk all about his recent trip to Jordan. From getting around safely, to all the exciting things he got up to in Amman, Wadi Mujib, Dead Sea, Wadi Rum and more. Oh the best thing about this trip? It was their first date! Please share your thoughts on this interview with me on social media and tag me on @chicatravelpodcast / @mslelob . This episode was brought to you by DiDi South Africa. A ride-share app giving South Africans the opportunity to move freely while unlocking their potential and that of the cities they live in. Download the DiDi app on Apple App Store or Google Play. Added bonus - use my promo code: MissLeloDiDi and get R60 off if you are a new rider or 10% off if you have taken a DiDi trip before. DiDi - Your new ride has arrived
This week’s episode features one of my favourite travellers, Neo Mokuene @black_tonystark and we talk all about his recent trip to Jordan. From getting around safely, to all the exciting things he got up to in Amman, Wadi Mujib, Dead Sea, Wadi Rum and more. Oh the best thing about this trip? It was their first date! Please share your thoughts on this interview with me on social media and tag me on @chicatravelpodcast / @mslelob . This episode was brought to you by DiDi South Africa. A ride-share app giving South Africans the opportunity to move freely while unlocking their potential and that of the cities they live in. Download the DiDi app on Apple App Store or Google Play. Added bonus - use my promo code: MissLeloDiDi and get R60 off if you are a new rider or 10% off if you have taken a DiDi trip before. DiDi - Your new ride has arrived
This week's episode features one of my favourite travellers, Neo Mokuene @black_tonystark and we talk all about his recent trip to Jordan. From getting around safely, to all the exciting things he got up to in Amman, Wadi Mujib, Dead Sea, Wadi Rum and more. Oh the best thing about this trip? It was their first date! Please share your thoughts on this interview with me on social media and tag me on @chicatravelpodcast / @mslelob . This episode was brought to you by DiDi South Africa. A ride-share app giving South Africans the opportunity to move freely while unlocking their potential and that of the cities they live in. Download the DiDi app on Apple App Store or Google Play. Added bonus - use my promo code: MissLeloDiDi and get R60 off if you are a new rider or 10% off if you have taken a DiDi trip before. DiDi - Your new ride has arrived
"Maritzburg United Chairman Farook Kadodia has more on their new partnership with Gift of the Givers, for the first time they will have a title sponsor on their chests. He tells us that this could help them with their financial woes from recent seasons, which has led to them considering selling the club. Kadodia mentions that a PSL team needs a minimum budget of R60-million a season to run the club.”
Auto & General Insurance, together with East Coast Radio, are giving YOU a chance to win up to R6 000 in cash when YOU share a reliable Life Hack. Perhaps you have figured out how to fold fitted sheets! Whatever YOU have mastered, we want YOU to brag about it, for a chance to win your share of R60 000. Visit ecr.co.za, click on with WIN TAB and enter the Auto & General life hacks competition or SMS the word 'Reliable' followed by your name and your Reliable life hack to 33116. SMS cost R1.50 Ts and Cs apply
Auto & General Insurance, together with East Coast Radio, are giving YOU a chance to win up to R6 000 in cash when YOU share a reliable Life Hack. Perhaps you have figured out how to fold fitted sheets! Whatever YOU have mastered, we want YOU to brag about it, for a chance to win your share of R60 000. Visit ecr.co.za, click on with WIN TAB and enter the Auto & General life hacks competition or SMS the word 'Reliable' followed by your name and your Reliable life hack to 33116. SMS cost R1.50 Ts and Cs apply
Auto & General Insurance, together with East Coast Radio, are giving YOU a chance to win up to R6 000 in cash when YOU share a reliable Life Hack. Perhaps you have figured out how to fold fitted sheets! Whatever YOU have mastered, we want YOU to brag about it, for a chance to win your share of R60 000. Visit ecr.co.za, click on with WIN TAB and enter the Auto & General life hacks competition or SMS the word 'Reliable' followed by your name and your Reliable life hack to 33116. SMS cost R1.50 Ts and Cs apply
Auto & General Insurance, together with East Coast Radio, are giving YOU a chance to win up to R6 000 in cash when YOU share a reliable Life Hack. Perhaps you have figured out how to fold fitted sheets! Whatever YOU have mastered, we want YOU to brag about it, for a chance to win your share of R60 000. Visit ecr.co.za, click on with WIN TAB and enter the Auto & General life hacks competition or SMS the word 'Reliable' followed by your name and your Reliable life hack to 33116. SMS cost R1.50 Ts and Cs apply
In today’s episode of the podcast series, we are joined by FNB’s Chief Risk Officer, Lytania Johnson. Data is a key component in the risk landscape, from basic risk assessment to new technologies such as AI and machine learning. Risk is considered from two angles – how to use data and analytics to inform better risk management, and the business of risk – making sure that the risk function itself becomes future-enabled to achieve efficiency. In a retail and commercial bank such as FNB, credit risk is of utmost importance. Data is well entrenched in the retail business where it is used to build appropriate scorecards to identify the right customers at the right affordability level. In the lower end of the commercial segment, data is used to drive scorecard development for customers, and in an environment with turnovers of up to R60 million, is key to decision making. Covid-19 highlighted the importance of using broader data points to understand the risk of your customers. The various levels of lockdown identified a key data point that is often underestimated – industry risk. In the FNB environment, you can link a retail customer to an entity that they operate in, bringing together the commercial data and retail credit data to understand income risk volatility. An opportunity has also been identified where data and analytics can be used to make risk processes more efficient, and secondly, if AI and machine learning can be used to connect the data insights and develop client desirability synopsis forms, this frees up your risk professionals to do the judgmental work and assess the outcome. What about global trends such as ESG and financial crime? Data and analytics can definitely play a part in informing financial crime in the broader sense. This is not just about anti-money laundering, it’s about truly understanding a client and their financial activity within the bank. Data can also be used to see where there are opportunities to support customers who wish to transition into climate-friendly industries and to provide products and solutions that align with what you want to achieve in terms of climate risk management. Looking ahead, Lytania believes that the nature of a risk professional is going to change and will require a better overall understanding of data literacy. She also feels it is important to realise that the risk profile is going to evolve, and the risk function itself will call for a lot more platform-based risk management thinking, with data analytics at the very core of it.See omnystudio.com/listener for privacy information.
In 1982 at the age of twenty three Elspeth Beard set off on a solo trip to ride her 1974 R60/6 BMW motorcycle around the world. The journey took two and a half years, covering 35,000 miles. She set off alone with no sponsorship or support, in an age before email, mobile phones and satnavs and it was not until 2008 that she discovered that she had become the first British woman to ride a motorcycle around the world. In 2008 BMW commissioned and published a short article about the round the world trip for BMW International and as a result of this her story gradually spread. In 2015 she decided to write a book about the adventure and her book ‘Lone Rider' was published in the UK in 2017. We talk about how little interest anyone really had in her trip, before, during and after and how she felt about that. We talked about resilience, stubbornness and determination in the face of accidents, robberies and even a miscarriage. We discuss how she managed her money and how she dealt with many many unwanted threats to her personal safety. There is a poignant and vivid theme throughout the book of a young woman discovering herself and how to understand love, with a tangled love story mixed in with the girls' own adventure stories. The chat comes almost to an end with us talking about how this formative trip helped to shape the rest of her life, giving her the confidence to take on anything and everything. And finally, we discuss who should play her in the movie. Sadly, we're both too out of touch to know anyone currently able to play a very tall, very bold 23 year old biking pioneer. Answers on a postcard, please! www.elspethbeard.com https://www.brand.bmw-motorrad.com/en/experience/stories/adventure/elspeth-beard.html Instagram: @elspethbeard
I often warn people to check, check and check again when making payments via EFT or at an ATM. Choose the wrong beneficiary or transpose an account number and your money will end up as an unintentional gift in someone's account. That someone may well choose not to give it back, and the bank can't compel them to, leaving lengthy, costly legal action as your only option. Just last night I got an email from a woman who transferred R60 000 to what she thought was a friend's Standard Bank account from her FNB account. “Now the recipient is refusing to reverse the funds and the bank cannot help,” she wrote. It's a story I hear so often. But Joseph Slater alerted me to another problem area: like many others, he pays his utility account at his local retailer, and in such cases it's the till operator you rely on to key in the right numbers. But what if they don't? That's what happened to Joseph nine months ago - his R980 went into the wrong municipal account nine months ago, and he's and he only got his money back this week - after I took up the case. For the full story and key advice if you pay your utility at your local supermarket, listen now. ECR Consumerwatch
I often warn people to check, check and check again when making payments via EFT or at an ATM. Choose the wrong beneficiary or transpose an account number and your money will end up as an unintentional gift in someone’s account. That someone may well choose not to give it back, and the bank can’t compel them to, leaving lengthy, costly legal action as your only option. Just last night I got an email from a woman who transferred R60 000 to what she thought was a friend’s Standard Bank account from her FNB account. “Now the recipient is refusing to reverse the funds and the bank cannot help,” she wrote. It’s a story I hear so often. But Joseph Slater alerted me to another problem area: like many others, he pays his utility account at his local retailer, and in such cases it’s the till operator you rely on to key in the right numbers. But what if they don’t? That’s what happened to Joseph nine months ago - his R980 went into the wrong municipal account nine months ago, and he’s and he only got his money back this week - after I took up the case. For the full story and key advice if you pay your utility at your local supermarket, listen now.
Being financially free sounds hard. Without the “sacrificing mindset”, Stealthy Wealth aims for financial independence at the age of 45. His worst mistake is what he calls the R60 000 date he took his wife on. Listen to his journey to reach his goal. Your Money Matters · Transcript.pdf — PDF (105.3 KB)
We've decided to put Keri Miller to the test because being a flight attendant isn't just about having a pretty face. If you have always dreamed of spreading your wings and taking to the skies then we have just the competition for you! We’re giving away a 15-month training course with Skyy Aviation worth over R60 000. The course is called: “Air Cargo and Aviation Support with Cabin Crew". As an added bonus they've included the course “Amadeus and Altea".
Just a week ago, a 33-year-old Johannesburg man was nursing his heartbreak after his live in girlfriend ended their courtship. The man was beside himself…But in just a day- quick turnaround! The same guy clocked the 60 million Powerball Jackpot, a day after his gf dumped him. He went on further to share the following with regards to his now ex-girlfriend, and whether or not she had reached out since finding out the news: ‘My live-in girlfriend had just broken up with me, and I was not in the best of moods, I was by myself as she had already moved out. When I realised that I had won, I thought I was dreaming. I immediately went to take a cold shower and then came back to check again. It was real – lady luck was on my side, but clearly not so much for her!” Listen to the full podcast to hear what Stacey and J Sbu had to say. South African man wins R60-million jackpot after being dumped
I invited my wife to a property seminar a few year ago, I didn't know at the end they would sale us the training packages to learn how to invest in property. Fast forward the end of the session - we was both inspired and wanted to learn more but we both had no money. It was in the month of October and my wife paid for us - at average +/-R100k. THE RESULTS +/- 4 Years A thriving business that own and rents out properties to over 200 tenants across the country and just over 350 students in the Cape. My wife and I not both unemployable - IT ALL STARTED with this gift. Who in your life would be changed by giving them this present? BUY IT NOW * https://www.m5propertyvarsity.com/christmas-promotion What you GET : (before Christmas) - 60 Days FULL access to Varsity worth over R60 000 - My book delivered to you door with immense value of experience of the deals that my team and I have done that you can learn from. Watch this video on our YouTube channel: https://youtu.be/InGAA26D3Y0 --- Send in a voice message: https://anchor.fm/m5successfulfriends/message
Karoline Hanks is planning to do the 13 Peaks Challenge (100 km, taking in 13 peaks with 6 000 m elevation gain around the Table Mountain chain), to raise R60 000 for the Two Oceans Aquarium Education Foundation’s Turtle Rescue programme. See omnystudio.com/listener for privacy information.
While still recovering from a R622-million Covid-19 impact on its business in the 2020 financial year, JSE-listed construction group Murry & Roberts (M&R) says its R60.5-billion order book will help in its upward trajectory following the pandemic. The company had reported an order book of R54.2-billion at the end of September, but this has since grown as a result of the TransGrid project award to M&R’s subsidiary Clough, valued at A$1.5-billion. The project is a 50:50 joint venture between Clough and Elecnor. ElectraNet and TransGrid are partnering to deliver an energy interconnector between the power grids of South Australia and New South Wales, with an added connection to Victoria. The joint venture will deliver the engineering, procurement and construction of TransGrid’s portion of the project, which includes four substations and about 700 km of 300 kV transmission line. M&R says its project pipeline is robust and includes four projects that are being negotiated on a sole-source basis, to the value of about R40-billion. It is expected that these projects may be awarded before the end of the 2021 financial year. In a statement released on November 26, the company says the effects of Covid-19 have been continuing into the 2021 financial year, more so in the group’s operations in the northern hemisphere, but generally not at the level that was experienced before. M&R says client investment decisions continue to be affected by the pandemic and delays in new project awards have been observed across all three of its platforms, which were recently renamed. The Oil & Gas platform was renamed the Energy, Resources and Infrastructure platform, the Power and Water platform was renamed the Power, Industrial and Water platform and the Underground Mining platform was renamed the Mining platform. M&R continues to revise its expectations for the Covid-19 recovery, but remains well positioned to operate through the short- to medium-term uncertainty. The company believes the economic stimulus packages announced by many governments should create new business opportunities in the medium to longer term. What is in the process of shaping up in the natural resources, commodities, utilities, and energy and infrastructure markets supports the company’s group earnings expectations from the 2022 financial year onwards. Moreover, M&R explains that the Energy, Resources and Infrastructure platform is structured into two regional businesses: the Asia-Pacific region and the Americas. The platform, which in recent years was focused on the liquid natural gas (LNG) sector, is recovering from a very low base and the strategic decision to broaden its market focus has enabled it to build a solid order book, with a strong pipeline of new work opportunities. The platform has done well by establishing a prominent position in the specialist infrastructure and resources sectors in Australia, which are expected to remain buoyant over the next decade. Australia’s post-Covid economic recovery will rely extensively on State-funded investment in public infrastructure, with transport infrastructure spend expected to peak at A$22-billion a year in 2023. Mining majors in Australia are also forecasting a collective capital project spend of over A$3.5-billion a year for the next decade. Currently, new investment in LNG projects is limited but demand is expected to increase in the longer term as the global transition to a carbon-neutral economy gathers momentum. In the US, the energy market presents opportunity and Clough USA, as a new entrant to this region, is considering several partnerships that will make it a strong contender for engineering, procurement and construction projects. The Mining platform is structured into three regional businesses: sub-Saharan Africa, the Americas and Australasia. The platform continues to perform well, although the mining businesses in the Americas are experiencing a prolonged Covid-19 impact, manif...
Public Enterprises Minister Pravin Gordhan said on Friday that a “second round” of work is being initiated in an effort to find a solution to Eskom’s unsustainable debt burden in line with the recent social compact between government, community, labour and business to “mobilise funding to address Eskom’s financial crisis in a sustainable manner”. Speaking virtually during the release of Eskom’s delayed financial results for the year to March 31, 2020, he said the “first round” had already taken place early in 2020, and ahead of the onset of the Covid-19 pandemic, during which various options had been examined. “A second round of initiatives, arising from the ‘Eskom Compact’, will be initiated in the course of the next week and once we have greater certainty about the direction in which those processes will go we will inform the financial community and other stakeholders,” Gordhan said, referring to the compact agreed at the National Economic Development and Labour Council (Nedlac) in September. At the end of the 2020 financial year, the State-owned utility’s debt stood at R484-billion, up from R440-billion in 2019, but had moderated slightly since to around R460-billion. Eskom has indicated on several occasions that a sustainable debt level would be R200-billion and has acknowledged that its going-concern status is being maintained only by injections and allocations made by government. In 2020, the government injection stood at R49-billion, with allocations of R56-billion and R33-billion having already been announced for 2021 and 2022. The utility’s inability to generate sufficient cash to cover even the interest on its debt was the main reason for it reporting a net loss of R20.5-billion in 2020, having reported a loss of R20.9-billion in 2019. Eskom reported earnings before interest, taxes, depreciation and amortisation of R37-billion and an operating profit of R9-billion on the back of higher tariffs, with sales falling during the period, owing to load-shedding and weak demand. Net financing costs wiped out that profit, however, rising to R31.3-billion, from R27.7-billion, while its loss on embedded derivatives rose to R4.5-billion from R3.4-billion. CFO Calib Cassim said borrowings would rise again in the current financial year in order to replace debt that would mature during the period. Eskom faced debt-servicing costs of R96-billion during 2021, which would reduce to R70-billion in the 2022 financial year and plateau to an average yearly rate of R60-billion from 2023 to 2025. “Eskom needs to repay about R2-billion every week,” Cassim said, adding that, without government support, it would be facing a major debt-servicing gap. In 2020, that gap stood at R29-billion and was closed as a result of the R49-billion injection provided by government. Debt repayments had surged to become Eskom’s second-largest cost item, after primary energy, and were now also dwarfing capital expenditure, which had fallen from a peak of R56-billion in 2017 to R23-billion in 2020. Cassim described the resolution of the debt issue as a “priority for us during this financial year of 2021”, adding that the other priorities were to continue to pursue costs savings, as well as a tariff that reflected “our prudent and efficient costs”. Eskom CEO Andre de Ruyter expressed “excitement” about the ‘Eskom Compact’ agreed at Nedlac and said he was “eagerly anticipating the further development and implementation of this potential structural solution [to Eskom’s debt]”. He remained convinced, too, that green financing could play a role in the resolution of the debt crisis, indicating that there could be as much as R200-billion available and that Eskom would seek to access what it could within the constraints imposed by the fact that it would continue to operate coal plants for several decades into the future. De Ruyter was also at pains to insist that Eskom was not aiming to restructure its debt, acknowledging that the ter...
The Amnesty Committee's first public hearing of convicted white Afrikaans perpetrators was also its first rejection of amnesty. Forty-seven-year-old Hennie Gerber and 42-year-old Johan van Eyk appeared before the amnesty panel in Pretoria in July 1996. Gerber and Van Eyk were former policemen and ex-investigators with the cash-in-transit company Fidelity Guards. On the 21st of May 1991, they interrogated, tortured, shot dead and burnt their colleague Samuel Kganakga. They had suspected him of being involved in an armed robbery of about R4 million and the theft of R60 000. Angie Kapelianis and Darren Taylor report. Transcript: http://www.sabctruth.co.za/sabctruth/worldsright.htm#bluegum worlds of licence - self-confessed violators of human rights from across south africa's political landscape © SABC 2020. No unauthorised use, copying, adaptation or reproduction permitted without prior written consent of the SABC. Additional music: Blue Feather - Reunited by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1200068 Artist: http://incompetech.com/
The South African National Roads Agency Limited (Sanral) has recorded a revenue loss of R640-million to date for its 2020/21 financial year as a result of reduced traffic on toll roads during the lockdown. The State-owned roads agency also reported on October 7 that it was underspending by about R670-million a month as a result of project standstills. A notable project, the R1.65-billion, 1.1-km-long Mtentu Bridge construction on the N2 near the Wild Coast in the Eastern Cape, was undergoing a re-tendering process up to December, after the previous contractor decided to terminate its construction contract. Meanwhile, Sanral’s Gauteng Freeway Improvement Project’s (GFIP’s) Phases 2 and 3 continue to be stalled, owing to a pending decision by Cabinet on the continued implementation of the province’s e-toll system and its appropriate funding mechanism. The country has been awaiting clarity from Cabinet on the future of controversial e-tolling since July 2019, when it mandated a team to find a solution to what many consider to be a failed system. The Organisation Undoing Tax Abuse (Outa) in September cited Sanral confirming that Gauteng’s e-toll compliance rate before Covid-19 was at 20%, collecting only R60-million a month. Executive engineer Louw Kannemeyer explained that the uncertain e-toll future was resulting in low payment compliance for Sanral, with the agency expecting a credit loss of R10-billion in the current financial year, which negatively impacts on the agency’s ability to finance its toll portfolio in the short term. About R150-billion worth of viable toll projects had been identified for rollout by the agency, but this came to a grinding halt owing to increasing uncertainty about the future of e-tolling. Kannemayer reported that Sanral had a R2.3-billion shortfall on its toll portfolio for the GFIP. Meanwhile, the toll portfolio's short-term funding shortfall is being addressed through transfers from non-toll projects to service debt, which has reduced the agency’s budget for new projects to R5.7-billion in 2018/19 and to R2.5-billion in 2019/20 and 2020/21. Sanral’s non-toll allocation had been reduced by R1.1-billion. Outa says the Gauteng e-toll scheme would have generated almost 25% of Sanral’s revenue from 1% of its road network, had the province’s road users paid their e-tolls. It stated, however, that this would have been a grossly unfair "user-overpays" scheme through which Gauteng residents would have been milked to fund other projects that its users were not using. During its briefing with the Select Committee on Transport, Public Service and Administration, Public Works and Infrastructure on October 7, Sanral confirmed that it had scenario-led operational plans during the lockdown and up to March next year, when its 2020/21 financial year ends. The agency’s construction sites were at 100% capacity from August, while the agency expects 100% staff capacity from offices from February next year, compared with the current rate of 50% of staff working from home. Sanral acting business operations executive Adolph Thomas said Covid-19 had disrupted the agency’s operations in that its financial year-end and audit processes were disrupted, as were its supply chain, with longer lead times. The biggest impact of the pandemic was evident in Sanral’s slow budget expenditure, owing to the suspension of construction activities and project delays, and its revenue loss as a result of reduced traffic on toll roads predominantly during the second quarter of the year. CFO Inge Mulder said Sanral has 1 209 projects in its “approved” pipeline, with 982 of them being nontoll projects and 227 toll projects, the latter for which the capital expenditure funding remains uncertain. For the 2019/20 financial year, Sanral had total assets of R462-billion, compared with total assets of R412-billion in the 2018/19 financial year, with liabilities worth R130-billion in the year under review. The ...
In this week's episode, we talk to Leroy Slava about his property journey. Leroy is a husband, a father to a 20-month-old daughter named Hope, a Christian and a full-time property investor. He currently owns 35 properties but his property journey started by mistake - he was a drug addict for 10 years, since grade 10. When he was 20 his father passed away and left him a house, at the age of 25 he decided to move closer to his mom so he sold the house for R300,000 (US$18,000) to a buyer who then turned around and sold it for R600,000 (US$36,000). This incident triggered his interest in property. He started going to auctions, looking for cheap properties, when he got there his perception of money was forever changed - he arrived at the auction and saw guys in Orlando Pirates and Kaizer Chiefs (South African soccer teams) t-shirts, buying 4 properties. He befriended them and started asking them for advice on selling and flipping houses and they shared their knowledge with him. A year later, he took some of his money and also borrowed money from his mom and bought his first house at an auction. He made a R60,000 (US$3600) profit from the sale of the house. After that, he went and bought the wrong house twice and was able to make R224,000 (US$13,400) profit from the sale of one of the houses. One day his sister, Candice Van Wyk (Episode 17), received an invite from the Rich Dad seminar, it was here that he learned about cashflow and deal analysis, which started him on a buy to let strategy and a focus on creating monthly cashflow. Click play to listen to this week's episode and leave us a note in the comments section below.
Cabinet’s failure to make a decision on a funding mechanism for Gauteng’s freeways is affecting long-term road planning and allows the South African National Roads Agency Limited (Sanral) to avoid responsibility for an incoherent e-toll collection strategy, says the Organisation Undoing Tax Abuse (Outa). Outa says in a statement that the Cabinet mandated a team more than a year ago, in July 2019, to find a solution to the failed e-toll system in Gauteng, promising a decision within two weeks. “We’re still waiting.” Outa notes that Sanral CEO Skhumbuzo Macozoma confirmed earlier this month that Gauteng’s e-toll compliance rate before the Covid-19 pandemic was at 20%, collecting only R60-million a month. “The Gauteng e-toll scheme is significantly different to Sanral’s other boom-down toll-plaza collection mechanisms,” notes Outa. “In the first instance, Gauteng daily commuters were expected to pay for using urban roads, whereas the other toll schemes situated on national economic corridors are less intrusive on the cost of living for daily commuters. “Secondly, if Sanral wants to introduce a drive-now-pay-later electronic tolling scheme in any city, it needs to ensure that these systems are workable, efficient and promote the public’s willingness to participate. “Sanral got this horribly wrong and collapsed the system through its own mismanagement and poor leadership.” Outa says it does not object to privately funded road infrastructure projects, which are done on a build-operate-transfer basis with the State. “This is precisely what is taking place on the long-distance economic corridors and these work because they are manageable through 100% [toll payment] compliance rates.” “To add to its woes, Sanral’s overpayment at R18-billion for the Gauteng freeway upgrade was more than double the price that should have been paid,” adds Outa. “In addition to the overpriced construction costs, we uncovered that the e-toll collection contract increased without explanation by 61% after the tender was awarded and for years they [Sanral] misled the public on the e-toll compliance levels. This is no way to win the trust of the public. “The Gauteng e-toll scheme would have generated almost 25% of Sanral’s revenue from 1% of its road network, had it got its way with the Gauteng road users. This would have been a grossly unfair user-overpays scheme through which Gauteng residents would have been milked to fund other projects that its users were not using. “The quicker Sanral and the State accept their folly on the e-toll decision and that it will forever remain unworkable, the sooner they may decide to pull the plug on the defunct scheme.”
In this week's podcast, we invited Nqabenhle Manana (episode 28) back onto the show to talk to us about a property fund he is starting - Masibambisane Property Fund 2. He already has a fund - Masibambisane Property Fund 1, that he started 5 years ago and that has matured and is now paying dividends. He started Masibambisane Property Fund 1 when he found himself having to forego a few property deals because of lack of funding. This happened 3 times, the fourth time, he found a deal for 48 properties, and could only afford 20 of those properties, he asked the seller to give him 3 months to raise the funds, so he could buy all 48 properties. He raised R1.7 million from retired professionals (mainly women) in Kwazulu Natal, South Africa and the fund was born. The fund has since grown to R3.4 million over the last 5 years and has matured. At the end of 2019, the fund had a return on investment of 83%. So, if you'd invested R100,000 (US$5,900) with his fund 5 years ago, then your investment would be worth R180,000 (US$10,545) today and you would be getting dividends annually, starting at the end of this year. Now, Nqabenhle has decided to launch Masibambisane Property Fund 2, with the aim of buying buildings in the inner city in Johannesburg, South Africa. The aim of this fund is to raise R20 million from investors and to bring in R60 million in debt, in order to grow faster and buy more buildings. The fund is currently open to investors and closes on December 31, 2020. The minimum buy-in is R100,000, but individuals who have less money can still invest in the fund, so don't disqualify yourself just yet, you can contact Nqabenhle to find out how you can get involved. The fund is open to everyone, including those in the diaspora. This is an incredible opportunity for busy investors and we are super excited about this podcast episode and the fund. Click play to listen to this week's episode and share your thoughts with us in the comments section below.
The Council for Scientific and Industrial Research (CSIR) reported on Wednesday that load-shedding during 2020 had already surpassed that of 2019, which had hitherto been the country’s worst-ever year for load-shedding. In addition, it again warned that, absent urgent action, the risk of load-shedding would worsen and persist for at least two more years, but possibly to 2025. The CSIR released its latest load-shedding analysis as Eskom issued a fresh alert on August 12, warning that the system was severely constrained, owing to a combination of delays in returning five units to service and the breakdown of two additional units, at a time when unplanned maintenance stood at 11 000 MW and planned maintenance at 5 500 MW. A day earlier, CEO Andre de Ruyter told the Cape Town Press Club that the risk of load-shedding would persist deep into 2021. The CSIR analysis, compiled by Dr Jarrad Wright and Joanne Calitz, shows that load-shedding for the year to date stood at 1 383 GWh, or 661 hours of outages. The figure was already higher than the 1 352 GWh shed in 2019, which was regarded as the country’s most intensive year of load-shedding, with Eskom having taken the unprecedented step of declaring Stage 6, or 6 000 MW of cuts, on December 9. Load-shedding had re-emerged despite Eskom having performed opportunistic maintenance on its coal fleet in March and April, following a sharp slump in demand that coincided with South Africa’s Covid-19 lockdown. Wright told participants to a webinar hosted jointly by the CSIR and GreenCape that, during the country’s Level 5 lockdown, peak demand slumped to 27.4 GW against an expectation of 31.2 GW, while minimum demand fell precipitously to only 13.8 GW. Demand had since returned, along with the threat of load-shedding, with the rotational cuts instituted in July pushing it to levels higher than those experienced last year. Overall, the CSIR expects that residual electricity demand will reduce by 12 terawatt-hours (TWh) in 2020, to about 209 TWh, relative to forecasted residual demand of 221 TWh for the year. The CSIR had also modelled the impact on security of supply in the “likely” scenario that both demand and the energy availability factor (EAF) of Eskom’s fleet remain below the assumptions used in the Integrated Resource Plan of 2019 (IRP 2019). Using a demand forecast of 267 TWh by 2025 as opposed to the 284 TWh assumed in the IRP 2019 and an EAF of 64% as opposed to the 75.5% assumed in the official plan, the analysis points to major capacity and severe energy shortages for the period to 2025. The capacity supply gap would range between 5 000 MW and 8 000 MW, while the yearly energy gap would be between 500 GWh in the outer years to as high as 4 500 GWh in 2022. Should such energy shortages arise, the yearly economic costs are estimated at between R60-billion and R120-billion, based on a cost of unserved energy of R87.50/kWh. Wright said that “critical decisions and actions” were required to address the risk, including: addressing the regulatory constraints to self-generation by businesses, municipalities and households; renegotiating the power purchase agreements with existing wind and solar farms to mop up any excess supply that is available; accelerating the implementation of the Risk Mitigation Power Purchase Programme (RMPPP); and implementing the IRP 2019. Enabling a “customer response at scale” by easing the regulations governing self-generation would have an “immediate impact” on reducing the risk of load-shedding, while projects associated with the RMPPP and procurements in line with the Ministerial determinations that have followed the publication of the IRP 2019 would only begin to have an impact in 2022 and 2023 respectively. It is understood that bid documentation associated with the RMPPP could be released within days and that the National Energy Regulator of South Africa has now concurred with the Ministerial determinations that wil...
Business Day TV — Steven Schultz from Momentum chose Firstrand as his stock pick of the day. "Stock pick this evening is FirstRand, I suppose its operating in a very challenging environment but, they have a pretty strong balance sheet at present. It's trading at the bottom of its two-year trading range, the thesis for FirstRand at present is an abundance of liquidity globally so, central banks are obviously going to remain in print mode and as a result we think there's definitely going to be a sustainable carry trade over the coming months if not years. The carry trade we think, is going to support local bond yields if not push local bond yields slightly lower and as a result of our very absent inflation locally. If that does happen, we think that rate sensitive assets like the bank shares and FirstRand for example will benefit from a bit of a rewriting. Base case for us is 17% return per annum for the next three years in our model and I think if you can purchase under R60 its a good buy"
This is our very first live recording in Cape Town, and what a pleasure it was. Our conversations with you change the way we think about our money. Also, seeing people laugh at your stupid jokes instead of hoping to goodness that someone finds you funny is a wonderful ego boost. This week we help Antony figure out if it's time for his family to self-insure their medical aid. While the consensus seems to be that it's not worth the risk, I enjoy playing Devil's Advocate. There's more than one way to skin a cat. I still maintain it can be done, albeit with a fair degree of footwork. From our live audience, we field questions about family and money, fear and optimism regarding the future of the country and fees. We also get to answer some listener questions. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Antony Over the last 30 years I have contributed R2m in today's money to a medical insurance fund, but have only claimed R100k for the birth of three children. I realise that insurance is a sunk cost, but I classify myself and family as above average healthy and medically low risk. I retired this year at 50 and have a sizeable investment portfolio. I have discussed with my three children if we should start our own "medical insurance”, and they are very keen. I plan on starting off the fund with a lump sum and having each child contribute per month to the fund. Both my wife's and my parents are deep into their 70s and are spending an annual amount of R40,000 but are contributing R60,000 to their medical aids. At what stage of financial independence do I (or others) medically self-insure if I believe my family to be low risk? Audience questions If we get downgraded to junk, is there an opportunity to be had if we're young and can ride out the volatility ? Or should we just keep on with our current strategy ... What are your suggestions for saving for someone unable to work or manage their own money due to a mental illness? How do you talk about financial planning to a partner or a parent who doesn't like thinking/talking about money ? When do you draw the line on moving for lower fees? I've moved once from old-school policy to 10X, but 1% is still a lot these days. Now tempted to move to Sygnia. But at some point a new player will offer even lower fees, or 10X will drop, or Magda will increase. Would be expensive to keep moving. Richard Is there any reason to invest locally? The JSE offers very traditional sectors - finance, resources and retail. Is there any room for significant growth, particularly in a stagnant economy? There's no tech (bar Naspers), no bio-tech, no AI, I would even settle for marijuana stocks at this point or any sector which could provide some sort of upward momentum. If you are 20+ years away from retirement, wouldn't the fact that the Rand structurally weakens vs US$ over the long-term benefit your investment? Mike I have TFSAs for myself and my two kids, with four ETFs and one balanced fund in each of them. As you know every quarter those generate dividends, which I re-invest. My question is what is the best way to distribute the reinvestment? Split the available cash evenly across the funds so the purchase values remain equal. Distribute according to which fund generated which dividend. Use cash to rebalance the funds so current values get closer to being equal. Nick I've listened to your show for some time now, but I can't make up my mind about how to handle my current situation. I have a big bond on my home as a result of a foolish impulse to keep up with the Joneses. If I liquidated all my other investments I could settle half, maybe more, of the bond. If I included other long-term investments like pension and RAs, I can cover more than 100% of the bond. More than 50% of my equity investments are fully offshore. More than 50% of my local equity investments are also invested in Rands in offshore ETFs and unit trusts, the rest in Sygnia and 10X RAs. I have a decent percentage of hard currency and local currency equity investments. But the interest on my bond alone is R22k/month. Should I reduce the amount of the bond to reduce interest payments to a more manageable level? I can't sell the house (unless I get divorced). I am trying to cut other expenses down to fund bigger bond payments but it's been tough and our expenses are stretched. I can't bear the thought of selling equities to repay debt and then watch the debt become nearly worthless anyway and the equities increase in value.
Die renosterteler John Hume, besit minstens1 700 wit-renosters. Sy broeipare sorg vir 200 kalfies per jaar. Dit kos hom egter sowat R60 miljoen 'n jaar om hulle teen stropers te beskerm, en sy finansiële bronne is weereens byna opgedroog. Hy't aan Marlinee Fouche gesê hy gaan nou 'n reuse stuk grond naby die Kruger Wildtuin opveil, in 'n desperate poging om sy diere te kan beskerm.
South Africa's middle-income consumers on average spend 25% of their take home monthly income to pay interest accumulated on debt. This is according to FNB's analysis of money management behaviour of its Retail banking customers who earn between R7 000 and R60 000 per month. The bank says its data paints a picture of households that are heavily reliant on unsecured debt to get through each month. For more Elvis Presslin spoke to Dr Christoph Nieuwoudt, FNB Consumer CEO and began by asking him to elaborate on their findings ....
A friend recently discovered a financially dependent parent had a huge amount of credit card debt. This revelation turned the dinner table conversation to the financial health of our parents. Of the seven of us, only two weren't worried about their parents' financial future. Naturally we proceeded to drink heavily. I find it much harder to speak to family members about money than to anyone else. Our parents managed to raise functional, financially secure members of society. After that significant achievement it can't be easy to admit that you need help from the sprouts you raised. I hope this week's episode will provide a glimmer of hope if you happen to find yourself in a similar situation with your parents. Nothing can be done about the late hour, we admit, but if you can find a way to speak to your parent about their situation (I haven't yet worked this out), you might just be able to find a creative solution. Ruben asked: My father is turning 60 next year with no pension/investments or even a house. I estimate he could work for another 5-10 years at his own business. How can I invest to help him with income for retirement? Twitter Daniele asked: I pay my mom rent. Should I put it in a TFSA for her instead? She has a company pension fund so this would supplement it. I am having a hard time convincing her that it is still a good idea to invest in a TFSA even though she is nearing retirement. She works for a bank's investment arm. Would they allow her to open up an account with another provider like EasyEquitites? The TFSA and UT fund options (no ETFs) for her bank are pathetic (fees). Get Down Adam I am 32, I graduated as a doctor two years ago. Financial people with various levels of qualification and pizazz came to sell us their products. The bottom line was that you had to have started investing at 24 (which was the age of my peers). I was already 6 years behind so I went into panic mode. Two years into the real working world again, I've paid off my student loan of R110,000. I only have about R60,000 left on my car loan. I have sadly given up on buying coffees, and I'm back to that instant coffee shit. I limit my spending as far as possible. 22seven is my most used app. Because I didn't understand what was happening when I started my investment journey, I signed up for a Liberty RA investing in Liberty Medium Equity (C) as well as a Stanlib Tax Free Global Equities Feeder (A). I recently bought the Coronation Market Plus Fund simply because they had a promotional sign up bonus of 10% which I thought couldn't hurt. I own a flat with my sister (which our parents bought for us). We rent it out and receive about R6,000 income a month from that. Recently we have been putting R500 a month into Easy Equities and playing around with ETFs. I have tiny amounts in: Cloud Atlas AMI RealEstate exSA Ashburton Global 1200 Satrix Top40 Stanlib S&P500 Stanlib Global Government Bonds I also have fuck you money shares/FSR in: Netcare (what a disaster) Montauk Energy Capitec We also have some cash stashed in an ABSA fixed deposit to cover maintenance etc. My own emergency funds are modest for now, but I'm building in a 32 day fixed deposit in FNB. Am I playing with too many variables? Are there too many ETFs? How do I know if I have saved enough? What's the difference between building a portfolio and just sommer buying shit and hoping you're right? Please fix me, or at the very least tell me I can drink decent coffee again. Frank shared a great graph he found of a married couple's shared finances. I'll include a link in the show notes. There's a line item in the graph called “blackmagicfuckery” which is how they account for money that fell through the cracks. Jorge wants to know if he can withdraw profits from his tax-free account without affecting his lifetime limit. Jon-Luke is a freelancer in his 40s. He has no debt except for a house he'd like to renovate. He works in TV when there is work, but the industry has been going through a dry spell. He had money saved for renovations on his house, but he's had to use all of that last year when work dried up. He aims for an emergency fund of 8% of his portfolio, but he's currently sitting at just over 2.5%. In the next few years I can envision a bumpy ride in my chosen profession. The probability is high that I may need to draw my emergency fund down again it won't last as long as I need it to. Should I do what I would have done in the past and go into my overdraft and credit cards or should I draw out of my Share Portfolio? Keep in mind that this would be for short term periods of 3 to 9 months. My instinct would be to leave my shares alone and give them the chance to grow. I am also on a strict plan to downscale my spending and to save more… My goal is to be saving 25% of my earnings by the end of next year, but getting there is a bit of a delicate process especially considering the current conditions in the Film Industry. Also I am loathe to sell my current house until I've had a chance to do the renovations I planned. There's some money to be made here for sure! G-Boi has taken his expensive RA by the horns. I've moved my RA from Sanlam to EE and opened a TFSA with EE. Should I max out my TFSA, then contribute to my RA? Or equally contribute to both my RA and TFSA. You and Simon made me feel so shit about the RA trap, at least I made the move to EE so that I can control it and don't have to pay 4% Ter every year. Luvuyo wants to know if we think rewards programmes are worthwhile. Do you think certain rewards points is to your benefit financially? I have an Investec Account which gives decent rewards points (obviously not as great as ebucks that everyone tells me about), a Dischem, Clicks, Woolies & a The Entertainer account and I only buy clothing through a family member that works at a clothing store at a massive discount. Do you think that using discount and reward offerings can materially affect keeping lifestyle costs low so that you free up funds to invest or am I just a cheapskate that gets slightly marginal benefits from the above? Johannes wants to know if I'll do a spreadsheet on all the costs involved in purchasing a home. I'd be happy to do this if the purchase goes through. So far I've spent R453 on sectional title and title deed reports. If the home loan gets approved, I'll spend a further R2,875 on an inspection. That brings me to R3,300 before anything has actually happened.
When we get into debt, we think it's a temporary state of affairs. We'll get rid of it once we earn more money. However, nothing is more delicious to a financial institution than an indebted individual getting a raise. As our income increases, so increases our access to credit. Think of someone you know who appears to be very wealthy. Now think about the debt required to maintain that appearance. An expensive home loan, car debt, credit cards and store cards all work together to make it seem like money is no object. As we discuss this week, the price we pay to appear wealthy is often the very thing that destroys true wealth. This week Rinaldo inspired us to tackle debt in high-income households. I am a high income earner with money problems… I contribute 18% of my salary to my employer provident fund and R500 a month to an education endowment plan for my boy who is five years old. That is the sum total of my investments. Oh, and I bought a buy-to-let apartment two years ago and what a disaster. Battling to sell the money-chowing, headache-causing thing now. I need to invest more but I've got the following bad debt: Credit card of R40,000 at 14.5% interest Revolving credit of R40,000 at 17% interest Overdraft of R60,000 at 15% interest I've got a deficit in my budget due to the credit repayments and I'm considering a debt consolidation loan, but don't want to stuff up my credit record which is rather good because up until now I've serviced my debt well. Should I consider a consolidation loan and where and what will be the impact on my credit score? No emergency fund, which caused the debt. How did you do it?
Simon Shares Stor-age (JSE code: SSS) results were totally solid and in a very niche property space that is doing very well. When they listed a few people recommended them to me and I wasn't convinced. Well I was wrong. Sasol* (JSE code: SOL) was one of the first stocks I ever bought and my longest holding in my 'til death do us part' portfolio having first bought it around 1994. A few years ago I gave serious thought to exiting, but held on albeit deciding not to add any more to my portfolio. But I have been thinking and digging and frankly it is a change company and looking good. The Lake Charles project has been a mess in terms of cost over runs, but it is now nearing completion and that means two important points. Firstly, no more spend on the development and secondly in a few years the profits will start to flow from the project (even if they're not as great as promised). So I am starting to buy again, however my usual pricing methodology doesn't work here for two reasons. Massively cyclical always breaks my method and Lake Charles changes things. So asking around the view seems to be that HEPS of some R60 is possible for 2021 and if we apply the average PE of 9.3 that equals a price of R558, so that's my fair value and I am happy to buy at the current R488. Help, I've lost money! OUTstanding Money: Types of savings * I hold ungeared positions. I don't own offshore In the last few weeks a number of people have asked me about what offshore shares I own. The answer is simple, none. I do own a small holding in VOO which I bought in 2002 with some offshore money I earned, but that's it. Here's the thing, I know a lot about the local market and a little about even the smallest shares on the JSE. I have spent literally decades investing and trading on the JSE and hence decades building my knowledge of our market. Further it certainly helps that it is a small market, so it makes life easier and let's not forget that watching and studying the JSE is in part my job. But as soon as I step offshore the size and complexity of the market is frankly over whelming. The NYSE has three times more ETFs then the JSE has stocks. Globally there are some 100,000 stocks. How does one select which are the best of the best? This is more than a full time job, this is a full time job for a full sized team. Chatting to somebody recently they mentioned they wanted to buy Honda. I have no idea if it is a good stock or not. But what of the other US motor companies (Fiat Chrysler, Ford, General Motors, Tesla, Toyota) and then what of those listed in Europe where there are even more listed? Does Japan have any listed? Suddenly you have to be an expert on dozens of motor stocks to decide if the one you want is the out and out global winner. Now I know the response. In the above example we don't have a single motor company we can invest in. Our Tech stocks are frankly wildly boring and disappointing, Naspers (JSE code: NPN) the exception, a lucky exception. Our market is small in more than just number of stocks, it is also small in terms of industries. But we can buy a tech ETF, and yes we can't buy a motor company ETF. But I am comfortable with that because frankly the risk is I buy the wrong motor company anyway. Am I being lazy? Maybe. Or maybe I am being realistic abut my abilities and time available to become an expert. These days I get offshore exposure via dual listed and global companies and locally listed offshore ETFs, keeping it nice and simple. Another issue with offshore is costs, it is a lot cheaper investing offshore then it has ever been for South Africans. But it is still not cheap and with offshore assets you now also need a second will in the country in which those assets are held. More costs and more complexity. Here's a random stat to show how little we know. Google (Alphabet) and Dominos Pizza both listed in 2004. Which has a better return since listing? Two revolutionary companies went public in the summer of 2004. These are their returns... Google (Alphabet): +2,020% Domino's Pizza: +3,607% pic.twitter.com/SOtqOHjM4a — Charlie Bilello (@charliebilello) May 29, 2018
Fourteen million of our people go hungry daily but we dump surplus and wasted food valued at R60-billion per year. In studio, Attorney Nastascha Harduth explains how the law is starving the poor. How we die is a question that concerns every single mortal being. The team talks to Professor Sean Davison who gives his opinion on the Supreme Court of Appeal judgement handed down last month in the Robin Stransham-Ford case. Litigation is expensive and comes with enormous risk. With Litigation Funding available in South Africa, the legal landscape has changed for those who would not normally have access to our courts. Simon Kuper and Gary Sweiden are in studio to explain the concept. www.cliffcentral.com
CliffCentral.com — Fourteen million of our people go hungry daily but we dump surplus and wasted food valued at R60-billion per year. In studio, Attorney Nastascha Harduth explains how the law is starving the poor. How we die is a question that concerns every single mortal being. The team talks to Professor Sean Davison who gives his opinion on the Supreme Court of Appeal judgement handed down last month in the Robin Stransham-Ford case. Litigation is expensive and comes with enormous risk. With Litigation Funding available in South Africa, the legal landscape has changed for those who would not normally have access to our courts. Simon Kuper and Gary Sweiden are in studio to explain the concept.
Intelligent Africa™ — CliffCentral.com — He left a big job with a top company to start his own thing. Ten years on, Jason Ray is making R60 million+ a year. How did he do it? Listen to this #FutureCEOs conversation.
CliffCentral.com — He left a big job with a top company to start his own thing. Ten years on, Jason Ray is making R60 million+ a year. How did he do it? Listen to this #FutureCEOs conversation.
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