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A controversial gas tender awarded to a man who was named 176 times in the Mpati Commission report into malfeasance at the Public Investment Corporation (PIC) should be terminated with immediate effect. That is the call from Kevin Mileham, the Democratic Alliance's (DA’s) Shadow Minister of Mineral Resources and Energy following earlier warnings by his party that Equator Holdings “run, owned, and managed” by Lawrence Mulaudzi does not have the money and technical skills to fulfil the tender requirement of rebuilding PetroSA’s critical gas infrastructure - and is now “shopping around” for potential funders and technical partners for the project. “PetroSA is a failing State-owned entity. And you don't fix that by giving tenders to cronies,” Mileham says. Meanwhile Energy Minister Gwede Mantashe “is very, very quiet about this whole issue” - and is “more interested in campaigning right now than in dealing with the issues in the entities that are under his control”. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

In a wide-ranging, pre-election preview, United Independent Movement (UIM) President Neil de Beer torpedoes rumours of a Multi-Party Charter (MPC) collapse; gives his take on the daggers flying in former President Jacob Zuma’s MK party; and hails Patriotic Alliance (PA) President Gayton McKenzie’s combat strategy, saying the “Green Machine” is moving down to the Cape like an “oil slick” and has left the Democratic Alliance (DA) overwhelmed by the Brown Child Revolution. He discusses a post-election three-faction scenario comprising the MPC, the RET (Radical Economic Transformation), and the African National Congress (ANC). “And the question is, whom of those three are going to have coffee with whom, except I know they already having coffee.” However, De Beer vows that his UIM party would never form a government with the ANC or the Economic Freedom Fighters (EFF). “Then we go it alone. We cannot sit with this country's fiscal, economical enemy.” Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Patriotic Alliance (PA) President Gayton McKenzie has declared all-out war on the Democratic Alliance (DA) after his recent olive branch to the opposition party “expired”. Speaking to BizNews after another two by-election victories, he says:  “It's war. It's full-out war. We are not playing. I extended the olive branch because I do think that the Western Cape will not be best served with the ANC (African National Congress) coming back…And they then answered that by insulting me…” McKenzie says the PA has been winning 80% of the by-elections it has fought, and he doesn’t think the DA will get 35 per cent of the vote in the Western Cape. Meanwhile, he says Economic Freedom Fighter (EFF) leader Julius Malema understands that the upcoming election is a match between the EFF and the PA. “So I'm saying that if you are a white person, it's no longer time to vote for your normal parties… Let's keep Malema out. I'm the only guy that can stand up to that fool. I'm the only one that can stand up to that mafia. South Africa doesn't deserve a guy like Malema.”

South Africa’s mining investment guru Peter Major has come out all guns blazing against Australian BHP’s “opportunistic” bid for Anglo American. In this powerful interview with BizNews editor Alec Hogg, Major calls on SA’s president and mining minister to step in quickly and promise to reverse legislative mistakes which chased away global investors. Doing so, he says, will save Anglo from BHP’s clutches and turbo-charge the country’s moribund mining sector. Major believes it’s easy to fix - but requires humility and realism from Pretoria. Starting with appeals to an alienated global investment community to stop Wall Street desk jockeys killing SA’s 107 year-old Golden Goose.

Wonderbag was a company established in 2008 methods as a solution to South Africa’s energy crisis providing families with a means to continue cooking daily meals during power outages. Resembling a colourful bag reminiscent of a pumpkin, Wonderbag employs ancient heat retention cooking technology, providing employment and income opportunities to entrepreneurs across the developing world. In South Africa, manufacturing is outsourced to 2000 entrepreneurs, primarily women, providing them with vital income. Founder of Wonderbag, Sarah Collins told Biznews in an interview about the business model she pioneered, her high-profile carbon clients including Sasol, Anglo American and Nandos. She also highlighted South Africa’s role in crafting legislation to bolster carbon credit projects.

President Cyril Ramaphosa does not even know where the Guptas are. That is the riposte from  Glynnis Breytenbach, the Democratic Alliance's Shadow Minister of Justice, to the National Prosecuting Authority (NP) calling in the help of the President to try and fast track the extradition from the United Arab Emirates (UAE) of the Guptas. As for the few billion of State Capture loot recovered so far by the NPA, Breytenbach says “it's not even a drop in the ocean of the trillions and trillions and trillions of rands that we were robbed of - and that government officials and cabinet members assisted crooks to steal from us”.  She calls the close to 700 government officials thus far convicted of corruption “petty thieves” - and says “we need to see people at the top of the scale who stole at a breathtaking pace, held to account”. She also gives an update on the proposed establishment of DA-driven Anti Corruption Commission where prosecutors will have “no fear that their work will be undone by a bunch of politicians who don't like being held accountable”.

*This content is brought to you by Jaltech In a recent webinar, BizNews' Alec Hogg and Jaltech's Jonty Sacks dissected the Section 12B solar investment incentive and unveiled Jaltech's latest venture in this arena. Investors were presented with an opportunity, with the potential to recoup up to 90% of their investment within the first year through SARS refunds and cash inflows. The investment was touted for its promise of dependable cash flows over its term, leveraging electricity sales to reputable commercial and industrial energy consumers in South Africa. Attendees gained invaluable insights into a venture poised to redefine solar investment strategies and capitalise on emerging market trends. For more information: https://www.biznews.com/jaltech-solar-investment-taxes.

Australian mining group BHP has launched a R650bn takeover bid for SA’s 107-year-old one-time global giant Anglo American – a company now worth just a quarter of BHP’s value. If successful, the deal would merely be “material” rather than “game-changing” for BHP, which is attracted by its rival’s South American copper mines. A key part of the BHP bid is that Anglo must first unbundle its major South African assets Kumba Iron Ore and Anglo Platinum, which the Aussies don’t want any part of. Veteran asset manager Piet Viljoen explains that this is an opening salvo in what could be a lengthy process. He says the bid illustrates SA’s wealth-destructive political governance, practically reflecting the impact of deteriorating national infrastructure and unfriendly business legislation. He spoke to Alec Hogg of BizNews.

South Africa is a tinderbox waiting for a trigger to explode into violence and destruction. That is the warning from retired General Roland de Vries, the former Deputy Chief of the South African Army. In this interview with BizNews, he shares his in-depth assessment of the threat environment -  and lists the possible trigger events for anarchy in election year. The general warns that the ruling African National Congress  (ANC) government does not  have the capability to protect its citizens adequately – and that it is up to the broader community to protect itself. He also gives his take on coalitions - and expresses concern that "we are going to see political infighting happening as never before and this will cause major political instability in our country". Meanwhile, General De Vries has, over the past seven years, helped over 80 communities develop their own community safety plans to empower themselves.

Leading political scientist RW Johnson explains what led him to investigate a Zuma-supporting, Kremlin-funded media operation - and wonders at Ramaphosa’s inability to accept the reality of Putin’s double play and the ANC’s sharp decline in the polls. Sobering and scary, Johnson’s analysis reinforces the view that SA’s elections on May 29 are shaking up as a make-or-break for the young democracy. He spoke to Alec Hogg of BizNews. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Crime fighter Ian Cameron of the Democratic Alliance (DA) exposes the horrific working conditions in the South African Police Services (SAPS) as yet another member is shot dead on duty with his own gun - this time after the retention cord from the State-issued holster broke. In this interview with BizNews, Cameron reveals a litany of operational issues following the killing: those in the Air Wing helicopter had no proper radio communication with police on the ground; the police drones took over four hours to arrive on the crime scene; most of the cops searching for the police officer’s killer didn’t have torches; there was no Joint Operations Centre or even an operational plan; and the incident commander sent away specialised units because there were “too many people”. Last year (2023), in just three months from July to September, a total of 35 cops were killed - more than 10 a month. Cameron urges South Africans to honour the “large majority” of police officers  “still willing to offer their lives for us at any given moment”. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

It is known that there is invisible gold, which consists of minuscule particles locked inside other minerals in the mine dumps found all over the Johannesburg and Witwatersrand area. What makes Chingwaru’s research noteworthy is that, as a Master’s degree student whose research was upgraded to a PhD, he is the first scholar to calculate that the six billion tons of tailings around the Witwatersrand mines contain up to 460 tons of gold. In an interview with Biznews, Chingwaru said that the tailing dumps in the Johannesburg area are being reprocessed by mining companies, but they are only achieving a 30% recovery rate. He set out to locate the remaining 70% and determine how to safely extract it from the pyrite. Chingwaru’s research has attracted the attention of major mining companies, and he has also received interest from China. Armed with his PhD, he plans to venture overseas to expand his knowledge of mining. However, he intends to return to Africa to promote sustainable mining practices for South Africa and the African continent. Chingwaru is the grandson of the legendary prospector, George Nolan who discovered lithium in Zimbabwe.

During a Q&A session at BNC#6 in Hermanus, BizNews founder Alec Hogg and Mavuso Msimang engaged in a candid discussion covering historical parallels between Brazil and South Africa, education reform, affirmative action, political leadership, and Ubuntu philosophy. Msimang emphasised the need for improved education, accountability in governance, and ethical leadership. Their conversation explored strategies for societal progress amidst challenges, with a call for more effective engagement and reform within political structures.

During a Q&A session at BNC#6 in Hermanus, Peregrine Capital Executive Chairman David Fraser discussed various topics including the hedge fund environment, small-cap investments, and South Africa's state-owned entities. Fraser noted increased hedge fund marketing and traction, particularly with lower volatility and higher returns. He delved into specific investments and challenges facing South Africa, such as load shedding and the future of the JSE. Fraser emphasised a pragmatic approach to investments, seeing potential short-term opportunities in South Africa and long-term potential in tech.

Just as his party is able to use its governance of the Western Cape as a ‘prospectus’ for voters, uMngeni executive mayor Christopher Pappas (32) can point to his own record since taking office in November 2021. And the fluent isiZulu speaker believes it’s a message resonating in a province where there is a growing realisation what you do at the ballot box can make a difference. With support for the ANC collapsing in KZN after the emergence of Jacob Zuma’s MK party, Pappas offers thoughts on the issues which will determine how votes are cast on May 29 - and shares his own message of hope for those in the embattled province. He spoke to Alec Hogg of BizNews. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

South Africa's Police Minister Bheki Cele hurled personal insults at crime fighter-turned-politician Ian Cameron at a heated community meeting in gang-infested Hanover Park this week. Cele went as far as to question Cameron's intelligence. This after Cameron questioned investigations being done poorly and leadership in SAPS being broken while Cele boasts of successful arrests, but without successful convictions. Cameron - who is heading to Parliament for the opposition Democratic Alliance (DA) - says Cele's response proves that he has "no clue about policing". In this interview with BizNews, Cameron also shares a list of names of murder victims he hopes will haunt Cele every time he closes his eyes.

During a Q&A session at BNC#6 in Hermanus, Purple Group CEO Charles Savage and tech guru Stafford Masie teamed up to discuss the potential of Bitcoin as a solution to global financial issues, its adoption trends, and its relationship with other cryptocurrencies. The pair explored regulatory challenges and technological advancements in the crypto space, emphasising the importance of understanding the market before investing. Their conversation touched on Bitcoin's potential role in wealth transfer and the importance of distinguishing between Bitcoin and other tokens. They addressed audience questions regarding investment strategies, legislative risks, and technological innovations in crypto wallets. Ultimately, they underscored the evolving landscape of cryptocurrency investment and its implications for individuals and institutions.

In a Q&A session at BNC#6 in Hermanus, Free Market Foundation CEO David Ansara discussed the intricacies of South Africa's institutional landscape and the challenges of deployment within the government. He emphasised the need for a sensible approach, particularly in light of political interference in economic affairs. Ansara highlighted the importance of private property rights, citing the Free Market Foundation's efforts to distribute title deeds. He warned against corporatism and advocated for a more fragmented approach to governance, drawing lessons from Argentina's experience with statism. Despite complexities, he urges proactive measures to avoid economic turmoil.

During his Q&A session at BNC#6 in Hermanus, Sean Peche emphasised the importance of investing in growing businesses without overpaying, focusing on quality rather than deep value alone. He discussed European banks like ABN Amro and Barclays as attractive investments due to low valuations and dividends. Peche also mentioned his preference for Hong Kong-listed Chinese stocks like Alibaba and Baidu over US-listed ones due to regulatory risks. Despite political uncertainties, he remains focused on fundamentals rather than making investment decisions based on election outcomes.

In a Q&A session at BNC#6 in Hermanus, Alec Hogg and Phil Craig discussed the potential for Cape Independence within South Africa. Craig advocates for a referendum on the matter, emphasising the importance of democracy and self-determination. He addressed concerns about international support, potential economic impacts like the oil and gas discovery, and the necessity for negotiations. Craig also discusses the boundaries and viability of an independent Cape, acknowledging the complexity of the issue. Despite challenges, he remains optimistic about the growing support for Cape Independence.

Every enterprise requires strong foundations and solid processes to succeed. Including politics, as we learn in this interview with DA Federal Council chair Helen Zille, who explains how meritocracy is applied inside SA’s official opposition. Zille also answers questions on the hot topics of the moment, including the impact of Jacob Zuma and MK; preparing for a coalition in national government; the threat of her DA losing its majority in the Western Cape; and the man calling it, Patriotic Alliance President Gayton McKenzie. She spoke to Alec Hogg of BizNews.

The Q&A session at BNC#6 in Hermanus between Alec Hogg and Wayne Duvenage delved into the need for leveraging the constitution and rule of law to hold municipalities accountable for their duties. Duvenage highlighted examples where communities have taken legal action against municipalities to compel them to fulfil their obligations. They discussed the importance of citizen involvement in local politics and the shortcomings of big business in supporting civil society initiatives. Duvenage emphasised the power of collective action in driving change and suggested alternative methods for funding activism. The dialogue also touched on the potential outcomes of upcoming elections, with predictions of decreased support for the ANC and potential growth for smaller parties.

During a Q&A session at BNC#6 in Hermanus, Alec Hogg and GG Alcock discussed the educational backgrounds of successful informal entrepreneurs and the challenges they face in accessing formal financial support. Alcock highlighted the importance of informal learning from family members and peers in entrepreneurship. He emphasised the role of organisations like Altvest in democratising finance and supporting small businesses, especially those led by women. They also discussed the need for transformative policies in housing and local governance to empower informal businesses. Additionally, they explored the rapid digitization of informal economies, with platforms like WhatsApp driving e-commerce growth. Despite challenges, Alcock's insights underscored the resilience and potential of informal entrepreneurs.

Purple Capital's interim results showcase a remarkable turnaround, signalling a shift from startup to long-term player, as CEO Charles Savage explains. Highlighting the scalability of their business, Savage attributes the transformative results to strategic decisions and customer maturation. He emphasizes sustained profitability and resilience, projecting continued positive outcomes. While international expansion remains on the horizon, the focus remains on consolidating their local presence. With a projected annual growth rate of 25%, driven by market forces and customer behaviour, Savage anticipates sustained success. Reflecting on his journey, Savage emphasizes becoming more data-focused and customer-centric, ensuring future growth and confidently navigating challenges. He spoke to BizNews editor Alec Hogg.

South Africans are about to enjoy a massive upgrade in the energy and competence of their lawmakers, with an army of fresh talent injected into Parliament after May 29 ushers in a governing coalition. Among Parly’s debutants who look set to make their mark are activist/broadcaster/entrepreneur Kathy Berman and Prince Zuzifa Buthelezi, son and heir of the late IFP leader. They spoke to BizNews editor Alec Hogg.

During a candid Q&A session at BNC#6 in Hermanus, Corné Mulder discussed the intricate dynamics of upcoming elections, emphasising the potential impact of tactical voting and coalition politics. Mulder scrutinised the ANC's strategies, cautioning against tampering with electoral systems and predicting potential shifts in power dynamics within the party. With insights into party dynamics and potential outcomes, Mulder painted a nuanced picture of the South African political landscape, highlighting the stakes and uncertainties as the nation approaches a critical electoral juncture.

In an enlightening Q&A session at BNC#6 in Hermanus, Magnus Heystek delved into the world of investment strategy. From navigating market uncertainties post-elections to assessing the tech sector's valuation and exploring offshore investment opportunities, Heystek shared valuable insights backed by years of experience. Discover his views on gold investments, India's market potential, and the ongoing challenges of timing markets in a dynamic financial landscape. Gain actionable investment advice and a deeper understanding of risk management from one of South Africa's seasoned wealth managers in this engaging and informative session.

IFP President Velenkosini Hlabisa took the stage at BNC#6 in Hermanus, outlining the party's strategic stance amidst challenges. Highlighting successes in recent elections and governance, Hlabisa addressed concerns about media bias, the Ingonyama Trust, and calls for secession, firmly advocating for unity and effective governance. With a focus on mobilizing voters and exploring post-election scenarios, Hlabisa's session showcased the IFP's proactive approach, resilience, and commitment to driving positive change in South Africa.

Regardless of the outcome of the 29 May 2024 Election, a “federal push is going to be more and more urgent”. So says David Ansara, the CEO of the Free Market Foundation (FMF) . Speaking to BizNews after the launch of the FMF’s campaign for Home Rule, he points out that the capacity of the State has been so fundamentally broken that it's going to take a “very, very long time” to fix. He also calls on the opposition Democratic Alliance (DA) to “recognise its bargaining power” and adopt an “aggresive posture” - in the same way the Economic Freedom Fighters (EFF) would - before entering into a possible coalition. “And the campaign for Home Rule is suggesting that those demands should be aggressive spreading of political power and authority down to the provincial and local level”. As part of the campaign, the FMF has published a paper, ‘Ask Forgiveness, Not Permission: Practical Steps Towards Home Rule in South Africa,’ in which it sets out the legal allowance of a fully-realised federal dispensation.

In his Q&A session at BNC#6 in Hermanus, renowned investor Piet Viljoen shared insights on his nuanced approach to property investment during an engaging discussion with Bronwyn Nielsen. Viljoen emphasised the importance of strategic capital allocation, patience, and emotional control in navigating market cycles. Touching on various topics including ESG investments and activism, Viljoen's pragmatic perspective offered valuable guidance for investors amidst evolving economic landscapes.

In his Q&A session at the BNC#6 conference in Hermanus, Capitec CEO Gerrie Fourie shared insights on optimism, innovation, and South Africa's future, emphasising the importance of mindset, education, and seizing opportunities. He discussed challenges in reducing cash transactions, expanding business banking, and leveraging AI for growth. Reflecting on Capitec's journey, he highlights the pivotal moment when the company's flywheel began to gain momentum, leading to exponential growth and transformative impact.

South Africa grapples with a crisis of gender-based violence, recording some of the world’s highest rates of violence against women and girls. To address the urgent need of sexual assault victims in the Cape, Professor Wolfgang Schöneberg and Dr Edwin Herzog spearheaded a collaboration with a group of stakeholders including the National Prosecuting Authority (NPA). It has resulted in the establishment of the first-of-its-kind Stellenbosch GBV centre in Ida’s Valley, which opened its doors in February. Adv. Bonnie Currie-Gamwo, the Special Director of Public Prosecution: Sexual Offences and a pivotal figure within the GBV Leadership Group, sheds light on the escalating rates of GBV, despite numerous interventions, in an interview with Biznews. She highlights the diverse range of victims, spanning from children as young as six to individuals in their fifties and males, who have found solace and support within the newly opened centre. Currie-Gamwo emphasises the crucial role played by collaborative efforts between the private and state sectors in providing comprehensive care for victims of GBV, expressing her aspirations to replicate this model across South Africa.

Following a weekend marked by harsh criticism from Naspers-owned media outlets and disparaging comments from the DA’s leader, Patriotic Alliance president Gayton McKenzie is advocating for harmony among opposition parties. The influential political figure points to the irony of this discord between opposition political parties whose prime objective should be unseating the ANC on May 29. Undisturbed by the controversy surrounding his efforts to enlist a DA councillor in its razor-thin majority Saldanha council - citing a ‘leaked’ hour-long recorded conversation whose content he firmly stands behind - McKenzie emphasizes the need for opposition leaders to exhibit humility and unite to dethrone the ANC. BizNews’ Alec Hogg sat down with McKenzie for an exclusive insight into his perspective - and the surprise offer of an olive branch to his persecutor-in-chief.

In his Q&A session at the BNC#6 conference in Hermanus, crime fighter and DA MP candidate Ian Cameron reflected on his years fighting violent crime, particularly in South Africa's troubled areas. He emphasised the need for community mobilisation within legal frameworks to combat crime effectively. Cameron anticipated a shift from civil society to political engagement, aiming to influence policy directly. He discussed his potential entry into Parliament and highlighted the importance of accountability in governance. Cameron also addressed issues like illegal firearms, advocating for a comprehensive approach involving both community action and law enforcement reforms.

Cy Jacobs, co-founder of 360NE, offered a deep dive into investment strategies and market insights during the Q&A session at the BNC#6 Conference in Hermanus. Discussing various topics, Jacobs shared his perspectives on companies like Tencent, Yourplay, Prosus, and Naspers in relation to the Chinese market. He also delved into investment opportunities in emerging markets like India and cautioned about the expensive valuation of companies like Discovery. Jacobs highlighted the risks and opportunities in Chinese tech companies, the impact of geopolitical tensions on investments, and the challenges and strategies involved in managing a hedge fund for consistent returns. His insights provided a comprehensive view of navigating global markets amidst geopolitical uncertainties and market dynamics.

The water crisis in South Africa is “like a massive avalanche that is coming down the mountain”.  So says John Endres of the Centre for Risk Analysis. And he warns: “…I do not think that the government at the moment has a way to stem the avalanche”. Endres thinks that the current “urgency” being displayed by the government is “temporary” - and “a reflection of electoral panic”. He discusses concerns that water might become a national security issue ahead of the election. “…it's also relatively easy to disrupt…fiddling with the infrastructure, creating a bit of vandalism, creating a bit of chaos…” Endres says if the African National Congress (ANC) remains in charge after the election, “it needs a change of heart and…a bringing in of the private sector on honest and equitable terms rather than using it as a method of propping up the support levels in the elections”.

Polling results released today by the Social Research Foundation show a continued slide in support for SA’s ruling political party. SRF chairman Dr Frans Cronje says the poll’s conclusions on the impact of Jacob Zuma’s MKP are consistent with what has been reported in other recent polls. The newcomer’s current 13% slice has established it as SA’s third biggest political party behind the ANC and Democratic Alliance (25%). Cronje outlines the possible alternatives for politicians, and by extension all South Africans, in the unlikely event that these figures are held in the next 49 days. He spoke to BizNews editor Alec Hogg.

In a Q&A session at BNC#6 in Hermanus, PA President Gayton McKenzie asserted his leadership ambitions and vision for South Africa in a dynamic exchange. McKenzie emphasised his ambitions to be premier in the Western Cape, highlighting the region's diverse demographics and his commitment to breaking traditional voting patterns. Amid coalition challenges in Knysna, McKenzie critiqued governance and vowed water accessibility for all. With bold promises and sharp criticism, McKenzie sparked debate on race, leadership, and socio-political dynamics in South Africa.

Judges in MK Party/Zuma case against IEC, ‘took the soft option’ – Prof Theo Venter Former President Jacob Zuma can contest the election as one of the candidates for the uMkhonto weSizwe Party. It follows after the Electoral Court dismissed the Independent Electoral’s (IEC) objection to Zuma’s inclusion because he has been convicted of a crime. It will mean that Zuma could be back in Parliament if the MK Party garners enough support on 29 May. Political analyst, Prof Theo Venter said in an interview with Biznews that the judges took the soft option rather than strictly adhering to constitutional principles. Zuma, he says has the cunning ability, like former U.S President Donald Trump to put the system under pressure. Venter said he believes that the five judges on the bench were swayed by extra-judicial issues like the potential for violence. Should the IEC decide to take the matter to the Constitutional Court, Venter said it would not be before the elections. He described the May elections as almost unpredictable, now. Zuma’s inclusion on the MK Party’s ballot is going to be a game-changer, Venter said.

A landmark agreement has been signed for a R9 billion innovative nuclear reactor in South Africa. In this conversation with BizNews, the partners to that agreement Stephen Edkins and Warren La Fleur of Koya Capital and Dr. Kelvin Kemm of Stratek Global, share the details and provide a timeline. The First of a Kind (FOAK) Small Modular Reactor (SMR) will have the capacity to generate 100MW of heat and 35MW of electricity. It is expected to break ground before the end of the year. Apart from the South African market, there's been “a lot of interest” in the venture, not only from African countries, but from countries like Australia, Canada, Indonesia, and the Middle East.

In a dynamic dialogue with entrepreneur and [retired] political activist Rob Hersov at BNC#6 in Hermanus, the BizNews favourite delved into the intricacies of South Africa's political landscape and the impending 29 May elections. Hersov emphasised the potential formation of coalitions, foreseeing a delicate balance between the ANC, DA, and Patriotic Alliance. He underlined the paramount importance of protecting property rights to avert economic collapse and also touched on foreign influences, economic strategies, and the role of leadership in advocating for change.

Mmusi Maimane, the leader of Build One South Africa (BOSA), discussed his political inspiration and strategy at the BizNews Conference BNC#6 in Hermanus. Drawing parallels with Macron's centrist approach, Maimane emphasised pragmatic solutions over ideological divides. He highlighted BOSA's focus on citizen empowerment, transparency in candidate selection, and grassroots engagement bolstered by a robust online presence. Addressing challenges such as voter intimidation and the need for job creation, he outlined a vision for a post-ANC South Africa, appealing to dignity and shared prosperity. With a strategic organization of over 40,000 activists, Maimane aims to shift the political landscape towards a centrist, values-driven governance model.

During his Q&A session at BNC#6 in Hermanus, Frans Cronje discussed the shifting landscape of South African politics, emphasising the inevitability of coalition governance. He highlighted the decline of ANC dominance, suggesting a future where no single party holds executive control. Cronje underscored the importance of private actors navigating this transition for societal progress. Despite concerns, he believes in the resilience of institutions against worst-case scenarios, advocating for policies fostering economic growth and certainty to unlock business investment.

Political scientist RW Johnson shook up the BNC#6 conference in Hermanus with his explosive insights on the ANC's uncertain future. Revealing unprecedented polling data, Johnson highlighted the meteoric rise of MK and its potential to disrupt the political landscape, leaving the ANC scrambling for coalition partners. From KwaZulu-Natal's seismic shifts to the Eastern Cape's unexpected dynamics, Johnson painted a vivid picture of South Africa's evolving political landscape. As smaller parties gain traction and youth apathy looms, Johnson's stark assessment leaves attendees pondering the nation's trajectory and the elusive search for a way out of the current political quagmire.

In the question and answer session after his keynote address at BNC#6 in Hermanus, Herman Mashaba, president of ActionSA, defied pollster predictions, highlighting his party's growth and anti-corruption stance. He championed tough measures against crime and emphasised merit-based governance. Mashaba's entrepreneurial background informs his pragmatic approach to politics, focusing on fiscal responsibility and service delivery. He dismissed concerns over the ANC's grip on power, prioritising voter choice. His message promoted a united, prosperous South Africa built on empowerment and opportunity.

When UCT student Alexandria Procter was seeking accommodation or "digs" in student parlance in 2018, she encountered significant challenges. Procter shared with Biznews in an interview that as a member of the university’s Student Representative Council, she discovered she was not alone; in fact, three-quarters of the university's students were facing similar difficulties. This predicament is reflective of a broader issue across universities in South Africa, where accommodation is only available for a fraction of the student population, typically between 5 and 20%. Faced with this dilemma, Procter conceived what she deemed a simple yet impactful solution: a website and app to connect landlords with students. Over the course of a weekend, she brought this idea to fruition. The app and website quickly gained traction, culminating in the founding of DigsConnect. In 2019, Procter set out to raise R2 million, a standard figure for a South African startup. However, the response exceeded expectations, with investments totaling R12 million. This marked the beginning of DigsConnect's journey of growth and expansion beyond South Africa's borders. Procter's entrepreneurial success also led to notable recognitions and opportunities. She was invited by President Cyril Ramaphosa to join the board of the National Redevelopment Agency and represented South Africa at international forums such as the G20, COP28, and BRICS summits. However, she encountered what Proctor describes as a classic founder mistake: The business grew too fast. In response, she made the decision to scale back operations, focusing on the South African and United Kingdom markets while prioritising long-term sustainability and her personal well-being. Procter's journey is chronicled in her book titled "Upstart."

Former Eskom COO Jan Oberholzer delved into the intricacies of Eskom's challenges and potential solutions during a dynamic Q&A session at the BNC#6 conference in Hermanus. From regional energy strategies to financial hurdles and personal reflections on leadership, Oberholzer's insights shed light on the complex landscape of South Africa's energy sector and the ongoing efforts to navigate its complexities.

A lot of bad blood” between President Cyril Ramaphosa on the one hand and Economic Freedom Fighters  (EFF) Julius Malema and Floyd Shivambo as well as MK leader Jacob Zuma is likely to prevent a coalition between the Radical Economic Transformation (RET) parties and the ruling African National Congress (ANC). Instead, the ANC is more likely to team up with the opposition Democratic Alliance-led Multi-Party Charter (MPC) for a post-election coalition government. So says Senior Africa Analyst Ziyanda Stuurman of the Eurasia Group in this election preview with BizNews. “…in a lot of conversations I've had with political leaders as part of my day job, a thread that's very clearly coming through is that none of them want the EFF anyway close to real power or authority. And I think that that's a pretty powerful kind of motivating force, particularly then when you add the MK into that sort of mix.” She also says that MK is not just an ANC problem, but “an everybody’” problem - and that its advent on the political scene is changing the campaign strategies of a number of parties.

Renowned investor and Peregrine Capital's Executive Chairman David Fraser delivered an electrifying keynote at the BNC#6 conference in Hermanus providing profound insights and strategies. Unveiling Peregrine Capital's 25-year journey and investment philosophy, Fraser emphasized disciplined research, flat structures, and equity alignment as cornerstones for consistent returns. His candid revelations on proactive risk management and strategic portfolio adjustments during market downturns captivated the audience, showcasing a visionary approach to investment. Fraser's bullish stance on South African and Chinese markets, coupled with a focus on small-cap gems and global diversification, provided a roadmap for navigating dynamic market landscapes. His speech was a beacon of innovation, setting a new standard for savvy investing.

The DA’s four year court battle to expose details on its rival’s destructive Cadre Deployment policy will reach bursting point at the worst possible time for the ANC. With service delivery collapsing as a direct result of State Capture, the court-enforced disclosures are set to come just one month from Voting Day. This week, in a ‘6-love’ victory for the DA, the Gauteng High Court ruled that the ANC must hand over computers and disclose gory details on how the Ramaphosa’s-led committee put party loyalists where and when. The ANC previously applied liberal use of koki-pens to ‘redact’ names and other details from 1 300 pages of documents the court forced it to hand over. DA shadow minister Leon Schreiber explained implications of the latest judgement to Alec Hogg of BizNews.

Songezo Zibi of Rise Mzansi is telling John Steenhuisen, the leader of the Democratic Alliance (DA), not to be a “cry baby” over his decision to challenge the DA in the Western Cape. “This is not personal,” he says. Zibi has also assured the business sector that there is no need to fear land expropriation and BEE. In an interview with BizNews, he explains the party’s stance on land expropriation, stating that his position aligns with South Africa’s constitution, which allows for land expropriation with compensation, similar to cases involving mines or dams. He dismisses claims of supporting a land grab. Zibi dissects the party’s BEE policies and differentiates between the cronyism practiced by the ruling African National Congress (ANC) and Rise Mzansi’s aim to empower those who have been left out. His party is aiming for at least 12 to 20 Parliamentary seats. Zibi also comments on criticism of his support for South Africa’s genocide case against Israel, stating that Rise Mzansi cares about the lives of all humans, whether they are Israeli, Palestinian, or Ukrainian.

The saying ‘’n Boer Maak ‘n Plan’ is well-known in South Africa symbolising our inherent ability to improvise to solve problems. Currently, one of the most pressing issues confronting our farming community is the scourge of blackouts, which has had devastating consequences, particularly for poultry farms. The onset of record-breaking blackouts earlier this year resulted in the culling of millions of chicks, underscoring the urgent need for a sustainable solution. In response, the Southern African Agri Initiative (SAAI) has embarked on an initiative, partnering with C5 Capital, a venture capital firm based in Washington, to spearhead advanced nuclear energy solutions for agriculture in South Africa. SAAI CEO, Francois Rossouw told Biznews that recent surveys indicate that 56% farmers suffered income losses due to blackouts, with 75% forced to adapt their farming practices to mitigate the impact. Some farmers have been compelled to abandon their livelihoods altogether, as the profitability of farming has been severely compromised. While solar energy has been embraced by farmers, he said nuclear energy is more sustainable and reliable with no downtime. Rossouw said the scalability of nuclear power is also very attractive. C5 Capital is raising R9 billion to build the first small modular reactor (SMR). This strategic partnership with the agricultural sector builds upon C5 Capital's existing plans to deploy SMRs for energy consumption by leading data centres in the Western Cape. South Africa has a rich history of nuclear innovation, with the pebble bed modular reactor development project being abruptly halted during the tenure of former President Jacob Zuma. The first unit is expected to be completed by 2029.

Stafford Masie's electrifying keynote at the BNC#6 conference in Hermanus delved deep into the transformative power of Bitcoin and the impending AI revolution. With bold insights, Masie challenged conventional notions of money and work, urging listeners to grasp the significance of these paradigms in the digital age. Masie's compelling narrative intertwined the rise of Bitcoin as a disruptive force in global finance, especially resonating with Gen Z's disillusionment with traditional banking systems. He painted a vivid picture of a future where Bitcoin, AI, and generational shifts converge to usher in an era of unprecedented opportunity and financial empowerment, leaving his audience inspired and reimagining their path to prosperity.

In our regular recap on the past month’s investment market performance, Corion’s David Bacher puts the SA share market run in perspective. Like the China v India story for Emerging Market investors, to have won you needed to be on the right horse - resources - and avoided supporting the month’s donkey - financial services. Bacher spoke to Alec Hogg of BizNews.

Over 2000 complaints of corruption were received by Corruption Watch last year (2023). In this interview with BizNews, Executive Director Karam Singh speaks about the large number of complaints received in the policing- and the private sectors, as well as basic education, and state-owned enterprises. He warns that “it's not clear that if a new state capture project were to emerge, that we have sufficiently learned and put safeguards into the system to protect us going forward”. He stresses the need to establish “a dedicated, fully capacitated, fully funded, independent anti-corruption agency to help drive governments' initiatives and to ensure that we have the best approach, particularly from a law enforcement standpoint, similar to what we had previously with the Scorpions when it comes to the fight against corruption going forward”. Corruption Watch released its annual report today. - Chris Steyn

David Ansara's keynote speech at BNC#6 in Hermanus highlighted the failing South African state and the need for state-proofing strategies. He emphasized the root causes like state capture and ideological perpetuation by the African National Congress. Advocating for federalism and decentralised governance, he encouraged active resistance against the status quo. Practical measures included minimising tax exposure and supporting civil society organisations. Ansara stressed the importance of coordinated efforts for change amidst the collapsing state.

Many South African companies are re-evaluating their remote work policies, favouring a return-to-office approach. However, Anne Rutledge, Executive Director-Talent Solutions from Resourgenix says the concept of hybrid work, which allows for a blend of office and home-based work, is a lasting trend. In this interview with Biznews, Rutledge maps out how companies can carefully transition their existing staff back to the office to find a balance between remote and in-office work. She suggests a redesign of the office space to encourage collaboration and provide flexibility, noting the prevalence of hot desking in South Africa. It does not need to be a huge revamp, she says. For a new generation of workers, she says an office environment is important for support and guidance from their peers to progress. Hot desking, she says, is popular in South Africa. Acknowledging the global talent shortage, particularly acute in South Africa, Rutledge recommends rethinking work practices and possibly supplementing permanent staff with flexible, contingent workers. She also observes a gender disparity in the desire to return to the office, with more men than women expressing interest, and underscores the need to prioritise mental wellness initiatives given the blurred boundaries between work and personal life. As for the future of what people wear in the office, she says suits and ties have been pushed to the back of the cupboard, with individuality and a relaxed dress code coming to the fore. - Linda van Tilburg

In an impromptu keynote speech at BNC#6 in Hermanus, Cy Jacobs highlighted challenges in beating passive indices and his optimism for investing in South Africa's political climate. He emphasised the need for active management to outperform indices consistently. Jacobs also expressed positivity regarding the US election outcome and bullishness on Chinese tech companies due to valuation disparities and regulatory shifts. He identified potential opportunities in quality South African assets like Grindrod and Zeta.

During his keynote address at BNC#6 in Hermanus, Phil Craig asserted the viability and necessity of Cape Independence. The Referendum Party leader highlighted the threat of African nationalists and the Western Cape's economic struggles under national governance. Craig urged action, emphasising the need for a referendum, contending that the DA's reluctance poses the main obstacle. He advocated for supporting the Referendum Party to pressure the DA while cooperating with them. Craig emphasised that 2024 voting would determine the region's future.

During her nightcap session with BizNews founder Alec Hogg at BNC#6 in Hermanus, author Anthea Jeffery, a prominent member of the Institute of Race Relations, discussed her book "Countdown to Socialism" and the implications of socialist policies in South Africa. She delved into the history of the ANC's involvement in violence and its subsequent implementation of the National Democratic Revolution. Jeffery highlighted the detrimental effects of socialist policies on economic freedom and social justice, emphasizing the need for policy reform based on constitutional principles. Additionally, she discussed international influences on South Africa's political landscape, including Russian and Chinese involvement.

ANC Veteran Mavuso Msimang's keynote address at BNC#6 in Hermanus highlighted the ongoing challenges and opportunities in post-apartheid South Africa. From discussing the legacy of Nelson Mandela's compromises to advocating for inclusive education and vocational training, Msimang emphasized the need for unity and progress across racial divides. He pointed out the disparities in the middle class and underscored the importance of understanding history to shape a better future for all South Africans. Msimang's call for science-based affirmative policies and Black entrepreneurial support resonated with the audience, sparking conversations about sustainable development and social inclusion in the country.

In his keynote address at the BNC#6 conference, Clem Sunter delved into the intricate methodology of scenario planning, emphasising the importance of studying current challenges and adjusting interpretations based on evidence. He highlighted key global flags such as religious tensions, leadership dynamics, geopolitical risks, and climate change concerns. Sunter also addressed economic challenges, social polarisation driven by social media, and the looming impact of ageing populations. With a focus on South Africa, he discussed the upcoming pivotal election and the need for inclusive economic growth and infrastructure development. Sunter's insightful analysis provides a clear roadmap for navigating complex global challenges.

In his keynote speech at BNC#6 in Hermanus, Ranmore's Sean Peche discussed the significance of AI in various industries, emphasising its role in data-driven decision-making. He highlighted how AI benefits food retailers by optimising inventory management and reducing wastage. Peche also examined AI's impact on banks, noting its role in cost reduction and improved services. Through cautionary tales of overvaluation in companies like Cisco and Sun Microsystems, he advised against speculative investing and advocated for steady growth investments.

In this powerful interview, SA’s Chief Rabbi, Dr Warren Goldstein, calls out the ANC on the hypocrisy of its leadership and many other failures, sharing why he believes South Africans must vote the party out of power on May 29. In a break with the timid silence of SA spiritual leaders, Dr Goldstein explains why he believes SA needs a very different government: aligned with other democracies, not one cosying up with authoritarian regimes in Iran, Russia and China. Fresh from addressing an AIPAC conference in the US, Dr Goldstein shares his message there - that instead of supporting Hamas and its ilk, SA should be playing a leading role in helping Africa’s 600m Christians repulse escalating Jihadi terror attacks in Mozambique, Nigeria and elsewhere on the continent. He spoke to Alec Hogg of BizNews.

WildEarth, a beloved channel on MultiChoice renowned for its captivating African stories and wildlife content, faces imminent removal from DStv. Having been a staple on MultiChoice for over three years, WildEarth has become a household name, entertaining and educating a global audience. Despite prior assurances from MultiChoice, the company has failed to uphold its commitment to fund WildEarth, prompting WildEarth’s decision to remove itself from DSTV at the end of April. In response to the decision, a petition has been initiated by a viewer to rally support for WildEarth, and a fundraising campaign has thus far managed to garner R4.7 million ($250,000) in just 72 hours. The Chairman of WildEarth, André Crawford-Brunt, said in an interview with Biznews that he hoped that MultiChoice would reconsider its stance and honour the earlier commitment it made to fund WildEarth. Without that, WildEarth can’t afford to stay on DSTV. Crawford-Brunt described it as a David versus Goliath scenario whereby WildEarth, with 72 people, is standing up to MultiChoice, a multi-billion rand company. He said MultiChoice purported to support local content and creative talent in South Africa and are prepared to pay for channels like National Geographic and Discovery, but not for great content from South Africa like WildEarth. This channel has enabled audiences to see a little piece of Africa from their couches, he said, and has grown over the past three years to become a household name. WildEarth is being “dismissed by a big corporate in a White Ivory Tower,” he said

Money manager Piet Viljoen's keynote address at BNC#6 in Hermanus unveiled the challenges and opportunities of value investing amidst the dominance of index funds. Drawing parallels to historical frauds and market shifts, Viljoen emphasized the importance of active management, focusing on small, undervalued businesses with competent leadership and active share buybacks. The speech warns against blindly following indices, especially when large-cap stocks dominate, echoing Warren Buffett's cautionary analogy about bull markets. He urged investors to adopt a nuanced approach, seeking out solid fundamentals and strategic capital allocation for long-term outperformance in today's dynamic investment landscape.

In an insightful nightcap session BizNews founder with Alec Hogg at BNC#6 in Hermnaus, Pick 'n Pay CEO Sean Summers shared the pivotal moments that led to his return to Pick 'n Pay, emphasizing the importance of caution and strategic decision-making in leadership. Reflecting on his career journey from a young training manager to CEO, Summers discussed the evolving landscape of retail, the enduring value of family-owned companies, and the imperative of creating meaningful customer experiences. He also addressed the challenges facing South African retail and advocated for civic engagement, urging individuals to make their voices heard through voting. Summers' wisdom and vision offer valuable insights for navigating the complexities of modern business and societal responsibilities.

Political scientist and former Oxford University Don RW Johnson shares key insights from SA’s most authoritative pre-election survey - the only one conducting face-to-face nationwide interviews rather than phone surveys. He says the results support the view SA’s politics has changed more in the past two months than in the previous 20 years. Johnson points out that the collapsing ANC vote (just 41% nationally) remains fragile, and with the trend continuing, everything points to a coalition government after May 29. Moreover, provincial voter patterns suggest pressure for greater devolution or even secession secession will grow, particularly from KZN. He spoke to BizNews editor Alec Hogg.

In his keynote address at the BNC#6 conference in Hermanus, Inkatha Freedom Party (IFP) president Velenkosini Hlabisa delivered a powerful message, advocating for integrity and principled leadership in South Africa's government. Hlabisa emphasized the IFP's track record of effective governance, highlighting their commitment to transparency, accountability, and serving the nation's interests above personal gains. He urged voters to prioritize integrity and principles when choosing leaders, emphasizing that a strong voice for the IFP within the coalition government is essential for ensuring good governance and addressing the country's pressing challenges. His call to action resonated with attendees, emphasizing the crucial role of integrity in shaping South Africa's future.

In his keynote address at BNC#6 in Hermanus, crime-fighter and DA MP candidate Ian Cameron emphasised the importance of choosing hope over hopelessness and service over self-interest in tackling crime. Urging action, he highlighted civil society's role and shared the inspiring story of Liezel de Jager, who exemplified hope and service. Cameron outlined practical steps, including defining purpose, setting goals, and fostering accountability. He stressed simplicity, preparation, and personal accountability, quoting Theodore Roosevelt to underscore the significance of active engagement in societal issues.

In his keynote address at BNC#6 in Hermanus, FF-Plus chief whip Corné Mulder emphasised the need for coalition unity in challenging the ANC's power grip in South Africa. Mulder, a veteran opposition figure, highlighted the failures of the ANC and the importance of embracing diversity while advocating for decentralised decision-making. He stressed the significance of coalitions in achieving better governance and stability, particularly in the upcoming elections, where he anticipates the ANC's decline.

In his riveting address at BNC#6 in Hermanus, renowned fund manager and wealth advisor Magnus Heystek delved into the intricacies of the financial world. With a keen focus on distinguishing independent advisory services from traditional fund management, the Brenthurst Wealth director and investment strategist emphasised the importance of navigating the vast array of investment options both locally and globally. Heystek's insights on offshore investments, economic cycles, and the evolving South African landscape provided valuable guidance for investors seeking to safeguard their wealth and capitalize on emerging opportunities.

Arnie Witkin is a seasoned investment manager and private equity professional, has led a multifaceted career. After retiring, he transitioned into a speechwriter, executive coach, and mentor. For over six decades, he diligently recorded his thoughts, and around the age of 80, he decided to compile them into a book for his grandchildren. From there it gained momentum and he decided to self-publish a book, titled It's Not a Big Thing in Life, which is a guide on how to get from anxiety to action. The book caught the attention of Portia Smit from the Western Cape Education Department, who described it as a ‘genuine blessing’ for her parenting journey” and it is now part of the Department’s curriculum for Life Orientation .In an interview with Biznews, Witkin said that his main philosophy is that you are responsible for yourself, no matter what your circumstances are. His silver bullet to stop being like the Charles Dickens character, Miss Havisham is to put your thoughts down on paper to transform worries into tangible steps forward. Additionally, he shares strategies for navigating social media and emphasises the importance of humour in coping with challenges.

In a surprising turn at BNC#6 in Hermanus, Entrepreneur, activist and keynote speaker Rob Hersov ditched his meticulously crafted speech, opting for authenticity over rhetoric. Reflecting on advice from peers and family, he abandoned the scripted narrative to speak from the heart. Revealing hard truths about South Africa's political landscape, he challenged the status quo and called for urgent reform. With a candid approach, he bid farewell to political activism, prioritising family and truth above all else.

In his candid keynote speech at BNC#6 in Hermanus, Patriotic Alliance (PA) president Gayton McKenzie rejected aligning with the Democratic Alliance (DA), criticising their constant self-comparisons with the African National Congress (ANC) and asserting the need for a different political approach. McKenzie emphasised the need for accountability, highlighting successes in local governance and proposing solutions for South Africa - most prominently the mass deportation of illegal foreigners. His speech underscores a call for unity and self-accountability across racial lines to address South Africa's challenges.

In his keynote address at BNC#6 in Hermanus, Mmusi Maimane delivered a powerful message to delegates. He emphasised unity, vision, and values for a prosperous future beyond the ANC era. Drawing parallels from history and biblical narratives, Maimane urged leaders to transcend racial divides and focus on long-term solutions. Maimane highlighted the importance of education, healthcare, infrastructure, and electoral reform in building a better South Africa for all.

In his keynote address at BNC#6 in Hermanus, 'Kasinomics' expert GG Alcock delved into the informal sector economy, highlighting the resilience and potential of 'Kasipreneurs'. Drawing from personal experiences and case studies, he showcased the success stories of individuals that he has worked with, emphasising their ability to thrive despite challenges like load shedding and limited resources. Alcock highlighted the importance of recognising and supporting these informal businesses, which play a significant role in driving economic growth and creating opportunities in communities. Through initiatives like WhatsApp loyalty programs and rural farming programs, he advocates for a shift in focus towards empowering existing informal businesses rather than solely promoting startups.

Had he been able to see it, the perpetrator of South Africa’s biggest-ever corporate fraud would have enjoyed delivering his usual scathing criticism of the media. Initial reports on Markus Jooste’s death were wide of the mark - as often happens in cases like this as those delivering the news have to rely on “usually reliable sources” who are often not so. This morning BizNews editor Alec Hogg went to the spot where the one-time king of giant multinational Steinhoff took his own life. Here is Hogg’s report on what he found. Photo credit: Sunette van Niekerk

The Organisation Undoing Tax Abuse (OUTA) has slammed The Draft Integrated Resource Plan 2023 (IRP 2023) as “sloppy, inaccurate, out of date”. OUTA’s CEO Wayne Duvenage says it is so “inadequate that it makes a mockery of the public engagement process”. He warns that if it is not torn up and redone properly, OUTA will go to court. “We need our government to actually start applying the demands when it comes to what is in the best interests of this country, of business, of the economy and its people and the consumers. And they're not demonstrating that. So what we believe will happen going forward is if they don't demonstrate that on this specific matter, then they will be hauled off to court.”

During his interview and Q&A sessions at BNC#6, renowned South African businessman Christo Wiese addressed the nation's pressing issues and potential pathways for progress. Wiese emphasised the need to address bureaucratic red tape hindering economic growth, advocated for privatisation of state-owned entities, and reflected on the complexities of corruption and justice in the country. Wiese also shared, for the first time, the story of when he first found out about the Steinhoff saga. Despite challenges, he remains cautiously optimistic about South Africa's future, urging proactive citizen engagement and a nuanced approach to governance.

A BizNews interview in April last year connected SA’s original Whistleblower, Wendy Addison, and two former Old Mutual executives whose internal flag-waving was studiously ignored. The Cape-based financial services company has been under relentless attack of late because of an allegedly toxic sales culture reflected in mis-selling and non-disclosure. In this interview, Addison explains how efforts by the whistleblowers and her organisation SpeakOut SpeakUp were stonewalled by the company. Old Mutual is now being investigated by the Financial Sector Conduct Authority, which has the power to levy enormous fines.

In his keynote address at BNC#6 in Hermanus, Herman Mashaba - once a capitalist, now a politician - highlighted South Africa's upcoming elections, the most pivotal since 1994. He discussed his own journey from entrepreneur to mayor, emphasising his commitment to serving the nation. Focused on combating corruption and aiding the poor, Mashaba founded ActionSA. Rejecting divisive policies, his party aims for a non-racial South Africa. With a platform emphasising economic empowerment and education reform, they urge voters to support their transformative vision.

In his keynote address at BNC#6 in Hermanus, Capitec CEO Gerrie Fourie detailed the bank's storied journey, emphasising early differentiation, client-centric culture, and digital innovation. Despite COVID challenges, they adapted, focusing on digital growth and expanding into emerging markets like townships. Their strategy includes diversifying into insurance and acquiring Mercantile, aiming to unlock the potential of small businesses. With a vision for international expansion and a digital ecosystem, Capitec remains committed to simplicity, transparency, and empowering clients.

Billionaire Rob Hersov is under fire for lambasting business leaders and corporates whom he believes are appeasing the government. Leading the charge is Marc Lubner, the chairman of various notable corporate and humanitarian organisations. He says they are doing their “damnedest to bring about positive change while working with the powers that be”. While Hersov has reserved “a special place in hell” for business leaders who “are not standing up and speaking truth to power”, Lubner says corporates and individuals targeted by Hersov have the option of either allowing the country to collapse beyond the point of no return or to act as positively as possible. He appeals for more positive interaction between the private sector, government and civil society, and gives examples of engagements that “should be exemplified rather than necessarily vilified”.

In his keynote address at the BizNews Conference in Hermanus, SRF Chairman Dr Frans Cronje shed light on South Africa's evolving political landscape, emphasising the need for strategic analysis over simplistic labels like "positive" or "negative." Cronje delved into the country's economic trajectory, challenges faced by Eskom, and shifts in political power dynamics, including the upcoming election's potential outcomes. Despite gloomy outlooks, Cronje highlighted South Africa's resilience, with private sector interventions, moderate public opinion, and the advantages of geostrategic positioning offering avenues for growth and stability. Cronje's keynote address encapsulated his insights on navigating South Africa's complexities while remaining cautiously optimistic about its future.

OUTA CEO Wayne Duvenage delivered an impassioned keynote speech at BNC#6 in Hermanus, highlighting the power of civil society in challenging corruption. He emphasised the need for co-governance, coalition governments, and active citizen participation to address critical issues like the failed E-toll scheme and the challenges facing cities like Johannesburg. Duvenage urged corporate South Africa to invest in communities and support civil activism, emphasising that constructive action is key to fixing the country's problems.

The BizNews Conference in Hermanus was kicked off by Annelie Rabie, Executive Mayor of Overstrand, who delivered a compelling opening address, showcasing the municipality's remarkable achievements and ongoing challenges. Despite facing rising Eskom costs, wage system constraints, and environmental disasters, Overstrand has maintained financial stability, receiving accolades for service delivery and sustainability efforts. Mayor Rabie emphasised the importance of prudent financial management, effective governance, and addressing broader issues like climate change and infrastructure funding. She highlighted Overstrand as a resilient and attractive investment destination, offering insights into navigating local government challenges while promoting sustainable development and economic growth.

Local money managers are spoilt for choice in JSE-listed stocks with the ‘SA doom and gloom’ narrative and uncertainty about the pending National Election pushing prices to bargain basement levels. Among the most appealing is Fortress Fund, delivering a near 8% after-tax yield following its conversion from a REIT after its capital restructure in January. This is the kind of investment Warren Buffett tells us to look out for - one where a dollar in assets can be acquired for a quarter. Fortress CEO Steve Brown spoke to BizNews editor Alec Hogg.

At the BizNews Conference in Hermanus, Democratic Alliance leader John Steenhuisen responded to some pointed questions from the audience, 500 of whom were in attendance. Delegates pressed him on the prospect of a post-election coalition between his party and the ruling ANC; the potential influence of Russia in the vote and many other issues of importance.

In his keynote address to the BizNews Conference, leading South African entrepreneur Christo Wiese drew on the famous statement made almost a century back by then Prime Minister Jan Smuts who described SA as a country where things are never as good as they should be, but never as bad as they could be. In this inspirational address, the man who built Shoprite and Pep into massive corporations offers perspective on where SA sits in a troubled world, concluding that the depressing narrative is overblown.

At last week’s BizNews Conference, political scientist RW Johnson explained why, for South African voters, facts are finally trumping feelings. Drawing on developments post-1994, especially within the African National Congress, the long-time Oxford Don argued the country has now reached a point where its politics has become ‘secular’ - the old religious-type loyalty for the liberation party being replaced by focus on realities affecting our daily lives. The consequences are likely to be reflected when votes are tallied after May 29 - with potentially dramatic results awaiting the nation.

A “reverse take-over” of the ruling African National Congress (ANC) by former President Jacob Zuma’s increasingly popular MK party and the Economic Freedom Fighters (EFF) is “emerging as a possibility”. So says Ray Hartley, the Research Director of The Brenthurst Foundation. He speaks to BizNews following the release of the foundation’s Survey of South African Voter Opinion. According to that survey, MK will rake in 13% of the vote in the upcoming National Election and the EFF will get 10%, while the ANC will be down to 39%, and the opposition Democratic Alliance (DA) up to 27%. In this Interview, Hartley looks at the possible coalition formations that could result, and describes how that would determine the trajectory of the country. He also points out that the Independent Electoral Commission (IEC) faces a “really difficult situation” - and warns that if it excludes the MK Party, “there’s going to be chaos, certainly in KwaZulu-Natal, and possibly elsewhere”. - Chris Steyn

Alec Hogg and John Steenhuisen had a riveting interview after the DA leader's hard-hitting keynote speech at BNC#6, delving into South Africa's upcoming election chaos. The pair discussed the potential for socialist dominance, ANC discord, and the critical role of voter turnout. With global parallels and looming financial implications, this discussion is a must-watch for anyone invested in South Africa's future.

John Steenhuisen, leader of the Democratic Alliance (DA) and the opening keynote speaker at BNC#6, delivered a very simple message to delegates and attendees. It's the Multi-party Charter (MPC) versus the "Doomsday Coalition" of the ANC, EFF and MK party in South Africa's 2024 election. Steenhuisen highlighted the great work done and progress made by other MPC parties, lauding the IFP's recent manifesto launch, and emphasised the collaborative spirit of the MPC. But he also warned of the dire consequences of a "Doomsday Coalition" national government, citing the crisis in Knysna as a key example. The DA leader concluded his speech with a rallying call to vote against the "corrupt, maladministrators, crooks and cadres" and for the unity and good governance of the MPC. Steenhuisen's closing words, "On the 29th of May, vote soberly and vote like your life depends on it, because in this election it really does," underscore the watershed nature of South Africa's 2024 elections. - Patrick Kidd

The African National Congress (ANC) reacted with anger when their candidate list for the May elections leaked due to what the Independent Electoral Commission (IEC) called an “internal glitch.” An ongoing investigation by the IEC aims to determine how this leak occurred. President Cyril Ramaphosa expressed his concern, stating that it “undermined and brought the IEC into disrepute.” However, he remains confident in the IEC’s processes and is satisfied with the commission’s explanation. While ten prominent ANC leaders facing criminal charges have been blocked from the ANC’s candidate list, it still contains dozens of leaders implicated in state capture who could potentially return to Parliament. Despite the ANC’s assertion that it has “the best candidates” on the list, political analyst Dr. Piet Croukamp from North West University believes that it’s “business as usual” for the ANC. Voters in the national election on May 29 are fueled by their anger at the ANC, according to Croukamp. However, they may not yet view any of the opposition parties as a viable alternative. Croukamp emphasises that opinion polls, some of which predict that the ANC could fall below 39% of the national vote, should not be taken as raw data that definitively explains or predicts outcomes. “An opinion poll is a snapshot of a moment in time,” he asserts. Furthermore, Dr. Croukamp dismisses the likelihood of the ANC achieving only 39%. To fall to 50% of the votes, approximately 1.5 million people would need to stop voting for the ANC. Regarding the possibility of Julius Malema becoming the kingmaker in South Africa, Dr. Croukamp warns against underestimating Malema’s intention to unseat the ANC from power. If opposition parties manage to attract a substantial share of the votes in the national elections, they should carefully consider their choice for president, avoiding the nomination of John Steenhuisen, he said

CubeSpace, a company that originated from Stellenbosch, has recently secured R47 million in venture capital funding to broaden its operations globally. The South Africa University Technology Fund is among its investors. Mike-Alec Kearney, the founder and CEO of CubeSpace, told Biznews in an interview that their products are endorsed by NASA and have been used to build the control system for a lunar rover developed by the UAE Space Agency. Despite the crash of the Japanese lander carrying the moon buggy, South African manufactured parts have made it to the moon. Kearney highlighted that the space industry has transformed over the past 20 years, enabling the private and commercial sectors to thrive. Under the guidance of Professor Herman Steyn from Stellenbosch University, CubeSpace began developing control systems for small satellites, known as CubeSats. The company has since grown into a market leader in control experience and satellites, supplying a range of products to NASA, the European Space Agency, and the UAE’s space agency. CubeSpace is now looking towards further expansion.

That is the belief of Mzukisi Makatse, the attorney who first blew the whistle on corruption at the National Lotteries Commission - and lost his job, his car, his house, the hope of marrying the mother of his three children…In this interview with BizNews, he describes how his life imploded after he alerted his employer to an irregular R6 million lottery grant. And he speaks of pride with being vindicated by the Special Investigating Unit (SIU) probe that eventually uncovered R1,4 billion in corrupt dealings, and now has the National Prosecuting Authority (NPA) going after the looters. Makastse - who has been awarded the international Blueprint Africa Whistleblowing Prize - says: “We cannot have our own country degenerating into an abyss when we are there and we decide to keep quiet. We cannot keep quiet. Corruption has become a cancer. It has to be rooted out.”

Vice-Admiral Mondo Lubese, the head of South Africa’s Navy, recently threatened to sever ties with the arms manufacturer due to its failure to repair the Navy’s vessels. In an interview with Biznews, DA Shadow Minister of Defense, Kobus Marais, called it a bold statement by the Navy chief and expressed his doubts about Armscor being the right entity to run the dockyard that repairs naval vessels. He stated that the significant failures of Armscor and Denel have contributed to the current dilapidated state of the South African Navy, which has no serviceable submarines and only one operational frigate. This means that South Africa can’t defend its 3000 km coastline or honour its international treaties and obligations. Marais pointed out that there is also no capability in the Air Force for the protection of our coastline, which leaves South Africa vulnerable with outdated technology and unable to defend the country or deter any of its enemies. He emphasised that urgent restructuring and repositioning are needed at Armscor and Denel, and the highly capable private defence industry should take over. Marais warned that if the situation continues, the Navy may end up being a “water wing”, which would be an embarrassment and a sad day for South Africa.

Independent stock exchange Equity Express, which recently expanded to include bonds and debt notes, has rebranded to I-Ex - The Integrated Exchange - to better reflect its offerings. This interview with founder Anthony Wilmot explores how the independent stock markets have impacted the JSE, formerly a monopoly, and looks at how the specialist offerings provide a route to the capital markets for SA’s entrepreneurial class.