Afleveringen
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In his weekly take on political developments, United Independent Movement (UIM) President Neil de Beer slams the “cabal of people now cohorting into a public political party (MK) in Parliament”. He describes Jacob Zuma, Brian Molefe, Andile Mngxitama, Siyabonga Gama, Floyd Shivambu, Dr. John Hlope, Lucky Montana, and Mzwanele Manyi as among “the most unscrupulous accused people that harm this country on all levels of State Capture, SOE collapse, and debatably the country's collapse”. “That’s your 10 Most Wanted poster right there.” As for the defection of Shivambu to MK from the Economic Freedom Fighters (EFF), De Beer says: “This was orchestrated, is orchestrated and planned.” Describing the battle to prosecute those fingered by the Zondo Commission, he points out: “We spent billions on the Zondo Commission, three years, more than 16 volumes and…some of them are sitting in MK.” De Beer also dissects the latest coalition dramas between the Democratic Alliance (DA) and other parties in metros and municipalities. He further gives his take on what Elon Musk might have gained from his X interview with former US President Donald Trump. And he analyses the bold moves to self-sufficiency by Burkina Faso President Ibrahim Traoré who has turned down help from both the West and the East.
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The real founder of the MK Party, Jabulani Khumalo, is laying criminal charges against former President Jacob Zuma. In this interview with BizNews, he describes how a discovery during the past week has left him no choice. “So this will be the second case of fraud against President Jacob Zuma and his family because he is doing this because he thinks he's a God of South Africa or of the world, I don't know.” Khumalo goes on to reveal how MK has been hijacked by Zuma's cronies. “So I'm thinking that Zuma is now creating a cabal that is going to finish the country. Because if you put corrupt people together, what are you bringing? What are you doing?” Khumalo tells the full story of the founding of MK, how Zuma became involved, and how he reneged on a deal not to bring in “tainted” people. “…he agreed that if Umkhonto we Sizwe wants to move forward, we should be using people with good names, people who would want to work for the community, people who are clean, who are not going to cause us problems with all these corruption cases…But as we moved on, he brought in his daughter…his daughter started to be crazy and started making lots of problems within the organisation…I never registered (MK) for Zuma's cronies to come back and fight the State, to continue where they started looting.” As for Economic Freedom Fighters (EFF) Deputy President Floyd Shivambu joining MK, he says: “I don't believe - even in my sleep - that Floyd and (CIC Julius) Malema will ever be split. This could be orchestrated for us to be fooled and to lose the MK without knowing.”
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Zijn er afleveringen die ontbreken?
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Last night, the Comrades Marathon Association held an emotion-charged special general meeting in Pietermaritzburg to address widespread concerns among runners. Green number holder Rory Steyn invested R8 000 to attend in person. He reports on what went down at the three-and-a-half-hour SGM with BizNews editor Alec Hogg.
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Editor Alec Hogg and the BizNews team provide context on the biggest stories of the past week. Covered this week are the governance mess in the Joburg Metro; board level corruption called out at the Comrades Marathon Association; why shareholders rejected an opportunistic takeover bid for bankrupt Tongaat Hulett - and the real reason why Warren Buffett's Berkshire Hathaway sold 500m shares in Apple Inc.
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It’s five years since massive accounting fraud was exposed at Tongaat Hulett, plunging KZN’s largest industrial group into a death spiral. With little incentive to end their regular income stream, fee-earning “super helpers” have been feasting on the company’s carcass, while bankers delude themselves by charging notional interest on debts that will never be repaid. Yet some excellent assets are still there to be grabbed - and sensing fatigue of shareholders, corporate vultures have been gathering. Corporate activist Dave Woolam shares the latest twist in the sorry saga with BizNews editor Alec Hogg.
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ActionSA President Herman Mashaba is ready to walk away from a deal with the African National Congress (ANC) in the City of Johannesburg if his party does not get the Speaker’s position in the council. This after the ANC has so far failed to make an announcement following Sunday’s handshake deal. “…we are not going to be in a marriage of convenience… If they want to wait another month or so, they are the ones who are going to suffer. And we are not going to wait forever because if the City reaches a stage where it cannot really be turned around, we will not really participate…One thing for sure, I know that the voters of Johannesburg are going to punish them, punish them even further on what they've done in the previous elections.” Mashaba points out that ActionSA would not be able to hold the ANC accountable if it did not “take the Legislature”. However, should the ANC honour its undertaking, Mashaba shares a list of the programmes for immediate implementation. Meanwhile, giving an update on his party’s fight against illegal immigration, Mashaba vows: “…we’re not going to let the new Minister under this coalition arrangement to do what the ANC did over the last 30 years…open our borders.”
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The reckless spending of money and the waste and corruption is not going to stop because ActionSA is getting into bed with the African National Congress (ANC). That is the warning of Democratic Alliance (DA) councillor and former Citizen Editor Martin Williams. “There's absolutely no way ActionSA can put a spoke in that wheel,” he says. In fact, says Williams, any party that gets into an alliance with the “divided and corrupt” ANC in the province will end up in an “unstable relationship because you don't know who to trust within the ANC”. He adds that the ANC doesn't even need ActionSA “to do anything” if the Economic Freedom Fighters (EFF) is on board. “So they could be playing off each other forever, at least until 2026 when the next election happens”. He also dissects the different factions in the ANC and describes how the connection of the “Alex Mafia” weaves through it all. While Williams believes that a working relationship between a “reasonable” ANC and the DA is the only way to start turning the City around, “we cannot get into bed with the ANC as currently constituted”. Instead, the DA will work toward gaining a commanding position in the 2026 municipal elections.
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The world’s most famous ultra-distance race, KZN’s Comrades Marathon, is hosting an acrimonious battle between runners and the race’s board of directors who are accused of industrial-scale corruption. The catalyst was an allegedly unfair dismissal of admired race manager Ann Ashworth after she exposed blatant skimming by board members of cash meant to be invested in sports development. A special general meeting will be held in Pietermaritzburg this week with its instigators intending to oust two of four board members accused of lining their own pockets. Comrades veteran and blogger Stuart Mann shared the story with BizNews editor Alec Hogg.
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Brett Duncan (50), a pioneer for championing offshore share investing for South African retail investors, has passed away. Duncan was a long-time supporter of the BizNews community, having instigated the successful BizNews Share portfolio as a model for Standard Bank Webtrader clients. In this special podcast, BizNews editor Alec Hogg talks to Duncan’s close friend and colleague, Shyft founder Arno von Helden.
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Residents of Mamelodi are on the verge of realising a long-held dream: the creation of a skateboard park near the Mamelodi East Police Station. This project owes much to the dedicated efforts of Poelo Mofolo, founder of the Mamelodi Skate Club. Despite hitting a wall in securing a venue for the skate park, Mofolo found a breakthrough when he reached out to Dean McPherson, the Minister of Public Works and Infrastructure Development, via Instagram and received an immediate response. In an interview with Biznews, Mofolo shared his inspiring journey from childhood spent in children's homes, where skateboarding and acting became vital outlets. A mentor, Katie Miller, played a pivotal role by introducing him to acting and speech lessons, helping him evolve from "a kid living in a room with 20 other kids" to winning Eisteddfods, often without any family members in the audience. Today, Mofolo is not only a passionate skateboarder and actor but also a determined advocate for helping other children succeed. His vision for the skate park includes transforming it into a multi-purpose educational facility featuring after-school programmes for kids in Mamelodi. Mofolo believes that nothing in life comes for free, so he offers free skateboards in exchange for volunteer hours spent in the community garden
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After falling short in his campaign to become KZN Premier in Election’24, Christopher Pappas returned to the executive mayorship of the uMngeni municipality. He has wasted no time in raising the pressure to reverse some blatant iniquities which have led to an electricity delivery mess in affluent Hilton. Pappas’s quest has significant implications nationally in a country where laws are often excellent, but the practical application of them just terrible. He spoke to BizNews editor Alec Hogg.
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In his weekly dose of commentary on local, regional and international politics, United Independent Movement (UIM) President Neil de Beer analyses the Freedom Front Plus move to shun the Democratic Alliance (DA) in favour of the African National Congress (ANC) in Oudtshoorn. He describes the FF+’s Corné Mulder as “a very astute politician” and says his party - with its new partnership with the ANC - is positioning itself as an “alternative for future government”. He also has praise for Police Minister Senzo Mchunu who is “calm, cool, and very structured and collected”. As for the latest raid on a firearm training facility, he says there is no law that stops South Africans from being trained to protect themselves against criminals who are using “weapons of war”. Another Minister who gets his approval is Home Affairs’ Leon Schreiber who “actually understands” law and order. On the international front, De Beer looks at how the conflict in the Middle East has spilled over into Europe and the UK “where they have had the most brutal uprisings” - and warns: “And this is making the people across the world go, if this thing kicks off, this is going to be World War III.”
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Operators of illegal military training camps risk losing everything. This is the warning from Private Security Industry Regulatory Authority (PSiRA) CEO Manabela Chauke. In this interview with BizNews, he says: “…should you be found guilty, you can even have everything forfeited to the State, including the farm that you're using.” Giving an update on investigations into the illegal military training camp where 95 Libyans were arrested recently, he says: “The main issue here is that you are not supposed to give military assistance to foreign nationals who come from a country where there is instability.” He describes the line that is drawn between tactical training and military-style training. He also details how PSiRA sent a specialist team to the farm where one training facility was registered, but the other - several kilometres away - was not. “They sent the pictures back for us to make an assessment, and we beefed up the team with an additional investigation, and all other forces then ascended there, the South African Police, National Defense Force, Home Affairs…we actually shut down the training even before the arrest took place.”
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Top-ranked money manager Sean Peche is revelling in the current volatile stock markets with the turbulence “throwing up innocent bystanders” - stocks that can be nabbed at bargain prices. Among his favourites is a North American beer business run by a group of financially conservative South Africans who learned their trade at much admired SA Breweries. Peche also explains that investors should be paying close attention to Warren Buffett’s sale of half of Berkshire Hathaway’s Apple shares, previously its biggest single investment. He spoke to BizNews editor Alec Hogg.
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Corné Mulder shares the reasons why his FF+ broke its longtime alliance with the DA, creating a fresh governing coalition with the ANC in the Western Cape town of Oudtshoorn. Mulder, the longest-serving member of South Africa’s Parliament, argues that in an era where the biggest political party has just 40% of the national vote, structures that previously defined political opposition are not necessarily still fit for purpose. Mulder spoke to BizNews editor Alec Hogg.
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With many students considering overseas study, Brent Morris, Managing Director of Study Abroad for Sable International, advises parents to prioritise post-graduate study for their children as a more affordable option. In an interview with BizNews, Morris explained that this pathway often leads to higher employment success, as postgraduate students typically exhibit greater determination, achieve higher pass rates, and possess valuable work experience. Morris also highlighted more affordable alternatives for students seeking their first degrees, such as attending UK university campuses in locations like Mauritius and Dubai. Despite the recent introduction of visa requirements for South African and Botswana students by Ireland, he emphasised that the United Kingdom remains a reliable international destination for students, even with a change in government. Sable International will host 15 to 20 universities from the UK, Australia, Canada, and Ireland at events in September across Johannesburg, Pretoria, Durban, and Stellenbosch, all eager to attract South African students.
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After three decades as the DA’s fast friend and a self-described ‘reliable partner’, the FF+ has switched sides in the long-troubled Oudsthoorn local government. The FF+’s three seats were a critical block in a 25-seat council, where the ANC and DA each have seven seats. According to the FF+, former Mayor Chris McPherson is the reason for the split. But the DA’s Oudsthoorn constituency head, Mandela Rhodes Scholar and former fintech entrepreneur Dr Mark Burke, says his party’s former ally has long been spoiling for a fight, and is using McPherson as an excuse. Burke says the split in the Western Cape town has implications for at least another eight municipalities in the province where the two parties are currently in coalition. He spoke to BizNews editor Alec Hogg.
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In this discussion, Alec Hogg speaks with Mitchell Fieldgate of Pangea Wealth and Luel Culwick of Decentral about the success and future of South Africa's 12B tax incentive, which encourages private sector investment in solar energy to mitigate load shedding. The 12B incentive offers substantial tax deductions—up to 222%—for investments in qualifying solar projects, leading to significant private sector involvement. Fieldgate and Culwick highlight the importance of viewing 12B investments as solid financial opportunities, partnering with reliable companies, and acting swiftly due to the finite availability of the 12B incentive, ensuring investors can benefit fully from tax deductions while supporting South Africa's energy infrastructure.
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With stock markets tanking around the world, including a 12% plunge in Japan today, things are relatively calm on the Johannesburg Stock Exchange. At times like this, a house like Foord Asset Management is a go-to source, given its top priority is “don’t lose money”. Portfolio manager Nancy Hossack explains how the firm protected its clients from the wealth wipeout sweeping the globe. She spoke to BizNews editor Alec Hogg
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