According to PwC’s Africa Energy Review 2023, the continent’s energy transition journey is faring well and is on track to meet the Paris Agreement targets. Business Day TV explored the findings of the review in greater detail with Pedro Omontuemhen, Africa Oil & Gas Leader at PwC.
The rand rigging scandal is back in the spotlight with reports citing that banks fingered in the ordeal bagged R1trn per day. The Financial Mail has however pointed out that the numbers do not add up and suggests that this is being politicized by the ruling party ahead of next year’s election. Business Day TV spoke to the publication's editor, Rob Rose for more detail.
The year's biggest shopping event, Black Friday, is taking place in a tough economic climate where consumers are having to count every rand as high interest rates and elevated inflation eat into disposable incomes. Business Day TV spoke to Tumelo Ramugond, Head of Credit Card at Standard Bank for greater perspective on consumer spending trends during this period.
The Monetary Policy Committee (MPC) has decided to keep the repo rate on hold at 8.25%. To unpack this decision, Business Day TV spoke to Koketso Mano, Senior Economist at FNB and Portfolio Manager for Fixed Income at Sanlam Investments, James Turp.
Investors have shied away from stocks that benefit from growing geopolitical conflicts. Trends have shown that investors have weighed markets wisdom against human morality in times of war; often investing in alignment with their human values. Business Day TV sits down with Jameel Ahmad, Chief Analyst for GTC Dubai to discuss investor sentiment during times of conflict.
Despite taking a R63m hit, related to costs associated with load shedding, KAL Group has managed to deliver upbeat earnings. During the full year period recurring headline earnings per share increased by 7.2%, boosted by a near 43% jump in revenue. Business Day TV unpacked the numbers with company CEO, Sean Walsh.
Nigerian President, Bola Tinubu's reform agenda is taking shape. The West African nation has passed its 2024-2026 medium-term expenditure framework tallying next year's budget and expected reform costs. As things stand, revenue of N17trn undershoots expected spend of N24trn for next year. Business Day TV spoke to Pieter Scribante, Senior Political Economist at Oxford Economics Africa for more detail.
Members of Parliament have voted for the removal of two judges in SA - John Hlophe and Nkola Motata. Hlophe was found guilty of misconduct for allegedly trying to influence the Constitutional Court in a matter involving former president Jacob Zuma. He continues to contest the findings in ongoing legal proceedings. Meanwhile, Motata, initially convicted of drunk driving in 2007 and later found guilty of misconduct, is facing renewed scrutiny after the Supreme Court of Appeal overturned a prior decision, ordering the Judicial Service Commission to recommend his removal. Business Day TV unpacked these proceedings in greater detail now with legal writer for Business Day, Tauriq Moosa.
Jason Quinn is no longer an executive employee at Absa. He leaves the position of Financial Director at the lender after 7 years in the position to step into Nedbank's offices as CEO at the end of May next year. He will replace current Nedbank CEO MIke Brown. Business Day TV spoke to Banking Analyst and Portfolio Manager at Denker Capital, Kokkie Kooyman for his assessment of the move.
Nvidia has beat analysts profit expectations, with third quarter earnings per share surging to $4.02. The performance comes as revenue more than tripled during the period, as the company continued to benefit from the artificial intelligence boom. Business Day TV unpacked the numbers with the Co-founder and CIO at Anbro Capital, Craig Antonie.
Sub-Saharan Africa has roughly 144 mobile money operators. This indicative of the relationship between technology and the continent's unbanked population. Business Day TV explored the relationship in greater detail with Sisonke Mgwebi, Consultant at Frost & Sullivan with specific focus on earned wage access.
The S&P Global has maintained South Africa's rating but has warned of risks, anticipating slower economic growth and an increase in public debt. Editor-At-Large for Business Day, Hilary Joffe joined Business Day TV for a detailed analysis of the ratings agency's outlook.
Food and fuel prices are responsible for yet another increase in the inflation rate. Inflation accelerated to a five-month high of 5.9% in October from 5.4% the previous month. Kevin Lings, Chief Economist at Stanlib joined Business Day TV to unpack the print in greater detail.
Business sentiment slipped in the fourth quarter. The RMB/BER confidence index dropped by two points to 31 in the fourth quarter, largely due to a sharp deterioration in sentiment among new vehicle dealers. Business Day TV spoke to RMB Economist Siobhan Redford for more insight.
In 2017, the competition Commission brought 28 banks under investigation for price fixing involving the rand. Standard Chartered Bank is the second institution to agree to settle with the Commission after the scandal was exposed. Business Day TV spoke to Andre Cilliers, Director & Currency Strategist at Treasury-One, and discussed what rand manipulation is, as well as its impact on the South African Economy.
African Bank's earnings have come under pressure. Profit for the year slumped over 31% to R505 million, as the lender's bad debts rose. Business Day TV discussed the annual performance with Zweli Manyathi, Group Executive for Business Banking at African Bank.
Vodacom is set to unveil a strategic master plan as it looks to dominate the African remittance market. With a goal of turning their mobile platform into a competitive remittance hub, the telecoms company aims to challenge rivals by offering lower fees. Technology Correspondent for Business Day, Mudiwa Gavaza unpacked the company's plan with Business Day TV.
Telkom's interim headline earnings per share have grown by almost 47% thanks to lower depreciation charges and growth in core profit. The group has also announced that it is in exclusive negotiations with a consortium to sell its towers business. Business Day TV unpacked the detail of the group's financial and strategy with CEO Sermae Taukobong.
Netcare has shrugged off challenges resulting from the tough macroeconomic environment. The private healthcare group has delivered on all its operational and strategic targets over the past financial year, resulting in adjusted headline earnings per share jumping 27%. Business Day TV discussed the performance with Group CEO Richard Friedland.
Barloworld has delivered what it calls a pleasing annual performance. The diversified industrial group posted a 5.5% increase in headline earnings per share from continuing operations, citing strategy execution and better-than-expected trading. Business Day TV spoke to Group CEO Dominic Sewela for more detail.
Astral has taken a R2.1 billion hit on the back of costs associated with power cuts, water shortages and the recent avian flu outbreak. As such, profits came under pressure, resulting in the chicken producer reporting its first annual loss in its 23-year history. Business Day TV caught up with company CEO Chris Schutte for further insight on the performance.
PPC has returned to profit. The cement maker has posted headline earnings per share of 26 cents for the half year, from a loss of 5 cents previously. The results follow an improved performance across its markets despite a difficult trading environment. Business Day TV unpacked the results with PPC's CEO Roland van Wijnen.
Herenya Capital founder, Petri Redelinghuys provides technical analysis on FirstRand, Richemont and Alibaba.
Business Day TV spoke to Ridle Markus, SSA Macroeconomist at Absa CIB about consumer inflation data released by Nigeria, Botswana and Ghana.
Sasol had to cancel its AGM following disruption by protesters. Business Day TV spoke to Energy Writer for Business Day, Denene Erasmus for more detail.
Omnia has posted a 4% drop in interim profit due to lower fertiliser prices. Business Day TV unpacked the performance with the group's CEO Seelan Gobalsamy.
Emira Property Fund has been hit by a triple whammy. During the interim period the property company had to deal with the effects of the sale of Enyuka Property Fund, high interest rates and downbeat income from its US investments. This resulted in an 18% decline in distributable earnings. Business Day TV unpacked the numbers with company CEO, Geoff Jennett.
Investec has reported an increase in its interim headline earnings per share of just over 15%, citing higher loan volumes, corporate deposits and funds under management. Business Day TV spoke to CEO Richard Wainwright for more detail.
Life Healthcare's shareholders are in for a bumper payday once the firm manages to sell its UK-based diagnostic imaging services subsidiary Alliance Medical Group. Business Day TV caught up with Life Healthcare CEO Peter Wharton-Hood to discuss what still needs to happen with regards to that transaction and he also gave insight into the company's annual financial results.