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Speaker 1: And now The Money Show with Stephen Credits on seven

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Speaker 1: oh two.

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Speaker 2: Let's walk little.

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Speaker 3: The Money Show with Stephen Curtis has brought to you

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Speaker 3: by Absent Corporate and Investment Banking for Out sponsors of

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Speaker 3: GTR Africa twenty twenty six, enabling trade flows for growth.

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Speaker 3: Absett is a registered FSP. Good evening, Welcome to the

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Speaker 3: program nine minutes after six. I'm Stephen Crtiz. Big focus

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Speaker 3: on inflation, your lived experience of this tonight, and new

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Speaker 3: inflation numbers showing essentially that inflation is down. The problem,

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Speaker 3: of course, is that none of it really matters because

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Speaker 3: we all know what's going to happen with fuel prices

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Speaker 3: and that is really going to be the big issue

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Speaker 3: going forward. At the same time, quite a big divergence.

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Speaker 3: And you you may remember my sort of reaction when

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Speaker 3: I realized how big the difference was between official food

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Speaker 3: price inflation and what supermarkets are telling us, and give

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Speaker 3: an explanation of that tonight. I found that such an

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Speaker 3: interesting thing. In fact, coquetto Manos, the senior economist to FNB,

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Speaker 3: go through the numbers today. Part of it is around

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Speaker 3: beef prices. We'll hear from Coquettes or you know a

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Speaker 3: couple of moments. Doctor Suir Theobold is the chair of Kruthen.

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Speaker 3: He's been looking at that difference between the official figures

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Speaker 3: and what happens in supermarkets. Just to sort of explain,

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Speaker 3: I suppose you'd call it the spread. And then we're

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Speaker 3: also seeing changes in who is defaulting. So if you

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Speaker 3: look at it on one level, it's good news. There's

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Speaker 3: a very low level of defaults on home loans, but

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Speaker 3: more and more people, it seems, are using unsecured credit

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Speaker 3: actually just to try and get through the month. So

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Speaker 3: get an understanding of that. With Yakof and yasfelt from experience,

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Speaker 3: ioko there results today pretty strong. I thought. Also a

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Speaker 3: big new acquisition bying my sky they see Orhys Somerton.

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Speaker 3: He'll be on your radio in around half an hour

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Speaker 3: from now. Quite an important conversation in a way, I think,

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Speaker 3: because it gets to the heart of what's going on

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Speaker 3: in the IT industry. I mean Patricia delil the tourism

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Speaker 3: she was on seven oh two about an hour ago.

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Speaker 3: She was talking about something that's really affected you in

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Speaker 3: Cape Town around short term rentals. We're really talking about

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Speaker 3: homes that are being bought properties that are being bought

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Speaker 3: to be let out as airbnbs and the impact that's

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Speaker 3: having such a big impact on parts of Cape Town.

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Speaker 3: Well mcgwell Martin's he'll respond. He's the director of the

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Speaker 3: South African Short Term Rental Association. Obviously, I presume not

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Speaker 3: welcoming any kind of further regulations in the space. Don't

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Speaker 3: forget from seven point thirty your shape shifter. This evening,

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Speaker 3: Natasha Saderus, the founder and CEO of Natashas Group. I

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Speaker 3: would like to ask for you, if you have to

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Speaker 3: default on one payment, what's the payment you could live without.

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Speaker 3: Would it be a streaming service, would it be the

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Speaker 3: third streaming service? And what would be the thing you'd

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Speaker 3: keep at the end, the last thing to go. I

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Speaker 3: mean obviously your bond, but the last thing that you'd

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Speaker 3: let go, what would it be? Seven to seven oh

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Speaker 3: two one seven o two And of course you can

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Speaker 3: call us an double ONEAA three oh seven oh two

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Speaker 3: and two one four four, six, five six seven twelve

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Speaker 3: minutes after six, The.

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Speaker 4: Lanny Show with Stephen krutis live on ninety two point

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Speaker 4: seven and one six FM, streaming on the Prime Media Plus.

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Speaker 2: Seven and DStv Channel eight. Five six.

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Speaker 3: Well, consumer inflation in February dropping to three percent, exactly

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Speaker 3: in line with the Reserve Banks a newish target. We

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Speaker 3: can't get too excited. Higher oil and fuel prices expected

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Speaker 3: over the next couple of months, I'll have a big

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Speaker 3: impact on inflation, probably in the next week or so,

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Speaker 3: in the next two weeks. Coquettes OMNo is a senior

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Speaker 3: economist a f and be Coquettes, So good evening. Thanks

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Speaker 3: for your time. Really appreciated from what I can see,

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Speaker 3: very specific factors that led to this sort of inflation

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Speaker 3: number of three percent, which was quite a lot lower

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Speaker 3: than January's figure of three point five.

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Speaker 5: Correct.

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Speaker 6: I mean, you know, a lot of things conspired to

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Speaker 6: work towards the slower number, finally releasing the Reserving's target

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Speaker 6: of two percent. So definitely, food inflation surprises to the downside.

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Speaker 6: That's one of the areas where we got that downside surprise,

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Speaker 6: especially on meat inflation given everything that's been happening with

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Speaker 6: the biosecurity issues. We also did get a slight downsair

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Speaker 6: surprise when it comes to medical insurance. I think we

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Speaker 6: expected it to come out a little bit stronger given

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Speaker 6: what we saw online with regards to the increases that

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Speaker 6: were pumped by these medical insurances. But the number was

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Speaker 6: still a good starting point. Unfortunately, not very good news

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Speaker 6: going forward.

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Speaker 3: I mean we kind of I mean, particularly foot in

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Speaker 3: mouth and food price inflation has been such a big issue.

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Speaker 3: Actually quite good to see meat prices even coming downslidely,

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Speaker 3: will beef prices at least months or months.

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Speaker 6: In correct, I mean on average that meat prize component

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Speaker 6: was down one point one percent, So it's a very

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Speaker 6: good release given all the months of you know, high

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Speaker 6: temperasure that we've been experiencing. The wyre you here for

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Speaker 6: us is that these numbers tend to be volid how

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Speaker 6: when you look at the food basket, so we hope

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Speaker 6: that this is not just a dip one month depth,

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Speaker 6: but that you know, it could be speaking to producers

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Speaker 6: either not passing on the pressure or there's just been

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Speaker 6: not enough demand for us to see these pleasures in

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Speaker 6: the consumer price basket. But there's no guarantee that we

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Speaker 6: won't see them relapsing or you know, re emerging as

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Speaker 6: the months go ahead.

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Speaker 3: I mean, all of this is backward looking to February,

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Speaker 3: so grateful February, and if we didn't have what we

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Speaker 3: have in the Middle East. Right now, we could be

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Speaker 3: making all sorts of quite nice predictions. All of them

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Speaker 3: really have just completely disappeared, haven't they. I mean, first

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Speaker 3: Wednesday in April, I need two weeks ago. Now, two

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Speaker 3: weeks ago, we'll get a big fuel price, a big

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Speaker 3: fuel price increase, and everything changes exactly.

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Speaker 6: And it's so disappointing given the fact that you know,

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Speaker 6: we've been telling so many bad stories since the pandemic

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Speaker 6: as economists, and we're coming into this year a little

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Speaker 6: bit more upbeat around the economy, and then the quarter

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Speaker 6: into the year and we have to really think about

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Speaker 6: these risks that we've been speaking to around our geopolitical

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Speaker 6: fracturing that will result in economic uncertainty. And it's seeing

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Speaker 6: that exactly with what's happening with the war in the

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Speaker 6: Middle East. So you're so correct. The April fuel price

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Speaker 6: will be the first touch point for South Africans and

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Speaker 6: then you might see, you know, these price treasures being

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Speaker 6: spread out through the economy as you put on these costs.

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Speaker 6: So it's an unfortunate pivot in our story. It's also

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Speaker 6: very unfortunate timing, given that we thought, you know, the

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Speaker 6: landscape will be so much more positive, and twenty twenty.

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Speaker 3: Six various calculations about how big the fuel price increase

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Speaker 3: will be, I mean, ranging from four rand a lita

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Speaker 3: to seven rand elite, and I'm afraid to say, if

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Speaker 3: you look at the numbers today, probably at the higher

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Speaker 3: end of those expectations exactly.

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Speaker 6: And we're hopeful. You know, if the if the war

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Speaker 6: didn't last long, or the or the impact on infrastructure

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Speaker 6: was not really a very big concern in the market,

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Speaker 6: we may not have seen these numbers evolved the way

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Speaker 6: that they have. And I think that's that people are

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Speaker 6: speaking too anxious because we're hopeful that something will change.

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Speaker 6: But if you look at the average month to date,

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Speaker 6: you will see that for petrol we're looking at nearly

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Speaker 6: five rants. For diesel, we're looking at near the entrants.

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Speaker 6: But if you look at the under recovery on the

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Speaker 6: day I mean for diesel, that's around eleven rands. For

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Speaker 6: petrol we're looking toward to seven ranks. So it shows

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Speaker 6: you that as the month progresses, these numbers can only

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Speaker 6: get worse, right, And that's why you're hearing the different

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Speaker 6: numbers in the market. But it's only because depending on

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Speaker 6: when you're looking at it, whether it's average for the

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Speaker 6: month or on the day, it just shows you the

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Speaker 6: point story remains. In April, we're probably looking at a

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Speaker 6: very very big price hike unless obviously there's government interventions

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Speaker 6: before in twenty twenty two, although I don't think there's

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Speaker 6: a lot of piscal room to provide that relief.

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Speaker 3: Yeah, and I mean government spends so much time sort

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Speaker 3: of getting its credibility and order and all of that,

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Speaker 3: So okay, fuel prices go, let's just say an average

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Speaker 3: of seven rand. I mean, we'll we'll start to see

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Speaker 3: the impact on food price inflation and everything else probably within.

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Speaker 6: A month more certainly already in the April CPI figure,

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Speaker 6: you will see how fuel inflation on amount of month

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Speaker 6: basis could be as high as over twenty percent just

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Speaker 6: looking at those potential fuel price hikes, and then that

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Speaker 6: will raise headline inflation initially. But we're also very concerned

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Speaker 6: about the second round impact, so how much does that

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Speaker 6: really get passed onto the consumer? And that is exactly

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Speaker 6: what the results then will be looking at too, because

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Speaker 6: they're more worried about demand controlling demand to limit those

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Speaker 6: second round deferences, because they cannot really do anything efficient

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Speaker 6: about the fuel price that's already coming up. So we'll

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Speaker 6: have to see how all of these things evolve. But see,

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Speaker 6: even based on our back of the envelope calculation, right,

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Speaker 6: a ten dollars shock above will we anticipated it for

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Speaker 6: the year will give you a nearly zero point seven

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Speaker 6: percentage points on top of the headline number that the

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Speaker 6: anticipated at the start of the year. So we're still

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Speaker 6: looking at headline inflation remaining contained within that's three percent

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Speaker 6: with a one percentage point tolerance band. There is I

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Speaker 6: think is calling it so report to the inflasion remaining

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Speaker 6: within that band. But as I said, chances are monetary

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Speaker 6: policy will be way more conservative as if they not already.

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Speaker 3: And who can blame them? Coquat Somno, thanks so much,

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Speaker 3: FMB senior economists eighteen minutes after six Well, while inflation

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Speaker 3: having an impact, going to have more of an impact,

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Speaker 3: I'm afraid numbers are from Experience today showing more people

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Speaker 3: are using unsecured credit really just to get through the month.

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Speaker 3: Yakofnar Spelt is the chief of strategy and Innovation at

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Speaker 3: Experience Africa. Yago, good evening, Okay, different sets of numbers,

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Speaker 3: different things happening in different parts of the market. What

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Speaker 3: can we see about people who are using credit ready

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Speaker 3: just to get to the next paycheck?

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Speaker 7: Yes, yeah, thanks very.

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Speaker 8: Have you seen a significant increase in the usage of

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Speaker 8: credit cards, especially across the more affluent segment of the market.

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Speaker 8: It's a function of financial distress or increased financial distress,

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Speaker 8: which we've observed in the most the two most affluent

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Speaker 8: segments of the market, which which typically the two market

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Speaker 8: segments there actually living in inspirational achieve segments.

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Speaker 9: It's most exposed to secure lending as well.

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Speaker 10: And they've typically been the target of lenders and banks

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Speaker 10: both COVID from a leading to existing customer perspective. And

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Speaker 10: they've got multiple credit cards, and these credit cards aren't

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Speaker 10: a typical twenty thirty forty thousand rand limits. These are

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Speaker 10: hundred thousand round plus limits. Multiple cards of those limits,

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Speaker 10: and we've seen a significant increase in the utilization of

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Speaker 10: those limits.

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Speaker 3: I mean, if you're using credit cards with limits like

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Speaker 3: that and you've got several of them, there's really no

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Speaker 3: way you're going to get out of debt anytime soon.

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Speaker 3: I mean, you'd literally have to win the lotter. It's right.

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Speaker 11: The the usage of unsecured credit even in the personal

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Speaker 11: loan space has increased significantly, and again especially in the

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Speaker 11: top end of the market, which typically has not been

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Speaker 11: the case. This is only happened post COVID, where we've

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Speaker 11: seen a significant increase in the drawdown of our home

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Speaker 11: loan facilities and then also an increase in unsecured insecured

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Speaker 11: exposure limits which resulted in the banks effectively reducing supply,

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Speaker 11: and as a result, we've seen a significant improvement in

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Speaker 11: the home loan CVII specifically, which is a combination of

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Speaker 11: lower interest rates and people being able to pay more,

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Speaker 11: but all more a case of lower supply. However, with

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Speaker 11: the lower supply of facilities on the secured lending front,

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Speaker 11: consumers have been reaching using the unsecured credit facilities more and.

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Speaker 3: You own saying right, there is.

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Speaker 10: Actually a difficult situation for consumers to get into. And

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Speaker 10: listening to your previous speaker, whether potential risks of a

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Speaker 10: state or no more interest rate increase or interstrate increases

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Speaker 10: in the future potential increases, it is actually a concerning

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Speaker 10: state of affairs, specifically for the top end of the market,

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Speaker 10: which is your most credit active segment of the market.

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Speaker 3: I mean, so normally you would think, okay, mortgage holders,

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Speaker 3: fewer of them defaulting, that's very good news, that's quite encouraging.

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Speaker 3: But we all know that everything's about to change, don't

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Speaker 3: That's right.

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Speaker 11: The fact of the matter is that the South African consumer,

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Speaker 11: even if you look at the positive news or the

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Speaker 11: positive indications that came from the recent budget. We had

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Speaker 11: a conversation on another show regarding the budget and unbacking it.

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Speaker 10: It's great at a macro level, but when you take

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Speaker 10: it down to the consumer level, the consumer South Africa

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Speaker 10: remains significantly distressed the interest rates sensitive components of the market.

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Speaker 10: As I said, there is has been an improvement in

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Speaker 10: the home loans and default rates from a consumer default

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Speaker 10: index perspective, but those default rates are functioned, it's a

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Speaker 10: dual function.

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Speaker 3: As I'm mentioned, it's.

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Speaker 10: Not only people paying better, but there's a huge draw

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Speaker 10: down on unsecured facilities, more access to unsecure facilities. Equally so,

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Speaker 10: the least affluent segments of the market have been accessing

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Speaker 10: unsecured credit or they have salves more. Even in the

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Speaker 10: retail store cards space, where we've seen more retail supply

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Speaker 10: of retail credit happening over the face of season last

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Speaker 10: year and around Black Friday and the fast of season.

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Speaker 10: And we've seen those devaulting piece in which paints a

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Speaker 10: picture of the South African consumer irrespective of the macro

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Speaker 10: environment pre the Iranian war, looking like it's improving, the

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Speaker 10: consumer remains under significantdustries.

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Speaker 3: The Jacophany Arswalt, thank you, Chief of Strategy and Innovation

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Speaker 3: at EXPERI in Africa twenty two after six well, meat

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Speaker 3: prices coming down, we look forward to this sort of inflation.

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Speaker 3: But at the same time, so that's yessay saying food

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Speaker 3: price inflation now three point seven percent was four point

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Speaker 3: four percent in January. You may remember an interview we

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Speaker 3: did with the CEO of Chopwright, Peter Eilbracht, a couple

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Speaker 3: of weeks ago, and he told us their food price

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Speaker 3: inflation was just zero point seven percent. You may remember

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Speaker 3: my reaction. I was quite surprised. Doctor Stevet Thobould is

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Speaker 3: the head of consultancy Pruth them as to it, good evening,

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Speaker 3: How can it be that, that's essay, It can have

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Speaker 3: food price inflation because of a round four percent call

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Speaker 3: it shop right has food price inflation of zero point

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Speaker 3: seven percent.

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Speaker 9: I think it's an interesting contrast that demands and explanations

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Speaker 9: Stephen And substantially it comes down to a difference of methodology.

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Speaker 9: The statsessay methodology involves measuring a basket of goods that

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Speaker 9: have sixty five different items in that basket when it

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Speaker 9: comes to food and beverages, and it goes out monthly

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Speaker 9: and sends field workers into stores who look at prices

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Speaker 9: and record them. Now, that basket is meant to represent

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Speaker 9: the typical consumer's basket, but it's determined only every five years,

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Speaker 9: and the last time it was done was back in

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Speaker 9: twenty twenty three, and it's based on a survey of

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Speaker 9: households who tells that essay what they consume typically. Now,

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Speaker 9: things change. Twenty twenty three, we were in the middle

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Speaker 9: of load shedding. There was probably a great deal more

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Speaker 9: candles in that basket than there would be now. And

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Speaker 9: of course prices shift in the interim, and people might

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Speaker 9: consume more of things that get cheaper and less of

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Speaker 9: things that get more expensive. And in the standard approach

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Speaker 9: of measuring prices every month according to a basket determined

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Speaker 9: four years ago, you're likely to become detached from what

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Speaker 9: consumers are actually doing day to day in the stores,

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Speaker 9: especially when stores are quite dynamic in their pricing, so

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Speaker 9: you will see things like Black Friday specials, etc. That

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Speaker 9: mean the average price that a store is charging might

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Speaker 9: vary from what a field worker would see when they

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Speaker 9: go in to look at prices on the shelves. So

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Speaker 9: your actual prices that consumers are paying that Shop Right

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Speaker 9: will know from its systems can diverge considerably from the

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Speaker 9: prices that essay is measuring. And that's what seems to

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Speaker 9: have happened in this example.

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Speaker 3: I realize parts of the economy will be very difficult

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Speaker 3: to measure, so spar as a shops, the informal sector

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Speaker 3: quite difficult to get numbers out of. But could Shop

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Speaker 3: Right and SPA and Pick and Pay have all of

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Speaker 3: these numbers, I mean, could they be asked to share

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Speaker 3: it WITHSA I can imagine there might be some reasons

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Speaker 3: they'd rather not.

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Speaker 9: Well, I think that there is something to explore there.

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Speaker 9: You're right that measuring prices in the informal sector is difficult,

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Speaker 9: and the CPI basket has been criticized in the past

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Speaker 9: for failing to properly capture what people are paying outside

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Speaker 9: of the formal sector, but within the formal sector itself.

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Speaker 9: In today's communications environment, there are potentially straightforward ways that

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Speaker 9: stat says they could obtain data from the lives of

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Speaker 9: shop right, pick and pay spa who between them are

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Speaker 9: way more than half of all of the food and

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Speaker 9: beverages consumed in the country. So that kind of opportunity

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Speaker 9: is already being explored by statistics agencies elsewhere. For example,

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Speaker 9: there's a project in the UK between the Office of

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Speaker 9: National Statistics and the supermarkets to see if they can

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Speaker 9: set up channels to directly obtain scanning prices. Scanning data

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Speaker 9: from the tills in those stores as probably a better

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Speaker 9: and potentially cheaper way of collecting data than sending field

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Speaker 9: workers out to go and read prices, which lends itself

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Speaker 9: to lots of potential distortion. So I think the answers

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Speaker 9: should be yes, Stephen, that there are things that could

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Speaker 9: be done and we should be exploring them.

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Speaker 3: Doctor Sir Theobald, thank you ahead of Crutham, really appreciate it.

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Speaker 3: Twenty seven after six.

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Speaker 12: No Money Show Market.

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Speaker 3: Chris Steward is portfolio manager at ninety one Chris Good Evening.

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Speaker 3: If we could for a minute talk about gold, you

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Speaker 3: would think that with the conflict sort of deepening around Iran,

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Speaker 3: the fact that it's really hard to predict what's going

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Speaker 3: to happen next. I think also the fact that it

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Speaker 3: does not seem the US will be able to sort

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Speaker 3: of stop the war on its own Israel too. For

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Speaker 3: that matter, you would think that gold would be getting

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Speaker 3: more and more expensive. Instead, it dropped around two hundred

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Speaker 3: dollars announced today, and it's sort of, you know, from

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Speaker 3: above five thousand to around four than eight hundred.

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Speaker 12: Yeah, good evening, Stephen.

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Speaker 13: Indeed, the gold price is giving up some of its games.

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Speaker 13: And let's just remember that the gains that the gold

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Speaker 13: price has experienced over the last couple of years have been.

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Speaker 3: Nothing short of spectacular.

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Speaker 13: So you know, yes, the gold price is down a

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Speaker 13: couple of percent, and it's down seven and a half

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Speaker 13: percent this month. The fact is it's still at forty

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Speaker 13: nine hundred dollars an ounce, and that's a pretty significant number.

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Speaker 3: I guess. The second point is there is.

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Speaker 13: A well documented negative correlation between the price of gold

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Speaker 13: as denominated in US dollars and the US dollar itself,

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Speaker 13: and we have seen something of a I guess, a

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Speaker 13: retreat to the US dollar, as one often sees during

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Speaker 13: times of crisis, and the US dollar has strengthened, and

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Speaker 13: as a consequence of that, the gold price as denominated

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Speaker 13: in US dollars has come off slightly. The other point

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Speaker 13: is that gold is an asset that provides no yield,

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Speaker 13: and in an environment where all of a sudden, rate

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Speaker 13: cuts off off the table, and you know, I guess

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Speaker 13: one is starting to look forward and depending on how

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Speaker 13: long this war goes on for, depending how long oil

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Speaker 13: prices elevated levels for, it looks as though rate cuts

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Speaker 13: are off the table, and in fact, you know, rate

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Speaker 13: hikes are not any possibility in the second half of

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Speaker 13: this year, and higher interest rates tend to be less

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Speaker 13: good for the gold price because the opportunity cost of

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Speaker 13: holding gold which doesn't pay interest is greater when you

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Speaker 13: can buy other assets that do.

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Speaker 3: Okay, that's a very clear explanation. Thank you. Results from Astral.

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Speaker 3: They're expecting such a big jump in profits.

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Speaker 13: Yep, four hundred and thirty five percent increase in profits,

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Speaker 13: which means profits will be more than five times what

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Speaker 13: they were this time last year. And that is typical

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Speaker 13: of a cyclical company such as Astral. We saw Rainbow

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Speaker 13: Chickens come up with similar guidance in the last few weeks,

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Speaker 13: and you know, it's a confluence of a whole variety

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Speaker 13: of events. You've seen robust poultry prices, so protein prices

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Speaker 13: have been fairly robust, you know, possibly due to the

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Speaker 13: that red meat prices are even more robust than people

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Speaker 13: buy down to cheaper protein sources. So you know, chicken

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Speaker 13: prices have been good. Production conditions have been good. There's

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Speaker 13: been no shortages of water, there's been no problems with electricity.

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Speaker 13: Feed prices have been done because soft commodity prices have

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Speaker 13: been low. So your input costs of down, you're selling

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Speaker 13: prices are up, your production volumes are up. And put

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Speaker 13: all that together and you get a very powerful concoction

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Speaker 13: of good news at the bottom line.

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Speaker 3: Fed meeting what's at tonight ours next week, and no

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Speaker 3: chance of inter straight.

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Speaker 13: Cuting, no sadly, I mean, you know, if we'd had

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Speaker 13: the sort of inflation data we had today, reasonably reasonable

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Speaker 13: retail sales in South Africa, benign inflation in normal circumstances,

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Speaker 13: we would have been quite excited about the prospect through

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Speaker 13: a red cup next week. But unless I think with

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Speaker 13: you know, backward looking data's worth nothing right now, it's

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Speaker 13: all about the forward looking data.

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Speaker 12: We've got big fuel prices projected in.

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Speaker 3: Brief projected for the first of April.

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Speaker 13: That's going to put pressure on the inflation data, and unfortunately,

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Speaker 13: that's probably going to put a look on any talk

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Speaker 13: of right cats at least for now.

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Speaker 3: Christiant, thanks so much, Portfolio manager at ninety one.

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Speaker 2: What's up Stephen on seven two seven oh two one seven.

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Speaker 3: Twenty two minutes to seven. Well, I asked at the

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Speaker 3: start of the show, if you look at sort of

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Speaker 3: credit defaults that we're seeing people not able to keep

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Speaker 3: up with their payments, what would be the first thing

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Speaker 3: you'd let go and the last thing you'd let go?

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Speaker 3: And the example I used, would the first thing you'd

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Speaker 3: let go be a streaming service or maybe a third one?

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Speaker 3: Would it maybe be the last thing you'd let go? Well,

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Speaker 3: some responses.

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Speaker 14: Given and Stephen, this is covered from cretoria. The one

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Speaker 14: bill that I pay mediately on receipt of invoice, that's

416
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Speaker 14: my Fiber account because alive we thought the Wi Fi

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Speaker 14: would be a disaster. Yes, and then on the other

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Speaker 14: end of this is the last beer and the one

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Speaker 14: that wouldn't mind defaulting one would be my GSTV subscription. So,

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Speaker 14: but when it comes to fireby and Wi Fi, that

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Speaker 14: comes first before everything else.

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Speaker 3: Oh, I have to agree with you on the fire,

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Speaker 3: But I'm trying to think of my household without it,

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Speaker 3: and I think I would just have to, I don't know,

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Speaker 3: crawl under a rock or something, tell everybody to read

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Speaker 3: an improving book. I don't know how you think that'll

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Speaker 3: go down. Yeah, five would be the last thing I think. Also,

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Speaker 3: you just can't reproductive without it. You can't sort of

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Speaker 3: sort your finances out, you know, get back into proper

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Speaker 3: work without it, and all of those things. We're going

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Speaker 3: to talk short term leases in a moment, you know,

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Speaker 3: in Cape Town, as so many people you've been complaining

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Speaker 3: to us, We've heard from you. John Nathan talks about

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Speaker 3: this all the time, people buying houses to let out

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Speaker 3: on AIRB and B and then you just no one

436
00:23:51,520 --> 00:23:53,600
Speaker 3: can move into that area, no one can live there.

437
00:23:53,960 --> 00:23:56,080
Speaker 3: People get priced out of the market. And it's often

438
00:23:56,080 --> 00:23:58,960
Speaker 3: not South Africans buying these houses and people from other countries,

439
00:23:59,040 --> 00:24:03,360
Speaker 3: you know, and so the situation that that creates. And

440
00:24:03,440 --> 00:24:05,960
Speaker 3: we'll get a response. Because Patricia Delo was on seven

441
00:24:05,960 --> 00:24:09,399
Speaker 3: oh two this afternoon. The tourism minister. She said, I

442
00:24:09,440 --> 00:24:12,040
Speaker 3: found this fascinating. You'll hear or speak for herself in

443
00:24:12,040 --> 00:24:14,359
Speaker 3: a little while, but she said, some cities actually have

444
00:24:14,400 --> 00:24:17,439
Speaker 3: a ninety day limit. You can't use your house or

445
00:24:17,520 --> 00:24:20,800
Speaker 3: any home for Airbnb for more than ninety days a year.

446
00:24:21,240 --> 00:24:23,479
Speaker 3: We'll get a response to that from the Short Term

447
00:24:23,560 --> 00:24:25,359
Speaker 3: Leasing Association. But your view, I mean, what do you

448
00:24:25,400 --> 00:24:28,360
Speaker 3: bag that? Seven two seven oh two one seven two

449
00:24:28,400 --> 00:24:29,199
Speaker 3: twenty minutes out.

450
00:24:29,359 --> 00:24:31,679
Speaker 2: Seven The Money Show.

451
00:24:31,560 --> 00:24:35,359
Speaker 4: With Stephen krudis live on ninety two point seven and

452
00:24:35,480 --> 00:24:38,720
Speaker 4: one six FM, streaming on the Prime Media Plus.

453
00:24:38,520 --> 00:24:41,480
Speaker 2: NAP and DStv channel eight five six.

454
00:24:42,080 --> 00:24:45,359
Speaker 3: The IT provider Ioco confirming its profits up quite nicely,

455
00:24:45,400 --> 00:24:48,480
Speaker 3: getting back into dealmaking mode. It's spending fifty two million

456
00:24:48,560 --> 00:24:52,359
Speaker 3: round on the networking and infrastructure services provider my Sky,

457
00:24:52,560 --> 00:24:55,480
Speaker 3: the CEO. There is Reese summiton Reese. Good evening, good

458
00:24:55,480 --> 00:24:57,679
Speaker 3: to chat you. Obviously, you're trying to grow in a

459
00:24:57,720 --> 00:25:00,760
Speaker 3: tough environment. What's the Russia now? The purchase? What do

460
00:25:00,800 --> 00:25:02,280
Speaker 3: you believe it's going to bring you?

461
00:25:02,760 --> 00:25:02,920
Speaker 7: Yeah?

462
00:25:02,960 --> 00:25:06,879
Speaker 15: Yeah, thanks Stephen. And there's you know, the opportunity is

463
00:25:07,520 --> 00:25:10,800
Speaker 15: to make you know, a lot of acquisitions into the future,

464
00:25:10,840 --> 00:25:14,159
Speaker 15: provided we find things that are as good as MASCAR.

465
00:25:15,480 --> 00:25:19,720
Speaker 15: We want of our companies that can, uh, you know,

466
00:25:20,480 --> 00:25:24,760
Speaker 15: keep new energy coming into the group, which is important.

467
00:25:24,800 --> 00:25:28,119
Speaker 15: But equally, you know, we have to provide customers with

468
00:25:28,960 --> 00:25:32,199
Speaker 15: sort of a holistic solution. And so as technology changes

469
00:25:32,280 --> 00:25:35,000
Speaker 15: pretty quickly, you've got to keep up and you've got

470
00:25:35,000 --> 00:25:37,320
Speaker 15: to fill in the holes in your in your offering.

471
00:25:37,600 --> 00:25:40,879
Speaker 15: And so you know, this is one acquisition and we

472
00:25:41,080 --> 00:25:43,679
Speaker 15: hope to do a few more in the time ahead,

473
00:25:44,119 --> 00:25:48,160
Speaker 15: provided we can do it at realistic and attractive valuations.

474
00:25:48,440 --> 00:25:52,440
Speaker 3: Are they particular types of companies, companies in particular fields,

475
00:25:52,480 --> 00:25:55,160
Speaker 3: and it that you're looking for particular skills maybe you want.

476
00:25:55,080 --> 00:25:55,560
Speaker 7: Yeah, I hope.

477
00:25:55,560 --> 00:26:00,880
Speaker 15: It's a very wide customer base, very wide product offering,

478
00:26:01,440 --> 00:26:04,119
Speaker 15: so there's a lot of places that you can actually

479
00:26:04,160 --> 00:26:08,359
Speaker 15: add new businesses into it. It's almost like a platform

480
00:26:08,440 --> 00:26:11,640
Speaker 15: that you that you can grow on. But I think

481
00:26:11,680 --> 00:26:14,920
Speaker 15: the important thing that we look for is founder led

482
00:26:15,840 --> 00:26:19,879
Speaker 15: companies where the founders are prepared to stay. We want

483
00:26:20,119 --> 00:26:23,679
Speaker 15: business with a very high recurring revenue. And then the

484
00:26:23,680 --> 00:26:26,640
Speaker 15: third part is we don't want a big customer overlap

485
00:26:26,680 --> 00:26:30,400
Speaker 15: with our existing customers. So the idea is that when

486
00:26:30,440 --> 00:26:34,600
Speaker 15: you make an acquisition, they can leverage off Ioko's existing

487
00:26:34,600 --> 00:26:37,160
Speaker 15: client based and Ioka can leverage off their client base,

488
00:26:38,119 --> 00:26:42,400
Speaker 15: and that's all the things that Mascot kind of gives you.

489
00:26:42,400 --> 00:26:45,000
Speaker 3: You as a group were able to increase profits after

490
00:26:45,040 --> 00:26:47,280
Speaker 3: text by forty six percent. You were able to say

491
00:26:47,359 --> 00:26:49,800
Speaker 3: you say you were able to get more multi year

492
00:26:49,880 --> 00:26:53,679
Speaker 3: contract how's your pipeline looking. Are you feeling comfortable about it?

493
00:26:53,800 --> 00:26:54,000
Speaker 5: Yeah?

494
00:26:54,000 --> 00:26:55,919
Speaker 15: I think we added like one point four billion of

495
00:26:56,000 --> 00:26:59,120
Speaker 15: new contracts in the first half of the year. It's

496
00:26:59,160 --> 00:27:02,719
Speaker 15: out of you know, let's an annualized revenue run rate

497
00:27:02,800 --> 00:27:05,200
Speaker 15: of just over six billion, So if we can keep

498
00:27:05,240 --> 00:27:10,480
Speaker 15: on doing that, we'll be showing fairly healthy growth into

499
00:27:10,520 --> 00:27:12,280
Speaker 15: twenty twenty eight, for the rest of twenty six and

500
00:27:12,359 --> 00:27:16,359
Speaker 15: into twenty seven. But the key really is the duration

501
00:27:16,480 --> 00:27:18,680
Speaker 15: of those contracts, so you know, you're want three to

502
00:27:18,840 --> 00:27:23,520
Speaker 15: five year plus deals where you can start building a

503
00:27:23,520 --> 00:27:26,520
Speaker 15: base of your business. It also gives you the confidence

504
00:27:26,520 --> 00:27:28,199
Speaker 15: at at the end of the year you're not starting

505
00:27:28,200 --> 00:27:29,119
Speaker 15: from zero every.

506
00:27:29,040 --> 00:27:31,399
Speaker 7: Year trying to build up your business. You've got that

507
00:27:31,480 --> 00:27:32,040
Speaker 7: big base.

508
00:27:32,080 --> 00:27:35,720
Speaker 15: So we've said we want recurring revenue to be sixty percent.

509
00:27:35,760 --> 00:27:38,119
Speaker 15: I think we're running at sixty eight percent for the

510
00:27:38,119 --> 00:27:39,840
Speaker 15: first half of the year, so we are ahead of

511
00:27:39,880 --> 00:27:40,639
Speaker 15: where we want it to be.

512
00:27:41,760 --> 00:27:44,200
Speaker 3: And we've heard from some other players in the space

513
00:27:44,240 --> 00:27:47,040
Speaker 3: that companies are not spending much on it at the moment,

514
00:27:47,080 --> 00:27:52,320
Speaker 3: and I suppose there's a constrained environment also maybe uncertainty

515
00:27:52,359 --> 00:27:55,560
Speaker 3: over what really happens with AI. How are you finding demand.

516
00:27:55,800 --> 00:27:59,879
Speaker 15: There's a lot of demand for tech spend and tech services.

517
00:28:00,119 --> 00:28:03,280
Speaker 15: It might just be in different places, so it's difficult

518
00:28:03,320 --> 00:28:05,639
Speaker 15: to kind of predict where the demand is going to

519
00:28:05,680 --> 00:28:09,000
Speaker 15: be next. But we think that the market is probably

520
00:28:09,040 --> 00:28:12,359
Speaker 15: growing six or seven percent, and that's kind of backed

521
00:28:12,440 --> 00:28:14,040
Speaker 15: up if you look at the art spend or the

522
00:28:14,040 --> 00:28:17,960
Speaker 15: tech spend of some of the big you know, the

523
00:28:18,040 --> 00:28:21,000
Speaker 15: banks and some of the industrial companies and the miners.

524
00:28:21,000 --> 00:28:24,680
Speaker 15: So that's we think the market is probably growing at

525
00:28:24,920 --> 00:28:29,480
Speaker 15: But when you look at our competitors, you know many

526
00:28:29,520 --> 00:28:33,480
Speaker 15: are struggling even to show you a positive growth and

527
00:28:33,600 --> 00:28:37,040
Speaker 15: so you know, we think the trick is that you've

528
00:28:37,040 --> 00:28:41,200
Speaker 15: got to be offering having a kind of a service

529
00:28:41,240 --> 00:28:45,000
Speaker 15: offering to a multitude of of of your customers across

530
00:28:45,000 --> 00:28:47,680
Speaker 15: the space. You can't just target one particular group. You

531
00:28:47,800 --> 00:28:50,520
Speaker 15: need a very broad bandwidth.

532
00:28:51,480 --> 00:28:53,040
Speaker 3: I mean that all makes a lot of sense and

533
00:28:53,040 --> 00:28:57,040
Speaker 3: obviously what customers want from you. So in your field

534
00:28:57,200 --> 00:28:59,840
Speaker 3: at news quite quickly you have to change. Do you

535
00:29:00,120 --> 00:29:03,680
Speaker 3: any particular patterns Is the industry moving in a particular direction?

536
00:29:03,720 --> 00:29:06,520
Speaker 3: Are there is there a particular sort of requests or

537
00:29:06,600 --> 00:29:09,760
Speaker 3: solutions that that you can see customers are looking for

538
00:29:09,800 --> 00:29:10,320
Speaker 3: at the moment.

539
00:29:10,440 --> 00:29:13,920
Speaker 15: I think that is still very much something that you

540
00:29:13,960 --> 00:29:19,040
Speaker 15: know will grow well into the future. So that's part

541
00:29:19,040 --> 00:29:21,760
Speaker 15: of the core strategy of ours, which we didn't have,

542
00:29:22,000 --> 00:29:24,920
Speaker 15: let's say, eighteen months ago, to any significant degree. You know,

543
00:29:24,960 --> 00:29:29,640
Speaker 15: I have a strong business dynamic there. There's demand for

544
00:29:30,240 --> 00:29:35,920
Speaker 15: kind of ar solutions, but that's embryonic. It's still getting going.

545
00:29:36,360 --> 00:29:39,560
Speaker 15: I don't think anybody's really found the answer to that yet,

546
00:29:39,640 --> 00:29:43,480
Speaker 15: so that that will be a really good opportunity into

547
00:29:43,520 --> 00:29:47,360
Speaker 15: the future, and interestingly, I hope as well positioned for that.

548
00:29:47,760 --> 00:29:52,600
Speaker 15: There's a lot of questions about spend on software license revenues,

549
00:29:52,920 --> 00:29:54,920
Speaker 15: and we see some of the some of those companies

550
00:29:54,960 --> 00:29:57,920
Speaker 15: are going to be under massive stress into the future.

551
00:29:58,640 --> 00:30:02,120
Speaker 15: But you know, players like Iago tech services comings in

552
00:30:02,160 --> 00:30:05,280
Speaker 15: general should be well positioned to hold the handle our

553
00:30:05,280 --> 00:30:07,880
Speaker 15: customers into the future Ree Summerson.

554
00:30:07,960 --> 00:30:10,840
Speaker 3: Thanks so much the CEO at IOCO, really appreciate the

555
00:30:10,880 --> 00:30:12,160
Speaker 3: time tonight on the Money Show.

556
00:30:13,760 --> 00:30:16,280
Speaker 16: The Money Show Stephen Kruetez is brought to you by

557
00:30:16,320 --> 00:30:20,960
Speaker 16: Absolve Corporate and investment backing crowd sponsors of GTR Africa

558
00:30:21,000 --> 00:30:24,520
Speaker 16: twenty twenty six, enabling trade flows for growth, as does

559
00:30:24,560 --> 00:30:25,360
Speaker 16: the Register.

560
00:30:25,080 --> 00:30:30,040
Speaker 3: Every nine minutes now to seven the time Well in

561
00:30:30,160 --> 00:30:33,440
Speaker 3: Cape Town still huge concerns about the prices of properties

562
00:30:33,480 --> 00:30:36,200
Speaker 3: in certain areas because so many of them have been

563
00:30:36,280 --> 00:30:39,360
Speaker 3: brought just to basically be used for short term rental,

564
00:30:39,480 --> 00:30:42,320
Speaker 3: so as you know, people buying properties to let out

565
00:30:42,640 --> 00:30:45,720
Speaker 3: through Airbnb and other services. The new plans coming in

566
00:30:45,800 --> 00:30:48,640
Speaker 3: about an hour and a half ago. The tourism mister

567
00:30:48,720 --> 00:30:51,760
Speaker 3: Patricia Delwell spoke to seven or two's John Perlman about this.

568
00:30:52,360 --> 00:30:56,000
Speaker 5: And we have look also at some of the international examples.

569
00:30:56,080 --> 00:30:59,960
Speaker 5: You know, we took two cities of Paris and Lunch

570
00:31:00,960 --> 00:31:04,760
Speaker 5: and they for instance come up with regulations that say

571
00:31:04,880 --> 00:31:08,320
Speaker 5: you can only use your property for ninety days in

572
00:31:08,520 --> 00:31:12,520
Speaker 5: any given year for the purpose of short term rentals.

573
00:31:12,640 --> 00:31:16,440
Speaker 5: And then they came with sanctions and fines and all

574
00:31:16,520 --> 00:31:20,600
Speaker 5: of that. So it's a national problem for us in

575
00:31:20,720 --> 00:31:23,360
Speaker 5: the country, especially in the cities.

576
00:31:23,760 --> 00:31:25,880
Speaker 3: The Tourism Minister just an hour and a half ago.

577
00:31:26,000 --> 00:31:28,480
Speaker 3: Miguel Martins is the director at the South African Short

578
00:31:28,560 --> 00:31:32,960
Speaker 3: Term Rental Association mcguell. Good evening. Regulations like that you

579
00:31:33,040 --> 00:31:35,840
Speaker 3: only allowed to years properties for ninety days a year

580
00:31:35,960 --> 00:31:38,120
Speaker 3: for short term leasing. I mean, what would that do

581
00:31:38,240 --> 00:31:38,840
Speaker 3: to your members?

582
00:31:40,160 --> 00:31:42,920
Speaker 7: Clearing Stephen, thanks for having me on the show and

583
00:31:43,000 --> 00:31:46,200
Speaker 7: be able to talk talk about this very important points. Yeah.

584
00:31:46,280 --> 00:31:49,680
Speaker 7: Absolutely so when we asked our members what they what

585
00:31:49,720 --> 00:31:52,920
Speaker 7: would happen if that kind of regulation was what was

586
00:31:52,960 --> 00:31:57,760
Speaker 7: implemented before, the reaction was, you know, we'd be closing

587
00:31:57,840 --> 00:32:02,680
Speaker 7: up shop and with short some rentals comprising what we

588
00:32:02,760 --> 00:32:06,480
Speaker 7: understand between fourteen and sixty percent of all rooms hospitality

589
00:32:06,600 --> 00:32:10,920
Speaker 7: rooms in the country. That impact it would go far

590
00:32:11,000 --> 00:32:13,640
Speaker 7: beyond just an impact on individual members. That would impact

591
00:32:13,680 --> 00:32:16,600
Speaker 7: the industry at large. So definitely not something want to be.

592
00:32:16,600 --> 00:32:19,280
Speaker 3: Happening the side. Sure, so I understand you speak for

593
00:32:19,400 --> 00:32:21,560
Speaker 3: your industry, you have to defend it, and I completely

594
00:32:21,680 --> 00:32:24,120
Speaker 3: understand that is why we invited you onto the program.

595
00:32:24,520 --> 00:32:26,560
Speaker 3: But there would be other consequences. And one of those

596
00:32:26,600 --> 00:32:31,440
Speaker 3: other consequences, particularly for people coming to Cape Town in euros, pounds,

597
00:32:31,600 --> 00:32:35,760
Speaker 3: dollars or whatever, is that they would be more demand

598
00:32:35,960 --> 00:32:40,480
Speaker 3: for more formal hotel accommodation or B and B accommodation,

599
00:32:40,680 --> 00:32:43,040
Speaker 3: you know, good old fashioned sort of owner lives in

600
00:32:43,120 --> 00:32:45,400
Speaker 3: the house while you're staying kind of thing. The point

601
00:32:45,440 --> 00:32:47,840
Speaker 3: I'm making is that there would be consequences in many

602
00:32:47,960 --> 00:32:51,480
Speaker 3: directions might be negative for your members, not necessarily for

603
00:32:51,600 --> 00:32:55,560
Speaker 3: the industry, the rental industry or the hospitality industry as

604
00:32:55,560 --> 00:32:57,160
Speaker 3: a whole, particularly in Cape Town.

605
00:32:58,680 --> 00:33:00,320
Speaker 7: Absolutely, I think we have we have to look at

606
00:33:00,360 --> 00:33:02,560
Speaker 7: this holistic key, and I think when we look at

607
00:33:02,600 --> 00:33:05,880
Speaker 7: what the offering is at a hotel or a guest house,

608
00:33:05,920 --> 00:33:08,640
Speaker 7: been and breakfast versus a self catering for the most part,

609
00:33:08,720 --> 00:33:11,440
Speaker 7: short to mental, we see that there are very different

610
00:33:11,720 --> 00:33:14,840
Speaker 7: product offerings. And I think what we can do with

611
00:33:15,560 --> 00:33:19,040
Speaker 7: tourism is pretty much one of the only growth industries

612
00:33:19,080 --> 00:33:22,400
Speaker 7: in South Africa. We really want to offer a broad

613
00:33:22,520 --> 00:33:26,840
Speaker 7: spectrum of offerings for those local and international tourists to

614
00:33:27,560 --> 00:33:30,120
Speaker 7: access when they are traveling.

615
00:33:30,800 --> 00:33:33,840
Speaker 3: Let me give you an open goal, Miguel. We know

616
00:33:34,080 --> 00:33:36,040
Speaker 3: that there's been a lot more tourists in South Africa

617
00:33:36,120 --> 00:33:38,800
Speaker 3: from around September last year. Do you think that's partly

618
00:33:38,840 --> 00:33:39,680
Speaker 3: because of Airbnb.

619
00:33:42,160 --> 00:33:44,680
Speaker 7: I don't think it's due to Airbnb. I do think

620
00:33:44,800 --> 00:33:49,560
Speaker 7: Airbnb and short to mentals enable affordable travel around South Africa.

621
00:33:50,840 --> 00:33:55,200
Speaker 7: So everything it it forms part of the offering. And

622
00:33:55,320 --> 00:33:57,320
Speaker 7: one thing also to note is that a short to

623
00:33:57,440 --> 00:34:00,600
Speaker 7: mental you'll you'll find a shortter mental where hotels and

624
00:34:00,640 --> 00:34:03,400
Speaker 7: gife houses will not necessarily go to a location because

625
00:34:03,400 --> 00:34:06,760
Speaker 7: it's not worth the investment or the return on investment.

626
00:34:07,840 --> 00:34:15,240
Speaker 7: So offer the opportunity to create hospitality, attractions or demand

627
00:34:15,680 --> 00:34:20,000
Speaker 7: or sorry supply where former hotels will might consider going.

628
00:34:21,760 --> 00:34:25,120
Speaker 3: I realize what you're doing is you're servicing a market

629
00:34:25,960 --> 00:34:28,200
Speaker 3: and you're responding to a demand for a certain type

630
00:34:28,200 --> 00:34:30,680
Speaker 3: of accommodation at a particular price, and that's why it's

631
00:34:30,719 --> 00:34:33,759
Speaker 3: going so well. But no one likes it when they

632
00:34:33,880 --> 00:34:36,080
Speaker 3: can't buy a house in the city in which they

633
00:34:36,280 --> 00:34:39,480
Speaker 3: grew up. We have millions of people who grew up

634
00:34:39,480 --> 00:34:42,839
Speaker 3: in townships, for example, should be moving into suburbs. I mean,

635
00:34:43,040 --> 00:34:45,280
Speaker 3: you know, they should be development in all sorts of places,

636
00:34:45,600 --> 00:34:47,680
Speaker 3: but no one can do that in parts of Cape Town.

637
00:34:47,760 --> 00:34:50,480
Speaker 3: And a big part of it, certainly that the way

638
00:34:50,560 --> 00:34:54,319
Speaker 3: people feel about it is that the housing market has

639
00:34:54,400 --> 00:34:59,200
Speaker 3: gone nuts because people are buying houses and properties for

640
00:34:59,320 --> 00:35:01,400
Speaker 3: this simple per is to let them out. And in

641
00:35:01,520 --> 00:35:04,160
Speaker 3: some cases I imagine and I don't know how much

642
00:35:04,160 --> 00:35:07,319
Speaker 3: of a factor this should be, but I think if

643
00:35:07,400 --> 00:35:09,800
Speaker 3: people believe that the people who are buying these properties

644
00:35:09,840 --> 00:35:13,120
Speaker 3: are not in fact South African but European for argument's sake,

645
00:35:13,440 --> 00:35:16,160
Speaker 3: well I think the feelings might become even more intense.

646
00:35:17,200 --> 00:35:20,400
Speaker 3: My point is, can you think of a way to

647
00:35:20,640 --> 00:35:24,120
Speaker 3: better balance all of this out? And I realize in

648
00:35:24,280 --> 00:35:26,600
Speaker 3: joe Burg you can just spread out. Property prices are

649
00:35:26,600 --> 00:35:28,680
Speaker 3: probably never going to do what happens in Cape Town

650
00:35:28,920 --> 00:35:31,479
Speaker 3: because of the particular geography of Cape Town. The point

651
00:35:31,520 --> 00:35:33,919
Speaker 3: of fact is, to be put it very simply, Rather

652
00:35:34,520 --> 00:35:38,400
Speaker 3: people are angry because they're priced out because of this development.

653
00:35:40,560 --> 00:35:42,279
Speaker 7: I think in any location where you've got a lot

654
00:35:42,320 --> 00:35:46,240
Speaker 7: of demand, that's going to have an impact on prices,

655
00:35:46,280 --> 00:35:50,600
Speaker 7: where they're sort of mentals, simigration, a variety of other

656
00:35:50,760 --> 00:35:55,520
Speaker 7: factors that drive property prices, it is going to have

657
00:35:55,560 --> 00:35:57,680
Speaker 7: an impact. I think these are the pains of growth

658
00:35:58,520 --> 00:36:02,719
Speaker 7: that there we have to that we will experience, and

659
00:36:02,840 --> 00:36:06,360
Speaker 7: I think it's about it's about continuing, continuing to engage

660
00:36:06,960 --> 00:36:11,080
Speaker 7: and finding and balancing out those different forces that are

661
00:36:11,160 --> 00:36:16,640
Speaker 7: causing those property prices to increase. That are you know,

662
00:36:16,760 --> 00:36:20,560
Speaker 7: maybe impacting supply. You mentioned the geography of Cape Town.

663
00:36:20,760 --> 00:36:24,719
Speaker 7: The geography limits the amount of supply they can be

664
00:36:24,840 --> 00:36:30,080
Speaker 7: put into those very into that very small space, the

665
00:36:31,040 --> 00:36:35,280
Speaker 7: Capetown CBD and c point is less than fifteen fifteen

666
00:36:35,320 --> 00:36:39,040
Speaker 7: square kilometers. And our concern is that this debate and

667
00:36:39,120 --> 00:36:41,600
Speaker 7: this discussion around short and mentals are they good or

668
00:36:41,600 --> 00:36:45,560
Speaker 7: they're bad, is basically is based on those fifteen square kilometers,

669
00:36:45,880 --> 00:36:50,720
Speaker 7: but it's becoming but the inferences are impacting an industry

670
00:36:50,840 --> 00:36:55,760
Speaker 7: that nationally is only contributing and enabling a growing sector.

671
00:36:56,520 --> 00:36:58,440
Speaker 3: So, I mean, one way to do this might be

672
00:36:58,600 --> 00:37:01,880
Speaker 3: to say, well, those fifteen kilometers plus one or two

673
00:37:01,920 --> 00:37:05,160
Speaker 3: other suburbs in Cape Town, you know, go out with

674
00:37:05,239 --> 00:37:08,560
Speaker 3: the short term, but not in other places. How would

675
00:37:08,600 --> 00:37:10,720
Speaker 3: you respond to that? I mean, what that would probably

676
00:37:10,800 --> 00:37:12,759
Speaker 3: do is create huge demand there for a while, and

677
00:37:12,800 --> 00:37:14,200
Speaker 3: then people would sit on their investment.

678
00:37:15,560 --> 00:37:18,560
Speaker 7: What we appreciate with what the Minister and the Department

679
00:37:18,560 --> 00:37:21,040
Speaker 7: of Tourism is doing is that the code of your

680
00:37:21,120 --> 00:37:26,800
Speaker 7: practice start gives us a definitive minimum standard or delivery,

681
00:37:27,080 --> 00:37:29,960
Speaker 7: whether it's on the security side or what's offered at

682
00:37:30,000 --> 00:37:33,920
Speaker 7: tetratter And it also covers not just the short to

683
00:37:34,000 --> 00:37:37,880
Speaker 7: mental operator, but also the digital platforms that provide the

684
00:37:37,960 --> 00:37:40,920
Speaker 7: service or enabled these services, as well as the guests.

685
00:37:42,719 --> 00:37:45,600
Speaker 7: Back you're the the national framework. What we then need

686
00:37:45,719 --> 00:37:47,440
Speaker 7: to do is we need to then look at the

687
00:37:47,480 --> 00:37:53,080
Speaker 7: individual cities and municipalities and understand the nuances and the

688
00:37:53,239 --> 00:37:56,319
Speaker 7: impact that happening at that level. But what we need

689
00:37:56,360 --> 00:37:58,120
Speaker 7: to be careful of is that we do not have

690
00:37:58,400 --> 00:38:02,600
Speaker 7: an approach as or minister to that that take very

691
00:38:03,000 --> 00:38:07,600
Speaker 7: and very different degrees of approach and strategies to deal

692
00:38:07,680 --> 00:38:10,360
Speaker 7: with short to rental, some of them positive and enabling,

693
00:38:10,840 --> 00:38:16,040
Speaker 7: some of them impacting the industry negatively.

694
00:38:16,600 --> 00:38:19,000
Speaker 3: Miguel, thanks so much for coming on. Micgwell Martin's is

695
00:38:19,120 --> 00:38:21,680
Speaker 3: director at the South African Short Term Rental Association. So

696
00:38:22,400 --> 00:38:24,839
Speaker 3: this is one of those debates where it might well

697
00:38:24,920 --> 00:38:28,200
Speaker 3: depend on where you are. If you own one of

698
00:38:28,280 --> 00:38:30,400
Speaker 3: these properties, if you're I don't know, part of a

699
00:38:30,480 --> 00:38:33,359
Speaker 3: syndicate that's bought one of these properties, you might think,

700
00:38:33,480 --> 00:38:37,320
Speaker 3: actually we're making money from it, We're bringing in foreign

701
00:38:37,360 --> 00:38:40,480
Speaker 3: exchange largely, let us go wild and do it, and

702
00:38:40,680 --> 00:38:43,719
Speaker 3: let's just bring in as many people. Yes, we're benefiting

703
00:38:43,760 --> 00:38:46,399
Speaker 3: from renting out the property that we own, but these

704
00:38:46,480 --> 00:38:49,520
Speaker 3: tourists are creating jobs because they're spending money in restaurants

705
00:38:49,680 --> 00:38:52,719
Speaker 3: and things like that. If you grew up in Cape

706
00:38:52,760 --> 00:38:56,120
Speaker 3: Town and now can't actually go anywhere close to the

707
00:38:56,160 --> 00:38:58,320
Speaker 3: house you grew up in simply because it's been priced

708
00:38:58,320 --> 00:39:00,759
Speaker 3: out of the market, well you're probably gonna have a

709
00:39:00,880 --> 00:39:03,239
Speaker 3: very different view. I'd like to hear that for you,

710
00:39:03,360 --> 00:39:06,320
Speaker 3: please on seven two, seven oh two one seven o

711
00:39:06,480 --> 00:39:08,200
Speaker 3: two Tonight at seven o'clock.

712
00:39:09,120 --> 00:39:13,360
Speaker 1: And now The Money Show with Stephen credits on seven

713
00:39:13,400 --> 00:39:15,239
Speaker 1: oh two Let's walk at all.

714
00:39:15,640 --> 00:39:17,800
Speaker 3: The Money Show with Stephen Crutis is brought to you

715
00:39:17,920 --> 00:39:21,200
Speaker 3: by Absurente Corporates and Investment Banking for Out, sponsors of

716
00:39:21,360 --> 00:39:25,680
Speaker 3: GTR Africa twenty twenty six, enabling trade Flows for Growth.

717
00:39:25,800 --> 00:39:30,399
Speaker 3: ABSET is a registered FSP seven minutes after seven the time.

718
00:39:31,200 --> 00:39:34,800
Speaker 3: So I don't know your thoughts on the whole airbnb issue.

719
00:39:35,160 --> 00:39:37,560
Speaker 3: I do think that you know, to be priced out

720
00:39:37,600 --> 00:39:40,359
Speaker 3: of your own neighborhood must be awful. It must happen

721
00:39:40,440 --> 00:39:42,839
Speaker 3: so often actually not just here, not just in Cape Town,

722
00:39:42,920 --> 00:39:45,359
Speaker 3: not just in Joburg, but in other places too. At

723
00:39:45,400 --> 00:39:47,600
Speaker 3: the same time, though you know, welcome the growth of

724
00:39:47,680 --> 00:39:51,680
Speaker 3: money coming in, it's a gentrification argument, I suppose. In

725
00:39:52,000 --> 00:39:55,279
Speaker 3: the end, this is unusual in a moment to talk

726
00:39:55,320 --> 00:39:58,000
Speaker 3: about drones with Graham Quadrington or it's good to chat

727
00:39:58,040 --> 00:40:00,400
Speaker 3: to Graham. Been a little while since we last chatted

728
00:40:01,440 --> 00:40:08,240
Speaker 3: in consumer focus tonight, your consumer Ninja Wendy is away

729
00:40:08,360 --> 00:40:12,160
Speaker 3: for a couple of weeks. But the most interesting story

730
00:40:12,200 --> 00:40:14,400
Speaker 3: about what happens if you buy a car, you get

731
00:40:14,440 --> 00:40:16,960
Speaker 3: it on fine, and so you return it and then

732
00:40:17,000 --> 00:40:18,840
Speaker 3: the bank still comes to you for the money for

733
00:40:18,920 --> 00:40:21,279
Speaker 3: the loan. So we'll talk a little bit about that

734
00:40:22,280 --> 00:40:24,960
Speaker 3: with the fortune cheg Or from Trudy Brookman Attorneys. And

735
00:40:25,000 --> 00:40:29,200
Speaker 3: don't forget your shape shift this evening. Natasha Sadaris, Yes,

736
00:40:29,320 --> 00:40:32,640
Speaker 3: the Natasha you know from Tasha's, that one. We'll talk

737
00:40:32,680 --> 00:40:35,600
Speaker 3: to her about starting her company, about business in the

738
00:40:35,640 --> 00:40:37,680
Speaker 3: Middle East, about I mean, one of the things I

739
00:40:37,760 --> 00:40:40,719
Speaker 3: find fascinating about the restaurant industry at that court of

740
00:40:41,040 --> 00:40:46,040
Speaker 3: level is how do you make Atasha's Tasha's and yet

741
00:40:46,320 --> 00:40:48,759
Speaker 3: make it slightly individual because it's not, you know, like

742
00:40:48,840 --> 00:40:51,239
Speaker 3: a wimpy or a Steers where you actually go there,

743
00:40:51,360 --> 00:40:53,920
Speaker 3: and I do go there because I want it to

744
00:40:54,000 --> 00:40:57,400
Speaker 3: be exactly the same. That's what I want. But Tatasha's

745
00:40:57,400 --> 00:40:59,759
Speaker 3: it's slightly different to each one. How do you do that?

746
00:41:00,040 --> 00:41:02,120
Speaker 3: Looking forward to that, you'll be on your radio from

747
00:41:02,280 --> 00:41:04,799
Speaker 3: seven thirty, Good year from you seven two seven oh

748
00:41:04,880 --> 00:41:06,799
Speaker 3: two one seven oh two, and of course so double

749
00:41:06,840 --> 00:41:08,640
Speaker 3: ONEAA three oh seven, O two and O two one

750
00:41:08,719 --> 00:41:10,120
Speaker 3: four four six, O five six seven.

751
00:41:10,880 --> 00:41:14,759
Speaker 4: The Laly Show with Stephen krutis live on ninety two

752
00:41:14,800 --> 00:41:17,920
Speaker 4: point seven and one O six FM, streaming on the

753
00:41:17,960 --> 00:41:19,240
Speaker 4: Prime Media Plus NAVE.

754
00:41:19,280 --> 00:41:21,680
Speaker 2: And TSTV channel eight five six.

755
00:41:22,000 --> 00:41:24,200
Speaker 3: All of the talk of higher fewel prices, and I

756
00:41:24,320 --> 00:41:28,200
Speaker 3: do just wonder when we see cheaper Chinese electric cars

757
00:41:28,239 --> 00:41:32,280
Speaker 3: coming in, if there are some conversations over household's bries wherever,

758
00:41:32,840 --> 00:41:35,399
Speaker 3: where someone has sort of been pondering buying a new

759
00:41:35,520 --> 00:41:38,440
Speaker 3: car and just wondering if they might be able to

760
00:41:38,520 --> 00:41:41,040
Speaker 3: do something that maybe two years ago they thought they

761
00:41:41,080 --> 00:41:44,719
Speaker 3: wouldn't do now. I mean, these are probably certain circumstances

762
00:41:44,800 --> 00:41:47,120
Speaker 3: under which you'd use and which you'd buy an electric

763
00:41:47,160 --> 00:41:50,279
Speaker 3: car on. One of them is that if your workplace

764
00:41:50,400 --> 00:41:53,600
Speaker 3: is not too far away from where you live, if

765
00:41:53,760 --> 00:41:56,400
Speaker 3: maybe you can charge your car there, or if you

766
00:41:56,480 --> 00:41:59,160
Speaker 3: have a solar installation at home, and that will sort

767
00:41:59,200 --> 00:42:01,440
Speaker 3: of allig you to take some of the cost out

768
00:42:01,480 --> 00:42:04,440
Speaker 3: of it. But even now, if you were to charge

769
00:42:04,800 --> 00:42:07,640
Speaker 3: from sort of municipality or ESKIM rates, and obviously it

770
00:42:07,640 --> 00:42:09,879
Speaker 3: would depend on the car, depend on how much you drive.

771
00:42:10,560 --> 00:42:14,160
Speaker 3: But the great unknown is how much money you'd save

772
00:42:14,200 --> 00:42:16,560
Speaker 3: on servicing costs, because I don't know if you know

773
00:42:16,680 --> 00:42:19,880
Speaker 3: this that petrol and diesel cars need to be serviced.

774
00:42:20,080 --> 00:42:22,759
Speaker 3: I mean, I hope you know this, just things like oil.

775
00:42:22,840 --> 00:42:24,400
Speaker 3: What happens if you don't put that in. I mean,

776
00:42:24,440 --> 00:42:27,680
Speaker 3: we all know the disaster. So if you're looking at

777
00:42:27,760 --> 00:42:33,080
Speaker 3: the lifetime cost of a car right now, suddenly electric

778
00:42:33,200 --> 00:42:36,400
Speaker 3: cars high upfront cost, I must just say they do

779
00:42:37,120 --> 00:42:40,560
Speaker 3: suddenly starts to look a little more attractive over time.

780
00:42:41,200 --> 00:42:44,200
Speaker 3: The problem, of course, is bear in mind that before

781
00:42:44,239 --> 00:42:46,759
Speaker 3: all of the started around Iran, before the US and

782
00:42:46,840 --> 00:42:50,160
Speaker 3: Israel started bombing it, well, oil prices were just over

783
00:42:50,239 --> 00:42:53,160
Speaker 3: sixty dollars a barrel, and now, of course they're over

784
00:42:53,239 --> 00:42:55,759
Speaker 3: one hundred, not about one hundred and ten. But could

785
00:42:55,800 --> 00:42:57,759
Speaker 3: go back to sixty dollars a barrel in what a

786
00:42:57,840 --> 00:43:01,239
Speaker 3: couple of months. I mean, probably not, but maybe good

787
00:43:01,280 --> 00:43:03,319
Speaker 3: to hear from you on that, I know, seven two

788
00:43:03,360 --> 00:43:04,040
Speaker 3: one seven two.

789
00:43:04,840 --> 00:43:07,279
Speaker 2: Then mind the show business unusual.

790
00:43:07,680 --> 00:43:11,120
Speaker 3: Talking of conflict, one of the things you hear conflicts

791
00:43:11,200 --> 00:43:16,120
Speaker 3: nowadays is around drones. But they're not all bad unless

792
00:43:16,120 --> 00:43:19,640
Speaker 3: they're droning Graham Quandrington's the Futurist and partner Tomorrow Today, Graham,

793
00:43:20,120 --> 00:43:22,759
Speaker 3: good evening. When you think about drones, I sort of

794
00:43:23,000 --> 00:43:27,200
Speaker 3: automatically put the word warfare afterwards, there's no real reason

795
00:43:27,239 --> 00:43:28,920
Speaker 3: for me to do that, but you can use them

796
00:43:28,920 --> 00:43:29,799
Speaker 3: for all sorts of things.

797
00:43:32,120 --> 00:43:35,200
Speaker 17: Well, yes, Stephen, I've sort of desperately been looking around

798
00:43:35,280 --> 00:43:39,080
Speaker 17: for a little bit of different and maybe a lighter

799
00:43:39,200 --> 00:43:42,799
Speaker 17: touch news over the last few days, and I thought,

800
00:43:43,520 --> 00:43:46,520
Speaker 17: you know, as you said, when we think of drones, now.

801
00:43:46,480 --> 00:43:49,200
Speaker 12: We you know, we think of this death and hell

802
00:43:49,320 --> 00:43:51,680
Speaker 12: fire from the sky a kind of drone.

803
00:43:51,920 --> 00:43:54,279
Speaker 17: But of course drones have been around for over a

804
00:43:54,400 --> 00:43:58,839
Speaker 17: decade and in a number of different ways that many

805
00:43:58,920 --> 00:44:02,560
Speaker 17: of us have actually used. My own brother, is I

806
00:44:02,719 --> 00:44:04,320
Speaker 17: think one of them? I suppose I can say it.

807
00:44:04,360 --> 00:44:06,239
Speaker 17: I'm I'm his brother. I think he's one of the

808
00:44:06,280 --> 00:44:11,440
Speaker 17: world's best drone photographers as his own video production a

809
00:44:11,560 --> 00:44:14,719
Speaker 17: company in the United States and has done amazing work.

810
00:44:14,760 --> 00:44:17,799
Speaker 17: And I've remembered as far back as ten years ago

811
00:44:17,920 --> 00:44:21,399
Speaker 17: sort of watching in awe as he was practicing doing

812
00:44:21,520 --> 00:44:24,600
Speaker 17: those amazing drone shots that we just take for granted

813
00:44:24,680 --> 00:44:28,719
Speaker 17: now in documentaries and sports games and so on. And

814
00:44:28,800 --> 00:44:32,600
Speaker 17: I think that's how most people got familiar with drones,

815
00:44:32,640 --> 00:44:36,399
Speaker 17: maybe even got one for a Christmas present, and we're

816
00:44:36,719 --> 00:44:39,839
Speaker 17: able to get some lovely photography. But over the last

817
00:44:40,000 --> 00:44:45,120
Speaker 17: few years, drones have come into multiple industries all around

818
00:44:45,160 --> 00:44:49,480
Speaker 17: the world doing some incredible things. And so if it

819
00:44:49,600 --> 00:44:55,320
Speaker 17: is possible to take our attention away from the military

820
00:44:55,400 --> 00:44:58,160
Speaker 17: and weapons use of drones, I thought this evening, I'd

821
00:44:59,000 --> 00:45:02,359
Speaker 17: just throw around a few other applications and maybe Steve

822
00:45:02,400 --> 00:45:05,480
Speaker 17: and I can throw it out to you. What's your

823
00:45:05,840 --> 00:45:08,960
Speaker 17: sort of most interesting thought about what a drone can do.

824
00:45:09,120 --> 00:45:11,799
Speaker 17: Maybe you've seen it or even just in your imagination.

825
00:45:12,040 --> 00:45:13,680
Speaker 3: So I mean, I think one of the things that

826
00:45:13,840 --> 00:45:16,800
Speaker 3: makes a drone so attractive is that it can actually

827
00:45:16,840 --> 00:45:20,600
Speaker 3: stay in the sky for quite a long time. Because yes,

828
00:45:21,120 --> 00:45:23,400
Speaker 3: I suppose need to be piloted in a way depending

829
00:45:23,440 --> 00:45:25,400
Speaker 3: on the type of drone that it is, but because

830
00:45:25,440 --> 00:45:27,760
Speaker 3: it can sort of cover, because it can do those things.

831
00:45:28,280 --> 00:45:31,000
Speaker 3: So I mean you could imagine and someone could easily

832
00:45:31,040 --> 00:45:33,359
Speaker 3: do the same. For example, I'm a bit of an

833
00:45:33,360 --> 00:45:36,319
Speaker 3: odd person around this a five day cricket test, right,

834
00:45:36,760 --> 00:45:39,120
Speaker 3: you could put a drone in the same place above

835
00:45:39,520 --> 00:45:42,440
Speaker 3: the wanderers, because it is the best cricket ground in

836
00:45:42,480 --> 00:45:46,160
Speaker 3: the country bar none, and you could watch. You could

837
00:45:46,160 --> 00:45:49,359
Speaker 3: have that drone there for every ball of the test

838
00:45:50,200 --> 00:45:52,399
Speaker 3: and at the end of it put together some kind

839
00:45:52,440 --> 00:45:55,680
Speaker 3: of montage that would be much more revealing than the

840
00:45:55,760 --> 00:45:57,839
Speaker 3: stats about who scored runs where and how.

841
00:46:00,400 --> 00:46:02,880
Speaker 17: I actually think sports is going to be one of

842
00:46:02,920 --> 00:46:06,040
Speaker 17: the ways in which drones are used. Obviously, there is

843
00:46:06,160 --> 00:46:12,279
Speaker 17: in fact drone racing already where similar I supposed to

844
00:46:12,600 --> 00:46:17,360
Speaker 17: remote controlled cars and things like that, and drone racing

845
00:46:17,960 --> 00:46:21,239
Speaker 17: is incredible to watch because some of these drones can

846
00:46:21,360 --> 00:46:24,600
Speaker 17: get up to incredible speeds a few hundred kilometers an

847
00:46:24,600 --> 00:46:26,320
Speaker 17: hour moving around.

848
00:46:26,640 --> 00:46:29,480
Speaker 12: But I agree with you that I think in terms of.

849
00:46:29,560 --> 00:46:32,839
Speaker 17: The way we consume sport, as those of us who

850
00:46:32,880 --> 00:46:35,960
Speaker 17: are sports fans, one of the things is going to

851
00:46:36,040 --> 00:46:39,120
Speaker 17: be the cameras that are on the referees, that are

852
00:46:39,360 --> 00:46:41,640
Speaker 17: on the players, and you get that sort of in

853
00:46:41,800 --> 00:46:45,160
Speaker 17: person view of the game. I'm sure that's coming to

854
00:46:45,480 --> 00:46:47,719
Speaker 17: a lot of sports over the next few months and years.

855
00:46:48,160 --> 00:46:52,000
Speaker 17: But I agree with you, drone shots for certain sports

856
00:46:52,040 --> 00:46:54,800
Speaker 17: are going to be significant, maybe just the static drone,

857
00:46:54,840 --> 00:46:57,080
Speaker 17: as you say, And I could imagine that would look

858
00:46:57,239 --> 00:47:01,040
Speaker 17: incredibly impressive, say over a basketball court or as you say,

859
00:47:01,080 --> 00:47:04,440
Speaker 17: a cricket game or a football game, because there's a

860
00:47:04,520 --> 00:47:07,440
Speaker 17: particular perspective that we've never had before, and I think

861
00:47:07,440 --> 00:47:12,360
Speaker 17: it'll be fascinating. But I could imagine someone like Russy

862
00:47:12,760 --> 00:47:17,439
Speaker 17: in Rugby using it for his statistical analysis and his view,

863
00:47:18,080 --> 00:47:22,200
Speaker 17: just to give you that different view of sports. And

864
00:47:22,239 --> 00:47:25,839
Speaker 17: if we're talking different views, these are already being used

865
00:47:26,600 --> 00:47:31,040
Speaker 17: for shark spotting, for example at beaches. Of course, instead

866
00:47:31,080 --> 00:47:34,480
Speaker 17: of having somebody sitting on the beach on a high

867
00:47:34,600 --> 00:47:39,640
Speaker 17: chair hopefully spotting, it a much clearer view of the waters.

868
00:47:39,680 --> 00:47:42,719
Speaker 17: And I think some people we recently had friends over

869
00:47:42,800 --> 00:47:47,080
Speaker 17: from Australia and they said their local beach, everybody has

870
00:47:47,080 --> 00:47:48,880
Speaker 17: been swimming there for years and years and years, always

871
00:47:48,880 --> 00:47:51,800
Speaker 17: thought it was safe. Now a few people are publishing

872
00:47:51,880 --> 00:47:55,000
Speaker 17: the drone videos and they didn't realize this. Essentially, it's

873
00:47:55,000 --> 00:47:59,839
Speaker 17: a shark infested and I mean, I think everything's trying

874
00:47:59,880 --> 00:48:02,399
Speaker 17: to killing it in Australia, and I think, so maybe

875
00:48:02,400 --> 00:48:05,480
Speaker 17: they'll just carry on swimming. But you know, now they

876
00:48:05,560 --> 00:48:08,279
Speaker 17: know that they've seen it. They've seen it there, So

877
00:48:09,920 --> 00:48:13,480
Speaker 17: I think that sort of side recreation side is well established.

878
00:48:14,080 --> 00:48:17,759
Speaker 3: Let me let me, let me paint a science fiction

879
00:48:18,040 --> 00:48:22,520
Speaker 3: a science fiction picture for you. So I remember when

880
00:48:22,600 --> 00:48:24,319
Speaker 3: my kids were much younger, the first time we let

881
00:48:24,360 --> 00:48:26,239
Speaker 3: them walk to the park on their own. Let me

882
00:48:26,320 --> 00:48:29,520
Speaker 3: just confess the park is across the road, right, So

883
00:48:29,680 --> 00:48:32,120
Speaker 3: that's all they needed to do. So now if I

884
00:48:32,160 --> 00:48:33,840
Speaker 3: had to do that now and I had a drone,

885
00:48:33,880 --> 00:48:37,359
Speaker 3: i'd absolutely have it literally on them the whole time

886
00:48:37,480 --> 00:48:40,880
Speaker 3: and they wouldn't even know it was there. Now, I

887
00:48:40,960 --> 00:48:44,040
Speaker 3: suppose there'll be some cities, you know, with very high

888
00:48:44,120 --> 00:48:47,600
Speaker 3: levels of CCTV penetration where you could probably you know,

889
00:48:47,719 --> 00:48:50,440
Speaker 3: get the system to do this for you. But if

890
00:48:50,480 --> 00:48:52,480
Speaker 3: you're thinking I'm going to let my child do this,

891
00:48:52,760 --> 00:48:54,680
Speaker 3: I don't know, whatever it is walk on their own,

892
00:48:54,920 --> 00:48:57,399
Speaker 3: go to the petrol station on their own to buy

893
00:48:57,520 --> 00:49:00,399
Speaker 3: something whatever. So I have a drone following them up there,

894
00:49:00,480 --> 00:49:03,160
Speaker 3: knowing we'd put a lot of parents' minds at ease

895
00:49:03,360 --> 00:49:05,360
Speaker 3: and the kid seat of the same independence.

896
00:49:07,080 --> 00:49:09,160
Speaker 12: I think that's a wonderful idea.

897
00:49:09,320 --> 00:49:13,200
Speaker 17: Of course, you immediately cross over the line of other

898
00:49:13,280 --> 00:49:15,960
Speaker 17: people doing it for people without their consent and so on.

899
00:49:16,080 --> 00:49:18,840
Speaker 17: You know, a parent for a child makes sense. You

900
00:49:18,920 --> 00:49:22,200
Speaker 17: know a neighbor, a neighbor doing it for you, maybe

901
00:49:22,320 --> 00:49:26,120
Speaker 17: not so much, but Stephen. One of the funnier uses

902
00:49:26,160 --> 00:49:28,359
Speaker 17: of drones that I've seen people can do a quick

903
00:49:28,880 --> 00:49:33,400
Speaker 17: search for this on YouTube is people who have trained

904
00:49:33,400 --> 00:49:37,560
Speaker 17: their drones. Because drain good drones also have GPS tracking

905
00:49:37,600 --> 00:49:40,600
Speaker 17: in them and can be trained to fly on a

906
00:49:40,680 --> 00:49:46,719
Speaker 17: particular path. They use it for dog walking. Assume not

907
00:49:46,760 --> 00:49:49,680
Speaker 17: a great not a great Dane. Oh yeah, yeah, it's true,

908
00:49:49,840 --> 00:49:50,279
Speaker 17: look it up.

909
00:49:50,320 --> 00:49:54,280
Speaker 12: Look it up. More sort of multice poodle level than.

910
00:49:54,200 --> 00:49:58,640
Speaker 17: Great dane level, I think. But other drones are incredibly strong.

911
00:49:59,080 --> 00:50:03,399
Speaker 17: In Dubai, they have been experimenting with, of course, using

912
00:50:03,480 --> 00:50:08,000
Speaker 17: drones as taxis, because if you make the drone big enough,

913
00:50:08,120 --> 00:50:11,760
Speaker 17: with big enough propellers, you can put quite a payload

914
00:50:11,840 --> 00:50:15,160
Speaker 17: onto it. Is also going for deliveries and here, there's

915
00:50:15,160 --> 00:50:19,320
Speaker 17: a lovely African story. In Rwanda, they are using drones

916
00:50:19,880 --> 00:50:24,719
Speaker 17: to do quick delivery of medications to rural areas, and

917
00:50:25,320 --> 00:50:30,160
Speaker 17: Rwanda is I think Africa's most advanced digital nation, and

918
00:50:31,000 --> 00:50:36,160
Speaker 17: drones are now part of their delivery, especially medical medical deliveries.

919
00:50:36,560 --> 00:50:40,720
Speaker 17: In Scotland, to keep the theme, they are using drones

920
00:50:40,920 --> 00:50:44,520
Speaker 17: in rescuing people who get lost when they go out

921
00:50:44,560 --> 00:50:49,280
Speaker 17: walking in the highlands and people who are on hikes.

922
00:50:49,320 --> 00:50:51,879
Speaker 17: I'm sure they would be used for that, and in fact,

923
00:50:51,880 --> 00:50:56,280
Speaker 17: there probably is already use of drones in South African

924
00:50:56,400 --> 00:51:01,600
Speaker 17: mountain and sea rescue environments. You know, I think it's

925
00:51:02,040 --> 00:51:05,120
Speaker 17: going to over the next few years, We're going to

926
00:51:05,200 --> 00:51:08,200
Speaker 17: see drones becoming not just something you do for fun.

927
00:51:08,520 --> 00:51:13,640
Speaker 17: And hopefully well the wall will domin our memories. But

928
00:51:14,040 --> 00:51:17,560
Speaker 17: there are two things that I think bring a commercial

929
00:51:17,960 --> 00:51:20,960
Speaker 17: level to this as well, if the others are not already.

930
00:51:21,520 --> 00:51:25,919
Speaker 17: The one is window washing. Now here's Stephen, not another

931
00:51:26,000 --> 00:51:28,759
Speaker 17: question I'm throwing you questions tonight. What do you think

932
00:51:28,960 --> 00:51:34,400
Speaker 17: the global window washing industry is worth in dollars?

933
00:51:34,800 --> 00:51:37,560
Speaker 3: Sure, on an annual base, I've never thought about it.

934
00:51:38,520 --> 00:51:39,440
Speaker 3: Twenty billion dollars.

935
00:51:41,719 --> 00:51:45,080
Speaker 17: It is higher than that, it's closer to fifty billion

936
00:51:46,000 --> 00:51:50,200
Speaker 17: dollars because you can imagine every single high rise building

937
00:51:50,400 --> 00:51:54,040
Speaker 17: in the world has to have those windows keened. And

938
00:51:55,239 --> 00:51:58,480
Speaker 17: I haven't really seen it much in Santon, but I

939
00:51:58,680 --> 00:52:01,320
Speaker 17: often see it in Cape Town. The guy's ab sailing

940
00:52:01,760 --> 00:52:05,320
Speaker 17: down the sides of buildings, and the taller the building

941
00:52:05,480 --> 00:52:09,000
Speaker 17: is that it just becomes a continuous thing. Drones are

942
00:52:09,080 --> 00:52:12,080
Speaker 17: now being used in that process at the moment a

943
00:52:12,640 --> 00:52:15,480
Speaker 17: long time alongside human people, but you could easily see

944
00:52:15,480 --> 00:52:18,880
Speaker 17: it being automated over time. And then also thinking about

945
00:52:19,280 --> 00:52:24,240
Speaker 17: those high rised buildings firefighting, if you've got a fire

946
00:52:24,400 --> 00:52:27,800
Speaker 17: on the fifteenth floor, you might just be able to

947
00:52:27,880 --> 00:52:31,160
Speaker 17: get one of those long firefighting ladders up the side

948
00:52:31,200 --> 00:52:34,560
Speaker 17: of the building. But any higher than that you put

949
00:52:34,560 --> 00:52:36,560
Speaker 17: a host pipe on the back of a drone and

950
00:52:36,680 --> 00:52:39,520
Speaker 17: send it up and suddenly you've got a solution. And

951
00:52:39,760 --> 00:52:42,200
Speaker 17: maybe it's even a solution for getting people out of

952
00:52:42,320 --> 00:52:45,520
Speaker 17: those buildings as well, if you've got a big enough drone. Sure,

953
00:52:47,000 --> 00:52:49,440
Speaker 17: lots of ways that we can be using drones, and

954
00:52:49,560 --> 00:52:53,680
Speaker 17: lots of commercial opportunities I think, across many different industries.

955
00:52:53,960 --> 00:52:56,400
Speaker 3: Graham Condring and thanks so much really to appreciate it.

956
00:52:56,480 --> 00:53:00,960
Speaker 3: Graham's a futurist and partner tomorrow today, And just imagine

957
00:53:01,239 --> 00:53:03,880
Speaker 3: a sort of movie about the person who pilots one

958
00:53:03,920 --> 00:53:06,279
Speaker 3: of these things and rescues people. I even know what

959
00:53:06,320 --> 00:53:09,799
Speaker 3: it'll be called, Top Gun three The.

960
00:53:09,960 --> 00:53:14,359
Speaker 2: Money Show with Stephen on seven O two, seven o two.

961
00:53:14,680 --> 00:53:16,359
Speaker 3: Well, I'm sure when you look at buying a car,

962
00:53:16,560 --> 00:53:19,279
Speaker 3: you might wonder what happens to the finance of it

963
00:53:19,880 --> 00:53:22,440
Speaker 3: if you find you have to return it. So imagine this.

964
00:53:22,640 --> 00:53:25,560
Speaker 3: You go off, you find the car, very excited, you

965
00:53:25,680 --> 00:53:28,800
Speaker 3: sign a long term loan agreement, so you sign the

966
00:53:28,920 --> 00:53:32,480
Speaker 3: finance with whoever. You take the car home, and over

967
00:53:32,520 --> 00:53:34,480
Speaker 3: the next couple of days you realize it. So what's

968
00:53:34,520 --> 00:53:38,640
Speaker 3: the polite RaSE elemon good? Not gonna work out? And

969
00:53:38,760 --> 00:53:41,879
Speaker 3: you take it back? And what happens after that? Well,

970
00:53:41,880 --> 00:53:44,920
Speaker 3: there's a case about this in the Supreme Court of Appeal.

971
00:53:45,360 --> 00:53:49,240
Speaker 3: Fortune Cheho is an attorney at Trudy Brookman Attorney's Fortune.

972
00:53:49,239 --> 00:53:52,279
Speaker 3: Good evening, Really appreciate your time, thank you. So this

973
00:53:52,440 --> 00:53:54,680
Speaker 3: happened to Buster Sea where Belloy. She had the car

974
00:53:54,840 --> 00:53:57,480
Speaker 3: for four days, she realized it was just hopeless. She

975
00:53:57,600 --> 00:54:00,960
Speaker 3: went to the dealership to cancel the sale she had

976
00:54:01,000 --> 00:54:04,920
Speaker 3: taken out financing and what happened after that because the financer,

977
00:54:04,920 --> 00:54:06,560
Speaker 3: I think it was West Bank, wasn't what did they

978
00:54:06,640 --> 00:54:07,040
Speaker 3: try to do?

979
00:54:08,719 --> 00:54:08,879
Speaker 7: Good?

980
00:54:08,960 --> 00:54:12,480
Speaker 18: Givenings given to you and the listeners. Thank you for

981
00:54:12,560 --> 00:54:16,400
Speaker 18: having me on the show. So yes, we'll see wherever

982
00:54:16,520 --> 00:54:21,040
Speaker 18: Lowy purchased the vik and it was financed by Absurd Bank.

983
00:54:21,160 --> 00:54:25,200
Speaker 18: Actually it was financed by Absurd Bank Limited. And shortly

984
00:54:25,320 --> 00:54:29,520
Speaker 18: after taking delivery off the vik two days later, she

985
00:54:29,719 --> 00:54:34,000
Speaker 18: discovered that the VIKL has a lot of issues. Those

986
00:54:34,120 --> 00:54:38,239
Speaker 18: issues indicaid problems of the gearbox, engine as well as

987
00:54:38,800 --> 00:54:42,279
Speaker 18: as the electronics of the vik and over and above that,

988
00:54:43,280 --> 00:54:47,120
Speaker 18: she found out that the vik was actually involved in

989
00:54:47,239 --> 00:54:52,520
Speaker 18: an accident and was reported as accident damaged, so obviously

990
00:54:52,600 --> 00:54:55,800
Speaker 18: an understandable shot. She took the VIKL back to the

991
00:54:55,920 --> 00:55:01,040
Speaker 18: dealership and demanded that they canceled the install lamental agreement

992
00:55:01,160 --> 00:55:04,360
Speaker 18: between her and the bank and for her to be refunded.

993
00:55:04,480 --> 00:55:08,160
Speaker 18: He had deposit that she paid as well as the

994
00:55:08,320 --> 00:55:11,759
Speaker 18: installments that she paid towards the financing of the vehicle.

995
00:55:11,480 --> 00:55:12,000
Speaker 3: To the bank.

996
00:55:13,040 --> 00:55:16,799
Speaker 18: The dealer she didn't the honor had demands and as

997
00:55:16,880 --> 00:55:20,120
Speaker 18: a result, they're of Absurbank Limited. The air proceeded to

998
00:55:20,280 --> 00:55:24,760
Speaker 18: institute action against in the Joannespeg High Court. They issued

999
00:55:24,800 --> 00:55:29,560
Speaker 18: someone against the aiming for payment of the total cost

1000
00:55:29,640 --> 00:55:33,399
Speaker 18: of the credit, which is over five hundred thousand.

1001
00:55:33,280 --> 00:55:37,319
Speaker 3: N So just understand, sorry, so she didn't have a car,

1002
00:55:38,200 --> 00:55:39,640
Speaker 3: so she did not have the use of the car.

1003
00:55:39,960 --> 00:55:44,880
Speaker 3: She had returned that the but the dealership not returned

1004
00:55:44,920 --> 00:55:49,680
Speaker 3: the money to the bank. No, no, so so which is.

1005
00:55:49,800 --> 00:55:56,120
Speaker 18: Why is this math is particularly interesting because unfortunately for

1006
00:55:56,239 --> 00:56:00,840
Speaker 18: miss Valloi, this only happened before the family gecked judgments

1007
00:56:00,840 --> 00:56:05,040
Speaker 18: are Nix vers Rent Bank Limited judgment and the Supreme

1008
00:56:05,120 --> 00:56:09,400
Speaker 18: courtover appeals were in the court clarify and confirmed that

1009
00:56:09,640 --> 00:56:13,480
Speaker 18: banks which finance vehicles are deemed to be suppliers of

1010
00:56:13,560 --> 00:56:17,319
Speaker 18: those vehicles for purposes of the consumer Protection egg as

1011
00:56:17,360 --> 00:56:20,480
Speaker 18: well as the common law. So, in terms of that judgment,

1012
00:56:20,640 --> 00:56:23,279
Speaker 18: if you have a defective vehicle that is financed by

1013
00:56:23,360 --> 00:56:27,040
Speaker 18: the bank, then your team doesn't lie with the dealership,

1014
00:56:27,400 --> 00:56:29,960
Speaker 18: but the team lies worth the bank. You have the

1015
00:56:30,120 --> 00:56:35,400
Speaker 18: right to retend the VKL of course game for cancelation

1016
00:56:35,520 --> 00:56:39,000
Speaker 18: of the installmentcy like remant and be refunded everything that

1017
00:56:39,160 --> 00:56:41,400
Speaker 18: you paid to the bank, so that in truth the

1018
00:56:41,520 --> 00:56:45,719
Speaker 18: deposit as well as the monthly installments paid. So for

1019
00:56:45,920 --> 00:56:54,080
Speaker 18: that reason, the dealership didn't didn't honor mister valois demands.

1020
00:56:54,280 --> 00:56:58,600
Speaker 18: They simply accepted the VKL and she received no feedback

1021
00:56:58,840 --> 00:56:59,279
Speaker 18: after that.

1022
00:56:59,440 --> 00:56:59,680
Speaker 12: Did she.

1023
00:57:01,719 --> 00:57:06,719
Speaker 18: Got any sort of feedback or correspondence from the financier

1024
00:57:06,880 --> 00:57:10,160
Speaker 18: once they institute a action against the in the Joint'spec

1025
00:57:10,239 --> 00:57:14,480
Speaker 18: High Court again claiming for payment of the total cost

1026
00:57:14,560 --> 00:57:17,880
Speaker 18: of the credit, which is over five hundred thousand rings.

1027
00:57:18,320 --> 00:57:22,720
Speaker 3: Sure, so this goes to court judgments and what did

1028
00:57:22,800 --> 00:57:25,560
Speaker 3: that change? Well, I mean, what happened in the end.

1029
00:57:25,560 --> 00:57:30,280
Speaker 7: With with with with below.

1030
00:57:31,640 --> 00:57:37,000
Speaker 18: So what happened to we'll see weather Louis because the

1031
00:57:37,160 --> 00:57:41,560
Speaker 18: judgment that was issued against it was issued in October

1032
00:57:41,920 --> 00:57:46,560
Speaker 18: twenty five, which was two months before the naked judgment

1033
00:57:46,600 --> 00:57:49,040
Speaker 18: which was entered out in piece. But in the twenty

1034
00:57:49,120 --> 00:57:53,440
Speaker 18: five So after coming across b c Cy weather Louis

1035
00:57:53,560 --> 00:57:58,280
Speaker 18: story and having read an article post about in the media,

1036
00:57:59,360 --> 00:58:02,400
Speaker 18: we as that she contacted us and she reached out

1037
00:58:02,440 --> 00:58:05,080
Speaker 18: to us. She reached out to us, and we've now

1038
00:58:05,200 --> 00:58:09,160
Speaker 18: stepped in, we've now stepped into terrify the position and

1039
00:58:09,400 --> 00:58:13,120
Speaker 18: route they strongly wedded letter of demand to ABS, curifying

1040
00:58:13,200 --> 00:58:15,640
Speaker 18: the legal position in so far as it has been

1041
00:58:15,720 --> 00:58:19,040
Speaker 18: confirmed by the Niku judgment and the Supreme Court of Appeal,

1042
00:58:19,440 --> 00:58:24,160
Speaker 18: curifying that because the VIKL was financed by ABS and

1043
00:58:24,400 --> 00:58:30,280
Speaker 18: because the VEK was defective, Miss s Whevaloi was in

1044
00:58:30,520 --> 00:58:33,920
Speaker 18: fact the one that was entitled to cancel the agreement

1045
00:58:34,320 --> 00:58:38,240
Speaker 18: and be refunded the deposit as well as the installments paid.

1046
00:58:38,640 --> 00:58:41,000
Speaker 18: So we have done that, like I said, in a

1047
00:58:41,040 --> 00:58:45,720
Speaker 18: strongly weded letter of demand, and our corresponding was in

1048
00:58:45,960 --> 00:58:48,640
Speaker 18: order to get joyfulness we'll see Ova Looie so to

1049
00:58:49,160 --> 00:58:52,760
Speaker 18: recent the judgment and for her to get here, to

1050
00:58:52,920 --> 00:58:56,080
Speaker 18: get her deposit as well as the installments paid to

1051
00:58:56,120 --> 00:58:57,040
Speaker 18: the financi.

1052
00:58:56,920 --> 00:58:59,400
Speaker 3: I mean, well said, well look we we we won.

1053
00:58:59,560 --> 00:59:01,560
Speaker 3: We we did all of this in good faith. I mean,

1054
00:59:01,600 --> 00:59:03,440
Speaker 3: I can imagine all sorts of things. I might say,

1055
00:59:04,000 --> 00:59:06,600
Speaker 3: it must happen. Unfortunately when you're an attorney in the

1056
00:59:06,680 --> 00:59:09,720
Speaker 3: space that people get caught in the cracks, and this

1057
00:59:09,880 --> 00:59:12,920
Speaker 3: sort of happened to was to say, we're below here

1058
00:59:12,960 --> 00:59:15,640
Speaker 3: because the judgment just came a little later.

1059
00:59:16,520 --> 00:59:16,800
Speaker 7: Mm hm.

1060
00:59:17,440 --> 00:59:20,760
Speaker 18: So that is that is, that is essentially why it's

1061
00:59:20,920 --> 00:59:24,000
Speaker 18: very important to speak on this because just like in

1062
00:59:24,200 --> 00:59:27,440
Speaker 18: Wisi of Valoi's case, the fact that even though the

1063
00:59:27,560 --> 00:59:31,000
Speaker 18: judgment came later, and even if there is a judgmental,

1064
00:59:31,120 --> 00:59:34,800
Speaker 18: one does still have the option of having the judgmentary

1065
00:59:34,880 --> 00:59:38,320
Speaker 18: synd on the grounds that there's been a judgment of

1066
00:59:38,440 --> 00:59:42,040
Speaker 18: the Supreme Court over appeals verifying that the banks I

1067
00:59:42,240 --> 00:59:47,560
Speaker 18: actually the suppliers and are Liablo and a PA vehicles

1068
00:59:47,640 --> 00:59:53,280
Speaker 18: that they finance is perfective. So every other consumer out

1069
00:59:53,360 --> 00:59:57,040
Speaker 18: there who finds themselves in a similar in a similar

1070
00:59:57,120 --> 01:00:01,000
Speaker 18: situation to that of gussy O Valoi, I definitely reach

1071
01:00:01,040 --> 01:00:03,640
Speaker 18: out to us because they have that right. They have

1072
01:00:03,840 --> 01:00:07,760
Speaker 18: that right the vali aditugment fighted and these and nothing

1073
01:00:07,880 --> 01:00:10,680
Speaker 18: still keep them from approaching as so that you may

1074
01:00:10,800 --> 01:00:13,240
Speaker 18: step in to get some jo different fortune.

1075
01:00:13,320 --> 01:00:16,080
Speaker 3: Chehol thanks so much, attorney at true Brookman Attorney. It's

1076
01:00:16,080 --> 01:00:18,080
Speaker 3: such an interesting case. I mean imagine being the person

1077
01:00:18,080 --> 01:00:21,720
Speaker 3: who gets stuck between these two judgments. The money show

1078
01:00:22,240 --> 01:00:26,040
Speaker 3: shape shifter is twenty four minutes now to eighth the time. Well,

1079
01:00:26,120 --> 01:00:28,280
Speaker 3: if you were to think of South African restaurants that

1080
01:00:28,400 --> 01:00:31,400
Speaker 3: have made an impact, that have grown, that are going overseas,

1081
01:00:31,760 --> 01:00:33,760
Speaker 3: you'd think of a couple. I mean, you'd obviously think

1082
01:00:33,760 --> 01:00:37,640
Speaker 3: of Nando's although restaurant. If you were to think of

1083
01:00:37,800 --> 01:00:41,160
Speaker 3: some then something and someone that it doesn't think completely

1084
01:00:41,240 --> 01:00:44,760
Speaker 3: different hadn't been done before and had come to kind

1085
01:00:44,800 --> 01:00:46,960
Speaker 3: of dominate a market. I mean, I know people who

1086
01:00:47,040 --> 01:00:50,760
Speaker 3: just won't go anywhere else. You would probably immediately think

1087
01:00:50,960 --> 01:00:53,840
Speaker 3: of Tashes, And I think for a couple of reasons.

1088
01:00:53,880 --> 01:00:57,440
Speaker 3: One is just consistently high quality. Yes, there are expensive

1089
01:00:57,440 --> 01:00:59,240
Speaker 3: you do pay for it, but that is the price.

1090
01:00:59,520 --> 01:01:01,760
Speaker 3: You know, you get pretty payple, So I think that

1091
01:01:01,840 --> 01:01:03,760
Speaker 3: would be one thing. I think part of it is

1092
01:01:03,800 --> 01:01:06,520
Speaker 3: also that they're the same but also unique. So I

1093
01:01:06,600 --> 01:01:08,200
Speaker 3: made the point earlier. It's not like going to a

1094
01:01:08,240 --> 01:01:10,480
Speaker 3: Whimpy or a Steers, as much as I love them,

1095
01:01:10,480 --> 01:01:12,320
Speaker 3: where I want the same thing every time I want

1096
01:01:12,360 --> 01:01:14,960
Speaker 3: my burger in exactly the same way. Natasha's you get

1097
01:01:15,000 --> 01:01:16,000
Speaker 3: something slightly different.

1098
01:01:16,680 --> 01:01:17,760
Speaker 12: So how do you do all of that?

1099
01:01:18,360 --> 01:01:20,160
Speaker 3: Well, I suppose the person to ask is the person

1100
01:01:20,200 --> 01:01:23,400
Speaker 3: who found it. Natasha Sadarius, the founder and CEO of

1101
01:01:23,520 --> 01:01:26,760
Speaker 3: Natasha's Group. On the line to us tonight, Natasha, good evening.

1102
01:01:26,800 --> 01:01:28,560
Speaker 3: I can't imagine how busy you are at the moment,

1103
01:01:28,600 --> 01:01:29,920
Speaker 3: so Thanks so much for the time.

1104
01:01:30,680 --> 01:01:32,600
Speaker 19: Bob, thank you for having me on, and thank you

1105
01:01:32,720 --> 01:01:35,200
Speaker 19: for that amazing intro. And for the record, I also

1106
01:01:35,240 --> 01:01:36,160
Speaker 19: love a wimpy burger.

1107
01:01:37,240 --> 01:01:39,440
Speaker 3: I'll make sure. I'll make sure to tell them.

1108
01:01:40,720 --> 01:01:43,640
Speaker 7: Ar you.

1109
01:01:43,840 --> 01:01:46,320
Speaker 3: Actually, you kind of grew up in the industry, right,

1110
01:01:46,400 --> 01:01:47,840
Speaker 3: I mean it was a family thing for you.

1111
01:01:49,200 --> 01:01:49,560
Speaker 20: Correct.

1112
01:01:49,960 --> 01:01:52,360
Speaker 19: I've been in the game for over thirty years. My

1113
01:01:52,520 --> 01:01:56,480
Speaker 19: dad was a chef and a restauranteur. Swore that I

1114
01:01:56,480 --> 01:01:59,360
Speaker 19: would never get involved in the hospitality business because and

1115
01:01:59,480 --> 01:02:01,400
Speaker 19: the restaurant business, because it's such because he was at

1116
01:02:01,440 --> 01:02:05,120
Speaker 19: hotels and restaurants, such a tough, tough industry with so

1117
01:02:05,240 --> 01:02:08,720
Speaker 19: many variables and long, long hours. When to help him

1118
01:02:08,720 --> 01:02:12,000
Speaker 19: out for a few shifts while I was studying psychology

1119
01:02:12,040 --> 01:02:13,600
Speaker 19: at vits fell in love.

1120
01:02:14,480 --> 01:02:17,200
Speaker 20: And I'm giving you a very summarized story.

1121
01:02:17,240 --> 01:02:21,640
Speaker 19: And here we are today, forty five venues later, and

1122
01:02:21,680 --> 01:02:24,000
Speaker 19: we call them venues because I have forty restaurants and

1123
01:02:24,080 --> 01:02:29,400
Speaker 19: five retail stores and opening another eighty sixteen this year.

1124
01:02:29,800 --> 01:02:33,040
Speaker 3: Sure, that's a very fast rate of growth. What was

1125
01:02:33,120 --> 01:02:33,560
Speaker 3: it about it?

1126
01:02:33,680 --> 01:02:33,720
Speaker 6: So?

1127
01:02:33,800 --> 01:02:35,840
Speaker 3: I mean, you know, I often when I go into

1128
01:02:35,880 --> 01:02:39,000
Speaker 3: a restaurant, I am one of those slightly boring people

1129
01:02:39,040 --> 01:02:41,560
Speaker 3: to think I don't really want to do this. I

1130
01:02:41,640 --> 01:02:43,360
Speaker 3: mean I don't mean go to it, I mean working it.

1131
01:02:43,680 --> 01:02:44,120
Speaker 7: What is it?

1132
01:02:44,320 --> 01:02:46,520
Speaker 3: But I have come across people. You're not the first

1133
01:02:46,560 --> 01:02:50,400
Speaker 3: person I've spoken to who just loves it. Is there

1134
01:02:51,360 --> 01:02:56,440
Speaker 3: a thing about it? Is there a satisfaction to it? Maybe?

1135
01:02:56,880 --> 01:02:57,760
Speaker 1: Yes, I think.

1136
01:02:57,880 --> 01:02:59,920
Speaker 20: I mean I love people and that's my first love.

1137
01:03:00,200 --> 01:03:03,160
Speaker 19: And when you're in the restaurant business, you get to

1138
01:03:03,320 --> 01:03:06,480
Speaker 19: work with people at very different levels, whether that's with

1139
01:03:06,600 --> 01:03:11,560
Speaker 19: your staff or your customers, or investors or your business partners.

1140
01:03:11,640 --> 01:03:16,080
Speaker 20: So a is the love of people. I absolutely love interiors.

1141
01:03:16,400 --> 01:03:18,640
Speaker 19: My brother's an interior designer who's a co founder in

1142
01:03:18,680 --> 01:03:22,400
Speaker 19: the business Sava, and my mom was very, very autistic,

1143
01:03:22,520 --> 01:03:25,080
Speaker 19: and so I get to experience all of that every

1144
01:03:25,120 --> 01:03:28,800
Speaker 19: single day working with the various people, whether that's stylists

1145
01:03:28,880 --> 01:03:31,680
Speaker 19: or interior designers. And then, of course I'm not switching

1146
01:03:31,720 --> 01:03:34,600
Speaker 19: on my video, but if you saw me, absolutely love

1147
01:03:34,680 --> 01:03:37,280
Speaker 19: food a little bit overweight, and I get to work

1148
01:03:37,360 --> 01:03:39,400
Speaker 19: with food every day. So I think, you know the

1149
01:03:39,520 --> 01:03:43,000
Speaker 19: three things that I really love. Food, people, interiors. I

1150
01:03:43,120 --> 01:03:45,560
Speaker 19: have the privilege of having that in my daily life.

1151
01:03:45,640 --> 01:03:48,680
Speaker 19: It doesn't come without stress. Especially now we're going through

1152
01:03:48,680 --> 01:03:49,840
Speaker 19: a pretty stressful time.

1153
01:03:50,160 --> 01:03:52,800
Speaker 20: In the UAE in the East.

1154
01:03:52,840 --> 01:03:56,800
Speaker 19: But yeah, I wouldn't say it's one thing. It's a

1155
01:03:56,920 --> 01:04:00,000
Speaker 19: number of things. And then that hook is the adrenaline.

1156
01:04:00,800 --> 01:04:05,040
Speaker 19: And I have been blessed enough and lucky enough to

1157
01:04:05,280 --> 01:04:08,560
Speaker 19: have always worked in very busy restaurants, and I think

1158
01:04:08,680 --> 01:04:12,320
Speaker 19: just that adrenaline of being on the floor and being

1159
01:04:12,360 --> 01:04:14,440
Speaker 19: in the kitchen is a big factor.

1160
01:04:15,240 --> 01:04:18,080
Speaker 3: You did psychology advitz, and I wanted to ask if

1161
01:04:18,120 --> 01:04:20,240
Speaker 3: that maybe helped you understand one or two of you

1162
01:04:20,360 --> 01:04:22,120
Speaker 3: more difficult customers than.

1163
01:04:23,840 --> 01:04:26,520
Speaker 19: I only did a be a psychology for three years,

1164
01:04:26,560 --> 01:04:28,600
Speaker 19: and I think people still call it a bug roll.

1165
01:04:28,640 --> 01:04:30,360
Speaker 19: And that's not to insult anyone else, but I only

1166
01:04:30,360 --> 01:04:32,840
Speaker 19: needed three years. I didn't carry on with my studies.

1167
01:04:33,160 --> 01:04:37,280
Speaker 19: I certainly think that studying both sociology and psychology helped.

1168
01:04:39,320 --> 01:04:40,680
Speaker 19: But yeah, I mean I would have loved to have

1169
01:04:40,720 --> 01:04:43,920
Speaker 19: studied further. But the restaurant business has taken over.

1170
01:04:44,520 --> 01:04:47,800
Speaker 3: So I mean, you have to make attaches, attash it right,

1171
01:04:48,320 --> 01:04:49,680
Speaker 3: you have to make it different. So the one in

1172
01:04:49,760 --> 01:04:51,760
Speaker 3: Santin is very different to the one up the road

1173
01:04:51,800 --> 01:04:54,200
Speaker 3: in Hyde Park. You have to have the same quality,

1174
01:04:54,640 --> 01:04:57,120
Speaker 3: but they have to also be slightly different. Isn't that

1175
01:04:57,280 --> 01:04:58,360
Speaker 3: quite a tricky thing to do?

1176
01:04:59,320 --> 01:05:02,840
Speaker 19: Yeah, well, I think those two references are totally different

1177
01:05:02,920 --> 01:05:07,400
Speaker 19: because Hyde Park isn't atashas it's a Lippark, which is

1178
01:05:07,480 --> 01:05:09,680
Speaker 19: our French brand, and we're opening a couple more of

1179
01:05:09,760 --> 01:05:11,920
Speaker 19: those and even making it more distinctly French.

1180
01:05:12,440 --> 01:05:14,760
Speaker 20: But definitely the Tashes are.

1181
01:05:14,440 --> 01:05:17,439
Speaker 19: Unique and there's a reason they've got a signature menu

1182
01:05:17,600 --> 01:05:20,120
Speaker 19: which anchors the brand. It's the golden thread that holds

1183
01:05:20,120 --> 01:05:21,760
Speaker 19: it together and you can go and get your favorites

1184
01:05:21,800 --> 01:05:25,200
Speaker 19: off that classic menu. But we thought it's really important

1185
01:05:25,240 --> 01:05:27,960
Speaker 19: not to have a cookie cutter model of the franchise,

1186
01:05:29,080 --> 01:05:31,360
Speaker 19: and we've even done that in Dubai from a look

1187
01:05:31,440 --> 01:05:33,720
Speaker 19: point of view, and having this menu that we called

1188
01:05:33,760 --> 01:05:37,680
Speaker 19: an inspired menu, inspired by the suburbs, inspired by the

1189
01:05:37,760 --> 01:05:43,760
Speaker 19: business sensors, inspired by Spain, inspired by Greece, because I

1190
01:05:43,840 --> 01:05:46,680
Speaker 19: think a brand like ours needs a level of finesse

1191
01:05:46,920 --> 01:05:51,360
Speaker 19: and a level of I hate using this word because

1192
01:05:51,360 --> 01:05:56,360
Speaker 19: it's so contralt, but a level of bespokeness where it

1193
01:05:56,440 --> 01:05:59,160
Speaker 19: does feel different, and especially when you've got them in

1194
01:05:59,360 --> 01:06:02,080
Speaker 19: you know, relative close proximities that we've got Tasha and

1195
01:06:02,160 --> 01:06:05,280
Speaker 19: Nelson Mandela. We've just renovated, got alex X up the road,

1196
01:06:05,600 --> 01:06:10,000
Speaker 19: iconic location, and then you've got Rosebank. You've got to

1197
01:06:10,040 --> 01:06:12,280
Speaker 19: make sure they're all a little bit different so that

1198
01:06:12,400 --> 01:06:14,280
Speaker 19: customers don't get bored.

1199
01:06:14,800 --> 01:06:17,320
Speaker 20: And of course your franchisees can own the identity.

1200
01:06:18,320 --> 01:06:21,959
Speaker 3: Yeah, and we get bored easily, especially these days.

1201
01:06:22,040 --> 01:06:23,120
Speaker 20: Yes, but social media.

1202
01:06:23,920 --> 01:06:25,920
Speaker 3: So I mean I was interested in the menu because

1203
01:06:26,440 --> 01:06:28,920
Speaker 3: it's diverse. I mean, you know, you're not going to

1204
01:06:29,040 --> 01:06:31,520
Speaker 3: run a restaurant like that. That's not going to appeal

1205
01:06:31,560 --> 01:06:35,000
Speaker 3: to most people. But it's not too diverse. And obviously

1206
01:06:35,040 --> 01:06:39,280
Speaker 3: the bigger your menu, the more expensive things are. And

1207
01:06:40,320 --> 01:06:43,600
Speaker 3: I wondered how you go about about devising the menu.

1208
01:06:43,680 --> 01:06:45,720
Speaker 3: You also have to refresh it from time to time.

1209
01:06:45,800 --> 01:06:48,720
Speaker 3: I mean, yes, I'm sure your first one did omelets

1210
01:06:48,760 --> 01:06:51,640
Speaker 3: for breakfast, and you know the ones you have now

1211
01:06:51,760 --> 01:06:54,680
Speaker 3: do omelets for breakfast too, But then to change.

1212
01:06:55,680 --> 01:06:58,160
Speaker 19: Funnily enough, we've had the same sections on the menu

1213
01:06:58,280 --> 01:07:02,640
Speaker 19: since they won. And that menu was a culmination of

1214
01:07:03,240 --> 01:07:06,480
Speaker 19: a menu committee made up of my two very best

1215
01:07:06,520 --> 01:07:08,960
Speaker 19: friends who are our business partners in an amazing branding

1216
01:07:09,040 --> 01:07:13,200
Speaker 19: agency called am Studio, and we sat as a menu

1217
01:07:13,240 --> 01:07:16,840
Speaker 19: committee together with my brother and decided went through magazines

1218
01:07:16,880 --> 01:07:19,640
Speaker 19: those days, there was no social media, no Instagram.

1219
01:07:19,800 --> 01:07:22,720
Speaker 20: And put together this unbelievable menu.

1220
01:07:22,760 --> 01:07:24,800
Speaker 19: Were putting a twist on stuff that we liked all

1221
01:07:24,920 --> 01:07:29,040
Speaker 19: my travels or family dishes, and pretty much that menu

1222
01:07:29,440 --> 01:07:31,600
Speaker 19: has still remained intact, and every time I try and

1223
01:07:31,720 --> 01:07:34,080
Speaker 19: change it, I'll either get an email from someone who

1224
01:07:34,160 --> 01:07:37,880
Speaker 19: says you left South Africa and abandoned us, and you

1225
01:07:37,960 --> 01:07:40,120
Speaker 19: took the chicken pot pile of the menu out there

1226
01:07:40,200 --> 01:07:46,080
Speaker 19: you or you know, we just we can't move those favorites,

1227
01:07:46,080 --> 01:07:48,480
Speaker 19: but we do innovate, as you say. And a place

1228
01:07:48,520 --> 01:07:52,640
Speaker 19: where our culinary director can be especially creative together with myself,

1229
01:07:53,200 --> 01:07:56,360
Speaker 19: is on these inspired by menus where we can push boundaries,

1230
01:07:57,000 --> 01:07:59,720
Speaker 19: look at trends. The beverage director can push the envelope

1231
01:07:59,760 --> 01:08:02,720
Speaker 19: with and I think that's really important for a brand

1232
01:08:02,760 --> 01:08:06,120
Speaker 19: because we are twenty years old and you can't become

1233
01:08:06,160 --> 01:08:08,160
Speaker 19: a dinosaur and just say well, I'm only doing what

1234
01:08:08,240 --> 01:08:12,880
Speaker 19: I did in the past. And with social media, the

1235
01:08:12,960 --> 01:08:15,600
Speaker 19: speed with which you have to change has become more

1236
01:08:15,640 --> 01:08:20,080
Speaker 19: and more pressurized. And being in inverted commerce on trend

1237
01:08:21,360 --> 01:08:23,200
Speaker 19: making sure you keep a couple of the time it's important,

1238
01:08:23,240 --> 01:08:25,839
Speaker 19: but also not buckling to every trend is equally important

1239
01:08:25,880 --> 01:08:30,960
Speaker 19: because I think remaining classic and rooted in what you

1240
01:08:31,120 --> 01:08:33,760
Speaker 19: do and confident in what you do will then give

1241
01:08:33,800 --> 01:08:38,200
Speaker 19: the customer confidence. But not an easy task. And we've

1242
01:08:38,200 --> 01:08:42,439
Speaker 19: got fourteen brands I think I'm going to have to

1243
01:08:42,479 --> 01:08:45,960
Speaker 19: count now, but close to thirty tashes, each with their

1244
01:08:46,000 --> 01:08:50,040
Speaker 19: own inspired by menu ranging from between twelve and sixteen items.

1245
01:08:50,960 --> 01:08:52,639
Speaker 19: It's a mammoth task. But I've got a really big

1246
01:08:52,720 --> 01:08:54,200
Speaker 19: team and a very talented team.

1247
01:08:54,320 --> 01:08:59,160
Speaker 3: So yeah, I mean people who cook professionally, and let

1248
01:08:59,200 --> 01:09:02,160
Speaker 3: me just be very clear on this, I think you

1249
01:09:02,280 --> 01:09:04,519
Speaker 3: get a chef's hat. I can't remember what the proper

1250
01:09:04,640 --> 01:09:07,200
Speaker 3: name is when you can sort of do all two

1251
01:09:07,320 --> 01:09:09,479
Speaker 3: hundred ways there are to cook an egg and I'm

1252
01:09:09,520 --> 01:09:11,880
Speaker 3: one hundred and ninety seven ways away from that. So

1253
01:09:11,960 --> 01:09:15,440
Speaker 3: that's how bad Michaelpan is. But people who could professionally

1254
01:09:15,479 --> 01:09:17,640
Speaker 3: tell me that one of the most important things, if

1255
01:09:17,720 --> 01:09:20,479
Speaker 3: not the most important thing, is the ingredients, the quality

1256
01:09:20,520 --> 01:09:26,200
Speaker 3: of the ingredients. And when you started, was it easy

1257
01:09:26,439 --> 01:09:29,840
Speaker 3: difficult to get the quality of the ingredients that you

1258
01:09:29,960 --> 01:09:33,000
Speaker 3: needed and that you need it so consistently you.

1259
01:09:33,040 --> 01:09:34,840
Speaker 19: Know, I think we've blessed in South Africa and in

1260
01:09:34,920 --> 01:09:38,559
Speaker 19: the UAE of South Africa because you know, we've got

1261
01:09:39,320 --> 01:09:44,160
Speaker 19: amazing farmers and producers and you can get incredible cheeses,

1262
01:09:44,200 --> 01:09:47,880
Speaker 19: fresh produce meat. So no, it wasn't a struggle at all.

1263
01:09:47,960 --> 01:09:51,400
Speaker 19: And in the UAE, you know, whatever you want, your

1264
01:09:51,520 --> 01:09:54,280
Speaker 19: your whatever your wishes, you can have it. In terms

1265
01:09:54,320 --> 01:09:58,559
Speaker 19: of ingredients, and we have been maniacal about ingredients since

1266
01:09:58,600 --> 01:10:01,760
Speaker 19: the beginning and becoming more and more maniacal in my

1267
01:10:01,840 --> 01:10:05,760
Speaker 19: old age. We've got committees where we check ingredients all

1268
01:10:05,800 --> 01:10:09,479
Speaker 19: the time. And those people who went when chef's hats

1269
01:10:09,680 --> 01:10:14,000
Speaker 19: and the mission and awards are absolutely correct. It all

1270
01:10:14,040 --> 01:10:16,639
Speaker 19: starts with ingredients. If you're not you're a good ingredients,

1271
01:10:16,800 --> 01:10:18,599
Speaker 19: you're not going to make a great dish. You can't

1272
01:10:18,640 --> 01:10:22,599
Speaker 19: disguise cheap ingredients and you can't fool people.

1273
01:10:23,520 --> 01:10:26,640
Speaker 3: Yeah, the start the best they're going to know. I mean,

1274
01:10:26,680 --> 01:10:29,360
Speaker 3: you talk about social media, and I think on one level,

1275
01:10:30,600 --> 01:10:33,680
Speaker 3: you know, I remember speaking to someone who started a

1276
01:10:33,760 --> 01:10:35,400
Speaker 3: gym business and the way she did it. It's a

1277
01:10:35,439 --> 01:10:37,479
Speaker 3: sort of in your in home gym business. You know,

1278
01:10:37,600 --> 01:10:39,320
Speaker 3: she'll come to you and take you through it. And

1279
01:10:39,439 --> 01:10:42,759
Speaker 3: what she did as a student was actually put flyers

1280
01:10:42,840 --> 01:10:47,519
Speaker 3: under people's windscreen wipers at university and in offices. That's

1281
01:10:47,560 --> 01:10:51,360
Speaker 3: how she started. Then social media took over. I would

1282
01:10:51,400 --> 01:10:54,240
Speaker 3: imagine for the restaurant business. For you, there are lots

1283
01:10:54,280 --> 01:10:57,479
Speaker 3: of opportunities to market using social media to stay sort

1284
01:10:57,520 --> 01:10:59,920
Speaker 3: of on trend, people taking pictures of you and your

1285
01:11:00,240 --> 01:11:03,880
Speaker 3: your restaurants lend themselves to that. There's also, and we've

1286
01:11:03,920 --> 01:11:05,880
Speaker 3: seen this happen so many times, you can get on

1287
01:11:05,920 --> 01:11:08,120
Speaker 3: the wrong side of social media for something you didn't

1288
01:11:08,240 --> 01:11:10,479
Speaker 3: even do, I had no control over, and that can

1289
01:11:10,520 --> 01:11:11,600
Speaker 3: be almost impossible.

1290
01:11:12,520 --> 01:11:12,720
Speaker 18: Yeah.

1291
01:11:12,880 --> 01:11:15,120
Speaker 19: I mean, I have to say I'm not a big

1292
01:11:15,240 --> 01:11:17,639
Speaker 19: fan of social media. I don't have my own social

1293
01:11:17,720 --> 01:11:21,920
Speaker 19: media accounts and Facebook. I don't even know how Facebook works.

1294
01:11:21,960 --> 01:11:25,320
Speaker 19: But I do understand that it is a necessary tool.

1295
01:11:25,680 --> 01:11:28,759
Speaker 19: And I'll say the word tool because when Instagram first started,

1296
01:11:28,840 --> 01:11:31,639
Speaker 19: first of all, I resisted it, and our brand director

1297
01:11:31,720 --> 01:11:32,519
Speaker 19: Tessa Graham.

1298
01:11:32,400 --> 01:11:33,720
Speaker 20: Was like, you have to go on your can't get

1299
01:11:33,800 --> 01:11:35,360
Speaker 20: left behind. I was like, oh, you know, if we

1300
01:11:35,439 --> 01:11:36,080
Speaker 20: have to, we have to.

1301
01:11:36,600 --> 01:11:39,599
Speaker 19: But those days, I think it was about fifteen years

1302
01:11:39,600 --> 01:11:42,439
Speaker 19: ago when Instagram first came out, you could just post

1303
01:11:42,479 --> 01:11:46,400
Speaker 19: a nice picture, and it wasn't as competitive. Now social

1304
01:11:46,479 --> 01:11:50,400
Speaker 19: media has become a business tool and it requires you know,

1305
01:11:50,520 --> 01:11:56,559
Speaker 19: a certain level of expertise to really use that tool

1306
01:11:56,640 --> 01:11:59,639
Speaker 19: in a meaningful way, to get more clients, to draft

1307
01:11:59,640 --> 01:12:01,639
Speaker 19: feed through the door, to drive home a message.

1308
01:12:02,600 --> 01:12:05,400
Speaker 20: Thank god, I've got other people who do that for us.

1309
01:12:06,280 --> 01:12:07,599
Speaker 20: I don't love it. I can't.

1310
01:12:07,640 --> 01:12:10,800
Speaker 19: I've deleted Instagram for four years, had my birthday last year,

1311
01:12:10,840 --> 01:12:12,599
Speaker 19: went back on to get some ideas and I can't

1312
01:12:12,640 --> 01:12:14,280
Speaker 19: get off. So it just shows you how addictive it is.

1313
01:12:14,840 --> 01:12:18,080
Speaker 19: A fantastic place to get inspiration and ideas from. But

1314
01:12:18,600 --> 01:12:21,360
Speaker 19: at the same time, I feel there's a risk of

1315
01:12:21,400 --> 01:12:25,320
Speaker 19: the world becoming totally homogenized because in my days I

1316
01:12:25,360 --> 01:12:27,280
Speaker 19: would pick up a book or I think of my

1317
01:12:27,360 --> 01:12:29,800
Speaker 19: granny's recipe, or my brother would say, do you remember

1318
01:12:29,880 --> 01:12:34,040
Speaker 19: Mommy used to cook us this, and then we would.

1319
01:12:33,960 --> 01:12:37,200
Speaker 20: Like huddle together and make something. Now you're just scrolling

1320
01:12:37,320 --> 01:12:42,760
Speaker 20: and yeah, ideas are easy to get and find and

1321
01:12:42,880 --> 01:12:44,559
Speaker 20: also easy for people to copy.

1322
01:12:45,360 --> 01:12:47,960
Speaker 3: I'd never thought of that. Actually, yeah, it makes us

1323
01:12:48,000 --> 01:12:50,200
Speaker 3: all the same rather than I.

1324
01:12:50,240 --> 01:12:53,400
Speaker 19: Just create a level of homogenization. And that's why I say,

1325
01:12:54,040 --> 01:12:56,160
Speaker 19: you know, holding onto your identity is really important.

1326
01:12:57,160 --> 01:13:00,639
Speaker 3: Natasha Sadaris is your shape shift tonight, found and CEO

1327
01:13:00,760 --> 01:13:03,519
Speaker 3: of Attaches group you with The Money Show. It's eleven

1328
01:13:03,560 --> 01:13:04,960
Speaker 3: minutes now to educate.

1329
01:13:06,360 --> 01:13:08,800
Speaker 16: The Money Show Stephen Cruetes is brought to you by

1330
01:13:08,880 --> 01:13:13,479
Speaker 16: Appsolve Corporate and Investment backing proud sponsors of GTR Africa

1331
01:13:13,600 --> 01:13:17,120
Speaker 16: twenty twenty six, enabling trade flows for growth, as is

1332
01:13:17,160 --> 01:13:18,040
Speaker 16: already every.

1333
01:13:19,920 --> 01:13:22,200
Speaker 2: The Money Show shape Shift.

1334
01:13:22,040 --> 01:13:26,360
Speaker 3: Is nine minutes now to eighth the time. Natasha, I remember,

1335
01:13:26,600 --> 01:13:28,080
Speaker 3: I don't know why I have this memory, but I

1336
01:13:28,160 --> 01:13:32,800
Speaker 3: remember during lockdown and you were obviously hugely affected by it,

1337
01:13:34,120 --> 01:13:35,800
Speaker 3: and if I if I recall in fact, you were

1338
01:13:35,840 --> 01:13:39,280
Speaker 3: speaking publicly about how difficult it was, and I mean,

1339
01:13:39,320 --> 01:13:41,360
Speaker 3: this is a terrible sort of thing to raise, but

1340
01:13:41,439 --> 01:13:44,360
Speaker 3: I wondered if you ever during that time thought, actually,

1341
01:13:45,000 --> 01:13:46,600
Speaker 3: you know, you may not survive this or have to

1342
01:13:46,640 --> 01:13:47,320
Speaker 3: start again or.

1343
01:13:47,360 --> 01:13:50,240
Speaker 20: Something absolutely, And that was my first thought.

1344
01:13:50,320 --> 01:13:53,639
Speaker 19: And I remember, you know, I gave everyone four days

1345
01:13:53,680 --> 01:13:56,639
Speaker 19: to catch their breath, including myself, and then just rally

1346
01:13:56,720 --> 01:13:58,680
Speaker 19: the team to say what are we going to do

1347
01:13:58,920 --> 01:13:59,960
Speaker 19: and how are we going to pervot?

1348
01:14:00,400 --> 01:14:03,880
Speaker 20: I think quite different to what we're going through now.

1349
01:14:03,960 --> 01:14:07,479
Speaker 19: But absolutely, I mean, you know you, you know you

1350
01:14:07,880 --> 01:14:10,720
Speaker 19: you're staring into the abyss and thinking, wow, I've spent

1351
01:14:10,800 --> 01:14:13,400
Speaker 19: the last twenty years building this business with blood, sweats

1352
01:14:13,400 --> 01:14:15,880
Speaker 19: and tears. Everyone's put their whole lively into it and

1353
01:14:15,960 --> 01:14:18,800
Speaker 19: livelihood into it and there and they're such a strong

1354
01:14:18,840 --> 01:14:20,760
Speaker 19: work ethic in our in our company, which I'm so

1355
01:14:20,840 --> 01:14:22,920
Speaker 19: grateful for. And then all of a sudden, you know,

1356
01:14:23,200 --> 01:14:25,120
Speaker 19: overnight or in a couple of months, you can lose it.

1357
01:14:26,040 --> 01:14:26,160
Speaker 15: Uh.

1358
01:14:26,600 --> 01:14:30,360
Speaker 19: And we although I'm very very optimistic about the UAE,

1359
01:14:31,080 --> 01:14:33,639
Speaker 19: and I hope you can hear the smile through the radio.

1360
01:14:33,920 --> 01:14:36,040
Speaker 19: You know, I'm blessed to have been born in South

1361
01:14:36,080 --> 01:14:39,360
Speaker 19: Africa and that's where my resilience and my grip comes from.

1362
01:14:40,080 --> 01:14:43,400
Speaker 19: I'm Greek by heritage, so you know, soulful and all

1363
01:14:43,439 --> 01:14:46,680
Speaker 19: of that that that's ancient culture. And then I've been

1364
01:14:46,720 --> 01:14:50,599
Speaker 19: living in Dubai for the last ten years and I'm

1365
01:14:50,720 --> 01:14:54,240
Speaker 19: so proud of I mean, I almost want to bring

1366
01:14:54,360 --> 01:14:58,439
Speaker 19: bring myself to tears or I'm sorry. I feel very

1367
01:14:58,520 --> 01:15:01,400
Speaker 19: patriotic towards the UAE. I think they have done an

1368
01:15:01,439 --> 01:15:04,960
Speaker 19: incredible job in protecting us and and being we're still

1369
01:15:05,000 --> 01:15:08,240
Speaker 19: able to trade even though not not at full speed.

1370
01:15:08,840 --> 01:15:12,400
Speaker 19: But wow, what a government, what a place, and I

1371
01:15:12,520 --> 01:15:16,120
Speaker 19: feel privileged to be a resident of the UE.

1372
01:15:16,960 --> 01:15:19,720
Speaker 3: It must be quite an experience to be there now,

1373
01:15:20,200 --> 01:15:23,120
Speaker 3: to be sort of thinking about everything that's going on,

1374
01:15:24,360 --> 01:15:29,120
Speaker 3: to not know what the future necessarily holds. I mean,

1375
01:15:29,120 --> 01:15:30,439
Speaker 3: I don't want to push you on this, but our

1376
01:15:30,520 --> 01:15:33,120
Speaker 3: customer is still coing out. I mean.

1377
01:15:34,640 --> 01:15:40,120
Speaker 20: So I Unluckily enough, I'm not actually in the UAE.

1378
01:15:40,240 --> 01:15:42,679
Speaker 19: I had knee surgery and I'm not allowed to travel

1379
01:15:43,120 --> 01:15:45,840
Speaker 19: until you know, sometime in April, and then I'm gonna

1380
01:15:45,840 --> 01:15:48,840
Speaker 19: make my way back to the team there. But I'm

1381
01:15:48,960 --> 01:15:51,200
Speaker 19: on the line of them every single day. People are

1382
01:15:51,240 --> 01:15:55,120
Speaker 19: still going out. Turnovers have been affected. We'll wait to

1383
01:15:55,160 --> 01:15:59,000
Speaker 19: see what happens after E tomorrow, but yeah, of course

1384
01:15:59,040 --> 01:16:00,000
Speaker 19: turnovers have been effected.

1385
01:16:00,120 --> 01:16:02,120
Speaker 20: People are I wouldn't say they're.

1386
01:16:01,960 --> 01:16:05,400
Speaker 19: Frightened, but I mean not easy to be in an

1387
01:16:05,479 --> 01:16:07,519
Speaker 19: environment where you don't know what's going to happen day today.

1388
01:16:07,560 --> 01:16:09,920
Speaker 19: But the government's doing an unbelievable job at protecting I

1389
01:16:09,960 --> 01:16:12,680
Speaker 19: don't know any other country who'd have so many missiles

1390
01:16:13,000 --> 01:16:14,439
Speaker 19: and so many drones coming in on.

1391
01:16:14,479 --> 01:16:17,600
Speaker 20: A daily basis and have almost no casualty.

1392
01:16:17,800 --> 01:16:20,920
Speaker 19: So you know, I do sound like I'm being overly patriotic,

1393
01:16:21,000 --> 01:16:22,679
Speaker 19: and I'm going to say no, I'm not getting paid.

1394
01:16:22,720 --> 01:16:23,880
Speaker 20: No one called me from the.

1395
01:16:23,960 --> 01:16:26,120
Speaker 19: UAE and said you better say X, Y and Z.

1396
01:16:26,479 --> 01:16:29,840
Speaker 19: I love Dubai, I love the UAE and I love

1397
01:16:29,920 --> 01:16:31,120
Speaker 19: their stand for sure.

1398
01:16:31,320 --> 01:16:35,760
Speaker 3: So interesting. So I mean, you've got your outlets in

1399
01:16:35,800 --> 01:16:38,479
Speaker 3: the EUE. You've also got I think one in the UK.

1400
01:16:38,720 --> 01:16:41,439
Speaker 3: Now it's a huge market. It's also got a very

1401
01:16:41,520 --> 01:16:44,519
Speaker 3: sophisticated or it used to have, at least spose before Brexit,

1402
01:16:44,840 --> 01:16:49,000
Speaker 3: a very sophisticated restaurant scene. What do you think the

1403
01:16:49,080 --> 01:16:53,599
Speaker 3: prospects are there, because I think they they're a bit snobbish,

1404
01:16:53,640 --> 01:16:54,200
Speaker 3: you know what I mean.

1405
01:16:55,360 --> 01:17:00,439
Speaker 19: So I think we've satisfied the guests need we hell

1406
01:17:00,479 --> 01:17:02,880
Speaker 19: of a busy. You'll know that I'm a straight shooters

1407
01:17:02,880 --> 01:17:06,719
Speaker 19: and I donn hide away from any interview. Very difficult

1408
01:17:06,760 --> 01:17:09,599
Speaker 19: to make money in the UK, and if we could

1409
01:17:09,720 --> 01:17:12,160
Speaker 19: make more margin, we would have already expanded.

1410
01:17:12,320 --> 01:17:13,280
Speaker 20: We've only got the one.

1411
01:17:14,320 --> 01:17:16,599
Speaker 19: It's great for us. We serve hundreds of people a day,

1412
01:17:17,200 --> 01:17:19,400
Speaker 19: got an amazing team there. But is it a viable

1413
01:17:19,520 --> 01:17:21,280
Speaker 19: business models it?

1414
01:17:21,800 --> 01:17:23,639
Speaker 20: Does it still have that snobby restaurant scene.

1415
01:17:23,680 --> 01:17:25,240
Speaker 19: It does, but I think it's become more and more

1416
01:17:25,280 --> 01:17:28,720
Speaker 19: difficult for restaurants to make money, certainly for us.

1417
01:17:28,880 --> 01:17:30,400
Speaker 20: If there was a food group we wanted to get

1418
01:17:30,439 --> 01:17:31,800
Speaker 20: involved with us and knew how.

1419
01:17:31,720 --> 01:17:34,880
Speaker 19: To scale with making money in the UAE, I mean

1420
01:17:34,960 --> 01:17:36,800
Speaker 19: in the UK, we would do it with them, but

1421
01:17:37,120 --> 01:17:42,439
Speaker 19: not alone. It's a brutal, brutal trading environment. Not easy

1422
01:17:42,560 --> 01:17:44,960
Speaker 19: to control food costs. When I say not easy to control,

1423
01:17:45,080 --> 01:17:46,400
Speaker 19: you know if you're not part of a group, Very

1424
01:17:46,400 --> 01:17:47,439
Speaker 19: difficult to get good.

1425
01:17:47,320 --> 01:17:50,760
Speaker 20: Buying labor is very difficult. The taxes there.

1426
01:17:51,200 --> 01:17:53,479
Speaker 19: I can go on and on and on, and probably

1427
01:17:53,680 --> 01:17:56,320
Speaker 19: was the hardest opening of my of my entire life.

1428
01:17:56,920 --> 01:17:57,800
Speaker 20: I think my brother and I.

1429
01:17:57,880 --> 01:18:01,000
Speaker 19: Still got PTSD then got the shop smooth sailing now

1430
01:18:01,960 --> 01:18:06,200
Speaker 19: doing well in terms of turnover, but very little bottom

1431
01:18:06,280 --> 01:18:10,200
Speaker 19: line and almost not not worth the effort, to be honest.

1432
01:18:10,280 --> 01:18:12,040
Speaker 19: And I wish that the government would see what they

1433
01:18:12,160 --> 01:18:15,280
Speaker 19: are doing to the hospitality industry because it's such an

1434
01:18:15,320 --> 01:18:19,519
Speaker 19: incredible to your point, such an incredible hospitality industry, and

1435
01:18:19,560 --> 01:18:22,040
Speaker 19: you say snobbish, but now they've got everything and anything

1436
01:18:22,080 --> 01:18:24,600
Speaker 19: that you can think of, from trendy to mass to

1437
01:18:24,760 --> 01:18:29,800
Speaker 19: high end and they're not doing the restaurant business and

1438
01:18:29,880 --> 01:18:32,439
Speaker 19: the fast food business service and lots of people are

1439
01:18:32,479 --> 01:18:38,400
Speaker 19: just closing. Yeah, hard, hard heart difficult, difficult, brutal trading environment.

1440
01:18:38,880 --> 01:18:41,439
Speaker 3: Sure, I mean so many people, so many South African

1441
01:18:41,479 --> 01:18:43,519
Speaker 3: businesses that have operations in the UK, I think are

1442
01:18:43,600 --> 01:18:46,400
Speaker 3: looking at very limited growth prospects because of the situation there.

1443
01:18:47,479 --> 01:18:50,160
Speaker 3: And it's actually you. You at one point, so you

1444
01:18:50,240 --> 01:18:51,760
Speaker 3: were a student, you grew up in the trade. You

1445
01:18:52,640 --> 01:18:55,760
Speaker 3: at one point, actually I did think worked for one

1446
01:18:55,800 --> 01:18:57,920
Speaker 3: of the big, the big restaurant companies, and you took

1447
01:18:57,920 --> 01:18:59,880
Speaker 3: a decision to go out on you and you start

1448
01:19:00,160 --> 01:19:02,720
Speaker 3: one in Athole Square. You would have started another, and

1449
01:19:02,800 --> 01:19:04,960
Speaker 3: another and another. You would have taken the decision to

1450
01:19:05,000 --> 01:19:09,080
Speaker 3: go to the UAE. Was there any particular step along

1451
01:19:09,160 --> 01:19:11,519
Speaker 3: the road, I mean obviously not the pandemic, but any

1452
01:19:11,560 --> 01:19:15,080
Speaker 3: particular step that you thought, sure, now we've really made

1453
01:19:15,120 --> 01:19:17,679
Speaker 3: it all one that was maybe apart from you know, Britain,

1454
01:19:18,439 --> 01:19:20,519
Speaker 3: like just the hardest thing. I mean, I mean, it's

1455
01:19:20,600 --> 01:19:22,559
Speaker 3: quite a quite an experience you've.

1456
01:19:22,439 --> 01:19:27,560
Speaker 19: Had so on a positive experience when I knew that

1457
01:19:27,720 --> 01:19:32,439
Speaker 19: we had something really amazing. One of the milestones was

1458
01:19:32,479 --> 01:19:34,200
Speaker 19: of course doing the deal with famous brands.

1459
01:19:34,360 --> 01:19:34,559
Speaker 15: Yeah.

1460
01:19:34,680 --> 01:19:37,439
Speaker 20: Another males doll was buying the business back.

1461
01:19:37,320 --> 01:19:41,880
Speaker 19: From famous brands and then opening in the UAE and thinking,

1462
01:19:42,000 --> 01:19:44,080
Speaker 19: oh my god, is this going to work. Like day

1463
01:19:44,240 --> 01:19:46,400
Speaker 19: three we hardly had any customers, and on day four

1464
01:19:46,439 --> 01:19:50,360
Speaker 19: we just got totally slammed. And We've got an unbelievable

1465
01:19:50,400 --> 01:19:55,360
Speaker 19: partner there, Moubarrak Binfahard, and we've opened lots of restaurants

1466
01:19:55,400 --> 01:19:59,800
Speaker 19: with him. So I'm franchise or and franchise, and I think,

1467
01:20:00,760 --> 01:20:04,680
Speaker 19: knowing that we had a product from South Africa a

1468
01:20:04,760 --> 01:20:06,240
Speaker 19: bit bit, I'm gonna get slammed if I say a

1469
01:20:06,240 --> 01:20:09,000
Speaker 19: product like the McDonald's car. Knowing that we had a

1470
01:20:09,200 --> 01:20:15,120
Speaker 19: restaurant or a brand that we could go overseas with

1471
01:20:15,200 --> 01:20:17,600
Speaker 19: and that people would love it as much as they

1472
01:20:17,680 --> 01:20:18,519
Speaker 19: do in South Africa.

1473
01:20:19,000 --> 01:20:20,560
Speaker 20: I mean, that's just it's incredible.

1474
01:20:20,800 --> 01:20:21,000
Speaker 5: Yeah.

1475
01:20:21,960 --> 01:20:24,320
Speaker 20: So, and I don't pat myself on the.

1476
01:20:24,280 --> 01:20:26,600
Speaker 19: Back of I think when I do these interviews, you know,

1477
01:20:26,600 --> 01:20:29,160
Speaker 19: I always look back and think, actually, sure we've done

1478
01:20:29,320 --> 01:20:30,240
Speaker 19: We've done pretty well.

1479
01:20:32,240 --> 01:20:34,320
Speaker 20: But yoh, I would say those are key milestones.

1480
01:20:34,360 --> 01:20:37,240
Speaker 19: And now when this is all over and the war

1481
01:20:37,320 --> 01:20:40,720
Speaker 19: will end and the UAE will thrive again. This will

1482
01:20:40,720 --> 01:20:43,479
Speaker 19: be another one of those things where we say, you know,

1483
01:20:43,560 --> 01:20:44,200
Speaker 19: we got through it.

1484
01:20:44,800 --> 01:20:49,040
Speaker 3: Yeah, it's an amazing story. Natasha, thank you. I really

1485
01:20:49,120 --> 01:20:51,120
Speaker 3: appreciate you taking the time to speak to us and

1486
01:20:51,160 --> 01:20:52,640
Speaker 3: know there's a sort of a lot going on and

1487
01:20:53,160 --> 01:20:55,559
Speaker 3: it can't be easy and you sort of wonder the future.

1488
01:20:55,600 --> 01:20:57,040
Speaker 3: So I just wanted to say thank you so much

1489
01:20:57,080 --> 01:20:57,880
Speaker 3: for coming on tonight.

1490
01:20:58,680 --> 01:21:00,519
Speaker 19: Thank you, And if I could, I want to thank

1491
01:21:00,680 --> 01:21:04,200
Speaker 19: every single person in South Africa for supporting us. Well,

1492
01:21:04,240 --> 01:21:07,400
Speaker 19: those of you that are Aretasha's and La Park and

1493
01:21:07,760 --> 01:21:11,240
Speaker 19: now Cafe Sophie and Alequino and Tasha's home just an

1494
01:21:11,280 --> 01:21:14,280
Speaker 19: incredible support and South Africans came out in the droves

1495
01:21:14,920 --> 01:21:18,000
Speaker 19: to support us when we opened in the UK. And

1496
01:21:18,360 --> 01:21:21,320
Speaker 19: if there's any listeners from the UAE and Saudi again,

1497
01:21:21,400 --> 01:21:23,200
Speaker 19: thank you for the support. With out the customers and

1498
01:21:23,280 --> 01:21:26,880
Speaker 19: our staff. We really are nothing. So today's asai ya

1499
01:21:27,160 --> 01:21:30,719
Speaker 19: as hard as it is. Count myself extremely extremely blessed.

1500
01:21:31,360 --> 01:21:34,760
Speaker 3: Natasha. Thank you. Natasha Sadaris, the founder and CEO of

1501
01:21:34,800 --> 01:21:35,599
Speaker 3: THEA Tasha's Group.

1502
01:21:37,520 --> 01:21:40,000
Speaker 16: The Money Show Stephen Croutez is brought to you by

1503
01:21:40,080 --> 01:21:44,679
Speaker 16: APPSOL Corporate and Investment Banking proud sponsors of GTR Africa

1504
01:21:44,800 --> 01:21:46,800
Speaker 16: twenty twenty six, enabling.

1505
01:21:46,520 --> 01:21:47,719
Speaker 17: Trade flows for growth.

1506
01:21:47,920 --> 01:21:49,560
Speaker 12: Perhaps is the Richester eversp.

1507
01:21:51,400 --> 01:21:56,200
Speaker 3: Well so negative I'm afraid. In the US, obviously, inflation,

1508
01:21:57,240 --> 01:22:00,599
Speaker 3: the inflation data, the producer price inflation is hot, hotter

1509
01:22:00,680 --> 01:22:04,360
Speaker 3: than expected. Also, of course, the situation in Iran. The NASDAK,

1510
01:22:04,840 --> 01:22:07,000
Speaker 3: the Dow Jones, excuse me, down point nine seven, the

1511
01:22:07,040 --> 01:22:09,960
Speaker 3: nasdaqau point sixty six. And let me start again, shall i?

1512
01:22:10,040 --> 01:22:12,439
Speaker 3: The Dow Jones is down point nine to seven, the

1513
01:22:12,520 --> 01:22:14,920
Speaker 3: Nasdaq is down point sixty six. S and P five

1514
01:22:15,000 --> 01:22:18,800
Speaker 3: hundred also down point sixty six. On that downbeat note,

1515
01:22:18,840 --> 01:22:21,080
Speaker 3: after what I thought was quite a tearful show, we'll

1516
01:22:21,120 --> 01:22:23,080
Speaker 3: be back tomorrow. Good evening, it's eight o'clock