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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 is brought to you

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Speaker 3: by ABS of Corporate and Investment Banking, a Pan African

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Speaker 3: bank that's invested in your story because your story, mattter

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Speaker 3: is eight minutes after six. Good evening, Welcome to the

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Speaker 3: Money Show this Friday night. Have you enjoyed depending on

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Speaker 3: when you get paid. If you get paid on the

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Speaker 3: twenty fifth, there's a strong chance because it falls on

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Speaker 3: the Sunday that today was the end of January. Just

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Speaker 3: a reminder, I know it's Friday, I know it's been

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Speaker 3: a long time. Please wait for the debit orders to

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Speaker 3: go off first, wait for all the sms is to

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Speaker 3: be done, which will probably only be Monday and Tuesday

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Speaker 3: by the time that that happens. So just please, if

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Speaker 3: you're finally celebrating the end of January because you got

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Speaker 3: paid today, just remember that the debit order is still

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Speaker 3: to come as you go through.

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Speaker 2: Well.

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Speaker 3: In a moment, we do to speak to the CEO

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Speaker 3: of of the Industrial Development Corporation, Majoreschi Lekete. She's been

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Speaker 3: in Davos this week. This week and then just talk

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Speaker 3: to her about so how difficult it's been to sort

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Speaker 3: of punch through the noise. I'm also interested in some

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Speaker 3: of the trends that we're seeing in development banks where

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Speaker 3: they're putting their money, that kind of thing. Big changes

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Speaker 3: coming up the JS. They're changing some of the listing requirements,

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Speaker 3: basically making it easier to list. We'll speak to Andreas,

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Speaker 3: the director of issuer regulation at the JAC, about those

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Speaker 3: requirements and what's changing. Big news today about Cherry SA,

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Speaker 3: the automotive company. They're buying Nisson's factory at Roslyn. Cherry

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Speaker 3: is a Chinese owned company. It is part of the

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Speaker 3: sort of changes we're seeing. But also how is it

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Speaker 3: that they're going to make money while Nissen can't. We'll

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Speaker 3: speak to We'll speak to Michael Pushatt about that, and

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Speaker 3: then Clomelo Inlouza, the founder of HN Luxury, and how

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Speaker 3: he's made money in the handbag market. That'll be your

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Speaker 3: Friday file in about half an hour from now. Good

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Speaker 3: to hear from you double one double A three oh

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Speaker 3: seven two two one four four six five sixty seven,

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Speaker 3: and of course always good to hear from you on

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Speaker 3: seven two seven oh two one seven O two.

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Speaker 1: The Lanly Show with Stephen Krutis live on ninety two

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Speaker 1: point seven and one O six FM, streaming on the

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Speaker 1: Prime Media Plus NAP and DStv channel eight five six.

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Speaker 3: Well the dust and I presume the snow beginning to

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Speaker 3: finally settle in Davos as the World Economic for a

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Speaker 3: meeting their winds up. There was the explosive speech by

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Speaker 3: the US President Donald Trump, the appeal by the Canadian

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Speaker 3: Prime Minster Markkani for Middle powers to work together. I

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Speaker 3: think for us in a way, the major focus of

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Speaker 3: Davos probably to try and show the world that change,

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Speaker 3: that things are changing for the better here and that's

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Speaker 3: South Africa amidst everything that's going on is probably a

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Speaker 3: pretty good place to invest. Please to tell you now

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Speaker 3: that on the line from Davos, as the CEO of

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Speaker 3: the Industrial Development Corporation, Mahjoschi Leaket Makhoshi, Good evening. I'm

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Speaker 3: glad we've been able to make contact with you this week.

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Speaker 3: With everything that's been going on, ad asked, did you

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Speaker 3: get a chance to make the investment case for South Africa?

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Speaker 4: Good evening, Stephens. Indeed, we had an opportunity to make

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Speaker 4: a case for South Africa as an investment destination, ably

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Speaker 4: led by our minister in a god a very good

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Speaker 4: story he told because as you will know, South Africa

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Speaker 4: just concluded it's chairship of the G twenty, which went well.

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Speaker 4: The credit rating has been upgraded by SMP. We've been

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Speaker 4: removed from the gray list and the blacklist of the EU.

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Speaker 4: So the story is indeed good and we're able to

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Speaker 4: articulate that as Temsa in Davors.

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Speaker 3: We know that sort of global trade is kind of

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Speaker 3: being rewired in a way. Have you seen any obvious

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Speaker 3: opportunities for South Africa? Anyone say anything that's that that

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Speaker 3: you sort of saw and you thought, oh, that's a

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Speaker 3: big opportunity for South Africa. We need to start looking

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Speaker 3: in that.

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Speaker 4: For me, the interesting focus has been on regional economic

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Speaker 4: trade across the African continent. I think people the investors

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Speaker 4: still look at South Africa as a good partner for

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Speaker 4: their investment decisions as they look into the rest of

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Speaker 4: the of the continent. Indeed, the world is changing fast.

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Speaker 4: Regional dynamics are really changing as well. So you know,

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Speaker 4: I see this as an opportunity for us as Africans

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Speaker 4: to ensure that the African continentals we Trade Agreement WAX

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Speaker 4: and that it is based on rules reliability and I

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Speaker 4: believe that through that we should be able to attract

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Speaker 4: the investments not only for South Africa but for the

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Speaker 4: rest of the region.

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Speaker 3: Is there anything in particular that you can see that

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Speaker 3: you think our government needs to do to improve our

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Speaker 3: investment story that would make bring the track more capital here.

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Speaker 4: I think the story has been well articulated in terms

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Speaker 4: of the reforms that.

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Speaker 5: We did in energy.

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Speaker 4: Everyone I mean everyone that I met congratulated South Africa

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Speaker 4: and especially es COM for keeping their lights on. The

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Speaker 4: second point that was made was with the improvements that

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Speaker 4: have been made with logistics and parts. Those two I

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Speaker 4: think had a whole lot of costs to doing business

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Speaker 4: in South Africa amongst others, and there was and there

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Speaker 4: is an appreciation of progress.

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Speaker 3: You would have touched base with people at DEVASA in

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Speaker 3: the same space as you, by which I mean people

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Speaker 3: who run development financial institutions like the IDC. Have you

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Speaker 3: seen any trends where institutions like yours are focusing their

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Speaker 3: lending I mean any particular type of projects, type of

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Speaker 3: project that you can see development banks are focusing.

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Speaker 6: On infrastructure is a big enabler, you know, as the

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Speaker 6: I d C we are focusing on regional belluy chains

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Speaker 6: across the region but also in South Africa and.

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Speaker 4: Do we have recognized which is why we've taken a

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Speaker 4: decision to also amongst others, be counted as those that

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Speaker 4: are investing in infrastructure. And there is a huge focus

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Speaker 4: on AI and digital transformation. But AI requires energy, AI

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Speaker 4: requires capital intensive and it's also data intensive. So infrastructure

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Speaker 4: is one area where we are all coed listening to

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Speaker 4: say how best do we partner to scale up infrastructure

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Speaker 4: financing Mahoshi.

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Speaker 3: There has been reporting this week that US the I

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Speaker 3: d C R and talks of little Metal about some

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Speaker 3: kind of transaction. And I'm sure you're going to tell

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Speaker 3: me you can't say anything about it, which I mean

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Speaker 3: I'll have to accept.

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Speaker 2: I understand that. Let me put it to you like this.

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Speaker 3: Are you expecting some kind of announcement soon one way

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Speaker 3: or another.

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Speaker 4: Absolutely, we will have an announcement soon.

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Speaker 5: I can't say more than this.

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Speaker 3: Okay, you've given me more than I thought I would get,

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Speaker 3: so thank you very much. Indeed, have a safe trip home.

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Speaker 3: Majorche Lekete on the line from Davis just going a

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Speaker 3: QUARTERPAS six.

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Speaker 2: The Money Show Explainer confirmation.

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Speaker 3: This week the Financial Sector Conduct Authority is confirmed or

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Speaker 3: approved new listing requirements for the JC. The JC is

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Speaker 3: currently in the middle of what it would call a

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Speaker 3: simplification project. The idea is to remove some of the

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Speaker 3: requirements which maybe are overly onerous. Andreafaser is the director

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Speaker 3: of issuer Regulation at the JAC. Andre good Evening, So,

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Speaker 3: your main aim has been to simplify everything. There's quite

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Speaker 3: a lot list of changes that you've made. What for

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Speaker 3: you do you think are the biggest changes, the most

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Speaker 3: important things that you've simplified.

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Speaker 7: Evening Stephen, Yeah, I think the main focus of this

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Speaker 7: project was to simplify things, as the project name suggests,

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Speaker 7: and I think what we've done through this initiative is

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Speaker 7: to basically look at every single provision we've got. We've

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Speaker 7: removed complexity as much as we can, We've removed ambiguity,

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Speaker 7: but at the same time made sure that we maintain

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Speaker 7: a proper level of investor protection to appropriate disclosure to

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Speaker 7: investors if you had to ask me. But the main change,

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Speaker 7: I think, certainly, the one that would stand out is

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Speaker 7: the fact that we've expanded our fast tracked listing process,

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Speaker 7: which basically now means that companies from international stock exchanges

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Speaker 7: eighteen international stockage changes will now have much easier access

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Speaker 7: onto the JERZ and that would obviously provide more investor

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Speaker 7: choice and allow a local investor to invest in those

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Speaker 7: companies on the JERZ. That efficient process will go a

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Speaker 7: long way in attracting new listings onto the market.

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Speaker 3: Point and you're doing a whole lot of investigations and

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Speaker 3: all the rest of another regulator's already done it. I

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Speaker 3: suppose you've removed some requirements and you've eased others. What

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Speaker 3: impact do you think that's going to have to trading

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Speaker 3: on the JS I means so, for example, it's probably

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Speaker 3: easier now to do a share buyback than it was.

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Speaker 3: Do you expect that companies are going to take advantage

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Speaker 3: of a little bit more freedom you've given.

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Speaker 7: Them, Steven, We certainly believe that the platform and the

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Speaker 7: framework would be now would be available to the companies

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Speaker 7: to take advantage of that, and certainly issues like capital

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Speaker 7: raising that will be able to do much more efficiently

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Speaker 7: with appropriate threshold in place buybacks, as you've mentioned, I

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Speaker 7: think those issues will certainly lead to cost reductions for

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Speaker 7: companies in terms of compliance. It will certainly lead to

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Speaker 7: much more efficient capital raisings and at the same time

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Speaker 7: providing vestors with proper disclosure and investor protection.

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Speaker 3: I mean, one of the questions whenever someone makes a

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Speaker 3: big change like you've done and remove some requirements, so

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Speaker 3: you immediately ask, well were they important in the first place?

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Speaker 3: And I realized that stock exchanges evolve and the JAC

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Speaker 3: is a big part of that, and this is quite

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Speaker 3: a big evolution in a way. But I mean there's

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Speaker 3: always a question if a regulation was important enough to

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Speaker 3: be brought in, why is it now so unimportant that

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Speaker 3: it can be removed?

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Speaker 7: And I think that's a very good question. I think

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Speaker 7: we've managed through those process to establish the right balance

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Speaker 7: and the reason why that's so important from a Jersey perspective,

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Speaker 7: as we recognize that if we want to attract international

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Speaker 7: companies and international capitals, we need to have a framework

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Speaker 7: where investors can trust that framework. So we've through the

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Speaker 7: consultation process not only engaged with companies, but very importantly

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Speaker 7: also with investors and sponsors. So we think the final

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Speaker 7: product that we've got now strikes the appropriate balance where

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Speaker 7: we would make things easier but still at the same

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Speaker 7: time maintain investor protection.

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Speaker 3: So you want to obviously make sure you're attractive to

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Speaker 3: companies who want to get capital. You have done this before.

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Speaker 7: Now, Stephen, I think if you look at the reforms

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Speaker 7: we've introduced over the last five years, specifically, I think

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Speaker 7: this phase of the changes, being the simplification phase, is

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Speaker 7: part of a broader range of changes that we've made.

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Speaker 7: If you look at market segmentation at introduced in twenty

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Speaker 7: twenty four, you know, trying to make it easier for

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Speaker 7: companies listed on the main Wall, specifically smaller companies that

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Speaker 7: certainly played a significant part in making sure that those

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Speaker 7: companies are able to maintain their listings on the Jersey.

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Speaker 7: And then we obviously we had the cutting red tape

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Speaker 7: initiatives earlier, where we've introduced reforms to allow new types

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Speaker 7: of companies like SPACs dual class shares onto the Jersey.

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Speaker 7: So we think this is not a once sort event.

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Speaker 7: We've made significant changes and this part of the phase

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Speaker 7: is basically to modernize our listing's framework, and it's part

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Speaker 7: of our broader strategic objectives of creating an enabling environment

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Speaker 7: can not only attract new listings onto the market, but

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Speaker 7: also to maintain listings that are currently on the exchange.

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Speaker 3: Do you think there's still major differences between your requirements

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Speaker 3: and the requirements of other exchanges in other countries.

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Speaker 7: No, Stephen, I think we've moved much closer to our

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Speaker 7: international peers over the last couple of decades, and I

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Speaker 7: think this is an important phase in that in that process.

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Speaker 7: You know, when we add additional exchanges onto our list

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Speaker 7: of approved exchanges, we don't just do that by adding

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Speaker 7: a name. We actually do a proper sessment to see

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Speaker 7: what their framework looks like. So we've gathered lots of

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Speaker 7: insights over the last couple of years in terms of

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Speaker 7: international exchanges, and we think we are in many cases

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Speaker 7: ahead of those exchanges in terms of innovation with our

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Speaker 7: listing requirements and in many other respects on the same level.

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Speaker 7: So I think it's putting the Jays he certainly on

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Speaker 7: par with most international exchanges.

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Speaker 3: Andrew, thank you so much, really to appreciate it. The

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Speaker 3: director of Issuer Regulation at the JZ twenty one after six.

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Speaker 2: The money so with Steven on seven oh two seven o.

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Speaker 3: Two confirmation Cherry Essay is buying this insfactory at Roslyn

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Speaker 3: they'll acquire the stamping plant, they do, the land around it,

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Speaker 3: and obviously be in a very good position to manufacture

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Speaker 3: or assemble cars there. Michael Pashot is the paschet rather

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Speaker 3: is the owner of Change Cars, host of the podcast

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Speaker 3: Keep It or Change Cars. Michael Good Evening. I appreciate

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Speaker 3: the time. There's been rumblings of this for quite a while.

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Speaker 3: Is this a big opportunity for Cherry?

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Speaker 8: Absolutely, so Good evening, Stephen Good Evening to the listeners,

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Speaker 8: and of course thank you for the opportunity.

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Speaker 9: Let me tell you there's.

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Speaker 8: Not one single negative around. If not a negative for Messin,

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Speaker 8: not a negative for Cherry, and not a negative for

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Speaker 8: the South African population. That's fantastic news.

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Speaker 2: Okay.

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Speaker 3: I mean Cherry is quite a big company. They have

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Speaker 3: sort of I think it's three or three brands underneath them.

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Speaker 3: But the obvious question is Misson was shutting down production.

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Speaker 3: They want to open production in the same place. Why

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Speaker 3: is Cherry quite optimistic about making money and this and

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Speaker 3: not for sure?

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Speaker 8: It's a very good question. So let's look at this

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Speaker 8: in its standalone form. Since nineteen sixty six, Nissen has

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Speaker 8: been in South Africa, So thank you to them for

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Speaker 8: sixty years. I cure you. I'm not a a thisen

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Speaker 8: PR person, but sixty years it's fantastic. They've built an

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Speaker 8: incredible facility in Roslan and BMW also produce in Roblin. Now,

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Speaker 8: from a Cherry point of view, they don't have to

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Speaker 8: go build a new factory. The factory is already there.

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Speaker 8: You're being new tooling.

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Speaker 9: That is required.

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Speaker 8: Fantastic. That's great for the economy, and they gain too,

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Speaker 8: from what I understand, retain the vast majority of the

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Speaker 8: this in workforce. So, like I said at the top

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Speaker 8: of the show, there's not one single negative. You asked,

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Speaker 8: why do I believe this in will? Thus apologies, why

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Speaker 8: do I believe Cherry will be able to make it

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Speaker 8: work when Thissen didn't. In the last couple of years,

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Speaker 8: Listen has only been producing the very popular Navara there

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Speaker 8: where Cherry are going to be producing from what we understand,

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Speaker 8: three four or five different ranges there. So the need

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Speaker 8: for the tool the needs for the staff will be there,

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Speaker 8: whereasins And unfortunately couldn't justify the investment anymore only producing

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Speaker 8: one vehicle.

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Speaker 3: This is about scale in a way, isn't it. If

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Speaker 3: you're if you're able to come in and produce a

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Speaker 3: lot of different vehicles, Well suddenly it's worth it. If

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Speaker 3: you're just producing one, it's not correct.

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Speaker 2: Correct.

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Speaker 8: So let's look at this on a Cherry point of view.

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Speaker 8: They've been here twenty twenty one and a lot of

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Speaker 8: people and myself included you mentioned, we've got the podcast.

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Speaker 8: I've always wanted to see the Chinese entrant invest in

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Speaker 8: our country like Toyota have, like VW have. Now they're

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Speaker 8: putting their money where their mouth is. Cherry the top

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Speaker 8: ten seller in South Africa. I think they're going to

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Speaker 8: become a top five seller after this.

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Speaker 3: I mean it's always in South Africa. If you look

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Speaker 3: at the cheapest car on the market and the best seller,

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Speaker 3: they're usually the same one. We've seen cheaper cars from

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Speaker 3: India and China disrupting our car market and it seems

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Speaker 3: to me that process isn't finished yet. We buy cars

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Speaker 3: as being disrupted by this. Motus is the latest one

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Speaker 3: to be disrupted by this. But we also see that

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Speaker 3: China's car exports went from just one million in twenty

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Speaker 3: twenty two, I think it's six million this year.

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Speaker 2: Incredible, Yeah, it's amazing.

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Speaker 3: So the question then is can you, even if you're Cherry,

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Speaker 3: produce cars at Roslin for a cheaper price than people

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Speaker 3: can produce them in China, Because if you can't, in

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Speaker 3: the longer term, we're just not going to have a

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Speaker 3: car industry.

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Speaker 8: Well, a very interesting point, So let's look at it

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Speaker 8: from Cherry's point of view. What is the advantage for

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Speaker 8: them importing cars that are coming on ships. That's very

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Speaker 8: logistically challenging. But I do believe they'll be able to

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Speaker 8: produce them in South Africa cheap and again not a

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Speaker 8: fact I'm saying, I do believe. But you mentioned about

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Speaker 8: the country's major players being disrupted by the Chinese imports.

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Speaker 8: You take Motives that you mentioned. They are the only

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Speaker 8: major motor group that failed to embrace the fact that

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Speaker 8: the Chinese were yere to stay and deservedly so, and

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Speaker 8: they are under massive, massive pressure. But I'll say again

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Speaker 8: what you mentioned at the top of the show. This

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Speaker 8: is only one division of the Cherry brand.

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Speaker 9: In South Africa.

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Speaker 8: You also have a Moda Jku and an incredible jatur brand.

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Speaker 8: It's only a matter of time before the subsidiaries will

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Speaker 8: see the same opportunities. And I believe that Roslin plant

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Speaker 8: is going to.

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Speaker 3: Expand it does look like it, so for you, there

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Speaker 3: is still a future for the South African car industry.

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Speaker 8: Oh, no question. The South African ka industry last year

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Speaker 8: did roughly six hundred thousand vehicles and that is an

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Speaker 8: absolute record to the best of my knowledge. But it's very,

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Speaker 8: very buoyant and it's just going to continue to grow.

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Speaker 3: There's no question as a buoyant Michael Pasha, thanks very much. Indeed,

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Speaker 3: owner of Change Cars and host of the Keep It

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Speaker 3: or Change Cars podcast. Twenty six minutes after six No

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Speaker 3: Money Show, Intia's Pullman is portfolio manager at Centtio Capital

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Speaker 3: in Tias. Good evening to you. I don't really know

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Speaker 3: where to start. So often I've started the segment with

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Speaker 3: gold and I feel I kind of need to do

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Speaker 3: it again. We're just what thirty dollars of Yeah, we're

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Speaker 3: twenty seven dollars of five thousand dollars anounce at the moment.

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Speaker 9: Yeah, good evening, Stephen, adding what we're seeing this week

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Speaker 9: is one of the strongest weeks for goals since twenty twenty,

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Speaker 9: and it's been a phenomenal run. Solver has just broken

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Speaker 9: through that one hundred dollars an ounce level, and I

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Speaker 9: think gold will follow suit to that five thousand dollars.

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Speaker 9: And there's been a number of factors that's been driving

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Speaker 9: this phenomena. You know, we've seen very strong buying from

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Speaker 9: central banks of gold as they diversify their reserve assets.

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Speaker 9: And gold has been a momentum trade, so there's been

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Speaker 9: lots of flows into gold back exchange traded funds, And

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Speaker 9: just to put that into perspective, we saw about four

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Speaker 9: billion dollars of flows into goal ets in twenty twenty

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Speaker 9: four and last year that number jumped to eighty nine

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Speaker 9: billion dollars, so phenomenal momentum trade as well as invested

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Speaker 9: concerns around the longer term prospects for the dollar.

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Speaker 2: Platinum up again as well.

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Speaker 3: Volterra had an update today they say their earnings will

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Speaker 3: be up by one hundred percent.

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Speaker 9: Yeah, and again this has been on the back of

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Speaker 9: a very strong platinum palladium in roleum price, which typically

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Speaker 9: is what these platinum companies mind. And if you look

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Speaker 9: at those PGM metals last year until November, from June

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Speaker 9: to November, it was up twenty percent, and since then,

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Speaker 9: from December until today, that's up a further sixty percent,

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Speaker 9: so very strong earnings on the back of a very

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Speaker 9: strong PGM basket price which has folded. True in terms

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Speaker 9: of Voltaire's earnings, you see that they did rely some

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Speaker 9: cost savings as well, which comes through typically with regards

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Speaker 9: to a lower oil price, and some saving is that

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Speaker 9: they've managed to generate. So again I think, you know,

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Speaker 9: if these prices sustained, you should see a further increase

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Speaker 9: in his earnings going forward. For the fully as well.

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Speaker 3: There was a five billion rand savings and operations costs.

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Speaker 3: I mean that's huge, it's massive.

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Speaker 9: I think a lot of that is the lower oil

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Speaker 9: price that they've managed to save, that costs fund that regard,

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Speaker 9: but also they also emerged from Anglo American and there

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Speaker 9: was one soft cost that have come through and those

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Speaker 9: won't RecA going forward. So a very strong operational performance.

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Speaker 3: A true words were down today that that update just

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Speaker 3: after the market closed yesterday. The British operation doing okay.

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Speaker 3: They seem to be battling in South Africa. I'm not

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Speaker 3: entirely surprised when you consider the competition in clothing.

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Speaker 9: Yeah, definitely. You know, if you look at truards, it's

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Speaker 9: very reliant on credit seventy percent of its sales in

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Speaker 9: South Africa are done on credit, and if you break

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Speaker 9: down the sales, credit sales were down more than care sales,

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Speaker 9: which just shows that the consumer is still in a

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Speaker 9: tight spot. We did have the two pots system and

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Speaker 9: those playouts come through in twenty twenty four and both

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Speaker 9: regards to the base that was much higher. So I

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Speaker 9: think a very constrained environment. Consumers certainly looking for value

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Speaker 9: where they can, and we have a lot of strong competitors,

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Speaker 9: and you also have the Chinese players Sheen and Timu,

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Speaker 9: which are also taking market share from the local players.

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Speaker 2: So scidifica is tough.

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Speaker 9: But the UK did perform adder and that has gone

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Speaker 9: quite nicely in through its stable to make up almost

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Speaker 9: half of their profits currently.

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Speaker 3: The sentiment of the market at the moment, I mean,

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Speaker 3: with such strong gold prices that it all looks a

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Speaker 3: little bullish, people sort of talking about our economy kind

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Speaker 3: of pointed in the right direction. I don't know if

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Speaker 3: that's coming through to other shares yet.

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Speaker 9: Though it's come through in terms of the banking shares.

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Speaker 9: We did see a of a rally that started towards

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Speaker 9: the end of last year in the essay. Bank companies.

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Speaker 9: The retailers, as we've just spoken about, have been a

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Speaker 9: bit challenge, but I think the market is always forward

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Speaker 9: looking and we do have several factors pointing in the

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Speaker 9: right direction. One is lower inflation, and then on the

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Speaker 9: back of that, we have lower interest states, and I

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Speaker 9: think we could expect interstates to be cut further this year,

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Speaker 9: which would be another impetus for consumer spending. And then

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Speaker 9: thirdly you've had the rand which has been very strong,

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Speaker 9: so that does bode well for margins of these closing

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Speaker 9: retailers in discretionary retailers, which will allow them to find

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Speaker 9: cost savings, although that revenue line might be challenged and

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Speaker 9: valuations are not stretched starving that is certainly there's some

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Speaker 9: tailwinds that have come through for the South African economy

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Speaker 9: which should folter down through the rest of the market

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Speaker 9: outside of the resource sector.

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Speaker 3: In Tel Slimon, thanks very much, indeed, really appreciated portfolio

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Speaker 3: Portfolio Capital at Sentio Capital.

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Speaker 2: Just after six thirty.

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Speaker 1: Stephen is on the Money Show six to eight pm.

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Speaker 3: Twenty two minutes to a seventh time. Well, the kind

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Speaker 3: of business problem that doesn't happen to everybody, and yet

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Speaker 3: is very very difficult to fix occurring. It seems in Iran.

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Speaker 3: For MTN they own mt and Iran cell they own

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Speaker 3: forty nine percent of that. There is a direct shareholder,

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Speaker 3: a majority shareholder that owns fifty one percent. That is

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Speaker 3: sort of as is often the way in Iran, kind

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Speaker 3: of through a company that is sort of controlled by

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Speaker 3: the military, sort of the way to describe it. Now,

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Speaker 3: as the it seems that the CEO of that company,

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00:23:46,440 --> 00:23:50,639
Speaker 3: of the cel phoned company, Alereza Rafaye, has been removed

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Speaker 3: from his post without the forty nine percent shareholder even

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Speaker 3: being told. So EMPTN didn't know. What's fascinating is the

439
00:23:58,040 --> 00:24:01,879
Speaker 3: reason why he was removed. He was removed because the

440
00:24:01,920 --> 00:24:04,760
Speaker 3: military told him to basically switch off his cell phone

441
00:24:04,800 --> 00:24:08,800
Speaker 3: network to stop communications in Iran as the protests started.

442
00:24:08,840 --> 00:24:11,639
Speaker 3: The protests there, we know from what we understand claimed

443
00:24:11,640 --> 00:24:14,959
Speaker 3: I think at least two thousand lives, as some suggestions

444
00:24:14,960 --> 00:24:17,560
Speaker 3: it could be as many as five thousand. And you

445
00:24:17,600 --> 00:24:19,840
Speaker 3: know of course that the security forces there will have

446
00:24:20,040 --> 00:24:22,840
Speaker 3: used violence against these protesters as well.

447
00:24:23,280 --> 00:24:25,960
Speaker 2: It seems that Provide took two hours.

448
00:24:25,560 --> 00:24:27,879
Speaker 3: To switch off the phone network and as a result

449
00:24:27,880 --> 00:24:30,879
Speaker 3: of that, he was removed without the forty nine percent

450
00:24:30,920 --> 00:24:33,639
Speaker 3: shareholder being removed. The other problem, of course for MTN

451
00:24:33,760 --> 00:24:37,600
Speaker 3: is communication with Iran right now is incredibly difficult. But

452
00:24:37,760 --> 00:24:39,879
Speaker 3: just a reminder of how difficult it is to do

453
00:24:40,000 --> 00:24:43,000
Speaker 3: business in some parts of the world. Something similar happened.

454
00:24:43,040 --> 00:24:45,040
Speaker 3: The CEO wasn't removed, but there was a little bit

455
00:24:45,040 --> 00:24:48,520
Speaker 3: of a discussion about it during protests in Eswatinia about

456
00:24:48,560 --> 00:24:51,080
Speaker 3: three or four years ago. I think was MTN as well,

457
00:24:51,480 --> 00:24:54,359
Speaker 3: who as part of their license condition, had to comply

458
00:24:54,440 --> 00:24:57,560
Speaker 3: with an instruction to switch off their data transmissions, to

459
00:24:57,560 --> 00:25:00,639
Speaker 3: basically switch off your sofpone data through the network. If

460
00:25:00,640 --> 00:25:03,240
Speaker 3: you're in Satiny and this does happen, I imagine there

461
00:25:03,280 --> 00:25:06,680
Speaker 3: are similar license conditions in South Africa. If, for example,

462
00:25:06,720 --> 00:25:08,920
Speaker 3: government wants to know and there's an a legitimate court

463
00:25:09,040 --> 00:25:11,879
Speaker 3: order who made a phone quarter who when well, they

464
00:25:11,920 --> 00:25:14,720
Speaker 3: would have to give up that information. It's a very

465
00:25:14,760 --> 00:25:18,720
Speaker 3: complex thing for cell phone networks to manage. I would say, though,

466
00:25:19,160 --> 00:25:23,040
Speaker 3: on balance, while you might be quite frustrated with the

467
00:25:23,040 --> 00:25:25,760
Speaker 3: sel phone network that complies with a government instruction like that,

468
00:25:26,359 --> 00:25:30,320
Speaker 3: cell phone networks generally lead to more knowledge flowing and

469
00:25:30,359 --> 00:25:34,919
Speaker 3: therefore more democratization. If I can use that phrase, and

470
00:25:35,000 --> 00:25:37,480
Speaker 3: we shouldn't forget how important there might be in that

471
00:25:37,920 --> 00:25:41,359
Speaker 3: your views. Oh seven two seven oh two, twenty minutes

472
00:25:41,400 --> 00:25:42,040
Speaker 3: and out to seven.

473
00:25:42,600 --> 00:25:46,479
Speaker 1: The Lonely Show with Stephen Krudis live on ninety two

474
00:25:46,560 --> 00:25:49,639
Speaker 1: point seven and one O six FM, streaming on the

475
00:25:49,680 --> 00:25:53,560
Speaker 1: Prime Media Plus NAP and DStv channel eight five six.

476
00:25:53,840 --> 00:25:56,760
Speaker 3: On the Next Money Show, we're joined by Amanda Kromhote,

477
00:25:56,840 --> 00:25:59,880
Speaker 3: the CEO and founder of Truth, a leading customers sent

478
00:26:00,680 --> 00:26:03,959
Speaker 3: and loyalty consultancy. She'll share her journey with you on

479
00:26:04,000 --> 00:26:06,520
Speaker 3: how I make my money. In our business book feature,

480
00:26:06,560 --> 00:26:10,199
Speaker 3: we speak to Matthew Parks, Becausarto's parliamentary leader about the

481
00:26:10,320 --> 00:26:13,360
Speaker 3: latest book he's been reading and why I grabbed his attention.

482
00:26:13,520 --> 00:26:16,440
Speaker 3: And of course we'll bring you expert analysis of the

483
00:26:16,520 --> 00:26:18,800
Speaker 3: day's biggest business stories.

484
00:26:19,280 --> 00:26:21,480
Speaker 7: For the Many Show The Friday.

485
00:26:21,080 --> 00:26:24,760
Speaker 3: File File sixteen minutes to seven. So what is it

486
00:26:24,800 --> 00:26:27,359
Speaker 3: when you're looking for a handbag? What is it that

487
00:26:27,440 --> 00:26:29,680
Speaker 3: you look for in a handbag? And I don't mean

488
00:26:29,720 --> 00:26:32,159
Speaker 3: your purse, I mean what is it that you're looking

489
00:26:32,240 --> 00:26:34,800
Speaker 3: for when you're choosing a handbag. I think you want

490
00:26:34,880 --> 00:26:38,440
Speaker 3: something that looks pretty good. I think you might want

491
00:26:38,480 --> 00:26:43,120
Speaker 3: something that is practical, something perhaps that maybe makes a statement.

492
00:26:43,119 --> 00:26:46,119
Speaker 3: They're those things you go to those events where you

493
00:26:46,160 --> 00:26:49,320
Speaker 3: do need to make a statement. I hadn't thought that

494
00:26:49,400 --> 00:26:52,960
Speaker 3: what people might look for is a handbag that does

495
00:26:53,000 --> 00:26:58,639
Speaker 3: all of those things and is actually also bulletproof. Turns

496
00:26:58,680 --> 00:27:03,800
Speaker 3: out such a thing exists. It's made by h N Luxury,

497
00:27:04,119 --> 00:27:07,520
Speaker 3: and the founder of h in luxtually is a Romelo

498
00:27:07,840 --> 00:27:10,520
Speaker 3: loser Forromelo. Good evening, Thanks so much for taking the

499
00:27:10,560 --> 00:27:13,560
Speaker 3: time to talk to us tonight, greeting.

500
00:27:13,280 --> 00:27:16,840
Speaker 5: To use thisten and to all the servin or two listeners,

501
00:27:16,920 --> 00:27:21,159
Speaker 5: also the Human Application members and believers, and thanks for

502
00:27:21,200 --> 00:27:21,720
Speaker 5: having me.

503
00:27:24,480 --> 00:27:27,679
Speaker 3: I can see Friday is going nicely. There's so many

504
00:27:27,720 --> 00:27:32,040
Speaker 3: different sort of handbags on the market, Romelo. They're made

505
00:27:32,040 --> 00:27:37,120
Speaker 3: by lots of different people. You've made yours a bit different.

506
00:27:37,200 --> 00:27:39,639
Speaker 3: They send a different kind of statement. They have a

507
00:27:39,680 --> 00:27:42,480
Speaker 3: different I want to say, look, but I think maybe

508
00:27:42,600 --> 00:27:45,200
Speaker 3: feels at a better word, a different I mean, certainly

509
00:27:45,200 --> 00:27:49,160
Speaker 3: a different vibe. Where do you get the inspiration from?

510
00:27:49,160 --> 00:27:51,120
Speaker 3: How have you made yours stand out?

511
00:27:52,400 --> 00:27:55,320
Speaker 5: Thank you so much for that question. So growing up

512
00:27:55,560 --> 00:27:59,560
Speaker 5: I realized my purpose on earth, which is to empower

513
00:27:59,640 --> 00:28:04,000
Speaker 5: other Peo people through my imagination. So last year or

514
00:28:04,040 --> 00:28:08,480
Speaker 5: three years that I think I've got a beautiful idea

515
00:28:08,640 --> 00:28:12,760
Speaker 5: of a bag that makes the hand disappear into the

516
00:28:12,800 --> 00:28:15,720
Speaker 5: bag when the child. And after I got that, I

517
00:28:15,760 --> 00:28:18,480
Speaker 5: don't take my dreams lightly. I made sure that I

518
00:28:18,480 --> 00:28:23,520
Speaker 5: partner up with a lot of artisans to make sure

519
00:28:23,560 --> 00:28:26,800
Speaker 5: that I make all of the ideas that I get

520
00:28:26,880 --> 00:28:30,040
Speaker 5: from my dreams to the dreams that I have when

521
00:28:30,040 --> 00:28:33,440
Speaker 5: my eyes are wide open, So all of those ideas

522
00:28:33,440 --> 00:28:36,160
Speaker 5: will come. Most of them they come around three o'clock

523
00:28:36,160 --> 00:28:38,520
Speaker 5: when I'm sleeping and I have to wake up and

524
00:28:38,560 --> 00:28:40,880
Speaker 5: make sure that I draft and make sure everything suspects.

525
00:28:41,480 --> 00:28:46,240
Speaker 5: But most of it it's inspired by my purpose and

526
00:28:46,480 --> 00:28:51,720
Speaker 5: inspired by also my tribe, which is cross the tribe I.

527
00:28:51,600 --> 00:28:54,480
Speaker 3: Was going to say, I mean, Kelly, your heritage is

528
00:28:54,520 --> 00:28:57,320
Speaker 3: a big part of what you're producing now and maybe

529
00:28:57,360 --> 00:28:58,480
Speaker 3: the sort of defining part.

530
00:28:59,760 --> 00:29:03,920
Speaker 5: Yeah, yeah, definitely, because the monogram of the luxury bags

531
00:29:04,480 --> 00:29:07,640
Speaker 5: is inspired by the Crosser truck, as I did mention,

532
00:29:07,760 --> 00:29:09,400
Speaker 5: and I got that from a dream as well.

533
00:29:09,840 --> 00:29:14,920
Speaker 3: So yeah, do you think that your bags are conveying something?

534
00:29:15,000 --> 00:29:19,360
Speaker 3: There's a sense of self that other people identify with

535
00:29:19,440 --> 00:29:22,040
Speaker 3: the may they then want that message. They want to

536
00:29:22,120 --> 00:29:24,440
Speaker 3: send that message themselves through your bags.

537
00:29:26,280 --> 00:29:30,000
Speaker 5: So yeah, one of the reasons why I like doing

538
00:29:30,000 --> 00:29:32,360
Speaker 5: things differently is because I want the people that who

539
00:29:32,440 --> 00:29:37,200
Speaker 5: consume them to stand out. Yeah, most of all, because

540
00:29:37,440 --> 00:29:41,400
Speaker 5: everything that I do, I make sure that it's unique

541
00:29:41,560 --> 00:29:44,200
Speaker 5: in such a way that even if maybe someone carries

542
00:29:44,520 --> 00:29:47,520
Speaker 5: a bag from overseas, they will feel that I thought

543
00:29:47,520 --> 00:29:51,040
Speaker 5: this was wet it, but that's what it's great. So

544
00:29:51,840 --> 00:29:53,520
Speaker 5: I want them to stand out, and I want them

545
00:29:53,560 --> 00:29:57,760
Speaker 5: to know that Africans can create beautiful things, especially with

546
00:29:57,800 --> 00:30:02,520
Speaker 5: the fact that our the main manufacturer that you're working

547
00:30:02,520 --> 00:30:07,560
Speaker 5: with is an African French trained craftsman. So that's one

548
00:30:07,600 --> 00:30:09,400
Speaker 5: of the reasons why the pads are so beautiful. By

549
00:30:09,400 --> 00:30:12,960
Speaker 5: the way, I had to go through twenty artisans over

550
00:30:13,080 --> 00:30:16,200
Speaker 5: a year to find the perfect line. So yeah, I

551
00:30:16,280 --> 00:30:17,960
Speaker 5: just want them to stand out, and I just want

552
00:30:18,000 --> 00:30:22,200
Speaker 5: them to enjoy being different and also their successes by

553
00:30:22,240 --> 00:30:23,680
Speaker 5: purchasing agents.

554
00:30:23,960 --> 00:30:26,760
Speaker 3: No, sure, Promelo, I've got to ask about the idea

555
00:30:26,840 --> 00:30:29,800
Speaker 3: of a bulletproof handbag. I'd never heard of such a thing.

556
00:30:30,320 --> 00:30:32,200
Speaker 3: I see, I don't think you might not be the

557
00:30:32,200 --> 00:30:34,880
Speaker 3: only person who makes it, but I mean, what is

558
00:30:34,920 --> 00:30:38,000
Speaker 3: the sort of attraction. Is it to protect you, know,

559
00:30:38,080 --> 00:30:40,440
Speaker 3: your phone in the event of an emergency or was

560
00:30:40,440 --> 00:30:41,200
Speaker 3: it to protect you?

561
00:30:42,640 --> 00:30:45,960
Speaker 5: So what happened last year is that I was just

562
00:30:46,240 --> 00:30:51,440
Speaker 5: relaxing in my space and Soto around I think four am,

563
00:30:51,480 --> 00:30:55,920
Speaker 5: because I to literally wake up around three am and

564
00:30:55,920 --> 00:30:58,040
Speaker 5: write down I didn't all of that. And then as

565
00:30:58,040 --> 00:31:01,280
Speaker 5: I was about to sleep, someone trying to break into

566
00:31:01,360 --> 00:31:05,160
Speaker 5: my room. They broke the butler and after prisoning the packer,

567
00:31:05,240 --> 00:31:08,880
Speaker 5: they tried to kick the door open, but I was

568
00:31:08,960 --> 00:31:12,080
Speaker 5: saved by this other friend of mine that I stayed

569
00:31:12,120 --> 00:31:14,760
Speaker 5: it at that time with James because he kept from

570
00:31:14,760 --> 00:31:18,120
Speaker 5: pushing the door. And someone tried shooting, only to find

571
00:31:18,120 --> 00:31:22,880
Speaker 5: out that it was a blunt gun. Thank god shooting administrate.

572
00:31:23,560 --> 00:31:25,840
Speaker 5: And then I was like, since I don't have a gun,

573
00:31:26,560 --> 00:31:30,120
Speaker 5: I felt so bad that I didn't have anything to

574
00:31:30,200 --> 00:31:33,920
Speaker 5: protect myself with. Since I decided to create a Laxady

575
00:31:33,960 --> 00:31:37,680
Speaker 5: that that is bullet proof and was gifted by a

576
00:31:37,760 --> 00:31:42,200
Speaker 5: shot at by a South African champion shooter and the

577
00:31:42,240 --> 00:31:44,920
Speaker 5: bullet didn't go through three times.

578
00:31:45,400 --> 00:31:48,800
Speaker 2: It was short that you needed a champion shooter. It's

579
00:31:48,840 --> 00:31:49,520
Speaker 2: not a big jog.

580
00:31:54,320 --> 00:31:57,360
Speaker 5: But we do have a version of the bags now

581
00:31:57,400 --> 00:32:00,600
Speaker 5: that is bigger, like as big as a backpack, so

582
00:32:00,680 --> 00:32:03,680
Speaker 5: one can cover the head and the hot area.

583
00:32:05,440 --> 00:32:08,000
Speaker 3: Are they popular? I mean, they're not cheap from Melow,

584
00:32:08,040 --> 00:32:09,800
Speaker 3: I'm afraid to say. I mean, I know very little

585
00:32:09,840 --> 00:32:11,960
Speaker 3: about handbag, so maybe they are and I'm just I'm

586
00:32:12,000 --> 00:32:14,040
Speaker 3: just living in the dark ages. But I mean, do

587
00:32:14,080 --> 00:32:17,920
Speaker 3: you do are people particularly interested in the bulletproof handbag?

588
00:32:19,200 --> 00:32:23,160
Speaker 5: So something very bad happened last year and I only

589
00:32:23,200 --> 00:32:28,160
Speaker 5: realized it around September. So when I released that particular bag,

590
00:32:28,600 --> 00:32:31,240
Speaker 5: I'm close to nine thousand people wanted to purchase a

591
00:32:31,280 --> 00:32:34,080
Speaker 5: by clipped on the by now button, but not a

592
00:32:34,160 --> 00:32:37,400
Speaker 5: single sale went through because with the people that I

593
00:32:37,520 --> 00:32:41,840
Speaker 5: have outsourced to create the website, there was a little

594
00:32:42,520 --> 00:32:47,040
Speaker 5: coma era that blocked all of those selves from going through.

595
00:32:47,360 --> 00:32:51,080
Speaker 5: So I ended up losing my breakthrough millions, if I may.

596
00:32:51,880 --> 00:32:55,640
Speaker 5: But now in the process of trying to get more

597
00:32:55,680 --> 00:32:59,480
Speaker 5: investors and trying to introduce the bags into the American

598
00:32:59,760 --> 00:33:03,400
Speaker 5: and the global market, because there's currently a company that

599
00:33:03,600 --> 00:33:06,320
Speaker 5: is going to release the bags in one hundred and

600
00:33:06,360 --> 00:33:09,120
Speaker 5: fifty countries. So they were popular, I could have been

601
00:33:09,160 --> 00:33:12,120
Speaker 5: a millionaire by now, But there was a tiny coma

602
00:33:12,160 --> 00:33:15,840
Speaker 5: era in the website coding that blocked people from purchasing

603
00:33:15,880 --> 00:33:16,360
Speaker 5: the bags.

604
00:33:16,760 --> 00:33:21,320
Speaker 3: So, yeah, does the bulletproofing I mean, you know America

605
00:33:21,360 --> 00:33:23,720
Speaker 3: is mad about guns. I'm sure they'll do well. Is

606
00:33:24,840 --> 00:33:28,040
Speaker 3: the bag that's bulletproof? Is it much heavier than another bag?

607
00:33:29,480 --> 00:33:34,200
Speaker 5: It's it's very light, to surprise, because we're using not steel,

608
00:33:34,560 --> 00:33:39,120
Speaker 5: but we inserted kevlar inside the bag, which is very

609
00:33:39,720 --> 00:33:44,600
Speaker 5: very light material that is made out of different types

610
00:33:44,680 --> 00:33:48,360
Speaker 5: of fabrics that are astecked into one piece. So when

611
00:33:48,400 --> 00:33:52,160
Speaker 5: you hold it very lightly to surprise and bullets don't

612
00:33:52,200 --> 00:33:53,880
Speaker 5: go through literail.

613
00:33:53,840 --> 00:33:57,080
Speaker 3: Does it change the way the bag feels. I mean

614
00:33:57,120 --> 00:33:59,360
Speaker 3: it must do, because you've got kevlar inside it. It

615
00:33:59,440 --> 00:34:02,880
Speaker 3: must feel the from two every other handbag I've felt before.

616
00:34:05,920 --> 00:34:08,640
Speaker 5: To be quite honest, you don't really feel that it's

617
00:34:08,719 --> 00:34:11,120
Speaker 5: like a bag that have got this, say, especially with

618
00:34:11,160 --> 00:34:13,359
Speaker 5: the one that is a backpack and that's the same

619
00:34:13,440 --> 00:34:16,600
Speaker 5: for nine thousand. It's like it's like it's like a

620
00:34:16,600 --> 00:34:17,560
Speaker 5: bag with a laptop.

621
00:34:18,200 --> 00:34:20,919
Speaker 2: Yeah, yeah, no, no, sure, yeah.

622
00:34:20,560 --> 00:34:23,680
Speaker 5: It's not that it's not. And what that can do

623
00:34:23,840 --> 00:34:27,120
Speaker 5: is it's amazing, especially now that sometimes there can be

624
00:34:27,239 --> 00:34:29,520
Speaker 5: a lot of bad things aten in in South Africa.

625
00:34:30,640 --> 00:34:35,600
Speaker 3: No, of course, I've noticed in the handbag industry recently

626
00:34:36,640 --> 00:34:40,520
Speaker 3: that there's quite a big resale market. So someone will

627
00:34:40,560 --> 00:34:43,960
Speaker 3: buy one, they will use it for a while, use

628
00:34:44,000 --> 00:34:47,359
Speaker 3: it at a few events, make their statements, sell it

629
00:34:47,440 --> 00:34:51,000
Speaker 3: on and then use the money to buy another one.

630
00:34:52,080 --> 00:34:53,880
Speaker 2: Is that happening with your bags? Do you know?

631
00:34:56,160 --> 00:34:56,239
Speaker 9: So?

632
00:34:56,360 --> 00:34:56,520
Speaker 7: Yeah?

633
00:34:56,600 --> 00:35:00,200
Speaker 5: First I did mention that we on our way to

634
00:35:00,239 --> 00:35:03,520
Speaker 5: recoup everything that you've lost. I'm sure it's going to

635
00:35:03,520 --> 00:35:06,160
Speaker 5: happen because the brand HN in the past three month

636
00:35:06,520 --> 00:35:09,520
Speaker 5: has grown by one hundred percent. So if someone really

637
00:35:09,560 --> 00:35:12,680
Speaker 5: wants an investment, please especially with the bag, because the

638
00:35:12,719 --> 00:35:14,759
Speaker 5: premium bag, I'm not sure if you saw it has

639
00:35:14,800 --> 00:35:19,600
Speaker 5: got rails fine art that is presented in a glory

640
00:35:19,680 --> 00:35:23,200
Speaker 5: type of banana. So obviously with fine art by South

641
00:35:23,200 --> 00:35:29,440
Speaker 5: African fine artists, the value of art appreciates. So obviously

642
00:35:29,880 --> 00:35:32,040
Speaker 5: a bag that you can buy now, let's say for

643
00:35:32,320 --> 00:35:35,200
Speaker 5: nine thousand or ten thousand, maybe in the next two

644
00:35:35,239 --> 00:35:38,160
Speaker 5: years it's going to be worth around thirty and maybe

645
00:35:38,200 --> 00:35:41,120
Speaker 5: in the next ten years around more. Because obviously as

646
00:35:41,160 --> 00:35:45,839
Speaker 5: a brand is going and obviously the brand value as

647
00:35:45,840 --> 00:35:46,799
Speaker 5: well grows.

648
00:35:47,120 --> 00:35:51,320
Speaker 3: So yeah, and the and the market for luxury bags

649
00:35:51,360 --> 00:35:53,399
Speaker 3: in South Africa remind my sense of it is that

650
00:35:53,719 --> 00:35:56,360
Speaker 3: that Aligan must be quite a big, quite a big market.

651
00:35:57,040 --> 00:35:58,520
Speaker 3: How big do you think it could be? I mean,

652
00:35:58,760 --> 00:36:00,560
Speaker 3: and I would think that that people who are going

653
00:36:00,560 --> 00:36:03,960
Speaker 3: to spend money on a handbag, they're going to look at,

654
00:36:04,239 --> 00:36:07,120
Speaker 3: you know, designs from Europe and look at designs from here.

655
00:36:07,160 --> 00:36:09,239
Speaker 3: You will stand out. There must be quite a big

656
00:36:09,280 --> 00:36:14,600
Speaker 3: market for designs that are obviously South African in your case,

657
00:36:14,640 --> 00:36:16,400
Speaker 3: obviously cause a handbag.

658
00:36:17,840 --> 00:36:21,200
Speaker 5: South Africa is booming, especially with the fact that the

659
00:36:21,280 --> 00:36:24,520
Speaker 5: Cross the tribe, for instance, has been featured on the

660
00:36:24,640 --> 00:36:28,440
Speaker 5: language has been featured on Black Panther, and like with

661
00:36:28,640 --> 00:36:31,400
Speaker 5: social media, a lot of people are starting to crevitate

662
00:36:31,560 --> 00:36:34,840
Speaker 5: towards Africa. It's big because when I remember when I

663
00:36:34,880 --> 00:36:37,680
Speaker 5: released the bag in March, we were featured in a

664
00:36:37,719 --> 00:36:43,720
Speaker 5: lot of international media interviews from Australia, Mexico, London, Middle

665
00:36:43,800 --> 00:36:47,160
Speaker 5: East and New York, New York as well. I was

666
00:36:47,200 --> 00:36:50,200
Speaker 5: also invited to be a part of the Hampton Special

667
00:36:50,200 --> 00:36:55,120
Speaker 5: week So and even Miami Miami Magazine was like Meet

668
00:36:55,680 --> 00:37:00,680
Speaker 5: the heating was Meet the New Place of Globe one Luxury.

669
00:37:00,920 --> 00:37:03,640
Speaker 5: So it's a big, huge market, and people are tired

670
00:37:03,680 --> 00:37:07,240
Speaker 5: of seeing the same old monograms and the same old

671
00:37:08,600 --> 00:37:11,600
Speaker 5: designer bags, and especially with the fact that they don't

672
00:37:11,600 --> 00:37:14,640
Speaker 5: put much effort when it comes to their design. So

673
00:37:15,080 --> 00:37:19,239
Speaker 5: I think one is one of these newspapers that were

674
00:37:19,719 --> 00:37:23,640
Speaker 5: covered in from overseas. H h end cimlins A luxury

675
00:37:23,680 --> 00:37:27,799
Speaker 5: bags could be the African answer to him, is they

676
00:37:27,800 --> 00:37:29,799
Speaker 5: actually huge market billions? No?

677
00:37:29,920 --> 00:37:32,600
Speaker 3: Absolutely, Clomello, thanks so much. I really enjoyed talking to you.

678
00:37:32,719 --> 00:37:35,760
Speaker 3: Learned a lot from that. Clomelonia Loser is the founder

679
00:37:35,800 --> 00:37:40,680
Speaker 3: of h N Luxury talking about handbags on The Money Show,

680
00:37:40,680 --> 00:37:43,840
Speaker 3: the bulletproof handbag. And you don't have one yet, Okay,

681
00:37:43,960 --> 00:37:47,160
Speaker 3: maybe you will in the future. Five minutes now, seven o'clock.

682
00:37:48,719 --> 00:37:53,240
Speaker 1: Taking calls on one, one, eight, three seven notes.

683
00:37:53,320 --> 00:37:56,600
Speaker 3: Is time for the Friday bis billets on The Money Show.

684
00:37:56,640 --> 00:37:58,520
Speaker 2: You know how it works. We ask a question.

685
00:37:58,600 --> 00:38:00,319
Speaker 3: If you get it right, we move on to the

686
00:38:00,320 --> 00:38:02,319
Speaker 3: next question. If you get it wrong, we move on

687
00:38:02,360 --> 00:38:05,200
Speaker 3: to the next caller. First question tonight on O double

688
00:38:05,200 --> 00:38:07,239
Speaker 3: one double A three oh seven oh two and two

689
00:38:07,360 --> 00:38:09,280
Speaker 3: one four, four, six, five, six seven.

690
00:38:09,680 --> 00:38:11,000
Speaker 2: Which car maker.

691
00:38:11,160 --> 00:38:16,200
Speaker 3: Is set to take over Nissan's Roslin manufacturing plant. Listen

692
00:38:16,280 --> 00:38:19,480
Speaker 3: is selling it? Who are they selling it to? Which

693
00:38:19,520 --> 00:38:23,480
Speaker 3: car maker is taking over Nissan's plant at Roslin Oh

694
00:38:23,520 --> 00:38:25,360
Speaker 3: double one, double A three oh seven, oh two O

695
00:38:25,520 --> 00:38:28,560
Speaker 3: two to one four four six, five six seven. The

696
00:38:28,640 --> 00:38:30,680
Speaker 3: Money Show with Stephen Curtis is brought to you by

697
00:38:30,680 --> 00:38:34,320
Speaker 3: Absent Corporate and Investment Banking upan African bank that's invested

698
00:38:34,400 --> 00:38:36,920
Speaker 3: in your story because your story matters.

699
00:38:38,320 --> 00:38:41,279
Speaker 1: No Money Show Friday Bus list.

700
00:38:41,160 --> 00:38:43,840
Speaker 3: Which car maker is set to take over Nissan's factory

701
00:38:43,840 --> 00:38:49,160
Speaker 3: at Roslin. Let's start with Adele in Santan Adele high h.

702
00:38:50,040 --> 00:38:54,240
Speaker 2: The answer is cherry Adele, of course it's cheery. Yes, okay,

703
00:38:54,320 --> 00:38:55,480
Speaker 2: second question here we go.

704
00:38:55,880 --> 00:38:59,279
Speaker 3: NED Bank has announced plans to expand its footprint in

705
00:38:59,360 --> 00:39:04,320
Speaker 3: East Africa. It's buying a controlling stake in which regional

706
00:39:04,680 --> 00:39:11,040
Speaker 3: banking group. Which bank are they buying in East Africa?

707
00:39:11,120 --> 00:39:13,719
Speaker 2: Adul Well, I don't know that one.

708
00:39:13,840 --> 00:39:18,320
Speaker 3: Sorry, sorry, Adele, Thank you for trying. Cindy in Santon, who.

709
00:39:18,160 --> 00:39:19,759
Speaker 9: Is bank in India?

710
00:39:19,920 --> 00:39:22,520
Speaker 2: I think I say it again? Say that again.

711
00:39:23,360 --> 00:39:24,360
Speaker 7: It's in India?

712
00:39:25,160 --> 00:39:26,840
Speaker 3: No, no, no, Then I need the name of the

713
00:39:26,920 --> 00:39:29,279
Speaker 3: company that they're buying in the companies. The bank is

714
00:39:29,320 --> 00:39:30,200
Speaker 3: in East Africa.

715
00:39:31,719 --> 00:39:35,160
Speaker 4: No, I don't know, Sorry, Cindy.

716
00:39:35,360 --> 00:39:39,799
Speaker 3: Let's try Everton in mid Rand. Everton ned bank they're

717
00:39:39,800 --> 00:39:42,680
Speaker 3: buying a controlling steak and which regional banking group?

718
00:39:43,400 --> 00:39:44,600
Speaker 7: Can your interview.

719
00:39:46,440 --> 00:39:48,040
Speaker 2: Everton? Yes it is.

720
00:39:49,440 --> 00:39:49,720
Speaker 4: Okay.

721
00:39:50,800 --> 00:39:54,719
Speaker 3: Next question, which South African retailer is facing a backlash

722
00:39:54,719 --> 00:39:58,680
Speaker 3: from shareholders because they're buying a retailer in Europe. We

723
00:39:58,760 --> 00:40:01,839
Speaker 3: had a big focus on this list week. Which South

724
00:40:01,880 --> 00:40:06,160
Speaker 3: African shopping chain retailer they sell clothes is facing a

725
00:40:06,160 --> 00:40:09,760
Speaker 3: big backlash because they are buying one in Europe?

726
00:40:10,480 --> 00:40:11,840
Speaker 5: They are buying on eup.

727
00:40:12,680 --> 00:40:14,480
Speaker 9: Oh no, I think I go ahead?

728
00:40:17,840 --> 00:40:22,479
Speaker 3: Okay, Sorry Everton, thank you. You're gonna kick yourself because

729
00:40:22,480 --> 00:40:24,839
Speaker 3: there's been lots of talk about this. Oh double one

730
00:40:24,840 --> 00:40:27,120
Speaker 3: double A three oh seven O two two one four

731
00:40:27,200 --> 00:40:30,440
Speaker 3: four six five six seven. Which South African retailer has

732
00:40:30,480 --> 00:40:33,480
Speaker 3: been facing a backlash on the proposed acquisition of a

733
00:40:33,560 --> 00:40:34,880
Speaker 3: European retailer.

734
00:40:34,880 --> 00:40:37,400
Speaker 2: We are hitting into news time. Am I giving the answer?

735
00:40:37,440 --> 00:40:40,520
Speaker 2: I'm gonna force you to google it? Hmm, Shall I

736
00:40:40,560 --> 00:40:43,600
Speaker 2: give you the answer? Waiting for signals here?

737
00:40:45,360 --> 00:40:48,000
Speaker 3: It's mister price, you're the money show at seven o'clock