1 00:00:01,360 --> 00:00:05,640 Speaker 1: And now The Money Show with Stephen credits on seven 2 00:00:05,680 --> 00:00:08,520 Speaker 1: oh two, let's walk at all. The Money Show with 3 00:00:08,560 --> 00:00:11,560 Speaker 1: Stephen Crotis has brought to you by Abscess cib is, 4 00:00:11,560 --> 00:00:15,120 Speaker 1: a registered FSP seven minutes after six Friday edition of 5 00:00:15,160 --> 00:00:18,320 Speaker 1: The Money Show. In so many ways, it doesn't really 6 00:00:18,360 --> 00:00:20,400 Speaker 1: feel like a Friday if you've been in Santon today, 7 00:00:20,520 --> 00:00:23,480 Speaker 1: possibly still stuck there simply because of the G twenty 8 00:00:23,600 --> 00:00:26,640 Speaker 1: And I realized that I am lucky enough to get 9 00:00:26,640 --> 00:00:29,240 Speaker 1: to report on it and in some small way sort 10 00:00:29,240 --> 00:00:31,000 Speaker 1: of be a part of it. But I think there 11 00:00:31,040 --> 00:00:33,360 Speaker 1: is a real sense of anticipation. There are so many 12 00:00:33,440 --> 00:00:36,000 Speaker 1: people that you will have seen and heard in so 13 00:00:36,120 --> 00:00:39,320 Speaker 1: many other forums around the world and seen them going 14 00:00:39,320 --> 00:00:41,360 Speaker 1: into this place or that place. Think of someone like 15 00:00:41,600 --> 00:00:44,479 Speaker 1: Narendra Mardy easily one of the most one of the 16 00:00:44,520 --> 00:00:47,320 Speaker 1: most powerful people in the world, someone who has a 17 00:00:47,400 --> 00:00:50,680 Speaker 1: huge influence on world affairs, and he landed today not 18 00:00:50,800 --> 00:00:53,599 Speaker 1: the article of air Force base. Think of Emmanuel macrass, 19 00:00:53,640 --> 00:00:56,600 Speaker 1: someone you kind of think of, I don't know, in 20 00:00:56,720 --> 00:00:59,560 Speaker 1: association I suppose with the Eiffel Tower or some symbol 21 00:00:59,640 --> 00:01:03,280 Speaker 1: of France. And here he is. And it's not just them. 22 00:01:03,760 --> 00:01:07,840 Speaker 1: There's so many others. The Brazilian President Lula de Shilva 23 00:01:08,000 --> 00:01:11,120 Speaker 1: also here, and in so many ways, I think just 24 00:01:11,160 --> 00:01:13,960 Speaker 1: the fact that they're here. Antonio Gudoratia has been speaking. 25 00:01:14,280 --> 00:01:16,840 Speaker 1: Rgil of Fondro Aleyan has been speaking as well. In 26 00:01:16,880 --> 00:01:18,600 Speaker 1: so many ways that kind of just gives you a 27 00:01:18,640 --> 00:01:21,520 Speaker 1: sense that you know things are going on and they 28 00:01:21,560 --> 00:01:24,679 Speaker 1: really are quite important. Now. I don't know what's going 29 00:01:24,720 --> 00:01:26,840 Speaker 1: to happen over the next couple of days. There are 30 00:01:26,920 --> 00:01:30,280 Speaker 1: some reporting, I think, well informed reporting by people I 31 00:01:30,319 --> 00:01:33,039 Speaker 1: know and trust, suggesting that actually there will be some 32 00:01:33,160 --> 00:01:36,440 Speaker 1: kind of sort of leader's declaration. I don't know what 33 00:01:36,480 --> 00:01:38,680 Speaker 1: the language will be. We won't know for some time. 34 00:01:39,520 --> 00:01:42,319 Speaker 1: Do get a sensor that things are moving and if 35 00:01:42,319 --> 00:01:45,319 Speaker 1: you look at the language President Sera Ramapausa has used 36 00:01:45,800 --> 00:01:48,200 Speaker 1: to the Trump administration sort of in response to them, 37 00:01:48,240 --> 00:01:51,600 Speaker 1: well things are going on anyway, Very interested to hear 38 00:01:51,640 --> 00:01:53,840 Speaker 1: your view on it. You may think that the G 39 00:01:53,960 --> 00:01:56,720 Speaker 1: twenty is the best thing since well I don't know, 40 00:01:57,640 --> 00:02:01,240 Speaker 1: the spring box all sigh spread. You may think that 41 00:02:01,400 --> 00:02:03,920 Speaker 1: they are something that You may think the G twenty 42 00:02:04,360 --> 00:02:06,160 Speaker 1: is actually going to lead to real change. You may 43 00:02:06,200 --> 00:02:09,160 Speaker 1: think that the G twenty is just a party for 44 00:02:09,520 --> 00:02:11,800 Speaker 1: you know, a small group of sort of the global 45 00:02:11,800 --> 00:02:14,480 Speaker 1: elite to come here. We spend money on it and 46 00:02:14,560 --> 00:02:17,440 Speaker 1: we get nothing from it. Very happy to hear your 47 00:02:17,480 --> 00:02:20,000 Speaker 1: views one way or another. Voice notes of course on 48 00:02:20,200 --> 00:02:23,519 Speaker 1: seven two seven oh two one seven, O two and two, 49 00:02:23,600 --> 00:02:25,920 Speaker 1: and then you can call us on a double one double 50 00:02:25,919 --> 00:02:28,240 Speaker 1: A three oh seven O two and O two one four, four, six, 51 00:02:28,680 --> 00:02:32,040 Speaker 1: five six seven. Don't forget, by the way that Friday 52 00:02:32,080 --> 00:02:35,320 Speaker 1: bis Blitz tonight, questions one or two about the G twenty, 53 00:02:35,639 --> 00:02:38,720 Speaker 1: also about companies that are likely to list soon, and 54 00:02:38,800 --> 00:02:41,240 Speaker 1: one or two other questions coming up in a moment. 55 00:02:41,280 --> 00:02:43,519 Speaker 1: You'll hear from staff Ross neck Aloud. He's been involved 56 00:02:43,560 --> 00:02:45,080 Speaker 1: in the B twenty. We'll ask him how a we're 57 00:02:45,080 --> 00:02:48,200 Speaker 1: looking ahead of the G twenty. We'll also speak to 58 00:02:48,400 --> 00:02:52,119 Speaker 1: doctor Zwanella and Swanty, he's a senior researcher, been looking 59 00:02:52,160 --> 00:02:55,519 Speaker 1: at the G twenty. Also Dale mckindy about what's going 60 00:02:55,520 --> 00:02:57,800 Speaker 1: to happen over the next couple of days. And then 61 00:02:57,840 --> 00:03:01,600 Speaker 1: in Friday File tonight we'll speak to Hotel Lauto, the 62 00:03:01,600 --> 00:03:05,120 Speaker 1: founder of Niche performs I think I've pronounced that correctly, 63 00:03:05,639 --> 00:03:08,600 Speaker 1: talking about how it is that you create a cent. 64 00:03:09,200 --> 00:03:13,680 Speaker 1: That's a cent with a c Thelney Show with Stephen 65 00:03:13,760 --> 00:03:17,239 Speaker 1: Kruders live on ninety two point seven and one O 66 00:03:17,400 --> 00:03:20,440 Speaker 1: six FM streaming on the Prime Media plus NAP. 67 00:03:20,480 --> 00:03:23,000 Speaker 2: And DStv channel eight five six. 68 00:03:23,120 --> 00:03:26,239 Speaker 1: Well, the President Sara romopauls a spending the day setting 69 00:03:26,240 --> 00:03:29,480 Speaker 1: the stage for the G twenty. Some high profile events 70 00:03:29,480 --> 00:03:32,520 Speaker 1: with European leaders. Atonio Gorto rej has just been speaking 71 00:03:32,960 --> 00:03:35,880 Speaker 1: the Indian Prime Minsner Andrew Mardius here. Lula de Schilva 72 00:03:35,920 --> 00:03:39,520 Speaker 1: from Brazil is here. Of course, the US still not 73 00:03:39,680 --> 00:03:42,960 Speaker 1: sending anyone, even though it is the biggest economy in 74 00:03:43,000 --> 00:03:45,720 Speaker 1: the world, and in some ways the big event that 75 00:03:45,800 --> 00:03:48,320 Speaker 1: sort of set the stage for the G twenty this 76 00:03:48,440 --> 00:03:52,160 Speaker 1: weekend was the B twenty, which ended yesterday. Stavros Nicolau 77 00:03:52,640 --> 00:03:56,000 Speaker 1: is a senior executive at the Aspen groupi's board member 78 00:03:56,040 --> 00:03:58,920 Speaker 1: of Bussy's been involved in some of these conversations as 79 00:03:58,920 --> 00:04:00,840 Speaker 1: well leading up to the g T twenty this weekend 80 00:04:01,000 --> 00:04:02,839 Speaker 1: at staff FROs. Good evening and thanks for the time 81 00:04:02,880 --> 00:04:05,520 Speaker 1: for your time. You played quite a big role in 82 00:04:05,560 --> 00:04:09,760 Speaker 1: that interface between government and business over the last few years. 83 00:04:10,080 --> 00:04:12,080 Speaker 1: How do you think South Africa is looking right now. 84 00:04:12,080 --> 00:04:15,560 Speaker 1: We've had the B twenty and the G twenty starts tomorrow. 85 00:04:17,120 --> 00:04:20,360 Speaker 3: Stephen firsty, good evening to you and all the listeners. 86 00:04:20,480 --> 00:04:23,240 Speaker 3: It's a great pleasure to be on and I think 87 00:04:23,279 --> 00:04:29,440 Speaker 3: we should just take a moment to reflect on the 88 00:04:29,600 --> 00:04:33,760 Speaker 3: and see the moment. It's a monumentous moment in a sense, 89 00:04:33,800 --> 00:04:38,400 Speaker 3: the first ever G twenty to be hosted on African soil. 90 00:04:39,120 --> 00:04:41,919 Speaker 3: And what did we as a business community hope to 91 00:04:41,960 --> 00:04:44,679 Speaker 3: achieve what we are objectives at a very high level. 92 00:04:45,600 --> 00:04:50,560 Speaker 3: Two things. The first was that we execute seamlessly on 93 00:04:50,920 --> 00:04:54,359 Speaker 3: the B twenty event. It was a two day event 94 00:04:54,400 --> 00:04:58,600 Speaker 3: with a number of side events today and by all accounts, 95 00:04:59,000 --> 00:05:03,360 Speaker 3: the feedback we've had from the multitude of international business 96 00:05:03,360 --> 00:05:08,080 Speaker 3: people that traveled here from all countries, including the United States. Incidentally, 97 00:05:08,640 --> 00:05:12,240 Speaker 3: the CEO of the United States Chamber of Commerce to 98 00:05:12,360 --> 00:05:16,159 Speaker 3: whom the South African b TWEENC Presidency handed over the 99 00:05:16,240 --> 00:05:23,240 Speaker 3: baton yesterday. We're here and the report backs are. Number one, 100 00:05:23,839 --> 00:05:27,120 Speaker 3: you've put Africa on the map. We went as well 101 00:05:27,160 --> 00:05:31,520 Speaker 3: acquainted with Africa. And the second thing is we see 102 00:05:31,640 --> 00:05:36,560 Speaker 3: immense potential and opportunity and that would hopefully lead itself 103 00:05:36,640 --> 00:05:40,320 Speaker 3: to investment in our country, particularly FDI. Now, that was 104 00:05:40,360 --> 00:05:45,640 Speaker 3: objective one seamlessly execute and I think, just at a 105 00:05:45,720 --> 00:05:49,320 Speaker 3: personal sort of personally reflecting, I think everything was very 106 00:05:49,360 --> 00:05:51,039 Speaker 3: slick over the last three days. 107 00:05:51,279 --> 00:05:51,440 Speaker 2: Now. 108 00:05:51,480 --> 00:05:58,000 Speaker 3: The second objective was to position our country to particularly 109 00:05:58,040 --> 00:06:02,280 Speaker 3: to the international investor community, to use this as a 110 00:06:02,279 --> 00:06:05,760 Speaker 3: platform to boost confidence off the back of some of 111 00:06:05,800 --> 00:06:09,320 Speaker 3: the recent good news we've had, the standard and poor upgrade, 112 00:06:10,240 --> 00:06:14,200 Speaker 3: our removal from the Fatties gray list, the fact that 113 00:06:14,960 --> 00:06:17,440 Speaker 3: we've had very few days of load shedding. We seem 114 00:06:17,480 --> 00:06:19,520 Speaker 3: to be getting on top of the energy mix and 115 00:06:19,720 --> 00:06:23,720 Speaker 3: energy security. So these were this was a good time 116 00:06:23,800 --> 00:06:27,000 Speaker 3: actually to host the B twenty event, and as I said, 117 00:06:27,160 --> 00:06:30,920 Speaker 3: front and center was to possession the country favorably and 118 00:06:30,960 --> 00:06:33,800 Speaker 3: positively to the investor community. So that's kind of. 119 00:06:33,720 --> 00:06:34,640 Speaker 4: What we look for. 120 00:06:35,080 --> 00:06:37,720 Speaker 3: Of course, time will tell how successful we've been, but 121 00:06:38,080 --> 00:06:42,640 Speaker 3: certainly the early feedback and reflections are immensely positive. 122 00:06:43,960 --> 00:06:47,680 Speaker 1: You also were looking at issues around noncommunicable diseases in Africa, 123 00:06:47,760 --> 00:06:50,039 Speaker 1: So I think diabetes, which is a big problem in 124 00:06:50,080 --> 00:06:53,240 Speaker 1: our society, are heart disease, There's so many others. The 125 00:06:53,279 --> 00:06:55,120 Speaker 1: conversations at B twenty, I mean, do you think that 126 00:06:55,160 --> 00:06:56,880 Speaker 1: you've been able to make progress. 127 00:06:56,440 --> 00:07:02,000 Speaker 3: On those, so House says, you know, since COVID, health 128 00:07:02,000 --> 00:07:06,840 Speaker 3: has become a fundamental conversation that takes place at the 129 00:07:07,320 --> 00:07:10,680 Speaker 3: B twenties. This is my fourth B twenty. 130 00:07:10,880 --> 00:07:11,960 Speaker 2: Some of the earlier. 131 00:07:11,840 --> 00:07:16,520 Speaker 3: Editions were held remotely because of COVID, and certainly the 132 00:07:16,640 --> 00:07:20,720 Speaker 3: health agenda gains has gained significant prominence over the last 133 00:07:20,800 --> 00:07:24,920 Speaker 3: four years. I think the business community and governments around 134 00:07:24,920 --> 00:07:33,280 Speaker 3: the world, particularly finance ministries, trade and industry ministries, have 135 00:07:33,440 --> 00:07:38,480 Speaker 3: realized that economic growth and healthcare are in some way 136 00:07:38,600 --> 00:07:45,320 Speaker 3: intertwined and non communicable diseases. These are diseases that are 137 00:07:45,320 --> 00:07:49,680 Speaker 3: acquired through non infectious routes. So you've got infectious diseases 138 00:07:49,720 --> 00:07:53,040 Speaker 3: like HIV, AIDS and TB, and then you've got non 139 00:07:53,120 --> 00:07:58,360 Speaker 3: infectious diseases like the ones you cited, Chidiac disease. Diabetes 140 00:07:58,520 --> 00:08:01,400 Speaker 3: is the problem, it almost Minister Stephen of the Lot 141 00:08:01,800 --> 00:08:04,320 Speaker 3: and then of course you've got cancer and others. And 142 00:08:04,840 --> 00:08:07,840 Speaker 3: we are seeing a rising tide of the non communicable 143 00:08:07,880 --> 00:08:13,280 Speaker 3: diseases in Africa. Africa, this will overtake the infectious disease 144 00:08:13,360 --> 00:08:17,280 Speaker 3: pandemics that we've experienced unless we turn the tide. So 145 00:08:18,160 --> 00:08:22,320 Speaker 3: the discussions were very much about sensitizing governments, the business 146 00:08:22,320 --> 00:08:28,320 Speaker 3: communities to the economic impact of noncommunicable diseases and these 147 00:08:28,360 --> 00:08:31,120 Speaker 3: effect We had a number of subject make that experts 148 00:08:31,160 --> 00:08:35,360 Speaker 3: speaking on the effects of this on productivity, the competitiveness 149 00:08:35,400 --> 00:08:39,840 Speaker 3: of the country, how the strains budgets, and of course 150 00:08:40,000 --> 00:08:44,040 Speaker 3: how does it affect economic trajectorism. So a really really 151 00:08:44,080 --> 00:08:47,439 Speaker 3: important conversation and some really good suggestions on how we 152 00:08:47,440 --> 00:08:48,560 Speaker 3: move forward on this topic. 153 00:08:48,760 --> 00:08:52,240 Speaker 1: So Ross Nikolin, thanks very much, indeed, obviously being one 154 00:08:52,240 --> 00:08:54,760 Speaker 1: of the people at the B twenty, a buss aboard 155 00:08:54,800 --> 00:08:57,160 Speaker 1: man Brand also a senior executive at the Aspen Group. 156 00:08:57,240 --> 00:09:01,000 Speaker 1: Sixteen minutes after six, well, let's look now to Nazrek. 157 00:09:01,240 --> 00:09:04,360 Speaker 1: Let's look now to the G twenty. Doctor Zonella in 158 00:09:04,440 --> 00:09:08,120 Speaker 1: twenty is a senior researcher for the G twenty at 159 00:09:08,120 --> 00:09:11,000 Speaker 1: the Institute of Economic Justice. It was another good evening 160 00:09:11,000 --> 00:09:12,920 Speaker 1: and thanks for your time. I mean, as I talk 161 00:09:13,000 --> 00:09:14,920 Speaker 1: to you now and you see all of these people 162 00:09:15,080 --> 00:09:18,480 Speaker 1: arrive and everybody's kind of here, and for a moment, 163 00:09:18,520 --> 00:09:21,080 Speaker 1: Joe Burg is sort of at the center of things. 164 00:09:21,640 --> 00:09:25,360 Speaker 1: It's all quite exciting in the cold light of day 165 00:09:25,480 --> 00:09:29,000 Speaker 1: tomorrow morning or maybe Monday morning, is there much scope 166 00:09:29,000 --> 00:09:31,640 Speaker 1: for any kind of agreement to come from the nineteen 167 00:09:31,679 --> 00:09:33,360 Speaker 1: countries that will be in the room at Nazreck. 168 00:09:35,280 --> 00:09:37,880 Speaker 5: Goodning and thank you for having me and grouting to 169 00:09:38,160 --> 00:09:42,720 Speaker 5: the listeners. I think it's quite an exciting time, and 170 00:09:42,880 --> 00:09:45,319 Speaker 5: people have been quite engaged with the G twenty in 171 00:09:45,440 --> 00:09:48,760 Speaker 5: barassuels throughout the year, because the whole year of the 172 00:09:48,800 --> 00:09:52,080 Speaker 5: G twenty would take from the first of December until 173 00:09:52,160 --> 00:09:54,920 Speaker 5: the thirt year of November for each country that host, 174 00:09:56,120 --> 00:09:58,920 Speaker 5: and everyone looks forward to the leader family to where 175 00:09:59,120 --> 00:10:03,199 Speaker 5: the of the biggest countries in the world that constitute 176 00:10:03,200 --> 00:10:06,160 Speaker 5: about eighty five percent of the global activity and over 177 00:10:06,200 --> 00:10:09,880 Speaker 5: sixty percent of the world's population gather to talk about 178 00:10:10,000 --> 00:10:15,360 Speaker 5: the most present challenges globally the of the economy. So 179 00:10:15,800 --> 00:10:17,840 Speaker 5: at the end of it and all of these things 180 00:10:17,840 --> 00:10:21,360 Speaker 5: that we've done, come Manday, people of course look forward 181 00:10:21,400 --> 00:10:24,520 Speaker 5: to what the leaders would have agreed to in the 182 00:10:24,559 --> 00:10:29,120 Speaker 5: form of a declaration, so they will basically elevate the 183 00:10:29,240 --> 00:10:34,400 Speaker 5: issues globally that think affecting the economies. But that declaration, 184 00:10:34,480 --> 00:10:37,439 Speaker 5: of course is thus in concerts us amongst these countries 185 00:10:37,840 --> 00:10:42,000 Speaker 5: and amongst the leaders, but a lot happens below that 186 00:10:42,160 --> 00:10:47,280 Speaker 5: agreement in the form of. 187 00:10:47,160 --> 00:10:49,880 Speaker 1: I'm sorry, I'm sorry to interrupt you. What I need 188 00:10:49,920 --> 00:10:52,520 Speaker 1: to ask is do you think there will be in agreement? 189 00:10:52,559 --> 00:10:55,120 Speaker 1: I mean, if you look at some countries, so for example, 190 00:10:55,800 --> 00:10:59,640 Speaker 1: we as South Africans believe on I believe in inclusion. 191 00:11:00,640 --> 00:11:03,280 Speaker 1: I think India might might back there. I think China 192 00:11:03,360 --> 00:11:07,240 Speaker 1: might back that. I don't think Argentina necessarily will back that. 193 00:11:07,679 --> 00:11:09,200 Speaker 1: How difficult do you think it will be to get 194 00:11:09,200 --> 00:11:09,880 Speaker 1: to some agreement. 195 00:11:11,840 --> 00:11:15,719 Speaker 5: I think agreement has been quite difficult in the Tree 196 00:11:15,800 --> 00:11:20,079 Speaker 5: twenty at this year in particular, but it's not really 197 00:11:20,480 --> 00:11:23,680 Speaker 5: the first year that you find the difficulty in the 198 00:11:23,720 --> 00:11:26,480 Speaker 5: agreement in the Tree twenty. So for an example, I 199 00:11:26,480 --> 00:11:29,400 Speaker 5: can make this year there were some agreements in the 200 00:11:29,440 --> 00:11:32,360 Speaker 5: form of minister or declarations. Those are still as victories. 201 00:11:33,200 --> 00:11:35,800 Speaker 5: So we affiliate to see what will come out of 202 00:11:35,920 --> 00:11:39,360 Speaker 5: the weekend because the negotiations and the discussions have been 203 00:11:39,400 --> 00:11:44,000 Speaker 5: going well. But some of the areas that for instance, 204 00:11:44,000 --> 00:11:47,320 Speaker 5: the ministers could not agree on, I think for instance, 205 00:11:47,400 --> 00:11:55,760 Speaker 5: energy transitions, health technology but they agreed on and women 206 00:11:55,800 --> 00:11:58,000 Speaker 5: empowerment and gender those are two that didn't agree on, 207 00:11:58,080 --> 00:12:00,600 Speaker 5: but they agreed on culture. They they are greed on 208 00:12:00,640 --> 00:12:04,280 Speaker 5: food security, they are agreed on tourism, they are greed 209 00:12:04,320 --> 00:12:08,720 Speaker 5: on finance and death uh being global challenges, they are 210 00:12:08,720 --> 00:12:14,319 Speaker 5: greed on critical minerals. So by the time the leaders conversations, 211 00:12:14,400 --> 00:12:17,839 Speaker 5: you have this momentum of the conversations that have been 212 00:12:17,840 --> 00:12:21,000 Speaker 5: happening at a ministerial level. So I would say that 213 00:12:21,040 --> 00:12:24,920 Speaker 5: I'm quite positive that consensus has been built despite the 214 00:12:24,960 --> 00:12:29,440 Speaker 5: difficulties for insuance. You're mentioning Argentina, the US. There has 215 00:12:29,480 --> 00:12:33,960 Speaker 5: been an increase in colarization amongst this group of twenty countries. 216 00:12:34,320 --> 00:12:39,000 Speaker 5: But all of these countries one thing, uh, which is 217 00:12:39,400 --> 00:12:43,319 Speaker 5: also the importance of keeping the Forum as the premier 218 00:12:43,360 --> 00:12:47,959 Speaker 5: forum for economic uh uh uh uh integration as well 219 00:12:48,000 --> 00:12:51,200 Speaker 5: as a setting an agenda for the global financial architecture. 220 00:12:51,440 --> 00:12:54,360 Speaker 5: So they all really believe in the forum, and at 221 00:12:54,360 --> 00:12:58,680 Speaker 5: the leaders level. Not to have consensus and come up 222 00:12:58,720 --> 00:13:01,719 Speaker 5: with an agreement, I don't think it would be in 223 00:13:01,760 --> 00:13:05,600 Speaker 5: any of their interests because they truly believe in the 224 00:13:05,679 --> 00:13:08,760 Speaker 5: importance of the Forum. 225 00:13:08,840 --> 00:13:12,720 Speaker 1: I mean it's interesting because if you look at energy transformation, 226 00:13:12,840 --> 00:13:15,599 Speaker 1: for example, I mean, Saudi Arabia is a member of 227 00:13:15,640 --> 00:13:17,679 Speaker 1: the G twenty and it's never going to agree to that. 228 00:13:17,760 --> 00:13:18,720 Speaker 1: I mean, it just won't. 229 00:13:20,480 --> 00:13:23,280 Speaker 5: It's not that. So it's not that for in Pence, 230 00:13:23,320 --> 00:13:27,280 Speaker 5: Audi Arabia wouldn't necessarily agreed on image of utoric because 231 00:13:27,320 --> 00:13:31,120 Speaker 5: they are large hydro carbon Protestant country and they've got 232 00:13:31,160 --> 00:13:33,760 Speaker 5: a lot of fossil fuels. So the conversations around energy 233 00:13:33,800 --> 00:13:38,880 Speaker 5: transitions are always contentious, but our countries agree on the 234 00:13:38,960 --> 00:13:44,439 Speaker 5: idea to to to lower emission UH, to decrease to 235 00:13:44,679 --> 00:13:47,360 Speaker 5: deal with that with the climate challenges for influence. Audi 236 00:13:47,400 --> 00:13:50,920 Speaker 5: Arabia is part of the Parent Terrorist Agreement. There have 237 00:13:51,080 --> 00:13:54,040 Speaker 5: been party to the conversations on climate change. There are 238 00:13:54,120 --> 00:13:57,960 Speaker 5: party to the UN Convention on on Your Ands at 239 00:13:58,080 --> 00:14:01,800 Speaker 5: Triple Free. So it's not that they wouldn't agree to 240 00:14:01,920 --> 00:14:07,120 Speaker 5: sort of taking set by steps in sort of lowering 241 00:14:07,200 --> 00:14:12,559 Speaker 5: emissions and therefore which means phrasing out in our river way. 242 00:14:12,640 --> 00:14:16,800 Speaker 5: Countries determine this UH to move into more renewable, into 243 00:14:16,840 --> 00:14:20,440 Speaker 5: more cleaners asailable cleaner energies. It's in the best interes 244 00:14:20,480 --> 00:14:23,440 Speaker 5: of all the countries, given that the challenges were confronted 245 00:14:23,480 --> 00:14:25,800 Speaker 5: with in terms of climate change and the disasters that 246 00:14:25,880 --> 00:14:29,280 Speaker 5: we see but it depends and it differs from countries 247 00:14:29,280 --> 00:14:31,440 Speaker 5: to country, and that's what the G twenty sort of 248 00:14:31,560 --> 00:14:35,320 Speaker 5: build that consensus among the countries to say, what does 249 00:14:35,360 --> 00:14:38,200 Speaker 5: this country needs? For instance. The bigger conversation is also 250 00:14:38,240 --> 00:14:41,920 Speaker 5: around financing, you know, like, for instance, in the case 251 00:14:41,960 --> 00:14:46,120 Speaker 5: of South Africa, where we are coal dependent and most 252 00:14:46,160 --> 00:14:49,920 Speaker 5: of our energies is generated from cold, how do you 253 00:14:49,960 --> 00:14:53,920 Speaker 5: transition from that, which means you need investment and financing 254 00:14:54,040 --> 00:14:57,320 Speaker 5: to transition into a modern uroble energy. That's what many 255 00:14:57,400 --> 00:15:00,240 Speaker 5: other countries are also confronted with. But it's not that. Look, 256 00:15:00,280 --> 00:15:02,000 Speaker 5: I'm not willing to have that conversation. 257 00:15:02,400 --> 00:15:05,040 Speaker 1: Dr Zanella and Swanti, thanks very much. Indeed, a senior 258 00:15:05,080 --> 00:15:07,360 Speaker 1: researcher on the G twoent T at the Institute for 259 00:15:07,520 --> 00:15:11,760 Speaker 1: Economic Justice, Doctor Dale mckindley's an independent political economist at Dale. 260 00:15:11,760 --> 00:15:15,320 Speaker 1: Good evening to you. One of the problems with the summit, now, 261 00:15:15,360 --> 00:15:18,120 Speaker 1: I don't see this as sort of our fault, is 262 00:15:18,160 --> 00:15:20,800 Speaker 1: that it's going to be completely overshadowed by the person 263 00:15:20,840 --> 00:15:21,520 Speaker 1: who's not here. 264 00:15:24,600 --> 00:15:27,880 Speaker 6: Good afternoon, Stephen into the listeners. Yeah, now listen, I 265 00:15:27,880 --> 00:15:30,160 Speaker 6: mean Trump always has to take center stage, doesn't he? 266 00:15:31,120 --> 00:15:33,720 Speaker 6: One way or the other. But in some ways it's 267 00:15:34,040 --> 00:15:38,160 Speaker 6: there's a double edged sword here, his his. You know, 268 00:15:38,200 --> 00:15:41,280 Speaker 6: the boycott obviously is not a great thing, because the 269 00:15:41,360 --> 00:15:44,240 Speaker 6: United States is an important economy and politically powerful. 270 00:15:44,600 --> 00:15:46,160 Speaker 1: But on the other hand, it opens space. 271 00:15:46,520 --> 00:15:50,000 Speaker 6: It opens space for US in South Africa to set 272 00:15:50,040 --> 00:15:52,800 Speaker 6: a better agenda. It also opens space for other countries 273 00:15:52,880 --> 00:15:55,960 Speaker 6: like China and others to take a bit more of 274 00:15:55,600 --> 00:15:58,360 Speaker 6: a sort of say, a central role. And I think 275 00:15:58,360 --> 00:16:01,120 Speaker 6: it offers an opportunity for other countries who do not 276 00:16:01,320 --> 00:16:03,240 Speaker 6: like Trump, and who do not like the United States 277 00:16:03,240 --> 00:16:06,320 Speaker 6: and do not like his bullying and his attitude, to 278 00:16:06,400 --> 00:16:09,360 Speaker 6: basically agree amongst themselves that there are things that they 279 00:16:09,360 --> 00:16:11,160 Speaker 6: can do that don't need the United States. 280 00:16:11,440 --> 00:16:14,920 Speaker 1: I mean, Ronald Lamoler alminuster of International Relations and Cooperation 281 00:16:15,000 --> 00:16:17,320 Speaker 1: pretty much said that on Tuesday morning. I thought that 282 00:16:17,440 --> 00:16:19,840 Speaker 1: was quite an interesting comment. Do you think there's a 283 00:16:19,920 --> 00:16:22,200 Speaker 1: chance of that happening? And I sort of wonder if 284 00:16:22,240 --> 00:16:25,960 Speaker 1: maybe Argentina came as simply to sort of stop that. 285 00:16:26,040 --> 00:16:29,040 Speaker 1: And I say that because just in my view, now 286 00:16:29,680 --> 00:16:31,760 Speaker 1: we know the United States has been helping out the 287 00:16:31,880 --> 00:16:36,240 Speaker 1: Argentinian government financially, and one presumes that there is you know, 288 00:16:36,440 --> 00:16:39,160 Speaker 1: some cost to that absolutely. 289 00:16:39,240 --> 00:16:43,400 Speaker 6: I mean Malay was bailed out by Trump, Let's be honest. 290 00:16:43,440 --> 00:16:45,520 Speaker 6: I mean if it hadn't been for Trump, he would 291 00:16:45,560 --> 00:16:48,000 Speaker 6: be in serious economic trouble. So I think he owes 292 00:16:48,040 --> 00:16:50,520 Speaker 6: Trump big time and he's coming to pay that debt. 293 00:16:50,560 --> 00:16:54,240 Speaker 6: But besides that, I think our government in this case 294 00:16:54,440 --> 00:16:57,520 Speaker 6: has played their cards fairly well. You know, this is 295 00:16:57,560 --> 00:16:59,640 Speaker 6: not about and I think the expectations of the G 296 00:16:59,680 --> 00:17:02,520 Speaker 6: twenty are a little bit misplaced. It's not about whether 297 00:17:02,600 --> 00:17:05,439 Speaker 6: or not there's a massive declaration which everybody agrees to, 298 00:17:05,560 --> 00:17:08,320 Speaker 6: because in some ways it's a vacuous declaration. There's no 299 00:17:08,359 --> 00:17:11,199 Speaker 6: binding nature to what the G twenty decides. It's what 300 00:17:11,320 --> 00:17:13,679 Speaker 6: goes on behind the scenes. It's the cutting of the deals, 301 00:17:13,680 --> 00:17:17,120 Speaker 6: the bilaterals, and it's setting an agenda. And I think 302 00:17:17,160 --> 00:17:19,959 Speaker 6: South Africa's way of setting this agenda and putting some 303 00:17:20,000 --> 00:17:22,720 Speaker 6: of the key issues that reflect most of the majority 304 00:17:22,760 --> 00:17:25,120 Speaker 6: of the countries in the world who are left out 305 00:17:25,119 --> 00:17:28,880 Speaker 6: of these conversations is something that is very positive because 306 00:17:29,160 --> 00:17:31,040 Speaker 6: that's what people are going to take up, whether that's 307 00:17:31,080 --> 00:17:34,160 Speaker 6: intellectuals and research, whether that's other governments and other things. 308 00:17:34,200 --> 00:17:36,639 Speaker 6: In the next couple of years and Let's not forget 309 00:17:36,640 --> 00:17:40,000 Speaker 6: there's other countries here at play. France and very powerful 310 00:17:40,040 --> 00:17:43,879 Speaker 6: other countries like China and EU countries that are that 311 00:17:43,960 --> 00:17:46,320 Speaker 6: don't agree with what Trump is doing, that don't think 312 00:17:46,359 --> 00:17:49,080 Speaker 6: that this sort of bullying tactics are going to work, 313 00:17:49,280 --> 00:17:52,240 Speaker 6: and that actually do buy into the cooperation and collaboration 314 00:17:52,320 --> 00:17:53,720 Speaker 6: approach that South Africa's pushed. 315 00:17:54,600 --> 00:17:57,560 Speaker 1: China is surely in the most interesting position right now, 316 00:17:58,480 --> 00:18:01,359 Speaker 1: as the way you explain did earlier. There's suddenly a 317 00:18:01,359 --> 00:18:05,080 Speaker 1: lot of space vacant, and China is so wonderfully place 318 00:18:05,160 --> 00:18:06,240 Speaker 1: to take some of that space. 319 00:18:07,560 --> 00:18:08,080 Speaker 2: Yeah, it is. 320 00:18:08,160 --> 00:18:10,359 Speaker 6: I mean, I think it's unfortunate that she is not 321 00:18:10,440 --> 00:18:13,560 Speaker 6: coming in terms of the leaders. But this, irrespective of that, 322 00:18:14,040 --> 00:18:16,240 Speaker 6: I think this is the big sort of you know, 323 00:18:16,560 --> 00:18:19,760 Speaker 6: superpower rivalry of our day is China in the United States, 324 00:18:20,600 --> 00:18:22,520 Speaker 6: and you can see it playing itself out in the 325 00:18:22,560 --> 00:18:24,880 Speaker 6: tariff wars and so forth and so on. But here 326 00:18:24,920 --> 00:18:28,040 Speaker 6: it is China is, and particularly on the African continent. 327 00:18:28,359 --> 00:18:29,600 Speaker 1: I mean, look, there's problems. 328 00:18:29,640 --> 00:18:31,440 Speaker 6: We can have a lot of critique of Chinese foreign 329 00:18:31,480 --> 00:18:33,520 Speaker 6: policy in some of the ways to which it's acted, 330 00:18:33,800 --> 00:18:37,200 Speaker 6: But irrespective of that, the bottom line is is that 331 00:18:37,359 --> 00:18:40,040 Speaker 6: what the way I would interpret it, I think several 332 00:18:40,080 --> 00:18:42,680 Speaker 6: other people would interpret the actions of Trump in the 333 00:18:42,760 --> 00:18:46,120 Speaker 6: United States is a declining empire, an empire that has 334 00:18:46,200 --> 00:18:48,840 Speaker 6: ruled for fifty sixty years post World War Two, that 335 00:18:48,960 --> 00:18:50,960 Speaker 6: is realizing that his grip on a lot of things 336 00:18:51,000 --> 00:18:53,960 Speaker 6: is lessening, and China is beginning to take some of 337 00:18:53,960 --> 00:18:54,640 Speaker 6: those spaces. 338 00:18:55,000 --> 00:18:56,040 Speaker 1: So what's going to be. 339 00:18:56,040 --> 00:18:58,240 Speaker 6: Very interesting is how this plays itself out, and it 340 00:18:58,240 --> 00:19:00,399 Speaker 6: could benefit us not only a South Africa, but is 341 00:19:00,400 --> 00:19:03,399 Speaker 6: the African continent because when the superpowers as opposed to 342 00:19:03,520 --> 00:19:08,719 Speaker 6: military conflict, economic competition or economic should we say, you know, 343 00:19:08,920 --> 00:19:12,200 Speaker 6: one upmanship could benefit us in terms of bilateral deals 344 00:19:12,240 --> 00:19:13,760 Speaker 6: and continental trade deals. 345 00:19:14,119 --> 00:19:17,320 Speaker 1: Doctor Dale McKinnie, thanks very much, Independent Political Economists. Twenty 346 00:19:17,320 --> 00:19:22,159 Speaker 1: six minutes after six The Money Show. Intia Silliman is 347 00:19:22,280 --> 00:19:26,359 Speaker 1: a portfolio portfolio manager at Santio Capital. Intia's Good Evening 348 00:19:27,080 --> 00:19:30,240 Speaker 1: cel C today, So an update from them. The listing 349 00:19:30,320 --> 00:19:33,720 Speaker 1: next week seems to be worth well, really roughly a 350 00:19:33,800 --> 00:19:35,520 Speaker 1: quarter less than we previously thought. 351 00:19:36,840 --> 00:19:39,600 Speaker 4: Hi believing, Stephen, Yeah, I think if you look at 352 00:19:39,720 --> 00:19:44,040 Speaker 4: the overall telco market in South Africa, it's quite competitive, 353 00:19:44,080 --> 00:19:46,560 Speaker 4: and what we're seeing with the deduction in the price 354 00:19:47,440 --> 00:19:51,439 Speaker 4: is maybe a softer uptake of what self was hoping 355 00:19:51,480 --> 00:19:54,560 Speaker 4: to get from the IPO. If you just take a 356 00:19:54,600 --> 00:19:58,199 Speaker 4: step back, you know, Celsea transitioned a wild back in 357 00:19:58,280 --> 00:20:01,440 Speaker 4: terms of keeping up the tower, so they don't own 358 00:20:01,480 --> 00:20:05,800 Speaker 4: any infrastructure. Essentially their roam on the likes of Empty 359 00:20:05,920 --> 00:20:10,959 Speaker 4: and Vodicom, and that gives them the ability to build 360 00:20:11,200 --> 00:20:16,080 Speaker 4: out the subscriber base but not invest in the network. Essentially, 361 00:20:16,200 --> 00:20:19,159 Speaker 4: what that means is you don't make as much money 362 00:20:19,520 --> 00:20:22,480 Speaker 4: like the incumbents, so it's we costly to roll out 363 00:20:22,480 --> 00:20:27,000 Speaker 4: a network to build towers, and South Africa is essentially 364 00:20:27,320 --> 00:20:32,160 Speaker 4: a saturated market from a mobile space, so you look 365 00:20:32,200 --> 00:20:34,880 Speaker 4: at around the world, the number one and number two 366 00:20:34,880 --> 00:20:38,480 Speaker 4: operators make most of the money and the number three 367 00:20:38,520 --> 00:20:42,199 Speaker 4: and four really just fall behind and don't generate a 368 00:20:42,200 --> 00:20:44,879 Speaker 4: lot of profits. I think we seeing some sort of 369 00:20:44,960 --> 00:20:48,399 Speaker 4: concern by the market that the model is a bit 370 00:20:48,560 --> 00:20:51,680 Speaker 4: challenged and therefore the price had to be a bit 371 00:20:51,760 --> 00:20:54,040 Speaker 4: lower for the uptake of the IPO. 372 00:20:54,560 --> 00:20:56,480 Speaker 1: I wonder how to talk a move you your comments. 373 00:20:56,520 --> 00:21:02,520 Speaker 1: Emptias SPA had an update today and they suggested that 374 00:21:02,560 --> 00:21:04,880 Speaker 1: their earnings will actually the headline earnings push there will 375 00:21:04,880 --> 00:21:07,320 Speaker 1: actually be slightly lower and the market Spanish them for that. 376 00:21:08,920 --> 00:21:12,120 Speaker 4: Yeah, you know, Spy has been one that has been 377 00:21:12,160 --> 00:21:16,680 Speaker 4: settled with problems, especially in the offshore portfolio. They had 378 00:21:16,720 --> 00:21:20,640 Speaker 4: to take some drastic measures and they've sold the operations 379 00:21:20,680 --> 00:21:24,560 Speaker 4: in Switzerland and Poland and that allowed them to reduce 380 00:21:24,600 --> 00:21:27,720 Speaker 4: some of the debt on the balance sheet. But bringing 381 00:21:28,119 --> 00:21:31,480 Speaker 4: that back home, you know, they implemented the step system 382 00:21:31,680 --> 00:21:34,439 Speaker 4: which didn't work out as they planned and it caused 383 00:21:34,680 --> 00:21:40,120 Speaker 4: massive disruptions in their distribution warehouses which essentially cost them 384 00:21:40,320 --> 00:21:44,240 Speaker 4: lost sales. And they're reading from that, and whilst they're 385 00:21:44,240 --> 00:21:47,879 Speaker 4: reading from that, you've got a very strong competitor like 386 00:21:47,960 --> 00:21:51,240 Speaker 4: a shop right rolling out a lot of stores taking 387 00:21:51,320 --> 00:21:55,440 Speaker 4: up news space. And the Sillifican market has been very 388 00:21:55,480 --> 00:22:00,240 Speaker 4: competitive with inflation and especially food inflation coming down, which 389 00:22:00,280 --> 00:22:03,080 Speaker 4: is ahead wind for the likes of SPAT. So in 390 00:22:03,119 --> 00:22:05,480 Speaker 4: this update they good guide that earnings are going to 391 00:22:05,520 --> 00:22:09,159 Speaker 4: be down, as well as them taking impairments on the 392 00:22:09,160 --> 00:22:13,960 Speaker 4: Switzerland operation, the UK operation and some of the South 393 00:22:14,000 --> 00:22:19,600 Speaker 4: African operations. So overall a bit challenge from that perspective. 394 00:22:19,160 --> 00:22:23,679 Speaker 1: In the South African companies OFFSHORECURTSE and International markets have 395 00:22:23,760 --> 00:22:25,879 Speaker 1: been so volatile the last couple of days. 396 00:22:27,280 --> 00:22:27,520 Speaker 5: Yeah. 397 00:22:27,760 --> 00:22:31,120 Speaker 4: I think what we saw was in Vidia's earnings come 398 00:22:31,160 --> 00:22:35,399 Speaker 4: out on Wednesday night, and whilst they were scalar, the 399 00:22:35,520 --> 00:22:39,520 Speaker 4: market is very concerned about the whole AI bubble that 400 00:22:39,600 --> 00:22:43,040 Speaker 4: we potentially could be in and what does massive amount 401 00:22:43,080 --> 00:22:47,320 Speaker 4: of CAPEX spend by these hyperscalers will mean in terms 402 00:22:47,400 --> 00:22:50,520 Speaker 4: of profits, you know, does it generate enough revenue to 403 00:22:50,760 --> 00:22:54,520 Speaker 4: justify this massive amount of capital X mandature? And that's 404 00:22:54,520 --> 00:22:56,800 Speaker 4: what the market is corapting with. So whilst we're seeing 405 00:22:56,840 --> 00:23:00,200 Speaker 4: still decent results come out of the US, they is 406 00:23:00,280 --> 00:23:04,520 Speaker 4: concerns around some of the valuations of these big companies 407 00:23:04,600 --> 00:23:07,320 Speaker 4: and I think that's what the market's grappling with. And 408 00:23:07,359 --> 00:23:10,439 Speaker 4: on the back of that, you've got the FED which 409 00:23:10,680 --> 00:23:14,560 Speaker 4: is also due to make their interstrate decision in December, 410 00:23:14,720 --> 00:23:17,160 Speaker 4: and the market is also fifty to fifty on weather 411 00:23:17,640 --> 00:23:20,560 Speaker 4: we would get a cut at that meeting or not. 412 00:23:21,000 --> 00:23:24,760 Speaker 1: Intel Suliman, thanks very much, indeed, portfolio manager at Sentio Capital. 413 00:23:24,760 --> 00:23:30,600 Speaker 1: A few seconds after six thirty with Stephen email. 414 00:23:30,320 --> 00:23:34,320 Speaker 2: Him on Stephen at seven two dot co Dotzer. 415 00:23:34,760 --> 00:23:36,760 Speaker 1: On the next Money show, we'll hear from the chief 416 00:23:36,800 --> 00:23:40,960 Speaker 1: executives of African Bank, Netcare and BBC as they unpack 417 00:23:41,040 --> 00:23:43,840 Speaker 1: their latest company results. Then we turn to the art 418 00:23:43,880 --> 00:23:47,680 Speaker 1: world with mar Lize ban Sale, CEO of Aspire Art Plus. 419 00:23:47,840 --> 00:23:50,000 Speaker 1: We'll bring you experts analysis of all of the top 420 00:23:50,000 --> 00:23:53,359 Speaker 1: business news of the day, What the Money Show, the 421 00:23:53,440 --> 00:23:56,399 Speaker 1: Friday File, the Friday File. So I don't know how 422 00:23:56,480 --> 00:23:59,120 Speaker 1: much attention you pay to your sense of smell. If 423 00:23:59,119 --> 00:24:02,760 Speaker 1: you looking down a road and you see something, You're 424 00:24:02,800 --> 00:24:04,960 Speaker 1: in a shopping mall or whatever, and you see something, 425 00:24:05,480 --> 00:24:07,800 Speaker 1: you know what it is that is having an impact 426 00:24:07,800 --> 00:24:11,840 Speaker 1: on you. With smell, with scent, scent, with the sea, 427 00:24:12,160 --> 00:24:14,760 Speaker 1: that's you don't always notice what it is. You can 428 00:24:14,800 --> 00:24:17,119 Speaker 1: be walking down the road and you can suddenly be 429 00:24:17,200 --> 00:24:20,160 Speaker 1: taken back twenty years to that you know that girl 430 00:24:20,200 --> 00:24:21,960 Speaker 1: you met in that place, with that thing that no 431 00:24:22,000 --> 00:24:24,679 Speaker 1: one's ever allowed to talk about, and you suddenly are 432 00:24:24,880 --> 00:24:27,800 Speaker 1: reminded of that, and it'll take you a while to 433 00:24:27,920 --> 00:24:31,440 Speaker 1: notice because what happened was you walk past someone wearing 434 00:24:31,480 --> 00:24:36,280 Speaker 1: the same scent. KG Milorto is the founder of Niche Parfumes. 435 00:24:37,080 --> 00:24:39,000 Speaker 1: He had a different job once, he was a charted 436 00:24:39,040 --> 00:24:41,359 Speaker 1: accountant until he decided to do something that's actually a 437 00:24:41,400 --> 00:24:43,679 Speaker 1: bit more interesting. KG. Good evening, Thanks so much for 438 00:24:43,720 --> 00:24:44,119 Speaker 1: coming in. 439 00:24:44,280 --> 00:24:48,840 Speaker 7: Good evening stuff. Yeah, welcome, Thank you for bringing me here. 440 00:24:49,680 --> 00:24:52,760 Speaker 1: There's such a power to smell, isn't there. We don't 441 00:24:52,760 --> 00:24:54,960 Speaker 1: always realize it, And I mean, isn't that one of 442 00:24:54,960 --> 00:24:58,240 Speaker 1: the important parts of his smell? We don't always realize 443 00:24:58,640 --> 00:25:04,159 Speaker 1: why it's so powerful? Yeah, there is, since is an 444 00:25:04,600 --> 00:25:07,480 Speaker 1: important part of our lives. And I think you touched 445 00:25:07,480 --> 00:25:09,879 Speaker 1: on it a bit on the introduction. 446 00:25:09,520 --> 00:25:14,280 Speaker 7: Which you said that it creates an emotional connection, even 447 00:25:14,320 --> 00:25:16,760 Speaker 7: to the past, that can remind you of their you know, 448 00:25:17,040 --> 00:25:21,440 Speaker 7: past experiences, loved ones in the past, or even traumatic experiences. 449 00:25:21,480 --> 00:25:24,159 Speaker 7: I've had people coming in and the smell of fragrance 450 00:25:24,200 --> 00:25:26,679 Speaker 7: and they're like, it reminds me of like of my eggs. 451 00:25:27,320 --> 00:25:30,439 Speaker 7: I don't want it. Some have said that this reminds 452 00:25:30,480 --> 00:25:32,919 Speaker 7: me of back home. We have some fragances that I 453 00:25:32,960 --> 00:25:36,919 Speaker 7: made like that that are meant to remind us of 454 00:25:36,960 --> 00:25:39,920 Speaker 7: my childhood and distant memories. 455 00:25:41,760 --> 00:25:44,600 Speaker 1: The thing, the thing I find fascinating about it is 456 00:25:45,280 --> 00:25:47,840 Speaker 1: that we often won't know even where a smell comes from, 457 00:25:48,040 --> 00:25:49,800 Speaker 1: just when the person sort of walks past you again. 458 00:25:49,840 --> 00:25:53,120 Speaker 1: And he realized oh, it comes from that person. And 459 00:25:53,160 --> 00:25:55,640 Speaker 1: then I sort of wonder how much time. So if 460 00:25:55,640 --> 00:25:58,119 Speaker 1: you look at how much time someone will spend getting 461 00:25:58,160 --> 00:26:00,760 Speaker 1: dressed to go out, how do I look? No one's 462 00:26:00,840 --> 00:26:04,920 Speaker 1: ever asked me how do I smell? Isn't that interesting? 463 00:26:05,000 --> 00:26:05,879 Speaker 2: It is interesting? 464 00:26:06,040 --> 00:26:08,359 Speaker 7: So yeah, I think people spend a lot of time 465 00:26:09,000 --> 00:26:13,159 Speaker 7: dressing up, and that's important, especially people who like style 466 00:26:13,359 --> 00:26:15,960 Speaker 7: and clothes and personal aura and all of those things. 467 00:26:16,400 --> 00:26:19,120 Speaker 7: But I also think that there are equally people who 468 00:26:19,160 --> 00:26:22,760 Speaker 7: spend a lot of time thinking about what they wear, but. 469 00:26:24,440 --> 00:26:25,639 Speaker 2: It's not a lot of people. 470 00:26:25,880 --> 00:26:28,439 Speaker 7: And I think it's important for people to think about 471 00:26:28,600 --> 00:26:32,080 Speaker 7: sense the way they think about clothes and season and 472 00:26:32,240 --> 00:26:34,560 Speaker 7: the way they change and all of those things. In 473 00:26:34,600 --> 00:26:37,840 Speaker 7: the winter, they try to wear warmer clothes, so in 474 00:26:37,880 --> 00:26:40,880 Speaker 7: the winter you should also try to wear a warmer perfume. 475 00:26:40,920 --> 00:26:44,879 Speaker 7: In the summer they try to wear florals and you know, 476 00:26:45,080 --> 00:26:48,040 Speaker 7: like lighter clothes. Also in the summer you could try that. 477 00:26:48,160 --> 00:26:51,800 Speaker 7: So yeah, a lot of people should think about perfumes 478 00:26:51,800 --> 00:26:54,920 Speaker 7: when they wear and also the occasion in which they 479 00:26:55,280 --> 00:26:57,280 Speaker 7: dress for. Just like when you're going on a date 480 00:26:57,600 --> 00:26:59,639 Speaker 7: on a Friday evening, you dress a certain way on 481 00:26:59,680 --> 00:27:02,159 Speaker 7: a s evening, you dress a certain way. Think of 482 00:27:02,240 --> 00:27:05,080 Speaker 7: a perfume the same way I'm going out on a date. 483 00:27:05,160 --> 00:27:09,520 Speaker 7: What should they wear? Something warm, inviting, central sexy. 484 00:27:09,920 --> 00:27:10,119 Speaker 6: You know. 485 00:27:11,359 --> 00:27:15,000 Speaker 1: Yeah, it's interesting because one of the strongest sense that 486 00:27:15,080 --> 00:27:17,080 Speaker 1: I that I can think of is the sense of summer, 487 00:27:17,200 --> 00:27:18,800 Speaker 1: the center of spring, which is actually the center of 488 00:27:18,800 --> 00:27:21,800 Speaker 1: a blossom, you know. And then there's something to the perfume. 489 00:27:23,080 --> 00:27:28,119 Speaker 1: How are perfumes made? I realized you're a chart to sciences, 490 00:27:28,440 --> 00:27:31,400 Speaker 1: But I mean, I'm always intrigued. Is there some personal 491 00:27:31,520 --> 00:27:35,600 Speaker 1: laboratory somewhere wearing a very strange hat, you know, I mean, what, 492 00:27:35,640 --> 00:27:36,720 Speaker 1: how's it done? 493 00:27:37,000 --> 00:27:41,720 Speaker 7: So it's a long process and it's also a chemical process. 494 00:27:42,440 --> 00:27:46,520 Speaker 7: So yeah, But the actual term, the technical term for it, 495 00:27:46,520 --> 00:27:49,560 Speaker 7: it's called perfumery or if you're making so you have 496 00:27:49,640 --> 00:27:51,960 Speaker 7: people that they call master perfume us, and then you 497 00:27:52,080 --> 00:27:55,240 Speaker 7: also have like junior perfumas. So if you are masterperfuma, 498 00:27:55,320 --> 00:27:58,000 Speaker 7: you must have been doing perfumes for a long time, 499 00:27:58,040 --> 00:27:59,440 Speaker 7: and you have you must. 500 00:27:59,240 --> 00:28:00,840 Speaker 2: Have attained the name. 501 00:28:00,920 --> 00:28:05,040 Speaker 7: You are national or internationally recognized as or must have perfumor. 502 00:28:05,320 --> 00:28:08,679 Speaker 7: But the process of making a perfume as some the 503 00:28:08,840 --> 00:28:14,000 Speaker 7: natural ingredients that are extracted extracted from a natural For example, 504 00:28:14,080 --> 00:28:19,119 Speaker 7: and food could be extra extracted from a tree. The 505 00:28:19,160 --> 00:28:22,280 Speaker 7: smell of roses or florals could be extracted from a rose. 506 00:28:22,600 --> 00:28:26,000 Speaker 7: But we have something like we recently introduced to fragances 507 00:28:26,200 --> 00:28:30,280 Speaker 7: whiskey and fragances. You can't extract directly from whiskey because 508 00:28:30,320 --> 00:28:32,840 Speaker 7: alcohol if operates. So you need to come up with 509 00:28:33,200 --> 00:28:37,840 Speaker 7: molecules and fixatives so that you can create an illusion 510 00:28:38,200 --> 00:28:42,200 Speaker 7: of scent. So you mix chemicals, the aldehys, the you know, 511 00:28:42,320 --> 00:28:44,160 Speaker 7: some of them we don't even know. We don't even 512 00:28:44,320 --> 00:28:48,280 Speaker 7: use on our daily basis. But it's just chemicals that 513 00:28:48,360 --> 00:28:50,760 Speaker 7: are mixed to give a setting scent. 514 00:28:51,880 --> 00:28:55,560 Speaker 1: Does someone in one of these labs do they have 515 00:28:55,640 --> 00:28:57,760 Speaker 1: a sense of an inspiration like a paint would have 516 00:28:57,800 --> 00:29:00,120 Speaker 1: a sense of an inspiration, or someone getting dressed or 517 00:29:00,160 --> 00:29:02,479 Speaker 1: Friday and I would have a sense of inspiration. Or 518 00:29:02,480 --> 00:29:04,480 Speaker 1: do they just play around and so I see what 519 00:29:04,520 --> 00:29:04,840 Speaker 1: they get? 520 00:29:05,040 --> 00:29:08,560 Speaker 7: So it's it's I think it boils down to experience. 521 00:29:08,680 --> 00:29:12,480 Speaker 1: How much do you know? Because what you know is what. 522 00:29:12,400 --> 00:29:15,240 Speaker 2: Will enable you to attempt great exploits. 523 00:29:15,280 --> 00:29:17,760 Speaker 7: So my favorite perfumer in this entire world is a 524 00:29:18,160 --> 00:29:22,640 Speaker 7: guy by the name of Alessandro. His perfumes, all of 525 00:29:22,680 --> 00:29:26,440 Speaker 7: them have a beautiful story. One of the favorite flances 526 00:29:26,480 --> 00:29:29,560 Speaker 7: from him is called begamasque. 527 00:29:29,760 --> 00:29:31,120 Speaker 2: So begamask is a. 528 00:29:31,160 --> 00:29:37,360 Speaker 7: Fruity, citrusy, woody and ethy type of fragance. So because 529 00:29:37,400 --> 00:29:40,040 Speaker 7: he grew up his grandfather was a perfumer, he grew 530 00:29:40,160 --> 00:29:42,520 Speaker 7: up in his father's garden most of the time. So 531 00:29:42,560 --> 00:29:46,560 Speaker 7: he and the garden contained some citruses, the lemons, the 532 00:29:46,600 --> 00:29:50,040 Speaker 7: pergamonts and all of those things. So there comes the 533 00:29:50,080 --> 00:29:52,440 Speaker 7: citrus top notes, and in the medal you have their 534 00:29:52,760 --> 00:29:55,080 Speaker 7: woods which are coming from the tree, and then you 535 00:29:55,120 --> 00:29:57,800 Speaker 7: have the ethiness, which is coming from the crown. So 536 00:29:57,840 --> 00:30:02,120 Speaker 7: he took that memori and try to recreate it into 537 00:30:02,160 --> 00:30:05,640 Speaker 7: a scent. And when I wait, every time I spray it, 538 00:30:05,800 --> 00:30:09,040 Speaker 7: I can smell that watch which he was communicating. You know, 539 00:30:09,080 --> 00:30:13,760 Speaker 7: you have another one called seminalis. It's a beautiful sensual 540 00:30:13,840 --> 00:30:18,280 Speaker 7: fragrance which explores body of fluids and it has artificial 541 00:30:19,680 --> 00:30:25,680 Speaker 7: did you say yes, it's a strange He's a strange guy. 542 00:30:25,760 --> 00:30:31,320 Speaker 7: He's called the crazy perfuma, and it has artificial smell 543 00:30:31,400 --> 00:30:34,760 Speaker 7: of spam in it and with mixed with your milk, 544 00:30:34,960 --> 00:30:38,320 Speaker 7: your honeys, you know, lactone and sandalwood at the base. 545 00:30:38,480 --> 00:30:41,760 Speaker 7: And when you smell that thing, you know, like, what 546 00:30:41,920 --> 00:30:43,760 Speaker 7: is this guy doing? You know, he's got another one 547 00:30:43,800 --> 00:30:47,680 Speaker 7: called thecas it's from pieces and animal pieces and it 548 00:30:47,720 --> 00:30:49,520 Speaker 7: does smell like that, but he gave it like a 549 00:30:49,520 --> 00:30:53,440 Speaker 7: bit of sweetness to it, and it's just like amazing. 550 00:30:53,480 --> 00:30:55,480 Speaker 7: It's an at you know, worth exploring. 551 00:30:55,560 --> 00:31:01,800 Speaker 1: This conversation's got a very strengch. There is often if 552 00:31:01,800 --> 00:31:04,200 Speaker 1: you go to a place where you can buy sense 553 00:31:04,280 --> 00:31:07,440 Speaker 1: or perfumes, you'll see a sort of men's section and 554 00:31:07,480 --> 00:31:10,440 Speaker 1: a woman's section. Is there really such a thing as 555 00:31:10,440 --> 00:31:12,480 Speaker 1: a male fragrance and a female fragrance? 556 00:31:13,600 --> 00:31:18,040 Speaker 7: I think on a high level they is, But I 557 00:31:18,040 --> 00:31:23,320 Speaker 7: think perfumes it's more of a marketing strategy to let'sify 558 00:31:23,400 --> 00:31:25,600 Speaker 7: this is a female fragance and is That's what I 559 00:31:25,640 --> 00:31:28,959 Speaker 7: wanted you to say on But there is also a 560 00:31:29,000 --> 00:31:31,600 Speaker 7: truth to it. Where you smell something, it just smells 561 00:31:31,600 --> 00:31:34,600 Speaker 7: super sweet and floral and all of these things. And 562 00:31:34,640 --> 00:31:36,880 Speaker 7: as a guy, you say, I wouldn't wait, But it 563 00:31:36,880 --> 00:31:39,320 Speaker 7: doesn't mean that all guys can't wait. There are guys 564 00:31:39,360 --> 00:31:41,880 Speaker 7: would lean towards it, and they should wait. There are 565 00:31:41,920 --> 00:31:44,640 Speaker 7: freguances that we said that these are female fragances, but 566 00:31:44,760 --> 00:31:47,000 Speaker 7: if a customer comes into the store and we make it, 567 00:31:47,120 --> 00:31:49,640 Speaker 7: we make them test it, they are most likely to 568 00:31:49,760 --> 00:31:52,320 Speaker 7: lean towards it, and we'll give it to them without 569 00:31:52,360 --> 00:31:54,200 Speaker 7: telling them. But as soon as they go on the 570 00:31:54,200 --> 00:31:57,240 Speaker 7: website and they see it under female fragances, they want 571 00:31:57,240 --> 00:31:57,760 Speaker 7: to bring it back. 572 00:31:58,240 --> 00:31:59,560 Speaker 2: This is a female fragance, you know. 573 00:31:59,560 --> 00:32:02,640 Speaker 7: And we always encourage them that if you like it, 574 00:32:02,680 --> 00:32:05,200 Speaker 7: you like it, nobody's going to judge you where whatever 575 00:32:05,240 --> 00:32:09,600 Speaker 7: you want away. But us from a perfumehouses niche performans 576 00:32:09,600 --> 00:32:13,840 Speaker 7: what we've been doing. We've been coining more on the 577 00:32:13,960 --> 00:32:16,760 Speaker 7: unisex fragances, trying to get fragances that. 578 00:32:18,640 --> 00:32:20,640 Speaker 2: Be fitting both for male and female. 579 00:32:22,840 --> 00:32:28,480 Speaker 1: And I presume that packaging plays a huge role in this, right, Yeah, 580 00:32:28,560 --> 00:32:31,000 Speaker 1: So the smell is one thing, yes, but it's also 581 00:32:31,200 --> 00:32:33,840 Speaker 1: if you're going to sell a perfume, the packaging really matters. 582 00:32:34,200 --> 00:32:38,400 Speaker 7: Yes, it does matter, but it's it just depends where 583 00:32:38,400 --> 00:32:41,400 Speaker 7: you are. I think from a South African perspective, how 584 00:32:41,400 --> 00:32:44,080 Speaker 7: we started, we started with our packaging wasn't that nice, 585 00:32:45,040 --> 00:32:47,880 Speaker 7: but we realized that you've got influence us. You've got 586 00:32:48,320 --> 00:32:50,200 Speaker 7: we sell to the gen z's, the people of the 587 00:32:50,240 --> 00:32:55,440 Speaker 7: social media. And because our braind was basically started from 588 00:32:55,480 --> 00:32:59,120 Speaker 7: the social media perspective, so we knew that esthetics met us. 589 00:32:59,160 --> 00:33:01,200 Speaker 7: We needed to make it look better. But you have 590 00:33:01,280 --> 00:33:07,640 Speaker 7: some heritage friends. I'll put one it's a nice brind 591 00:33:07,720 --> 00:33:11,440 Speaker 7: but they didn't give too much thought into their packaging. 592 00:33:11,480 --> 00:33:14,800 Speaker 7: It's just a simple look and feel. But then the 593 00:33:14,840 --> 00:33:17,680 Speaker 7: stuff inside it's what metters for them and it's really good. 594 00:33:17,720 --> 00:33:20,480 Speaker 7: So you have many other friends that don't focus a 595 00:33:20,520 --> 00:33:24,680 Speaker 7: lot on packaging, but they have the money to market 596 00:33:24,760 --> 00:33:27,640 Speaker 7: their things, and they also the craftsmanship is great and 597 00:33:27,680 --> 00:33:29,760 Speaker 7: the perfumes speak for itself. So I think from a 598 00:33:29,800 --> 00:33:33,520 Speaker 7: South African perspective, we sort of need to overcompensate. The 599 00:33:33,520 --> 00:33:35,920 Speaker 7: thing needs to be to look nice for someone to 600 00:33:35,920 --> 00:33:38,000 Speaker 7: buy it and to trust it because it's not coming 601 00:33:38,040 --> 00:33:38,520 Speaker 7: from friends. 602 00:33:40,560 --> 00:33:43,080 Speaker 1: It cag Thank you really good to talk to you 603 00:33:43,120 --> 00:33:47,600 Speaker 1: really appreciate the time is the founder of niche performs 604 00:33:50,920 --> 00:33:57,440 Speaker 1: one one three. Okay, time now for the Friday Let's 605 00:33:57,480 --> 00:33:59,400 Speaker 1: on the money show. You know how it works. You 606 00:33:59,440 --> 00:34:01,440 Speaker 1: call us on O double one double A three Oh 607 00:34:01,520 --> 00:34:04,200 Speaker 1: seven oh two two one four four six o five 608 00:34:04,280 --> 00:34:06,160 Speaker 1: six seven, I ask you a question. If you get 609 00:34:06,160 --> 00:34:08,839 Speaker 1: the question right, we move on to the next question. 610 00:34:08,880 --> 00:34:11,880 Speaker 1: If we get the question wrong, we move on to 611 00:34:11,960 --> 00:34:15,439 Speaker 1: the next caller. Okay, first question on the Friday bus 612 00:34:15,560 --> 00:34:19,840 Speaker 1: Blit's this g twenty Friday. How by how many basis 613 00:34:19,880 --> 00:34:22,800 Speaker 1: points did the South African Reserve Bank cut the repo 614 00:34:22,960 --> 00:34:26,719 Speaker 1: rate in its latest decisions? A simple question? By how 615 00:34:26,719 --> 00:34:30,319 Speaker 1: many basis points did the South African Reserve Bank cut 616 00:34:30,360 --> 00:34:33,480 Speaker 1: the repo rate cut interest rates in its latest decision? 617 00:34:33,520 --> 00:34:36,080 Speaker 1: Oh double one double a three oh seven oh two 618 00:34:36,080 --> 00:34:40,520 Speaker 1: two one four four six, five six seven. The Money 619 00:34:40,560 --> 00:34:41,720 Speaker 1: shows people cuts. 620 00:34:41,840 --> 00:34:45,080 Speaker 7: He is brought to you by ABSURS cib capsures are 621 00:34:45,080 --> 00:34:45,880 Speaker 7: registered FSP. 622 00:34:48,160 --> 00:34:51,640 Speaker 1: The Money Show Friday busines litz oh double one double 623 00:34:51,640 --> 00:34:53,399 Speaker 1: a three oh seven oh two o two one four 624 00:34:53,440 --> 00:34:55,840 Speaker 1: four six oh five six seven. By how many basis 625 00:34:55,880 --> 00:34:58,680 Speaker 1: points did the Reserve Bank cut interest rates cut the 626 00:34:58,719 --> 00:35:02,560 Speaker 1: repo rate in its latest decision? Let's go to mayersdah 627 00:35:03,120 --> 00:35:04,799 Speaker 1: and high. 628 00:35:05,680 --> 00:35:10,920 Speaker 5: Hello, it's point two five basis points. I don't know. 629 00:35:11,040 --> 00:35:14,120 Speaker 1: Point two five basis points is quite the right, the 630 00:35:14,200 --> 00:35:18,120 Speaker 1: right way. I'm so sorry, Babalo Charlene in rudeput by. 631 00:35:18,160 --> 00:35:21,640 Speaker 1: How many basis points did the did the Reserve Bank 632 00:35:21,719 --> 00:35:22,799 Speaker 1: cut the repo rate? 633 00:35:24,040 --> 00:35:25,640 Speaker 5: So idea comment to five. 634 00:35:26,960 --> 00:35:29,719 Speaker 1: It's put in a different way, And I'm going to 635 00:35:29,760 --> 00:35:32,880 Speaker 1: give you another guest, Shirlene, you're kind of there, but 636 00:35:33,000 --> 00:35:41,920 Speaker 1: it said put in a different way. Point five, Sorry, Shirlen. 637 00:35:42,480 --> 00:35:45,719 Speaker 1: Mohammad in Prectoria. How many basis points? 638 00:35:45,719 --> 00:35:46,960 Speaker 5: Twenty five basis points? 639 00:35:46,960 --> 00:35:49,960 Speaker 1: Twenty five basis points there, I'm afraid the decimal place 640 00:35:50,480 --> 00:35:54,360 Speaker 1: it does matter, Muhammed? All right, second question. This weekend, 641 00:35:54,600 --> 00:36:00,000 Speaker 1: a US retail giant officially opens its first branded store 642 00:36:00,200 --> 00:36:03,960 Speaker 1: in Africa at Johannesburg's clear Water Moll. Which company is 643 00:36:04,000 --> 00:36:05,000 Speaker 1: making this big move? 644 00:36:08,719 --> 00:36:09,040 Speaker 2: Sorry? 645 00:36:09,080 --> 00:36:15,040 Speaker 1: I don't know, oh Mohammed. Okay, Chris, Which US retail 646 00:36:15,120 --> 00:36:18,839 Speaker 1: giant is opening its first branded store in Africa at 647 00:36:18,920 --> 00:36:20,200 Speaker 1: Jerburg's clear Water Mall? 648 00:36:21,040 --> 00:36:21,279 Speaker 7: Hello? 649 00:36:21,640 --> 00:36:22,800 Speaker 5: Then Walmart? 650 00:36:23,000 --> 00:36:26,239 Speaker 1: It is Walmart? Chris? Yes, eight o'clock tomorrow morning, if 651 00:36:26,239 --> 00:36:29,640 Speaker 1: you're that interested. Okay, there's your G twenty question. There 652 00:36:29,640 --> 00:36:31,960 Speaker 1: had to be one. We all know where the G 653 00:36:32,040 --> 00:36:34,120 Speaker 1: twenty is being held this weekend. We all know where 654 00:36:34,120 --> 00:36:36,960 Speaker 1: it's due to be held next year, but where was 655 00:36:37,000 --> 00:36:44,800 Speaker 1: the last g twenty summit held that was in the goal, Chris, 656 00:36:45,080 --> 00:36:47,879 Speaker 1: I will accept Brazil. It was Brazil. It was Rio 657 00:36:47,960 --> 00:36:53,360 Speaker 1: de Janeiro. Okay. At this hotel group reported its highest 658 00:36:53,400 --> 00:36:56,880 Speaker 1: occupancy since the twenty ten feet of World Cup, hitting 659 00:36:57,440 --> 00:37:01,440 Speaker 1: hitting seventy three point three percent in October. Which group 660 00:37:01,760 --> 00:37:13,360 Speaker 1: was it that international? No? So confident Bonging Cossy and 661 00:37:13,440 --> 00:37:17,160 Speaker 1: Kimpton Park. Which group had its highest occupant seasons the 662 00:37:17,160 --> 00:37:22,960 Speaker 1: World Cup? Bonging Cossy could even good. 663 00:37:23,040 --> 00:37:26,360 Speaker 5: I would have sid it some U. 664 00:37:27,920 --> 00:37:29,120 Speaker 2: The top of some group. 665 00:37:30,160 --> 00:37:32,440 Speaker 1: No, I mean you've got one of the words rights, 666 00:37:32,600 --> 00:37:34,319 Speaker 1: So I'll give you another go last go. 667 00:37:35,960 --> 00:37:37,640 Speaker 5: Oh my gosh, come. 668 00:37:37,440 --> 00:37:39,680 Speaker 1: On Bonging, because you're gonna, you're gonna you're gonna clup 669 00:37:39,719 --> 00:37:42,480 Speaker 1: yourself if you don't get it for fun and so 670 00:37:43,760 --> 00:37:49,680 Speaker 1: oh Southern Son. Yes, we'll take it all right. Next question, 671 00:37:50,200 --> 00:37:54,120 Speaker 1: South Africa got his first credit ratings upgrade in twenty years. 672 00:37:54,160 --> 00:37:57,279 Speaker 1: Which agency gave us the upgrade? 673 00:37:59,840 --> 00:38:01,879 Speaker 5: I will go more? 674 00:38:01,920 --> 00:38:05,040 Speaker 1: Do you no? Come on, Bombing Coursey. I'll give you 675 00:38:05,040 --> 00:38:06,160 Speaker 1: one last guess. 676 00:38:08,320 --> 00:38:10,680 Speaker 5: Come on, I'm not I'm not sure. 677 00:38:12,480 --> 00:38:16,600 Speaker 1: Bombing Cossey. I'm sorry. Okay. The answer was S and P. 678 00:38:17,000 --> 00:38:18,400 Speaker 1: Global at seven o'clock