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

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Speaker 1: O two.

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Speaker 2: Let's walk little.

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Speaker 3: The Money Show with Stephen Crotis is brought to you

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Speaker 3: by abscess cib Discover the latest trends shaping digital assets

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Speaker 3: across Africa. Download the ABS Africa Digital Assets Insights twenty

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Speaker 3: twenty five, nine minutes after six, Good evening, Welcome to

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Speaker 3: the program. I'm Stephen Cretis looking forward to a conversation

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Speaker 3: with Francois Rodgers. He's THEMEC for Finance in Kwa Zula

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Speaker 3: Natel Itala at the financial institution looks like they're going

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Speaker 3: to be able to pay depositors before Christmas. You can

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Speaker 3: imagine the anxiety around at the Prudential Authority saying that

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Speaker 3: Itala is actually technically insolvent. A lot of numbers to

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Speaker 3: look at it. We'll speak to the MEC in just

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Speaker 3: a moment. I know most of the conversation around the

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Speaker 3: panel that we'll look at. Who will be the new

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Speaker 3: National Director of Public Prosecutions has been around. Menzie Soimalani's

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Speaker 3: a former NDPP who was removed because it turned out

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Speaker 3: as the Constitutional Court said he had noo been appointed properly.

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Speaker 3: The issue is that there was a finding by Frny

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Speaker 3: Jinwala that he had Prima Faci lied under oath. Matt's

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Speaker 3: never been sorted out how Menzy Simalani ended up on

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Speaker 3: that short list. I have absolutely no idea. But there

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Speaker 3: are other issues around the NPA and but the sum

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Speaker 3: of VOSAW from Business Leadership South Africa is calling for

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Speaker 3: much deeper a formula here from her in a few

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Speaker 3: moments as well, and then a lot more cars being sold,

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Speaker 3: it would appear, and particularly new cars. This is according

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Speaker 3: to NAMSA. I do wonder if the sort of cheaper

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Speaker 3: Chinese models are having an impact there. We look at

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Speaker 3: why our PMI the Purchasing Managers Index is slightly lower

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Speaker 3: before seven o'clock and have a look at how life

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Speaker 3: insurance has changed over the last twenty years. Good to

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Speaker 3: hear from you tonight O double one double A three

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

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Speaker 3: and of course voice notes this evening on seven two

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

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Speaker 2: On the Money shows six to eight pm.

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Speaker 3: A report in Business Day this afternoon Business Live, I

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Speaker 3: should say that the World Health Organization has now changed

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Speaker 3: its recommendations on how to use the new weight loss drugs,

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Speaker 3: a semi glut tides and all the things. They all

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Speaker 3: all sorts of names, but I think you know the

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Speaker 3: ones that I'm talking about. In the past, they've been

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Speaker 3: used primarily to help treat diabetes, now being used to

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Speaker 3: deal with obesity and weight loss. And the WHO has

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Speaker 3: now changed their guidelines so they can be used and

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Speaker 3: it recommends that they be used for weight loss. And

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Speaker 3: this has all sorts of consequences because it also means

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Speaker 3: then that our government, for example, might at some point

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Speaker 3: want to use these drugs to treat obesity in people

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Speaker 3: in state hospitals. But it may also have implications for

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Speaker 3: medical aids. And I don't know if you have a

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Speaker 3: view on whether these drugs they've been around for a

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Speaker 3: little while that do seem to be safe. There's been

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Speaker 3: a lot of research on them. There's a huge amount

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Speaker 3: of money that will be made from them by the

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Speaker 3: pharmaceutical companies. But I can't help but wonder if we're

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Speaker 3: getting closer to an era where actually lots of people

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Speaker 3: are going to be on them. People you know, if

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Speaker 3: you're not on them yourself. And I bump into some

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Speaker 3: people from time to time who I sort of look

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Speaker 3: at and I say, what's the polite phrase? You're looking well?

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Speaker 3: And sometimes they tell you what they're doing. Sometimes they don't.

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Speaker 3: Sometimes they just have a lot more willpower than I do.

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Speaker 3: I do think we're moving to an era in which

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Speaker 3: we might find that governments and medical aids actually do

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Speaker 3: pay for weight loss drugs. I don't know if you

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Speaker 3: think they should or if they shouldn't. Would you use them?

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Speaker 3: Have you used them? Double one double A three seven

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

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Speaker 3: and of course your voice notes on seven two seven

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Speaker 3: oh two one seven o two.

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Speaker 4: The Lney Show with Stephen Krudis live on ninety two

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Speaker 4: point seven and one o six f M, streaming on

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Speaker 4: the Prime Media Plus.

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Speaker 2: NAP and DStv channel eight five six.

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Speaker 3: An announcement today from the Quazula Natel premier Tommy and

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Speaker 3: Tuley that people with money in the Financial Institution ETALA

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Speaker 3: will be able to get their money out before Christmas.

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Speaker 3: The Potential Authority took over the Institution's affairs two years ago,

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Speaker 3: saying an exemption that allowed to take deposits had lapsed,

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Speaker 3: it could continue taking people's money illegally. A Qua Zulnatel

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Speaker 3: provincial government owns the institution. There's been a big court

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Speaker 3: battle about this as well. The MEC for Finance in

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Speaker 3: case itain is the DA's Francois Rodgers MEC. Good evening,

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Speaker 3: and thank you for the time today. I do appreciate it.

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Speaker 3: What did you have to do to ensure that people

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Speaker 3: can get their money out? What kind of arrangements have

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Speaker 3: you now made?

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Speaker 5: Good evening, Stephen, and good evening to your listeners. It's

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Speaker 5: been a difficult and hard journey. You'll remember in January,

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Speaker 5: the Repayment Administrator that was appointed by the Prudential Authority

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Speaker 5: basically hamstrung Itala and shut it down. Didn't just shut

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Speaker 5: down the actual depositors side of it, but shut down

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Speaker 5: the entire bank. And as you said, rightly said, we've

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Speaker 5: been in and out of court with the Repayment Authority

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Speaker 5: because we felt that he succeeded his mandate, which two

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Speaker 5: court rulings found in our favor, and the RA continue

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Speaker 5: to appeal. It be that as it may. What we

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Speaker 5: eventually did, and in negotiations with the Minister of Finance

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Speaker 5: we got a two point two billion rand loan from

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Speaker 5: National government, which that with the one billion rand that

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Speaker 5: Itala has cashed back in the in the bank itself.

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Speaker 5: We are now in a position to ensure that every

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Speaker 5: single rand that is deposited in Itala will be able

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Speaker 5: to be accessed by those particular clients. Also, what's more,

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Speaker 5: we've been told now that the RA will pull out

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Speaker 5: of it Tyler and deal with the distribution of the

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Speaker 5: funds to the account holders and that the liquidation application

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Speaker 5: by the PA will be suspended.

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Speaker 3: Okay, so the money that's being paid out isn't all

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Speaker 3: e Tyler's money. Two thirds of it is government's money.

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Speaker 5: So two point two billion rand, as you as you

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Speaker 5: rightly say, is alone that's been given to us, and

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Speaker 5: of course that's backed up by the current situation. We

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Speaker 5: have a loan book of one point nine seven seven

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Speaker 5: billion rand in Etala, which has guarantees of three point

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Speaker 5: two billion rand. You know, so if you add the

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Speaker 5: one billion onto the one point nine billion, then you

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Speaker 5: can see that. This is why we've also said we

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Speaker 5: failed to understand why there's you know, this accusation that

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Speaker 5: the assets are shorter than the assets, liabilities exceed the assets.

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Speaker 3: Well, the Prudential Authority said that it had done an

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Speaker 3: ordered an independent ordered and made the finding. It was

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Speaker 3: the order that made the finding Itala was technically insolvent.

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Speaker 5: Well, it's certainly not the figures we have at hand,

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Speaker 5: and what we have at hand is the figures that

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Speaker 5: are produced by the bank accounts. So and it's certainly

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Speaker 5: nothing that the Order to General picked up in their report.

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Speaker 5: This is why we've been in and out of court

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Speaker 5: and why we defended the liquidation application.

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Speaker 3: Okay, but then just explain to me why you need

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Speaker 3: to borrow money to pay depositors who deposited money at Itala.

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Speaker 3: They put the money in. If Itala was in such

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Speaker 3: a strong financial position, the money would still be there.

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Speaker 3: On the face of it would seem it's not there,

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Speaker 3: and that's why you need to borrow this money.

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Speaker 5: So, Stephen, I'm not a banker. Let me firstly put

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Speaker 5: that on the table. I have no experience other than

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Speaker 5: having to borrow myself from a bank. But my understanding

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Speaker 5: is there is no banking commercial institute that can back

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Speaker 5: its depositors rand by rand, because what banks do is

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Speaker 5: they take money, they then lend it out on a

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Speaker 5: bond or a car finance, et cetera, et cetera. So

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Speaker 5: you've got to look at the overall picture rather than saying,

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Speaker 5: you know, does Itala have rand for rand on the

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Speaker 5: depositors money. No bank has that. That's my understanding.

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Speaker 3: Okay, so that may be the case, and I think

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Speaker 3: you must be right on that, But then you were

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Speaker 3: still if Etala doesn't actually have the money, and if

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Speaker 3: the PA is right and it is technically insolvent this

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Speaker 3: loan that you've received one day, I presume the provincial government,

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Speaker 3: as the owner of Ittala, would have to pay back.

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Speaker 5: Indeed, but let's assume, for argument's sake, in the banking environment,

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Speaker 5: we had to call in all the loans it's just

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Speaker 5: short of two billion Rand. We then would not have

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Speaker 5: had to borrow the money. We would have been some

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Speaker 5: two hundred million short. So that's the reality. The other

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Speaker 5: situation we've got is that because there are shut down

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Speaker 5: the bank's operations, people have not been able to those

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Speaker 5: people who've been paying off their loans and their bonds

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Speaker 5: that are doing it on debit orders. They've not paid

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Speaker 5: for the last eight months because their account's been closed.

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Speaker 5: You've got to add that revenue into the loans balanced.

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Speaker 5: So you know, it's it's fine detail, but at the

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Speaker 5: end of the day, we believe we'll get out of

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Speaker 5: this situation. And the most important thing to us, Stephen,

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Speaker 5: is that the depositors are going to get their money.

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Speaker 5: That was was what worried us as government.

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Speaker 3: Sure, I mean, of course it is the most important

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Speaker 3: thing in all of this. But the bank also was

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Speaker 3: taking money without was taking depositors money illegally and was

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Speaker 3: not ring fencing that money in the way it was

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Speaker 3: supposed to. Are you going to be able to make

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Speaker 3: sure that never happens again.

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Speaker 5: We have to do that, Stephen. We're going to have

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Speaker 5: to make the difficult call at now that the money

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Speaker 5: is being guaranteed for the depositors, that we need to

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Speaker 5: have an inquiry. We need to determine how we got here,

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Speaker 5: why we got here, and there needs to be accountability

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Speaker 5: because you know, somebody created this mess and somebody needs

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Speaker 5: to be held accountable for it.

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Speaker 3: All right, So Francois Rogers, thank you. I've really to

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Speaker 3: appreciate the time. The MEC of Finance in kwanzillinatel the Money.

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Speaker 4: Show on seven notas Monday to Friday, six to a pm.

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Speaker 3: Nineteen minutes after sex well as a panel prepares to

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Speaker 3: meet to consider who should be the new National Director

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Speaker 3: of Public Prosecutions. The CEO at Business Leadership A SA

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Speaker 3: was assum of also calling for much wider reform around

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Speaker 3: the National Prosecuting Authority. A bussim of also, good evening,

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Speaker 3: and thank you for your time. Obviously the person who

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Speaker 3: leads the NPA is important, but why do you believe

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Speaker 3: we need a much bigger reform than that.

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Speaker 6: Stephen, Good evening.

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Speaker 7: Look, I think the issue of the rule of law

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Speaker 7: is essential to a fashion in democracy. It's essential to

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Speaker 7: the country. When you look at the Business Government Partnership

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Speaker 7: and you look at the three xtremes that we're actually

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Speaker 7: focusing on, crime and corruption is the one that is

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Speaker 7: a truly legging behind. But also our criminal justice system,

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Speaker 7: Stevin is in shambles of the progress that we have

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Speaker 7: made as a country. There is that recognition that strengthening

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Speaker 7: of the criminal justice system is critical. You don't need

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Speaker 7: to look far, Stephn just listen to the Maginal Commission

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Speaker 7: to understand how compromise our as system is. The current

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Speaker 7: process therefore for appointing an MTPP should be used as

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Speaker 7: a nexus for the reforms required to strengthen the eight

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Speaker 7: NPA's independence. Yes, the NPA is just that one institution,

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Speaker 7: a very critical one that is responsible for prosecutions.

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Speaker 6: But then there.

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Speaker 7: Is not that much independence that they actually have. I mean,

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Speaker 7: look at the fact that it was the President to

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Speaker 7: actually head to suspend Advocate Andro Chahuga of houting, not Shamela,

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Speaker 7: after Shamela had raised this for two years of hair

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Speaker 7: concerns around the advocates fitness.

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Speaker 6: To hold office as it were.

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Speaker 7: So we're just saying that, you know, as much as

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Speaker 7: the responsibility has been linked on the committee, you know,

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Speaker 7: to select the right candidate, their job would be incomplete

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Speaker 7: stiven if they don't use the backdrop of them QUANASI

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Speaker 7: inquiry of what is coming out of the main commission

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Speaker 7: to ensure that this is a holistic exercise which will

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Speaker 7: not only recommend who needs to be appointed, but use

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Speaker 7: the current context to recommend to the President. Then necessary

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Speaker 7: reforms that will be required to ensure that the NPA

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Speaker 7: can have related So it's an opportunity. Let's just do

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Speaker 7: the full job. Why are we doing half spits.

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Speaker 3: I mean, the issue around the independence of the NPA

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Speaker 3: goes all the way back to the decision by then

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Speaker 3: President Taburnbaki de Vivuzzi Baculi in two thousand and seven,

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Speaker 3: and there was the conflict then with the Justice Ministry.

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Speaker 3: Do you think in all of that time there's been

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Speaker 3: no change because there's no political will. I mean, it

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Speaker 3: might suit someone in governments have a little bit more

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Speaker 3: power over the NPA than they should.

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Speaker 7: There's actually been very little change because when you look

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Speaker 7: at what the constitution says in as far as you

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Speaker 7: know the MPA's consent Section one seventy nine under section

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Speaker 7: thirty two of the NPAC, you will see that as

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Speaker 7: much as it speaks about impartiality and oath and affirmation

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Speaker 7: by members of the prosecuting authority, it actually doesn't really

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Speaker 7: give it much power. It talks about the fact that

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Speaker 7: these people lers need to take the oath of office,

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Speaker 7: but it really doesn't you know, are ensure that this

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Speaker 7: institution can act independently up until today's given this, as

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Speaker 7: I said earlier on, is a unit, you know, and

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Speaker 7: it is a program within the criminal or the Department

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Speaker 7: of Justice. Why should that continue to be you know,

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Speaker 7: it's actually being overseen by the DG of the Department

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Speaker 7: of Justice. It doesn't make sense, you know, shouldn't this

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Speaker 7: institution be put in place as a Chapter nine institution.

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Speaker 7: What real power do you think about it? Do they

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Speaker 7: really have? You know, even when they have to appoint

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Speaker 7: service providers, that is not done within the NPA, it's

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Speaker 7: actually done with the Department of Justice, which therefore witten

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Speaker 7: Chamila because she knows what support actually requires, but she

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Speaker 7: can't go out there to actually procure the support that

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Speaker 7: she needs. It has to be left for some to

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Speaker 7: someone else. And then we complain as a country about

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Speaker 7: her ineffectiveness, about her inability to could have actually accelerated

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Speaker 7: the prosecutions, but we don't naturally look back and say,

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Speaker 7: what power does this woman really have? So it's not

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Speaker 7: about Shamula, it's really about the office. It's really about

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Speaker 7: the country taking seriously the issue of ensuring that we

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Speaker 7: can actually prosecute. It's to ensure stilling that we shouldn't

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Speaker 7: go back to the fact a play listings. Remember one

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Speaker 7: of the biggest issues that they raise was our failure

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Speaker 7: to prosecute. But this is an institution that has been

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Speaker 7: seriously compromised. We are naives as a country stilling to

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Speaker 7: think that the corruption the state capture project was not deep,

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Speaker 7: it was not wide, and it wasn't high and the

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Speaker 7: Vaianal Commission is actually telling us that, so what do

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Speaker 7: interventions therefore and what reforms do we need to put

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Speaker 7: in place to ensure that we don't yet put this

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Speaker 7: new candidate with both his hands tied behind their back

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Speaker 7: and you put them in the boxing ring and you

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Speaker 7: say fight. There is no way that it's going to

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Speaker 7: be able to do that. You know, if you don't

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Speaker 7: give them the necessary powers you can actually deal with

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Speaker 7: what it is You can't how can you not fire

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Speaker 7: your own people being and coo as it were? You know,

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Speaker 7: it really cripples you. So I think this actually needs

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Speaker 7: to be a broader engagement and I think a broader

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Speaker 7: a program that looks at all of these things too.

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Speaker 3: Wilsim of also thank you so much.

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Speaker 8: See you.

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Speaker 3: Business Leadership South Africa.

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Speaker 2: Seven two Stephens on x at at Stephen Kreutz.

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Speaker 3: The Automobile Association AMS are reporting aggregate new vehicle sales

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Speaker 3: up by twelve and a half percent in November compared

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Speaker 3: to the same month last year. The new vehicle market's

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Speaker 3: now fifteen percent ahead of where it was this time

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Speaker 3: last year. Doctor Paulina Mamojobo is the chief economist at Namsa, Paulina,

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Speaker 3: A good evening to you, thank you. What's driving this

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Speaker 3: quite big surge.

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Speaker 9: Good evening, Stephen, and good evening to your listeners. Yeah, definitely.

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Speaker 9: In twenty twenty five as a whole, we actually have

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Speaker 9: seen quite a strong momentum in new vehicle But of course,

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Speaker 9: important to mention is that there are a couple of

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Speaker 9: elements that are driving the research.

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Speaker 10: Right.

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Speaker 9: So if we take a microeconomic lens, believers that actually

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Speaker 9: turned in our favor. We've seen inflation easing quite nicely,

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Speaker 9: which consequently led to the reduction of interest rates. Of

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Speaker 9: course that creates credit availability, and we saw household disposable

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Speaker 9: income pick up quite nicely. Then consumers being able to

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Speaker 9: also spend on high ticket price items such as our

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Speaker 9: vehicle code. So another element to mention as well, Steven,

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Speaker 9: is of course we've seen the rent strengthening. That has

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Speaker 9: also done is that it has bold the ability to

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Speaker 9: import even into the country. So even on the new

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Speaker 9: vehicle l side, while we see this boom, important to mention.

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Speaker 3: Is doctor, I don't know if I'm going to ask

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Speaker 3: you just to move around to strengthen the cell phone

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Speaker 3: reception there. I know some of the people bringing new

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Speaker 3: Chinese cars into the market don't report their figures to you.

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Speaker 3: We know that there are many of them. I would

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Speaker 3: imagine cheaper new cars on the market might be behind

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Speaker 3: us as well.

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Speaker 9: Certainly so, Stephen, hopefully you can hear me properly now.

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Speaker 9: When we look at our ZEO to date figures, especially

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Speaker 9: for the new light vehicles, we look at about sixty

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Speaker 9: nine percent of those vehicle sales composing of imported vehicles

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Speaker 9: and then thirty one percent being of locally manufactured vehicles.

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Speaker 9: Like you mentioned that we have had new reportees, five

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Speaker 9: new Chinese making the domestic market, increasing the model deservatives

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Speaker 9: that are available, and actually eighteen percent of total new

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Speaker 9: vehicle sales are actually those that are emanating from China

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Speaker 9: as a market in particular, so that has contributed quite significantly,

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Speaker 9: also because these vehicles are coming in at a very

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Speaker 9: competitive price point, and of course even in terms of usability,

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Speaker 9: we see them selling crossover our SUVs which have a

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Speaker 9: quality of use in urban areas and of course in

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Speaker 9: the other terrains that would be outside of the urban areas,

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Speaker 9: So that has contributed quite significantly as well in terms

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Speaker 9: of our new vehicle sales performance.

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Speaker 3: You mentioned interest rates and many other economic factors. Is

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Speaker 3: the fuel price a factor in how many new cars

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Speaker 3: are bought? Because I would have thought, you know, the

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Speaker 3: fuel price when you buy a car. Isn't the fuel

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Speaker 3: price and you've had it for two years? Is it

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Speaker 3: really a factor?

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Speaker 9: I think it's more of a psychological factor. So what

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Speaker 9: happens is that it just creates one of those softens

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Speaker 9: the overall cost of vehicle ownership.

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Speaker 6: So it's not that.

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Speaker 9: Consumers necessarily would look at it and determine buying a

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Speaker 9: car in November because vehicle fuel prices were down, but

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Speaker 9: of course the effected that in terms of the long

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Speaker 9: term affordability or cost of vehicle ownership. So when we

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Speaker 9: see vehicle fuel prices going down, then we also see

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Speaker 9: consumer sentiment because that's consumer behavior actually picking up and

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Speaker 9: also driving their appetite for vehicles because consumers that they

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Speaker 9: can actually afford even to move around because there's that

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Speaker 9: reduction into your costs as well.

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Speaker 3: And doctor Paulina Mamchobo, thank you so much, Chief Economists

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Speaker 3: at the National Automobile Association of South Africa. No money show.

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Speaker 3: Tana mong Ware's a portfolio manager at Macro's at Macro

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Speaker 3: Solutions at the old mutual investment Group Tana. Good evening,

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Speaker 3: quite a big announcement from Rimgrow today they're taking over

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Speaker 3: the South African operations of medical completely.

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Speaker 11: Good evening, Steven, and good evening to your sisters. Yes,

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Speaker 11: that was actually a welcome announcement on the questionary that

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Speaker 11: they announced today because I think it does simplify the

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Speaker 11: operating the operating model, allowing them to focus on medicals

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Speaker 11: in South Africa, whereas HLC is to focus on the

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Speaker 11: Switzerland's business which they're closer to and can manage more

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Speaker 11: more closely, especially in the Conteke stuff. You know the

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Speaker 11: current environment where healthkey is becoming more complicated with reg

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Speaker 11: litary burdens and you know the cost of health care

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Speaker 11: just keeps going up while this pricing pressure as well.

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Speaker 11: So I think it just gives rim Growth that simplification

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Speaker 11: for in terms of managing their sort of African operations.

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Speaker 11: But you know they still they sort of the joint

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Speaker 11: interest in the Middle East business.

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Speaker 3: As Standard Bank a ten month update today, sort of

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Speaker 3: steady as he goes. Really, they're not changing their guidance, not.

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Speaker 11: Changing the guidance, and I think the announcement was quite expected,

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Speaker 11: but you know, started Back has had quite a good

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Speaker 11: run run this year, even if you look at it

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Speaker 11: in the context of their own and peer group and

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Speaker 11: particularly within South Africa. I mean, they keep highlighting just

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Speaker 11: improving confidence within South Africa, which we've been seeing across

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Speaker 11: across the board. But you know, they're highlighting you know,

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Speaker 11: growth in the learned book, growth in you know, investment banking.

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Speaker 11: You know, they're talking about higher customer engagements that's driving

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Speaker 11: peer revenue or non interest revenue. They're talking about you

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Speaker 11: know jaws, positive jaws in terms of revenue growth above

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Speaker 11: cost growth and just overall just you know, executing the

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Speaker 11: way they've been this year. But what's also very very

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Speaker 11: interesting over the past few years, we've we've seen this

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Speaker 11: integration of banks moving into insurance, insurance moving into banks

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Speaker 11: and instead of bank when to highlighting this update that

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Speaker 11: you know within their life business that's doing while improving

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Speaker 11: persistency and risk experiency to South Africa, and we're seeing

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Speaker 11: their shorter measurance business, but we've seen across the board

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Speaker 11: with other shorter measures in South Africa, you know, lower

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Speaker 11: claims ratios because of low natural catastrophe ves driving earning.

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Speaker 11: So overall a very good update and they've just been

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Speaker 11: executing as they've they've told us. But you know, we

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Speaker 11: look to next year in the capital markets day to

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Speaker 11: see how they reached that Roe target that they've provided.

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Speaker 3: And Parissa, I mean, you would think a Patternum group

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Speaker 3: metals producer would be doing everything they could to increase production.

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Speaker 3: Their production was slightly down.

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Speaker 11: Yeah, Unfortunately, geology and weak grades. That is just a

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Speaker 11: nature of mining.

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Speaker 12: It was.

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Speaker 11: It was a bit of a mixed results there and

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Speaker 11: overall earnings where we're low and you just have there

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Speaker 11: there are generally a more diversified miner in the precious metals,

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Speaker 11: but you have current prices coming down with production coming down,

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Speaker 11: you've got pgm's production coming down, but positively offset by

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Speaker 11: the rally we've seen in PGM prices. I mean the

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Speaker 11: previous core you spoke about strong vehicle sales and we've

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Speaker 11: seen that across the board globally, and that's also been

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Speaker 11: a with the suppash mortages a big drive of PGM

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Speaker 11: prices a year today. So a bit a bit of

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Speaker 11: a mixed bag bag over there. But it's geology and

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Speaker 11: weak and lower grades that that unfortunately does have an

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Speaker 11: impact on the results at.

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Speaker 6: The ends today.

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Speaker 3: Natana Monga, thank you so much, portfolio manager at Macro

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Speaker 3: Solutions at the old Mutual Investment Group.

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Speaker 8: What's up to be then?

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Speaker 2: Only seven two seven two one seven?

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Speaker 3: Well, can to you hear your view and whether you

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Speaker 3: think government and medical aids should be in the business

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Speaker 3: of paying for some of these weight loss drugs. They

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Speaker 3: are certainly you're seeing in other countries that people are

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Speaker 3: doing that, as I say, the World Health Organization changing

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Speaker 3: its recommendations to actually suggest that governments do do that,

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Speaker 3: that these drugs should be used for weight loss. You

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Speaker 3: look at the cost of obesity in our society, in

436
00:23:23,520 --> 00:23:26,200
Speaker 3: any society, what it leads to. I mean, I imagine

437
00:23:26,240 --> 00:23:29,200
Speaker 3: there's a link to diabetes, for example, all of these things.

438
00:23:29,200 --> 00:23:31,800
Speaker 3: If you can make a difference at the very beginning

439
00:23:31,840 --> 00:23:35,000
Speaker 3: of someone sort of becoming overweight or becoming a best rather,

440
00:23:35,720 --> 00:23:38,200
Speaker 3: you could make a huge difference over time to their life,

441
00:23:38,200 --> 00:23:39,679
Speaker 3: but also to the amount of money you'll have to

442
00:23:39,680 --> 00:23:41,760
Speaker 3: pay out as a government. It's a bit like stopping smoking,

443
00:23:42,520 --> 00:23:44,639
Speaker 3: you know, it makes a huge difference, even though it

444
00:23:44,640 --> 00:23:49,240
Speaker 3: can be a relatively small, relatively small difference at the

445
00:23:49,359 --> 00:23:52,520
Speaker 3: very beginning. I don't know you might have greater insight

446
00:23:52,560 --> 00:23:54,480
Speaker 3: into this, but something is going on in the A

447
00:23:54,600 --> 00:23:57,280
Speaker 3: and C at the moment where Joe Parker, the Deputy

448
00:23:57,320 --> 00:24:01,080
Speaker 3: Health Minister, issuing up public statement denying that he's behind

449
00:24:01,119 --> 00:24:04,280
Speaker 3: any claims of wanting to remove a president Sam of

450
00:24:04,359 --> 00:24:06,960
Speaker 3: Pausterer as leader of the ANC. There's a National General

451
00:24:07,000 --> 00:24:09,280
Speaker 3: Council in just sort of a week's time of the

452
00:24:09,280 --> 00:24:11,760
Speaker 3: A n C. There's been very little discussion about it,

453
00:24:11,800 --> 00:24:14,400
Speaker 3: but next week I think we will be talking about it.

454
00:24:14,760 --> 00:24:17,480
Speaker 3: And certainly it would seem there's some sort of rumbling

455
00:24:17,560 --> 00:24:20,479
Speaker 3: going on in there that can't quite work it out myself.

456
00:24:20,520 --> 00:24:22,959
Speaker 3: Your voice notes tonight oh seven two seven oh two

457
00:24:23,040 --> 00:24:28,320
Speaker 3: one seven O two seven two email.

458
00:24:28,000 --> 00:24:30,320
Speaker 2: Him on Stephen at seven.

459
00:24:30,080 --> 00:24:33,080
Speaker 3: O two dot co dot z just gone accord it

460
00:24:33,119 --> 00:24:35,760
Speaker 3: to seven Good Evening. The ABS are Purchasing Managers Index

461
00:24:35,880 --> 00:24:39,399
Speaker 3: dropping significantly in November. Export sales a week are the

462
00:24:39,480 --> 00:24:43,600
Speaker 3: purchasing price index down too, meaning manufacturers might have slightly

463
00:24:43,640 --> 00:24:47,119
Speaker 3: lower cost. Cello Sekele is an economist at Abscess sell

464
00:24:47,240 --> 00:24:50,119
Speaker 3: or Good Evening. What were the main drivers behind a

465
00:24:50,240 --> 00:24:53,200
Speaker 3: lower Purchasing Managers index? What pushed it down. It seems

466
00:24:53,240 --> 00:24:53,800
Speaker 3: quite jobly.

467
00:24:55,200 --> 00:24:59,400
Speaker 6: Yeah, thank you for having me. So the main drivers

468
00:24:59,560 --> 00:25:02,560
Speaker 6: were in the main So the index is made up

469
00:25:02,600 --> 00:25:07,280
Speaker 6: of five sub industes, but we saw four drop. But

470
00:25:08,400 --> 00:25:11,560
Speaker 6: the story is in the two sub industries that fell.

471
00:25:12,160 --> 00:25:16,720
Speaker 6: So we saw new sales orders, which measures demand, fall

472
00:25:16,880 --> 00:25:20,960
Speaker 6: quite sharply. And then you look closer at the data.

473
00:25:21,960 --> 00:25:27,080
Speaker 6: As we have seen recently, the expert side of demand

474
00:25:27,240 --> 00:25:30,920
Speaker 6: has been quite weak and weak. But this time I

475
00:25:31,320 --> 00:25:34,600
Speaker 6: looked like the main decline came from the domestic market.

476
00:25:35,200 --> 00:25:39,440
Speaker 6: And then the other index that fell sharply, it's output.

477
00:25:39,680 --> 00:25:43,840
Speaker 6: So as demand falls, output turns to fall. So those

478
00:25:43,880 --> 00:25:48,320
Speaker 6: are the two travers that led to a lower PMI number.

479
00:25:48,600 --> 00:25:51,159
Speaker 3: The new sales order index was down as well. I mean,

480
00:25:51,160 --> 00:25:53,000
Speaker 3: that's quite a strong symptom of what seems to be

481
00:25:53,080 --> 00:25:53,440
Speaker 3: going on.

482
00:25:54,840 --> 00:25:57,680
Speaker 6: Yeah, so that's exactly what I said. So the new

483
00:25:57,720 --> 00:26:01,280
Speaker 6: cells orders is measures mean the demand, and that's where

484
00:26:01,320 --> 00:26:05,040
Speaker 6: we saw the main the main top I mean, the

485
00:26:05,119 --> 00:26:09,840
Speaker 6: way it fell, it took the headline PM two levels

486
00:26:09,880 --> 00:26:13,240
Speaker 6: that we lost saw in COVID nineteen terms. So it

487
00:26:13,359 --> 00:26:16,360
Speaker 6: just goes to show how weak business conditions have been

488
00:26:16,400 --> 00:26:17,679
Speaker 6: in the manufacture sector.

489
00:26:18,600 --> 00:26:21,879
Speaker 3: People are expecting business conditions to improve. I mean, I

490
00:26:22,000 --> 00:26:24,800
Speaker 3: seem actually a bit more optimistic than what the numbers

491
00:26:24,840 --> 00:26:25,520
Speaker 3: tell us.

492
00:26:26,800 --> 00:26:32,040
Speaker 6: Yeah, so people are expecting business conditions to improve, but

493
00:26:32,160 --> 00:26:35,720
Speaker 6: it looks like they have not yet improved, because what

494
00:26:36,160 --> 00:26:39,640
Speaker 6: the per my measures is not sentiment but what's actually

495
00:26:39,680 --> 00:26:43,840
Speaker 6: happening in the ground. So the way the PM is

496
00:26:43,880 --> 00:26:47,080
Speaker 6: serving structure decided that it's evidence based.

497
00:26:48,240 --> 00:26:50,960
Speaker 3: I mean, and then you've also got employment that seems

498
00:26:50,960 --> 00:26:53,120
Speaker 3: to be taking slightly high, and I'm a bit surprised

499
00:26:53,119 --> 00:26:55,360
Speaker 3: to see that when when so many of the other

500
00:26:55,440 --> 00:26:58,320
Speaker 3: indices are heading lower, you wouldn't think employment would be

501
00:26:58,320 --> 00:26:59,000
Speaker 3: going up at all.

502
00:27:00,080 --> 00:27:04,560
Speaker 6: Yeah, good observation, Stevens. So here I want to say that, yes,

503
00:27:04,680 --> 00:27:09,000
Speaker 6: employment went up, the induct went up, but it remained

504
00:27:09,040 --> 00:27:12,080
Speaker 6: below the fifty neutral level. So what that shows us

505
00:27:12,119 --> 00:27:16,400
Speaker 6: is that employment actually continue to fo at bio slower rate.

506
00:27:16,640 --> 00:27:20,120
Speaker 6: So the employment story still remains quite cleik.

507
00:27:21,080 --> 00:27:22,840
Speaker 3: So no, I mean, if we look at all the

508
00:27:22,880 --> 00:27:24,960
Speaker 3: information we've seen around us, there's been a lot of

509
00:27:25,000 --> 00:27:28,720
Speaker 3: sort of headlines, Look, we've had good news array. I

510
00:27:28,760 --> 00:27:30,639
Speaker 3: think in a way, your survey is taking some of

511
00:27:30,640 --> 00:27:33,920
Speaker 3: the glass off of that. But it would also explain

512
00:27:34,040 --> 00:27:36,439
Speaker 3: once again why our growth is so low and probably

513
00:27:36,480 --> 00:27:37,719
Speaker 3: the seer less than one percent.

514
00:27:39,240 --> 00:27:43,960
Speaker 6: Yeah, I mean because of exactly things like weak business

515
00:27:44,000 --> 00:27:47,480
Speaker 6: conditions as well as weak business confidence. So we've seen

516
00:27:48,000 --> 00:27:51,840
Speaker 6: our investment numbers not are doing well, especially you know,

517
00:27:51,880 --> 00:27:54,840
Speaker 6: on the private side as well. For this day, we're

518
00:27:54,840 --> 00:27:58,520
Speaker 6: looking at investment numbers that are in the negative. So

519
00:27:58,560 --> 00:28:02,920
Speaker 6: that's why we have in this one grows. But for us,

520
00:28:02,960 --> 00:28:05,720
Speaker 6: as we think that growth will be a bit better,

521
00:28:05,720 --> 00:28:08,119
Speaker 6: such as over one percent at one point three percent,

522
00:28:08,760 --> 00:28:11,439
Speaker 6: and then going forward, that's why we are quite polish

523
00:28:11,480 --> 00:28:16,200
Speaker 6: about growth as investment starts to improve at the back

524
00:28:16,280 --> 00:28:18,760
Speaker 6: of improving the sentiment.

525
00:28:19,920 --> 00:28:22,840
Speaker 3: I mean, it's not related to your survey much, but

526
00:28:23,280 --> 00:28:25,040
Speaker 3: there does seem to be a little bit of evidence

527
00:28:25,080 --> 00:28:27,400
Speaker 3: that construction is changing. There are lot more people being

528
00:28:27,400 --> 00:28:30,320
Speaker 3: employed in construction. You would think that if we build

529
00:28:30,320 --> 00:28:32,520
Speaker 3: that infrastructure, there will be not going to affect from

530
00:28:32,560 --> 00:28:35,960
Speaker 3: the build that will lead to all sorts of changes

531
00:28:36,440 --> 00:28:38,600
Speaker 3: that might one day be picked up by your survey.

532
00:28:40,840 --> 00:28:41,160
Speaker 12: Yeah.

533
00:28:41,200 --> 00:28:43,760
Speaker 6: So you know, when you talk about construction, I mean

534
00:28:43,840 --> 00:28:47,680
Speaker 6: that's one of the sectors that have been really weak

535
00:28:47,840 --> 00:28:51,400
Speaker 6: and that have really struggled to recover from the COVID

536
00:28:51,480 --> 00:28:55,480
Speaker 6: nineteen lockdowns, so you know that the issues then I

537
00:28:55,560 --> 00:28:58,080
Speaker 6: mean and then one it has to do with construction

538
00:28:58,200 --> 00:29:01,280
Speaker 6: mafias right, so it looks like the loan and all

539
00:29:01,400 --> 00:29:05,560
Speaker 6: the issue is also showing up here. So the way

540
00:29:06,400 --> 00:29:09,440
Speaker 6: the manufacturer in the side is it has backward and

541
00:29:09,560 --> 00:29:14,720
Speaker 6: forward linkages. So even the improvement in construction, you will

542
00:29:14,760 --> 00:29:19,040
Speaker 6: also see the manufacture across manufactures minisecture for for the

543
00:29:19,200 --> 00:29:22,160
Speaker 6: contraction times as well. So that's why we like to

544
00:29:22,240 --> 00:29:28,200
Speaker 6: type this sector because executive these forward and the quad linkages.

545
00:29:28,960 --> 00:29:31,000
Speaker 3: So thank you very much, indeed for the time. Slo

546
00:29:31,040 --> 00:29:34,280
Speaker 3: so Kell is an economist at as ten minutes now

547
00:29:34,320 --> 00:29:36,400
Speaker 3: to seven. How are you feeling about your industry at

548
00:29:36,400 --> 00:29:38,920
Speaker 3: the moment? Thinks looking up? I think still looking a

549
00:29:38,920 --> 00:29:43,200
Speaker 3: bit down? Are things looking on? The twenty twenty ish still.

550
00:29:44,880 --> 00:29:47,400
Speaker 13: The money show Steel Protest is brought to you by

551
00:29:47,480 --> 00:29:52,440
Speaker 13: Abscess CIV. Discover the latest trends shaping digital assets across Africa.

552
00:29:52,760 --> 00:29:56,640
Speaker 13: Download the APSU Africa Digital Assets Insights twenty twenty five.

553
00:30:01,080 --> 00:30:04,720
Speaker 3: Eight minutes now to seven the time Well Discovery Life

554
00:30:04,760 --> 00:30:07,480
Speaker 3: celebrating their twenty five years of existence. And if you

555
00:30:07,520 --> 00:30:10,560
Speaker 3: think about how the life insurance business was in the

556
00:30:10,640 --> 00:30:13,520
Speaker 3: year two thousand and how it is now, I imagine

557
00:30:13,520 --> 00:30:17,080
Speaker 3: they're very, very different things. Gareth Friedlander is the Deputy

558
00:30:17,080 --> 00:30:20,000
Speaker 3: CEO of Discovery Life. Gareth good evening a lot of

559
00:30:20,040 --> 00:30:22,640
Speaker 3: innovation over the last twenty five years. I mean your

560
00:30:22,640 --> 00:30:24,960
Speaker 3: industry has changed, I think almost fundamentally.

561
00:30:26,520 --> 00:30:29,320
Speaker 14: Hi, Steven, Yes, thanks for having me here. It certainly

562
00:30:29,320 --> 00:30:32,400
Speaker 14: has been a journey over twenty five years, and the

563
00:30:32,480 --> 00:30:36,440
Speaker 14: whole industry has transformed, I think dramatically over that period

564
00:30:36,440 --> 00:30:39,800
Speaker 14: of time. We really have seen tremendous innovation in the

565
00:30:39,880 --> 00:30:43,920
Speaker 14: South African insurance industry and largely to the benefit of consumers.

566
00:30:44,240 --> 00:30:46,880
Speaker 3: What do you think the biggest changes have been. I mean,

567
00:30:47,040 --> 00:30:49,760
Speaker 3: you are still managing money, and you are managing money

568
00:30:49,760 --> 00:30:52,320
Speaker 3: in the in case of events, but the way in

569
00:30:52,360 --> 00:30:54,080
Speaker 3: which you manage money has changed.

570
00:30:55,240 --> 00:30:57,520
Speaker 14: Yeah. I think one of the biggest changes came when

571
00:30:57,520 --> 00:31:00,600
Speaker 14: we entered the market back in two thousand and we

572
00:31:00,800 --> 00:31:04,680
Speaker 14: kind of separated out the old traditional universal life type

573
00:31:04,720 --> 00:31:08,520
Speaker 14: policies that combined kind of risk with investment, and we

574
00:31:08,640 --> 00:31:13,640
Speaker 14: separated it out into this very efficient risk only product

575
00:31:13,720 --> 00:31:17,000
Speaker 14: and that kind of saved thirty percent of the premium

576
00:31:17,160 --> 00:31:20,400
Speaker 14: for the consumer. Pretty much the whole industry moved to

577
00:31:20,480 --> 00:31:23,480
Speaker 14: these new generation products over the next two or three years.

578
00:31:23,520 --> 00:31:26,640
Speaker 14: So I think that's just one of the big innovations.

579
00:31:26,680 --> 00:31:29,760
Speaker 14: And then I guess the real game changer for us

580
00:31:29,800 --> 00:31:33,520
Speaker 14: as a business came with the whole vitality concept and

581
00:31:33,920 --> 00:31:37,040
Speaker 14: what we now call the shared value insurance model and

582
00:31:37,080 --> 00:31:41,800
Speaker 14: really just understanding how to change people's behavior to incentivize

583
00:31:42,080 --> 00:31:46,920
Speaker 14: healthier kind of outcomes and positive behavior change in consumers

584
00:31:47,040 --> 00:31:51,320
Speaker 14: and turning that into money literally, and that's been something

585
00:31:51,360 --> 00:31:53,080
Speaker 14: that we've been able to do very successfully.

586
00:31:53,200 --> 00:31:55,560
Speaker 3: I'm frankly always amazed at what someone will do for

587
00:31:55,600 --> 00:31:58,000
Speaker 3: a cappuccino. I mean, it's a cappuccino, for goodness sake,

588
00:31:59,040 --> 00:32:01,400
Speaker 3: and yet it has become I mean it's I think

589
00:32:01,440 --> 00:32:03,480
Speaker 3: the way that business is going to be done is

590
00:32:03,520 --> 00:32:06,120
Speaker 3: the way that people are going to sort of, you know,

591
00:32:06,160 --> 00:32:08,280
Speaker 3: companies are going to manage their risk. It's the way

592
00:32:08,320 --> 00:32:10,520
Speaker 3: that people are going to manage their lives. I mean

593
00:32:10,520 --> 00:32:11,840
Speaker 3: it's a fascinating change.

594
00:32:13,160 --> 00:32:18,200
Speaker 14: Yeah, I think it's so intuitive, right. Insurance is no

595
00:32:18,280 --> 00:32:20,640
Speaker 14: longer a world where you just are there with a

596
00:32:20,680 --> 00:32:23,200
Speaker 14: bunch of actories to try and determine what the risk is.

597
00:32:23,920 --> 00:32:25,920
Speaker 14: The world's you know, come a long way from that,

598
00:32:25,960 --> 00:32:28,920
Speaker 14: and it makes sense to try and help people change

599
00:32:28,920 --> 00:32:32,239
Speaker 14: their risk and you know, improve their outcomes and their

600
00:32:32,280 --> 00:32:35,000
Speaker 14: risks and their health and wellness, and you can you

601
00:32:35,040 --> 00:32:38,080
Speaker 14: can actually create money in the system that never previously

602
00:32:38,120 --> 00:32:42,640
Speaker 14: existed when you do that effectively. And obviously, you know,

603
00:32:42,680 --> 00:32:45,560
Speaker 14: in the world of big data and AI and where

604
00:32:45,600 --> 00:32:49,200
Speaker 14: we're going from a kind of global industry perspective, I

605
00:32:49,200 --> 00:32:50,760
Speaker 14: think the opportunity is even greater.

606
00:32:51,680 --> 00:32:55,120
Speaker 3: Do you think that over time in sort of real terms,

607
00:32:55,160 --> 00:33:00,200
Speaker 3: that's made life insurance premiums cheaper for people? Overall, it's

608
00:33:00,240 --> 00:33:01,680
Speaker 3: actually a cheaper product than it was.

609
00:33:03,160 --> 00:33:05,719
Speaker 14: Certainly we've seen that, you know, first year, the efficiency

610
00:33:05,800 --> 00:33:09,040
Speaker 14: created by kind of separating out risks from investment. We

611
00:33:09,080 --> 00:33:12,480
Speaker 14: expect that that was about a thirty percent reduction in

612
00:33:12,880 --> 00:33:15,320
Speaker 14: kind of the base premium. But then on top of that,

613
00:33:15,440 --> 00:33:18,640
Speaker 14: we know that for our clients who engage in health

614
00:33:18,640 --> 00:33:22,240
Speaker 14: and wellness, and we obviously measure that by their vitality status,

615
00:33:22,680 --> 00:33:25,280
Speaker 14: we see that the clients who are most engaged have

616
00:33:25,360 --> 00:33:29,440
Speaker 14: about a fifty seven percent lower mortality rate compared to

617
00:33:29,440 --> 00:33:30,320
Speaker 14: clients who aren't on.

618
00:33:30,280 --> 00:33:33,360
Speaker 12: The program or who aren't engaging in the program. That's massive.

619
00:33:33,400 --> 00:33:37,520
Speaker 14: That's more than halving your death rates each year through

620
00:33:38,160 --> 00:33:41,680
Speaker 14: you know, consistent behavior change, and that unknocks money in

621
00:33:41,720 --> 00:33:44,440
Speaker 14: the system, that creates paybacks that you can pay to

622
00:33:44,520 --> 00:33:47,360
Speaker 14: clients or cheaper premiums for clients. You know, you can

623
00:33:47,400 --> 00:33:49,920
Speaker 14: actually see the ends and sense coming through. It was

624
00:33:49,960 --> 00:33:53,480
Speaker 14: two point four billion round paid through shared value benefits

625
00:33:53,480 --> 00:33:57,080
Speaker 14: for clients looking after their health and wellness last year alone.

626
00:33:57,120 --> 00:34:00,360
Speaker 14: So life insurance paradigm has shifted a little, but from

627
00:34:00,400 --> 00:34:03,080
Speaker 14: something that only pays out when you die to something

628
00:34:03,080 --> 00:34:05,560
Speaker 14: that now can start to pay out during your lifetime

629
00:34:05,840 --> 00:34:07,040
Speaker 14: on good events as well.

630
00:34:08,640 --> 00:34:11,760
Speaker 3: You say, the protection gap is getting wider, In other words,

631
00:34:12,840 --> 00:34:15,719
Speaker 3: fewer of us as a percentage or protected. We're not

632
00:34:15,760 --> 00:34:18,360
Speaker 3: as protected as we used to be. What's changing. Is

633
00:34:18,400 --> 00:34:20,319
Speaker 3: it just because of a tough economy and people are

634
00:34:20,320 --> 00:34:23,200
Speaker 3: putting their money into something else, or it just sort

635
00:34:23,200 --> 00:34:25,240
Speaker 3: of goes a little bit further down the list.

636
00:34:26,640 --> 00:34:30,640
Speaker 14: Yeah, we did see the ACESA gap study released last

637
00:34:30,680 --> 00:34:34,760
Speaker 14: month and an insurance gap item to over fifty trillion

638
00:34:35,200 --> 00:34:38,759
Speaker 14: to the crazy number, up from thirty five trillion three

639
00:34:38,840 --> 00:34:41,200
Speaker 14: years prior, so kind of a twelve and a half

640
00:34:41,239 --> 00:34:44,560
Speaker 14: percent annual growth rates, which is a little bit a

641
00:34:44,600 --> 00:34:47,120
Speaker 14: little bit scary to see. Not all of it is

642
00:34:47,200 --> 00:34:48,360
Speaker 14: necessarily bad.

643
00:34:48,520 --> 00:34:48,759
Speaker 8: You know.

644
00:34:50,560 --> 00:34:53,600
Speaker 14: Part of what determines that gap is having earners and

645
00:34:53,680 --> 00:34:57,160
Speaker 14: having people. When you earn an income, you need insurance

646
00:34:57,360 --> 00:34:59,759
Speaker 14: to replace that income. So you know, some of it

647
00:35:00,080 --> 00:35:03,640
Speaker 14: from a little bit of growth ironically, but yeah, to

648
00:35:03,680 --> 00:35:07,600
Speaker 14: a large extent, it's just clients not having sufficient cover

649
00:35:07,800 --> 00:35:10,799
Speaker 14: to you know, leave enough behind for their loved ones

650
00:35:10,840 --> 00:35:13,680
Speaker 14: and the events of death or disability. We see that

651
00:35:13,760 --> 00:35:17,000
Speaker 14: on average, so Africans have about thirty nine percent of

652
00:35:17,040 --> 00:35:20,440
Speaker 14: what they need, so there's like a sixty one insurance

653
00:35:20,480 --> 00:35:20,959
Speaker 14: gap there.

654
00:35:21,440 --> 00:35:23,279
Speaker 3: I mean, I have to say I don't see that

655
00:35:23,440 --> 00:35:26,879
Speaker 3: changing for years, simply because you know, so many people

656
00:35:26,960 --> 00:35:29,720
Speaker 3: are just getting by, and yes they want to do things.

657
00:35:30,000 --> 00:35:32,360
Speaker 3: They obviously want to leave something for the people they

658
00:35:32,440 --> 00:35:35,399
Speaker 3: might leave behind. They just don't have the means. Where

659
00:35:35,400 --> 00:35:37,640
Speaker 3: that's slightly different is what people will pay for, and

660
00:35:37,680 --> 00:35:39,440
Speaker 3: what they do pay for is funeral insurance.

661
00:35:41,400 --> 00:35:44,799
Speaker 14: Yeah, that's right, and it it's such a difficult thing

662
00:35:44,880 --> 00:35:47,759
Speaker 14: to change in terms of as you say, you're dealing

663
00:35:47,840 --> 00:35:52,759
Speaker 14: with an end consumer who is already stretched dramatically. I

664
00:35:52,800 --> 00:35:56,720
Speaker 14: think the thing to keep in mind is it's much

665
00:35:56,800 --> 00:35:59,239
Speaker 14: easier to try to close the gap now before the

666
00:35:59,360 --> 00:36:02,600
Speaker 14: event then afterwards, you know, if the event happens to

667
00:36:02,640 --> 00:36:06,080
Speaker 14: the family, you've somehow got to find an extra income

668
00:36:06,400 --> 00:36:08,600
Speaker 14: through almost impossible at that point in time, or cut

669
00:36:08,680 --> 00:36:11,799
Speaker 14: your living expenses as opposed to spending a little bit

670
00:36:11,840 --> 00:36:13,960
Speaker 14: more each month. I know it's easy to say, I'm

671
00:36:13,960 --> 00:36:17,040
Speaker 14: not always easy to do, but it's actually not that

672
00:36:17,200 --> 00:36:20,080
Speaker 14: difficult in terms of percentage terms. If we think ahead

673
00:36:20,080 --> 00:36:21,680
Speaker 14: and plan properly.

674
00:36:21,719 --> 00:36:24,200
Speaker 12: From an insurance perspective, we're.

675
00:36:24,040 --> 00:36:28,080
Speaker 3: Seeing a lot happen in the insurance ecosystem. Do you

676
00:36:28,200 --> 00:36:31,640
Speaker 3: see more cover being becoming available for more people at

677
00:36:31,680 --> 00:36:34,440
Speaker 3: the cheaper price? I mean, I think the sort of

678
00:36:34,520 --> 00:36:36,640
Speaker 3: efficiencies that have been built into the system or that

679
00:36:36,680 --> 00:36:37,719
Speaker 3: process continue.

680
00:36:39,400 --> 00:36:42,920
Speaker 14: Yeah, I'm hopeful that at all. I think the digitization,

681
00:36:44,719 --> 00:36:47,880
Speaker 14: you know, the onset of technology and where AI is

682
00:36:47,960 --> 00:36:54,759
Speaker 14: going should help make accessibility to insurance slightly easier. You know,

683
00:36:54,800 --> 00:36:57,239
Speaker 14: I think we've made strides as an industry and kind

684
00:36:57,239 --> 00:37:00,319
Speaker 14: of bringing that price down as much as we can can.

685
00:37:01,440 --> 00:37:04,120
Speaker 14: And you know, ultimately, I think the best way to

686
00:37:04,120 --> 00:37:08,800
Speaker 14: bring that pass down is really with methods that focus

687
00:37:08,920 --> 00:37:12,200
Speaker 14: in on reducing risks for individuals and creating their ability

688
00:37:12,239 --> 00:37:16,040
Speaker 14: to kind of change that as we've as you know,

689
00:37:16,080 --> 00:37:18,600
Speaker 14: as I mentioned, with the kind of shared value approach.

690
00:37:19,040 --> 00:37:23,720
Speaker 3: Gareth Friedlander, thanks very much, indeed the WCO of Discovery Life.

691
00:37:23,880 --> 00:37:26,280
Speaker 3: In a moment, we'll talk about what's happened to bitcoin.

692
00:37:26,320 --> 00:37:28,799
Speaker 3: It really is seems to be not quite falling off

693
00:37:28,800 --> 00:37:32,120
Speaker 3: a cliff, but certainly going downhill fast for the moment,

694
00:37:32,280 --> 00:37:34,080
Speaker 3: and don't forget how I make my money. Tonight the

695
00:37:34,080 --> 00:37:36,839
Speaker 3: comedian of Aafa Naraghi you with the Money Show.

696
00:37:36,880 --> 00:37:41,760
Speaker 1: It's seven o'clock and now The Money Show with Stephen

697
00:37:41,840 --> 00:37:43,719
Speaker 1: Scribers on seven o two.

698
00:37:44,239 --> 00:37:45,200
Speaker 2: Let's walk at all.

699
00:37:45,520 --> 00:37:47,600
Speaker 3: The Money Show with Stephen Crtis is brought to you

700
00:37:47,640 --> 00:37:51,720
Speaker 3: by Abscess cib Discover the latest trends shaping digital assets

701
00:37:51,760 --> 00:37:56,280
Speaker 3: across Africa. Download the as Africa Digital Assets Insights twenty

702
00:37:56,400 --> 00:37:59,680
Speaker 3: twenty five. Good evening, I'm Stephen Curtis. Six minutes after

703
00:38:00,000 --> 00:38:02,400
Speaker 3: even the time we talk about bitcoin. In a moment,

704
00:38:02,840 --> 00:38:05,320
Speaker 3: everything seemed to be going right for bitcoin and yet

705
00:38:05,840 --> 00:38:08,600
Speaker 3: it's really had a month of sustained losses again today

706
00:38:09,120 --> 00:38:11,960
Speaker 3: quite dramatically. We'll talk about that in a moment. We

707
00:38:11,960 --> 00:38:14,560
Speaker 3: will also look at the World of Books. Now we'll

708
00:38:14,560 --> 00:38:18,080
Speaker 3: speak to Ian Mann. The book is anointed The Extraordinary

709
00:38:18,080 --> 00:38:21,920
Speaker 3: Effects of Social Status in a Winner Take Most World

710
00:38:22,360 --> 00:38:26,399
Speaker 3: by Toby Stewart. Interesting conversations there and then also How

711
00:38:26,440 --> 00:38:29,640
Speaker 3: I make my money tonight of Afa Narraghi. He started

712
00:38:29,640 --> 00:38:33,600
Speaker 3: out as a civil engineer. He's now a comedian. I've

713
00:38:33,640 --> 00:38:35,319
Speaker 3: got to tell you, I've heard of some short lifts

714
00:38:35,320 --> 00:38:36,680
Speaker 3: in my life, but that's one of them. I mean,

715
00:38:36,719 --> 00:38:40,279
Speaker 3: that's a real right turn if you get it, and

716
00:38:40,480 --> 00:38:42,360
Speaker 3: I mean a very much a change in direction to

717
00:38:42,400 --> 00:38:45,000
Speaker 3: go from one of those things to the other to comedy.

718
00:38:45,360 --> 00:38:47,080
Speaker 3: One of the questions I want to ask is how

719
00:38:47,080 --> 00:38:48,080
Speaker 3: difficult is comedy?

720
00:38:48,160 --> 00:38:48,480
Speaker 8: Rarely?

721
00:38:48,840 --> 00:38:51,799
Speaker 3: In other words, can you, you know, under pressure, tell

722
00:38:51,800 --> 00:38:53,680
Speaker 3: a joke in thirty seconds or that sort of thing?

723
00:38:53,960 --> 00:38:56,920
Speaker 3: I know there are plenty of people who can do that. Sometimes.

724
00:38:57,000 --> 00:38:59,080
Speaker 3: Wonder also to go up on stage when you're not

725
00:38:59,200 --> 00:39:02,920
Speaker 3: really in the mood. I do wonder how hard that is?

726
00:39:03,160 --> 00:39:05,439
Speaker 3: Oh double one double A three oh seven two two

727
00:39:05,440 --> 00:39:07,399
Speaker 3: one four four six o five six seven and voice

728
00:39:07,440 --> 00:39:09,879
Speaker 3: notes of course on seven two seven oh two one

729
00:39:09,960 --> 00:39:10,600
Speaker 3: seven oh two.

730
00:39:11,360 --> 00:39:15,239
Speaker 4: The Lonely Show with Stephen Krudis Live on ninety two

731
00:39:15,320 --> 00:39:18,680
Speaker 4: point seven and one six FM streaming on the Prime

732
00:39:18,719 --> 00:39:19,480
Speaker 4: Media Plus.

733
00:39:19,320 --> 00:39:22,280
Speaker 2: NAP and DStv channel eight five six.

734
00:39:22,440 --> 00:39:25,840
Speaker 3: More developments this afternoon. E Wnben reporting on the situation

735
00:39:25,920 --> 00:39:28,960
Speaker 3: in a conto with Sizween. On Friday last week, the

736
00:39:29,040 --> 00:39:33,040
Speaker 3: Uzilla Zuma san Bordler resigned. She of course is facing

737
00:39:33,719 --> 00:39:35,400
Speaker 3: she hasn't been charged yet as far as I know,

738
00:39:35,760 --> 00:39:39,399
Speaker 3: but facing claims. She is facing claims. Let me put

739
00:39:39,400 --> 00:39:43,960
Speaker 3: it like this, rather that she was facilitating paying people

740
00:39:44,000 --> 00:39:48,120
Speaker 3: people being paid to go to Russia to fight against Ukraine.

741
00:39:48,400 --> 00:39:50,680
Speaker 3: And of course there was another case which seems to

742
00:39:50,719 --> 00:39:53,920
Speaker 3: me to be unrelated at this point that happened today,

743
00:39:54,160 --> 00:39:57,320
Speaker 3: but she resigned last week. Then Lucky Montana has resigned

744
00:39:57,600 --> 00:40:00,319
Speaker 3: as an MP today and of course, once again no

745
00:40:00,440 --> 00:40:03,120
Speaker 3: context really given. What we do know is that he

746
00:40:03,160 --> 00:40:06,000
Speaker 3: faces all of that action by SARS, and from what

747
00:40:06,080 --> 00:40:08,440
Speaker 3: we can see, SARS they've gone public to have a

748
00:40:08,520 --> 00:40:12,799
Speaker 3: very strong case against some He denies wrongdoing, but it

749
00:40:12,840 --> 00:40:15,319
Speaker 3: does make me just wonder what is going on when

750
00:40:15,400 --> 00:40:17,760
Speaker 3: so few people are able to speak up to defend

751
00:40:17,760 --> 00:40:21,640
Speaker 3: the organization. As spokesperson is often very professional, You've heard

752
00:40:21,640 --> 00:40:25,080
Speaker 3: from him many many times, but it just seem that

753
00:40:25,120 --> 00:40:27,080
Speaker 3: there are issues with the caucus and who do you

754
00:40:27,080 --> 00:40:29,960
Speaker 3: get to replace these two people. There's so many questions

755
00:40:29,960 --> 00:40:32,719
Speaker 3: about what's going on in MK and MK. You know,

756
00:40:33,080 --> 00:40:35,719
Speaker 3: you might not agree with what they say, you might

757
00:40:35,760 --> 00:40:38,600
Speaker 3: not like their leader, whatever, but it does matter. It

758
00:40:38,719 --> 00:40:41,040
Speaker 3: is the third biggest party in Parliament. I mean, it

759
00:40:41,160 --> 00:40:44,160
Speaker 3: is an important thing. There are the official Opposition because

760
00:40:44,200 --> 00:40:47,200
Speaker 3: the DA of course is in the coalition, the National Coalition.

761
00:40:47,560 --> 00:40:50,040
Speaker 3: It does matter. You do need a strong opposition to

762
00:40:50,120 --> 00:40:52,840
Speaker 3: ask questions of the government, whether you like the government

763
00:40:53,000 --> 00:40:54,759
Speaker 3: or not. That is what you need. And I do

764
00:40:54,920 --> 00:40:57,600
Speaker 3: worry that we don't quite have that at the moment.

765
00:40:57,640 --> 00:41:01,040
Speaker 3: So when I see things happening within any MK and

766
00:41:01,080 --> 00:41:03,800
Speaker 3: some of the other opposition parties, parties not in the coalition,

767
00:41:04,080 --> 00:41:06,560
Speaker 3: it weekends governance and I don't think we think about

768
00:41:06,560 --> 00:41:09,480
Speaker 3: that point enough. Voice notes on seven two seven oh

769
00:41:09,560 --> 00:41:11,239
Speaker 3: two one seven o two The.

770
00:41:11,360 --> 00:41:16,520
Speaker 4: Money Show on seven Monday to Friday, six to a pm.

771
00:41:16,719 --> 00:41:20,360
Speaker 3: Well, Bitcoin suffering another major fall in value today this morning.

772
00:41:20,360 --> 00:41:22,759
Speaker 3: It was down by six percent in the last month.

773
00:41:22,800 --> 00:41:26,120
Speaker 3: It's last more than eighteen thousand dollars in value, satas

774
00:41:26,160 --> 00:41:29,160
Speaker 3: biggest dollar loss over a month since May and twenty

775
00:41:29,280 --> 00:41:33,080
Speaker 3: twenty one. Carl Diache is the research lead for blockchain

776
00:41:33,120 --> 00:41:37,120
Speaker 3: Technology at the CSI. Carl Good evening, what's driving this

777
00:41:37,280 --> 00:41:40,560
Speaker 3: huge fall. It's not just Bitcoin, it's other cryptocurrencies as.

778
00:41:40,480 --> 00:41:44,120
Speaker 15: Well, Hi, Stephen, Yeah, so, actually, you know, since bitcoin

779
00:41:44,160 --> 00:41:45,120
Speaker 15: actually crossed.

780
00:41:44,800 --> 00:41:47,000
Speaker 8: One hundred thousand dollars to the northern.

781
00:41:46,680 --> 00:41:50,000
Speaker 15: Side, actually we saw lots of wales and wales is

782
00:41:50,320 --> 00:41:53,040
Speaker 15: a crypto term that we we coined it, you know,

783
00:41:53,080 --> 00:41:55,840
Speaker 15: for people that's been holding bitcoin for many years, So

784
00:41:55,880 --> 00:41:58,120
Speaker 15: they bought thousands of bootcoin back in the day.

785
00:41:58,520 --> 00:42:01,480
Speaker 12: They've actually kind of woken up and started selling.

786
00:42:01,200 --> 00:42:04,640
Speaker 15: Heavily into the market at about one hundred thousand. That's

787
00:42:04,640 --> 00:42:08,120
Speaker 15: why we've seen lots of resistance. But short more, in

788
00:42:08,160 --> 00:42:11,600
Speaker 15: the short term, what's happened recently is that Bitquin's pin

789
00:42:11,719 --> 00:42:16,319
Speaker 15: under significant pressure since an announcement that came out in

790
00:42:16,360 --> 00:42:20,640
Speaker 15: mid October, which is that a popular US investment index

791
00:42:20,719 --> 00:42:26,800
Speaker 15: called MSCI actually removed or is considering to remove micro

792
00:42:26,920 --> 00:42:30,560
Speaker 15: Strategy from their index. Now, if they do that, and

793
00:42:30,600 --> 00:42:33,720
Speaker 15: that decision, by the way, is expected in fifteen January

794
00:42:33,760 --> 00:42:37,360
Speaker 15: next year, if they do that, then there is a

795
00:42:37,480 --> 00:42:41,960
Speaker 15: high possibility that micro Strategy would be forced to offload

796
00:42:42,040 --> 00:42:43,799
Speaker 15: and sell some of its bitcoin, and we know that

797
00:42:43,840 --> 00:42:46,520
Speaker 15: micro strategy is systemic in the bitcoin market. They own

798
00:42:46,640 --> 00:42:48,919
Speaker 15: more than six hundred thousand coins, which is almost five

799
00:42:48,920 --> 00:42:53,239
Speaker 15: percent of the total supply, so that would be quite

800
00:42:53,280 --> 00:42:55,960
Speaker 15: significant for the market. And there's so much fear now

801
00:42:56,560 --> 00:42:59,640
Speaker 15: at this point that any news like that is just

802
00:42:59,800 --> 00:43:01,720
Speaker 15: it's just extremely bad for the price.

803
00:43:02,400 --> 00:43:06,240
Speaker 3: Micro strategy that if I recall and Carl you the expert,

804
00:43:06,320 --> 00:43:08,880
Speaker 3: not me, their main aim in life is actually to

805
00:43:08,920 --> 00:43:12,280
Speaker 3: own bitcoin. That's what they do. That's where their value

806
00:43:12,320 --> 00:43:13,719
Speaker 3: comes from. And if they have to say that they'll

807
00:43:13,719 --> 00:43:14,960
Speaker 3: be reducing their own value.

808
00:43:16,280 --> 00:43:19,840
Speaker 15: Well, the thing is, there's a metric called the mp

809
00:43:20,000 --> 00:43:22,480
Speaker 15: and the m naph is a measure of how much

810
00:43:22,520 --> 00:43:26,360
Speaker 15: bitcoin the company actually owns in relation to its market capitalization.

811
00:43:26,880 --> 00:43:28,839
Speaker 15: So when that is one, then it means that they're

812
00:43:28,920 --> 00:43:31,719
Speaker 15: underlying the net asset value in bitcoin is moral, it's

813
00:43:31,760 --> 00:43:34,239
Speaker 15: the same as all of the or you know, the

814
00:43:34,239 --> 00:43:38,200
Speaker 15: market capitalization. But when that is below one, then they

815
00:43:38,280 --> 00:43:40,879
Speaker 15: can actually legally be forced to buy back their own

816
00:43:40,920 --> 00:43:43,440
Speaker 15: share to go and sell some of these assets.

817
00:43:43,040 --> 00:43:43,800
Speaker 8: Which is idle.

818
00:43:43,880 --> 00:43:47,960
Speaker 15: You know, it's not really come producing bitcoin to actually

819
00:43:47,960 --> 00:43:51,120
Speaker 15: support the share price. Again, We've seeing this now with

820
00:43:51,440 --> 00:43:54,520
Speaker 15: some of the other bitcoin treasury companies that have very

821
00:43:54,520 --> 00:43:57,799
Speaker 15: clearly started selling some of their bitcoin and the micro

822
00:43:57,880 --> 00:44:00,359
Speaker 15: strategy MP, now, by the way, is the low it's

823
00:44:00,360 --> 00:44:03,760
Speaker 15: ever been. It's like one point zero city or something

824
00:44:03,800 --> 00:44:05,800
Speaker 15: like that, so it's extremely close to one.

825
00:44:06,800 --> 00:44:09,600
Speaker 3: Why are the whales selling at one hundred thousand dollars?

826
00:44:09,640 --> 00:44:11,759
Speaker 3: Why if they've been invested in it for so long,

827
00:44:12,320 --> 00:44:14,600
Speaker 3: I mean that held bitcoin for a long time, you

828
00:44:14,600 --> 00:44:16,719
Speaker 3: would think I mean, sure, I realized people need to

829
00:44:16,760 --> 00:44:18,920
Speaker 3: cash out at some point, but if it's got from

830
00:44:18,920 --> 00:44:21,160
Speaker 3: where it was to one hundred thousand, you'll think it'll

831
00:44:21,200 --> 00:44:21,760
Speaker 3: go higher.

832
00:44:22,760 --> 00:44:26,000
Speaker 15: I think it's more of a psychological level than anything else.

833
00:44:26,239 --> 00:44:28,799
Speaker 15: So we actually seeing it in jon chain data. We're

834
00:44:28,800 --> 00:44:31,960
Speaker 15: seeing that, you know, because the bitcoin legard is so transparent,

835
00:44:32,000 --> 00:44:34,680
Speaker 15: we can actually see who was you know, where in

836
00:44:34,719 --> 00:44:36,960
Speaker 15: which wallets these bitcoin lie, and we can see when

837
00:44:36,960 --> 00:44:39,120
Speaker 15: they are moved to the exchanges, and then we can

838
00:44:39,160 --> 00:44:42,080
Speaker 15: assume that they are selling, and that usually corresponds to

839
00:44:42,120 --> 00:44:45,000
Speaker 15: the psychological levels like, for instance, hundred thousand dollars. But

840
00:44:45,160 --> 00:44:48,479
Speaker 15: interesting enough, one hundred thousand dollars we see a lot

841
00:44:48,560 --> 00:44:50,759
Speaker 15: more than that. Than what we did. For instance, is.

842
00:44:53,719 --> 00:44:56,520
Speaker 3: Carl Dia you think, yeah, yeah.

843
00:44:56,400 --> 00:44:58,480
Speaker 15: Yeah, So it seems like, you know, one hundred thousand

844
00:44:58,560 --> 00:45:01,000
Speaker 15: definitely being a big psychological level, because we've seen a

845
00:45:01,000 --> 00:45:03,239
Speaker 15: lot more movements than what we did. For instance, when

846
00:45:03,280 --> 00:45:05,680
Speaker 15: but twenty ten thousand dollars for the first time.

847
00:45:06,920 --> 00:45:09,360
Speaker 3: The whole idea of bitquin as I understood it, was

848
00:45:09,360 --> 00:45:11,160
Speaker 3: that it was going to be a safe haven. It

849
00:45:11,200 --> 00:45:13,600
Speaker 3: was going to be a currency that could only this

850
00:45:13,719 --> 00:45:16,719
Speaker 3: is the argument from the bulls, not the whales, that

851
00:45:16,800 --> 00:45:19,880
Speaker 3: it was only going to get more expensive, and particularly

852
00:45:20,239 --> 00:45:23,200
Speaker 3: if there was a Trump administration that Trump had said

853
00:45:23,200 --> 00:45:26,680
Speaker 3: that he would be a sort of crypto friendly, and yeah,

854
00:45:27,000 --> 00:45:29,680
Speaker 3: you would think that all of those things would lead

855
00:45:29,680 --> 00:45:31,600
Speaker 3: to a higher value rather than what we're seeing at

856
00:45:31,600 --> 00:45:34,319
Speaker 3: the moment. So in other words, despite this sort of

857
00:45:34,360 --> 00:45:36,719
Speaker 3: being what you would have thought would be crypto's time,

858
00:45:36,840 --> 00:45:37,799
Speaker 3: things have gone the other way.

859
00:45:38,880 --> 00:45:41,439
Speaker 15: Yeah, that seems it did feel a bit like this year,

860
00:45:41,520 --> 00:45:43,440
Speaker 15: like a solid and news type of event. You know,

861
00:45:43,480 --> 00:45:48,440
Speaker 15: there was the price appreciated significantly into this new administration

862
00:45:48,880 --> 00:45:51,239
Speaker 15: that took over in the US, and there was a

863
00:45:51,239 --> 00:45:53,880
Speaker 15: lot of hope for things turning out into the positive

864
00:45:53,960 --> 00:45:59,439
Speaker 15: ending when those things actually started happening, we actually didn't.

865
00:45:59,560 --> 00:46:01,840
Speaker 15: We actually or all major resistance, as I said, just

866
00:46:02,360 --> 00:46:05,400
Speaker 15: an awful one hundred thousand dollars. So it did feel

867
00:46:05,440 --> 00:46:08,000
Speaker 15: a bit like a seal and news event, you know.

868
00:46:08,040 --> 00:46:10,600
Speaker 15: And bitcoin even used to be very correlated to the

869
00:46:10,719 --> 00:46:14,960
Speaker 15: M to money supply, and nowadays, you know, if you

870
00:46:15,040 --> 00:46:17,560
Speaker 15: still follow that correlation, then there's a fair price for

871
00:46:17,600 --> 00:46:21,000
Speaker 15: bitcoin currently at about two hundred thousand dollars, so we're

872
00:46:21,080 --> 00:46:24,239
Speaker 15: well well below that, and there's lots of vacuum for

873
00:46:24,320 --> 00:46:27,479
Speaker 15: bitcoin to fill that again, but yeah, definitely not living

874
00:46:27,560 --> 00:46:30,160
Speaker 15: up to its expectations. I think it's also worth noting

875
00:46:30,200 --> 00:46:33,880
Speaker 15: that the bitcoin market is generally very much over leveraged,

876
00:46:34,200 --> 00:46:36,279
Speaker 15: and has been for a few years now, so you know,

877
00:46:37,160 --> 00:46:40,840
Speaker 15: every time that the price goes down, it causes nass liquidations.

878
00:46:41,640 --> 00:46:43,520
Speaker 15: It's almost like just Domino's just falling.

879
00:46:44,920 --> 00:46:47,480
Speaker 3: The idea that one firm in this case micro strategy,

880
00:46:47,600 --> 00:46:50,120
Speaker 3: can be systemic, can hold five percent of the value,

881
00:46:50,440 --> 00:46:54,480
Speaker 3: and one change by another firm that's not directly involved

882
00:46:54,480 --> 00:46:59,080
Speaker 3: in crypto could lead to a series of consequences of

883
00:46:59,200 --> 00:47:02,239
Speaker 3: really big domin is falling. I mean, that would make

884
00:47:02,360 --> 00:47:05,280
Speaker 3: me worry a little bit about investing in the entire sector,

885
00:47:05,400 --> 00:47:08,040
Speaker 3: just that things go slightly wrong at one third.

886
00:47:09,080 --> 00:47:12,440
Speaker 15: I think there's a bit of an overreaction very recently,

887
00:47:12,480 --> 00:47:15,959
Speaker 15: and maybe it's because everyone remembers FTX store.

888
00:47:16,440 --> 00:47:17,319
Speaker 12: So FDx was.

889
00:47:17,840 --> 00:47:21,160
Speaker 15: The micro strategy of the previous era, and when they fell,

890
00:47:21,320 --> 00:47:23,480
Speaker 15: we all know that, you know, everything fell worth it

891
00:47:23,560 --> 00:47:27,000
Speaker 15: and it was just it was just absolutely chaotic that

892
00:47:27,280 --> 00:47:30,120
Speaker 15: the market turned on his head entirely, and I think

893
00:47:30,120 --> 00:47:33,600
Speaker 15: everyone still has very very clear memories of that and

894
00:47:33,920 --> 00:47:36,279
Speaker 15: now apply it is the same on micro strategy. Of course,

895
00:47:36,280 --> 00:47:39,440
Speaker 15: micro strategy, even though they do take on some leverage,

896
00:47:39,600 --> 00:47:42,560
Speaker 15: I think it's much much much lower risk than for instance,

897
00:47:42,560 --> 00:47:45,319
Speaker 15: an FDx. It's a completely different structure and it's not

898
00:47:46,320 --> 00:47:48,719
Speaker 15: and you know, it's not like there's there's so much

899
00:47:48,760 --> 00:47:52,040
Speaker 15: dependence on micro strategy, like I mean downstream from it

900
00:47:52,080 --> 00:47:54,960
Speaker 15: on on the rest of the industry, and micro strategy

901
00:47:55,000 --> 00:47:59,640
Speaker 15: will never be liquidated entirely. You know, if worst case scenario,

902
00:47:59,719 --> 00:48:02,080
Speaker 15: they will be forced to sell a little bit of

903
00:48:02,080 --> 00:48:04,680
Speaker 15: their bitcoin, but six hundred thousand dollars something like seventy

904
00:48:04,719 --> 00:48:07,160
Speaker 15: billion dollars at this point, it's a very very very

905
00:48:07,160 --> 00:48:10,080
Speaker 15: big gas position. So it's not, you know, I think

906
00:48:10,080 --> 00:48:14,400
Speaker 15: that the market might be over acting a little.

907
00:48:15,719 --> 00:48:18,799
Speaker 3: The long term case bitcoin is it as strong as

908
00:48:18,800 --> 00:48:21,719
Speaker 3: as supporters say it was six months ago before the

909
00:48:21,800 --> 00:48:22,960
Speaker 3: sort of quite difficult period.

910
00:48:23,760 --> 00:48:26,200
Speaker 15: I think it's stronger than ever. You know, with the

911
00:48:26,280 --> 00:48:31,440
Speaker 15: governments around the world aligning policies being accepted on institutional level,

912
00:48:32,480 --> 00:48:35,920
Speaker 15: there's more and more talks about you know, global governments

913
00:48:35,920 --> 00:48:38,719
Speaker 15: and even central banks starting to accept this asset class.

914
00:48:38,880 --> 00:48:42,120
Speaker 15: There's so much innovation behind that happening behind the scenes.

915
00:48:42,120 --> 00:48:46,360
Speaker 15: There's so many businesses building onto this asset coss and

916
00:48:46,680 --> 00:48:50,560
Speaker 15: inside this industry. It is definitely stronger than it's ever been,

917
00:48:51,040 --> 00:48:54,120
Speaker 15: So I have no doubt about the long term prospects

918
00:48:54,120 --> 00:48:56,399
Speaker 15: of the asset class. It's I think it's it's here

919
00:48:56,480 --> 00:49:00,000
Speaker 15: to stay. The days that we wonder whether bitcoin will

920
00:49:00,080 --> 00:49:03,040
Speaker 15: go back to zero will disappear overnight. Those days are

921
00:49:03,040 --> 00:49:06,640
Speaker 15: definitely gone. So there's no doubt in my mind that

922
00:49:07,040 --> 00:49:08,879
Speaker 15: if you're hold on for the long term, you will

923
00:49:08,920 --> 00:49:09,520
Speaker 15: be rewarded.

924
00:49:10,080 --> 00:49:12,760
Speaker 3: Carl Diacha, thank you very much. Indeed really do appreciate

925
00:49:12,800 --> 00:49:16,600
Speaker 3: the time research lead for blockchain technology at the CSIR.

926
00:49:16,880 --> 00:49:19,160
Speaker 3: As always with investing, I can just hear Warren Ingram.

927
00:49:19,160 --> 00:49:22,120
Speaker 3: In my head, basically it is all about the longer term.

928
00:49:22,320 --> 00:49:25,200
Speaker 3: Interesting though, that people who have held bitcoin for so

929
00:49:25,440 --> 00:49:28,280
Speaker 3: long to get to one hundred thousand have started to sell.

930
00:49:29,400 --> 00:49:31,239
Speaker 3: I mean, I get that you do have to cash out,

931
00:49:31,280 --> 00:49:33,560
Speaker 3: but it is still interesting that they've decided to sell

932
00:49:33,840 --> 00:49:36,600
Speaker 3: rather than hang on even longer. I mean, at some point,

933
00:49:36,600 --> 00:49:38,280
Speaker 3: I suppose you do just need to get the return

934
00:49:38,320 --> 00:49:41,160
Speaker 3: and get on with it. It's still very very interesting.

935
00:49:42,080 --> 00:49:46,120
Speaker 3: The my show business books eighteen minutes now after seven.

936
00:49:46,160 --> 00:49:50,400
Speaker 3: Tonight's book is called Anointed The Extraordinary Effects of Social

937
00:49:50,400 --> 00:49:56,439
Speaker 3: Status in a Winner Take Most World, and it's by

938
00:49:57,520 --> 00:50:01,120
Speaker 3: Toby Stewart, who is a professor at you See Berkeley

939
00:50:01,440 --> 00:50:03,200
Speaker 3: and to look at it Tonight of course is in

940
00:50:03,400 --> 00:50:05,640
Speaker 3: man the regular book review in MD at Gateways Business

941
00:50:05,680 --> 00:50:09,400
Speaker 3: Consultancy and been a while good evening, and this is

942
00:50:09,520 --> 00:50:13,319
Speaker 3: quite an interesting way of looking at at life. You know,

943
00:50:13,360 --> 00:50:15,319
Speaker 3: the fact that extra that that just a little bit

944
00:50:15,360 --> 00:50:18,600
Speaker 3: of social status changes your life completely.

945
00:50:18,320 --> 00:50:22,759
Speaker 10: Enormously, and I think that it's enormously pervasive. That's one

946
00:50:22,760 --> 00:50:27,359
Speaker 10: of the most amazing things about it. It defines who

947
00:50:27,360 --> 00:50:32,240
Speaker 10: you choose, who you value, who you trust and defines

948
00:50:32,360 --> 00:50:36,400
Speaker 10: almost everything. Hierarchies have been rough since forever. Amabi was

949
00:50:36,400 --> 00:50:39,480
Speaker 10: the first one. Then we've got the French their hierarchies.

950
00:50:39,640 --> 00:50:43,279
Speaker 10: So it's been around forever, and it's been and it

951
00:50:43,400 --> 00:50:46,799
Speaker 10: is terribly pervasive. Your five year old kids in the

952
00:50:46,880 --> 00:50:50,520
Speaker 10: school can tell you who the who are the smart kids,

953
00:50:50,800 --> 00:50:53,759
Speaker 10: who the popular kids, and they know that almost instinctively.

954
00:50:53,920 --> 00:50:56,960
Speaker 10: Else by the way, can do that by milliseconds. We

955
00:50:57,000 --> 00:50:59,920
Speaker 10: can walk into room and we can quickly suss out

956
00:51:00,040 --> 00:51:03,040
Speaker 10: who's who's who in the room, and then we respond accordingly.

957
00:51:03,480 --> 00:51:06,359
Speaker 10: So I think that it's very pervasive, and because it's

958
00:51:06,880 --> 00:51:09,719
Speaker 10: we know it's pervasive. But I don't think we've been we've

959
00:51:09,760 --> 00:51:12,400
Speaker 10: had our consciousness raised enough as to what.

960
00:51:12,280 --> 00:51:12,960
Speaker 3: This really is.

961
00:51:13,280 --> 00:51:15,560
Speaker 10: But you'll see that it has all sorts of implications

962
00:51:15,600 --> 00:51:18,640
Speaker 10: that often you're not really aware of. And I think

963
00:51:18,680 --> 00:51:22,880
Speaker 10: that that's when it's a lovely term anointed. Somebody has

964
00:51:22,960 --> 00:51:26,880
Speaker 10: given some right to do something with somebody else cannot

965
00:51:26,880 --> 00:51:30,040
Speaker 10: do without that, and it changes their behavior and changes

966
00:51:30,080 --> 00:51:32,760
Speaker 10: everything about them. And we've got all sorts of ways

967
00:51:32,760 --> 00:51:35,600
Speaker 10: in which we give status. I'll give you just one example.

968
00:51:36,400 --> 00:51:40,879
Speaker 10: Institutions give status. So if I introduce somebody, and I said, well,

969
00:51:41,200 --> 00:51:46,400
Speaker 10: he's a he's a Harvard Harvard educated lawyer. That's different

970
00:51:46,400 --> 00:51:51,319
Speaker 10: from saying is educated parts yeah, and New York Times

971
00:51:51,719 --> 00:51:57,320
Speaker 10: reporter and Google Google engineer. So we you're given certain

972
00:51:57,640 --> 00:52:02,440
Speaker 10: credibility just because institutions that you're associated with and has

973
00:52:02,520 --> 00:52:05,480
Speaker 10: all sorts of long term knock on effects that we

974
00:52:05,640 --> 00:52:07,440
Speaker 10: that we need to really consider.

975
00:52:08,520 --> 00:52:11,560
Speaker 3: And just to be there. And I think the one

976
00:52:11,640 --> 00:52:13,880
Speaker 3: thing that States is all about and to me is

977
00:52:13,920 --> 00:52:18,959
Speaker 3: inextricably intertwined with his money. Yes, it's it's it's I mean, yes,

978
00:52:19,120 --> 00:52:21,520
Speaker 3: the position that you hold. And I know in the

979
00:52:21,640 --> 00:52:24,720
Speaker 3: United States people and companies go to war over positions.

980
00:52:24,719 --> 00:52:28,799
Speaker 3: I'm the senior senior deputy vice whatever. But but in

981
00:52:28,840 --> 00:52:30,800
Speaker 3: the end, it's really about money.

982
00:52:31,280 --> 00:52:36,960
Speaker 10: It isn't interesting part, but it's got the It doesn't

983
00:52:36,960 --> 00:52:40,480
Speaker 10: differentiate people on the basis of anything that matters much.

984
00:52:40,600 --> 00:52:43,239
Speaker 10: We go even to the very beginnings, the hierarchy was

985
00:52:43,280 --> 00:52:47,000
Speaker 10: based on who my dad was and somehow other if

986
00:52:47,040 --> 00:52:50,880
Speaker 10: a king married off his child to another royal family,

987
00:52:51,320 --> 00:52:53,480
Speaker 10: which sounds like a really great idea, except that it

988
00:52:53,560 --> 00:52:59,480
Speaker 10: definitely repeated the gene pool intellectually. There you don't expect

989
00:52:59,520 --> 00:53:03,279
Speaker 10: that before Bright. So the the idea that it has

990
00:53:03,560 --> 00:53:07,120
Speaker 10: has credence is yes, and it's very pervasive, but it

991
00:53:07,200 --> 00:53:09,960
Speaker 10: has all sorts of affect them, probably very unlikely and

992
00:53:10,080 --> 00:53:14,680
Speaker 10: very un an intended effect. But it seems to be

993
00:53:14,680 --> 00:53:19,279
Speaker 10: a winner take all. But i've complete disproportion has then

994
00:53:19,360 --> 00:53:24,920
Speaker 10: corrected here. But Beyonce, it has got thousands of times

995
00:53:25,000 --> 00:53:28,239
Speaker 10: more followers than anybody else. Does that mean that she's

996
00:53:28,280 --> 00:53:31,120
Speaker 10: a thousand times better? And I think that this is

997
00:53:31,160 --> 00:53:35,480
Speaker 10: where things get really interesting, because there it gives. It

998
00:53:35,480 --> 00:53:39,279
Speaker 10: gives a lot of love power and love credibility to

999
00:53:39,400 --> 00:53:43,040
Speaker 10: people for all sorts of strange reasons and not necessarily

1000
00:53:43,080 --> 00:53:47,160
Speaker 10: intrinsically valuable. It's very hard to say that she is

1001
00:53:47,280 --> 00:53:50,759
Speaker 10: thousands of times a better singer than anybody else, or

1002
00:53:50,800 --> 00:53:53,919
Speaker 10: that the person who won one moon and the person

1003
00:53:53,960 --> 00:53:58,960
Speaker 10: who lost deserves earning as much money as as next.

1004
00:53:58,760 --> 00:54:00,560
Speaker 3: Five just for him done it.

1005
00:54:00,840 --> 00:54:03,400
Speaker 10: So once you're involved in this, once you are anointed,

1006
00:54:03,760 --> 00:54:07,200
Speaker 10: things actually can make it make a genuine difference to

1007
00:54:07,680 --> 00:54:12,960
Speaker 10: your outcomes and the being anointed it's something you can

1008
00:54:13,040 --> 00:54:15,480
Speaker 10: do for somebody else. If I'm anointed, I can anoint

1009
00:54:15,560 --> 00:54:18,160
Speaker 10: other people and perhaps one of the most interesting ones

1010
00:54:18,640 --> 00:54:22,080
Speaker 10: I came across was interesting examples of users. Is Ella

1011
00:54:22,120 --> 00:54:29,400
Speaker 10: Fitzgerald extraordinary voice. But she only she's an overweight black

1012
00:54:29,400 --> 00:54:33,000
Speaker 10: woman in the fifties, which doesn't give you any chance

1013
00:54:33,040 --> 00:54:35,319
Speaker 10: of success. So she read, she said, look, I make

1014
00:54:35,360 --> 00:54:38,560
Speaker 10: good money I singing clubs. I cang into like the

1015
00:54:38,600 --> 00:54:44,160
Speaker 10: real clubs because black women and overweight black women. And

1016
00:54:44,600 --> 00:54:48,759
Speaker 10: she happened to be friendly with Marilyn Monroe, and she

1017
00:54:49,440 --> 00:54:51,400
Speaker 10: Eli Fitzgill always believe that if I could plain in

1018
00:54:51,400 --> 00:54:54,200
Speaker 10: the big clubs, I could make real money. Marilyn Monroe

1019
00:54:54,280 --> 00:54:56,759
Speaker 10: said to one of the big most important clubs, I'll

1020
00:54:56,800 --> 00:54:59,600
Speaker 10: sit in the front row for the entire week. That

1021
00:54:59,680 --> 00:55:03,520
Speaker 10: she s sure just that much as she did, and

1022
00:55:03,560 --> 00:55:06,000
Speaker 10: of course that they're just burst onto the scene. So

1023
00:55:06,400 --> 00:55:10,840
Speaker 10: the power of having Marilyn Monroe being a somebody was

1024
00:55:10,880 --> 00:55:13,799
Speaker 10: able to do something for somebody else means like an

1025
00:55:13,840 --> 00:55:17,800
Speaker 10: annoyed people once I have been anointed. And we find

1026
00:55:17,800 --> 00:55:20,359
Speaker 10: this in all sorts of interesting ways. If you think

1027
00:55:20,480 --> 00:55:28,000
Speaker 10: of in the world of fashion, Coco Chanel wears a

1028
00:55:28,040 --> 00:55:31,840
Speaker 10: figure hiking black dress. That's the little black dress the

1029
00:55:31,920 --> 00:55:37,760
Speaker 10: boy talks about. Now that might not sound odd today,

1030
00:55:37,760 --> 00:55:41,200
Speaker 10: but in those days only people who wore black were servants.

1031
00:55:42,040 --> 00:55:44,000
Speaker 10: So she comes out there with a little black dress,

1032
00:55:44,000 --> 00:55:46,520
Speaker 10: but because she's Coco Chanel, she can pull it off.

1033
00:55:47,360 --> 00:55:51,960
Speaker 10: And Princess Di had one made as well. So one

1034
00:55:52,000 --> 00:55:55,120
Speaker 10: of the things I think we should accept about hierarchies,

1035
00:55:55,719 --> 00:56:00,239
Speaker 10: social hierarchies is that they're very helpful. We we know

1036
00:56:00,280 --> 00:56:03,719
Speaker 10: what to wear because somebody else has done it. It's

1037
00:56:04,120 --> 00:56:05,640
Speaker 10: just making all these choices.

1038
00:56:05,400 --> 00:56:09,359
Speaker 3: Yes, it creates uniforms too. I mean you can tell

1039
00:56:09,400 --> 00:56:12,720
Speaker 3: if you go to a very fancy event someone wearing

1040
00:56:12,719 --> 00:56:15,600
Speaker 3: a tax as a guest, someone wearing a suit is working. Yes,

1041
00:56:15,719 --> 00:56:17,360
Speaker 3: I mean it can be incredibly subtle.

1042
00:56:17,960 --> 00:56:22,160
Speaker 10: Yes, very subtle, and you can get it.

1043
00:56:22,920 --> 00:56:23,799
Speaker 3: Determines so much.

1044
00:56:24,000 --> 00:56:26,080
Speaker 10: But if you look at the real problems of this,

1045
00:56:27,000 --> 00:56:29,680
Speaker 10: if you look at the hiring process. A lovely study

1046
00:56:29,680 --> 00:56:31,680
Speaker 10: that was done I think in the Boston area. They

1047
00:56:31,680 --> 00:56:35,200
Speaker 10: took a genuine ad and they made up five thousand

1048
00:56:35,840 --> 00:56:41,240
Speaker 10: fictitious people and with pretty much exactly the same qualifications.

1049
00:56:41,640 --> 00:56:45,080
Speaker 10: Some had black sounding names, yes, and some had white

1050
00:56:45,080 --> 00:56:48,760
Speaker 10: sounding names. Those people with white sounding names were hired,

1051
00:56:49,640 --> 00:56:53,120
Speaker 10: were asked for a second interview with a fifty difference

1052
00:56:54,160 --> 00:56:56,759
Speaker 10: a huge amount, and it had to do with just

1053
00:56:56,760 --> 00:56:58,600
Speaker 10: because I thought the name triggered.

1054
00:56:58,719 --> 00:56:59,239
Speaker 16: Now, wasn't it?

1055
00:56:59,280 --> 00:57:00,400
Speaker 3: These people all racist?

1056
00:57:00,920 --> 00:57:04,680
Speaker 10: But it does have almost like a subliminal effect on

1057
00:57:05,280 --> 00:57:08,360
Speaker 10: what we're doing. And perhaps I think the most scary

1058
00:57:08,400 --> 00:57:11,680
Speaker 10: part of all of this is that there's something called

1059
00:57:11,680 --> 00:57:15,120
Speaker 10: the Matthew effect. If you remember your Matthew from the Bible.

1060
00:57:15,680 --> 00:57:18,200
Speaker 10: To those who got they will get more, and those

1061
00:57:18,200 --> 00:57:20,960
Speaker 10: who don't have a whole lot less. And if you

1062
00:57:21,000 --> 00:57:24,200
Speaker 10: think of what happens when somebody is anointed, when the

1063
00:57:24,320 --> 00:57:27,920
Speaker 10: university is anointed, they can get away with so much,

1064
00:57:28,560 --> 00:57:31,600
Speaker 10: but it translates into lots of other ways as well.

1065
00:57:32,040 --> 00:57:36,520
Speaker 10: If you if you are if you're recognized as an

1066
00:57:37,240 --> 00:57:41,720
Speaker 10: as having done incredible work as a scientist, you've you've

1067
00:57:41,880 --> 00:57:46,080
Speaker 10: you've come up with something really important, the the crisper,

1068
00:57:46,760 --> 00:57:50,360
Speaker 10: and all of a sudden because you were headed up

1069
00:57:50,440 --> 00:57:53,680
Speaker 10: that department. There were two women that head up the department,

1070
00:57:53,960 --> 00:57:56,680
Speaker 10: different university, but they if the fact that they did

1071
00:57:56,720 --> 00:57:59,840
Speaker 10: it now will allow them to get much much more

1072
00:57:59,840 --> 00:58:03,280
Speaker 10: money for research that they want. So once you've got it,

1073
00:58:03,640 --> 00:58:06,360
Speaker 10: you can apply more. If you missed it, you can't

1074
00:58:06,400 --> 00:58:08,800
Speaker 10: get anywhere near there. And I think that the more

1075
00:58:08,840 --> 00:58:13,200
Speaker 10: we are aware of the power of the social these hierarchies.

1076
00:58:13,400 --> 00:58:16,960
Speaker 10: The more we can work with it then, and it's

1077
00:58:17,000 --> 00:58:20,720
Speaker 10: not necessarily bad, I mean, but it must. We must,

1078
00:58:20,760 --> 00:58:24,320
Speaker 10: I think, calibrate and be very careful about how we

1079
00:58:24,360 --> 00:58:27,200
Speaker 10: do this. What's useful about is the shortcut.

1080
00:58:27,880 --> 00:58:31,840
Speaker 16: We know in hospitals who's who because the doctors call shots.

1081
00:58:31,920 --> 00:58:34,880
Speaker 16: And it's very useful because people know what's my job

1082
00:58:34,920 --> 00:58:38,200
Speaker 16: and what's yours. And then some sensus is important, but

1083
00:58:38,240 --> 00:58:41,640
Speaker 16: that the other one at the other level, it means

1084
00:58:41,640 --> 00:58:45,000
Speaker 16: that people who should be there can't get there, and

1085
00:58:45,040 --> 00:58:48,240
Speaker 16: that and those who shouldn't be there very often are there.

1086
00:58:48,640 --> 00:58:50,960
Speaker 3: It's how you break in, you know. Famously, it's how

1087
00:58:51,000 --> 00:58:53,360
Speaker 3: you get in, how you become from from an outsider

1088
00:58:53,360 --> 00:58:56,040
Speaker 3: to an insider. And often you need help from an insider.

1089
00:58:56,160 --> 00:59:01,480
Speaker 10: Yes indeed, and I just we offer presume because you've

1090
00:59:01,480 --> 00:59:05,000
Speaker 10: been anointed, you matter more. One of the loveliest experiments

1091
00:59:05,000 --> 00:59:08,160
Speaker 10: are you know, people get very snobby about wine, and

1092
00:59:08,200 --> 00:59:10,840
Speaker 10: I think I was thinking it would all snobby about wine,

1093
00:59:11,240 --> 00:59:13,520
Speaker 10: but the fact is that they did a whole bunch

1094
00:59:13,560 --> 00:59:17,840
Speaker 10: of tests on really serious wine drinkers, and they had

1095
00:59:17,920 --> 00:59:21,520
Speaker 10: five different bottles of wine, different ranges ranging from really

1096
00:59:21,840 --> 00:59:25,200
Speaker 10: cheap ones to ones they cost ninety dollars a bottle.

1097
00:59:25,680 --> 00:59:29,880
Speaker 10: It's just maliplied by twenty and they asked these people

1098
00:59:29,920 --> 00:59:32,000
Speaker 10: to test them are but they didn't just ask them

1099
00:59:32,000 --> 00:59:35,280
Speaker 10: what they thought. They put them on MRIs on a

1100
00:59:35,360 --> 00:59:38,400
Speaker 10: scanner to see what will go on in their brains.

1101
00:59:38,880 --> 00:59:41,200
Speaker 10: By the way, the same five dollars wine was in

1102
00:59:41,240 --> 00:59:44,840
Speaker 10: all the bottles, and when people thought that they were

1103
00:59:44,840 --> 00:59:48,960
Speaker 10: getting the ninety ninety dollars bottle, their brain actually lit

1104
00:59:49,040 --> 00:59:53,640
Speaker 10: up with pleasure in ways that they shouldn't have if

1105
00:59:53,640 --> 00:59:56,720
Speaker 10: they were able to recognize those differences. So once somebody

1106
00:59:56,840 --> 01:00:00,280
Speaker 10: is anointed as somebody who knows his wine, they are

1107
01:00:01,200 --> 01:00:05,520
Speaker 10: given rights to decide which we shouldn't they shouldn't be.

1108
01:00:05,520 --> 01:00:08,160
Speaker 3: A yan man. Thank you very much, indeed, I really

1109
01:00:08,200 --> 01:00:11,760
Speaker 3: do appreciate it. The book is called Anointed, The Extraordinary

1110
01:00:11,760 --> 01:00:14,640
Speaker 3: Effects of Social Status in a Winner Take Most World.

1111
01:00:14,640 --> 01:00:17,200
Speaker 3: It's by Tobie Stewart and Ian Mann is the MD

1112
01:00:17,280 --> 01:00:19,240
Speaker 3: at Gateways Business Consultants.

1113
01:00:19,920 --> 01:00:23,040
Speaker 2: Her Money Show, How I Make My Money.

1114
01:00:22,840 --> 01:00:25,320
Speaker 3: Twenty three minutes now to eighth the time. I think

1115
01:00:25,320 --> 01:00:28,720
Speaker 3: we can probably agree that South Africa is a good

1116
01:00:28,720 --> 01:00:34,000
Speaker 3: place to be a comedian, but sometimes you still have

1117
01:00:34,080 --> 01:00:36,240
Speaker 3: to work at it. And when you work at being

1118
01:00:36,280 --> 01:00:38,920
Speaker 3: a South African comedian, these are some of the results.

1119
01:00:39,000 --> 01:00:41,000
Speaker 17: Welcome to China's book aka Cholburn.

1120
01:00:41,040 --> 01:00:42,480
Speaker 18: Now, before we go far, I need you got to

1121
01:00:42,520 --> 01:00:44,720
Speaker 18: appreciate that this that were taken to shoot this video

1122
01:00:45,200 --> 01:00:47,240
Speaker 18: is not for love. Chomic is for business. But if

1123
01:00:47,240 --> 01:00:49,400
Speaker 18: you do find love, focus on the business. I'm here

1124
01:00:49,440 --> 01:00:52,480
Speaker 18: on nothing. Madela Bridge the safest bridge in South Africa

1125
01:00:52,600 --> 01:00:54,000
Speaker 18: if you happen to be a car moving at one

1126
01:00:54,040 --> 01:00:56,240
Speaker 18: hundred kilometers per hour, the richest.

1127
01:00:56,040 --> 01:00:56,960
Speaker 17: Square mile in Africa.

1128
01:00:57,080 --> 01:00:59,320
Speaker 18: Chinese book is the standing of the African economy. I'm

1129
01:00:59,360 --> 01:01:01,240
Speaker 18: here in front of the Johannes Big Stock Exchange. We

1130
01:01:01,360 --> 01:01:04,240
Speaker 18: can come in exchange almost any stocko almost and if

1131
01:01:04,240 --> 01:01:06,080
Speaker 18: you can't find it here, I'm sure it can end

1132
01:01:06,120 --> 01:01:06,960
Speaker 18: out till us.

1133
01:01:06,960 --> 01:01:08,920
Speaker 17: It's a CALLI laugh, put put it down.

1134
01:01:10,360 --> 01:01:13,080
Speaker 18: I think everyone comes to Jobak for opportunities and a

1135
01:01:13,080 --> 01:01:16,480
Speaker 18: better life. Even pigeons have LinkedIn profiles and fly business laws.

1136
01:01:16,560 --> 01:01:19,440
Speaker 17: Marouena est stuck a terminal p too better. This is

1137
01:01:19,440 --> 01:01:20,000
Speaker 17: a Calila.

1138
01:01:20,320 --> 01:01:20,520
Speaker 4: Look.

1139
01:01:20,600 --> 01:01:21,840
Speaker 17: I don't know what they are on about.

1140
01:01:22,160 --> 01:01:23,440
Speaker 18: It's all about integrating.

1141
01:01:23,560 --> 01:01:26,840
Speaker 17: I even touched up on Nai Zuli. Hey witty, how

1142
01:01:26,880 --> 01:01:29,720
Speaker 17: about you lady phone for once? Right, nobody is from

1143
01:01:29,760 --> 01:01:32,360
Speaker 17: from Jobay. The only people who are from Joebig are paras.

1144
01:01:32,520 --> 01:01:34,840
Speaker 18: We're pretextivent, Gord Lilian goes to be Now, this is

1145
01:01:34,840 --> 01:01:37,280
Speaker 18: your iPhone's last location before it decides it doesn't want

1146
01:01:37,320 --> 01:01:38,240
Speaker 18: to be found anymore.

1147
01:01:38,440 --> 01:01:38,600
Speaker 15: So.

1148
01:01:38,640 --> 01:01:41,840
Speaker 18: The thing about Joebek is the thing about Johannes Big

1149
01:01:42,000 --> 01:01:45,120
Speaker 18: is Jore just stroll my lines.

1150
01:01:45,360 --> 01:01:48,040
Speaker 17: We're here on constitutional heal. Chinese's Big is not for

1151
01:01:48,120 --> 01:01:48,840
Speaker 17: small problems.

1152
01:01:48,920 --> 01:01:51,600
Speaker 18: It was the epicenter of the anti Aparthepe movement and

1153
01:01:51,680 --> 01:01:54,640
Speaker 18: more recently Women for Change, which is a movement against

1154
01:01:54,720 --> 01:01:57,720
Speaker 18: gender based violence and femicide protests. And Joebec are like,

1155
01:01:57,840 --> 01:02:00,520
Speaker 18: we are not going home until the country. It's it's

1156
01:02:00,800 --> 01:02:02,360
Speaker 18: entire operating.

1157
01:02:01,800 --> 01:02:04,680
Speaker 3: System and doesn't it need it? The voice there of

1158
01:02:04,840 --> 01:02:08,960
Speaker 3: Vapa and Ragi, the award winning comedian is from Vapa.

1159
01:02:08,960 --> 01:02:11,280
Speaker 3: Good evening, Thanks so much for going to spend some

1160
01:02:11,320 --> 01:02:12,400
Speaker 3: time with us on the Money Show.

1161
01:02:13,240 --> 01:02:14,640
Speaker 12: Thank you, thank you, thank you for having me.

1162
01:02:14,680 --> 01:02:17,600
Speaker 3: Seven am I right to South Africa A good place

1163
01:02:17,640 --> 01:02:18,360
Speaker 3: to be a comedian.

1164
01:02:22,080 --> 01:02:24,480
Speaker 12: Yeah, what what's what? What define is good? I heard

1165
01:02:24,480 --> 01:02:25,720
Speaker 12: you introduced it that way.

1166
01:02:26,640 --> 01:02:30,760
Speaker 3: I think a lot of material is where I'm going exactly.

1167
01:02:30,880 --> 01:02:34,440
Speaker 12: Yes, yes, I think plenty of maacteria usually. Yeah, and

1168
01:02:34,480 --> 01:02:38,040
Speaker 12: then South Africa tends to be quite a humorous society.

1169
01:02:38,040 --> 01:02:40,720
Speaker 12: We don't take anything seriously, so it's almost like no

1170
01:02:41,280 --> 01:02:45,880
Speaker 12: they they are very little no goo topics. So something

1171
01:02:45,920 --> 01:02:48,360
Speaker 12: goes wrong and we laugh about it. That that's like,

1172
01:02:48,400 --> 01:02:51,320
Speaker 12: it's how we cope. So it's a yeah, it's a

1173
01:02:51,400 --> 01:02:54,320
Speaker 12: it's a it's it's a wonderful place to to enjoy

1174
01:02:54,400 --> 01:02:59,960
Speaker 12: comedy rather to be a comedian. Good, I mean, if

1175
01:03:00,240 --> 01:03:02,520
Speaker 12: you're talking about the career, since it takes a little

1176
01:03:02,520 --> 01:03:06,520
Speaker 12: bit of work to make it happen. But yeah, it's

1177
01:03:06,520 --> 01:03:10,640
Speaker 12: definitely it's definitely a place. Well, then again, almost everybody

1178
01:03:10,680 --> 01:03:14,040
Speaker 12: is a comedian because you all got an antidote to

1179
01:03:14,040 --> 01:03:18,760
Speaker 12: two about like what happening around you, just just to cope.

1180
01:03:18,880 --> 01:03:21,640
Speaker 12: So yeah, it's I enjoyed being here.

1181
01:03:21,760 --> 01:03:22,000
Speaker 8: Yeah.

1182
01:03:23,400 --> 01:03:26,960
Speaker 3: You describe yourself as coming from Persian parents, and I

1183
01:03:27,000 --> 01:03:30,320
Speaker 3: presume you mean Iran. Did your family sort of start

1184
01:03:30,360 --> 01:03:32,480
Speaker 3: in South Africa after nineteen seventy nine or was there

1185
01:03:32,480 --> 01:03:34,880
Speaker 3: a particular time or a moment when you started in

1186
01:03:34,920 --> 01:03:36,400
Speaker 3: South Africa.

1187
01:03:36,680 --> 01:03:39,200
Speaker 12: So okay, so that was that was when the revolution hit.

1188
01:03:40,400 --> 01:03:43,840
Speaker 12: My dad actually left Iran before that. He went to

1189
01:03:43,840 --> 01:03:47,200
Speaker 12: the States to go and study in like the mid seventies,

1190
01:03:47,320 --> 01:03:49,840
Speaker 12: so he missed the revolution bust all together and never

1191
01:03:49,920 --> 01:03:52,280
Speaker 12: went back. So he left and he was about eighteen,

1192
01:03:52,400 --> 01:03:54,080
Speaker 12: went to the State and then decided to come to

1193
01:03:54,120 --> 01:03:56,560
Speaker 12: South Africa then and then when they got when you

1194
01:03:56,600 --> 01:03:58,960
Speaker 12: got married to my mom was like to of the

1195
01:03:59,040 --> 01:04:02,720
Speaker 12: late eighties, that's when he convinced her to come and

1196
01:04:02,760 --> 01:04:05,760
Speaker 12: move to South Africa. She was she happened to be

1197
01:04:05,800 --> 01:04:12,280
Speaker 12: in India at the time as well, like not leaving Iran. Yeah,

1198
01:04:11,600 --> 01:04:15,200
Speaker 12: so they yeah, I would say early eighties.

1199
01:04:15,200 --> 01:04:17,760
Speaker 8: My dad arrived and mom arrived toward the end of eighties.

1200
01:04:18,280 --> 01:04:20,120
Speaker 12: Yeah, so that's when they decided to come down here.

1201
01:04:20,720 --> 01:04:24,960
Speaker 3: You grew up in maha King, yes, and I have this.

1202
01:04:25,040 --> 01:04:27,640
Speaker 3: I mean, I can't recall when I was last in

1203
01:04:27,680 --> 01:04:30,919
Speaker 3: Mahai King. It might even have had a different name then.

1204
01:04:31,560 --> 01:04:33,959
Speaker 3: And I see it as a sort of sleepy town

1205
01:04:34,440 --> 01:04:37,320
Speaker 3: and it probably isn't that. I always know that it

1206
01:04:37,400 --> 01:04:39,720
Speaker 3: is a very hot place because the weather is very hot.

1207
01:04:39,960 --> 01:04:41,880
Speaker 3: But you were growing up in this place, you were

1208
01:04:41,880 --> 01:04:44,200
Speaker 3: growing up as I don't know how many other people

1209
01:04:44,240 --> 01:04:46,959
Speaker 3: had parents from the same country you did, probably very few.

1210
01:04:47,160 --> 01:04:50,080
Speaker 3: What was that all like? And you have an ability

1211
01:04:50,120 --> 01:04:53,440
Speaker 3: of offer to speak many of our languages, and I mean,

1212
01:04:53,440 --> 01:04:56,040
Speaker 3: I kind of wonder if all of those things kind

1213
01:04:56,040 --> 01:04:58,200
Speaker 3: of flew together because of where you were, when you

1214
01:04:58,280 --> 01:05:00,000
Speaker 3: were and how you were growing up.

1215
01:05:01,200 --> 01:05:02,120
Speaker 12: Saman where are you from?

1216
01:05:02,320 --> 01:05:07,920
Speaker 8: Which area? Okay? Job born and bred, grew up?

1217
01:05:09,040 --> 01:05:12,040
Speaker 12: Okay, so I think, yeah, well my gang at the

1218
01:05:12,040 --> 01:05:14,480
Speaker 12: time Mafi gang, and I think it was Maffiking before that,

1219
01:05:14,800 --> 01:05:18,920
Speaker 12: Baba two, So that was it was a prominent pre

1220
01:05:19,360 --> 01:05:24,200
Speaker 12: uh pre ninety four. It was Papa Tuuana the Homeland,

1221
01:05:25,040 --> 01:05:27,959
Speaker 12: so where South Africa didn't considered that to be part

1222
01:05:27,960 --> 01:05:30,520
Speaker 12: of South Africa, it was like an almost independent state.

1223
01:05:31,160 --> 01:05:35,400
Speaker 12: So what you would find is that making even growing

1224
01:05:35,480 --> 01:05:39,680
Speaker 12: up was like a melting part of of First of all,

1225
01:05:39,760 --> 01:05:43,200
Speaker 12: like you could during the during during a part eight

1226
01:05:43,440 --> 01:05:46,760
Speaker 12: during that time in the homelands, everybody could live freely,

1227
01:05:46,800 --> 01:05:49,840
Speaker 12: so people of color were free in the Homeland region.

1228
01:05:49,920 --> 01:05:53,320
Speaker 12: So it had a very different culture to it in

1229
01:05:53,440 --> 01:05:56,600
Speaker 12: terms of like openness, freedom of speech. I think a

1230
01:05:56,600 --> 01:05:59,680
Speaker 12: lot of fat Joe would have done some of his

1231
01:05:59,760 --> 01:06:01,960
Speaker 12: stuff the Greg Lewis KB.

1232
01:06:02,160 --> 01:06:04,520
Speaker 8: There was a lot of double HP. There's a lot

1233
01:06:04,520 --> 01:06:05,640
Speaker 8: of like artists.

1234
01:06:05,280 --> 01:06:09,560
Speaker 12: Whether there were musicians, actors, talk show hosts that would

1235
01:06:09,560 --> 01:06:12,720
Speaker 12: have done some work in the early days with pop

1236
01:06:12,800 --> 01:06:14,040
Speaker 12: TV and radio pop.

1237
01:06:14,560 --> 01:06:15,680
Speaker 8: So it was it was.

1238
01:06:15,600 --> 01:06:19,960
Speaker 12: A place where like expression was really very like it

1239
01:06:20,280 --> 01:06:23,400
Speaker 12: was free. People were free to express so not as

1240
01:06:23,440 --> 01:06:25,280
Speaker 12: like constricted as if you were living in a part

1241
01:06:25,320 --> 01:06:27,080
Speaker 12: dates South Africa. So I think that was a culture

1242
01:06:27,120 --> 01:06:29,640
Speaker 12: that came in like pre apart dates, oh, I mean

1243
01:06:29,840 --> 01:06:33,040
Speaker 12: during that part day time, and then when it got

1244
01:06:33,080 --> 01:06:37,560
Speaker 12: integrated into South Africa post ninety four, then some of

1245
01:06:37,600 --> 01:06:41,160
Speaker 12: it still like remained in a way, so I mean

1246
01:06:41,200 --> 01:06:44,280
Speaker 12: even now more recently so like caspanoves would be from there.

1247
01:06:44,640 --> 01:06:47,840
Speaker 12: So it always it was a nice I guess, like

1248
01:06:48,800 --> 01:06:53,160
Speaker 12: it was a safe space to grow up, no matter

1249
01:06:53,160 --> 01:06:57,680
Speaker 12: what color or denomination you're from. So everybody was accepted, everybody.

1250
01:06:57,760 --> 01:07:01,920
Speaker 12: You know, it wasn't as intense even you know, the

1251
01:07:02,040 --> 01:07:06,000
Speaker 12: racial issues were not so intense as I would I

1252
01:07:06,000 --> 01:07:09,320
Speaker 12: would only learn later about some of these dynamics when

1253
01:07:09,320 --> 01:07:12,600
Speaker 12: I had to go to university in Cape Town, about

1254
01:07:12,640 --> 01:07:14,800
Speaker 12: like aspects of how people would have experienced the rest

1255
01:07:14,800 --> 01:07:17,960
Speaker 12: of South Africa. But I would say that like growing up,

1256
01:07:18,200 --> 01:07:21,480
Speaker 12: you didn't even I didn't notice, like sometimes I had

1257
01:07:21,480 --> 01:07:23,680
Speaker 12: to take note that, oh my skin.

1258
01:07:23,480 --> 01:07:25,440
Speaker 5: Color is a little bit different or I look different.

1259
01:07:25,880 --> 01:07:29,600
Speaker 12: But growing up, like everybody considered me Joanna. They were

1260
01:07:29,640 --> 01:07:32,480
Speaker 12: just like, oh, there's just one of us. So it

1261
01:07:32,520 --> 01:07:34,880
Speaker 12: was in that sense, it was it was really easy,

1262
01:07:34,920 --> 01:07:38,600
Speaker 12: too interesting to integrate. And then having to go to

1263
01:07:38,720 --> 01:07:40,800
Speaker 12: Cape Town and then mix with people from the rest

1264
01:07:40,840 --> 01:07:43,760
Speaker 12: of the country, you soon realize that, whoa, there's a

1265
01:07:43,760 --> 01:07:45,720
Speaker 12: lot of different things happening all over the place.

1266
01:07:47,040 --> 01:07:50,080
Speaker 3: And yeah, I mean no, no, no, no, sure it

1267
01:07:50,120 --> 01:07:51,760
Speaker 3: does and thank you and well for you went to

1268
01:07:51,880 --> 01:07:53,720
Speaker 3: Cape Town. I mean I had to go and check

1269
01:07:53,760 --> 01:07:55,800
Speaker 3: at least three websites to make sure I got this right.

1270
01:07:56,400 --> 01:07:59,960
Speaker 3: Instead of studying comedy to study mechanical engineering. I mean,

1271
01:08:00,040 --> 01:08:02,440
Speaker 3: there's not a lot that's funny about Micau's before me.

1272
01:08:02,520 --> 01:08:04,640
Speaker 3: Every day I used to see her, I didn't know

1273
01:08:04,880 --> 01:08:07,160
Speaker 3: very well. I used to work with her husband too.

1274
01:08:07,640 --> 01:08:13,880
Speaker 3: I know nothing about all of this. My second question, yes, anyway.

1275
01:08:14,520 --> 01:08:17,439
Speaker 19: In the third hour of the show, you'll remember that

1276
01:08:17,479 --> 01:08:20,519
Speaker 19: the South African government is facing criticism for its plan

1277
01:08:20,600 --> 01:08:24,479
Speaker 19: to introduce a chrome or export tax, with the Minerals

1278
01:08:24,560 --> 01:08:28,680
Speaker 19: Council warning it could harm the country's ferrochrome industry. The

1279
01:08:28,720 --> 01:08:32,519
Speaker 19: tax aims to boost local beneficiation, but industry leaders argue

1280
01:08:32,760 --> 01:08:35,960
Speaker 19: it's the high cost of electricity which has risen by

1281
01:08:36,000 --> 01:08:39,240
Speaker 19: over nine hundred percent to I mean since two thousand

1282
01:08:39,280 --> 01:08:41,479
Speaker 19: and seven. So that's going to be a conversation in

1283
01:08:41,520 --> 01:08:42,240
Speaker 19: the second hour.

1284
01:08:42,520 --> 01:08:43,440
Speaker 3: And then Tara.

1285
01:08:43,280 --> 01:08:46,080
Speaker 19: Ruis asks a question that you touched upon as I

1286
01:08:46,200 --> 01:08:49,840
Speaker 19: was driving in this evening, and she is asking questions

1287
01:08:49,880 --> 01:08:52,559
Speaker 19: about the Zuma family on the Zoomers, a threat to

1288
01:08:52,920 --> 01:08:56,800
Speaker 19: the South Africa, to South Africa's sovereignty and democracy, as

1289
01:08:56,840 --> 01:09:00,240
Speaker 19: we hear of some of what people are interpreting as

1290
01:09:00,240 --> 01:09:02,639
Speaker 19: the implosion of the MK Party. And then of course

1291
01:09:02,640 --> 01:09:05,439
Speaker 19: the final hour is an open line and that's the

1292
01:09:05,479 --> 01:09:06,040
Speaker 19: show tonight.

1293
01:09:06,360 --> 01:09:09,639
Speaker 3: Thank you very much, indeed, Oubri Musango. From eight o'clock,

1294
01:09:13,000 --> 01:09:14,800
Speaker 3: that's gone, seventh thirty time for the latest start with

1295
01:09:14,840 --> 01:09:17,160
Speaker 3: this news market. Good evening, Thanks Stephen.

1296
01:09:17,200 --> 01:09:17,639
Speaker 16: Good evening.

1297
01:09:17,720 --> 01:09:19,920
Speaker 20: We begin with developments from a Puma Langa where a

1298
01:09:20,000 --> 01:09:23,040
Speaker 20: fifth person has been declared dead following a bus crash

1299
01:09:23,240 --> 01:09:25,600
Speaker 20: on the R thirty three road in the province. The

1300
01:09:25,640 --> 01:09:29,439
Speaker 20: Community Safety Department says preliminary investigations revealed that the driver

1301
01:09:29,560 --> 01:09:32,200
Speaker 20: lost control of the vehicle, which veered off the road

1302
01:09:32,280 --> 01:09:35,880
Speaker 20: and overturned. Six people are critically injured, while twenty others

1303
01:09:35,880 --> 01:09:40,120
Speaker 20: have minor injuries. Emergency services and police remain on the scene.

1304
01:09:40,560 --> 01:09:45,040
Speaker 20: Formativety President of the Africa Abuya Movement, Robert Nuendo says

1305
01:09:45,320 --> 01:09:48,959
Speaker 20: there was no discord in his resignation from the party. Nuendo,

1306
01:09:49,240 --> 01:09:52,559
Speaker 20: along with several senior leaders, recently left for Shivamba's Movement,

1307
01:09:52,640 --> 01:09:55,800
Speaker 20: prompting a complete overhaul of the leadership structure at the

1308
01:09:55,880 --> 01:09:59,519
Speaker 20: newly formed political party. Nuendo helday media briefing in Herton

1309
01:09:59,560 --> 01:10:02,200
Speaker 20: today where he announced his sole focus will now be

1310
01:10:02,280 --> 01:10:07,120
Speaker 20: on growing his worker union MAUSA. The Mandashi Workers Union

1311
01:10:07,200 --> 01:10:11,400
Speaker 20: of South Africa largely represents people in a temporary employment

1312
01:10:11,479 --> 01:10:15,880
Speaker 20: like EPWP and c WP programs. Nudo says his work

1313
01:10:15,920 --> 01:10:19,479
Speaker 20: at maibuyad led him led to him neglecting the union.

1314
01:10:19,640 --> 01:10:23,800
Speaker 21: There was a circular which was expertly putah from the

1315
01:10:23,840 --> 01:10:27,120
Speaker 21: Department of complic Goustness which does not give work has

1316
01:10:27,200 --> 01:10:30,640
Speaker 21: no single rights as if like they're already intimittal and

1317
01:10:30,680 --> 01:10:34,600
Speaker 21: then due to my probachment a deputy President of my

1318
01:10:34,760 --> 01:10:38,080
Speaker 21: Rey Africa. That circular was issued in septemb I saw it.

1319
01:10:38,160 --> 01:10:39,520
Speaker 3: In of him.

1320
01:10:40,200 --> 01:10:42,760
Speaker 20: It's been a dry season for political parties, with only

1321
01:10:42,800 --> 01:10:46,800
Speaker 20: the Democratic Alliance benefiting significantly from external funding between July

1322
01:10:46,880 --> 01:10:50,200
Speaker 20: and September, as caused mount from civil society groups for

1323
01:10:50,240 --> 01:10:54,120
Speaker 20: greater transparency over political funding. New limits that came into

1324
01:10:54,160 --> 01:10:58,200
Speaker 20: effect during this reporting period now only require political parties

1325
01:10:58,240 --> 01:11:01,200
Speaker 20: to declare do nations greater than two hundred thousand rand.

1326
01:11:01,520 --> 01:11:04,720
Speaker 20: Besides the DA, only the ANC, Action Essay and the

1327
01:11:04,760 --> 01:11:08,599
Speaker 20: IFP declared donations over the threshold, while boss A declared

1328
01:11:08,680 --> 01:11:11,679
Speaker 20: donation under the limit. That both the ANC and IFP

1329
01:11:11,840 --> 01:11:15,160
Speaker 20: may have fallen foul of the rules. Lenzidentlinger has more.

1330
01:11:15,120 --> 01:11:17,639
Speaker 22: A total amount of only two point four million rand

1331
01:11:17,640 --> 01:11:20,280
Speaker 22: has been declared by the four political parties in the

1332
01:11:20,280 --> 01:11:22,960
Speaker 22: three months of the second quarter half of this By

1333
01:11:23,000 --> 01:11:26,360
Speaker 22: the Democratic Alliance, it received half a million Rand from

1334
01:11:26,400 --> 01:11:29,320
Speaker 22: a mister W. LaRue and an in kind and monetary

1335
01:11:29,320 --> 01:11:31,600
Speaker 22: donation of more than three hundred thousand rand from a

1336
01:11:31,640 --> 01:11:36,160
Speaker 22: regular donor, the frit Reschnaumann Foundation. Meanwhile, Action Essay leader

1337
01:11:36,160 --> 01:11:39,519
Speaker 22: Herman Mashaber continues to prop up his own party, making

1338
01:11:39,560 --> 01:11:42,960
Speaker 22: two donations adding up to four hundred and seventy thousand rand.

1339
01:11:43,640 --> 01:11:46,840
Speaker 22: The ANC only declared a single inkind donation from the

1340
01:11:47,000 --> 01:11:50,040
Speaker 22: Education and Training Unit of three hundred and fifty eight

1341
01:11:50,040 --> 01:11:50,759
Speaker 22: thousand rand.

1342
01:11:51,000 --> 01:11:53,600
Speaker 23: However, the declaration was made a day late and the

1343
01:11:53,600 --> 01:11:56,360
Speaker 23: Electoral Commission has ordered the party to explain why it

1344
01:11:56,439 --> 01:11:59,800
Speaker 23: missed the deadline. The Electoral Commission is also probeing one

1345
01:11:59,840 --> 01:12:03,519
Speaker 23: of two donations declared by the IFP over concerns that

1346
01:12:03,600 --> 01:12:06,840
Speaker 23: it may be considered foreign funding. This is for an

1347
01:12:06,880 --> 01:12:09,759
Speaker 23: amount of one hundred and eighty six thousand rand donated

1348
01:12:09,800 --> 01:12:12,080
Speaker 23: by the Westminster Foundation for Democracy.

1349
01:12:12,560 --> 01:12:14,760
Speaker 3: Lindsay Dentlinger Eyewitness News.

1350
01:12:15,400 --> 01:12:19,080
Speaker 20: And the sentiment among South African manufacturers has plunged after

1351
01:12:19,120 --> 01:12:22,599
Speaker 20: the Apps Are Purchasing Manager's Index dropped by a steep

1352
01:12:22,600 --> 01:12:26,000
Speaker 20: seven point two index points to forty two last month.

1353
01:12:26,320 --> 01:12:28,800
Speaker 20: The index stood at forty nine point two in the

1354
01:12:28,880 --> 01:12:32,800
Speaker 20: month prior. The sharp decline was underpinned by deteriorations in

1355
01:12:32,920 --> 01:12:36,559
Speaker 20: four of the five subcomponents of the headline PMI, with

1356
01:12:36,640 --> 01:12:40,839
Speaker 20: only employment looking slightly better. The Bureau for Economic Research

1357
01:12:40,880 --> 01:12:44,120
Speaker 20: released the latest Apps Are Purchasing Managers Index today. The

1358
01:12:44,200 --> 01:12:47,000
Speaker 20: reading is at its lowest since the COVID nineteen pandemic

1359
01:12:47,040 --> 01:12:50,320
Speaker 20: in April twenty twenty, with export sales remaining week.

1360
01:12:50,840 --> 01:12:51,599
Speaker 3: A look at your weather.

1361
01:12:51,760 --> 01:12:55,160
Speaker 20: Partly cloudy Tuesday in store for houting with afternoon showers

1362
01:12:55,160 --> 01:12:58,479
Speaker 20: and thunder showers expected Tomorrow. Temperatures will drop to overn

1363
01:12:58,479 --> 01:13:01,320
Speaker 20: outlaws or fourteen degrees across the province and peak at

1364
01:13:01,400 --> 01:13:04,280
Speaker 20: highs between twenty five and twenty seven degrees. Clear scars

1365
01:13:04,280 --> 01:13:06,640
Speaker 20: for Cape Town, along with moderate southerly wins at a

1366
01:13:06,680 --> 01:13:09,080
Speaker 20: law of eighteen and a high of twenty seven degrees.

1367
01:13:09,760 --> 01:13:13,000
Speaker 20: The top story and eyewitness news. A fifth person has

1368
01:13:13,040 --> 01:13:15,680
Speaker 20: been declared date following a bus crash on the R

1369
01:13:15,800 --> 01:13:17,559
Speaker 20: thirty three road in Buma Langa.

1370
01:13:19,120 --> 01:13:21,920
Speaker 24: Beyond every boardroom is a story waiting to be written,

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Speaker 24: A story of a business and its potential, of a

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Speaker 24: community that thrives, a hospital that serves, an energy that

1373
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Speaker 24: powers millions of dreams. It's a story that only gets

1374
01:13:31,920 --> 01:13:34,960
Speaker 24: better with a partner that has the expertise and solutions

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Speaker 24: to make it a reality. At Abscess CIB, we are

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Speaker 24: invested in your story and we invite you to write

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Speaker 24: it with us, because your story matters. Abolute, an authorized

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Speaker 25: Some numbers bring instant stress, like a speeding fine, another

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Speaker 25: petrol price hike, all that one debit order you forgot

1381
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Speaker 25: about again, But not all numbers spring panic. Some bring

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Speaker 25: calm an actual life savings support with twenty four to

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Speaker 25: seventy emergency support and over three hundred ambulances. ER twenty

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Speaker 25: four is there when you need us. Most don't wait

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Speaker 25: for an emergency. See it, say it, save it eight four.

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Speaker 3: One two four.

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Speaker 26: At Checkers, we do more so you get extra this

1388
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Speaker 26: Christmas with over two billion rand in festive savings like

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Speaker 26: Coca Cola Original Taste Less sugar Soft Drink two liters

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Speaker 26: two for forty four rand and Lance for double cream

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Speaker 26: yogurt one kg any two for seventy nine rand plus

1392
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Speaker 26: stand a chance to win your share of seven million

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Speaker 26: round in prizes. Simply buy any three qualifying products and

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Speaker 26: your favorite playlist and your favorite people. Durban Viall Hills

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Speaker 26: perfectly with every story. And right now, when you buy

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Speaker 26: any two bottles of Durbanville Hills from participating retailers, you

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Speaker 26: could win a five thousand rand voucher. Durbanville Hills pairs

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Speaker 26: perfectly with every story. Not for persons under the age

1402
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Speaker 26: of eighteen. Teas and c supply her money, show how

1403
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Speaker 26: I make my money.

1404
01:15:23,240 --> 01:15:25,760
Speaker 3: Twenty three minutes now to eighth the time. I think

1405
01:15:25,760 --> 01:15:29,160
Speaker 3: we can probably agree that South Africa is a good

1406
01:15:29,160 --> 01:15:34,439
Speaker 3: place to be a comedian, but sometimes you still have

1407
01:15:34,520 --> 01:15:36,679
Speaker 3: to work at it. And when you work at being

1408
01:15:36,760 --> 01:15:39,360
Speaker 3: a South African comedian, these are some of the results.

1409
01:15:39,439 --> 01:15:41,439
Speaker 17: Welcome to China's Burg aka Choburn.

1410
01:15:41,479 --> 01:15:42,920
Speaker 18: Now before we go far, I need you got to

1411
01:15:42,960 --> 01:15:45,160
Speaker 18: appreciate that this that were taken to shoot this video.

1412
01:15:45,240 --> 01:15:47,320
Speaker 18: Jobik is not for love. Jo Wick is for business.

1413
01:15:47,360 --> 01:15:49,360
Speaker 18: But if you do find love, focus on the business.

1414
01:15:49,439 --> 01:15:52,320
Speaker 18: I'm here on nothing. Madela Bridge the safest bridge in

1415
01:15:52,360 --> 01:15:54,240
Speaker 18: South Africa if you happen to be a car moving

1416
01:15:54,280 --> 01:15:56,960
Speaker 18: at one hundred kilometers per hour. The richest square mile

1417
01:15:57,000 --> 01:15:59,599
Speaker 18: in Africa. Chinese book is the standing of the African economy.

1418
01:15:59,800 --> 01:16:01,920
Speaker 18: Here in front of the Johannesburg Stock Exchange, we can

1419
01:16:01,960 --> 01:16:04,720
Speaker 18: come in exchange almost any stocko almost And if you

1420
01:16:04,760 --> 01:16:06,840
Speaker 18: can't find it here, I'm sure it can end out

1421
01:16:07,040 --> 01:16:07,400
Speaker 18: pill us.

1422
01:16:07,400 --> 01:16:09,360
Speaker 17: It's a CALLI laugh, put put it down.

1423
01:16:10,800 --> 01:16:13,400
Speaker 18: I think here everyone comes to Jobak for opportunities and

1424
01:16:13,439 --> 01:16:16,120
Speaker 18: a better life. Even pigeons have LinkedIn profiles and fly

1425
01:16:16,240 --> 01:16:16,920
Speaker 18: business laws.

1426
01:16:17,000 --> 01:16:19,760
Speaker 17: Marouena, you still stuck a terminal p too better? This

1427
01:16:19,800 --> 01:16:20,439
Speaker 17: is a Calila.

1428
01:16:20,760 --> 01:16:20,960
Speaker 8: Look.

1429
01:16:21,040 --> 01:16:23,480
Speaker 17: I don't know what they are on about. It's all about.

1430
01:16:23,240 --> 01:16:25,479
Speaker 18: Integrating and even touched up on Ni Zuli.

1431
01:16:26,000 --> 01:16:28,800
Speaker 17: Hey witty, how about you lady phone for once?

1432
01:16:28,920 --> 01:16:29,160
Speaker 10: Right?

1433
01:16:29,240 --> 01:16:31,479
Speaker 18: Nobody is from from Jobay. The only people who are

1434
01:16:31,520 --> 01:16:34,720
Speaker 18: from joebag a Paris. We're pretextivent. God, Lilian goes to

1435
01:16:34,760 --> 01:16:36,760
Speaker 18: be Now this is your iPhone's last location before it

1436
01:16:36,800 --> 01:16:39,160
Speaker 18: decides it doesn't want to be found anymore. So the

1437
01:16:39,200 --> 01:16:44,000
Speaker 18: thing about Joebek is the thing about Johannes Big is yore,

1438
01:16:44,680 --> 01:16:47,840
Speaker 18: just stroll. My lines were here on Constitutional Heal Chinese.

1439
01:16:47,920 --> 01:16:50,320
Speaker 18: Big is not for small problems. It was the epicenter

1440
01:16:50,360 --> 01:16:53,920
Speaker 18: of the anti apartheate movement and more recently Women for Change,

1441
01:16:53,960 --> 01:16:56,960
Speaker 18: which is a movement against gender based violence and femicide.

1442
01:16:57,000 --> 01:16:59,360
Speaker 18: Protests and JOBAC are like we are not going home

1443
01:16:59,560 --> 01:17:02,800
Speaker 18: until the country updates its entire operating.

1444
01:17:02,240 --> 01:17:05,120
Speaker 3: System and doesn't it need it. The voice there of

1445
01:17:05,320 --> 01:17:09,360
Speaker 3: vap and Ragi, the award winning comedian is from Vava.

1446
01:17:09,400 --> 01:17:11,720
Speaker 3: Good evening, Thanks so much for going to spend some

1447
01:17:11,760 --> 01:17:12,880
Speaker 3: time with us on the Money Show.

1448
01:17:13,680 --> 01:17:15,080
Speaker 12: Thank you, thank you, thank you for having me.

1449
01:17:15,120 --> 01:17:18,040
Speaker 3: Seven am I right to South Africa A good place

1450
01:17:18,080 --> 01:17:18,799
Speaker 3: to be a comedian?

1451
01:17:22,520 --> 01:17:22,800
Speaker 8: Yeah?

1452
01:17:22,840 --> 01:17:25,040
Speaker 12: What what's what? What define is good? I heard you

1453
01:17:25,040 --> 01:17:26,160
Speaker 12: introduced it that way.

1454
01:17:27,080 --> 01:17:31,200
Speaker 3: I think a lot of material is where I'm going exactly.

1455
01:17:31,320 --> 01:17:34,880
Speaker 12: Yes, yes, I think plenty of maacteria usually Yeah, and

1456
01:17:34,920 --> 01:17:38,479
Speaker 12: then South Africa tends to be quite a humorous society.

1457
01:17:38,479 --> 01:17:41,160
Speaker 12: We don't take anything seriously, so it's almost like no

1458
01:17:41,720 --> 01:17:46,320
Speaker 12: they they are very little, no goo topics. So something

1459
01:17:46,360 --> 01:17:48,800
Speaker 12: goes wrong and we laugh about it. That that's like,

1460
01:17:48,840 --> 01:17:51,760
Speaker 12: it's how we cope. So it's a yeah, it's a

1461
01:17:51,840 --> 01:17:54,759
Speaker 12: it's a it's it's a wonderful place to to enjoy

1462
01:17:54,840 --> 01:18:00,599
Speaker 12: comedy rather to be a comedian good. I mean, if

1463
01:18:00,640 --> 01:18:02,479
Speaker 12: you're talking about the career, since it.

1464
01:18:02,439 --> 01:18:04,679
Speaker 5: Takes a little bit of a work to make it happen.

1465
01:18:06,360 --> 01:18:10,160
Speaker 12: But yeah, it's definitely it's definitely a place well then again,

1466
01:18:10,400 --> 01:18:13,840
Speaker 12: almost everybody is a comedian because you all got an

1467
01:18:13,880 --> 01:18:18,640
Speaker 12: antidote to two about like what happening around you just

1468
01:18:18,640 --> 01:18:22,439
Speaker 12: just to cope. So yeah, it's I enjoyed being here. Yeah.

1469
01:18:23,840 --> 01:18:27,400
Speaker 3: You describe yourself as coming from Persian parents, and I

1470
01:18:27,479 --> 01:18:30,760
Speaker 3: presume you mean Iran. Did your family sort of start

1471
01:18:30,800 --> 01:18:32,920
Speaker 3: in South Africa after nineteen seventy nine or was there

1472
01:18:32,920 --> 01:18:35,240
Speaker 3: a particular time or a moment when when you started

1473
01:18:35,240 --> 01:18:36,840
Speaker 3: in South Africa?

1474
01:18:37,160 --> 01:18:39,639
Speaker 12: So okay, so that was that was when the revolution hit.

1475
01:18:40,840 --> 01:18:44,280
Speaker 12: My dad actually left Iran before that. He went to

1476
01:18:44,280 --> 01:18:47,640
Speaker 12: the States to go and study in like the mid seventies,

1477
01:18:47,760 --> 01:18:50,320
Speaker 12: so he missed the revolution bust all together and never

1478
01:18:50,360 --> 01:18:52,719
Speaker 12: went back. So he left and he was about eighteen,

1479
01:18:52,840 --> 01:18:54,519
Speaker 12: went to the State and then decided to come to

1480
01:18:54,560 --> 01:18:57,000
Speaker 12: South Africa then and then when they got when you

1481
01:18:57,040 --> 01:18:59,360
Speaker 12: got married to my mom was like two of the

1482
01:18:59,439 --> 01:19:03,160
Speaker 12: late teas. That's when he convinced her to come and

1483
01:19:03,200 --> 01:19:06,200
Speaker 12: move to South Africa. She was she happened to be

1484
01:19:06,240 --> 01:19:12,720
Speaker 12: in India at the time as well, like not leaving Iran. Yeah,

1485
01:19:12,040 --> 01:19:15,720
Speaker 12: so so they Yeah, I would say early eighties. My

1486
01:19:15,760 --> 01:19:18,880
Speaker 12: dad arrived and mom arrived towards the end of eighties. Yeah,

1487
01:19:18,920 --> 01:19:20,559
Speaker 12: so that's what they decided to come down here.

1488
01:19:21,160 --> 01:19:25,400
Speaker 3: You grew up in Maha Kan, yes, and I have this.

1489
01:19:25,479 --> 01:19:28,080
Speaker 3: I mean, I can't recall when I was last in

1490
01:19:28,160 --> 01:19:31,360
Speaker 3: Maha King. It might even have had a different name then.

1491
01:19:32,000 --> 01:19:34,400
Speaker 3: And I see it as a sort of sleepy town

1492
01:19:34,920 --> 01:19:37,880
Speaker 3: and it probably isn't that. I always know that it's

1493
01:19:37,960 --> 01:19:40,160
Speaker 3: a very hot place because the weather is very hot.

1494
01:19:40,439 --> 01:19:42,320
Speaker 3: But you were growing up in this place. You were

1495
01:19:42,320 --> 01:19:44,639
Speaker 3: growing up as I don't know how many other people

1496
01:19:44,680 --> 01:19:47,400
Speaker 3: had parents from the same country you did, probably very few.

1497
01:19:47,600 --> 01:19:50,519
Speaker 3: What was that all like? And you have an ability

1498
01:19:50,560 --> 01:19:53,720
Speaker 3: of offer to speak many of our languages, and I

1499
01:19:53,720 --> 01:19:56,200
Speaker 3: mean I kind of wonder if all of those things

1500
01:19:56,280 --> 01:19:58,479
Speaker 3: kind of flew together because of where you were when

1501
01:19:58,520 --> 01:20:00,519
Speaker 3: you were and how you were growing up.

1502
01:20:01,640 --> 01:20:02,519
Speaker 12: Saman Where are you from?

1503
01:20:02,760 --> 01:20:08,360
Speaker 8: Which area? Okay? Job born and bred, grew up?

1504
01:20:09,479 --> 01:20:12,479
Speaker 12: Okay, so I think, yeah, Well my gang at the

1505
01:20:12,479 --> 01:20:14,920
Speaker 12: time Mafi gang, and I think it was Maffiking before that,

1506
01:20:15,240 --> 01:20:19,360
Speaker 12: Baba two, So that was it was a prominent pre

1507
01:20:19,800 --> 01:20:24,640
Speaker 12: uh pre ninety four. It was Papa Tuituana the homeland,

1508
01:20:25,479 --> 01:20:28,400
Speaker 12: so where South Africa didn't consider that to be part

1509
01:20:28,400 --> 01:20:30,960
Speaker 12: of South Africa. It was like an almost independent state.

1510
01:20:31,600 --> 01:20:35,839
Speaker 12: So what you would find is that making even growing

1511
01:20:35,920 --> 01:20:40,120
Speaker 12: up was like a melting part of of First of all,

1512
01:20:40,200 --> 01:20:43,639
Speaker 12: like you could during the during during a part eight

1513
01:20:43,880 --> 01:20:47,200
Speaker 12: during that time in the homelands, everybody could live freely,

1514
01:20:47,240 --> 01:20:50,280
Speaker 12: so people of color were free in the Homeland region.

1515
01:20:50,360 --> 01:20:53,760
Speaker 12: So it had a very different culture to it in

1516
01:20:53,880 --> 01:20:57,040
Speaker 12: terms of like openness, freedom of speech. I think a

1517
01:20:57,040 --> 01:21:00,800
Speaker 12: lot of Fat Joe would have done the stuff there,

1518
01:21:00,840 --> 01:21:03,960
Speaker 12: Greg Lewis KB, there was a lot of Double HP.

1519
01:21:04,520 --> 01:21:08,280
Speaker 12: There's a lot of like artists, whether there were musicians, actors,

1520
01:21:08,439 --> 01:21:11,600
Speaker 12: talk show hosts that would have done some work in

1521
01:21:11,640 --> 01:21:14,479
Speaker 12: the early days with pop TV and radio pop.

1522
01:21:15,000 --> 01:21:16,120
Speaker 8: So it was it was.

1523
01:21:16,080 --> 01:21:20,400
Speaker 12: A place where like expression was really very like it

1524
01:21:20,720 --> 01:21:23,840
Speaker 12: was free. People were free to express so not as

1525
01:21:23,880 --> 01:21:25,720
Speaker 12: like constricted as if you were living in a part

1526
01:21:25,760 --> 01:21:27,519
Speaker 12: date South Africa. So I think that was a culture

1527
01:21:27,560 --> 01:21:30,080
Speaker 12: that came in like pre apart dates, oh, I mean

1528
01:21:30,280 --> 01:21:33,479
Speaker 12: during that part day time, and then when it got

1529
01:21:33,520 --> 01:21:38,000
Speaker 12: integrated into South Africa post ninety four, then some of

1530
01:21:38,040 --> 01:21:41,599
Speaker 12: it still like remained in a way, so I mean

1531
01:21:41,640 --> 01:21:44,720
Speaker 12: even now more recently, so like caspanoves would be from there,

1532
01:21:45,080 --> 01:21:48,280
Speaker 12: so it always it was a nice I guess, like

1533
01:21:49,240 --> 01:21:53,599
Speaker 12: it was a safe space to grow up, no matter

1534
01:21:53,600 --> 01:21:58,120
Speaker 12: what color or denomination you're from. So everybody was accepted, everybody.

1535
01:21:58,200 --> 01:22:02,360
Speaker 12: You know, it wasn't as intense even you know, the

1536
01:22:02,479 --> 01:22:03,639
Speaker 12: racial issues were.

1537
01:22:03,479 --> 01:22:05,959
Speaker 8: Not so intense as.

1538
01:22:06,080 --> 01:22:09,040
Speaker 12: I would I would only learn later about some of

1539
01:22:09,040 --> 01:22:10,840
Speaker 12: these dynamics when I had to go to university in

1540
01:22:10,880 --> 01:22:14,479
Speaker 12: Cape Town, about like aspects of how people would have

1541
01:22:14,520 --> 01:22:17,000
Speaker 12: experienced the rest of South Africa. But I would say

1542
01:22:17,040 --> 01:22:20,679
Speaker 12: that like, growing up, you didn't even I didn't notice,

1543
01:22:20,800 --> 01:22:23,559
Speaker 12: like sometimes I had to take note that, oh my

1544
01:22:23,640 --> 01:22:25,880
Speaker 12: skin color is a little bit different or I look different.

1545
01:22:26,320 --> 01:22:30,040
Speaker 12: But growing up, like everybody considered me Joanna. They were

1546
01:22:30,080 --> 01:22:32,920
Speaker 12: just like, oh, there's just one of us. So it

1547
01:22:32,960 --> 01:22:35,320
Speaker 12: was in that sense it was. It was really easy,

1548
01:22:35,360 --> 01:22:39,040
Speaker 12: too interesting to integrate. And then having to go to

1549
01:22:39,160 --> 01:22:41,240
Speaker 12: Cape Town and then mix with people from the rest

1550
01:22:41,280 --> 01:22:44,200
Speaker 12: of the country, you soon realize that, whoa, there's a

1551
01:22:44,200 --> 01:22:46,160
Speaker 12: lot of different things happened all off with the place

1552
01:22:47,479 --> 01:22:49,360
Speaker 12: and yeah, I.

1553
01:22:48,200 --> 01:22:51,120
Speaker 3: Mean no, no, no, no, sure it does and thank

1554
01:22:51,160 --> 01:22:52,880
Speaker 3: you and well for you went to Cape Town. I

1555
01:22:52,880 --> 01:22:54,680
Speaker 3: mean I had to go and check at least three

1556
01:22:54,680 --> 01:22:57,280
Speaker 3: websites to make sure I got this right, instead of

1557
01:22:57,520 --> 01:23:00,760
Speaker 3: studying comedy, to study mechanical engineering. I mean, there's not

1558
01:23:00,800 --> 01:23:04,880
Speaker 3: a lot that's funny about mechanical engineering civil engineering.

1559
01:23:04,920 --> 01:23:07,439
Speaker 12: And then I did my master's in structural engineering. So

1560
01:23:07,479 --> 01:23:10,000
Speaker 12: I got to two degrees from the University of Cape

1561
01:23:10,000 --> 01:23:13,679
Speaker 12: Town and that was just I just needed to figure

1562
01:23:13,680 --> 01:23:17,320
Speaker 12: out how I could disappoint my parents the most. So

1563
01:23:17,760 --> 01:23:20,479
Speaker 12: let me, let me really study hard. We get all

1564
01:23:20,479 --> 01:23:23,519
Speaker 12: of these degrees, get distinctions for it, and then tell

1565
01:23:23,560 --> 01:23:27,360
Speaker 12: them I'm not doing this anymore when I'm leaving. But

1566
01:23:27,439 --> 01:23:29,840
Speaker 12: I think that the weather serious aspect of it is

1567
01:23:29,840 --> 01:23:35,240
Speaker 12: that my parents, like immigrant parents, they like probably most parents,

1568
01:23:35,280 --> 01:23:38,479
Speaker 12: really valued education. So they're like, you just need to

1569
01:23:38,520 --> 01:23:42,280
Speaker 12: be useful where you are. You have a job. So

1570
01:23:43,040 --> 01:23:45,360
Speaker 12: they got me to do that and I did it,

1571
01:23:45,520 --> 01:23:48,639
Speaker 12: and then I wanted to pursue this comedy. And then

1572
01:23:48,680 --> 01:23:51,240
Speaker 12: I realized that I think still let them. You know,

1573
01:23:51,360 --> 01:23:53,760
Speaker 12: for for the most part, they don't completely get it.

1574
01:23:53,760 --> 01:23:59,280
Speaker 12: They are more they are definitely supportive, but from from

1575
01:23:59,320 --> 01:24:02,599
Speaker 12: their aspect, you know, the traditional professions are the ones

1576
01:24:02,640 --> 01:24:05,920
Speaker 12: that they value. And I do realize that they had

1577
01:24:05,960 --> 01:24:08,320
Speaker 12: to go through a lot like coming from you know,

1578
01:24:09,160 --> 01:24:12,880
Speaker 12: you know, a war state or revolution and getting kicked

1579
01:24:12,880 --> 01:24:15,400
Speaker 12: out of the country and it's not being the greatest place.

1580
01:24:15,479 --> 01:24:16,160
Speaker 8: So they were.

1581
01:24:16,640 --> 01:24:20,000
Speaker 12: They they didn't have an opportunity to dream. Most of

1582
01:24:20,040 --> 01:24:23,400
Speaker 12: their opportunities are just like they just thought, let's just survive.

1583
01:24:23,680 --> 01:24:25,559
Speaker 12: And I was like, look, I have all of these

1584
01:24:25,560 --> 01:24:28,559
Speaker 12: cyculties available to me. I got my degrees, and now

1585
01:24:28,560 --> 01:24:30,439
Speaker 12: I want to dream and I want to affect change

1586
01:24:30,479 --> 01:24:31,760
Speaker 12: in a different way, and.

1587
01:24:31,720 --> 01:24:32,960
Speaker 8: This is what I want to do with my time.

1588
01:24:33,120 --> 01:24:36,360
Speaker 3: And so yeah, and sorry to interrupted. I mean, when

1589
01:24:36,400 --> 01:24:41,000
Speaker 3: you were growing up, was comedy Maybe no professionally, But

1590
01:24:41,080 --> 01:24:43,000
Speaker 3: were you the kid who was selling jokes at the

1591
01:24:43,040 --> 01:24:46,080
Speaker 3: dinner table? Were you the one who, you know, people

1592
01:24:46,120 --> 01:24:48,280
Speaker 3: in the sports team would say, tell us a joke.

1593
01:24:48,560 --> 01:24:50,760
Speaker 3: I mean, was it always something within you or did

1594
01:24:50,760 --> 01:24:52,639
Speaker 3: it only come later as you got a bit older?

1595
01:24:53,560 --> 01:24:56,200
Speaker 12: Yeah, not at all. Actually, I was mostly the quiet,

1596
01:24:56,200 --> 01:25:01,360
Speaker 12: shy kid, very observant, so just all a stead looked around.

1597
01:25:01,000 --> 01:25:03,640
Speaker 12: I would only speak if I felt like it was

1598
01:25:03,680 --> 01:25:06,000
Speaker 12: completely necessary for me to say what I needed to say.

1599
01:25:07,760 --> 01:25:11,840
Speaker 12: So but I think in many ways that both you

1600
01:25:12,000 --> 01:25:15,000
Speaker 12: well as a comedian because you see a lot more

1601
01:25:16,160 --> 01:25:20,080
Speaker 12: because you're just sitting observing, watching and then right now,

1602
01:25:20,120 --> 01:25:22,400
Speaker 12: I just find myself like with just like a wealth

1603
01:25:22,400 --> 01:25:25,360
Speaker 12: of observations, which is great for comedy as well.

1604
01:25:25,400 --> 01:25:27,920
Speaker 3: Yeah, I was going to ask about being observant because

1605
01:25:28,240 --> 01:25:31,400
Speaker 3: the best comedians that I've seen I'm not someone who

1606
01:25:31,400 --> 01:25:33,559
Speaker 3: watches a lot of it, I'm afraid, but the best

1607
01:25:33,560 --> 01:25:36,360
Speaker 3: sort of comedy I've heard, whether it be I mean

1608
01:25:36,400 --> 01:25:40,040
Speaker 3: Bill Cosby before is us a disgrace? Whether it be?

1609
01:25:40,640 --> 01:25:43,639
Speaker 3: And there's some British comedians who are just talking about

1610
01:25:43,680 --> 01:25:49,120
Speaker 3: bringing up children and just that power of observations. Actually

1611
01:25:49,160 --> 01:25:51,919
Speaker 3: one of the most important things for EVENO is another example,

1612
01:25:52,360 --> 01:25:56,480
Speaker 3: just being able to observe and then reflecting on your observation.

1613
01:25:56,600 --> 01:26:00,040
Speaker 3: I mean, that's the power of it, isn't it.

1614
01:26:00,080 --> 01:26:02,800
Speaker 12: And then when you you know, comedy is also about

1615
01:26:02,840 --> 01:26:06,160
Speaker 12: to like you share a perspective where there's popular opinion

1616
01:26:06,240 --> 01:26:09,320
Speaker 12: or not do it. So you just share a perspective

1617
01:26:09,360 --> 01:26:12,160
Speaker 12: to people to get to people to see something and

1618
01:26:12,200 --> 01:26:14,960
Speaker 12: potentially a different light. You're not trying to actively change

1619
01:26:14,960 --> 01:26:17,280
Speaker 12: their opinion, but you see it in a different and

1620
01:26:17,320 --> 01:26:19,200
Speaker 12: you're like, WHOA, I never saw it from this view.

1621
01:26:19,240 --> 01:26:24,880
Speaker 12: This is so hilarious. So it gives people a different perspective.

1622
01:26:24,920 --> 01:26:27,280
Speaker 12: And then it allows people to make their own mind up.

1623
01:26:27,360 --> 01:26:29,559
Speaker 12: Oh oh this is you know, there's all society supposed

1624
01:26:29,560 --> 01:26:32,040
Speaker 12: to work with. This is not. So it challenges thoughts

1625
01:26:32,080 --> 01:26:34,960
Speaker 12: and to do that you need to be able to

1626
01:26:34,960 --> 01:26:38,439
Speaker 12: be observing from different lenses. So I do think that, yes,

1627
01:26:38,479 --> 01:26:41,400
Speaker 12: it is definitely. I think that's probably a better skill

1628
01:26:41,479 --> 01:26:43,120
Speaker 12: to have than to be the class cloud.

1629
01:26:43,880 --> 01:26:46,040
Speaker 8: So yeah, when.

1630
01:26:45,880 --> 01:26:48,320
Speaker 3: We the clip we played when we started, and you

1631
01:26:48,400 --> 01:26:53,839
Speaker 3: do different you take off different South African accents, incredibly diverse.

1632
01:26:53,880 --> 01:26:56,160
Speaker 3: You've got a wide range of accents. When you do

1633
01:26:56,240 --> 01:26:59,280
Speaker 3: that in front of a crowd, who laughs the most

1634
01:26:59,320 --> 01:27:01,040
Speaker 3: at which act? And what I'm trying to get to

1635
01:27:01,200 --> 01:27:04,720
Speaker 3: is do people laugh the most when you're ripping off

1636
01:27:05,040 --> 01:27:08,280
Speaker 3: their own accent? Is that what makes them laugh the most?

1637
01:27:08,360 --> 01:27:09,959
Speaker 3: Or is it something else.

1638
01:27:10,680 --> 01:27:13,519
Speaker 12: The experience of my comedy that people are not Actually,

1639
01:27:14,240 --> 01:27:18,200
Speaker 12: I wouldn't consider myself great at accents. I can do

1640
01:27:18,240 --> 01:27:20,559
Speaker 12: a couple here in there, but people don't laugh at

1641
01:27:20,560 --> 01:27:23,639
Speaker 12: why at my accent? I think what I've what I've

1642
01:27:23,920 --> 01:27:27,840
Speaker 12: predominantly got feedback from is that people laugh at what

1643
01:27:27,960 --> 01:27:32,519
Speaker 12: I say when say I'm saying something, so they they

1644
01:27:32,600 --> 01:27:36,160
Speaker 12: they it's it's more the content that gets them as

1645
01:27:36,160 --> 01:27:39,960
Speaker 12: opposed to as opposed to the accent itself. I guess

1646
01:27:40,000 --> 01:27:41,840
Speaker 12: if you if you get to see even like parts

1647
01:27:41,840 --> 01:27:44,360
Speaker 12: of my work with these so short sketches as well,

1648
01:27:44,400 --> 01:27:47,960
Speaker 12: it's about like finding clever ways how to send out

1649
01:27:48,000 --> 01:27:50,880
Speaker 12: certain messaging, whether you're poking at something or not, you're

1650
01:27:50,880 --> 01:27:52,080
Speaker 12: making an observation or not.

1651
01:27:52,479 --> 01:27:53,240
Speaker 8: So it's more.

1652
01:27:53,080 --> 01:27:56,040
Speaker 12: Actually I take quite a bit more time looking at

1653
01:27:56,080 --> 01:27:58,000
Speaker 12: like what's the wording? How am I saying this in

1654
01:27:58,000 --> 01:28:00,240
Speaker 12: the most concise way? What am I trying to see?

1655
01:28:01,000 --> 01:28:04,040
Speaker 3: You're you're at the moment you're doing a hashtag? Becoming

1656
01:28:04,120 --> 01:28:06,840
Speaker 3: South African? Is your current one man comedy show? I

1657
01:28:06,840 --> 01:28:10,960
Speaker 3: think your final one is this Weekend? Is that about

1658
01:28:11,240 --> 01:28:14,879
Speaker 3: sort of South Africa? I mean, how do you define

1659
01:28:14,880 --> 01:28:17,719
Speaker 3: what South African is? I sometimes think we're so diverse.

1660
01:28:17,760 --> 01:28:19,439
Speaker 3: I don't know if you can really do that. And

1661
01:28:19,520 --> 01:28:22,639
Speaker 3: yet there are certain things that absolutely we unite behind

1662
01:28:22,880 --> 01:28:24,799
Speaker 3: and only South Africans unite behind.

1663
01:28:26,240 --> 01:28:27,960
Speaker 12: So I think that is that's very much the gist

1664
01:28:27,960 --> 01:28:31,200
Speaker 12: of the show, Like what is the South African? So

1665
01:28:31,680 --> 01:28:33,519
Speaker 12: I was born and brought up in South Africa. I

1666
01:28:33,600 --> 01:28:36,600
Speaker 12: consider myself like South African. A lot of people like

1667
01:28:36,600 --> 01:28:38,240
Speaker 12: stop me on the road and they like, oh, you're

1668
01:28:38,280 --> 01:28:39,880
Speaker 12: the South African guys, And I was like, then what

1669
01:28:39,960 --> 01:28:40,400
Speaker 12: are you?

1670
01:28:40,520 --> 01:28:40,800
Speaker 8: Yes?

1671
01:28:40,840 --> 01:28:46,559
Speaker 12: But like it challenges that, you know, some of these

1672
01:28:46,600 --> 01:28:48,400
Speaker 12: notions and some of these thoughts and some of these

1673
01:28:48,439 --> 01:28:50,799
Speaker 12: prejudices that we have, like what is the South African?

1674
01:28:51,080 --> 01:28:51,760
Speaker 12: What do we have to do?

1675
01:28:51,800 --> 01:28:52,599
Speaker 8: How do we act?

1676
01:28:52,840 --> 01:28:55,280
Speaker 12: And it's a journey of me having to like, clearly,

1677
01:28:55,320 --> 01:28:58,799
Speaker 12: I look a little bit racially ambiguous because of my parents' background,

1678
01:28:59,120 --> 01:29:01,840
Speaker 12: but I'm as much of South Africans everybody else. And

1679
01:29:02,200 --> 01:29:05,000
Speaker 12: you know, I've had to learn different languages, adapt in

1680
01:29:05,040 --> 01:29:11,240
Speaker 12: different spaces metropolitan spaces, more rural areas, and I've got to.

1681
01:29:11,160 --> 01:29:12,439
Speaker 8: See a lot, observe a lot.

1682
01:29:12,680 --> 01:29:16,600
Speaker 12: So it breaks down a little bit of like, you know,

1683
01:29:16,640 --> 01:29:19,920
Speaker 12: the stereotyped things that we think are that what makes

1684
01:29:20,000 --> 01:29:22,439
Speaker 12: us South African and then tries to wrap it up

1685
01:29:22,479 --> 01:29:24,439
Speaker 12: in a way of like, you know, how how are

1686
01:29:24,439 --> 01:29:26,519
Speaker 12: we South African? And you're you're right, do we have

1687
01:29:26,600 --> 01:29:29,280
Speaker 12: a lot of commonalities, but at the same time we've

1688
01:29:29,280 --> 01:29:31,320
Speaker 12: got a lot of differences. But that is South African.

1689
01:29:32,560 --> 01:29:36,000
Speaker 12: So it's some of it, like there's a lot of

1690
01:29:36,040 --> 01:29:38,960
Speaker 12: storytelling in there. Some of it relaying some of my perspectives,

1691
01:29:39,000 --> 01:29:42,559
Speaker 12: so a very unique point of view which you wouldn't get.

1692
01:29:43,080 --> 01:29:46,400
Speaker 12: You don't not often hear about, like somebody of Persian

1693
01:29:46,400 --> 01:29:49,400
Speaker 12: descent being a South African and what is what is

1694
01:29:49,560 --> 01:29:53,240
Speaker 12: what is he? What is his uh, what's his experience like?

1695
01:29:53,360 --> 01:29:55,040
Speaker 12: So that's what the show is about.

1696
01:29:55,160 --> 01:29:56,960
Speaker 8: We've so I've done.

1697
01:29:57,479 --> 01:29:59,599
Speaker 12: This is my inaugural tools So this is my first

1698
01:30:00,040 --> 01:30:01,360
Speaker 12: one man show.

1699
01:30:01,439 --> 01:30:03,040
Speaker 8: Like that I've done.

1700
01:30:03,400 --> 01:30:06,720
Speaker 12: So it's my first special and I had I had

1701
01:30:06,720 --> 01:30:08,840
Speaker 12: a vision at the beginning of this thing. So when

1702
01:30:08,840 --> 01:30:11,639
Speaker 12: I decided over like a year ago that I wanted

1703
01:30:11,680 --> 01:30:14,559
Speaker 12: to do this, I wanted to get to every single

1704
01:30:14,720 --> 01:30:18,439
Speaker 12: province in the country. And it's not often that you

1705
01:30:18,439 --> 01:30:21,760
Speaker 12: find artists going to every because you know, we're quite polarized.

1706
01:30:22,840 --> 01:30:25,519
Speaker 12: Zulu people would appeal more to Zulu people than they

1707
01:30:25,520 --> 01:30:27,479
Speaker 12: do to the rest of the country. And Tasa and

1708
01:30:27,560 --> 01:30:32,720
Speaker 12: Tona and likewise Afrikaans, English, white people, colored people and

1709
01:30:32,760 --> 01:30:35,280
Speaker 12: the likes we've you know, it's quite segregated in a

1710
01:30:35,320 --> 01:30:37,280
Speaker 12: lot of ways, so you wouldn't find people going all

1711
01:30:37,320 --> 01:30:40,320
Speaker 12: around the country. And I said, I wanted to get

1712
01:30:40,360 --> 01:30:43,679
Speaker 12: to every single province. So I've been to every single problem.

1713
01:30:43,720 --> 01:30:47,120
Speaker 12: Most of the shows that like have had overwhelming supports,

1714
01:30:47,240 --> 01:30:51,559
Speaker 12: people filling out the venues. We're being over capacity, and

1715
01:30:51,880 --> 01:30:55,040
Speaker 12: this like, for me, it's really amazing to see how

1716
01:30:55,080 --> 01:30:57,599
Speaker 12: so many people were gathered together to do something together.

1717
01:30:58,280 --> 01:31:01,920
Speaker 12: So we've been we've done shows. This will be the

1718
01:31:01,960 --> 01:31:07,080
Speaker 12: eleventh one. The last stop is Joe Buck and that's

1719
01:31:07,120 --> 01:31:10,400
Speaker 12: at the gold Rich City at the Link Theater the Saturday,

1720
01:31:11,040 --> 01:31:14,720
Speaker 12: and it's been it's been absolutely amazing to see the

1721
01:31:14,880 --> 01:31:18,719
Speaker 12: diversity as well. Like I think we were in Kimberly

1722
01:31:18,800 --> 01:31:21,559
Speaker 12: and bloomfintein over Friday and Saturday, sold out shows in

1723
01:31:21,560 --> 01:31:25,639
Speaker 12: both places. And there's white people there, and there's Afrikaans people,

1724
01:31:25,760 --> 01:31:30,000
Speaker 12: and there's colored people and predominantly black Shutu people from

1725
01:31:30,040 --> 01:31:34,320
Speaker 12: the areas of Tswana people, Indian people, and it just

1726
01:31:34,479 --> 01:31:38,240
Speaker 12: looks like South Africa when you look at the crowd.

1727
01:31:38,840 --> 01:31:42,960
Speaker 12: And then it's also insane that I don't look like

1728
01:31:43,040 --> 01:31:46,040
Speaker 12: anybody in the crowd, and nobody in the crowd looks

1729
01:31:46,080 --> 01:31:47,880
Speaker 12: like anybody else in the crowd. So it's just like,

1730
01:31:48,400 --> 01:31:51,760
Speaker 12: but we can all sit there together and share this

1731
01:31:51,880 --> 01:31:55,600
Speaker 12: common experience of we're all South African, we're all divers

1732
01:31:56,080 --> 01:31:59,320
Speaker 12: and truly. I think that's other than it being hilarious,

1733
01:31:59,400 --> 01:32:00,599
Speaker 12: it is It is a.

1734
01:32:00,600 --> 01:32:02,360
Speaker 5: Story of unity and story of.

1735
01:32:02,560 --> 01:32:06,000
Speaker 12: A of a of a challenging perspective where we're like, okay,

1736
01:32:06,240 --> 01:32:07,160
Speaker 12: we're all the same thing.

1737
01:32:07,240 --> 01:32:08,960
Speaker 8: What what is it about?

1738
01:32:09,160 --> 01:32:12,120
Speaker 3: Yeah, surea Vava, I'm just going to stop you there

1739
01:32:12,120 --> 01:32:14,280
Speaker 3: for a second, afraid. We're speaking to Vafa and Aragi

1740
01:32:14,680 --> 01:32:17,080
Speaker 3: the comedian, he is our guest, and How I Make

1741
01:32:17,120 --> 01:32:18,919
Speaker 3: My Money Tonight six minutes state.

1742
01:32:20,560 --> 01:32:23,080
Speaker 13: The Money Show Stipe Protest is brought to you by

1743
01:32:23,160 --> 01:32:28,120
Speaker 13: Abscess cib Discover the latest trends shaping digital assets across Africa.

1744
01:32:28,439 --> 01:32:32,559
Speaker 13: Download the as Africa Digital Assets inside twenty twenty five.

1745
01:32:33,880 --> 01:32:36,839
Speaker 2: The Money Show, How I Make My Money?

1746
01:32:37,200 --> 01:32:40,440
Speaker 3: Four minutes now to eighth the time. Vafragi is the comedian.

1747
01:32:40,520 --> 01:32:43,120
Speaker 3: He's telling us how he makes his money. Vava, there's

1748
01:32:43,160 --> 01:32:45,080
Speaker 3: a sort of funny thing happening in the US where

1749
01:32:45,080 --> 01:32:47,519
Speaker 3: comedy shows are possibly funnier than they've been in a

1750
01:32:47,560 --> 01:32:50,360
Speaker 3: long time, and it's because of their president, and it's

1751
01:32:50,360 --> 01:32:54,559
Speaker 3: because of this kind of comedians versus the president moment.

1752
01:32:54,920 --> 01:32:57,960
Speaker 3: I think sometimes something happens similar here during a party.

1753
01:32:58,400 --> 01:33:01,640
Speaker 3: Does that a pressureal fear of oppression make comedy a

1754
01:33:01,640 --> 01:33:05,479
Speaker 3: lot more important, and particularly ridiculing people in power.

1755
01:33:09,040 --> 01:33:14,120
Speaker 8: The fear of oppression I don't like. I think ye,

1756
01:33:14,160 --> 01:33:14,599
Speaker 8: I think what.

1757
01:33:17,040 --> 01:33:20,360
Speaker 12: Yeah, it especially if somebody is probably going to say

1758
01:33:20,360 --> 01:33:24,920
Speaker 12: something that that most people disagree with, it makes it.

1759
01:33:24,920 --> 01:33:27,719
Speaker 12: It makes it easier for the comedian to to say

1760
01:33:27,760 --> 01:33:31,800
Speaker 12: something against say the perpetrator, whether it's the president or

1761
01:33:31,840 --> 01:33:36,000
Speaker 12: whoever else is in power, and then that gardeners more support.

1762
01:33:36,240 --> 01:33:40,800
Speaker 12: And I mean in this particular instance, with with what's

1763
01:33:40,840 --> 01:33:43,040
Speaker 12: possibly going on in the space is just maybe the

1764
01:33:43,160 --> 01:33:52,120
Speaker 12: ridiculousness of certain statements. But I think, well, comedy, comedy

1765
01:33:52,160 --> 01:33:55,840
Speaker 12: works better in tragedy because it's you make light out.

1766
01:33:56,120 --> 01:33:59,559
Speaker 12: I mean even as say post a part it whether

1767
01:33:59,560 --> 01:34:02,040
Speaker 12: it was er option or scandals or this, so that

1768
01:34:02,520 --> 01:34:06,720
Speaker 12: it was always a scene where where say comedy or

1769
01:34:06,720 --> 01:34:09,720
Speaker 12: comedian to thrive. I mean we can look even Trevoroa

1770
01:34:09,760 --> 01:34:12,680
Speaker 12: and the bulk of his content with around the guptas

1771
01:34:12,680 --> 01:34:14,640
Speaker 12: and the likes and that was you know, that's a

1772
01:34:14,720 --> 01:34:19,640
Speaker 12: talking point or with the you know, load shedding or

1773
01:34:20,080 --> 01:34:22,760
Speaker 12: whatever the case is. So whatever tragedy there is, whether

1774
01:34:22,800 --> 01:34:26,439
Speaker 12: it's the president or not, that helps. I wouldn't say

1775
01:34:26,720 --> 01:34:30,760
Speaker 12: necessarily we it's fueled by our our tendency not to

1776
01:34:30,840 --> 01:34:32,600
Speaker 12: be Uh what do they call this?

1777
01:34:33,120 --> 01:34:35,479
Speaker 3: You use the specific word oppression?

1778
01:34:35,520 --> 01:34:39,760
Speaker 12: Yeah, opression, not not in that sense, but yes, if

1779
01:34:39,840 --> 01:34:41,880
Speaker 12: if that is sort of tragedy.

1780
01:34:41,880 --> 01:34:44,640
Speaker 8: Then the comedy of I think.

1781
01:34:44,280 --> 01:34:47,120
Speaker 3: Yeah, we've got We've got literally twenty seconds left. Someone

1782
01:34:47,160 --> 01:34:48,759
Speaker 3: comes up to you and says they want to be

1783
01:34:48,760 --> 01:34:51,120
Speaker 3: be a comedian. What do they need to do?

1784
01:34:51,120 --> 01:34:55,600
Speaker 8: Don't do it? Well, yeah, they need to.

1785
01:34:56,280 --> 01:34:59,559
Speaker 12: There's you you you you go about it, open mics,

1786
01:35:00,320 --> 01:35:02,800
Speaker 12: you've got test out your material. It takes years and years.

1787
01:35:03,280 --> 01:35:06,120
Speaker 12: Comedians only take about like five six years before they

1788
01:35:06,240 --> 01:35:08,840
Speaker 12: even get on too certain stage that you'd be able

1789
01:35:08,840 --> 01:35:09,240
Speaker 12: to see them.

1790
01:35:09,240 --> 01:35:11,680
Speaker 8: So it's a lot of hard work, but.

1791
01:35:11,760 --> 01:35:13,400
Speaker 12: It's it's a beautiful journey.

1792
01:35:13,600 --> 01:35:14,320
Speaker 8: Will I enjoy it?

1793
01:35:15,400 --> 01:35:17,000
Speaker 12: But yeah, a lot of hard work, a lot of

1794
01:35:17,000 --> 01:35:19,800
Speaker 12: testing out your material, doing a lot of stuff for

1795
01:35:19,840 --> 01:35:22,880
Speaker 12: free for a long time. Yeah, for before you find

1796
01:35:22,960 --> 01:35:25,559
Speaker 12: your voice and then and people can resonate to them.

1797
01:35:26,080 --> 01:35:28,040
Speaker 3: Fath has been great talking to you. Thank you so much.

1798
01:35:28,080 --> 01:35:31,240
Speaker 3: Wath and Raghi is the award winning comedian at telling

1799
01:35:31,280 --> 01:35:33,800
Speaker 3: you about how he makes his money. Tonight on The

1800
01:35:33,800 --> 01:35:36,960
Speaker 3: Money Show, The Money show.

1801
01:35:37,040 --> 01:35:40,799
Speaker 13: Stevel Protest is brought to you by Abscess cib Discover

1802
01:35:40,960 --> 01:35:44,800
Speaker 13: the latest trends shaping digital assets across Africa Download the

1803
01:35:44,880 --> 01:35:48,120
Speaker 13: as Africa Digital Assets Insights twenty twenty five.

1804
01:35:50,400 --> 01:35:52,920
Speaker 3: Well looking at US markets right now, not a great

1805
01:35:53,000 --> 01:35:54,840
Speaker 3: day the Dow Jones down half of the cent, and

1806
01:35:54,960 --> 01:35:57,759
Speaker 3: Essex downpoint one for the S and P down point

1807
01:35:57,920 --> 01:36:00,800
Speaker 3: two one at the moment, Sofia as I think, and

1808
01:36:00,920 --> 01:36:04,800
Speaker 3: still expectations around interest rates in the United States. We'll

1809
01:36:04,840 --> 01:36:07,920
Speaker 3: be back tomorrow. Look after yourself. Aubrey is next. It's

1810
01:36:08,040 --> 01:36:08,280
Speaker 3: editlor