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

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Speaker 1: oh two. Let's walk lit.

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Speaker 2: All The Money Show with Stephen Curtis is brought to

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Speaker 2: you by abscess CIV. Discover the latest trends shaping digital

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Speaker 2: assets across Africa. Download the ABS Africa Digital Assets Insides

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Speaker 2: twenty twenty five. Good evening, Welcome to the Friday edition

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Speaker 2: of The Money Show. Eight minutes after six. I'm Stephen

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Speaker 2: critis plenty to come, just listening to the EWN news

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Speaker 2: bulletin about the pic defending the investment in Daybreak Farms,

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Speaker 2: and I'm just reminded of so many of the conversations

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Speaker 2: we had when it became so clear what was happening

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Speaker 2: at Daybreak Farms, and particularly the reporting of sabel or Skity,

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Speaker 2: the amazing reporting of Sabael or SKII. It just kept

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Speaker 2: pointing out that you know, he had run these stories

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Speaker 2: and run these stories, and the PIIC did nothing. And

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Speaker 2: now they say, well it was badly managed, yes, but

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Speaker 2: you knew is kind of the point. I'm sure that

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Speaker 2: was pointed out to them by MPs. So the unlisted

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Speaker 2: portfolio of the as he still, I think, is going

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Speaker 2: to just be a controversial issue for quite some time

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Speaker 2: to come. We'll talk ratings agency in Moody's in a moment.

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Speaker 2: George Glenas from ETM Analytics, Look, we're expecting an announcement

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Speaker 2: from Moody's at some point tonight. Often these things are

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Speaker 2: kind of eleven o'clock at night. It's all predicated on

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Speaker 2: sort of New York time. George will know more than I,

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Speaker 2: but I think no one's really expecting an upgrade, even

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Speaker 2: though we did get one from S and P Global.

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Speaker 2: But we'll hear from George Glennas on that in just

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Speaker 2: a moment. A lot of confidence around from farmers at

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Speaker 2: the moment, mainly because of the rains we've seen across

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Speaker 2: most of the country. The Agricultural Business Chamber Chief economists

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Speaker 2: want de Lesa glob or due to be on your

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Speaker 2: radio in about ten minutes from now. I know plenty

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Speaker 2: of people who live in the interior of the country

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Speaker 2: or joe Burg. When you say to them where you're

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Speaker 2: going on the holiday, and they'll almost always say the

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Speaker 2: coast if they're not going home to Lump or maybe

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Speaker 2: to the eastern caple Case. And then they'll say, now

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Speaker 2: I'm going to the coast, and almost immediately after that

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Speaker 2: they'll start to complain about the cost of accommodation. And

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Speaker 2: that's because short term rentals on the coast now have skyrocketed.

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Speaker 2: I mean, there's clearly a market for it. We're talked

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Speaker 2: to Grant Sme from the Only Realty property group about

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Speaker 2: that tonight. And then Marble, the hospitality group, who really

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Speaker 2: have been growing very strongly. They've got a nice sort

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Speaker 2: of little group of companies going in that sort of

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Speaker 2: young Smut's area of Rosebank in joe Burg. They're now

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Speaker 2: looking to add to a hotel to that. There's quite

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Speaker 2: a lot of accommodation in that area already, so looking

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Speaker 2: forward to that conversation. Good to hear from you tonight.

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Speaker 2: O double one DOUAA three oh seven O two two

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Speaker 2: one four four six oh five sixty seven and of

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Speaker 2: course voice notes on oh seven two seven two one

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Speaker 2: seven oh two. Don't forget, by the way, but in

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Speaker 2: about fifteen minutes or so from now forty five minutes

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Speaker 2: or so, the Friday Biz Blitz.

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Speaker 1: The Lonely Show with Stephen krudis live on ninety two

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

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Speaker 1: Media plus NAP and DStv channel eight.

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Speaker 2: Well later tonight, the ratings agency Moodi is expected to

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Speaker 2: issue an update to our credit rating, currently below investment grade.

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Speaker 2: Of course, there was a decision by IS and B

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Speaker 2: Global to give us our first upgrade in twenty years

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Speaker 2: quite recently, but in both cases we still are below

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Speaker 2: investment grade. George blan Us is the head of research

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Speaker 2: at ETM Analytics. George, good evening to you. Do you

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Speaker 2: have any expectations from Moody's tonight. I think it doesn't

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Speaker 2: seem that there's much expectation there will be a.

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Speaker 3: Change, Hi, Steven, Yeah, I think it's more on affirmation

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Speaker 3: that South Africa is moving in a better direction than

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Speaker 3: I think. That's the That's what we're looking that's what

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Speaker 3: we're looking out for. So just for context, that S

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Speaker 3: and P upgrade that we got was more of a

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Speaker 3: catch up to where Moody's already was, So I think

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Speaker 3: it's more of that was more of an alignment to

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Speaker 3: where the other ratings agencies were, and so I think

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Speaker 3: Moody's is reasonably placed. They moved a little bit ahead

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Speaker 3: of SMP in terms of nudging the ratings upward, but

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Speaker 3: I think more interesting than that for me, is going

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Speaker 3: to be the context that they paint to future decisions,

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Speaker 3: and that's going to be about the improvement of South

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Speaker 3: Africa's fiscal space, whether or not they have confidence in

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Speaker 3: National Treasury and the Department of Finance turning around the

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Speaker 3: South Africa's debt trajectory. The market certainly is giving them

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Speaker 3: the benefit of the dart because if I look at

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Speaker 3: bond yields, they've come down tremendously, and I mean, it's

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Speaker 3: really good news to see that happening. It does mean

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Speaker 3: that foreigners are buying into that story. So now we

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Speaker 3: need to see proof we need We're looking for action.

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Speaker 3: We're looking for the authorities to do what they need

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Speaker 3: to do to make sure that they reach the kind

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Speaker 3: of targets and promises that they've put out there. And

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Speaker 3: I think if they do that and we've got positive

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Speaker 3: artlooks from both S and P Moody's and may even fetch,

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Speaker 3: then I think we can start talking about the potential

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Speaker 3: for another upgrade next year.

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Speaker 2: I mean, obviously, presumably we can argue about the sort

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Speaker 2: of this element in that element, but if a country

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Speaker 2: is trending in a particular direction, you would expect the

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Speaker 2: ratings agencies, you'd expect all of them to reflect that eventually,

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Speaker 2: whether it's down or.

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Speaker 3: Up, well, exactly right, And I mean this has been

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Speaker 3: a good year. You know, say what you like about

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Speaker 3: the GNU and whether it's fractious, and you know, difficult

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Speaker 3: to always see it as a as a smooth coalition,

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Speaker 3: but it's held together and holding it together has also

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Speaker 3: seems to have improved accountability to some degree. At the

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Speaker 3: same time, there's been a lot of efforts on the

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Speaker 3: part of National Treasury and other departments to get us

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Speaker 3: off the gray list. That was another really big move.

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Speaker 3: And even if we have a look at the data

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Speaker 3: that came out yesterday in the form of the current

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Speaker 3: account data, you know you see a country that's living

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Speaker 3: within its means, that doesn't require hea the borrowing from

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Speaker 3: a broad to plug any of the deficits. These all

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Speaker 3: speak to a sustainability which is important. So yeah, if

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Speaker 3: you get if you get the message right and follow

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Speaker 3: that up with some action to rain and that that

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Speaker 3: fiscal expenditure, which at one point just seemed to be

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Speaker 3: out of out of political control, then then if you

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Speaker 3: if you can get that right and the market buys

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Speaker 3: into it, you can kick start to virtual cycle. And

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Speaker 3: it may be a little premature for me to call

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Speaker 3: it that, but I am seeing the green shoots of

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Speaker 3: a virtual cycle, and you can see that in a

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Speaker 3: way that bond yields have performed, the way the JC

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Speaker 3: has done a whole lot better, and the way that

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Speaker 3: the ram's performing at the moment as well.

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Speaker 2: Isn't it really? I mean, what you what we really

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Speaker 2: need to see and what surely would change the ratings

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Speaker 2: is growth. If we get say, two percent growth rather

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Speaker 2: than kind of one one and one point, Yeah, that

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Speaker 2: I presume changes everything.

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Speaker 3: So I think it's a mix. You need to try

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Speaker 3: and achieve that growth, while at the same time I'm

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Speaker 3: ensuring that you've got enough fiscal discipline that you don't

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Speaker 3: allow a government to spend too aggressively. Ideally, the way

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Speaker 3: that you would achieve that is by allowing the or

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Speaker 3: crowding in the private sector into a lot of these

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Speaker 3: network industries, which is what is happening at the moment.

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Speaker 3: That's what operations will in lel US about. So I

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Speaker 3: think if we gain some traction on that front and

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Speaker 3: rely more heavily on the private sector to generate some

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Speaker 3: of that GDP growth whilst at the same time just

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Speaker 3: keeping a control, keeping a lid on wasteful expenditure and

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Speaker 3: extracting efficiencies. You know, that can go a long long

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Speaker 3: way to just boosting that GDP growth that you're talking about,

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Speaker 3: whilst at the same time containing the debt trajectory. And

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Speaker 3: you get that right, then investment grade becomes a possibility.

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Speaker 3: Up until now, that's been very difficult to come by,

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Speaker 3: and it's been frustrating to sit on the sidelines looking in,

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Speaker 3: understanding where the positive dynamics lie and watching a government

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Speaker 3: not doing it. But I think we've gotten ourselves to

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Speaker 3: a point where quite literally the government ran out of

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Speaker 3: money and had to think about things differently, and almost

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Speaker 3: as a result of that, I think we have now

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Speaker 3: been nudged in the right direction, and I think it's

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Speaker 3: starting to shut up, not in the markets, not just

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Speaker 3: in the markets, but in the writings upgrade as well.

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Speaker 2: The benefits of an open system does push reform in

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Speaker 2: the end. George Lennels, thanks very much, head of research

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Speaker 2: at ETM Analytics. Sixteen minutes after six two Stephen's on

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Speaker 2: the Money Show six to eight pm more daughta ount

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Speaker 2: today showing our farmers are pretty confident about the future.

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Speaker 2: The agbis id C AGRI Business Confidence Index rising quite strongly.

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Speaker 2: When dele Sef Glowboards, the chief economist at the Agricultural

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Speaker 2: Business Chamber, one dlay good evening, a very wet November.

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Speaker 2: If I may say, sitting here in my Johannesburg studio,

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Speaker 2: I presume that's one of the reasons farmers are so confident.

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Speaker 4: Stephen Rain brings grain, so that very wet November is

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Speaker 4: helping us a great grain farmers, aill seed farmers, food

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Speaker 4: as well as the vegetable ones. They've had a good season,

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Speaker 4: and I'm talking now about the twenty twenty four twenty

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Speaker 4: five production season. But even now, looking ahead twenty five

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Speaker 4: twenty six, it looks like things will be good for

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Speaker 4: us and Steven. We are also going to be embarking

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Speaker 4: on vaccinating twelve million ahead of cattle across this country.

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Speaker 4: And I think the news just of that because food

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Speaker 4: and mouth disease has been an issue, added to this optimism.

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Speaker 4: So things are looking fairly well and the sentiment is

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Speaker 4: quite a bit in the sector.

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Speaker 2: How important a vaccine has been, because for some time

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Speaker 2: it seemed we didn't have any We had to get

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Speaker 2: it from Botswana, and I've heard some frustration that has

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Speaker 2: been a bit slow.

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Speaker 4: It had been slow, Steven, But what this crisis brought

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Speaker 4: to bear was the fact that we needed to kick

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Speaker 4: start our own vaccination capabilities because it's not like we

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Speaker 4: don't know how to do these things, but we lost

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Speaker 4: a couple of city during their state capture. Now at

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Speaker 4: their Agricultural Research Council and OBP will kick studying that.

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Speaker 4: But also the conversation and the imports from Botswana continue,

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Speaker 4: but also we look in other areas Turkey and others

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Speaker 4: to ensure that they assist us in this effort. And

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Speaker 4: that's just one part. And I think it's important that

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Speaker 4: we talk about it because livestock is about half of

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Speaker 4: our farming economy. But Steven, you look, you put that aside,

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Speaker 4: and you say, the folks in fruit, in grain farming

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Speaker 4: in all seats, how have they been doing. We had

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Speaker 4: the second largest maize crop on record record, solbing crop

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Speaker 4: and various fruits also did well, and our ports showed

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Speaker 4: a bit of improvement and efficiency. I was just listening

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Speaker 4: to you and speaking now where you are talking about

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Speaker 4: Operation Wiling, like those gains that he was mentioning is

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Speaker 4: what actually assisted us, because we are just looking at

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Speaker 4: another data point the first three quarters of this year

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Speaker 4: in terms of agricultural exports and Stevin, we are up

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Speaker 4: ten percent at about thirteen point seven billion US dollars,

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Speaker 4: and I think for twenty twenty five our agricultural exports

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Speaker 4: will cross fourteen billion US dollars for the first time,

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Speaker 4: so a really good period so far.

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Speaker 2: Rain brings grain, does it listen? The financial pain our

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Speaker 2: food prices are internationalized doesn't always mean that we will

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Speaker 2: get lower food prices.

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Speaker 4: It's good to be a consumer today, Steven, because even

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Speaker 4: internationally there is a record with crop. Global grain prices

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Speaker 4: are also down to the extent that if you look

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Speaker 4: at the grain prices today MAIS prices, they are down

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Speaker 4: roughly thirty percent from a year ago. So this moderating

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Speaker 4: path on food price inflation that we've been seeing, it's

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Speaker 4: something that we think will continue into the next year.

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Speaker 4: But of course, so the farmers, it does also mean

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Speaker 4: that that cooling of the commodity prices reduces the possibilities

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Speaker 4: for profit. So making sure that the guys get better

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Speaker 4: yields is something that they will need to focus on

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Speaker 4: in this country still in a contract to some who

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Speaker 4: that say that bad things happening in farming, farmers are

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Speaker 4: actually planning and doing so well, and I think that

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Speaker 4: they will be all able to cope with some of

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Speaker 4: these difficulties.

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Speaker 2: Wonderlicit. Phobert always good to hear from you, Thanks so much.

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Speaker 2: On Delicy Floorball is the chief economist at the Agricultural

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Speaker 2: Business Chamber.

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Speaker 1: The Money Show explainer.

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Speaker 2: I don't know if you spend any time looking for

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Speaker 2: a place to say, at the coast over the Christmas period.

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Speaker 2: If you're going home over December, you're probably staying with

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Speaker 2: family or in your real home. But if you're going

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Speaker 2: on holiday, you'd likely to spend a fortune. Particularly, I

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Speaker 2: mean the obvious place would be Plettenberg Bay, sometimes in Casa,

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Speaker 2: then at some places in the Eastern Cape. Grant Sme

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Speaker 2: is the CEO of the only realty property group Grant

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Speaker 2: Good Evening. I mean, I hear stories over this time

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Speaker 2: of year this guy goes and takes his family and

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Speaker 2: camps in a tent in a field at the edge

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Speaker 2: of town, rents out his house, makes a fortune. Ah,

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Speaker 2: those kinds of stories true.

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Speaker 5: I think it's a bit of an exaggeration in terms

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Speaker 5: of just dumping a tent tom nowhere. But I think

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Speaker 5: a lot of people do take advantage of the fest

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Speaker 5: a season to increase or provide shorts accommodation to vacationers

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Speaker 5: and make some money while they're on holiday.

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Speaker 2: What happens to short term rental pricing, I presume it

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Speaker 2: jumps the moment that someone mentions the name December fastus.

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Speaker 5: It jumps, particularly the coastal regions as what as areas

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Speaker 5: around a croud National Park where it's really attracted for

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Speaker 5: people's commute from karating and have a bit of a holiday.

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Speaker 5: So those coastal regions like you said, Plettenberg Bay, Cape Town,

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Speaker 5: even the north coast of Casavent, those prices really do

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Speaker 5: jump during December January.

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Speaker 2: I would imagine it really helps some people finance their homes.

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Speaker 2: They're able to make a lot of money over the

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Speaker 2: Christmas period. You rented out for a month, two weeks

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Speaker 2: and two weeks for example, to do different people, you

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Speaker 2: could suddenly make a huge then in your bond.

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Speaker 5: Absolutely. I think you know there's laser stories out there

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Speaker 5: where people have certainly taken advantage of the fest season

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Speaker 5: bump and made a lot of money, and in excess

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Speaker 5: so in some stories of their entire mortgage payments for

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Speaker 5: the entire year. So there is a big opportunita for

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Speaker 5: people with citic accommodation in the right areas to make

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Speaker 5: a lot of money in the short term.

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Speaker 2: Are people looking now at buying properties with this in

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Speaker 2: mind thinking well, I would not have been able to

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Speaker 2: afford a property otherwise, but now the demand is so

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Speaker 2: great that actually I'll be able to make enough that

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Speaker 2: I'll be able to make this work.

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Speaker 5: Definitely, I think you a short term lettings as an opportunity,

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Speaker 5: and shortened letting properties have become its own investment class

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Speaker 5: in the property sector, and people are certainly looking at

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Speaker 5: properties looking at the shorter meals that they can be

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Speaker 5: get or achieved, and looking at buying properties that really

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Speaker 5: are entirely focused on the shorter market.

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Speaker 2: Which are the big hotspots. I mean, everyone tells me

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Speaker 2: it's Plettenberg Bay. I presume there are others.

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Speaker 6: Absolutely.

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Speaker 2: I mean Cetainburg Bay.

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Speaker 5: The Garden who is a certainly popular Cape town, goes

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Speaker 5: about saying that that that Atlantic seaboard and you are

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Speaker 5: really really popular, as well as the west coast of

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Speaker 5: Cape Town, so that Bloberg area is really really popular.

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Speaker 5: But then you've got areas you know, Men and santon

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Speaker 5: Stall remain interesting for professional travelers. And then you put

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Speaker 5: the north coast again of Kazaden Belito and north of

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Speaker 5: that that is very very popular in getting more popular

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Speaker 5: over time.

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Speaker 2: Who's coming in to sort of use all of this property?

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Speaker 2: I mean, obviously there'll be some people from punting, but

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Speaker 2: are you also finding there's a big international market certainly?

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Speaker 5: I mean, you know again, the digital nomad sort of

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Speaker 5: movement is massive. I mean, and this is particularly for

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Speaker 5: Cape Town. There's a huge movement for digital nomads and

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Speaker 5: that's all the round, which is a big advantage for

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Speaker 5: short term and then how things and professionals that are

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Speaker 5: looking to stay in properties that are are more homely

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Speaker 5: versus staying in hotels. So I think there's there's a

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Speaker 5: combination of different users of the and that's important for

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Speaker 5: short term investors to focus on a divert market to

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Speaker 5: make sure they get maximize returns.

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Speaker 2: Are you expecting this to continue growing? I mean there

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Speaker 2: must be some limits somewhere.

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Speaker 5: Yes, I think, you know again, Cape sounds for twenty

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Speaker 5: nine thousand EB and B units I think there's a

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Speaker 5: limitation of where it can go there, but there's big

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Speaker 5: opportunities in other regions where it's taken time to or

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Speaker 5: audotion a takend bit of time. So I do think

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Speaker 5: there's a massive growth opportunity. The one limiting factor could

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Speaker 5: be regulations coming into the market. So the city of

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Speaker 5: Cape Town itself and other municipalities we're looking at limiting

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Speaker 5: and regulating short term letting, and I think that's one

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Speaker 5: thing that we're going to have to watch care for

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Speaker 5: to make sure that they aren't overregulating that market and

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Speaker 5: limiting the opportunity for shorten investors.

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Speaker 2: I mean, certainly in Cape TOWND. My sense of the

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Speaker 2: sentiment is that there's a lot of anger moving against

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Speaker 2: the sort of airbn B crowd simply because there's pricing

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Speaker 2: Cape Tonians out of their own city.

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Speaker 5: Yes, I mean, the shor term market certainly has, especially

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Speaker 5: in the half season, prices people out and pushes long

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Speaker 5: term rentals through the roof. It all seem packs the

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Speaker 5: property values as because shorter meals are so much higher,

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Speaker 5: it makes properties really attractive as investors and they're willing

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Speaker 5: to pay a premium. So it definitely is having an impact,

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Speaker 5: but I think the economic benefit to the city and

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Speaker 5: individuals in the city also must be counted into that,

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Speaker 5: where although locals have been priced after market, it's bringing

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Speaker 5: massive economic activity to that market. So again that sort

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Speaker 5: of speaks to the balance of between economic benefits and

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Speaker 5: regulation or potential overregulation.

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Speaker 2: I mean, it's so interesting to sort of watch all

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Speaker 2: of this play out. I mean, I wouldn't be surprised

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Speaker 2: if we get some international investors buying property in Cape

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Speaker 2: Town because they can start quite small and round currency

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Speaker 2: terms and build up a really big Portfoilio.

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Speaker 5: Yeah, I think you know, the athletic sityboarding particular has

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Speaker 5: always gost. This has always been framed as a big

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Speaker 5: foreign buyer market, whereas a last year only four percent

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Speaker 5: of properties in that area were bought by foreign buyers.

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Speaker 5: So that doesn't mean you're right that there's a massive

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Speaker 5: growth curve potential for foreign buy coming into the market

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Speaker 5: using the strength of the currency with a high yield

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Speaker 5: and coming that space. So that's why one of the

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Speaker 5: reasons why I think kp ton prices haven't stopped increasing,

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Speaker 5: They're going to continue increasing for sueable.

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Speaker 2: Future grants me thanks very much, Sea of the only

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Speaker 2: realty property group No money show. Grant Nata is portfolio

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Speaker 2: manager Beinguerla Global Fund Managers. Grant. Good evening news out

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Speaker 2: of Diskim Ivan Saltzman. He's been running the company since

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Speaker 2: nineteen seventy eight. He's still executive director. He'll no longer

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Speaker 2: be an executive director, but will become a non exec

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Speaker 2: next year. He's had such a good run at the skeem.

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Speaker 6: Yeah, indeed, good evening, Stephen. I mean, it's really amazing

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Speaker 6: the business they've built from a small family business, have

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Speaker 6: builted up, corporatized it, put structures in place, and they

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Speaker 6: continue to grow and continue to roll out expansion plans.

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Speaker 6: Of course, his sons are still involved. The family is

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Speaker 6: still very much involved. But you know, it takes a

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Speaker 6: big person to step away from your baby that you've

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Speaker 6: built up over all these years. So massive respect to

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Speaker 6: him and the family. And we need these kind of

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Speaker 6: entrepreneurs in South Africa. So so really a great story

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Speaker 6: to tell there.

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Speaker 2: I wonder what he'll do at the time. And precious

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Speaker 2: metal is still looking quite strong. I mean gold. We've

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Speaker 2: discussed the sort of gold a rally, you know, in

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Speaker 2: such depth. I mean a new gold mine open and

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Speaker 2: the advances run this week, and yet it still really matters,

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Speaker 2: and there still seems to be so much consistent power

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Speaker 2: behind it.

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Speaker 6: Yeah, I mean, it is quite phenomenal. And there's clearly

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Speaker 6: a lot of different demand drivers for gold and platinum.

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Speaker 6: The PGM is obviously a very different story what's driving them.

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Speaker 6: But you know, gold, I think there's a fundamental shift

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Speaker 6: away from the dollar, and of course the dollar is

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Speaker 6: such a big part of the global economy that it

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Speaker 6: doesn't take a lot to move the needle in gold,

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Speaker 6: and so there's a perpetual bid. We've got continuing diversification

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Speaker 6: away from the rest of the world, and of course

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Speaker 6: you see a cloud in markets as well, in my opinion,

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Speaker 6: and it's not just a gold story. It's really just

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Speaker 6: gold is the easiest reflection of the greater geopolitical you

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Speaker 6: know split that's taking places.

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Speaker 2: The rand consistently now for the last twenty four hours

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Speaker 2: below seventeen round to the dollars seventeen ninety two, I

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Speaker 2: think last time I checked. Obviously there's a little bit

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Speaker 2: of dollar weakness, but we heard last night a lot

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Speaker 2: of it actually is our good story exactly.

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Speaker 6: I mean, I think we cannot underestimate the good the

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Speaker 6: ram strengths here. So the rand has strengthened against all

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Speaker 6: major currencies, not as much as against the dollar, which

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Speaker 6: has been obviously a week a week currency this year.

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Speaker 6: But the we've got a good story to tell. You know,

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Speaker 6: the long bourunder tenure has moved from eleven thirty and

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Speaker 6: roughly eleven thirty at the start of this year to

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Speaker 6: now around eight thirty. That's a three percent move. The

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Speaker 6: cost of or the saving on three percent on your

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Speaker 6: debt is unbelievable. So it's a massive sentiment shift. It's

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Speaker 6: very positive for the economic outlooks. It talks to a

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Speaker 6: strong terms of trade supported by all of these commodity prices,

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Speaker 6: and it's good for the banking sector. You know, the

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Speaker 6: cost of borrow for them goes down, which then feeds

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Speaker 6: through into the broader economy. So there's a positive knock

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Speaker 6: on effect and hopefully we see that continue. And even

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Speaker 6: if you look at the market under the surface, yes,

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Speaker 6: the metals are getting all the limelight, the gold, the platinum,

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Speaker 6: but under the surface you've see new highs in the banks,

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Speaker 6: you see new highs in the insurers. You know, there's

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Speaker 6: definitely demand, a positive sentiment feeding through into the broader

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Speaker 6: South African well, at least in a financial services sector,

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Speaker 6: because that's your first transmission mechanism of these macro effectors.

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Speaker 2: We heard earlier. No one's rarely expecting a sort of

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Speaker 2: ratings upgrade from Moody's tonight really in the commentary, but

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Speaker 2: I mean, going into it, there is some momentum, and

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Speaker 2: that was quite a good bond auction.

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Speaker 6: Today it seems, yeah, very strong bond auction, the three

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Speaker 6: and a half billion eurobond auction, very well supported when

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Speaker 6: it does again talk to the positive sentiment, and I

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Speaker 6: think you know what's really encouraging is there's a broader

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Speaker 6: emerging market mood swing out there. People are looking for

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Speaker 6: returns that are strong in dollars and you're getting that

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Speaker 6: outside of the US. And I think there's still a

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Speaker 6: long way to go in this journey. Despite the massive

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Speaker 6: move we've had this year thirty seven percent in our market,

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Speaker 6: the essay stocks are still cheap. There's plenty of room

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Speaker 6: to run if we see this momentum continue. And of

436
00:22:26,840 --> 00:22:29,400
Speaker 6: course another upgrade or even just talking about it upgrade

437
00:22:29,960 --> 00:22:33,240
Speaker 6: has it knocks on into the confidence of the business sector.

438
00:22:33,280 --> 00:22:36,000
Speaker 6: They then start to open the purse, maybe invest a

439
00:22:36,000 --> 00:22:40,399
Speaker 6: little more government infrastructure plans of starting to take route

440
00:22:40,480 --> 00:22:44,320
Speaker 6: and this becomes a virtuous cycle. So I'm optimistic. I

441
00:22:44,320 --> 00:22:46,439
Speaker 6: think it's a slow grind, but I think we're moving

442
00:22:46,720 --> 00:22:50,080
Speaker 6: in the right direction and we're seeing at first represented

443
00:22:50,119 --> 00:22:51,800
Speaker 6: in the currency and the bonds.

444
00:22:52,000 --> 00:22:55,520
Speaker 2: Grant NATA. Thanks very much, indeed, portfolio manager Binguerlo Global

445
00:22:55,640 --> 00:22:57,879
Speaker 2: Fund Managers, bringing the time to six thirty.

446
00:22:58,280 --> 00:23:03,560
Speaker 7: What's up to steven seven two one, seven oh two.

447
00:23:03,720 --> 00:23:06,199
Speaker 2: We're good to hear from you tonight. News coming out

448
00:23:06,240 --> 00:23:09,560
Speaker 2: of the US that Netflix is buying Warner Brothers and

449
00:23:09,600 --> 00:23:11,960
Speaker 2: this is part of a much bigger shift that we're

450
00:23:11,960 --> 00:23:15,159
Speaker 2: seeing in the United States and the entertainment industry there. Dorry.

451
00:23:15,200 --> 00:23:16,920
Speaker 2: I'll get to why it matters to you in a moment,

452
00:23:17,160 --> 00:23:20,200
Speaker 2: because we've seen consolidation, we've seen other deals going through

453
00:23:20,240 --> 00:23:24,320
Speaker 2: involving sky Dance. Occasionally these lead to political fights because

454
00:23:24,320 --> 00:23:27,359
Speaker 2: sometimes the US regulators have to approve the deal or

455
00:23:27,359 --> 00:23:32,040
Speaker 2: the merger. That gives the Trump administration's person at the FCC,

456
00:23:32,240 --> 00:23:34,640
Speaker 2: the sort of Federal Communications Commissioned a little bit of power,

457
00:23:34,680 --> 00:23:37,199
Speaker 2: and he uses it and he's not shy to use it,

458
00:23:37,240 --> 00:23:39,960
Speaker 2: and we've seen all of that. But what it does

459
00:23:40,080 --> 00:23:42,680
Speaker 2: mean is that it might well affect what you get

460
00:23:42,720 --> 00:23:46,080
Speaker 2: to watch on your phone. And I say this because Netflix,

461
00:23:46,119 --> 00:23:48,640
Speaker 2: obviously if they're buying all of that content, then they're

462
00:23:48,640 --> 00:23:51,920
Speaker 2: buying HBO Max's content as well well. Then it could

463
00:23:51,920 --> 00:23:54,880
Speaker 2: well come to a phone near you. And at the

464
00:23:54,920 --> 00:23:57,119
Speaker 2: same time, one of the sort of things I'll be

465
00:23:57,160 --> 00:24:00,399
Speaker 2: looking for in kind of January February next year is

466
00:24:00,440 --> 00:24:03,560
Speaker 2: what comes out of Canoe Plus. There are all sorts

467
00:24:03,560 --> 00:24:06,680
Speaker 2: of issues they have actually with Warner Brothers. As it happens,

468
00:24:06,720 --> 00:24:09,040
Speaker 2: they're going to take CNNs and the other channels off

469
00:24:09,320 --> 00:24:11,560
Speaker 2: from the first of January. They haven't reached an agreement.

470
00:24:12,000 --> 00:24:15,080
Speaker 2: But more than that is that Cannel Plus we know

471
00:24:15,280 --> 00:24:18,320
Speaker 2: the new owners of DStv have said they basically think

472
00:24:18,359 --> 00:24:21,199
Speaker 2: there needs to be a revamp of the offering from DStv.

473
00:24:21,480 --> 00:24:23,760
Speaker 2: They've been offering lots of special deals. If you get

474
00:24:24,000 --> 00:24:25,880
Speaker 2: I think it's a compact or one of the sort

475
00:24:25,880 --> 00:24:28,760
Speaker 2: of lower priced packages, you get the full premium price

476
00:24:28,800 --> 00:24:32,240
Speaker 2: for pre premium package for free. That's not sustainable because

477
00:24:32,240 --> 00:24:35,080
Speaker 2: eventually premium people will sort of go down and you'll

478
00:24:35,320 --> 00:24:39,040
Speaker 2: lose revenue. What I'm looking for to next year is

479
00:24:39,080 --> 00:24:42,640
Speaker 2: what bundles they offer and whether they include Netflix. What

480
00:24:42,680 --> 00:24:45,800
Speaker 2: that would mean then, according to them, is you would

481
00:24:45,800 --> 00:24:47,960
Speaker 2: have one app, which would be a sort of DStv

482
00:24:48,119 --> 00:24:51,560
Speaker 2: Canoe Plus app. You get Netflix content on there, and

483
00:24:51,600 --> 00:24:54,920
Speaker 2: suddenly all of that Warner Brothers material starts to come back.

484
00:24:55,400 --> 00:24:57,480
Speaker 2: There's a lot going on in this industry at the moment,

485
00:24:57,520 --> 00:25:00,359
Speaker 2: and I've watch it very closely. If I wu what

486
00:25:00,480 --> 00:25:04,600
Speaker 2: the many show the Friday File sixteen minutes to seven,

487
00:25:04,640 --> 00:25:07,760
Speaker 2: if you've spent any time driving through Rosebank in joe Burg,

488
00:25:08,119 --> 00:25:10,840
Speaker 2: you'll know how big a presence the Marble Group has become.

489
00:25:10,880 --> 00:25:14,040
Speaker 2: One of the major arteries. Jan Smyth's avenue is the pantry.

490
00:25:14,040 --> 00:25:17,320
Speaker 2: There's a petrol station that sells well, I suppose anything

491
00:25:17,320 --> 00:25:20,040
Speaker 2: that's pretty much high end behind it's sort of above

492
00:25:20,040 --> 00:25:23,320
Speaker 2: it really Marble the restaurant. The few times I've been there,

493
00:25:23,359 --> 00:25:25,800
Speaker 2: I've basically seen the elite of joe Berg's business scene.

494
00:25:25,800 --> 00:25:28,639
Speaker 2: There are other outlets, of course, and now the group

495
00:25:28,640 --> 00:25:30,639
Speaker 2: has plans to build a brand new hotel at the

496
00:25:30,680 --> 00:25:34,880
Speaker 2: Olympus in Santon. Do you know Constantu is the operations

497
00:25:34,920 --> 00:25:37,119
Speaker 2: manager for the Marble group. Do you know, good evening

498
00:25:37,119 --> 00:25:39,119
Speaker 2: and so much thanks for your time. I know Friday

499
00:25:39,160 --> 00:25:41,399
Speaker 2: is a busy time for you guys. We've seen you

500
00:25:41,440 --> 00:25:43,960
Speaker 2: doing well in Cape Town and joe Burg, particularly in

501
00:25:44,040 --> 00:25:48,119
Speaker 2: food and restaurants. Now a hotel, what informs the idea

502
00:25:48,160 --> 00:25:49,880
Speaker 2: behind building a new hotel?

503
00:25:51,080 --> 00:25:53,000
Speaker 8: Yes, Stephen, thanks so much for having me on. It's

504
00:25:53,040 --> 00:25:55,360
Speaker 8: told to be on the show. I mean, you'd think

505
00:25:55,359 --> 00:25:57,760
Speaker 8: were busy enough, so you know, we're just adding all

506
00:25:57,800 --> 00:26:01,760
Speaker 8: this extra extra pressure. But I think a hotel is,

507
00:26:02,320 --> 00:26:06,040
Speaker 8: you know, it's the pinnacle of hospitality, and when the

508
00:26:06,040 --> 00:26:09,439
Speaker 8: opportunity comes along to do something like this in a

509
00:26:09,480 --> 00:26:14,160
Speaker 8: building like the Olympus in Santon, it is very very

510
00:26:14,160 --> 00:26:17,720
Speaker 8: hard to say no to it. A big challenge, but

511
00:26:17,840 --> 00:26:19,760
Speaker 8: a challenge that'd be very excited to take on.

512
00:26:20,200 --> 00:26:20,720
Speaker 2: So yeah.

513
00:26:20,960 --> 00:26:21,440
Speaker 8: Interesting.

514
00:26:21,680 --> 00:26:24,320
Speaker 2: I mean one of the things that your other operations,

515
00:26:24,320 --> 00:26:26,560
Speaker 2: your other outlets do is they managed to stand out

516
00:26:26,560 --> 00:26:29,639
Speaker 2: a little bit from the crowd. There are competitors in

517
00:26:29,840 --> 00:26:31,800
Speaker 2: sort of the high market, the sort of high end

518
00:26:31,840 --> 00:26:34,040
Speaker 2: of the market. How do you intend to do that

519
00:26:34,080 --> 00:26:36,560
Speaker 2: with hotels? There are plenty of other hotels In sentences,

520
00:26:36,640 --> 00:26:37,880
Speaker 2: I'm sure you're aware.

521
00:26:38,560 --> 00:26:41,159
Speaker 8: Yes, yes, yes, you know, I think just like the

522
00:26:41,560 --> 00:26:45,879
Speaker 8: restaurants when we first opened Marble going on to almost

523
00:26:45,880 --> 00:26:49,240
Speaker 8: ten years ago now, we stepped into a space obviously

524
00:26:49,320 --> 00:26:52,720
Speaker 8: highly competitive, and the idea from the get go was,

525
00:26:52,760 --> 00:26:54,800
Speaker 8: you know, what do we do different to everyone else?

526
00:26:54,840 --> 00:26:58,159
Speaker 8: And I think the restaurants gave us that platform to

527
00:26:58,240 --> 00:27:03,800
Speaker 8: show people popper hostpitspitality, consistent hospitality, and that extends far

528
00:27:03,920 --> 00:27:07,960
Speaker 8: further than just food. You know, it's the entire experience.

529
00:27:08,440 --> 00:27:11,359
Speaker 8: And I think when you think of hotels, there again

530
00:27:11,480 --> 00:27:14,520
Speaker 8: is that opportunity on how do you take the current

531
00:27:14,600 --> 00:27:18,880
Speaker 8: landscape of hotels in Joeburg, in Santin and just sort

532
00:27:18,880 --> 00:27:21,680
Speaker 8: of elevate that and give the level of service. And

533
00:27:21,840 --> 00:27:25,080
Speaker 8: I think we've become quite quite good at in the restaurants,

534
00:27:25,480 --> 00:27:27,800
Speaker 8: and you know, taking that kind of secret source and

535
00:27:27,840 --> 00:27:31,520
Speaker 8: applying it to restaurants. Obviously there's all this, you know,

536
00:27:31,680 --> 00:27:34,840
Speaker 8: the design and making a beautiful space. I mean, that's

537
00:27:34,880 --> 00:27:37,199
Speaker 8: almost a given, that's sort of what we do. But

538
00:27:37,240 --> 00:27:40,320
Speaker 8: I definitely think it's that hospitality element that we're going

539
00:27:40,359 --> 00:27:42,959
Speaker 8: to bring to the hotel space that will make us

540
00:27:42,960 --> 00:27:43,960
Speaker 8: different to everyone else.

541
00:27:44,680 --> 00:27:46,520
Speaker 2: I mean, it's interesting to hear you talk about that

542
00:27:46,600 --> 00:27:50,119
Speaker 2: it's the way that you are greeted by the person

543
00:27:50,520 --> 00:27:52,479
Speaker 2: who gets the lift for you when you arrive at

544
00:27:52,480 --> 00:27:55,600
Speaker 2: the restaurant. But in the hotel there are a lot

545
00:27:55,720 --> 00:27:58,919
Speaker 2: more people doing a lot more things. I mean, I

546
00:27:58,960 --> 00:28:01,320
Speaker 2: realize rest ttaurants at your end of the market are

547
00:28:01,359 --> 00:28:03,720
Speaker 2: big operations. I get that they employ a lot of people,

548
00:28:04,840 --> 00:28:07,160
Speaker 2: but hotels, I would imagine probably more.

549
00:28:08,119 --> 00:28:10,960
Speaker 8: Well, you're actually making me nervous. Now, let's just say that,

550
00:28:11,000 --> 00:28:15,840
Speaker 8: I you know what, I think you're right absolutely, you

551
00:28:15,880 --> 00:28:19,600
Speaker 8: know you're looking off the guests, international guests on their stay.

552
00:28:20,720 --> 00:28:22,800
Speaker 8: There's a lot more involved with it. But I think

553
00:28:22,840 --> 00:28:26,360
Speaker 8: when you break it down in the simplest form, you're

554
00:28:26,359 --> 00:28:28,879
Speaker 8: trying to give these these people and these guests a

555
00:28:29,000 --> 00:28:32,280
Speaker 8: home away from home. And if you can get that right,

556
00:28:32,320 --> 00:28:35,639
Speaker 8: And you've just now that it's from making the reservation

557
00:28:35,840 --> 00:28:38,880
Speaker 8: to your arrival, to how the room looks and how

558
00:28:38,920 --> 00:28:41,400
Speaker 8: the room is kept. And I think even before you arrive,

559
00:28:41,440 --> 00:28:43,720
Speaker 8: you know, reaching out to the guests and getting their

560
00:28:43,760 --> 00:28:46,520
Speaker 8: preferences on what they once stopped in their many by

561
00:28:46,560 --> 00:28:48,680
Speaker 8: and going as far as to asking them, you know,

562
00:28:48,720 --> 00:28:50,840
Speaker 8: what kind of pillow do you prefer to sleep on?

563
00:28:50,920 --> 00:28:54,720
Speaker 8: You know, so definitely complex, but a challenge that I

564
00:28:54,760 --> 00:28:59,600
Speaker 8: think we are very much up for and probably experienced

565
00:28:59,680 --> 00:29:01,640
Speaker 8: enough to hopefully pull it off.

566
00:29:02,240 --> 00:29:04,560
Speaker 2: What kind of traveler are you going to be aiming for?

567
00:29:04,640 --> 00:29:09,080
Speaker 2: I mean, I would imagine in Santin you're probably looking

568
00:29:09,280 --> 00:29:13,480
Speaker 2: at at the international traveler. Maybe someone from Durban. Maybe

569
00:29:13,480 --> 00:29:15,240
Speaker 2: there's a bit of a mark I mean, maybe someone

570
00:29:15,240 --> 00:29:16,840
Speaker 2: from Cape Town. Maybe there's a bit of a market

571
00:29:16,880 --> 00:29:19,480
Speaker 2: from Durban, but most of the international.

572
00:29:20,360 --> 00:29:23,640
Speaker 8: I would say, so, yes, absolutely, It's tricky. You know,

573
00:29:23,720 --> 00:29:26,120
Speaker 8: being in a building like that, you're automatically sort of

574
00:29:26,840 --> 00:29:29,800
Speaker 8: you know, categorized as a as a business sort of

575
00:29:29,840 --> 00:29:33,600
Speaker 8: traveler or business hotel, and we actually, you know, our

576
00:29:33,680 --> 00:29:36,920
Speaker 8: initial conversations and idea was to try and steer away

577
00:29:36,920 --> 00:29:38,840
Speaker 8: from that. So you don't want to be put into

578
00:29:38,880 --> 00:29:41,320
Speaker 8: a box and say this is only all business travelers

579
00:29:41,360 --> 00:29:43,680
Speaker 8: for you know, be one of sort of cater for everyone.

580
00:29:44,040 --> 00:29:47,520
Speaker 8: Obviously it is probably going to lean more towards that

581
00:29:47,600 --> 00:29:51,360
Speaker 8: kind of a traveler. But your international guests, I think

582
00:29:51,360 --> 00:29:55,040
Speaker 8: of guys arriving in Joeberg from overseas Cape time has

583
00:29:55,080 --> 00:29:58,080
Speaker 8: a pleasuri of options. Really, this you know, you can't,

584
00:29:58,160 --> 00:30:00,960
Speaker 8: you can't really this just way too many. But in

585
00:30:01,040 --> 00:30:05,000
Speaker 8: Joe Bird, yes there is a few, there's some great ones.

586
00:30:05,320 --> 00:30:08,440
Speaker 8: But I really think in sand and Central exactly where

587
00:30:08,440 --> 00:30:12,320
Speaker 8: we are, there isn't really anybody offering what we are

588
00:30:12,360 --> 00:30:13,000
Speaker 8: going to do there.

589
00:30:14,040 --> 00:30:16,360
Speaker 2: And I do want to talk about some of your

590
00:30:16,360 --> 00:30:18,680
Speaker 2: other businesses because I find them very interesting. I mean,

591
00:30:18,960 --> 00:30:21,000
Speaker 2: there are plenty of places to get a pizza and

592
00:30:21,080 --> 00:30:23,280
Speaker 2: joe Burg on a Saturday night. But I sort of

593
00:30:23,360 --> 00:30:25,240
Speaker 2: joke to my son, if you want to go and

594
00:30:25,280 --> 00:30:27,160
Speaker 2: see smart cars, if you want to go and see

595
00:30:27,160 --> 00:30:30,120
Speaker 2: a masarati, probably drive past the Pantriot about sort of

596
00:30:30,120 --> 00:30:33,000
Speaker 2: midnight on the Saturday and you'll probably see one. People

597
00:30:33,080 --> 00:30:35,040
Speaker 2: do seek you out. What do you think the secret

598
00:30:35,080 --> 00:30:35,520
Speaker 2: to that is?

599
00:30:36,920 --> 00:30:39,480
Speaker 8: You know, that's the million dollar question. I think sometimes

600
00:30:39,520 --> 00:30:42,400
Speaker 8: we don't even know ourselves, to be honest. I know

601
00:30:42,480 --> 00:30:45,200
Speaker 8: that sounds like a silly answer, but the reality is,

602
00:30:45,240 --> 00:30:48,760
Speaker 8: I think if you're giving people a high end experience,

603
00:30:49,400 --> 00:30:52,120
Speaker 8: an experience where they can see the effort that's gone

604
00:30:52,120 --> 00:30:55,040
Speaker 8: into it, you know, whether it's the cleanliness, the preparation,

605
00:30:55,160 --> 00:30:58,600
Speaker 8: the freshness of the food, you know, the general vibe

606
00:30:58,600 --> 00:31:01,400
Speaker 8: and the atmosphere of the place, which that's actually the

607
00:31:01,440 --> 00:31:04,520
Speaker 8: hardest thing to get right is getting that atmosphere that

608
00:31:04,640 --> 00:31:07,280
Speaker 8: people want to you know, pantry people come to grab

609
00:31:07,280 --> 00:31:09,880
Speaker 8: an as cream and they land up wandering around the

610
00:31:09,880 --> 00:31:12,920
Speaker 8: store for forty five minutes just browsing, and you know it,

611
00:31:13,120 --> 00:31:16,840
Speaker 8: it is difficult to get right. And I think we've

612
00:31:16,880 --> 00:31:20,680
Speaker 8: just got this sort of secret source where that comes from.

613
00:31:20,880 --> 00:31:22,480
Speaker 8: It is, you know, I've got to go back to

614
00:31:22,520 --> 00:31:25,360
Speaker 8: that hospitality element and you know, the way you're being

615
00:31:25,400 --> 00:31:28,160
Speaker 8: treated by the staff, the way they interacted you. I

616
00:31:28,200 --> 00:31:29,960
Speaker 8: think that's everything, to be honest.

617
00:31:30,000 --> 00:31:32,200
Speaker 2: The twenty four hour nature of it is that a factor.

618
00:31:32,240 --> 00:31:34,640
Speaker 2: I mean, the sort of consistency of the twenty four

619
00:31:34,640 --> 00:31:38,200
Speaker 2: hours does require quite a lot of execution. You need

620
00:31:38,240 --> 00:31:39,560
Speaker 2: to have a lot of stuff. You need to be

621
00:31:39,640 --> 00:31:42,200
Speaker 2: able to if someone's off or feeling ill, you need

622
00:31:42,240 --> 00:31:44,560
Speaker 2: to be able to back them up. But if you

623
00:31:44,680 --> 00:31:47,000
Speaker 2: do that and people know, I mean, it's a bit

624
00:31:47,120 --> 00:31:49,160
Speaker 2: like the wil Worths model. People know it's going to

625
00:31:49,200 --> 00:31:51,320
Speaker 2: be good. They're going to buy their AVOs from you.

626
00:31:51,440 --> 00:31:55,640
Speaker 8: Yeah, absolutely, that's a look. The twenty four hour concept

627
00:31:55,680 --> 00:31:59,840
Speaker 8: obviously very difficult to run. You know, it gets tricky

628
00:32:00,200 --> 00:32:02,880
Speaker 8: three four am in the morning. Who's there? What are

629
00:32:02,920 --> 00:32:04,640
Speaker 8: they doing. You know, it does get tricky, but I

630
00:32:04,640 --> 00:32:07,560
Speaker 8: think that is also our niche. And you know, I

631
00:32:07,720 --> 00:32:10,720
Speaker 8: go sometimes on the cameras at three am and just

632
00:32:10,800 --> 00:32:13,800
Speaker 8: check the sheer volume of people that are in that store,

633
00:32:14,280 --> 00:32:16,160
Speaker 8: and you know a lot of people say to me, Oh,

634
00:32:16,200 --> 00:32:19,720
Speaker 8: it's the people coming from the parties. And the strange

635
00:32:19,720 --> 00:32:22,040
Speaker 8: thing is it's not only those people. There's so many

636
00:32:22,400 --> 00:32:25,760
Speaker 8: fadesmen and people that work random hours that know they're

637
00:32:25,760 --> 00:32:27,800
Speaker 8: going to come to panchecks three am and grab a

638
00:32:27,840 --> 00:32:31,520
Speaker 8: pits and some groceries. So definitely tricky. I think it's

639
00:32:31,560 --> 00:32:35,240
Speaker 8: worked exceptionally while in Rosebank from a business model perspective,

640
00:32:35,560 --> 00:32:37,320
Speaker 8: and the fact that you know, we attached to a

641
00:32:37,360 --> 00:32:41,240
Speaker 8: petrol station does help. The other pantries that we've now

642
00:32:41,280 --> 00:32:45,200
Speaker 8: opened in Pretoria, Hazelwood, the Sonia in the south of Jobah,

643
00:32:45,200 --> 00:32:47,760
Speaker 8: which we're opening in January the New year, they stand

644
00:32:47,800 --> 00:32:50,760
Speaker 8: alone stores. They're not part of petrol stations, and those

645
00:32:50,800 --> 00:32:53,960
Speaker 8: are not twenty four hours and they close their twelve

646
00:32:54,040 --> 00:32:57,040
Speaker 8: which is still quite late. But yeah, Rosebank's a special

647
00:32:57,040 --> 00:32:57,640
Speaker 8: one if I'm one.

648
00:32:57,640 --> 00:33:01,360
Speaker 2: Knows, Yeah, I'm not, And I mean bicycle's been there forever.

649
00:33:02,760 --> 00:33:05,480
Speaker 2: Are you seeing different trends in the sect, and I

650
00:33:05,480 --> 00:33:09,320
Speaker 2: mean where I'm really going to with this is I

651
00:33:09,320 --> 00:33:12,960
Speaker 2: think before the pandemic, joe Berg was slowly looking towards

652
00:33:13,560 --> 00:33:16,160
Speaker 2: maybe becoming one of the world's twenty four hour city.

653
00:33:16,160 --> 00:33:18,760
Speaker 2: It's never really been, I think, a truly twenty four

654
00:33:18,800 --> 00:33:22,120
Speaker 2: hour city. The pandemic, server load shedding came along and

655
00:33:22,160 --> 00:33:24,760
Speaker 2: that kind of kyboshed that and I wondered, actually if

656
00:33:24,800 --> 00:33:29,680
Speaker 2: Joebig's nightlife whatever would ever return. I was driving very

657
00:33:29,720 --> 00:33:32,000
Speaker 2: boring story, but I was driving through Joe Big three

658
00:33:32,000 --> 00:33:34,800
Speaker 2: o'clock in the morning on a Saturday morning. The other day.

659
00:33:35,520 --> 00:33:37,320
Speaker 2: I was going to work to you know, don't get excited,

660
00:33:37,360 --> 00:33:40,480
Speaker 2: and I was amazed at how much traffic there actually

661
00:33:40,520 --> 00:33:42,720
Speaker 2: was on the roads. And that takes us then to

662
00:33:42,960 --> 00:33:46,160
Speaker 2: the kind of is Jobic becoming a twenty four hour city?

663
00:33:46,400 --> 00:33:49,720
Speaker 8: I absolutely think so. You you, I can't believe the

664
00:33:49,760 --> 00:33:51,880
Speaker 8: traffic on the road you spot on rut and I

665
00:33:51,880 --> 00:33:55,120
Speaker 8: mean parentries just test thement to that. You know, even

666
00:33:55,160 --> 00:33:58,920
Speaker 8: our restaurants and our eteries, say specifically in sant and

667
00:33:58,960 --> 00:34:01,920
Speaker 8: that's a little bit more of a nightlab spot. You know,

668
00:34:02,040 --> 00:34:04,000
Speaker 8: after dinner, there's a bit of a vibe in the bar.

669
00:34:04,560 --> 00:34:08,279
Speaker 8: I've definitely noticed after the pandemic, you know, people come

670
00:34:08,320 --> 00:34:10,520
Speaker 8: out later. These people that only come to the bar

671
00:34:10,600 --> 00:34:13,560
Speaker 8: at twelve or twelve thirty, even Marble that being said,

672
00:34:13,560 --> 00:34:15,920
Speaker 8: they come for a nightcab late in two hours, you know,

673
00:34:16,040 --> 00:34:19,279
Speaker 8: full on twenty four hour city. I think still some

674
00:34:19,360 --> 00:34:22,680
Speaker 8: work to be done, but definitely there's a market for that.

675
00:34:23,600 --> 00:34:25,359
Speaker 2: Thank you very much. Indeed, Din know, it's been good

676
00:34:25,360 --> 00:34:28,360
Speaker 2: to talk to you. I really appreciated dinner. Constantino is

677
00:34:28,400 --> 00:34:32,440
Speaker 2: the operations manager for the Marble Group. Just interesting to

678
00:34:32,560 --> 00:34:35,440
Speaker 2: watch that transition for joe Berg to becoming a proper

679
00:34:35,440 --> 00:34:38,120
Speaker 2: twenty four hour city. I think on some sort of

680
00:34:38,239 --> 00:34:40,760
Speaker 2: you know, I wouldn't be surprised if you look around

681
00:34:40,760 --> 00:34:43,799
Speaker 2: the next two weekends in some place escape Town two,

682
00:34:44,080 --> 00:34:46,160
Speaker 2: you'll see that twenty four our nature because people are

683
00:34:46,200 --> 00:34:49,680
Speaker 2: going on holiday. There's that kind of traditional the next

684
00:34:49,719 --> 00:34:53,280
Speaker 2: two weeks, companies have their dues, the sort of Christmas parties,

685
00:34:53,320 --> 00:34:55,680
Speaker 2: things like that. People are sort of saying goodbye to

686
00:34:55,719 --> 00:34:58,600
Speaker 2: each other, celebrating the year, celebrating that it's over, looking

687
00:34:58,640 --> 00:35:02,000
Speaker 2: for to the next year. That maybe just drives things

688
00:35:02,000 --> 00:35:04,359
Speaker 2: a little bit towards that twenty four hour Nature. Let's

689
00:35:04,360 --> 00:35:06,920
Speaker 2: see how it all plays out. Six minutes now to

690
00:35:07,120 --> 00:35:08,640
Speaker 2: seven the time on the Money.

691
00:35:08,400 --> 00:35:15,399
Speaker 7: Show, Taking your calls on one, one, three, seven two, Well,

692
00:35:15,480 --> 00:35:18,479
Speaker 7: time for the Friday BIS Blitz on the Money Show.

693
00:35:18,520 --> 00:35:21,120
Speaker 2: First question on the Friday Bisblitz. You now there's words

694
00:35:21,400 --> 00:35:23,239
Speaker 2: you call us on A double one double A three

695
00:35:23,320 --> 00:35:26,600
Speaker 2: oh seven two and two one four, four, six, five,

696
00:35:26,680 --> 00:35:28,440
Speaker 2: six seven. I put the question to you. If you

697
00:35:28,480 --> 00:35:30,760
Speaker 2: get it right, we move on to the next question.

698
00:35:30,800 --> 00:35:33,920
Speaker 2: If you get it wrong, well, we move on to

699
00:35:34,400 --> 00:35:38,600
Speaker 2: the next caller. First question, here we go. Which French

700
00:35:39,000 --> 00:35:43,920
Speaker 2: media company is set to remove CNN from DStv after

701
00:35:44,040 --> 00:35:47,960
Speaker 2: Warner Brothers Discovery has refused to agree to new terms.

702
00:35:47,960 --> 00:35:51,560
Speaker 2: Which French media company is set to remove CNN from

703
00:35:51,680 --> 00:35:56,920
Speaker 2: DStv after Warner Brothers Discovery refuse to agree to new terms.

704
00:35:57,000 --> 00:35:59,480
Speaker 2: First question on the Friday BIS Blitz.

705
00:35:59,560 --> 00:36:04,400
Speaker 9: Tonight, The Money Show Steven Crotes is brought to you

706
00:36:04,600 --> 00:36:08,960
Speaker 9: by Abscess cib Discover the latest trends shaping digital assets

707
00:36:09,000 --> 00:36:13,320
Speaker 9: across Africa. Download the as Africa Digital Assets Insights twenty

708
00:36:13,400 --> 00:36:14,000
Speaker 9: twenty five.

709
00:36:16,000 --> 00:36:18,040
Speaker 6: The Money Show, Friday.

710
00:36:17,920 --> 00:36:21,440
Speaker 2: Business Three minutes now to seven. First question on the

711
00:36:21,480 --> 00:36:25,080
Speaker 2: Friday Business Lit's which French media company is set to

712
00:36:25,120 --> 00:36:30,240
Speaker 2: remove CNN from the STV after Warner Brothers Discovery refused

713
00:36:30,280 --> 00:36:34,120
Speaker 2: to agree to new terms. Let's go to Joe in Centurion.

714
00:36:34,239 --> 00:36:39,760
Speaker 2: Joe High, Hi, it's gonna help us. Did you pronounce

715
00:36:39,760 --> 00:36:40,320
Speaker 2: that correctly?

716
00:36:40,760 --> 00:36:41,000
Speaker 9: Yeah?

717
00:36:41,080 --> 00:36:45,080
Speaker 2: I think that's fine, Joe. Yes. Gonel Plus Multi Choice

718
00:36:45,120 --> 00:36:48,400
Speaker 2: is announced to subscribers twelve channels under its Courage agreement

719
00:36:48,680 --> 00:36:53,040
Speaker 2: from Warner Brothers Discovery, including the Discovery Channel and CNN International,

720
00:36:53,360 --> 00:36:55,840
Speaker 2: will be terminated at the end of the year. Okay.

721
00:36:55,880 --> 00:36:58,400
Speaker 2: Second question, Joe, I hope you've been listening to The

722
00:36:58,400 --> 00:37:03,480
Speaker 2: Money Show this week. Yeah, okay, first question. Second question

723
00:37:03,560 --> 00:37:07,960
Speaker 2: on the Friday basis. Let's in which year was Discovery

724
00:37:08,120 --> 00:37:09,720
Speaker 2: Life founded.

725
00:37:11,360 --> 00:37:12,319
Speaker 6: Nineteen ninety nine?

726
00:37:13,840 --> 00:37:16,920
Speaker 2: Joe, you are very close. I'll give you another guess.

727
00:37:17,360 --> 00:37:27,399
Speaker 2: Very close. Come on then, oh Joe, Joe, I don't

728
00:37:27,400 --> 00:37:31,560
Speaker 2: know what to say to you. I mean very close

729
00:37:31,719 --> 00:37:35,000
Speaker 2: is all I can say. Okay, Oh, double one haup

730
00:37:35,080 --> 00:37:38,480
Speaker 2: of a three seven O two and two one four

731
00:37:38,520 --> 00:37:42,400
Speaker 2: four six O five six seven. In which year was

732
00:37:42,560 --> 00:37:47,960
Speaker 2: Discovery Life founded? Joe pretty much got there kind of,

733
00:37:48,120 --> 00:37:52,960
Speaker 2: but then the last second, unfortunately, just not quite getting there.

734
00:37:53,040 --> 00:37:57,200
Speaker 2: Which year was in which year was Discovery Life founded.

735
00:37:57,239 --> 00:38:00,560
Speaker 2: We actually spoke to the CEO of Discovery Life this

736
00:38:00,680 --> 00:38:03,800
Speaker 2: week and spoke about the history and our life insurance

737
00:38:03,840 --> 00:38:07,640
Speaker 2: has changed in the last year or so. Questions to

738
00:38:07,640 --> 00:38:13,719
Speaker 2: come also around social media, questions to around Prada. We'll

739
00:38:13,719 --> 00:38:17,000
Speaker 2: look at that new gold mine as well, and maybe

740
00:38:17,040 --> 00:38:20,000
Speaker 2: some of our GDP figures this week. But first we

741
00:38:20,040 --> 00:38:22,719
Speaker 2: do have to get past this question, which is in

742
00:38:22,760 --> 00:38:26,560
Speaker 2: which year was Discovery Life founded? And one of those

743
00:38:26,600 --> 00:38:29,760
Speaker 2: companies which has become sort of iconic, part of course,

744
00:38:29,840 --> 00:38:34,120
Speaker 2: an iconic group, as you know, the Discovery group, certainly

745
00:38:34,160 --> 00:38:36,719
Speaker 2: a group that has done much to change our economy

746
00:38:36,760 --> 00:38:40,200
Speaker 2: over the years. But in which year was Discovery Life founded?

747
00:38:40,440 --> 00:38:43,839
Speaker 2: Double one, double A three seven O two and two

748
00:38:43,960 --> 00:38:47,799
Speaker 2: one four, four, six, five, sixven. Our second question on

749
00:38:47,920 --> 00:38:53,560
Speaker 2: the Fridays Blitz tonight, in which year was Discovery Life founded?

750
00:38:54,400 --> 00:38:56,600
Speaker 2: Joe kind of got us there, so it shouldn't be

751
00:38:56,680 --> 00:38:59,160
Speaker 2: too hard to work out from here, but I can't

752
00:38:59,160 --> 00:39:01,400
Speaker 2: give you the answer, afraid I really did need you

753
00:39:02,040 --> 00:39:05,400
Speaker 2: to give us the answer, and let's go to I

754
00:39:05,440 --> 00:39:08,719
Speaker 2: think we can go to Alex in Northgate, Alex Hyde,

755
00:39:08,760 --> 00:39:09,560
Speaker 2: do you know the answer?

756
00:39:10,560 --> 00:39:12,920
Speaker 8: I do you What is it, Alex?

757
00:39:14,200 --> 00:39:19,080
Speaker 2: Two thousand It was two thousand years. Which country has

758
00:39:19,280 --> 00:39:23,640
Speaker 2: just enforced the world's first national social media ban for

759
00:39:23,760 --> 00:39:29,479
Speaker 2: people under the age of sixteen, Australia. It is Australia. Yes.

760
00:39:30,400 --> 00:39:35,200
Speaker 2: Which iconic Italian fashion house famous for its Medusa logo

761
00:39:35,760 --> 00:39:38,359
Speaker 2: has just been snapped up by Prada. It's a deal

762
00:39:38,440 --> 00:39:41,719
Speaker 2: with one point three eight billion dollars. Who's just been

763
00:39:41,760 --> 00:39:47,200
Speaker 2: bought by Prada? They've got a Medusa logo? Vasachi. Alex,

764
00:39:48,560 --> 00:39:51,120
Speaker 2: you clearly have an eye for fashion. It is Vasaci.

765
00:39:53,560 --> 00:39:57,440
Speaker 2: Which company has opened South Africa's first new underground gold

766
00:39:57,480 --> 00:40:00,560
Speaker 2: mine in fifteen years? We spoke to the CEO yesterday.

767
00:40:01,440 --> 00:40:04,360
Speaker 2: Oh man, that's a tough question. Actually, you have to

768
00:40:04,400 --> 00:40:14,279
Speaker 2: listen hard. Oh Alex, Oh, Alex, Sorry, Alex, all right,

769
00:40:14,320 --> 00:40:18,640
Speaker 2: we've just got time for all What's what's the name

770
00:40:18,680 --> 00:40:21,080
Speaker 2: of the company that opened our first new gold mine

771
00:40:21,120 --> 00:40:23,160
Speaker 2: in fifteen years?

772
00:40:24,239 --> 00:40:25,719
Speaker 8: Right? Question?

773
00:40:26,120 --> 00:40:29,640
Speaker 2: Which company just opened our first new underground gold mine

774
00:40:29,680 --> 00:40:30,840
Speaker 2: in fifteen years?

775
00:40:32,560 --> 00:40:32,680
Speaker 6: Uh?

776
00:40:35,520 --> 00:40:37,600
Speaker 3: Hello, I don't know.

777
00:40:40,160 --> 00:40:40,920
Speaker 6: What what.

778
00:40:42,440 --> 00:40:43,880
Speaker 5: Next?

779
00:40:44,760 --> 00:40:47,680
Speaker 2: I'm sorry, but but that's not the name. The name

780
00:40:47,719 --> 00:40:51,000
Speaker 2: I needed was Carla Shallows. That's the name of the

781
00:40:51,080 --> 00:40:53,719
Speaker 2: company that opened the new mine you with the Money

782
00:40:53,719 --> 00:40:54,400
Speaker 2: Show seven o'clock