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

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Speaker 1: oh two. Let's walk this all.

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

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Speaker 2: by Absent Corporate and Investment Banking, proud sponsors of GTR

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Speaker 2: Africa twenty twenty six, enabling trade flows for growth. Abs

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Speaker 2: is registered FSP Good evening, nine minutes after six. Welcome

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Speaker 2: to the program. I'm Stephen Curtis. You know those moments

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Speaker 2: where you'll be around a table, a brie or in

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Speaker 2: a tavenue somewhere and someone says, so, what if this happens,

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Speaker 2: and what if that happens? What would be like the

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Speaker 2: worst thing that can happen? And I'm sure not the

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Speaker 2: only one who's been thinking, well, oil prices, this, iram

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Speaker 2: that straight up? For mus this what is the worst

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Speaker 2: thing that can happen? And for a moment you think

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Speaker 2: to yourself, well, okay, the worst thing that can happen

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Speaker 2: is not actually fuel price is just going through the roof.

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Speaker 2: And I'm sorry to say, but that is going to happen.

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Speaker 2: The worst thing that can happen is that we actually

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Speaker 2: don't have enough fuel. But actually, the the worst worst

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Speaker 2: thing that can happen is we don't have enough fuel

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Speaker 2: for you know, to move food around, for essential services,

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Speaker 2: to get kids to school, that kind of thing. I mean,

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Speaker 2: maybe some more people can walk to work. I mean,

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Speaker 2: I don't think so if you look at our urban geography, frankly,

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Speaker 2: but that would probably be the worst. And then I remember,

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Speaker 2: you know those moments where you sort of go, oh, wait,

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Speaker 2: hold on, it can never get to that point. And

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Speaker 2: the reason I can't get to that point, and I thought,

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Speaker 2: you know, I felt comforted when I reminded myself, so

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Speaker 2: maybe I should remind you is that Sasel produces thirty

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Speaker 2: percent of the fuel that we use from coal and

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Speaker 2: just can't be touched by what's going on in the

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Speaker 2: Middle East. It just can't. And I say that because

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Speaker 2: sur Cel share price went up eleven percent to day,

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Speaker 2: and I think what that tells you is that investors

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Speaker 2: are seeing that. I think everyone is suddenly seeing, whatever

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Speaker 2: the worst is, we will always have enough fuel to

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Speaker 2: move that kind of stuff around. So no matter how

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Speaker 2: alarmist people are, we will always have that. And that, actually,

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Speaker 2: strangely I found comforting. But I do get a sense

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Speaker 2: that the way in which we understand Cecil and what

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Speaker 2: that does that that fuel comes from coal and that

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Speaker 2: it's our coal in his mind. Here suddenly underpins that

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Speaker 2: huge increase because I think clearly now we need to

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Speaker 2: make as much piece as we can with the fact

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Speaker 2: that this conflict in Uron is going to last a

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Speaker 2: long time. I mean astonishing reports on Reuter's it would

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Speaker 2: seem that, in fact, some of the top officials in

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Speaker 2: the Trump administration never believed that the Iranians would block

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Speaker 2: the Strait of Humus. I mean, obviously they would. I mean,

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Speaker 2: of course they would. I mean I would. It's a

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Speaker 2: very strange thing to sort of say. Anyway, I was

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Speaker 2: interested in that the courier guy, by the way, the

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Speaker 2: latest company to increase their prices because of aviation fuel

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Speaker 2: increases which are already in effect. And then the rand

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Speaker 2: or not quite at seventeen to the dollar, but kind

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Speaker 2: of heading that way. We'll talk more about this in

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Speaker 2: a moment with the CEO of the Fuel Industry Association

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Speaker 2: of South Africa about funny to f Laro, there's a

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Speaker 2: lot of data around what i'd call well off retiree,

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Speaker 2: so people who should be fine, he should be financially well,

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Speaker 2: but it would seem they're actually borrowing money to survive,

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Speaker 2: and so that's one of the issues. We will talk

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Speaker 2: to Andrew Fulton at eighty twenty about that in about

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Speaker 2: ten minutes, and then we will also speak about the

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Speaker 2: live golf. Richard Glover, I don't know if you know

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Speaker 2: him've goot a disgreer. He and I were actually at

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Speaker 2: university together, which is how I've been able to do that,

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Speaker 2: and he ran tennis SA for a while. He's now

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Speaker 2: he now runs the Southern Guards Golf Club. This is

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Speaker 2: the team that represents us at the live golf and

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Speaker 2: we will speak to him, probably the one of the

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Speaker 2: last times we'll get to speak to him ahead of

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Speaker 2: head of this because he's going to be so busy

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Speaker 2: next week. But I'll also ask him how important finally

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Speaker 2: for our team to have a live golf event here

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Speaker 2: could hear from you? Double one double A three oh

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Speaker 2: seven oh two two one four four six O five

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Speaker 2: six seven and in voice notes on seven two seven oh

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Speaker 2: two one seven oh two thirteen after six. The Lly

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Speaker 2: Show with Stephen krudis live on ninety two point seven

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Speaker 2: and one six a them streaming on the Prime Media Plus.

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Speaker 1: NAP and TST channel eight five six.

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Speaker 2: Well as international oil prices still however around one hundred

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Speaker 2: dollars a barrel, the Fuel Industry Association now telling larger

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Speaker 2: users petroleum companies are only going to supply the volumes

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Speaker 2: that they've already agreed to contractually. In other words, if

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Speaker 2: you're a big user of fuel, you can't buy more

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Speaker 2: now than you had previously agreed to. You can't just

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Speaker 2: buy it on an ad hoc basis. About funny to

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Speaker 2: Falaro is the CEO of the Fuel Industry Association of

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Speaker 2: South Africa, have a funny, good evening? Does this suggest

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Speaker 2: that supplies are actually worried about a possible shortage of fuel?

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Speaker 2: I mean, are they doing this just as a sort

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Speaker 2: of precautionary measure? What's they thinking behind it?

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Speaker 3: So good evenings, Stevin, So, I think the supplies have

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Speaker 3: to be proactive in as far as like managing the

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Speaker 3: current supply I mean situation, fuel supply situation. And there's

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Speaker 3: no sort of mean agreed way of how to go

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Speaker 3: about that, So individual suppliers they will decide in terms

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Speaker 3: of how they go about it. So because each supplier

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Speaker 3: will be in a very different position, I mean, Steven,

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Speaker 3: just for example, if I'm based at at the coast.

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Speaker 3: I mean Visave is somebody in the inland, and Visave

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Speaker 3: is somebody who's a manufacturer. Those people are like managing

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Speaker 3: the situation very differently, So that's not common approach to

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Speaker 3: say people are relationing. So it depends to individual supplier.

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Speaker 2: Should our response be more coordinated? I mean government, the

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Speaker 2: Ministry of Natural and Petroleum Resources put out a statement

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Speaker 2: earlier this week saying nothing really to worry about, get

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Speaker 2: most of our feel from Nigeria, et cetera. But should

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Speaker 2: they be coordinating this a bit more?

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Speaker 4: I think that's happening, Stephen.

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Speaker 3: We are working very closely with government, I think, I

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Speaker 3: mean this week alone. I mean we have had several meetings.

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Speaker 3: But what we cannot do is to dictate to companies

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Speaker 3: what to do because these arrangement are governed by supply agreements.

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Speaker 3: I mean, there are contracts in place in terms of

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Speaker 3: how the large customers are supplied by companies.

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Speaker 2: So the interest them in for.

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Speaker 3: Government and the industry at large is to make sure

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Speaker 3: that the country as a whole, it's not like I'm

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Speaker 3: in running dry and where there are issues where there's

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Speaker 3: necessary intervention that's required at industry level, Government will work

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Speaker 3: closely with the industry. Of course, the industry will be

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Speaker 3: the implement as these are the people who are manufacturing

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Speaker 3: and also inputting them in products into the country.

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Speaker 2: So in a way, the details of this are important.

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Speaker 2: As I see it, suppliers are not saying you can't

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Speaker 2: have the fuel you normally get. What they're saying is

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Speaker 2: you can't get more than you normally get. And if

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Speaker 2: I were they, I would be thinking and looking at

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Speaker 2: my customers and thinking a lot of those customers, and

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Speaker 2: if I were the customers, this is what I would

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Speaker 2: be thinking. I'll be thinking, let me just get a

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Speaker 2: little bit more. If I have an extra field tank,

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Speaker 2: let me just fill that up. I mean, I'm sure

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Speaker 2: that people now who are thinking, well, let me fill

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Speaker 2: up the spare car or whatever ahead of you know

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Speaker 2: the increase that'll come or just in case. But when

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Speaker 2: you do that, We've seen this with toilet paper of

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Speaker 2: all things. But when you do that, you create an

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Speaker 2: artificial shortage. There's no reason for a shortage now, but

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Speaker 2: if everybody goes and buys just another five ten percent

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Speaker 2: more just in case, we will have a shortage.

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Speaker 4: I think you are spot on, des Livin.

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Speaker 3: That's precisely that, like the supplies are trying to manage

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Speaker 3: because the moment people they want to buy more than

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Speaker 3: what they are contracted to, you are going to create

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Speaker 3: an artificial a short I mean in the market. And

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Speaker 3: well we know very well that I mean, yes, there

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Speaker 3: is no shortage. Yes, we're operating in a tight environment.

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Speaker 3: What we know, because everybody can see is transparent. It's

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Speaker 3: published on a daily basis. I mean we can see

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Speaker 3: like what is there under recovery. We can see potentially

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Speaker 3: what is going to be the price adjustment next month.

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Speaker 4: That is known.

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Speaker 3: But what we can assure the public and the motorist

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Speaker 3: is that there is no shortage of farming fuel in

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Speaker 3: the country right now. And if there is any change

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Speaker 3: to that I mean position, I'm sure government, together with

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Speaker 3: the industry, they will like take country into confidence and

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Speaker 3: communicate as such.

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Speaker 2: So I mean I've been trying to think that's through, right,

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Speaker 2: and you'll know more than I do about it. So

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Speaker 2: let me let me just sort of ask you for

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Speaker 2: help in this. The way I see it is that yes,

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Speaker 2: we get, as government says, most of our fuel from Nigeria.

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Speaker 2: We get the thirty percent from CECIL. The thirty percent

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Speaker 2: from cecil won't be touched. That's ours. It comes from cold.

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Speaker 2: Nothing will happen to that cool. Okay, so central services

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Speaker 2: transporting food like that, we don't need to worry. That's

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Speaker 2: always going to happen. But Asia is desperate for well,

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Speaker 2: I mean desperate for it, and that makes me worry

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Speaker 2: that even they are going by what we're getting from Nigeria.

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Speaker 2: From what you're saying, that's not a realistic fear at

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Speaker 2: this moment.

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Speaker 3: You're quite correct, Stivin, because the thing is that with

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Speaker 3: them in fuel, it's not like a staple food. I mean,

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Speaker 3: it's a global commodity which is required by all nations

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Speaker 3: across the globe. So the reason why you see that

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Speaker 3: the prices is increasing the way it is, it is

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Speaker 3: because with the blockage of the products and refined products

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Speaker 3: that come from the Middle East and crude oil. So

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Speaker 3: suddenly people across the globe they have to rearrange them

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Speaker 3: themselves in terms of where they get mad. Sure, so

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Speaker 3: we'll all go where it is available, and that is

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Speaker 3: going to clear. I mean the demand that like now

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Speaker 3: it has to be measured by higher fuel prices. So yeah,

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Speaker 3: you're quite correct. I mean, like wherever it's available. We're

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Speaker 3: not the only ones, and there are people who are

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Speaker 3: prepared to pay a lot of money to ensure circuit

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Speaker 3: of supply. Not all countries have got the same capabilities.

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Speaker 3: Some of us were poorer than other countries.

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Speaker 2: Okay, So I mean I think several things are probably

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Speaker 2: going to happen at this point. We see that the

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Speaker 2: International Energy Agency is coordinating the more supplies coming on.

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Speaker 2: I mean, that's not sustainable in any way, but it

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Speaker 2: probably will keep prices down slightly a little bit. We

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Speaker 2: had one Indian tanker that went through the strait of

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Speaker 2: the move safely today by no means, so I think

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Speaker 2: it will necessarily be followed by a lot. Others are

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Speaker 2: simply too big, the move too slowly. There's such easy targets,

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Speaker 2: there's just no way for Wow, what I'm talking about

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Speaker 2: is we're probably going to have this huge period of volatility.

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Speaker 2: I mean, someone asked me the other day who benefits

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Speaker 2: from this? I think the oil traders are going to

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Speaker 2: be for a very interesting stretch.

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Speaker 3: Not all traders, I mean generally are not the the refiners. Yes,

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Speaker 3: nowadays you get to see some of them investing into

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Speaker 3: that part of velueta. But the allness of the refiner

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Speaker 3: is those who are like especially sitting like in the

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Speaker 3: like in the areas where they are very They're not

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Speaker 3: imputing crude ale.

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Speaker 4: It's a natural resources that appears in the country.

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Speaker 3: Those are generally people who are going to benefit a

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Speaker 3: lot the higher prices. It means the refiner imagines are

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Speaker 3: also good and the traders, yes, because the price like

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Speaker 3: I mean, it's going to like increase significantly, like what

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Speaker 3: we have seen I mean with the thirty dollars US

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Speaker 3: I mean thirty US dollars per battle, which trans led

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Speaker 3: to a higher increase in the COUNDUS like South Africa.

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Speaker 3: It means trade us at that particular point in time,

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Speaker 3: they will get a much better like a sort of

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Speaker 3: matching compared to what they were getting before the war.

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Speaker 3: But the person who's going to benefit most is going

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Speaker 3: to be the owner of the product, the refineries that

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Speaker 3: that are manufactured in this product for export market.

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Speaker 2: It makes a lot of sense. A funny thanks. I

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Speaker 2: ready to appreciate the clarity on this, so many questions

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Speaker 2: to ask about it. Abadvantage of Oolaro is the CEO

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Speaker 2: of the Fuel Industry Association of South Africa twenty one

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Speaker 2: after six.

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Speaker 1: The Money Should Explainer.

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Speaker 2: What some interesting numbers coming out about debt. And in fact,

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Speaker 2: you might look at people do you think, well, they've

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Speaker 2: retired quite comfortably. Look at where they're having lunch, look

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Speaker 2: at you know, the Gulf shirt, look at what they're driving,

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Speaker 2: and in fact, it seems many of the people in

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Speaker 2: that bracket are spending quite a lot of money on

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Speaker 2: loans and repaying those loans. Andrew Fulton, this is the

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Speaker 2: director at eighty twenty putting some of these numbers together. Andrew,

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Speaker 2: good evening. I mean I think many of us can

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Speaker 2: look at people older than us and think, well, this

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Speaker 2: person clearly has retired. Well I wonder what that's like.

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Speaker 2: That from your numbers, quite a few of them are

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Speaker 2: actually using loans to get by.

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Speaker 5: Yeah, good evening, Thanks for having us on the show, Stephen.

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Speaker 4: Yeah.

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Speaker 5: So every quarter we release a stress report looking at

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Speaker 5: the impact of economic forces on South African consumers, focusing

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Speaker 5: particularly on credit, and we try to do a deep

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Speaker 5: dive into an interesting segment or an interesting topic, and

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Speaker 5: we looked at seniors this quarter primarily because of we

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Speaker 5: also look at demographic movements and the number of South

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Speaker 5: Africans who were seniors is growing and accelerating, you know,

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Speaker 5: growing at forty three percent compared to nineteen percent overall population.

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Speaker 5: So it's an interesting segment to look at. But we

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Speaker 5: certainly did notice that a lot of people, a lot

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Speaker 5: of seniors are taking out loans in order to bridge

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Speaker 5: the gap between their retirement income and the cost of living.

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Speaker 2: I mean, the problem is is that some times, if

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Speaker 2: you're working and you need to pay back alone, you

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Speaker 2: can maybe take an extra shift if there's one for you,

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Speaker 2: or you can do another hustle or something. But if

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Speaker 2: you're retired, you have I mean, yes, a stable income

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Speaker 2: is a good thing, but it's a stable income it

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Speaker 2: only it doesn't change, so you don't have that option.

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Speaker 5: Absolutely. Yeah. And it's not just that. I mean, if

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Speaker 5: you look at the other challenges seniors are facing, they've

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Speaker 5: got low financial resilience because of that, you know, they're

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Speaker 5: at the end of their careers. Digital exclusion is a

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Speaker 5: huge one. I mean, there's no kind of innovative digital

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Speaker 5: programs or services for older people's country. They're living on

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Speaker 5: fixed or limited incomes. And let's be honest, age discrimination

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Speaker 5: in the workforce in lending. I mean that's a reality.

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Speaker 5: The other thing that's interesting about the way households have

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Speaker 5: developed is they're probably also supporting some dependent, perhaps unemployed

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Speaker 5: family members who are still living in their houses. So

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Speaker 5: there's a lot packed up against them. Absolutely.

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Speaker 2: Could that be one of the reasons why there's so

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Speaker 2: much dates in this group is actually they're looking after

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Speaker 2: other people. I mean, probably paying for the education of

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Speaker 2: a of a grand job.

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Speaker 5: For sure. Yeah, absolutely, I mean that's the one unique

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Speaker 5: characteristic of South African households is they've got this extended

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Speaker 5: household structure. So even if it isn't your kids, it's

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Speaker 5: family members, aunts, uncles, cousins, et cetera. But what we do,

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Speaker 5: we've created a segmentation that the divides South Africa into

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Speaker 5: eight segments we call the n s. And you really

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Speaker 5: need to look at seniors in terms of the two segments,

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Speaker 5: because there's the humble elders, who are quite large group

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Speaker 5: of four million people financially vulnerable, primarily living on older

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Speaker 5: person grants. And then the comfortable retirees which are two

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Speaker 5: million who really you know, they benefited from good jobs

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Speaker 5: during APARTHID they're able to put money away into retirement

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Speaker 5: by property, have better jobs. So we look at those

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Speaker 5: as two separate groups for the analysis.

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Speaker 2: No that I mean that makes a lot of sense,

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Speaker 2: and I mean we are nowhere able to have this

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Speaker 2: conversation yet, there's not enough time has passed. But there's

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Speaker 2: a very large number of people who have had a pension.

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Speaker 2: There's the introduction of the two part pension system and

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Speaker 2: what we see as a very large proportion of people

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Speaker 2: with pensions. So these are people sometimes often the only

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Speaker 2: income owner in their family who are taking out, you know,

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Speaker 2: one third of that pension every text year. I mean

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Speaker 2: the implications of that we don't yet know.

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Speaker 5: Absolutely. Yeah, only time to tell. But as you mentioned,

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Speaker 5: there's there's certainly a lot of money that's being withdrawn

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Speaker 5: from that system. And in terms of those two segments

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Speaker 5: that we describe, what's interesting with the wealthier segment, those

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Speaker 5: comfortable retirees, even with them, we're noticing that they're scaling

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Speaker 5: back on their secured credit exposure once again in response

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Speaker 5: to retainer pressures and commitments and concentrating a bit more

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Speaker 5: on personal loans and credit cards in order to just

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Speaker 5: keep up with consumption needs.

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Speaker 2: Sure. Andrew Filton, thanks very much, indeed, Director at eighty twenty. Yeah,

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Speaker 2: your experience of that, please are very tricky. I know

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Speaker 2: seven two seven two one seven twenty six minutes now

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Speaker 2: after six.

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Speaker 4: O'clock The Money Show, the Market.

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Speaker 2: Kira bill wet Nonjana is VP Clients Manager at Prime XBT.

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Speaker 2: How's it, Kiv, Thanks for your time. I mean, Sassil, Wow,

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Speaker 2: really got the motor going today?

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Speaker 6: Yeah, No, the Sasso was was the bell of the

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Speaker 6: ball really on the on the balls when you saw

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Speaker 6: calamity across different sectors. SASL finished the day as the

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Speaker 6: top mover in the as the top move of the megacaps.

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Speaker 6: And that's just on the back of the fact that

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Speaker 6: we're seeing sustained price of oil near the one hundred

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Speaker 6: dollars mark and that just is really good for margins

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Speaker 6: for them. They go into a hedging strategy where they

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Speaker 6: have a floor of fifty nine dollars and a cap

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Speaker 6: at eighty six, and right now with a cap above

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Speaker 6: eighty six and the brain creep price trading above that,

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Speaker 6: they see that they're taking advantage of that oil price

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Speaker 6: gain and you're seeing it in the share price right now.

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Speaker 2: Yeah, I mean it's also I mean in a way

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Speaker 2: this I mean SASA is the big beneficiary of this

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Speaker 2: and it could go on for quite some time. I mean,

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Speaker 2: this will really give it's a big fillip for their

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Speaker 2: share price for a long time because this conflict will

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Speaker 2: go on and because of their fuel process.

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Speaker 6: Yeah, and I mean I was looking at even just

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Speaker 6: chemical prices and CECYL makes fifty percent of its revenue

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Speaker 6: and about fifteen to twenty percent of EBIDA contribution from

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Speaker 6: the chemical business. And what is the differentiator is that

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Speaker 6: the feedstock is coal and currently right now, coal is

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Speaker 6: one of the assets which we have readily available. Even

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Speaker 6: though the price of coal right now at the port

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Speaker 6: is increasing due to the fact that it's a substitute

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Speaker 6: for liquid liquid natural gas in Europe, what we're still

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Speaker 6: seeing is that SASOL has Sasol has advantage of the

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Speaker 6: fact that it feeds the feedstocks directly from South Africa

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Speaker 6: and is not going to be affected by any supply

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Speaker 6: chain supply chain disruptions due to this high oil price.

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Speaker 2: Grow had an earnings up date out today, the results

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Speaker 2: coming out soon. They're expecting quite a big increase. What's

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Speaker 2: between nearly forty percent.

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Speaker 6: Yeah, no, at the top end is about forty one

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Speaker 6: percent and I mean, you just need to look at

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Speaker 6: some of the listed assets, such as First Round, which

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Speaker 6: really came out with earnings recently and it was at

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Speaker 6: the top of the top of top of guidance with

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Speaker 6: return of equities closer to twenty percent, and maybe like

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Speaker 6: as who's the CEO has really directed that ship quite well.

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Speaker 6: OUTsurance also came out and really showed growth in headline

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Speaker 6: earnings and growth in dividends as well. I mean, some

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Speaker 6: of the listed assets, it will be good to see

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Speaker 6: how non listed asset will be good to see how

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Speaker 6: they performed, the likes of med Clinic and Heineken. But overall,

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Speaker 6: I just think it's just it's it's Johann Rupert laughing

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Speaker 6: strict to the bank comment.

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Speaker 2: Yeah. And then in the US, I mean their numbers

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Speaker 2: concern the indices today and certainly considering higher oil prices,

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Speaker 2: they started slightly positive. They've had quite a bit of

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Speaker 2: personal data there, I mean domestic dat is what I

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Speaker 2: mean to say.

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Speaker 6: Yeah, so revised GDP numbers showing a slow down in

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Speaker 6: the economy are not not necessarily a recession, but just

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Speaker 6: to slow down in the revised GDP data is coming

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Speaker 6: out at zero point seven percent and personal consumption expenditure

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Speaker 6: coming in line with expectation at two point eight percent.

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Speaker 6: One is very positive, one is very negative. PCEE coming

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Speaker 6: in at two point eight percent is where the FED

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Speaker 6: needs inflation to go, and it is one of the

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Speaker 6: gauges that they used to see what personal income is

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Speaker 6: and they look at as well as a growth in

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Speaker 6: consumption and it came in line with expectation. It's just

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Speaker 6: these revised GDP numbers where we look at Q three

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Speaker 6: growth of four point four percent to go to a

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Speaker 6: revised number of zero point seven in Q four tells

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Speaker 6: you that the bay of that economy is really not

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Speaker 6: doing well and that that really is going to cause

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Speaker 6: a conundrum at the next FADE meeting.

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Speaker 2: Indeed, Kio Bill Noniana, thanks so much. We have the

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Speaker 2: clients manager prime XPERTEE really appreciate it. Just gone six thirty.

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Speaker 4: What's up to Stephen on.

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Speaker 1: Seven to two seven two one seven two.

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Speaker 2: Twenty four minutes now to seven the time. I've been

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Speaker 2: watching pictures all day of soldiers. The President yesterday talking

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Speaker 2: about the SA and DF being deployed. There was the

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Speaker 2: visual statement from the Presidency telling I presume telling Parliament

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Speaker 2: the cost of it eight hundred million rand. And look,

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Speaker 2: I am sure, I am absolutely certain in fact that

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Speaker 2: if you were living in so many air of the

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Speaker 2: areas that are already ravaged by violent crime, if you're

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Speaker 2: one of those people who's had to, you know, grab

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Speaker 2: your young children and sort of hide in the bath

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Speaker 2: while guns are being fired outside, you welcome the soldiers.

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Speaker 2: And I'm completely with you on that. I just worry

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Speaker 2: that we think the soldiers are going to be better

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Speaker 2: than the police. Now, look at the leadership of the police, right,

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Speaker 2: We've seen in the commissions. Look at I mean you

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Speaker 2: had the head of organized crime, Richard hud Bury, basically

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Speaker 2: saying it was fine for him to take money from

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Speaker 2: someone who had been convicted. I mean, just the most

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Speaker 2: astonishing sort of things. I mean, he lied at the commission,

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Speaker 2: he had to meditate, et cetera, et cetera, et cetera.

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Speaker 2: And I could go on and I'm sorry to say this,

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Speaker 2: but the leadership of the Essay and DF, I don't

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Speaker 2: know if it's any better. You've got the commander in chief, Well,

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Speaker 2: you've got the top general roti Map, who is paying

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Speaker 2: for the legal defense of twelve members of a special unit,

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Speaker 2: who are accused of shooting dead a Hawk's investigator. Now,

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Speaker 2: let me be clear. If I were charged with murder,

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Speaker 2: I wouldn't expect my employer to pay for my legal defense.

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Speaker 2: So then why is the essay and DF doing that.

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Speaker 2: There's a story the other day about the generals who

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Speaker 2: are using Defense Force Foundation money. That's what soldiers for

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Speaker 2: their personal credit cards. We have so many stories about this,

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Speaker 2: and if the leadership is like that, well, how are

434
00:22:54,680 --> 00:22:56,760
Speaker 2: the soldiers? No, we know the soldiers don't always have

435
00:22:56,880 --> 00:23:00,000
Speaker 2: enough food. So I hear the President when he said

436
00:23:00,359 --> 00:23:02,760
Speaker 2: this is going to be money well spent. I'm sure

437
00:23:02,760 --> 00:23:05,840
Speaker 2: if you live in Westbury you agree. And there is

438
00:23:05,880 --> 00:23:08,560
Speaker 2: an argument for that when he says the SA ANDDF

439
00:23:08,560 --> 00:23:12,159
Speaker 2: has been well capacitated. How so what's changed since what

440
00:23:12,200 --> 00:23:15,240
Speaker 2: happened in Gorma in the DRC, I mean nothing that

441
00:23:15,359 --> 00:23:18,280
Speaker 2: I can see. Wasn't that long ago after all. So

442
00:23:18,320 --> 00:23:23,240
Speaker 2: I'm sorry to say this, but I'm a little cynical,

443
00:23:23,280 --> 00:23:25,760
Speaker 2: would be I don't know if cynical is the right word.

444
00:23:26,200 --> 00:23:30,520
Speaker 2: I'm sadly cynical about it. How's that twenty one minutes

445
00:23:30,560 --> 00:23:33,720
Speaker 2: now to seven show the Friday File?

446
00:23:33,880 --> 00:23:34,879
Speaker 1: The Friday File?

447
00:23:35,240 --> 00:23:38,119
Speaker 2: Well, eighteen minutes now to seven the time next this

448
00:23:38,280 --> 00:23:40,399
Speaker 2: time next week, I think most of joe Bergen, in

449
00:23:40,480 --> 00:23:42,520
Speaker 2: fact a large part of the country will have a

450
00:23:42,560 --> 00:23:46,280
Speaker 2: bit of golfing fever, not something I've ever had. Next

451
00:23:46,280 --> 00:23:49,800
Speaker 2: weekend is the first live Golf South Africa tournaments being

452
00:23:49,800 --> 00:23:52,159
Speaker 2: hosted at Stanes City and joe Burg. And please to

453
00:23:52,200 --> 00:23:54,480
Speaker 2: tell you we've actually got the general manager of the

454
00:23:54,520 --> 00:23:58,199
Speaker 2: team that represents us, the Southern Guards Golf Club. His

455
00:23:58,280 --> 00:24:00,960
Speaker 2: name is Richard Glover. He's been a professional sport for

456
00:24:01,000 --> 00:24:03,240
Speaker 2: many years. Richard. Good evening, Great to talk to you again,

457
00:24:03,280 --> 00:24:04,680
Speaker 2: Thanks for taking the time to chat.

458
00:24:05,960 --> 00:24:07,840
Speaker 4: Hi, Steven, great to chat to you again.

459
00:24:08,680 --> 00:24:11,720
Speaker 2: A big so, I mean, for the first time really

460
00:24:11,760 --> 00:24:13,760
Speaker 2: for us a home game for live golf. It's going

461
00:24:13,800 --> 00:24:14,920
Speaker 2: to be massive next week.

462
00:24:16,280 --> 00:24:18,640
Speaker 4: Yeah, I think it's the hottest ticket in town at

463
00:24:18,640 --> 00:24:20,520
Speaker 4: the moment. I mean my phone is ringing off the

464
00:24:20,520 --> 00:24:23,040
Speaker 4: book in terms of people wanting tickets. I think we're

465
00:24:23,080 --> 00:24:26,200
Speaker 4: over ninety thousand tickets sold over the four days and

466
00:24:26,240 --> 00:24:28,800
Speaker 4: the number keeps on climbing. So it's an exciting time,

467
00:24:29,040 --> 00:24:31,159
Speaker 4: not just for live golf, but also for Southern Guards

468
00:24:31,200 --> 00:24:31,600
Speaker 4: as well.

469
00:24:32,480 --> 00:24:33,800
Speaker 2: I'm going to come to them in a sec But

470
00:24:34,040 --> 00:24:37,400
Speaker 2: I mean often when we talk about seeing golfers in

471
00:24:37,440 --> 00:24:40,640
Speaker 2: South Africa, we're really talking about Sun City. To see

472
00:24:40,640 --> 00:24:43,320
Speaker 2: them in joe Burg in a space where people actually live,

473
00:24:43,400 --> 00:24:45,640
Speaker 2: I mean it's Staying City, but still in joe Burg.

474
00:24:45,800 --> 00:24:49,080
Speaker 2: I mean, I think that's huge. It's really about sort

475
00:24:49,080 --> 00:24:52,440
Speaker 2: of bringing golf and the golfers the people representing us

476
00:24:52,520 --> 00:24:54,200
Speaker 2: much closer to us.

477
00:24:55,480 --> 00:24:57,840
Speaker 4: Yeah, and that's really what live Golf is about. It's

478
00:24:57,880 --> 00:25:02,400
Speaker 4: really about trying to demock, critize golf and really bring

479
00:25:02,440 --> 00:25:04,879
Speaker 4: golf to the people in a more accessible way. And

480
00:25:04,920 --> 00:25:07,920
Speaker 4: I think the South African public they sort of intrinsically

481
00:25:08,000 --> 00:25:11,080
Speaker 4: understand what live Golf is about. It's really a sports

482
00:25:11,119 --> 00:25:14,040
Speaker 4: lifestyle experience. It's about what happens on the course, but

483
00:25:14,480 --> 00:25:16,680
Speaker 4: also what happens off the course as well. And I

484
00:25:16,720 --> 00:25:19,080
Speaker 4: think people are really excited to see some great names

485
00:25:19,240 --> 00:25:20,880
Speaker 4: in terms of some of the biggest names in world

486
00:25:20,960 --> 00:25:23,640
Speaker 4: golf playing at Stay and City next weekend, but they're

487
00:25:23,680 --> 00:25:25,679
Speaker 4: equally excited about some of the stuff that's happening off

488
00:25:25,720 --> 00:25:27,199
Speaker 4: the course in terms of, you know, some of the

489
00:25:27,240 --> 00:25:29,440
Speaker 4: concerts and some of the activities that are happening with

490
00:25:29,480 --> 00:25:31,760
Speaker 4: the likes of Black Coffee playing on the Friday nights

491
00:25:31,760 --> 00:25:34,560
Speaker 4: and a global superstar DJ in Calvin Harris playing on

492
00:25:34,560 --> 00:25:36,560
Speaker 4: the Saturday night. So yeah, it's really exciting.

493
00:25:36,840 --> 00:25:38,280
Speaker 2: No, it's really I mean it's really going to be

494
00:25:38,359 --> 00:25:41,880
Speaker 2: quite something. I mean, you talk about innovation in golf

495
00:25:41,920 --> 00:25:44,720
Speaker 2: and it does have i'm afraid to say, a reputation

496
00:25:44,800 --> 00:25:46,800
Speaker 2: of being a bit stuffier, bit old fashioned. I mean,

497
00:25:47,080 --> 00:25:49,800
Speaker 2: my family loves watching the movie Happy Gilmour, which is

498
00:25:49,840 --> 00:25:52,439
Speaker 2: all about classism in golf in America. Really, I mean

499
00:25:52,440 --> 00:25:55,960
Speaker 2: it's a silly movie, but it's fun, and I mean

500
00:25:56,000 --> 00:25:57,800
Speaker 2: to go about changing that, there are all sorts of

501
00:25:57,840 --> 00:26:00,680
Speaker 2: things that you can do, social media, change some of

502
00:26:00,760 --> 00:26:03,280
Speaker 2: the rules. Do you think it's working. I mean, golf

503
00:26:03,359 --> 00:26:06,280
Speaker 2: does seem to have a little bit more momentum now.

504
00:26:07,520 --> 00:26:09,480
Speaker 4: Yeah, I think so. I mean I can only speak

505
00:26:09,480 --> 00:26:11,600
Speaker 4: on behalf of Live Golf in terms of what Live

506
00:26:11,680 --> 00:26:15,040
Speaker 4: Golf does, and from a product perspective, the Live Golf

507
00:26:15,080 --> 00:26:17,639
Speaker 4: product is rarely trying to operate what we call the

508
00:26:17,720 --> 00:26:22,000
Speaker 4: intersection of sport, music and culture, and because of that,

509
00:26:22,280 --> 00:26:25,120
Speaker 4: it seems to be resonating globally with a younger audience.

510
00:26:25,160 --> 00:26:27,800
Speaker 4: Like just to share some data with you so globally,

511
00:26:27,840 --> 00:26:29,800
Speaker 4: thirty percent of people who come to a live golf

512
00:26:29,840 --> 00:26:32,320
Speaker 4: event have never been to a golf event in their life,

513
00:26:32,320 --> 00:26:35,959
Speaker 4: and as a result, the audience SCUS younger like over half,

514
00:26:36,200 --> 00:26:39,080
Speaker 4: over fifty percent of the audience's aged under thirty four,

515
00:26:39,400 --> 00:26:42,040
Speaker 4: and also scws more female than traditional golf as well.

516
00:26:42,080 --> 00:26:45,960
Speaker 4: So we really see it as opening up a sport

517
00:26:46,320 --> 00:26:48,840
Speaker 4: and making it more exciting to people who wouldn't necessarily

518
00:26:48,960 --> 00:26:51,480
Speaker 4: ever consider following or watching golf, or even playing golf.

519
00:26:51,920 --> 00:26:54,320
Speaker 2: The other thing about that, and this is a very

520
00:26:54,320 --> 00:26:57,320
Speaker 2: sort of South African comment to me that if someone said,

521
00:26:57,480 --> 00:26:59,119
Speaker 2: if someone gave me money and said, go ahead and

522
00:26:59,160 --> 00:27:01,760
Speaker 2: criticize the sport of golf, I would start with the

523
00:27:01,800 --> 00:27:05,320
Speaker 2: fact that it's very European and North American. We finally

524
00:27:05,359 --> 00:27:06,080
Speaker 2: have it here.

525
00:27:08,440 --> 00:27:11,760
Speaker 4: Absolutely. So I think live Golf positions itself as the

526
00:27:11,800 --> 00:27:14,680
Speaker 4: global golf League. But to be a global league of

527
00:27:14,720 --> 00:27:17,359
Speaker 4: any kind, you have to be in as many continents

528
00:27:17,359 --> 00:27:20,359
Speaker 4: as possible. I think livers all over the world, Australia,

529
00:27:20,359 --> 00:27:23,679
Speaker 4: Hong Kong, South Korea, Europe, the USA. But now we

530
00:27:23,680 --> 00:27:25,960
Speaker 4: can truly call ourselves a global golf league because of

531
00:27:26,000 --> 00:27:28,280
Speaker 4: the fact we are coming to South Africa, and I

532
00:27:28,280 --> 00:27:31,240
Speaker 4: think if you look at South Africa from a value proposition,

533
00:27:31,560 --> 00:27:33,400
Speaker 4: it really takes a lot of boxes. I mean, we've

534
00:27:33,440 --> 00:27:36,120
Speaker 4: got a strong history of golf in this country. We've

535
00:27:36,160 --> 00:27:40,320
Speaker 4: got passionate sport fans who love watching big, big time

536
00:27:40,400 --> 00:27:44,560
Speaker 4: international sport. We've got some great golf courses, and thankfully

537
00:27:44,600 --> 00:27:46,800
Speaker 4: we've had great government supports in terms of bringing this

538
00:27:46,880 --> 00:27:49,040
Speaker 4: event here thanks to the Minister of Sport, Arts and

539
00:27:49,040 --> 00:27:52,000
Speaker 4: Culture Gates and Mackenzie, but also corporate South Africa's rarely

540
00:27:52,000 --> 00:27:54,080
Speaker 4: got behind us from a sponsorship perspective as well.

541
00:27:54,600 --> 00:27:56,560
Speaker 2: So our team, the team that you're managing, I mean

542
00:27:56,640 --> 00:27:59,520
Speaker 2: Louis Vustes and obviously the captain, and we've got Brandon Grayson,

543
00:27:59,560 --> 00:28:02,240
Speaker 2: Dean Burmeister and Charles Schwatzer. I mean these are all

544
00:28:02,920 --> 00:28:06,399
Speaker 2: names that are household names, even among the millions of

545
00:28:06,480 --> 00:28:09,520
Speaker 2: us who have never been to a golf event. I

546
00:28:09,560 --> 00:28:11,880
Speaker 2: mean to manage them firstly, I just need to ask.

547
00:28:11,960 --> 00:28:13,640
Speaker 2: I mean you know this because I know you've worked

548
00:28:13,640 --> 00:28:16,840
Speaker 2: in professional sport for a long time, but at home ground,

549
00:28:16,920 --> 00:28:19,720
Speaker 2: to have a home crowd sharing you on, even in

550
00:28:19,760 --> 00:28:21,600
Speaker 2: a sport like golf, that must matter.

551
00:28:23,240 --> 00:28:25,320
Speaker 4: It certainly does and I think that the boys are

552
00:28:25,359 --> 00:28:28,040
Speaker 4: really proud to represent South Africa on the global stage.

553
00:28:28,200 --> 00:28:29,919
Speaker 4: If you look very closely at their collars on the

554
00:28:29,920 --> 00:28:31,720
Speaker 4: back of the collars when they play in Hong Kong

555
00:28:31,800 --> 00:28:34,320
Speaker 4: or Australia or Singapore or the US, they play with

556
00:28:34,359 --> 00:28:37,119
Speaker 4: the South African flag on their collars, and that's because

557
00:28:37,119 --> 00:28:39,560
Speaker 4: they feel like they are representing the country. So for

558
00:28:39,600 --> 00:28:41,440
Speaker 4: them to come back and to play in front of

559
00:28:41,440 --> 00:28:43,440
Speaker 4: home crowds, I can tell you I spoke to them

560
00:28:43,440 --> 00:28:46,320
Speaker 4: earlier this week and they they're really excited about playing

561
00:28:46,480 --> 00:28:48,200
Speaker 4: in front of home crowds, but they're also feeling a

562
00:28:48,240 --> 00:28:50,040
Speaker 4: bit nervous as well. I think they're feeling the weight

563
00:28:50,120 --> 00:28:53,360
Speaker 4: of expectations. But overall, I think the excitement levels amongst

564
00:28:53,360 --> 00:28:55,600
Speaker 4: those for it are really really high. It means a

565
00:28:55,600 --> 00:28:57,040
Speaker 4: lot to them to be able to play in front

566
00:28:57,040 --> 00:28:59,840
Speaker 4: of their home crowd. And it's not like we're underdogs.

567
00:29:00,000 --> 00:29:02,200
Speaker 2: I mean, so many of our players, as you say,

568
00:29:02,240 --> 00:29:04,120
Speaker 2: have been world class over the years.

569
00:29:05,880 --> 00:29:08,840
Speaker 4: Yeah, I mean as a golfing nation, we punch above

570
00:29:08,840 --> 00:29:10,520
Speaker 4: our weights. I mean I think a lot of your

571
00:29:10,560 --> 00:29:12,920
Speaker 4: listeners will know the prid history of South African golf

572
00:29:12,960 --> 00:29:15,320
Speaker 4: going back many many years and the four players who

573
00:29:15,360 --> 00:29:18,160
Speaker 4: represent the Southern Guard's team are four of the most

574
00:29:18,200 --> 00:29:22,480
Speaker 4: recognizable golfers from a South African perspective, but they also

575
00:29:22,680 --> 00:29:25,200
Speaker 4: are competing very successfully on the Live Golf Tour. So

576
00:29:25,280 --> 00:29:28,560
Speaker 4: last year the team had had individual and team success

577
00:29:28,600 --> 00:29:31,600
Speaker 4: in Chicago at the Team Championships, which is at the

578
00:29:31,680 --> 00:29:33,520
Speaker 4: end of the year, we finished third as well. So

579
00:29:33,840 --> 00:29:36,320
Speaker 4: we're a very competitive team. And I think we're going

580
00:29:36,360 --> 00:29:37,960
Speaker 4: to do South Africa Proud next week.

581
00:29:38,960 --> 00:29:41,480
Speaker 2: So you've got a vibe, you've got a crowd, You've

582
00:29:41,520 --> 00:29:44,360
Speaker 2: clearly got people coming of your phone, springing of the hook.

583
00:29:44,400 --> 00:29:48,720
Speaker 2: And the way that it is to make this successful

584
00:29:48,760 --> 00:29:51,239
Speaker 2: requires a lot of organization. As you say, government's been

585
00:29:51,280 --> 00:29:52,840
Speaker 2: a big part of it. I mean, there are lots

586
00:29:52,840 --> 00:29:55,560
Speaker 2: of people to make all of this work. Ninety people

587
00:29:55,680 --> 00:29:57,560
Speaker 2: is a lot to manage in a venue like that.

588
00:30:00,040 --> 00:30:02,360
Speaker 4: I mean, because this is the first year to a degree,

589
00:30:02,480 --> 00:30:05,480
Speaker 4: we stepping into the unknown, because we I mean, there's

590
00:30:05,520 --> 00:30:07,840
Speaker 4: lots of unknown variables and you can plan and plan

591
00:30:07,920 --> 00:30:10,680
Speaker 4: and plan, but they'll be there'll obviously be things that

592
00:30:10,720 --> 00:30:12,840
Speaker 4: happen that you don't necessarily plan for. But I must

593
00:30:12,880 --> 00:30:16,720
Speaker 4: say I did a site tour earlier today, and I

594
00:30:16,760 --> 00:30:19,680
Speaker 4: was just so impressed with the setup and the infrastructure

595
00:30:20,080 --> 00:30:22,400
Speaker 4: and the care and attention that's gone into this. I

596
00:30:22,440 --> 00:30:25,200
Speaker 4: think as a South African, I mean, I mean, as

597
00:30:25,240 --> 00:30:27,080
Speaker 4: you said earlier, I'm a grizzled veteran of the South

598
00:30:27,120 --> 00:30:29,840
Speaker 4: African sports industry, but as a South African, I was

599
00:30:29,880 --> 00:30:32,120
Speaker 4: just really proud what I saw today, Like it's an

600
00:30:32,160 --> 00:30:34,800
Speaker 4: all South African team delivering this, and they really are

601
00:30:34,960 --> 00:30:37,560
Speaker 4: doing the country pride, and they are delivering a world

602
00:30:37,600 --> 00:30:39,479
Speaker 4: class sporting event, and it's something that we should all

603
00:30:39,480 --> 00:30:39,920
Speaker 4: be proud of.

604
00:30:40,720 --> 00:30:43,160
Speaker 2: And I mean, obviously we wanted to come back, we

605
00:30:43,200 --> 00:30:45,880
Speaker 2: wanted to be one of the best events on the tour.

606
00:30:46,400 --> 00:30:49,160
Speaker 2: There are certain things we can do to do that. Obviously,

607
00:30:49,800 --> 00:30:51,720
Speaker 2: we need to make sure everything works for a start,

608
00:30:52,080 --> 00:30:53,840
Speaker 2: and the facilities of the place where you're doing it

609
00:30:53,840 --> 00:30:54,640
Speaker 2: are a big help to that.

610
00:30:56,160 --> 00:31:00,560
Speaker 4: Yeah. Absolutely, I think a stand city was selected for

611
00:31:00,600 --> 00:31:02,520
Speaker 4: a number of reasons. I mean, they obviously needs all

612
00:31:02,520 --> 00:31:04,520
Speaker 4: the criteria in terms of what we needed, but one

613
00:31:04,560 --> 00:31:07,760
Speaker 4: of the biggest, biggest things was actually space, because to

614
00:31:07,800 --> 00:31:10,200
Speaker 4: deliver a live golf event is not just about the

615
00:31:10,200 --> 00:31:12,800
Speaker 4: golf course. It's about putting in place a huge fan

616
00:31:12,920 --> 00:31:15,640
Speaker 4: village to cater to every wom that a fan can want.

617
00:31:16,080 --> 00:31:18,680
Speaker 4: It's about putting in place a concert venue for upwards

618
00:31:18,720 --> 00:31:21,080
Speaker 4: of thirty thousand people and stay in the city. Were

619
00:31:21,120 --> 00:31:23,120
Speaker 4: able to do that. So yeah, it's been a pleasure

620
00:31:23,160 --> 00:31:25,000
Speaker 4: to work with them, and they've been great, They've been

621
00:31:25,040 --> 00:31:27,280
Speaker 4: great partners in this, in this project.

622
00:31:28,360 --> 00:31:30,560
Speaker 2: The way forward for golf. I mean, you do want

623
00:31:30,640 --> 00:31:33,040
Speaker 2: to get and this is not I mean, it's not

624
00:31:33,080 --> 00:31:35,240
Speaker 2: really an event I would necessarily take my kids to

625
00:31:35,440 --> 00:31:37,280
Speaker 2: maybe maybe in a couple of years, but not now.

626
00:31:37,640 --> 00:31:40,000
Speaker 2: But you do need to get younger people watching it.

627
00:31:40,080 --> 00:31:41,880
Speaker 2: You need to you know, and by which I mean

628
00:31:41,920 --> 00:31:43,840
Speaker 2: people at school, and I mean there are plenty of

629
00:31:43,880 --> 00:31:46,440
Speaker 2: school kids in South Africa who know about golf, watch golf,

630
00:31:46,480 --> 00:31:48,800
Speaker 2: some of them play it. But it's very important to

631
00:31:48,840 --> 00:31:49,440
Speaker 2: keep that going.

632
00:31:51,200 --> 00:31:53,680
Speaker 4: Yeah, absolutely, and I think the Lift product is really

633
00:31:53,680 --> 00:31:57,720
Speaker 4: been designed with younger generation in mind. So there's a

634
00:31:57,760 --> 00:32:00,440
Speaker 4: lot going on. There's a lot of music on the course.

635
00:32:00,520 --> 00:32:03,200
Speaker 4: Music's a really important part of the value proposition, so

636
00:32:03,240 --> 00:32:06,040
Speaker 4: there's always music. And also the product's being designed in

637
00:32:06,080 --> 00:32:08,160
Speaker 4: a way not to be a six or seven or

638
00:32:08,200 --> 00:32:10,240
Speaker 4: eight hour event. It's a four to four and a

639
00:32:10,280 --> 00:32:12,960
Speaker 4: half hour event and it's a shotgun start, so you've

640
00:32:12,960 --> 00:32:15,880
Speaker 4: got players on every hole at every moment of play.

641
00:32:16,000 --> 00:32:19,040
Speaker 4: So it's really been, as I said, that designed and

642
00:32:19,080 --> 00:32:21,760
Speaker 4: developed for a younger generation, and it's resonating in terms

643
00:32:21,760 --> 00:32:23,960
Speaker 4: of some of those stats and data that I shared earlier.

644
00:32:24,080 --> 00:32:27,160
Speaker 4: It's really delivering our younger audience to golf. Now. I

645
00:32:27,200 --> 00:32:29,920
Speaker 4: think from our perspective, we don't see ourselves as being

646
00:32:29,920 --> 00:32:33,400
Speaker 4: competitors to what i'd call traditional golf. We actually see

647
00:32:33,400 --> 00:32:36,040
Speaker 4: ourselves as being complementary. We think we can really open

648
00:32:36,120 --> 00:32:38,720
Speaker 4: up golf to a completely different generation and as I

649
00:32:38,720 --> 00:32:42,240
Speaker 4: said earlier, democracize golf in a way that hasn't necessarily

650
00:32:42,320 --> 00:32:43,600
Speaker 4: been seen in South Africa before.

651
00:32:43,760 --> 00:32:45,640
Speaker 2: I mean, there's a fascinating thing happening in the world

652
00:32:45,680 --> 00:32:48,600
Speaker 2: of sport around this because you see it. You know,

653
00:32:48,960 --> 00:32:50,960
Speaker 2: Formula one's a good example that had the sort of

654
00:32:50,960 --> 00:32:54,960
Speaker 2: Netflix and reality show that did very well that brought

655
00:32:54,960 --> 00:32:58,400
Speaker 2: in new people. With cricket, you've gone from you know,

656
00:32:58,520 --> 00:33:02,480
Speaker 2: one day Internationals to tea when tees, and then with

657
00:33:02,840 --> 00:33:05,200
Speaker 2: golf you have also where you have the sort of

658
00:33:05,200 --> 00:33:07,200
Speaker 2: traditional golf, but then you have what you have here

659
00:33:07,360 --> 00:33:09,960
Speaker 2: shotgun starts and things like that. I mean, it's an

660
00:33:09,960 --> 00:33:14,360
Speaker 2: amazing period of sporting innovation. What golf also has to do, though,

661
00:33:14,720 --> 00:33:17,560
Speaker 2: is mind the competition, because as you can see, they're

662
00:33:17,560 --> 00:33:19,800
Speaker 2: obviously not the only ones who are innovating so strongly

663
00:33:19,880 --> 00:33:20,320
Speaker 2: at the moment.

664
00:33:21,640 --> 00:33:24,480
Speaker 4: Yeah, I mean, I think traditional sports rights holders need

665
00:33:24,520 --> 00:33:27,400
Speaker 4: to almost break away from that traditional model where you

666
00:33:27,440 --> 00:33:29,719
Speaker 4: see yourself as a rights holder being in competition with

667
00:33:29,760 --> 00:33:32,800
Speaker 4: other sports, because you're not. Ultimately, you're in competition with

668
00:33:32,960 --> 00:33:35,600
Speaker 4: every form of entertainment going out there, and so you

669
00:33:35,600 --> 00:33:37,320
Speaker 4: have to really look at your product and look at

670
00:33:37,360 --> 00:33:40,240
Speaker 4: your brand, and look at your everything that you're delivering

671
00:33:40,240 --> 00:33:43,080
Speaker 4: to the public. In that lens, it's not just about

672
00:33:43,120 --> 00:33:45,880
Speaker 4: the sport now, it's about everything around the sports as well.

673
00:33:45,920 --> 00:33:48,640
Speaker 4: Be at the content strategy, be at the social media

674
00:33:48,680 --> 00:33:50,520
Speaker 4: side of things. It's yeah, I mean, it has to

675
00:33:50,520 --> 00:33:53,680
Speaker 4: be a three hundred and sixty degree product that you're delivering.

676
00:33:53,520 --> 00:33:55,800
Speaker 2: And you have to keep going all the time. There

677
00:33:55,800 --> 00:33:57,360
Speaker 2: has to sort of be an event, and there has

678
00:33:57,400 --> 00:33:59,520
Speaker 2: to be a slight off season at some point so

679
00:33:59,600 --> 00:34:01,280
Speaker 2: that people sort of miss it, and you have to

680
00:34:01,320 --> 00:34:04,160
Speaker 2: manage all of those things. The global nature of a

681
00:34:04,200 --> 00:34:06,320
Speaker 2: sport like this, I mean it comes with huge advantages.

682
00:34:06,360 --> 00:34:08,200
Speaker 2: You do have to manage time zones, which I know

683
00:34:08,320 --> 00:34:10,239
Speaker 2: can be very very difficult. I mean, that's why you

684
00:34:10,320 --> 00:34:12,600
Speaker 2: end up with having a Las Vegas grant pre at

685
00:34:12,640 --> 00:34:16,560
Speaker 2: midnight and things like that. But the sport itself must

686
00:34:16,640 --> 00:34:18,880
Speaker 2: be fascinating from the inside. I mean, just doing what

687
00:34:18,880 --> 00:34:20,799
Speaker 2: you're doing at the moment, you must see so many

688
00:34:20,840 --> 00:34:22,040
Speaker 2: interesting things.

689
00:34:22,880 --> 00:34:27,360
Speaker 4: Yeah, I mean I I joined Live about maybe fourteen

690
00:34:27,440 --> 00:34:29,880
Speaker 4: fifteen months ago, and I was actually worked in tennis,

691
00:34:29,920 --> 00:34:31,480
Speaker 4: so I was in a very stable job in tennis,

692
00:34:31,480 --> 00:34:33,560
Speaker 4: and when the Liver opportunity came up, I didn't hesitate

693
00:34:33,640 --> 00:34:35,840
Speaker 4: because for me this is very much a once in

694
00:34:35,880 --> 00:34:39,279
Speaker 4: a lifetime sporting opportunity. I mean, Live Live is an

695
00:34:39,280 --> 00:34:43,600
Speaker 4: amazing disruptor in global sports. And what you're seeing in

696
00:34:43,640 --> 00:34:45,879
Speaker 4: the global sports of golf on the back of Live

697
00:34:46,000 --> 00:34:48,680
Speaker 4: is you're seeing more innovation in golf now in the

698
00:34:48,760 --> 00:34:50,680
Speaker 4: last four or five years than you've probably seen in

699
00:34:50,680 --> 00:34:53,200
Speaker 4: the previous thirty years of golf. And that's been driven

700
00:34:53,239 --> 00:34:56,640
Speaker 4: by competition and disruption and a variety of products on

701
00:34:56,719 --> 00:34:59,200
Speaker 4: offer that Lived but also traditional golf offers as well.

702
00:35:00,239 --> 00:35:02,800
Speaker 2: Richard great to talk again, Thank you very much. Indeed,

703
00:35:03,040 --> 00:35:05,160
Speaker 2: and good luck for next weekend. We're going to be watching,

704
00:35:05,160 --> 00:35:06,839
Speaker 2: We're going to be cheering, even if we're not there

705
00:35:06,880 --> 00:35:09,520
Speaker 2: in person. Just know that we'll be the ones cheering.

706
00:35:11,120 --> 00:35:12,880
Speaker 4: Thanks Steven, great chat, Good.

707
00:35:12,680 --> 00:35:15,680
Speaker 2: To chat again. Richard Glover is the general manager of

708
00:35:15,960 --> 00:35:18,799
Speaker 2: Southern Guards Golf Club. This is the team that will

709
00:35:18,800 --> 00:35:22,319
Speaker 2: be representing us at the live golfers. Names again, just

710
00:35:22,360 --> 00:35:25,640
Speaker 2: in case you've forgotten, the Captain, Luisquisdays and Brandon Grace,

711
00:35:25,719 --> 00:35:28,920
Speaker 2: Dean Burmeister and Schol Schwartzel. As I say, even if

712
00:35:28,920 --> 00:35:32,520
Speaker 2: you haven't been watching golf, you will absolutely know those names,

713
00:35:32,560 --> 00:35:35,520
Speaker 2: and I think after next weekend we may know them

714
00:35:35,680 --> 00:35:38,040
Speaker 2: a little bit more. Six minutes SNARTO seven.

715
00:35:38,640 --> 00:35:44,520
Speaker 6: Step taking your calls on one one eight, three seven two.

716
00:35:44,680 --> 00:35:48,040
Speaker 2: Time now for the Friday bis. Let's you know how

717
00:35:48,040 --> 00:35:50,520
Speaker 2: it works. You call us on a double one double

718
00:35:50,560 --> 00:35:52,799
Speaker 2: A three oh seven O two two one four four

719
00:35:52,840 --> 00:35:55,440
Speaker 2: six O five six seven. We put out a question.

720
00:35:55,719 --> 00:35:58,239
Speaker 2: If you get it right, we move on to the

721
00:35:58,280 --> 00:36:01,960
Speaker 2: next question. If you get it wrong, we move on

722
00:36:02,120 --> 00:36:05,600
Speaker 2: to the next caller. Very very simple, first question tonight

723
00:36:06,040 --> 00:36:08,680
Speaker 2: on the Friday Biz Blitz, and we thought this would

724
00:36:08,680 --> 00:36:12,200
Speaker 2: be fun. What is the retirement age it's Standard bank?

725
00:36:12,640 --> 00:36:15,520
Speaker 2: Sim What is the retirement age its standard bank? Is

726
00:36:15,520 --> 00:36:18,839
Speaker 2: it seventy sixty or sixty three?

727
00:36:19,120 --> 00:36:19,279
Speaker 6: Oh?

728
00:36:19,280 --> 00:36:21,640
Speaker 2: Double one double A three oh seven, O two two

729
00:36:21,680 --> 00:36:25,239
Speaker 2: one four, four, six, five six seven? What is the

730
00:36:25,280 --> 00:36:29,840
Speaker 2: retirement age it's standard bank? Is it seventy sixty or

731
00:36:29,880 --> 00:36:32,240
Speaker 2: sixty three?

732
00:36:32,800 --> 00:36:35,640
Speaker 7: The Money Show Stephen Krutez is brought to you by APPS,

733
00:36:35,680 --> 00:36:40,000
Speaker 7: our corporate and investment banking proud sponsors of GTR Africa

734
00:36:40,040 --> 00:36:43,560
Speaker 7: twenty twenty six, enabling trade flows for growth, as is

735
00:36:43,600 --> 00:36:45,239
Speaker 7: the rigiteraysp.

736
00:36:47,080 --> 00:36:50,320
Speaker 1: The Money Show Friday Buslitz.

737
00:36:49,960 --> 00:36:52,600
Speaker 2: Three minutes to seven. Okay, you know how it works.

738
00:36:52,840 --> 00:36:54,840
Speaker 2: You get the answer right, We move on to the

739
00:36:54,920 --> 00:36:56,680
Speaker 2: next question. You get it wrong, We move on to

740
00:36:56,719 --> 00:36:59,239
Speaker 2: the next caller. Oh, double one double A three O

741
00:36:59,440 --> 00:37:02,399
Speaker 2: seven oh two two one four four six five sixty seven?

742
00:37:02,480 --> 00:37:03,200
Speaker 7: What is the.

743
00:37:03,280 --> 00:37:07,719
Speaker 2: Retirement age at Standard bank? Is it seventy sixty or

744
00:37:07,800 --> 00:37:14,040
Speaker 2: sixty three? Julian in Centurion high sixty three A Centurion?

745
00:37:14,360 --> 00:37:17,040
Speaker 2: I mean Centian, Oh Julian, don't be so boring, of course,

746
00:37:17,080 --> 00:37:23,880
Speaker 2: you're right, Oh I No, Okay, We've got a different

747
00:37:23,960 --> 00:37:26,000
Speaker 2: question for you. Let's see how long you've been listening

748
00:37:26,040 --> 00:37:29,080
Speaker 2: to the radio today. We've spent the week talking about

749
00:37:29,160 --> 00:37:34,320
Speaker 2: oil prices and the Strait of Hormuz. Three nation states

750
00:37:34,840 --> 00:37:39,880
Speaker 2: border the strait. They are Iran, the United Arab Emirates,

751
00:37:40,239 --> 00:37:43,960
Speaker 2: and which other country? Which is the third country that

752
00:37:44,120 --> 00:37:46,720
Speaker 2: borders the straits of Ramuz? Julian?

753
00:37:46,760 --> 00:37:47,080
Speaker 6: Do you know?

754
00:37:48,080 --> 00:37:48,279
Speaker 4: Yes?

755
00:37:48,440 --> 00:37:54,839
Speaker 2: Oh man, Now, Julian, that's being very boring. Yes. Did

756
00:37:54,880 --> 00:37:57,520
Speaker 2: you know before this oil crisis or only after?

757
00:37:58,600 --> 00:37:58,719
Speaker 4: No?

758
00:37:58,840 --> 00:37:59,760
Speaker 6: No, I knew before.

759
00:38:00,200 --> 00:38:05,160
Speaker 2: Okay, all right. ESCAM says that it has to start

760
00:38:05,200 --> 00:38:10,200
Speaker 2: a process to switch off fourteen municipalities around the country.

761
00:38:10,880 --> 00:38:15,640
Speaker 2: Which is the only metro that has the honor of

762
00:38:15,680 --> 00:38:19,520
Speaker 2: being on that list. I'm going to take a gear.

763
00:38:21,320 --> 00:38:24,920
Speaker 2: The only problem, the only metro that has the honor

764
00:38:25,600 --> 00:38:28,799
Speaker 2: of being on the list of Eskim's municipalities it wants

765
00:38:28,800 --> 00:38:29,480
Speaker 2: to switch off.

766
00:38:32,080 --> 00:38:40,440
Speaker 3: I would say, what you watch the Joba metro, Well.

767
00:38:38,880 --> 00:38:42,600
Speaker 2: The Jobag metro would be the city of Jobag. I suppose, yeah,

768
00:38:42,680 --> 00:38:47,440
Speaker 2: city of job Tillian. You're suddenly very interesting. But now

769
00:38:47,520 --> 00:38:55,800
Speaker 2: I'm afraid it's not uh Selma on the line from rulequt. Yes, Selma,

770
00:38:55,840 --> 00:38:58,640
Speaker 2: you are right, it is, Yes.

771
00:38:58,719 --> 00:39:00,400
Speaker 4: Thank you okay, here we go.

772
00:39:00,840 --> 00:39:04,400
Speaker 2: President Sarah Ramapausa wants to see a lot more labor

773
00:39:04,440 --> 00:39:08,680
Speaker 2: inspectors working for the labor department. How many new labor

774
00:39:08,719 --> 00:39:12,000
Speaker 2: inspectors has he promised? Is it one thousand, five hundred,

775
00:39:12,080 --> 00:39:15,120
Speaker 2: ten thousand or twenty thousand.

776
00:39:16,480 --> 00:39:22,000
Speaker 6: One thousand? I think I'm.

777
00:39:20,719 --> 00:39:24,960
Speaker 2: Sorry, Selma, you are wrong. I'm afraid sorry about that.

778
00:39:25,160 --> 00:39:27,600
Speaker 2: The President he wants to see many more labor inspectors

779
00:39:27,600 --> 00:39:29,919
Speaker 2: working for the labor department. How many does he want?

780
00:39:30,400 --> 00:39:34,280
Speaker 2: One thousand, five hundred, ten thousand or twenty thousand? Tummeling

781
00:39:34,360 --> 00:39:35,560
Speaker 2: in Boxburg, Hi.

782
00:39:36,360 --> 00:39:39,160
Speaker 4: Ten thousand, miling in Boxburg.

783
00:39:38,960 --> 00:39:44,040
Speaker 2: Tumaling and Boksburg. You are, sir correct? Okay, last question?

784
00:39:44,080 --> 00:39:45,120
Speaker 2: Are you ready? Here we go?

785
00:39:45,320 --> 00:39:47,000
Speaker 4: I am Three.

786
00:39:47,040 --> 00:39:50,920
Speaker 2: South African airlines have said they're increasing prices because of

787
00:39:51,000 --> 00:39:56,480
Speaker 2: high fuel prices, right. SAA and fly Safe are two

788
00:39:56,520 --> 00:40:00,160
Speaker 2: of them. What's the name of the third one?

789
00:40:01,080 --> 00:40:01,799
Speaker 6: Lift their lunch?

790
00:40:02,840 --> 00:40:09,160
Speaker 2: Oh, Tom Alan, I'm sorry, it's not Timisani. The third

791
00:40:09,160 --> 00:40:13,200
Speaker 2: airline that says they're going to raise fuel ticket prices

792
00:40:13,360 --> 00:40:15,200
Speaker 2: s A A and flys f al the other two

793
00:40:15,200 --> 00:40:22,960
Speaker 2: which is the third, say I'm sorry, Tom, I said

794
00:40:22,960 --> 00:40:26,480
Speaker 2: that that that we know that they have. Sorry Tomasani,

795
00:40:27,360 --> 00:40:29,440
Speaker 2: Let's see if we have time before the news to

796
00:40:29,480 --> 00:40:31,840
Speaker 2: get one more. Let's just see if we're able to

797
00:40:31,880 --> 00:40:35,200
Speaker 2: do it. I think we'll be able to squeeze one

798
00:40:35,280 --> 00:40:39,600
Speaker 2: more in and let lie in Sosankuba High.

799
00:40:41,239 --> 00:40:43,360
Speaker 6: Good evening. It's South African Airway.

800
00:40:44,960 --> 00:40:47,760
Speaker 2: Oh, let's lie, it's not. I'm afraid that's in the clue.

801
00:40:48,680 --> 00:40:51,399
Speaker 2: So the third airline you were looking for is air Link.

802
00:40:51,480 --> 00:40:52,280
Speaker 2: It's seven o'clock