Speaker 1: The Money Show with Stephen Crutis is brought to you
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Speaker 1: management solutions for your business.
Speaker 2: And now The Money Show with Stephen credits on seven
Speaker 2: oh two.
Speaker 3: Let's walk at all seven minutes after six. Good evening,
Speaker 3: Welcome to The Money Show. I'm Stephen Curtis. Glad you're
Speaker 3: with us this Friday evening. Quite a busy day on
Speaker 3: the JC in terms of sort of updates coming through
Speaker 3: in various ways from various companies. We are kind of
Speaker 3: heading into that season. We have a few results interviews
Speaker 3: scheduled for you next week, particularly Monday, I think is
Speaker 3: going to be quite busy, but it also gives you
Speaker 3: a sense of what's going on and happening in the economy.
Speaker 3: For a long time, we've seen various divisions in our society,
Speaker 3: and I'd suggest that one of the biggest divisions we've
Speaker 3: seen is between those who have access to fiber broadband
Speaker 3: what I would call reliable, very fast, unneeded internet in
Speaker 3: other words, doesn't cost you more the more you use
Speaker 3: it right and those who don't, which of course is
Speaker 3: still the vast majority.
Speaker 2: Well.
Speaker 3: A big step in sorting that out today with the
Speaker 3: voticon Nasive deal being approved by the Competition Appeal Court,
Speaker 3: there is sort of one kind of half hurdle left.
Speaker 3: We'll explain that more in a moment. What I'm hoping happens,
Speaker 3: and I don't know what will happen, but what I'm
Speaker 3: hoping happens is that we get just a huge amount
Speaker 3: of roll up. The money will come through now through
Speaker 3: the voticon Nasive deal, and we'll start to actually see
Speaker 3: a real change, and that'll make a real change in
Speaker 3: people's lives. Several reports today that some people in the
Speaker 3: motor industry very worried, of course about jobs. They want
Speaker 3: people to buy South African cars. I completely understand that too.
Speaker 3: They're suggesting to government that we should increase the import
Speaker 3: tariff on new cars that are being imported into South Africa.
Speaker 3: It's currently twenty five percent. They're suggesting it should be
Speaker 3: thirty percent. Now I completely get the idea that we
Speaker 3: should support our car industry. I mean that makes sense
Speaker 3: to me. We need need people to be employed. They
Speaker 3: create other industries. There's been a huge amount of concern
Speaker 3: and worry about what will happen in Graberg, in East London,
Speaker 3: in Nelson Mandela Bay in particular because of the US tariffs,
Speaker 3: and in fact the CEO of BMW South Africa has
Speaker 3: been making this point quite recently around policy as well.
Speaker 3: All well and good, but at the moment you can
Speaker 3: if you are in China for one hundred and thirty
Speaker 3: five thousand grand by possibly the cheapest electric car, it's
Speaker 3: a proper car. It's not like you know the quote
Speaker 3: Bajal quote that you see on the roads. It is
Speaker 3: a proper car. And the point I'm trying to get
Speaker 3: to is, I don't know of raising the price of
Speaker 3: new cars is such a good idea. I mean, it's
Speaker 3: going to make life more expensive for you. I'd like
Speaker 3: your view, please. Maybe you're in the car industry, maybe
Speaker 3: you're not. Maybe you just want a cheap car. No
Speaker 3: double one double A three oh seven two two one
Speaker 3: four four six, five six seven. We'll talk about the
Speaker 3: Votericom deal them assive deal with Duncan McCloud in just
Speaker 3: a moment. Also Steve Theobold, you know him as the
Speaker 3: chair of KRUTH, and he's talking about the reform Tracker.
Speaker 3: We'll get under the hood of that a little bit.
Speaker 3: And then what's called immersive cinema or secret cinema, the
Speaker 3: idea of actually going to a proper cinema and dressing
Speaker 3: up for the occasion, having a meal before, having a discussion,
Speaker 3: after meeting people, going in a group of people suddenly
Speaker 3: beginning to take off. And I mean, I think watching
Speaker 3: cinema now is something that very few people do. You
Speaker 3: set at home, it's easy, it's convenient, I find, and
Speaker 3: I don't know what you sort of do on a Friday,
Speaker 3: but I find there's just so many interruptions. This dog
Speaker 3: needs to be let out, this popcorn is now gone,
Speaker 3: This person needs a drink, this person needs the loo.
Speaker 3: I'm probably responsible for most of them, but I still
Speaker 3: find it quite frustrating. In the cinema. You sit down
Speaker 3: and you shut up, and you listen to the crunch
Speaker 3: of everybody eating their popcorn. But this, I think is
Speaker 3: going to be something a little different. We'll get under
Speaker 3: the hood of that in a little while as well.
Speaker 3: Don't forget voice notes. Last time you went to the cinema, please,
Speaker 3: what did you see and did you enjoy it? Frozen
Speaker 3: two was one of the last times I went to
Speaker 3: a cinema, and I think probably Black Panther two. Maybe
Speaker 3: was the last time I went? Oh seven two seven
Speaker 3: oh two one seven O two Your Memories the last
Speaker 3: movie you went to see in a cinema? Good evening,
Speaker 3: You with the Money Show, eleven after six.
Speaker 4: The Lndy Show with Stephen Kruders Live on ninety two
Speaker 4: point seven and one O six FM, streaming on the
Speaker 4: Prime Media Plus.
Speaker 2: NAP and DStv channel eight five six.
Speaker 3: Well confirmation this morning that the Competition Appeals Court is
Speaker 3: now ruled to allow the merger between Vodicom and Masif
Speaker 3: to go ahead. In other words, they can now invest
Speaker 3: in the rollout of broadband fiber internet in many more places.
Speaker 3: This deal's been in the works for three and a
Speaker 3: half years. The Competition Commission then the Competition Dribunal both
Speaker 3: opposed the deal. Eventually, well they both said it would
Speaker 3: be anti competitive. Eventually the Tribunal withdrew its opposition after
Speaker 3: the two agreed to new conditions. Duncan McLeod is the
Speaker 3: founder and editor at tech Central. Duncan Good evening, A gosh,
Speaker 3: this has taken a long time, and finally, finally it
Speaker 3: seems this merger is very nearly here.
Speaker 5: Yeah, it's been almost four years if you can believe
Speaker 5: their first announces back in November of twenty twenty two.
Speaker 5: Just a correction. It's actually the Competition Commission that's changed
Speaker 5: its mind on this. The Tribunal opposed it right to
Speaker 5: the end, but there were negotiations in recent months with
Speaker 5: the Commission and they agreed on new terms and it
Speaker 5: then went to the Competition of Peer Court and the
Speaker 5: a Peer Court agreed with the modified terms agreed to
Speaker 5: with the Competition Commission and a couple of days ago
Speaker 5: said that the deal can proceed. So yeah, it's going
Speaker 5: ahead after three and a half years of wrangling, and
Speaker 5: the money should flow soon from vot COOM. There's just
Speaker 5: one last regulatory hurdle that has to be able. It
Speaker 5: seems to it's a minor one, and that's a final
Speaker 5: approval from the Communications Regulator CASSA, and then the money
Speaker 5: should flow and it should be sitting in mass of
Speaker 5: the balance sheet and they can start to use it
Speaker 5: to deploy infrastructure.
Speaker 3: You talk about a CASSA if I record they actually
Speaker 3: had given a sort of conditional approval earlier, that would
Speaker 3: suggest then that that should happen hopefully quite easily.
Speaker 5: Yes, my understanding is it's largely a formality. I haven't
Speaker 5: spoken to be Cast to get their view on the
Speaker 5: matter today, but my understanding is it's expected to pass.
Speaker 3: Okay. The whole idea behind the merger basically is to
Speaker 3: finance the rollout of a lot more fiber into more places,
Speaker 3: into township areas, into rural areas. We're seeing Alan lot
Speaker 3: Craig actually in fiber time doing something quite similar. Are
Speaker 3: we going to see a lot more activities in this
Speaker 3: space suddenly?
Speaker 5: I think so. I mean, there seems to be a
Speaker 5: view that that fiber can be delivered profitably into into
Speaker 5: some of the lowest galicim areas. So you know, both
Speaker 5: Uma and five a time now. I've rolled out or
Speaker 5: or rolling out in Alex, the township near Santon here
Speaker 5: in Johannesburg. They've both also been piloting and I think
Speaker 5: competing quite excessively sometimes in kaya Munday, which is the
Speaker 5: township next to Stellenbosch. And they've been experimenting with different models,
Speaker 5: and they seem confident that they can get this down
Speaker 5: profitably to a model where they charge five rand a
Speaker 5: day for prepaid uncapped fiber internet. It's not going to
Speaker 5: be quite the same fibers that you and I have
Speaker 5: in our homes, but it will be uncapped and quite
Speaker 5: usable for streaming services like YouTube, et cetera. So you know,
Speaker 5: you know, so they can get this right, it could
Speaker 5: have a very big impact on South Africa's economy and
Speaker 5: bridging the digital divide and getting the unconnected online. So
Speaker 5: I hope they get it right, and certainly they they're
Speaker 5: making a lot of noise about investing billions. We're talking
Speaker 5: about Masiva and Voom Hotel investing billions around in townships
Speaker 5: and under service areas to get them connected. So let's
Speaker 5: hope that happens.
Speaker 3: It's really interesting because five rand a day isn't a
Speaker 3: huge amount of money. It also means that if you're
Speaker 3: not there, you're not wasting the money, as it were,
Speaker 3: because you're just going day by day, and that can
Speaker 3: be quite important for a lot of people. Actually, if
Speaker 3: you consider the sort of way in which we live
Speaker 3: our lives, it's still you need quite a lot of
Speaker 3: capital to make it all work, because it's going to
Speaker 3: take quite some time before you get that capital back.
Speaker 3: I mean, and I remember when boomers started rolling out.
Speaker 3: I think Parkist and Joe Burg was the first one,
Speaker 3: the first residential area. I mean, it does take a
Speaker 3: while to get your money back under those circumstances.
Speaker 5: It also takes long time as are always infrastructure out
Speaker 5: and you've got to put teams on the ground. You've
Speaker 5: got to protect those teams. There's a lot of crime
Speaker 5: in South Africa. Business forums, we all know about these problems.
Speaker 5: So yeah, this is this is not a you know,
Speaker 5: now that this deal has gone through, it's not going
Speaker 5: to be a case of next month everyone's going to
Speaker 5: have internet across South Africa's townships. This is going to
Speaker 5: take years of pro loot and and multiple multiple operators
Speaker 5: rolling out matter. It isn't there anyone looking at this market.
Speaker 5: There are other ones like frog Foot which is owned
Speaker 5: by Box, Open Serve which is earned by Talcum, and
Speaker 5: others at all interested in making this township model work
Speaker 5: and getting fiber into into into people's homes and providing
Speaker 5: a real un kept alternative to mobile data which is
Speaker 5: very expensive, especially for poorer customers. So yeah, there's there's
Speaker 5: a couple lot of work to do, and it's not
Speaker 5: only going to be massive it's doing it.
Speaker 3: It's also not the only thing that's happening. I mean, yes,
Speaker 3: mobile data is very expensive, and I think we'll probably
Speaker 3: always be more expensive than five that even its price
Speaker 3: is coming down, Starlink is going to face some competition.
Speaker 3: Starlink is in a completely different price category, so you
Speaker 3: wouldn't really use it in this way. What I'm really
Speaker 3: trying to get to though, is that it seems that
Speaker 3: internet access is going to get it closer and closer
Speaker 3: a proper internet access, I mean to being properly universal
Speaker 3: and more and more affordable for a lot more people.
Speaker 3: The next five to ten years, we're going to see
Speaker 3: a real change.
Speaker 5: That's certainly what we've been hearing through this hearing and
Speaker 5: the submissions made by Massive and Vodcon. But that's their intention.
Speaker 5: Let's hope that the word simply promises to the regulator
Speaker 5: and that it actually does translate into real infrastructuring to
Speaker 5: the ground and poor people in South Africa getting connected,
Speaker 5: because we all know that in this day and age,
Speaker 5: having a good internet connection, a good uncapped interconnection is
Speaker 5: basically just a ticket to the game.
Speaker 2: You know.
Speaker 5: If you want kids playing around with AI models and
Speaker 5: learning about large language models and where the world's going,
Speaker 5: they need to use the stuff at home and an uncapped,
Speaker 5: unmuted internet connection is a ticket to the game.
Speaker 3: Dougan McLeod, thank you very much. Indeed, founder an editor
Speaker 3: at tech Central dot co dot z DA. Seventeen minutes
Speaker 3: now after six o'clock.
Speaker 2: The Money Show explainer.
Speaker 3: Well, last night you heard about the launch of the
Speaker 3: Business Leadership South Africa Reform Tracker. It's a dashboard that
Speaker 3: tracks reform across quite a broad range of indsease. Basically,
Speaker 3: it allows you to see how the reform process is
Speaker 3: actually going, where things are working, where they're not working,
Speaker 3: and which areas need a lot more attention. There was
Speaker 3: a Cape Town launch of the event today. I was
Speaker 3: there and I spoke to some of the people who've
Speaker 3: been drawing it up. Doctor Stuart Theobald is the chair
Speaker 3: of KRUTHAM. I asked him how the tracker actually works.
Speaker 6: Step one is that we've selected about two hundred and
Speaker 6: forty reform deliverables, so those are specific objectives that government
Speaker 6: has taken onto its agenda to change the way something works.
Speaker 2: We then engage with each of those.
Speaker 6: Deliverables and look at how far along this gone is
Speaker 6: it on the agenda. Has a proper plan been drawn
Speaker 6: up of how it's going to be implemented and they're
Speaker 6: not their actions that are underway according to that. That
Speaker 6: and the last and most important step is has it
Speaker 6: been effective?
Speaker 2: Does it work?
Speaker 6: Has it achieved its intended goals? So our team of
Speaker 6: analysts dig through all of the announcement speeches and the
Speaker 6: actual experience of South Africans on the ground and whether
Speaker 6: they're seeing the reform making a difference in their daily
Speaker 6: lives and does that assessment across all two hundred and
Speaker 6: forty And that assessment is now available through the tool.
Speaker 6: Users can go onto the website, look at things according
Speaker 6: to themes and different reforms of areas and get a
Speaker 6: quick heat map of things coulored green, orange, red, according
Speaker 6: to whether they're on track, whether they're behind schedule, facing rockages,
Speaker 6: whether there are serious obstacles in the past, and see
Speaker 6: the progress and otherwise it's being made.
Speaker 3: So for example, if I work for an iron company
Speaker 3: about work for COMBA, I can go and see what's
Speaker 3: happening with try net reforms and that will impact whether
Speaker 3: or not I'm going to be able to shift my
Speaker 3: stuff out a scision.
Speaker 6: Absolutely, So you can go on find your way through
Speaker 6: to the logistics areas, Look into that, into what's happening
Speaker 6: on rail plans and reforms connected to that, look at ports,
Speaker 6: all of that's there, and you can see the progress
Speaker 6: that's being made and hopefully a sense that enables you
Speaker 6: to plan with some confidence about whether these reforms are
Speaker 6: really going to come off, when they're going to come off,
Speaker 6: whether there's anything businesses can do to try and accelerate.
Speaker 6: And that's a really important function of the reform tractor
Speaker 6: is that it allows some coordination visibility so that both
Speaker 6: government and business can understand where they can work together
Speaker 6: to intervene to unlock further progress.
Speaker 3: There's some reforms which you mark as making no progress
Speaker 3: or not happening.
Speaker 2: Now.
Speaker 3: My automatic response to that as a journalist is to
Speaker 3: sort of, you know, point my finger in say someone
Speaker 3: isn't doing what they're supposed to do here. I mean,
Speaker 3: is this what this is going to do?
Speaker 2: Well?
Speaker 6: Reform stop for good and bad reasons. There are sometimes
Speaker 6: good reasons where things change, technology changes, prices in markets change,
Speaker 6: and it doesn't make sense anymore to continue in the
Speaker 6: specific reform When you'll remember that we spend an awful
Speaker 6: lot of time in this country forcing new rules for
Speaker 6: how fixed line telephones must be put into rural areas,
Speaker 6: and pretty soon we realized we absolutely do not need
Speaker 6: any more fixed line telephones anyway. So that's example where
Speaker 6: it is appropriate that government says, actually that perform doesn't
Speaker 6: make sense anymore.
Speaker 3: Let's stop it. Let's focus on where we can make
Speaker 3: a difference.
Speaker 7: But of course there are also bad reasons that perform
Speaker 7: stop and that's usually where they hit political opposition, where
Speaker 7: there are entrenched vested interests who block reform, or where
Speaker 7: just people change and momentum gets lost. And the track
Speaker 7: also highlights those to say these are places where there
Speaker 7: are real blockages and something has to be done.
Speaker 3: It's a lot of areas to track. I mean it's
Speaker 3: over two hundred I mean that's an immense job. I
Speaker 3: mean the seesegraphic representation. You can see your radio. You're
Speaker 3: your radio yellow and you're green. But it's still a
Speaker 3: lot of things to keep an eye on.
Speaker 6: So it select reforms that are going to have an
Speaker 6: impact on the business environment. So is it going to
Speaker 6: make a difference to how easy it is to do
Speaker 6: business in South Africa? And actually there's a lot of
Speaker 6: things that affect that.
Speaker 2: Everything from the rule of law.
Speaker 6: The effectiveness of the National Prosecuting Authority, right through to
Speaker 6: electricity and logistics and the form of the company's act
Speaker 6: and all kinds of details that directly affect companies. So
Speaker 6: it does really matter to be broad and say let's
Speaker 6: track all of these things. And it also in that
Speaker 6: way helps I think companies understand what the future environment
Speaker 6: is going to look like because they can start to
Speaker 6: see momentum and where change is going to come from
Speaker 6: and not be tunnel visioned, get a broad picture of
Speaker 6: what's going to affect how they do business.
Speaker 3: Let's doctor Stuart Theerbold, the chair of Krutham that people
Speaker 3: are put together the Reform Tracker for Business Leadership South
Speaker 3: out what up Stephen.
Speaker 2: On seven two seven oh two one seven o two.
Speaker 3: So various messages coming through and some of the issues
Speaker 3: we've been talking about tonight, Tony saying with respect to
Speaker 3: car imports, they should levy a thirty percent VAT on
Speaker 3: the very top end cars Bentley's, Ferraris, Rolls, Royce, et cetera.
Speaker 3: Those are the vehicles purchased you say, by the entrepreneurs.
Speaker 3: SARS will at least recover a small portion of what
Speaker 3: Tony believes are stolen funds. All right, well, thanks for that, Tony.
Speaker 3: I mean, look, I do think there might be something
Speaker 3: some idea in a higher terer for higher end cars.
Speaker 3: I think you might have some sort of other strange
Speaker 3: consequences of that happens. I asked, what was the last
Speaker 3: movie you saw in a cinema? How was the experience?
Speaker 3: Kim saying I saw Don't Let's Go to the Dogs Tonight.
Speaker 3: I think that's the Alexandra Fuller Booker done as a movie,
Speaker 3: and Sinners each a tour de force, says Kim, and
Speaker 3: Denise says Oceans by Sir David Attenborough. The last movie
Speaker 3: scene recently well worth seeing on a big screen. That
Speaker 3: kind of made sense. Actually, there's big sort of nature movies.
Speaker 3: I won't do the Attinburg impression that everyone does, but
Speaker 3: that does sort of make a suggestion as to what
Speaker 3: you could actually go and see at a cinema. I
Speaker 3: what I think I would enjoy the most about going
Speaker 3: to a cinema is that I don't have to let
Speaker 3: the dog out halfway through. I think that for me
Speaker 3: would probably be the best part of it. I noticed
Speaker 3: today there's been another set of stories in a fin
Speaker 3: twenty four about the seaters, the sector education and training authorities,
Speaker 3: and some of the numbers really are utterly insane if
Speaker 3: you think about them. And this was a Carol Peyton
Speaker 3: story and I found it utterly amazing how things have changed.
Speaker 3: So she says, and this is from a research by
Speaker 3: the Bureau of Economic Research, that the total number of
Speaker 3: people employed by the seaters has grown by sixty percent,
Speaker 3: their revenues increased by nearly fifty percent. I mean that's
Speaker 3: a big increase, but their number of certifications per SEITA
Speaker 3: staff member declines. So it took thirty five SEATER members
Speaker 3: to get a certification. Now it's gone to ninety two.
Speaker 3: I mean that's astonishing. I mean, there's got to be
Speaker 3: a better way to actually train and educate people. Surely
Speaker 3: we can get people into business in a more effective
Speaker 3: and more efficient way. It seems that this has become
Speaker 3: more expensive than actually going for a university qualification, and
Speaker 3: we know how expensive that can be. Really is astonishing.
Speaker 3: I look forward to your comments and your thoughts on that.
Speaker 3: I know you'll have one A no double one double
Speaker 3: A three oh seven two and two to one four, four, six, five,
Speaker 3: six seven.
Speaker 2: The Money Show the market.
Speaker 3: The Governor's portfolio manager at Rance was with good evening
Speaker 3: another loss coming out of Sabania that really did push
Speaker 3: the share price down quite dramatically this afternoon.
Speaker 8: Yeah look, I mean, obviously, if you look at these
Speaker 8: these gold stocks, lactem stocks, we've seen a bit of
Speaker 8: a rally on these things for quite some time, you know,
Speaker 8: but unfortunately, you know, you're still got to make the
Speaker 8: stuff do you actually sell it, and that obviously is
Speaker 8: not been a positive thing for some of these guys
Speaker 8: out there. That's what we're seeing, you know, after if
Speaker 8: you look at it, for instance, a year to date,
Speaker 8: the stock prices up almost one hundred and thirty percent
Speaker 8: based on like the quality price increasing. Unfortunately, yet, like
Speaker 8: I said, as you make the core stuff, and that's
Speaker 8: where some of these compans are falling behind.
Speaker 3: The BYTES Technology group, they're having a share buy back
Speaker 3: and that's really pushed their prices up, and obviously there
Speaker 3: seem to be in a strong position to do that.
Speaker 8: Yeah, look, I mean, this is the stock price has
Speaker 8: obviously been under pressure recently, and the fact that we're
Speaker 8: listening a bit of recovery right now is obviously to
Speaker 8: do with that twenty five you know, million pound buy back.
Speaker 8: You would think that considering just the sectates in you know,
Speaker 8: it's in basically the tech sector, which at the moment
Speaker 8: is you know, experiencing a bit of a rally specifically
Speaker 8: related to AI. The fact of the matter is that
Speaker 8: really haven't seen that pushed through for this particular share
Speaker 8: at the moment. I do think that, you know, consu
Speaker 8: just the amount of expending that you'd expect to be
Speaker 8: happening around the air sector over the next few years,
Speaker 8: it should be quite positive for the company, but it's
Speaker 8: basically seen it with taken actually advantage of it.
Speaker 3: Yeah, yeah, Yeah. A couple of things going on in
Speaker 3: the building sectors today. Avenge an update just before trading
Speaker 3: another loss for them, that Jay what's it called the
Speaker 3: j one of eight projects in Singapore they're building stations
Speaker 3: there that seems to keep running into problems.
Speaker 8: Yeah, look, I mean this on of these companies obviously
Speaker 8: have had issues, you know, you know, we actually, of
Speaker 8: course the sector as a whole under critular pressure. But
Speaker 8: I mean I do think that if you had to
Speaker 8: look at you know, some of their options, specially some
Speaker 8: of the Avenus to nashally, it has.
Speaker 2: Not really worked up them.
Speaker 8: I do think that, you know, you have to obviously
Speaker 8: take chances with this, all of these things. Yeah, because
Speaker 8: of the fact that we are seeing you know, issues
Speaker 8: with regards to you know, it was the local market
Speaker 8: being able to describe pressure that it has been under.
Speaker 8: But yeah, I do think that, you know, the moves
Speaker 8: that they've made in to actually really have not works
Speaker 8: out here. And the fact that they're saying that there
Speaker 8: are tourlis, you know, the watch provision being raised is
Speaker 8: obviously a problem that we have to be worried about.
Speaker 3: And then Marion Roberts. Finally they weren't able to get
Speaker 3: a quorum for two shareholders meetings to wind it down
Speaker 3: to take a vote. Eventually, I presume one of the
Speaker 3: creditors was tapped on the shoulder and asked us to
Speaker 3: get a court to wind it down. But I mean,
Speaker 3: it's it's such a big name and finally it's gone.
Speaker 8: Yeah, look, I think I'll move along term you on
Speaker 8: this thing. I think this is one of the real,
Speaker 8: you know failures of the government. Quite frankly, we had
Speaker 8: obviously the walk back after like twenty ten issues are
Speaker 8: on competition and so on, affected the competition sector, but
Speaker 8: in fact the construction sector other But I do think that,
Speaker 8: you know, if you have to think about the country
Speaker 8: as a whole going forward, like you know, a decade,
Speaker 8: ten decades, what we made in the future, we always
Speaker 8: get into construction and if you don't basically protect the sector,
Speaker 8: you're going to have to basically hire some other countries,
Speaker 8: you know, sect to come and basically all.
Speaker 3: The things that you need to be built.
Speaker 8: And the fact of the matter is that once you
Speaker 8: have something like this happening with like Marian robertson the
Speaker 8: constructions sat down, the kind of the issues we've had
Speaker 8: so Africa over the last decade plus, you really are
Speaker 8: not going to be able to recover this with the
Speaker 8: kind of ease to think you would. You know, what's
Speaker 8: the knowledge is God has gone. So I do think
Speaker 8: it's it is a bit of a failure, the fact
Speaker 8: that we are losing a company that's been around over
Speaker 8: one hundred years, you know what I mean. And the
Speaker 8: fact of the matter is that the loss of Lagacity
Speaker 8: is I think a bit of a tragedy for the
Speaker 8: country as a whole.
Speaker 3: We've governed that thanks very much in Deep portfolio manager
Speaker 3: at Rants were springing the time on the Money Show
Speaker 3: to just after six thirty seven two with Stephen.
Speaker 8: Email him on Stephen at seven o two dot co dotz.
Speaker 3: Well plenty to come in the next little while. We'll
Speaker 3: talk about eats. Will also of course the the Friday
Speaker 3: bi bullets. And we've got questions tonight around chip makers
Speaker 3: in the US, around Ecorca, questions also around the electric
Speaker 3: coming to South Africa. Lots of talk about electric cars.
Speaker 3: I don't know if you have a view. I suspect
Speaker 3: that you may have a view about the question of
Speaker 3: whether or not we should increase the tariff that's paid
Speaker 3: to import cars into South Africa. Alisa talking about the
Speaker 3: last time he saw a movie in the cinema, took
Speaker 3: the grandchildren to the Minecraft movie in April. Alista, you're
Speaker 3: a braver person than I. Firstly, firstly, that's two hours
Speaker 3: of my life I shall never get back. I'm sorry, Alistair.
Speaker 3: I can send my condolences, that's all I can offer. Secondly,
Speaker 3: it was seven hundred rand for tickets, lushy and popcorn
Speaker 3: for each each of a pensioner and two kids. Yeah
Speaker 3: it is, I mean that is the issue, isn't it
Speaker 3: That cost mounts up and you suddenly you know in
Speaker 3: for a ton of money and all you've rarely done
Speaker 3: is is kind of fill at the most. Three hours. Now,
Speaker 3: this is a really good movie. I'm trying to think
Speaker 3: of one. I think for a little while, shall I oh?
Speaker 3: Double one A three seven two and two one four, four, six,
Speaker 3: five sixty seven.
Speaker 4: The Lonely Show with Stephen Crutiz Live on ninety two
Speaker 4: point seven and one six FM, streaming on the Prime
Speaker 4: Media Plus.
Speaker 2: NAP and DStv channel eight five six.
Speaker 3: On your next Money Show, absence new and freshly minted
Speaker 3: CEO Kenny Feckler. We'll take you through the company's financial
Speaker 3: results mtns and together resources CEOs. They'll also deliver their
Speaker 3: latest figures. We also catch up with the Minerals Council
Speaker 3: on the Mineral Resources Development Bill. One in every four
Speaker 3: loaves of bread Soald in the country is made in Sasco.
Speaker 3: The GM of that bakery, Cornell from Eulen, will join us.
Speaker 3: So now how I Make My money?
Speaker 4: Feature The Money Show, The Friday File, The Friday File.
Speaker 3: We've been talking a little bit about movies. Tonight when
Speaker 3: we last in a cinema, let me ask you this
Speaker 3: question nowadays, in twenty twenty five, what are you wearing
Speaker 3: when you watch a movie? I'll tell you what I'm
Speaker 3: wearing most of the time when I watch a movie.
Speaker 3: Usually maybe a tracksuit, sometimes my pajamas. I'm usually at home.
Speaker 3: I'm usually on a streaming service. We keep interrupting the
Speaker 3: movie because this dog needs to go up. That one
Speaker 3: needs to go in, the other one needs to go
Speaker 3: and see why the other one's gone out that one.
Speaker 3: That person wants ice cream. I need to check my
Speaker 3: phone to see who that actresses, who looks like the
Speaker 3: person who's in Ferris Buela or something. There is another
Speaker 3: way to watch a movie, a very different way to
Speaker 3: watch a movie. It's called secret Cinema. It's run by
Speaker 3: Secretes Eats as in food. Darren Meltz is the Eats
Speaker 3: events director for South Africa. Darren Good Evening. I would
Speaker 3: not be wearing my tracksuit at one of your events, now,
Speaker 3: would I.
Speaker 9: Good Evening, Stephen, No, most definitely not. So you would
Speaker 9: be wearing something a little more elaborate for one of
Speaker 9: our secret cinemas.
Speaker 3: Okay, so what exactly do you do? What kind of
Speaker 3: vibe are you setting yourself?
Speaker 9: So secret eats is what we call accessible fine dining,
Speaker 9: So it's giving a fine dining experience to those who
Speaker 9: would normally not go for such a thing or feels
Speaker 9: that it's a little bit out of reach. And our
Speaker 9: secret cinema concept now gives you the opportunity to dress
Speaker 9: up within the theme of the film, which we only
Speaker 9: allude to. We don't announce the film because it is
Speaker 9: a blockbuster release beforehand, so that is kept a bit
Speaker 9: of a secret. But if you're savvy enough, you will
Speaker 9: be able to figure out at least the theme or
Speaker 9: possibly what film it is, and then guests will arrive
Speaker 9: and have a curated food or canopain cocktail and wine
Speaker 9: experience ahead of the film, before going into the cinema
Speaker 9: and enjoying a pre release screening of an upcoming blockbuster.
Speaker 3: Do you have a discussion about the movie afterwards? I
Speaker 3: don't mean a formal worthy dissection. I mean do people
Speaker 3: hang around afterwards in their best what's the right phrase
Speaker 3: glad rags and talk a little bit about the movie,
Speaker 3: how good or even better, how terrible it was.
Speaker 9: Yes, they get to do hang around afterwards. There's nothing
Speaker 9: really formal, but we do have a few secrets up
Speaker 9: our sleeves, like we always do for the the end
Speaker 9: of the evening, and sometimes we might have like a
Speaker 9: little sweet sweet treat or a charity raffle or something
Speaker 9: like that, but gets do hang around, have one or
Speaker 9: two more drinks and speak about the film and their
Speaker 9: overall experience.
Speaker 3: You are sitting in a cinema for this, right, You're
Speaker 3: not sitting around a formal sort of table trying to
Speaker 3: crane your neckets trying to crane your neck to get
Speaker 3: a good look.
Speaker 9: That's correct. It is cinema style. So it's a private
Speaker 9: cinema in Santon, and that's also one of our secrets
Speaker 9: is that the location gets revealed the morning of the event.
Speaker 9: But it is definitely cinema style. It seats about only
Speaker 9: forty guests per screening, and you will then receive your
Speaker 9: regular popcorn and cool drink to enjoy as another treat
Speaker 9: whilst you're watching the film.
Speaker 3: It's not a movie if you can't hear the popcorn.
Speaker 3: Do you find that people go in groups? Maybe people
Speaker 3: around a particular theme. If you've sort of hinted at
Speaker 3: what the theme is, that actually it's something you know,
Speaker 3: ten fifteen, maybe twenty people go together.
Speaker 9: That has happened. It's a variety of different bookings that
Speaker 9: we get. So for Secret Cinema, we've had groups of
Speaker 9: about four or six. We do have some brave souls
Speaker 9: that do come on their own and mingle and meet
Speaker 9: some new friends over something great to eat and drink
Speaker 9: and a great movie. So it is quite varied.
Speaker 3: So I mean the idea of dressing up and doing
Speaker 3: it like that, does that sort of automatically change the
Speaker 3: sort of vibe?
Speaker 5: You know?
Speaker 3: It does? I mean dressing up. I'm not a huge
Speaker 3: fan of dressing up myself, but I do realize that
Speaker 3: it adds an element to an event that you just
Speaker 3: don't get unless you do that.
Speaker 9: Yeah, absolutely, it contributes to the whole vibe of the evening.
Speaker 9: As you say, we do say that dressup is strongly encouraged,
Speaker 9: not mandatory, so if you're not feeling too brave, you
Speaker 9: can still come in your finest, smart casual wear. But
Speaker 9: it definitely does. Our initial Secret Eats when we launched
Speaker 9: the concept, we did it for Mission Impossible, so those
Speaker 9: who did dress up came in their spy where their
Speaker 9: cocktail dresses, their tuxedos. So it does give an elevated
Speaker 9: feel to the evening.
Speaker 3: I mean, there's some movies people really will dress up for,
Speaker 3: and I'm thinking automatically of The Rocky Picture Show. I
Speaker 3: mean that some people will dress up for some things
Speaker 3: if you do it right.
Speaker 9: Yes, absolutely, and that is strongly encouraged. Our upcoming film
Speaker 9: is very much in the English countryside sort of aristocratic feel,
Speaker 9: so I'm sure that that already gets the brainsticking as
Speaker 9: to what the film could be. So we're expecting a
Speaker 9: different feel and vibe from what the guests turned out
Speaker 9: on these evenings.
Speaker 3: Getting the movies pre release is that a little tricky?
Speaker 3: You know? Movies often I mean there was a time
Speaker 3: when you know, things will be kept under lock and key.
Speaker 3: They would move around from country to country. Now they
Speaker 3: sort of released everywhere, all at the same time, sometimes
Speaker 3: in cinemas, sometimes streaming literally at the same time. How
Speaker 3: difficult is it to actually get a movie that hasn't
Speaker 3: been on wide release nowadays?
Speaker 9: It is quite difficult. We've luckily managed to strike up
Speaker 9: a specific partnership with one of the licensing companies for
Speaker 9: quite a few of the major releases or movie production HARSS.
Speaker 9: Through that partnership, we've created secret cinema and we partner
Speaker 9: with them, so it's a give and take relationship where
Speaker 9: we say we would like that film, and then they
Speaker 9: go and through their internal processes and then say, yes,
Speaker 9: we can offer this one to you for release, for
Speaker 9: pre release screening.
Speaker 3: I mean, we've had plenty of conversations around the death
Speaker 3: of cinema and you can sort of see it happening,
Speaker 3: and it's really becoming a kind of the speciality thing.
Speaker 3: In a way, events like this kind of help with that, right,
Speaker 3: This is the way cinema might go. It's about the
Speaker 3: value add, the experience, the watching it with like dressed people.
Speaker 9: Yes, most definitely. And it ties in so nicely to
Speaker 9: what a secret eat is all about. It's about the
Speaker 9: emersion and the experience and all of the elements coming
Speaker 9: together to make it such an evening. So watching a film,
Speaker 9: all the films that we will be screening on a
Speaker 9: smaller screen, home, through streaming or just in a regular cinema,
Speaker 9: is not going to give you that same sort of feel. So,
Speaker 9: as you say, it's the experience and the value add
Speaker 9: that really makes it appealing for somebody to come to
Speaker 9: something like a secret cinema.
Speaker 3: How popular has it been Have you seen that? You know,
Speaker 3: I mean, do you run it in seasons? So you
Speaker 3: sort of do it, you know, for a couple of
Speaker 3: weeks in a row, and then sort of wait a
Speaker 3: little bit. I mean that can sometimes be the best
Speaker 3: way to keep interest at a high.
Speaker 9: Yeah, we do it when there is a release that
Speaker 9: we believe is going to garner enough attention. So we
Speaker 9: did our first one as a pilot for Mission Impossible,
Speaker 9: and we only died one screening and it booked. It
Speaker 9: sold out within a couple hours, not even then. We
Speaker 9: decided that we still want to keep it quite, quite niche.
Speaker 9: So for this next one that's coming up, we've only
Speaker 9: got three screenings, so it's forty guests per evening, and
Speaker 9: we do it for that short period and then it's
Speaker 9: literally fastest fingers first, so the bookings. There are still
Speaker 9: quite a few seats remaining for one of our screenings,
Speaker 9: which is an afternoon matinee, which we're doing for the
Speaker 9: first time. But the other screenings I just saw just
Speaker 9: before we jumped onto this call that the one has
Speaker 9: sold out, So we keep it smaller niche, and then
Speaker 9: we move on to the next screening. Because Secret Eyes
Speaker 9: also does have a variety of other concepts and options
Speaker 9: to keep everybody's appetite wet, and then Secret Cinema will
Speaker 9: pop up again when there's another appealing release that we
Speaker 9: can create a magical evening around.
Speaker 3: I mean the food is such a vital part of
Speaker 3: all of this, really, you know, is that sort of
Speaker 3: experience beforehand? I mean that's really where most of your
Speaker 3: focus goes.
Speaker 9: Yes, absolutely, because we're creating that experience. So we had
Speaker 9: Formation Impossible, we had self destruct cannabase, which would literally
Speaker 9: just melt in your mouth. And for this one, it's
Speaker 9: going to be a lavish high te spread, so it
Speaker 9: really does contribute to the experience and then gives you
Speaker 9: a feel for that world before you actually then walk
Speaker 9: in and see it on screen.
Speaker 3: You don't have to hang from the roof. Darren Meltz,
Speaker 3: thanks very much. Indeed, the Secret Eats Events director for
Speaker 3: South Africa.
Speaker 2: Stephen taking your calls on one one eight, three.
Speaker 3: Seven two, All right, time for the Friday BIS Blitz
Speaker 3: tonight on the Money Show. You know the number. You
Speaker 3: know how this works. You call us. I've put a
Speaker 3: question to you. If you get the answer correct, we
Speaker 3: move on to the next question. If you get it wrong,
Speaker 3: we move on to the next call out. Oh double
Speaker 3: one double a three seven two two one four four six,
Speaker 3: five six seven questions tonight around electric ours, around chip
Speaker 3: makers in the US. But your first question tonight on
Speaker 3: the Friday bis Blitz, Which JS listed bank is buying
Speaker 3: the fintech company Ecorca for one point six five billion?
Speaker 2: Round?
Speaker 3: Which JC listed bank is buying the company Ecorca for
Speaker 3: a whopping one point sixty five billion? Round Oh double
Speaker 3: one double A three oh seven, oh two O two
Speaker 3: one four four six, five six seven The Money Show,
Speaker 3: Friday b Blitz. You know the number oh double one
Speaker 3: double a three oh seven, oh two O two one
Speaker 3: four four six oh five sixty seven. Which JC listed
Speaker 3: bank is buying the fintech company Ecorca for one point
Speaker 3: sixty five billion. Round L in Centurion, you were the
Speaker 3: first caller.
Speaker 5: Good morning, good evening, Hello Stephen, it's ned Bank.
Speaker 3: It is ned Bank, L congratulations, and they're buying one
Speaker 3: hundred percent of Ecorca in an all cash deal. Okay,
Speaker 3: time for the second question tonight, AMD and which other
Speaker 3: chip maker are required to pay fifteen percent of their
Speaker 3: sales revenue to the US government when they sell specific
Speaker 3: artificial intelligence chips in China. The one company is a MD,
Speaker 3: which is the other that has to pay the special
Speaker 3: fifteen percent tax to the US government.
Speaker 5: Steve and I haven't got a clue. I haven't got
Speaker 5: a clue.
Speaker 3: All right, thanks, hell, let's try Porsche, Porsche hide, do
Speaker 3: you know the answers? Let thanks Steven, Sorry, Porsche. Yes,
Speaker 3: we moved on to the next question. I'll give you
Speaker 3: the next question. So it's okay, okay, it's no problem. So,
Speaker 3: so two big American microchip makers have to pay attacks
Speaker 3: of fifteen percent on their sales to China for specific
Speaker 3: AI chips. One of the companies is a MD, which
Speaker 3: is the other company.
Speaker 8: Oh, I don't know that one.
Speaker 3: You're going to kick yourself. We talk about it on
Speaker 3: the Money Show all the time. Sorry, Porsche, Alex in
Speaker 3: North Riding Alex even answer you, yeah, go for it.
Speaker 3: It's Intel. It's not Intel, Alex. I'm sorry, Saki, do
Speaker 3: you know the answer? Please put us out of our misery.
Speaker 3: Nvidia it's in video, Yes, okay, it is in video.
Speaker 3: So it's in video. And a m D. All right.
Speaker 3: Third question, which global car maker wants to enter our
Speaker 3: fully electric vehicle market. They're going to sell three electric
Speaker 3: cars here in South Africa in early next year. Which
Speaker 3: global car maker wants to do that? Zaki? Yeah, it's
Speaker 3: a massive, massive car maker. Oh, Saki, beyond yonder, it's
Speaker 3: not beyond. I'm afraid, Zaki. Sorry, Zaki, Okay, let's try
Speaker 3: DZ diz high. Do you know which carmaker is going
Speaker 3: to sell three cars here?
Speaker 9: That's d but I don't know that, and I think
Speaker 9: a wild gets at THEOT.
Speaker 3: He has a history, actually is okay? Yes? All right,
Speaker 3: Now to a j C trading code. S b K
Speaker 3: is the j C trading code of which bank? S
Speaker 3: b k.
Speaker 9: Uh, it's geeky s b K.
Speaker 3: It's the trading code of which bank?
Speaker 2: Yeah, Sinnate Bank Center Bank.
Speaker 10: Congratulations you're a winner. Yes, good evening, thank you.
Speaker 3: Congratulations you're winner of the Friday Biz Blitz. Thanks for
Speaker 3: playing really do appreciate appreciate it. Good evening with the
Speaker 3: Money Show. It's seven o'clock