WEBVTT - Eskom eases rooftop solar rules; Cape Town buses serve gourmet meals on the move 0:00:00.560 --> 0:00:03.720 The Money Show on seven oh two, Let's Walk. 0:00:03.520 --> 0:00:06.600 To Talk on ninety two point seven or one O 0:00:06.720 --> 0:00:10.320 six at them and DStv channel eight five six. 0:00:13.760 --> 0:00:16.079 The Money Show with Stephen Curtiz is brought to you 0:00:16.160 --> 0:00:20.400 by ABSUR CIB, proud sponsor of the UBSIR Africa Financial 0:00:20.400 --> 0:00:25.079 Markets Index twenty twenty five. And I'm starting tonight's show 0:00:25.320 --> 0:00:27.400 with the good news. Firstly, I'm Jane Uttonhallo. I'm in 0:00:27.440 --> 0:00:29.880 for Steven. South Africa's off the gray List, the global 0:00:29.960 --> 0:00:33.000 Naughty Corner for countries that don't do enough to stop 0:00:33.040 --> 0:00:37.960 money laundering and terror financing. It's about money credibility, whether 0:00:38.000 --> 0:00:41.879 the world still trusts US to play fair in global finance. 0:00:42.200 --> 0:00:45.720 After nearly two years under extra scrutiny, the Financial Action 0:00:45.840 --> 0:00:49.519 Task Force has wrapped up its meetings in Paris and 0:00:49.600 --> 0:00:52.800 South Africa's being given the all clear. We'll unpack what 0:00:52.800 --> 0:00:56.080 this means for your money and the country's investment future. 0:00:56.520 --> 0:00:59.840 Then a small but powerful shift from ESCAM. The utility 0:00:59.880 --> 0:01:04.280 is quietly dropped its costly rooftop solar sign off rule 0:01:04.400 --> 0:01:08.720 for homeowners. What does that mean for energy independence and 0:01:08.880 --> 0:01:11.759 your pocket After the markets, I'm going to be profiling 0:01:11.840 --> 0:01:15.680 Jonathan Ferree, the man behind bus Cuisine, Cape Town's new 0:01:16.040 --> 0:01:20.240 luxury dining experience on wheels, where fine food, meats, city 0:01:20.319 --> 0:01:23.840 lights and rolling views. It's all about money power and 0:01:23.920 --> 0:01:26.319 something to wet your appetite right here on seven oh two. 0:01:26.360 --> 0:01:28.480 Please give us a call w hear your thoughts on 0:01:28.520 --> 0:01:30.440 any of these topics. Oh one one double A three 0:01:30.440 --> 0:01:33.040 oh seven oh two. You could speak our guests as well. 0:01:33.080 --> 0:01:35.680 You could tweet or x us on at radio seven 0:01:35.720 --> 0:01:38.119 o two or send us a WhatsApp on seven two 0:01:38.600 --> 0:01:41.000 seven o two one seven two and I'm also on 0:01:41.240 --> 0:01:43.920 at Jane Dutton The Money. 0:01:43.600 --> 0:01:49.200 Show on seven OS Monday to Friday six to eight pm. 0:01:50.080 --> 0:01:53.560 So South Africa is off the Financial Action Task Force 0:01:53.720 --> 0:01:56.960 gray list. For two years, we've been under the microscope. 0:01:57.000 --> 0:02:02.440 Its dented confidence and investment has been accused of weak enforcement, 0:02:02.520 --> 0:02:07.360 dodgy compliance and political interference. Now the FATF says we 0:02:07.480 --> 0:02:09.840 have cleaned up our act. 0:02:10.120 --> 0:02:10.720 Joining me is. 0:02:10.760 --> 0:02:15.359 National Treasuries Ismael Momoniat and Rebecca Thompson, Partner and head 0:02:15.360 --> 0:02:19.200 of Investigations, Compliance and Ethics from Baker McKenzie, to discuss 0:02:19.240 --> 0:02:22.400 what this move actually changes, what it actually means for 0:02:22.560 --> 0:02:25.200 you and me is well, let me start off with you. 0:02:25.200 --> 0:02:27.440 You put a lot of work into this. What is 0:02:27.480 --> 0:02:28.079 your response? 0:02:29.720 --> 0:02:35.160 No, Look, clearly, south Etika. After state capture, you know, 0:02:35.560 --> 0:02:40.400 our institutions were weakened and we were gray listed. And 0:02:40.480 --> 0:02:43.040 let me say it to put the ironically of Baker McKenzie, 0:02:43.360 --> 0:02:48.520 because they were one of the companies that were directly 0:02:48.520 --> 0:02:53.639 involved with weakening institutions like Stars. But because of all 0:02:53.680 --> 0:02:56.959 of that, we were great listed. Quart of has found 0:02:57.120 --> 0:03:01.720 is that we've now managed if we begin to tackle 0:03:02.200 --> 0:03:08.000 financial grunts, and I would take companies like Bacon mckenzy 0:03:08.080 --> 0:03:12.160 or so accountable for what happened during state capture. But 0:03:12.280 --> 0:03:15.440 going forward, and that may be clear, it doesn't mean 0:03:15.480 --> 0:03:18.920 we've solve all our problems. All it means is that 0:03:19.000 --> 0:03:22.760 we've begun to deal with our problems and we're going 0:03:22.840 --> 0:03:26.680 to have to continue to strengthen our institutions so that 0:03:26.800 --> 0:03:30.040 when the next mutual evaluation comes, which will be over 0:03:30.040 --> 0:03:32.520 the next two years, that we will not be gray 0:03:32.600 --> 0:03:37.040 listed again. I mean this must be the point is 0:03:37.080 --> 0:03:39.640 that Jane, we must do this for our country, not 0:03:39.680 --> 0:03:43.440 for fat up, to make sure that we can rid 0:03:43.520 --> 0:03:47.720 our country of corruption, maximize delivery to our people and 0:03:47.800 --> 0:03:50.720 get economic growth, investment and economic growth up. 0:03:51.960 --> 0:03:55.320 I mean from a reputational damage point of view, how 0:03:55.400 --> 0:03:58.040 bad has this been for us and how quickly can 0:03:58.080 --> 0:03:59.160 we get back on track. 0:04:00.880 --> 0:04:04.480 Well, look, it's obviously been really bad for us from 0:04:04.480 --> 0:04:08.080 a reputational perspective. It's been quite humiliating for the country, 0:04:08.800 --> 0:04:14.680 and you know we've had to slog for over three 0:04:14.760 --> 0:04:17.320 years now to make sure that we deal with the 0:04:17.440 --> 0:04:18.720 concerns that. 0:04:21.279 --> 0:04:25.279 All right, we seem to have lost him for the moment. 0:04:25.320 --> 0:04:28.080 We'll try and bring him back up. But on the 0:04:28.120 --> 0:04:31.080 line as well as Rebecca Thompson and Rebecca, I don't 0:04:31.080 --> 0:04:33.400 know if you were listening to him, but he was 0:04:34.400 --> 0:04:38.440 accusing your company of being one of the players that 0:04:38.600 --> 0:04:42.839 has brought some reputational damage onto the country and it 0:04:42.839 --> 0:04:43.880 should be held accountable. 0:04:43.920 --> 0:04:44.800 What's your response to that? 0:04:46.920 --> 0:04:49.520 So I wouldn't call onto this show to be a 0:04:49.560 --> 0:04:53.560 spokesperson for my firm. Quite frankly, I'm not sure what 0:04:53.760 --> 0:04:59.480 mister Monmonet is on about. We certainly haven't been accused 0:04:59.560 --> 0:05:04.080 of any thing, nor have we been hauled in front 0:05:04.080 --> 0:05:08.360 of inquiries such as the Step Capture Commission. We've certainly 0:05:08.440 --> 0:05:12.960 acted for clients in a whole range of matters. But 0:05:13.960 --> 0:05:16.640 perhaps mis Deemmonias and I can have a separate conversation 0:05:16.720 --> 0:05:19.839 on that. I honestly I'm not sure what he's on about. 0:05:21.279 --> 0:05:23.920 Be that as it may. I'm here to speak about 0:05:24.120 --> 0:05:26.760 South Africa's exits from the gray List. 0:05:27.279 --> 0:05:30.799 All right. So, I mean, we talk about headline reforms, 0:05:30.920 --> 0:05:34.120 the legislation, pasted, frameworks upgraded, But how do we know 0:05:34.200 --> 0:05:37.760 that these aren't just box ticking? Where's the evidence of this? 0:05:39.640 --> 0:05:42.560 So the fact that the fat F has removed us 0:05:42.560 --> 0:05:45.440 from the gray list in itself is evidence that they 0:05:45.520 --> 0:05:49.840 are satisfied that we've produced sufficient evidence to be removed 0:05:49.880 --> 0:05:52.839 from the graylest. But you must also bear in mind 0:05:53.040 --> 0:05:56.920 that it's not simply a matter of saying, okay, you're 0:05:56.920 --> 0:05:59.000 off the gray list, now go on your merry way 0:06:00.120 --> 0:06:04.080 to the delisting. South Africa will transition from increased monitoring 0:06:04.600 --> 0:06:07.840 to regular follow up, a regular follow up process under 0:06:07.880 --> 0:06:12.440 the fastest mutual evaluation cycle. So we will be required 0:06:12.480 --> 0:06:16.240 to submit periodic follow up reports to the fact if 0:06:16.400 --> 0:06:21.000 we will have to continue to demonstrate sustained reforms in 0:06:21.200 --> 0:06:25.279 m O and CFT, which is counter financing of terrorists, 0:06:26.040 --> 0:06:31.680 terrorism compliance and continued enforcement of laws, investigations and prosecutions. 0:06:33.120 --> 0:06:35.360 So how hard is that going to be? I mean, 0:06:35.360 --> 0:06:36.480 we've just been hearing. 0:06:36.200 --> 0:06:38.720 Over the last couple of weeks how corrupted we are 0:06:38.760 --> 0:06:44.000 in so many areas pers judiciary, finance, I mean, you 0:06:44.080 --> 0:06:46.279 name it. How hard is it going to be to 0:06:46.320 --> 0:06:47.000 stay off the list? 0:06:48.800 --> 0:06:51.480 So I think if there's a sustained effort, and I'm 0:06:51.600 --> 0:06:54.640 very mindful, I mean, I'm an eternal optimist when it 0:06:54.640 --> 0:06:57.799 comes to this country. I'm very mindful of the fact 0:06:57.839 --> 0:07:00.840 that everything that we hear in the news is typically 0:07:00.880 --> 0:07:06.159 bad news, so we continuously bombarded with the bad side 0:07:06.160 --> 0:07:08.800 of the story, whereas there is in fact a lot 0:07:08.839 --> 0:07:12.640 of good work being done, both in state institutions and 0:07:12.720 --> 0:07:17.480 in the private sector to keep South Africa afloat, to 0:07:17.600 --> 0:07:22.480 improve our image in the marketplace and to attract foreign 0:07:22.560 --> 0:07:23.320 direct investment. 0:07:23.760 --> 0:07:25.120 So it's not a simple task. 0:07:27.080 --> 0:07:34.680 Corruption is rife. I've just started reading the book The 0:07:34.760 --> 0:07:40.920 Beta Decran's Murder, which is quite quite enlightening, especially you know, 0:07:41.120 --> 0:07:44.680 listening to the commission into the police at the moment 0:07:44.760 --> 0:07:49.440 as well. So corruptions obviously rife, issues like money laundering 0:07:49.680 --> 0:07:54.960 continue to plague this country, but with sufficient will, which 0:07:55.240 --> 0:07:58.320 is required in both the public and private sectors. I 0:07:58.320 --> 0:08:00.160 think we can get there. I think we can what 0:08:00.240 --> 0:08:02.440 we've already gotten there. I think we can continue to 0:08:02.520 --> 0:08:05.280 keep ourselves off the gray list as long as that. 0:08:06.560 --> 0:08:10.160 I think if the will to do good and to 0:08:10.320 --> 0:08:16.640 attract for our indirect investment outweighs those individuals who seek 0:08:16.680 --> 0:08:20.160 only to enrich themselves, then I think we can stay there. 0:08:20.200 --> 0:08:23.920 Okay, Rebecca Thompson, partner and head of Investigations, Compliance and 0:08:23.960 --> 0:08:26.920 Ethics from Baker McKenzie, thank you for that. We've got 0:08:27.000 --> 0:08:30.320 Ismael Momaniette back on the line, Rebecca says she has 0:08:30.360 --> 0:08:33.080 absolutely no idea what you're talking about, but has suggested 0:08:33.120 --> 0:08:35.800 that the two of you have a conversation off air 0:08:36.000 --> 0:08:39.760 and iron out the allegations that you threw at them. 0:08:39.960 --> 0:08:42.280 Let me just ask you, what does this mean for 0:08:42.400 --> 0:08:43.400 you and for me? 0:08:43.559 --> 0:08:48.040 What doesn't mean ignorant? She should read the Newton Commission's report, 0:08:48.800 --> 0:08:53.040 all the so called Baker McKenzie investigations that were done 0:08:53.120 --> 0:08:57.079 by paying and none of those reports have been made public. 0:08:57.760 --> 0:08:58.760 And frankly, there were. 0:08:58.679 --> 0:09:02.760 Some investigations and this is just an issue. 0:09:02.440 --> 0:09:06.400 When you're dealing with greatesty we've had to regulate legal 0:09:06.400 --> 0:09:11.599 firms as well, and they must not use prime confidentiality 0:09:12.120 --> 0:09:16.960 to cover up, for example, the capture of stars. Yeah, 0:09:17.640 --> 0:09:21.000 they disclose fully and that's why I'm just finding it 0:09:21.120 --> 0:09:25.840 ironic that companies like this are legitimized and have never 0:09:25.960 --> 0:09:30.440 come to the party to confess their full role in 0:09:30.480 --> 0:09:34.160 the capture of Stars, in protecting the cricket companies like 0:09:34.240 --> 0:09:38.280 Braine that captures starts, I feel very strongly about it. 0:09:41.160 --> 0:09:45.920 All Right, we've lost Ismael again and hopefully we'll be 0:09:45.960 --> 0:09:48.400 able to get him back because it'll be good to 0:09:48.440 --> 0:09:50.600 get a little bit more details about what does actually 0:09:50.679 --> 0:09:55.080 means for you and for me. I mean, what impact 0:09:55.120 --> 0:09:59.199 will it have on interest rates, on foreign direct investment, 0:10:00.080 --> 0:10:03.520 the cost of borrowing? But you know, according to the FATF, 0:10:04.080 --> 0:10:07.000 the good news is that we seem to have ticked 0:10:07.000 --> 0:10:10.120 all the boxes the requirements that were needed of us, 0:10:10.520 --> 0:10:12.480 and we've got to really clean up our act. It's 0:10:12.520 --> 0:10:15.440 going to be hard not to slide back off again 0:10:16.280 --> 0:10:21.280 because of the staggering number of players who are out 0:10:21.320 --> 0:10:22.520 there for their. 0:10:22.320 --> 0:10:25.400 Own good and not for the good of the country. 0:10:25.840 --> 0:10:27.800 And it'll be interesting to know as well when a 0:10:27.880 --> 0:10:31.640 country is gray listed what exactly happens behind the scenes 0:10:32.080 --> 0:10:37.439 two ordinary investors to businesses and financial institutions here in 0:10:37.640 --> 0:10:38.160 South Africa. 0:10:38.240 --> 0:10:39.880 Isma, we've got you back again. 0:10:40.480 --> 0:10:42.720 I just want to find out from you what this 0:10:42.800 --> 0:10:44.400 is going to mean for the man and the woman 0:10:44.440 --> 0:10:47.040 on the street has How are we going to be 0:10:47.200 --> 0:10:48.640 positively affected? 0:10:52.520 --> 0:10:52.679 Now? 0:10:53.040 --> 0:10:58.080 See all right, Ismael, We're going to leave it there. 0:10:58.120 --> 0:11:03.720 That's National Treasuries Ismael Momo Niat talking about South Africa 0:11:03.960 --> 0:11:06.080 being removed off the gray list. 0:11:06.120 --> 0:11:08.640 That happened in about an hour and a half's time. 0:11:09.360 --> 0:11:12.000 The Money Show explainer. 0:11:14.760 --> 0:11:14.920 Right. 0:11:14.960 --> 0:11:19.000 So, ESCAM has made it easier for homeowners to power 0:11:19.120 --> 0:11:23.520 up their own sunshine. The utility has scrapped the costly 0:11:23.640 --> 0:11:27.640 sign off requirement for rooftop solar systems, a move that 0:11:27.840 --> 0:11:31.680 will could speed up installations. It could cut red tape 0:11:31.960 --> 0:11:35.199 and give South Africans more control over their energy. It's 0:11:35.240 --> 0:11:38.800 a small step with big potential both for the grid 0:11:39.240 --> 0:11:42.880 and for your wallet. Let's bring on Kevin Play, general 0:11:42.920 --> 0:11:46.960 manager in Distribution at ESKHAM. A very good evening to you. 0:11:48.080 --> 0:11:52.160 What has ESCAMB changed? Why this exactly? How big a 0:11:52.200 --> 0:11:54.920 deal is it for the homeowner? 0:11:57.400 --> 0:12:02.920 Good evening, Jane Good evening to the listeners, thank you. So, 0:12:02.960 --> 0:12:09.880 in essence, ESCAM has relaxed the registration requirements to a 0:12:09.920 --> 0:12:15.920 certain degree, and that is on the back of wider 0:12:16.000 --> 0:12:22.960 industry consultation and a few tweaks we put into the 0:12:23.000 --> 0:12:28.280 final process. So we previously add what was perceived as 0:12:28.320 --> 0:12:35.240 an onerous registration requirement, and we we had that in 0:12:35.240 --> 0:12:40.800 place for many reasons, and we then sort of compartmentalized 0:12:40.920 --> 0:12:46.800 the requirement to a less onerous requirement, specifically for residential installations. 0:12:47.080 --> 0:12:50.000 I mean, this sign us rule cost tharsand and slowed 0:12:50.000 --> 0:12:52.160 installations as you were saying for mats. Why did it 0:12:52.160 --> 0:12:54.240 take ESCAM this long though to drop it? 0:12:56.400 --> 0:13:03.720 I think, firstly, ESCHIM is a utility, isn't unilateral decision 0:13:03.760 --> 0:13:09.320 making abilities. We are bound to ensure that we are 0:13:09.440 --> 0:13:14.240 very clear in terms of adherence to regulations, to legislation, 0:13:14.440 --> 0:13:21.559 et cetera. So there were several regulations and legislation requirements 0:13:21.600 --> 0:13:27.040 that we're guiding our requirement one two that noted that 0:13:27.120 --> 0:13:31.959 a lot of these were compiled or came into being 0:13:32.160 --> 0:13:36.160 in during sort of the first generation of inverters that 0:13:36.320 --> 0:13:40.000 entered into South Africa, and those were legacy systems. So 0:13:40.040 --> 0:13:44.040 there were a lot of safety requirements in built on 0:13:45.040 --> 0:13:49.720 the registration requirements, and now that we have a better 0:13:49.760 --> 0:13:54.720 presence of more modern inverters et cetera, we then sought 0:13:54.760 --> 0:13:56.840 to put in a few control points in terms of 0:13:56.960 --> 0:14:00.599 type TIS certificates, et cetera. So should they invert and 0:14:00.720 --> 0:14:07.040 meet the requirement, then you enjoy this now less onerous 0:14:07.040 --> 0:14:11.559 option to have your installation signed off now by an 0:14:11.640 --> 0:14:17.440 accredited either master electrician or installation electrician registered with the 0:14:17.480 --> 0:14:18.560 Department of Labor. 0:14:19.520 --> 0:14:22.120 Here are thousands of people saying, who are finally, is 0:14:22.120 --> 0:14:25.040 it also okay? Said ESCOM realizes that it just can't 0:14:25.080 --> 0:14:27.200 police rooftop sellar anymore. 0:14:29.320 --> 0:14:33.320 I don't think that was ever our intent. I think 0:14:33.360 --> 0:14:39.040 maybe what we should note is that any home owner, 0:14:39.560 --> 0:14:46.920 any installation is free or has the liberty to install 0:14:47.520 --> 0:14:51.320 whatever system they want at their premises and they are 0:14:51.760 --> 0:14:55.040 duty bound in terms of the regulations of South Africa 0:14:55.040 --> 0:14:59.360 to ensure that that system is safe for the house, 0:15:00.120 --> 0:15:04.800 so that certificate of compliance, etc. And ESKIM never intended 0:15:04.840 --> 0:15:08.920 to encoach on that liberty that's available to the own 0:15:09.000 --> 0:15:13.880 owner or premise owner. However, when a system seeks to 0:15:14.120 --> 0:15:17.680 enter the grid, we are duty bound to ensure that 0:15:17.720 --> 0:15:22.560 it doesn't impose risk to the grid or any other participant. 0:15:22.240 --> 0:15:22.880 On the grid. 0:15:23.360 --> 0:15:27.440 That means your neighbor or a worker on the system, etc. 0:15:28.240 --> 0:15:31.920 And we needed to ensure that we play out that 0:15:32.120 --> 0:15:36.200 requirement and not just whittle it down to just a 0:15:36.280 --> 0:15:40.200 basic requirement for a single installation not connected to a grid. 0:15:40.280 --> 0:15:44.320 So we have been as responsible as we can be 0:15:44.360 --> 0:15:47.600 to protect a larger community. 0:15:47.040 --> 0:15:47.640 And the grid. 0:15:48.720 --> 0:15:51.320 Now, I mean, we know that ESKAM has lost millions 0:15:51.440 --> 0:15:55.280 in potential revenue from people going solar. How will it 0:15:55.360 --> 0:15:59.080 manage that? I should imagine growing financial. 0:15:58.600 --> 0:16:06.440 Gap looks so so I think it's and this is 0:16:06.680 --> 0:16:09.400 a much contested question, but the long and short is 0:16:09.440 --> 0:16:14.080 that the the cost to serve the residential sector has 0:16:14.160 --> 0:16:18.960 always there's always been some sort of imbalance between what 0:16:19.040 --> 0:16:24.040 it costs to serve versus the terriff et cetera. Albeit, 0:16:24.080 --> 0:16:27.120 it that the price of electricity is going up, but 0:16:27.160 --> 0:16:30.200 I mean the cost of providing that service is also 0:16:30.800 --> 0:16:36.440 going up. So in terms of the the the way 0:16:36.480 --> 0:16:38.960 we are looking at the revenue side, none of our 0:16:39.360 --> 0:16:47.200 rules or registration requirements, et cetera, looking at two or 0:16:47.240 --> 0:16:49.760 in place to close the gap. From a revenue perspective, 0:16:49.800 --> 0:16:52.680 that's never the reason. What we are doing is we 0:16:52.720 --> 0:16:58.160 are rather positioning the grid as an open grid to 0:16:58.320 --> 0:17:00.920 anyone that wants to enter the whether it is an 0:17:00.920 --> 0:17:05.160 ipp that can utilize the grid to move energy from 0:17:05.240 --> 0:17:09.679 A to B or even a homeowner worth an insulation 0:17:10.400 --> 0:17:13.400 that can put in excess units onto the grid. They 0:17:13.560 --> 0:17:16.879 to have access to the grid to move that energy 0:17:16.920 --> 0:17:21.080 to other offtakers, and we are working towards reimbursing. 0:17:20.400 --> 0:17:21.280 Them for that. 0:17:21.359 --> 0:17:24.720 So what it means is that we separate energy and 0:17:24.920 --> 0:17:30.160 energy costs from costs associated with utilizing the grid. So therefore, 0:17:30.560 --> 0:17:33.760 if you are earning a return on the energy that 0:17:33.800 --> 0:17:36.480 you're putting on the grid, you then need to pay 0:17:36.520 --> 0:17:39.840 that fee to utilize the grid to enjoy that benefit. 0:17:40.240 --> 0:17:44.200 So in our grand strategy, we are repositioning the grid 0:17:44.920 --> 0:17:49.760 to provide grid services and allow more players, including households, to. 0:17:50.680 --> 0:17:52.560 Have this ability hower back into the grid. 0:17:52.640 --> 0:17:52.800 Right. 0:17:52.960 --> 0:17:53.399 Is that. 0:17:55.760 --> 0:17:58.640 So just confirming that a homeowner is already running on solo, 0:17:58.680 --> 0:18:01.520 they don't need to reapply rec We can just carry 0:18:01.560 --> 0:18:03.000 on as before. 0:18:04.520 --> 0:18:09.040 No, so there's no duty upon the homeowner. So first 0:18:09.080 --> 0:18:13.280 thing you've got to ensure that you get a valid 0:18:13.320 --> 0:18:18.680 certificate of compliance for your installation, which includes your threat 0:18:18.760 --> 0:18:22.040 supply to your house, the dB and the wiring to 0:18:22.119 --> 0:18:26.160 the rest of the house, and the embedded generation which 0:18:26.200 --> 0:18:30.600 is your PV system, all encompassed in the certificate of compliance. Now, 0:18:30.600 --> 0:18:34.560 who does this for you? We've relaxed that. Previously we 0:18:36.920 --> 0:18:42.880 enforced a professionally registered engineer with EXA. Now that we've 0:18:42.920 --> 0:18:45.840 built in the control point to say, okay, if you 0:18:45.920 --> 0:18:50.840 can get an installation electrician or a master electrician which 0:18:50.840 --> 0:18:55.040 should come with lower fees, registered with the Department of Labor, 0:18:55.640 --> 0:19:01.640 that can give a typefit certificate and meet the EGI 0:19:01.880 --> 0:19:05.800 installation tests report, then that would be admissible in terms. 0:19:05.520 --> 0:19:07.920 Of thank you for your time. 0:19:08.000 --> 0:19:10.800 Kevin Play, General Manager and Distribution at ESCAM. 0:19:11.560 --> 0:19:13.480 The money show the market. 0:19:15.240 --> 0:19:19.879 Let's talk to Cio Benguela Global fund managers Zuelake and 0:19:20.000 --> 0:19:23.719 Goni and quite a day, right, I mean, how wonderful 0:19:23.760 --> 0:19:26.600 to start the weekend knowing that we off the gray list. 0:19:26.640 --> 0:19:30.359 It seems that the rand is holding relatively steady. Do 0:19:30.359 --> 0:19:33.280 you think this was already priced in such a risk. 0:19:35.000 --> 0:19:38.440 Belie In Jane and your listeners, certainly, I don't think 0:19:38.480 --> 0:19:42.280 it was fully fasting. I don't think the full benefits 0:19:42.280 --> 0:19:45.119 have come through. I think, as you know, that the 0:19:45.160 --> 0:19:50.399 gray listing does impact the county quite significantly, particularly in 0:19:50.440 --> 0:19:53.360 the banking sector where you have high compliance costs and 0:19:53.400 --> 0:19:56.600 you're also having delays in cross border transaction. But I 0:19:56.680 --> 0:20:00.160 think that the government level, you're also seen that the 0:20:00.200 --> 0:20:05.000 cost of funding becomes higher and your FDI investment becomes 0:20:05.359 --> 0:20:08.800 quite hindous. So this would basically mean that some of 0:20:08.840 --> 0:20:12.320 those impediments to be taken away and we should see 0:20:12.600 --> 0:20:16.080 a slight improvement in the economic performance. And I think 0:20:16.160 --> 0:20:18.439 if one looks at the precedents from other countries like 0:20:18.480 --> 0:20:22.280 the Philippines Takey, there was a meaningful improvement in the 0:20:22.280 --> 0:20:27.600 economy performance post the change. So I think there may 0:20:27.640 --> 0:20:31.119 be positive surprises both in terms of the course of 0:20:31.160 --> 0:20:35.359 capital to the government and the country, but also there 0:20:35.400 --> 0:20:36.960 may be people who are willing to invest in the 0:20:36.960 --> 0:20:37.920 countries as a result of this. 0:20:38.400 --> 0:20:41.600 Okay, okay, that's uh, that is very needed. 0:20:41.640 --> 0:20:45.159 Absolutely, And let's talk about the roller coaster week for 0:20:45.320 --> 0:20:46.760 Gold and the outlook there. 0:20:47.760 --> 0:20:48.000 Yeah. 0:20:48.400 --> 0:20:50.880 I think, I mean we've seen that the goal process 0:20:50.920 --> 0:20:55.120 put back quite shappy and significantly as well. So so, 0:20:55.400 --> 0:20:59.080 and we are seeing that leading into our markets in 0:20:59.240 --> 0:21:04.520 the gold stock and the big question now becomes from 0:21:04.560 --> 0:21:08.280 where we are, is gold going to at least hold 0:21:08.359 --> 0:21:10.960 up about four thousand or are we going to see 0:21:11.040 --> 0:21:15.720 the continue to radio or break down. So the effectation 0:21:15.880 --> 0:21:17.880 is that it would hold up. I mean, we've seen 0:21:17.920 --> 0:21:20.840 some of the big bodcus. Some are calling for four 0:21:20.880 --> 0:21:23.680 thousand and hundred by the end of the year. We 0:21:24.119 --> 0:21:32.200 think that the key drivers this whole tariff battle battles 0:21:32.560 --> 0:21:36.919 do affect the confidence of markets and in terms of 0:21:36.960 --> 0:21:39.439 the auto for the economy. But you also have in 0:21:39.480 --> 0:21:43.680 central banks that are buying gold instead of the dollar 0:21:43.680 --> 0:21:45.879 in US treasury. So that is the fact that that 0:21:46.000 --> 0:21:49.280 would affect those two factors that affect the long term 0:21:49.280 --> 0:21:51.520 aug But in the short term we might see a 0:21:51.520 --> 0:21:54.280 bit of volatility, but I think long term we might 0:21:54.320 --> 0:21:59.000 see continued momentum. But the goost stocks are actually under 0:21:59.160 --> 0:22:01.480 quite a bit of pressure because the market has seemed 0:22:01.520 --> 0:22:04.440 quite a big really and they thinking that it's time 0:22:04.480 --> 0:22:05.359 to take profits. 0:22:05.440 --> 0:22:07.439 Okay, so I like it, and Gourney, thank you for 0:22:07.480 --> 0:22:09.160 your time for the money show. 0:22:09.359 --> 0:22:10.640 The Friday File, the. 0:22:10.680 --> 0:22:11.760 Friday File. 0:22:13.280 --> 0:22:15.919 Well, and then the Friday file with me Jane Dutton 0:22:15.960 --> 0:22:19.879 a taste of motion, Cape Town's bus Cuisine Revolution. Going 0:22:19.920 --> 0:22:23.119 to be talking to Jonathan farre about bus Cuisine. It's 0:22:23.200 --> 0:22:27.560 Capeton's ground breaking luxury dining experience on wheels, where gourmet 0:22:27.640 --> 0:22:31.359 meals meet breathtaking views and unforgettable journeys through the heart 0:22:31.760 --> 0:22:32.439 of the city. 0:22:32.560 --> 0:22:34.800 Jonathan, Welcome on to the show. 0:22:35.760 --> 0:22:38.960 Hi, JANEA, thank you so much. Thank you for the invite. 0:22:39.520 --> 0:22:42.760 Looking forward to talking a little bit about our concept 0:22:42.800 --> 0:22:43.600 and what we're doing. 0:22:43.800 --> 0:22:46.840 I mean, when you first pitched it, did everyone think 0:22:46.880 --> 0:22:49.040 you were a bit crazy or a bit brilliant? I mean, 0:22:49.040 --> 0:22:51.480 what business opportunity. 0:22:50.800 --> 0:22:51.520 Were you solving? 0:22:53.400 --> 0:22:57.520 I think firstly when it was a concept that's actually 0:22:57.880 --> 0:23:02.440 overseas one or two European countries, but it was never 0:23:02.520 --> 0:23:06.040 being done in South Africa, and we just thought we've 0:23:06.040 --> 0:23:07.800 got to do it. We've got to try it. And 0:23:07.840 --> 0:23:11.600 we worked a year and a half up and forth 0:23:11.640 --> 0:23:15.159 building and at some states worried about is it going 0:23:15.240 --> 0:23:17.240 to work? It's isn't it going to work? But I'm 0:23:17.800 --> 0:23:21.080 so glad that we went through. It's taken off in 0:23:21.160 --> 0:23:24.400 Cape Town, and I must say for us to bring 0:23:24.480 --> 0:23:29.040 bus Cuisine as South Africa's first mobile upmarket market double 0:23:29.080 --> 0:23:33.159 decker restaurant to South Africa delivering a one of a 0:23:33.280 --> 0:23:37.840 kind dining experience was so great, and the Captonians and 0:23:37.880 --> 0:23:41.040 the people here as taken to it and enjoying what 0:23:41.080 --> 0:23:44.640 we're doing. And note that we're very excited about the journey, 0:23:45.160 --> 0:23:48.680 the growth, the new bus is coming, and very excited 0:23:48.760 --> 0:23:52.719 about the way forward and what lyinghead of it. 0:23:52.560 --> 0:23:55.360 So just paint a picture for us, you, I mean, 0:23:55.359 --> 0:23:58.360 do you move while people are eating? Is a bus 0:23:58.359 --> 0:24:01.800 static while you're join your wonderful. 0:24:01.520 --> 0:24:02.560 Cuisine and. 0:24:04.359 --> 0:24:09.119 No, it's a double decker, upmarket, double decker luxury BUSA 0:24:09.160 --> 0:24:13.080 on the top section, we've got thirty four seats upmarket, 0:24:13.200 --> 0:24:18.920 soft econ music, up market that we prepare meals. The 0:24:18.960 --> 0:24:23.240 bottom section is where we prepare our food and obviously 0:24:23.280 --> 0:24:28.160 our bathrooms. So we give a full five course lunch 0:24:28.520 --> 0:24:32.119 wine pairing tune off our trip and a six course 0:24:32.240 --> 0:24:37.160 dinner trip with wine pairing. So we leave typically the 0:24:37.359 --> 0:24:42.239 VNA waterfront, we do the Atlantic seaboard, Camps Bay, we 0:24:42.320 --> 0:24:45.280 go through to twelve Apostles to eight Oat Bay and 0:24:45.400 --> 0:24:48.400 come back. You've got that Scenique mountain on the left 0:24:48.440 --> 0:24:53.359 side Sea on the right hand, elevated views and it's 0:24:53.440 --> 0:25:00.600 just an amazing experience. It's a wine pairing with award 0:25:00.640 --> 0:25:05.000 wedding wine farms. The food is some of the best 0:25:05.000 --> 0:25:07.520 that belief that you can get and we're just giving 0:25:07.560 --> 0:25:11.919 the people actually a nice tour as well as a 0:25:12.119 --> 0:25:16.240 nice meal and goll mat experience that that you cannot 0:25:16.280 --> 0:25:17.240 have somewhere else. 0:25:18.480 --> 0:25:19.520