1 00:00:01,280 --> 00:00:05,560 Speaker 1: And now The Money Show with Stephen Credits on seven 2 00:00:05,600 --> 00:00:07,400 Speaker 1: o two, let's walk little. 3 00:00:07,720 --> 00:00:09,920 Speaker 2: The Money Show with Stephen Curtis is brought to you 4 00:00:09,920 --> 00:00:13,360 Speaker 2: by Abste Islamic Business Bank celebrating twenty years of banking 5 00:00:13,520 --> 00:00:17,240 Speaker 2: rooted in values, as is a registered FSP. Good evening, 6 00:00:17,239 --> 00:00:20,160 Speaker 2: Welcome to the program. Eight minutes after six this evening. 7 00:00:20,720 --> 00:00:22,919 Speaker 2: Please to tell you that in about a minute or 8 00:00:22,920 --> 00:00:25,759 Speaker 2: two you'll actually hear from the Minister of the Department 9 00:00:25,800 --> 00:00:29,080 Speaker 2: of Trade, Industry and Competition Parks. How glad to have 10 00:00:29,120 --> 00:00:32,560 Speaker 2: him on the program tonight. The big investment conference next week, 11 00:00:32,640 --> 00:00:35,839 Speaker 2: lots to talk about ahead of that, and obviously the timing. 12 00:00:36,000 --> 00:00:38,560 Speaker 2: I mean, I think we're honest with each other. Not great, 13 00:00:38,600 --> 00:00:41,760 Speaker 2: but when nowadays is a good time, So you know, 14 00:00:41,880 --> 00:00:43,880 Speaker 2: sometimes you just have to go ahead and do something. 15 00:00:43,880 --> 00:00:47,320 Speaker 2: I think that's probably the attitude and probably correctly of government. 16 00:00:47,640 --> 00:00:49,800 Speaker 2: You'll hear him in a moment or two. We'll talk 17 00:00:49,880 --> 00:00:53,400 Speaker 2: brands with Jeremy Samson. He's the chair of Brand Finance 18 00:00:53,520 --> 00:00:57,200 Speaker 2: Africa and it's interesting to see how our brand values 19 00:00:57,280 --> 00:01:00,440 Speaker 2: are changing so quickly. I was a little super that 20 00:01:00,600 --> 00:01:03,000 Speaker 2: Sandroll's brand has increased in value. I know they've been 21 00:01:03,000 --> 00:01:05,880 Speaker 2: doing a lot of advertising, and maybe that's part of it. 22 00:01:06,280 --> 00:01:09,400 Speaker 2: I suppose. Also, when so many roads are crumbling around you, 23 00:01:09,760 --> 00:01:11,640 Speaker 2: you go on a central road, you notice the difference. 24 00:01:11,680 --> 00:01:14,920 Speaker 2: Maybe that's part of it. Who knows. And then from 25 00:01:15,400 --> 00:01:19,360 Speaker 2: around in Friday File today we'll be speaking to Tempem Gamerti. 26 00:01:19,880 --> 00:01:23,800 Speaker 2: He runs a company called car sher Nova. Basically, if 27 00:01:23,840 --> 00:01:26,480 Speaker 2: you have a nice car you're not using it this weekend. 28 00:01:26,520 --> 00:01:28,959 Speaker 2: Maybe it's a BMW X five or something maybe a 29 00:01:28,959 --> 00:01:31,600 Speaker 2: bit possure than that, you can rent it out to someone. 30 00:01:31,600 --> 00:01:33,480 Speaker 2: He'll sort out all the insurance and all of that, 31 00:01:33,840 --> 00:01:37,320 Speaker 2: but he'll help you make money from your car. You'll 32 00:01:37,319 --> 00:01:38,720 Speaker 2: do it the other way around as well. Of course, 33 00:01:38,720 --> 00:01:41,120 Speaker 2: if you want an X five or something a little 34 00:01:41,120 --> 00:01:43,600 Speaker 2: posher than that, maybe a Bentley for the weekend, or 35 00:01:43,959 --> 00:01:45,520 Speaker 2: just to you know, fill it up at the local 36 00:01:45,560 --> 00:01:48,960 Speaker 2: petrol station, because that's how we show bling nowadays. Well 37 00:01:49,000 --> 00:01:51,040 Speaker 2: you could borrow it for the weekend to really looking 38 00:01:51,040 --> 00:01:52,960 Speaker 2: forward to that conversation. Good to hear from you this 39 00:01:53,040 --> 00:01:55,360 Speaker 2: evening on a double one double A three oh seven 40 00:01:55,360 --> 00:01:57,360 Speaker 2: O two two one four four six oh five six 41 00:01:57,440 --> 00:02:00,320 Speaker 2: seven and voice notes on seven two seven two one 42 00:02:00,440 --> 00:02:02,520 Speaker 2: seven two The Levy. 43 00:02:02,360 --> 00:02:06,320 Speaker 3: Show with Stephen Krudis live on ninety two point seven 44 00:02:06,440 --> 00:02:09,880 Speaker 3: and one six FM, streaming on the Prime Media Plus. 45 00:02:09,720 --> 00:02:12,639 Speaker 1: Now and DStv Channel eight five six. 46 00:02:12,720 --> 00:02:14,760 Speaker 2: Now, I think you'll probably agree it's not really my 47 00:02:14,919 --> 00:02:18,360 Speaker 2: place to offer advice to government. For a whole million reasons. 48 00:02:18,400 --> 00:02:20,919 Speaker 2: Why should they listen to me? Frankly, I have been 49 00:02:20,960 --> 00:02:23,320 Speaker 2: thinking a little bit about the announcement that will have 50 00:02:23,400 --> 00:02:26,840 Speaker 2: to be made soon about the fuel price, and it 51 00:02:26,880 --> 00:02:30,720 Speaker 2: seems to me, actually, if I were asked for my view, 52 00:02:31,000 --> 00:02:33,200 Speaker 2: I wouldn't issue it as a statement. In fact, what 53 00:02:33,240 --> 00:02:36,560 Speaker 2: I would do is I would probably say to myself, 54 00:02:36,800 --> 00:02:39,600 Speaker 2: there's an answer to delivering bad news, because think of 55 00:02:39,600 --> 00:02:41,800 Speaker 2: all the questions that come from the statement, could you 56 00:02:41,880 --> 00:02:43,760 Speaker 2: change the fuel levy? Could you do this? Could you 57 00:02:44,360 --> 00:02:46,920 Speaker 2: delay the increase in the road accident fund levy? All 58 00:02:46,960 --> 00:02:49,359 Speaker 2: of those things? And I would say, on balance, actually 59 00:02:49,360 --> 00:02:52,960 Speaker 2: government can't, and for the moment possibly shouldn't because everything's 60 00:02:53,000 --> 00:02:56,680 Speaker 2: been budgeted four. So what I would do, though, is 61 00:02:56,720 --> 00:02:58,640 Speaker 2: I would not just issue a statement. I would do 62 00:02:58,680 --> 00:03:01,960 Speaker 2: something a bit more than that. I would also depoliticize 63 00:03:01,960 --> 00:03:07,360 Speaker 2: it because for various reasons, and not always because and 64 00:03:07,360 --> 00:03:09,480 Speaker 2: they're not always to blame. But as soon as you 65 00:03:09,520 --> 00:03:11,600 Speaker 2: have a politician at a press conference, the sort of 66 00:03:11,600 --> 00:03:14,800 Speaker 2: whole thing can get derailed. What I would do, what 67 00:03:14,800 --> 00:03:17,520 Speaker 2: I would consider doing, certainly, is I'll have the Director 68 00:03:17,560 --> 00:03:20,160 Speaker 2: General from the Energy Ministry and maybe the Director General 69 00:03:20,200 --> 00:03:22,880 Speaker 2: from the National Treasury, and I would have a big 70 00:03:22,919 --> 00:03:25,440 Speaker 2: announcement like that, and I would make sure that they 71 00:03:25,440 --> 00:03:28,119 Speaker 2: can explain why the increases as big as it's going 72 00:03:28,160 --> 00:03:30,639 Speaker 2: to be, or what they consider to try and mitigate it, 73 00:03:30,680 --> 00:03:34,240 Speaker 2: why they didn't do that. I guarantee you every television 74 00:03:34,280 --> 00:03:36,760 Speaker 2: station and half the news channels would take that live 75 00:03:37,320 --> 00:03:39,600 Speaker 2: and then you would get ahead of the story. Just 76 00:03:40,280 --> 00:03:42,680 Speaker 2: my thoughts, we're going to get a big field price increase. 77 00:03:42,920 --> 00:03:45,520 Speaker 2: I do think the way it's communicated will really matter. 78 00:03:45,640 --> 00:03:47,720 Speaker 2: Twelve minutes after six The. 79 00:03:47,840 --> 00:03:51,840 Speaker 1: Money Show with Stephen Cruit on seven oh two seven 80 00:03:51,880 --> 00:03:52,200 Speaker 1: o two. 81 00:03:52,360 --> 00:03:55,640 Speaker 2: For next week, our government hosting the sixth Investor Conference, 82 00:03:55,680 --> 00:03:58,320 Speaker 2: people from thirty one countries. Are you to come here 83 00:03:58,360 --> 00:04:01,760 Speaker 2: and hopefully we'll be pledging money that will be invested 84 00:04:02,000 --> 00:04:05,320 Speaker 2: in our economy. The Ministry of Trade, Industry and Competition 85 00:04:05,440 --> 00:04:07,720 Speaker 2: is passed down and please to tell you he's here 86 00:04:07,760 --> 00:04:10,280 Speaker 2: to talk to you now minister, good evening, Good to 87 00:04:10,320 --> 00:04:11,920 Speaker 2: talk to you again and thank you for your time. 88 00:04:12,400 --> 00:04:14,160 Speaker 2: What are you aiming to do at this conference? 89 00:04:15,680 --> 00:04:19,000 Speaker 4: Good evening, Steven, and thank you very much. Just to 90 00:04:19,120 --> 00:04:22,520 Speaker 4: say that by the last count it to us more 91 00:04:22,520 --> 00:04:26,200 Speaker 4: than forty countries that have now confirmed attendance at the 92 00:04:26,240 --> 00:04:30,200 Speaker 4: investment conference, and I'd like to say still county because 93 00:04:30,240 --> 00:04:33,159 Speaker 4: there are some including from the Middle Is, that have 94 00:04:33,400 --> 00:04:37,000 Speaker 4: sown an interesting at telling the conference and are saying 95 00:04:37,000 --> 00:04:39,640 Speaker 4: that we're going their own lotistics. But of course we 96 00:04:40,080 --> 00:04:43,599 Speaker 4: answertain times and that you can't. But coming back to 97 00:04:43,600 --> 00:04:47,960 Speaker 4: the question that you raise in Stephen, this is an 98 00:04:48,040 --> 00:04:51,520 Speaker 4: investment conference that there has been taking place for some time. 99 00:04:51,600 --> 00:04:54,440 Speaker 4: Of course the last iteration of the conference was in 100 00:04:54,520 --> 00:04:58,960 Speaker 4: twenty twenty three and you've had to resume the conference 101 00:05:00,080 --> 00:05:04,040 Speaker 4: be able to mobilize investors to focus in South Africa 102 00:05:04,200 --> 00:05:08,920 Speaker 4: as an investment destination. It is looking at both investors 103 00:05:08,920 --> 00:05:11,480 Speaker 4: from a country point of view. So we're looking at 104 00:05:11,480 --> 00:05:15,440 Speaker 4: South African investors that are looking at great opportunities to 105 00:05:15,480 --> 00:05:19,520 Speaker 4: invest in projects in the country, to expand their operations 106 00:05:20,360 --> 00:05:22,560 Speaker 4: and the support that come to be able to give 107 00:05:22,560 --> 00:05:24,960 Speaker 4: in the Chuca. But whilst looking at a number of 108 00:05:25,000 --> 00:05:28,160 Speaker 4: international investors that are looking at South Africa as an 109 00:05:28,200 --> 00:05:32,960 Speaker 4: investment testination, and I should say we are a significantly 110 00:05:33,120 --> 00:05:38,599 Speaker 4: different investment proposition than at the last conference, partly, of course, 111 00:05:38,680 --> 00:05:43,040 Speaker 4: the recent events in the Middle East. We are certainly 112 00:05:43,080 --> 00:05:46,800 Speaker 4: a country that has turned the corner. We've addressed our 113 00:05:47,200 --> 00:05:51,359 Speaker 4: electricity challenges to sit pretty much down the way in 114 00:05:51,400 --> 00:05:55,480 Speaker 4: addressing the logistics challenges that have been major impediments to 115 00:05:55,720 --> 00:05:59,120 Speaker 4: investments in the country, and we're seeing great epithet by 116 00:05:59,160 --> 00:06:00,680 Speaker 4: investors come for the country. 117 00:06:01,440 --> 00:06:04,040 Speaker 2: So on the one side, you could say, well, this 118 00:06:04,120 --> 00:06:06,520 Speaker 2: is a very difficult time to have an investment conference. 119 00:06:06,960 --> 00:06:10,479 Speaker 2: The other side, counterintuitively, you could say this is the 120 00:06:10,520 --> 00:06:13,440 Speaker 2: best possible time because it reminds you that we have 121 00:06:13,520 --> 00:06:16,080 Speaker 2: a growth story while the rest of the world is 122 00:06:16,080 --> 00:06:17,520 Speaker 2: suddenly in a very difficult spot. 123 00:06:19,560 --> 00:06:23,240 Speaker 4: And in fact, we are in a position where when 124 00:06:23,279 --> 00:06:27,320 Speaker 4: you're talking logistics, for example, the reality is that most 125 00:06:27,320 --> 00:06:29,799 Speaker 4: of the ships now have to move around the Cape 126 00:06:29,800 --> 00:06:32,919 Speaker 4: of Gould Hope. That's the question about the sort of 127 00:06:32,960 --> 00:06:35,960 Speaker 4: support that would be required from US as a country 128 00:06:35,960 --> 00:06:38,600 Speaker 4: from a logistics point of view, from the point of 129 00:06:38,680 --> 00:06:43,040 Speaker 4: view of supply to supply chains, as people reorganize their 130 00:06:43,080 --> 00:06:46,919 Speaker 4: supply chain. So yes, I think that there could be 131 00:06:46,960 --> 00:06:50,760 Speaker 4: opportunities that South Africans and investors that come into the 132 00:06:50,800 --> 00:06:54,760 Speaker 4: country can take advantage of. Of course, it's not something 133 00:06:54,839 --> 00:06:57,280 Speaker 4: that you ever wish on any body to go to 134 00:06:57,400 --> 00:07:01,240 Speaker 4: the war, but the reality is that we are a 135 00:07:01,320 --> 00:07:05,039 Speaker 4: different composition right now, in a stable environment, in a 136 00:07:05,080 --> 00:07:10,040 Speaker 4: stable governance environment, and in a country that has literally 137 00:07:10,080 --> 00:07:13,160 Speaker 4: turned the corner from most of the indicators. 138 00:07:14,240 --> 00:07:17,360 Speaker 2: We've seen conferences like this before, as you say, people 139 00:07:17,400 --> 00:07:20,680 Speaker 2: pledged money. Have we seen the follow through? Have we 140 00:07:20,720 --> 00:07:23,320 Speaker 2: seen a change in our economy as a result of 141 00:07:23,320 --> 00:07:25,040 Speaker 2: the previous conferences? And I think for a lot of 142 00:07:25,080 --> 00:07:27,240 Speaker 2: people it's I mean, it's one thing to sort of 143 00:07:27,240 --> 00:07:30,120 Speaker 2: see the footage, to hear from you, to see people come, 144 00:07:30,960 --> 00:07:34,120 Speaker 2: but then they sort of might feel after as well. 145 00:07:34,120 --> 00:07:35,880 Speaker 2: Actually I don't see anything changing. 146 00:07:38,040 --> 00:07:40,960 Speaker 4: Well, first, I should say that from the commitments that 147 00:07:41,040 --> 00:07:45,280 Speaker 4: have been made include US Investment conferences, a lot of 148 00:07:45,320 --> 00:07:49,560 Speaker 4: these have been translated into actual practical projects on account. 149 00:07:49,600 --> 00:07:52,480 Speaker 4: In fact, for the three percent of those commitments have 150 00:07:52,560 --> 00:07:57,280 Speaker 4: been achieved, twenty seven percent under construction and about thirteen 151 00:07:57,360 --> 00:08:03,760 Speaker 4: percent at different stages of preparations. So we can say 152 00:08:03,800 --> 00:08:08,520 Speaker 4: that from the first investment drive that was able to 153 00:08:08,640 --> 00:08:12,400 Speaker 4: achieve a one point five trillion set of investment commitments, 154 00:08:12,680 --> 00:08:17,040 Speaker 4: we're seeing those translating into actual projects on the CLUND. 155 00:08:17,560 --> 00:08:21,240 Speaker 4: Going forward, of course, we are looking at the situation 156 00:08:21,280 --> 00:08:24,720 Speaker 4: where one we can increase the threshold over a medium 157 00:08:24,760 --> 00:08:28,520 Speaker 4: time period of a five year period to a target 158 00:08:28,560 --> 00:08:32,320 Speaker 4: of two trillion ran of investments. We've been working a 159 00:08:32,360 --> 00:08:36,120 Speaker 4: lot on mobilizing investors across different parts of the world 160 00:08:36,120 --> 00:08:41,360 Speaker 4: and unlocking different types of opportunities for investors in the country. 161 00:08:41,840 --> 00:08:44,959 Speaker 4: You would know that we announced that, for example, we 162 00:08:45,040 --> 00:08:47,839 Speaker 4: have an agreement with the European Union and what is 163 00:08:48,120 --> 00:08:52,040 Speaker 4: that in trade and investment partnership. We now working on 164 00:08:52,120 --> 00:08:57,480 Speaker 4: translating the commitment of twelve billion euro into actual practical 165 00:08:57,600 --> 00:09:00,520 Speaker 4: projects on the Clount and as a pipeline of projects 166 00:09:00,520 --> 00:09:04,720 Speaker 4: that we're discussing with the Europeans. We've been talking to 167 00:09:05,679 --> 00:09:09,480 Speaker 4: the Japanese at the back of the previous conference attended 168 00:09:09,800 --> 00:09:14,960 Speaker 4: by the President where we spoke about a number of 169 00:09:15,000 --> 00:09:20,600 Speaker 4: initiatives about potential investments, and we've been in discussions with 170 00:09:20,800 --> 00:09:24,160 Speaker 4: them in terms of how we translate those commitments into 171 00:09:24,280 --> 00:09:27,560 Speaker 4: actual practical investments. So in many ways, when we make 172 00:09:27,679 --> 00:09:30,680 Speaker 4: those announcements of our country agreements, it is in the 173 00:09:30,720 --> 00:09:34,440 Speaker 4: follow through. It isn't saying you've committed to come to 174 00:09:34,480 --> 00:09:39,960 Speaker 4: the country to invest on energy technologies, on pettery electric technologies, 175 00:09:40,040 --> 00:09:44,560 Speaker 4: on electric vehicle technologies. Now we are translating those into 176 00:09:44,880 --> 00:09:48,560 Speaker 4: practical projects located in a particular space. Fund it in 177 00:09:48,559 --> 00:09:49,679 Speaker 4: a particular way. 178 00:09:50,520 --> 00:09:53,280 Speaker 2: Minister or any of the investors coming next week from 179 00:09:53,320 --> 00:09:56,520 Speaker 2: the United States, Yes. 180 00:09:56,360 --> 00:10:00,920 Speaker 4: We are expecting investors from the United States. And I 181 00:10:00,960 --> 00:10:04,120 Speaker 4: should say that we've been in continuous discussions with the 182 00:10:04,240 --> 00:10:06,520 Speaker 4: United States. We've been able to ad trust in this 183 00:10:06,679 --> 00:10:11,000 Speaker 4: Chamber of Commerce post Localuba trusting this chamber in the US. 184 00:10:11,080 --> 00:10:14,760 Speaker 4: In fact, the US Chamber of Commerce will be at 185 00:10:14,800 --> 00:10:17,959 Speaker 4: the investment conference themselves, and I should say they're also 186 00:10:17,960 --> 00:10:21,400 Speaker 4: at the mining in Dava, So there's great appetite even 187 00:10:21,520 --> 00:10:24,200 Speaker 4: in the US is look at South Africa as an 188 00:10:24,200 --> 00:10:25,200 Speaker 4: investment destination. 189 00:10:25,760 --> 00:10:28,840 Speaker 2: We know that the Trump administration has been attacking black 190 00:10:28,920 --> 00:10:34,160 Speaker 2: based black economic empowerment. Do the US Chamber of Commers 191 00:10:34,200 --> 00:10:38,320 Speaker 2: Do US business people have the same view of Bee 192 00:10:38,559 --> 00:10:39,199 Speaker 2: that Trump does? 193 00:10:40,840 --> 00:10:43,720 Speaker 4: You know, in reality, the United States has experienced black 194 00:10:43,720 --> 00:10:47,280 Speaker 4: economic empowerment for much lower than we have as a country. 195 00:10:47,280 --> 00:10:50,040 Speaker 4: In fact, there are many interesting and good pays. That 196 00:10:50,240 --> 00:10:53,280 Speaker 4: is about the implementation of what we have been there 197 00:10:53,720 --> 00:10:59,080 Speaker 4: the program which has been discontinued by the current regym, 198 00:10:59,120 --> 00:11:02,839 Speaker 4: but many countries continue to implement THEAI or other Many 199 00:11:02,920 --> 00:11:07,080 Speaker 4: companies continue to implement the Year Initiative SEND. Many of 200 00:11:07,120 --> 00:11:11,760 Speaker 4: them do understand their regulation and the legislative framework. 201 00:11:12,240 --> 00:11:16,200 Speaker 2: And the policy of BE I mean generally speaking, Minister, 202 00:11:16,280 --> 00:11:18,840 Speaker 2: if I may, we've seen some parts, we've seen the 203 00:11:18,840 --> 00:11:23,479 Speaker 2: Trump administration attacking it also consistently some parts of our society. 204 00:11:23,880 --> 00:11:26,440 Speaker 2: Do you believe it's working as it is or do 205 00:11:26,480 --> 00:11:28,200 Speaker 2: you think and I know there are a few tweaks, 206 00:11:28,200 --> 00:11:31,400 Speaker 2: but should they be a much bigger reform of BEE? 207 00:11:32,360 --> 00:11:35,800 Speaker 4: Well, I think that the President did announce cenativity. President 208 00:11:35,880 --> 00:11:39,160 Speaker 4: said so last recons so that we will be initiating 209 00:11:39,200 --> 00:11:44,600 Speaker 4: a process of a comprehensiveness year of the transformation architecture 210 00:11:44,600 --> 00:11:48,040 Speaker 4: in the country to ensure that it's able to achieve 211 00:11:48,480 --> 00:11:52,120 Speaker 4: its objectives at a much faster place and make greater impact. 212 00:11:52,120 --> 00:11:56,040 Speaker 4: But I think it would be inappropriate to even suggest 213 00:11:56,120 --> 00:11:58,760 Speaker 4: that there hasn't been progress. I mean, if you look 214 00:11:58,800 --> 00:12:02,720 Speaker 4: at what constitutes based political compartment, and you look at 215 00:12:02,720 --> 00:12:06,400 Speaker 4: the facets of broad based politic economic compartment. You start with, 216 00:12:06,559 --> 00:12:10,760 Speaker 4: let's say the employment equity component. It is a number 217 00:12:10,800 --> 00:12:14,679 Speaker 4: of black people that participate in management structures as a 218 00:12:14,720 --> 00:12:19,000 Speaker 4: result of policies that program black people to participate in 219 00:12:19,360 --> 00:12:23,440 Speaker 4: professional and management components in different organizations and in a 220 00:12:23,559 --> 00:12:26,640 Speaker 4: huge increase of the number of black people. It is 221 00:12:26,679 --> 00:12:32,640 Speaker 4: about creating skills amongst people historically disadvantaged and massive skills programs. 222 00:12:32,960 --> 00:12:35,880 Speaker 4: Now you know when people sit possibly and say I 223 00:12:36,000 --> 00:12:39,640 Speaker 4: participate in a skills program funded by this company, You're 224 00:12:39,640 --> 00:12:43,840 Speaker 4: not always talk pretest but PE, because it's not written PE. 225 00:12:43,960 --> 00:12:44,959 Speaker 2: But this is the. 226 00:12:44,920 --> 00:12:50,920 Speaker 4: Implementation of policy. It is about participation equity, of course, 227 00:12:50,920 --> 00:12:53,240 Speaker 4: which is what most people are focused on, but it's 228 00:12:53,240 --> 00:12:57,320 Speaker 4: also about enterprise and supplier development. I always say to people, 229 00:12:57,400 --> 00:13:00,480 Speaker 4: you know, somebody could be in uma lane in a 230 00:13:00,840 --> 00:13:07,160 Speaker 4: mind providing a particular service, and that could be logistics services. 231 00:13:07,200 --> 00:13:10,720 Speaker 4: You could be providing logistics to the company. And this 232 00:13:10,880 --> 00:13:14,040 Speaker 4: is as a result of broad based economic department policies 233 00:13:14,400 --> 00:13:17,959 Speaker 4: that these contuits of access have been created. So when 234 00:13:18,000 --> 00:13:21,560 Speaker 4: you're talking about PE and one to review it, look 235 00:13:21,600 --> 00:13:25,000 Speaker 4: at it comprehensively and say wherever we as a country 236 00:13:25,320 --> 00:13:27,760 Speaker 4: before this laws and where are we as a country today. 237 00:13:28,120 --> 00:13:30,600 Speaker 4: I certainly don't doubt that we need to do a 238 00:13:30,640 --> 00:13:33,320 Speaker 4: lot more to create a more equitable South Africa. And 239 00:13:33,320 --> 00:13:36,000 Speaker 4: I think it isn't the best interest of this country 240 00:13:36,000 --> 00:13:39,320 Speaker 4: to have a society that is truly non racial, not 241 00:13:39,440 --> 00:13:43,800 Speaker 4: on the basis of only our participation in elections and 242 00:13:43,920 --> 00:13:47,720 Speaker 4: other events, but because we have equitable access to opportunity 243 00:13:47,760 --> 00:13:51,520 Speaker 4: in this country. We have equitable access to the ability 244 00:13:51,640 --> 00:13:56,000 Speaker 4: to participate in the economy too, is to create our 245 00:13:56,040 --> 00:14:00,320 Speaker 4: own enterprises, to be networked into the system of economic. 246 00:14:00,200 --> 00:14:00,760 Speaker 3: To the gym. 247 00:14:01,000 --> 00:14:03,800 Speaker 4: But I think that's the country we should always all 248 00:14:03,800 --> 00:14:06,840 Speaker 4: of us aspired to us. Well, we get to a 249 00:14:06,880 --> 00:14:09,880 Speaker 4: point where the race is not a factor, not because 250 00:14:09,920 --> 00:14:12,800 Speaker 4: we're trying to puss it away, but because we've got 251 00:14:12,840 --> 00:14:16,840 Speaker 4: into a point we're comfortably the country is saying we've 252 00:14:16,880 --> 00:14:20,680 Speaker 4: overcome the impact of our past and including a new society. 253 00:14:20,720 --> 00:14:23,560 Speaker 2: All tookither Minister, thank you very much indeed for your time. 254 00:14:23,680 --> 00:14:26,400 Speaker 2: Parks Towers, the Ministry of Trade, Industry and Competition, on 255 00:14:26,520 --> 00:14:27,760 Speaker 2: The Money Show tonight. 256 00:14:28,280 --> 00:14:31,040 Speaker 1: The Money Show Explainer twenty three. 257 00:14:31,120 --> 00:14:33,360 Speaker 2: After six news this week that the top brand in 258 00:14:33,400 --> 00:14:36,800 Speaker 2: the country still MTN. Capy Tech has finally gotten to 259 00:14:36,880 --> 00:14:39,640 Speaker 2: the top ten and checkers have seen its brand strength 260 00:14:39,680 --> 00:14:44,880 Speaker 2: improved dramatically. Jeremy Sampson is the chair of Brand Finance Africa. Jeremy, 261 00:14:44,880 --> 00:14:48,000 Speaker 2: good evening. You assess a huge range of brands. How 262 00:14:48,040 --> 00:14:50,880 Speaker 2: do you assess their value? I mean I see the 263 00:14:50,960 --> 00:14:53,840 Speaker 2: MTN logo everywhere. How do you know it's the best one? 264 00:14:55,440 --> 00:14:58,920 Speaker 5: Hello, Stephen, very good to be with you. Look, this 265 00:14:59,000 --> 00:15:01,480 Speaker 5: has been going on for a thirteen years. We've done 266 00:15:01,480 --> 00:15:06,120 Speaker 5: the rankings. But Brand Finance, which is London based, it's 267 00:15:06,160 --> 00:15:10,240 Speaker 5: thirty years old this year in fact, and what we 268 00:15:10,320 --> 00:15:14,800 Speaker 5: do is use international standards for both brand valuation that's 269 00:15:14,840 --> 00:15:18,640 Speaker 5: the financial value and the brand strength. So this is 270 00:15:18,680 --> 00:15:21,000 Speaker 5: where often we're all for the most part, we're looking 271 00:15:21,040 --> 00:15:23,960 Speaker 5: at companies that are quoted on stock exchange et cetera, 272 00:15:24,440 --> 00:15:26,600 Speaker 5: where we have data and on top of it, we 273 00:15:26,640 --> 00:15:28,920 Speaker 5: have lots of research and we do our own research 274 00:15:28,960 --> 00:15:31,920 Speaker 5: as well, and that's how we can monitor what's going on. 275 00:15:32,400 --> 00:15:35,160 Speaker 5: As you're saying, MTN is the number one brand, has 276 00:15:35,240 --> 00:15:38,200 Speaker 5: been all along and it's got a value of just 277 00:15:38,240 --> 00:15:42,440 Speaker 5: over fifty billion. Number two is Vodacon breathing down its 278 00:15:42,480 --> 00:15:45,040 Speaker 5: neck and this year we've got a third brand and 279 00:15:45,080 --> 00:15:47,640 Speaker 5: that Standard Bank. It's closing in on them as well. 280 00:15:48,040 --> 00:15:50,840 Speaker 5: So this is where we can assess their financial value, 281 00:15:51,160 --> 00:15:55,040 Speaker 5: assess the brand value and the contribution of that brand 282 00:15:55,120 --> 00:15:55,920 Speaker 5: to their business. 283 00:15:56,640 --> 00:15:59,920 Speaker 2: We also see obviously it's really a kind of mess 284 00:16:00,160 --> 00:16:05,120 Speaker 2: consumer game. So communicators, retailers, I mean banks, I mean 285 00:16:05,200 --> 00:16:08,080 Speaker 2: Capitech a brand used by millions of people and that 286 00:16:08,120 --> 00:16:10,160 Speaker 2: obviously helps it stand out, and it's making a lot 287 00:16:10,160 --> 00:16:10,720 Speaker 2: of progress. 288 00:16:11,720 --> 00:16:14,680 Speaker 5: Well absolutely, you know, it's amazing. What is it. It's about 289 00:16:14,680 --> 00:16:16,800 Speaker 5: twenty three years old, but this year it's got a 290 00:16:16,800 --> 00:16:19,400 Speaker 5: brand value of about twenty four million, you know, which 291 00:16:19,440 --> 00:16:24,520 Speaker 5: is incredible, and the way it's growing is very well, 292 00:16:24,640 --> 00:16:28,280 Speaker 5: very fast. Indeed, the banking sector is very interesting because 293 00:16:28,520 --> 00:16:30,760 Speaker 5: for a long time historically we've talked with the big 294 00:16:30,840 --> 00:16:34,920 Speaker 5: four and that's changing. As you say, Capitec now is 295 00:16:34,960 --> 00:16:38,680 Speaker 5: in the top ten, but when you actually think below Capitec, 296 00:16:39,080 --> 00:16:41,880 Speaker 5: you know, there are quite a few banks coming up 297 00:16:41,920 --> 00:16:46,680 Speaker 5: that discoveries the bank zero go time and I probably 298 00:16:46,720 --> 00:16:50,200 Speaker 5: missed out someone, but it's a sector that also in 299 00:16:50,240 --> 00:16:53,640 Speaker 5: the last year just the banking sector has grown in 300 00:16:53,720 --> 00:16:57,600 Speaker 5: value by nearly seventeen eighteen percent, which is incredible. 301 00:16:59,200 --> 00:17:02,840 Speaker 2: I saw san well, the South African National Roads Agency 302 00:17:02,960 --> 00:17:06,119 Speaker 2: Limited is now in the ranking. This is a government entity. 303 00:17:06,800 --> 00:17:07,920 Speaker 2: How they done that. 304 00:17:09,480 --> 00:17:11,479 Speaker 5: Steven, I'm going to ask you why you were laughing, 305 00:17:11,560 --> 00:17:14,680 Speaker 5: because we were asked to work with them to assess 306 00:17:15,200 --> 00:17:18,640 Speaker 5: what their brand is actually achieving. And it is an 307 00:17:18,640 --> 00:17:23,360 Speaker 5: incredible success story. Know what they do, what they've been 308 00:17:23,400 --> 00:17:26,960 Speaker 5: doing now for quite some years, the momentum they've built up, 309 00:17:27,320 --> 00:17:30,879 Speaker 5: improving our roads, working with the communities around them. And 310 00:17:30,920 --> 00:17:34,760 Speaker 5: this is where states owned enterprises are very, very interesting. 311 00:17:35,080 --> 00:17:37,840 Speaker 5: They're going way way back. I was involved in the 312 00:17:37,880 --> 00:17:41,720 Speaker 5: brand valuation, but Escom probably twenty five years ago, and 313 00:17:41,920 --> 00:17:44,800 Speaker 5: Escomb in those days had huge value. We've done work 314 00:17:44,840 --> 00:17:48,080 Speaker 5: with say Airways as well. And this is where when 315 00:17:48,119 --> 00:17:51,679 Speaker 5: state owned enterprises, and listening to your previous interview with 316 00:17:51,720 --> 00:17:55,360 Speaker 5: the minister, get them out of loss making situations, get 317 00:17:55,400 --> 00:17:58,159 Speaker 5: them into profit and make sure their brands grow in 318 00:17:58,320 --> 00:18:02,600 Speaker 5: value as an intangible And I think there are success 319 00:18:02,640 --> 00:18:05,920 Speaker 5: stories and Sandrow is a huge success story. 320 00:18:06,480 --> 00:18:10,480 Speaker 2: When you're building a brand, Jeremy, is it all really 321 00:18:10,520 --> 00:18:13,040 Speaker 2: about how much money you have. I mean, I would 322 00:18:13,160 --> 00:18:15,480 Speaker 2: like to think it's a bit more subtle and cleverer 323 00:18:15,520 --> 00:18:15,840 Speaker 2: than that. 324 00:18:15,880 --> 00:18:20,760 Speaker 5: In many cases, Look, it's much more subtler and kevl Look, 325 00:18:21,000 --> 00:18:23,679 Speaker 5: you've got people with deep pockets obviously, and we've mentioned 326 00:18:23,720 --> 00:18:26,280 Speaker 5: some of them now, But sometimes you have a small 327 00:18:26,359 --> 00:18:30,480 Speaker 5: brand that builds up over time. The one that's exploded 328 00:18:30,520 --> 00:18:34,159 Speaker 5: into activity this last year has been Pepcor, which has 329 00:18:34,200 --> 00:18:37,159 Speaker 5: been around and I'm guessing but it's probably been around 330 00:18:37,200 --> 00:18:40,119 Speaker 5: forty years or so, but on a very very slow burn. 331 00:18:40,560 --> 00:18:43,359 Speaker 5: But now it's really taken off. And also one of 332 00:18:43,400 --> 00:18:45,920 Speaker 5: the reasons it's moved into the financial sector as well. 333 00:18:46,320 --> 00:18:48,880 Speaker 5: But then Boxer, you know, I don't know how much 334 00:18:48,880 --> 00:18:51,960 Speaker 5: money is being spent on marketing Boxer, but you know 335 00:18:52,000 --> 00:18:54,920 Speaker 5: it's a subsidiary of pick and Pay. Again, a huge 336 00:18:55,000 --> 00:18:57,840 Speaker 5: success story, and I don't know that they're spending that 337 00:18:58,000 --> 00:19:01,040 Speaker 5: much marketing. I'm up in their time, good audience, but 338 00:19:01,160 --> 00:19:04,840 Speaker 5: again an incredible success story. So this is where if 339 00:19:04,840 --> 00:19:07,960 Speaker 5: you build a brand brick by brick, you can grow 340 00:19:08,119 --> 00:19:10,960 Speaker 5: and then if you're in the right place, the right positioning, 341 00:19:11,359 --> 00:19:14,520 Speaker 5: and if you stay relevant with your customers over time, 342 00:19:14,600 --> 00:19:17,240 Speaker 5: you're going to grow. Some brands have got it wrong 343 00:19:17,280 --> 00:19:19,520 Speaker 5: at the moment, and the Multi Choice is one of those. 344 00:19:20,080 --> 00:19:22,800 Speaker 5: SPA is having a very very difficult time as well, 345 00:19:23,720 --> 00:19:25,760 Speaker 5: and this is where the brands can go up and 346 00:19:25,800 --> 00:19:28,080 Speaker 5: they can go down as well if they get out 347 00:19:28,119 --> 00:19:30,600 Speaker 5: of kilter, if they forget to keep their finger on 348 00:19:30,640 --> 00:19:33,720 Speaker 5: the pulse of their consumer. It's so competitive out there 349 00:19:33,760 --> 00:19:35,760 Speaker 5: today that they can soon disappear. 350 00:19:36,160 --> 00:19:38,000 Speaker 2: Jemie Samson, good to talk to you again. Thank you 351 00:19:38,040 --> 00:19:41,560 Speaker 2: so much. Share of Brand Finance, Africa, The Money Show, 352 00:19:42,000 --> 00:19:46,040 Speaker 2: The Market. Grant Na, portfolio manager of Benguela Global Fund Managers, 353 00:19:46,080 --> 00:19:50,280 Speaker 2: Grant Good evening, So Doronald Trump announcers excuse me, President 354 00:19:50,280 --> 00:19:53,160 Speaker 2: Trump announcers that they will be a sort of ceasefire. 355 00:19:53,160 --> 00:19:56,800 Speaker 2: You won't attack Iran's energy facilities for a period and 356 00:19:57,040 --> 00:20:01,720 Speaker 2: markets kind of go no bressed. I mean, it ready 357 00:20:01,760 --> 00:20:03,080 Speaker 2: just seems to prolong the agony. 358 00:20:03,080 --> 00:20:08,720 Speaker 6: Frankly, Yeah, indeed, Stephen, it really is. It's a question 359 00:20:08,800 --> 00:20:12,280 Speaker 6: of are both parties willing and able to find a 360 00:20:12,320 --> 00:20:15,439 Speaker 6: middle ground. And remember, Iran doesn't have a lot of leverage, 361 00:20:15,480 --> 00:20:18,240 Speaker 6: but the key leverage they do have is the straightforth moves. 362 00:20:18,720 --> 00:20:21,280 Speaker 6: And if you think back to China in the tariff war. 363 00:20:21,520 --> 00:20:25,960 Speaker 6: The rare earths standoffs, right, they are the controlling They 364 00:20:25,960 --> 00:20:28,919 Speaker 6: had control over that supply chain, and they leverage that 365 00:20:29,440 --> 00:20:31,879 Speaker 6: to the maximum, and I think we've seen that with Iran. 366 00:20:31,920 --> 00:20:34,000 Speaker 6: But I think the longer this goes on, the more 367 00:20:34,000 --> 00:20:38,399 Speaker 6: it establishes their leverage. Their tote point is really around 368 00:20:38,400 --> 00:20:42,280 Speaker 6: that control over that straight and they're not rushing to 369 00:20:42,760 --> 00:20:46,960 Speaker 6: find a conclusion here, although it's politically not expedient for 370 00:20:47,000 --> 00:20:49,200 Speaker 6: Trump to find a result. I mean it is expedient. 371 00:20:49,280 --> 00:20:51,879 Speaker 6: He wants to get it finished now, but it doesn't 372 00:20:51,960 --> 00:20:55,560 Speaker 6: suit them, and so there's this ton of standoffs. Israel 373 00:20:55,600 --> 00:20:58,439 Speaker 6: has their own agenda. So I'm finding it hard to 374 00:20:58,480 --> 00:21:00,920 Speaker 6: see kind of the the lights at the end of 375 00:21:00,960 --> 00:21:03,240 Speaker 6: the tunnel in the near term, even though I think 376 00:21:03,280 --> 00:21:05,240 Speaker 6: at the end will eventually get there. 377 00:21:06,440 --> 00:21:08,760 Speaker 2: I mean, it's been interesting to watch which stocks are 378 00:21:08,800 --> 00:21:11,720 Speaker 2: being kind of stable during the spirit and stable during 379 00:21:11,760 --> 00:21:15,120 Speaker 2: the spirit you're doing well. So I think British, American tobacco, bitcore, 380 00:21:15,600 --> 00:21:18,800 Speaker 2: ad bit tech, I suppose food stocks. I mean, these 381 00:21:18,800 --> 00:21:21,160 Speaker 2: are all quite defensive. I mean, this is what I'll 382 00:21:21,240 --> 00:21:22,440 Speaker 2: be buying at this moment. 383 00:21:23,720 --> 00:21:27,000 Speaker 6: Yeah, Indeed, there's a clear defensive bias in the market, 384 00:21:27,880 --> 00:21:30,840 Speaker 6: but not all stocks are equally defensive. So your food 385 00:21:30,880 --> 00:21:33,840 Speaker 6: producers are going to struggle with this inflation and this 386 00:21:33,960 --> 00:21:36,960 Speaker 6: input cost increase because they don't have the pricing power 387 00:21:37,280 --> 00:21:41,240 Speaker 6: that the food retailers have. And including a bitcop which 388 00:21:41,240 --> 00:21:44,120 Speaker 6: has also got a rand hedge quality to it ETI 389 00:21:44,320 --> 00:21:46,960 Speaker 6: or British American tobacco's got a nice rand hege quality, 390 00:21:47,400 --> 00:21:51,280 Speaker 6: and how the bush has been quite defensive. So without ADUBT, 391 00:21:51,320 --> 00:21:54,639 Speaker 6: there's a defensive talk to the market. And disappointingly gold 392 00:21:54,640 --> 00:21:55,879 Speaker 6: has not been in that camp. 393 00:21:57,280 --> 00:22:00,199 Speaker 2: I mean, we've had a sort of difficult mump for 394 00:22:00,280 --> 00:22:02,400 Speaker 2: March is really being defined by this. Is there any 395 00:22:02,480 --> 00:22:04,399 Speaker 2: kind of sector that's standing out at the moment? 396 00:22:06,480 --> 00:22:09,240 Speaker 6: I think I think, I guess there's this negative standout, 397 00:22:09,240 --> 00:22:11,679 Speaker 6: which is goal for me, which typically should have been 398 00:22:11,720 --> 00:22:14,879 Speaker 6: a bit more defensive in an environment like this, but 399 00:22:14,960 --> 00:22:18,560 Speaker 6: I think there's so many speculators and you know, retail 400 00:22:18,600 --> 00:22:21,399 Speaker 6: investors maybe in that trade that it's become a risk on, 401 00:22:21,480 --> 00:22:23,520 Speaker 6: risk off trade just like the rest of the market. 402 00:22:24,119 --> 00:22:25,879 Speaker 6: And then of course, as you said, the defense of 403 00:22:25,920 --> 00:22:29,800 Speaker 6: the RAM hedges and energy has been incredibly good. The 404 00:22:29,960 --> 00:22:32,680 Speaker 6: likes of the coal players and Sattle. They are clear 405 00:22:32,760 --> 00:22:35,840 Speaker 6: beneficiaries of this playing out, but probably will be for 406 00:22:35,920 --> 00:22:38,840 Speaker 6: some time still, not just a one off win for them. 407 00:22:39,200 --> 00:22:42,880 Speaker 2: Grant Nata, thanks so much, portfolio manager Benguerlo Global Fund Managers. 408 00:22:42,920 --> 00:22:46,040 Speaker 2: Thirty seconds after six thirty The Landy. 409 00:22:45,800 --> 00:22:49,720 Speaker 3: Show with Stephen Kruders Live on ninety two point seven 410 00:22:49,880 --> 00:22:53,320 Speaker 3: and one six FM, streaming on the Prime Media Plus. 411 00:22:53,160 --> 00:22:56,320 Speaker 1: NAP and DStv channel eight five six. 412 00:22:56,200 --> 00:22:58,840 Speaker 2: Twenty minutes to seven. The time you might remember earlier 413 00:22:58,920 --> 00:23:01,560 Speaker 2: in the week I describe the US President Donald Trump 414 00:23:01,600 --> 00:23:05,200 Speaker 2: is a very small person. This was yesterday after it 415 00:23:05,280 --> 00:23:07,520 Speaker 2: emerged the US government to put pressure on the French 416 00:23:07,560 --> 00:23:10,000 Speaker 2: government to stop US from coming to the G seven 417 00:23:10,040 --> 00:23:13,240 Speaker 2: because obviously they're so scared of US. Now we understand 418 00:23:13,320 --> 00:23:16,760 Speaker 2: that Donald Trump is signing his own signature, So his 419 00:23:16,880 --> 00:23:20,679 Speaker 2: own signature, you know, that big signature is going to 420 00:23:20,680 --> 00:23:23,960 Speaker 2: appear on US dollar bills currency. I mean, I don't 421 00:23:23,960 --> 00:23:25,199 Speaker 2: know if they're going to have space for it. If 422 00:23:25,200 --> 00:23:28,960 Speaker 2: you've seen the signature, but I mean, no living US 423 00:23:29,040 --> 00:23:30,720 Speaker 2: presence has ever done that as far as I know. 424 00:23:30,800 --> 00:23:34,480 Speaker 2: For the last one hundred and fifty years, it's been 425 00:23:34,480 --> 00:23:37,359 Speaker 2: the Treasury Secretary for US. Of course, it's always the 426 00:23:37,400 --> 00:23:39,960 Speaker 2: Reserve Bank governor, which sort of makes sense. Was wondered 427 00:23:39,960 --> 00:23:43,040 Speaker 2: if they practiced it. But who decides to go and 428 00:23:43,040 --> 00:23:46,640 Speaker 2: put their own signature on money? I mean, what does 429 00:23:46,640 --> 00:23:50,119 Speaker 2: that tell you about the person? Anyway, you tell me 430 00:23:50,600 --> 00:23:53,840 Speaker 2: eleven and twenty nineteen minutes now to seven o'clock, the 431 00:23:54,080 --> 00:23:57,600 Speaker 2: Money Show, the Friday File, the Friday File, don't forget 432 00:23:57,640 --> 00:24:00,520 Speaker 2: after the Friday File comes the Friday busy. Let's see, 433 00:24:00,480 --> 00:24:02,240 Speaker 2: you might just want to start warming things up a 434 00:24:02,280 --> 00:24:04,760 Speaker 2: little bit for that. Well, when you plan your weekend, 435 00:24:04,840 --> 00:24:06,439 Speaker 2: I mean, you might have an event you like to 436 00:24:06,480 --> 00:24:09,119 Speaker 2: go to. There might be a bride somewhere, maybe your 437 00:24:09,200 --> 00:24:12,359 Speaker 2: daughter's got a metric dance. Maybe there's a place you'd 438 00:24:12,400 --> 00:24:15,240 Speaker 2: like to make an impression. Maybe you're just going out 439 00:24:16,119 --> 00:24:19,320 Speaker 2: with your partner and all you want to do is 440 00:24:19,800 --> 00:24:22,920 Speaker 2: on the way they go in a particularly nice carriage. 441 00:24:23,359 --> 00:24:26,640 Speaker 2: On the way back come back in a nice car. Well, 442 00:24:26,680 --> 00:24:29,119 Speaker 2: someone is making a good living providing just that. The 443 00:24:29,160 --> 00:24:33,200 Speaker 2: car's called Karsher Nova is run by Temper and Gamerti. 444 00:24:33,640 --> 00:24:35,600 Speaker 2: He's in the studio now, Timber is great to meet you. 445 00:24:35,640 --> 00:24:36,639 Speaker 2: Thanks so much for coming in. 446 00:24:36,720 --> 00:24:38,440 Speaker 7: Oh, it's great to be here. I'm such a fan 447 00:24:38,600 --> 00:24:41,359 Speaker 7: and really honored to be here. Well, it's very kind. 448 00:24:41,359 --> 00:24:46,360 Speaker 7: So you don't own the cars, you arrange the rentals. 449 00:24:47,000 --> 00:24:47,879 Speaker 7: How does it work? 450 00:24:48,320 --> 00:24:48,480 Speaker 2: Oh? 451 00:24:48,560 --> 00:24:52,600 Speaker 7: Yes, So we are a car sharing platform. Hence the 452 00:24:52,720 --> 00:24:55,400 Speaker 7: name karsher Nova. It's actually a blend of the word 453 00:24:55,480 --> 00:25:00,520 Speaker 7: Karshier and Casanova, which is the famous adventurer. But whole 454 00:25:00,600 --> 00:25:04,560 Speaker 7: thing is to break the commitment to cars, meaning bringing 455 00:25:04,600 --> 00:25:07,359 Speaker 7: everyday cars into the shared economy. So if you look 456 00:25:07,400 --> 00:25:10,200 Speaker 7: at platforms like Airbnb, that's where our model sort of 457 00:25:10,240 --> 00:25:13,920 Speaker 7: comes from. And we basically operate similar to a cors 458 00:25:13,960 --> 00:25:16,720 Speaker 7: do theododday or an auto trader, but not for sale, 459 00:25:17,000 --> 00:25:20,960 Speaker 7: rather for access. So basically a cartionuring platform that allows 460 00:25:21,000 --> 00:25:25,560 Speaker 7: everyday individuals emerging currental operators and OEMs to rent out 461 00:25:25,560 --> 00:25:30,840 Speaker 7: cars to veted renters, which can be individuals, corporates, or 462 00:25:30,880 --> 00:25:31,640 Speaker 7: even the government. 463 00:25:32,080 --> 00:25:35,640 Speaker 2: So it's it's a bit like what all of these 464 00:25:35,680 --> 00:25:38,119 Speaker 2: things do is they kind of democratize something that was 465 00:25:38,119 --> 00:25:41,000 Speaker 2: happening and then the process that make it much cheaper 466 00:25:40,359 --> 00:25:41,200 Speaker 2: one percent. 467 00:25:41,400 --> 00:25:44,680 Speaker 7: So if you look at the currental industry, it's over 468 00:25:44,720 --> 00:25:48,680 Speaker 7: a billion dollar market in South Africa loan and it's 469 00:25:48,840 --> 00:25:53,560 Speaker 7: only been operated by about five or six companies which 470 00:25:53,560 --> 00:25:56,200 Speaker 7: we all know. And right now, what we are doing 471 00:25:56,280 --> 00:25:59,360 Speaker 7: is basically enabling everyone to enter that market and get 472 00:25:59,359 --> 00:26:00,000 Speaker 7: a share of it. 473 00:26:00,040 --> 00:26:00,800 Speaker 2: Like I said, it's. 474 00:26:00,680 --> 00:26:03,840 Speaker 7: Been done in property before, and right now we're doing 475 00:26:03,840 --> 00:26:06,520 Speaker 7: it for vehicles. And we do that through just an 476 00:26:06,560 --> 00:26:10,200 Speaker 7: amazing textack that takes everything that happens at the rental 477 00:26:10,280 --> 00:26:12,639 Speaker 7: counter and the back office of these rental companies and 478 00:26:12,680 --> 00:26:15,399 Speaker 7: we put it on a simple phone and allow you 479 00:26:15,440 --> 00:26:17,360 Speaker 7: to access those cars. 480 00:26:17,200 --> 00:26:20,480 Speaker 2: You mentioned Casanova. We're not talking about corollas and swifts yet. 481 00:26:21,359 --> 00:26:25,199 Speaker 7: So initially, initially that's how we started. We started in 482 00:26:25,240 --> 00:26:28,520 Speaker 7: the premium sector and that was only to de risk. 483 00:26:28,960 --> 00:26:31,359 Speaker 7: The margins are higher if you look at history, all 484 00:26:31,400 --> 00:26:34,199 Speaker 7: great technology sort of start at the high end for 485 00:26:34,280 --> 00:26:38,720 Speaker 7: affordability and basically you have a small team that has 486 00:26:38,760 --> 00:26:41,160 Speaker 7: to manage a few rentals and understand how it works. 487 00:26:41,520 --> 00:26:45,639 Speaker 7: Right now, we are expanding into the premium category. The 488 00:26:45,760 --> 00:26:48,359 Speaker 7: idea was always to allow every day South Africans to 489 00:26:48,400 --> 00:26:51,000 Speaker 7: earn from the platform, similar to what the likes of 490 00:26:51,080 --> 00:26:54,480 Speaker 7: Uber have done, allow everyday people to put their vehicles 491 00:26:54,520 --> 00:26:57,639 Speaker 7: on the market, drivers to come in and earn. So 492 00:26:57,680 --> 00:27:01,200 Speaker 7: that's our vision The question is get when I come 493 00:27:01,240 --> 00:27:03,439 Speaker 7: to these interviews is what do arrive in today? I 494 00:27:03,560 --> 00:27:07,600 Speaker 7: arrived in a Corolla, in my dad's Corolla, which has 495 00:27:07,600 --> 00:27:09,760 Speaker 7: allowed me to take over and put on the platform 496 00:27:09,840 --> 00:27:14,320 Speaker 7: as one of our trials for the economy Yeah, economy segment. 497 00:27:14,560 --> 00:27:18,240 Speaker 2: Yeah, you have an understanding, Dad, But it's also incredibly 498 00:27:18,320 --> 00:27:21,240 Speaker 2: sensible because it's the kind of car that just you know, 499 00:27:21,359 --> 00:27:24,800 Speaker 2: goes and goes and goes. So a couple of questions. 500 00:27:24,800 --> 00:27:27,920 Speaker 2: I mean, firstly, so I have a car, I'm thinking, okay, 501 00:27:27,920 --> 00:27:30,560 Speaker 2: I'm going to rent it out. How do I know 502 00:27:30,760 --> 00:27:32,800 Speaker 2: for certain temperates? Coming back to me? 503 00:27:33,640 --> 00:27:38,520 Speaker 7: Great question? So what the differentiator is? So my background, 504 00:27:38,520 --> 00:27:41,200 Speaker 7: I'm an engineer by qualification. I did a similat during 505 00:27:41,280 --> 00:27:45,680 Speaker 7: degree Adverts where I met the co founder Leg Mabala, 506 00:27:45,800 --> 00:27:49,720 Speaker 7: who was studying the software engineering he went on with 507 00:27:49,800 --> 00:27:50,320 Speaker 7: his career. 508 00:27:50,320 --> 00:27:51,600 Speaker 2: You worked for Naked Insurance. 509 00:27:51,640 --> 00:27:54,199 Speaker 7: It was the first day of hire there, so you 510 00:27:54,240 --> 00:27:56,920 Speaker 7: built the decision trees that allow them to do insurance 511 00:27:56,960 --> 00:27:58,240 Speaker 7: in ninety seconds. 512 00:27:58,800 --> 00:27:59,200 Speaker 2: Together. 513 00:27:59,320 --> 00:28:01,600 Speaker 7: We then met after I'd moved on worked at Bold, 514 00:28:01,600 --> 00:28:04,959 Speaker 7: and we brought those two expertise together. So currently we 515 00:28:05,040 --> 00:28:08,400 Speaker 7: confidently say that our voting system is way stronger than 516 00:28:08,400 --> 00:28:10,800 Speaker 7: what you do when you hire a car from the competitors, 517 00:28:11,160 --> 00:28:13,880 Speaker 7: because our vating system is built of the ehaling background, 518 00:28:13,920 --> 00:28:16,520 Speaker 7: which is two strangers getting into a car together, so 519 00:28:17,000 --> 00:28:20,639 Speaker 7: naturally the level of security is way higher. So this 520 00:28:20,840 --> 00:28:25,480 Speaker 7: involved your ID, running your idea against the government database, 521 00:28:25,560 --> 00:28:29,840 Speaker 7: running biometric selfiees against that ID, checking your credit score, 522 00:28:30,320 --> 00:28:33,040 Speaker 7: checking your affordability that if something does happen, you can 523 00:28:33,080 --> 00:28:37,560 Speaker 7: afford to bring back that car. And so luckily or unluckily, 524 00:28:38,000 --> 00:28:42,520 Speaker 7: our issues have not really been around the identity verification aspect. 525 00:28:42,720 --> 00:28:45,560 Speaker 7: They've been more around people keeping cars longer than they should, 526 00:28:45,880 --> 00:28:50,680 Speaker 7: bring the cars back without fuel when they should. And yeah, 527 00:28:50,840 --> 00:28:53,520 Speaker 7: mainly it's those type of issues which we've also sort 528 00:28:53,520 --> 00:28:59,200 Speaker 7: of de risked the traditional market has duris. That's through 529 00:28:59,280 --> 00:29:02,800 Speaker 7: just playing the we've seen that deposits are even another 530 00:29:03,280 --> 00:29:06,360 Speaker 7: barrier to entery in the market, and we've innovated through 531 00:29:06,400 --> 00:29:10,280 Speaker 7: the deposits as well, created something called deposit waivers where 532 00:29:10,640 --> 00:29:12,560 Speaker 7: you can so if you're going to Cape Town and 533 00:29:12,560 --> 00:29:15,640 Speaker 7: you want to hire our more high end vehicles like 534 00:29:15,640 --> 00:29:18,160 Speaker 7: an R eight, you might find a deposit is thirty 535 00:29:18,200 --> 00:29:20,080 Speaker 7: six thousand rand. But you want to spend that with 536 00:29:20,160 --> 00:29:24,400 Speaker 7: your family. So with the deposit waiver, we we do 537 00:29:24,600 --> 00:29:27,719 Speaker 7: a fifteen percent of the deposit non refundable, so the 538 00:29:27,720 --> 00:29:30,400 Speaker 7: thirty six thousand round would be refundable. Fifteen percent is 539 00:29:30,440 --> 00:29:32,800 Speaker 7: non refundable, which allows you to keep more cash flow 540 00:29:32,840 --> 00:29:35,520 Speaker 7: for your trip. But you don't forgot the responsibility. If 541 00:29:35,520 --> 00:29:38,520 Speaker 7: something does happen, our partner does. The waivers will then 542 00:29:38,560 --> 00:29:40,680 Speaker 7: collect from you, but they pay us out the full amount. 543 00:29:40,880 --> 00:29:43,240 Speaker 7: So it's sort of those innovations that differentiate us from 544 00:29:43,240 --> 00:29:46,080 Speaker 7: what's been happening in the industry before. And it's all 545 00:29:46,240 --> 00:29:47,720 Speaker 7: like I said, it's all taken labeled. 546 00:29:48,640 --> 00:29:51,320 Speaker 2: It must be so interesting to have people who say, well, 547 00:29:51,320 --> 00:29:54,520 Speaker 2: actually I'm going to rent an RS eight or I mean, 548 00:29:54,560 --> 00:29:56,160 Speaker 2: I don't know if you have a Bentley on your book, 549 00:29:56,200 --> 00:29:59,000 Speaker 2: so somehow, I mean, I've been in the back of 550 00:29:59,040 --> 00:30:01,800 Speaker 2: a Bentley once someone else was driving and I was scared. 551 00:30:03,560 --> 00:30:06,520 Speaker 2: I mean, I mean it must feel for the people 552 00:30:06,520 --> 00:30:10,000 Speaker 2: who are renting it. This an incredible sense of I 553 00:30:10,040 --> 00:30:12,520 Speaker 2: don't know, I've made it all. It's a special moment 554 00:30:12,560 --> 00:30:13,400 Speaker 2: that you put it like that. 555 00:30:14,760 --> 00:30:17,920 Speaker 7: Yes, we do, especially you know with a metric film market, 556 00:30:17,960 --> 00:30:18,720 Speaker 7: it's a big market. 557 00:30:18,720 --> 00:30:19,040 Speaker 2: For us. 558 00:30:19,080 --> 00:30:21,280 Speaker 7: So you find a father that rents a car, drives 559 00:30:21,320 --> 00:30:23,400 Speaker 7: it himself, it's not his usual car, is making it 560 00:30:23,440 --> 00:30:26,920 Speaker 7: special for his son or daughter. But a bulk of 561 00:30:26,920 --> 00:30:29,760 Speaker 7: our market is people that maintain their lifestyle. So we 562 00:30:29,880 --> 00:30:33,840 Speaker 7: have people that used to ship their cars to Cape 563 00:30:33,880 --> 00:30:36,720 Speaker 7: Town on holiday because the rental companies there would tell 564 00:30:36,760 --> 00:30:38,720 Speaker 7: them we'll ever mesce these for you. Then you get there, 565 00:30:38,720 --> 00:30:40,600 Speaker 7: they're like, oh, we don't have it anymore, so they 566 00:30:40,720 --> 00:30:43,520 Speaker 7: keep their own cars. But now you can actually rent 567 00:30:43,600 --> 00:30:45,440 Speaker 7: the exact car you want and know you'll find the 568 00:30:45,520 --> 00:30:48,080 Speaker 7: car there. Last week where the guy wou rented an 569 00:30:48,080 --> 00:30:50,120 Speaker 7: empty in Cape Town and he came back and he 570 00:30:50,200 --> 00:30:52,400 Speaker 7: listed his MP to enjoy work and said, I just 571 00:30:52,560 --> 00:30:54,800 Speaker 7: wanted my car in Cape Town. I saw it works, 572 00:30:55,120 --> 00:30:58,040 Speaker 7: I'm going to list my car. So it's something that 573 00:30:58,080 --> 00:31:01,880 Speaker 7: we see is sort of changing the landscape of mobility access. 574 00:31:02,320 --> 00:31:06,400 Speaker 7: Right now, we're in advanced conversations with BID to do 575 00:31:06,480 --> 00:31:09,240 Speaker 7: extended test drives for them. So you know how usually. 576 00:31:08,920 --> 00:31:11,000 Speaker 2: Buy a car, you go to the get everyone electric. 577 00:31:12,080 --> 00:31:16,080 Speaker 7: With the fuel prices, people are actually much more looking 578 00:31:16,120 --> 00:31:19,120 Speaker 7: at that as an option. But what we see together 579 00:31:19,160 --> 00:31:21,960 Speaker 7: with BID in these conversations is that Hey, when people 580 00:31:22,000 --> 00:31:24,400 Speaker 7: are thinking of getting a car, ten minutes around the 581 00:31:24,440 --> 00:31:26,720 Speaker 7: corner is usually not enough to convince them they want 582 00:31:26,760 --> 00:31:29,080 Speaker 7: to take it home, spend time with their family, and 583 00:31:29,200 --> 00:31:35,160 Speaker 7: specifically with the EV and the new electrically new energy vehicles, 584 00:31:35,320 --> 00:31:37,400 Speaker 7: what people really want to know is will their range 585 00:31:37,480 --> 00:31:40,080 Speaker 7: get me to work get back. So we've come up 586 00:31:40,120 --> 00:31:42,560 Speaker 7: with this thing where you can do a paid extended 587 00:31:42,600 --> 00:31:44,440 Speaker 7: test drive. So render car for a weekend, take it 588 00:31:44,440 --> 00:31:47,160 Speaker 7: out with friends, and decide if you actually want it. 589 00:31:47,600 --> 00:31:50,800 Speaker 7: And we believe that's actually the future of like vehicle access. 590 00:31:52,080 --> 00:31:54,320 Speaker 7: The six year access is over, guys. 591 00:31:55,120 --> 00:31:58,800 Speaker 2: So I mean years ago, I remember articles in places 592 00:31:58,840 --> 00:32:02,880 Speaker 2: like The Economists saying and the idea of having a 593 00:32:02,920 --> 00:32:06,280 Speaker 2: car and using one car. So I have a relatively 594 00:32:06,320 --> 00:32:08,880 Speaker 2: big car because we go camping, but it's stupid. It's 595 00:32:08,920 --> 00:32:11,200 Speaker 2: silly that that's also the car that takes that I 596 00:32:11,360 --> 00:32:12,680 Speaker 2: drive to and from work. But I'm not going to 597 00:32:12,720 --> 00:32:16,080 Speaker 2: buy another car. So I mean, this gets people around that, 598 00:32:16,160 --> 00:32:18,360 Speaker 2: and you're looking at a situation where people might not 599 00:32:18,520 --> 00:32:19,280 Speaker 2: ever own. 600 00:32:19,040 --> 00:32:21,800 Speaker 7: A car and re present that is the future and 601 00:32:22,280 --> 00:32:25,360 Speaker 7: not theoretically. So what we think about every day is 602 00:32:25,360 --> 00:32:28,080 Speaker 7: what does the future look like? Who's investing in that future. 603 00:32:28,800 --> 00:32:31,720 Speaker 7: The future looks like self driving cars, and that's where 604 00:32:31,720 --> 00:32:34,640 Speaker 7: the investment is going in the AI because people are 605 00:32:34,680 --> 00:32:38,520 Speaker 7: seen with the rise of Uber that the mobility market 606 00:32:38,600 --> 00:32:42,920 Speaker 7: is so lucrative. But the problem is the driver takes 607 00:32:43,000 --> 00:32:44,760 Speaker 7: up the bub the cost, so they're trying to get 608 00:32:44,760 --> 00:32:47,280 Speaker 7: the driver out. And when we look at it, people 609 00:32:47,320 --> 00:32:49,200 Speaker 7: are going to own cars and put them into the 610 00:32:49,240 --> 00:32:52,640 Speaker 7: monetization system, which is what we are building towards. 611 00:32:52,680 --> 00:32:53,720 Speaker 2: And people are only. 612 00:32:53,560 --> 00:32:56,000 Speaker 7: Going to catch on as like we say, they break 613 00:32:56,040 --> 00:32:57,400 Speaker 7: the commitment to their cars. 614 00:32:57,720 --> 00:32:59,920 Speaker 2: Temper has been great to meet you. Thank you so much. 615 00:33:00,240 --> 00:33:03,400 Speaker 2: Temper and Gamerti. The car, the service. The car. The 616 00:33:03,480 --> 00:33:06,479 Speaker 2: service is called car sher Nova. He is the co 617 00:33:06,560 --> 00:33:08,080 Speaker 2: founder Tember. Thanks for coming. 618 00:33:07,880 --> 00:33:15,480 Speaker 3: In taking your calls on one one eight, three seven two. 619 00:33:16,480 --> 00:33:18,840 Speaker 2: Well time now for the Friday bus Blitz. You know 620 00:33:18,880 --> 00:33:21,000 Speaker 2: how it works. You call us on O double one 621 00:33:21,040 --> 00:33:23,880 Speaker 2: double A three oh seven O two two one four 622 00:33:23,880 --> 00:33:26,479 Speaker 2: four six five six seven. I ask you a question. 623 00:33:26,880 --> 00:33:29,520 Speaker 2: If you get it right, we move on to the 624 00:33:29,560 --> 00:33:32,720 Speaker 2: next question. If you get it wrong, we move on 625 00:33:32,840 --> 00:33:35,080 Speaker 2: to the next caller. Here we go, first question on 626 00:33:35,120 --> 00:33:39,520 Speaker 2: the Friday bus Blitz this week South Africans. We love 627 00:33:39,760 --> 00:33:43,480 Speaker 2: our rewards cards in the last year, which is the 628 00:33:43,480 --> 00:33:46,800 Speaker 2: one we've used the most? Which of the rewards cards 629 00:33:47,240 --> 00:33:48,440 Speaker 2: have we used the most? 630 00:33:48,480 --> 00:33:48,640 Speaker 5: Oh? 631 00:33:48,640 --> 00:33:50,600 Speaker 2: Double one double a three oh seven, oh two O 632 00:33:50,760 --> 00:33:53,600 Speaker 2: two one four, four, six, five, six seven. 633 00:33:55,880 --> 00:33:58,600 Speaker 5: The Money Show Stephen Flutters is brought to you by 634 00:33:58,680 --> 00:34:03,240 Speaker 5: absa Islamic business bank celebrating twenty years of banking rooted 635 00:34:03,320 --> 00:34:03,960 Speaker 5: in values. 636 00:34:04,320 --> 00:34:05,960 Speaker 1: Apps as are registered FSP. 637 00:34:08,080 --> 00:34:12,759 Speaker 2: The Money Show Friday businesss question on the Friday, let's 638 00:34:12,800 --> 00:34:15,360 Speaker 2: South Africans, we love our rewards cards? Which ones do 639 00:34:15,400 --> 00:34:16,320 Speaker 2: we use the most? 640 00:34:16,360 --> 00:34:16,520 Speaker 5: Oh? 641 00:34:16,520 --> 00:34:19,680 Speaker 2: Double one double a three seven O two two one 642 00:34:19,760 --> 00:34:22,520 Speaker 2: four four six, five six seven. Let's start in sorch 643 00:34:22,680 --> 00:34:24,399 Speaker 2: goove tonight. Let lie? 644 00:34:24,560 --> 00:34:31,480 Speaker 6: Hi, I still you mentioned three of them. I'll take listening. 645 00:34:31,719 --> 00:34:32,560 Speaker 6: I think you slip. 646 00:34:34,080 --> 00:34:39,400 Speaker 2: Oh, let lie, You're so nearly right, but you aren't. 647 00:34:39,520 --> 00:34:43,399 Speaker 2: I'm sorry. Fasel in houton which is the rewards card 648 00:34:43,440 --> 00:34:55,040 Speaker 2: we use the most? I've fasel, it's not. I'm afraid. 649 00:34:55,560 --> 00:34:59,000 Speaker 2: I'm sorry. Hey, Oh double one double a three oh seven, 650 00:34:59,040 --> 00:35:02,359 Speaker 2: O two O two one four four, six, five six seven. 651 00:35:02,400 --> 00:35:06,319 Speaker 2: The answer will not surprise you in the slightest when 652 00:35:06,320 --> 00:35:09,040 Speaker 2: you think about it. Which is the rewards card that 653 00:35:09,120 --> 00:35:12,400 Speaker 2: we use the most as South Africans according to the 654 00:35:12,520 --> 00:35:15,160 Speaker 2: latest research two years ago. If you had said it 655 00:35:15,200 --> 00:35:18,439 Speaker 2: was clicks, you would have been right. But which one 656 00:35:18,680 --> 00:35:19,279 Speaker 2: is it now? 657 00:35:19,920 --> 00:35:20,480 Speaker 5: Now? Oh? 658 00:35:20,520 --> 00:35:23,080 Speaker 2: Double one double A three oh seven two two one 659 00:35:23,120 --> 00:35:27,279 Speaker 2: four six five six seven. Which rewards card do we 660 00:35:27,440 --> 00:35:30,120 Speaker 2: use the most? THET in Centurion High. 661 00:35:30,960 --> 00:35:31,640 Speaker 4: Hi, how you do? 662 00:35:31,800 --> 00:35:34,279 Speaker 2: I'm well go for it. 663 00:35:34,280 --> 00:35:37,080 Speaker 6: It's card Theita. 664 00:35:37,160 --> 00:35:41,000 Speaker 2: You are correct? Yes, okay. Second question on the Friday 665 00:35:41,000 --> 00:35:44,919 Speaker 2: bis Blitz, which struggling a mega shopping mall in joe 666 00:35:44,920 --> 00:35:48,520 Speaker 2: Burg used to have a terrible reputation but is now 667 00:35:48,520 --> 00:35:52,640 Speaker 2: making a comeback and today reported that it's football. Number 668 00:35:52,680 --> 00:35:55,480 Speaker 2: of people going through it was up twenty percent over 669 00:35:55,480 --> 00:35:58,320 Speaker 2: the last year. Which big joe Berg mall is making 670 00:35:58,360 --> 00:36:05,279 Speaker 2: a comeback? Theeit four ways Sita. You are correct, it 671 00:36:05,400 --> 00:36:08,440 Speaker 2: is four ways, four ways more. Okay, here we go. 672 00:36:08,640 --> 00:36:13,680 Speaker 2: Next question. Google and YouTube have been hit with damages 673 00:36:13,760 --> 00:36:18,440 Speaker 2: in California. What were they found liable for? What were 674 00:36:18,480 --> 00:36:18,919 Speaker 2: they doing? 675 00:36:23,600 --> 00:36:23,840 Speaker 5: Are you? 676 00:36:23,880 --> 00:36:26,840 Speaker 2: Are you a parent? Sita? 677 00:36:28,080 --> 00:36:28,160 Speaker 3: No? 678 00:36:28,320 --> 00:36:31,200 Speaker 2: I don't know that. All right, Thank you, Sita, I 679 00:36:31,239 --> 00:36:35,360 Speaker 2: appreciate it to me. In mid Rand, Google and YouTube 680 00:36:35,520 --> 00:36:38,000 Speaker 2: they've lost a court case in California. What were they 681 00:36:38,000 --> 00:36:39,040 Speaker 2: found liable for? 682 00:36:40,960 --> 00:36:41,960 Speaker 6: Is it the use of. 683 00:36:41,960 --> 00:36:44,800 Speaker 7: Social media by miners? 684 00:36:45,440 --> 00:36:49,160 Speaker 2: To me, I think we're close enough. Yes, it's social 685 00:36:49,200 --> 00:36:53,080 Speaker 2: media addiction, but it was it was youngsters. Okay, last 686 00:36:53,120 --> 00:36:55,480 Speaker 2: question on the Fridays. Let's to me. Here we go 687 00:36:56,040 --> 00:37:00,400 Speaker 2: in the US. Whose signature is now going to beyond 688 00:37:00,400 --> 00:37:03,879 Speaker 2: dollar bills? They paper money? Whose signature is now going 689 00:37:03,920 --> 00:37:05,920 Speaker 2: to be on it? Don't know? 690 00:37:06,080 --> 00:37:20,359 Speaker 8: Charm Timmy, you're a winner. 691 00:37:20,400 --> 00:37:21,840 Speaker 2: You're at the money show at seven o'clock.