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

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Speaker 1: oh two. Let's walk little. The Money Show with Stephen

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Speaker 1: Crutis has brought to you by abs of corporate and

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Speaker 1: investment Banking, a Pan African bank that's invested in your

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Speaker 1: story because your story matters. Good evening, Welcome to the program.

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Speaker 1: I'm Stephen Curtis. Ten minutes after six the time, a

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Speaker 1: daymarked by such volatility, and I heard the words of

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Speaker 1: the World Gold Council ringing in my ears. You may

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Speaker 1: recall this time last night they were telling us that

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Speaker 1: they expected a lot more volatility and metal prices, and

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Speaker 1: so it showed gold losing ten percent of its value

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Speaker 1: on the day, still trading. Of course, there's still lots

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Speaker 1: of time for change, and a lot of it's sparked

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Speaker 1: by the first sort of leaking, the hint, then the

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Speaker 1: confirmation that the US President Donald Trump was appointing it

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Speaker 1: was appointing Kevin Walsh as the or nominating him as

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Speaker 1: the new chair of the US Federal Reserve to replace

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Speaker 1: their Jerome Powell. Very interesting to see the US market

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Speaker 1: reaction to that not as bad as you might have thought, Partly,

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Speaker 1: I think because Walsh has not seen as much of

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Speaker 1: a radical figure as some of the other people who

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Speaker 1: Trump was sort of looking at actually were. So I

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Speaker 1: think that's a big part of this, and sort of

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Speaker 1: where we are and why we're actually here at the moment.

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Speaker 1: I think that's a big part of this. Would you

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Speaker 1: to speak to Rudy Dix, the head of Operation volland Leila.

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Speaker 1: In just a few moments there's been a big report

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Speaker 1: back from him about what's happening at Operation Villan Leila,

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Speaker 1: how things are going, where the work, the new work

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Speaker 1: needs to be done, very interested in what the next

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Speaker 1: phase of it will be as well. Luis del Moore

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Speaker 1: is an economist for Africa the Middle East at Alliance Trade,

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Speaker 1: where it is difficult to get your debts paid and

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Speaker 1: certainly South Africa is one of those. So we'll hear

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Speaker 1: from him as to why that is the business of

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Speaker 1: parking a car at an airport. And I mean, you know,

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Speaker 1: for years I haven't tried to park a car there myself.

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Speaker 1: There's so many services now, so much cheaper than others.

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Speaker 1: We'll speak to the Kreme de la creme if you

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Speaker 1: like of that. We'll speak to first class parking. It's

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Speaker 1: not just about parking, it's all the other additional services

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Speaker 1: as well. Since you were Chares, he's the founder of

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Speaker 1: First Class Parking. Looking forward to meeting her and speaking

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Speaker 1: to her a little later on the program, and then

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Speaker 1: don't forget of course, we'll have the Friday bis Blitz.

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Speaker 1: I'll be very interested in your worst parking experience ever?

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Speaker 1: And where was it? I can think of some shopping centers,

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Speaker 1: but that some places just have the world's worst parking

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Speaker 1: and it's designed like that. You can see that's just

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Speaker 1: never going to improve. Other places just the way it's

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Speaker 1: managed is pretty terrible. So yeah, looking forward to all

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Speaker 1: of those conversations. But your worst parking experience please on

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Speaker 1: seven two seven oh two one seven oh two. Good

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Speaker 1: to hear from you as well. This evening on Double one,

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Speaker 1: double A three seven oh two two one four four

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Speaker 1: six five six seven twelve minutes after six they show

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Speaker 1: with Stephen on ninety two point seven and one six

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Speaker 1: FM streaming on the Prime Media Plus.

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Speaker 2: NAP and DStv channel eight five six and one.

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Speaker 1: Of the questions to ask around Operation volland Laila at

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Speaker 1: the moment is particularly around the issues to do with ESCUM,

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Speaker 1: because there suddenly is a lot of controversy around whether

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Speaker 1: there is in fact going to be a proper splitting

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Speaker 1: of ESKIM into three different parts, and there's some controversy

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Speaker 1: around that. I'm hoping we'll get a little bit of

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Speaker 1: clarity on that on The Money Show tonight stream. That's

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Speaker 1: on The Money Show six to eight pm. Well, Operation

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Speaker 1: volland Laila reporting today that around forty seven percent of

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Speaker 1: their reform actions are currently on track, around forty percent

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Speaker 1: of delayed or off track. One particular reform has been

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Speaker 1: properly completed. Rudy Dix is the head of Operation voland Laila.

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Speaker 1: You've heard so much about it on this particular program. Rudy,

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Speaker 1: good evening, Good to talk to you again. I suppose

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Speaker 1: probably the biggest difference Operation volland Laila has made to

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Speaker 1: South Africa since it started is the work it did

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Speaker 1: with others in helping to end load shedding. But behind

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Speaker 1: the scenes, our electricity market is changing dramatically. Some of

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Speaker 1: it has already changed, but there's still a lot more

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Speaker 1: to do. Really, Dicks, are you with us?

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Speaker 3: Are you sorry about that? Steven?

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Speaker 1: Sorry?

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Speaker 3: Yes, a little bit disconnected?

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Speaker 1: Ye, I'm sorry about that, not at all. I was

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Speaker 1: asking how much there is still to do with the

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Speaker 1: changes that you're making in the electricity market.

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Speaker 3: Of course there are quite a bit of changes, but

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Speaker 3: we made some significant progress because ultimately what we want

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Speaker 3: to do is move towards a competitive market that requires

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Speaker 3: for us to do a whole series of things. For example,

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Speaker 3: in this year we'll be launching for South African wholes

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Speaker 3: an electricity market first and internal and then of course

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Speaker 3: trading externally, and that's the important thing about that. Around

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Speaker 3: that also, of course some of the more important parts

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Speaker 3: is significant unbinding or the restruction of SCOM and the

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Speaker 3: complete separation of transmission to create that a competitive market.

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Speaker 3: Last year we were able to get cred access rules

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Speaker 3: sorted out by NURSA and that's an important step to

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Speaker 3: allow for private sector to be clear on how they

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Speaker 3: deal with curing rules they get access to grid. But

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Speaker 3: more importantly, the National Transmission Company of South Africa was

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Speaker 3: awarded a traders operating operator's license you know as a

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Speaker 3: National Transmission company or South Africa. So these are important

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Speaker 3: steps and hopefully in this year we'll work towards setting

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Speaker 3: up that market, creating competition and of course in the

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Speaker 3: long run being able to create deep electricity for consumers

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Speaker 3: and for businesses alike.

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Speaker 1: I mean it seems to me there's a bit of

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Speaker 1: a dispute now about how ESKIM is being broken up.

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Speaker 1: It's supposed to be broken up into three separate parts.

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Speaker 1: They're supposed to be a very neutral kind of system

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Speaker 1: operator who will buy electricity.

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Speaker 4: Some of the.

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Speaker 1: Skim's funders we heard this week are not happy with

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Speaker 1: the current plan. Is that going to delay proper reform?

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Speaker 1: It looks a bit like it is to me.

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Speaker 3: Really, No, it's not a dispute, Stephen. I think it's

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Speaker 3: important that we've got to think through how one deals

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Speaker 3: today's press conference. You got to you've got to find

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Speaker 3: a mechanism to deal with some of the financial financial risk.

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Speaker 3: Separating these entities impacts on balance sheets, and we've got

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Speaker 3: to be fairly clear we don't want to create balance

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Speaker 3: sheet risk on separate entities and on the generational is

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Speaker 3: come holder. So we've got to work through these details.

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Speaker 3: And that's why I think it's important that someone are

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Speaker 3: saying that, well, some of us delay. Well, it's quite complex, right,

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Speaker 3: I mean, this is the thing we've never done these

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Speaker 3: things before. We've learned from from other countries. But you know,

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Speaker 3: you've got to death monitoring conditions tank in place, you've

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Speaker 3: got to do unbundling. We've been able to secure electricity.

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Speaker 3: It's rather the ability to get through some complex technical

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Speaker 3: aspects and for us to be able to ensure that

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Speaker 3: we don't pass on any risks to the sovereign or

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Speaker 3: to the on the National treasure or the government. And

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Speaker 3: so we've got to get through it. And I think

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Speaker 3: this is the most important part. I don't think it's

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Speaker 3: as I think the deadholders and many of the business

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Speaker 3: colleagues have raised the issues in relation to ensuring that

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Speaker 3: they're one full unbundling. That is the reform program that

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Speaker 3: we set out, and that's important for us to be

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Speaker 3: able to continue and ensure that we manage all outstanding risk.

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Speaker 1: We've seen some improvements that transnit the Richard Bay coal

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Speaker 1: terminal reporting this week high volumes last year as a

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Speaker 1: result of the improvements. What do you think the next

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Speaker 1: priority is there? I mean, the big change is that

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Speaker 1: the ports and on the actual railway lines at the.

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Speaker 3: Moment, absolutely, I mean, I think just importantly, you remember

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Speaker 3: this big dispute between the ording of a contact at

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Speaker 3: Durbin Container PIA Terminal two. That legal matter has been settled.

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Speaker 3: They have now formed a new COO remembered fifty one

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Speaker 3: percent transit forty nine percent but controlling management share of ICTSI,

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Speaker 3: the Filipino company. It is now called Durban Gateway Terminal.

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Speaker 3: So this newco has been established from the first of January,

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Speaker 3: we're going to see some improvements and investments in the

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Speaker 3: operational performance. It's east of the largest contained terminal on Africa,

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Speaker 3: largest number of volumes and that's an important part. Steps

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Speaker 3: in the rail reform are important. Also, you had seen

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Speaker 3: that we'd issued an RFI or request for information. The

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Speaker 3: Minister has made it fairly clear that she wants to

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Speaker 3: move as quickly as possible to go to market to

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Speaker 3: three to see whether we could get PSPs. If we

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Speaker 3: successfully implement the PSP for Urban Container Terminal, and it

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Speaker 3: looks like we've been able to get on a good footing,

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Speaker 3: I think it's important that we do go to market

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Speaker 3: for some of the other larger corridors to be able

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Speaker 3: to get private sectory investment. Ultimately that is improving the efficiency.

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Speaker 3: She set a target of two hundred and fifty million times.

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Speaker 3: We sort of now at stabilizing we got somewhere between

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Speaker 3: two sixty five and two seventy. Hopefully we can push

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Speaker 3: it slightly more towards the end of the financial year.

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Speaker 3: But a substantial amount of investment in bringing the network

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Speaker 3: up to speed, ensuring that we do the maintenance and

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Speaker 3: captics is going to be important and that has to

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Speaker 3: be built and kicked in to how we deal with

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Speaker 3: the PSPs and private sector operators. The one other plus

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Speaker 3: I think Stephen is that you know, we finally are

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Speaker 3: located seven slots to forty sorry, forty one slots to

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Speaker 3: seven operators thus far that were shortlisted, and that's quite

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Speaker 3: an important way. They will start you know open access

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Speaker 3: and actually running volumes in the next year or so.

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Speaker 3: That's an important open access private sector competing with TFR.

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Speaker 3: That's what we want to see and that's going to

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Speaker 3: be quite critical. Of course, the reform of separating again

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Speaker 3: very similar to SCOM. We've got to take infrastructure and

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Speaker 3: operations out because ultimately the infrastructure manager was going to

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Speaker 3: manage the infrastructure. Have to allow for you know, a

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Speaker 3: level playing field where the t TFR and private operators

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Speaker 3: in the same way, and that's an important part and

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Speaker 3: step stores that are going forward.

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Speaker 1: I mean, really, so many people are talking about their

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Speaker 1: optimism for our economy this year, a lot of that

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Speaker 1: because of Operation Foral and Leader and the work you've

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Speaker 1: been doing there. Where for you is the next big

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Speaker 1: area of reform. What do you think is the sort

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Speaker 1: of key thing to do in twenty twenty six local government?

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Speaker 3: Stephen. I think that's the major thing we've got to

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Speaker 3: fix local government. We've got to work really hard. It

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Speaker 3: is the most complex reform that we've been able to

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Speaker 3: look at. But I think the sort of headway that

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Speaker 3: you've made, particularly on the trading services and the incentive

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Speaker 3: and the ring fencing. The Octor Department is about to

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Speaker 3: publish the white Paper on Policy Changes on Local Government

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Speaker 3: that basically says, look, we've done this thing for the

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Speaker 3: past twenty five years. We've got to think about how

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Speaker 3: we improve inter government relations and stuff like that, and

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Speaker 3: then the sort of interventions that are going to be

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Speaker 3: imported around service delivery. But ultimately, I think that is

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Speaker 3: where it matters. You and I live in the city

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Speaker 3: where there's been failing services. Many attempts to try and

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Speaker 3: address this, but we've got to move towards improving the

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Speaker 3: service delivery, and that's what it is. We've got to

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Speaker 3: also finish this year. We've got to finish the reform

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Speaker 3: for electricity, because electricity. If we don't deal with the

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Speaker 3: reforms and ensure that the energies of images of cure

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Speaker 3: competition and we give an indication of clearly how we

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Speaker 3: bring down the price and the cost of electricity, then

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Speaker 3: I think these are particular potential at us that again

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Speaker 3: would impact on investor sentiment and investment going forward.

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Speaker 1: Really, Dex, thank you for your time tonight. Really to

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Speaker 1: appreciate it. Head of Operation Willndela on The Money Show.

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Speaker 5: The Money Show.

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Speaker 1: I'm sure that at some point in your life you've

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Speaker 1: had to phone someone or send them an email and

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Speaker 1: demand that they pay you the money they owe you.

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Speaker 1: Collecting debts can be already frustrating and irritating business. Are

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Speaker 1: the Arms Trade releasing numbers this week showing South Africa

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Speaker 1: is actually one of the more difficult countries in the

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Speaker 1: world in which to collect your unpaid invoices. Louis delmo Is,

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Speaker 1: the economist for Africa and Middle East at Alliance Trade.

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Speaker 1: Lowis good evening. How difficult does it collect in South

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Speaker 1: Africa compared to what happens in other countries.

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Speaker 5: Yes, Look, South Africa is among the countries, especially in

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Speaker 5: emerging markets, that is harder to collect debt. I think

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Speaker 5: what's interesting is that this report that we've been doing

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Speaker 5: over the last ten to twelve years, what we've seen

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Speaker 5: is that many emergent markets have actually been improving in

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Speaker 5: the way they can collect their AdPT but it's not

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Speaker 5: the case for South Africa. South Africa actually for the

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Speaker 5: last ten years that we've been doing this report continues

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Speaker 5: with the same score, so we see a lot of

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Speaker 5: improvement still needed when it comes down to debt collection

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Speaker 5: in the country.

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Speaker 1: Sure, what makes it so difficult? I mean, what's happening

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Speaker 1: here that makes it so hard?

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Speaker 5: Yes, So we look at different aspects of how to

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Speaker 5: collect debt. Within them, we look at the pile and practices.

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Speaker 5: We look also at local courts procedures and also at

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Speaker 5: local insolvency procedures. So we're actually looking at a range

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Speaker 5: of different aspects of that go beyond the South African economy.

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Speaker 5: It also goes into the legal aspects of South Africa.

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Speaker 5: It goes into some technicalities and so when all this

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Speaker 5: is combined it's when it shows us that actually South

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Speaker 5: Africa is it's still tricky to make those collections. However,

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Speaker 5: for instance, if we compare it to other emergency markets,

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Speaker 5: to China, it's still a bit easier in South Africa

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Speaker 5: to do so compared to China. So it also depends

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Speaker 5: on what countries you compare it to.

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Speaker 1: I mean, I was interested to see that. So we

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Speaker 1: have endless conversations in South Africa about how long it

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Speaker 1: takes government to pay invoices to service providers. Does government

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Speaker 1: set a tone in a way, not just in South

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Speaker 1: Africa but in other places. What government does that's set

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Speaker 1: the tone for what companies.

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Speaker 5: Do, definitely, because the government in any economy is one

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Speaker 5: of the largest players. And so a lot of companies

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Speaker 5: in South Africa, for instance, in the construction that are

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Speaker 5: working in new infrastructure, in infrastructure being built in the country,

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Speaker 5: are actually dependent on receiving that money from the government.

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Speaker 5: And so the amount of time that it takes the

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Speaker 5: government to pay for instance, construction firms, it's the amount

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Speaker 5: of time that it's going to take a firm to

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Speaker 5: maybe be able to pay its own employees or to

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Speaker 5: pay some other aspects or some other providers that they

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Speaker 5: need to take that infrastructure to put that infrastructure in place.

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Speaker 1: You talk about all of the countries that you do

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Speaker 1: this survey, and you've been doing it for a long time.

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Speaker 1: Which countries have improved and how have they done it?

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Speaker 5: Yes, we see, for instance, a lot of improvement in

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Speaker 5: countries for instance, that are currently not in a very

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Speaker 5: good place, for instance in the Gulf and also in Asia.

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Speaker 5: And basically the way that this has happened at the

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Speaker 5: end is is through a lot of different changes within

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Speaker 5: their legal structures in the way they have set up,

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Speaker 5: for instance, insolvency laws. And so it's not just it's

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Speaker 5: not just a quick fix. It actually takes time. It

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Speaker 5: normally also takes some laws being passed in parliament, so

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Speaker 5: it also takes political consensus. So that's why it's a

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Speaker 5: long process. But we do see that this can happen

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Speaker 5: if there is political will to do so.

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Speaker 1: Do you see a link between how quickly an economy

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Speaker 1: grows and how difficult it is to to get your

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Speaker 1: debts paid? I mean, I would think if I were

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Speaker 1: running a company, the more quickly I get the money

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Speaker 1: that is legally owed to me, the more quickly I

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Speaker 1: can do other work, and that might be evidence of

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Speaker 1: an economy that's in a good place.

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Speaker 5: Yes, definitely, there's definitely an impact on that sense. However,

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Speaker 5: it also has to be said that for an economy

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Speaker 5: to grow, it takes so many other things. For instance,

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Speaker 5: in the ranking, what we see these year, some of

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Speaker 5: the economies that are growing the most, for instance, the UEI,

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Speaker 5: the United Arab Emirates in the Gulf, it's one of

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Speaker 5: the countries that is going to have one of the

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Speaker 5: most successful growth in twenty twenty six. But also it

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Speaker 5: comes up as one of the countries with more difficulties

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Speaker 5: for debt collection. And why is that Well, because the

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Speaker 5: ue for instance, has not that type of legal structure

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Speaker 5: that you would expect for such a country developing in

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Speaker 5: the way it's developing. So I would say, yes, there's

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Speaker 5: links because of course being able to collecturate debts helps

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Speaker 5: adding company, but there's also other aspects related.

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Speaker 1: I was interested in your finding about China because I

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Speaker 1: think we see China, you know, South Africa, we see

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Speaker 1: China visually a biggest trading partner, but also a country

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Speaker 1: with an economy that's been growing strongly for such a

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Speaker 1: long time. I mean, we all know the story as

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Speaker 1: to why. And yet from what you say, it's very

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Speaker 1: difficult to get your debts paid there.

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Speaker 5: Yes, and actually and actually in the case of China,

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Speaker 5: it's not the overall score that it's worse than South Africa,

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Speaker 5: as I said before, but in some technicalities within the score.

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Speaker 5: And why is that relevance for South Africa, as you said,

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Speaker 5: because China is the first market for South African companies,

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Speaker 5: and then when South African exporters go out in the

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Speaker 5: world and go and sell to China, they have to

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Speaker 5: know that they're going to face difficulties. Why well, because

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Speaker 5: the structure of the legal procedures is also complicated there.

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Speaker 5: Because also, for instance, the day sales outstanding are also

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Speaker 5: pretty high and actually higher than South Africa, and so

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Speaker 5: there's a lot of complications. Having said that, for companies

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Speaker 5: that are already exporting to China, this is nothing new.

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Speaker 5: This stuff that they already face on a day to

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Speaker 5: day basis. For new companies, it's something that they have

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Speaker 5: to take into account. And I think this is relevant

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Speaker 5: because in the current context of trade war, in the

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Speaker 5: current context of fragmentation between the US and its partners,

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Speaker 5: with now the high terriffs that South African explorers are

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Speaker 5: facing to enter the US. South African explorers are going

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Speaker 5: to need to diversify if actually they want to keep

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Speaker 5: growing and selling to other markets and be competitive. And

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Speaker 5: so now these explorers that used to go to the

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Speaker 5: US and now might go to China, they also have

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Speaker 5: to know that they're also going to find difficulties. The

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Speaker 5: fact that China is growing at around five percent per

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Speaker 5: year or even a little less easier, they have to

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Speaker 5: know that difficulties still exist.

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Speaker 1: Let me del move, thanks so much. Economists for African

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Speaker 1: and Middle East at Alians trade the Money Show. Danny

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Speaker 1: Duplin is the head of business development at More Infinity.

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Speaker 1: Donny Good evening. I mean, obviously the US Federal Reserve.

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Speaker 1: Kevin Walsh is the person being nominated to chair the

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Speaker 1: US Federal Reserve and take over from the Rome Palmer.

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Speaker 1: So I could still reacting to that. How do you

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Speaker 1: see the appointment.

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Speaker 4: Yes, it's quite interesting, you've believing, Stephen. I think Kevin

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Speaker 4: Walsh was the Federal governor in two thousand and sixty

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Speaker 4: twenty eleven, during the financial crisis and when unemployment hit

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Speaker 4: the ten percent and the economy was in free for wash.

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Speaker 4: Actually fought against aggressive, aggressive stimulus, so he warned about

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Speaker 4: phantom inflation that never showed up, and a lot of

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Speaker 4: economists argue that his caution actually made things worse. Now

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Speaker 4: fast forward to twenty twenty six and Wash has softened.

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Speaker 4: He's a line to Trumps push on lower rates. So

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Speaker 4: the markets are confused which version of you getting the

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Speaker 4: two thousand and eight walk who keeps rates high or

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Speaker 4: the twenty twenty six Dove who's cut aggressively. And of

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Speaker 4: course what this means for gold in the rand, it's

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Speaker 4: going to be a chain reaction with the market price

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Speaker 4: in the FED might not cut rates as much as

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Speaker 4: we thought. US treasury bond suddenly looked more attractive. They're

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Speaker 4: paying four to five percent for safety, So I think

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Speaker 4: very interesting developments for today.

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Speaker 1: I mean, there was so much volatility, gold prices going

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Speaker 1: from five thousand, five hundred yesterday to five thousand, so

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Speaker 1: losing ten percent in a day, as silver falling again

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Speaker 1: below one hundred dollars, and then platinum losing Where did

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Speaker 1: they go I think was two eight hundred to around

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Speaker 1: two thousand, two hundred at one point. Was the volatility

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Speaker 1: just because of Wash or was there something else in

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Speaker 1: it do you think.

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Speaker 4: I think it's essentially three things. First profit taking. I

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Speaker 4: mean gold was up eighteen to twenty four percent just

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Speaker 4: in January. It's the best month since the nineteen eighties,

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Speaker 4: and it jumped over fifty percent, so and saw they

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Speaker 4: jumped over fifty percent. I mean, so those parabolic rallies

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Speaker 4: don't last. So second, the Wash announcement and the opportunity

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Speaker 4: cost I described, and then third geopolitical easing, so safe

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Speaker 4: haven demand from US around tension called so the fear

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Speaker 4: premium essentially unwound. But despite today's brutal decline, gold is

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Speaker 4: spare up eighty percent above where it was a year ago.

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Speaker 4: Blattin is straw up one hundred and ninety four percent

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Speaker 4: year on. Saw these still massively higher despite using fifteen

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Speaker 4: percent today, So we're not to turn into twenty twenty

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Speaker 4: four levels. It's just a profit taking after historic run.

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Speaker 4: It's not a fundamental collapse.

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Speaker 1: Okay, And I mean I suppose, just to see how

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Speaker 1: it all pans out, there was private sector growth as well,

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Speaker 1: just another reminder of what's happening in our economy.

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Speaker 4: Yeah, no, exactly, And I mean the j C closed

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Speaker 4: it one hundred and twenty than forty six, so down

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Speaker 4: four point one point five. I mean, that's the worst

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Speaker 4: single day in over a year mining stocks, which were

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Speaker 4: about thirty percent of the index DROs of the client.

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Speaker 4: But if you're a business operating in that ecosystem, suppliers, contractors,

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Speaker 4: professional service firms serving minus today was obviously painful. Board

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Speaker 4: meetings tonight are going to be revising, guiding, stress testing,

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Speaker 4: liquidity checking, covenant headrooms. But here's what's structurally important. While

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Speaker 4: minus crash, other sectors held up surprisingly well. I mean

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Speaker 4: banks likely flat or slightly positive, telecoms, resilient, consumer facing

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Speaker 4: businesses held that divergence is critical, and what it tells

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Speaker 4: me is the JAYS is no longer a pure mining proxy.

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Speaker 4: It's starting to pright in a domestic recovery story. Financials

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Speaker 4: are benefiting from eight point seventy four percent credit growth,

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Speaker 4: the fastest in years. That's banks extending one hundred and

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Speaker 4: thirty two one hundred and forty billion in new loads annually.

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Speaker 4: So businesses are borrowing to expand households of funding purchases

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Speaker 4: or financing purchases, and that confidence shows up in bank

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Speaker 4: earnings and stock prices. So from a capital markets perspective.

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Speaker 4: As you mentioned, this is where we see opportunities emerge.

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Speaker 4: I mean private equity that have been sitting on drive

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Speaker 4: powder and that's a lot of it, with local institution

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Speaker 4: investors now compromising over or comprising over fifty percent of

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Speaker 4: new commitments while looking at today's this location and asking

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Speaker 4: where's the value. Not in the stressed miners necessarily, but

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Speaker 4: in businesses serving domestic demands that got unfairly sold off,

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Speaker 4: in commodity panic, so fintic platforms, logistics, network, essential services,

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Speaker 4: and the capital is there, It's just waiting for a

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Speaker 4: rational entry point.

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Speaker 1: Donni d Dolphin, thanks so much, Really appreciate its head

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Speaker 1: of business development at more infinity of moments after six

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Speaker 1: thirty for the Money Show, The Friday File, The Friday

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Speaker 1: File fourteen minutes to seven the time. You know, for

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Speaker 1: many years, whenever I went to our Tumbo International Airport,

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Speaker 1: I used to dread it. Not because it's an airport

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Speaker 1: and it meant I was leaving home. I was usually

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Speaker 1: quite excited about that. It was because for a long time,

436
00:23:17,960 --> 00:23:20,440
Speaker 1: parking at our Tumba was just a disaster. I mean

437
00:23:20,440 --> 00:23:23,159
Speaker 1: this is years ago. And then I realized there were

438
00:23:23,200 --> 00:23:25,480
Speaker 1: more and more parking services. And they come in all

439
00:23:25,600 --> 00:23:29,240
Speaker 1: sorts of shapes and sizes, and they offer different services.

440
00:23:29,280 --> 00:23:31,200
Speaker 1: But I think the creme de la crem the top,

441
00:23:31,320 --> 00:23:34,000
Speaker 1: not the I don't know, whatever you want to call it,

442
00:23:34,080 --> 00:23:37,280
Speaker 1: must be what's called first class parking at our tumber

443
00:23:37,359 --> 00:23:40,040
Speaker 1: it see only service. I understand where your car's actually

444
00:23:40,040 --> 00:23:43,480
Speaker 1: parked at the airport. Tanjua Chersi's the founder of first

445
00:23:43,520 --> 00:23:46,800
Speaker 1: class parking. She's sitting opposite me now, Tindue. Good evening,

446
00:23:46,840 --> 00:23:48,320
Speaker 1: Thanks for braving the Friday traffic.

447
00:23:48,560 --> 00:23:50,600
Speaker 2: Good evening, and thank you for having me. Greetings to

448
00:23:50,640 --> 00:23:51,320
Speaker 2: your listeners.

449
00:23:51,560 --> 00:23:54,679
Speaker 1: You're providing a service that other people provide in the

450
00:23:54,760 --> 00:23:57,679
Speaker 1: same place. How do you set yourself apart? You do

451
00:23:57,800 --> 00:23:59,560
Speaker 1: you try and do things that other people don't do.

452
00:24:00,480 --> 00:24:03,119
Speaker 2: I love the fact that you mentioned that we are

453
00:24:03,160 --> 00:24:07,040
Speaker 2: the only accredited ACTA parking so which gives us this

454
00:24:07,119 --> 00:24:09,280
Speaker 2: platform of just bragging up out the fact that we

455
00:24:09,359 --> 00:24:12,320
Speaker 2: are the only ones that have parking space within the

456
00:24:12,359 --> 00:24:15,800
Speaker 2: airport premises. So that sets us apart, which makes us

457
00:24:15,840 --> 00:24:19,640
Speaker 2: the most sea provider in this case. If you're leaving

458
00:24:19,680 --> 00:24:21,560
Speaker 2: your car at the airport, you can only find it

459
00:24:21,600 --> 00:24:23,200
Speaker 2: within the airport premises.

460
00:24:23,680 --> 00:24:24,920
Speaker 1: So which saves.

461
00:24:24,600 --> 00:24:27,959
Speaker 2: You your fuel as well as chances of being knocked

462
00:24:28,040 --> 00:24:30,440
Speaker 2: or hit on the road while you're taking your car

463
00:24:30,520 --> 00:24:31,000
Speaker 2: somewhere else.

464
00:24:31,040 --> 00:24:32,400
Speaker 1: But with us, it's just a short.

465
00:24:32,160 --> 00:24:35,560
Speaker 2: Distance where we offer extraordinary services as well.

466
00:24:36,000 --> 00:24:37,639
Speaker 1: I mean some of the things you do. You do

467
00:24:37,760 --> 00:24:40,439
Speaker 1: a cleaning, you do a concierge service. I mean, what

468
00:24:40,480 --> 00:24:42,359
Speaker 1: do people ask you to do with their cars?

469
00:24:42,800 --> 00:24:45,959
Speaker 2: Okay, So the one thing that is most popular we

470
00:24:46,160 --> 00:24:48,920
Speaker 2: have our sister company which is called Scratch More Bilet

471
00:24:49,040 --> 00:24:51,960
Speaker 2: operates at the airport for the past twenty years now,

472
00:24:52,200 --> 00:24:55,240
Speaker 2: which is a panel bitter. So imagine leaving your car

473
00:24:55,320 --> 00:24:57,639
Speaker 2: thinking that you're only parking, but we give you a

474
00:24:57,720 --> 00:25:01,680
Speaker 2: coat for any minor spretches just dance that within the car.

475
00:25:02,119 --> 00:25:03,200
Speaker 1: So that is what we do.

476
00:25:03,400 --> 00:25:06,760
Speaker 2: And the most famous one is the full valet which

477
00:25:06,800 --> 00:25:09,800
Speaker 2: they love the most, where we cleaned the vehicles just

478
00:25:09,840 --> 00:25:12,760
Speaker 2: from the inside and the outside and polish which is

479
00:25:12,800 --> 00:25:15,920
Speaker 2: not commonly done by most car wash services, which also

480
00:25:15,960 --> 00:25:17,840
Speaker 2: can be done within a day if you've just left

481
00:25:17,840 --> 00:25:20,520
Speaker 2: for debin and we're back, so it's just an easy service.

482
00:25:20,680 --> 00:25:24,000
Speaker 2: And one again which they love the most, again which

483
00:25:24,040 --> 00:25:27,520
Speaker 2: is the one way we can buy you groceries at

484
00:25:27,520 --> 00:25:30,360
Speaker 2: one of the shops within the airport, which is a supermarket.

485
00:25:30,480 --> 00:25:32,399
Speaker 2: So you just give us a list via email or

486
00:25:32,400 --> 00:25:34,040
Speaker 2: when you drop off your car and we can get

487
00:25:34,080 --> 00:25:37,239
Speaker 2: you the small just those groceries mini groceries, that's what

488
00:25:37,280 --> 00:25:39,680
Speaker 2: we call. So it gives you the chance to save

489
00:25:39,760 --> 00:25:40,439
Speaker 2: time as well.

490
00:25:40,480 --> 00:25:42,320
Speaker 1: And just be clear, if I'm leaving my car for

491
00:25:42,320 --> 00:25:44,520
Speaker 1: two weeks, you're not buying them on the first day.

492
00:25:44,520 --> 00:25:45,919
Speaker 1: You're buying them on the last.

493
00:25:45,720 --> 00:25:48,440
Speaker 2: Day, right, definitely we are, So we'll just wait as

494
00:25:48,480 --> 00:25:51,040
Speaker 2: pay your instructions again, met, And if you're buying bananas,

495
00:25:51,040 --> 00:25:53,960
Speaker 2: I can't buy your banana today and hope that you

496
00:25:54,040 --> 00:25:56,480
Speaker 2: will be back. So if you're buying yogurts again, I

497
00:25:56,560 --> 00:25:59,159
Speaker 2: have to make sure. So it takes just a knowledge

498
00:25:59,200 --> 00:26:01,000
Speaker 2: as well, what do I need to do in order

499
00:26:01,040 --> 00:26:04,120
Speaker 2: for me to give this exceptional service just from our team,

500
00:26:04,160 --> 00:26:07,240
Speaker 2: which they understand as well as the drivers they like

501
00:26:07,400 --> 00:26:10,359
Speaker 2: offering it, just exceptional service from our front desk as well.

502
00:26:10,520 --> 00:26:13,680
Speaker 2: They just are well and knowledgeable people to work with.

503
00:26:14,240 --> 00:26:15,760
Speaker 1: I think what a lot of people want from a

504
00:26:15,800 --> 00:26:18,080
Speaker 1: service like that is they want two things. They want

505
00:26:18,080 --> 00:26:20,320
Speaker 1: it to be very easy to drop off. They want

506
00:26:20,320 --> 00:26:22,520
Speaker 1: to be able to literally get out of the car

507
00:26:22,840 --> 00:26:25,600
Speaker 1: and into the airport right. And then the one which

508
00:26:25,640 --> 00:26:27,879
Speaker 1: may even be more important than that, because everyone's very

509
00:26:27,880 --> 00:26:30,359
Speaker 1: excited when you're going somewhere, but you come back sometimes

510
00:26:30,440 --> 00:26:33,680
Speaker 1: late at night, you quite died. You want your car

511
00:26:33,760 --> 00:26:36,000
Speaker 1: to be where everyone says it's going to be, and

512
00:26:36,000 --> 00:26:38,119
Speaker 1: you want it to be very easy. How do you

513
00:26:38,160 --> 00:26:40,920
Speaker 1: make sure that actually the cars in the right place

514
00:26:40,920 --> 00:26:41,600
Speaker 1: at the right time.

515
00:26:42,200 --> 00:26:44,640
Speaker 2: So the purpose of the valley, remember, is to get

516
00:26:44,720 --> 00:26:49,480
Speaker 2: every one to find the service as convenient as possible.

517
00:26:49,640 --> 00:26:51,960
Speaker 2: If you drop off your car, I'm situated at Domestic

518
00:26:52,040 --> 00:26:54,480
Speaker 2: departure as the last door of the airport, which gives

519
00:26:54,480 --> 00:26:57,199
Speaker 2: you access to just drop and over your key and

520
00:26:57,240 --> 00:26:59,400
Speaker 2: then check in, so we are closer to the check

521
00:26:59,440 --> 00:27:02,080
Speaker 2: in point again when you come back, we are right

522
00:27:02,119 --> 00:27:05,080
Speaker 2: at level four. As you walk up from the food court,

523
00:27:05,200 --> 00:27:07,680
Speaker 2: there's just a lift that will take you to level four.

524
00:27:07,720 --> 00:27:09,880
Speaker 2: As soon as you walk out, you can find first

525
00:27:09,880 --> 00:27:12,080
Speaker 2: class parking, which gives an opportunity not to look for

526
00:27:12,119 --> 00:27:15,199
Speaker 2: your car. You still don't need to go anywhere after that,

527
00:27:15,320 --> 00:27:18,160
Speaker 2: so just looking for your khakis, we have those. We've

528
00:27:18,200 --> 00:27:20,680
Speaker 2: offered you the service which is just the washingon vacuum

529
00:27:20,800 --> 00:27:23,199
Speaker 2: or the full valet and imagine getting your crossreis you

530
00:27:23,200 --> 00:27:25,399
Speaker 2: don't need to pass by the supermarket.

531
00:27:24,840 --> 00:27:28,320
Speaker 1: After I saw a rumor somewhere that you actually do

532
00:27:28,480 --> 00:27:29,960
Speaker 1: laundry as well. Is that true?

533
00:27:30,200 --> 00:27:30,360
Speaker 4: Oh?

534
00:27:30,440 --> 00:27:33,399
Speaker 2: Yes, So we used to operate a dry clean service.

535
00:27:33,520 --> 00:27:36,480
Speaker 2: So if somebody would need us to do our shoe

536
00:27:36,560 --> 00:27:39,119
Speaker 2: repairs as well as a dry clean service, one can

537
00:27:39,240 --> 00:27:42,560
Speaker 2: leave their comments where we can send it to a

538
00:27:42,600 --> 00:27:45,800
Speaker 2: well known or just an impeccable drive cling service, which

539
00:27:45,880 --> 00:27:47,600
Speaker 2: by the time when you come back, you have your

540
00:27:47,680 --> 00:27:50,159
Speaker 2: laundry or your trycling hanging by your vehicle.

541
00:27:50,760 --> 00:27:53,560
Speaker 1: What kind of people are using your service? So I

542
00:27:53,600 --> 00:27:56,040
Speaker 1: mean is it Joe Berg as you you know, spending

543
00:27:56,040 --> 00:27:57,879
Speaker 1: a weekend in Cape Town or is it people who

544
00:27:57,880 --> 00:27:59,280
Speaker 1: are spending two weeks in Paris.

545
00:28:00,880 --> 00:28:03,560
Speaker 2: Yes, So with that, let me just quickly clear. So

546
00:28:03,640 --> 00:28:06,080
Speaker 2: our service provide for short term and long term parking.

547
00:28:06,359 --> 00:28:08,679
Speaker 2: I have clients that have companies that are based in

548
00:28:08,720 --> 00:28:11,639
Speaker 2: Deurban and Gay Town, so they would leave their cars

549
00:28:11,680 --> 00:28:14,720
Speaker 2: with me to safekeep for a whole month. So they're

550
00:28:14,760 --> 00:28:17,880
Speaker 2: only paying for that option where their executives are coming

551
00:28:17,880 --> 00:28:20,080
Speaker 2: to Joe back. They don't need to hire a vehicle,

552
00:28:20,240 --> 00:28:22,320
Speaker 2: which most people do not know about that service. So

553
00:28:22,600 --> 00:28:25,359
Speaker 2: I keep your car while you are away. Whenever that

554
00:28:25,440 --> 00:28:27,199
Speaker 2: you are in joe Back, you just as to have

555
00:28:27,240 --> 00:28:29,639
Speaker 2: your vehicle. It's ready for you. And then most of

556
00:28:29,680 --> 00:28:33,280
Speaker 2: our clients are based from travel agencies, travel agencies that

557
00:28:33,400 --> 00:28:37,200
Speaker 2: work with most I have government entities. I have corporate clients,

558
00:28:37,400 --> 00:28:40,560
Speaker 2: which are your law firms and any other So anyone

559
00:28:40,600 --> 00:28:43,120
Speaker 2: that has an option to say I need access to

560
00:28:43,120 --> 00:28:47,080
Speaker 2: make bookings online, then you can prepay and make parking,

561
00:28:47,320 --> 00:28:51,160
Speaker 2: which is as easier as accessing the booking portal, make

562
00:28:51,200 --> 00:28:52,560
Speaker 2: a booking, get a confirmation.

563
00:28:53,000 --> 00:28:53,920
Speaker 1: After checkout, you.

564
00:28:53,880 --> 00:28:56,440
Speaker 2: Get an invoice which is sent to you automatically, which

565
00:28:56,480 --> 00:28:59,560
Speaker 2: saves you from the accounts department as well as procurement.

566
00:29:00,560 --> 00:29:02,680
Speaker 1: I mean, do you find that most of the cars

567
00:29:02,760 --> 00:29:04,280
Speaker 1: I mean, are they staying there for a month, are

568
00:29:04,280 --> 00:29:06,240
Speaker 1: they staying there for two days? I mean a lot

569
00:29:06,280 --> 00:29:08,800
Speaker 1: of people will do from Joeberg to Durban and back again,

570
00:29:08,880 --> 00:29:11,560
Speaker 1: or Cape Town and back again in a day. Imagine

571
00:29:11,560 --> 00:29:14,200
Speaker 1: that's quite that'll keep you people quite busy because each

572
00:29:14,280 --> 00:29:16,960
Speaker 1: time there's a movement and someone needs to move the car.

573
00:29:17,680 --> 00:29:21,440
Speaker 2: Yes, that's very common. So if we have our government

574
00:29:21,600 --> 00:29:24,040
Speaker 2: entities utilizing our services. Those are the people that are

575
00:29:24,040 --> 00:29:26,960
Speaker 2: going to Parliament. So more activity is happening in Cape Town.

576
00:29:26,960 --> 00:29:29,280
Speaker 2: That means more business for us. And people that are

577
00:29:29,280 --> 00:29:31,880
Speaker 2: going on vacation for short term and long term they

578
00:29:31,880 --> 00:29:34,360
Speaker 2: can keep their vehicles. So the nice part is if

579
00:29:34,360 --> 00:29:36,760
Speaker 2: you park your car longer, that's how you obtain a

580
00:29:36,800 --> 00:29:39,600
Speaker 2: discount compared to parking for short days. So if you

581
00:29:39,720 --> 00:29:41,640
Speaker 2: park for a day that's going to be like two

582
00:29:42,000 --> 00:29:44,680
Speaker 2: and twenty four, it discounted great. And if you're parking

583
00:29:44,720 --> 00:29:47,800
Speaker 2: more days, that's how you're gonna end more at discounts.

584
00:29:49,600 --> 00:29:51,920
Speaker 1: Do you have big phases in your business? I mean,

585
00:29:51,920 --> 00:29:54,480
Speaker 1: obviously there'll be holiday times and other times, but are

586
00:29:54,520 --> 00:29:56,920
Speaker 1: there particular patterns that you've noticed over the years.

587
00:29:57,200 --> 00:29:58,480
Speaker 2: Oh, yes, definitely.

588
00:29:58,560 --> 00:29:59,960
Speaker 1: So like we just got back.

589
00:29:59,800 --> 00:30:02,760
Speaker 2: From December, we have people that have parked from the

590
00:30:02,920 --> 00:30:05,560
Speaker 2: fifteenth or the sixteen when they're traveling with their families

591
00:30:05,800 --> 00:30:08,160
Speaker 2: and they only got back from the second of January

592
00:30:08,320 --> 00:30:11,720
Speaker 2: just to start off at work. Same for any other

593
00:30:11,800 --> 00:30:14,880
Speaker 2: person that is going just for a short time. So

594
00:30:14,960 --> 00:30:17,240
Speaker 2: we are able to accommodate anyone that can leave a

595
00:30:17,320 --> 00:30:19,080
Speaker 2: vehicle for two weeks. A person that can leave a

596
00:30:19,200 --> 00:30:21,440
Speaker 2: vehicle for just a day and still come back in

597
00:30:21,440 --> 00:30:22,120
Speaker 2: the afternoon.

598
00:30:23,640 --> 00:30:26,080
Speaker 1: But do you see that, you know, is there a

599
00:30:26,080 --> 00:30:28,520
Speaker 1: particular time of year that's quieter than the others. I

600
00:30:28,560 --> 00:30:31,640
Speaker 1: don't know, maybe the middle of September or something. I mean,

601
00:30:31,680 --> 00:30:33,920
Speaker 1: on one level, there are always people traveling through an airport

602
00:30:34,000 --> 00:30:36,440
Speaker 1: like our chamber. But there must certainly be times that

603
00:30:36,480 --> 00:30:39,320
Speaker 1: are very busy every year, and sometimes it may be

604
00:30:39,560 --> 00:30:40,960
Speaker 1: just on ever really that busy.

605
00:30:41,160 --> 00:30:44,200
Speaker 2: So funny that you mentioned September that's actually our busiest time.

606
00:30:44,200 --> 00:30:46,080
Speaker 2: I don't know if it's the travel mine, yes, it is,

607
00:30:46,280 --> 00:30:48,880
Speaker 2: so everyone is trying to catch up between September, October

608
00:30:48,920 --> 00:30:51,040
Speaker 2: and November. From that time, that's when they're trying to

609
00:30:51,040 --> 00:30:53,840
Speaker 2: wrap up their businesses. And then right now it's January,

610
00:30:53,880 --> 00:30:58,440
Speaker 2: everybody's still taking before the school closes, everybody would be

611
00:30:58,560 --> 00:31:01,440
Speaker 2: quiet and then time will pick up. So I know

612
00:31:01,520 --> 00:31:04,040
Speaker 2: with the June holidays that the longest time people take

613
00:31:04,080 --> 00:31:06,520
Speaker 2: their families away, so we don't have people that are

614
00:31:06,560 --> 00:31:10,240
Speaker 2: traveling for business, so it is just a seasonal. But

615
00:31:10,800 --> 00:31:14,760
Speaker 2: whenever there is an open opportunity, everything gets so hexica

616
00:31:14,760 --> 00:31:17,400
Speaker 2: and busy, which keeps us going Tanjinia.

617
00:31:17,400 --> 00:31:19,200
Speaker 1: Thanks so much for coming in. I really appreciate it.

618
00:31:19,280 --> 00:31:22,880
Speaker 1: Sia Cheresi is the founder of first Class Parking on

619
00:31:23,080 --> 00:31:30,280
Speaker 1: Friday File step taking your calls on one, one, eight, three, seven, two,

620
00:31:30,480 --> 00:31:32,680
Speaker 1: five minutes to seven on the Money Show. Time for

621
00:31:32,720 --> 00:31:36,280
Speaker 1: the Friday Bus Blitz. First question, you know you know

622
00:31:36,320 --> 00:31:38,640
Speaker 1: how this works on the Friday bus. Let's we put

623
00:31:38,640 --> 00:31:41,200
Speaker 1: out a question. If you get it right, you call us.

624
00:31:41,240 --> 00:31:43,480
Speaker 1: If you get it right, we move on to the

625
00:31:43,480 --> 00:31:45,280
Speaker 1: next question. If you get it wrong, we move on

626
00:31:45,360 --> 00:31:47,520
Speaker 1: to the next caller. Oh, double one double A three

627
00:31:47,600 --> 00:31:50,320
Speaker 1: oh seven, O two two one four four six O

628
00:31:50,480 --> 00:31:53,600
Speaker 1: five six seven voice notes don't count. I'm afraid. First

629
00:31:53,720 --> 00:31:57,360
Speaker 1: question on the Friday bis Blitz tonight? What level did

630
00:31:57,440 --> 00:32:00,840
Speaker 1: gold pass on Monday? Was A three? One thousand dollars,

631
00:32:01,160 --> 00:32:05,920
Speaker 1: five thousand dollars or six thousand dollars? Announce? First question

632
00:32:06,000 --> 00:32:09,600
Speaker 1: on the Friday Busblitz. What level did gold pass on Monday?

633
00:32:09,800 --> 00:32:13,160
Speaker 1: Was it three thousand dollars, five thousand dollars or six

634
00:32:13,240 --> 00:32:19,880
Speaker 1: thousand dollars? Announce the Money Show Friday Busines list. First

635
00:32:19,920 --> 00:32:23,040
Speaker 1: question on the Friday Busbltz tonight? What level did gold

636
00:32:23,120 --> 00:32:23,920
Speaker 1: pass on Monday?

637
00:32:24,000 --> 00:32:24,040
Speaker 5: Was?

638
00:32:24,080 --> 00:32:27,920
Speaker 1: It three thousand dollars, five thousand dollars or six thousand dollars.

639
00:32:27,960 --> 00:32:30,800
Speaker 1: Announce so double one double a three oh seven two

640
00:32:30,800 --> 00:32:34,040
Speaker 1: two one four four six five sixty seven, Selma on

641
00:32:34,080 --> 00:32:35,440
Speaker 1: the line from Ridwood.

642
00:32:35,080 --> 00:32:39,200
Speaker 5: Hi, Hi, good evening. The answer five thousand.

643
00:32:39,440 --> 00:32:43,479
Speaker 1: Of course it's five thousand, Selma. Yes you are correct, Okay,

644
00:32:43,680 --> 00:32:47,920
Speaker 1: thank you. Second question on the Friday busblitz, which too

645
00:32:48,520 --> 00:32:53,640
Speaker 1: major economies signed a landmark prede agreement this week aimed

646
00:32:53,640 --> 00:32:57,200
Speaker 1: at slashing tariffs on most goods, which for both of

647
00:32:57,240 --> 00:33:00,600
Speaker 1: them will reduce their alliance on the US and China,

648
00:33:00,720 --> 00:33:04,560
Speaker 1: which two major economies signed a massive trade agreement this week.

649
00:33:04,640 --> 00:33:07,560
Speaker 3: Summon, Well, funny enough.

650
00:33:07,880 --> 00:33:10,840
Speaker 4: I thought it was China and Britain, but maybe it wasn't.

651
00:33:11,160 --> 00:33:16,720
Speaker 1: No, all right, sorry, he's Elma. Let's go to shoshanguve

652
00:33:16,920 --> 00:33:20,880
Speaker 1: shall we let lie? Let lie high which to major

653
00:33:20,920 --> 00:33:23,160
Speaker 1: economy signed a massive trade deal this week.

654
00:33:25,120 --> 00:33:26,680
Speaker 4: Uh if now.

655
00:33:28,120 --> 00:33:31,360
Speaker 3: I think of China.

656
00:33:30,840 --> 00:33:35,280
Speaker 1: And so it's not China and South Africa. I'm afraid.

657
00:33:35,800 --> 00:33:38,920
Speaker 1: Let lie. I'll give you all a hint. It's not China,

658
00:33:38,960 --> 00:33:43,080
Speaker 1: it's not the US. Mohammad in pretoria, Mohammed, Hi, do

659
00:33:43,120 --> 00:33:49,480
Speaker 1: you know the answer, yeah, I is it India and Europe? Muhammad,

660
00:33:49,760 --> 00:33:54,560
Speaker 1: you are correct, it is the EU and Europe. Okay.

661
00:33:54,800 --> 00:34:00,000
Speaker 1: Next question, ESCAM has asked NURSA to approve interim electricity

662
00:34:00,160 --> 00:34:04,760
Speaker 1: tariffs for two companies to help rescue smelters. Do you

663
00:34:04,880 --> 00:34:07,600
Speaker 1: know the name of at least one of the companies.

664
00:34:12,120 --> 00:34:14,320
Speaker 1: There's a tough question. I could have made it tougher,

665
00:34:14,360 --> 00:34:16,360
Speaker 1: but one of the companies that's going to get tariff

666
00:34:16,400 --> 00:34:25,759
Speaker 1: relief one of them, O Mohammed, but it is ben

667
00:34:30,000 --> 00:34:35,680
Speaker 1: No ma'ham. It's not the CDs Benz but very good. Okay.

668
00:34:36,960 --> 00:34:38,560
Speaker 1: I think I'm probably gonna have to give you the

669
00:34:38,600 --> 00:34:41,959
Speaker 1: answer to this one. The two companies are Saman Poor

670
00:34:42,200 --> 00:34:44,920
Speaker 1: and Glen paw Mara. It's seven o'