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Speaker 1: And now The Money Show.

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Speaker 2: With Stephen Cribbit on seven oh two.

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Speaker 1: Let's walk litt all. The Money Show with Stephen Crotus

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Speaker 1: is brought to you by Abscess cib proud host of

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Speaker 1: the Africa Impact Matters series podcast. Abster is an authorized

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Speaker 1: FSP and registered credit provided nine minutes after six Good evening,

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Speaker 1: Welcome to the program. Plenty to come tonight. In fact,

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Speaker 1: iskam just releasing their results in the last sort of

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Speaker 1: hour or so. Their interim results will speak to Colored Custom,

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Speaker 1: the chief financial officer there in just a moment's spoiler alert.

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Speaker 1: They seem to be pretty good, certainly, lots of momentum

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Speaker 1: behind Eskim. I've been, I've been. I've found the issue

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Speaker 1: around fuel and aviation fascinating, so many different things coming

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Speaker 1: out of it, and now there seems to be a

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Speaker 1: series of stars reviews and that's having an impact on

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Speaker 1: actual availability. I find that quite bizarre. You would think

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Speaker 1: that this is the kind of thing that can be

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Speaker 1: managed years in advance. Everyone knows when the paperworkers do

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Speaker 1: how it all works. Instead, there are some concerns actually

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Speaker 1: at East London Airport simply won't have enough. I realized

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Speaker 1: that the way in which you store fuel has to

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Speaker 1: be managed very carefully. Everything has to be managed, but

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Speaker 1: it's still a very strange story. We'll speak to Sheldon Kopman.

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Speaker 1: He is the founder and creative director of the fashion

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Speaker 1: line that Gord Naked Ape, and it's particularly luxury clothing.

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Speaker 1: We're talking about shirts that cost seven thousand round. That

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Speaker 1: kind of thing, just a different way of looking at life,

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Speaker 1: I think, and as the kind of a shirt that

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Speaker 1: you would wear for a very special event, and you

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Speaker 1: would wear it for lots of special events over the years.

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Speaker 1: One of the questions I do want to ask, though,

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Speaker 1: is are they aimed at a particular age demographic? I mean,

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Speaker 1: for iware one it would be for younger people. I mean,

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Speaker 1: looking at the pictures, I think maybe younger people. But

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Speaker 1: we'll find out as we go. Looking forward to that conversation.

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Speaker 1: Good to hear from you tonight. I would love to

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Speaker 1: know how your Black Friday went. Didn't go very well

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Speaker 1: for F and B by the looks of it, they

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Speaker 1: had quite a few glitches. Other banks are absent discovery

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Speaker 1: or reporting much higher transaction numbers than usual. It's quite interesting.

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Speaker 1: I remember in the nineteen nineties my first job ever

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Speaker 1: that was sort of not working for my dad was

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Speaker 1: actually in a shopping mall, and it was a shopping

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Speaker 1: mall sort of on the border between joe Burg and Ekrolani.

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Speaker 1: And if you know that area, you know exactly which

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Speaker 1: one I'm talking about. And they used to always say

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Speaker 1: the two busiest shopping days were Christmas Eve and yeah

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Speaker 1: in the shop I worked in, you felt that, And

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Speaker 1: the other one was the Saturday before Christmas. How different

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Speaker 1: is it now that is Black Friday today. It's so

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Speaker 1: interesting how that's happened. And it's just marketing. There's nothing else, nothing,

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Speaker 1: you know, the sun still is in the sky at

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Speaker 1: the same time, nothing's changed, and yet the busiest shopping

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Speaker 1: day of the year is actually today. Just a reminder

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Speaker 1: tomorrow morning, maybe even now, go and just check your

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Speaker 1: bank account. Make sure that no one used the huge

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Speaker 1: transactions the number of transactions to actually defraud you or

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Speaker 1: steal from you your Black Friday shopping expedition. Please your

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Speaker 1: story oh seven two seven oh two one seven oh

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Speaker 1: two and call us on double one, double A three

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Speaker 1: seven two and two one four four six o five

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Speaker 1: six seven. Don't forget the Friday bis Blitz. In about

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Speaker 1: half an hour.

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Speaker 2: The Lonely Show with Stephen Krutis live on ninety two

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Speaker 2: point seven and one six FM, streaming on the Prime

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Speaker 2: Media Plus.

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Speaker 1: NAP and DStv channel eight five six twelve. After sex Well,

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Speaker 1: Eskim reporting another strong set of interim results for the

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Speaker 1: six months to the end of September. It maiden after

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Speaker 1: tax profit of over forty over twenty four billion Rand.

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Speaker 1: That's up by thirty seven percent. It grew revenue by

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Speaker 1: four percent. It did have a reduction in sales volumes.

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Speaker 1: Calibkassim is the chief financial officer at ESCAM. Clyib. Good evening,

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Speaker 1: I ready appreciate the time you made a profit in

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Speaker 1: the last financial year. You make a profit in this

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Speaker 1: period again, that would indicate that you have a lot

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Speaker 1: of positive momentum behind you.

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Speaker 3: Good evening, Stephen, to you and your listeners. Yes, definitely

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Speaker 3: this is positive. Idding. Also, beginning of this week we

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Speaker 3: see the SMP upgrade for ESCAM. It's really on the

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Speaker 3: back of delivering the turnaround operationally and financially. And you

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Speaker 3: know today, you know, it was the last day of

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Speaker 3: literally their existing board members. A lot of them are leaving.

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Speaker 3: So I think what they've done over the three years

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Speaker 3: has been tremendous.

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Speaker 1: Steven, You've got a tariff increase of twelve percent, but

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Speaker 1: your revenue was only up by four percent. Why is

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Speaker 1: there such a big difference there? And I mean I

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Speaker 1: presume that you sold the electricity during the period and

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Speaker 1: that's responsible.

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Speaker 3: Yeah, definitely. The sales volumes are down, especially domestically on

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Speaker 3: the back I think on some industrials and some big

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Speaker 3: commercial companies. They have challenges in terms of their commodity prices,

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Speaker 3: especially the federal coom industry. That has come down. But Steven,

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Speaker 3: another important factor as well, and we notice is linked

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Speaker 3: to what we don't collect from municipalities. And as you

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Speaker 3: would know, you know, from an accounting perspective, we only

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Speaker 3: can recognize certain of these customers on a cash basis,

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Speaker 3: and we just look at that non collections. You know,

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Speaker 3: that has increased from seven point nine billion loss September

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Speaker 3: twenty four to nine point five, So that's also contributing.

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Speaker 3: But there has been that drop off in domestic sales.

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Speaker 1: I mean, there's no way ESCOM can continue if councils

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Speaker 1: don't pay you what they owe you.

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Speaker 3: Yeah, no, it's unsustainable. And you know September twenty four.

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Speaker 3: Our unique and metro areas was ninety billion. Twelve months

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Speaker 3: down the line were up to one hundred and five

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Speaker 3: billion from the ninety and just from March year end

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Speaker 3: from ninety six to one oh five. Clearly unsustainable. This

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Speaker 3: is the biggest issue were talking about from our sustainability.

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Speaker 3: And then the other one is we need to address

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Speaker 3: what we term the non technical losses. Two elements in

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Speaker 3: that one is the theft and meter tampering and the

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Speaker 3: second one obviously ESCIMP needs to tighten our systems in

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Speaker 3: terms of this online vending system and illegal to and

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Speaker 3: so that's also a pain.

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Speaker 1: At the moment you mentioned the ferrochrome issues. So people

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Speaker 1: have switched off their smells. Is they going to keep

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Speaker 1: them off until electricity prices are low? And I realized

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Speaker 1: that's not in your control, glib Well, largely it's not.

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Speaker 1: There's also more rooftop solar capacity is solar capacity. I mean,

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Speaker 1: the fact so many people generate their own electricity, particularly

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Speaker 1: during the day, is that beginning to have an impact

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Speaker 1: on your sales volumes?

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Speaker 3: I mean it must be no, No, definitely, I mean,

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Speaker 3: you know, if we look at what our system operated,

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Speaker 3: ChEls of Stephens there's about seven point three gigawatts or

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Speaker 3: rooftop TV that definitely takes away sells. But what we

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Speaker 3: do find as well, and that is why the reliability

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Speaker 3: of the system is important now when we've been having

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Speaker 3: this reign for consecutive days, so suddenly ESKHAM must find

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Speaker 3: about anything between five gigawatts at a point in time.

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Speaker 3: But luckily the system on the generation side much more

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Speaker 3: reliable and we're able to do that and keep the

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Speaker 3: lights on.

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Speaker 1: So I mean, isn't this the issue you have smell

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Speaker 1: to customers who are not going to switch back on

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Speaker 1: unless prices get lower, and they won't for some time.

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Speaker 1: You've got a lot more rooftop solar capacity and it

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Speaker 1: would seem to me based on just those two things,

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Speaker 1: your sales volumes might never actually go up again.

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Speaker 3: So definitely in our forecasting going forward, Steven, we do

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Speaker 3: fore costs a decline in sells anything between one to

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Speaker 3: two percent permanently. However, we know on the baseload customers

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Speaker 3: and we must work with the industry, with the regulator

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Speaker 3: and government. Where do you pitch a sustainable industrial tariff

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Speaker 3: not only on a short term but on a long term.

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Speaker 3: And I think the key message behind that is whatever

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Speaker 3: our production cost is for that what those customers need

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Speaker 3: to survive in their market, and if there's a gap,

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Speaker 3: we must decide on how transparent we make whatever subsidy

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Speaker 3: and in what form it's going to take, because we

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Speaker 3: know critically for this country we need to protect jobs

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Speaker 3: as well, so it's important. It's not just an ESCAM issue,

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Speaker 3: but it's a country issue to make sure we don't

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Speaker 3: lose further jobs.

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Speaker 1: The profit that you do make CLIP it comes after

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Speaker 1: quite a lot of help from the National Treasury. And

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Speaker 1: just to be clear, it goes back into your infrastructure, right.

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Speaker 3: One hundred percent, Steven, I mean all our capics is

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Speaker 3: now funded from cash from operations because we're not allowed

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Speaker 3: to borrow during the general leaf window and we forecasting

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Speaker 3: not to borrow in the next eighteen months. So really

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Speaker 3: reinvested into the infrastructure. We can't use it for operating

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Speaker 3: costs of anything else otherwise we breach. So yes, you know,

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Speaker 3: on networks as well as the generation business.

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Speaker 1: Kellybkassimka to talk, thank you very much in d Chief

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Speaker 1: Financial Officer at estimate eighteen minutes after six.

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Speaker 2: The Money Show on seven Monday till Friday, six to

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Speaker 2: a pm.

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Speaker 1: More suggestions today about questions around our aviation fuel system.

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Speaker 1: Jet facilities that supply the King Parlo Airport he needs

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Speaker 1: London have been subject to a licensing review by SARS,

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Speaker 1: Suggestions that because of that there might actually be a

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Speaker 1: shortage of aviation fuel. Lindon Burns is an aviation expert,

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Speaker 1: joins us now, Lindon good Evening, The way I understand

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Speaker 1: it is that SARS has to license these facilities fuel

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Speaker 1: this tax in a particular way. What I don't understand

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Speaker 1: London is why a review by SARS would affect the supplies.

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Speaker 4: So I think Stephen good Evening, there's been a bit

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Speaker 4: of confusional ground East London, but that's just still with

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Speaker 4: the SARS issue. First, what's happened in South Africa over

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Speaker 4: the past or nearly five years now is that largely

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Speaker 4: the production of jet fuel in the country has almost stopped.

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Speaker 4: We've only got one refinery down here in Cape Town,

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Speaker 4: the Astron Refinery, which is still producing jet fuel, but

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Speaker 4: not nearly at the volumes it's used to. The big

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Speaker 4: refinery next to the old Urban airport that closed down,

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Speaker 4: and with the flood damage and also the riot damage,

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Speaker 4: that was done. So we rely very heavily on imported fuels.

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Speaker 4: And what SARS have been doing, from what we can

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Speaker 4: make out, is that they're saying you might have been

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Speaker 4: a fuel producer and licensed and taxed as a fuel

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Speaker 4: producer in the past, now you're in a different category.

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Speaker 4: Now you're a fuel supplier and distributor, and therefore you're

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Speaker 4: subject to a different regime and different rules and you

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Speaker 4: need a different license. And there's been this impasse that

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Speaker 4: it's not been resolved. This has been dragging on for

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Speaker 4: several months. It started when they wanted to impose duties

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Speaker 4: on fuel being shipped up or transported from Durban to

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Speaker 4: Natreth and Dovi of using the multi product pipeline. So

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Speaker 4: this is something that's been going on for a while now.

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Speaker 4: The good news is that there is enough fuel for

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Speaker 4: at least for the weekend at East London. The crisis,

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Speaker 4: the immediate crisis of East London was actually not so

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Speaker 4: much related to the size issue, but because they discovered

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Speaker 4: fuel contamination yesterday that East London. One of the tankers

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Speaker 4: was inspected. Jet fuel has to be inspected every day.

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Speaker 4: The tanks that are stored in have to be inspected.

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Speaker 4: You can't have impurities, it's a safety issue, and they

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Speaker 4: found contaminated fuel, so none of the fuel could be

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Speaker 4: used and they've had to now truck in fuel throughout

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Speaker 4: today to East London and I'm told my last update

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Speaker 4: was about an hour ago and I was told there

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Speaker 4: is now sufficient fuel there. George was impacted by the

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Speaker 4: size issue because Cape Ton had a fuel supply shortage

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Speaker 4: for the last two weeks because of the SARS issue

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Speaker 4: relating to a fuel depot the port of Cape Town

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Speaker 4: which didn't have the requisite license. Apparently now fuel supplies

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Speaker 4: to cape to On Airport resumed this week, but George

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Speaker 4: relies on the same supplier and it was left vulnerable

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Speaker 4: and its stocks had depleted. And the overnight last night

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Speaker 4: there was an emergency truckload or several trucks sent to

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Speaker 4: and that was decantid this morning. So at least over

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Speaker 4: the weekend we can breathe and hopefully this will all

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Speaker 4: get resolved before we head right into the peak summer

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Speaker 4: holiday rush towards the end of next week.

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Speaker 1: I mean, I would imagine that SARS impasse around whether

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Speaker 1: you're a producer or a stoer or a fuel that

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Speaker 1: kind of think can go on forever. I can just

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Speaker 1: imagine the lawyers licking their lips.

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Speaker 4: Yeah, you know, clearly it can. And I think, what

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Speaker 4: is you know what what really is again painful for

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Speaker 4: the airlines here is that they're the ones that face

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Speaker 4: the customers. You know, if they've got a councilor flight

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Speaker 4: or rechedule a flight. You know, the customers don't really care.

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Speaker 4: It's you know, well, I bought a ticket with you.

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Speaker 4: Why you're not getting me where I have to be

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Speaker 4: on time? And the airlines again, this isn't again like

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Speaker 4: the AT and S issue that we spoke about recently.

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Speaker 5: This is a.

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Speaker 4: Problem beyond the airlines making and Frankie, you know, it

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Speaker 4: doesn't help when you've got ax at the airport's company,

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Speaker 4: which is not a fuel supplier, it's not a fuel trader,

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Speaker 4: but it often passes itself off and makes pronouncements to

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Speaker 4: the public suggesting and implying that it is by making

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Speaker 4: statements saying, you know, we've secured fuel supplies or fuel

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Speaker 4: stocks are secure. You know that, Frankly, that's overreach by access.

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Speaker 4: Access role is to manage the infrastructure to store the

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Speaker 4: fuel and make sure it gets from the storage tanks

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Speaker 4: into the airplanes, through through the pipelines and hydrants on.

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Speaker 1: The airfields London Burns. Thank you so much, the aviation

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Speaker 1: expert really appreciate that. Twenty three minutes after.

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Speaker 2: Six on The Money Show six to eight pm.

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Speaker 1: Well, you know how the way in which we trade

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Speaker 1: is changing so quickly. There are a lot more opportunities

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Speaker 1: that also I suppose more problems, and the Money Show

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Speaker 1: is now in conversation with Prime XBT empowering traders to succeed.

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Speaker 1: Clutter is the head of region at Prime XBT Africa.

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Speaker 1: Cickle good evening and markets are moving so quickly. You're

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Speaker 1: in the low fee pricing area. How does that help

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Speaker 1: people engage with market opportunities? How does it help them

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Speaker 1: get in on the action?

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Speaker 5: Look you and hellot to all of your listeners at home,

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Speaker 5: and first you see then, I mean the current volatility

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Speaker 5: that we see across all the different markets is it's

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Speaker 5: definitely creating a significant in today sort of trading opportunities

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Speaker 5: for traders in South Africa. And secondly, obviously Plan Max

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Speaker 5: SPT offers some of the lowest trading fees in South

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Speaker 5: Africa across all different trading instruments. With our VP discounts

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Speaker 5: going up to seventy percent available from day one, and

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Speaker 5: also the local payments that Primate SPT offers obviously make

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Speaker 5: it easier and cheaper to buy and trade bitcoin in

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Speaker 5: other sort of crypto assets compared to what you would

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Speaker 5: call traditional exchanges.

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Speaker 1: You're regulated by the FSCA both for CfDS and for

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Speaker 1: crypto trading. I mean that must be quite important for

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Speaker 1: the safety of your clients, for transparency, and I mean

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Speaker 1: the thing that's central to all of this isn't it

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Speaker 1: it's trust.

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Speaker 6: Most of that you Steve in.

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Speaker 5: I mean, plant expet is regulated by the FSCA, as

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Speaker 5: you have said, for well to provide both CFD trading

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Speaker 5: products and the crypto asset trading here in South Africa.

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Speaker 5: And also the transparency you know is enabled by segregation

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Speaker 5: of funds of client funds as required by the regulator,

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Speaker 5: also a negative balance protection meaning that client balances on

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Speaker 5: their trading accounts will never top below zero and the

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Speaker 5: strict operational standards.

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Speaker 3: You know.

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Speaker 5: We also have a multi award winning platform called p

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Speaker 5: X Trader, which has a global recognition for safety and innovation.

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Speaker 5: And our m here, Steven, is to obviously ensure that

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Speaker 5: we provide a safe, a fair as a professional trading

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Speaker 5: environment for South African traders of all proficiency level. So

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Speaker 5: we don't just focus on on traders who are more experienced,

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Speaker 5: whether you're a beginner, you know, sort of in the

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Speaker 5: mid level or experienced, all our intentions to make sure

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Speaker 5: that you have a very fair and very reliable trading environment.

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Speaker 1: You've seen Primate spet, You've been quite involved in sort

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Speaker 1: of local things, school sponsorship, stuff like that. How are

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Speaker 1: you strengthening your presence across South Africa? I mean you've

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Speaker 1: got to You've got to get through a lot of

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Speaker 1: noise to have an impact, right, How are you finding that?

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Speaker 3: Yeah?

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Speaker 1: Yeah, definitely excuse in.

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Speaker 5: I mean, we like to see ourselves as a very

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Speaker 5: responsible sort of corporatism in this country. So by growing

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Speaker 5: our local presence through CSR partnerships and community support, I

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Speaker 5: mean that's one, and also through active CSR projects with

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Speaker 5: local schools, I mean, through educational initiatives and community development.

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Speaker 5: Also by participating in and sponsoring some local finance events

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Speaker 5: where participants are empowered with financial knowledge to make up

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Speaker 5: way to make better financial and investment decisions. And also

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Speaker 5: through expanding partnerships with key industry stakeholders and the financial

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Speaker 5: services ecosystem here in South Africa, but also across the continent.

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Speaker 1: You're a busy company in a very busy mind. I

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Speaker 1: would imagine you're seeing a lot of growth both in

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Speaker 1: the market and with you yourselves.

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Speaker 5: Almost definitely steven, even though we operate in a very

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Speaker 5: competitive environment. But we have seen some growth since we

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Speaker 5: got our local license and we're looking forward to you

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Speaker 5: know what's in store for us in twenty twenty six

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Speaker 5: with all the interesting products and projects that we have

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Speaker 5: planned for our tree doesen our for community at large?

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Speaker 1: I presume you see a return on your investment, you

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Speaker 1: get involved in the local community and they pay it

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Speaker 1: back almost definitely.

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Speaker 5: I think the ROI with community projects is not obviously

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Speaker 5: sort of commercial or financial, but the benefit that is

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Speaker 5: derived by the communities which we response or support when

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Speaker 5: they give us the report is obviously what we what

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Speaker 5: we do it for.

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Speaker 1: Thanks so much, Head of Region at prime XPT Africa.

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Speaker 1: As an fsca regulated award winning broker, Prime XPT gives

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Speaker 1: you the confidence to trade market volatility your way alway.

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Speaker 1: Some of the lowest trading fees advanced tools across crypto

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Speaker 1: futures and CfDS and VIP discounts of up to seventy

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Speaker 1: percent available to new traders from day one. Take advantage

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Speaker 1: of free deposits and withdrawals with both crypto options and

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Speaker 1: local South African payment methods. Prime expt empowering traders to

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Speaker 1: succeed always trade responsibly. Trading comes with risk. The money

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Speaker 1: show the market the luck. I'm Gunni is chief investment

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Speaker 1: officer BEINGUELA Global fund managers, wel like a good evening.

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Speaker 1: I mean there's a lot of global uncertainty at the moment,

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Speaker 1: and yet once again the JAC seems to be really

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Speaker 1: quite resilient.

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Speaker 7: Indeed, Steven, we have seen that the JC has done

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Speaker 7: very very well this year. I think we are up

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Speaker 7: about thirty six percent compared to a goal markets that

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Speaker 7: are up only about twenty one percent, and amongst those

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Speaker 7: I'm in, the US is up seventeen percent. I think

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Speaker 7: the key thing is we've seen a ten in Awa fundamentals.

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Speaker 7: I think we've seen Astrona land boosted by the a

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Speaker 7: strong export of golden platinum. But we are also seeing

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Speaker 7: that following the mini budget, we've seen lower sovereign credit

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Speaker 7: spreads we are seeing good physcal management, so it does

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Speaker 7: look like our economy has come back into favor. And

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Speaker 7: I think that we are also seeing that inflation might

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Speaker 7: remain under control with a stronger range, so we're likely

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Speaker 7: to see that we will see investors continue to come

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Speaker 7: into the market in the South African market that isn't

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Speaker 7: for quite a long time.

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Speaker 1: It's interesting to see what's changed over the last few months.

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Speaker 1: I mean when Trump came into office, but coin searched,

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Speaker 1: it's tanked or stagnated, to pick one. Oil is volatile,

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Speaker 1: gold search just continues. I mean, this is really quite

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Speaker 1: a strange time. I mean a lot of things happening

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Speaker 1: that are big changes that you would not have predicted.

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Speaker 7: Yeah, I think what it would appear is happening is

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Speaker 7: that the market seems to be pivoting more towards tangible

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Speaker 7: safe heaven us. So we're going to see that gold

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Speaker 7: has held up relatively well. I mean, I think bitcoin

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Speaker 7: is down thirty percent in the last month. Brand is

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Speaker 7: going sideways. But I think the main thing is that

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Speaker 7: there is an element of fear in the market that

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Speaker 7: tends to shing prices fairly quickly in a short space

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Speaker 7: of time. If there is any announcement, so we assumed

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Speaker 7: that also in the AI stocks with the likes of Nvidia,

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Speaker 7: I mean, they put back like five percent in a

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Speaker 7: day on any news, So it is appearing to be

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Speaker 7: a move towards tangible safe up.

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Speaker 1: And then the AI boom, I mean, that was the

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Speaker 1: big driver and has been the big driver of markets

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Speaker 1: over the last few months. I see more and more

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Speaker 1: pieces The Economist has had a big one over the

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Speaker 1: last week suggesting that people just aren't using AI, and

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Speaker 1: I mean I have to say I'm not using it,

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Speaker 1: that that doesn't matter, but companies aren't using it, and

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Speaker 1: that does matter. It's true.

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Speaker 7: I think they they we are still in the early phase.

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Speaker 7: I think it would become quite an endemic application. But

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Speaker 7: I think what has been pries into the stocks is

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Speaker 7: quite something beyond what can be achieved in the short term.

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Speaker 7: I think the care text that they have been spending

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Speaker 7: or they've committed is so high that it would take

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Speaker 7: them years for them together retain on their capital. I

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Speaker 7: think we are seeing a similar wave like what happened

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Speaker 7: during the Internet emergence. With the Internet, when the company

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Speaker 7: is pumped a lot of capital and that they said

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Speaker 7: with low capac utilization that only got utilized over time.

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Speaker 7: So I do think that there is a risk that

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Speaker 7: we might see a massive fullback amongst these stocks. But

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Speaker 7: long term, I think the application itself is a fantastic innovation.

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Speaker 1: The lack I thank you so much for luck. Gune

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Speaker 1: is the chief investment of set Benguela Global Fund managers of.

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Speaker 2: The Lani Show with Stephen Cruter's Life on ninety two

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Speaker 2: point seven and one o sixm streaming on the Primiti.

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Speaker 1: And DStv channel eight five six twenty two minutes now

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Speaker 1: to seventh time. Don't forget the Friday biz Blitz in

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Speaker 1: a few moments, and you know, of course the numbers

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Speaker 1: to dial for that. Just your Black Friday experience. I

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Speaker 1: made the point half an hour ago or so about

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Speaker 1: how the busiest shopping days of the years have changed

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Speaker 1: simply rarely because of Black Friday, gone from Christmas Eve

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Speaker 1: to kind of Black Friday, although you heard analysis yesterday

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Speaker 1: suggesting that it has spread out just a little bit.

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Speaker 1: Very unfortunate for one of the big banks F and

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Speaker 1: B in this case to have a bit of a glitch,

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Speaker 1: and I do wonder if that impacted some of their

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Speaker 1: customers what that meant and what happened. You know, with

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Speaker 1: computer with things like that, with it issues, you never

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Speaker 1: really get to the bottom of it. Or I always

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Speaker 1: feel that you never really know, and I don't know

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Speaker 1: if it'll make them feel any better. But in the

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Speaker 1: US futures markets for the Nasdaq and the Dow Jones

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Speaker 1: had to be suspended early this morning, well sort of

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Speaker 1: lunchtime our time, I suppose, because of a glitch. They

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Speaker 1: did get to the bottom of that. They said there

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Speaker 1: was a heating issue on one of their unit, so

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Speaker 1: imagine something overheated. Although you would expect there to be

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Speaker 1: a backup after a backup after, I don't know a backup,

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Speaker 1: and that did not seem to kick in for quite

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Speaker 1: some time. So some difficulties coming through on Black Friday.

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Speaker 1: The other news I found interesting today tuber losing that

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Speaker 1: courtpit to stop the handover. This is akaia of the

437
00:24:18,640 --> 00:24:21,320
Speaker 1: National Lottery, and I remember making the point to you

438
00:24:21,720 --> 00:24:24,440
Speaker 1: when all of us started. We have set up a

439
00:24:24,520 --> 00:24:28,440
Speaker 1: system where no matter what happens, when one company takes

440
00:24:28,480 --> 00:24:31,000
Speaker 1: over the National Lottery from another, there will be a

441
00:24:31,080 --> 00:24:33,440
Speaker 1: court case. There's got to be another way to do it.

442
00:24:33,560 --> 00:24:36,000
Speaker 1: We're not the only place where this happens, but I

443
00:24:36,200 --> 00:24:38,200
Speaker 1: just find the whole way in which it's managed. I

444
00:24:38,240 --> 00:24:40,600
Speaker 1: don't know if there's time for a rethink. If you did,

445
00:24:40,680 --> 00:24:42,240
Speaker 1: someone would go to court. But there's got to be

446
00:24:42,280 --> 00:24:47,800
Speaker 1: a way to do something. Seven o two. Email him

447
00:24:48,200 --> 00:24:52,119
Speaker 1: on Stephen at seven o two dot co dotz. On

448
00:24:52,240 --> 00:24:55,159
Speaker 1: the Next Money Show, we chat financial results with Discovery

449
00:24:55,320 --> 00:24:58,520
Speaker 1: Life Insurance. We have the comedian of Aafa Nagari on

450
00:24:58,680 --> 00:25:01,000
Speaker 1: how I make my money and a conversation on how

451
00:25:01,080 --> 00:25:04,440
Speaker 1: South Africa retailers are rewriting the rules of play in

452
00:25:04,560 --> 00:25:07,520
Speaker 1: the seven billion rand toy Shakeup. All of that and

453
00:25:07,640 --> 00:25:11,480
Speaker 1: more on your Next Money Show, The show the Friday

454
00:25:11,600 --> 00:25:15,080
Speaker 1: File That's gone according to seven don't forget the Friday

455
00:25:15,200 --> 00:25:18,840
Speaker 1: biz Blitz in a few moments. Well tonight, we're focusing

456
00:25:18,960 --> 00:25:23,080
Speaker 1: on fashion and a particular kind of fashion. It's fashion

457
00:25:23,119 --> 00:25:26,119
Speaker 1: from the house the Naked Ape. Sheldon Kopman is the

458
00:25:26,160 --> 00:25:29,400
Speaker 1: founder and creative director of Naked Ape. Sheldon. Good evening,

459
00:25:29,440 --> 00:25:31,080
Speaker 1: and thanks for taking the time to speak to us

460
00:25:31,119 --> 00:25:34,360
Speaker 1: on a Friday. I have to start, obviously with the name.

461
00:25:34,520 --> 00:25:35,720
Speaker 1: Where did the name come from?

462
00:25:38,119 --> 00:25:40,320
Speaker 6: Hi, good evening, Stephen, and thank you for the opportunity.

463
00:25:42,080 --> 00:25:44,720
Speaker 6: The name came from a very long time ago, and

464
00:25:44,960 --> 00:25:47,560
Speaker 6: it was really taken him from a book that was

465
00:25:47,600 --> 00:25:50,879
Speaker 6: written by Morris called The Naked Ape, And really it

466
00:25:51,040 --> 00:25:56,440
Speaker 6: was the understanding of how man needs to understand his

467
00:25:56,600 --> 00:26:00,639
Speaker 6: primates and be able to respect and everything alike. And

468
00:26:01,400 --> 00:26:03,920
Speaker 6: later on this was at a very young age, of course,

469
00:26:04,000 --> 00:26:08,479
Speaker 6: and later on, you know, it evolved into fashion brand

470
00:26:08,960 --> 00:26:12,320
Speaker 6: being naked Abe and the approach is very much into

471
00:26:12,400 --> 00:26:15,960
Speaker 6: evolutionary wardrobe, meaning that something has to integrate into the

472
00:26:16,000 --> 00:26:19,880
Speaker 6: space that you have available, so buy less way more

473
00:26:20,040 --> 00:26:21,800
Speaker 6: quality over quantity, that.

474
00:26:21,920 --> 00:26:22,359
Speaker 4: Kind of thing.

475
00:26:22,640 --> 00:26:26,359
Speaker 1: MM. So you describe your I don't know. Do you

476
00:26:26,440 --> 00:26:28,240
Speaker 1: call them closed? Do you call it a parel? Do

477
00:26:28,320 --> 00:26:31,680
Speaker 1: you have a classier name that you describe Let me

478
00:26:31,720 --> 00:26:35,440
Speaker 1: say you described ultimately.

479
00:26:35,800 --> 00:26:40,919
Speaker 6: Ultimately it's clothing, Stephen, But apparel is also a derivative thereof,

480
00:26:41,160 --> 00:26:45,520
Speaker 6: and we tend to use the word garments, okay, which

481
00:26:45,680 --> 00:26:48,320
Speaker 6: is a lot more yes, fitting.

482
00:26:48,560 --> 00:26:50,480
Speaker 1: I was going to say, you describe your fashion, because

483
00:26:50,480 --> 00:26:51,879
Speaker 1: that was going to get me out of the problem.

484
00:26:53,080 --> 00:26:59,440
Speaker 1: You describe your garments, you say African inspired, non binary.

485
00:27:00,160 --> 00:27:02,400
Speaker 1: What do you mean by that? And I realized I'm

486
00:27:02,440 --> 00:27:04,359
Speaker 1: asking you to put a look into words, which is

487
00:27:04,440 --> 00:27:07,160
Speaker 1: not an easy thing to do, but you're clearly going

488
00:27:07,240 --> 00:27:09,200
Speaker 1: for a certain consciousness.

489
00:27:11,160 --> 00:27:15,359
Speaker 6: Absolutely, So basically I'll start with the African inspired. I mean,

490
00:27:15,480 --> 00:27:18,720
Speaker 6: everything we do is pretty much inspired by the continent,

491
00:27:19,520 --> 00:27:23,440
Speaker 6: locally produced and sourcing as many textiles as we possibly

492
00:27:23,520 --> 00:27:28,520
Speaker 6: can on the continent before looking abroad. Then it comes

493
00:27:28,600 --> 00:27:32,920
Speaker 6: to the So everything from the inception of the collection,

494
00:27:33,080 --> 00:27:38,080
Speaker 6: whether it be a see that or let's just say

495
00:27:38,119 --> 00:27:41,280
Speaker 6: a berry that grows on a certain tree, is the inspiration.

496
00:27:41,600 --> 00:27:45,880
Speaker 6: And it's all about the Africanism thereof you know, certain language,

497
00:27:45,960 --> 00:27:51,240
Speaker 6: certain understandings of culture and exposing it but using that

498
00:27:51,600 --> 00:27:56,440
Speaker 6: as a creative tool, but not really being how do

499
00:27:56,520 --> 00:27:58,920
Speaker 6: I say, literal about.

500
00:27:58,720 --> 00:28:02,040
Speaker 1: The entire thing, you know, approaching it from an artistic space.

501
00:28:03,080 --> 00:28:05,040
Speaker 6: When it comes to non binary, we in a sense

502
00:28:05,160 --> 00:28:09,040
Speaker 6: right now where you know, we have to consider the

503
00:28:09,119 --> 00:28:13,720
Speaker 6: space of gender fluidity. We living in a different time

504
00:28:14,720 --> 00:28:18,919
Speaker 6: and our youth is morphing into all kinds of wonderful directions.

505
00:28:19,720 --> 00:28:23,119
Speaker 6: And I would say that non binary really is about

506
00:28:23,240 --> 00:28:26,440
Speaker 6: the fact that what she can wear, he can wear

507
00:28:26,680 --> 00:28:29,919
Speaker 6: kind of thing and being able to trade water between

508
00:28:30,560 --> 00:28:35,200
Speaker 6: the opposites. So and also considering everybody else within the

509
00:28:35,280 --> 00:28:41,680
Speaker 6: space that sometimes is completely a gender neutral as well, and.

510
00:28:41,760 --> 00:28:44,200
Speaker 1: I mean, I mean yeah, So it's very interesting to

511
00:28:44,280 --> 00:28:48,200
Speaker 1: see this happen. Your clothes have, Sheldon, I have a

512
00:28:48,360 --> 00:28:52,640
Speaker 1: kind of unique look to them. I'm not a fashionist.

513
00:28:52,880 --> 00:28:55,720
Speaker 1: I'm ashamed to say. You probably know that about me,

514
00:28:56,840 --> 00:28:59,800
Speaker 1: But I spent some commonial side today and if I

515
00:29:00,080 --> 00:29:02,960
Speaker 1: were I don't know, somewhere on Sunday and I bump

516
00:29:03,040 --> 00:29:06,360
Speaker 1: into someone wearing one of your pieces, there's the word pieces,

517
00:29:06,840 --> 00:29:10,920
Speaker 1: and I would probably recognize it almost immediately. And I'm

518
00:29:10,960 --> 00:29:14,160
Speaker 1: not someone I'm not a visual person, so I'm intrigued

519
00:29:14,200 --> 00:29:16,360
Speaker 1: into how you get that particular look.

520
00:29:19,720 --> 00:29:22,800
Speaker 6: You know, in an industry whereby you're always trying to

521
00:29:22,920 --> 00:29:28,320
Speaker 6: create a unique selling proposition within your brand, and we

522
00:29:28,440 --> 00:29:31,240
Speaker 6: are very limited in terms of the resources that we

523
00:29:31,360 --> 00:29:35,800
Speaker 6: have available continentally, so we tend to lean towards the

524
00:29:35,960 --> 00:29:39,480
Speaker 6: more artisanal skills that are available to us within our backyards.

525
00:29:40,120 --> 00:29:43,120
Speaker 6: So it's about harnessing that and taking that into the

526
00:29:43,280 --> 00:29:48,120
Speaker 6: actual construction of your garments. Yes, we do have a

527
00:29:48,240 --> 00:29:51,400
Speaker 6: very distinct look. We are a tailor made and everything

528
00:29:51,480 --> 00:29:54,920
Speaker 6: we do, whether it be attract pants or a pair

529
00:29:54,960 --> 00:29:59,120
Speaker 6: of tights to know the finer suit. We kind of

530
00:29:59,160 --> 00:30:01,760
Speaker 6: have like a certain signature, and we want to specialize

531
00:30:01,840 --> 00:30:06,720
Speaker 6: in producing the best, highest quality of garment we possibly can,

532
00:30:07,320 --> 00:30:12,960
Speaker 6: working within the biodegradable natural fabrics and trying to avoid

533
00:30:13,800 --> 00:30:16,800
Speaker 6: synthetics wherever we can, which is pretty much ninety nine

534
00:30:16,800 --> 00:30:20,400
Speaker 6: percent of very sure. So yeah, the distinctness, I think

535
00:30:20,440 --> 00:30:23,000
Speaker 6: that has worked over time, and like everything you know,

536
00:30:23,240 --> 00:30:25,440
Speaker 6: like when you speak about the evolutionary it's about taking

537
00:30:25,520 --> 00:30:28,000
Speaker 6: something knowing that the pants is a pants and a

538
00:30:28,080 --> 00:30:29,000
Speaker 6: jacket is a jacket.

539
00:30:29,720 --> 00:30:30,760
Speaker 3: But what do we do with it?

540
00:30:31,320 --> 00:30:33,920
Speaker 6: And you know, when you come across a magnificent piece

541
00:30:33,960 --> 00:30:36,400
Speaker 6: of cloth, you know, make the most of it if

542
00:30:36,440 --> 00:30:38,600
Speaker 6: you're going to tailor make it, to do it the

543
00:30:38,680 --> 00:30:39,719
Speaker 6: best you possibly can.

544
00:30:40,840 --> 00:30:44,040
Speaker 1: Does it get harder to keep that particular look as

545
00:30:44,200 --> 00:30:47,920
Speaker 1: your range of products grows broader. So it's fine to

546
00:30:48,040 --> 00:30:51,040
Speaker 1: have one thing, it's slightly harder to have two things

547
00:30:51,120 --> 00:30:54,280
Speaker 1: that look distinctive but clearly related to each other. It's

548
00:30:54,360 --> 00:30:55,800
Speaker 1: much harder to have a hundred.

549
00:30:58,920 --> 00:31:01,680
Speaker 6: You know, all the times over the past fifteen years,

550
00:31:02,720 --> 00:31:05,959
Speaker 6: since the brand was launched in twenty ten, we've basically

551
00:31:06,040 --> 00:31:09,640
Speaker 6: taken the very same silhouettes and we find them as

552
00:31:09,680 --> 00:31:13,520
Speaker 6: we've gone along, we fabricated them and just kept the

553
00:31:13,640 --> 00:31:16,480
Speaker 6: silhouette that works best for our clients that we have

554
00:31:17,480 --> 00:31:21,800
Speaker 6: and it seems to be working very well. So we

555
00:31:21,920 --> 00:31:25,200
Speaker 6: are not the brand that is out there in Avant

556
00:31:25,240 --> 00:31:27,520
Speaker 6: Garden wants to make the statement about this and that

557
00:31:27,640 --> 00:31:29,240
Speaker 6: and make a lot of noise about this and that.

558
00:31:29,920 --> 00:31:33,200
Speaker 6: It's really about what works best for us and what

559
00:31:33,360 --> 00:31:35,280
Speaker 6: we know best and how can we improve on it

560
00:31:35,400 --> 00:31:36,160
Speaker 6: every single time.

561
00:31:37,640 --> 00:31:40,040
Speaker 1: Your pricing is interesting. I mean some of your shirts

562
00:31:40,080 --> 00:31:42,240
Speaker 1: are sort of seven thousand rand, your suits are more

563
00:31:42,320 --> 00:31:46,840
Speaker 1: than that. What do you picture people wearing these clothes for?

564
00:31:47,600 --> 00:31:50,120
Speaker 1: Is it for an occasion? Would it be? I mean,

565
00:31:50,200 --> 00:31:52,680
Speaker 1: I'm the kind of person who would have an occasion shirt.

566
00:31:52,800 --> 00:31:56,920
Speaker 1: But Sheldon, you're probably recoiling in shop. I mean, would

567
00:31:56,960 --> 00:31:59,480
Speaker 1: it be. It's not something you would wear just once.

568
00:32:00,080 --> 00:32:02,560
Speaker 1: You might only wear it once a year, but you'd

569
00:32:02,640 --> 00:32:04,880
Speaker 1: wear it once a year for twenty or thirty years.

570
00:32:07,520 --> 00:32:09,880
Speaker 6: What you might be observing, Stephen, is probably the stuff

571
00:32:09,920 --> 00:32:13,560
Speaker 6: that you see on runway. So as we take an

572
00:32:13,600 --> 00:32:17,800
Speaker 6: eighty twenty approach to the brand and what we put

573
00:32:17,840 --> 00:32:20,880
Speaker 6: out creatively, so twenty percent would be the highest level

574
00:32:20,920 --> 00:32:24,040
Speaker 6: of our creativity at this particular time, and that's pretty

575
00:32:24,120 --> 00:32:27,160
Speaker 6: much the collection that you're seeing online. The eighty percent

576
00:32:27,600 --> 00:32:30,240
Speaker 6: is the basics of what people need, like you need

577
00:32:30,320 --> 00:32:34,080
Speaker 6: a beautifully tailored jacket, shirt, pants. The price points are

578
00:32:34,080 --> 00:32:37,560
Speaker 6: a lot lower and it's the basic things that people

579
00:32:37,640 --> 00:32:41,080
Speaker 6: need on a daily basis. So that is where our

580
00:32:41,120 --> 00:32:44,840
Speaker 6: bread in batter lies. But like every brand internationally, what

581
00:32:45,040 --> 00:32:47,400
Speaker 6: you see out there from an advertising perspective and what

582
00:32:47,520 --> 00:32:51,040
Speaker 6: you see out there in terms of runway collections, these

583
00:32:51,160 --> 00:32:53,000
Speaker 6: things are pretty much the twenty percent of what a

584
00:32:53,080 --> 00:32:55,240
Speaker 6: brand has to offer. But it shows the level of

585
00:32:55,320 --> 00:32:59,880
Speaker 6: creativity you are at. So as much as the price

586
00:33:00,000 --> 00:33:04,680
Speaker 6: points might seem a little bit at least yeah, a

587
00:33:04,800 --> 00:33:08,160
Speaker 6: lot tired than what you are expecting in a commercial space,

588
00:33:08,240 --> 00:33:13,520
Speaker 6: you have to understand that we are We make one

589
00:33:13,560 --> 00:33:16,360
Speaker 6: of the kind pieces and we also make individuals. So

590
00:33:16,800 --> 00:33:19,400
Speaker 6: being bespoke, which is the main driver of our business,

591
00:33:20,320 --> 00:33:22,680
Speaker 6: that is not something that we chose, but it's something

592
00:33:22,760 --> 00:33:26,160
Speaker 6: that is default purely because that's what works for our

593
00:33:26,200 --> 00:33:30,200
Speaker 6: business model at this particular time. And we have to

594
00:33:30,320 --> 00:33:34,240
Speaker 6: understand that the pie is big enough for everybody. It's

595
00:33:34,280 --> 00:33:36,880
Speaker 6: not about wanting to capture the entire market, but the

596
00:33:37,080 --> 00:33:41,800
Speaker 6: capture the market that appreciates you most, and that's who

597
00:33:41,840 --> 00:33:42,520
Speaker 6: we are servicing.

598
00:33:43,040 --> 00:33:46,200
Speaker 1: No, sure, is there a particular age that you go for.

599
00:33:46,520 --> 00:33:48,880
Speaker 1: I mean a lot of a lot of a lot

600
00:33:48,920 --> 00:33:50,960
Speaker 1: of the sales images will be you know, someone in

601
00:33:51,040 --> 00:33:53,200
Speaker 1: their thirties because they're rich enough and still look good.

602
00:33:54,840 --> 00:34:00,239
Speaker 1: That in the fifties, well maybe it just rich enough, right.

603
00:34:00,360 --> 00:34:02,560
Speaker 6: So I think that really, if you want something of

604
00:34:02,720 --> 00:34:06,080
Speaker 6: quality and you value yourself in that level, sometimes you

605
00:34:06,120 --> 00:34:08,640
Speaker 6: want to spoil yourself. Sometimes you know you're able to

606
00:34:08,719 --> 00:34:13,440
Speaker 6: afford it. I think it's there's no price to quality

607
00:34:13,719 --> 00:34:16,680
Speaker 6: and there's no price to luxury. And when you understand that,

608
00:34:16,880 --> 00:34:20,320
Speaker 6: then you know who your market is. We don't have

609
00:34:21,520 --> 00:34:25,600
Speaker 6: a specific demographic when it comes to age. We have

610
00:34:25,760 --> 00:34:28,960
Speaker 6: clients from the ages of sixteen eighteen all the way

611
00:34:29,080 --> 00:34:32,759
Speaker 6: up to eighty five nineteen. So, like I said, it's

612
00:34:32,800 --> 00:34:35,520
Speaker 6: mainly bespoke. They might like a certain silhouette, but they'd

613
00:34:35,600 --> 00:34:37,920
Speaker 6: want it in a different fabric and a different detailing.

614
00:34:38,440 --> 00:34:40,239
Speaker 6: We're absolutely able to achieve that.

615
00:34:40,960 --> 00:34:42,759
Speaker 1: Sheldon's great to talk to you. Thank you find that

616
00:34:42,920 --> 00:34:46,240
Speaker 1: so interesting. Sheldon Coopman is the founder and creative director

617
00:34:46,360 --> 00:34:49,040
Speaker 1: of the fashion line The Fashion House that we call

618
00:34:49,080 --> 00:34:50,319
Speaker 1: it that Naked Ape.

619
00:34:51,200 --> 00:34:56,560
Speaker 2: Stephen taking your calls on one one eighth, three oh seven.

620
00:34:57,280 --> 00:35:00,680
Speaker 1: Time for the Friday Biz Blitz this Friday. You heard

621
00:35:00,719 --> 00:35:03,319
Speaker 1: the number. You know how it works. We you call us,

622
00:35:04,000 --> 00:35:06,439
Speaker 1: We give you a question. If you get the question right,

623
00:35:06,719 --> 00:35:08,560
Speaker 1: we move on to the next question. If you get

624
00:35:08,600 --> 00:35:11,400
Speaker 1: the question wrong, we move on to the next caller.

625
00:35:11,480 --> 00:35:15,160
Speaker 1: First question tonight on the Friday bus Blitz? Which city

626
00:35:15,800 --> 00:35:19,319
Speaker 1: is due to host the G twenty that we are

627
00:35:19,480 --> 00:35:22,680
Speaker 1: not being invited to? First question on the Friday Busblitz?

628
00:35:23,040 --> 00:35:25,920
Speaker 1: Which city is due to host the G twenty that

629
00:35:26,080 --> 00:35:27,840
Speaker 1: we are not being invited to?

630
00:35:31,600 --> 00:35:34,239
Speaker 8: The Money Shows Feeble Crotus is brought to you by

631
00:35:34,360 --> 00:35:38,200
Speaker 8: Absir c IB, proud host of the Africa Impact Matters

632
00:35:38,239 --> 00:35:42,400
Speaker 8: series podcast Perhaps and authorised ASP and registered credit provider.

633
00:35:45,000 --> 00:35:48,440
Speaker 1: The Money Show Friday Busines List. First question on the

634
00:35:48,480 --> 00:35:52,000
Speaker 1: Friday bus Blitz tonight, Which city is due to host

635
00:35:52,080 --> 00:35:56,200
Speaker 1: the G twenty that we are not being invited to? Selma,

636
00:35:56,320 --> 00:35:57,080
Speaker 1: You're in Rudeport.

637
00:35:57,200 --> 00:36:02,239
Speaker 3: I Hi, so that as far as I know, it

638
00:36:02,520 --> 00:36:06,520
Speaker 3: is as Trump called, it's the great city of Miami.

639
00:36:06,760 --> 00:36:10,680
Speaker 1: It is it is it is the city of Miami, Sma. Yes,

640
00:36:10,880 --> 00:36:14,480
Speaker 1: you are right, okay. Second question, on the Friday vis Blitz,

641
00:36:14,960 --> 00:36:18,919
Speaker 1: South African Harbor was ranked the worst performing container port

642
00:36:19,040 --> 00:36:22,320
Speaker 1: in the world according to the twenty twenty four World

643
00:36:22,440 --> 00:36:26,800
Speaker 1: Bank Reports Index. This week, we heard that it's turning around.

644
00:36:26,960 --> 00:36:28,000
Speaker 1: Which harbor is it?

645
00:36:29,960 --> 00:36:32,080
Speaker 3: Oh, thank you, Yes, it's say urban.

646
00:36:32,440 --> 00:36:35,839
Speaker 1: Zelma, it is urban, yes, okay, here we go. Third question.

647
00:36:36,560 --> 00:36:40,000
Speaker 1: This week, we spoke to the Nurser chair, Tembani Bakula.

648
00:36:40,040 --> 00:36:44,759
Speaker 1: He was our shape shifter this week. What does nurser stand.

649
00:36:44,600 --> 00:36:48,520
Speaker 3: For the National Energy Regulator sold Africa?

650
00:36:48,800 --> 00:36:53,880
Speaker 1: Wow, Zelma, you're on a roll. Yeah okay. Which is

651
00:36:54,000 --> 00:36:56,759
Speaker 1: the busiest shopping day of the year.

652
00:36:58,560 --> 00:37:01,000
Speaker 3: Well, they explain that stop anymore?

653
00:37:01,120 --> 00:37:02,120
Speaker 5: Is now Black Friday?

654
00:37:03,960 --> 00:37:08,120
Speaker 1: Yes, it is Black Friday? Wow? Okay. We've got other people, Yeah,

655
00:37:08,320 --> 00:37:10,680
Speaker 1: they would like a chance to Zelma. Okay. Next question,

656
00:37:10,760 --> 00:37:16,840
Speaker 1: here we go. Which telecommunications giant listed on the Stock

657
00:37:16,960 --> 00:37:39,960
Speaker 1: Exchange this week? Zelma? Yes, Zelma, congratulations, you're a winner.

658
00:37:41,000 --> 00:37:44,840
Speaker 7: Thank you so much, thank you, thank you.

659
00:37:44,960 --> 00:37:47,920
Speaker 1: Zelma. Congratulations. Okay. It's not very often someone gets the

660
00:37:47,960 --> 00:37:50,279
Speaker 1: first one right and goes all the way. We've had

661
00:37:50,320 --> 00:37:52,160
Speaker 1: from the second we've had people steal at it by

662
00:37:52,280 --> 00:37:57,040
Speaker 1: last minute. But Zelma, congratulations and yeah, some very interesting

663
00:37:57,200 --> 00:38:03,200
Speaker 1: questions coming through today. Okay, so obviously a lot of

664
00:38:03,400 --> 00:38:05,839
Speaker 1: questions I think being asked around what happened with Black

665
00:38:05,880 --> 00:38:09,320
Speaker 1: Friday today, how busy it's been, and I do just

666
00:38:09,480 --> 00:38:11,520
Speaker 1: want to remind you once again just take a look

667
00:38:11,560 --> 00:38:13,759
Speaker 1: at your bank before you go to bed, maybe when

668
00:38:13,760 --> 00:38:16,200
Speaker 1: you wake up tomorrow, and make sure that no one

669
00:38:16,320 --> 00:38:19,240
Speaker 1: used the high transaction volumes to actually insert some payments

670
00:38:19,239 --> 00:38:21,840
Speaker 1: that we're not due. In other words, don't let anyone

671
00:38:21,960 --> 00:38:23,760
Speaker 1: do what they did to me last year and steal

672
00:38:23,840 --> 00:38:25,480
Speaker 1: it from you. Make sure that you get it back.

673
00:38:25,520 --> 00:38:26,760
Speaker 1: You with the Money Show at seven o'clock