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Ace and a Full Pack of Cadres PAGE 3 PAGE 5 PAGE 7 FINANCE// SPONSORED// LIGHT// KLEYNHANS ACES IT SCHOOLS: THE ‘NEW’ JERUSALEMA: SONG FOR JUSTICE TRADITIONAL OF HOPE AND UNITY BizTHE RATIONAL PERSPECTIVENewsDigest WWW.BIZNEWS.COM FRIDAY 13 NOVEMBER 2020 BIZNEWSCOM Ace and a full pack of cadres BRIEFS Well may ANC secretary general Ace Magashule wonder if the day of superstition, on Friday the 13th, will have a bearing on his long-awaited court appearance for his role in the notorious R255m asbestos-roof case in the Free State. An ANC statement says 60% the former Free State premier will co-operate with law enforcement as he heads a growing list of suspects – 100 and counting – on a range of corruption charges. Magashule’s arrest has signalled a tightening of the noose around the necks of a veritable gallery of of 107 companies similarly implicated ANC heavyweights, notably Nomvula Makonyane, Mosebenzi Zwane, Duduzane Zuma, and Lynne Brown, listing in 2006/7, among others who allegedly plundered public funds under the conniving eye of recalled president Jacob Zuma. no longer on JSE By Derek Alberts he secretary general of Lucara the ANC, Ace Magashule, is playing a double-dare Diamonds Tgame of compliance and defiance as he heads into the unknown 31 territory of legal accountability. stones mined larger On the one hand, he professes than 100 carats in 2020 to “fully cooperate with law enforcement agencies”, on the other, he won’t relinquish his ANC position before the court case starts. His arrest had evoked a vociferous 21% response from the so-called Radical Economic Transformation grouping Renewable that represents a loose, if incoherent, energy expansion opposition to Ramaphosa in the ANC. in 2020 Suggestions that Magashule was the victim of a conspiracy were enough for ANC maverick Carl Niehaus to vow his support for 5,838 the ANC treasurer general in the © 2020 - 2020 Zapiro (All Rights Reserved). Originally published in Daily Maverick. Mangaung High Court. Magashule also appears to fan not want supporters to march at online applications the conspiracy flames in a recent his trial or wear T-shirts or carry for 900 farms offered interview. placards featuring his name. But by government “The enemy is intending to it could well be a shrewd trick by Sasol under fire Lockdown relief demoralise us and we must refuse Magashule to invoke exactly what he Petrochemicals giant Sasol is facing Among the relaxation of Covid to be demoralised. We must refuse says he doesn’t want. The support, a rather uncomfortable reminder regulations; announced by President for lies to fly.” or lack of it, may well determine his about its pollution legacy from Cyril Ramaphosa include the ANC deputy secretary general next move that is closely watched by activist shareholders who demand weekend sale of alcohol and fewer 3,000 a change. restrictions on international travel. Jessie Duarte said Magashule did the other implicated cadres. Chartered flights Who’s been arrested? See here Read the full article here Read the article here Read the article here ahead of Singles Day in China Subscribe here for your weekly BizNewsDigest Subscribe now 2 | FRIDAY 13 NOVEMBER 2020 WWW.BIZNEWS.COM FINANCE Basking in the comfort of the familiar By Alec Hogg of a breakthrough against Covid-19 from drug company Pfizer after DOWNLOAD THE FREE a large trial concluded its soon- BIZNEWS.COM APP veryone loves the concept to-be-available vaccine was 90% of disruption – until it’s successful. their life that’s being The vaccine news caught Mr Eturned upside down. In truth, the Market by surprise, boosting human condition craves routine, share prices of companies most BN investment markets even more so affected by the lockdown. These as they thrive on certainty. winners were led by a 39% surge Little wonder the world’s biggest in the price of cruiseliner operator Click on the links below to equity markets are celebrating a Carnival Corp with many other download your own free promised return to normality after travel companies, airlines, retailers BizNews.com App four disruptive Donald Trump years and banking stocks enjoying their and nine months of Covid-19. best session this year. The performance of the US indices on November 9. Source: FactSheet US investors reacted to the At the other end, Mr Market replacement by a 77-year old smacked pandemic beneficiaries moderate of a president whose with Zoom losing 17% and Netflix not yet certain because of a run- would ensure implementation of speciality seemed to be causing dropping 8.5%. off election for the two Georgia new president Joe Biden’s market- chaos in the global economy with Our partners at the Wall Street Senate seats in January, analysts friendly policies, while higher For more insight: enthusiasm. Journal say the rally also reflected expect the Democrat-controlled taxes and more regulation wouldn’t The appreciative mood of reduced uncertainty surrounding White House will be balanced by happen. Welcome back to the old Listen to Capitec CEO Gerrie investors was supported by news the US election results. Although a Republican-ruled Senate. This new normal. Fourie here It’s all about Mandela fib leadership trips up Biden while trying to see Nelson Mandela. By BizNews Reporter By Claire Badenhorst “This day, 30 years ago, Nelson Mandela walked out of prison and f business strategist Tracey Swanepoel had her way, resident-elect of the United entered into discussions about a company’s leadership should be measured by the States, Joe Biden has been Apartheid. I had the great honour degree of employee engagement. It’s not the case, of accused of lying about of meeting him. I had the great Icourse, a shortcoming that in part motivated Swanepoel PSouth Africa and Nelson Mandela honour of being arrested with our to write The Leadership Riptide and How to Escape. by American media outlets. UN ambassador on the streets of The introduction outlines the theme of leadership The Washington Post reported that Soweto trying to get to see him on renewal, of being better leaders by engaging with Joe Biden told voters during three Robbens (sic) Island.” employees, of a company’s leadership using its leverage presidential campaign appearances On a second occasion, Biden to bring about change for the greater good of the business, in two weeks that he was arrested reportedly said the following: its people and stakeholders. in South Africa while trying to visit “After he [Mandela] got free and Poor leadership is a global phenomenon and Nelson Mandela. became president, he came to worldwide employee engagement numbers While Biden was active in the anti- Washington and came to my office. are shockingly low. Perhaps because Apartheid movement as a senator, He threw his arms around me and in many instances business does the there is no evidence to prove that said, ‘I want to say thank you.’ I said, opposite of what science has proven he was ever arrested for trying to ‘What are you thanking me for, Mr to work – in terms of motivating and see the imprisoned future president President?’ He said: ‘You tried to inspiring employees. Put differently, if of South Africa. see me. You got arrested trying to we want better engagement, we need to lead The New York Times also revealed s e e m e .’” differently! that Biden’s 2007 memoir makes no Biden was a vociferous critic of Swanepoel’s audio book is free for BizNews community Tracey Swanepoel’s mention of any such arrest. In fact, Apartheid rule and often bumped members. Download the first instalment by the business book is based on her personal Biden has never mentioned it before heads with members of America’s strategist, author and founder of THINKspiration. workplace experiences in a range and it can’t be found in any news administration that supported the of industries. reports. Pretoria regime duriung the 1980s. According to The Washington Post, Download part 1 of audiobook here Biden said that he was arrested Read the full article here OrbVest takes the worry out of growing your wealth by providing safe and compliant access to previously unattainable global real estate investment opportunities. FIND OUT HOW Global Real Estate Investment - Orbvest Specialized Investment | Medical Commercial Property Investment Portfolio 3 | FRIDAY 13 NOVEMBER 2020 WWW.BIZNEWS.COM FINANCE IN SHORT Justice fighter has Manufacturing struggling for traction Manufacturing data for the month September picked up slightly from the previous month, but output is still below levels recorded last year, an Ace up her sleeve according to Stats SA. Production declined 2.6% year-on-year (y-o-y) in September 2020, the 16th consecutive month of y-o-y decline. Seven of the 10 reporting divisions recorded a slowdown in activity, led by By Jarryd Neves the basic iron and steel and metal products and machinery sector. n the most recent The Alec Covid grace amounted to more than R50bn Hogg Show, the Biznews The country’s banks have provided over R50 billion in financial relief in founder speaks to DA response to the Covid-19 pandemic and national lockdown, according Irepresentative Leona Kleynhans to the Banking Association South Africa. From April to October, about and her five-year fight to expose R33.61bn in payment breaks on credit agreements and R16.71bn under the corrupt dealings of former the state-backed loan guarantee scheme had been offered, via the Free State Premier Ace Magashule. voluntary relief initiative. The initiative, under a special dispensation Here are some excerpts from the from the government and its regulators, has since come to an end. interview. Leona Kleynhans on her background I had been a councillor in the Leona Kleynhans Alec Hogg Outgoing AG Makwetu succumbs to cancer Maluti-a-Phofung Municipality Outgoing Auditor-General Kimi Makwetu, has died in hospital aged 54, since 2006 which had its own a week after being appointed to the UN Independent Audit Advisory challenges.
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