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Biznews Digest PAGE 4 PAGE 6 PAGE 7 PARTNER CONTENT// GOOD HOPE// LIGHT// JOBURG INDABA A GOOFY GOOGLE RUGBY: TOP 4 OFF NUGGETS TALE TO EUROPE PR016 BizTHE RATIONAL PERSPECTIVENewsDigest WWW.BIZNEWS.COM FRIDAY 02 OCTOBER 2020 BIZNEWSCOM Hum-ho, off to jail we go briefs On the day of the National Prosecuting Authority’s self-imposed deadline to load some suspects into the August CPI back of a police van, the Hawks swooped on seven suspects implicated in a dodgy construction tender in the Free State. The suspects include a trio of middle-rank comrades who are bit players in an orgy of 3.1% self-enrichment by ANC top brass, not least secretary-general Ace Magushule and ex-minister of mining Mosebenzi Zwane. The first clutch of suspects may well be the first to don prison garb, as a consequence of the hours of testimony at the Zondo Commission into state capture. - By Derek Alberts 42% By Derek Alberts and Bernice Maune Jobless in July expanded definition t was an asbestos audit deal gone wrong that lifted the lid on a R255m housing scandal Iin the Free State and landed the PCC three kingpins - Edwin Sodi, result delays Nthimote Mokhesi and Thabane Zulu - in trouble. 3 As testimony from witnesses at the Zondo Commission intimated, the lure of easy money was too Corruption cabal: Edwin Sodi (left), Thabane Zulu (middle) and Nthimotse Mokhesi (right). much to resist when the provincial Investec government awarded a R225m Property Fund tender in 2014 to undertake an plenty of interest for several reasons, who was gunned down in his for Zulu, and R650,000 towards asbestos-roof audit. not least the brazen appropriation of Bentley in 2017. a property for Free State housing After two years of testimony at public funds by thieving individuals It would appear Sodi’s Free State official Nthimotse “Tim” Mokhesi. -30% the commission, the Hawks finally and conniving officials. The Free contact was extended to Gauteng, Sodi defended the payments, half-year swooped on seven individuals State proved a particularly rich notwithstanding a reputation for saying he saw nothing wrong in distributable earnings and put the cuffs on six suspects. hunting ground for the ANC elite shoddy work, perhaps because he supporting the ANC while doing But Zulu, a former DG at the with former premier Ace Magashule subcontracted the work for R21m, business with the government. How national department of human and minister of housing Mosebenzi and walked away with a R200m his interpretation of doing business settlements, and newly-appointed Zwane deeply implicated in the profit. goes down in court remains to be CEO of the Richards Bay Industrial plunder. Sodi, his bank statements showed, seen as more arrests are on the Capitec profit Development Zone, is reportedly A beneficiary was tenderpreneur generously oiled the ever-hungry cards. plunge on the run. Sodi whose company Blackhead machine of cadre patronage. Apart Read also Also in the dock, but in relation to Consulting won the contract despite from allegedly greasing the palms of evidence in the Bosasa investigation, not having the accreditation to do his political benefactors, including Finally, arrests from Zondo -78% is another senior ANC official from the work. He entered into a joint several ministers in President Cyril Commission Gauteng. venture with Ignatius Mpambani, Ramaphosa’s cabinet, Sodi had paid #Jetgate scandal shows ANC The Free State asbestos deal drew true colours the owner of Diamond Hill Trading, R600,000 towards a Range Rover JP Morgan fine $920 million Subscribe now market manipulation Best in business news. BizNews.com 2008-2016 2 | FRIDAY 02 OCTOBER 2020 WWW.BIZNEWS.COM FINANCE Life is one long learning curve By Alec Hogg BizNews founder Alec Hogg reflects on fortuitous Take note: interventions and mankind’s generosity of spirit in Connect to the BizNews Premium Whatsapp Group few weeks ago, my this edition of Rational Perspective. colleague of the past Connect to the Premium two decades, BizNews one day for omitting some caustic And secondly, how outstanding Interactive Whatsapp group Aeditor Jackie Cameron, suggested comments. He’s sure to repeat members of our species are also the View the Rational Radio it was high time for me to start them, though, in a biography now ones who share most generously. webinar with Charles Savage a long-form podcast. From that being worked on with the peerless Perhaps because they actually have of Purple Group, Wilhelm idea emerged the ostentatiously Gus Silber. Allen expects it will be so much to impart. Hertzog and Mark Ingham named The Alec Hogg Show - the ready by Christmas. One for the Soon after I began on my View the latest BizNews first time in a lengthy career I’ve stocking. journalistic journey in the early Share Portfolio webinar used my name in the title. Forgive Reflecting on Allen’s insights 1980s, a generous soul gave me for caving on that. and those of the podcast’s guests me a life-changing book called For more insight: This week, we published its seventh provided a couple of conclusions. Megatrends. In it, author John episode, the most challenging thus First, the blessing of how my Naisbitt warned that the only The Tesla conundrum – Elon far as Allen Ambor is so interesting 19-year-old self’s path was diverted way to flourish in a speeded-up will keep surprising us that editing our chat to 30 minutes from a wannabe horse-racing world was by embracing life-long testimony to Naisbitt’s prescience Alec Hogg: An SA investment required dropping half of it. commentator/reporter to financial learning. and a useful tool for those of us proposition: the phenomenon Then again, Allen may thank me journalism. The podcast’s guests are both who believe him. called Easy Equities Market FTSE 100 S&P 500 snapshots A quick, but comprehensive look at the some of the world’s financial and currency markets over the past month. In our Graph of the Week, we highlight the see-saw volatility of the Rand against the US Dollar over the past month. Source: Bloomberg USD/ZAR SPOT EXCHANGE RATE Graph of USD/ZAR SPOT EXCHANGE RATE ZAR/EUR SPOT EXCHANGE RATE the Week FTSE/JSE AFRICA ALL SHARE INDEX CAPITEC BANK HOLDINGS LTD FTSE/JSE AFRICA TOP 40 The BizNews Shop Visit the shop Everything from investing like Warren Buffett to the Audiobiography of Cyril Ramaphosa 3 | FRIDAY 02 OCTOBER 2020 WWW.BIZNEWS.COM FINANCE Fascinating insights IN SHORT Thou shalt not speculate online - Mboweni Finance minister Tito Mboweni has waved the big stick at small-time into exceptional people forex traders, warning that offshore currency speculation is illegal in SA. Responding to a parliamentary question, Mboweni said online platforms advertising forex trading are not allowed and therefore are t’s been a busy month at interviews with some of South and the incomparably eccentric not registered in SA with any of the financial sector regulators, and BizNews, with the launch Africa’s most fascinating people. Allen Ambor, the founder of Spur so operate illegally, similar to online gambling platforms. But illegal of three new products. This Guests this month include: Paul restaurants. online forex trading platforms should not be confused with authorised Iweekly BizNews Digest is aimed O’Sullivan, ace corruption-buster; You can access these inspiring brokers who use trading platforms to manage and execute market at giving readers all the main Nick Hudson, who has exposed half-hour podcasts, produced positions, he said. stories in one easy-to-download the flaws in Covid-19 models; by BizNews founder and award- PDF format and Inside Investing young restaurant entrepreneur winning broadcaster Alec Hogg, podcast highlights our top money- Tasha Sideris; foxy futurist Clem through Spotify, Iono.fm or on focused interviews. Sunter; Sygnia founder Magda BizNews Radio. No entry for high-risk country visitors Perhaps best of all is The Alec Wierzycka; Leon Louw, the You can also follow the links to Leisure travellers from countries with coronavirus infection rates Hogg Show, which features in-depth Marxist-turned-Free Marketeer; the interviews, below. higher than South Africa, including Britain, the US and France, will not be permitted to enter when South Africa’s borders open up on October 1, foreign minister Naledi Pandor said. However, business Paul O’Sullivan travellers from countries considered “high-risk,” which also include the In the inaugural episode, the BizNews founder engages with Paul O’Sullivan, nemesis of Netherlands, Russia and India, with scarce and critical skills including the corrupt. O’Sullivan opens up about his Irish childhood that sounds a lot like that in diplomats, repatriated persons and investors will be allowed to enter. Frank McCourt’s classic Angela’s Ashes to the reason why he has channelled the fruits of a successful business career into bringing the powerful to society’s heel. Icasa outlines broadband auction dates Nick Hudson The Independent Communications Authority of South Africa will South Africa possesses many extraordinary people few of us ever hear about until they get publish the invitations to apply for the licensing process for the pushed into the spotlight by unusual circumstances. Like the Covid-19 pandemic which was Wireless Open Access Network (WOAN) and the International Mobile grabbed as an opportunity by politicians to stir up fears enabling them to wield unfettered Telephony (IMT) spectrum no later than October 2. The authority power. We get to hear what makes PANDA co-ordinator Nick Hudson tick. Riveting. plans to make available 406 MHz of spectrum for the provision of mobile broadband services with various empowerment obligations to be imposed on successful bidders. The closing date for IMT spectrum Tasha Sideris applications is December 28 and March 30, 2021 for the Woan ITA.
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