Interviews with top CEOs and leaders shaping today's news stories alongside all the latest news that is impacting the markets, business and investments around the world.
A Tiso Blackstar Group Production.
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TFG worn down by lockdown
TFG had a tough year. The retailer has posted a near 81% plunge in annual headline earnings per share, as the pandemic and resultant lockdowns weighed on its operations. Business Day TV unpacked the numbers with CEO Anthony Thunström.
MultiChoice posts higher annual earnings
MultiChoice has reported a 32% rise in annual core headline earnings. The pay-TV group has cited an improvement in trading profit and realised foreign exchange movements, as well as a reduction in losses by its Rest of Africa segment. Business Day TV spoke to Tim Jacobs, CFO of MultiChoice for more detail.
Commission’s ‘BEE’f with Burger King causes business borborygmi
In one of the most hotly debatable recommendations in recent memory the Competition Commission last week opened the Pandora’s box of public interest assessment conditions, which were inserted into the law via the Competition Amendment Act of 2018, when it ruled that the proposed takeover of Burger King by a US private equity fund be prohibited due to the lack of BEE in the new ownership structure. While the Commission found that the proposed transaction was unlikely to impact Competition in the country, it found that ”...the merger would lead to a significant reduction in the shareholding of historically disadvantaged persons in the target firm...”. If upheld at the Tribunal, this ruling could have significant implications for foreign direct investment/foreign investors looking to make acquisitions of SA entities, existing black shareholders, employment, and small to medium sized firms as suppliers. The case also raises questions about whether competition law is the right tool to advance the country's transformation agenda. Michael Avery spoke to Competition Commissioner, Thembinkosi Bonakele; Heather Irvine, Partner in Bowmans Competition practice; David Holland, founder of Fractal Value Advisors and author of Beyond Earnings; & Langa Madonko, SAVCA Director, Investment Principal, Investor Relations & Capital Raising at Summit Africa.
Mining output surges in April
Mining production more than doubled in April when compared to output from the same month a year ago when South Africa was in the throes of hard lockdown. But if this low base effect is removed, what does the data reveal about where the mining sector is headed? To find out, Business Day TV spoke to Seleho Tsatsi from Anchor Capital.
COVID relief measures weigh on Vukile
Lockdown measures are weighing on Vukile Property Fund. The landlord, which owns shopping malls in South African and Spain, has posted a 20% fall in annual net property income. That decline is largely due to tenant relief measures provided during the period. Business Day TV unpacked the performance with CEO Laurence Rapp.
Business confidence hits a 3-year high
South African business confidence improved in the second quarter. The RMB/BER morale indicator shows that sentiment is at a better level than it was before the Covid-19 pandemic. Business Day TV unpacked the print with Ettienne le Roux, Chief Economist at RMB