January 23, 2026 • 40 mins
Stephen Grootes speaks to IDC CEO Mmakgoshi Lekhethe about the Corporation’s participation at the World Economic Forum in Davos, its role within Team South Africa, and efforts to advance industrialisation, investment, and sustainable development through initiatives such as AfCFTA.
In other interviews, Andre Visser, JSE’s director of issuer regulation talks about the recently updated simplification of listing rules on the JSE.
The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
And now The Money Show with Stephen Credits on seven
oh two.
Speaker 2 (00:06):
Let's walk little.
Speaker 3 (00:07):
The Money Show with Stephen Curtis is brought to you
by ABS of Corporate and Investment Banking, a Pan African
bank that's invested in your story because your story, mattter
is eight minutes after six. Good evening, Welcome to the
Money Show this Friday night. Have you enjoyed depending on
when you get paid. If you get paid on the
twenty fifth, there's a strong chance because it falls on
the Sunday that today was the end of January. Just
(00:28):
a reminder, I know it's Friday, I know it's been
a long time. Please wait for the debit orders to
go off first, wait for all the sms is to
be done, which will probably only be Monday and Tuesday
by the time that that happens. So just please, if
you're finally celebrating the end of January because you got
paid today, just remember that the debit order is still
to come as you go through.
Speaker 2 (00:51):
Well.
Speaker 3 (00:51):
In a moment, we do to speak to the CEO
of of the Industrial Development Corporation, Majoreschi Lekete. She's been
in Davos this week. This week and then just talk
to her about so how difficult it's been to sort
of punch through the noise. I'm also interested in some
of the trends that we're seeing in development banks where
they're putting their money, that kind of thing. Big changes
(01:11):
coming up the JS. They're changing some of the listing requirements,
basically making it easier to list. We'll speak to Andreas,
the director of issuer regulation at the JAC, about those
requirements and what's changing. Big news today about Cherry SA,
the automotive company. They're buying Nisson's factory at Roslyn. Cherry
(01:32):
is a Chinese owned company. It is part of the
sort of changes we're seeing. But also how is it
that they're going to make money while Nissen can't. We'll
speak to We'll speak to Michael Pushatt about that, and
then Clomelo Inlouza, the founder of HN Luxury, and how
he's made money in the handbag market. That'll be your
(01:54):
Friday file in about half an hour from now. Good
to hear from you double one double A three oh
seven two two one four four six five sixty seven,
and of course always good to hear from you on
seven two seven oh two one seven O two.
Speaker 1 (02:07):
The Lanly Show with Stephen Krutis live on ninety two
point seven and one O six FM, streaming on the
Prime Media Plus NAP and DStv channel eight five six.
Speaker 3 (02:18):
Well the dust and I presume the snow beginning to
finally settle in Davos as the World Economic for a
meeting their winds up. There was the explosive speech by
the US President Donald Trump, the appeal by the Canadian
Prime Minster Markkani for Middle powers to work together. I
think for us in a way, the major focus of
Davos probably to try and show the world that change,
(02:39):
that things are changing for the better here and that's
South Africa amidst everything that's going on is probably a
pretty good place to invest. Please to tell you now
that on the line from Davos, as the CEO of
the Industrial Development Corporation, Mahjoschi Leaket Makhoshi, Good evening. I'm
glad we've been able to make contact with you this week.
With everything that's been going on, ad asked, did you
(03:01):
get a chance to make the investment case for South Africa?
Speaker 4 (03:06):
Good evening, Stephens. Indeed, we had an opportunity to make
a case for South Africa as an investment destination, ably
led by our minister in a god a very good
story he told because as you will know, South Africa
just concluded it's chairship of the G twenty, which went well.
(03:30):
The credit rating has been upgraded by SMP. We've been
removed from the gray list and the blacklist of the EU.
So the story is indeed good and we're able to
articulate that as Temsa in Davors.
Speaker 3 (03:45):
We know that sort of global trade is kind of
being rewired in a way. Have you seen any obvious
opportunities for South Africa? Anyone say anything that's that that
you sort of saw and you thought, oh, that's a
big opportunity for South Africa. We need to start looking
in that.
Speaker 4 (04:03):
For me, the interesting focus has been on regional economic
trade across the African continent. I think people the investors
still look at South Africa as a good partner for
their investment decisions as they look into the rest of
the of the continent. Indeed, the world is changing fast.
(04:28):
Regional dynamics are really changing as well. So you know,
I see this as an opportunity for us as Africans
to ensure that the African continentals we Trade Agreement WAX
and that it is based on rules reliability and I
believe that through that we should be able to attract
(04:50):
the investments not only for South Africa but for the
rest of the region.
Speaker 3 (04:53):
Is there anything in particular that you can see that
you think our government needs to do to improve our
investment story that would make bring the track more capital here.
Speaker 4 (05:05):
I think the story has been well articulated in terms
of the reforms that.
Speaker 5 (05:10):
We did in energy.
Speaker 4 (05:13):
Everyone I mean everyone that I met congratulated South Africa
and especially es COM for keeping their lights on. The
second point that was made was with the improvements that
have been made with logistics and parts. Those two I
think had a whole lot of costs to doing business
(05:36):
in South Africa amongst others, and there was and there
is an appreciation of progress.
Speaker 3 (05:43):
You would have touched base with people at DEVASA in
the same space as you, by which I mean people
who run development financial institutions like the IDC. Have you
seen any trends where institutions like yours are focusing their
lending I mean any particular type of projects, type of
project that you can see development banks are focusing.
Speaker 6 (06:03):
On infrastructure is a big enabler, you know, as the
I d C we are focusing on regional belluy chains
across the region but also in South Africa and.
Speaker 4 (06:18):
Do we have recognized which is why we've taken a
decision to also amongst others, be counted as those that
are investing in infrastructure. And there is a huge focus
on AI and digital transformation. But AI requires energy, AI
(06:38):
requires capital intensive and it's also data intensive. So infrastructure
is one area where we are all coed listening to
say how best do we partner to scale up infrastructure
financing Mahoshi.
Speaker 3 (06:56):
There has been reporting this week that US the I
d C R and talks of little Metal about some
kind of transaction. And I'm sure you're going to tell
me you can't say anything about it, which I mean
I'll have to accept.
Speaker 2 (07:07):
I understand that. Let me put it to you like this.
Speaker 3 (07:09):
Are you expecting some kind of announcement soon one way
or another.
Speaker 4 (07:15):
Absolutely, we will have an announcement soon.
Speaker 5 (07:20):
I can't say more than this.
Speaker 3 (07:22):
Okay, you've given me more than I thought I would get,
so thank you very much. Indeed, have a safe trip home.
Majorche Lekete on the line from Davis just going a
QUARTERPAS six.
Speaker 2 (07:31):
The Money Show Explainer confirmation.
Speaker 3 (07:35):
This week the Financial Sector Conduct Authority is confirmed or
approved new listing requirements for the JC. The JC is
currently in the middle of what it would call a
simplification project. The idea is to remove some of the
requirements which maybe are overly onerous. Andreafaser is the director
of issuer Regulation at the JAC. Andre good Evening, So,
(07:56):
your main aim has been to simplify everything. There's quite
a lot list of changes that you've made. What for
you do you think are the biggest changes, the most
important things that you've simplified.
Speaker 7 (08:08):
Evening Stephen, Yeah, I think the main focus of this
project was to simplify things, as the project name suggests,
and I think what we've done through this initiative is
to basically look at every single provision we've got. We've
removed complexity as much as we can, We've removed ambiguity,
but at the same time made sure that we maintain
a proper level of investor protection to appropriate disclosure to
(08:30):
investors if you had to ask me. But the main change,
I think, certainly, the one that would stand out is
the fact that we've expanded our fast tracked listing process,
which basically now means that companies from international stock exchanges
eighteen international stockage changes will now have much easier access
onto the JERZ and that would obviously provide more investor
choice and allow a local investor to invest in those
(08:53):
companies on the JERZ. That efficient process will go a
long way in attracting new listings onto the market.
Speaker 3 (08:59):
Point and you're doing a whole lot of investigations and
all the rest of another regulator's already done it. I
suppose you've removed some requirements and you've eased others. What
impact do you think that's going to have to trading
on the JS I means so, for example, it's probably
easier now to do a share buyback than it was.
Do you expect that companies are going to take advantage
(09:21):
of a little bit more freedom you've given.
Speaker 7 (09:23):
Them, Steven, We certainly believe that the platform and the
framework would be now would be available to the companies
to take advantage of that, and certainly issues like capital
raising that will be able to do much more efficiently
with appropriate threshold in place buybacks, as you've mentioned, I
think those issues will certainly lead to cost reductions for
(09:43):
companies in terms of compliance. It will certainly lead to
much more efficient capital raisings and at the same time
providing vestors with proper disclosure and investor protection.
Speaker 3 (09:53):
I mean, one of the questions whenever someone makes a
big change like you've done and remove some requirements, so
you immediately ask, well were they important in the first place?
And I realized that stock exchanges evolve and the JAC
is a big part of that, and this is quite
a big evolution in a way. But I mean there's
always a question if a regulation was important enough to
(10:14):
be brought in, why is it now so unimportant that
it can be removed?
Speaker 7 (10:20):
And I think that's a very good question. I think
we've managed through those process to establish the right balance
and the reason why that's so important from a Jersey perspective,
as we recognize that if we want to attract international
companies and international capitals, we need to have a framework
where investors can trust that framework. So we've through the
consultation process not only engaged with companies, but very importantly
(10:43):
also with investors and sponsors. So we think the final
product that we've got now strikes the appropriate balance where
we would make things easier but still at the same
time maintain investor protection.
Speaker 3 (10:55):
So you want to obviously make sure you're attractive to
companies who want to get capital. You have done this before.
Speaker 7 (11:01):
Now, Stephen, I think if you look at the reforms
we've introduced over the last five years, specifically, I think
this phase of the changes, being the simplification phase, is
part of a broader range of changes that we've made.
If you look at market segmentation at introduced in twenty
twenty four, you know, trying to make it easier for
(11:21):
companies listed on the main Wall, specifically smaller companies that
certainly played a significant part in making sure that those
companies are able to maintain their listings on the Jersey.
And then we obviously we had the cutting red tape
initiatives earlier, where we've introduced reforms to allow new types
of companies like SPACs dual class shares onto the Jersey.
So we think this is not a once sort event.
(11:44):
We've made significant changes and this part of the phase
is basically to modernize our listing's framework, and it's part
of our broader strategic objectives of creating an enabling environment
can not only attract new listings onto the market, but
also to maintain listings that are currently on the exchange.
Speaker 3 (12:00):
Do you think there's still major differences between your requirements
and the requirements of other exchanges in other countries.
Speaker 7 (12:08):
No, Stephen, I think we've moved much closer to our
international peers over the last couple of decades, and I
think this is an important phase in that in that process.
You know, when we add additional exchanges onto our list
of approved exchanges, we don't just do that by adding
a name. We actually do a proper sessment to see
what their framework looks like. So we've gathered lots of
insights over the last couple of years in terms of
(12:30):
international exchanges, and we think we are in many cases
ahead of those exchanges in terms of innovation with our
listing requirements and in many other respects on the same level.
So I think it's putting the Jays he certainly on
par with most international exchanges.
Speaker 3 (12:48):
Andrew, thank you so much, really to appreciate it. The
director of Issuer Regulation at the JZ twenty one after six.
Speaker 2 (12:54):
The money so with Steven on seven oh two seven o.
Speaker 3 (12:58):
Two confirmation Cherry Essay is buying this insfactory at Roslyn
they'll acquire the stamping plant, they do, the land around it,
and obviously be in a very good position to manufacture
or assemble cars there. Michael Pashot is the paschet rather
is the owner of Change Cars, host of the podcast
Keep It or Change Cars. Michael Good Evening. I appreciate
(13:19):
the time. There's been rumblings of this for quite a while.
Is this a big opportunity for Cherry?
Speaker 8 (13:25):
Absolutely, so Good evening, Stephen Good Evening to the listeners,
and of course thank you for the opportunity.
Speaker 9 (13:30):
Let me tell you there's.
Speaker 8 (13:31):
Not one single negative around. If not a negative for Messin,
not a negative for Cherry, and not a negative for
the South African population. That's fantastic news.
Speaker 2 (13:42):
Okay.
Speaker 3 (13:42):
I mean Cherry is quite a big company. They have
sort of I think it's three or three brands underneath them.
But the obvious question is Misson was shutting down production.
They want to open production in the same place. Why
is Cherry quite optimistic about making money and this and
not for sure?
Speaker 8 (14:00):
It's a very good question. So let's look at this
in its standalone form. Since nineteen sixty six, Nissen has
been in South Africa, So thank you to them for
sixty years. I cure you. I'm not a a thisen
PR person, but sixty years it's fantastic. They've built an
incredible facility in Roslan and BMW also produce in Roblin. Now,
(14:20):
from a Cherry point of view, they don't have to
go build a new factory. The factory is already there.
You're being new tooling.
Speaker 9 (14:26):
That is required.
Speaker 8 (14:27):
Fantastic. That's great for the economy, and they gain too,
from what I understand, retain the vast majority of the
this in workforce. So, like I said at the top
of the show, there's not one single negative. You asked,
why do I believe this in will? Thus apologies, why
do I believe Cherry will be able to make it
work when Thissen didn't. In the last couple of years,
(14:48):
Listen has only been producing the very popular Navara there
where Cherry are going to be producing from what we understand,
three four or five different ranges there. So the need
for the tool the needs for the staff will be there,
whereasins And unfortunately couldn't justify the investment anymore only producing
(15:09):
one vehicle.
Speaker 3 (15:10):
This is about scale in a way, isn't it. If
you're if you're able to come in and produce a
lot of different vehicles, Well suddenly it's worth it. If
you're just producing one, it's not correct.
Speaker 2 (15:20):
Correct.
Speaker 8 (15:21):
So let's look at this on a Cherry point of view.
They've been here twenty twenty one and a lot of
people and myself included you mentioned, we've got the podcast.
I've always wanted to see the Chinese entrant invest in
our country like Toyota have, like VW have. Now they're
putting their money where their mouth is. Cherry the top
(15:41):
ten seller in South Africa. I think they're going to
become a top five seller after this.
Speaker 3 (15:48):
I mean it's always in South Africa. If you look
at the cheapest car on the market and the best seller,
they're usually the same one. We've seen cheaper cars from
India and China disrupting our car market and it seems
to me that process isn't finished yet. We buy cars
as being disrupted by this. Motus is the latest one
to be disrupted by this. But we also see that
(16:10):
China's car exports went from just one million in twenty
twenty two, I think it's six million this year.
Speaker 2 (16:16):
Incredible, Yeah, it's amazing.
Speaker 3 (16:18):
So the question then is can you, even if you're Cherry,
produce cars at Roslin for a cheaper price than people
can produce them in China, Because if you can't, in
the longer term, we're just not going to have a
car industry.
Speaker 8 (16:32):
Well, a very interesting point, So let's look at it
from Cherry's point of view. What is the advantage for
them importing cars that are coming on ships. That's very
logistically challenging. But I do believe they'll be able to
produce them in South Africa cheap and again not a
fact I'm saying, I do believe. But you mentioned about
the country's major players being disrupted by the Chinese imports.
(16:55):
You take Motives that you mentioned. They are the only
major motor group that failed to embrace the fact that
the Chinese were yere to stay and deservedly so, and
they are under massive, massive pressure. But I'll say again
what you mentioned at the top of the show. This
is only one division of the Cherry brand.
Speaker 9 (17:14):
In South Africa.
Speaker 8 (17:15):
You also have a Moda Jku and an incredible jatur brand.
It's only a matter of time before the subsidiaries will
see the same opportunities. And I believe that Roslin plant
is going to.
Speaker 3 (17:27):
Expand it does look like it, so for you, there
is still a future for the South African car industry.
Speaker 8 (17:35):
Oh, no question. The South African ka industry last year
did roughly six hundred thousand vehicles and that is an
absolute record to the best of my knowledge. But it's very,
very buoyant and it's just going to continue to grow.
Speaker 3 (17:48):
There's no question as a buoyant Michael Pasha, thanks very much. Indeed,
owner of Change Cars and host of the Keep It
or Change Cars podcast. Twenty six minutes after six No
Money Show, Intia's Pullman is portfolio manager at Centtio Capital
in Tias. Good evening to you. I don't really know
where to start. So often I've started the segment with
(18:09):
gold and I feel I kind of need to do
it again. We're just what thirty dollars of Yeah, we're
twenty seven dollars of five thousand dollars anounce at the moment.
Speaker 9 (18:19):
Yeah, good evening, Stephen, adding what we're seeing this week
is one of the strongest weeks for goals since twenty twenty,
and it's been a phenomenal run. Solver has just broken
through that one hundred dollars an ounce level, and I
think gold will follow suit to that five thousand dollars.
And there's been a number of factors that's been driving
this phenomena. You know, we've seen very strong buying from
(18:41):
central banks of gold as they diversify their reserve assets.
And gold has been a momentum trade, so there's been
lots of flows into gold back exchange traded funds, And
just to put that into perspective, we saw about four
billion dollars of flows into goal ets in twenty twenty
four and last year that number jumped to eighty nine
(19:03):
billion dollars, so phenomenal momentum trade as well as invested
concerns around the longer term prospects for the dollar.
Speaker 2 (19:12):
Platinum up again as well.
Speaker 3 (19:14):
Volterra had an update today they say their earnings will
be up by one hundred percent.
Speaker 9 (19:19):
Yeah, and again this has been on the back of
a very strong platinum palladium in roleum price, which typically
is what these platinum companies mind. And if you look
at those PGM metals last year until November, from June
to November, it was up twenty percent, and since then,
from December until today, that's up a further sixty percent,
(19:42):
so very strong earnings on the back of a very
strong PGM basket price which has folded. True in terms
of Voltaire's earnings, you see that they did rely some
cost savings as well, which comes through typically with regards
to a lower oil price, and some saving is that
they've managed to generate. So again I think, you know,
(20:03):
if these prices sustained, you should see a further increase
in his earnings going forward. For the fully as well.
Speaker 3 (20:10):
There was a five billion rand savings and operations costs.
I mean that's huge, it's massive.
Speaker 9 (20:16):
I think a lot of that is the lower oil
price that they've managed to save, that costs fund that regard,
but also they also emerged from Anglo American and there
was one soft cost that have come through and those
won't RecA going forward. So a very strong operational performance.
Speaker 3 (20:35):
A true words were down today that that update just
after the market closed yesterday. The British operation doing okay.
They seem to be battling in South Africa. I'm not
entirely surprised when you consider the competition in clothing.
Speaker 9 (20:47):
Yeah, definitely. You know, if you look at truards, it's
very reliant on credit seventy percent of its sales in
South Africa are done on credit, and if you break
down the sales, credit sales were down more than care sales,
which just shows that the consumer is still in a
tight spot. We did have the two pots system and
(21:09):
those playouts come through in twenty twenty four and both
regards to the base that was much higher. So I
think a very constrained environment. Consumers certainly looking for value
where they can, and we have a lot of strong competitors,
and you also have the Chinese players Sheen and Timu,
which are also taking market share from the local players.
Speaker 2 (21:31):
So scidifica is tough.
Speaker 9 (21:33):
But the UK did perform adder and that has gone
quite nicely in through its stable to make up almost
half of their profits currently.
Speaker 3 (21:42):
The sentiment of the market at the moment, I mean,
with such strong gold prices that it all looks a
little bullish, people sort of talking about our economy kind
of pointed in the right direction. I don't know if
that's coming through to other shares yet.
Speaker 9 (21:53):
Though it's come through in terms of the banking shares.
We did see a of a rally that started towards
the end of last year in the essay. Bank companies.
The retailers, as we've just spoken about, have been a
bit challenge, but I think the market is always forward
looking and we do have several factors pointing in the
(22:16):
right direction. One is lower inflation, and then on the
back of that, we have lower interest states, and I
think we could expect interstates to be cut further this year,
which would be another impetus for consumer spending. And then
thirdly you've had the rand which has been very strong,
so that does bode well for margins of these closing
(22:37):
retailers in discretionary retailers, which will allow them to find
cost savings, although that revenue line might be challenged and
valuations are not stretched starving that is certainly there's some
tailwinds that have come through for the South African economy
which should folter down through the rest of the market
(22:57):
outside of the resource sector.
Speaker 3 (22:58):
In Tel Slimon, thanks very much, indeed, really appreciated portfolio
Portfolio Capital at Sentio Capital.
Speaker 2 (23:05):
Just after six thirty.
Speaker 1 (23:08):
Stephen is on the Money Show six to eight pm.
Speaker 3 (23:11):
Twenty two minutes to a seventh time. Well, the kind
of business problem that doesn't happen to everybody, and yet
is very very difficult to fix occurring. It seems in Iran.
For MTN they own mt and Iran cell they own
forty nine percent of that. There is a direct shareholder,
a majority shareholder that owns fifty one percent. That is
(23:32):
sort of as is often the way in Iran, kind
of through a company that is sort of controlled by
the military, sort of the way to describe it. Now,
as the it seems that the CEO of that company,
of the cel phoned company, Alereza Rafaye, has been removed
from his post without the forty nine percent shareholder even
(23:53):
being told. So EMPTN didn't know. What's fascinating is the
reason why he was removed. He was removed because the
military told him to basically switch off his cell phone
network to stop communications in Iran as the protests started.
The protests there, we know from what we understand claimed
I think at least two thousand lives, as some suggestions
(24:14):
it could be as many as five thousand. And you
know of course that the security forces there will have
used violence against these protesters as well.
Speaker 2 (24:23):
It seems that Provide took two hours.
Speaker 3 (24:25):
To switch off the phone network and as a result
of that, he was removed without the forty nine percent
shareholder being removed. The other problem, of course for MTN
is communication with Iran right now is incredibly difficult. But
just a reminder of how difficult it is to do
business in some parts of the world. Something similar happened.
The CEO wasn't removed, but there was a little bit
of a discussion about it during protests in Eswatinia about
(24:48):
three or four years ago. I think was MTN as well,
who as part of their license condition, had to comply
with an instruction to switch off their data transmissions, to
basically switch off your sofpone data through the network. If
you're in Satiny and this does happen, I imagine there
are similar license conditions in South Africa. If, for example,
government wants to know and there's an a legitimate court
(25:09):
order who made a phone quarter who when well, they
would have to give up that information. It's a very
complex thing for cell phone networks to manage. I would say, though,
on balance, while you might be quite frustrated with the
sel phone network that complies with a government instruction like that,
cell phone networks generally lead to more knowledge flowing and
(25:30):
therefore more democratization. If I can use that phrase, and
we shouldn't forget how important there might be in that
your views. Oh seven two seven oh two, twenty minutes
and out to seven.
Speaker 1 (25:42):
The Lonely Show with Stephen Krudis live on ninety two
point seven and one O six FM, streaming on the
Prime Media Plus NAP and DStv channel eight five six.
Speaker 3 (25:53):
On the Next Money Show, we're joined by Amanda Kromhote,
the CEO and founder of Truth, a leading customers sent
and loyalty consultancy. She'll share her journey with you on
how I make my money. In our business book feature,
we speak to Matthew Parks, Becausarto's parliamentary leader about the
latest book he's been reading and why I grabbed his attention.
And of course we'll bring you expert analysis of the
(26:16):
day's biggest business stories.
Speaker 7 (26:19):
For the Many Show The Friday.
Speaker 3 (26:21):
File File sixteen minutes to seven. So what is it
when you're looking for a handbag? What is it that
you look for in a handbag? And I don't mean
your purse, I mean what is it that you're looking
for when you're choosing a handbag. I think you want
something that looks pretty good. I think you might want
something that is practical, something perhaps that maybe makes a statement.
(26:43):
They're those things you go to those events where you
do need to make a statement. I hadn't thought that
what people might look for is a handbag that does
all of those things and is actually also bulletproof. Turns
out such a thing exists. It's made by h N Luxury,
(27:04):
and the founder of h in luxtually is a Romelo
loser Forromelo. Good evening, Thanks so much for taking the
time to talk to us tonight, greeting.
Speaker 5 (27:13):
To use thisten and to all the servin or two listeners,
also the Human Application members and believers, and thanks for
having me.
Speaker 3 (27:24):
I can see Friday is going nicely. There's so many
different sort of handbags on the market, Romelo. They're made
by lots of different people. You've made yours a bit different.
They send a different kind of statement. They have a
different I want to say, look, but I think maybe
feels at a better word, a different I mean, certainly
(27:45):
a different vibe. Where do you get the inspiration from?
How have you made yours stand out?
Speaker 5 (27:52):
Thank you so much for that question. So growing up
I realized my purpose on earth, which is to empower
other Peo people through my imagination. So last year or
three years that I think I've got a beautiful idea
of a bag that makes the hand disappear into the
(28:12):
bag when the child. And after I got that, I
don't take my dreams lightly. I made sure that I
partner up with a lot of artisans to make sure
that I make all of the ideas that I get
from my dreams to the dreams that I have when
my eyes are wide open, So all of those ideas
(28:33):
will come. Most of them they come around three o'clock
when I'm sleeping and I have to wake up and
make sure that I draft and make sure everything suspects.
But most of it it's inspired by my purpose and
inspired by also my tribe, which is cross the tribe I.
Speaker 3 (28:51):
Was going to say, I mean, Kelly, your heritage is
a big part of what you're producing now and maybe
the sort of defining part.
Speaker 5 (28:59):
Yeah, yeah, definitely, because the monogram of the luxury bags
is inspired by the Crosser truck, as I did mention,
and I got that from a dream as well.
Speaker 3 (29:09):
So yeah, do you think that your bags are conveying something?
There's a sense of self that other people identify with
the may they then want that message. They want to
send that message themselves through your bags.
Speaker 5 (29:26):
So yeah, one of the reasons why I like doing
things differently is because I want the people that who
consume them to stand out. Yeah, most of all, because
everything that I do, I make sure that it's unique
in such a way that even if maybe someone carries
a bag from overseas, they will feel that I thought
(29:47):
this was wet it, but that's what it's great. So
I want them to stand out, and I want them
to know that Africans can create beautiful things, especially with
the fact that our the main manufacturer that you're working
with is an African French trained craftsman. So that's one
(30:07):
of the reasons why the pads are so beautiful. By
the way, I had to go through twenty artisans over
a year to find the perfect line. So yeah, I
just want them to stand out, and I just want
them to enjoy being different and also their successes by
purchasing agents.
Speaker 3 (30:23):
No, sure, Promelo, I've got to ask about the idea
of a bulletproof handbag. I'd never heard of such a thing.
I see, I don't think you might not be the
only person who makes it, but I mean, what is
the sort of attraction. Is it to protect you, know,
your phone in the event of an emergency or was
it to protect you?
Speaker 5 (30:42):
So what happened last year is that I was just
relaxing in my space and Soto around I think four am,
because I to literally wake up around three am and
write down I didn't all of that. And then as
I was about to sleep, someone trying to break into
my room. They broke the butler and after prisoning the packer,
(31:05):
they tried to kick the door open, but I was
saved by this other friend of mine that I stayed
it at that time with James because he kept from
pushing the door. And someone tried shooting, only to find
out that it was a blunt gun. Thank god shooting administrate.
And then I was like, since I don't have a gun,
(31:26):
I felt so bad that I didn't have anything to
protect myself with. Since I decided to create a Laxady
that that is bullet proof and was gifted by a
shot at by a South African champion shooter and the
bullet didn't go through three times.
Speaker 2 (31:45):
It was short that you needed a champion shooter. It's
not a big jog.
Speaker 5 (31:54):
But we do have a version of the bags now
that is bigger, like as big as a backpack, so
one can cover the head and the hot area.
Speaker 3 (32:05):
Are they popular? I mean, they're not cheap from Melow,
I'm afraid to say. I mean, I know very little
about handbag, so maybe they are and I'm just I'm
just living in the dark ages. But I mean, do
you do are people particularly interested in the bulletproof handbag?
Speaker 5 (32:19):
So something very bad happened last year and I only
realized it around September. So when I released that particular bag,
I'm close to nine thousand people wanted to purchase a
by clipped on the by now button, but not a
single sale went through because with the people that I
have outsourced to create the website, there was a little
(32:42):
coma era that blocked all of those selves from going through.
So I ended up losing my breakthrough millions, if I may.
But now in the process of trying to get more
investors and trying to introduce the bags into the American
and the global market, because there's currently a company that
(33:03):
is going to release the bags in one hundred and
fifty countries. So they were popular, I could have been
a millionaire by now, But there was a tiny coma
era in the website coding that blocked people from purchasing
the bags.
Speaker 3 (33:16):
So, yeah, does the bulletproofing I mean, you know America
is mad about guns. I'm sure they'll do well. Is
the bag that's bulletproof? Is it much heavier than another bag?
Speaker 5 (33:29):
It's it's very light, to surprise, because we're using not steel,
but we inserted kevlar inside the bag, which is very
very light material that is made out of different types
of fabrics that are astecked into one piece. So when
you hold it very lightly to surprise and bullets don't
(33:52):
go through literail.
Speaker 3 (33:53):
Does it change the way the bag feels. I mean
it must do, because you've got kevlar inside it. It
must feel the from two every other handbag I've felt before.
Speaker 5 (34:05):
To be quite honest, you don't really feel that it's
like a bag that have got this, say, especially with
the one that is a backpack and that's the same
for nine thousand. It's like it's like it's like a
bag with a laptop.
Speaker 2 (34:18):
Yeah, yeah, no, no, sure, yeah.
Speaker 5 (34:20):
It's not that it's not. And what that can do
is it's amazing, especially now that sometimes there can be
a lot of bad things aten in in South Africa.
Speaker 3 (34:30):
No, of course, I've noticed in the handbag industry recently
that there's quite a big resale market. So someone will
buy one, they will use it for a while, use
it at a few events, make their statements, sell it
on and then use the money to buy another one.
Speaker 2 (34:52):
Is that happening with your bags? Do you know?
Speaker 9 (34:56):
So?
Speaker 7 (34:56):
Yeah?
Speaker 5 (34:56):
First I did mention that we on our way to
recoup everything that you've lost. I'm sure it's going to
happen because the brand HN in the past three month
has grown by one hundred percent. So if someone really
wants an investment, please especially with the bag, because the
premium bag, I'm not sure if you saw it has
got rails fine art that is presented in a glory
(35:19):
type of banana. So obviously with fine art by South
African fine artists, the value of art appreciates. So obviously
a bag that you can buy now, let's say for
nine thousand or ten thousand, maybe in the next two
years it's going to be worth around thirty and maybe
in the next ten years around more. Because obviously as
(35:41):
a brand is going and obviously the brand value as
well grows.
Speaker 3 (35:47):
So yeah, and the and the market for luxury bags
in South Africa remind my sense of it is that
that Aligan must be quite a big, quite a big market.
How big do you think it could be? I mean,
and I would think that that people who are going
to spend money on a handbag, they're going to look at,
you know, designs from Europe and look at designs from here.
(36:07):
You will stand out. There must be quite a big
market for designs that are obviously South African in your case,
obviously cause a handbag.
Speaker 5 (36:17):
South Africa is booming, especially with the fact that the
Cross the tribe, for instance, has been featured on the
language has been featured on Black Panther, and like with
social media, a lot of people are starting to crevitate
towards Africa. It's big because when I remember when I
released the bag in March, we were featured in a
lot of international media interviews from Australia, Mexico, London, Middle
(36:43):
East and New York, New York as well. I was
also invited to be a part of the Hampton Special
week So and even Miami Miami Magazine was like Meet
the heating was Meet the New Place of Globe one Luxury.
So it's a big, huge market, and people are tired
of seeing the same old monograms and the same old
(37:08):
designer bags, and especially with the fact that they don't
put much effort when it comes to their design. So
I think one is one of these newspapers that were
covered in from overseas. H h end cimlins A luxury
bags could be the African answer to him, is they
actually huge market billions? No?
Speaker 3 (37:29):
Absolutely, Clomello, thanks so much. I really enjoyed talking to you.
Learned a lot from that. Clomelonia Loser is the founder
of h N Luxury talking about handbags on The Money Show,
the bulletproof handbag. And you don't have one yet, Okay,
maybe you will in the future. Five minutes now, seven o'clock.
Speaker 1 (37:48):
Taking calls on one, one, eight, three seven notes.
Speaker 3 (37:53):
Is time for the Friday bis billets on The Money Show.
Speaker 2 (37:56):
You know how it works. We ask a question.
Speaker 3 (37:58):
If you get it right, we move on to the
next question. If you get it wrong, we move on
to the next caller. First question tonight on O double
one double A three oh seven oh two and two
one four, four, six, five, six seven.
Speaker 2 (38:09):
Which car maker.
Speaker 3 (38:11):
Is set to take over Nissan's Roslin manufacturing plant. Listen
is selling it? Who are they selling it to? Which
car maker is taking over Nissan's plant at Roslin Oh
double one, double A three oh seven, oh two O
two to one four four six, five six seven. The
Money Show with Stephen Curtis is brought to you by
Absent Corporate and Investment Banking upan African bank that's invested
(38:34):
in your story because your story matters.
Speaker 1 (38:38):
No Money Show Friday Bus list.
Speaker 3 (38:41):
Which car maker is set to take over Nissan's factory
at Roslin. Let's start with Adele in Santan Adele high h.
Speaker 2 (38:50):
The answer is cherry Adele, of course it's cheery. Yes, okay,
second question here we go.
Speaker 3 (38:55):
NED Bank has announced plans to expand its footprint in
East Africa. It's buying a controlling stake in which regional
banking group. Which bank are they buying in East Africa?
Speaker 2 (39:11):
Adul Well, I don't know that one.
Speaker 3 (39:13):
Sorry, sorry, Adele, Thank you for trying. Cindy in Santon, who.
Speaker 9 (39:18):
Is bank in India?
Speaker 2 (39:19):
I think I say it again? Say that again.
Speaker 7 (39:23):
It's in India?
Speaker 3 (39:25):
No, no, no, Then I need the name of the
company that they're buying in the companies. The bank is
in East Africa.
Speaker 4 (39:31):
No, I don't know, Sorry, Cindy.
Speaker 3 (39:35):
Let's try Everton in mid Rand. Everton ned bank they're
buying a controlling steak and which regional banking group?
Speaker 7 (39:43):
Can your interview.
Speaker 2 (39:46):
Everton? Yes it is.
Speaker 4 (39:49):
Okay.
Speaker 3 (39:50):
Next question, which South African retailer is facing a backlash
from shareholders because they're buying a retailer in Europe. We
had a big focus on this list week. Which South
African shopping chain retailer they sell clothes is facing a
big backlash because they are buying one in Europe?
Speaker 5 (40:10):
They are buying on eup.
Speaker 9 (40:12):
Oh no, I think I go ahead?
Speaker 3 (40:17):
Okay, Sorry Everton, thank you. You're gonna kick yourself because
there's been lots of talk about this. Oh double one
double A three oh seven O two two one four
four six five six seven. Which South African retailer has
been facing a backlash on the proposed acquisition of a
European retailer.
Speaker 2 (40:34):
We are hitting into news time. Am I giving the answer?
I'm gonna force you to google it? Hmm, Shall I
give you the answer? Waiting for signals here?
Speaker 3 (40:45):
It's mister price, you're the money show at seven o'clock
And now The Money Show with Stephen Credits on seven
oh two.
Speaker 2 (00:06):
Let's walk little.
Speaker 3 (00:07):
The Money Show with Stephen Curtis is brought to you
by ABS of Corporate and Investment Banking, a Pan African
bank that's invested in your story because your story, mattter
is eight minutes after six. Good evening, Welcome to the
Money Show this Friday night. Have you enjoyed depending on
when you get paid. If you get paid on the
twenty fifth, there's a strong chance because it falls on
the Sunday that today was the end of January. Just
(00:28):
a reminder, I know it's Friday, I know it's been
a long time. Please wait for the debit orders to
go off first, wait for all the sms is to
be done, which will probably only be Monday and Tuesday
by the time that that happens. So just please, if
you're finally celebrating the end of January because you got
paid today, just remember that the debit order is still
to come as you go through.
Speaker 2 (00:51):
Well.
Speaker 3 (00:51):
In a moment, we do to speak to the CEO
of of the Industrial Development Corporation, Majoreschi Lekete. She's been
in Davos this week. This week and then just talk
to her about so how difficult it's been to sort
of punch through the noise. I'm also interested in some
of the trends that we're seeing in development banks where
they're putting their money, that kind of thing. Big changes
(01:11):
coming up the JS. They're changing some of the listing requirements,
basically making it easier to list. We'll speak to Andreas,
the director of issuer regulation at the JAC, about those
requirements and what's changing. Big news today about Cherry SA,
the automotive company. They're buying Nisson's factory at Roslyn. Cherry
(01:32):
is a Chinese owned company. It is part of the
sort of changes we're seeing. But also how is it
that they're going to make money while Nissen can't. We'll
speak to We'll speak to Michael Pushatt about that, and
then Clomelo Inlouza, the founder of HN Luxury, and how
he's made money in the handbag market. That'll be your
(01:54):
Friday file in about half an hour from now. Good
to hear from you double one double A three oh
seven two two one four four six five sixty seven,
and of course always good to hear from you on
seven two seven oh two one seven O two.
Speaker 1 (02:07):
The Lanly Show with Stephen Krutis live on ninety two
point seven and one O six FM, streaming on the
Prime Media Plus NAP and DStv channel eight five six.
Speaker 3 (02:18):
Well the dust and I presume the snow beginning to
finally settle in Davos as the World Economic for a
meeting their winds up. There was the explosive speech by
the US President Donald Trump, the appeal by the Canadian
Prime Minster Markkani for Middle powers to work together. I
think for us in a way, the major focus of
Davos probably to try and show the world that change,
(02:39):
that things are changing for the better here and that's
South Africa amidst everything that's going on is probably a
pretty good place to invest. Please to tell you now
that on the line from Davos, as the CEO of
the Industrial Development Corporation, Mahjoschi Leaket Makhoshi, Good evening. I'm
glad we've been able to make contact with you this week.
With everything that's been going on, ad asked, did you
(03:01):
get a chance to make the investment case for South Africa?
Speaker 4 (03:06):
Good evening, Stephens. Indeed, we had an opportunity to make
a case for South Africa as an investment destination, ably
led by our minister in a god a very good
story he told because as you will know, South Africa
just concluded it's chairship of the G twenty, which went well.
(03:30):
The credit rating has been upgraded by SMP. We've been
removed from the gray list and the blacklist of the EU.
So the story is indeed good and we're able to
articulate that as Temsa in Davors.
Speaker 3 (03:45):
We know that sort of global trade is kind of
being rewired in a way. Have you seen any obvious
opportunities for South Africa? Anyone say anything that's that that
you sort of saw and you thought, oh, that's a
big opportunity for South Africa. We need to start looking
in that.
Speaker 4 (04:03):
For me, the interesting focus has been on regional economic
trade across the African continent. I think people the investors
still look at South Africa as a good partner for
their investment decisions as they look into the rest of
the of the continent. Indeed, the world is changing fast.
(04:28):
Regional dynamics are really changing as well. So you know,
I see this as an opportunity for us as Africans
to ensure that the African continentals we Trade Agreement WAX
and that it is based on rules reliability and I
believe that through that we should be able to attract
(04:50):
the investments not only for South Africa but for the
rest of the region.
Speaker 3 (04:53):
Is there anything in particular that you can see that
you think our government needs to do to improve our
investment story that would make bring the track more capital here.
Speaker 4 (05:05):
I think the story has been well articulated in terms
of the reforms that.
Speaker 5 (05:10):
We did in energy.
Speaker 4 (05:13):
Everyone I mean everyone that I met congratulated South Africa
and especially es COM for keeping their lights on. The
second point that was made was with the improvements that
have been made with logistics and parts. Those two I
think had a whole lot of costs to doing business
(05:36):
in South Africa amongst others, and there was and there
is an appreciation of progress.
Speaker 3 (05:43):
You would have touched base with people at DEVASA in
the same space as you, by which I mean people
who run development financial institutions like the IDC. Have you
seen any trends where institutions like yours are focusing their
lending I mean any particular type of projects, type of
project that you can see development banks are focusing.
Speaker 6 (06:03):
On infrastructure is a big enabler, you know, as the
I d C we are focusing on regional belluy chains
across the region but also in South Africa and.
Speaker 4 (06:18):
Do we have recognized which is why we've taken a
decision to also amongst others, be counted as those that
are investing in infrastructure. And there is a huge focus
on AI and digital transformation. But AI requires energy, AI
(06:38):
requires capital intensive and it's also data intensive. So infrastructure
is one area where we are all coed listening to
say how best do we partner to scale up infrastructure
financing Mahoshi.
Speaker 3 (06:56):
There has been reporting this week that US the I
d C R and talks of little Metal about some
kind of transaction. And I'm sure you're going to tell
me you can't say anything about it, which I mean
I'll have to accept.
Speaker 2 (07:07):
I understand that. Let me put it to you like this.
Speaker 3 (07:09):
Are you expecting some kind of announcement soon one way
or another.
Speaker 4 (07:15):
Absolutely, we will have an announcement soon.
Speaker 5 (07:20):
I can't say more than this.
Speaker 3 (07:22):
Okay, you've given me more than I thought I would get,
so thank you very much. Indeed, have a safe trip home.
Majorche Lekete on the line from Davis just going a
QUARTERPAS six.
Speaker 2 (07:31):
The Money Show Explainer confirmation.
Speaker 3 (07:35):
This week the Financial Sector Conduct Authority is confirmed or
approved new listing requirements for the JC. The JC is
currently in the middle of what it would call a
simplification project. The idea is to remove some of the
requirements which maybe are overly onerous. Andreafaser is the director
of issuer Regulation at the JAC. Andre good Evening, So,
(07:56):
your main aim has been to simplify everything. There's quite
a lot list of changes that you've made. What for
you do you think are the biggest changes, the most
important things that you've simplified.
Speaker 7 (08:08):
Evening Stephen, Yeah, I think the main focus of this
project was to simplify things, as the project name suggests,
and I think what we've done through this initiative is
to basically look at every single provision we've got. We've
removed complexity as much as we can, We've removed ambiguity,
but at the same time made sure that we maintain
a proper level of investor protection to appropriate disclosure to
(08:30):
investors if you had to ask me. But the main change,
I think, certainly, the one that would stand out is
the fact that we've expanded our fast tracked listing process,
which basically now means that companies from international stock exchanges
eighteen international stockage changes will now have much easier access
onto the JERZ and that would obviously provide more investor
choice and allow a local investor to invest in those
(08:53):
companies on the JERZ. That efficient process will go a
long way in attracting new listings onto the market.
Speaker 3 (08:59):
Point and you're doing a whole lot of investigations and
all the rest of another regulator's already done it. I
suppose you've removed some requirements and you've eased others. What
impact do you think that's going to have to trading
on the JS I means so, for example, it's probably
easier now to do a share buyback than it was.
Do you expect that companies are going to take advantage
(09:21):
of a little bit more freedom you've given.
Speaker 7 (09:23):
Them, Steven, We certainly believe that the platform and the
framework would be now would be available to the companies
to take advantage of that, and certainly issues like capital
raising that will be able to do much more efficiently
with appropriate threshold in place buybacks, as you've mentioned, I
think those issues will certainly lead to cost reductions for
(09:43):
companies in terms of compliance. It will certainly lead to
much more efficient capital raisings and at the same time
providing vestors with proper disclosure and investor protection.
Speaker 3 (09:53):
I mean, one of the questions whenever someone makes a
big change like you've done and remove some requirements, so
you immediately ask, well were they important in the first place?
And I realized that stock exchanges evolve and the JAC
is a big part of that, and this is quite
a big evolution in a way. But I mean there's
always a question if a regulation was important enough to
(10:14):
be brought in, why is it now so unimportant that
it can be removed?
Speaker 7 (10:20):
And I think that's a very good question. I think
we've managed through those process to establish the right balance
and the reason why that's so important from a Jersey perspective,
as we recognize that if we want to attract international
companies and international capitals, we need to have a framework
where investors can trust that framework. So we've through the
consultation process not only engaged with companies, but very importantly
(10:43):
also with investors and sponsors. So we think the final
product that we've got now strikes the appropriate balance where
we would make things easier but still at the same
time maintain investor protection.
Speaker 3 (10:55):
So you want to obviously make sure you're attractive to
companies who want to get capital. You have done this before.
Speaker 7 (11:01):
Now, Stephen, I think if you look at the reforms
we've introduced over the last five years, specifically, I think
this phase of the changes, being the simplification phase, is
part of a broader range of changes that we've made.
If you look at market segmentation at introduced in twenty
twenty four, you know, trying to make it easier for
(11:21):
companies listed on the main Wall, specifically smaller companies that
certainly played a significant part in making sure that those
companies are able to maintain their listings on the Jersey.
And then we obviously we had the cutting red tape
initiatives earlier, where we've introduced reforms to allow new types
of companies like SPACs dual class shares onto the Jersey.
So we think this is not a once sort event.
(11:44):
We've made significant changes and this part of the phase
is basically to modernize our listing's framework, and it's part
of our broader strategic objectives of creating an enabling environment
can not only attract new listings onto the market, but
also to maintain listings that are currently on the exchange.
Speaker 3 (12:00):
Do you think there's still major differences between your requirements
and the requirements of other exchanges in other countries.
Speaker 7 (12:08):
No, Stephen, I think we've moved much closer to our
international peers over the last couple of decades, and I
think this is an important phase in that in that process.
You know, when we add additional exchanges onto our list
of approved exchanges, we don't just do that by adding
a name. We actually do a proper sessment to see
what their framework looks like. So we've gathered lots of
insights over the last couple of years in terms of
(12:30):
international exchanges, and we think we are in many cases
ahead of those exchanges in terms of innovation with our
listing requirements and in many other respects on the same level.
So I think it's putting the Jays he certainly on
par with most international exchanges.
Speaker 3 (12:48):
Andrew, thank you so much, really to appreciate it. The
director of Issuer Regulation at the JZ twenty one after six.
Speaker 2 (12:54):
The money so with Steven on seven oh two seven o.
Speaker 3 (12:58):
Two confirmation Cherry Essay is buying this insfactory at Roslyn
they'll acquire the stamping plant, they do, the land around it,
and obviously be in a very good position to manufacture
or assemble cars there. Michael Pashot is the paschet rather
is the owner of Change Cars, host of the podcast
Keep It or Change Cars. Michael Good Evening. I appreciate
(13:19):
the time. There's been rumblings of this for quite a while.
Is this a big opportunity for Cherry?
Speaker 8 (13:25):
Absolutely, so Good evening, Stephen Good Evening to the listeners,
and of course thank you for the opportunity.
Speaker 9 (13:30):
Let me tell you there's.
Speaker 8 (13:31):
Not one single negative around. If not a negative for Messin,
not a negative for Cherry, and not a negative for
the South African population. That's fantastic news.
Speaker 2 (13:42):
Okay.
Speaker 3 (13:42):
I mean Cherry is quite a big company. They have
sort of I think it's three or three brands underneath them.
But the obvious question is Misson was shutting down production.
They want to open production in the same place. Why
is Cherry quite optimistic about making money and this and
not for sure?
Speaker 8 (14:00):
It's a very good question. So let's look at this
in its standalone form. Since nineteen sixty six, Nissen has
been in South Africa, So thank you to them for
sixty years. I cure you. I'm not a a thisen
PR person, but sixty years it's fantastic. They've built an
incredible facility in Roslan and BMW also produce in Roblin. Now,
(14:20):
from a Cherry point of view, they don't have to
go build a new factory. The factory is already there.
You're being new tooling.
Speaker 9 (14:26):
That is required.
Speaker 8 (14:27):
Fantastic. That's great for the economy, and they gain too,
from what I understand, retain the vast majority of the
this in workforce. So, like I said at the top
of the show, there's not one single negative. You asked,
why do I believe this in will? Thus apologies, why
do I believe Cherry will be able to make it
work when Thissen didn't. In the last couple of years,
(14:48):
Listen has only been producing the very popular Navara there
where Cherry are going to be producing from what we understand,
three four or five different ranges there. So the need
for the tool the needs for the staff will be there,
whereasins And unfortunately couldn't justify the investment anymore only producing
(15:09):
one vehicle.
Speaker 3 (15:10):
This is about scale in a way, isn't it. If
you're if you're able to come in and produce a
lot of different vehicles, Well suddenly it's worth it. If
you're just producing one, it's not correct.
Speaker 2 (15:20):
Correct.
Speaker 8 (15:21):
So let's look at this on a Cherry point of view.
They've been here twenty twenty one and a lot of
people and myself included you mentioned, we've got the podcast.
I've always wanted to see the Chinese entrant invest in
our country like Toyota have, like VW have. Now they're
putting their money where their mouth is. Cherry the top
(15:41):
ten seller in South Africa. I think they're going to
become a top five seller after this.
Speaker 3 (15:48):
I mean it's always in South Africa. If you look
at the cheapest car on the market and the best seller,
they're usually the same one. We've seen cheaper cars from
India and China disrupting our car market and it seems
to me that process isn't finished yet. We buy cars
as being disrupted by this. Motus is the latest one
to be disrupted by this. But we also see that
(16:10):
China's car exports went from just one million in twenty
twenty two, I think it's six million this year.
Speaker 2 (16:16):
Incredible, Yeah, it's amazing.
Speaker 3 (16:18):
So the question then is can you, even if you're Cherry,
produce cars at Roslin for a cheaper price than people
can produce them in China, Because if you can't, in
the longer term, we're just not going to have a
car industry.
Speaker 8 (16:32):
Well, a very interesting point, So let's look at it
from Cherry's point of view. What is the advantage for
them importing cars that are coming on ships. That's very
logistically challenging. But I do believe they'll be able to
produce them in South Africa cheap and again not a
fact I'm saying, I do believe. But you mentioned about
the country's major players being disrupted by the Chinese imports.
(16:55):
You take Motives that you mentioned. They are the only
major motor group that failed to embrace the fact that
the Chinese were yere to stay and deservedly so, and
they are under massive, massive pressure. But I'll say again
what you mentioned at the top of the show. This
is only one division of the Cherry brand.
Speaker 9 (17:14):
In South Africa.
Speaker 8 (17:15):
You also have a Moda Jku and an incredible jatur brand.
It's only a matter of time before the subsidiaries will
see the same opportunities. And I believe that Roslin plant
is going to.
Speaker 3 (17:27):
Expand it does look like it, so for you, there
is still a future for the South African car industry.
Speaker 8 (17:35):
Oh, no question. The South African ka industry last year
did roughly six hundred thousand vehicles and that is an
absolute record to the best of my knowledge. But it's very,
very buoyant and it's just going to continue to grow.
Speaker 3 (17:48):
There's no question as a buoyant Michael Pasha, thanks very much. Indeed,
owner of Change Cars and host of the Keep It
or Change Cars podcast. Twenty six minutes after six No
Money Show, Intia's Pullman is portfolio manager at Centtio Capital
in Tias. Good evening to you. I don't really know
where to start. So often I've started the segment with
(18:09):
gold and I feel I kind of need to do
it again. We're just what thirty dollars of Yeah, we're
twenty seven dollars of five thousand dollars anounce at the moment.
Speaker 9 (18:19):
Yeah, good evening, Stephen, adding what we're seeing this week
is one of the strongest weeks for goals since twenty twenty,
and it's been a phenomenal run. Solver has just broken
through that one hundred dollars an ounce level, and I
think gold will follow suit to that five thousand dollars.
And there's been a number of factors that's been driving
this phenomena. You know, we've seen very strong buying from
(18:41):
central banks of gold as they diversify their reserve assets.
And gold has been a momentum trade, so there's been
lots of flows into gold back exchange traded funds, And
just to put that into perspective, we saw about four
billion dollars of flows into goal ets in twenty twenty
four and last year that number jumped to eighty nine
(19:03):
billion dollars, so phenomenal momentum trade as well as invested
concerns around the longer term prospects for the dollar.
Speaker 2 (19:12):
Platinum up again as well.
Speaker 3 (19:14):
Volterra had an update today they say their earnings will
be up by one hundred percent.
Speaker 9 (19:19):
Yeah, and again this has been on the back of
a very strong platinum palladium in roleum price, which typically
is what these platinum companies mind. And if you look
at those PGM metals last year until November, from June
to November, it was up twenty percent, and since then,
from December until today, that's up a further sixty percent,
(19:42):
so very strong earnings on the back of a very
strong PGM basket price which has folded. True in terms
of Voltaire's earnings, you see that they did rely some
cost savings as well, which comes through typically with regards
to a lower oil price, and some saving is that
they've managed to generate. So again I think, you know,
(20:03):
if these prices sustained, you should see a further increase
in his earnings going forward. For the fully as well.
Speaker 3 (20:10):
There was a five billion rand savings and operations costs.
I mean that's huge, it's massive.
Speaker 9 (20:16):
I think a lot of that is the lower oil
price that they've managed to save, that costs fund that regard,
but also they also emerged from Anglo American and there
was one soft cost that have come through and those
won't RecA going forward. So a very strong operational performance.
Speaker 3 (20:35):
A true words were down today that that update just
after the market closed yesterday. The British operation doing okay.
They seem to be battling in South Africa. I'm not
entirely surprised when you consider the competition in clothing.
Speaker 9 (20:47):
Yeah, definitely. You know, if you look at truards, it's
very reliant on credit seventy percent of its sales in
South Africa are done on credit, and if you break
down the sales, credit sales were down more than care sales,
which just shows that the consumer is still in a
tight spot. We did have the two pots system and
(21:09):
those playouts come through in twenty twenty four and both
regards to the base that was much higher. So I
think a very constrained environment. Consumers certainly looking for value
where they can, and we have a lot of strong competitors,
and you also have the Chinese players Sheen and Timu,
which are also taking market share from the local players.
Speaker 2 (21:31):
So scidifica is tough.
Speaker 9 (21:33):
But the UK did perform adder and that has gone
quite nicely in through its stable to make up almost
half of their profits currently.
Speaker 3 (21:42):
The sentiment of the market at the moment, I mean,
with such strong gold prices that it all looks a
little bullish, people sort of talking about our economy kind
of pointed in the right direction. I don't know if
that's coming through to other shares yet.
Speaker 9 (21:53):
Though it's come through in terms of the banking shares.
We did see a of a rally that started towards
the end of last year in the essay. Bank companies.
The retailers, as we've just spoken about, have been a
bit challenge, but I think the market is always forward
looking and we do have several factors pointing in the
(22:16):
right direction. One is lower inflation, and then on the
back of that, we have lower interest states, and I
think we could expect interstates to be cut further this year,
which would be another impetus for consumer spending. And then
thirdly you've had the rand which has been very strong,
so that does bode well for margins of these closing
(22:37):
retailers in discretionary retailers, which will allow them to find
cost savings, although that revenue line might be challenged and
valuations are not stretched starving that is certainly there's some
tailwinds that have come through for the South African economy
which should folter down through the rest of the market
(22:57):
outside of the resource sector.
Speaker 3 (22:58):
In Tel Slimon, thanks very much, indeed, really appreciated portfolio
Portfolio Capital at Sentio Capital.
Speaker 2 (23:05):
Just after six thirty.
Speaker 1 (23:08):
Stephen is on the Money Show six to eight pm.
Speaker 3 (23:11):
Twenty two minutes to a seventh time. Well, the kind
of business problem that doesn't happen to everybody, and yet
is very very difficult to fix occurring. It seems in Iran.
For MTN they own mt and Iran cell they own
forty nine percent of that. There is a direct shareholder,
a majority shareholder that owns fifty one percent. That is
(23:32):
sort of as is often the way in Iran, kind
of through a company that is sort of controlled by
the military, sort of the way to describe it. Now,
as the it seems that the CEO of that company,
of the cel phoned company, Alereza Rafaye, has been removed
from his post without the forty nine percent shareholder even
(23:53):
being told. So EMPTN didn't know. What's fascinating is the
reason why he was removed. He was removed because the
military told him to basically switch off his cell phone
network to stop communications in Iran as the protests started.
The protests there, we know from what we understand claimed
I think at least two thousand lives, as some suggestions
(24:14):
it could be as many as five thousand. And you
know of course that the security forces there will have
used violence against these protesters as well.
Speaker 2 (24:23):
It seems that Provide took two hours.
Speaker 3 (24:25):
To switch off the phone network and as a result
of that, he was removed without the forty nine percent
shareholder being removed. The other problem, of course for MTN
is communication with Iran right now is incredibly difficult. But
just a reminder of how difficult it is to do
business in some parts of the world. Something similar happened.
The CEO wasn't removed, but there was a little bit
of a discussion about it during protests in Eswatinia about
(24:48):
three or four years ago. I think was MTN as well,
who as part of their license condition, had to comply
with an instruction to switch off their data transmissions, to
basically switch off your sofpone data through the network. If
you're in Satiny and this does happen, I imagine there
are similar license conditions in South Africa. If, for example,
government wants to know and there's an a legitimate court
(25:09):
order who made a phone quarter who when well, they
would have to give up that information. It's a very
complex thing for cell phone networks to manage. I would say, though,
on balance, while you might be quite frustrated with the
sel phone network that complies with a government instruction like that,
cell phone networks generally lead to more knowledge flowing and
(25:30):
therefore more democratization. If I can use that phrase, and
we shouldn't forget how important there might be in that
your views. Oh seven two seven oh two, twenty minutes
and out to seven.
Speaker 1 (25:42):
The Lonely Show with Stephen Krudis live on ninety two
point seven and one O six FM, streaming on the
Prime Media Plus NAP and DStv channel eight five six.
Speaker 3 (25:53):
On the Next Money Show, we're joined by Amanda Kromhote,
the CEO and founder of Truth, a leading customers sent
and loyalty consultancy. She'll share her journey with you on
how I make my money. In our business book feature,
we speak to Matthew Parks, Becausarto's parliamentary leader about the
latest book he's been reading and why I grabbed his attention.
And of course we'll bring you expert analysis of the
(26:16):
day's biggest business stories.
Speaker 7 (26:19):
For the Many Show The Friday.
Speaker 3 (26:21):
File File sixteen minutes to seven. So what is it
when you're looking for a handbag? What is it that
you look for in a handbag? And I don't mean
your purse, I mean what is it that you're looking
for when you're choosing a handbag. I think you want
something that looks pretty good. I think you might want
something that is practical, something perhaps that maybe makes a statement.
(26:43):
They're those things you go to those events where you
do need to make a statement. I hadn't thought that
what people might look for is a handbag that does
all of those things and is actually also bulletproof. Turns
out such a thing exists. It's made by h N Luxury,
(27:04):
and the founder of h in luxtually is a Romelo
loser Forromelo. Good evening, Thanks so much for taking the
time to talk to us tonight, greeting.
Speaker 5 (27:13):
To use thisten and to all the servin or two listeners,
also the Human Application members and believers, and thanks for
having me.
Speaker 3 (27:24):
I can see Friday is going nicely. There's so many
different sort of handbags on the market, Romelo. They're made
by lots of different people. You've made yours a bit different.
They send a different kind of statement. They have a
different I want to say, look, but I think maybe
feels at a better word, a different I mean, certainly
(27:45):
a different vibe. Where do you get the inspiration from?
How have you made yours stand out?
Speaker 5 (27:52):
Thank you so much for that question. So growing up
I realized my purpose on earth, which is to empower
other Peo people through my imagination. So last year or
three years that I think I've got a beautiful idea
of a bag that makes the hand disappear into the
(28:12):
bag when the child. And after I got that, I
don't take my dreams lightly. I made sure that I
partner up with a lot of artisans to make sure
that I make all of the ideas that I get
from my dreams to the dreams that I have when
my eyes are wide open, So all of those ideas
(28:33):
will come. Most of them they come around three o'clock
when I'm sleeping and I have to wake up and
make sure that I draft and make sure everything suspects.
But most of it it's inspired by my purpose and
inspired by also my tribe, which is cross the tribe I.
Speaker 3 (28:51):
Was going to say, I mean, Kelly, your heritage is
a big part of what you're producing now and maybe
the sort of defining part.
Speaker 5 (28:59):
Yeah, yeah, definitely, because the monogram of the luxury bags
is inspired by the Crosser truck, as I did mention,
and I got that from a dream as well.
Speaker 3 (29:09):
So yeah, do you think that your bags are conveying something?
There's a sense of self that other people identify with
the may they then want that message. They want to
send that message themselves through your bags.
Speaker 5 (29:26):
So yeah, one of the reasons why I like doing
things differently is because I want the people that who
consume them to stand out. Yeah, most of all, because
everything that I do, I make sure that it's unique
in such a way that even if maybe someone carries
a bag from overseas, they will feel that I thought
(29:47):
this was wet it, but that's what it's great. So
I want them to stand out, and I want them
to know that Africans can create beautiful things, especially with
the fact that our the main manufacturer that you're working
with is an African French trained craftsman. So that's one
(30:07):
of the reasons why the pads are so beautiful. By
the way, I had to go through twenty artisans over
a year to find the perfect line. So yeah, I
just want them to stand out, and I just want
them to enjoy being different and also their successes by
purchasing agents.
Speaker 3 (30:23):
No, sure, Promelo, I've got to ask about the idea
of a bulletproof handbag. I'd never heard of such a thing.
I see, I don't think you might not be the
only person who makes it, but I mean, what is
the sort of attraction. Is it to protect you, know,
your phone in the event of an emergency or was
it to protect you?
Speaker 5 (30:42):
So what happened last year is that I was just
relaxing in my space and Soto around I think four am,
because I to literally wake up around three am and
write down I didn't all of that. And then as
I was about to sleep, someone trying to break into
my room. They broke the butler and after prisoning the packer,
(31:05):
they tried to kick the door open, but I was
saved by this other friend of mine that I stayed
it at that time with James because he kept from
pushing the door. And someone tried shooting, only to find
out that it was a blunt gun. Thank god shooting administrate.
And then I was like, since I don't have a gun,
(31:26):
I felt so bad that I didn't have anything to
protect myself with. Since I decided to create a Laxady
that that is bullet proof and was gifted by a
shot at by a South African champion shooter and the
bullet didn't go through three times.
Speaker 2 (31:45):
It was short that you needed a champion shooter. It's
not a big jog.
Speaker 5 (31:54):
But we do have a version of the bags now
that is bigger, like as big as a backpack, so
one can cover the head and the hot area.
Speaker 3 (32:05):
Are they popular? I mean, they're not cheap from Melow,
I'm afraid to say. I mean, I know very little
about handbag, so maybe they are and I'm just I'm
just living in the dark ages. But I mean, do
you do are people particularly interested in the bulletproof handbag?
Speaker 5 (32:19):
So something very bad happened last year and I only
realized it around September. So when I released that particular bag,
I'm close to nine thousand people wanted to purchase a
by clipped on the by now button, but not a
single sale went through because with the people that I
have outsourced to create the website, there was a little
(32:42):
coma era that blocked all of those selves from going through.
So I ended up losing my breakthrough millions, if I may.
But now in the process of trying to get more
investors and trying to introduce the bags into the American
and the global market, because there's currently a company that
(33:03):
is going to release the bags in one hundred and
fifty countries. So they were popular, I could have been
a millionaire by now, But there was a tiny coma
era in the website coding that blocked people from purchasing
the bags.
Speaker 3 (33:16):
So, yeah, does the bulletproofing I mean, you know America
is mad about guns. I'm sure they'll do well. Is
the bag that's bulletproof? Is it much heavier than another bag?
Speaker 5 (33:29):
It's it's very light, to surprise, because we're using not steel,
but we inserted kevlar inside the bag, which is very
very light material that is made out of different types
of fabrics that are astecked into one piece. So when
you hold it very lightly to surprise and bullets don't
(33:52):
go through literail.
Speaker 3 (33:53):
Does it change the way the bag feels. I mean
it must do, because you've got kevlar inside it. It
must feel the from two every other handbag I've felt before.
Speaker 5 (34:05):
To be quite honest, you don't really feel that it's
like a bag that have got this, say, especially with
the one that is a backpack and that's the same
for nine thousand. It's like it's like it's like a
bag with a laptop.
Speaker 2 (34:18):
Yeah, yeah, no, no, sure, yeah.
Speaker 5 (34:20):
It's not that it's not. And what that can do
is it's amazing, especially now that sometimes there can be
a lot of bad things aten in in South Africa.
Speaker 3 (34:30):
No, of course, I've noticed in the handbag industry recently
that there's quite a big resale market. So someone will
buy one, they will use it for a while, use
it at a few events, make their statements, sell it
on and then use the money to buy another one.
Speaker 2 (34:52):
Is that happening with your bags? Do you know?
Speaker 9 (34:56):
So?
Speaker 7 (34:56):
Yeah?
Speaker 5 (34:56):
First I did mention that we on our way to
recoup everything that you've lost. I'm sure it's going to
happen because the brand HN in the past three month
has grown by one hundred percent. So if someone really
wants an investment, please especially with the bag, because the
premium bag, I'm not sure if you saw it has
got rails fine art that is presented in a glory
(35:19):
type of banana. So obviously with fine art by South
African fine artists, the value of art appreciates. So obviously
a bag that you can buy now, let's say for
nine thousand or ten thousand, maybe in the next two
years it's going to be worth around thirty and maybe
in the next ten years around more. Because obviously as
(35:41):
a brand is going and obviously the brand value as
well grows.
Speaker 3 (35:47):
So yeah, and the and the market for luxury bags
in South Africa remind my sense of it is that
that Aligan must be quite a big, quite a big market.
How big do you think it could be? I mean,
and I would think that that people who are going
to spend money on a handbag, they're going to look at,
you know, designs from Europe and look at designs from here.
(36:07):
You will stand out. There must be quite a big
market for designs that are obviously South African in your case,
obviously cause a handbag.
Speaker 5 (36:17):
South Africa is booming, especially with the fact that the
Cross the tribe, for instance, has been featured on the
language has been featured on Black Panther, and like with
social media, a lot of people are starting to crevitate
towards Africa. It's big because when I remember when I
released the bag in March, we were featured in a
lot of international media interviews from Australia, Mexico, London, Middle
(36:43):
East and New York, New York as well. I was
also invited to be a part of the Hampton Special
week So and even Miami Miami Magazine was like Meet
the heating was Meet the New Place of Globe one Luxury.
So it's a big, huge market, and people are tired
of seeing the same old monograms and the same old
(37:08):
designer bags, and especially with the fact that they don't
put much effort when it comes to their design. So
I think one is one of these newspapers that were
covered in from overseas. H h end cimlins A luxury
bags could be the African answer to him, is they
actually huge market billions? No?
Speaker 3 (37:29):
Absolutely, Clomello, thanks so much. I really enjoyed talking to you.
Learned a lot from that. Clomelonia Loser is the founder
of h N Luxury talking about handbags on The Money Show,
the bulletproof handbag. And you don't have one yet, Okay,
maybe you will in the future. Five minutes now, seven o'clock.
Speaker 1 (37:48):
Taking calls on one, one, eight, three seven notes.
Speaker 3 (37:53):
Is time for the Friday bis billets on The Money Show.
Speaker 2 (37:56):
You know how it works. We ask a question.
Speaker 3 (37:58):
If you get it right, we move on to the
next question. If you get it wrong, we move on
to the next caller. First question tonight on O double
one double A three oh seven oh two and two
one four, four, six, five, six seven.
Speaker 2 (38:09):
Which car maker.
Speaker 3 (38:11):
Is set to take over Nissan's Roslin manufacturing plant. Listen
is selling it? Who are they selling it to? Which
car maker is taking over Nissan's plant at Roslin Oh
double one, double A three oh seven, oh two O
two to one four four six, five six seven. The
Money Show with Stephen Curtis is brought to you by
Absent Corporate and Investment Banking upan African bank that's invested
(38:34):
in your story because your story matters.
Speaker 1 (38:38):
No Money Show Friday Bus list.
Speaker 3 (38:41):
Which car maker is set to take over Nissan's factory
at Roslin. Let's start with Adele in Santan Adele high h.
Speaker 2 (38:50):
The answer is cherry Adele, of course it's cheery. Yes, okay,
second question here we go.
Speaker 3 (38:55):
NED Bank has announced plans to expand its footprint in
East Africa. It's buying a controlling stake in which regional
banking group. Which bank are they buying in East Africa?
Speaker 2 (39:11):
Adul Well, I don't know that one.
Speaker 3 (39:13):
Sorry, sorry, Adele, Thank you for trying. Cindy in Santon, who.
Speaker 9 (39:18):
Is bank in India?
Speaker 2 (39:19):
I think I say it again? Say that again.
Speaker 7 (39:23):
It's in India?
Speaker 3 (39:25):
No, no, no, Then I need the name of the
company that they're buying in the companies. The bank is
in East Africa.
Speaker 4 (39:31):
No, I don't know, Sorry, Cindy.
Speaker 3 (39:35):
Let's try Everton in mid Rand. Everton ned bank they're
buying a controlling steak and which regional banking group?
Speaker 7 (39:43):
Can your interview.
Speaker 2 (39:46):
Everton? Yes it is.
Speaker 4 (39:49):
Okay.
Speaker 3 (39:50):
Next question, which South African retailer is facing a backlash
from shareholders because they're buying a retailer in Europe. We
had a big focus on this list week. Which South
African shopping chain retailer they sell clothes is facing a
big backlash because they are buying one in Europe?
Speaker 5 (40:10):
They are buying on eup.
Speaker 9 (40:12):
Oh no, I think I go ahead?
Speaker 3 (40:17):
Okay, Sorry Everton, thank you. You're gonna kick yourself because
there's been lots of talk about this. Oh double one
double A three oh seven O two two one four
four six five six seven. Which South African retailer has
been facing a backlash on the proposed acquisition of a
European retailer.
Speaker 2 (40:34):
We are hitting into news time. Am I giving the answer?
I'm gonna force you to google it? Hmm, Shall I
give you the answer? Waiting for signals here?
Speaker 3 (40:45):
It's mister price, you're the money show at seven o'clock
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