January 30, 2026 • 34 mins
Stephen Grootes speaks to Rudi Dicks, head of Operation Vulindlela about the latest progress update on Operation Vulindlela, taking stock of where the reform programme is gaining traction and where momentum has slowed. The update reflects progress across priority areas such as energy market reform, freight rail and ports, water infrastructure, visa and skills reforms, digital migration, and investment and jobs in South Africa.
In other interviews, Lluis Dalmau, Economist for Africa & Middle East at Allianz Trade talks about Allianz Trade’s latest Collection Complexity Score, which shows South Africa remains one of the most difficult countries for debt collection and highlights the growing challenges facing companies recovering unpaid invoices both locally and globally.
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.
Thank you for listening to a podcast from The Money Show
Listen live Primedia+ weekdays from 18:00 and 20:00 (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk
For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe
Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc
The Money Show is brought to you by Absa
Follow us on social media
702 on Facebook: https://www.facebook.com/TalkRadio702
702 on TikTok: https://www.tiktok.com/@talkradio702
702 on Instagram: https://www.instagram.com/talkradio702/
702 on X: https://x.com/CapeTalk
702 on YouTube: https://www.youtube.com/@radio702
CapeTalk on Facebook: https://www.facebook.com/CapeTalk
CapeTalk on TikTok: https://www.tiktok.com/@capetalk
CapeTalk on Instagram: https://www.instagram.com/
CapeTalk on X: https://x.com/Radio702
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
And now The Money Show with Stephen scredits on seven
oh two. Let's walk little. The Money Show with Stephen
Crutis has brought to you by abs of corporate and
investment Banking, a Pan African bank that's invested in your
story because your story matters. Good evening, Welcome to the program.
I'm Stephen Curtis. Ten minutes after six the time, a
(00:21):
daymarked by such volatility, and I heard the words of
the World Gold Council ringing in my ears. You may
recall this time last night they were telling us that
they expected a lot more volatility and metal prices, and
so it showed gold losing ten percent of its value
on the day, still trading. Of course, there's still lots
of time for change, and a lot of it's sparked
(00:42):
by the first sort of leaking, the hint, then the
confirmation that the US President Donald Trump was appointing it
was appointing Kevin Walsh as the or nominating him as
the new chair of the US Federal Reserve to replace
their Jerome Powell. Very interesting to see the US market
reaction to that not as bad as you might have thought, Partly,
I think because Walsh has not seen as much of
(01:04):
a radical figure as some of the other people who
Trump was sort of looking at actually were. So I
think that's a big part of this, and sort of
where we are and why we're actually here at the moment.
I think that's a big part of this. Would you
to speak to Rudy Dix, the head of Operation volland Leila.
In just a few moments there's been a big report
back from him about what's happening at Operation Villan Leila,
(01:28):
how things are going, where the work, the new work
needs to be done, very interested in what the next
phase of it will be as well. Luis del Moore
is an economist for Africa the Middle East at Alliance Trade,
where it is difficult to get your debts paid and
certainly South Africa is one of those. So we'll hear
from him as to why that is the business of
(01:51):
parking a car at an airport. And I mean, you know,
for years I haven't tried to park a car there myself.
There's so many services now, so much cheaper than others.
We'll speak to the Kreme de la creme if you
like of that. We'll speak to first class parking. It's
not just about parking, it's all the other additional services
as well. Since you were Chares, he's the founder of
(02:13):
First Class Parking. Looking forward to meeting her and speaking
to her a little later on the program, and then
don't forget of course, we'll have the Friday bis Blitz.
I'll be very interested in your worst parking experience ever?
And where was it? I can think of some shopping centers,
but that some places just have the world's worst parking
and it's designed like that. You can see that's just
(02:34):
never going to improve. Other places just the way it's
managed is pretty terrible. So yeah, looking forward to all
of those conversations. But your worst parking experience please on
seven two seven oh two one seven oh two. Good
to hear from you as well. This evening on Double one,
double A three seven oh two two one four four
six five six seven twelve minutes after six they show
(02:58):
with Stephen on ninety two point seven and one six
FM streaming on the Prime Media Plus.
Speaker 2 (03:05):
NAP and DStv channel eight five six and one.
Speaker 1 (03:08):
Of the questions to ask around Operation volland Laila at
the moment is particularly around the issues to do with ESCUM,
because there suddenly is a lot of controversy around whether
there is in fact going to be a proper splitting
of ESKIM into three different parts, and there's some controversy
around that. I'm hoping we'll get a little bit of
clarity on that on The Money Show tonight stream. That's
(03:32):
on The Money Show six to eight pm. Well, Operation
volland Laila reporting today that around forty seven percent of
their reform actions are currently on track, around forty percent
of delayed or off track. One particular reform has been
properly completed. Rudy Dix is the head of Operation voland Laila.
You've heard so much about it on this particular program. Rudy,
(03:53):
good evening, Good to talk to you again. I suppose
probably the biggest difference Operation volland Laila has made to
South Africa since it started is the work it did
with others in helping to end load shedding. But behind
the scenes, our electricity market is changing dramatically. Some of
it has already changed, but there's still a lot more
to do. Really, Dicks, are you with us?
Speaker 3 (04:18):
Are you sorry about that? Steven?
Speaker 1 (04:20):
Sorry?
Speaker 3 (04:20):
Yes, a little bit disconnected?
Speaker 1 (04:22):
Ye, I'm sorry about that, not at all. I was
asking how much there is still to do with the
changes that you're making in the electricity market.
Speaker 3 (04:31):
Of course there are quite a bit of changes, but
we made some significant progress because ultimately what we want
to do is move towards a competitive market that requires
for us to do a whole series of things. For example,
in this year we'll be launching for South African wholes
an electricity market first and internal and then of course
trading externally, and that's the important thing about that. Around
(04:54):
that also, of course some of the more important parts
is significant unbinding or the restruction of SCOM and the
complete separation of transmission to create that a competitive market.
Last year we were able to get cred access rules
sorted out by NURSA and that's an important step to
allow for private sector to be clear on how they
(05:16):
deal with curing rules they get access to grid. But
more importantly, the National Transmission Company of South Africa was
awarded a traders operating operator's license you know as a
National Transmission company or South Africa. So these are important
steps and hopefully in this year we'll work towards setting
up that market, creating competition and of course in the
long run being able to create deep electricity for consumers
(05:38):
and for businesses alike.
Speaker 1 (05:39):
I mean it seems to me there's a bit of
a dispute now about how ESKIM is being broken up.
It's supposed to be broken up into three separate parts.
They're supposed to be a very neutral kind of system
operator who will buy electricity.
Speaker 4 (05:52):
Some of the.
Speaker 1 (05:53):
Skim's funders we heard this week are not happy with
the current plan. Is that going to delay proper reform?
It looks a bit like it is to me.
Speaker 3 (06:00):
Really, No, it's not a dispute, Stephen. I think it's
important that we've got to think through how one deals
today's press conference. You got to you've got to find
a mechanism to deal with some of the financial financial risk.
Separating these entities impacts on balance sheets, and we've got
to be fairly clear we don't want to create balance
(06:22):
sheet risk on separate entities and on the generational is
come holder. So we've got to work through these details.
And that's why I think it's important that someone are
saying that, well, some of us delay. Well, it's quite complex, right,
I mean, this is the thing we've never done these
things before. We've learned from from other countries. But you know,
you've got to death monitoring conditions tank in place, you've
(06:42):
got to do unbundling. We've been able to secure electricity.
It's rather the ability to get through some complex technical
aspects and for us to be able to ensure that
we don't pass on any risks to the sovereign or
to the on the National treasure or the government. And
so we've got to get through it. And I think
this is the most important part. I don't think it's
(07:02):
as I think the deadholders and many of the business
colleagues have raised the issues in relation to ensuring that
they're one full unbundling. That is the reform program that
we set out, and that's important for us to be
able to continue and ensure that we manage all outstanding risk.
Speaker 1 (07:20):
We've seen some improvements that transnit the Richard Bay coal
terminal reporting this week high volumes last year as a
result of the improvements. What do you think the next
priority is there? I mean, the big change is that
the ports and on the actual railway lines at the.
Speaker 3 (07:34):
Moment, absolutely, I mean, I think just importantly, you remember
this big dispute between the ording of a contact at
Durbin Container PIA Terminal two. That legal matter has been settled.
They have now formed a new COO remembered fifty one
percent transit forty nine percent but controlling management share of ICTSI,
the Filipino company. It is now called Durban Gateway Terminal.
(07:54):
So this newco has been established from the first of January,
we're going to see some improvements and investments in the
operational performance. It's east of the largest contained terminal on Africa,
largest number of volumes and that's an important part. Steps
in the rail reform are important. Also, you had seen
that we'd issued an RFI or request for information. The
Minister has made it fairly clear that she wants to
(08:15):
move as quickly as possible to go to market to
three to see whether we could get PSPs. If we
successfully implement the PSP for Urban Container Terminal, and it
looks like we've been able to get on a good footing,
I think it's important that we do go to market
for some of the other larger corridors to be able
to get private sectory investment. Ultimately that is improving the efficiency.
(08:36):
She set a target of two hundred and fifty million times.
We sort of now at stabilizing we got somewhere between
two sixty five and two seventy. Hopefully we can push
it slightly more towards the end of the financial year.
But a substantial amount of investment in bringing the network
up to speed, ensuring that we do the maintenance and
captics is going to be important and that has to
(08:58):
be built and kicked in to how we deal with
the PSPs and private sector operators. The one other plus
I think Stephen is that you know, we finally are
located seven slots to forty sorry, forty one slots to
seven operators thus far that were shortlisted, and that's quite
an important way. They will start you know open access
(09:20):
and actually running volumes in the next year or so.
That's an important open access private sector competing with TFR.
That's what we want to see and that's going to
be quite critical. Of course, the reform of separating again
very similar to SCOM. We've got to take infrastructure and
operations out because ultimately the infrastructure manager was going to
(09:41):
manage the infrastructure. Have to allow for you know, a
level playing field where the t TFR and private operators
in the same way, and that's an important part and
step stores that are going forward.
Speaker 1 (09:54):
I mean, really, so many people are talking about their
optimism for our economy this year, a lot of that
because of Operation Foral and Leader and the work you've
been doing there. Where for you is the next big
area of reform. What do you think is the sort
of key thing to do in twenty twenty six local government?
Speaker 3 (10:11):
Stephen. I think that's the major thing we've got to
fix local government. We've got to work really hard. It
is the most complex reform that we've been able to
look at. But I think the sort of headway that
you've made, particularly on the trading services and the incentive
and the ring fencing. The Octor Department is about to
(10:34):
publish the white Paper on Policy Changes on Local Government
that basically says, look, we've done this thing for the
past twenty five years. We've got to think about how
we improve inter government relations and stuff like that, and
then the sort of interventions that are going to be
imported around service delivery. But ultimately, I think that is
where it matters. You and I live in the city
(10:54):
where there's been failing services. Many attempts to try and
address this, but we've got to move towards improving the
service delivery, and that's what it is. We've got to
also finish this year. We've got to finish the reform
for electricity, because electricity. If we don't deal with the
reforms and ensure that the energies of images of cure
competition and we give an indication of clearly how we
(11:17):
bring down the price and the cost of electricity, then
I think these are particular potential at us that again
would impact on investor sentiment and investment going forward.
Speaker 1 (11:26):
Really, Dex, thank you for your time tonight. Really to
appreciate it. Head of Operation Willndela on The Money Show.
Speaker 5 (11:32):
The Money Show.
Speaker 1 (11:35):
I'm sure that at some point in your life you've
had to phone someone or send them an email and
demand that they pay you the money they owe you.
Collecting debts can be already frustrating and irritating business. Are
the Arms Trade releasing numbers this week showing South Africa
is actually one of the more difficult countries in the
world in which to collect your unpaid invoices. Louis delmo Is,
(11:58):
the economist for Africa and Middle East at Alliance Trade.
Lowis good evening. How difficult does it collect in South
Africa compared to what happens in other countries.
Speaker 5 (12:09):
Yes, Look, South Africa is among the countries, especially in
emerging markets, that is harder to collect debt. I think
what's interesting is that this report that we've been doing
over the last ten to twelve years, what we've seen
is that many emergent markets have actually been improving in
the way they can collect their AdPT but it's not
(12:29):
the case for South Africa. South Africa actually for the
last ten years that we've been doing this report continues
with the same score, so we see a lot of
improvement still needed when it comes down to debt collection
in the country.
Speaker 1 (12:42):
Sure, what makes it so difficult? I mean, what's happening
here that makes it so hard?
Speaker 5 (12:47):
Yes, So we look at different aspects of how to
collect debt. Within them, we look at the pile and practices.
We look also at local courts procedures and also at
local insolvency procedures. So we're actually looking at a range
of different aspects of that go beyond the South African economy.
(13:09):
It also goes into the legal aspects of South Africa.
It goes into some technicalities and so when all this
is combined it's when it shows us that actually South
Africa is it's still tricky to make those collections. However,
for instance, if we compare it to other emergency markets,
to China, it's still a bit easier in South Africa
(13:29):
to do so compared to China. So it also depends
on what countries you compare it to.
Speaker 1 (13:34):
I mean, I was interested to see that. So we
have endless conversations in South Africa about how long it
takes government to pay invoices to service providers. Does government
set a tone in a way, not just in South
Africa but in other places. What government does that's set
the tone for what companies.
Speaker 5 (13:52):
Do, definitely, because the government in any economy is one
of the largest players. And so a lot of companies
in South Africa, for instance, in the construction that are
working in new infrastructure, in infrastructure being built in the country,
are actually dependent on receiving that money from the government.
(14:13):
And so the amount of time that it takes the
government to pay for instance, construction firms, it's the amount
of time that it's going to take a firm to
maybe be able to pay its own employees or to
pay some other aspects or some other providers that they
need to take that infrastructure to put that infrastructure in place.
Speaker 1 (14:35):
You talk about all of the countries that you do
this survey, and you've been doing it for a long time.
Which countries have improved and how have they done it?
Speaker 5 (14:44):
Yes, we see, for instance, a lot of improvement in
countries for instance, that are currently not in a very
good place, for instance in the Gulf and also in Asia.
And basically the way that this has happened at the
end is is through a lot of different changes within
their legal structures in the way they have set up,
(15:08):
for instance, insolvency laws. And so it's not just it's
not just a quick fix. It actually takes time. It
normally also takes some laws being passed in parliament, so
it also takes political consensus. So that's why it's a
long process. But we do see that this can happen
if there is political will to do so.
Speaker 1 (15:27):
Do you see a link between how quickly an economy
grows and how difficult it is to to get your
debts paid? I mean, I would think if I were
running a company, the more quickly I get the money
that is legally owed to me, the more quickly I
can do other work, and that might be evidence of
an economy that's in a good place.
Speaker 5 (15:49):
Yes, definitely, there's definitely an impact on that sense. However,
it also has to be said that for an economy
to grow, it takes so many other things. For instance,
in the ranking, what we see these year, some of
the economies that are growing the most, for instance, the UEI,
the United Arab Emirates in the Gulf, it's one of
the countries that is going to have one of the
(16:11):
most successful growth in twenty twenty six. But also it
comes up as one of the countries with more difficulties
for debt collection. And why is that Well, because the
ue for instance, has not that type of legal structure
that you would expect for such a country developing in
the way it's developing. So I would say, yes, there's
(16:32):
links because of course being able to collecturate debts helps
adding company, but there's also other aspects related.
Speaker 1 (16:40):
I was interested in your finding about China because I
think we see China, you know, South Africa, we see
China visually a biggest trading partner, but also a country
with an economy that's been growing strongly for such a
long time. I mean, we all know the story as
to why. And yet from what you say, it's very
difficult to get your debts paid there.
Speaker 5 (17:00):
Yes, and actually and actually in the case of China,
it's not the overall score that it's worse than South Africa,
as I said before, but in some technicalities within the score.
And why is that relevance for South Africa, as you said,
because China is the first market for South African companies,
and then when South African exporters go out in the
(17:22):
world and go and sell to China, they have to
know that they're going to face difficulties. Why well, because
the structure of the legal procedures is also complicated there.
Because also, for instance, the day sales outstanding are also
pretty high and actually higher than South Africa, and so
(17:42):
there's a lot of complications. Having said that, for companies
that are already exporting to China, this is nothing new.
This stuff that they already face on a day to
day basis. For new companies, it's something that they have
to take into account. And I think this is relevant
because in the current context of trade war, in the
current context of fragmentation between the US and its partners,
(18:06):
with now the high terriffs that South African explorers are
facing to enter the US. South African explorers are going
to need to diversify if actually they want to keep
growing and selling to other markets and be competitive. And
so now these explorers that used to go to the
US and now might go to China, they also have
(18:26):
to know that they're also going to find difficulties. The
fact that China is growing at around five percent per
year or even a little less easier, they have to
know that difficulties still exist.
Speaker 1 (18:37):
Let me del move, thanks so much. Economists for African
and Middle East at Alians trade the Money Show. Danny
Duplin is the head of business development at More Infinity.
Donny Good evening. I mean, obviously the US Federal Reserve.
Kevin Walsh is the person being nominated to chair the
US Federal Reserve and take over from the Rome Palmer.
(19:00):
So I could still reacting to that. How do you
see the appointment.
Speaker 4 (19:03):
Yes, it's quite interesting, you've believing, Stephen. I think Kevin
Walsh was the Federal governor in two thousand and sixty
twenty eleven, during the financial crisis and when unemployment hit
the ten percent and the economy was in free for wash.
Actually fought against aggressive, aggressive stimulus, so he warned about
phantom inflation that never showed up, and a lot of
(19:24):
economists argue that his caution actually made things worse. Now
fast forward to twenty twenty six and Wash has softened.
He's a line to Trumps push on lower rates. So
the markets are confused which version of you getting the
two thousand and eight walk who keeps rates high or
the twenty twenty six Dove who's cut aggressively. And of
course what this means for gold in the rand, it's
(19:45):
going to be a chain reaction with the market price
in the FED might not cut rates as much as
we thought. US treasury bond suddenly looked more attractive. They're
paying four to five percent for safety, So I think
very interesting developments for today.
Speaker 1 (20:00):
I mean, there was so much volatility, gold prices going
from five thousand, five hundred yesterday to five thousand, so
losing ten percent in a day, as silver falling again
below one hundred dollars, and then platinum losing Where did
they go I think was two eight hundred to around
two thousand, two hundred at one point. Was the volatility
just because of Wash or was there something else in
(20:22):
it do you think.
Speaker 4 (20:24):
I think it's essentially three things. First profit taking. I
mean gold was up eighteen to twenty four percent just
in January. It's the best month since the nineteen eighties,
and it jumped over fifty percent, so and saw they
jumped over fifty percent. I mean, so those parabolic rallies
don't last. So second, the Wash announcement and the opportunity
cost I described, and then third geopolitical easing, so safe
(20:46):
haven demand from US around tension called so the fear
premium essentially unwound. But despite today's brutal decline, gold is
spare up eighty percent above where it was a year ago.
Blattin is straw up one hundred and ninety four percent
year on. Saw these still massively higher despite using fifteen
percent today, So we're not to turn into twenty twenty
four levels. It's just a profit taking after historic run.
(21:08):
It's not a fundamental collapse.
Speaker 1 (21:10):
Okay, And I mean I suppose, just to see how
it all pans out, there was private sector growth as well,
just another reminder of what's happening in our economy.
Speaker 4 (21:19):
Yeah, no, exactly, And I mean the j C closed
it one hundred and twenty than forty six, so down
four point one point five. I mean, that's the worst
single day in over a year mining stocks, which were
about thirty percent of the index DROs of the client.
But if you're a business operating in that ecosystem, suppliers, contractors,
professional service firms serving minus today was obviously painful. Board
(21:40):
meetings tonight are going to be revising, guiding, stress testing,
liquidity checking, covenant headrooms. But here's what's structurally important. While
minus crash, other sectors held up surprisingly well. I mean
banks likely flat or slightly positive, telecoms, resilient, consumer facing
businesses held that divergence is critical, and what it tells
me is the JAYS is no longer a pure mining proxy.
(22:01):
It's starting to pright in a domestic recovery story. Financials
are benefiting from eight point seventy four percent credit growth,
the fastest in years. That's banks extending one hundred and
thirty two one hundred and forty billion in new loads annually.
So businesses are borrowing to expand households of funding purchases
or financing purchases, and that confidence shows up in bank
(22:22):
earnings and stock prices. So from a capital markets perspective.
As you mentioned, this is where we see opportunities emerge.
I mean private equity that have been sitting on drive
powder and that's a lot of it, with local institution
investors now compromising over or comprising over fifty percent of
new commitments while looking at today's this location and asking
where's the value. Not in the stressed miners necessarily, but
(22:43):
in businesses serving domestic demands that got unfairly sold off,
in commodity panic, so fintic platforms, logistics, network, essential services,
and the capital is there, It's just waiting for a
rational entry point.
Speaker 1 (22:55):
Donni d Dolphin, thanks so much, Really appreciate its head
of business development at more infinity of moments after six
thirty for the Money Show, The Friday File, The Friday
File fourteen minutes to seven the time. You know, for
many years, whenever I went to our Tumbo International Airport,
I used to dread it. Not because it's an airport
and it meant I was leaving home. I was usually
quite excited about that. It was because for a long time,
(23:17):
parking at our Tumba was just a disaster. I mean
this is years ago. And then I realized there were
more and more parking services. And they come in all
sorts of shapes and sizes, and they offer different services.
But I think the creme de la crem the top,
not the I don't know, whatever you want to call it,
must be what's called first class parking at our tumber
it see only service. I understand where your car's actually
(23:40):
parked at the airport. Tanjua Chersi's the founder of first
class parking. She's sitting opposite me now, Tindue. Good evening,
Thanks for braving the Friday traffic.
Speaker 2 (23:48):
Good evening, and thank you for having me. Greetings to
your listeners.
Speaker 1 (23:51):
You're providing a service that other people provide in the
same place. How do you set yourself apart? You do
you try and do things that other people don't do.
Speaker 2 (24:00):
I love the fact that you mentioned that we are
the only accredited ACTA parking so which gives us this
platform of just bragging up out the fact that we
are the only ones that have parking space within the
airport premises. So that sets us apart, which makes us
the most sea provider in this case. If you're leaving
your car at the airport, you can only find it
(24:21):
within the airport premises.
Speaker 1 (24:23):
So which saves.
Speaker 2 (24:24):
You your fuel as well as chances of being knocked
or hit on the road while you're taking your car
somewhere else.
Speaker 1 (24:31):
But with us, it's just a short.
Speaker 2 (24:32):
Distance where we offer extraordinary services as well.
Speaker 1 (24:36):
I mean some of the things you do. You do
a cleaning, you do a concierge service. I mean, what
do people ask you to do with their cars?
Speaker 2 (24:42):
Okay, So the one thing that is most popular we
have our sister company which is called Scratch More Bilet
operates at the airport for the past twenty years now,
which is a panel bitter. So imagine leaving your car
thinking that you're only parking, but we give you a
coat for any minor spretches just dance that within the car.
Speaker 1 (25:02):
So that is what we do.
Speaker 2 (25:03):
And the most famous one is the full valet which
they love the most, where we cleaned the vehicles just
from the inside and the outside and polish which is
not commonly done by most car wash services, which also
can be done within a day if you've just left
for debin and we're back, so it's just an easy service.
And one again which they love the most, again which
(25:24):
is the one way we can buy you groceries at
one of the shops within the airport, which is a supermarket.
So you just give us a list via email or
when you drop off your car and we can get
you the small just those groceries mini groceries, that's what
we call. So it gives you the chance to save
time as well.
Speaker 1 (25:40):
And just be clear, if I'm leaving my car for
two weeks, you're not buying them on the first day.
You're buying them on the last.
Speaker 2 (25:45):
Day, right, definitely we are, So we'll just wait as
pay your instructions again, met, And if you're buying bananas,
I can't buy your banana today and hope that you
will be back. So if you're buying yogurts again, I
have to make sure. So it takes just a knowledge
as well, what do I need to do in order
for me to give this exceptional service just from our team,
which they understand as well as the drivers they like
(26:07):
offering it, just exceptional service from our front desk as well.
They just are well and knowledgeable people to work with.
Speaker 1 (26:14):
I think what a lot of people want from a
service like that is they want two things. They want
it to be very easy to drop off. They want
to be able to literally get out of the car
and into the airport right. And then the one which
may even be more important than that, because everyone's very
excited when you're going somewhere, but you come back sometimes
late at night, you quite died. You want your car
to be where everyone says it's going to be, and
(26:36):
you want it to be very easy. How do you
make sure that actually the cars in the right place
at the right time.
Speaker 2 (26:42):
So the purpose of the valley, remember, is to get
every one to find the service as convenient as possible.
If you drop off your car, I'm situated at Domestic
departure as the last door of the airport, which gives
you access to just drop and over your key and
then check in, so we are closer to the check
in point again when you come back, we are right
at level four. As you walk up from the food court,
(27:05):
there's just a lift that will take you to level four.
As soon as you walk out, you can find first
class parking, which gives an opportunity not to look for
your car. You still don't need to go anywhere after that,
so just looking for your khakis, we have those. We've
offered you the service which is just the washingon vacuum
or the full valet and imagine getting your crossreis you
don't need to pass by the supermarket.
Speaker 1 (27:24):
After I saw a rumor somewhere that you actually do
laundry as well. Is that true?
Speaker 4 (27:30):
Oh?
Speaker 2 (27:30):
Yes, So we used to operate a dry clean service.
So if somebody would need us to do our shoe
repairs as well as a dry clean service, one can
leave their comments where we can send it to a
well known or just an impeccable drive cling service, which
by the time when you come back, you have your
laundry or your trycling hanging by your vehicle.
Speaker 1 (27:50):
What kind of people are using your service? So I
mean is it Joe Berg as you you know, spending
a weekend in Cape Town or is it people who
are spending two weeks in Paris.
Speaker 2 (28:00):
Yes, So with that, let me just quickly clear. So
our service provide for short term and long term parking.
I have clients that have companies that are based in
Deurban and Gay Town, so they would leave their cars
with me to safekeep for a whole month. So they're
only paying for that option where their executives are coming
to Joe back. They don't need to hire a vehicle,
which most people do not know about that service. So
(28:22):
I keep your car while you are away. Whenever that
you are in joe Back, you just as to have
your vehicle. It's ready for you. And then most of
our clients are based from travel agencies, travel agencies that
work with most I have government entities. I have corporate clients,
which are your law firms and any other So anyone
that has an option to say I need access to
(28:43):
make bookings online, then you can prepay and make parking,
which is as easier as accessing the booking portal, make
a booking, get a confirmation.
Speaker 1 (28:53):
After checkout, you.
Speaker 2 (28:53):
Get an invoice which is sent to you automatically, which
saves you from the accounts department as well as procurement.
Speaker 1 (29:00):
I mean, do you find that most of the cars
I mean, are they staying there for a month, are
they staying there for two days? I mean a lot
of people will do from Joeberg to Durban and back again,
or Cape Town and back again in a day. Imagine
that's quite that'll keep you people quite busy because each
time there's a movement and someone needs to move the car.
Speaker 2 (29:17):
Yes, that's very common. So if we have our government
entities utilizing our services. Those are the people that are
going to Parliament. So more activity is happening in Cape Town.
That means more business for us. And people that are
going on vacation for short term and long term they
can keep their vehicles. So the nice part is if
you park your car longer, that's how you obtain a
discount compared to parking for short days. So if you
(29:39):
park for a day that's going to be like two
and twenty four, it discounted great. And if you're parking
more days, that's how you're gonna end more at discounts.
Speaker 1 (29:49):
Do you have big phases in your business? I mean,
obviously there'll be holiday times and other times, but are
there particular patterns that you've noticed over the years.
Speaker 2 (29:57):
Oh, yes, definitely.
Speaker 1 (29:58):
So like we just got back.
Speaker 2 (29:59):
From December, we have people that have parked from the
fifteenth or the sixteen when they're traveling with their families
and they only got back from the second of January
just to start off at work. Same for any other
person that is going just for a short time. So
we are able to accommodate anyone that can leave a
vehicle for two weeks. A person that can leave a
vehicle for just a day and still come back in
(30:21):
the afternoon.
Speaker 1 (30:23):
But do you see that, you know, is there a
particular time of year that's quieter than the others. I
don't know, maybe the middle of September or something. I mean,
on one level, there are always people traveling through an airport
like our chamber. But there must certainly be times that
are very busy every year, and sometimes it may be
just on ever really that busy.
Speaker 2 (30:41):
So funny that you mentioned September that's actually our busiest time.
I don't know if it's the travel mine, yes, it is,
so everyone is trying to catch up between September, October
and November. From that time, that's when they're trying to
wrap up their businesses. And then right now it's January,
everybody's still taking before the school closes, everybody would be
quiet and then time will pick up. So I know
(31:01):
with the June holidays that the longest time people take
their families away, so we don't have people that are
traveling for business, so it is just a seasonal. But
whenever there is an open opportunity, everything gets so hexica
and busy, which keeps us going Tanjinia.
Speaker 1 (31:17):
Thanks so much for coming in. I really appreciate it.
Sia Cheresi is the founder of first Class Parking on
Friday File step taking your calls on one, one, eight, three, seven, two,
five minutes to seven on the Money Show. Time for
the Friday Bus Blitz. First question, you know you know
how this works on the Friday bus. Let's we put
(31:38):
out a question. If you get it right, you call us.
If you get it right, we move on to the
next question. If you get it wrong, we move on
to the next caller. Oh, double one double A three
oh seven, O two two one four four six O
five six seven voice notes don't count. I'm afraid. First
question on the Friday bis Blitz tonight? What level did
gold pass on Monday? Was A three? One thousand dollars,
(32:01):
five thousand dollars or six thousand dollars? Announce? First question
on the Friday Busblitz. What level did gold pass on Monday?
Was it three thousand dollars, five thousand dollars or six
thousand dollars? Announce the Money Show Friday Busines list. First
question on the Friday Busbltz tonight? What level did gold
(32:23):
pass on Monday?
Speaker 5 (32:24):
Was?
Speaker 1 (32:24):
It three thousand dollars, five thousand dollars or six thousand dollars.
Announce so double one double a three oh seven two
two one four four six five sixty seven, Selma on
the line from Ridwood.
Speaker 5 (32:35):
Hi, Hi, good evening. The answer five thousand.
Speaker 1 (32:39):
Of course it's five thousand, Selma. Yes you are correct, Okay,
thank you. Second question on the Friday busblitz, which too
major economies signed a landmark prede agreement this week aimed
at slashing tariffs on most goods, which for both of
them will reduce their alliance on the US and China,
(33:00):
which two major economies signed a massive trade agreement this week.
Speaker 3 (33:04):
Summon, Well, funny enough.
Speaker 4 (33:07):
I thought it was China and Britain, but maybe it wasn't.
Speaker 1 (33:11):
No, all right, sorry, he's Elma. Let's go to shoshanguve
shall we let lie? Let lie high which to major
economy signed a massive trade deal this week.
Speaker 4 (33:25):
Uh if now.
Speaker 3 (33:28):
I think of China.
Speaker 1 (33:30):
And so it's not China and South Africa. I'm afraid.
Let lie. I'll give you all a hint. It's not China,
it's not the US. Mohammad in pretoria, Mohammed, Hi, do
you know the answer, yeah, I is it India and Europe? Muhammad,
you are correct, it is the EU and Europe. Okay.
(33:54):
Next question, ESCAM has asked NURSA to approve interim electricity
tariffs for two companies to help rescue smelters. Do you
know the name of at least one of the companies.
There's a tough question. I could have made it tougher,
but one of the companies that's going to get tariff
(34:16):
relief one of them, O Mohammed, but it is ben
No ma'ham. It's not the CDs Benz but very good. Okay.
(34:36):
I think I'm probably gonna have to give you the
answer to this one. The two companies are Saman Poor
and Glen paw Mara. It's seven o'
And now The Money Show with Stephen scredits on seven
oh two. Let's walk little. The Money Show with Stephen
Crutis has brought to you by abs of corporate and
investment Banking, a Pan African bank that's invested in your
story because your story matters. Good evening, Welcome to the program.
I'm Stephen Curtis. Ten minutes after six the time, a
(00:21):
daymarked by such volatility, and I heard the words of
the World Gold Council ringing in my ears. You may
recall this time last night they were telling us that
they expected a lot more volatility and metal prices, and
so it showed gold losing ten percent of its value
on the day, still trading. Of course, there's still lots
of time for change, and a lot of it's sparked
(00:42):
by the first sort of leaking, the hint, then the
confirmation that the US President Donald Trump was appointing it
was appointing Kevin Walsh as the or nominating him as
the new chair of the US Federal Reserve to replace
their Jerome Powell. Very interesting to see the US market
reaction to that not as bad as you might have thought, Partly,
I think because Walsh has not seen as much of
(01:04):
a radical figure as some of the other people who
Trump was sort of looking at actually were. So I
think that's a big part of this, and sort of
where we are and why we're actually here at the moment.
I think that's a big part of this. Would you
to speak to Rudy Dix, the head of Operation volland Leila.
In just a few moments there's been a big report
back from him about what's happening at Operation Villan Leila,
(01:28):
how things are going, where the work, the new work
needs to be done, very interested in what the next
phase of it will be as well. Luis del Moore
is an economist for Africa the Middle East at Alliance Trade,
where it is difficult to get your debts paid and
certainly South Africa is one of those. So we'll hear
from him as to why that is the business of
(01:51):
parking a car at an airport. And I mean, you know,
for years I haven't tried to park a car there myself.
There's so many services now, so much cheaper than others.
We'll speak to the Kreme de la creme if you
like of that. We'll speak to first class parking. It's
not just about parking, it's all the other additional services
as well. Since you were Chares, he's the founder of
(02:13):
First Class Parking. Looking forward to meeting her and speaking
to her a little later on the program, and then
don't forget of course, we'll have the Friday bis Blitz.
I'll be very interested in your worst parking experience ever?
And where was it? I can think of some shopping centers,
but that some places just have the world's worst parking
and it's designed like that. You can see that's just
(02:34):
never going to improve. Other places just the way it's
managed is pretty terrible. So yeah, looking forward to all
of those conversations. But your worst parking experience please on
seven two seven oh two one seven oh two. Good
to hear from you as well. This evening on Double one,
double A three seven oh two two one four four
six five six seven twelve minutes after six they show
(02:58):
with Stephen on ninety two point seven and one six
FM streaming on the Prime Media Plus.
Speaker 2 (03:05):
NAP and DStv channel eight five six and one.
Speaker 1 (03:08):
Of the questions to ask around Operation volland Laila at
the moment is particularly around the issues to do with ESCUM,
because there suddenly is a lot of controversy around whether
there is in fact going to be a proper splitting
of ESKIM into three different parts, and there's some controversy
around that. I'm hoping we'll get a little bit of
clarity on that on The Money Show tonight stream. That's
(03:32):
on The Money Show six to eight pm. Well, Operation
volland Laila reporting today that around forty seven percent of
their reform actions are currently on track, around forty percent
of delayed or off track. One particular reform has been
properly completed. Rudy Dix is the head of Operation voland Laila.
You've heard so much about it on this particular program. Rudy,
(03:53):
good evening, Good to talk to you again. I suppose
probably the biggest difference Operation volland Laila has made to
South Africa since it started is the work it did
with others in helping to end load shedding. But behind
the scenes, our electricity market is changing dramatically. Some of
it has already changed, but there's still a lot more
to do. Really, Dicks, are you with us?
Speaker 3 (04:18):
Are you sorry about that? Steven?
Speaker 1 (04:20):
Sorry?
Speaker 3 (04:20):
Yes, a little bit disconnected?
Speaker 1 (04:22):
Ye, I'm sorry about that, not at all. I was
asking how much there is still to do with the
changes that you're making in the electricity market.
Speaker 3 (04:31):
Of course there are quite a bit of changes, but
we made some significant progress because ultimately what we want
to do is move towards a competitive market that requires
for us to do a whole series of things. For example,
in this year we'll be launching for South African wholes
an electricity market first and internal and then of course
trading externally, and that's the important thing about that. Around
(04:54):
that also, of course some of the more important parts
is significant unbinding or the restruction of SCOM and the
complete separation of transmission to create that a competitive market.
Last year we were able to get cred access rules
sorted out by NURSA and that's an important step to
allow for private sector to be clear on how they
(05:16):
deal with curing rules they get access to grid. But
more importantly, the National Transmission Company of South Africa was
awarded a traders operating operator's license you know as a
National Transmission company or South Africa. So these are important
steps and hopefully in this year we'll work towards setting
up that market, creating competition and of course in the
long run being able to create deep electricity for consumers
(05:38):
and for businesses alike.
Speaker 1 (05:39):
I mean it seems to me there's a bit of
a dispute now about how ESKIM is being broken up.
It's supposed to be broken up into three separate parts.
They're supposed to be a very neutral kind of system
operator who will buy electricity.
Speaker 4 (05:52):
Some of the.
Speaker 1 (05:53):
Skim's funders we heard this week are not happy with
the current plan. Is that going to delay proper reform?
It looks a bit like it is to me.
Speaker 3 (06:00):
Really, No, it's not a dispute, Stephen. I think it's
important that we've got to think through how one deals
today's press conference. You got to you've got to find
a mechanism to deal with some of the financial financial risk.
Separating these entities impacts on balance sheets, and we've got
to be fairly clear we don't want to create balance
(06:22):
sheet risk on separate entities and on the generational is
come holder. So we've got to work through these details.
And that's why I think it's important that someone are
saying that, well, some of us delay. Well, it's quite complex, right,
I mean, this is the thing we've never done these
things before. We've learned from from other countries. But you know,
you've got to death monitoring conditions tank in place, you've
(06:42):
got to do unbundling. We've been able to secure electricity.
It's rather the ability to get through some complex technical
aspects and for us to be able to ensure that
we don't pass on any risks to the sovereign or
to the on the National treasure or the government. And
so we've got to get through it. And I think
this is the most important part. I don't think it's
(07:02):
as I think the deadholders and many of the business
colleagues have raised the issues in relation to ensuring that
they're one full unbundling. That is the reform program that
we set out, and that's important for us to be
able to continue and ensure that we manage all outstanding risk.
Speaker 1 (07:20):
We've seen some improvements that transnit the Richard Bay coal
terminal reporting this week high volumes last year as a
result of the improvements. What do you think the next
priority is there? I mean, the big change is that
the ports and on the actual railway lines at the.
Speaker 3 (07:34):
Moment, absolutely, I mean, I think just importantly, you remember
this big dispute between the ording of a contact at
Durbin Container PIA Terminal two. That legal matter has been settled.
They have now formed a new COO remembered fifty one
percent transit forty nine percent but controlling management share of ICTSI,
the Filipino company. It is now called Durban Gateway Terminal.
(07:54):
So this newco has been established from the first of January,
we're going to see some improvements and investments in the
operational performance. It's east of the largest contained terminal on Africa,
largest number of volumes and that's an important part. Steps
in the rail reform are important. Also, you had seen
that we'd issued an RFI or request for information. The
Minister has made it fairly clear that she wants to
(08:15):
move as quickly as possible to go to market to
three to see whether we could get PSPs. If we
successfully implement the PSP for Urban Container Terminal, and it
looks like we've been able to get on a good footing,
I think it's important that we do go to market
for some of the other larger corridors to be able
to get private sectory investment. Ultimately that is improving the efficiency.
(08:36):
She set a target of two hundred and fifty million times.
We sort of now at stabilizing we got somewhere between
two sixty five and two seventy. Hopefully we can push
it slightly more towards the end of the financial year.
But a substantial amount of investment in bringing the network
up to speed, ensuring that we do the maintenance and
captics is going to be important and that has to
(08:58):
be built and kicked in to how we deal with
the PSPs and private sector operators. The one other plus
I think Stephen is that you know, we finally are
located seven slots to forty sorry, forty one slots to
seven operators thus far that were shortlisted, and that's quite
an important way. They will start you know open access
(09:20):
and actually running volumes in the next year or so.
That's an important open access private sector competing with TFR.
That's what we want to see and that's going to
be quite critical. Of course, the reform of separating again
very similar to SCOM. We've got to take infrastructure and
operations out because ultimately the infrastructure manager was going to
(09:41):
manage the infrastructure. Have to allow for you know, a
level playing field where the t TFR and private operators
in the same way, and that's an important part and
step stores that are going forward.
Speaker 1 (09:54):
I mean, really, so many people are talking about their
optimism for our economy this year, a lot of that
because of Operation Foral and Leader and the work you've
been doing there. Where for you is the next big
area of reform. What do you think is the sort
of key thing to do in twenty twenty six local government?
Speaker 3 (10:11):
Stephen. I think that's the major thing we've got to
fix local government. We've got to work really hard. It
is the most complex reform that we've been able to
look at. But I think the sort of headway that
you've made, particularly on the trading services and the incentive
and the ring fencing. The Octor Department is about to
(10:34):
publish the white Paper on Policy Changes on Local Government
that basically says, look, we've done this thing for the
past twenty five years. We've got to think about how
we improve inter government relations and stuff like that, and
then the sort of interventions that are going to be
imported around service delivery. But ultimately, I think that is
where it matters. You and I live in the city
(10:54):
where there's been failing services. Many attempts to try and
address this, but we've got to move towards improving the
service delivery, and that's what it is. We've got to
also finish this year. We've got to finish the reform
for electricity, because electricity. If we don't deal with the
reforms and ensure that the energies of images of cure
competition and we give an indication of clearly how we
(11:17):
bring down the price and the cost of electricity, then
I think these are particular potential at us that again
would impact on investor sentiment and investment going forward.
Speaker 1 (11:26):
Really, Dex, thank you for your time tonight. Really to
appreciate it. Head of Operation Willndela on The Money Show.
Speaker 5 (11:32):
The Money Show.
Speaker 1 (11:35):
I'm sure that at some point in your life you've
had to phone someone or send them an email and
demand that they pay you the money they owe you.
Collecting debts can be already frustrating and irritating business. Are
the Arms Trade releasing numbers this week showing South Africa
is actually one of the more difficult countries in the
world in which to collect your unpaid invoices. Louis delmo Is,
(11:58):
the economist for Africa and Middle East at Alliance Trade.
Lowis good evening. How difficult does it collect in South
Africa compared to what happens in other countries.
Speaker 5 (12:09):
Yes, Look, South Africa is among the countries, especially in
emerging markets, that is harder to collect debt. I think
what's interesting is that this report that we've been doing
over the last ten to twelve years, what we've seen
is that many emergent markets have actually been improving in
the way they can collect their AdPT but it's not
(12:29):
the case for South Africa. South Africa actually for the
last ten years that we've been doing this report continues
with the same score, so we see a lot of
improvement still needed when it comes down to debt collection
in the country.
Speaker 1 (12:42):
Sure, what makes it so difficult? I mean, what's happening
here that makes it so hard?
Speaker 5 (12:47):
Yes, So we look at different aspects of how to
collect debt. Within them, we look at the pile and practices.
We look also at local courts procedures and also at
local insolvency procedures. So we're actually looking at a range
of different aspects of that go beyond the South African economy.
(13:09):
It also goes into the legal aspects of South Africa.
It goes into some technicalities and so when all this
is combined it's when it shows us that actually South
Africa is it's still tricky to make those collections. However,
for instance, if we compare it to other emergency markets,
to China, it's still a bit easier in South Africa
(13:29):
to do so compared to China. So it also depends
on what countries you compare it to.
Speaker 1 (13:34):
I mean, I was interested to see that. So we
have endless conversations in South Africa about how long it
takes government to pay invoices to service providers. Does government
set a tone in a way, not just in South
Africa but in other places. What government does that's set
the tone for what companies.
Speaker 5 (13:52):
Do, definitely, because the government in any economy is one
of the largest players. And so a lot of companies
in South Africa, for instance, in the construction that are
working in new infrastructure, in infrastructure being built in the country,
are actually dependent on receiving that money from the government.
(14:13):
And so the amount of time that it takes the
government to pay for instance, construction firms, it's the amount
of time that it's going to take a firm to
maybe be able to pay its own employees or to
pay some other aspects or some other providers that they
need to take that infrastructure to put that infrastructure in place.
Speaker 1 (14:35):
You talk about all of the countries that you do
this survey, and you've been doing it for a long time.
Which countries have improved and how have they done it?
Speaker 5 (14:44):
Yes, we see, for instance, a lot of improvement in
countries for instance, that are currently not in a very
good place, for instance in the Gulf and also in Asia.
And basically the way that this has happened at the
end is is through a lot of different changes within
their legal structures in the way they have set up,
(15:08):
for instance, insolvency laws. And so it's not just it's
not just a quick fix. It actually takes time. It
normally also takes some laws being passed in parliament, so
it also takes political consensus. So that's why it's a
long process. But we do see that this can happen
if there is political will to do so.
Speaker 1 (15:27):
Do you see a link between how quickly an economy
grows and how difficult it is to to get your
debts paid? I mean, I would think if I were
running a company, the more quickly I get the money
that is legally owed to me, the more quickly I
can do other work, and that might be evidence of
an economy that's in a good place.
Speaker 5 (15:49):
Yes, definitely, there's definitely an impact on that sense. However,
it also has to be said that for an economy
to grow, it takes so many other things. For instance,
in the ranking, what we see these year, some of
the economies that are growing the most, for instance, the UEI,
the United Arab Emirates in the Gulf, it's one of
the countries that is going to have one of the
(16:11):
most successful growth in twenty twenty six. But also it
comes up as one of the countries with more difficulties
for debt collection. And why is that Well, because the
ue for instance, has not that type of legal structure
that you would expect for such a country developing in
the way it's developing. So I would say, yes, there's
(16:32):
links because of course being able to collecturate debts helps
adding company, but there's also other aspects related.
Speaker 1 (16:40):
I was interested in your finding about China because I
think we see China, you know, South Africa, we see
China visually a biggest trading partner, but also a country
with an economy that's been growing strongly for such a
long time. I mean, we all know the story as
to why. And yet from what you say, it's very
difficult to get your debts paid there.
Speaker 5 (17:00):
Yes, and actually and actually in the case of China,
it's not the overall score that it's worse than South Africa,
as I said before, but in some technicalities within the score.
And why is that relevance for South Africa, as you said,
because China is the first market for South African companies,
and then when South African exporters go out in the
(17:22):
world and go and sell to China, they have to
know that they're going to face difficulties. Why well, because
the structure of the legal procedures is also complicated there.
Because also, for instance, the day sales outstanding are also
pretty high and actually higher than South Africa, and so
(17:42):
there's a lot of complications. Having said that, for companies
that are already exporting to China, this is nothing new.
This stuff that they already face on a day to
day basis. For new companies, it's something that they have
to take into account. And I think this is relevant
because in the current context of trade war, in the
current context of fragmentation between the US and its partners,
(18:06):
with now the high terriffs that South African explorers are
facing to enter the US. South African explorers are going
to need to diversify if actually they want to keep
growing and selling to other markets and be competitive. And
so now these explorers that used to go to the
US and now might go to China, they also have
(18:26):
to know that they're also going to find difficulties. The
fact that China is growing at around five percent per
year or even a little less easier, they have to
know that difficulties still exist.
Speaker 1 (18:37):
Let me del move, thanks so much. Economists for African
and Middle East at Alians trade the Money Show. Danny
Duplin is the head of business development at More Infinity.
Donny Good evening. I mean, obviously the US Federal Reserve.
Kevin Walsh is the person being nominated to chair the
US Federal Reserve and take over from the Rome Palmer.
(19:00):
So I could still reacting to that. How do you
see the appointment.
Speaker 4 (19:03):
Yes, it's quite interesting, you've believing, Stephen. I think Kevin
Walsh was the Federal governor in two thousand and sixty
twenty eleven, during the financial crisis and when unemployment hit
the ten percent and the economy was in free for wash.
Actually fought against aggressive, aggressive stimulus, so he warned about
phantom inflation that never showed up, and a lot of
(19:24):
economists argue that his caution actually made things worse. Now
fast forward to twenty twenty six and Wash has softened.
He's a line to Trumps push on lower rates. So
the markets are confused which version of you getting the
two thousand and eight walk who keeps rates high or
the twenty twenty six Dove who's cut aggressively. And of
course what this means for gold in the rand, it's
(19:45):
going to be a chain reaction with the market price
in the FED might not cut rates as much as
we thought. US treasury bond suddenly looked more attractive. They're
paying four to five percent for safety, So I think
very interesting developments for today.
Speaker 1 (20:00):
I mean, there was so much volatility, gold prices going
from five thousand, five hundred yesterday to five thousand, so
losing ten percent in a day, as silver falling again
below one hundred dollars, and then platinum losing Where did
they go I think was two eight hundred to around
two thousand, two hundred at one point. Was the volatility
just because of Wash or was there something else in
(20:22):
it do you think.
Speaker 4 (20:24):
I think it's essentially three things. First profit taking. I
mean gold was up eighteen to twenty four percent just
in January. It's the best month since the nineteen eighties,
and it jumped over fifty percent, so and saw they
jumped over fifty percent. I mean, so those parabolic rallies
don't last. So second, the Wash announcement and the opportunity
cost I described, and then third geopolitical easing, so safe
(20:46):
haven demand from US around tension called so the fear
premium essentially unwound. But despite today's brutal decline, gold is
spare up eighty percent above where it was a year ago.
Blattin is straw up one hundred and ninety four percent
year on. Saw these still massively higher despite using fifteen
percent today, So we're not to turn into twenty twenty
four levels. It's just a profit taking after historic run.
(21:08):
It's not a fundamental collapse.
Speaker 1 (21:10):
Okay, And I mean I suppose, just to see how
it all pans out, there was private sector growth as well,
just another reminder of what's happening in our economy.
Speaker 4 (21:19):
Yeah, no, exactly, And I mean the j C closed
it one hundred and twenty than forty six, so down
four point one point five. I mean, that's the worst
single day in over a year mining stocks, which were
about thirty percent of the index DROs of the client.
But if you're a business operating in that ecosystem, suppliers, contractors,
professional service firms serving minus today was obviously painful. Board
(21:40):
meetings tonight are going to be revising, guiding, stress testing,
liquidity checking, covenant headrooms. But here's what's structurally important. While
minus crash, other sectors held up surprisingly well. I mean
banks likely flat or slightly positive, telecoms, resilient, consumer facing
businesses held that divergence is critical, and what it tells
me is the JAYS is no longer a pure mining proxy.
(22:01):
It's starting to pright in a domestic recovery story. Financials
are benefiting from eight point seventy four percent credit growth,
the fastest in years. That's banks extending one hundred and
thirty two one hundred and forty billion in new loads annually.
So businesses are borrowing to expand households of funding purchases
or financing purchases, and that confidence shows up in bank
(22:22):
earnings and stock prices. So from a capital markets perspective.
As you mentioned, this is where we see opportunities emerge.
I mean private equity that have been sitting on drive
powder and that's a lot of it, with local institution
investors now compromising over or comprising over fifty percent of
new commitments while looking at today's this location and asking
where's the value. Not in the stressed miners necessarily, but
(22:43):
in businesses serving domestic demands that got unfairly sold off,
in commodity panic, so fintic platforms, logistics, network, essential services,
and the capital is there, It's just waiting for a
rational entry point.
Speaker 1 (22:55):
Donni d Dolphin, thanks so much, Really appreciate its head
of business development at more infinity of moments after six
thirty for the Money Show, The Friday File, The Friday
File fourteen minutes to seven the time. You know, for
many years, whenever I went to our Tumbo International Airport,
I used to dread it. Not because it's an airport
and it meant I was leaving home. I was usually
quite excited about that. It was because for a long time,
(23:17):
parking at our Tumba was just a disaster. I mean
this is years ago. And then I realized there were
more and more parking services. And they come in all
sorts of shapes and sizes, and they offer different services.
But I think the creme de la crem the top,
not the I don't know, whatever you want to call it,
must be what's called first class parking at our tumber
it see only service. I understand where your car's actually
(23:40):
parked at the airport. Tanjua Chersi's the founder of first
class parking. She's sitting opposite me now, Tindue. Good evening,
Thanks for braving the Friday traffic.
Speaker 2 (23:48):
Good evening, and thank you for having me. Greetings to
your listeners.
Speaker 1 (23:51):
You're providing a service that other people provide in the
same place. How do you set yourself apart? You do
you try and do things that other people don't do.
Speaker 2 (24:00):
I love the fact that you mentioned that we are
the only accredited ACTA parking so which gives us this
platform of just bragging up out the fact that we
are the only ones that have parking space within the
airport premises. So that sets us apart, which makes us
the most sea provider in this case. If you're leaving
your car at the airport, you can only find it
(24:21):
within the airport premises.
Speaker 1 (24:23):
So which saves.
Speaker 2 (24:24):
You your fuel as well as chances of being knocked
or hit on the road while you're taking your car
somewhere else.
Speaker 1 (24:31):
But with us, it's just a short.
Speaker 2 (24:32):
Distance where we offer extraordinary services as well.
Speaker 1 (24:36):
I mean some of the things you do. You do
a cleaning, you do a concierge service. I mean, what
do people ask you to do with their cars?
Speaker 2 (24:42):
Okay, So the one thing that is most popular we
have our sister company which is called Scratch More Bilet
operates at the airport for the past twenty years now,
which is a panel bitter. So imagine leaving your car
thinking that you're only parking, but we give you a
coat for any minor spretches just dance that within the car.
Speaker 1 (25:02):
So that is what we do.
Speaker 2 (25:03):
And the most famous one is the full valet which
they love the most, where we cleaned the vehicles just
from the inside and the outside and polish which is
not commonly done by most car wash services, which also
can be done within a day if you've just left
for debin and we're back, so it's just an easy service.
And one again which they love the most, again which
(25:24):
is the one way we can buy you groceries at
one of the shops within the airport, which is a supermarket.
So you just give us a list via email or
when you drop off your car and we can get
you the small just those groceries mini groceries, that's what
we call. So it gives you the chance to save
time as well.
Speaker 1 (25:40):
And just be clear, if I'm leaving my car for
two weeks, you're not buying them on the first day.
You're buying them on the last.
Speaker 2 (25:45):
Day, right, definitely we are, So we'll just wait as
pay your instructions again, met, And if you're buying bananas,
I can't buy your banana today and hope that you
will be back. So if you're buying yogurts again, I
have to make sure. So it takes just a knowledge
as well, what do I need to do in order
for me to give this exceptional service just from our team,
which they understand as well as the drivers they like
(26:07):
offering it, just exceptional service from our front desk as well.
They just are well and knowledgeable people to work with.
Speaker 1 (26:14):
I think what a lot of people want from a
service like that is they want two things. They want
it to be very easy to drop off. They want
to be able to literally get out of the car
and into the airport right. And then the one which
may even be more important than that, because everyone's very
excited when you're going somewhere, but you come back sometimes
late at night, you quite died. You want your car
to be where everyone says it's going to be, and
(26:36):
you want it to be very easy. How do you
make sure that actually the cars in the right place
at the right time.
Speaker 2 (26:42):
So the purpose of the valley, remember, is to get
every one to find the service as convenient as possible.
If you drop off your car, I'm situated at Domestic
departure as the last door of the airport, which gives
you access to just drop and over your key and
then check in, so we are closer to the check
in point again when you come back, we are right
at level four. As you walk up from the food court,
(27:05):
there's just a lift that will take you to level four.
As soon as you walk out, you can find first
class parking, which gives an opportunity not to look for
your car. You still don't need to go anywhere after that,
so just looking for your khakis, we have those. We've
offered you the service which is just the washingon vacuum
or the full valet and imagine getting your crossreis you
don't need to pass by the supermarket.
Speaker 1 (27:24):
After I saw a rumor somewhere that you actually do
laundry as well. Is that true?
Speaker 4 (27:30):
Oh?
Speaker 2 (27:30):
Yes, So we used to operate a dry clean service.
So if somebody would need us to do our shoe
repairs as well as a dry clean service, one can
leave their comments where we can send it to a
well known or just an impeccable drive cling service, which
by the time when you come back, you have your
laundry or your trycling hanging by your vehicle.
Speaker 1 (27:50):
What kind of people are using your service? So I
mean is it Joe Berg as you you know, spending
a weekend in Cape Town or is it people who
are spending two weeks in Paris.
Speaker 2 (28:00):
Yes, So with that, let me just quickly clear. So
our service provide for short term and long term parking.
I have clients that have companies that are based in
Deurban and Gay Town, so they would leave their cars
with me to safekeep for a whole month. So they're
only paying for that option where their executives are coming
to Joe back. They don't need to hire a vehicle,
which most people do not know about that service. So
(28:22):
I keep your car while you are away. Whenever that
you are in joe Back, you just as to have
your vehicle. It's ready for you. And then most of
our clients are based from travel agencies, travel agencies that
work with most I have government entities. I have corporate clients,
which are your law firms and any other So anyone
that has an option to say I need access to
(28:43):
make bookings online, then you can prepay and make parking,
which is as easier as accessing the booking portal, make
a booking, get a confirmation.
Speaker 1 (28:53):
After checkout, you.
Speaker 2 (28:53):
Get an invoice which is sent to you automatically, which
saves you from the accounts department as well as procurement.
Speaker 1 (29:00):
I mean, do you find that most of the cars
I mean, are they staying there for a month, are
they staying there for two days? I mean a lot
of people will do from Joeberg to Durban and back again,
or Cape Town and back again in a day. Imagine
that's quite that'll keep you people quite busy because each
time there's a movement and someone needs to move the car.
Speaker 2 (29:17):
Yes, that's very common. So if we have our government
entities utilizing our services. Those are the people that are
going to Parliament. So more activity is happening in Cape Town.
That means more business for us. And people that are
going on vacation for short term and long term they
can keep their vehicles. So the nice part is if
you park your car longer, that's how you obtain a
discount compared to parking for short days. So if you
(29:39):
park for a day that's going to be like two
and twenty four, it discounted great. And if you're parking
more days, that's how you're gonna end more at discounts.
Speaker 1 (29:49):
Do you have big phases in your business? I mean,
obviously there'll be holiday times and other times, but are
there particular patterns that you've noticed over the years.
Speaker 2 (29:57):
Oh, yes, definitely.
Speaker 1 (29:58):
So like we just got back.
Speaker 2 (29:59):
From December, we have people that have parked from the
fifteenth or the sixteen when they're traveling with their families
and they only got back from the second of January
just to start off at work. Same for any other
person that is going just for a short time. So
we are able to accommodate anyone that can leave a
vehicle for two weeks. A person that can leave a
vehicle for just a day and still come back in
(30:21):
the afternoon.
Speaker 1 (30:23):
But do you see that, you know, is there a
particular time of year that's quieter than the others. I
don't know, maybe the middle of September or something. I mean,
on one level, there are always people traveling through an airport
like our chamber. But there must certainly be times that
are very busy every year, and sometimes it may be
just on ever really that busy.
Speaker 2 (30:41):
So funny that you mentioned September that's actually our busiest time.
I don't know if it's the travel mine, yes, it is,
so everyone is trying to catch up between September, October
and November. From that time, that's when they're trying to
wrap up their businesses. And then right now it's January,
everybody's still taking before the school closes, everybody would be
quiet and then time will pick up. So I know
(31:01):
with the June holidays that the longest time people take
their families away, so we don't have people that are
traveling for business, so it is just a seasonal. But
whenever there is an open opportunity, everything gets so hexica
and busy, which keeps us going Tanjinia.
Speaker 1 (31:17):
Thanks so much for coming in. I really appreciate it.
Sia Cheresi is the founder of first Class Parking on
Friday File step taking your calls on one, one, eight, three, seven, two,
five minutes to seven on the Money Show. Time for
the Friday Bus Blitz. First question, you know you know
how this works on the Friday bus. Let's we put
(31:38):
out a question. If you get it right, you call us.
If you get it right, we move on to the
next question. If you get it wrong, we move on
to the next caller. Oh, double one double A three
oh seven, O two two one four four six O
five six seven voice notes don't count. I'm afraid. First
question on the Friday bis Blitz tonight? What level did
gold pass on Monday? Was A three? One thousand dollars,
(32:01):
five thousand dollars or six thousand dollars? Announce? First question
on the Friday Busblitz. What level did gold pass on Monday?
Was it three thousand dollars, five thousand dollars or six
thousand dollars? Announce the Money Show Friday Busines list. First
question on the Friday Busbltz tonight? What level did gold
(32:23):
pass on Monday?
Speaker 5 (32:24):
Was?
Speaker 1 (32:24):
It three thousand dollars, five thousand dollars or six thousand dollars.
Announce so double one double a three oh seven two
two one four four six five sixty seven, Selma on
the line from Ridwood.
Speaker 5 (32:35):
Hi, Hi, good evening. The answer five thousand.
Speaker 1 (32:39):
Of course it's five thousand, Selma. Yes you are correct, Okay,
thank you. Second question on the Friday busblitz, which too
major economies signed a landmark prede agreement this week aimed
at slashing tariffs on most goods, which for both of
them will reduce their alliance on the US and China,
(33:00):
which two major economies signed a massive trade agreement this week.
Speaker 3 (33:04):
Summon, Well, funny enough.
Speaker 4 (33:07):
I thought it was China and Britain, but maybe it wasn't.
Speaker 1 (33:11):
No, all right, sorry, he's Elma. Let's go to shoshanguve
shall we let lie? Let lie high which to major
economy signed a massive trade deal this week.
Speaker 4 (33:25):
Uh if now.
Speaker 3 (33:28):
I think of China.
Speaker 1 (33:30):
And so it's not China and South Africa. I'm afraid.
Let lie. I'll give you all a hint. It's not China,
it's not the US. Mohammad in pretoria, Mohammed, Hi, do
you know the answer, yeah, I is it India and Europe? Muhammad,
you are correct, it is the EU and Europe. Okay.
(33:54):
Next question, ESCAM has asked NURSA to approve interim electricity
tariffs for two companies to help rescue smelters. Do you
know the name of at least one of the companies.
There's a tough question. I could have made it tougher,
but one of the companies that's going to get tariff
(34:16):
relief one of them, O Mohammed, but it is ben
No ma'ham. It's not the CDs Benz but very good. Okay.
(34:36):
I think I'm probably gonna have to give you the
answer to this one. The two companies are Saman Poor
and Glen paw Mara. It's seven o'
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Betrayal Season 5
Saskia Inwood woke up one morning, knowing her life would never be the same. The night before, she learned the unimaginable – that the husband she knew in the light of day was a different person after dark. This season unpacks Saskia’s discovery of her husband’s secret life and her fight to bring him to justice. Along the way, we expose a crime that is just coming to light. This is also a story about the myth of the “perfect victim:” who gets believed, who gets doubted, and why. We follow Saskia as she works to reclaim her body, her voice, and her life. If you would like to reach out to the Betrayal Team, email us at betrayalpod@gmail.com. Follow us on Instagram @betrayalpod and @glasspodcasts. Please join our Substack for additional exclusive content, curated book recommendations, and community discussions. Sign up FREE by clicking this link Beyond Betrayal Substack. Join our community dedicated to truth, resilience, and healing. Your voice matters! Be a part of our Betrayal journey on Substack.