BizNews Radio

Iranian-born and bred economist Dr Iraj Abedian is baffled by loyalty expressed by SANDF general to his homeland’s theocratic regime - arguing it carries zero upside and substantial downside for South Africans. Abedian says those who pay General Rudzani Maphwanya’s salary - and soon his generous pension - should be demanding an explanation. In this insightful interview, the academic-turned-entrepreneur also offers context on the significant challenges its Iranian connection is causing MTN. He spoke to BizNews editor Alec Hogg.

Multi millions of Rands are lost to sextorion, extortion, and extreme extortion by police impersonators and corrupt cops in South Africa. So says Specialist Investigator Mike Bolhuis who has investigated many such cases. “It is too much to count and it's too difficult to give the statistics, but just to shock the public: We have more than I would say 10 million photos, if not more, during the last 20 years of sextortion alone, which we have stored and kept and which we keep as to see if they're going to be used again.” Bolhuis further describes how kidnappers are weaponising sexual violence for extortion by filming threats of rape or actual rape to ensure a bigger faster payout from the family who would want to prevent distribution of the material. He reveals that in 90% high-level kidnappings, the ransoms are paid out. He says the kingpins walk free because these organised crime syndicates have all the facets of a Mafioso infrastructure organisation. “It is so strong that it hijacks the country; it completely controls the country - and it is untouchable.” However he expresses the hope that the recent allegations by whistleblowing General “Lucky” Mkhwanazi will “will implode and explode this complete stronghold that this organised crime gang, Mafioso group, has in our country.” Meanwhile, Bolhuis has some advice for especially the rich and famous on how best to protect themselves.

In today's BizNews Briefing, South Africa’s BEE debate intensifies as Dawie Roodt warns of “black billionaire empowerment,” while Cape independence draws fresh attention from Washington. Mining expert Peter Major likens ANC exploration policy to a “tourniquet” choking the sector’s lifeblood, and columnist William Saunderson-Meyer cautions that the nation is in a “very dangerous place.” Plus, Bloomberg exposes gaming of the US work visa system, Spur and Exxaro release results, and Atterbury battles boardroom upheaval - all wrapped up with a light-hearted viral clip of a singing dog.

In the debut episode of Miningweb.com’s flagship show featuring inimitable Peter Major, the conversation covers topical developments of interest to investors. This week’s menu kicks off with Anglo American’s results and an aborted coal sale to Peabody and accelerates. Major spoke to BizNews editor Alec Hogg.

South Africa’s economic chickens are coming home to roost. Economist Dawie Roodt warns that Black Economic Empowerment has enriched a politically connected elite while leaving the majority trapped in poverty. He says powerful trade unions are pricing workers out of jobs and strangling productivity, while the state is failing in its most basic duty to keep citizens safe. For Roodt, the penny is finally dropping - South Africans are waking up to the link between bad policy, job losses, and a shrinking economy.

In today’s BizNews Briefing, The Economist delivers a stinging critique of South Africa’s BEE policies, warning they enrich the few while impoverishing the nation. Generals Maphwanya and Mkhwanazi dominate headlines - one for a controversial trip to Iran during tense US trade negotiations, the other for exposing deep collusion between politicians, unions, and criminals. Meanwhile, parliamentary oversight comes under fire - literally - as Ian Cameron and colleagues are attacked during a SAPS visit. On the business front, DRD Gold posts robust dividends, Naspers veteran Koos Bekker’s lieutenant steps down a billionaire, and AI stocks face a sharp Wall Street correction. The national dialogue also takes heat, this time from a young student leader giving voice to South Africa’s frustrated youth.

Ian Cameron, the Chair of Parliament's Portfolio Committee on Police and the Democratic Alliance Spokesperson on Police. has vowed to continue his work following a horror attack on his life in which two of his colleagues were also injured. In this interview with BizNews, he describes the violent attack following an oversight visit to the Phillipi SAPS Training Academy that has been mired in allegations of corruption and mismanagement. Despite previous Threat and Risk assessments done by the police that indicated that some kind of protection was necessary for Cameron, that has still not been implemented. As for the motive behind yesterday’s attack, Cameron says: “It's not going to stop us, whether it was targeted or not. We're going to continue doing what we do.” At the time of interview two of the three attackers were in custody, one - shot by Cameron - in a critical condition under police guard, while the third was being traced.

A small contingent of around 200 South African soldiers faced a force of up to 7,000 Seleka rebels during the Battle of Bangui in March 2013, a conflict that lasted for three days. The South African troops fought with extraordinary bravery and tactical skill, suffering 13 fatalities and 27 injuries while inflicting up to 800 casualties on the rebels. Their allies from the Central African Republic's army (FACA) and the regional force (FOMAC) abandoned them, leaving them exposed and outnumbered. The mission, rooted in a 2007 defence agreement, highlighted significant strategic missteps and severe military capability gaps, including a lack of air support and strategic airlift. This harrowing story underscores the human cost of geopolitical decisions and the critical need for a nation's military ambitions to align with its actual capabilities. Disclaimer: This podcast was created by Google's NotebookLM, with content checked and edited by BizNews.

A lot of empty plastic bank bags were among the expensive bottles of whiskey and boxes of cigars left behind by the Guptas when they fled South Africa. So says Clive Lazarus, the Director of Park Village Auctions (PVA), the house that has sold the infamous Gupta compound where politicians and businessmen entertained lavishly during the State Capture era. The compound’ three properties, numbers 3, 5, and 7 Saxonwold Drive, Sandton, Gauteng, and their contents of furniture and appliances fetched an estimated total of R34,500,000. To date, PVA, on behalf of the Business Rescue Practitioners, has successfully disposed of Gupta-owned assets previously belonging to Confident Concept, Islandsite Investments, Koornfontein Mines, Optimum Coal Mine, Optimum Coal Terminal, The New Age Medial and VR Laser Services, clawing back “maybe in the hundreds of millions,” says Lazarus, adding, however: ”but the Business Rescue Practitioners have sold a lot privately, not through auction. That amount I wouldn't be able to give you, but it's a considerable amount of money. I would presume in the hundreds of millions of rands.” He notes that PVA is “proud” to be involved in many State Capture auctions.

Despite being the focus of a concerted campaign to eject him from the country, Western Cape Independence protagonist Phil Craig is continuing his fight to get the province out of the country tacked together in 1910 by a colonial power. In this interview with BizNews editor Alec Hogg, the co-founder of the Cape Independence Advocacy Group explains how a five-week working trip to the US - and continued own-goals by Pretoria - has injected fresh momentum into the project.