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Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
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Comrades board member Rory Steyn tells Alec Hogg that Swimming South Africa, whose top two officials are suspended by World Aquatics, needs the governance overhaul cricket went through - a majority of independent directors, with Olympian Tatjana Smith the ideal candidate. Fourteen months after their daughter's murder, her parents are still waiting: the suspect was released from a police station without bail and has vanished. The DA's Lisa Schickerling says acting Police Minister Firoz Cachalia has plans but no implementation, and Operation Prosper isn't prospering. Plus Neal Froneman's Cape Town F1 bid, and Anthropic's IPO prospectus.
In two years, Comrades runners threw out a board accused of vote-buying and steering tenders to friends, and cut ties with the provincial and national athletics bodies to run their own race. Swimming South Africa had to wait for an integrity panel in Switzerland to act. Rory Steyn, Nelson Mandela's former bodyguard and now a Comrades Marathon Association board member, told Alec Hogg why one could fix itself and the other could not, and why he believed too many of the country's sports federations were run by politicians dressed up as administrators. He went through the suspensions that have piled up since March, from SASCOC to athletics, swimming, karate and netball, set out what he would do in Gayton McKenzie's shoes, and asked why an Olympic champion had to fight her own federation for her prize money. His challenge to everyone else in South African sport: Comrades has done it, so what is stopping you?
In this interview with Chris Steyn, two grieving parents describe their 14-month fight to bring to justice the alleged killer of their daughter Kerry Vorster. The suspect's whereabouts are a mystery after he was released, allegedly without paying bail, having no physical address and without providing a contact number. The police allegedly took four months to try to obtain the post mortem report that was delayed further by two months, apparently because of electricity supply issues and the pathologist being on maternity leave”. Although the police promised to rearrest him on receipt of the report and the prosecutor promised to subpoena him on evidence of a cell phone number placing him at the crime scene, her family have seen no such progress. Now, 14 months after the murder, they have been told the fingerprints are still to be verified, meaning - with the huge forensics backlog - this simple matching exercise could take four years. Her father charges: “The violence was such that he severed her jugular vein, her carotid artery, and penetrated her lung…he could have killed a wild boar with the power that he used with that knife….He intended to kill her. He stabbed her with force enough to kill a wild animal.” In voice recordings left on the phone of his estranged wife, the suspect claims that the victim had attacked him and had stabbed herself in the back. Listen to those recordings here.
Two equally responsible South Africans can do everything right, save diligently, keep their costs down, earn a decent long-term return, and still retire with very different outcomes. Fred van der Vyfer, executive head of product solutions at Old Mutual Corporate, tells BizNews the reason often comes down to nothing more than timing, whether someone retires, is retrenched, or simply starts drawing an income at the wrong point in the market cycle. Van der Vyfer makes the case for a better outcome than the industry's usual fix of dialling down risk as retirement nears, arguing instead for rethinking how the investment journey itself is designed. That thinking includes a newer model called Collective Defined Contribution, which Old Mutual is set to roll out its own version of in the coming weeks. It is based on sharing risk across a group of members rather than each person carrying it alone, Van der Vyfer also explains what this means if you're already retired and living with the risk of simply outliving your money. – Linda van Tilburg
Twenty-seven people were killed in two mass shootings in a single weekend, and the DA's Lisa Schickerling wanted to know where the police were. She told Chris Steyn why growing criminal networks had to be dismantled, and why the leadership of the private security regulator, raided by the SIU and the Hawks in a R130m training-contract probe, should have been placed on precautionary suspension to protect the process. Speaking the day after Donald Trump's 22 September address to the UN General Assembly, former Eskom grid chief Andy Calitz traced how energy infrastructure became a military target, from Ukraine's power grid to the Strait of Hormuz, and explained why the threats against Iran sent shudders down his back. Jasmine Opperman asked who was watching South Africa's spies with the Inspector-General of Intelligence suspended, and Helen Zille explained why a DA-run Joburg would look like an empty plot for months before anything rose out of the ground. Reuters rounded off with the latest from Wall Street.
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