Today on BizNews Newswrap, Lucienne Ferreira dives into Bitcoin’s explosive new heights, fresh shifts in U.S. politics, and Johan Rupert’s bold efforts to strengthen South Africa’s trade ties. With insights on local corruption concerns, the BELA Bill controversy, and top moves in the SA stock market, this wrap has everything you need to stay ahead. Don’t miss it!
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Transcript of the video ___STEADY_PAYWALL___
Hello and welcome to the BizNews Newswrap for Monday, the 11th of November. I’m Lucienne Ferreira, here to bring you today’s top stories from BizNews.
Remember, these clips are previews. For full interviews and stories, visit BizNews TV, Radio, or .com, or catch our live BizNews Briefing at 7 a.m. on weekdays with Alec Hogg.
In today’s highlights:
- Bitcoin’s record surge with insights from Jaltech’s Jason Welz.
- David Shapiro’s take on U.S. politics and economic shifts.
- Johan Rupert’s efforts to secure U.S. trade ties for South Africa.
- MK Party founder Jabulani Khumalo on corruption and service concerns in South Africa.
- UIM president Neil de Beer on political chaos around the BELA Bill.
- And we’ll wrap up the show having a look at today’s markets
In-Depth:
- Starting off – here’s Jason Welz on why Bitcoin is seen as a groundbreaking asset, even appealing to conservative investors, as well as Welz’s advice on asset allocation.
- Next up Sasfin’s David Shapiro now discusses how economic issues, rather than social ones, are driving voter support, with renewed backing for former President Trump.
- And now, Alec Hogg reports on Johan Rupert’s push to enhance South Africa’s trade ties with the U.S.
- Closer to home, Jabulani Khumalo voices concerns over corruption and inadequate services, highlighting issues like access to clean water and affordable power in rural areas.
- Neil de Beer now criticises the ongoing confusion surrounding the BELA Bill.
As we wrap up the show, here’s a quick look at key market movements and stock performances:
Bitcoin has hit another all-time-high, trading just above 83 thousand dollars at the time of recording.
The JSE Top 40 closed down 0.32%, with resources falling just over 2%
The Rand weakened today, closing at R17.90 to the U.S. dollar, and just over R23 to the pound, due to the combination of a strengthening dollar, market volatility, and expectations of lower interest rates.
In top stock news: Woolworths shares rose by 4.6%, driven by strong growth in its core food segment as demand for premium groceries surged. Clothing and home divisions also showed recovery, though economic challenges may impact discretionary spending. Despite this, Woolworths’ food segment remains a key growth area, reassuring investors.
Vodacom saw shares dipping by 3.6% after its earnings release, with revenue growth fuelled by African market expansion, especially in digital financial services. However, rising costs and operational hurdles in South Africa, including power issues, are dampening the outlook. However, the company’s push into financial services offers long-term potential.
Pick n Pay is down 1.9% on the day, as Boxer, its discount supermarket, plans to list on the JSE on November 28th with a secondary A2X listing. The R8-8.5 billion offering will fund debt reduction and core investments. With rapid growth and a 68% share in the local discount grocery market, Boxer is set for aggressive expansion, in spite of the market’s reaction.
And lastly, Karooooo climbed 3.9%, showcasing continued resilience in today’s market.
That’s it for today’s BizNews NewsWrap. Thanks for tuning in, and don’t forget to subscribe to BizNews TV and Radio for more insights.
See you tomorrow.