Standard Bank CEO Ben Kruger: Forget 25% ROEs – 15% is the new normal

Banks are businesses that are strongly keyed to interest rates. When rates are high, banks tend to see their earnings increase, albeit with a simultaneous growth in bad debts. When rates are low, bank margins get tighter even as lending books grow. It’s no surprise, then, that Standard Bank has seen its return on equity shrink … Read more

Warren am

Warren Buffett: Some of my thoughts about investing

On May 3, I will be among around 30 000 who make the annual pilgrimage to Omaha for the annual general meeting of Berkshire Hathaway, the $286bn group built by Warren Buffett (83) and his business partner Charlie Munger (89). The two gents spend five and a half hours answering questions from the audience in … Read more

Shoprite, Aveng, Naspers: RECM’s Jan van Niekerk takes stock

If you’re wondering whether it is a good time to buy shares like Shoprite and Aveng, which released results this week, or Naspers – which announced that CEO Koos Bekker was stepping away from the helm for a sabbatical – you can’t go wrong listening to the views of Jan van Niekerk. The Chief Executive … Read more

Judge approves live TV testimony in Reeva trial

From SAPAThe High Court in Pretoria granted media houses permission on Tuesday to televise parts of the murder trial of paralympian Oscar Pistorius.Judge Dunstan Mlambo said hi-tech broadcast equipment could be installed in the courtroom where Pistorius was set to go on trial next week for the murder of his girlfriend Reeva Steenkamp. “The applicants’ … Read more

CAMAC CEO says media are wrong, no bankruptcy or corruption

If you read the news, you’ve probably heard about the alleged corruption and mismanagement at CAMAC Energy, which recently received a substantial investment from the PIC and is newly listed on the JSE. With revelations of CAMAC’s contributions to Zuma’s Education Fund, and the allegedly precarious financial state of CAMAC, the story has plenty of … Read more

ABSA stops all political party funding

From the SA Press Association: Absa has stopped all political donations, the bank said on Monday: “Absa confirms that it will discontinue all political donations and that it made its final donations to political parties in December 2013.” “Absa had previously supported all political parties who had three seats or more in the National Assembly.” The … Read more

Illegal mining tragedy looms – NUM’s Baleni

From the SA Press Association: A major tragedy is looming in disused mines if government does not take decisive action to curb thriving illegal mining, the National Union of Mineworkers (NUM) said today. “We have been urging the ministers of police and mines to improve on their intelligence side,” NUM general secretary Frans Baleni told reporters in … Read more