August 24, 2015

HI THERE Silicon Valley insiders talk of the "Paypal Mafia", a dozen fabulously wealthy men who were involved in the creation and development of the global online payment company. Their number includes three certified billionaires, many whose wealth runs in to hundreds of millions of dollars, and the founders of a string of massively successful companies including Youtube, LinkedIn, Yammer and Yelp. It's said in the Valley that if you have a great idea, the Paypal Mafia are the first people to approach. Two South Africans are among those 12 superstar entrepreneurs. Interestingly, both were born in Pretoria. Elon Musk was the biggest shareholder at Paypal when the company was sold to eBay in 2003. He doubled down the $165m he got from that sale to build an even bigger business at Tesla and SpaceX, and also found time to bankroll his cousins Lyndon and Peter Rive, also from Pretoria, in what's today the US's biggest retail renewables business, SolarCity Corp (market cap: R60bn). Best

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The Editor’s Desk: Stimulus plan – Ramarecovery or Ramafailure? Alec Hogg and I discuss the proposed SA stimulus package presented by Cyril Ramaphosa, asking whether it's going to spell Ramarecovery or Ramafailure...  Read» Share this story:

A State Capture tale: 72yrs of profitability vs R35bn in bailouts Pravin Gordhan said more than R100bn had been lost to State Capture but that’s not taking into account what profits well-run SOEs would have brought to the table...  Read» Share this story:

China gets set to exploit rapid growth opportunities in Africa During the past decade, China has been investing a lot of money in sub-Saharan Africa and some worry that this represents a new form of colonialism...  Read» Share this story:

SARB holds key rate; paints gloomier outlook SARB held its key interest rate at a two-year low…..  Read» PIC invests $100m in Afreximbank The Public Investment Corporation made an equity investment of $100…..  Read» Legislative quagmire sees SA withdraw minerals bill; to separate oil, mining South African withdrew its long-delayed draft legislation for the mining…..  Read» Advertisement

SARB holds key rate; paints gloomier outlook SARB held its key interest rate at a two-year low as the economy struggles through a recession and policy makers warned that investor sentiment toward emerging markets is a risk to the currency and that inflation pressures are mounting...  Read» Share this story:

PIC invests $100m in Afreximbank The Public Investment Corporation made an equity investment of $100 million to acquire Class B shares in the African Export-Import Bank...  Read» Share this story:

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