Daily Insider: Local is Lekker – look out for the subtle change in our focus

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Local is Lekker – look out for the subtle change in our focus

The thing I learnt above all else in the nine years since starting BizNews, is the value of listening. And as an online publisher, we’re blessed by being able to quantify exactly how much and how long our tribe consumes what we produce.

One area where we haven’t been sufficiently attentive is in the coverage of local investment news – ie of JSE-listed companies. Because offshore investments are so poorly covered by SA media, we’ve had a weighting towards global markets – especially Big Tech stocks listed on Wall Street.

That approach has paid off by helping our community better understand these opportunities – and the appeal of riding on the back of exponentially expanding global giants. But there’s not a whole lot of value we can add to a report on Apple or Amazon. Whereas that’s the opposite case applies with the increasingly ignored JSE-listings.

Our intense offshore focus led to neglect our own local champions. A deficiency we’re in the process of putting right. Last week’s in-depth results interviews with banking CEOs Sim Tshabalala and Mike Brown were well received. We’ve got Sasol’s Fleetwood Grobler and Absa’s Arrie Rautenbach coming up. If you’ve got a business leader you’d like us to quiz, please let me know – [email protected].


WATCH: After running hard since mid-July, Standard Bank’s share price dropped on the release of half year results to end June, reflecting Mr Market’s inclination to buy on rumour, sell on fact. But with a 33% surge in headline earning to a fresh half year record, CEO Sim Tshabalala’s description of “reasonable” results is an understatement. The bank’s numbers are now back to pre-pandemic levels and in this in-depth interview with Alec Hogg of BizNews, the man who will next year celebrate a decade in the top job looks ahead and addresses key issues including booming non-SA operations; ambitious commitments for 2025; and 20% Chinese shareholder ICBC whose $5.6bn investment in 2007 is now worth a modest $3.5bn. Tshabalala also responds to criticism on BizNews by SA’s leading banking analyst Kokkie Kooyman who opined that rather than challenging FirstRand as SA banking’s top dog, Standard Bank’s #2 spot is in danger of being yielded to Absa.

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