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Finweek - English 18 April 2019

Finweek is South Africa’s leading financial weekly magazine focusing on investment. With its brisk, creative and authoritative analysis of business and investment issues, it’s an essential business tool in the daily battle for competitive advantage. Today's business decision-makers have to cope with increased pressure on their time and are expected, more than ever before, to succeed in the face of stiffer competition. Finweek provides relevant information in quick bytes, along with award-winning investment advice.

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access_time2 min.
from the editor

it’s interesting that South Africans expect a sudden change post the elections on 8 May, someone in an executive position with an LSE-listed company commented to me earlier in April. After all, we’re now 25 years into a democracy, and if South Africans should have learnt anything from those 25 years, it should be that nothing changes quickly, he said. Therefore, we should know by now that, regardless of the outcome of the elections, we won’t see sudden leaps in confidence (or the lack thereof) in the local economy. Simply put: the economy won’t suddenly pick up speed after 8 May. The IMF gave us a timeous reminder of exactly how difficult it could be to get some momentum in the local economy. In its most recent update, it cut its growth forecast…

access_time4 min.
when not to buy a house

economists now know that humans are not rational agents, maximising our utility every moment of every day. We make poor decisions, often choosing the less efficient outcome – and we often do so predictably. We don’t want to give up something even though we’d be unlikely to buy it at that same price (loss aversion effect). We tend to overestimate the likelihood of events which we recall more easily, which can be influenced by how recent, unusual or emotionally charged the memories are (availability heuristic). We place a disproportionately high value on objects that partially assemble themselves, like furniture from IKEA, regardless of the quality of the end result (known as the IKEA effect). These predictably irrational behaviours have spawned an entire subfield of economics – behavioural economics – which has been applied…

access_time1 min.
finweek - english

EDITORIAL & SALES Editor Anneli Groenewald Managing Editor Jana Jacobs Journalists and Contributors Simon Brown, Johan Fourie, Moxima Gama, Lloyd Gedye, Glenneis Kriel, Schalk Louw, David McKay, Maarten Mittner, Timothy Rangongo, Petri Redelinghuys, Melusi Tshabalala, Amanda Visser, Glenda Williams Sub-Editor Katrien Smit Editorial Assistant Thato Marolen Layout Artists David Kyslinger, Beku Mbotoli Advertising Paul Goddard 082 650 9231/paul@fivetwelve.co.za Clive Kotze 082335 4957/clive@mediamatic.co.za Sales Executive Tanya Finch 082 961 9429/tanya@fivetwelve.co.za Publisher Sandra Ladas sandra.ladas@newmedia.co.za General Manager Dev Naidoo Production Angela Silver angela.silver@newmedia.co.za, Pam Moodley pam.moodley@newmedia.co.za Share your thoughts with us on: @finweek finweek finweekmagazine…

access_time5 min.
in brief

“I’M SAYING TO THE GOVERNMENT DON’T DO IT.” – Anglo American Platinum CEO Chris Griffith is not in favour of government’s proposed carbon tax of R120 per tonne of carbon dioxide (in its first phase). Speaking on the sidelines of an industry conference to Reuters he said the new carbon tax could possibly cost the mining house around R50m over the next two years. Griffith further said the cost would rise to between R200m to R300m from 2021, from when a tax on electricity is included. The carbon tax bill was approved by Parliament in mid-February and seeks to reduce harmful carbon emissions in Africa’s most industrialised country. “WE WILL EXPLAIN THAT IN EUROPE WE ARE INSISTING THAT EUROPEAN FIRMS IN CHINA SHOULD ENJOY THE SAME RIGHTS AS CHINESE FIRMS IN EUROPE.” –…

access_time4 min.
local tech solution for cars of all seasons

rivo Mhlari had always dreamt of having his own business. He therefore frequently attended business seminars and surrounded himself with business leaders to identify gaps in the market. In 2013, during a seminar focusing on businesses using artificial intelligence, he realised that machine learning was the next “big thing” and started looking for a way to cash in on this trend. His market research revealed that most top-end vehicles were already furnished with the latest technology, so he decided to focus on creating a “mass solution” for less sophisticated vehicles. The technology has therefore been built to operate on any vehicle made from 1996. Mhlari, who was studying accounting at the University of Cape Town at the time, bounced the idea off his friends, after which Jesse Matheri, who studied geomatics, regularly…

access_time3 min.
is seriti eyeing another deal?

seriti Resources is one of five companies thought to have been shortlisted by South32 in terms of its planned sale of South African Energy Coal (SAEC), the 27m-tonne a year (Mt/y) coal producer. The others, according to market sources (and not confirmed by South32 or any of the alleged participants), are Phuthuma Nhleko of Phembani Group in joint venture with Robert Gumede of Gijima Technologies-fame; Sibambene, a new coal entrant which has Vuslat Bayoglu as a shareholder and is in joint venture with Mercuria; Ichor Coal; and a joint venture between Exxaro Resources and Wescoal Holdings. Mike Teke, CEO of Seriti Resources, won’t comment on the potential bid for South32’s SAEC, but he does betray an interest in the assets (which coal producer hasn’t?) as well as a degree of exasperation. “Everyone…