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Finweek - English

Finweek - English 5/14/2021

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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South Africa
Media 24 Ltd
25 Issues

in this issue

2 min
from the editor

a year after Margaret Thatcher’s Conservative Party came to power in the United Kingdom, she made a speech at the party’s congress in Brighton. She is remembered for her “the lady is not for turning” remark. However, in my humble opinion, she mentioned something far more important earlier in her speech. “There are many things to be done to set this nation on the road to recovery, and I do not mean economic recovery alone, but a new independence of spirit and zest for achievement.” By the time Thatcher’s party came to power in Britain, the country’s economy was on its knees: high inflation, excessive state spending, sky-high tax and a state that did not trust the private sector to drive large industries. She paid attention to all of these issues in…

4 min
the future of sport

one of my favourite sporting memories is watching live Fifa World Cup games in 2010. Nothing could match the exhilaration of game day, the trip to the stadium, the singing of the national anthems, the buzz of the vuvuzelas, the goals, the banter, the cheering. Or could it? As Covid-19 hit, sport was one of the first industries to shut down. To find out just how much this had changed the sports industry, I asked Brendon Fourie, co-founder and CFO of Four Nations Football Consulting, a management consulting firm based in Barcelona dedicated to helping sports clubs and associations navigate the murky waters of sports business. “The unsustainable financial models at the majority of soccer clubs specifically were bound to fail. Total losses for all 20 clubs in the English Premier League…

7 min
how to turn around a continent

on 5 June 1947, US Secretary of State George Marshall announced the European Recovery Program (later known as the Marshall Plan) in a famous commencement address at Harvard University. He said that it was “logical” for the US to do whatever it could to restore the region to economic growth, “without which there can be no political stability and no assured peace”. The plan, funded by the US government and administered by a Europe-wide commission, spent $13bn over four years and engendered the highest rate of economic growth (about 35% per year) in European history. When the work of the plan was finished, the economies of every Western European country had not just returned to pre-war levels of growth and economic development but surpassed them. Ever since, the Marshall Plan…

1 min
in brief

“BREAKDOWN OF PARTY MORALITY.” – President Cyril Ramaphosa said corruption “leads to a breakdown of party morality, and the ANC becomes less attractive, and it leads to the loss of electoral support. If we don’t [do something], we are on a one-way ticket to oblivion and defeat,” on the second day of his testimony on state capture and his role in addressing it. He told the Commission of Inquiry into State Capture that when polls started coming in ahead of the local government elections in 2016, the ANC realised corruption had become a problem.…

1 min
“much-needed technical and commercial expertise.”

—The department of public enterprises announced that South Africa is in the final stage of negotiations with a potential investor for its grounded flag carrier, a move that would give the airline a boost just as it emerges from bankruptcy protection. The deal will bring capital and “much-needed technical and commercial expertise” to South African Airways, said the department in a statement. The government didn’t disclose the identity of the potential investor. Ethiopian Airlines Group, Africa’s biggest airline, has publicly expressed interest, but has stressed in the past it would be an operational partner rather than financial backer.…

1 min
“1.3m new jobs… more jobs in the first 100 days than any president on record.”

– US President Joe Biden made a claim during his first address to Congress that the economy has gained some 1.3m new jobs in the first few months of his administration — more than in the first 100 days of any presidency. The BBC reported that he quickly pivoted to the need to pass his American Jobs Plan if the country is going to sustain momentum and get back to the historic low levels of unemployment before the pandemic. Since January, the US economy has added 1 384 000 jobs, according to the US Bureau of Labor Statistics.…