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by Platinum Wealth at Today, 09:06 AM
Cell C says its data is 28% cheaper than a year ago – but it is charging more for voice

On a per-megabyte basis its effective price for data declined by 28%, year on year, in the the first half of 2018, Cell C said in an investor presentation released by its new parent company, Blue Label, on Tuesday.

At the same time its data revenues increased by a fifth, as data traffic spiked by 62% compared to the previous year.

The numbers are roughly in line with those reported by Vodacom in July, when it said its average data cost had decreased by 17.1% in the three months prior, with a 10% increase in revenue as usage spike.

At the same time its customers continued to make old-style phone calls less and less, Cell C said, with a 10% year-on-year decline in voice traffic. However, its revenues for voice calls were down only 6% – because it effectively charged 3% more for every minute in telephone calls.

Like other networks, Cell C is seeing customers shift to WhatsApp voice calling, or other similar platforms, as WhatsApp calls become increasingly cheaper than voice call.

Cell C also report 60,000 "completed transactions" on its entertainment service Black, which competes with the likes of DSTV, though it said it had 260,000 people on free trials for the service.
by Platinum Wealth at 08-17-2018, 10:24 PM
  • South Africa might be in its ninth recession in the last 45 years.

  • A sharp slowdown in economic activity and concerns about land and mining policy are weighing on investment

  • Politicians are not helping.

Economists at global bank HSBC have sent a note to clients this week warning that they expect the South African economy to have contracted in the second quarter. It’s expecting a marginal decline of just 0.1% on top of the first quarter's 2.2% contraction. Still, two quarters of contraction would mean South Africa was in a technical recession.

“We now think data released on 4 September will show that South Africa contracted by 0.1% q-on-q in Q2 2018, tipping the economy into recession,” write economists David Faulkner and Thato Mosadi at HSBC Securities.

The HSBC analysis reflects the worrying tone of a statement from Moody’s, the only global ratings agency that still maintains an investment grade on South Africa, that the country is not moving fast enough to cut the cost of a bloated civil service and its attempts at fiscal consolidation are just too slow. After days of sharp currency depreciation amidst fears of currency contagion from the Turkish lira crisis, the rand retreated sharply on concerns for the South African economy.

Amidst the recent announcements of impending job cuts at Goldfields and Impala Platinum, HSBC warns mining, despite some optimistic one-month figures showing expansion in June of just over 2%, will contract over the quarter along with manufacturing and electricity output.

If South Africa does see contraction in the second quarter, it will put the economy into its second recession in 18 months and ninth since the oil crisis of the early 70's. South Africa endured two recessions in quick succession in the early 90’s amidst deep concern about the shape the economy would take once the ANC came to power. The party’s commitment to openness and a free market economy led to a period of expansion not seen since the 1960’s and the economy grew uninterrupted between 1994 and the global financial crisis in 2009. If HSBC is right, this would be the third recession post the financial crisis at a time when the rest of the world has been seeing stellar growth.

If we are completely honest with ourselves, South Africa has felt like its been in a recession this year, regardless of what the data shows. When we believe that the economy is tight we are less likely to spend, and to defer consumption as this week's retail sales figures for June suggested is the case. It’s almost a self-fulfilling prophecy.

While considerable progress has been made in recent months in the long overdue clean-up in SOEs with new boards and in some cases new management teams being appointed, South Africa continues to score serious own goals. This week saw the Mineral Resources Minister Gwede Mantashe, speaking in his capacity as ANC chairperson, apparently break ranks with the president on land.

Cyril Ramaphosa has always emphasised that land restitution will not come at the expense of food security. Mantashe’s assertion that farmers should be restricted to 12,000 hectares of land undermines that point. Since 1994, only a quarter of the commercial farmers have survived, some 35,000. Farming has consolidated with fewer and fewer agriculturalists being responsible for more and more food production. It’s not unusual for farmers nowadays to be cultivating in excess of 20 000 hectares, using less labour and equipment than ever before, to produce growing quantities of food. Land policy is confusing enough as it is, and Mantashe just muddied the waters even further.

Still, despite the noise and the rhetoric, even some traditionally bearish economists are beginning to see signs that things are turning.

The post Zuma-period of Ramaphoria is well and truly over as Rama-reality has set in. The building blocks for a recovery are being put in place. It’s just going to be a very noisy recovery.

Bruce Whitfield is a multi-platform award winning financial journalist and broadcaster.
by LentilSoup at 08-17-2018, 10:14 PM
Most people who say they want to run their own business don’t necessarily end up doing it, but it’s not necessarily a bad thing said CEO of Sygnia Asset Management Magda Wierzycka.

Wierzycka was speaking at the UCT Graduate School of Business’s annual Women in Business conference held in Cape Town on Friday.

“Running your own business does not necessarily mean you got to set up your own corner shop or your own company. You can think of running your own business – as running your own business within a large corporate.

“If you consider the work you are doing currently as running a business and taking responsibility on that level and change your mindset, you will start to achieve even greater things,” said Wierzycka.

Wierzycka went on to share lessons she learned in her career.

1. You have to follow your passion

If you find that your purpose to work is just to get a paycheck at the end of the month, and if you are deadly bored, then you need to change your situation, even if it means you have to get a salary cut.

Wierzycka recalled leaving her first job to join a start-up. She earned only a third of what she had been earning in her previous job.

“Follow your passion. Whatever you do you must be passionate about it, you must love what you do.”

She encouraged those in corporates to use the “limitless” opportunities to move into a department that speaks to their passion. “That makes going to work every day a completely different experience.”

2. Consider your purpose in life

When she started Sygnia, Wierzycka said she had to consider what the business was supposed to achieve – apart from making a profit. The business had two objectives: to improve financial literacy among South Africans and to provide products at a lower cost than competitors.

Having identified these objectives, every decision they made for the business was in line with these principles.

3. Innovate, never imitate

“When you imitate you will only at best be second in line. There will always be someone who is bigger, who has a bigger budget, who has done it first.”

She encouraged delegates to come up with “crazy, creative” ideas. “Don’t be scared to put crazy ideas on the table.”

Wierzycka added that those working in corporates should use their time to learn the basics of running a business. Those basics cut across every business, whether it’s a bakery or a large corporate. The knowledge will help inform better ideas, with substance.

4. Women have to work twice as hard

Wierzycka shared that as a woman she had 60 seconds to make an impression when she presented to clients. The situation was different for male counterparts. Women need to work twice as hard, this means putting in longer hours.

Whining about it is not necessarily productive. She encouraged women to use their talent in multi-tasking and work ethic as that is valued in firms, especially start-ups.

“It’s actually better to start a business with women than men. When you start a business you need people who multi-task. Women can do 10 different things.”

5. Use technology wisely

Technology can help you, Wierzycka said. Technology can help with efficiencies and cutting costs, like those associated with marketing.

6. Speak up

“Women tend to sit back in meetings and not speak up,” said Wierzycka. She encourages women to develop their self-confidence and attend public speaking classes so that they can learn how to share their ideas. “It’s easier to express your ideas if you can articulate or project it.”

Public speaking and debate classes for girls are non-negotiables for the new world, she said.

7. Find a social cause


“When you do anything, associate it with a good social cause,” Wierzycka said. Instead of just being driven by profit, try and do something which is a force for good, she explained.

“It does not mean you must not make money. Profits are important.”

8. Hire culture not just skills

“I have learnt over time skills can be taught, a cultural mindset cannot (be taught),” Wierzycka said.

It’s important to hire like-minded people who fit your culture. Wierzycka said she has not been scared to fire people if she found she made a mistake in hiring them because they did not share the same vision. “I don’t apologise for it, I never have.”

9. No one has money to fund a clever idea

Wierzycka said she often gets asked if there are money for start-ups, to which she said there really isn’t.

Funders want to see proof of a concept. “No one will give money to anyone just because they have a clever idea. There are lots of people with clever ideas. My inbox is flooded with clever ideas.

“A clever idea is not a business. A clever idea is no indication that the person behind the idea can turn it into a business that makes money.”

Funders want something tangible, whether it is a client or a product.

The idea of venture capitalists works in Silicon Valley, right now it is not practical in South Africa.

She added that crowd-sourcing is an option, but is no guarantee of success.

10. You have to take risks

“Life is about risk and reward. Few people will stand up and give you money. You will have to recognise that you have to take risks,” she said.

Wierzycka said if you want a start a business while you’re working in a corporate, try to start saving money as early as possible.

Source: Fin24
by Platinum Wealth at 08-16-2018, 09:47 AM
Disappointing local economic releases and a return of market fears around Turkey’s financial crisis put the JSE under serious pressure on Wednesday.

The local bourse was buffeted by a cocktail of corporate and economic news, including downbeat retail sales data, a warning from ratings agency Moody’s, as well as a steep fall by market heavyweight Naspers.

The all share lost 3.41% to 55,646.2 points, while the top 40 lost 3.76%.
Gold miners slumped 7.9%, platinums 4.38%, industrials 3.8% and banks 3.34%.

Naspers, which makes up 20% of the all share, fell 8.22% to R3,060.88 after its associate Tencent reported second-quarter earnings that were below market forecasts.

Local retail sales data was also downbeat, growing 0.7% year on year in June, well below economist’s forecast of 2%. Along with recent downbeat economic releases, it now seems likely SA entered a technical recession in the second quarter, FNB senior economic analyst Jason Muscat said.

Moody’s, meanwhile, cautioned that the government’s current economic growth forecasts were overly optimistic, as were its plans for fiscal consolidation.

Global market focus was on events in Turkey, after that country decided to up the ante in its dispute with the US by leveling additional tariffs on US goods.

Metals were sharply sold off, with the spike in risk coming even as markets begin digesting the economic effects of the trade war in China, analysts said. Recent Chinese data has also disappointed, with growing fears that its economy is slowing despite stimulus efforts, reported Dow Jones Newswires.

Diversified miner Anglo American slumped 6.02% to R280.48, BHP 3.71% to R297.97 and Glencore 3.27% to R55.37.

Kumba Iron Ore plummeted 9.67% to R263.31.

Gold Fields crashed 10.85% to R37.30, having announced on Tuesday it was planning job cuts at its loss-making South Deep mine.

Rand hedge AB InBev gained 2.82% to R1,427.14.

FirstRand fell 4.75% to R62.20.

Source: Business live
by Spreadsheet Ranger at 08-16-2018, 08:35 AM
Tesla Inc. has received a subpoena from the U.S. Securities and Exchange Commission regarding Elon Musk’s effort to take the company private, indicating the regulatory scrutiny of his statements have reached a more serious stage.

The demand for information, described by a person familiar with the matter, followed Musk’s tweet last week saying he was considering taking Tesla off the market and had “funding secured” for the deal. The electric-car maker’s shares dropped 2.6 percent to $338.69, closing at the lowest since the chief executive officer set off a firestorm last week.

SEC spokeswoman Judith Burns and a Tesla spokesman declined to comment.

Musk exposed himself to legal risk by tweeting Aug. 7 that he had the funding for a buyout. Almost a week later, the chief executive officer said the basis for his statement was conversations with Saudi Arabia’s Public Investment Fund, which first expressed interest in helping take the company private in early 2017. Tesla’s board has since clarified that it hasn’t received a formal proposal from Musk, who’s also chairman, nor has it concluded whether going private would be advisable or feasible.

“The whole format of his announcement was highly problematic and very unusual,” Harvey Pitt, a former SEC chairman who now leads advisory firm Kalorama Partners, said Wednesday on Bloomberg Television. “You can’t tell a lie.”

Fox Business reported earlier that the SEC sent the subpoena.

Musk also tweeted on Monday that Goldman Sachs Group Inc. and Silver Lake would act as financial advisers, but neither had officially signed on at that point, people familiar with the matter said Tuesday. Goldman Sachs on Wednesday suspended its ratings and price target for Tesla stock, citing its role as an adviser.

Tesla may face potential regulatory challenges beyond the SEC investigation. The company probably will need approval of U.S. national security officials if Saudi Arabia finances the effort to take the company private, and President Donald Trump’s administration has been stepping up scrutiny of foreign investment in American technology.

Bloomberg

Sent from my SM-G920F using Platinum Wealth mobile app
by Platinum Wealth at 08-15-2018, 03:36 PM
South African money manager Sygnia [JSE:SYG] closed all its hedge-fund products, ending a 13-year history with an investment strategy its chief executive officer now calls a ruse to pocket fees.

“Once you know that the emperor has no clothes you cannot in good conscience support what has become a management-fee racket,” Chief Executive Officer Magda Wierzycka wrote in an opinion piece in Johannesburg-based daily newspaper, Business Day.

While investors ignored the fees managers were charging during bull markets, this has changed with the onset of regulations that forced hedge funds to convert into mutual funds and adopt more transparent fee structures, Wierzycka argued. The end of quantitative easing and cheap money flowing into emerging markets has also brought a period of outflows and negative, volatile market returns, she said.

“This should be the ideal time for hedge funds to show they can finally deliver on the promise of preserving capital,” the CEO said. “The sad truth seems to be that they cannot.”

The Cape Town-based money manager, which has R181bn in assets, has now fired all its hedge fund managers and “hopefully closed a chapter on this form of investing”, she said, without saying how many staff or funds were affected, or commenting on the actual returns made by Sygnia’s hedge funds.

“After long advocating the use of hedge funds as a way of managing the downside risk of an investment strategy, I have swung 180 degrees in the other direction,” Wierzycka said.

Source: Fin24
by Spreadsheet Ranger at 08-14-2018, 08:52 PM
Mark Minnie's book 'The Lost Boys of Bird Island' names three former National Party ministers, including Magnus Malan, as central figures in a paedophilia ring that operated during apartheid.

https://www.google.co.za/amp/amp.ewn.co....found-dead

Sent from my SM-G920F using Platinum Wealth mobile app
by iamsediii at 08-11-2018, 08:41 AM
Web Development. Understand how the web works. Requests, responses, cookies, sessions, etc.. 

- PHP 

- Ethereum, Bitcoin, ABI (contracts) 

- Javascript, CSS, HTML5 

- MySql. Basic understanding of relational databases 

- Clear understanding of Git. 

For this position we need someone that MUST know PHP, Ethereum ABI, MySql, and Git. Otherwise, don’t even bother. 

Compensation: 5000-10000$/mo + bonus 

Email: [email protected]
by SlimArchi at 08-07-2018, 02:25 PM
I’ve been thinking about buying a few mondi shares and I’ve noticed that they’re listed twice- once as Mondi Ltd and another as Mondi Plc. They both appear to be similar with the same share price and movement.

So does anyone know the difference between these two listings?
by Red88 at 08-05-2018, 05:07 AM
Showing encouraging signs of recovery after the prospect of injection of funds following the sale of the Macsteel interest. In spite of the criticism of AM being an outdated steel producer, in the African context it is indeed a sleeping Giant and an enormously important asset especially in view of the deteriorating Rand value. With patience, some rewarding growth results may be forthcoming after an economic upturn in South Africa. Any comments on this view?
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