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Home > The Money Show > Massive Internet problems in South Africa. Standard Bank & Exxaro Resources' executives on the economy and thief financial results


	Podcast:		The Money Show
	Episode:		Massive Internet problems in South Africa. Standard Bank & Exxaro Resources' executives on the economy and thief financial results
	Category:		Business
	Duration:		01:18:28
	Publish Date:		2024-03-14 18:17:38
	Description:		• Multiple subsea cable breaks causing internet chaos in South Africa. Arthur Goldstuck, Founder and CEO at World Wide Worx explains the widespread problems are affecting the internet in the country. • Sim Tshabalala, CEO at Standard Bank Group reported a 6% increase active , digital transactions up 30%, assets under management up 7%. Despite 2023's global uncertainty, South Africa's inflation peaked at 7.1% and ended at 5.1%, with GDP growth at 0.6%. Tshabalala emphasises resilience, strategic focus, and commitment to sustainable finance and Africa's growth. • Exxaro Resources delivered robust results despite tough conditions: zero fatalities, lower revenue of R38.7 billion (down 17%), and EBITDA at R13.4 billion (down 29%). The coal business stood out despite challenges, and Exxaro declared dividends totaling approximately R5.4 billion. CEO Nombasa Tsengwa highlighted safety achievements and a focus on sustainable growth. • The splitting of retirement funds is a double-edged sword and could lead to not having sufficient retirement capital, according to retirement planning with consultant Bruce Cameron, co-author of 'The Ultimate Guide to Retirement in South Africa'. However, Christopher Axelson - Acting Head of Tax & Financial Sector Policy at National Treasury says do not be afraid. See omnystudio.com/listener for privacy information.
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