Nervous South Africa feverishly working on Brexit 'insurance policy'

pixabay.com, 2019

The United Kingdom is South Africa’s fourth largest (after China, Germany and the US) export destination.

In other words, Brexit matters.

The British parliament on Wednesday ruled out leaving the European Union (EU) without a deal.

The motion, however, is not legally binding - a worst-case scenario is still a possibility.

The Money Show’s Bruce Whitfield asked Lionel October (Director-General at the Department of Trade and Industry) how the Brexit saga is affecting South Africa.

Listen to the interview in the audio below (and scroll down for quotes from it).

Theresa May gets a snotklap after snotklap…

Bruce Whitfield, The Money Show

Our biggest worry is that they would leave without a deal… We’re working on an ‘insurance policy’ in case they have a hard Brexit…

Lionel October, Director-General - Department of Trade and Industry

At least within the madness, there’s a pragmatic majority emerging for not leaving without a deal…

Lionel October, Director-General - Department of Trade and Industry

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
South Africa is flirting with recession. Again. How to 'create your own economy'

South Africa is flirting with recession. Again. How to 'create your own economy'

The timing could not be better to create your own economy, says small business guru Pavlo Phitidis.

2 out of 5 MPC members wanted to cut rates. Lesetja Kganyago said, 'No!'

2 out of 5 MPC members wanted to cut rates. Lesetja Kganyago said, 'No!'

Inflation is low; the economy is weak. But Lesetja Kganyago is taking no chances, says FNB's Mamello Matikinca-Ngwenya.

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.

You can now apply to generate electricity and feed it into the grid

You can now apply to generate electricity and feed it into the grid

The change comes after Energy Minister Jeff Radebe told the National Energy Regulator of SA to license applications to do so.

How to calculate how much money you need to never have to work again

How to calculate how much money you need to never have to work again

How much is enough? Is there a simple calculation? Warren Ingram, a personal financial advisor at Galileo Capital, explains.

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up, gets vulnerable about money

Former Morning Live co-anchor Tracy Going opens up about her attitude to money (hopes and fears, successes and failures, etc.).

Popular articles
[WATCH] BMW's tribute to Mercedes-Benz maker CEO Dieter Zetsche goes viral

[WATCH] BMW's tribute to Mercedes-Benz maker CEO Dieter Zetsche goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

Enjoy life and save for the future by splitting income using the '50/15/5 rule'

You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.

You can now apply to generate electricity and feed it into the grid

You can now apply to generate electricity and feed it into the grid

The change comes after Energy Minister Jeff Radebe told the National Energy Regulator of SA to license applications to do so.

[WATCH] Twin toddlers climbing a fridge has Twitter in stitches!

[WATCH] Twin toddlers climbing a fridge has Twitter in stitches!

Khabazela shares tweets and Facebook posts that have gone viral.

'Thuli Madonsela’s name has been mentioned for Deputy President'

'Thuli Madonsela’s name has been mentioned for Deputy President'

Lumkile Mondi (Wits), Ferial Haffajee and Busisiwe Mavuso (Business Leadership SA) on the President's upcoming "slim" Cabinet.

[Exposed] Car dealerships, banks in cahoots; you’re not always getting best deal

[Exposed] Car dealerships, banks in cahoots; you’re not always getting best deal

Consumer journalist Wendy Knowler uncovered evidence of banks sending dealer principles on holidays abroad for hitting targets.

'The criminals in the ANC will gang up on Cyril Ramaphosa'

'The criminals in the ANC will gang up on Cyril Ramaphosa'

Political analyst Prince Mashele and Richard Calland dissect the political landscape as 6th democratic Parliament in SA begins.

Dis-Chem drives ad expert to 'Steve Hofmeyr-like assaults' on his decoder

Dis-Chem drives ad expert to 'Steve Hofmeyr-like assaults' on his decoder

"It’s been said you can’t bore people into buying your brand. Someone should’ve pointed this out to Dis-Chem," says Andy Rice.

'It is very clear that Ramaphosa is under attack from Magashule and others'

'It is very clear that Ramaphosa is under attack from Magashule and others'

News24 editor-in-chief Adriaan Basson says there is a definite fight back from the ANC secretary-general against the president.