Streaming issues? Report here
Azania Moaka 702 Gradient Azania Moaka 702 Gradient
The Azania Mosaka Show
13:00 - 15:00
volume_up
volume_mute

Up Next: Afternoon Drive with Joanne Joseph
See full line-up
The Azania Mosaka Show
13:00 - 15:00
Home
arrow_forward
Business
fiber_manual_record
Opinion
fiber_manual_record
Politics

Your entire economy was hijacked! How many are in prison? – Richard Quest, CNN

24 January 2020 10:47 AM
Tags:
SAA
Donald Trump
State Capture
World Economic Forum
CNN
The Money Show
Brand South Africa
Bruce Whitfield
Absa
Richard Quest
SOEs
state-owned enterprises

The Money Show’s Bruce Whitfield conducts a shocking interview with CNN’s Richard Quest at the World Economic Forum in Davos.

Absa is sponsoring Bruce Whitfield at the 2020 World Economic Forum in Davos, Switzerland.

The Money Show will bring you news and analysis all week.

Follow the coverage of WEF here.

It’s usually a joy to watch when The Money Show’s Bruce Whitfield and CNN’s Richard Quest get together.

The bromance is palpable.

This time around, however, especially if you’re a South African, the discussion was decidedly uncomfortable.

It starts innocuously with a discussion about the heavy security in Davos and Donald Trump.

There are enough CEOs in there that – God forbid – should something happen you’d do serious damage to the world economy.

Richard Quest, CNN

He [Donald Trump] came to make a speech – not a policy speech - he broke it down into a litany of American economic success, which is true, followed by a variety of comments about apocalypse and doomsayers about the environment.

Richard Quest, CNN

Then a somewhat scratchy discussion on the value of WEF and a disagreement between the two on the role of CEOs.

It may be unpalatable for viewers to accept, but ordinary people can effect change in their daily lives. These people [the elites at WEF] can effect change for countries and continents.

Richard Quest, CNN

The CEO is the moral barometer of today! It’s not terrifying. A proper CEO with true stakeholder mentality accepts that she must do well for shareholders. But, she’ll only do well for shareholders if she does well for employees. And she’ll only do well for employees if she keeps her customers.

Richard Quest, CNN

When Whitfield starts asking questions about Brand South Africa, the straight-shooting Quest gets animated.

It’s vital to hear what Quest has to say, though it makes for uncomfortable watching.

Brand South Africa has tried to put scarves around my neck… But it hasn’t got the same profile as in previous years… There’s no point in coming here to say ‘invest in me’ if you don’t have the policies worthy of it.

Richard Quest, CNN

We’ve discovered just how awful State Capture at state-owned enterprises was… You tell me how anybody who has come here for the past five or 10 years saying, ‘South Africa is going really well’, suddenly turns around and says, ‘Well, actually, the entire economy was hijacked… and we’re not even sure we’ve dealt with it’… How many people have gone to prison so far?

Richard Quest, CNN

Of course, I’ve flown SAA! It’s an excellent airline! [But] The amount of money that the South African government has to put into it is staggering! Unless there’s a proper restructuring – with government’s hands-off – you’ve got to ask, ‘Why not just shut it down?’… For South African Airlines to become profitable is going to require the most drastic restructuring, and even then, it might not. It’s worth having a go, but I’m telling you the government can’t keep its hands off it!

Richard Quest, CNN

South Africa’s government has minuscule credibility following the Zuma years and the capture of state-owned enterprises… The potential in South Africa is enormous! But you [referring to President Cyril Ramaphosa] cannot turn around and say… ‘I saw nothing and heard nothing!’”

Richard Quest, CNN

Watch the entire interview below.


24 January 2020 10:47 AM
Tags:
SAA
Donald Trump
State Capture
World Economic Forum
CNN
The Money Show
Brand South Africa
Bruce Whitfield
Absa
Richard Quest
SOEs
state-owned enterprises

Recommended

More from Business

160520DineoMoeketsi.jpg

'I spend extravagantly on shoes. I have various pairs of Christian Louboutin'

13 July 2020 8:15 PM

Arabile Gumede interviews actress Dineo Moeketsi (Langa) about her attitude to money and beliefs about it.

Share this:
Read More arrow_forward

foschinijpg

Foschini offers to buy Jet from Edcon

13 July 2020 7:34 PM

The Foschini Group is offering to buy 371 JET stores. The Money Show's Bruce Whitfield interviews portfolio manager Evan Walker.

Share this:
Read More arrow_forward

Quantitative easing printing money 123rfbusiness 123rf

Why South Africa – much like Zimbabwe - can’t print money to pay for Covid-19

13 July 2020 7:10 PM

Why "quantitative easing" can’t work in South Africa, according to Nazmeera Moola (Head of SA Investments at Ninety One).

Share this:
Read More arrow_forward

Red wine white woman female funny reaction 123rf 123rflifestyle

'Few restaurants will now survive without selling alcohol. We were blindsided'

13 July 2020 6:33 PM

Bruce Whitfield interviews reps from the Restaurant Association Of SA, Business Unity SA and the National Liquor Traders Council.

Share this:
Read More arrow_forward

ramaphosa-imbizojpg

Liquor trade council writes to Ramaphosa to ensure sale of liquor continues

12 July 2020 5:13 PM

Concerns have been raised over the impact of booze on trauma admissions since the ban on sales was lifted in June.

Share this:
Read More arrow_forward

Restaurant with spaced table for Covid-19 social distancing

Load shedding yet another blow for struggling SA businesses

11 July 2020 2:19 PM

Eskom is implementing stage two load shedding for a second day, while technicians work to bring generating units back online.

Share this:
Read More arrow_forward

Darkness, no electricity, load shedding

Loadshedding to be implemented from Friday - Eskom COO

10 July 2020 11:03 AM

More generating units have broken down, resulting in the utility battling to meet the high demand for electricity.

Share this:
Read More arrow_forward

wifi-internet-data-broadband-cell-phone-mobile-device-network-providers-123rf

Small Business Focus: How to get your marketing right in a shrinking media world

9 July 2020 8:38 PM

Pavlo Phitidis says focus must be on the customer group you are trying to reach. You've got to get your demographics right.

Share this:
Read More arrow_forward

broken-heart-broke-money-coins-finances-love-relationship-divorce-break-up-123rf

Personal Finance Feature: Julia - The super saver

9 July 2020 8:02 PM

Though leaving corporate to venture into tourism has been a big test of resilience, she is still happy with her decision.

Share this:
Read More arrow_forward

180710sactwu-strikejpg

SA is becoming a country of old people. Median age has risen from 23 to 27

9 July 2020 7:30 PM

Lumkile Mondi says skills and knowledge that have driven a lot of the growth in the past are going to be undermined.

Share this:
Read More arrow_forward

More from Opinion

160520DineoMoeketsi.jpg

'I spend extravagantly on shoes. I have various pairs of Christian Louboutin'

13 July 2020 8:15 PM

Arabile Gumede interviews actress Dineo Moeketsi (Langa) about her attitude to money and beliefs about it.

Share this:
Read More arrow_forward

foschinijpg

Foschini offers to buy Jet from Edcon

13 July 2020 7:34 PM

The Foschini Group is offering to buy 371 JET stores. The Money Show's Bruce Whitfield interviews portfolio manager Evan Walker.

Share this:
Read More arrow_forward

Quantitative easing printing money 123rfbusiness 123rf

Why South Africa – much like Zimbabwe - can’t print money to pay for Covid-19

13 July 2020 7:10 PM

Why "quantitative easing" can’t work in South Africa, according to Nazmeera Moola (Head of SA Investments at Ninety One).

Share this:
Read More arrow_forward

Red wine white woman female funny reaction 123rf 123rflifestyle

'Few restaurants will now survive without selling alcohol. We were blindsided'

13 July 2020 6:33 PM

Bruce Whitfield interviews reps from the Restaurant Association Of SA, Business Unity SA and the National Liquor Traders Council.

Share this:
Read More arrow_forward

180831-old-mutual-edjpg

Old Mutual's hackneyed new TV ad looks like Allan Gray in green – Andy Rice

7 July 2020 7:38 PM

Ouch! The Money Show's Bruce Whitfield asks Andy Rice why he gives Old Mutual’s new television commercial a “zero”.

Share this:
Read More arrow_forward

Clover blue man

Clover’s trippy blue bottle ad campaign – so bad (and bizarre) it’s good

7 July 2020 7:30 PM

People will be talking about it ‘till they’re blue in the face. The Money Show's Bruce Whitfield interviews ad expert Andy Rice.

Share this:
Read More arrow_forward

Covid-19 insurance 123rf 123rfbusiness 123rflifestyle 123rfpersonalfinance

Shareholder activists grill Santam about 'business interruption insurance'

7 July 2020 6:47 PM

The lockdown did it – not the pandemic – so we can’t pay, argues Santam. Bruce Whitfield interviews Tracey Davies of Just Share.

Share this:
Read More arrow_forward

Aisha Pandor SweepSouth Alen Ribic

Job won’t make you rich. You must earn in your sleep - Aisha Pandor, SweepSouth

6 July 2020 8:39 PM

Bruce Whitfield talks to SweepSouth cofounder Aisha Pandor about her attitude to money (hopes and fears, successes and failures).

Share this:
Read More arrow_forward

Frog in a pot

Are we boiling frogs? And why do SUV drivers look so confused, asks Tom Eaton

6 July 2020 8:18 PM

The Money Show’s Bruce Whitfield interviews columnist Tom Eaton about his new book, "Is it me, or is it getting hot in here?"

Share this:
Read More arrow_forward

200406-lockdowngif

101 days of lockdown: What we gained (and lost), and what we have learned

6 July 2020 8:07 PM

The Money Show’s Bruce Whitfield interviews Kevin Lings, Chief Economist at Stanlib Asset Management.

Share this:
Read More arrow_forward

More from Politics

zweli-mkhizejpg

We urge survivors of COVID-19 infection to tell their stories - Zweli Mkhize

14 July 2020 9:30 AM

Health Minister Zweli Mkhize says the focus is on the establishment of committees at ward level and to also tackle the stigma.

Share this:
Read More arrow_forward

Red wine white woman female funny reaction 123rf 123rflifestyle

'Few restaurants will now survive without selling alcohol. We were blindsided'

13 July 2020 6:33 PM

Bruce Whitfield interviews reps from the Restaurant Association Of SA, Business Unity SA and the National Liquor Traders Council.

Share this:
Read More arrow_forward

liquor-store-sales-wine-champagne-mmc-brut-bubbly-alcohol-booze-drinking-123rf

Liquor traders association aggrieved by sudden ban on sale of alcohol

13 July 2020 11:16 AM

Liquor Traders Association of SA's Sean Robinson and Gauteng Liquor Forum's Fanny Mokoena reflect on liquor ban.

Share this:
Read More arrow_forward

cooler-box-beer-booze-alcohol-liquor-transportation-car- drunk-driving-123rf

'Regulations need to focus on spaces where risk of transmission is high'

13 July 2020 9:00 AM

Wits School of Governance's professor Alex van den Heever unpacks the latest restriction by the President Cyril Ramaphosa.

Share this:
Read More arrow_forward

ramaphosa3jpg

Ramaphosa reinstates ban on alcohol, COVID-19 death toll surpasses 4,000

12 July 2020 10:30 PM

President Cyril Ramaphosa said on Sunday he was concerned that South Africans were downplaying the seriousness of the pandemic.

Share this:
Read More arrow_forward

Cyril Ramaphosa

(WATCH LIVE] President Cyril Ramaphosa addresses the nation at 8pm

12 July 2020 7:53 PM

Ramaphosa addresses the nation this evening on developments in SA's risk-adjusted strategy to manage the spread of COVID-19.

Share this:
Read More arrow_forward

scootersjpg

'EC scooters were procured to allow transportation of meds by health workers'

10 July 2020 12:07 PM

Provincial health department head Dr Thobile Mbengashe is adamant that these scooters were never meant to be ambulances.

Share this:
Read More arrow_forward

scootersjpg

EC tender was for 100 clinics, not ambulances - Fabkomp director

10 July 2020 7:34 AM

The company that got the R10 million tender's Brian Harmse sheds light on the controversial project.

Share this:
Read More arrow_forward

190124 Phil Masinga4

For anyone to write me off politically at this moment is ill-advised - Gigaba

9 July 2020 11:50 AM

Clement Manyathela chats with former minister Malusi Gigaba in a new feature called #HangingOutwithClement.

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

'It is critical that South Africa brings its public debt under control'

9 July 2020 8:07 AM

RMB CEO James Formby says if the country doesnt control its debt, it will find itself in an economic quagmire.

Share this:
Read More arrow_forward