News24 | Poverty tax, Momentum’s billions and SA’s Formula One gamble

The Momentum Group’s executive committee.

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In this episode, Momentum CEO Jeanette Marais unpacks a standout year, with normalised headline earnings hitting R7 billion ahead of schedule, five business segments crossing R1 billion for the first time, and India emerging as the group’s most exciting long-term growth story after the health insurance joint venture with Aditya Birla Capital turned profitable for the first time in a decade.

Eben de Jongh, founder of Skubu, joins Bruce to explain why it is expensive to be poor, and how his refill-based retail concept in Diepsloot is cutting prices by up to 60% through eliminating packaging and buying directly upstream. Four stores in, with a more compact format called Skubu Nyana in development, the model is gaining serious momentum.

News24 Business editor Helena Wasserman reflects on Pick 'n Pay tapping a former Woolworths executive as its next CEO, Remgro sitting on R22 billion in cash and feeling unusually bullish about South Africa, and Neal Froneman’s serious plans for a Formula One circuit near Malmesbury in the Western Cape.

And David Shapiro of Otto 1890 on why AI is now the defensive play in global markets, Nvidia trading at a lower multiple than the S&P 500 despite a R5.5 trillion market cap, and the one thing that keeps him up at night about the sustainability of this market.

This podcast is sponsored by Capitec.

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