China is in the news this year for all the wrong reasons, as it has been cracking down on private businesses. But luxury sales in China offer an opportunity and I spoke with Peter Little of Anchor about this. In the short term there may be some headwinds, but a growing middle class should see strong growth in this sector, as China already accounts for nearly 40% of global luxury sales. Read the transcript here.
The South African Reserve Bank kept rates unchanged last week and I spoke with Dr Adrian Saville, investment specialist at Genera Capital, about when we could see rates starting to rise. I also asked him about the governor’s speech last month in which he said it was time to reduce the inflation target down to 2% to 4%. Read the transcript here.
Caxton released strong annual results with an almost R2 billion cash holding and no debt. I spoke with MD Tim Holden about its traditional community newspaper business and the future of the company. Packaging, especially for the quick-service restaurant sector, is a key focus and now makes up almost half of the business, while it’s also interested in increasing its 31% in Mpact to a controlling stake. Read the transcript here.
PSG Wealth Old Oak’s Schalk Louw has become my go-to expert on holding companies and especially on the discount to net asset value that they trade at. I spoke with him about RMI’s unbundling of Discovery* and Momentum Metropolitan, leaving it with mostly just the OUTsurance business. We also touched on Telkom, as it plans to list its towers business Swiftnet separately.
Also this week:
FNB’s Chantal Marx unpacks Capitec and Bidcorp’s results. Revix’s Sean Sanders and Wiehann Olivier of Mazars South Africa discuss proof of reserves for crypto platforms.
Writer holds shares in Discovery