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Simon’s weekly wrap: Protecting the rand, strong results and another crypto hurdle

This week MoneywebNOW looked at lessons from the lira’s collapse, excellent results from Omnia and Invicta, Treasury’s pension fund crypto ban proposal, TWK Agri’s results, and more.

The Turkish lira has had a tough week, collapsing over 20% on Tuesday. I spoke with RMB’s Matete Thulare about what is causing the collapse and how we in South Africa can avoid such a fate. His key point was that central bank independence is critical – something which we have a proud tradition of, and that we need to ensure we maintain.

Results are pouring in.

From its interim results released this week, it’s clear that Omnia has continued its excellent run, with its two key sectors – agriculture and mining – booming. I spoke with CEO Seelan Gobalsamy about how it managed to increase margins even while input costs squeeze.

Invicta was another company out with strong interim results and Steven Joffe is confident the company can continue the recent form. I asked him why it skipped the dividend and he made an interesting point, indicating it’ll pay over 500c in the next three years, offering a great forward yield here.

Many investors and retirement fund managers were hoping National Treasury would allow crypto assets in retirement funds. But its latest proposal is an outright ban. I spoke to David Geral of Bowmans to understand why and, perhaps more importantly, whether this door is completely shut.

Also this week:

CEO Eddie Fivaz discussed TWK Agri’s struggling filling station division but also, how its mechanisation, fertiliser and new renewable energy segments are doing well and offering opportunities.

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