I spoke with Ian Lourens, CEO of OneLogix, about their latest results. The shares will be delisted from the JSE in early 2023, but we always get good information on the local economy as they operate in freight and logistics in agriculture, FMCC and car delivery. Overall, he painted an improving picture of our economy, and that’s good news.
The US dollar index is trading at a 20-year high, and I asked Matete Tulare of the yuan what’s driving the dollar’s strength. He responded that the European energy crisis, the risk of a global recession, rising inflation and interest rates are all factors, and thus the strengthening of the dollar is likely to remain in place for some time.
Back in early 2020, a number of local banks closed their crypto exchange accounts, causing concern and confusion among customers. The South African Reserve Bank has now said that banks can indeed work with crypto exchanges, and I spoke to Luno CEO Marius Reitz about the increased regulation he is advocating. We also touched on Ethereum’s change from proof of work to proof of stake and the implications for this cryptocurrency.
I spoke to Old Mutual Investment Group chief investment officer Hyvel George about the possibility of a repeat of the 70s with high inflation and the energy crisis and, importantly, where are we investing now? We also touched on China moving forward in technology and space exploration and discussed how to invest to profit from this dominance.
Also this week: South African consumers now spend more with less, NielsenIQ State of the Retail Nation report shows South Africans are spending more on alcohol but making fewer trips to stores, buying more than one trip: John-John Emory, NielsenIQ.