PwC forecasts further decline for traditional TV and Is Cosatu still relevant to workers?

SPEAKER_1 (0:01)

And now, The Money Show with Stephen Grootes on 702

SPEAKER_2 (0:06)

Let's walk the talk.

Stephen Grootes (0:07)

The Money Show with Stephen Grootes is brought to you by AbsaCIB, proud sponsor of the Absa Africa Financial Markets Index 2026 Just watching the Cosatu conference play out, and Mike Shingange now being elected leader, and of course, there were the issues earlier before. So, you know, different problems that Cosatu has been facing of late, and it's very interesting to see how that's all panned out.

Also, of course, we must also just ask a different question, which is how relevant is Cosatu to workers now? And the debates that we're having, that people were having there, the ANC or the SACP, doesn't matter. Let me put the question to you like this. If you're in trouble at work, if you need help at work, you need advice, you need something to do with your contract, maybe you have a boss you just can't work with, who do you go to? Do you go to your friend? Do you go to your union? Do you go to a shop steward? Do you have one?

SPEAKER_4 (1:01)

Do you know who they are?

Stephen Grootes (1:02)

Would you know where to begin? But do you go to a union? Do you maybe do what I think a lot of people do? They ask an elder relative, maybe a sister or a brother or a father, perhaps whoever. Do you start there for help at work? Who do you go to?

Is it your union? Is it your union rep? Is it someone else? We'll be really keen to hear your answer to that. If you're in trouble at work, who do you go to? Well, just get an understanding of the sort of latest on this and the relevance of unions with Dr. Ongama Mtimka in a moment. Finally, Ferrera runs the Milk Producers Organization. They've got huge issues. Lactolis SA, they're owned and owned. They're going to cut the amount of money they're paying per litre of milk. Really bad news for farmers there. And just a reminder, I didn't grow up on a farm, but I'm always told that cows, if they're milk producing, need to be milked. It's very unhealthy for them not to be milked. You can't just leave it there. You actually have to do something.

We will talk also about how media is going to change over the next few years. Radio is still holding up. I'm pleased to tell you. Podcasts, I know. I'm sure you do listen to them from time to time. The Money Show, of course, is a podcast for you daily. Charles Stuart, the Africa Entertainment and Media leader at PwC. They've got a really strong report out. Then we'll hear from the CEO at Ioco. Strong results from them. Reece Summerton is their CEO. You'll hear from him just before 7 o'clock. Good to hear from you tonight.

11 830 702 21 4460 567 Who do you go to when you need help at work? 727 21 702

SPEAKER_5 (2:31)

The Money Show with Stephen Grootes. Live on 9 2.7 and 106 FM. Streaming on the Prime Media Plus app and DSTV Channel 856

Stephen Grootes (2:42)

Well, Cosatu electing new leadership today. Mike Shinganga narrowly beating Claire Lamu Bortol to the position of president. The former president of Cosatu, Zengiswa Lawsey, narrowly winning the vote for the position of general secretary. Dr. Ongama Mtimka is the acting director of the Raymond Mhlaba Centre for Governance and Leadership at Nelson Mandela University. Ongama, good evening. At the heart of the sort of what we can see as the tension in Cosatu is whether they should back the ANC or the SACP. If you look at the position of workers now in South Africa in 2026, how relevant is that kind of debate to them?

Ongama Mtimka (3:23)

Good afternoon. Good evening to you and your listeners, Stephen. This is something that has been such a decades long discussion among trade unions about, first of all, whether to repeat political unionism. And these debates were big during the time that Fosatu was being formed, I think, in 1982

And the workers resolved to say that at the time, the workers were also residents and therefore needed to embrace political unionism. We know that that's paid off, Stephen, for them. They've won many big gains during the democratic period. Unfortunately, though, and I think that attesting to the wisdom of those that were concerned about the link between Workers' Federation and hardcore politics, if you trace all the splits that have taken place in the, in Cosatu, you can see a pattern that divisions over which political leader to support in the case of NOMSA and others that split have been the key, you know, determinant of whether these unions are retained or not. And likewise, even today, in fact, this year, the tensions have centered around this idea of which choice to make between the SACP and the ANC. So, it does show that while political unionism did pay off, it also had its cost, you know, to the soul of the labour unions.