SA to end incentives for semi knocked-down vehicle assembly & South Africa's growing golf industry

SPEAKER_1 (0:01)

And now, The Money Show with Stephen Grootes on 702 Let's walk the talk.

Stephen Grootes (0:07)

The Money Show with Stephen Grootes is brought to you by Absa CIB, proud sponsor of the Absa Africa Financial Markets Index 2026 28 minutes now after 6 o'clock. Good evening. Welcome to the programme. I'm Stephen Grootes. One of those weeks where we've seen quite a few developments in the greater economy, not a huge amount of corporate news, but certainly quite a few developments in the greater economy. I saw news today, the Reserve Bank saying from sort of early next year, it wants to, the phrase is white label ATMs. And what that means is every ATM would look the same. It wouldn't matter if you're going to Capitec or Invest, well, Capitec or FNB or Absa or NED Bank or Standard. Basically, they would all look the same. The idea is you'd get the same service from them all. The amount that you pay crucially would be the same. Do you, I mean, do you still move around looking for the sort of cheapest ATM for your ATM? I have done that once or twice. I don't draw nearly as much cash as I used to. And in fact, when I do, what I tend to do is use my phone and you sort of do that cardless withdrawal.

And that kind of keeps me going for a little while in terms of my cash needs. But do you move around? I mean, I still see on a Saturday morning in a shopping center, occasionally, you can see that one ATM has got a longer queue than others.

And if this does away with that, that would surely be a good thing. I do worry slightly about the incentive to have more ATMs in more places, which might be reduced because there's no competition, if you see what I mean. So if you sort of, you know, harnessing the private sector, the competitive streak can be a very good thing, a very powerful thing. You could maybe lose that. Your thoughts, please. 072702, 1702 Are you fine with it now? They're branded, it costs you a little bit more if you go to one that's not a bank. Are you in favor of the white labelling process, as they call it? There's actually quite a lot to look at in that score. Confirmation from the Minister, this is the Trade Industry and Competition Minister. There we go, Stephen. ParksTown, changing slightly some of the regulations around mergers. I'm very intrigued as to the timing. Why now? That's what I don't get. We'll speak to my Panga Massek, or specialist in this area in a moment. Also from the Minister, talking about ending incentives for semi-knockdown vehicle assembly. This is when you bring in a car in kit form, you assemble it here, you still get some of the sort of support from government to do that. Siyabonga Mthembu's got a lot to say about that at BDO South Africa. And then the Golf Industry, Investex put a big report out, almost 50 billion rand a year, they reckon. The size of the Golfing Industry, Nqobile Ndlovu, the founder of CashNSport Research & Advisory, looking forward to hearing from him in about half an hour from now. Don't forget, the Friday Biz Blitz as well, questions about some of the things we've been talking about this week.

01138307020214460567 and voicemails tonight on 072702-1702.

What's the furthest you've ever gone to find the right ATM for you? Enjoy that story, please.

SPEAKER_1 (3:17)

The Money Show with Stephen Grootes, live on 92.7 and 106 FM, streaming on the Prime Media Plus app and DSTV channel 856

Stephen Grootes (3:29)

Confirmation now that government is adding a regulation that says the Competition Commission must give a company a chance to comply with stipulated conditions before forcing that company to undo a merger.

Now, you remember the Competition Commission recommending to the Competition Tribunal that it unwind the merger between the Premier Group and the Rhodes Food Group because of the way it wants to retrench workers. As I understand it, this change would not affect that merger. Mapanga Maseko is a specialist in competition, regulatory compliance practice at MVR Attorneys. Mapanga, good evening and thanks for your time. How significant is this new regulation? What does it mean for the Competition Commission?

Mapanga Maseko (4:13)

I think it's significant for...

When parties obviously obtain approval of a measure subject to conditions, there's a process within which they must comply with those measure conditions. The significance is, at least now, those parties will be given an opportunity to be heard. First, when the Commission first starts with the investigation, they can be heard on the issue and provide documents. So, it would, or things like that, of course, avoid a long-term process. So, it gives companies at least a benefit of a doubt to be able to put up a case defending themselves for non-compliance or putting up defences as to why maybe compliance has been difficult and then put a remedy plan in place to address those concerns.