Santam set to leave the JSE in Sanlam buyout & Durban port delays and the future of the RAF levy

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And now, The Money Show with Stephen Grootes on 702

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Let's walk the talk.

Stephen Grootes (0:07)

The Money Show with Stephen Grootes is brought to you by Absa Corporates, an investment bank in connecting global finance to the future. That's how Absa is invested in your story. Good evening, 8 minutes after 6 Welcome to the programme. I must say, I've been amazed at the traffic carnage we've seen in Sandton, in Joburg, because of that box cart racer. I'm still amazed that someone spent a lot of money sponsoring the thing, hoping to get good PR out of it. You just think to yourself, well, when the trouble is still there on Monday, and everyone's still battling Monday evening to get home, I don't know if you've maybe undone some of that. Just a thought, you might have a view on it in 072, 702, 1702, particularly on a day when fuel prices are going up by 3 Rand per litre. We see, of course, obviously slightly all around that, depending on fuel, which octane, and of course diesel. But 3 Rand per litre, taking it to record levels. I do wonder if it's changed the way in which you look at a car.

I've been one of those people who's looked at all of the brochures and gone online and looked at electric cars and thought, hmm, is this the time? I've been talking to a couple of people. Some people say to me they love them because they're new and shiny and everything's exciting, it's got every single new sort of whiz-bang feature you can think of, and that makes sense to me. Other people saying, look, we love the range. Other people saying, I'm not happy with the range. Speaking to one or two people, actually, who were a bit surprised at the range, thought it was a bit limited compared to what they had expected, but I'm no expert. I've driven an electric car for all of 30 seconds, just as a test drive to see what it was like. Is this the moment? I mean, are you looking at the car which you drive differently? Maybe putting the sort of big diesel guzzler in the garage and waiting till Christmas or something, and going to use a smaller car if you have one or whatever, making changing the way you drive around. I think maybe people are. If you're doing that, please. 072702-1702. The big story today really is about Sanlam and Santam. So Santam will leave the JSE. Andrew Bahlmann is the CEO of Deal Leaders International. We'll hear his views on that in just a moment. Really important story. And of course, that does mean that Santam will no longer be on the JSE. They've been there for a very long time. Lots of concerns around what's happening in the ports in Durban. This is Pier 2, also known as the Durban Gateway Terminal. We'll speak to the Transport Minister about that. I mean, it was all supposed to get better, right? Looks like it's going the other way.

The issues of the private sector and procurement. Interesting suggestions coming from Bustasir Mavuso, the CEO of Business Leadership South Africa. She'll explain her idea to you herself in about half an hour. And Chira Desina is a motoring journalist at cars.co.za about what we're buying nowadays, fuel efficiency, suddenly moving up the scale in terms of factors that determine what we are actually buying. Your thoughts, please, on that, on 072, 702, 1702 Also, you can call us on 011-883-0702 and 021-446-0567.

If you're stuck on the traffic in Zantan, keen to hear on that as well. Ten minutes after six. Good evening.

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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 (3:13)

Well, shares in the insurance company Santam jumping by nearly 20 percent today after Sanlam said it would buy the shares in that company it doesn't already own. Sanlam will spend around 16 billion rand buying the 38 percent of Santam it doesn't currently own. Santam will then be delisted. Andrew warns the CEO at Deal Makers International. Andrew, good evening. I mean, I suppose if you're a Sanlam, scale is a big factor here. Is this a good deal? 16 billion rand? I mean, for most of us, that's quite a fair chunk of change.

Andrew Bahlmann (3:47)

Hi, Stephen. It is. It's a proper number.

But I think, yeah, I'll let the strategic rationale justify that. I guess the market will decide whether the premium they're offering is worth it. But it makes sense. You know, I think it's always sad to see, you know, an institutional name like Santam delist. But I think at this stage where Sanlam is as a group and what they want to do moving forward, it makes sense to buy out the minorities and, you know, move into this next chapter, I guess, of growth and simplification, I think. You know, I think with all the onerous requirements for having two listed entities and the likes, it's the next logical step.