Rational Perspective

You wonder how some people find the time to achieve as much in a day as the rest of us need a week for. Discovery Group co-founder and CEO Adrian Gore is one of these supercharged human beings. Apart from building a multinational group that, with its global partners is targeting to improve 100 million lives in five years, he still finds time to invest heavily in his homeland. Gore is the driving force behind the creation of a R1.5bn fund to help kickstart South African SMEs - and regularly interacts at a high level in Team SA. He is always a thoughtful interviewee. And even in sleep-deprived Davos, the conversation is always riveting, As you'll hear from the chat we had this morning. See omnystudio.com/listener for privacy information.

The primary advantage of regular returns to the World Economic Forum's annual meeting in Davos is the way one gets to witness broad global trends imposing themselves - or fading away. In recent years, the science of ageing has been moving ever higher on the agenda, aligned perhaps with the demographic shift in the rich countries which dominate the global economy. Constantinos Demetriades (36) is one of the field's star researchers, leading the prestigious Max Planck Institute for the Biology of Ageing. So if you want a long and healthy life, listen to this fascinating interview - one of those "only in Davos" experiences. See omnystudio.com/listener for privacy information.

South Africa’s president Cyril Ramaphosa announced in Davos yesterday that the country would hold a second Investment Conference this year, to progress the plan to raise $100bn in new fixed investment in five years. While the first day was dedicated to global environmental threats, on Wednesday challenges posed by the mushrooming of artificial intelligence took over at the top of the Davos Agenda. In a brief statement at Davos, Brazil, Peru and Colombia have recognised the Venezuelan opposition leader, Juan Guaidó, as interim president, following an earlier declaration from US President Donald Trump. And ending on a South African note, president Cyril Ramaphosa delivered another inspiring and unscripted speech to the annual Brand South Africa dinner in Davos last night, re-iterating the need for the country to build on its unique ability to put all the key parties around the table. (Pic: Greg Beadle) See omnystudio.com/listener for privacy information.

The annual Brand South Africa dinner in Davos was so heavily oversubscribed this year that I only got a seat because of some late cancellations. A huge difference to recent years where there were always plenty of no-shows – such was the decline in the nation’s appeal while Jacob Zuma ruled the roost. Last year in Davos Cyril Ramaphosa led the delegation, even though still the deputy president.  His impromptu speech, which I recorded on my iPhone, went viral with tens of thousands of South Africans encourage by his message. He took the mike again tonight, and once more delivered an uplifting message without referring to a single note – or that politician’s crutch, the autocue. And once again he delivered as inspiring a message as you’re likely to hear in the Alpine resort. It was also under half the length of last year’s. Once again my trusty iPhone did the recording so apologies for the less than broadcast quality. And to give you a better feel of the mood, the recording starts as SA’s president takes the

JOHANNESBURG — Olivier Gremillion - who is in Davos this week for the World Economic Forum - spent 7 years at Airbnb before joining global travel bookings website Booking.com. Now, he's heading up Booking.com's non-hotel business, providing a competitive alternative to that of Airbnb. Olivier has a good knowledge of the African travel market, including that of South Africa. And in this interview, he explains why he's more upbeat than in previous years about the African travel market. - Gareth van Zyl See omnystudio.com/listener for privacy information.

In today's global headlines.. Sustainability was high on the agenda in Davos yesterday, with Britain’s Prince William’s professional interview with film-maker David Attenborough stealing the show. The focus on ESG – Environment, Social and Governance – was also a theme of the first foreign address by Brazil’s new president Jair Bolsonaro.  US secretary of state Mike Pompeo, who like other Trump cabinet members pulled out last week, was a late addition to the programme. He joined by video conference, In South African related news, in Davos yesterday Investec joint CEO Hendrik du Toit added his voice to the strong sustainability theme. See omnystudio.com/listener for privacy information.

It’s been my privilege to have known the subject of today’s episode for many years, almost since the day arrived 27 years ago at a then small banking company with an idea of starting an asset management business. Deciding to back this one man and a briefcase was one of the smartest moves Investec’s Stephen Koseff made. Under Du Toit’s direction, Investec Asset Management is now a multinational company that trades punches on equal terms with the best in the world, with $150bn in assets under management. So this mad keen marathon runner, is an entrepreneurial star in his own right. Du Toit will soon be getting the opportunity to stretch these muscles when Investec splits into two units, with the asset management listed as a separately investable entity. But that’s a story for another day…… The focus of this episode is all about change. And specifically the mushrooming field of Environmental, Social and Governance (ESG) reporting which has become a core element of every ambitious business. So important, that

Getting into the swing of things here in Davos and here's an awesome interview with Dame Linda Partridge who tackles one of the hottest subjects of our time - ageing. We know that the process is far more maleable than previously imagined, but the multi award winning Dame Partridge's work takes the subject to a new level. If you've wanted to how how to live a long and healthy old age, and how to improve your chances of not being hit by the twin medical monsters of Alzheimer's and Parkinson's, you'll find what this gifted scientist has to say absolutely riveting. I did. See omnystudio.com/listener for privacy information.

There's always a lot of meat in PWC's annual CEO survey which is released in Davos on the eve of the start of the annual meeting. The 22nd edition, released on Monday night, was no different. Of the two key issues to emerge, one you might well have expected, but not the other. The super confidence that CEOs globally exhibited last year has been tempered by the trade war and political tensions. So whereas last year's survey was super bullish, this one almost depressive with six times more CEOs expecting a drop in economic growth. But the bright spot comes from an unlikely source. Kevin Ellis, PWC's head of Europe, Middle East and Africa, says the survey shows British CEOs are backing themselves to flourish after Brexit. A contrarian view, but as Ellis unpacks the issues, it's one that makes lots of sense. See omnystudio.com/listener for privacy information.

Romaney Pinnock is in Davos this year looking for R10m to fulfil a dream. In her mid-30s, her love affair with football furned into an unusual project called Badgers Academy where 80 women now get together regularly to play a sport which is transforming lives of vulnerable women living in high risk areas of the Cape. Romaney says she has been inspired by the way playing football has helped women overcome major issues - and believes her Philippi project provides a template that can be used to transform lives everywhere. Here's what she is going to be pitching to Davos's rich and powerful. See omnystudio.com/listener for privacy information.

Zimbabwean president Emmerson Mnangagwa joined an already long list of Davos no shows that have taken a lot of shine off the 2019 annual meeting which kicks off tonight. The Ellermans Trust Barometer, which will be officially released in Davos tomorrow, shows a continued worsening of trust in governance institutions - and a growing gap between the way the elites and the general public view the world. The official result of the DRC's presidential election, which is alleged to have been engineered by incumbent tyrant Joseph Kabila, received the sanction of the country's Constitutional Court - and the tacit approval of the African Union which has cancelled sending a delegation to Kinshasa today. See omnystudio.com/listener for privacy information.

For the past eight years, head of Africa for the World Economic Forum, Tanzanian Elsie Kanza has ensured the often forgotten continent enjoys the attention its billion people deserve. As she geared up for her busiest week of the year, I tapped her for some thoughts on the Africa agenda of Davos 2019. Appropriately, we kicked off with the WEF’s annual Global Risks report, released this week, which highlights how climate change has taken a firm grip – with these rising temperatures have been playing havoc with Africa’s opportunities to leapfrog. See omnystudio.com/listener for privacy information.

IN TODAY’S GLOBAL HEADLINES… The African Union today broke with an appeasing stance by Cyril Ramaphosa-led SADC, to strongly condemn the official results of the DRC presidential election. Hopes are growing that the trade war between the America and China, which threatens global economic growth, will be resolved during high level meetings in Washington next month. Netflix, whose share price was up over 50% in the past month, gave back a few dollars of those gains after quarterly results last night. In South African-related news, JSE-listed property owner Intu is facing more challenges as one of its major tenants, the 165-store retailer Debenhams, today stated that it needs to close a third of these outlets.  See omnystudio.com/listener for privacy information.

JOHANNESBURG — Just before his pre-Davos press briefing this week, President Cyril Ramaphosa meet with an Eskom task team to try deal with the headache that is our country's state-owned power utility. Eskom has been terribly run for years and after it asked for another massive price hike from regulator Nersa, it's set to continue to entrench itself as the most disliked company South Africa has probably ever had. Eskom is also an outdated machine, relying heavily on dirty coal to provide what electricity is left in the country. But strong alternatives are emerging in the solar space and if regulations were relaxed a lot more, especially amid ever-improving battery technology, the ability of solar to provide SA's energy needs could become more significant in years to come, according to Manie de Waal, the CEO of Energy Partners Solar. Here is what he has to say. - Gareth van Zyl See omnystudio.com/listener for privacy information.

IN TODAY’S GLOBAL HEADLINES… Jack Bogle, the father of index investing and a crusader for private investor’s rights, has died. He was 89. Theresa May’s Conservative Party government narrowly survived a vote of no confidence last night, thanks to the support of the ten members of its Northern Irish ally, the DUP.  On Wall Street, stronger than expected December quarter results from US banks saw a rebound in their share prices last night, led by Goldman Sachs. In South African-related news, president Cyril Ramaphosa today joins the 15 other SADC leaders at a crisis meeting in Addis Ababa to decide their response on the DRC presidential election. See omnystudio.com/listener for privacy information.

Peter McCormack is proof that there's a novel waiting to be written in every life. An advertising entrepreneur who fell into Bitcoin because of his terminally ill mother, he bought early, enjoyed a 40-fold return on investment, but stayed too long at the fairground. He shares this cautionary tale that could describe every investment bubble, and sharing what happens to our thinking when we get caught up in one. His wild ride provides a fascinating insight into human behaviour, and leaves a reminder that the biggest challenge for every investor is suppressing emotion. Always far easier said than done. See omnystudio.com/listener for privacy information.

JOHANNESBURG — President Cyril Ramaphosa at a pre-WEF briefing in Johannesburg on Wednesday morning spent a good 15 minutes addressing some sharp issues relating to the controversy surrounding expropriation of land without compensation, the independence of the Reserve Bank and what appears to be the unresolved child-visa disaster (which is reportedly still a major hindrance for travellers to South Africa, despite assurances from Ramaphosa that this wouldn't be the case any longer). In many ways, Ramaphosa, once again, tried to ease markets by saying that land EWC will just involve clarification of what already exists in the Consitution. The problem here is that the process is largely in the hands now of ANC and EFF MPs, who have shown themselves to be unpredictable. Ramaphosa also promised that the independent mandate of the Reserve Bank won't change despite calls of nationalisation from the ANC. And then he addressed those pesky child visas. Take a listen... - Gareth van Zyl See omnystudio.com/listener for

JOHANNESBURG — President Cyril Ramaphosa addressed the now-annual pre-WEF briefing that happens each year before our politicians fly over to Davos. This year's pre-WEF meet was a very different one to the one I attended last year. For starters, the venue was different. Last year, it was held in one of the big ballrooms in the Hilton Hotel in downtown Sandton - this time it was held in a much smaller venue in the Crowne Plaza Hotel in Rosebank. I was told that Ramaphosa prefers the Crowne Plaza as it's closer to his home in Hyde Park (I don't know how true this is as I imagine he's equidistance between both hotels). Nevertheless, another major difference was that this time last year we still had Malusi Gigababa as FinMin. These days, we have Tito Mboweni who slipped in late to the pre-WEF briefing in Rosebank on Wednesday and quietly sat in the back, unassuming. But lastly, the major difference that I observed was that Ramaphosa this year looked much more tired - last year he had a skip in his step amid Ramaph

IN TODAY’S GLOBAL HEADLINES… Reports from inside the UK cabinet say British Prime Minister Theresa May was persuaded to withdraw an offer to resign after yesterday’s crushing defeat of her Brexit plan. Once fierce rivals Volkswagen and Ford, the world’s second and fifth biggest motor manufacturers, are joining forces to build pickups and small vans, and are in advanced stages of a similar alliance on electric and driverless cars. In one of the most telling examples of a kickback against excessive executive remuneration, Spain’s Bank Santander has dropped plans to appoint Andrea Orcel as its new CEO because he costs too much. In South African-related news, pressure is growing on the Ramaphosa Administration to follow a call from Angola and Uganda for an independent recount of votes in DRC’s presidential election. See omnystudio.com/listener for privacy information.

IN TODAY’S GLOBAL HEADLINES… British Prime Minister Theresa May’s impassioned plea ahead of a key Parliamentary vote this evening appears to have fallen on deaf ears. US president Donald Trump is sure to draw additional support for his trade war on China after last night’s news that the 10% tariffs, US imports from China rose 11% last year while exports were up less than 1%. Colorado headquartered Newmont Mining yesterday announced a $10bn all stock deal to acquire Canadian group Goldcorp topping the $6bn Barrick/Randgold merger. In South African-related news, JSE-listed Brait yesterday secured a way ahead for its disastrous £780m purchase of UK fashion retailed New Look but at a high cost. See omnystudio.com/listener for privacy information.