Youth's financial stability is at risk due to the increase in gaming. South Africa's tax crackdown on Shein and Temu

The Money Show

• Young people are gambling more and more these days, frequently lured by the excitement of taking risks and the possibility of rapid financial gain. The Financial Section Conduct Authority (FSCA) is cautioning young people about the risks of gambling during Youth Month. Gambling may become an addiction and cause financial losses that can have a devastating impact on families. Claire Heckrath talks with host Motheo Khoaripe to provide us with an understanding of the research that was done.
• The goal of potential adjustments to import taxes is to level the playing field for both domestic and foreign competitors in South Africa's textile and clothing sector, not to harm consumers. Next month, Temu and Shein will impose additional taxes on small-volume, low-value garment orders.
• Last week, Dan Marokane, the new leader of Eskom, visited the Medupi power station outside of Lephalale on a "healing" mission. It was his first visit to Medupi since he was suspended by Eskom in 2015. Marokane was one of four top managers suspended, including the head of group capital at the time who oversaw Eskom's development projects. With host Motheo Khoaripe, Mthunzi Luthuli, Managing Director of Luthuli Corporation, talks about the first 100 days of Dan Marokana's administration and the 81 days without load shedding.
• SA Inc. shares, which are stocks of businesses that generate the majority of their revenue in South Africa, surged in value on Friday following the signing of a framework agreement by the ANC, DA, and IFP to establish a government of national unity (GNU). The idea of a government coalition including pro-nationalization parties like the EFF and MK has alarmed international businesses. According to Bloomberg, the South African bank stock index hit a record high earlier on Friday, rising about 6% at one point, marking the largest increase since November 2020. John Biccard, the Ninety One Value Fund's portfolio manager, discusses with host Motheo Khoaripe.

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