Reserve Bank governor talks inflation, Iran and El Niño. And Shoprite brews a Vida deal

In this episode, Reserve Bank Governor Lesetja Kganyago joins Bruce to unpack what he calls a “polycrisis of overlapping shocks”, from the war in Iran to Ukraine’s attack on Russian wheat infrastructure and the looming El Niño threat to South African food prices. His message: South Africa’s starting point this time is fundamentally stronger than in 2022, and that breathing room is why the Reserve Bank can still take measured rather than aggressive steps on rates. Shoprite CEO Pieter Engelbrecht speaks about the acquisition of Vida e Caffè, which adds more than 400 coffee stores to a group already operating in pet, liquor, pharmacy, and fashion adjacencies. Sixty60 added R6.6 billion this year and set a new record just yesterday, and Shoprite and Checkers now sit as the top two retailers in South Africa by sales.News24 Business editor Helena Wasserman analyses Woolworths’ food-first CEO, making clear the retailer’s clothing era is over, TFG’s Australian business dragging results down under, Eskom sitting on R125 billion cash after a R30 billion profit, and Sasol’s share price tripling to nearly R200 on the back of surging refining margins. And Peter Armitage of Anchor Capital examines rising bond yields reshaping asset values globally, why AI has increased his costs without yet cutting them, and why the real AI boom right now is actually a construction boom in disguise. This podcast is sponsored by Capitec.To catch every episode, click the follow and subscribe buttons on News24’s Spotify, Apple, and YouTube podcast channels, or catch up on past episodes here. Editions drop on Thursdays at 17:00.