BizNews Radio

Egoli Youth Empowerment started with squash courts in Soweto and grew into a holistic youth development programme spanning sport, academic support, life skills, leadership, entrepreneurship and urban farming. Director Glenn Lazarus and Programme Director Sharon Sibanda tell BizNews how EYE is creating safe spaces, developing young talent, and helping vulnerable youth in Soweto and Johannesburg’s inner city build confidence, resilience and opportunity.

In this interview with Irakli of BizNews, Currency co-founder Giulietta Talevi unpacks the April 23 letter from Finance Minister Enoch Godongwana to Joburg Mayor Dada Morero, which laid bare the city's "shocking" financial picture: just R3.9bn in cash against R25bn owed to creditors. "Technically, you would say that it's bankrupt now, and cannot afford an excessively expensive wage deal," Talevi says of the R10.3bn SAMWU agreement at the heart of the dispute. She explains why Moody's downgrade watch is really about governance — not just numbers — pointing out that the city's failure to produce its audited financial statements "indicates serious deterioration in governance, and not just Joburg's financial health." Two deadlines loom: audited financials owed to the JSE by May 31, and a R1.4bn bond repayment due June 22. Talevi explains that because the debt is unsecured, all creditors "are treated equally" — meaning a single default event could trigger every lender to call in their loans simultaneously. She also raises the spectre of moral hazard, citing Chartis Asset Management's Ian Scott on what he calls a "treasury-funded put" — the idea that bailing out Joburg signals to leadership that they "can mess up, you can collapse the financial situation of the country's biggest Metro… and we'll bail you out because you're too big to fail." When Irakli draws a parallel to the e-toll saga, Talevi agrees taxpayers are "on the hook again" — paying their taxes only to face additional costs for the basic services those taxes were meant to fund.

In today's BizNews Daybreak, President Trump discusses China’s role in Iran negotiations and a major Boeing deal, while Secretary of State Marco Rubio addresses Taiwan tensions.

The S&P 500 hits record highs fueled by Cerebras Systems’ massive IPO and Nvidia’s growth, contrasting with a strained partnership between Apple and OpenAI.

Locally, Wayne Sussman examines the complexity of South Africa’s upcoming municipal elections and Gary Power urges the need for personal accountability to combat institutional corruption.

In the latest edition of the Electoral Road Show with Chris Steyn, Elections Analyst Wayne Sussman dissects this week’s by-election results: The Patriotic Alliance (PA) makes history by winning its first ever ward in the Upington area. It took the ward off the Democratic Alliance, and grew its support from a paltry 1% to an “astonishing” 37% of the vote, while the DA fell from 47% to 29%. The African National Congress (ANC) did not have a bad night either: it won a ward off a local party in the Siyathemba Municipality with its support growing from 39% to 51%. The ANC also had a big night in another by-election, this one in North West. “There are people who write off the ANC. There are people who say that the ANC is done. But here in a key township… in a gold mining town in the Northwest, the ANC's vote share is climbing from 72% to 81%.” Sussman notes that the Economic Freedom Fighters (EFF) were not able to capitalise on their Phala Phala victory over President Cyril Ramaphosa. He also 9comments on the engagement of the Independent Electoral Commission’s (IEC) with former President Jacob Zuma’s MKP in Nkandla as part of its preparations for the Local Government Elections in November.

Another victim has come forward to share her experience of allegedly being scammed by FXSI, a company accused of using sophisticated online tactics and deepfake-style advertising to lure victims into fraudulent investments. In this follow-up interview with BizNews, the victim explains how she first encountered the scheme through social media adverts that appeared credible and professionally produced, creating the impression of a legitimate investment opportunity.

The victim shares details how scammers built trust over time through persistent communication and promises of significant returns, before allegedly pressuring them into depositing more money. The interview also explores the emotional toll of the ordeal, the difficulties victims face after realising they have been deceived, and the steps she has taken to report the matter to authorities, including the South African Police Service.

As AI-generated scams and impersonation fraud become increasingly sophisticated, this interview highlights the growing risks facing ordinary South Africans online. The victim’s decision to speak publicly adds to mounting concerns around deepfake financial scams exploiting trusted public figures, media brands, and the credibility of online investment advertising.