Njabulo Sibeko
This week on Kaya Biz, we reflected on the first anniversary of South Africa’s Government of National Unity and whether this political experiment has made any meaningful contributions to the country’s economy. One thing is clear: while the coalition hasn’t yet delivered an economic boom, it has proven that politicians from different camps can work together when the stakes are high.
In other business news, the South African new vehicle sales reached their highest level in almost six years, with July seeing a total of 51 383 vehicles being sold across the country. However it wasn’t all good news: a new report warns that the rise of offshore e-commerce platforms like Shein and Temu could cost South Africa over 34 000 jobs if unchecked.
We also spoke to Joelene Pierce, the newly appointed CEO of KPMG South Africa to reflect on her journey from trainee in Pietermaritzburg to leading one of the country’s largest professional services firms.
Here are the highlights stories of the week:
34 000 local jobs could be lost if offshore e-commerce platforms like Temu & Shein continue to grow.
Guest – Irshaad Kathrada, CEO of the Localisation Support Fund (LSF)
Offshore e-commerce retailers, including Shein and Temu, are rapidly gaining ground in South Africa’s clothing, textile, footwear and leather sector displacing thousands of local jobs in manufacturing and online retail.
The Localisation Support Fund warns that, in a worst-case scenario, their combined sales could hit R22.6 billion by 2030, taking a 63% e-commerce market share and putting over 34,000 jobs at risk.
New Vehicle Sales Surged To Their Highest Level In Almost 6 Years In July
Guest – Mikel Mabasa, CEO of NAAMSA
South African new vehicle sales hit 51,383 units in July the best monthly performance since October 2019 and a 15.6% jump from last year. Passenger cars led the charge with 36,248 units sold, helped by strong rental car demand.
One Year In – Has The GNU Delivered?
Guest – Jason Swartz, Portfolio Manager, Old Mutual Investment Group
Twelve months in, the GNU hasn’t yet transformed the economy, but it has shown that South African politicians can collaborate across divides. The jury’s still out on whether this will translate into meaningful policy outcomes.
In conversation with the new CEO of KPMG South Africa
Guest – Joelene Pierce, CEO of KPMG in South Africa
With 26 years at KPMG, including stints in Luxembourg and London, Joelene Pierce’s appointment as CEO marks both a personal milestone and a strategic turning point for the firm. She takes over at a time when South Africa’s audit profession is under intense scrutiny to restore trust, enhance transparency, and embrace technology-driven assurance.
The Future Of Public Broadcasting In The US After CPB Funding Cuts
Guest – Pearl Matibe, Washington D.C.-based Foreign Correspondent
The Corporation for Public Broadcasting (CPB) is facing an existential threat from proposed budget cuts under the Trump administration. Proponents of the cuts argue it’s a step toward reducing government spending, while critics warn it will cripple independent journalism, especially in rural and underserved communities where public media is often the only reliable news source.
