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The Lead: Meet the Jozi broker who disappeared with millions from friends, family, clients

The Lead: Meet the Jozi broker who disappeared with millions from friends, family, clients

News2409-06-2025
A 'smooth talker' who plied clients with fantastic food and drink, convincing many into handing over their precious millions, only to evade questions when it was time to cough up.
This is how numerous clients described the elusive Johannesburg investment broker, Mark Kretzschmar, to News24.
Tonight in The Lead, News24 Business journalist Jan Cronjé tells us how Kretzschmar allegedly duped investors, including family friends and discusses the litany of charges he faces.
Later in the show, we look at the possibility of Helen Zille standing for Joburg mayor.
Finally, a missing Comrades Marathon finisher was found in critical condition on a construction site, kilometres from the finish line.
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Forex for startups and SMEs: Expand globally without a treasury desk
Forex for startups and SMEs: Expand globally without a treasury desk

News24

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Forex for startups and SMEs: Expand globally without a treasury desk

For most South African startups and SMEs, Forex can feel like a distant problem, something only 'big corporates' with treasury teams need to worry about. But in today's global economy, that mindset can limit your growth. If you're importing and/or exporting, paying offshore service providers or eyeing international clients, you're already exposed to currency and its risk. The same applies to foreign loans, international equity deals, and dividend payments to offshore shareholders. If you're not actively managing this exposure, you're potentially leaving money on the table – or worse, putting your margins and cash flow at risk. In South Africa, the stakes are even higher. In addition to currency volatility, businesses must also navigate exchange control regulations – complex rules that govern how funds flow in and out of the country. Failing to comply can result in delays, penalties or blocked transactions, all of which can derail plans for international growth. A common scenario for startups A Cape Town-based tech startup recently landed its first international client in the UK. Excited and hopeful, they sent their first invoice and waited. Days turned to weeks. The payment was received by the bank, but the client was never notified. After numerous back-and-forth emails to the bank, the payment was finally located. However, the bank requested a long list of supporting documentation – unrelated to the actual payment – before it would be released. The founder – already stretched thinly across product, sales, and payroll – found himself buried in emails with his bank, unable to get straight answers. This isn't an isolated story. It's a reality for many South African SMEs navigating cross-border payments for the first time. You don't need to be a global business to feel the pressure of a global economy. Why small businesses are ignored – and why that's a problem Not all, but the majority of South African banks focus on big corporations. Who can blame them, right? That's where the money is. However, smaller businesses are often left with high fees, limited support and no clear road map for managing Forex. They're expected to figure it out on their own: opening accounts, sourcing invoices, navigating compliance, and trying to time currency movements with zero guidance. The result? Missed opportunities, poor exchange rates, payment delays and exchange control headaches, leading to unnecessary stress. Corporate-level Forex support for SMEs Sable International provides small and medium-sized enterprises with access to the kind of Forex tools and expertise typically reserved for large corporations. Their offering is designed to be both scalable and straightforward, making corporate-level support more accessible to smaller businesses. Helping you navigate Forex 1. Tailored onboarding and account setup Clients are guided through the process of opening a business Forex account with minimal administrative hassle. Each business is supported by a dedicated team that includes experienced Forex dealers, a back-office support unit, and specialists in exchange control. Their team is reliable, approachable and accountable. 2. Competitive rates with transparent pricing While Sable International doesn't position itself as a price-driven provider, they do offer competitive exchange rates without hidden spreads or unexpected charges. The emphasis is on transparency and consistency. 3. Practical risk management Their team assists businesses in understanding their currency exposure and developing straightforward strategies to manage risk and protect margins – without unnecessary jargon. 4. Simplified international payments The service facilitates fast, reliable international transactions, streamlining everything from supplier payments to incoming client receipts. 5. Experienced support tailored to SMEs Thanks to a strong understanding of the foreign exchange challenges facing South African businesses, Sable International offers hands-on support from professionals who focus on solving real-world problems, not just executing transactions. Global clients, local expertise Sable International supports a broad spectrum of early-stage and growth-oriented businesses that operate across borders or manage multi-currency transactions. Their clients typically include: Importers/exporters Tech startups paying overseas developers or collecting international revenue Agencies, creatives, and call centres billing offshore clients eCommerce brands sourcing stock or expanding to new markets Manufacturers buying machinery or raw materials from abroad Any business with international payment needs or exposure to foreign exchange risk can benefit from the firm's tailored support and expertise. The world is open for business, even for smaller South African companies. With the right support and access to appropriate tools, SMEs can confidently operate on a global scale. At Sable International, they specialise in helping South African businesses navigate the complexities of international payments, Forex risk and cross-border expansion without needing a treasury department or in-house expertise. saregistrations@ or give them a call on 021 657 2160. This article was written by Chris Lukan, Head of Forex Operations, at Sable International.

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