> ## Content Index > Fetch the complete content index at: https://www.businessbagel.com/llms.txt > Use this file to discover other available public pages before exploring further. # The Roundup — Wednesday, 9 September 2026 - URL: https://www.businessbagel.com/the-roundup-wednesday-9-september-2026/ - Published: 2026-09-09T04:00:00.000Z - Updated: 2026-09-09T05:19:50.000Z - Author: Christian Maidman Today’s edition Half Banked Good morning. Old Mutual's new bank has the customers and the deposits, and now has to work out how to lend the money back out. DStv has split its sport in two and kept the Springboks on the expensive side. And Discovery's bank, seven years in the making, has finally turned a profit - mostly off people who were never Discovery customers. Two banks at very different points of the same journey, and a broadcaster deciding what the Springboks are worth. Let's get into it. --- MARKETS ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/markets--38-.png) --- STEP ONE OF TWO ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/1-2.png) ## South Africa's newest bank has 742,000 customers. Now comes the difficult part. Old Mutual has spent the past year building South Africa's newest bank, and the first part appears to be working. OM Bank ended June with 742,000 customers and R1.4 billion in retail deposits, up from 284,000 customers a year earlier, and half of its new transactional sign-ups are people who weren't previously Old Mutual clients. But getting people to deposit money is only the first half of building a bank. To eventually make money, OM Bank needs to put those deposits to work by lending them out and earning interest, and that part is only getting started. **How a bank actually makes money:** - You deposit your money, and the bank lends it out to somebody else. - That borrower pays interest, which is one of the main ways a bank makes money. - OM Bank has already built up R1.4 billion in deposits, but its lending product only soft-launched earlier this year. - Now Old Mutual plans to ramp up app-based lending in the second half of the year. More than R4 billion has already gone in to building this bank, with another R2 billion allocated through 2027\. OM Bank lost R764 million in the first half, and is targeting profitability in 2028. [**Read the full story →**](https://www.businessbagel.com/om-bank-742000-customers-deposits/) --- SOLD SEPARATELY ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/2-3.png) ## Half of DStv's sport is moving down a package, and not the half with the Springboks DStv splits its sport in two on 17 September. One half drops into a new package called Sports, at R479 a month on satellite, which is what Compact costs now: every PSL, Premier League and Champions League game, all the cricket, the Currie Cup, Varsity Rugby and one United Rugby Championship match a week. Cricket and domestic rugby have been locked in Premium for years, so a Compact household gets all of that for no extra money. The other half does not move. Springbok rugby stays in Premium, along with the rest of the international rugby, every other match in that same rugby competition, Formula 1, MotoGP, the golf majors and tennis. Premium is R979 a month on satellite against R479 for Sports, both before the access fee, so the second half of the sport costs R500 a month more than the first. There is no way to buy the Springboks without buying everything else in Premium, and MultiChoice will sell that at R799 all in to anyone signing for 24 months. Nobody's bill goes up on the day, and MultiChoice expects the average subscriber to keep paying about what they pay now. [**Read the full story →**](https://www.businessbagel.com/dstv-package-overhaul-premium-r799/) --- BAGEL BITE **What is the hardest natural substance on Earth?** **A.** Quartz **B.** Granite **C.** Diamond --- DOING THE ROUNDS ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/6-3.png) **South Africa’s farms had their best second quarter on record, and the American recovery everyone noticed is the smallest part of it.** Exports totalled $4.1 billion in the three months to June, up a tenth on last year on higher volumes and better prices. Africa took two fifths of that, and the United States 3%. Shipments there rose 56% after the effective tariff fell by more than half. They are still a quarter below the same quarter last year, when exporters shipped early to beat the Liberation Day tariffs. [**Full story →**](https://www.businessbagel.com/sa-q2-2026-farm-exports-record/) **Old Mutual’s headline numbers point in opposite directions.** The earnings figure the market watches fell 30% over the half, pulled down by investment returns in markets that turned defensive after the Middle East conflict. The operating side did well: results from operations rose 7%, while life sales and gross flows each grew by a fifth. The board still lifted the interim dividend to 40 cents and approved another billion rand of share buying. Group risk officer Ranen Thakurdin was named finance chief designate the same morning. [**Full story →**](https://www.businessbagel.com/old-mutual-h1-2026-earnings-cfo-designate/) **Discovery Bank has stopped losing money.** It made an operating profit of R370 million in the year to June, after a loss the year before. Client numbers rose about a quarter to 1.57 million and revenue by nearly a third. Roughly 70% of new business now comes from people who were not Discovery customers, and Adrian Gore has put the bank at the centre of the group’s strategy. He wants it earning R3 billion a year by 2029, and the second phase of that plan starts on 1 October. [**Full story →**](https://www.businessbagel.com/discovery-bank-superbank-fy2026-profit/) **Two well-known South African investment funds have been forced to change how they pick shares.** Satrix and Old Mutual had funds built to follow the JSE’s Rafi 40 index, but the JSE’s agreement with the company behind it has now ended. Both funds have moved to replacements. For Satrix investors, the name and fee stay the same, but the formula deciding which companies the fund invests in has changed, meaning the mix of shares they own will change too. [**Full story →**](https://www.businessbagel.com/jse-rafi-40-index-discontinued/) --- WEATHER ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/weather--34-.png) --- BAGEL GAMES ![](https://storage.ghost.io/c/97/24/9724ffa3-48e9-48a7-a5f7-e38b7d2c9b36/content/images/2026/09/Wordle--38-.png) Have you got what it takes to win today’s Wordle? [**Play here →**](https://puzzel.org/en/wordle/play?p=-P10bA08BnlLn3SIGmGq&ref=businessbagel.com) --- THE ANSWER As for the Bagel Bite, the answer is: **C. Diamond** Diamonds form deep underground under enormous heat and pressure, which locks their carbon atoms into an extremely rigid structure. That structure is what makes them so hard that they can cut through metal and stone, which is why diamond tips are used in industrial cutting and drilling tools. Despite their toughness, a diamond can still chip if struck at the wrong angle. Most natural diamonds are billions of years old.= --- That’s your Wednesday handled. Enjoyed it? Forward it on, a friend can subscribe in a click. Written by the Business Bagel crew.