| HATS OFF TO STYLISH ELEGANCE IN AID OF COMMUNITY CHEST |
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Community Chest Executive Director Richard Rangiah (top, second left) was the thorn among roses at the recent event to celebrate spring.
The Pietermaritzburg and District Community Chest recently hosted the Hats-Off to Spring event, where 30 ladies donned stylish hats to raise funds for charity. The occasion saw enthusiastic participation as attendees pledged generously towards the Community Chest’s ongoing fundraising initiatives. The vibrant and elegant gathering successfully combined social celebration with a heartfelt commitment to supporting vulnerable communities.
Through the event, the Community Chest continues to foster solidarity and generate essential resources for its programs, reinforcing its vital role in uplifting those in need across the city and surrounding Midlands. Described as "a memorable springtime celebration of giving and community spirit", special thanks was extended to Rakisha Maharaj, Jennifer Reddy, Joey's Towing Services, Lazerlicious, Candles & Decor, Save Hyper, Next Coffee Shop, Wonderbags, Dr Sanjay Maharaj, Whats Popping PMB, Foodpak, Morar Inc, Delaine Cools, and Styled.
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| CALL TO SUPPORT CHILDRENS HOME FUND-RAISING GOLF DAY |
The Pietermaritzburg Children’s Home (PCH) is hosting its annual Golf Day on Saturday, 11 October at the Maritzburg Golf Club. The organisers are calling on companies to support the event, an important fund-raising endeavor, by sponsoring a hole, offering branded gifts to the participating teams, and entering a foursome for the 4-BBB stableford competition. Interested parties to contact Fiona Balgobind on 0844444503 or at director@pch.org.za.
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| WATER BOARD SHOWS BUSINESS UNIT CHAIR THE DOOR |
The Umngeni-Uthukela Water Board has fired Khanyisani Shandu as chair of the utility’s business unit - Umngenu Water Services - in the wake of prima facie evidence of corruption uncovered in a forensic probe. Shandu, alleged to have ANC political ties and appointed by suspended Water and Sanitation minister Senzo Mchunu, faced repeated whistleblower complaints over corruption and interference in operational matters. Advocate Lavan Gopaul has been named as his replacement. Shandu remains an ordinary board member while investigations by the minister of water and sanitation continue. (SOURCE: News24)
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1991: Nadine Gordimer won the Nobel Prize in Literature.
Elsewhere, in 1990, West Germany and East Germany ended 45 years of post-war division, declaring the creation of a reunified country.
Balloons in all sizes, shapes and colours are celebrated today across the world on Balloon Day.
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KZN CRACKS DOWN ON TRUCKS CAUSING N3 CHAOS
KZN authorities are finally intensifying efforts to curb truck-related mayhem on the N3, showing encouraging signs of tackling road safety risks. This week, a blitz by the Department of Transport and Human Settlements, in collaboration with police and Home Affairs, led to 10 arrests, including three truck drivers who were undocumented.
Officers stopped 260 trucks, charging 13 drivers for traffic violations, while assessing weighbridge compliance. Over recent months, 207 891 vehicles were weighed, with 48 973 overloaded and 5 842 charged for violations. MEC Siboniso Duma said the crackdown aims to prevent trucks turning roads into high-accident zones with a focus on undocumented drivers. Newly graduated 177 traffic officers are now strengthening operations, targeting safer, law-abiding road networks across the province. (SOURCE: FreightNews)
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STATE DANGLES LEVEL 3 B-BBEE STATUS TO FINANCE TRANSFORMATION
The government is exploring a 3% levy on private companies to fund a national Transformation Fund, which could potentially generate R40 billion annually. Firms contributing to the fund would automatically qualify for level-3 BEE status, offering a streamlined route to compliance and incentivizing participation. The initiative is aimed at accelerating broad-based economic empowerment, funding programs that support historically disadvantaged communities, and addressing persistent inequalities in ownership, skills development, and enterprise opportunities. While proponents argue the fund would provide a stable and predictable source of financing for transformative initiatives, critics warn the levy could increase operational costs for businesses already facing economic pressures. (SOURCE: Moneyweb)
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UIF FAILS TO PROTECT DISTRESSED WORKERS, EMPLOYERS
The Unemployment Insurance Fund (UIF), which manages more than R120 billion in reserves, is under fire for failing to deliver timely relief to South Africans in need. Tens of thousands of workers face payment delays of up to six months, leaving households in financial distress. Employers also report that UIF red tape blocks access to benefits designed to protect jobs, with many claims rejected or left unresolved. During the COVID-19 pandemic, for example, the UIF processed over R64 billion in Temporary Employer/Employee Relief Scheme (TERS) payments, but systemic inefficiencies, fraud and corruption crippled trust. Urgent reform is needed to restore accountability and ensure the UIF fulfils its role as a true safety net. (SOURCE: News24)
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SASSA EXTENDS POSTBANK RELIEF TO 3 MILLION BENEFICIARIES
The South African Social Security Agency (Sassa) has extended its Master Services Agreement (MSA) with Postbank by three months, giving authorities time to resolve ongoing disputes. The contract, initially set to end on 30 September, ensures around 3 million social grant beneficiaries continue receiving payments without fees. Postbank has faced operational challenges, leading to declining customers from 8 million in 2020 to 2 million. Without the MSA, beneficiaries could face monthly fees for basic banking services. Stakeholders, including Black Sash, remain concerned about potential disruptions and the risk of forcing beneficiaries to private banks lacking subsidised social grant protections. (SOURCE: GroundUp)
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SEPTEMBER VEHICLE SALES UP 24.3% FOR 10-YEAR MILESTONE
South Africa’s new-vehicle sales surged to their highest September level since 2015, with 54 700 units sold, up 24.3% year-on-year, according to naamsa. Passenger cars rose 28% to 38,603 units, while light commercial vehicles grew 19.7% to 13,078 units. Heavy trucks and buses increased 5.9%, but medium trucks fell slightly. Strong exports supported the market, rising 32.9% to 38 772 units. Vehicle rentals accounted for 15.2% of sales. Despite steady demand, medium-term growth remains muted. Slower inflation and subdued vehicle price increases, aided by a stronger rand and competition, have improved affordability. Year-to-date exports are 6% higher than 2024, reflecting resilience amid global supply chain challenges and US tariffs. (SOURCE: Engineering News)
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2 000 MINING JOBS BRING SMALL RELIEF TO UNEMPLOYMENT GLOOM
The mining sector added 2 000 jobs in Q2 2025, reaching 468 000, even as total non-agricultural employment fell by 80 000 quarter-on-quarter. Gains were driven by platinum, gold, chrome, and coal mining, highlighting the sector’s resilience amid broader economic challenges. Year-on-year, however, mining lost 6 000 jobs. Real gross earnings in mining rose faster than productivity, suggesting wage growth outpacing output, potentially affecting competitiveness. Gross sector earnings reached R49.8-billion, up 2.2% quarter-on-quarter. Minerals Council SA warns that sustaining jobs requires structural reforms, stable trade negotiations, and an investible operating environment. Despite pressures, mining continues to outperform most other sectors in employment growth. (SOURCE: Engineering News)
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JSE RIVALS GEAR UP FOR ASSAULT ON LUCRATIVE ETF MARKET
South Africa’s alternative stock exchanges, A2X and the Cape Town Stock Exchange (CTSE), are preparing to challenge the JSE’s dominance in exchange-traded products (ETPs). Both platforms are seeking regulatory accreditation to expand their offerings beyond equities and debt instruments into ETPs, a rapidly growing global investment vehicle. The move could boost competition, lower costs, and increase access for investors. While the JSE remains the country’s primary exchange, A2X and CTSE believe diversification into ETPs will enhance their relevance and appeal to issuers seeking new listing options in an evolving financial market. (SOURCE: News24)
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REGISTRATION DRIVE TO BRING ALL DRONES ONTO RADAR
The government plans to register every drone on a new electronic system to improve regulation and control. This initiative, outlined in the Draft Airfreight Strategy 2025, addresses concerns about disorderly drone operations and insufficient regulation by the Civil Aviation Authority (SACAA). All remotely piloted aircraft systems (RPAS) must be registered and equipped with tracking devices. The system aims to enhance airspace safety, enable risk-based drone operation categorization, and manage drone corridors connecting economic hubs. The government invites public feedback, aiming to balance innovation with security in South Africa’s growing drone ecosystem. (SOURCE: News24)
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ZIMBABWE’S DOLLAR EXCHANGE SURGES 45% ON GOLD BOOM
Zimbabwe’s Dollar-only Victoria Falls Stock Exchange (VFEX) has soared 45% in 2025, lifting its market value to $1.8 billion (about R31 billion) September’s end. The rally is driven by a 48% surge in gold prices, with mining companies like Caledonia Mining, Padenga Holdings, and newly listed Kavango Resources benefiting. VFEX stocks are increasingly viewed as a proxy for gold, attracting asset managers and pension funds. A shortage of ZiGs, Zimbabwe’s local currency, has further boosted dollar-based trading, shifting sentiment away from Harare’s main exchange. With 17 listed firms, VFEX has become a magnet for capital in mining and resource-linked stocks. (SOURCE: Bloomberg)
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... AS GOLD EXTENDS RALLY AMID US SHUTDOWN FEARS
Gold yesterday surged for a sixth straight day, trading at $3 884/oz, just shy of Wednesday’s record, as US shutdown concerns and weak payroll data boosted bets on Federal Reserve rate cuts. The suspension of government operations is delaying key economic releases, heightening reliance on private data. Traders now expect two additional cuts this year. Gold, up 48% in 2025, is heading for its best year since 1979, fueled by central bank purchases and ETF inflows. Chinese investors are also piling into gold funds. Silver hit a 14-year high, while platinum and palladium recorded modest gains. (SOURCE: Bloomberg)
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MUSK HALFWAY TO BECOMING WORLD'S FIRST TRILLIONAIRE
Elon Musk, CEO of Tesla and SpaceX, is now estimated to be worth around $500 billion (about R8.7 trillion), placing him halfway to becoming the world’s first Dollar trillionaire. The milestone is driven by strong investor confidence in Tesla’s electric vehicle expansion, SpaceX’s satellite internet venture Starlink, and ambitious projects in artificial intelligence and clean energy. Analysts suggest Musk’s diversified ventures position him uniquely for exponential wealth growth, though market volatility remains a risk. Musk could cross the trillion-dollar threshold within a decade, cementing his status as the most financially powerful entrepreneur in modern history. (SOURCE: AFP)
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The only way to make sense out of change is to plunge into it, move with it, and join the dance.
Alan Watts |
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| Dollar | R17.28 | + 0.07% | | Pound | R23.22
| + 0.01% | | Euro | R20.26
| - 0.09% | | Yen | 0.117109 |
| | Yuan | R2.43
| + 0.16% | | Bitcoin | $ 119 949.30
| - 0.25% |
These rates are correct at time of going to press. | | Platinum | $ 1 570.52
| - 0.05% | | Gold | $ 3 857.98
| + 0.04% | | Oil | $ 64.69
| + 0.61% | | All Share | 108 090.22
| - 0.52% | | Repo | 7.00 | | | Prime | 10.50 | |
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