| TOMORROW: CALLING TIME ON CHAOTIC ELECTRICITY BILLING |
The Msunduzi Municipality has been under the cosh for some time about using tariffs to balance its budget. It turns out the problem goes deeper and that the municipality has been misapplying the Time of Use (TOU) tariffs despite Eskom’s April 2025 timetable adjustments. There’s a raft of problems associated with the municipality's application of TOU tariffs, as Alan Gevers of Accountable Utilities points out. For example, Instead of rewarding electricity-savvy consumers, Msunduzi penalises businesses using power during standard hours (7 am–4 pm) by charging the outdated 26% peak rates, it ignores off-peak consumption, miscalculates allowable reactive energy, and public holidays are wrongly treated as weekdays, denying consumers 12 days of credits annually.
To help businesses get a grip on the systemic abuse of tariffs, Gevers will lead a discussion tomorrow, Wednesday, 26 November, from 10 am to 12 noon at the Pietermaritzburg and Midlands Chamber of Business to plot the way forward, discuss remedies and ensure fair billing. Clearly, it's incumbent on companies to attend in the interests of transparency and governance, not to mention savings. To book contact Kay Reddy, chamber@pmcb.org.za or 033 3452747.
For more details about the abuse of TOU tariffs, click on this link to download a document. |
| MENTAL WELLNESS TRAINING BUILDS RESILIENT WORKPLACES |
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Assistant trainer Kim Budram (first left) and trainer Kavisha Chandrakassi (second right) with some participants at the workshop, the final business skills training session of the year.
Addressing mental wellness in the workplace is essential for healthier teams and stronger organisational performance. A training session, led by industrial psychologist Kavisha Chandrakassi, at the Pietermaritzburg and Midlands Chamber of Business helped leaders to understand mental health, reduce stigma and create supportive, psychologically safe environments.
Participants learned to recognise early signs of stress, burnout, anxiety and other common challenges, while gaining practical tools for intervention, referral and ongoing support. The training also highlighted the financial impact of poor mental health, from reduced productivity to higher absenteeism. Designed for managers, supervisors, HR professionals and team leaders, the programme strengthens leadership capability and fosters resilient, engaged workplaces.
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| ROLL UP FOR A TASTE OF POTJIE, PANCAKES AND GOOD VIBES |
The All Saints United Church is the place to be on Saturday, 29 November for an afternoon of good food, great company, and a lively atmosphere. The mouth-watering aroma of unique potjie flavours simmering to perfection is the perfect invitation for visitors to cheer on the cooks, sample the different potjies and celebrate the spirit of fellowship and fun to the sounds of the Marimba band. Visit His Little Shop for handmade treasures and gifts and taste the pancakes - R15 for two - on sale. Potjie and rice will sell for R60 with a mystery judge deciding the Best Potjie of the Day. Visitors are advised to roll up around 11 am at the church on Montgomery Drive.
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1981: Failed coup by South African mercenaries under Mike Hoare in Seychelles.
Elsewhere, on this day in 2005, the Polish minister of national defence opened Warsaw Pact archives to reveal possible nuclear strikes against Western Europe, including the annihilation of 43 Polish cities by Soviet-controlled forces.
Today is observed as the International Day for the Elimination of Violence Against Women.
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SARS LAUNCHES CHARM OFFENSIVE TO WIN OVER TOP TAXPAYERS
SARS has launched a new Strategic Taxpayer Forum to strengthen cooperation with South Africa’s largest companies, who collectively contribute more than 60% of national tax revenue. The initiative follows a stronger-than-expected revenue performance, with collections rising above R1.8 trillion in the last fiscal year.
The forum brings together CEOs, CFOs and tax heads from major corporations to address compliance concerns, streamline audits and improve dispute resolution. SARS Commissioner Edward Kieswetter says the platform aims to rebuild trust, boost voluntary compliance and close the tax gap, supporting the government's drive for predictable, sustainable revenue growth. (SOURCE: BDLive)
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ESKOM, TRANSET STAND FIRM ON R410 BILLION INFRASTRUCTURE DRIVE
Eskom and Transnet leaders say South Africa’s infrastructure turnaround requires an aligned national strategy backed by clear funding flows and regulatory reform. Eskom noted that grid stabilisation and expansion will need more than R250 billion over the next decade, including upgrades to transmission lines and substations. Transnet highlighted its R160 billion capital requirement to modernise rail corridors and expand port capacity, warning that delays cost the economy over R1 billion a day in lost efficiency. Both entities stressed that streamlined approvals, policy certainty and deeper public-private partnerships are essential to crowd in investment and restore the performance of South Africa’s logistics and energy backbone. (SOURCE: BDLive)
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... AS R580 MILLION SETTLEMENT CLOSES KUSILE DISPUTE
Eskom and Stefanutti Stocks have finalised a R580-million settlement to end multiple contractual disputes at the multibillion-rand Kusile Power Station, one of South Africa’s largest infrastructure projects. The agreement settles claims dating back more than a decade, involving delays, scope changes and cost escalation at Units 1–6, which together are designed to add 4,800MW to the national grid. Stefanutti said the payout will strengthen cash flow and reduce legal exposure, while Eskom noted that clearing legacy claims is essential to stabilising project timelines. The settlement is viewed as a critical step toward completing Kusile’s remaining work and supporting Eskom’s recovery programme. (SOURCE: BDLive)
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WOODLANDS DAIRY BUYS LADISMITH CHEESE IN EXPANSION
Woodlands Dairy has announced plans to acquire 100% of Ladismith Cheese Company, including Ladismith Powder Company and Mooivallei Suiwel, from Sea Harvest Group. The deal expands Woodlands’ national footprint and strengthens its portfolio across UHT milk, yoghurt, cheese and milk powder. Founded in 1999, Ladismith brings strong regional capacity and established brands. Woodlands says the transaction will create South Africa’s largest wholly SA-owned, 25% Black-empowered dairy group, improving efficiencies and widening its farmer network. Sea Harvest will use sale proceeds to reduce long-term debt as it refocuses on core seafood operations. The acquisition remains subject to regulatory approval. (SOURCE: Bizcommunity)
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AFRICAN BANK EYES ENTRY TO HOME LOANS MARKET
African Bank plans to launch a new home loan product following its recently finalised deal with Eskom, aimed at expanding access to affordable housing finance. The initiative targets first-time buyers and underserved communities, supporting South Africa’s broader homeownership and economic growth goals. Details indicate loan sizes could range from R500 000 to R3 million, with competitive interest rates linked to prime, and flexible repayment options to suit varying income levels. African Bank says the partnership with Eskom enables streamlined credit assessment and energy-efficient property financing. The product rollout is expected in early 2026, marking a strategic push into the mortgage market. (SOURCE: News24)
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CELL C'S R2.7 BILLION IPO PRICES SHARES AT R26.500
Cell C Holdings has closed its listing offer at R26.50 a share, giving the telecom group a market capitalisation of R9-billion for its 340-million ordinary shares. The offer, representing 30% of total issued shares, raised R2.7-billion from 102-million sale shares, allocated to selected investors. Broad-based BEE partner Sisonke Growth Partners acquired 54.23-million shares (15.95%), while historically disadvantaged persons (HDP) will hold a combined ~31%, exceeding regulatory minimums. Cell C is set to begin JSE trading on 27 November 2025, with no plans for over-allotment. The listing marks a major milestone in the company’s transformation and capital expansion. (SOURCE: SENS)
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NETCARE POSTS 20.7% EARNINGS RISE, WEARABLE DEVICE ROLL-OUT
Netcare posted a 20.7% rise in headline earnings per share for the year ended 30 September 2025, with revenue up 4.5% to R26.3 billion and operating profit increasing 13.2% to R3.6 billion. Total dividends rose 21.4% to 85 cents per share. CEO Richard Friedland highlighted resilient demand for private healthcare and announced the imminent rollout of wearable devices for continuous patient monitoring. Despite macroeconomic challenges, Netcare continues to engage in universal healthcare solutions while maintaining profitability, cash generation of R5.4 billion, and operational efficiency across its hospitals. (SOURCE: SENS)
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SA, EU SEAL LANDMARK CRITICAL MINERALS PACT
South Africa and the European Union have signed an “unprecedented” critical minerals partnership ahead of the Johannesburg G20 Summit. The pact strengthens cooperation on securing vital metals for renewable energy, electric vehicles and advanced manufacturing. EU leaders highlighted plans to build resilient supply chains, including a €9 million joint purchasing mechanism to secure rare earths. President Cyril Ramaphosa said the agreement will boost local beneficiation so minerals are processed at the point of extraction, lifting South Africa up the value chain. With the US absent, analysts say the deal deepens SA–EU ties and reinforces support for multilateralism and democratic global governance. (SOURCE: Bizcommunity)
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HARMONY GREENLIGHTS R27 BILLION COPPER PROJECT DOWN UNDER
Harmony Gold has given the green light to its $1.55 billion (about R27 billion) Eva copper project in Queensland, marking one of its largest growth investments outside South Africa. The mine is expected to produce a combined 100,000 tonnes of copper a year once fully commissioned, significantly boosting Harmony’s base-metal portfolio. Construction will span roughly three years, with peak on-site employment reaching more than 1,200 workers. The project includes new processing facilities, expanded open-pit operations and supporting infrastructure. Harmony says Eva will strengthen long-term earnings, diversify revenue streams and position the miner to meet rising global demand for copper driven by renewable energy and electric vehicles. (SOURCE: News24)
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EUROPEAN IPOS SET FOR STRONG 2026 REVIVAL
European IPO bankers are forecasting a resurgence in listings next year, driven by a strong post-summer pipeline and rising equity markets. Since September, IPOs including Verisure Plc, Noba Bank Group AB, and Ottobock SE have performed above issue price, boosting confidence. So far in 2025, EMEA exchanges have raised over $21 billion (about R363 billion), still 34% below 2024, but analysts expect multibillion-euro deals like Czechoslovak Group (€30bn) and Visma AS (€19bn) to hit markets in 2026. Rising geopolitical stability, predictable regulations, and investor appetite for defence, infrastructure, and fintech stocks support the outlook, though volatility remains a potential risk. (SOURCE: Bloomberg)
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COP30 INKS COMPROMISE DEAL, SKIRTS FOSSIL-FUEL CONUNDRUM
COP30 concluded in Belem, Brazil, with a compromise climate agreement boosting finance for developing nations but notably omitting any commitments on fossil fuels. The deal, finalised after two weeks of tense negotiations, faced objections from Colombia, Panama, Uruguay, and the EU, who sought explicit fossil fuel transition language. Rich countries agreed to triple funding by 2035 to help vulnerable nations adapt to climate impacts like floods, droughts, and heatwaves. UNFCCC Executive Secretary Simon Stiell acknowledged progress despite global divisions, while Brazil’s COP30 President Andre Correa do Lago urged continued dialogue on emissions, forests, and trade alignment to advance climate action. (SOURCE: Reuters)
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The PMCB welcomes the following new members:
NST Real Estate – Property development services – 081 355 2763
Pure Life Zone – Insurance for low to high earners – 068 109 0806
Core Health – Health Coaching – 072 821 3707
To find out more about chamber membership and the many benefits click here. |
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Our greatest responsibility is to be good ancestors.
Jonas Salk |
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| Dollar | R17.28 | + 0.12% | | Pound | R22.64 | + 0.15% | | Euro | R19.91 | + 0.13% | | Yen | R0.00 |
| | Yuan | R2.44 | + 0.01% | | Bitcoin | $ 87 879.10
| - 0.98% |
These rates are correct at time of going to press. | | Platinum | $ 1 549.80
| + 0.25% | | Gold | $ 4 140.89
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