| GETTING A GRIP ON WOMEN’S WORKPLACE CHALLENGES OVER COFFEE |
Attendants at the final Coffee Conversation gathering this year.
Held in a safe, inclusive environment under Charter House guidelines, the Pietermaritzburg and Midlands Chamber of Business hosted a Coffee Conversation exploring women’s experiences in the workplace. The discussion covered equity, leadership growth, mental health, and work–life balance, emphasising the importance of supportive corporate cultures. Participants shared insights and personal stories, promoting open dialogue and mutual learning. HR and business leaders highlighted practical ways to advance diversity and empower women in all professional levels. The event reinforced the PMCB’s commitment to building workplaces that prioritise respect, psychological safety, and long-term career development for women.
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| NEWCASTLE STEEL MILLS FALL SILENT AS RESCUE HOPES DIM |
ArcelorMittal South Africa (Amsa) has ceased long steel production at its Newcastle plant and placed most facilities under care and maintenance, having fully drawn its R1.683 billion Industrial Development Corporation (IDC) loan meant to delay the wind-down. The company continues to trade remaining stock while exploring a potential rescue with the IDC. The closures, driven by high energy costs, cheap Chinese imports, and falling domestic demand - down 20% over seven years - threaten 3 500 jobs. Counter-intuitively, a R2.5 billion Chinese-backed steel mill is being built in Nigel to produce 600 000 tonnes annually to highlight surplus capacity in South Africa’s 10-million-tonne steel market. (SOURCE: Moneyweb)
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| TRADE WITH EGYPT WEBINAR REGISTRATION DEADLINE TOMORROW |
The Department of Trade, Industry and Competition (dtic), together with the South African Embassy in Egypt, is hosting a webinar, Doing Business with Egypt, on 11 November from 10am to 12.45 pm via Microsoft Teams. The session aims to equip South African exporters with market insights, trade strategies, and investment opportunities in Egypt. Participants must register by 7 November here to gain access to guidance on expanding exports in one of the world’s most dynamic economies.
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1969: The first of several anti-apartheid demonstrations was launched against the Springbok rugby tour in the UK.
Elsewhere, in 2024, Donald Trump won the US presidential vote against Kamala Harris.
Also on this day in 1605, Guy Fawkes attempted to plot to blow up the British parliament, monarch, and family.
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WEATHER INDEX INSURANCE BOOSTS SMALLHOLDER PROTECTION
South Africa has launched its first parametric, or Weather Index Insurance, marking a breakthrough for over 2 million smallholder farmers vulnerable to climate shocks. Granted to Santam by regulators, the licence allows automatic payouts when rainfall or temperature triggers are met - offering faster relief after droughts or floods. With fewer than 3% of smallholders in sub-Saharan Africa currently insured, this model could transform resilience and food security.
Supported by the World Bank, parametric insurance eliminates costly assessments and ensures affordability through aggregation and subsidies. For South Africa’s largely women-led rural farms, it’s a critical safeguard that strengthens livelihoods and shields families from devastating income losses. (SOURCE: Bizommunity)
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OPTASIA'S R6.5 BILLION IPO LARGEST FINTECH LISTING IN 7 YEARS
Fintech company Optasia successfully listed on the JSE, raising R6.5 billion in an oversubscribed IPO priced at R19 per share, giving it a market value of R23.5 billion. The company, backed by First Rand and Standard Bank, reaches 120 million active users across 38 countries, processing over 31 million transactions daily. Optasia’s AI-driven B2B2X platform promotes financial inclusion by extending credit to underserved populations. The IPO, the largest fintech listing since 2018, positions Optasia to expand across emerging markets. Analysts highlight Africa’s fintech market could reach $65 billion by 2030, led by SA, Nigeria, Kenya, and Egypt. (SOURCE: Engineering News)
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... AS MANTENGU PROBE UNCOVERS JSE FRAUD SYNDICATE
An investigation into Mantengu Mining has exposed an alleged R500 million share manipulation scheme involving senior Johannesburg Stock Exchange (JSE) personnel and external traders. The syndicate is accused of falsifying trades and inflating Mantengu’s share price by over 200% between 2022 and 2024 to profit from insider positions. Reports suggest police interference and the disappearance of key evidence have stalled progress. Mantengu’s management has demanded transparency and criminal prosecution, warning that the scandal undermines investor confidence in South Africa’s R21 trillion capital market. Financial regulators are now under pressure to restore integrity and enforce accountability. (SOURCE: BDLive) |
U-TURN ON FOREIGN PENSIONS EXTENDS TAX-FREE INCOME
The South African government has reversed its proposed taxation of foreign pension income, temporarily sparing around 500 000 retirees who receive an estimated R15 billion annually from overseas pensions, including the UK, Netherlands, and Australia. Treasury confirmed the policy will remain tax-free “for now” while consultations continue. The move follows strong public backlash and legal concerns over potential breaches of double-tax agreements. Authorities noted that a long-term solution could still involve taxation, but retirees can breathe easier for the moment. The review will assess the fiscal impact on the national budget, estimated at R2–3 billion annually, before any final decision. (SOURCE: News24) |
STATS SA CASH CRISIS THREATENS DATA RELIABILITY
Statistics South Africa (Stats SA) is confronting a severe financial crisis, jeopardizing its capacity to deliver accurate and timely national data. This funding shortfall risks undermining public trust and the credibility of critical statistics used for policymaking and economic planning. Finance Minister Enoch Godongwana is set to address this issue in the upcoming budget statement, seeking solutions to stabilize the agency’s finances. Stats SA’s challenges highlight the importance of sufficient public funding to maintain high-quality statistical services essential for governance, economic forecasting, and informed decision-making across government and business sectors. (SOURCE: BDLive) |
URBAN SATURATION FEARS DOG RETAILERS' EXPANSION PLANS
Absa warns that South Africa’s retail sector, despite continued expansion, is approaching saturation in key urban areas. The bank’s analysis shows that retail floor space has grown by more than 20% in Gauteng, KwaZulu-Natal, and the Western Cape since 2021, creating pockets of oversupply in high-income suburbs. While national retail sales rose 2.3% year-on-year in 2025, smaller towns reported declines of up to 8%, reflecting weaker demand and slower economic recovery. Consumer spending remains constrained by elevated interest rates (8.25%) and household debt exceeding 62% of disposable income. Absa cautioned that although new malls continue to open, profitability is increasingly under pressure in saturated metros, with rural growth lagging behind. (SOURCE: BDLive) |
... AS PEPKOR'S LEGIT DEAL BRINGS STORE COUNT TO 1 400
Pepkor has finalised the R1.7 billion acquisition of fashion retailer Legit and related sister companies, significantly expanding its retail footprint. The transaction adds 469 stores to the Pepkor Specialty division, bringing its total to over 1 400 outlets across southern Africa. Legit, previously part of the TFG Africa group, strengthens Pepkor’s position in the affordable women’s fashion segment. The company said the deal supports its strategy of diversification and accessible retail growth, aligning with its focus on value-driven, high-volume brands targeting the mid- to lower-income market. Integration of the new stores will begin immediately. (SOURCE: SENS)
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ARM ENDS COAL INVESTMENT, SHIFTS TO CRITICAL MINERALS
African Rainbow Minerals (ARM), chaired by billionaire Patrice Motsepe, has halted new coal investments and will pivot toward critical minerals vital to renewable technologies. Coal contributed about R3.9 billion to ARM’s headline earnings in 2024, but the group plans to grow exposure to copper, nickel, and manganese - used in batteries and electric vehicles. The company cited South Africa’s new Climate Change Act as a driver of the shift, warning of short-term cost increases. ARM’s total headline earnings fell 13% to R11.1 billion, underscoring the need to diversify away from fossil fuels toward sustainable, high-demand resources. (SOURCE: BDLive)
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SANRAL PROCUREMENT CHIEF SUSPENDED OVER R1.5 BILLION TENDER
An investigation into Mantengu Mining has exposed an alleged R500 million share manipulation scheme involving senior Johannesburg Stock Exchange (JSE) personnel and external traders. The syndicate is accused of falsifying trades and inflating Mantengu’s share price by over 200% between 2022 and 2024 to profit from insider positions. Reports suggest police interference and the disappearance of key evidence have stalled progress. Mantengu’s management has demanded transparency and criminal prosecution, warning that the scandal undermines investor confidence in South Africa’s R21 trillion capital market. Financial regulators are now under pressure to restore integrity and enforce accountability. (SOURCE: BDLive)
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BONITAS R800 MILLION CONTRACT SPARKS DEEPER PROBE
The Council for Medical Schemes (CMS) has intensified its investigation into Bonitas Medical Fund’s R800 million administration contract awarded to Professional Healthcare Administrators (PHA). The probe centres on alleged irregular procurement and governance breaches. CMS confirmed receiving multiple complaints over the tender, which manages contributions from Bonitas’s 800,000 members and R12 billion annual reserves. Regulators are examining whether key decision-makers complied with transparency and tender regulations. Bonitas has pledged full cooperation, maintaining that all processes were legal and independently verified. The findings could have major implications for South Africa’s second-largest open medical scheme. . (SOURCE: BDLive)
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GLOBAL INEQUALITY GAP AT CRISIS LEVEL, WARNS G20 STUDY
In a first-of-its-kind study commissioned under G20 auspices, data from the World Inequality Lab reveal stark global disparities. Between 2000 and 2024 the richest 1% captured about 41% of all new wealth, while the poorest 50% managed only around 1% of that increase. The report also found that in 2021 the top 10% of people owned roughly 76% of global wealth, while the bottom half held a mere 2%. (Reuters) These trends, exacerbated by shocks such as the pandemic and the war in Ukraine, are deemed an “inequality emergency” - undermining growth, democracy and global stability. (Reuters)
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BITCOIN SELL-OFF SIGNALS UNDER-PRESSURE MARKET
Bitcoin fell as much as 7.4% this week, dropping below $100 000 (about R1.75 million) for the first time since June, down over 20% from last month’s record high. Unlike October’s crash driven by futures liquidations, this decline stems from long-time holders offloading roughly 400 000 BTC - worth about $45 billion - creating market imbalance. Daily liquidations were modest at $2 billion, compared with $19 billion in October. Analysts warn that with whale and mid-sized holders continuing to sell and new buyers subdued, the market could remain under pressure. Maximum downside is projected around $85 000, with potential consolidation extending into spring 2026. (SOURCE: Bloomberg)
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TRAINING - DISCIPLINE & DISMISSAL
TRAINER: Pravashnee Kotiah – NKR Outsourced HR
OVERVIEW
Understand the provisions of the Labour Relations Act as it relates to effecting discipline and dismissal, as well as the recently published NEW Code of Good Practice – Dismissal.
Learn what the practical steps are to investigating misconduct, obtaining written statements, issuing warnings, drafting notices to attend hearings, presenting evidence and arguing the company's case, understand what mitigating and aggravating factors are and how they are applied in deciding on the appropriate penalty for misconduct.
WHO SHOULD ATTEND?
Business leaders, Managers, HR Champions.
Attendees will receive a certificate of attendance.
Date: 12 November 2025
Time: 08:00 – 12:30
Venue: PMCB Offices, 1 Parkhaven , 55 Macleroy Road, Northern Park, Pietermaritzburg
COST (includes vat)
PMCB Members: R785 p/p, R740 p/p for 3/more, R685 p/p for 5/more
Non-members: R1035 p/p, R1015 p/p for 3/more, R980 p/p for 5/more
Please note: The company will be liable for payment unless CANCELLATION is received in writing 24 hours prior to the event. |
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Weakness of attitude becomes weakness of character.
Albert Einstein |
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| Dollar | R17.51 | + 0.10% | | Pound | R22.81 | + 0.02% | | Euro | R20.12 | + 0.01% | | Yen | 0.113864 |
| | Yuan | R2.46 | + 0.09% | | Bitcoin | $ 101 776.80 | + 1.53% |
These rates are correct at time of going to press. | | Platinum | $ 1 539.20
| - 0.02% | | Gold | $ 3 965.94
| + 0.86% | | Oil | $ 64.51
| + 0.39% | | All Share | 107 382.26 | - 0.56% | | Repo | 7.00 | | | Prime | 10.50 | |
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