| BRACE FOR PAIN AT THE FUEL BOWSER AT MIDNIGHT |
Motorists should brace for fuel hikes at midnight when the adjusted prices for July kick in. Both petrol and diesel prices set to rise due to a weakened Rand and oil price volatility from the Israel-Iran conflict. Petrol 93 is to set rise by 50 cents per litre, petrol 9 (+53c/l):, diesel 0.05% wholesale (+ 82 c/l), and diesel 0.005% wholesale (+ 84 c/l). The July increases bring an end to declining fuel prices over the past few months. (SOURCE: BusinessTech) |
| EDEN GARDENS IOD CENTRE OFFERS PAINLESS CLAIM PROCESS |
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(ltr) Johan Kruger (Med24), PMCB CEO Melanie Veness, Eden Gardens Hospital Manager Qhubekani Ndiweni and Zandile Ndlovu (Department of Labour).
A new Injury on Duty (IOD) Centre has officially opened at Eden Gardens Private Hospital to help companies manage workplace injuries. The centre calls on emergency staff from Med24 to offer convenient, world-class medical care for injuries of any severity. The centre also takes care of the administrative and bureaucratic headaches often involved in the IOD claims process. For employers, this means quicker turnaround for employee recovery and a reduction in productivity losses, especially critical in today’s strained economic climate.
With all treatment costs covered by the Department of Labour, the centre’s staff handles the administration, from obtaining the critical claim number to compiling and distributing the documentation for pharmacies, specialists, labs, and more. This ensures swift access to care and prevents delays caused by missing paperwork or compliance errors.
The IOD Centre also uses a specially designed sick note system to curb fraudulent medical certificates. The centre can be contacted on 060 609 6988 (IOD Centre) and 033 815 4600 (hospital). |
| CLEAR THE DECKS FOR CHRISTMAS-IN-JULY CHAMBER LUNCH |
| Chamber Lunch in July means only one thing: it’s going to be festive, frivolous and fun in celebration of Christmas in July. Proceedings at the Pietermaritzburg and Midlands Chamber of Business include a scrumptious two-course meal, refreshments and lots of lucky draw prizes, not to mention the networking in a convivial ambience. It’s also a great opportunity to market your business by sponsoring a lucky draw prize by contacting Kay at (chamber@pmcb.org.za). Proceedings get underway at 12.30 pm. Book your space for the 10 July shindig and contact Thabisile on (033) 3452747 or at info@pmcb.org.za. |
1968: South Africa signed the Nuclear Non-Proliferation Treaty along with the world’s nuclear powers and 57 non-nuclear nations.
Elsewhere, in 1908: Morse code SOS was adopted as the International Distress Signal.
Know any chicken jokes? Today is International Chicken Wing Day and International Joke Day.
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NOW'S THE TIME FOR 3% INFLATION TARGET, SAYS KGANYAGO
Reserve Bank Governor Lesetja Kganyago has renewed calls to lower the country’s inflation target, arguing that the current midpoint of 4.5% still erodes currency value over time. In the SARB’s annual report, Kganyago warned that at 4.5%, prices double every 16 years, undermining the Bank’s constitutional duty.
With inflation at 2.8% in May, he sees a timely opportunity to adopt a 3% target, aligning South Africa with global peers. SARB modeling suggests the shift could lower borrowing costs and reduce inflation expectations. A joint SARB-Treasury team is finalizing recommendations, which will soon be presented to key decision-makers. (SOURCE: Bloomberg)
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...AS SARS CLAWS BACK R7.69 BILLION IN TAX DEBT
The South African Revenue Service (SARS) collected R7.69 billion in tax debt in May, part of a drive to close a widening tax gap now estimated at R800 billion. While SARS ramps up tech-driven enforcement - including AI models detecting non-filers - concern is rising that compliant taxpayers may suffer as SARS targets evaders. The South African Institute of Chartered Accountants (Saica) has urged SARS to avoid “heavy-handed” tactics and focus on true evasion. Although SARS staffing has declined 22% since 2015, it’s been allocated R4 billion more to boost revenue. Saica also called for better resourcing of the underfunded Tax Ombud, which receives over 4,600 taxpayer complaints annually. (SOURCE: Moneyweb) |
... AND EXPORTS PUSH MAY TRADE SURPLUS TO R21.7 BILLION
South Africa posted a preliminary trade surplus of R21.7 billion in May, driven by exports worth R175.7 billion and imports of R154.1 billion, according to SARS. Exports rose 6.3% month-on-month, led by gold, platinum group metals, and citrus, while imports grew 1.2%, mainly from crude oil, corundum, and smartphones. Trade with BELN countries accounted for an R11.7 billion surplus. Cumulatively, 2025’s surplus stands at R60.3 billion, slightly below 2024’s R63.9 billion. A previous April surplus figure was revised downward from R14.1 billion to R13 billion. Year-on-year, both exports and imports fell by about 2.5% compared to May 2024, highlighting softening global trade dynamics.(SOURCE: Engineering News) |
POLICY UNCERTAINTY EASES IN FRAGILE GROWTH OUTLOOK
Policy Uncertainty Eases Slightly but Economic Outlook Remains Fragile South Africa’s Policy Uncertainty Index (PUI) dipped slightly to 75.9 in Q2 2025 from a record 78.6, according to the NWU Business School. While the decrease is encouraging, the index remains deeply negative. Global risks - including geopolitical tensions, erratic US tariffs, and downgrades in growth forecasts - continue to weigh heavily. Domestically, positives such as lower inflation, potential interest rate cuts, and the adoption of a pragmatic budget are offset by weak GDP growth, high unemployment, and subdued investment. The business school urges a strategic policy shift to support a fragile recovery and accelerate toward the government's 3% GDP growth target. (SOURCE: Engineering News) |
NEW CEO TAKE CHARGE AT SEIFSA
Seifsa Appoints Tafadzwa Chibanguza as CEO Designate The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has appointed Tafadzwa Chibanguza as CEO designate, effective 1 July 2025. Currently Seifsa’s COO since March 2022, Chibanguza will officially assume the CEO role on 1 January 2026, succeeding Lucio Trentini, who plans to retire in 2027. Until then, Trentini will support Chibanguza to ensure a smooth leadership transition. Seifsa president Elias Monage expressed confidence in Chibanguza’s ability to lead the federation into a new era, amid ongoing challenges in the metals and engineering sector that demand long-term, inclusive strategies for sustainability and industry revitalisation. (SOURCE: Engineering News) |
... AND STALWART TAKES HELP AT BASA
Beth Arendse Appointed to Lead Business and Arts South Africa Business and Arts South Africa (Basa) has named Beth Arendse as its new CEO, effective 1 July 2025. With over 25 years of experience in the creative and cultural sectors, Arendse is renowned for fusing arts, entrepreneurship, and education to empower emerging talent. She has served on key advisory bodies, including the Presidential Commission for the Fourth Industrial Revolution. Her appointment marks a strategic shift for Basa as it refocuses on embedding the creative economy into national development. Arendse aims to drive inclusive growth by unlocking the full potential of South Africa’s cultural and innovation sectors. (SOURCE: Bizcommunity) |
... AND NEW PRISA HEAD TO DRIVE RENEWAL
Bradly Howland Appointed PRISA President Amid Push for Industry Renewal Bradly Howland has been appointed president of the Public Relations Institute of Southern Africa (PRISA) at its 68th AGM in Sandton on 27 June. With over 20 years in strategic communications, Howland steps into the role at a pivotal time, aiming to rebuild credibility, elevate professional standards, and reassert PRISA’s relevance. His 12-month term will focus on member value, ethical leadership, and long-term sustainability. Key initiatives include launching an Accountability Charter, new CPD offerings, structured mentorships, and an academic-led Prisms Summit. Howland succeeds Oscar Tshifure, who helped reposition PRISA during a critical phase of transformation. (SOURCE: Bizcommunity) |
EX-TRANSNET EXECS GRANTED BAIL IN R93 MILLION LOCO ARRESTS
MK Party MPs Brian Molefe and Siyabonga Gama, both former Transnet executives, have been granted bail of R50 000 each. following their arrest over a R93 million locomotive procurement deal. The pair, who turned themselves in to the Hawks, were previously arrested in 2022 for a separate R54 billion deal involving Gupta-linked Trillian Capital. Investigations revealed irregular contract awards and payments. Both were named in the Zondo Commission report, which recommended criminal prosecution. The MK Party has called for a fair trial as legal scrutiny of past Transnet leadership intensifies amid efforts to address state capture corruption. (SOURCE: The Citizen) |
ASTRAL GETS GREENLIGHT FOR AVIAN FLU JABS
Astral Launches Bird Flu Vaccination Amid H5 Threat JSE-listed poultry producer Astral Foods has received government approval to begin vaccinating its broiler breeding stock against the H5 strain of avian influenza. Granted by the Department of Agriculture after an 18-month application process, the permit allows a controlled rollout at one of Astral’s major Gauteng farms. The vaccine, used internationally, reduces mortality and virus shedding but doesn’t protect against the H7 strain, which caused South Africa’s devastating 2023 outbreak. Astral CEO Gary Arnold said the initial site represents 5% of its breeding stock, with plans to expand. Strict biosecurity, traceability, and veterinary oversight will govern the vaccination programme. (SOURCE: Engineering News) |
LESOTHO TEXTILE SECTOR IN CRISIS AS US TARFIFFS LOOM
Lesotho’s textile sector faces collapse following a 50% US tariff imposed in April by President Donald Trump - the highest globally. Although the tariff was paused until 9 July, uncertainty has stalled orders from US buyers, leading to factory shutdowns and mass layoffs. The industry, Lesotho’s largest, employs 12 000 people and supports 40 000 more. Exports to the US reached $237.3 million (about R4.3 billion) last year, or 11% of GDP. Trade Minister Mokhethi Shelile confirmed efforts to negotiate reduced tariffs, but no response has been received from US authorities. Union leaders warn that thousands of workers face an uncertain future without urgent resolution.(SOURCE: Bloomberg) |
BITCOIN STANDS TALL AS CRYPTOCURRENCIES SHED R5.6 TRILLION
Bitcoin’s market dominance has surged to 64% in 2025, its highest since 2021, amid a $300 billion (about R5.6 trillion) decline in altcoin value. While Bitcoin thrives on ETF inflows and institutional interest - backed by projects like Twenty One Capital and Trump-linked ventures - most altcoins are struggling. The shift marks a move toward a regulated, utility-driven crypto landscape, sidelining speculative tokens. Altcoins like Maker and Hyperliquid tied to real revenue show resilience, while many others face extinction. With hopes pinned on the CLARITY Act to provide regulatory support, experts say only tokens with real use cases will survive crypto’s evolving market structure. (SOURCE: Bloomberg) |
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Peace cannot be kept by force; it can only be achieved by understanding.
Albert Einstein |
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| Dollar | R17.66 | + 0.37% | | Pound | R24.27 | + 0.19% | | Euro | R20.80 | + 0.47% | | Yen | 0.122944 | . | | Yuan | R2.47 | +0.28% | | Bitcoin | 106 959.80
| - 0.16% |
These rates are correct at time of going to press. | | Platinum | $ 1 346.40
| - 0.61% | | Gold | $ 3 331.48 | + 0.86% | | Oil | $ 66.83
| + 0.38% | | All Share | 96 772.21
| + 0.35% | | Repo | 7.25 | | | Prime | 10.75 | |
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