| AI KNOWS ABOUT MONEY, BUT NOT ALWAYS ABOUT YOUR MONEY |
Artificial intelligence can deliver structured, practical financial advice, but researchers warn its guidance can overlook personal vulnerability and potentially worsen financial harm. Their analysis tested AI responses to three real-world scenarios: a young graduate saving for a home deposit, a pregnant woman planning financially for maternity leave with an unsupportive partner, and a single parent considering cryptocurrency after a relative’s recommendation. The research concludes AI is useful for financial fact-finding and brainstorming, particularly for financially literate users, but cannot yet replace informed human financial guidance.
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| WELLNESS ACCOLADE PAYS TRIBUTE TO PIONEERING WORKERS' TRUST |
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Group CEO Merrill King (centre) flanked by her team, (ltr) Teri Morgan Smith (District Leader), Kim Mcleish (National Sales Manager), Caitlyn Nothard (Business Operations Co-Ordinator) and Laura Morton (Group COO).
Capitol Caterers claimed the prestigious Employee Wellness Award at the 2026 KZN Top Business Awards to celebrate a two-decade investment in employees and giving them a stake in the business.
Founder Giles King established the Workers’ Trust in 2002 that saw employees with five years standing become beneficiaries of the Trust that owns 49% of Capitol Caterers. With dividends paid once or twice annually, staff have collectively received R23.1 million to date, embedding an empowering culture of ownership across the 1 400-strong workforce.
That spirit has been reinforced this year through new operational values: Be Kind, Be Supportive, Be Human and Be a Leader. The values are already helping create more harmonious working relationships across contracts, said CEO Merrill King. “The award recognises our simple philosophy that a valued employee helps to build a stronger business,” she said.
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| REMINDER: WOMEN ENTREPRENEURS INVITED TO UNLOCK FUNDING |
Women entrepreneurs are reminded of the free Fund Her Future workshop hosted at Pietermaritzburg and Midlands Chamber of Business Trade Hub this morning from 9-11 am. The Women’s Month special will introduce participants to Finfind, helping them identify suitable funding opportunities, understand funder requirements, optimise profiles and improve funding readiness. Finfind connects businesses to a national network of more than 300 funders and 600 finance products, broadening access to finance while removing much of the guesswork from the funding process. Eligibility is limited to women entrepreneurs. Contact the PMCB on (033) 345 2747.
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1982: Veteran anti-apartheid activist Ruth First was assassinated in Mozambique.
Elsewhere, in 2008, American swimming ace Michael Phelps won his 8th gold medal in the 2008 Beijing Summer Olympics, breaking Mark Spitz’s long-standing record.
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DURBAN SADC SUMMIT ON HIGH ALERT OVER ANTI-MIGRANT PROTEST
Security has been strengthened in Durban as regional leaders gather for the Southern African Development Community (SADC) summit at the International Convention Centre today. Authorities are preparing for an anti-immigrant march planned near the summit venue, amid heightened political and security sensitivities.
Delegates have begun arriving in the city for the high-level meeting, which comes as SADC faces mounting challenges around regional growth, youth unemployment, security and economic integration.
South Africa, which holds the bloc’s rotating chair, is expected to use the summit to advance trade and industrialisation priorities across the region. The planned protest has prompted additional security measures around the ICC and surrounding areas, with authorities focused on protecting delegates and maintaining public order during the summit. (SOURCE: BDLive)
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MINISTER VOWS SOUTH AFRICA WILL NOT RUN DRY
Deputy water and sanitation minister David Mahlobo has assured South Africans the country will not run out of water, despite mounting pressure on ageing infrastructure and unreliable municipal services. Water, energy and other basic services are increasingly emerging as key issues ahead of the elections. Mahlobo’s reassurance comes as concerns grow over deteriorating water networks, infrastructure backlogs, leaks and municipalities’ ability to maintain reliable supply. Government has been under increasing pressure to address the country’s worsening water challenges, with several communities experiencing interruptions and shortages. The minister’s comments underline government’s efforts to restore confidence while accelerating infrastructure investment and improving water management across the country. (SOURCE: BDLive)
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... AS DELAYED UMKHOMAZI PROJECT TARGETS 2032 WATER SUPPLY
Construction of the uMkhomazi Water Project Phase 1 in KZN is scheduled to begin in January 2028, with water delivery targeted for July 2032. The R27.5 billion bulk water scheme is expected to strengthen long-term water security in the province. Construction tender documents are planned for January 2027, while detailed investigations and design work continue. The project has faced access challenges in KwaZashuke, where the dam will be built, requiring engagement with affected communities and landowners. Funding includes a R6 billion grant and R6 billion interest-free loan, with additional commercial funding planned. (SOURCE: Engineering News)
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... AND 38.9% WASTEWATER PLANTS OPERATING IN THE DARK
South Africa needs to modernise wastewater monitoring to strengthen environmental protection and prepare infrastructure for increasing climate pressures, says Vaal University of Technology’s Dr Kgomotso Mtshatsheni. Of the country’s 876 wastewater treatment works, 341, or 38.9%, did not report design-capacity use data in 2021. Mtshatsheni identified persistent data gaps, climate-blind monitoring, limited technical capacity and fragmented governance as key weaknesses. Flooding, heavy rainfall and drought can undermine treatment efficiency and increase pollution risks. She recommends climate-adaptive monitoring using real-time systems, coordinated governance and continuous institutional learning. Technologies including Internet of Things sensors, artificial intelligence and digital twins could improve data collection, detect problems and strengthen decision-making. (SOURCE: Engineering News)
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SARB PROBES FIRM OVER R4 BILLION OFFSHORE TRANSFERS
The South African Reserve Bank is investigating fintech company Kastelo over allegations involving about R4 billion in offshore transfers, according to Business Day. The firm was founded and is chaired by Mark Burke, who is also the Democratic Alliance’s finance spokesperson. The investigation centres on allegations that Kastelo improperly used clients’ foreign-currency allowances to facilitate billions of rand in transfers offshore. The case places the fintech on the wrong side of South Africa’s exchange-control regulator and raises questions about compliance with rules governing cross-border transactions. The allegations have significant political and regulatory implications given Burke’s senior position in the DA and the scale of the transactions under scrutiny. (SOURCE: BDLive)
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APEX COURT DEALS SHELL'S WILD COAST PLANS DEATH BLOW
The Constitutional Court has delivered a decisive setback to Shell’s Wild Coast oil and gas ambitions, blocking offshore exploration after years of legal challenges by coastal communities and environmental groups. The court overturned a 2024 Supreme Court of Appeal ruling that had allowed Shell and Impact Africa to pursue seismic surveys under an exploration right granted in 2014. It found that later consultation could not cure earlier failures to properly involve affected communities. The judgment strengthens environmental rights, customary interests and administrative justice, while closing the door on further renewal of the contested exploration right. Shell said it remained committed to responsible exploration, stakeholder engagement and environmental stewardship. (SOURCE: Daily Maverick/Reuters)
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... AS ACTIVISTS RALLY BEHIND PRASA WHISTLEBLOWERS
Activist organisation #UniteBehind has joined Constitutional Court proceedings supporting former Prasa executives Martha Ngoye and Tiro Holele, who are seeking to overturn the court’s refusal to hear their appeal. The pair were dismissed in 2021 after challenging alleged corruption and unlawful contracts at the rail agency. The Labour Court initially ordered their reinstatement, but the Labour Appeal Court later ruled they should not return, despite finding their contracts were unlawfully terminated. The Constitutional Court declined to hear their appeal in December 2025. #UniteBehind says the case highlights the need to protect whistleblowers who expose corruption and defend public interests. (SOURCE: GroundUp)
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MORE FLAK FOR SAA AS ACTING CEO PUT ON SPECIAL LEAVE
South African Airways (SAA) acting group CEO Matshela Seshibe has been placed on special leave just four months after taking the position. The airline’s board gave no reasons, saying the decision follows an internal process and reflects its commitment to governance, accountability and leadership. Seshibe, previously head of SAA’s Air Chefs catering division, became acting CEO after John Lamola resigned in April alongside three board members. To ensure continuity, SAA chief legal officer Koekie Mbeki has been appointed acting group CEO with immediate effect. Mbeki has worked at SAA for 10 years and brings extensive institutional knowledge, the board said. (SOURCE: Moneyweb)
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US THREATENS STRANGELHOLD TO FORCE IRAN INTO SUBMISSION
The US plans to announce unprecedented economic measures against Iran next week as Washington seeks to force Tehran into concessions, Treasury Secretary Scott Bessent said. The measures will form part of a broader strategy including the continued blockade of Iranian ports. Iran’s economy has already suffered heavy damage from the war, with industrial capacity hit and crude exports sharply reduced. However, previous sanctions have failed to change Tehran’s nuclear policies or control of the Strait of Hormuz. Talks remain stalled, while both sides demand concessions over the strategic waterway, through which about one-fifth of global oil and gas is transported. (SOURCE: Bloomberg)
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... AS OIL RISES, GOLD RETREATS ON HORMUZ TURBULENCE
Oil prices climbed as the US threatened further economic measures against Iran, increasing pressure to reopen the strategically important Strait of Hormuz. Brent crude rose 1% to $87.95 a barrel, while West Texas Intermediate approached $82, with prices up more than 40% this year. Meanwhile, gold fell for a second day as investors took profits and reassessed the Federal Reserve’s interest-rate outlook. Spot gold declined 0.5% to $4 329.50 an ounce after reaching a 10-week high. Gold remains above $4 000, supported by central-bank buying, particularly from China. Analysts expect continued volatility in both commodities as geopolitical tensions, interest-rate expectations and supply concerns shape markets. (SOURCE: Bloomberg)
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'ELECTRIC SHOCK' TO PROPEL EVS TO 50% GLOBAL FLEET BY 2040
Electric vehicles could account for 25% of the global vehicle fleet by 2040, rising to 50% if policy, consumer demand and technology accelerate adoption, Wood Mackenzie says. Its “electric shock” scenario projects global oil demand falling to 99 million barrels a day, potentially triggering early closure of about 40 oil refineries. Faster EV growth would require an additional $45 billion (about R730 billion) in greenfield metals investment, including $25 billion for copper supply. China remains the global leader, with EVs accounting for 42% of car sales in Q2 2026. Expanded charging infrastructure and managed electricity demand will also be crucial as EV adoption accelerates worldwide. (SOURCE: Engineering News)
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SHELL AT CENTRE OF 50-COMPANY DATA HACK
Shell is among nearly 50 companies reportedly targeted in a major cyberattack by hacking group Cl0p, which claims to have stolen about 89GB of Shell data. The alleged haul includes engineering drawings, facility photographs, testing reports and project plans. Shell said it was aware of a possible incident and was investigating with security teams and external experts. Philips confirmed an attempted compromise of an internal enterprise server, while Fiserv said it had found no evidence of customer or banking data being compromised. GE also activated its cyber-response protocols. Reuters could not independently verify Cl0p’s claims. The group reportedly exploited vulnerabilities in PTC Windchill and FlexPLM software. (SOURCE: Reuters)
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NGO FORUM
UNDERSTANDING HOW LOCAL GOVERNMENT WORKS
• How local government benefit NPOs.
• How it works, the current realities it faces
• How NPOs can participate in shaping their municipality.
Presented by Anthony Waldhausen
Date: 21 August 2026
Time: 10h00 - 12h00
Venue: PMCB Offices, 1 Parkhaven , 55 Macleroy Road, Northern Park, Pietermaritzburg
Cost: No Charge
ABOUT THE SPEAKER
Anthony Waldhausen heads up the Msunduzi Association of Residents, Ratepayers and Civics and is well known to many in the NGO/NPO Sector. He ran a very successful NGO in the City for many years. A few years ago he left to form MARRC (Msunduzi Association of Residents, Ratepayers and Civics). We look forward to seeing you there. |
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Perhaps the most radical act of resistance in the face of adversity is to live joyfully.
Ari Honarvar |
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| Dollar | R16.16 | + 0.15% | | Pound | R21.90
| - 0.03% | | Euro | R18.72
| + 0.01% | | Yen | 0.101528 |
| | Yuan | R2.40 | + 0.14% | | Bitcoin | $ 63 431.75
| + 0.93% |
These rates are correct at time of going to press. | | Platinum | $ 1 762.70
| + 0.34% | | Gold | $ 4 394.26
| + 0.43% | | Oil | $ 88.39
| - 0.23% | | All Share | 114 061.46
| - 0.05% | | Repo | 7.00 | | | Prime | 10.50 | |
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