| BE WARY OF PERSUASIVE FINANCIAL AI ADVICE THAT'S DEAD WRONG |
| POP-UP GALLERY TOASTS YOUNG TALENT, BOOSTS VISITOR EXPERIENCE |
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Some of the entries in this year's record-setting ARTopia exhibition at Liberty Midlands Mall.
ARTopia 2026 has transformed the Liberty Midlands Mall into a pop-up gallery that showcases the artistic talent of school children in and around the city to boost visitor engagement and elevate its appeal as a community destination.The exhibition is celebrating its biggest exhibition yet with a record 23 schools showcasing 652 artworks inspired by the Ocean Odyssey theme.
Running until 19 July, the exhibition features paintings, drawings, collages and mixed-media creations by learners from Grades 1 to 7. Visitors are encouraged to vote for their favourite artwork, with schools competing for R45 000 in prize money, including R15 000 for each category winner. The three overall winning artworks will also be transformed into branded merchandise, creating a lasting legacy for the young artists. One lucky voter will win a R2 000 Liberty Midlands Mall gift card. |
| REMINDER: MARKETING STRATEGIES TO POWER NGO IMPACT TOMORROW |
NGO leaders are reminded of a free presentation, Marketing That Feels Right: From Invisible to Unforgettable, tomorrow, 10 July at the NGO Forum at the Pietermaritzburg and Midlands Chamber of Business. Brand strategists Karren and Kelly Hodgkins of Purple Mookiting will share practical frameworks to help organisations define their unique voice, communicate effectively, attract donors and build lasting trust. The two-hour session will explore strategic marketing principles that enable NGOs to strengthen visibility, sustain funding and maximise their social impact. Conatct Kay on (033) 345 2747 or at chamber@pmcb.org.za.
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1737: The first missionary landed in Cape Town.
1958: A mega-tsunami struck Lituya Bay in Alaska, producing a wave measured at 516 metres, the highest ever recorded.
Watch out for those repetitive-sound triggers on World Misophonia Awareness Day. |
'SHADOW AI' USE BY FINANCIAL SECTOR STAFF RISKS CYBERSECURITY BREACHES
Nearly one in three employees at South African banks and insurance companies may be using unauthorised artificial intelligence tools, increasing cybersecurity, privacy and regulatory risks, according to a new industry report.
The 2026 Digital Employee Experience Report by Nexio estimates that 31% of workers are using "shadow AI" despite corporate policies governing AI use. While 81% of respondents said they were satisfied with their workplace technology, and 86% believed it enabled them to work productively, only 23% felt their employer was adequately preparing them for an AI-driven future.
The report warns that staff may inadvertently expose sensitive customer or company information by entering it into unapproved AI platforms, underscoring the need for stronger governance, employee training and secure, organisation-approved AI tools across the financial services sector. (SOURCE: News24).
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IMPENDLE, NEWCASTLE MUNICIPALITIES FORFEIT TREASURY EQUITABLE SHARE
Seven KwaZulu-Natal municipalities are among 69 across South Africa whose July equitable share allocations have been withheld by the National Treasury over persistent financial mismanagement. The affected KZN municipalities are iMpendle, uMzinyathi District Municipality, Newcastle, eMadlangeni, Amajuba District Municipality, AbaQulusi and uMkhanyakude District Municipality. Finance Minister Enoch Godongwana said the intervention targets councils with repeated unauthorised, irregular, fruitless and wasteful expenditure and continued failures to comply with the Municipal Finance Management Act. Treasury says the funding freeze is intended to protect public funds, improve financial governance and enforce accountability before allocations are restored. (SOURCE: Moneyweb)
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… AS KZN MISSES OUT ON ESKOM’S PROVINCIAL LOAD REDUCTION
Eskom has eliminated load reduction in five of South Africa's nine provinces, marking a significant milestone in its nationwide programme to improve electricity reliability. More than 1.1 million customers have been removed from load reduction schedules, achieving 65.17% of the utility's eradication target. A total of 545 feeders have been restored, with Mpumalanga joining the Western Cape, Northern Cape, Free State and North West as load reduction-free provinces. Remaining problem areas are concentrated mainly in Gauteng and KwaZulu-Natal. Eskom aims to eliminate load reduction in seven provinces by October and nationwide by March 2027. (SOURCE: Engineering News).
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BULK RAIL RECOVERY ON TRACK, AS CONTAINER TRAFFIC LAGS
Transnet Freight Rail's bulk commodity network has recovered to pre-Covid performance, with coal exports on track to reach 65 million tonnes in 2026 after 165 trains reached the Richards Bay Coal Terminal last week. Improved locomotive availability and reduced cable theft have lifted total freight volumes towards 170 million tonnes this year, up from about 140 million tonnes in 2022. However, general freight and container services remain sluggish because of infrastructure constraints. Government aims to increase total rail freight to 250 million tonnes by 2029, supported by private train operators and major port investments to improve logistics efficiency. (SOURCE: Moneyweb)
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ELECTRONIC ACTIVITY SLIPS ON GLOBAL UNCERTAINTY
South Africa's economic activity slowed to a seven-month low in June, with the PayInc Economic Index declining to 132.6, down from 133.1 in May. The index, which measures the value of electronic transactions cleared through the banking system, recorded its weakest reading since November 2025. Businesses delayed investment while consumers cut discretionary spending as uncertainty over the Iran conflict and a fragile ceasefire weighed on confidence. The weaker reading highlights how global geopolitical tensions are filtering into the domestic economy, with concerns over fuel prices, inflation and trade prompting more cautious spending by households and companies. (SOURCE: BDLive)
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... AS IMF RATCHES UP 2026 GROWTH OUTLOOK
The International Monetary Fund (IMF) has marginally upgraded South Africa's 2026 economic growth forecast to 1.1%, from 1.0% projected in April, citing stronger policy frameworks and continued structural reforms. The revised outlook matches the country's expected 2025 growth rate but remains below the South African Reserve Bank's forecast of 1.2%. Globally, the IMF trimmed its 2026 growth forecast to 3.0% as conflict in the Middle East, trade fragmentation and supply chain risks weigh on the economy, although advances in artificial intelligence are helping offset some of the impact. Saudi Arabia suffered the biggest downgrade, with its growth forecast slashed from 3.1% to 1.7% because of the regional conflict. (SOURCE: News24)
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EX-TREASURY EXEC IN TENDER-AWARDS CROSSHAIRS
National Treasury is investigating procurement decisions linked to former chief director Molefe Fani following allegations that he influenced the awarding of a government tender to associates of Major-General Feroz Khan. The probe follows claims of irregularities involving multimillion-rand contracts and forms part of broader investigations into alleged corruption within Treasury procurement processes. Fani has been implicated in affidavits detailing suspected interference in tender adjudication, while Khan has also been linked to separate allegations involving kickbacks on government contracts. The investigation could lead to disciplinary, civil or criminal action if evidence confirms procurement rules were deliberately breached. (SOURCE: BDLive)
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HYPROP'S R739 MILLION CAPITAL RAISE BEATS EXPECTATIONS
JSE-listed property group Hyprop has raised R739 million in an oversubscribed capital raise, reflecting strong investor confidence in the retail real estate sector. The company issued 12.6 million new shares at R58.50 each, a 1.4% premium to its 30-day average share price. The proceeds will fund expansion opportunities in Eastern Europe, upgrades to Somerset Mall and Croatia's City Centre one East, and renewable energy projects, including solar and battery storage at Canal Walk and Somerset Mall. Hyprop said the fundraising will not affect its forecast of 10% to 12% distributable income growth for 2026. (SOURCE: Moneyweb)
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NO JOY FOR EPIC FOODS IN MAGNUM ICE CREAM SHOWDOWN
Magnum has won a ruling against Epic Foods after the Advertising Regulatory Board found the company's Cool Joy! ice cream packaging unlawfully imitated Magnum's Joy! range. The watchdog ruled the similar name, rounded white lettering on a dark background and red exclamation mark exploited Magnum's advertising goodwill and were likely to confuse shoppers. Magnum's Joy! range, launched in 2019, has generated more than R236 million in sales, while Epic introduced Cool Joy! in October 2025. Epic has three months to withdraw the current packaging from the market. (SOURCE: News24)
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LESOTHO COURT DEALS 3 000 GIANT DAM CLAIMANTS A BLOW
Thousands of people seeking compensation over the Lesotho Highlands Water Project have suffered a legal setback after Lesotho's Constitutional Court ruled their case should be heard through the High Court instead. More than 3 000 individuals and 889 businesses claim they were underpaid or not compensated for land, livelihoods and businesses affected by the Katse, Mohale and Polihali dams. The court did not rule on the merits of the compensation claims, finding existing legislation provides adequate legal remedies. The decision allows affected communities to continue pursuing civil claims through the ordinary courts. (SOURCE: GroundUp)
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UAE BANKING BEHEMOTH EYES SA MARKET ENTRY
The UAE’s largest lender, First Abu Dhabi Bank (FAB), plans to apply for a South African banking licence after winning a court battle over its trademark against FirstRand’s FNB. The victory clears a key hurdle for the bank, which has assets exceeding R6.6 trillion and is chaired by Sheikh Tahnoon bin Zayed al-Nahyan. A South African licence would allow FAB to expand directly into one of Africa’s biggest financial markets, strengthening trade and investment links between the Gulf and the continent. The move signals growing international interest in South Africa’s banking sector despite challenging economic conditions. (SOURCE: BDLive)
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BITCOIN, OIL PRICES SURGE ON RENEWED MIDEAST TENSIONS
Bitcoin and oil prices climbed as renewed tensions between the United States and Iran unsettled global markets. Bitcoin rebounded to about $62 100 after earlier volatility, while Brent crude jumped nearly 6% to $78.55 a barrel following fears of escalating conflict and potential disruptions to energy supplies. Analysts said geopolitical uncertainty has increased expectations of higher inflation and interest rates, prompting sharp swings across financial markets. Despite recent volatility, Bitcoin has attracted continued institutional support through inflows into US spot exchange-traded funds, although traders expect price movements to remain highly sensitive to developments in the Middle East. (SOURCE: Bloomberg)
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Compassion is language the deaf can hear and the blind can see.
Mark Twain |
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| Dollar | R16.36 | + 0.43% | | Pound | R21.95
| - 0.08% | | Euro | R18.71 | + 0.15% | | Yen | 0.100825 |
| | Yuan | R2.41 | + 0.28% | | Bitcoin | $ 62 740.55
| + 1.00% |
These rates are correct at time of going to press. | | Platinum | $ 1 616.00
| + 1.98% | | Gold | $ 4 108.61
| + 0.82% | | Oil | $ 77.27
| - 2.56% | | All Share | 109 827.41
| + 1.36% | | Repo | 7.00 | | | Prime | 10.50 | |
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