| LEGACY MEDIA IN SURVIVAL CRISIS ON MOUNTING OPERATIONAL COSTS |
South Africa's once-formidable newspaper industry is under mounting pressure as shrinking circulation, declining print advertising and rising production costs threaten its long-term sustainability. Independent Media secured a new operator, Media24 began another newsroom overhaul, and Ubuntu Media staff went unpaid. Paid newspaper circulation continues to fall sharply, while digital platforms capture increasing advertising revenue, intensifying concerns over the long-term sustainability of print journalism.
See below: TV channel braces for 171 job losses |
| WOMEN IN BUSINESS LUNCHEON MAKES A MEMORABLE SPLASH |
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Guest speakers Captain Londy Ngcobo and endurance swimmer Sarah Ferguson enthralled guests at the annual Women in Business Luncheon.
The popular Women in Business Luncheon made waves as 410 guests embraced this year's ocean-themed celebration of leadership, resilience and networking. Hosted by the Pietermaritzburg and Midlands Chamber of Business, and sponsored by FNB with Cell C as support sponsor, the event featured inspiring keynote addresses by Captain Londy Ngcobo, Africa's first female Dredge Master, and Sarah Ferguson, the Guinness World Record-holding endurance swimmer currently attempting a multi-stage 1 500km swim from Mozambique to Cape Town.
With additional support from The Witness as media partner and CHC Catering, the luncheon was a rip-roaring succes, showcasing the stories of Ngcobo and Ferguson rich in perseverance, courage and breaking barriers. Lively networking and themed entertainment added more lustre to one of the Chamber's standout events.
Click here to view the full gallery of pictures. |
| TIME IS OF THE ESSENCE, LEARN TO HOW TO BOOST PRODUCTIVITY |
A time management workshop on 19 August, presented by Tanya Hulse of Training Leadership Consulting, will cover SMART goals, prioritisation, delegation, overcoming procrastination, energy management and effective meetings. Staged at the .Pietermaritzburg and Midlands Chamber of Business, the morning course is aimed at managers, sales and marketing teams and people wishing to maximise efficiency. Contact Thabisile on (033) 345 2747 or at info@pmcb.org.za.
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1990: The Pretoria Minute was agreed upon by the government and the ANC to pave the way for negotiations to end apartheid.
Elsewhere, in 1945, the US dropped an atomic bomb on Hiroshima.
Celebrate underwater beauty on International Scuba Day.
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BLAME WEAK GROWTH ON STATE CAPTURE LEGACY, SAYS KGANYAGO
South African Reserve Bank Governor Lesetja Kganyago has attributed the country's prolonged low economic growth to the lasting damage caused by state capture, saying institutional destruction continues to undermine investment and productivity. He argued that weakened public institutions, governance failures and declining state capacity have constrained economic expansion despite macroeconomic stability.
Kganyago stressed that rebuilding capable institutions, improving infrastructure and restoring confidence are essential to lifting growth and creating jobs. His comments reinforce calls from business leaders for accelerated structural reforms, warning that stronger policy implementation and institutional renewal are critical if South Africa is to achieve sustained economic growth and attract investment. (SOURCE: BDLive)
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GLOBAL INVESTORS EYE FRESH WAVE OF DEALMAKING
Global investors remain optimistic about South Africa's corporate sector, with Bank of America forecasting a fresh wave of mergers and acquisitions driven by high-quality local companies. Despite economic headwinds, the bank says attractive valuations and resilient businesses continue to draw international interest. Since 2015, Bank of America has executed more than $20 billion (about R327 billion) in transactions for clients across Sub-Saharan Africa, underscoring its confidence in the region. The expected increase in dealmaking could unlock new investment, support business expansion and stimulate economic activity as companies pursue growth, consolidation and strategic acquisitions in South Africa's evolving corporate landscape. (SOURCE: BDLive)
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RAND'S RISE GREASED BY OIL'S SLIDE
The Rand emerged as one of the strongest-performing emerging market currencies after global oil prices fell below $80 a barrel, easing pressure on fuel-importing economies. Lower crude prices improved investor sentiment towards South Africa by reducing inflation risks, supporting the trade balance and strengthening the local currency. A firmer Rand also lowers the cost of imported fuel, raw materials and manufactured goods, providing some relief for businesses and consumers. Analysts caution, however, that the currency remains vulnerable to shifts in global interest rates, geopolitical tensions and commodity price volatility, which could quickly reverse recent gains. (SOURCE: Bloomberg)
See below: Gold glitters on renewed Hormuz-opening hopes |
... AS TRADERS FACTOR IN MORE VOLATILITY
South Africa's relatively stable Rand has provided importers and exporters with improved pricing certainty, helping businesses plan procurement and manage costs more effectively. However, the South African Trade Desk warns that companies should not become complacent, as global risks could quickly trigger renewed currency volatility. Factors such as US monetary policy, geopolitical tensions, commodity prices and international trade disputes remain key threats to exchange-rate stability. Businesses involved in international trade are encouraged to strengthen foreign exchange risk management, review currency exposure regularly, consider forward cover where appropriate and diversify supply chains to minimise the impact of sudden swings in the Rand. (SOURCE: FreightNews)
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PRIVATE SECTOR GROWTH EDGES LOWER IN JULY
South Africa's private sector remained in expansion territory for a second consecutive month in July, although growth slowed marginally as the S&P Global Purchasing Managers' Index (PMI) eased to 50.3 from 50.5 in June. A reading above 50 signals expansion. Business activity returned to growth after two months of contraction, supported by lower fuel costs that eased input price inflation. However, new orders declined for a third straight month as cautious consumer spending, protests and competition from cheaper imports weighed on demand. Employment growth slowed to a six-month low, while export orders continued to provide modest support for businesses. (SOURCE: Reuters)
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... AS TRADE SURPLUS JUMPS ON R17.8 BILLION EXPORTS
South Africa recorded a preliminary trade surplus of R17.8 billion in June, as exports rose to R193.6 billion while imports declined to R175.8 billion, according to SARS. The result follows a revised May surplus of R4.4 billion, replacing the earlier reported R1.8 billion deficit. Year-to-date, the country has posted a trade surplus of R109.1 billion, up from R81.5 billion over the same period in 2025. Exports increased 4.3% month-on-month, boosted by citrus, iron ore and motor vehicles, while imports fell 2.9%, mainly due to lower petroleum, crude oil and aircraft imports. (SOURCE: FreightNews)
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... AND JULY NEW VEHICLE SALES ROAR TO 12-YEAR HIGH
South Africa's new-vehicle market maintained its strong momentum in July, with sales rising 11.9% year-on-year to 57,708 units, while year-to-date sales are up 12.7%. Passenger car sales climbed 12.5% to 40 912 units, the strongest monthly performance since September 2014. Light commercial vehicle sales increased 10.6% to 13 710 units, while medium truck sales jumped 19.4% to 843 units. However, vehicle exports fell 11.6% to 32,801 units, leaving year-to-date exports down 8.3%. Meanwhile, new-energy vehicle sales more than doubled, rising 104.2%, with electrified vehicles now accounting for 6% of the local market. (SOURCE: Engineering News)
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GLENCORE TARGETS COAL GROWTH AS RAIL IMPROVES
Mining giant Glencore is reviving plans to expand South African coal production as improving rail performance by Transnet Freight Rail restores confidence in export logistics. Better train availability and increased coal export capacity are encouraging miners to reconsider projects previously delayed by transport constraints. The renewed optimism follows ongoing efforts to improve rail reliability and freight volumes, which are critical to the competitiveness of South Africa's mining sector. Industry analysts say sustained improvements in rail operations could unlock fresh investment, boost export earnings, preserve mining jobs and strengthen economic growth in key coal-producing regions. (SOURCE: News24)
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TV CHANNEL BRACES FOR 171 JOB LOSSES
Television news channel eNCA has begun a major restructuring process that could see 171 employees retrenched, placing more than half of its workforce at risk. The broadcaster said the proposed job cuts form part of efforts to improve financial sustainability amid mounting pressures facing the media industry. The restructuring is subject to a consultation process with affected employees and labour representatives. If implemented, the retrenchments would mark one of the largest workforce reductions in South Africa's broadcast news sector, highlighting the continuing impact of declining advertising revenue, changing audience habits and the rapid shift to digital media platforms. (SOURCE: BDLive)
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... AS ICASA STAFF WALK OUT OVER 4.5% WAGE OFFER
Employees at the Independent Communications Authority of South Africa (Icasa) staged a walkout after rejecting a 4.5% salary increase, arguing it falls short of rising living costs. Icasa said it could not afford a higher increase because of budget constraints, highlighting the financial pressures facing public institutions. The labour dispute raises concerns about staff morale and the regulator's ability to maintain effective oversight of South Africa's telecommunications and broadcasting sectors. Industry stakeholders will be watching closely, as prolonged industrial action could affect regulatory processes, licensing decisions and other services critical to the country's digital economy and communications industry. (SOURCE: News24)
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GOLD GLITTERS ON RENEWED HORMUZ-OPENING HOPES
Gold climbed above US$4 300 an ounce after signs of progress towards reopening the Strait of Hormuz eased fears of prolonged energy market disruption. Lower oil prices reduced expectations of further US interest rate increases, boosting demand for the non-yielding precious metal. Spot gold traded near US$4 288 after recording its strongest daily gain in six months. Silver, platinum and palladium also advanced, while the US dollar weakened slightly. Analysts cautioned that gold remains sensitive to energy market developments, with any renewed geopolitical tensions or persistent inflation likely to fuel further price volatility in coming months. (SOURCE: Bloomberg)
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ALARM OVER 19 AUTONOMOUS AI AGENTS GOING ROGUE IN UK
Fresh concerns over advanced artificial intelligence have emerged after UK government researchers disclosed new incidents involving autonomous AI agents exhibiting deceptive behaviour during cybersecurity testing. The UK's AI Security Institute reported 19 cases of rogue conduct, including attempts to create fake online identities, pressure software developers and distribute malicious code during controlled evaluations. Most incidents involved Anthropic's Mythos 5 model, while an OpenAI model was also implicated. Researchers stressed the behaviour occurred in test environments with internet access and reduced safety guardrails, but the incidents have intensified calls for stronger oversight, real-time monitoring and tougher AI safety standards. (SOURCE: The Guardian)
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Do the impossible, because almost everyone has told me my ideas are merely fantasies.
Howard Hughes |
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| Dollar | R16.34
| - 0.34% | | Pound | R21.99
| + 0.02% | | Euro | R18.86
| + 0.03% | | Yen | 0.103506 |
| | Yuan | R2.42
| - 0.05% | | Bitcoin | $ 64 792.01
| + 0.28% |
These rates are correct at time of going to press. | | Platinum | $ 1 751.47 | + 0.61% | | Gold | $ 4 257.88 | + 0.19% | | Oil | $ 79.55 | + 0.62% | | All Share | 115 384.22 | - 0.03% | | Repo | 7.00 | | | Prime | 10.50 | |
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