| FIRST RETIRE WELL, THEN WORRY ABOUT YOUR HEIRS' FUTURE |
Want a steady retirement income and an inheritance for your child? An experienced fiancial advisor weighs four routes for a 65-year-old with R5 million: a living annuity, a guaranteed life annuity, a hybrid of both, and a capital-preservation annuity that pairs guaranteed income with life cover. His advice - start with the income you actually need, secure your retirement first, then plan the inheritance. |
| TRADE HUB HELPS ENTREPRENEURS SHARPEN COMPETITIVE EDGE |
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Attendees scrutinising the business plans of their companies to ensure these documents remain relevant in an evolving business environment.
The Trade Hub, located at the Pietermaritzburg and Midlands Chamber of Business, is pushing businesses to compete harder as a recent Business Plan Review workshop. Many owners file their business plans away once funding is secured or the doors open. The session urged entrepreneurs to dust off those plans and treat them as living documents that track shifting markets, customer needs and strategic goals.
Through practical exercises, participants spotted outdated assumptions, uncovered gaps, realigned strategies with current objectives and strengthened their plans as tools for informed decision-making. They were urged to review plans at least annually, or after major changes. The workshop is one example of the Trade Hub's ongoing support programme, which equips entrepreneurs with the knowledge, tools and backing to build resilient, competitive enterprises.
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| BOND OVER LEATHER, CREATE YOUR OWN ARMBAND TOGETHER |
Bring your team to Criss Cross Leather Collective's armband workshop on 7 October, hosted by the Trade Hub at the Pietermaritzburg and Midlands Chamber of Business. Attendees will cut, emboss and snap together bold leopard, zebra or floral designs, swapping ideas and lending a hand along the way, building team spirit. No experience needed; all leather, tools and guidance are provided. Seats are limited at R175 each, so book early. Contact trademanager@pmcb.org.za.
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1960: The white electorate voted in a referendum to decide if South Africa should become a republic.
Elsewhere, in 2000, president Slobodan Milosevic was overthrown in the former Federal Republic of Yugoslavia.
Feel free to flash a smile today on World Smile Day.
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DOUBTS OVER GOVERNMENT PLANS TO CHANGE RAF FUEL LEVY
The government is considering cutting or scrapping the R2.27-a-litre Road Accident Fund (RAF) fuel levy as it searches for a more sustainable funding model. Deputy Transport Minister Mkhuleko Hlengwa favours a hybrid approach, combining a reduced levy with alternative revenue sources including third-party vehicle insurance and compulsory travel insurance for foreign visitors.
The department is also considering the Road Accident Benefit Scheme Bill, which would introduce defined benefits for accident victims. But Organisation Undoing Tax Abuse CEO Wayne Duvenage argues the levy is not the problem, blaming RAF mismanagement and excessive costs. He says third-party insurance would be costly and repeat past failures, while better management, tighter claims controls and benefit caps could substantially reduce the RAF's costs. (SOURCE: Moneyweb) |
NEW VEHICLE SALES RISE 12.7% AS EXPORTS HIT POTHOLES
South Africa’s new-vehicle market strengthened in September, with sales rising 12.7% year-on-year to 61 645 units, despite household affordability pressures. Passenger car sales increased 14.7% to 44,291, while light commercial vehicles rose 9.6% to 14,361. The domestic market ended Q3 2026 strongly, with sales up 12% year on year. But exports plunged 18.8%, highlighting continued weakness in international demand. Industry officials say vehicle demand remains resilient, although higher borrowing and fuel costs could affect future sales. New-energy vehicles are gaining momentum, with hybrid, plug-in hybrid and electric-vehicle sales already surpassing last year’s total during the first eight months of 2026. (SOURCE: Engineering News)
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... AS FUEL ECONOMY RANKS SECOND BEHIND PRICE
South African car buyers now rank fuel efficiency second only to price, with more than half putting fuel economy ahead of brand tradition or resale value. A recent 2026 Motor Industry Report, built on a survey of over 2 000 shoppers, found 70.8% prioritise price and 52.5% fuel efficiency. The shift follows a Middle East-driven oil shock that pushed petrol and diesel prices sharply higher, and TransUnion says affordability is no longer judged by purchase price alone. Chinese brands, which grew sales 72% in the second quarter, are gaining as buyers focus squarely on value. Hybrids are emerging as a practical bridge. (SOURCE: Cars.co.za)
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CREECY TAKES AIM AT OPERATOR OVER DURBAN PORT DELAYS
Transport Minister Barbara Creecy has pressed International Container Terminal Services Inc (ICTSI) to address worsening delays at Durban’s Gateway Terminal, where average vessel waiting times have nearly doubled to almost six days. Creecy attributed the disruption largely to implementation of a new Navis terminal operating system and delays refurbishing or replacing loading equipment. She described the problems as possible “teething issues” but urged ICTSI to improve communication with customers. The delays have prompted ships to bypass Durban, disrupting other South African ports. ICTSI plans to invest R737 million upgrading the terminal, increasing capacity by 40% to 2.8 million containers by 2030, supporting Transnet’s broader public-private partnership strategy. (SOURCE: Moneyweb) |
... AS PORT, RAIL SHORTCOMINGS THREATEN MANGANESE EXPORT
South Africa risks losing significant manganese value if rail and port constraints persist, with mines located about 1 000 km from export terminals. The Manganese Producers Consortium, representing 60% of manganese ore exports, supports a long-term “12x12” strategy, splitting 24-million tonnes of annual rail capacity between Saldanha Bay and Gqeberha. Alternative routes, including Namibia’s Lüderitz, are providing a temporary bridge while the main corridors recover. Jupiter Mines exported 828 000 tonnes through Lüderitz in FY26. The MPC says rail and ports must be treated as integrated mine-to-market systems. Logistics can account for roughly a third of manganese costs, making reliable, competitive transport crucial to exports, jobs, investment and sector growth. (SOURCE: Engineering News)
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MOVES UNDERWAY TO BAN CASH SALES FOR SCRAP METAL
South Africa is moving to ban cash payments in scrap-metal sales, with proposed amendments forcing dealers to transact electronically. Government estimates put the annual cost of metal theft, mostly copper stripped from rail lines and power grids, at more than R45 billion. Officials argue cash makes stolen metal hard to trace and fuels syndicates exporting it. The plan would require registered sellers and buyers, so purchases can be checked against electronic payment records. Industry body Seifsa warned in 2024 that a blanket cash ban could devastate roughly 350 000 waste pickers, whose viability it threatens. Earlier 2024 drafts drew similar objections. (SOURCE: BDLive)
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R14 MILLION INVESTMENT TO BOOST LIVESTOCK SURVEILLANCE
The Technology Innovation Agency (TIA) has invested R14 million in TokaBio to strengthen South Africa’s ability to detect and respond rapidly to livestock diseases, including foot-and-mouth disease and avian influenza. The Molecular Rapid Response and Bio-surveillance Programme aims to improve surveillance, contain outbreaks and protect agricultural exports. TokaBio operates an avian-influenza surveillance laboratory in Limpopo and a KwaZulu-Natal laboratory supporting national foot-and-mouth monitoring. The initiative is intended to reduce prolonged export restrictions and protect farmers, jobs and rural economies. TIA says commercialising biotechnology solutions can strengthen agricultural resilience, food security and South Africa’s competitiveness in global markets, while supporting broader technology-driven disease management across the continent. (SOURCE: Engineering News)
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ZIMBABWE SCRAPS FOOD IMPORT DUTIES TO CUSHION PRICES
Zimbabwe plans to scrap import duties on food as the government prepares for potential crop shortages linked to El Niño. Finance Minister Mthuli Ncube said the measure forms part of a six- or seven-pillar strategy to protect consumers from rising living costs. The package also aims to limit the impact of higher food and fuel prices driven by conflicts in the Middle East and Ukraine. Zimbabwe is preparing for possible supply pressures while maintaining a 5% economic growth forecast for 2027. The duty changes are intended to help contain food prices and improve access to supplies should domestic production fall short. The government says further measures will support the economy through the climate-related shock. (SOURCE: Bloomberg)
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DANGOTE IPO BLITZ TARGETS 10 MILLION RETAIL INVESTORS
Africa’s richest man, Aliko Dangote, is targeting 10 million investors in a marketing drive for his refinery’s initial public offering, which closes on October 13. The share sale aims to raise $1.6 billion (about R27 billion), mainly from retail investors, to help double refining capacity to 1.4 million barrels a day by 2029. Regulatory approval could allow the offer to raise as much as $2.1 billion. Dangote is pitching the IPO as an “offer for the people”, with a minimum investment of about $4. More than 50 investment platforms are participating, although some initially crashed under demand. The refinery is valued at about $49 billion and is expected to list in November. (SOURCE: Bloomberg)
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AI MAY FORCE 11 MILLION AMERICAN WORKERS INTO NEW OCCUPATIONS
Artificial intelligence could force about 11 million US workers, or 7% of the workforce, to change occupations by 2035, according to McKinsey & Co. This means moving into different types of work, rather than simply losing 11 million jobs. The number of workers changing occupations annually could triple from about 215 000 historically. Six in seven affected workers may require substantial retraining, while lower-income employees could be almost eight times more likely than higher earners to face displacement. Office administration, retail, sales and transport are among the most exposed areas. McKinsey estimates six million to 16 million workers could need occupational changes, depending on AI adoption and wider labour trends. (SOURCE: Bloomberg)
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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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