| 40% RETIREES BACK AT WORK TO KEEP HOME FIRES BURNING |
An FNB Retirement Insights Survey shows growing retirement awareness, with 73% of South Africans under 60 now having a retirement plan, up from 60% in 2025. However, rising living costs remain a major challenge, with 40% of retirees continuing to work or earn an income because savings are insufficient. Escalating food, electricity, healthcare and insurance costs are putting pressure on fixed incomes, while many retirees still support children and grandchildren financially. The survey highlights progress in retirement planning but warns that affordability pressures continue to threaten long-term financial security. |
| COFFEE AND COMMUNITY SPIRIT TO POWER MANDELA DAY PAINT-A-THON |
Coffee Box staffers are ready to serve paint-a-thon participants at today’s KPCA-marshalled Mandela Day activity to paint the Roberts Road bridge.
Volunteers involved in painting the Roberts Road Bridge today can look forward to a caffeine boost, courtesy of Coffee Box. As part of the KPCA Group's Mandela Day Paint-a-thon, every registered participant who makes a donation - large or small - at the Coffee Box trailer will receive a complimentary cup of coffee.
Registration and indemnity signing by participants for the 67-minute slots, from 9 am to 3 pm, take place at the Green KPCA Group Ellie Tent in Victoria Park, with access via Ormond Street. Participants are encouraged to wear team colours or bright outfits, bring their company flags and capture plenty of photos to share online. Sponsored paint will be supplied, while food, merchandise and fundraising activities will require cash.
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| COMRADES MEMBERS TO VOTE AFFILIATION FUTURE |
The Comrades Marathon Association (CMA) has confirmed that the 100th Comrades Marathon will be held on 13 June 2027, despite uncertainty over its affiliation with Athletics South Africa. Following discussions with ASA and KZN Athletics on 10 July, the CMA said no decisions had been taken and talks remain constructive. A Special General Meeting has been scheduled for 1 August 2026, when the association's 8 000 members will decide the way forward on governance and affiliation matters. Chair Mark Leathers said the runner-owned non-profit remains committed to strong governance, stakeholder cooperation and delivering a successful centenary race.
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1950: The SABC introduced its first national news service.
1959: Palaeontologist Mary Leakey discovered one of the oldest hominid skulls at Olduvai Gorge in Tanzania.
Today is observed as World Day for International Justice and World Emoji Day. |
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IT SECTOR OPTS FOR EXPERIENCE TO FILL 42% QUALIFICATION GAP
South Africa's technology sector faces a widening skills gap, with recruitment platform Pnet reporting that only 42% of applicants meet the qualifications required for most IT vacancies. The shortage of work-ready talent is hampering companies' ability to fill critical digital roles despite persistently high unemployment.
Employers are increasingly seeking candidates with practical experience in software development, cybersecurity, cloud computing, artificial intelligence and data analytics, but too few job seekers possess the necessary technical skills. The mismatch highlights the urgent need for closer collaboration between government, education providers and industry to align training with labour market demands. Expanding digital skills programmes, workplace internships and AI-focused learning initiatives could help bridge the gap while boosting employment and supporting South Africa's growing digital economy. (SOURCE: BDLive)
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R10.4 BILLION INVESTMENT PAVES WAY FOR 9TH GENERATION HILUX
Trade, Industry and Competition Minister Parks Tau has officially launched Toyota South Africa Motors' new R10.4 billion production line for the ninth-generation Hilux at its Prospecton plant in Durban. The investment, the largest single product investment in Toyota South Africa's history, follows the devastating 2022 KwaZulu-Natal floods and strengthens the country's role as a global automotive manufacturing hub. The project will boost local manufacturing capacity, enhance export competitiveness and support economic growth and job creation. Toyota's Prospecton facility also produces the Corolla Cross, Corolla Cross Hybrid and Hiace minibus taxis, reinforcing its long-term commitment to South African manufacturing. (SOURCE: Moneyweb)
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... AS CHERY TARGETS 40% LOCAL CONTENT IN TIGGO 4 RANGE
Chery South Africa will begin assembling the Tiggo 4 range at its Rosslyn plant in the second half of 2027, marking its transition from importer to local manufacturer. The company plans to produce 15 000 vehicles during the final two quarters of 2027, including petrol and hybrid models. Chery will retain all 692 employees at the plant and expects the project to create about 3 000 direct and indirect jobs. The automaker is targeting 40% local content by 2028 and is investigating the feasibility of adding a locally produced bakkie to the Rosslyn production line in future. (SOURCE: Engineering News)
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SPECIAL ZONES EYES R750 BILLION TO REVIVE MANUFACTURING
South Africa aims to attract R750 billion in investment into its Special Economic Zones (SEZs) during the current fiscal year to revive the country's manufacturing sector. The funding is expected from infrastructure projects, development finance institutions and commitments made at this year's investment conference, where investors pledged a record R890 billion. Manufacturing's contribution to GDP has declined from 24% in 1994 to 11%, prompting government to use SEZs to drive reindustrialisation. The country's 224 SEZ-based companies have already attracted R31.7 billion in investment and created more than 28,000 direct jobs, supporting industrial growth and exports. (SOURCE: Bloomberg)
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... AS STEEL IMPORT SAFEGUARD PROBE GETS UNDERWAY
South Africa has launched a safeguard investigation into rising steel imports following an application by ArcelorMittal South Africa, as government seeks to protect the struggling domestic steel industry. The probe will determine whether increased imports are causing serious injury to local producers and whether temporary safeguard measures, permitted under World Trade Organisation rules, are justified. The industry has come under mounting pressure from weak domestic demand, low-cost imports and global overcapacity, threatening jobs and investment. If approved, safeguard duties or quotas could provide temporary relief while manufacturers improve competitiveness and adapt to challenging market conditions. (SOURCE: BDLive) |
... AND 10% LEVY ON IMPORTED FROZEN VEGETABLES TO STAY
The International Trade Administration Commission (ITAC) has retained the 10% import duty on frozen mixed vegetables after completing a review of the tariff. The decision, approved by the Minister of Trade, Industry and Competition, follows a 2023 application by Nature's Garden to increase the duty to 37%, which was rejected. ITAC found that while global disruptions had increased food price volatility, a higher tariff could raise costs for consumers. The commission will continue monitoring imports, local production, employment and pricing. Government says the decision balances support for domestic agro-processing with consumer interests while providing greater policy certainty for investment, localisation and future export growth. (SOURCE: FreightNews)
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TOTALENERGIES FLIPS SWITCH ON SOLAR, BATTERY PROJECT
TotalEnergies has brought its 216MW Hydra Solar PV and 75MW/500MWh battery energy storage project in the Northern Cape into commercial operation. Developed with partners, the hybrid facility combines large-scale solar generation with battery storage to improve grid stability and deliver renewable electricity after sunset. The project forms part of the company's strategy to expand its renewable energy footprint in South Africa and support the country's energy transition. The 500MWh battery system can store surplus daytime solar power for use during peak demand, helping strengthen energy security, reduce carbon emissions and lessen reliance on fossil fuel-based electricity generation. (SOURCE: BDLive)
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MTN BEATS VODACOM, CELL IN MOBILE NETWORK SHOWDOWN
MTN has retained its position as South Africa's best mobile network in the second quarter of 2026, according to MyBroadband Insights' Mobile Network Quality Report. Based on more than 350 000 speed tests and 20 000km of drive testing, MTN achieved a network quality score of 9.96, with average download speeds of 91.11Mb/s, upload speeds of 32.46Mb/s and latency of 29ms. Cell C ranked second with a score of 7.70, followed by Vodacom (7.55), Telkom (6.05) and Rain (4.16). MTN also topped performance rankings across South Africa's major metropolitan areas. (SOURCE: ENgineering News)
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DE BEERS CALLS TIME ON VENETIA TO RESTORE DIAMOND GLITTER
De Beers will pause production for two years at its Venetia mine in Limpopo, South Africa's largest diamond producer, which accounts for more than 40% of the country's annual diamond output. The move is aimed at cutting costs and rephasing capital expenditure on the underground project as the global natural diamond market struggles against growing competition from lab-grown stones. Parent company Anglo American is also seeking to sell its 85% stake in De Beers. The National Union of Mineworkers has criticised the decision, warning that Section 189 retrenchment proceedings could place thousands of jobs at risk during the production suspension. (SOURCE: Bizcommunity)
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WOOLIES 'ROBOCHEF' TO SHED LIGHT ON 8 000 RECIPES
Woolworths is entering the artificial intelligence race with a new AI-powered recipe assistant featuring more than 8 000 recipes. The "robo-chef" is designed to help customers plan meals, discover recipes and make better use of ingredients while simplifying grocery shopping. By combining AI with Woolworths' extensive food range, the retailer aims to offer personalised meal suggestions and improve the customer experience. The move reflects the growing use of generative AI in retail, where companies are leveraging technology to enhance convenience, boost customer engagement and strengthen their competitive position in an increasingly digital marketplace. (SOURCE: BDLive) |
AFRICAN BANK MOOTS 1 200 JOB CUTS, 90 BRANCH CLOSURES
African Bank has begun consultations with labour unions over a restructuring plan that could result in 1 200 job losses and the closure of 90 branches nationwide. The proposed measures form part of efforts to reduce operating costs and improve the bank's long-term financial sustainability amid changing customer banking habits. Management says the process is still under consultation, with no final decisions taken. The planned branch closures reflect the growing shift towards digital banking services, while unions are expected to challenge the scale of the proposed retrenchments and seek alternatives to minimise job losses and protect affected employees. (SOURCE: BDLive)
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25% TARIFFS ON BRAZIL SIGNAL NEW US TRADE OFFENSIVE
The United States has reignited global trade tensions by imposing a 25% tariff on imports from Brazil, with similar measures expected against other trading partners. The move forms part of Washington's renewed push to protect domestic industries and address what it views as unfair trade practices. Economists warn the tariffs could disrupt global supply chains, raise import costs and invite retaliatory measures from affected countries. Brazil, a major exporter of steel, agricultural products and minerals, is expected to challenge the decision. The latest action adds fresh uncertainty to international trade and could weigh on global economic growth and investment. (SOURCE: Reuters)
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The way you discover your gifts is really by serving not by searching.
Loren Cunningham |
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| Dollar | R16.45 | - 0.27% | | Pound | R22.16 | - 0.46% | | Euro | R18.83 | - 0.54% | | Yen | 0.101386 |
| | Yuan | R2.43 | - 0.28% | | Bitcoin | $ 62 746.24
| - 2.08% |
These rates are correct at time of going to press. | | Platinum | $ 1 608.30 | - 1.28% | | Gold | $ 4 002.74
| - 0.59% | | Oil | $ 84.03 | - 0.92% | | All Share | 110 337.15
| + 0.04% | | Repo | 7.00 | | | Prime | 10.50 | |
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