| CALLING ALL MEN TO THE (PANTS ON) GATHERING OVER LUNCH |
The Pietermaritzburg and Midlands Chamber of Business is giving the ladies a break - and the men the spotlight - for the tongue-in-cheek Wear the Pants Chamber Lunch tomorrow, 20 August, After the Women in Business shindig recently, it's time to celebrate the chaps who champion equality and reminding everyone that men deserve lunch too. Dress accordingly, bring your business card for a chance to become the next speaker, and enjoy a bottle of Minnie’s delicious sauce. Come hungry, come smartly trousered, and definitely come prepared for some good-natured fun! Contact Thabisile on (033) 345 2747 or at info@pmcb.org.za.
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| WOMEN ENTREPRENEURS SIGNING UP FOR FUNDING OPPORTUNITIES |
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(ltr) Kindle Kisten (Director at Kist Multi Trading), Nomtha Sikhosana (Development Practitioner at BESGDS) and UTVET lecturer Siphesihle Ngcobo.
The Women in Entrepreneurship series got off to a rip-roaring start at the Pietermaritzburg and Midlands Chamber of Business Trade Hub with a Fund Her Future session, a workshop on funding access for women-owned businesses from start-ups to medium-sized enterprises, across every sector. The diverse attendees included lecturers from the Umgungundlovu TVET College who will be taking the information back to their students looking to become entrepreneurs.
Facilitated by Trade Hub Manager Lucrisha Polton, the session covered funding readiness, compliance requirements and included a live walkthrough of FinFind, which connects businesses to a national network of more than 300 funders and 600 finance products. Several participants registered on the platform immediately. The enthusiastic turnout underlined the region’s appetite for practical entrepreneurial support, with Fund Her Future set to return, said Polton.
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| SHARKS BRING CURRIE CUP ACTION TO WOODBURN |
Rugby fever returns to Pietermaritzburg on Friday, 21 August, when the Hollywoodbets Sharks XV face the Fidelity ADT Lions under lights at Woodburn Stadium. One ticket at R70 also covers the curtain-raiser when the young Sharks GEN side clashes with the Toyota Cheetahs U20 at 4 pm. Fans are advised to bring friends, family and plenty of noise!
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1944: The SA 6th Division entered Florence in World War II.
Elsewhere, in 1934, almost 90% of German voters approved a referendum that made Adolf Hitler Führer und Reichskanzler (leader and chancellor).
Today is good to parade your favourite snaps, on World Photo Day, also known as Photo Day or World Photography Day. It’s also World Humanitarian Day. |
UNBUNDLED TARIFFS, NEGOTIATED PRICING MARK ELECTRICITY RESET
South Africa has proposed its biggest electricity-pricing overhaul in almost two decades, introducing a 10-year price forecast, unbundled tariffs and broader negotiated pricing agreements. Electricity Minister Kgosientsho Ramokgopa said the reforms would align tariffs with a changing market as competition and private power supply increase.
The current pricing policy dates to 2008, while electricity shortages constrained economic growth for more than 15 years. Nersa approved an 8.8% tariff increase for Eskom direct customers in July and an average 9% increase for municipal customers. The proposed framework would separate generation, transmission, distribution and retail charges. It also provides for 200-300kWh of free basic energy monthly per household and transparent network charges. The proposals will be gazetted for public comment on August 21. (SOURCE: Bloomberg)
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... AS SOLAR SECTOR APPLAUDS SMALL-SCALE SYSTEM U-TURN
The South African Photovoltaic Industry Association (SAPVIA) has welcomed Eskom’s decision not to fine or disconnect residential customers who failed to register small-scale solar systems by the September 30 deadline. Eskom and some municipalities had previously threatened fines of up to R30 000. SAPVIA technical and policy manager Sim Khuluse said registration was necessary for grid safety, but should be based on cooperation rather than punitive measures. Installations up to 100kW must comply with regulations, connect at approved points and be registered with distributors. SAPVIA also stressed the importance of valid electrical compliance certificates. South Africa now has more than 11.8GW of installed solar capacity, making it Africa’s leading solar market. (SOURCE: Engineering News)
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AGOA EXTENSION OFFERS RELIEF, BUT NOT VEHICLE-EXPORT BARS
The extension of the African Growth and Opportunity Act (Agoa) to December 31, 2028, gives South Africa’s automotive industry valuable breathing room, but does not resolve major trade barriers, says naamsa. The industry body says the 25% US Section 232 tariff on vehicles and components effectively cancels Agoa’s preferential benefits. South African vehicle exports to the US plunged 83.2%, from 24 682 units in 2024 to 4 136 in 2025. The US was a major export destination for the local industry, which contributed 23.8% of manufacturing output in 2025. Naamsa says securing commercially competitive US market access remains critical for investment, jobs, production and future export growth. The Agoa extension still requires the US president’s signature. (SOURCE: Engineering News)
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SIU REFERRALS NO GUARANTEE OF PROSECUTION AS 5 944 CASES WEIGH
The NPA said referrals do not automatically translate into criminal cases, as prosecutors must assess evidence, jurisdiction and whether there is a reasonable prospect of securing a conviction. This explains why only a fraction of 5 944 cases referred by the Special Investigating Unit have resulted in criminal prosecutions. The National Prosecuting Authority says some matters require further investigation or additional evidence before charges can be pursued. The issue has come under scrutiny in Parliament, amid growing pressure for stronger action against corruption and maladministration. NPA national director of public prosecutions Andy Mothibi has faced questions over the institution’s ability to convert investigations into prosecutions and successful convictions. The disparity between referrals and prosecutions has raised concerns about accountability and the effectiveness of the country’s anti-corruption machinery. (SOURCE: BDLive)
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... AS PUBLIC PROTECTOR LAYS INTO NSFAS OVER GOVERNANCE FAILS
Public Protector Kholeka Gcaleka has launched a scathing attack on the National Student Financial Aid Scheme (NSFAS), accusing it of weak governance and failing students who depend on financial support. Gcaleka also criticised higher education minister Buti Manamela and his predecessors over the ongoing funding crisis. She called for urgent action to address problems with the funding model and improve service standards. The intervention comes amid growing frustration among students over funding decisions, delays and administrative failures. NSFAS has faced mounting scrutiny over its management and governance, while government grapples with reforms aimed at creating a more reliable and sustainable student funding system. (SOURCE: BDLive)
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... AND NENE IS RAMAPPHOSA'S PICK TO LEAD FISCAL BODY
President Cyril Ramaphosa has appointed former finance minister Nhlanhla Nene to lead the crisis-ridden fiscal body, bringing an experienced hand back into a key economic oversight role. Nene, who previously served as finance minister, faces the task of helping restore stability and credibility amid mounting concerns over public finances. His appointment comes as government grapples with weak economic growth, rising debt pressures and persistent fiscal constraints. Nene’s experience in Treasury and government is expected to strengthen the institution’s leadership and oversight. The move signals Ramaphosa’s intention to draw on established economic expertise as South Africa confronts difficult choices over spending, revenue and debt. Nene’s return to a prominent fiscal role is likely to attract close attention from markets and policymakers. (SOURCE: News24)
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RCL FOODS FLAGS 30% EARNINGS HIT ON CHEAP SUAGR, PET PROBLEMS
JSE-listed RCL Foods expects headline earnings per share to fall 30%-35% for the year to June 2026, reflecting pressure on its sugar and pet food businesses. Sugar earnings were hit by imports, weak tariff protection, lower global prices and a stronger rand. Pet food volumes dropped 20.5% following food-safety-related production disruptions. A 20.3c-per-share impairment linked to Sunshine also weighed on earnings. Full results are due on August 31. (SOURCE: SENS)
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ABSA TARGETS ANGOLA AND NIGERIA FOR AFRICAN EXPANSION
Absa is preparing to expand its African footprint, with plans to establish a representative office in Angola and pursue a banking licence in Nigeria. CEO Kenny Fihla says the strategy is aimed at diversifying the group’s geographic risk and income streams. Angola, Africa’s third-largest oil producer, would mark Absa’s return to the market almost two decades after its exit. Nigeria, meanwhile, offers access to one of the continent’s largest and most dynamic banking markets. The moves form part of Fihla’s broader strategy to strengthen Absa’s position beyond South Africa, while reducing reliance on a single market and creating additional opportunities for growth across key African economies. (SOURCE: BDLive)
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SADC LEADERS BACK SOUTH AFRICA MIGRATION TALKS
Southern African Development Community (SADC) leaders have backed South Africa’s call for regional talks on migration, following anti-immigrant protests and growing tensions over undocumented migrants. The support came at the 46th SADC Heads of State and Government Summit in Durban, where President Cyril Ramaphosa was elected chair of the 16-member bloc. Leaders agreed that migration requires a coordinated regional response rather than unilateral action by individual countries. South Africa has faced increasing pressure over immigration, including calls for deportations and protests targeting foreign nationals. The discussions highlighted the need for countries to work together on migration management, border controls and economic opportunities. Ramaphosa has urged greater regional unity, saying cooperation is essential to addressing shared challenges while protecting the rights of migrants. (SOURCE: BDLive)
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NORWEGIAN OIL GIANT JOINS NAMIBIAN OFFSHORE SCRAMBLE
Norway’s state-controlled oil giant Equinor is joining the hunt for offshore oil in Namibia, strengthening international interest in the country’s emerging petroleum industry. Equinor has agreed to acquire a 40% interest in an offshore exploration licence from Chevron, subject to regulatory approval. The deal adds another major global energy player to Namibia’s growing oil sector, following significant discoveries by companies including TotalEnergies and Shell. Namibia has attracted billions of dollars in exploration investment as companies assess the potential of its offshore basins. The latest partnership underscores rising confidence in Namibia’s hydrocarbon prospects and could accelerate exploration activity and future development. (SOURCE: Bloomberg)
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META STARES DOWN R23 BILLION CHILD SAFETY SUIT
Meta faces a potentially massive legal setback as opening arguments begin in a multistate US trial accusing the social media giant of harming children while promoting its platforms as safe. California, Colorado, Kentucky and New Jersey allege Meta violated consumer protection laws, including children’s privacy, false advertising and unfair competition rules. The states claim the company deliberately designed products to be addictive, damaging children’s mental and physical health, while collecting data from under-13s without parental consent. Meta could face penalties of up to $1.4 trillion (about R23 billion) and be forced to redesign products. The company has already lost two similar cases this year. (Source: 1440)
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OIL RISES AS US IRAN STALEMATE DEEPENS SUPPLY FEARS
Oil prices rose for a fourth consecutive day as the US-Iran conflict showed no signs of easing, keeping the strategically vital Strait of Hormuz under pressure. Brent crude climbed 0.7% to $91.61 a barrel, while West Texas Intermediate gained 0.7% to $85.55. Brent has risen 4.5% over the past three sessions as fears grow over disrupted supplies from the Middle East. US President Donald Trump said no talks were under way with Tehran, while Washington plans further economic pressure on Iran. The UAE also suspended trade and financial transactions with Tehran. Tight diesel supplies are adding to pressure, with US diesel refining margins exceeding $100 a barrel. Rising energy costs threaten renewed inflationary pressure globally. (SOURCE: Bloomberg)
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Curiosity is the wick in the candle of learning.
William Arthur Ward |
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| Dollar | R16.26 | + 0.02% | | Pound | R22.02
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These rates are correct at time of going to press. | | Platinum | $ 1 718.70
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