| FALLING TREES, FAILING INFRASTRUCTURE HAUNT MSUNDUZI MUNICIPALITY |
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| Anecdotal reports about last week’s windy conditions that uprooted trees, disrupted electricity supplies and generally caused considerable damage are doing the rounds. Affected residents preparing damage claims are targeting the Msunduzi Municipality’s failures and will be keenly watching Toyota’s R6.2 billion claim for flood damage in 2022 against Transnet, eThekwini and the KZN government. At issue, in Pietermaritzburg and Durban, is the responsibility of mandated institutions to provide reliable services that may well pave the way for more litigation by companies at the mercy of failing infrastructure and poor maintenance. To bring things home, imagine the fall-out from fires sweeping through the city’s poorly maintained plantations that shows the incompetence of the municipality. |
| UNFANCIED BCOMM QUARTET TOO GOOD FOR ST CHARLES OLD BOYS |
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(ltr) Jaidyn Chetty (3rd year BComm), Dharian Mudaly (4th year BComm), Aaria Bhagwandeen (2nd year BComm) and Bhavan Singh (4th year BComm) attributed their victory to dedication and team work.
A quartet from Varsity College upstaged more fancied foursomes at the recent St Charles Golf Day at the Victoria Country Club to walk away with the spoils. The prize included braai hampers and Puma apparel at the event organised by St Charles old boys and supported with a host of sponsors. |
| MOBILE LIBRARIES PUTS DOWN MARKET IN LOW-LITERACY FIGHT |
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Ashburton Primary School, Ashdown Primary and Sinamuva Primary School are among a 1 000 primary schools benefiting from a joint campaign by Avbob and Oxford University Press South Africa to combat low literacy by distributing mobile libraries. The 2025 Road to Literacy campaign equips schools and NPOs with 500 culturally relevant books per trolley - totalling over 500 000 titles nationwide - aimed at improving foundational literacy and numeracy in all 11 official languages. Click here for the story and full list of schools. |
1988: PW Botha presided over the short-lived Constitutional Development Bill aimed at giving blacks a voice in government.
Elsewhere, in 1987, the first Rugby World Cup Final saw New Zealand defeat France 29–9 in Auckland.
It’s World Refugee Day today.
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CONCERN MOUNTING OVER R57 BILLION TWO-POT WITHDRAWALS
As South Africans juggle rising living costs and retirement planning, the two-pot retirement system presents a complex solution. Since its rollout in September 2024, nearly R57 billion has been withdrawn by members - many to meet daily needs - with SARS collecting R15 billion in taxes. While the system aims to balance short-term relief with long-term preservation, concerns over high taxation and repeat withdrawals persist. Awareness has grown significantly, but only 43% of fund members worry about long-term consequences.
Industry leaders warn that hasty withdrawals, especially amid retrenchments, risk undermining savings goals. Meanwhile, implementation costs have driven up employer fund fees, adding to the financial pressure on individuals and employers alike. The system’s sustainability remains under scrutiny. (SOURCE: Moneyweb) |
MAJOR BANKS WELL PROVISIONED FOR GLOBAL RISKS
South Africa’s financial sector faces rising risks from global geopolitical tensions and policy uncertainty, according to the South African Reserve Bank’s latest Financial Stability Review. The country remains vulnerable to external shocks, such as US tariffs under President Trump and Middle East conflicts, which have triggered oil price hikes and shaken investor confidence. These dynamics heighten the risk of capital outflows and could drive up government borrowing costs. The SARB also completed its first climate risk stress test of major banks, finding them generally resilient, though challenges remain in data and modelling. About 32% of their credit exposure was classified as climate-sensitive by end-2023. (SOURCE: Engineering News) |
NO INTEREST SHARI'AH OVERDRAFT SETS STANDARD BANK APART
Standard Bank, Africa’s largest lender, has introduced Southern Africa’s first Shari’ah-compliant overdraft facility, marking a major step in Islamic finance innovation. Structured under the Shari’ah principle of Wakaalah, the facility offers a non-interest alternative linked to a Shari’ah Business Current Account, providing pre-approved access to short-term funding. The product addresses a long-standing gap for businesses needing working capital while adhering to Islamic finance principles. Certified by the bank’s Shari’ah Advisory Committee, the overdraft is available to all clients, including non-Muslims, and supports Africa’s growing demand for ethical, asset-backed finance solutions in a region where Islamic finance remains underdeveloped despite high potential. (SOURCE: Engineering News) |
… AS SYGNIA PIONEERS BITCOIN-LINKED OFFERING
Sygnia has launched South Africa’s first regulated bitcoin-linked investment product, the Sygnia Life Bitcoin Plus Fund, offering local investors access to cryptocurrency via the US-listed iShares Bitcoin Trust ETF (IBIT). Effective from 1 June, the fund tracks bitcoin’s price movements and enhances returns using derivatives and local money market exposure. With bitcoin up 54% in rand terms over the past year, the fund offers a high-risk, high-reward diversification tool. It's not Regulation 28 compliant and is available via living annuities and investment policies. Sygnia, managing R405.6 billion in assets, developed the fund after past JSE attempts to launch a crypto ETF failed. (SOURCE: Moneyweb) |
… AND FSCA WARNS AGAINST DODGY LEARNON COMPENTENCY CERTIFICATES
The Financial Sector Conduct Authority (FSCA) has warned South African financial institutions to verify their Continuous Professional Development (CPD) providers after discovering that LearnOn issued unauthorised certificates using the Financial Planning Institute’s (FPI) logo and invalid reference numbers. CPD is a regulatory requirement under the FAIS Act to ensure competence in the financial services sector. The FSCA cautioned that failure to verify accreditation could leave institutions non-compliant. LearnOn advertises CPD packages for R395, claiming to assist with competency requirements. Despite attempts, the FSCA has been unable to contact LearnOn. Institutions are urged to confirm providers’ legitimacy before engaging in CPD agreements. (SOURCE: Moneyweb) |
TOYOTA, FORD DRIVE USED CAR MARKET TO 21.1% GROWTH
South Africa’s used car market surged in May 2025, with sales reaching R13.65 billion, a 21.1% year-on-year increase, driven by improved stock and more trading days. 31,741 vehicles were sold, with the average price climbing to R428,627. The Ford Ranger remained the top-seller, while the Toyota Corolla Cross and Suzuki Swift gained ground. Toyota led the brand rankings, followed by Volkswagen and Ford. Crossovers and hatchbacks saw rising demand, while luxury sedans like the Mercedes-Benz C-Class declined. Notably, Toyota, VW, and Ford showed strong monthly growth, reflecting consumers’ preference for reliable, value-driven vehicles. The VW Polo Vivo 1.4 was the most popular variant sold. (SOURCE: Bizcommunity) |
AIRLINK REACHES FOR THE SKY WITH 10 NEW PLANES
Airlink is set to expand and modernise its fleet by leasing 10 new Embraer E195-E2 jets from US-based Azorra. Deliveries will begin later this year and continue through 2027. The next-generation aircraft, offering up to 29% fuel savings compared to older models, will enhance Airlink’s efficiency, capacity, and environmental performance. Each plane will seat up to 136 passengers and support network expansion with longer range. Airlink, a long-time Embraer operator, currently flies to 45 destinations across 15 countries. The deal reflects growing confidence in the E2 aircraft across Africa and maintains Airlink’s competitive edge on key regional routes. (SOURCE: Engineering News) |
UK COMMITS R121 BILLION TO AFRICA-LED GREEN ENERGY REVOLUTION
The UK is ramping up green energy investment in Africa, emphasising partnerships that support African-led transitions to renewables. Speaking at the Africa Energy Forum in Cape Town, UK trade official Hannah Williams said UK Export Finance has £5 billion (about R 121 billion) available to support clean energy projects deemed too risky for commercial lenders. The UK government is actively connecting its supply chains with African opportunities, offering strengths in green finance, engineering, legal services, and technologies like wind, solar, battery storage, hydrogen, and e-mobility. The UK’s strong presence at the forum underscores its commitment to powering Africa’s sustainable energy future through collaborative, long-term investment. (SOURCE: Engineering News) |
… AS CONTINENTAL FDI SOARS TO R1.75 TRILLION IN 2024
Foreign direct investment (FDI) into Africa surged by 75% in 2024 to $97 billion (about R1.75 trillion), marking a strong rebound and lifting the continent’s share of global FDI to 6%, up from 4% the previous year, according to UNCTAD’s latest World Investment Report. Excluding a large urban development deal in Egypt, FDI still rose 12% to $62 billion. Europe remains Africa’s biggest investor, followed by the US and China, whose $42 billion in investments increasingly target pharmaceuticals and food processing. One-third of Belt and Road Initiative projects focused on social infrastructure and renewables. Africa’s investment policy mix remained liberalised, with facilitation measures making up 36% of reforms. (SOURCE: Engineering News) |
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The secret of change is to focus all of your energy not on fighting the old, but on building the new.
Socrates |
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| Dollar | R18.03 | + 0.19% | | Pound | R24.29 | + 0.05% | | Euro | R20.77 | - 0.08% | | Yen | 0.124247 | | | Repo | 7.25 |
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These rates are correct at time of going to press. | | Platinum | $ 1 275.90
| - 1.85% | | Gold | $ 3 344.28 | - 0.76% | | Oil | $ 76.69 | - 0.67% | | All Share | 94 915.22
| - 0.08% | | Prime | 10.75 | |
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