| DEPUTY MINISTER’S FIRING CHALLENGES GNU’S HERD MENTALITY |
The parlous state of the Government of National Unity took a body blow after the unexpected firing of Deputy Minister of Trade and Industry Andrew Whitfield, a DA member, by President Cyril Ramaphosa yesterday. The dismissal of Whitfield - apparently for a visit to the US - comes shortly after the GNU’s first anniversary, sparking plenty of sturm und drang and a call for cool heads. |
| CROWDFUNDING CAMPAIGN TO BOOST FERNCLIFFE REHABILITATION |
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A porcupine snapped by a trail camera and FFW co-founder Janine Stephen next to a young fast-growing Real Yellowwood.
Local forest restoration NPC, Ferncliffe Forest Wilding (FFW), has launched a R500 000 crowdfunding appeal to save a 5-ha property next to Ferncliffe, rewild it, and conserve it long-term. The NPC will replace invasive plants with a diverse mix of over 50 indigenous tree species to boost biodiversity, including from cuckoos to porcupines. The property offers a secure base from which FFW will continue its current work on public land and in the reserve. Bonus is that few overheads are incurred to rehabilitate the area that benefits birders, learners, walkers, botanists and citizens, said FFW co-founder Connor Cullinan. Having raised almost R84 000, Cullinan said it needs just 1 000 people or businesses to donate R500 (or more, or less) to achieve the R500 000 target. “It’s an investment in the city and the future,” said Cullinan. Click here for the crowdfunding link |
| ESTCOURT INVESTORS IN A TIZZ ABOUT 'VANISHING' R200 MILLION |
| Worried investors in Estcourt, KwaZulu-Natal, are searching for Rookshana Khan, owner of Wood & Boon Insurance Brokers, and her daughter Rubina, amid claims that up to R200 million in investments may have vanished. Over 40 locals say their savings were never placed with registered institutions, despite Wood & Boon being listed with the FSCA. Complaints to police and the Fais Ombud have yielded no answers, with Khan reportedly hospitalized and under investigation. Investors remain in the dark. |
| SILENT AUCTION TO FLY A KITE AT KZN TECH EXPO |
Local companies looking for exposure at a premium regional audience stand a chance to claim a 3m x 3m exhibition stand (valued at R47 915) at the KZN Industrial Technology Exhibition (KITE) from 22–24 July 2025 at the Durban Exhibition Centre. Held in association with The Manufacturing Circle, KITE offers prime exposure to leaders in manufacturing, engineering, mining, and more in a silent auction. The reserve price is R10 000 and bidding closes at 6 pm, Monday, 30 June.
For a bid form, contact ronel@ronelwasserman.co.za or jo@manufacturingcircle.co.za. |
1961: Ghana imposed a ban on all exports to South Africa and South West Africa, as a protest against apartheid.
Elsewhere, in 1906, the first official Grand Prix was won by Ferenc Szisz in his Renault.
In the spirit of The Internationale, it’s Industrial Workers of the World Day. |
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CONSUMERS UNDER PRESSURE AS TAKE-HOME PAY DIPS
South Africans are feeling the squeeze as real take-home pay fell 1.1% in May - the third straight monthly decline, according to BankservAfrica. The average salary dropped to R14,832, down from R15,003 in April, reflecting the toll of weak economic growth and persistent global uncertainty. Despite a 5.8% year-on-year increase, household purchasing power is under strain. The figure remains well below the February 2021 post-Covid peak of R16,368. With faltering business confidence and delayed investment, 2025 is shaping up to be a volatile year for consumers, who are now bracing for tighter financial conditions.(SOURCE: Bloomberg)
… AS CONFIDENCE REBOUNDS IN Q2 2025
South African consumer confidence improved in Q2 2025, with First National Bank’s index rising from -20 to -10. The rebound was driven by early retirement withdrawals via the two-pot system, cheaper new cars, falling interest rates, and lower fuel prices. Despite this uptick, sentiment remains well below the long-term average of -1. FNB warns that rising inflation and slowing withdrawals may dampen real consumer spending heading into 2026. (SOURCE: Bloomberg)
BACK-TO-BACK PRIMARY BUDGET SURPLUS SIGNALS FISCAL DISCIPLINE
South Africa recorded its first consecutive primary budget surplus in 16 years, posting a R48.9 billion surplus (0.7% of GDP) for 2024/25, according to the Reserve Bank. This reflects improved tax revenue, which rose R83.4 billion to R1.8 trillion. While missing last year’s R61 billion target, the result signals fiscal discipline. Treasury expects the surplus to grow, with debt stabilising at 77.4% of GDP despite global trade tensions impacting growth. (SOURCE: Bloomberg)
EXPORT CONTROLS, ENERGY INCENTIVES TO SAVE FERROCHROME SECTOR
In a strategic push to revitalise South Africa’s declining ferrochrome industry, Cabinet has approved a dual-pronged policy of chrome ore export controls and domestic electricity incentives. The Department of Electricity and Energy has been tasked with finalising a government-industry agreement to provide discounted power tariffs - likely via negotiated pricing agreements (NPAs) similar to those used by aluminium smelters like South32’s Hillside. Simultaneously, chrome ore exporters will now require permits from ITAC, with an export tax under development to promote in-country beneficiation. These interventions form part of a broader revival plan, including infrastructure upgrades and legislative reforms, aimed at ensuring long-term industrial sustainability and competitiveness.(SOURCE: Engineering News)
6 500% ID VERIFICATION HIKE SPARKS FINTECH PUSH-BACK
South Africa’s crypto and fintech players have raised alarms over the Department of Home Affairs’ plan to hike ID verification fees from 15c to R10 - a 6,500% increase. Industry leaders say the fee spike will hit onboarding, stifle innovation, and hurt low-income customers. TymeBank, VALR, Luno, and others argue the added costs threaten financial inclusion. While Home Affairs defends the move as necessary for upgrades, critics call for transparent costing and collaborative, tech-driven solutions. (SOURCE: Moneyweb)
SOBER TIMES SEE WINE 2.6% DROP IN WINE CONSUMPTION
South Africa’s wine industry stumbled into 2025 with Q1 wine sales down 2.6% in value and nearly 5% in volume, according to Vinimark. Consumer confidence plunged to -20, reflecting deep financial caution. Shoppers are making more store visits but spending less, favouring budget wines under R50 and larger formats. Price hikes on popular bulk brands like 4th Street are pushing consumers out of the category entirely. Premiumisation persists only in limited segments. (SOURCE: Bizcommunity)
ROAD FREIGHT DOWN 8.3% AS RAIL FINDS FAVOUR
South Africa’s freight sector is undergoing a gradual shift, with rail beginning to recover while road freight declines, says economist Elize Kruger. Road freight, which peaked at nearly 90% of total freight in November 2022, dropped to 82.1% by early 2025. After growing 1.5% in 2023, road freight payload volumes have plunged 8.3% this year. Meanwhile, rail has shown tentative improvement, rising from a low of 10.9% in November 2023 to 17.9% in March 2025. Although still below the long-term 25.9% average, Kruger sees this as a positive sign amid decades of underinvestment in rail infrastructure. (SOURCE: FreightNews)
COURT UPHOLDS RAF HEAD HONCHO SUSPENSION
Road Accident Fund (RAF) CEO Collins Letsoalo has lost his urgent high court bid to overturn his suspension for insubordination. The Pretoria High Court found the RAF board’s June 3 decision to be lawful, rational, and reasonable. Letsoalo, suspended with full pay, had refused to appear before parliament’s Scopa. Judge Graham Moshoana ruled he failed to show any legal right to be reinstated or reappointed, calling his claims “baseless” and his expectations “implausible.” (SOURCE: Moneyweb)
3 000 NEW VEHICLES LOST AS FIRE-HIT SHIP SINKS
A cargo ship carrying around 3 000 new vehicles to Mexico sank in the North Pacific after a fire broke out on board in early June. The Morning Midas, operated by Zodiac Maritime, sank on June 24 in international waters off Alaska’s Aleutian Islands. All 22 crew members were safely rescued after evacuating to a lifeboat. The ship had been adrift and powerless since the fire, and worsening weather and water ingress contributed to its sinking in 5,000-metre-deep waters. Pollution monitoring and salvage operations are ongoing. The vessel was transporting electric, hybrid, and internal combustion engine vehicles from China to Mexico. (SOURCE: FreightNews)
GOLD SLIPS ON MIDEAST TRUCE, COPPER UP ON SUPPLY SQUEEZE
Gold headed for a second weekly loss, dropping 1.5% to $3,315/oz, as a ceasefire between Israel and Iran and renewed US-China trade optimism reduced demand for safe-haven assets. Bullion remains up over 25% this year, supported by central bank buying and hopes of Fed rate cuts. Silver was flat, while palladium surged 10% this week and platinum touched decade highs. Copper extended gains for a fifth session, rising 0.4% to $9,749/ton, driven by supply tightness outside the US and expectations of higher prices by August. Meanwhile, iron ore dipped 0.2% in Singapore to $92.55/ton amid softer Chinese steel futures.
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You can't base your life on other people's expectations.
Stevie Wonder |
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| Dollar | R17.78 | + 0.48% | | Pound | R24.44 | + 0.37% | | Euro | R20.82 | + 0.38% | | Yen | R123.54 | | | Repo | 7.25 |
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These rates are correct at time of going to press. | | Platinum | $ 1 383.90 | - 1.04% | | Gold | $ 3 287.79 | - 1.21% | | Oil | $ 67.21 | + 0.64% | | All Share | 95 808.22 | - 0.15% | | Prime | 10.75 | |
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