| FORD IN URGENT SAFETY RECALL OF 21 736 VEHICLES |
Ford Motor Company of Southern Africa (FMCSA) is recalling 21 736 vehicles, including Ranger, Everest, Puma, and EcoSport models built between 2021–2025. Key issues involve a potential camshaft sprocket fracture in Rangers and Everests (June 2022–March 2025), and infotainment system freezes affecting rear-view cameras. Repairs will be provided free of charge once the software remedy is available in Q3 2025. Owners should check their VIN at www.ford.co.za/owner/recalls and schedule service with their dealer. Queries can also be directed to FMCSA at 0860 011 022 and (012) 843 5824 or at CRC3@ford.com. |
| FAST-TRACKING CERTIFICATES OF ORIGIN IS WORTH CROWING ABOUT |
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Global Maritime Legal Solutions MD Elwyn Pitt and PMCB CEO Melanie Veness with the award.
The latest recipient of a coveted ChamberRoosta, Global Maritime Legal Solutions (GMLS), was recognised for its donation of a laptop to the Pietermaritzburg and Midlands Chamber of Business, specifically for the purpose of issuing Certificates of Origin.
“Being able to issue these documents speedily and from anywhere, makes a huge difference to export processes,” said PMCB CEO Melanie Veness.
The award, sponsored by XTEC, also pays homage to GMLS’ role in fostering international trade compliance, customs solutions, and global best practice training. With a customer base that incorporates small businesses, multinational corporations and governmental authorities, GMLS has built a reputation for providing superior skills development, academic training, mentoring, consulting, specialised clearing and forwarding services. Their approach ensures that businesses and governments are equipped to navigate the increasingly complex world of international trade with confidence and ease.
Through partnerships and collaborations with major international trade authorities, GMLS provides clients with direct access to global standards and compliance frameworks, enabling them to compete effectively in the international supply chain. |
| MORE MID-LIFE WOMEN TAPPING INTO THEIR ENTREPRENEURIAL MOJO |
| South African women over 40 are defying old stereotypes by becoming dynamic entrepreneurs. Harnessing their experience and insight, mid-life women are transforming side hustles into thriving businesses. Research shows nearly 28% of women entrepreneurs are aged 45-64, with 57% of women identifying as entrepreneurs overall. This new wave, led by Gen X women, is reshaping the entrepreneurial landscape and proving that mid-life is a powerful time to take charge and innovate. |
1983: The United Democratic Front (UDF) was launched.
Elsewhere, in 1866, the American Civil War was declared over.
Here’s to International Hawaiian Pizza Day!
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ESKOM OFFERS FIRST DIRECT SOLAR POWER SALES TO BUSINESS
Eskom has unveiled a landmark renewable energy programme, giving large businesses their first opportunity to purchase solar power directly from the utility. The initiative, announced on August 19, offers 291MW of capacity through long-term power purchase agreements (PPAs) from Eskom’s solar sites. Designed to help companies cut carbon emissions and secure reliable green energy, the programme marks a pivotal shift in the country’s energy landscape.
For South Africa’s largest power users, this opens the door to greater energy independence, sustainability, and cost predictability. Eskom’s move also signals progress towards diversifying the national grid, while demonstrating its willingness to adapt traditional supply models to meet urgent climate and business needs. (SOURCE: BDLive)
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CONCOURT TO HEAR DECADE-LONG RAND-RIGGING CASE
The Constitutional Court is set to hear an appeal by the Competition Commission regarding a decade-long Rand-rigging case. In January 2024, the Competition Appeal Court dismissed charges against 23 of 28 banks accused of colluding to manipulate the Rand-Dollar exchange rate between 2007 and 2013. The Commission argues that the CAC's decision was flawed and seeks to reinstate the case against the dismissed banks. Advocate Tembeka Ngcukaitobi, representing the Commission, emphasized the complexity of modern cartels and the necessity of prosecuting such cases to maintain market integrity. The hearings are scheduled from August 19 to 22, 2025. (SOURCE: News24) |
MINISTER INTERVENES IN 3 FAILED SETAS
Higher Education Minister Buti Manamela has placed the Local Government, Construction, and Services SETAs under administration for 12 months following entrenched governance failures - including procurement irregularities, board instability, and corruption - that undermined their skills-development mandate. The move aims to restore financial and operational integrity. Appointed administrators now have a clear mandate to enforce accountability, stabilize governance, and ensure learners and workers are not prejudiced by institutional weaknesses. They must submit monthly progress reports and support the appointment of new accounting authorities. This decisive intervention seeks to rebuild public confidence in South Africa’s vital training authorities and strengthen their role in combating unemployment and inequality. (SOURCE: BDLive) |
NUMSA, MOTOR INDUSTRY CLOSE TO WAGE DEAL
A pay agreement between Numsa and South Africa’s motor industry employers is expected to be finalised this weekend, according to the Retail Motor Industry Organisation. While negotiations are nearing conclusion, the specific wage increase figures have not been publicly released. Previously, Numsa pushed for a 10% across-the-board raise during initial talks in April, but it remains unclear whether this demand will feature in the final deal. Both parties remain engaged and optimistic about reaching a resolution soon, with the anticipated agreement set to stabilise wages and operations within the sector. (SOURCE: BDlive) |
EX-LOTTERY BOARD MEMBER TO PAY BACK R21 MILLION
The Special Tribunal has ruled that former National Lotteries Commission board member William Huma must repay over R21 million in grants misappropriated through two non-profits, Samaritan Initiative (R16.5 million) and Reagile NPC (R4.7 million). Intended for community upliftment, women and children’s empowerment, and rural job creation, the funds were diverted to Huma’s personal projects, including a farm and luxury property. The Special Investigating Unit (SIU) can now launch execution proceedings to recover the money. Judge Margaret Victor condemned Huma’s conduct as dishonest and unlawful, ordering punitive costs. The SIU also preserved additional properties linked to NLC funds for auction to restore community support projects. |
AFRICAN UNIVERSITIES URGED TO LEAD CLIMATE CHANGE RESEARCH
African universities must play a central role in tackling climate change, said Science and Innovation Minister Blade Nzimande at the ICEES 2025 conference. He called for historically disadvantaged institutions to become producers, not just consumers, of knowledge. Nzimande highlighted Africa’s severe vulnerabilities, with climate change already costing up to 5% of GDP and threatening 118 million poor people with floods, droughts, and extreme heat. Stressing a sovereign African research agenda, he outlined initiatives such as SAEON, ACCESS, and the Research Infrastructure Roadmap. He urged youth involvement, warning that without coordinated action, environmental and livelihood crises will devastate future generations. (SOURCE: Moneyweb) |
... AS BANKS TIGHTEN LENDING IN FACE OF EXTREME WEATHER RISKS
A South African Reserve Bank study reveals that local banks have curtailed lending due to heightened default risks from extreme weather events. Examining 38 banks from 2009 to 2024, the report shows credit growth slowed after floods, droughts, and the 2019 carbon tax introduction. Major banks, including Standard Bank, FirstRand, Absa, Nedbank, Capitec, and foreign lenders like Citi and HSBC, reduced lending as climate shocks threatened collateral values and corporate profits. Experts warn this may slow the transition to a low-carbon economy. The study urges balancing financial prudence with adequate credit to support economic growth and climate resilience. (SOURCE: Reuters) |
ROOIBOS GROWERS AT RISK OF FUTURE TARIFF IMPACT
The South African Rooibos Council (SARC) has raised concerns over the US’s newly imposed 30% tariff on South African imports, warning of potentially long-term detrimental effects on the industry. While rooibos currently benefits from a diversified global customer base and US exports account for only about 5% of its total, a sustained tariff could chew into margins, reduce competitiveness, discourage investment, and threaten approximately 8,000 jobs - particularly in rural Western Cape communities where the tea is uniquely grown. SARC is calling for urgent trade relief and is engaging with both government and international stakeholders to protect the sector’s future. (SOURCE: BDlive) |
MURRAY & ROBERTS BUSINESS RESCUE FALTERS
Murray & Roberts Limited has announced it will cease operations following crippling financial losses and insolvency. The company, once behind landmark projects like Gautrain, Medupi, Sun City, and Dubai’s Burj al Arab, succumbed after creditors filed a winding-up application in the Gauteng High Court. Despite a November 2024 business rescue effort and a 99.7% creditor-approved plan to sell mining assets, the holding company collapsed under surety obligations and mounting losses. Financial results showed a R646 million pre-tax loss in late 2024, compared to R2 million a year earlier. This marks the end of a century-old engineering giant with a rich construction legacy. (SOURCE: Moneyweb) |
ANGLO ANGUISH AFTER R70 BILLION COAL BUY-OUT DEAL CRASHES
Peabody Energy has withdrawn from its R70 billion ($3.8 billion) acquisition of Anglo American’s Australian coking coal assets, citing a fire at the Moranbah North mine in Queensland as a material adverse event. The fire, which occurred in March 2025, halted operations and raised concerns about the mine's future viability. Peabody invoked a contractual clause allowing it to cancel or renegotiate the deal under such circumstances. Anglo American disputes the termination, stating that the fire does not constitute a valid reason for withdrawal and is considering legal action. This development hampers Anglo's restructuring efforts and casts uncertainty over its exit from coal. (SOURCE: Bloomberg) |
… AS AVENG REPORTS R975 MILLION LOSS ON DOWN UNDER TRAVAILS
JSE-listed engineering group Aveng reported a headline loss of A$84.6 million (R975 million) for the year ended 30 June 2025, reversing prior-year earnings of A$38 million (R466 million). Revenue fell 13.9% to A$2.6 billion (R31 billion) as infrastructure markets in Australia and New Zealand softened. Losses stemmed largely from two legacy projects - the Jurong Region Line in Singapore and the Kidston Pumped Storage Hydro project in Australia - tallying A$98.5 million in extra costs. CEO Scott Cummins said remaining projects remain profitable, with building operations improving margins. Aveng’s cash balance strengthened to A$267.3 million (R3.1 billion), while a new R10.6 billion Gamsberg contract promises future gains. (SOURCE: SENS) |
STUDY CHALLENGES RUPERT FAMILY ROLE IN RICHEMONT
US proxy advisory firm Institutional Shareholder Services (ISS) has recommended that Richemont shareholders vote against re-electing chair Johann Rupert and board member Anton Rupert ahead of the company’s September AGM. ISS critiqued the dual-class share structure that grants the Rupert family 50% of voting rights despite owning only 9.1% of equity. The firm also opposed proposed bonuses totalling 30.6 million Swiss francs (about $38 million), citing the lack of disclosure of performance targets and outcomes. Richemont has yet to publicly respond to the advisory firm’s guidance. (SOURCE: BDLive) |
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Trees that are slow to grow bear the best fruit.
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| Dollar | R17.71 | - 0.09% | | Pound | R23.90 | - 0.21% | | Euro | R20.59 | + 0.08% | | Yen | 0.120170 |
| | Yuan | R2.46 | - 0.04% | | Bitcoin | $113 632.70 | + 0.23% |
These rates are correct at time of going to press. | | Platinum | $ 1 314.00 | + 0.81% | | Gold | $ 3 325.68
| + 0.30% | | Oil | $ 66.25
| + 0.55% | | All Share | 101 196.47
| + 0.05% | | Repo | 7.00 | | | Prime | 10.50 | |
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