| CONTACTLESS PAYMENTS AT MALL TO EASE BOOM-GATE BOTTLENECKS |
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Liberty Midlands Mall patrons can look forward to a less time in traffic queues with the adoption of Zapper technology.
Passing though an entrance boom should take around seven seconds, an ambitious industry standard that Liberty Midlands Mall is embracing with gusto. So serious is the intention to speed up entry and exit to the mall that its ticketless passage tie-up with Zapper is the first in the country. The technology is based on scanning a QR code for quick, secure, and contactless payment that eliminates physical cash or cards. Bonus is that the Zapper platform also supports loyalty programmes - including free parking on the fifth visit - digital vouchers, and the like, by leveraging its relationship with shops and vendors in the mall.
The transition, said Centre Manager Lawrence Joubert, is a work in progress of which the Zapper partnership is the first step towards easing boom-gate bottlenecks. To help manage the learning curve, the new system will run in parallel with the current technology, while a Zapper promoter will be on hand to guide visitors through the process.
Click here for an explanatory video to show the Zapper system in operation. |
| 'DIOR BAG BRIBE', TOO TALL TRAINS AND OTHER BREAKFAST FARE |
The insights of investigative writer Pieter-Louis Myburgh on Thursday, 27 November are bound to surprise, shock, and amuse guests at the Pietermaritzburg and Midlands Chamber of Business over breakfast. The protagonist in the infamous bribe in a Dior bag video that continues to expose a viper’s nest of breath-taking corruption, Myburgh also derailed ex-PRASA CEO Lucky Montana’s plush ride, among other investigations. Seats are limited for the 8.30-10.30 am function, R275 for PMCB members, R375 (non-members), contact Heidi on (033) 3452747 or pmcb@pmcb.org.za.
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| REMINDER: ABELUSI QUARTERLY MEETING TOMORROW |
Supporters and patrons of Abelusi, the organisation behind the city’s community garden initiative and other projects, are reminded of its quarterly meeting tomorrow to review progress on ongoing projects, financial performance, and priorities for the next quarter. Proceedings at Project Gateway start at 1 pm and will be accessible via a Zoom link.
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1964: British Prime Minister Harold Wilson announced an embargo on the export of arms to South Africa.
Elsewhere, in 1869, the 193-km Suez Canal was completed to connect the Red Sea and the Mediterranean Sea.
Wishful thinking: How we wish for peace and harmony on World Peace Day.
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SALES TAX CHALLENGE TO VAT MAY SLASH RATE TO 6%
A bold proposal by mid-tier accounting firm PFK for an alternative system to the proposed Vat Modernisation Project is projected to potentially slash the VAT rate from 15% to about 6% while maintaining revenue. The PFK proposal suggests scrapping VAT input claims and shifting South Africa to a sales-tax-style system, saying this would eliminate refund fraud, which cost SARS R146.7 billion in blocked impermissible claims last year, and simplify compliance as SARS paid a record R447.7 billion in refunds. The plan challenges the Treasury's VAT Modernisation Project, expected to cost R1.5 billion over five years. The Treasury has “noted” the proposal but warns it reverses global trends. Critics say real-time e-reporting could burden SMEs and expand the cash economy. (SOURCE: Moneyweb)
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CREDIT RATINGS UPGRADE TO CUT COSTS, LIFT CONFIDENCE
S&P Global Ratings raised South Africa’s long-term foreign-currency sovereign rating to BB (from BB-) and its local-currency rating to BB+ (from BB). The upgrade marks the first by a major agency in nearly two decades. The rerate is projected to stabilise the debt-to-GDP ratio at 77.9% this year, narrow the budget deficit to about 4.7% of GDP in 2025/26, and spur GDP growth from 0.5% in 2024 to 1.1% in 2025, averaging about 1.5% through 2026-28. The positive outlook reflects improved tax collections, reduced contingent liabilities (notably at Eskom), and structural reforms. Treasurer and economists say the move should lower borrowing costs and increase investor confidence. (SOURCE: Reuters)
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… AS MARKET RALLY ADDS R5 TRILLION TO JSE
South Africa’s market rally has accelerated sharply, lifting combined equity values by an estimated R5 trillion across local exchanges. The JSE alone has surged from R18.1 trillion in early 2024 to R21.2 trillion by May 2025, a gain of R3.1 trillion driven by broad-based investor confidence. Resource counters have climbed nearly 30% year-to-date, while industrials are up about 13%, reinforcing the strength of the rebound. Fund managers say the momentum is translating into a robust IPO pipeline, with potential listings such as Fidelity Security, Virgin Active, Coca-Cola and African Bank. Market leaders expect continued inflows as corporate earnings stabilise and global sentiment improves. (SOURCE: BDLive)
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REVIVED NUCLEAR PROGRAMME TO MAKE UP FOR LOST TIME
Energy Minister Kgosientsho Ramokgopa says South Africa is fast-tracking a “new era” in nuclear energy, backed by a 2025 Integrated Resource Plan (IRP) that allocates 5 200 MW of new nuclear capacity. He announced the revival of the Pebble Bed Modular Reactor (PBMR), ending its care-and-maintenance status and reopening fuel-cycle labs. Eskom has approval for a 4 000 MW nuclear build at Duynefontein and R2.1 billion is earmarked for a central interim storage facility for spent fuel. The plan is framed as a major industrialisation push, using nuclear power to build local skills, drive research and foster clean “baseload” growth. (SOURCE: News24)
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R300 MILLION TO RESCUE CONTRACTOR DEVELOPMENT PROGRAMME
Deputy Public Works Minister Sihle Zikalala revealed that less than 36% of contractors in state-supported development programmes progress beyond their entry grade. He flagged systemic problems: payment delays, fragmented roll-out, and weak post-training support. To redress the failures, the BUILD Programme has been allocated R300 million to help emerging contractors. Competency assessments for 1 000 contractors have begun, and a national CIDB roadshow is under way to engage small contractors. (SOURCE: Engineering News)
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‘PLEASE CALL ME’ INVENTOR FENDING OFF 40% CLAIM TO PAY-OUT
‘Please Call Me’ inventor Nkosana Makate says UK-based Black Rock Mining (BRM) is attempting to “extort” 40% of his estimated R700 million Vodacom pay-out despite contributing almost nothing to his legal battle. BRM claims entitlement to R280 million, citing a disputed 15-year-old funding agreement. Makate counters that BRM provided just R7 853 in 2014, not the R2.9 million it alleges, and that signatures on later agreements were forged. He wants BRM to provide security for costs, arguing it has no assets. BRM also seeks an interdict to halt Vodacom’s payment. Makate says any claim has prescribed and labels the funders “dishonest fraudsters.” (SOURCE: Moneyweb)
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FINTECH GIANT REVOLUT EYES BANKING LICENCE
Global fintech heavyweight Revolut has applied for a South African banking licence, marking the first formal regulatory step under Section 12 of the Banks Act. The move signals its intent to enter an already competitive digital-banking arena dominated by TymeBank, GoBank and newcomer OM Bank. Revolut, which serves more than 65 million customers worldwide, says the expansion will boost competition and financial inclusion. As part of its launch strategy, it has appointed veteran banker Dr Gaby Magomola as chair of Revolut South Africa. Founded in 2015, Revolut currently operates across Europe through its Lithuanian-issued specialised banking licence. (SOURCE: Moneyweb)
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CONGO BASIN HEADING FOR CRITICAL DEFORESTATION TIPPING POINT
The Congo Basin - a forest expanse larger than India - is nearing a tipping point that could erase its role as the world’s largest tropical carbon sink. A landmark 800-page report for COP30 warns the region now absorbs 600 million tons of CO₂ a year, down from 1.5 billion tons two decades ago. Deforestation driven by slash-and-burn farming, logging and charcoal use is accelerating. Scientists say failure to act within the next decade could trigger irreversible damage, threatening rainfall systems across Africa. They call for sustainable farming, stronger governance and major climate-finance flows to protect this biodiversity-rich ecosystem. (SOURCE: Bloomberg)
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R15 BILLION ETF JOLT DEEPENS BITCOIN WOES AFTER OCTOBER HIGH
Bitcoin dropped below $96 000 (about R1.65 million) extending its fall to more than 20% from its October record, as investors pulled $870 million from Bitcoin ETFs - the second-largest outflow on record. The market remains shaken after the $19 billion liquidation shock on 10 October, which erased over $1 trillion in crypto value. Another $1 billion in leveraged positions was wiped out in the past 24 hours. Liquidity has weakened, with market depth down 30% this year. Analysts warn Bitcoin could test the low $90 000 range, with volatility surging as traders pile into options straddles and strangles. (SOURCE: Bloomberg)
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The young do not know enough to be prudent, and therefore they attempt the impossible - and achieve it, generation after generation.
Arthur Koestler |
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| Dollar | R17.10 | - 0.11% | | Pound | R22.48 | + 0.11% | | Euro | R19.85 | + 0.02% | | Yen | 0.110434 |
| | Yuan | R2.41 | - 0.05% | | Bitcoin | $ 94 880.22
| - 0.04% |
These rates are correct at time of going to press. | | Platinum | $ 1 551.80
| + 0.83% | | Gold | $ 4 068.60 | - 0.40% | | Oil | $ 63.70
| - 0.75% | | All Share | 111 973.22 | - 1.82% | | Repo | 7.00 | | | Prime | 10.50 | |
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