| COMPENSATION FUND WORKSHOP ON COMPLAINCE, CLAIM PROCESS |
The Department of Employment and Labour’s Compensation Fund is inviting employers in the city and KZN Midlands to a workshop on compliance and the claim process pertaining to the Compensation for Occupational Injuries and Diseases Act (COIDA) on Thursday, 4 December. The workshop from 9 am to 2.30 pm is aimed at managers, supervisors, administrators, HR officials and employees dealing with COID issues. A help desk will assist .with queries, questions and challenges. For more information and to RSVP, contact Nontsikelelo.Mhlonyane@labour.gov.za or Lungile.Shezi@labour.gov.za.
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| PIONEERING GEAP WINS CHAMBER INTERNATIONAL HONOURS |
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PMCB CEO Melanie Veness (third right) with fellow representatives from business chambers across the world at an International Trade Council event in London last month.
The Pietermaritzburg and Midlands Chamber of Business (PMCB) has won the Enterprise Development Leadership award at the Go Global Awards, under the auspices of the International Trade Council, in London last month. The award, selected from nearly 6 000 global nominations, recognises the PMCB’s impact in empowering 100 black-owned enterprises through its Global Export Accelerator Projects, affectionately known as GEAP.
CEO Melanie Veness paid tribute to the “extraordinary dedication” of project managers Shan and Shari Cade, whose hands-on commitment “went far beyond expectations” and proved central to the programme’s success. Veness also acknowledged support from GIZ, E4D, the German government, KZN EDTEA and PMCB members. “It truly takes a village to grow entrepreneurs - and we are grateful for ours,” she said.
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| WHY DO 'WHITE GENOCIDE' FALSEHOODS FIND FAVOUR IN SOUTH AFRICA? |
1856: The Battle of Tugela (Ndondakusuka) between Cetshwayo and his younger brother Mbulazi claimed the lives of more than 5 000 warriors.
Elsewhere, in 1960, paleoanthropologist Louis Leakey discovered 1.4 million year old Homo erectus in the Olduvai Gorge, Tanzania.
Mankind threat: On this day in 2014, Stephen Hawking claimed that Artificial Intelligence could be a "threat to mankind" and portent the end of the human race.
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CRACKDOWN ON R15 BIILION FAKE-GOODS MARKET PICKS UP SPEED
South Africa is escalating its campaign against counterfeit and illicit products as new research exposes the depth of the crisis. An industry survey shows 50% of South Africans personally know someone harmed by fake or illicit alcohol, which contributes to an estimated 15% of national alcohol consumption.
The broader illicit goods market - spanning alcohol, tobacco, pharmaceuticals, clothing and electronics -is costing the economy over R150 billion annually in lost taxes, jobs and investment. Authorities are intensifying border inspections, rolling out digital track-and-trace systems, and conducting large-scale raids in major metros. Industry bodies warn that counterfeit goods are increasingly linked to organised crime networks, urging tighter supply-chain controls and quicker prosecutions to protect consumers and revenue. (SOURCE: News24)
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SIN-TAX HIKES TO FUND R12 BILLION HIV FUNDING SHORTFALL
South Africa is weighing sharp sin-tax hikes to offset a looming HIV treatment shortfall as Donald Trump’s reinstated global health restrictions choke off over R12 billion in expected PEPFAR-linked support over the next three years. Health officials warn that as many as 1.2 million patients could face treatment disruptions if alternative funding is not secured. Treasury is modelling increases of 8%–12% on alcohol and tobacco and a possible 20c–30c per litre rise in the sugary-drinks levy to protect HIV programme continuity. Clinics already report medicine stock pressures, while experts caution that losing US funding could reverse years of gains in reducing new infections and AIDS-related deaths. (SOURCE: Reuters)
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NOVEMBER VEHICLE SALES SURGE 12.5% ON IMPROVED OUTLOOK
South Africa’s new-vehicle market accelerated in November, with 54 896 units sold - a 12.5% year-on-year jump. Industry organisation naamsa says easing inflation, fuel-price relief, lower borrowing costs and the country’s first credit-rating upgrade in nearly 20 years all boosted demand. Year-to-date sales are 15.4% higher than in 2023. Passenger-car sales rose 11% to 39 158 units, driven by car-rental purchases that made up 21.2% of volumes ahead of the holiday season. Light-commercial sales climbed 20.5% to 13 048 units, while medium trucks dipped 0.6% and heavy trucks and buses grew 1.3% to 1 992 units. Exports fell 3.9% to 35 848 units, though year-to-date volumes remain 5.6% ahead of last year. (SOURCE: Engineering News)
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... AS 8-YEAR DRIVING-LICENCE VALIDITY GAINS TRACTION
South Africa will “definitely” shift to eight-year driving licence validity, Acting Transport DG Mathabatha Mokonyama confirmed, saying public sentiment and cost–benefit analysis support the change. The Department of Transport will manage revenue losses at the DLCA and RTMC. Mokonyama also warned the public transport subsidy policy may be delayed after proving unaffordable at 5% of GDP, though support for the taxi industry remains a priority. He said the irregular R898 million licence-card tender heads to court in January 2026, while backlog clearance and a GPW-produced interim licence card solution are on track for 2026. The TRP’s future hinges on affordable taxi financing. (SOURCE: Moneyweb)
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ESKORT BANKS ON PORK FOR R1 BILLION SLICE OF HOSPITALITY MARKET
Eskort is intensifying its push into the R30 billion food-service protein market, targeting at least R1 billion in hospitality sales within three years as demand for pork rises across restaurants, hotels and catering. The company has expanded its meal-solutions range to over 40 ready-to-cook and heat-and-serve products, including portion-controlled cuts and marinated lines designed to cut prep time by up to 35% for commercial kitchens. Eskort has also grown its national food-service distribution footprint to over 120 wholesalers and caterer networks, aiming to boost volumes and stabilise margins as operators shift toward affordable, consistent protein options amid tight budgets and volatile input costs. (SOURCE: BDLive)
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HISTORIC COURT RULING PUNISHES TOTALENERGIES FOR 'GREENWASHING
A landmark French ruling against TotalEnergies for greenwashing strengthens global climate accountability and offers African countries new legal leverage. The Paris Judicial Court found the company guilty of misleading consumers by promoting itself as a climate-friendly, net-zero leader while expanding oil and gas production. The court ordered TotalEnergies to stop its greenwash advertising, publish the ruling on its website for 180 days or incur a penalty of €20 000 (about R394 0000) per day. The company was also ordered to pay €8 000 (US$9 230) to the plaintiffs for causing non-financial harm. Climate-law experts say the judgement - the first to penalise a fossil-fuel major for deceptive climate claims - signals a shift from regulating emissions to scrutinising corporate promises - a development that could drive similar actions under African consumer-protection and environmental laws.(SOURCE: The Conversation)
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... AS UK PULLS R17.1 BILLION FROM MOZAMBIQUE LNG PROJECT
The UK has pulled more than $1 billion (about R17.1 billion) in financing from TotalEnergies’ halted Mozambique LNG project, citing rising risks. The development, once Africa’s largest private investment, stalled in 2021 after Islamic State-linked attacks near Palma. TotalEnergies has been working to revive the project, including securing renewed US Exim backing. UK Business Secretary Peter Kyle said risk assessments no longer justified UK Export Finance’s involvement. The withdrawal adds pressure to a venture already burdened by $4.5 billion in halt-related costs and human-rights allegations, which both TotalEnergies and Mozambique’s president deny. The company declined to comment. (SOURCE: Bloomberg)
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ZIMBABWE ROLLS OUT ROYALTY SYSTEM TO CROWN GOLD'S REIGN
Zimbabwe will roll out a new sliding royalty structure for gold miners from January 1, aiming to capture more revenue as prices soar. Finance Minister Mthuli Ncube said royalties will range from 3% to 10%, linked directly to global gold prices - a move designed to prevent arbitrage and ensure miners contribute fairly during commodity booms. Gold has surged 58% this year to about $4 160 (about R71 130) an ounce. Producers such as Caledonia Mining and Kavango Resources will be affected. Government expects higher revenues in 2026, while GDP growth is forecast at 5%. (SOURCE: Bloomberg)
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CRYPTO ON THE BACKFOOT AS SELL-OFF PRESSURES MOUNT
Cryptocurrencies tumbled yesterday, reigniting a broader selloff. Bitcoin fell 6% to below $86 000 (about R1.47 million) before recovering slightly, while Ether and Solana dropped more than 7%. The market has struggled since $19 billion in leveraged bets were wiped out after Bitcoin’s October record of $126 251. Weak ETF inflows, fading dip-buying and rising macro risks are fuelling fears of deeper losses, with traders watching $80 000 as key support. Global factors - including rising Japanese bond yields, yen carry-trade unwinding and renewed warnings on digital assets - added pressure, while a USDT stability downgrade and China’s crypto caution further rattled sentiment. (SOURCE: Bloomberg)
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It’s been my experience that you can nearly always enjoy things if you make up your mind firmly that you will.
Lucy Maud Montgomery |
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| Dollar | R17.09 | - 0.02% | | Pound | R22.56
| + 0.05% | | Euro | R19.84
| + 0.01% | | Yen | 0.109722 |
| | Yuan | R2.42
| - 0.02% | | Bitcoin | $ 87 134.04
| + 0.85% |
These rates are correct at time of going to press. | | Platinum | $ 1 650.10 | - 0.78% | | Gold | $ 4 213.81
| - 0.42% | | Oil | $ 63.20
| - 0.09% | | All Share | 111 948.65 | + 0.89% | | Repo | 6.75 | | | Prime | 10.25 | |
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