| MARCH PAIN AT THE FUEL BOWSER, CLEM SUNTER, AND IT'S FRIDAY! |
The vagaries of international trade are inescapably evident at the fuel bowser where global forces collide with everyday reality. Motorists better brace for fuel price hikes when the new regime kicks in on 4 March, a painful reminder of the cyclical nature of both global markets and domestic economic pressures.
The reprieve after a sustained period of reductions is ending when the two key determinants converge: a weakening Rand, currently at R16.14/$, and surging international oil prices. Brent crude has climbed above $70 per barrel, currently at $72.02, amid escalating US-Iran tensions, threatening supply through the Strait of Hormuz, which channels roughly 20 % of the world’s oil. Analysts reckon petrol could rise by several cents a litre, while diesel may jump 45–47 c/l to stretch household budgets.
On an even sadder note, scenario planner and strategist Clem Sunter passed away. Known for his pioneering work on future scenarios and economic forecasting, Sunter insights shaped policy and corporate strategy. Otherwise, a happy and safe weekend as we hurtle towards the end of the second month of the year! Derek Alberts (editor) |
| CALLING GOLFERS WITH HEARTS OF GOLD FOR A MARCH HIT-OUT |
Getting ready for the annual Community Chest Golf day are (ltr) Chanee Holder (Gevorkyan Geophysics), Racquel Gounder (Makhaotse Narasimulu and Associates), Aaria Bhagwandeen (P K Valves), Urav Jacobs (The Witness), Charmalyn Sivanathan (AET Security) and Richard Rangiah (Community Chest).
Golfers are invited to go clubbing for a worthy cause in the annual Community Chest Charity Golf Day at the Victoria Country Club on Thursday, 26 March. The 4-BBB event is supported by main sponsors, The Witness, Joeys Towing Services, Scottsville Mall, PK Valves, Gevorkyan Geophysics, Mantella, AET Security and Makhaotse Narasimulu and Associates.
The golf day is a key fund-raiser for the Chest to help meet its mandate to communities in need. It has called for additional sponsorships for holes and prizes. Entry on the day is R500 per person that includes green fees. Contact Angie or Sma on (033) 3941031 or 072 791 0311.
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| HOW TO CUT ELECTRICITY COSTS, RECOVER OVERPAYMENT |
| Medium and large electricity users, who are members of the chamber, are invited to a discussion with Afrenergy on identifying billing errors and unlocking cost savings on Wednesday, 25 February, at the Pietermaritzburg and Midlands Chamber of Business. Several businesses are overcharged due to incorrect tariffs and outdated meters. Afrenergy will outline its Shared Savings Agreement programme, enabling PMCB members to recover overpayments and energy optimisation with no upfront cost. The meeting is from 3 pm to 5 pm. Contact Kay on (033) 3452747 or at chamber@pmcb.org.za. |
1955: The infamous Population Registration Bill, a cornerstone of apartheid, was read for the first time.
Elsewhere, in 1962, John Glenn became the first US citizen to orbit the Earth and landed safely in the Atlantic Ocean, almost a year after Soviet cosmonaut Yuri Gagarin orbited the Earth on April 12, 1961.
Today is observed as World Day of Social Justice at a time when humanity can do with a lot more of this all too rare quality. |
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SYSTEM OUTAGE LEAVES 25 000 DEBT-STRESSED CONSUMERS HANGING
South Africa’s debt review system remains gridlocked as the primary online platform, used by over 1.2 million consumers and 350 registered credit providers, has been offline since early February 2026. This outage has created a backlog of more than 25 000 new debt review applications, preventing individuals struggling with unaffordable debt from accessing relief measures under the National Credit Act. Credit providers face compliance pressures, with statutory deadlines approaching for response times and reporting. Consumer advocacy groups warn that continued downtime could lead to missed payments, defaults, and an increase in legal disputes.
Technical teams are working to resolve the outage, but no firm restoration timeline has been confirmed. The South African Reserve Bank and National Credit Regulator are reportedly monitoring the situation, calling for urgent interventions to stabilise the credit market and protect vulnerable borrowers. (SOURCE: News24)
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RAFT OF MEASURES TO COMBAT R50 BILLION ONLINE GAMBLING
Government plans to tighten gambling advertising rules as losses to online betting near R50 billion a year, according to estimates cited by asset manager M&G Investments. The department of trade, industry & competition says new norms and standards will be published before July 2026, potentially restricting advertising times, sports sponsorships and influencer marketing. Betting brands such as Betway and Hollywoodbets dominate football, rugby and cricket promotions. The National Gambling Board has flagged intrusive ads reaching minors and downplaying risks in its 2025–2030 strategy. Meanwhile, National Treasury has proposed a 20% tax on gross online gambling revenue, adding to existing provincial levies. (SOURCE: BDLive) |
REFORMS TO POTENTIALLY BOOST OUTPUT 9%, SAYS IMF
The International Monetary Fund says Operation Vulindlela could lift South Africa’s real output by up to 9% over the medium term and raise annual growth to 3% if reforms continue. The programme, launched in 2020 by the Presidency and National Treasury, targets electricity, logistics and water bottlenecks. The IMF forecasts GDP growth of 1.3% in 2025 and 1.4% in 2026, with inflation easing towards the new 3% target. Debt stabilisation will require a 1.5% primary surplus and tighter control of spending and state-owned enterprises. (SOURCE: BDLive) |
GLASS FITMENT CARTEL FACES PROBE DATING BACK 20 YEARS
South Africa’s Competition Commission has referred PG Glass and Glasfit to the Competition Tribunal for alleged price-fixing spanning more than 20 years. The watchdog claims the firms agreed to annual, uniform percentage increases on automotive glass supplied to consumers and insurers since 2004. If found guilty, they could face fines of up to 10% of annual turnover. Commissioner Doris Tshepe said dismantling the cartel would lower costs in a priority industrial sector. Both companies operate over 110 fitment centres nationwide, servicing major insurers and millions of motorists. (SOURCE: BDLive)
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MOVES TO OUTLAW 3 'FOREVER CHEMICALS' TAKE OFF
South Africa has begun the process of eliminating three toxic “forever chemicals” by calling on companies to disclose their use within 30 days. The substances - medium-chain chlorinated paraffins, long-chain perfluorocarboxylic acids and UV-328 - are newly listed persistent organic pollutants under the Stockholm Convention. They resist breakdown, bioaccumulate in humans and ecosystems, and are linked to liver damage, immune suppression and developmental harm. Used in products from non-stick cookware to aerospace components, they may face phase-outs, with limited exemptions running until 2030–2041. The regulatory shift will trigger compliance reviews across manufacturing, automotive, textile and electronics supply chains. (SOURCE: BDLive)
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CIPLA TAKES R15.5 BILLION AIDS TENDER TO COURT
Cipla has filed papers in the Pretoria High Court seeking to set aside the health department’s R15.5 billion antiretroviral tender, alleging collusive bidding, flawed scoring and irrational contract splits. The challenge follows a similar action by Hetero SA. Cipla claims preference points for historically disadvantaged ownership were misallocated and that due diligence on financially distressed bidders was inadequate. Two winning firms entered business rescue shortly after the tender began. The case intensifies scrutiny of Health Minister Aaron Motsoaledi over procurement processes affecting 5.6 million HIV patients. (SOURCE: BDLive)
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... AS MEDSCHEME, BONITAS SQUARE UP IN PROCUREMENT BATTLE
A high-stakes legal clash between Medscheme and Bonitas Medical Fund will be heard in the Johannesburg High Court in March. Medscheme, a subsidiary of JSE-listed AfroCentric, wants the court to suspend recent tenders for administration and managed care services until a forensic probe by the Council for Medical Schemes is completed. It alleges irregular procurement, predetermined outcomes and whistleblower-backed evidence of governance failures. Bonitas rejects the claims, saying proper processes were followed and contracts have already been awarded to Momentum and PHA. Medscheme’s current contract ends on 31 May 2026, raising the stakes over millions of members and significant annual administration fees. (SOURCE: Moneyweb)
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GOLD FIELDS INVESTORS IN FOR R27 BILLION BONANZA
Gold Fields nearly tripled annual profit to $3.57 billion (about R57 billion) for 2025, lifted by record bullion prices and a strong ramp-up at its Salares Norte mine in Chile. Gold-equivalent output rose 18% to 2.44 million ounces, while the average realised gold price surged to $3 496/oz, offsetting higher costs. Adjusted free cash flow jumped to $2.97bn, enabling total shareholder returns of $1.7 billion (about R27 billion), including a special dividend of 450 cents a share and a $100 million buyback. (SOURCE: SENS)
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JSE ADDS JAPANESE, EUROPEAN FLAVOUR TO ETF BASKET
The Johannesburg Stock Exchange has listed two new global funds - the Satrix MSCI Japan Feeder ETF (STXJPN) and Satrix Stoxx Europe 600 Feeder ETF (STXEUR) - expanding regional diversification options for local investors. The Japan fund tracks broad exposure to that market, while the Europe ETF spans 17 countries and 11 industries, including the UK. With total expense ratios of 0.35% and 0.25% respectively, both qualify as tax-free investments. The JSE now hosts 131 ETFs with market capitalisation above R259bn, reflecting rising demand for globally diversified, locally listed products beyond US-heavy indices. (SOURCE: Moneyweb)
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US DEFICIT BALLOONS TO R1.53 TRILLION AS CHINA IMPORTS SINK
The US trade deficit widened sharply in January 2026, reaching $94.3 billion (about R1.53 trillion), despite a 30% drop in imports from China, according to the Commerce Department. Exports grew modestly to $238.7 billion, led by higher shipments of aircraft, semiconductors, and agricultural products, but imports surged to $333 billion, reflecting strong domestic demand for consumer goods and energy. Economists note that supply chain shifts and a stronger dollar partially explain the fall in Chinese imports, yet the overall deficit remains historically high. Policymakers continue debating tariffs, incentives, and trade agreements to address the imbalance and support manufacturing growth. (SOURCE:AFP)
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TOTALENERGIES FACES HIGH-STAKES FRENCH CLIMATE TRIAL
French oil giant TotalEnergies is facing a landmark trial over alleged contributions to climate change, with environmental groups claiming the company emitted over 350 million tonnes of CO₂ between 2015 and 2022, contributing to global warming. Filed in Paris, the case alleges TotalEnergies failed to reduce emissions in line with international climate commitments, including the Paris Agreement target of limiting warming to 1.5°C. If found liable, the company could face fines exceeding €1 billion and mandatory implementation of stricter emissions controls across its operations. The trial underscores rising legal risks for fossil fuel firms globally. (SOURCE:AFP) |
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A person possessed with an idea cannot be reasoned with.
James Anthony Froude |
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| Dollar | R16.14 | + 0.04% | | Pound | R21.73 | + 0.09% | | Euro | R18.98 | + 0.16% | | Yen | 0.104105 |
| | Yuan | R2.34 | + 0.03% | | Bitcoin | $ 67 831.29
| + 1.31% |
These rates are correct at time of going to press. | | Platinum | $ 2 085.79
| + 0.32% | | Gold | $ 5 016.96
| + 0.42% | | Oil | $ 71.98
| + 0.14% | | All Share | 122 259.56
| + 0.34% | | Repo | 6.75 | | | Prime | 10.25 | |
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