| WILL RAMAPHOSA STEP UP AND SCORE NODDY POINTS AT SONA? |
Amid the pomp and ceremony of tomorrow night’s State of the Nation Address (SONA), President Cyril Ramaphosa has the opportunity to reset South Africa’s foreign relations and score noddy points in the debacle over the 17 men - and two from Botswana - lured under false pretenses to fight alongside Russian forces in Ukraine.
A press briefing in Umhlanga yesterday laid bare the anguish of family left in the dark by the unfathomable machinations of international relations and complicated by BRICS partner Russia’s complicity on the one hand, and the shadow cast by ex-president Jacob Zuma’s family on the other. Readers may recall that his daughter Duduzile Zuma-Sambudla is accused of promising the men jobs as bodyguards by her sibling Nkosazana Zuma-Mncube, complexities studiously skirted by the relatives of the men at yesterday's plea.
Coincidentally or not, as yesterday’s briefing concluded, news that Kenya has secured the return of 27 of its own citizens from the Russian fighting broke, followed later by an SABC report that Ramaphosa and Russian President Vladimir Putin had pledged support for repatriation efforts. Already outsmarted by Kenya’s efforts, the best Ramaphosa can do tomorrow evening is announcing timelines for the men’s return. Time will tell … Derek Alberts (editor)
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| 90-SECOND BRILLIANCE CREATES A BIZZ-LINK BUZZ |
(ltr) Bizz-Link buzz winner Sue St Leger-Stretch flanked by the PMCB's Kay Reddy (left) and presenter Dirk Calitz.
Yesterday's Bizz-Link Network celebrated a mix of fun and business brilliance at the Pietermaritzburg and Midlands Chamber of Business. Each participant had 90 seconds to pitch their business, and the winner of the session was Sue St. Leger-Stretch from Sue St Leger & Associates. She takes home the coveted Bizz-Link bee until the next network. Speaker Dirk Calitz from Outdoor Educators presented an entertaining session on how to build a great team, offering practical insights to inspire leaders and strengthen teams. |
| MARKET RECOVERY IS GOOD NEWS FOR HOME OWNERS |
1990: Nelson Mandela was freed after 27 years as a political prisoner.
Elsewhere, in 1979: Ayatollah Khomeini seized power in Iran.
Today is dedicated to International Day of Women and Girls in Science. |
BIG 4 BANKS FACE R60 BILLION CLASS ACTION OVER HOME SALES
South Africa’s big four banks - Absa, Nedbank, Standard Bank and FirstRand - face a landmark R60bn class action in the Johannesburg High Court from 24 February, in what may become the country’s largest civil claim. The Lungelo Lethu Human Rights Foundation and Advocate Douglas Shaw allege more than 100 000 homes were sold below market value since 1994, wiping out an estimated R60 billion in homeowner equity. An NCR database listing over 24 000 auction sales, some for as little as R100 or R1,000, forms key evidence.
The applicants argue constitutional property protections were violated, particularly before 2017, when courts were not required to set reserve prices. Banks deny misconduct, saying Section 129 notices and debt-rehabilitation steps were followed. Judge Leonie Windell will decide on class certification and whether the banks have a prima facie case to answer. (SOURCE: Moneyweb)
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NEW STATE PROPERTY FIRM TO OVERSEE R150 BILLION ASSETS
President Cyril Ramaphosa is expected to announce the creation of a state-owned property management company to oversee government assets valued at about R155 billion across all nine provinces. The entity will manage roughly 88,000 buildings and five million hectares of land, including offices, police stations, hospitals, courts and vacant land. The move aims to centralise oversight, improve maintenance and curb wasteful leasing from private landlords, which costs the state an estimated R6bn annually. Public Works Minister Dean Macpherson has said a consolidated asset register could unlock “hundreds of billions of rands” in value, potentially raising funding for social infrastructure while ensuring tighter control and better use of public property nationwide. (SOURCE: Moneyweb)
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SURGE OF MERGER DEALS ON THE CARDS
Goldman Sachs expects a busy 2026 for South Africa M&A, driven by a commodities boom and structural reforms. Platinum prices have more than doubled and gold is up 73%, fueling deals like Anglo American–Teck Resources and Valterra Platinum spinoffs. Mining, financial services, property, digital infrastructure, and industrials are poised for consolidation. Reforms addressing power shortages and freight-rail modernisation improve investor confidence. The IMF projects 1.4% growth this year, 1.9% next, while Ramaphosa targets 3.5% by 2030 with R4.8 trillion in infrastructure investment. Economic activity, higher commodity prices, and government initiatives are expected to accelerate corporate deals nationwide. (SOURCE: Moneyweb)
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... AS MORE CREDIT UPGRADES BECKON OVER NEXT 2 YEARS
South Africa could secure further sovereign credit-rating upgrades within 24 months as fiscal discipline improves and growth stabilises, says Standard Bank chief economist Goolam Ballim. Following S&P’s upgrade to BB last year, Moody’s and Fitch may follow. Real incomes are rising 2%-3%, employment exceeds pre-pandemic levels and rates could fall by up to 75 basis points, supporting bonds and tax revenue. However, political fragmentation ahead of municipal elections and infrastructure constraints - particularly water and electricity - pose risks. Ballim also flagged high household gambling spend, warning it diverts income from productive economic activity and limits growth multipliers. (SOURCE: BDLive)
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TRANSNET TARGETS 250 MILLION TONS WITH SOME PRIVATE HELP
Transnet has recovered rail volumes to 160.1 million tons in 2024/25, up from a low of 149 million tons in 2022/23. CEO Michelle Phillips says the 250 million-ton goal by 2030 is a national target requiring private sector participation. Eleven private operators have received conditional awards to use the network, while Transnet continues to boost coal and iron-ore corridor capacity. Recent reforms have opened rail and port infrastructure to collaboration, including the Durban Container Terminal Pier 2 PSP with ICTSI. Phillips emphasised careful preparation of private transactions to ensure quality, aiming for several new deals this year to accelerate South Africa’s freight growth. (SOURCE: Engineering News)
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R50 BILLION AT STAKE IN GODONGWANA'S BID TO BLOCK EFF CASE
The Western Cape High Court will hear Finance Minister Enoch Godongwana’s bid to strike out the EFF’s challenge to fuel levy increases. The party wants a section of the Customs and Excise Act declared unconstitutional, arguing Parliament - not the minister - must approve tax hikes. Godongwana contends the EFF has improperly turned a review application into a constitutional challenge. Last June, the general fuel levy rose by 16c/l for petrol and 15c/l for diesel, generating about R50 billion annually. The minister warns the case threatens the state’s fiscal framework and budget process. (SOURCE: BDLive)
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... AS CONCOURT DEFERS RAMAPHOSA NHI CHALLENGE
The Constitutional Court has postponed hearing challenges to President Cyril Ramaphosa’s decision to sign the National Health Insurance (NHI) Act, saying it will first consider separate cases questioning Parliament’s public participation process. The move sidelines, for now, arguments over whether the president acted rationally in assenting to the law in May 2024. Instead, the court will hear in May whether the National Council of Provinces facilitated meaningful public input. Medical scheme bodies and doctors’ groups opposing the Act object to the delay, warning of rising legal costs and prolonged uncertainty over sweeping healthcare reforms. (SOURCE: BDLive)
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FLYSAFAIR TO CHART NEW ROUTE IN STRATEGIC EXPANSION
Harith General Partners is close to acquiring FlySafair, South Africa’s largest domestic carrier with a 67% market share and a fleet of more than 30 aircraft. The deal, still subject to regulatory approval, will be funded through a mix of equity and debt. Harith manages assets exceeding $3 billion and already owns stakes in Lanseria International Airport, Traxtion - Africa’s largest private rail operator - and the Beitbridge Border Post redevelopment. CEO Sipho Makhubela said the purchase advances Harith’s strategy to integrate air, rail and border infrastructure into a seamless regional logistics network. FlySafair’s management will remain, while current shareholders, including Ireland-based ASL Aviation Holdings, are expected to exit. (SOURCE: BDLive)
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ZIMBABWE ECONOMY EYES 8.5% GROWTH IN IMF DEAL
Zimbabwe’s economy could expand 8.5% to 10% in 2026, its fastest pace in 14 years, after securing a 10-month IMF staff-monitored programme. Finance Secretary George Guvamatanga cited reforms under the IMF deal, alongside mining and agriculture recovery, as key drivers. The program also aims to address $23 billion in debt that has blocked international capital access for nearly 30 years. Previous projections estimated 6.6% growth, while the IMF forecasts 5% for the year. Resource-driven recovery and fiscal reforms could reintegrate Zimbabwe into global markets, marking a historic economic turnaround for the Southern African nation. (SOURCE: Bloomberg)
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.. AS BOTSWANA PLANS TAX HIKE TO OFFSET DIAMOND SLUMP
Botswana aims to raise corporate tax to 24.5% and top personal income tax to 27.5% to offset a widening budget deficit, forecast at 8.9% of GDP. Diamond revenue, previously a third of government income, has slumped due to synthetic gems. Debswana, the largest miner, has cut production, with recovery unlikely before late 2027. Mineral income will contribute 16% of 2026 revenue, while non-mineral taxes and VAT provide 45%. Finance Minister Ndaba Gaolathe emphasised taxation as a collective investment in development. Proposed tax bills will be debated in parliament, marking a significant fiscal adjustment for the southern African nation. (SOURCE: Bloomberg)
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ALPHABET MOOTS 100-YEAR BOND IN R3 TRILLION CAPEX SPLURGE
Alphabet plans a rare 100-year bond sale, the first by a tech firm since Motorola in 1997. Denominated in sterling, it joins four other tranches, targeting long-term investors such as UK pension funds and insurers. The move coincides with a $185 billion (about R3 trillion) capital expenditure plan for artificial intelligence, doubling last year’s spending. Alphabet also markets multi-tranche US Dollar notes and debut Swiss Franc bonds. The 100-year issuance reflects growing corporate appetite for ultra-long debt amid tech’s capital-intensive expansion, although such century bonds remain uncommon. Previous corporate century bonds, like J.C. Penney’s, faced repayment challenges, highlighting the unique risk profile of these instruments. (SOURCE: Bloomberg).
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ON-LINE SETA ACCREDITED TRAINING - DANGEROUS GOODS
Trainer: Rialgo Barnard - Global Maritime Legal Solutions (Pty) Ltd
This course is indispensable for professionals across various industries involving the handling hazardous materials. Whether you're a driver, warehouse worker, shipping clerk, or supervisor, our comprehensive course equips you with the essential skills and knowledge to work safely and efficiently.
MAIN TOPICS
• The nature of dangerous goods
• Regulations and responsibilities
• Classification and identification of dangerous good
• Packaging, labelling, and marking
• Handling and storage of dangerous goods
• Transporting dangerous goods by road, air, rail and sea
• Emergency response procedures
Date: 18 - 19 February 2025
Time: 9h00 - 15h30
Venue: On-Line Cost: R2500 pp Excl. VAT (members), R3000 pp Excl. VAT (non-members) |
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Many people limit themselves to what they think they can do. You can go as far as your mind lets you.
Mary Kay Ash |
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These rates are correct at time of going to press. | | Platinum | $ 2 139.40
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