| KZN CRACKDOWN LEADS WAY TO REIN IN CONSTRUCTION MAFIA |
| GREEN ENTREPRENEURS SHOWCASE SUSTAINABLE BUSINESS SOLUTIONS |
 |
(ltr, back) Belinda Putterill (Use-It), Chris Whyte (Chris Whyte & Associates), Lucrisha Polton (PMCB Trade Hub Manager), Lwazi Zondi (Luqa Capital), Jurie Fanoy (FNB Sales Manager), Thobeka Khambule (PMCB Trade Hub Coordinator), and front, Nomandla Dlamini (DChem Group), Shashika Jaggernath (Top Rotis), Jitesh Roy (Secure Strap SA), Sumalan Naidoo (Enermous Tapes) and Rashmee Ramdeen (Zilon Bulk Bags).
The PMCB Trade Hub hosted the IYBA Green Seeds Pitching Event, showcasing entrepreneurs developing sustainable, circular economy solutions. The event at the Pietermaritzburg and Midlands Chamber of Business attracted investors, funders, financial institutions and global partners supporting green enterprise growth. The programme helps entrepreneurs strengthen business models, improve financial planning, refine pitches and develop solutions that reduce waste and maximise resources.
The first of three competition rounds saw participants compete for places in South Africa’s national finals and potential representation at the African regional competition. Judges praised the innovation, resilience and environmental impact of businesses working towards a more sustainable future.
|
| IT'S (ALMOST) TIME FOR WOMEN IN BUSINESS TO SET SAIL |
The annual Women in Business Luncheon 2026, under the auspices of the Pietermaritzburg and Midlands Chamber of Business, invites guests to an inspiring event themed Captaining Your Own Destiny. Hear from former ship navigator and Africa’s first female Dredge Master, Londy Ngcobo, as she shares her journey of courage, leadership and breaking barriers. Join the fun on Friday, 31 July at 11 am at the PMB Showgrounds, Hall 8. The dress code is nautical and tickets at R440 per person (exc vat) include table wine. Contact Heidi for more information and bookings on 033 345 2747 or at pmcb@pmcb.org.za.
|
1497: Vasco da Gama set off on a voyage to India that would see his four-ship fleet make several stops along the southern African coastline.
1889: The first edition of The Wall Street Journal was published.
Keep a tissue on hand on World Allergy Day.
|
TOURISM, CONSTRUCTION KEY TO UNLOCKING JOB GROWTH
South Africa has limited scope to create large numbers of new jobs through manufacturing, with National Treasury Director-General Duncan Pieterse arguing that tourism and construction offer greater employment potential. Manufacturing contributes about 13% of GDP but has become increasingly capital-intensive, limiting labour absorption.
By contrast, tourism supports around 1.6 million jobs, while construction is expected to benefit from government's infrastructure pipeline worth hundreds of billions of Rand. Pieterse said manufacturing remains vital for exports and productivity, but reducing unemployment - currently above 30% - will require stronger growth in labour-intensive sectors. He called for a balanced strategy that combines industrial expansion with investment in tourism, construction and services. (SOURCE: BDLive)
|
OUTCRY FORCES SARS TO REVERSE PREMATURE TRUST PENALTIES
The South African Revenue Service (Sars) has withdrawn administrative penalties issued to trusts after acknowledging they were imposed before the law took effect. Following objections from the trust industry, Sars confirmed all penalties linked to February final demand letters will be reversed. However, trustees are not off the hook. New legally compliant demand letters will be issued, with monthly penalties applying from 4 May 2026 for outstanding 2024 and 2025 returns. Penalties range from R250 to R16 000 per return per month for up to 36 months. Trustees are urged to regularise all outstanding tax affairs without delay. (SOURCE: Moneyweb)
|
MEMBERS DITCH MEDICAL AID AS FRAUD TOPS R30 BILLION
Healthcare fraud, waste and abuse are costing South Africa an estimated R30 billion a year, driving up medical scheme costs and forcing millions of people to abandon private healthcare cover. Industry leaders warn fraudulent claims, over-servicing, billing irregularities and corruption are placing enormous pressure on medical schemes, leading to higher contributions for honest members. Speaking at the Board of Healthcare Funders Conference, experts said curbing fraud is essential to improve affordability and retain membership. With rising healthcare costs already squeezing household budgets, stakeholders are calling for stronger data-sharing, tougher enforcement and greater collaboration between medical schemes, healthcare providers and law enforcement to combat increasingly sophisticated fraud syndicates. (SOURCE: BDLive)
|
ESKOM TALKS OFFER TRANSALLOYS TARIFF LIFELINE
Eskom is negotiating a reduced electricity tariff with Transalloys, South Africa's last operating manganese smelter, in an effort to avert permanent closure. The Mpumalanga plant halted production on 1 July after soaring power costs made operations unviable. The company says about 600 direct jobs and up to 1 700 indirect jobs are at risk, while the smelter has an annual production capacity of about 155 000 tonnes of manganese alloys. South Africa produces roughly 80% of the world's high-grade manganese ore, yet exports most of it unprocessed, highlighting the importance of preserving domestic beneficiation capacity. (SOURCE: News24)
|
.. AS RISING COSTS UNDERMINE AFRISAM'S FRAGILE MARGINS
South Africa's concrete product manufacturers are facing mounting financial pressure as rising fuel, transport and raw material costs squeeze already thin profit margins, AfriSam has warned. While the broader construction sector is showing signs of recovery, many manufacturers remain reliant on smaller, interest rate-sensitive projects and have yet to benefit from increased infrastructure spending. AfriSam says reducing material wastage, breakages and production inefficiencies is becoming essential to profitability. The company advises manufacturers to improve quality control, optimise concrete mix designs and monitor production conditions more closely, warning that poor material choices or inconsistent curing can increase costs and compromise product performance. (SOURCE: Engineering News)
|
50-STORE ROLL OUT SETS TONE FOR EDGARS REVIVAL
After completing a three-year turnaround, Edgars is shifting from recovery to expansion, with plans to open about 50 new community-based stores across South Africa over the next two years. Parent company Retailability said the retailer now operates more than 100 stores after optimising its footprint by returning over 100 000m² of retail space to landlords. The strategy has improved store productivity and profitability while aligning outlets with local demand. Edgars is also expanding its 18-store Edgars Beauty chain and launching Edgars Connect, its first standalone cellular store, as the 97-year-old retailer pursues renewed growth. (SOURCE: Bizcommunity)
|
AI STARTUP LANDS R16 MILLION TO FUND GLOBAL EXPANSION
South African-founded HyperDev has raised more than R16 million in pre-seed funding from European and UK investors as it nears 100 000 users across 14 countries, less than three months after launch. The AI coding platform helps developers and non-technical users build deployable software using its proprietary Guided Mode, which turns AI-generated code into working applications. Founded by former OpenAI engineer Piotr Sobolewski and ex-Google AI specialist Riaz Moola, HyperDev will use the funding to accelerate product development. The platform also integrates with HyperionDev to provide AI and software development training. (SOURCE: Bizcommunity)
|
AFRICA STRUGGLING TO MAINTAIN BLOCKCHAIN INVESTMENT MOMENTUM
Africa’s blockchain venture funding declined 26.6% in 2025 as global investment surged 28.8% to $15.4 billion (about R251 billion), according to the latest Africa Blockchain Report by CV VC and Absa. Despite the funding drop, Africa’s share of global blockchain deals reached a record high, showing strong entrepreneurial activity but fewer large investments. Blockchain accounted for 5.3% of African venture funding and 6.9% of deals, compared with 3% and 3.6% globally. The median African blockchain deal was $1.9 million, below the $3.2 million average, highlighting challenges in attracting growth-stage capital. Fifteen African countries now have virtual asset regulations or licensing frameworks. (SOURCE: Engineering News)
|
DE BEERS SLASHES DIAMOND PRICES TO RESTORE JADED SPARKLE
De Beers has implemented some of its deepest-ever official diamond price cuts, reducing prices by an estimated 5% to 50%, depending on the category of stones. The reductions bring prices closer to secondary market levels after years of keeping official prices artificially high. The company also cut its elite "sightholder" buyer group from about 70 to 45–50 customers. Weak Chinese luxury demand, rising competition from lab-grown diamonds and global economic uncertainty have fuelled the industry's downturn, as parent company Anglo American continues efforts to sell the iconic diamond business. (SOURCE: Bloomberg)
|
OIL PRICES SURGE AFTER US STRIKES 80 IRANIAN TARGETS
Oil prices jumped after US forces struck more than 80 targets in Iran following attacks on shipping in the Strait of Hormuz, escalating regional tensions. Brent crude rose 2.6% to $76.09 a barrel, while West Texas Intermediate climbed to $72.26. The attacks, involving three vessels including a Saudi oil tanker, threaten renewed disruption in global energy markets. The US also revoked an oil sanctions waiver for Iran, adding pressure on supply flows. Analysts warned the crisis highlights Hormuz’s vulnerability, with the waterway handling about 20% of global oil trade in normal conditions. (SOURCE: Bloomberg)
|
|
|
Wherever there is a human in need, there is an opportunity for kindness and to make a difference.
Kevin Heath |
|
|
|
| Dollar | R16.27
| + 0.22% | | Pound | R21.74
| + 0.10% | | Euro | R18.58
| + 0.11% | | Yen | 0.100371 |
| | Yuan | R2.39
| + 0.30% | | Bitcoin | $ 62 538.88 | - 1.28% |
These rates are correct at time of going to press. | | Platinum | $ 1 635.70
| - 0.78% | | Gold | $ 4 124.81
| + 0.46% | | Oil | $ 76.65
| + 0.97% | | All Share | 110 325.54
| - 0.75% | | Repo | 7.00 | | | Prime | 10.50 | |
|
|
|
|
|
