| MIDEAST TRUCE CLAIMS LEAVE MARKETS GRASPING FOR TRUTH |
Conflicting and repeated claims that the Iran war was nearing an end have left markets and observers sceptical of the latest peace announcement. While the US, Iran and mediators now say a framework agreement has been reached, previous ceasefire declarations failed to stop hostilities. Investors are watching closely for concrete action, including the reopening of the Strait of Hormuz and formal peace negotiations, before accepting that the conflict has truly entered a new phase.
See below: Mines risk continue to threaten Hormuz shipping |
| COMRADES BEATS BROADCASTING BLUES FOR MASSIVE KZN WIN |
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The 2026 Comrades Marathon delivered the drama expected from the country’s biggest sporting spectacle, from the massed start in Durban to the agony of being counted out by the pistol at the end of the race in Pietermaritzburg.
George Kusche and Gerda Steyn delivered a historic spectacle at the 2026 Comrades Marathon, producing one of the greatest editions of the race despite broadcasting disruptions. Kusche shattered the long-standing men’s Up Run record in 5:15:56, while Steyn secured her fifth title in 5:44:53.
The 99th edition drew 18 523 finishers and awarded over R2 million each to the champions from a total prize purse of R8.2 million, but its impact extended far beyond the finish line. The race remains one of South Africa’s most powerful sporting economic engines, injecting an estimated R600 million-plus into the provincial GDP through tourism, travel and associated spending.
Hotels, guesthouses and Airbnb accommodation in Durban and Pietermaritzburg reported near-full occupancy, with thousands of athletes, support crews and spectators driving a sharp hospitality surge. Local restaurants, transport operators and small businesses also benefited from the influx of visitors. Beyond direct spending, the event generates significant sponsorship and broadcasting revenue, reinforcing its commercial scale. Even with technical glitches on live coverage, the race delivered a landmark showcase ahead of its 2027 centenary on 13 June next year. See here for the full results |
| FREE WEBINAR TO EXPLORE AI OPPORTUNITIES FOR SMME GROWTH |
Artificial intelligence is reshaping business operations, offering SMEs improved efficiency and new growth opportunities, but raising concerns around compliance, data protection and intellectual property. A free webinar hosted by the ICC Centre of Entrepreneurship and Pietermaritzburg and Midlands Chamber of Business will address these issues on Tuesday, 23 June 2026. The session from 2 pm to 3 pm aims to help small businesses understand regulatory risks, protect confidential information and use AI tools responsibly in daily operations. It will also showcase how other SMEs are already applying AI and introduce a practical assessment tool. Click here to register.
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The Boipotong massacre left 46 people dead after Inkatha-aligned hostel dwellers rampaged through the township.
Elsewhere, in 1928, Amelia Earhart became the first woman to fly across the Atlantic. Wilmer Stultz piloted the Fokker F.VII aircraft, Earhart kept the flight log. They arrived in Wales 20 hours and 40 minutes later.
It’s World Day to Combat Desertification and Drought. |
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sMINNING STOCKS SURGE, OIL SLIDES ON PEACE DEAL OPTIMISM
South African markets rallied sharply after a US–Iran framework peace agreement boosted global risk appetite and pushed oil prices lower. The Rand strengthened to around R16.16/$, gaining more than 0.7%, while the JSE All Share Index rose over 3% in early trade on Monday. The Rand gave up some its gains in early trade this morning after yesterday's public holiday. The oil price is currently trading under $80 a barrel.
Earlier, mining stocks led gains, with the precious metals index jumping more than 8% as gold climbed 2.3% and platinum nearly 4%. Brent crude dropped over 4.5%, reflecting expectations of improved shipping conditions through the Strait of Hormuz.
The move supported banks, retailers and other domestic-focused sectors, while energy producers and coal miners came under pressure. Lower fuel expectations eased inflation concerns, improving sentiment across emerging markets as the rally reflected a broad shift into risk assets as investors priced in reduced geopolitical tension and stronger global growth prospects. (SOURCE: BDLive/Bloomberg) |
SAMSUNG'S DURBAN CAMPUS TO ACCELERATE TECH SKILLS PUSH
Samsung Electronics has launched its Innovation Campus programme at the Durban University of Technology, aiming to address South Africa’s critical shortage of digital skills. The initiative will train 60 students in coding, Python programming and artificial intelligence over the coming years. The programme responds to an estimated 118 000 unfilled ICT job vacancies nationwide, many of them entry-level roles suitable for young graduates. It seeks to bridge the gap between academic learning and industry needs by focusing on Fourth Industrial Revolution technologies. DUT says the partnership will improve employability and foster tech entrepreneurship, helping students build practical, job-ready digital skills for the evolving economy. (SOURCE: Engineering News)
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DURBAN TO HOST US-AFRICA TRADE BODY LAUNCH
The US-Africa Trade Commission will launch its South African chapter at a Durban summit on 18 June 2026, aimed at deepening trade, investment and institutional ties between Africa and the United States. The event will also formalise the appointment of Gostina Malope as country director for South Africa. The initiative positions South Africa as a key gateway for continental commerce, given its advanced manufacturing, financial services and logistics sectors. The new chapter is expected to act as a permanent bridge between public and private stakeholders, supporting investment flows in sectors such as agribusiness, renewable energy, infrastructure and digital innovation. The summit will focus on trade facilitation, industrial cooperation and regional integration across SADC markets. (SOURCE: FreightNews)
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BRICS BANK R16 BILLION LOAN TO BOOST METRO INFRASTRUCTURE
South Africa has secured a R16 billion loan from the New Development Bank to help improve infrastructure across eight metropolitan municipalities. Approved in Shanghai last week, the funding will support critical upgrades to water, electricity and waste management services. The loan is expected to address mounting infrastructure challenges that have affected service delivery and economic growth in major urban centres. Improved municipal systems could enhance reliability, reduce losses and strengthen cities’ ability to attract investment. The financing underscores the growing role of Brics institutions in supporting development projects, while providing municipalities with much-needed resources to modernise ageing infrastructure and improve the quality of life for millions of residents. (SOURCE: BDLive)
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LOYALTY PROGRAMMES TOAST 85% CONSUMER REACH
South Africa has evolved into a mature loyalty market, with 85% of economically active consumers now using loyalty programmes, up from 82% a year earlier, according to the 2025/26 Truth & BrandMapp Loyalty Whitepaper. Loyalty schemes influence purchasing decisions for 77% of grocery shoppers, 51% of fuel buyers and 26% of restaurant and coffee-shop customers. Industry experts say the challenge is no longer attracting members but using data effectively to change behaviour and drive growth. Businesses are being urged to integrate loyalty systems with customer, sales and analytics platforms to improve responsiveness, measure returns and strengthen customer engagement in an increasingly competitive market. (SOURCE: Bizcommunity)
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VODACOM CEO EARNS R137 MILLION, R23 300 MINIMUM WAGE SET
CEO Shameel Joosub received total remuneration of R137.4 million in Vodacom’s 2026 financial year, driven largely by long-term incentive awards worth R74.6 million. After tax of nearly R62 million, his take-home pay amounted to about R75.6 million. His package included guaranteed pay of R19.4 million, performance bonuses of R26.9 million and security-related benefits worth R7.7 million. Vodacom’s remuneration committee said strong operational performance justified the awards, with long-term incentives paying out at 313% of target. Meanwhile, the company raised its minimum annual salary for permanent South African employees to approximately R280 000, more than R23 300 a month, from July 2026. (SOURCE: Moneyweb)
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PETRA TO SHED 1 700 JOBS AS DIAMOND LUSTRE FADES
More than 1 700 jobs are at risk at diamond miner Petra Diamonds as a prolonged slump in global diamond demand forces drastic restructuring measures. The company has placed its struggling Finsch mine under business rescue, highlighting the severity of the crisis facing the sector. The National Union of Mineworkers (NUM) has called for urgent government intervention, warning that large-scale retrenchments could devastate mining communities already under economic strain. The downturn reflects broader challenges in the diamond market, including weaker consumer demand and changing industry dynamics. Stakeholders fear further job losses if market conditions fail to improve in the months ahead. (SOURCE: BDLive)
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WESBANK SHIFTS GEAR ON NEW MOBILITY TRENDS
WesBank is reshaping its offerings to align with changing mobility trends, including electric vehicles, shared transport and flexible vehicle-use models, as South African consumers move away from traditional car ownership. The shift reflects growing affordability pressures and rising demand for more adaptable mobility solutions. The financial services provider is focusing on Mobility-as-a-Service models, where vehicles are managed across their full lifecycle, including financing, usage and disposal. This approach reduces risk for consumers while improving access to newer technologies such as hybrid and electric vehicles. The strategy also responds to shifting brand preferences, with cost and total ownership increasingly driving vehicle choice in a rapidly evolving automotive market. (SOURCE: Engineering News)
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45% CENTRAL BANKS RUSH TO BUILD GOLD RESERVES
A record 45% of central banks surveyed said they plan to increase their gold holdings over the next 12 months, up from 43% last year and the highest level since the survey began. Of the 76 central banks surveyed, only 1% expect to reduce their gold reserves. Meanwhile, 89% believe global central bank gold holdings will continue rising over the next year. Central banks have purchased an average of 1,000 tonnes of gold annually over the past four years, double the average of the previous decade. The survey also found that 84% expect gold to account for a larger share of reserves within five years, reflecting growing concerns about geopolitical risks and reserve diversification. (SOURCE: Bloomberg)
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MINES RISK CONTINUE TO THREATEN HORMUZ SHIPPING
The planned reopening of the Strait of Hormuz has been clouded by concerns over naval mines and maritime security risks left behind after the recent Iran conflict. Although a ceasefire agreement has eased fears of a prolonged disruption to global energy supplies, shipping companies remain cautious about resuming normal operations through the strategic waterway. The Strait handles roughly 20% of the world’s oil trade, making its safe reopening critical for global markets. Industry experts warn that clearing mines and verifying shipping lanes could take weeks, delaying a full return to normal traffic despite lower oil prices and improving geopolitical sentiment. (SOURCE: Reuters)
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Confidence isn't optimism or pessimism, and it's not a character attribute. It's the expectation of a positive outcome.
Rosabeth Moss Kanter |
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| Dollar | R16.20
| - 0.25% | | Pound | R21.73
| - 0.22% | | Euro | R18.80
| - 0.23% | | Yen | 0.101110 |
| | Yuan | R2.40
| - 0.24% | | Bitcoin | $ 65 597.40
| - 0.14% |
These rates are correct at time of going to press. | | Platinum | $ 1 788.40
| - 0.74% | | Gold | $ 4 330.39
| - 0.05% | | Oil | $ 78.19
| - 1.53% | | All Share | 115 556.25
| + 2.51% | | Repo | 7.00 | | | Prime | 10.50 | |
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