| KZN ECONOMY PROJECTED TO OUTPACE NATIONAL GROWTH |
The KZN economy grew 1.4% in 2025 to outpace growth nationally at 1.1%, a trajectory it hopes to maintain with an expansion of 1.6% going forward, said Finance MEC Francois Rodgers at Tuesday's presentation of the province’s R168.2 billion budget. The 2026/27 budget aims to restore confidence and boost jobs on the back of stabilising the province’s finances after years of strain, with improved revenue collection and increased allocations from National Treasury. Centered on fiscal stability and renewal, the budget ensures no department faces funding cuts with 80.5% of the total allocation dedicated to the social services sectors: Education, Health, and Social Development. Click here to download a snapshot of the budget’s key elements.
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| TRADE HUB STRIKES BLOW FOR CITY AS REGIONAL GROWTH ENGINE |
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(top, ltr) Nikolaos Archontis (GIZ), Zuzana Miščikov (SlovakAid), Gabriela Barzíková (SlovakAid) and Lea Derr (GIZ). Msunduzi Municipality Municipal Manager Simon Mndebele and PMCB Deputy President Bonga Ndaba, and below (ltr) PMCB CEO Melanie Veness with Trade Hub Manager Lucrisha Polton and Nerosha Govender (Nature Connect), Annelien Cunningham (Mesopartner), and Sugeshnee and Colin Naidoo of Enermous Tapes. See here for the full gallery of pictures.
The Pietermaritzburg & Midlands Chamber of Business has launched its ground-breaking Trade Hub to strengthen entrepreneurship, SMME growth, and regional trade in KZN. Supported by the European Union and international development partners including GIZ, BMZ, Expertise France, Enabel, SNV, and SlovakAid, the hub combines physical and digital platforms to provide practical guidance on business setup, financial management, compliance, market access, and trade readiness.
Led by Trade Hub Manager Lucrisha Polton, the initiative consolidates mentorship, networking, and enterprise development services and links emerging businesses with larger enterprises to foster sustainable growth. By reducing fragmentation in support services, the hub aims to advance inclusive economic growth and position Pietermaritzburg as a key node in the promotion of trade.
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| NEW ECONOMIC BAROMETER TRACKS PATCHY REFORM PROGRESS |
A new economic barometer launched by the Bureau for Economic Research and its Impumelelo Economic Growth Lab aims to track whether structural reforms are improving South Africa’s economy. Early results show uneven progress: GDP growth rose from 0.5% in 2024 to 1.1% in 2025, largely driven by household consumption. Investment has begun recovering, but weak manufacturing, mining and electricity output continue to restrain growth. Click here for more information.
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1868: Basutoland, now Lesotho, became a British territory.
Elsewhere, in 1930, Mahatma Gandhi, leader of the Indian nationalist movement, began the Salt March, a non-violent protest against British rule.
The Mideast war makes a mockery of the International Awareness Day for Avoidable Deaths. Also observed today is World Kidney Day and World Glaucoma Day.
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SMMES BUCKLING AS LATE PAYMENTS BALLOON TO R12.4 BILLION
New figures from National Treasury reveal a worsening late-payment crisis threatening small businesses. By the end of Q2 2025, 95 399 invoices older than 30 days - worth R12.4 billion - remained unpaid by national and provincial departments. That represents a 17% increase, or 13 663 more unpaid invoices, compared with 81 736 in the previous quarter. The value of overdue bills also rose by R663 million.
SMME lender Business Partners warns that prolonged delays destabilise companies operating on tight margins. Area manager Lawrance Ramotala said late payments force businesses to delay supplier payments, salaries and expansion plans, weakening supply chains and threatening employment across key sectors including retail, manufacturing and services. (SOURCE: Engineering News)
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GOVERNMENT SOOTHES FUEL RISKS, WARNS OF HEFTY APRIL HIKES
South Africa’s Department of Mineral and Petroleum Resources says there is no immediate risk of fuel shortages despite rising global oil prices linked to tensions around the Strait of Hormuz. Officials say local production from NATREF, Astron Energy and Sasol’s Secunda plant, combined with imports, should stabilise supply. However, analysts warn refinery closures have increased reliance on imported fuel. Brent crude briefly topped $100 a barrel as the Middle East conflict escalated. The government cautioned motorists to expect steep pump-price increases in April, with petrol potentially rising more than R3 per litre and diesel by over R5. (SOURCE: BDLive)
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… AND FLYSAFAIR ADDS FUEL SURCHARGE AS COSTS SOAR 70%
FlySafair will introduce a temporary fare surcharge from today as surging jet-fuel prices squeeze airline margins following the Middle East conflict. CEO Kirby Gordon said the move is a short-term response rather than a blanket fare increase. The surcharge will apply to flights departing until 12 May while the airline monitors fuel markets. Jet A1 prices at South Africa’s coastal airports have jumped about 70% since the conflict began, adding roughly R35 000 in costs per flight. Fuel accounts for nearly half of the carrier’s direct operating expenses, leaving the airline little choice but to pass some pressure to passengers. (SOURCE: Bloomberg)
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… AS SAA PUTS FAITH IN EXISTING SUPPLY DEALS
South African Airways says it has secured enough jet fuel to keep its full flight schedule intact despite rising tensions in the Middle East, reassuring passengers and investors worried about potential oil supply shocks to aviation. The state-owned carrier said long-standing supply agreements with licensed providers at every airport it serves ensure continuity. CEO John Lamola said the airline routinely plans for geopolitical volatility that can push fuel prices higher. With diverse supply channels and risk planning in place, the airline expects no immediate disruption and aims to avoid sudden fare increases while maintaining reliable operations across its network overall. (SOURCE: BDLive) |
BIG 5 BANKS BLEED R200 BILLION ON MIDEAST TURMOIL
South Africa’s five biggest banks have lost more than R200 billion in market value since conflict erupted in the Middle East, rattling investors and exposing major institutional holdings. The biggest losses were recorded by FirstRand (R52 billion), Capitec (R53 billion) and Standard Bank (R50 billion), followed by Absa (R30 billion) and Nedbank (R22 billion). The Public Investment Corporation, a major shareholder in the sector, is heavily exposed. Analysts point out that fears of prolonged war disrupting oil supply have weakened the Rand and fuelled inflation concerns. Rising fuel and food prices could squeeze consumers and increase debt stress. Despite the sell-off, analysts note the economy’s fundamentals remain stronger than during previous global shocks. (SOURCE: BDLive) |
TONGAAT CLOSED-MILL CRISIS AHEAD OF HARVEST SEASON
Embattled sugar giant Tongaat Hulett faces a ticking time bomb as its mills must open soon for the 2025/26 sugarcane harvest, but most bank accounts remain frozen amid a provisional liquidation application. With the hearing set for 16–17 April, growers risk losing market access, putting thousands of jobs and rural incomes in KZN at stake. CEO of SA Canegrowers, Thomas Funke, warns that unfunded liquidation or temporary stoppages could devastate the sector. R2.3-billion funding from Industrial Development Corporation may be insufficient if delays continue, leaving sugarcane unprocessed. (SOURCE: GroundUp)
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… AS R1.5 BILLION CHEAP IMPORTS THREATEN SECTOR
South Africa’s sugar industry has suffered a R1.5 billion blow as cheap imports flood the local market, displacing domestic production and threatening rural jobs. In January 2026 alone, 24,600 tonnes of deep-sea sugar imports entered the country - more than the combined totals for 2020, 2021 and 2022. Imports surged through 2025, reaching nearly 200000 tonnes as low global prices, a stronger rand and weak tariffs encouraged traders. Industry body SA Canegrowers warns displaced local sugar costs producers more than R7,000 per tonne. The sector, supporting over a million livelihoods in KZN and Mpumalanga, is urging government to strengthen tariffs and halt Brazilian imports. (SOURCE: BDLive) |
NEW US AMBASSADOR DANGLES INVESTMENT SUMMIT
Incoming US ambassador Leo Brent Bozell III has unveiled an Investment Accelerator initiative aimed at helping South African firms expand into the American market. The programme will support companies with investment counselling, regulatory guidance and introductions to state development agencies. A delegation of South African business leaders will also attend the SelectUSA Investment Summit in Washington, DC from 3-6 May. Organised by the US Department of Commerce, the summit connects global investors with officials from all 54 US states and territories to encourage new projects and partnerships. (SOURCE: Engineering News)
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… AND INVOKES DIPLOMATIC IRE OVER POLICY COMMENTS
South Africa has issued a formal diplomatic rebuke to US ambassador Leo Brent Bozell III after remarks criticising government policies and foreign relations. Officials from the department of international relations & co-operation summoned Bozell to explain comments made at a Hermanus conference, where he warned Washington was losing patience with South Africa and suggested US companies could divest. Government described the remarks as undiplomatic and defended policies such as black economic empowerment and land reform. International relations minister Ronald Lamola reaffirmed BEE as vital to addressing historical inequality. Bozell later said he respects South Africa’s judiciary and reportedly apologised during the meeting. (SOURCE: BDLive)
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NIGERIA URGES GULF OIL INVESTMENT AMID CRISIS
Nigeria is urging Gulf oil producers to invest in its energy sector to diversify global supply as conflict in the Middle East disrupts shipments. Foreign minister Yusuf Tuggar said instability around the Strait of Hormuz highlights the need for alternative sources of crude and gas. Nigeria has increased production to about 1.7-million barrels a day since 2023 under President Bola Tinubu. Analysts warn investment faces regulatory delays and infrastructure risks. However, Nigeria expects domestic refining capacity to strengthen supply, particularly with the new Dangote Refinery producing up to 650 000 barrels daily. (SOURCE: Reuters)
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… AS OIL SWINGS WILDLY ON RELEASE OF GLOBAL RESERVES
Oil prices fluctuated near $87 a barrel after reports the International Energy Agency is considering a record emergency release of strategic reserves to calm markets rattled by the Iran war. The proposed release could exceed the 182-million-barrel intervention following the Russian invasion of Ukraine. Crude has been highly volatile as shipping through the Strait of Hormuz slows sharply, threatening about a fifth of global oil flows. The Group of Seven nations have asked the agency to prepare contingency scenarios. Analysts say a release could temporarily ease prices but signals growing concern over prolonged supply disruptions. (SOURCE: Bloomberg)
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TO HAVE AND TO HOLD, AND RUN FOR DEAR LIFE
Marriage vows got a sporty twist at the annual UK Wife Carrying Race, where couples quite literally put “to have and to hold” to the test. Competitors sprinted 380 metres over hay bales and water hazards while carrying partners upside-down in the famous Estonian hold. Victory went to Finnish pair Teemu Touvinen and Jatta Leinonen, who finished in 1 minute 45 seconds and won a barrel of ale. The quirky race, inspired by a 19th-century Finnish legend, encourages humour, costumes and strong backs. Organisers note participants don’t have to carry their own spouse - though borrowing someone else’s may require a strong marriage… and excellent balance. (SOURCE: AP)
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You don't have to see the whole staircase, just take the first step.
Martin Luther King, Jr. |
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