| CHAMBER MEMBERSHIP PUTS TRUST IN EXPERIENCED LEADERSHIP |
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Some of the PMCB board directors at last night’s AGM were (ltr) Mark Gutridge, Harry Shaw, CEO Melanie Veness, Dr John Buyers, Sharryn Middleton, Janet Channing, Thirusha Govender, Bonga Ndaba, Raj Seeparsad and Kervin Budram.
Members of the Pietermaritzburg and Midlands Chamber of Business last night entrusted the leadership of the organisation to directors with experience at the annual general meeting. Six of the seven directors were returned - incumbent President John Buyers (Preformed Line Products), First Deputy President Bonga Ndaba (BSN Operations) and Second Deputy President Harry Shaw (Shaw & Wall) as well as Kervin Budram (Aberdare Cables), David Poole (Austen Smith Inc Attorneys) and Mzi Tyhokolo (SLG). Also elected for the first time was municipal rating expert Janet Channing (MetGovis and BPG Mass Appraisals).
The rotationally-elected directors will join Thirusha Govender (ControlPro), Ali Engelbrecht (AliCat's Business Services), Mark Gutridge (Brink Towing Systems), Kevin Smith (Maritzburg College), Raj Seeparsad (Raj Seeparsad HR & Labour Consultant), Sharryn Middleton (Re/Max Midlands) and Themba Ndhlovu (SBD Business Systems) on the board. |
| R450 MILLION WASTEWATER WORKS TO TRANSFORM MPOPHOMENI |
The R450-million Mpophomeni Wastewater Treatment Works (WWTWs) has officially been commissioned, set to benefit over 27 000 households in Mpophomeni, Khayelisha, and nearby communities. Designed to treat six million litres per day - expandable to 12 million - the plant will improve sanitation, protect wetlands, and deliver high-quality effluent that meets national water standards. The project will create consistent jobs through the Expanded Public Works Programme and promote youth employment. It includes a 7-km effluent pipeline and wetland rehabilitation. (SOURCE: Building & Construction News)
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| OLD MUTUAL WARNS AGAINST SOPHISTICATED PHISHING SCAM |
Old Mutual has warned of highly persuasive fake emails from @mobius365.in impersonating its Money Account Team. These phishing messages urge recipients to sign a “FICA TAX PACK” under the guise of SARS compliance. Old Mutual warned customers not to click links or share personal info and to verify any suspicious or unusual requests directly with Old Mutual. Suspicious emails should be reported to CyberFraudWatch@oldmutual.com.
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1993: The Motsuenyane Commission concluded that the ANC was guilty of abuse at some exile camps, confirming previous findings by the Skweyiya Commission.
Elsewhere, in 1903, the Ford Motor Company sold its first car, the Ford Model A.
To those politicians who love empty talk, wherever they are, today is all about them, on International Yada-Yada Day.
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AG RECOVERS R4.5 BILLION IN PUBLIC FUNDS AS POOR GOVERNANCE WEIGHS
Auditor-General Tsakani Maluleke has recovered R4.5 billion in irregular public expenditure over five years, but warns South Africa still faces a governance crisis. Her latest report highlights R8.74 billion lost across 285 municipalities due to fraud, non-compliance, and poor oversight. Despite new legal powers and some progress - such as fewer audit disclaimers - Maluleke says basic management is lacking.
Municipal failures remain severe, with only Cape Town receiving a clean audit. The City of Johannesburg faces scrutiny for R972 million in irregular tenders. Maluleke calls for stronger accountability, skilled leadership, and urgent national reforms to tackle entrenched mismanagement and financial dysfunction. (SOURCE: Moneyweb)
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SANRAL INKS R7 BILLION DEAL FOR ROADS UPGRADE
Sanral has signed a R7 billion loan agreement with the New Development Bank (NDB) to fund critical road infrastructure upgrades across South Africa. The funding will support toll road projects, including sections of the N1 and N3 highways, representing over R12.7-billion in investment. More than R3.8-billion is earmarked for small businesses and R1-billion for labour-based inclusion, aiming to create around 6,600 jobs. The locally denominated loan shields against currency volatility, with NDB also providing project implementation oversight. Sanral will seek additional funds from domestic and global investors to reach its R16.5-billion borrowing cap approved by National Treasury. (SOURCE: Engineering News) |
SOUTH AFRICAN PASSPORT BREAKS INTO GLOBAL TOP 50
South Africa has rejoined the top 50 of the Henley Passport Index for the first time since 2014, climbing from 53rd to 48th place in 2025. The index ranks passports based on visa-free access to 227 destinations, using data from IATA and Henley & Partners. While South Africa now offers visa-free access to 103 countries, recent losses - like Ireland and Nigeria - highlight ongoing challenges. The rise is largely due to other nations falling in the rankings, rather than expanded access. Singapore remains first, followed by Japan and South Korea. Despite setbacks, South Africa’s passport remains among the stronger in Africa. (SOURCE: BusinessTech) |
EX-STEINHOFF ENTITTY DUMPS PEPKOR STAKE FOR R28 BILLION
Ibex Investment Holdings, formerly Steinhoff International, has sold its entire 28% stake in South African clothing retailer Pepkor for R28 billion ($1.5 billion) through an accelerated book-build. Roughly one billion shares were priced at R25.45 each. The sale is part of Ibex’s ongoing efforts to reduce debt following Steinhoff’s collapse after a 2017 accounting scandal. Ibex had gradually reduced its Pepkor holdings over the years, with the retailer owning brands such as Pep and Ackermans. The rebranding to Ibex in 2023 marked a major step in the company’s post-scandal restructuring and legal resolution efforts. (SOURCE: Bloomberg) |
DEFY TO SPEND R500 MILLION ON EXPANDING SA BUSINESS
Home appliance maker Defy will invest R500-million in its South African operations over the next five years, boosting local manufacturing, innovation, and energy efficiency. The investment builds on R2.6-billion already spent over 15 years and supports expansion at its Durban and eZekheni facilities. CEO Mustafa Soylu said Defy aims to develop affordable, sustainable appliances tailored for South African needs, including solar-powered and energy-efficient models. The company’s local plants now serve as an export hub to 35 African countries. Despite ongoing logistical challenges, Defy remains committed to local job creation, product innovation, and powering Africa’s industrial growth from within the continent. (SOURCE: Engineering News |
... AND GETS ANTI-DUMPING RELIEF FOR CHINESE, THAI WASHING MACHINES
SA Imposes Anti-Dumping Duties on Chinese, Thai Washing Machines South Africa has imposed provisional anti-dumping duties of 8% to 67% on top-load washing machines imported from China and Thailand, following evidence of price undercutting and harm to local manufacturer Defy. The International Trade Administration Commission (Itac) found that dumped imports - particularly machines between 10kg and 17kg capacity - rose sharply between 2023 and 2024, threatening domestic productivity and growth. The duties, in effect from 18 July for six months, aim to prevent further injury as the investigation continues. Similar measures have recently been imposed on Chinese and Thai steel and tyres, indicating a growing crackdown on unfair trade practices. (SOURCE: Moneyweb) |
CLIMATE FUND TO ISSUE WILDLIFE BONDS IN ALL 54 AFRICAN COUNTRIES
The Global Environment Facility (GEF), the world’s oldest climate fund, aims to launch wildlife conservation bonds in all 54 African nations. Building on successes like Rwanda’s chimpanzee and Madagascar’s lemur bonds, GEF plans to invest $150 million, leveraging up to $1.5 billion in funding. These bonds finance species and ecosystem protection without adding to government debt. As donor aid shrinks, GEF is urging fund replenishment ahead of its next cycle, hoping to scale efforts from emblematic species to entire ecosystems like wetlands - boosting conservation impact while appealing to investors focused on measurable environmental returns. (SOURCE: Bizcommunity) |
MAPUTO PORT VOLUMES DROP 14% ON UNREST, DISRUPTIONS
Mozambique’s Maputo Port saw a 14% year-on-year decline in cargo volumes during the first half of 2025, handling 14 million tons amid political unrest and trade disruptions. The downturn was driven by protests following disputed elections and reduced ferrochrome exports from South Africa due to persistent electricity constraints. The port, operated by a consortium including DP World, is vital for Mozambique’s forex earnings and serves as a key route for South African coal and chrome. CEO Osório Lucas reported a strong recovery since May, with volumes now surpassing last year’s levels, suggesting a potential rebound underway. (SOURCE: Bloomberg) |
NIGERIAN ECONOMY GROWS 30% AFTER GDP REBASE
Nigeria’s economy is now 30% larger than previously estimated after the country rebased its GDP calculations, updating the base year to 2019 and incorporating key sectors like digital services, pensions, and the informal economy. GDP for 2024 stands at ₦372.8 trillion ($243 billion), well above the IMF’s earlier $187.6 billion forecast. The revision improves fiscal indicators like debt-to-GDP ratios. Despite the growth, Nigeria remains Africa’s fourth-largest economy, behind South Africa, Egypt, and Algeria. Economic growth slowed to 3.1% in Q1 2025, with the oil sector expanding 1.87% and non-oil growth at 3.2%. Agriculture showed stagnation. (SOURCE: Bloomberg) |
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The quieter you become, the more you can hear.
Ram Dass |
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| Dollar | R17.56 | - 0.08% | | Pound | R23.76 | - 0.20% | | Euro | R20.61 | + 0.01% | | Yen | 0.119659 |
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These rates are correct at time of going to press. | | Platinum | $ 1 448.50 | - 1.09% | | Gold | $ 3 422.32
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