| AI MANIA IS BIG ON PROMISES, BUT BIGGER RISKS LOOM LARGER |
| KZN PUBLIC WORKS FIRST TO OPEN PROPERTY DATABASE |
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(ltr) Hlanganani Gumbi (Chief of Staff), MEC Martin Meyer, John Steenhuizen (Deputy Minister ditc) and Dr Vish Govender (Head of Department) at the presentation.
The KZN Department of Public Works has audited and listed more than 10 067 provincial properties, becoming the first in South Africa to make its property information accessible through a centralised online database. Launched on 7 October at its Pietermaritzburg HQ, the KZN Property Finder replaces cumbersome paper-based processes, allowing users to search for properties and facilities, view details and submit enquiries. Developed in-house at no cost to taxpayers, the platform is intended to improve transparency, public oversight and planning, while creating opportunities for SMMEs to identify potential business premises and land.
The department has acknowledged a legacy of poor property management and says it is determined to improve accountability. Around 10% of provincial buildings are reportedly unused, while 40% of its land lies vacant. Some buildings have also been hijacked, highlighting the need for urgent action.
The initiative forms part of a joint programme involving Public Works and the Department of Trade, Industry and Competition. With rates bills increasingly unaffordable, the department says public support will be essential to unlocking the value of provincial assets and improving their use for the benefit of communities.
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| FINAL CALL: SMES TO APPLY FOR FREE AFRICAN TRADE SUPPORT |
SMEs have until 15 October to apply for free support to expand into African markets under the ICC TradeRoots Africa programme. Running from November 2026 to August 2027, the programme offers assistance with trade knowledge, finance, logistics, customs, digital tools, mentorship and business development. The first tier will train 1 000 African SMEs, while 200 will receive advanced support and 50 tailored assistance with export plans, buyers and transactions. Applicants must be majority African-owned, legally registered in an AfCFTA country, operating for at least two years and have annual turnover above R80 000. Export experience is not required. Click here to apply.
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1992: The Goldstone Commission launched its investigation into the 7 September Bisho Massacre.
Elsewhere, in 1492, two months after setting sail from Spain, Christopher Columbus stepped foot on what is now the Bahamas.
It’s time for the humble egg to be recognised in all its versatility, on World Egg Day. |
ECONOMISTS WARN OF LOOMING STAGFLATION
South Africa faces a growing risk of stagflation, with rising inflation and weakening economic growth prompting economists to warn of tougher conditions ahead. A September survey of 43 public- and private-sector economists found no further interest rate hikes expected for the remainder of 2026, following September’s increase that lifted the prime lending rate to 10.75%.
Lower consumer spending could help contain inflation, but it also threatens economic growth. Employment growth forecasts for 2026 have halved from 1% to 0.5%, raising concerns about increasingly exclusionary growth, slower wage increases and weaker household spending.
With consumption accounting for about two-thirds of GDP, the slowdown could constrain recovery. However, economists say the economy has shown resilience despite Middle East tensions and rising oil prices. (SOURCE: Moneyweb)
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FALSE SOCIAL MEDIA CLAIMS FUEL XENOPHOBIC VIOLENCE, 30 ARRESTED
False social media posts claiming a Constitutional Court ruling granted asylum seekers refugee status or citizenship have spurred xenophobic violence in Soweto and Durban, with 30 people arrested, 25 in KZN and five in Gauteng. Vehicles were torched and local and foreign-owned businesses looted. Justice Minister Mmamoloko Kubayi said the Inter-Ministerial Committee on Migration will seek a supervisory order and a suspension period to build Home Affairs capacity to implement the 7 July judgment. An online intention-registration and appointment system is planned by 10 November, with refugee reception centres moving to Beitbridge in December. The South African National Defence Force has been deployed in KwaZulu-Natal, and a High Court hearing is set for 29 October. (SOURCE: BDLive/Inside Politics)
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CALL TO ACCELERATE STRATEGIC REFINING INVESTMENT
The Central Energy Fund has called for a national conversation on South Africa's refining future, warning that rising fuel imports threaten energy security and industrialisation. Chairperson Ayanda Noah said imports now meet about 61% of domestic demand, up from 22% in 2019. She urged development finance institutions to weigh broader economic returns, pointing to the proposed 400 000 barrels per day, R115 billion SANPC refinery, which could create 12 500 construction and 2 850 permanent jobs. She also stressed reviving PetroSA's Mossel Bay operations. COO Sifiso Msabala said strategic fuel stocks need matching investment in storage, logistics, financing and governance. (SOURCE: Engineering News)
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NEW RAF CEO VOWS TO RESTORE TRUST AND STABILITY
Waseem Carrim takes over as Road Accident Fund (RAF) CEO on 1 November, becoming its fifth chief executive in just over a year. He inherits an embattled institution with liabilities exceeding R400 billion and R22.18 billion owed on settled but unpaid claims. The former NYDA and NSFAS CEO promises to tackle fraud, corruption, litigation and claims backlogs while rebuilding relationships with claimants, lawyers and medical professionals. His longer-term priorities include reforming the RAF’s financial model and supporting legislation introducing a no-fault compensation system. Carrim, credited with nine consecutive clean audits at the NYDA, says stable leadership and accountability are essential. His first 100 days will focus on stabilisation and developing a longer-term reform strategy. (SOURCE: Moneyweb)
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EX-TELKOM CEO MASEKO COUGH UP R85 000 IN TAX FINES
Former Telkom CEO Sipho Maseko was convicted in Palm Ridge Magistrate's Court on 9 October in his representative capacity as a director of five companies that failed to submit 85 tax returns to Sars. The PAYE, VAT and corporate income tax returns spanned several years. The entities paid an R85 000 admission-of-guilt fine and have since filed all outstanding returns. The case forms part of Project Honey Badger, led by the NPA, Sars and the DPCI. Sars opened the case in September 2025, and the NPA said the conviction reinforces tax compliance obligations. (SOURCE: News24)
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RANSOMWARE GANG TARGETS MORE SA ORGANISATIONS
The Gentlemen, the group behind June's MIP Holdings breach, has listed LegalWise, Samwumed and Edcon on its leak site, with countdown timers expiring on 9 October. The listings contain no sample data, and TechCentral could not verify the group holds their data. Only LegalWise has confirmed involvement in the breach. Intruders took about 400 000 records from MIP, which paid a ransom for data destruction, yet Hollard policyholders' details were later published. The Information Regulator says ransom payment does not resolve Popia compliance. Check Point ranks the group second most active globally, with over 400 victims. (SOURCE: TechCentral)
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UK CLIMATE FUND UNLOCKED R1.65 BILLION FOR 43 PROJECTS IN SA
The UK-backed Climate Finance Accelerator (CFA) has unlocked $100 million (about R1.65 billion) in funding for 43 South African businesses and projects, GreenCape's Lisa Johannson told the 2026 Investor Engagement Event in Cape Town. Those firms have since raised a further $30 million. The CFA disburses no funds, instead equipping ventures to become bankable and attract private capital. Operating in ten countries, it has mobilised $530-million for 238 companies. This year, 146 South African applications yielded 82 expert-reviewed entries and eight finalists, including Stroom, Novo Moto and TERRAGRN. (SOURCE: Engineering News)
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AIRLINE BODY CALLS FOR AVIATION REFORMS TO BE IMPLEMENTED
Airlines Association of Southern Africa CEO Aaron Munetsi told the group's 56th Annual General Assembly in Mauritius that African governments must stop commissioning strategies and start executing them. He said commercial aviation could drive intra-African trade, tourism and growth, especially with a middle class forecast to reach about 300 million by 2030. AASA's five urgent priorities are non-negotiable safety, lower fees and taxes, modernised infrastructure, full implementation of the Single AfricaEngineering News)
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... AS US AGENCY TARGETS MORE AFRICAN EQUITY INVESTING
The US International Development Finance Corp (DFC) plans more direct equity investments, including in Africa and critical minerals, as Washington counters China's supply-chain dominance. Africa head Vibhuti Jain said equity could supplement or replace other instruments where strategically significant, though debt, guarantees and political risk insurance will dominate for now. The DFC has more than $14 billion (about R231 billion) committed across Africa, with over $3 billion (roughly 21%) in critical minerals. In September, it pledged up to $155 million to African digital infrastructure provider WIOCC, its largest-ever equity commitment. It also backs a Mozambique graphite mine and rehabilitation of the Lobito corridor. (SOURCE: Reuters)
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US-SANCTIONED TYCOON TO HEAD ZIMBABWE ECONOMIC DEVELOPMENT
President Emmerson Mnangagwa has appointed businessman Kudakwashe Tagwirei a minister of economic development and investment promotion, despite US and UK sanctions over alleged corruption. A presidential adviser, Tagwirei built his fortune through fuel-supply contracts, mining acquisitions and agricultural deals, and is accused of using opaque dealings and political connections to expand his empire. The appointment follows his backing of constitutional changes that could extend Mnangagwa's time in office. He will oversee state-owned enterprises, including the Mutapa Investment Fund, holding mining assets he once owned. Analysts warn Western investors face compliance and legal risks, possibly pushing Zimbabwe towards alternative capital. (SOURCE: Bloomberg)
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You’re only as young as the last time you changed your mind.
Timothy Leary |
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