| CHAMPAGNE BEHEADINGS CAP MEMORABLE ALVI'S DRIFT TASTING |
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(ltr) Nick Kieck (VPP Distributors), Junel van der Merwe (Alvi’s Drift Winery), Ingo Schröder, and Brenda Myburgh.
The single biggest advantage of a wine tasting event, apart from the wine itself, is tapping the knowledge of the people intimately familiar with an estate. A recent tasting of Alvi's Drift Winery’s offerings, for example, had Junel van der Merwe, the other half of doctor-turned-winemaker Alvi, entertaining guests with her knowledge and experience.
Laced with humour and quirky insights, Van der Merwe presented nine wines in four flights as well as a selection of its 221 range across several varietals. Propitiously, the offerings included a pinotage, but not the award-winning wine shortlisted on the 2025 Absa Top 20 Pinotage. Coincidentally, Pinotage is celebrating the centenary of South Africa's signature variety - a cross between Pinot noir and Cinsaut.
A highlight was Van der Merwe demonstrating the sabrage technique, the expensive way of opening champagne with a swift strike of a sabre, much to the delight of guests. Consensus was that the Alvi’s Drift event was one of the most memorable tastings hosted by Ingo Schröder and Brenda Myburgh at the Hills Wedding Venue and Coffee Shop.
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| BRACE FOR ANOTHER DRENCHED SUMMER IN KZN |
Last summer was wet and this year promises more of the same, according to the weather prophets. South Africa’s summer rainfall outlook has improved as the likelihood of a La Niña weather system forming before year-end rises to 71%, according to global forecasters. La Niña typically brings wetter conditions to the grain belt, supporting crops and boosting dam levels. The forecast follows last season’s strong maize harvest of 15.8 million tonnes, 23% higher than drought-hit 2023. However, above-normal temperatures and localised dry spells may temper agricultural gains. (SOURCE: Daily Maverick)
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| LAST CHANCE FOR BUSINESS TO CHALLENGE R30/HOUR MINIMUM WAGE |
1976: The SA Navy took possession of two combat-ready French submarines.
Elsewhere, in 1949, Mao Zedong proclaimed the establishment of the People's Republic of China.
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R50 BILLION PORT OF GAUTENG PROJECT TO CUT N3 TRUCK TRAFFIC
The Port of Gauteng project is set to transform South Africa’s freight system by shifting up to 30% of container traffic from road to rail on the Durban–Johannesburg corridor. Developed by NT55, the R50 billion facility will span 1 400 hectares south of Johannesburg, featuring flat rail alignments, integrated green systems, and advanced container terminals.
Expected to begin in 2027, it could generate 50 000 permanent jobs and drastically cut congestion on the N3. The inland port aims to outpace City Deep by offering faster container turnaround times, boosting Transnet’s revenues, and restoring rail’s competitiveness. Proponents argue it provides the missing link to revive South Africa’s failing logistics backbone.(SOURCE: Moneyweb)
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FIDELITY FUND ORDERED TO PAY WIDOW’S R462 837 CLAIM
The Pretoria High Court has ordered the Legal Practitioners Fidelity Fund to pay R462 837 to 54-year-old widow Lindiwe Busangani Nkosi after her Road Accident Fund (RAF) settlement was stolen by her former attorneys, Chueu Inc. The fund initially opposed the claim, arguing Nkosi should first pursue recovery from the insolvent firm’s directors. Acting Judge HGA Snyman ruled this expectation unreasonable, given Chueu’s collapse and Nkosi’s personal circumstances. Chueu Inc once handled 6 000 files worth R6.2 billion before its downfall, leaving 116 claims totalling R82.7 million against it. The court found Nkosi had met legal requirements, compelling the fund to compensate her. (SOURCE: Moneyweb)
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SA CANEGROWERS CAMPAIGN PUTS LOCAL SUGAR FIRST
SA Canegrowers has launched its ‘Save our Sugar’ campaign to push consumers, retailers and businesses to buy locally produced sugar instead of imports. The body warns that highly subsidised imported sugar undermines South African growers, costing them R7 600 in revenue per ton. In June and July alone, 90 000 tons of imports inflicted losses of R684 million. The industry supports 24 000 small-scale and 1 200 large-scale growers, vital to rural communities in KZN and Mpumalanga.. Canegrowers urge consumers to check labels to ensure sugar is locally grown. (SOURCE: Engineering News)
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ESKOM'S R16 BILLION PROFIT WAS 8 YEARS IN THE MAKING
Eskom reported its first full-year profit in eight years, posting a R16 billion ($927 million) profit after tax for the fiscal year ending March 2025. The turnaround was driven by lower primary energy costs, reduced reliance on costly diesel-fired open cycle gas turbines, and a sharp cut in load-shedding. Operating margins more than doubled due to improved coal plant reliability and a 12.74% tariff increase. Load-shedding days dropped from 329 to just 13, significantly boosting sales. Eskom aims to reinvest profits into infrastructure and improve governance while navigating ongoing regulatory and financial challenges to stabilize the power sector. (SOURCE: BDLive)
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... AND SOUNDS ALARM OVER R550 BILLION FUNDING GAP
Eskom has sounded the alarm over a looming R550 billion funding shortfall within five years, driven by ballooning municipal arrears and insufficient tariff increases. The utility cautions that unpaid municipal bills could reach R329 billion by 2030, while the National Energy Regulator of SA’s tariff trajectory could leave a R250 billion hole. The double blow threatens Eskom’s cash flow, investment in infrastructure, and plans to commercialise its distribution unit. The warning comes despite operational improvements in 2025, underscoring how structural financial weaknesses continue to undermine the power utility’s recovery and unbundling efforts.
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... AS NERSA PROBES FIXED ELECTRICITY CHARGES
The National Energy Regulator of South Africa (NERSA) has launched a market inquiry into the fairness and impact of fixed charges applied by Eskom and municipal electricity distributors. The regulator cites instances where some consumers face increases far exceeding the 12.74% tariff hike approved for 2025/26. Written submissions close on October 25, with public hearings scheduled for November 17. The inquiry will examine how fixed‐charge structures affect households, businesses, rooftop solar users, and tariff equity, aiming to ensure transparency, fairness and alignment with approved methodologies. (SOURCE: Engineering News)
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MUNICIPALITIES OVERESTIMATE REVENUE COLLECTION, SAYS TREASURY
National Treasury found municipalities overestimated their revenue collection by a significant margin in the 2024/25 financial year, leading to a net underperformance of R46.2 billion against budgeted amounts. Municipalities budgeted based on a 94.8% collection rate but only achieved an actual collection rate of 72.9%. This shortfall forced many to underspend on budgeted expenditure by R86.5 billion to balance deficits. The largest revenue contributors are the eight metropolitan municipalities, with over half of the total local government revenue. Treasury warns this gap in revenue undermines municipal financial sustainability and signals ongoing fiscal challenges for local governments. (SOURCE: Engineering News).
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DIGITAL DITHERING HOLDS BACK SME GROWTH
Despite South Africa’s strong entrepreneurial base, many small and medium enterprises (SMEs) struggle to adopt digital tools effectively, limiting their growth prospects. With around 3 million SMEs, including over 2.5 million micro-enterprises, many operate informally. Experts Angelo Zanetti and Jerry Diender of Elemental highlight that the key to digital success lies in clear processes, better data, and systems tailored to actual business needs. SMEs that delay digitisation risk inefficiencies, lost data, and customer attrition, while digital-savvy competitors thrive. They recommend incremental digital adoption, starting with mapping key processes, training staff, and using off-the-shelf solutions, as a path to improved efficiency and competitiveness. (SOURCE: Bizcommunity)
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YORK TIMBER POSTS 14% RISE IN REVENUE
JSE-listed York Timber reported a 14% revenue increase to R1.99 billion for the year ended June 30. Adjusted EBITDA rose R75 million to R166 million, while operational cash generation climbed R119 million to R148 million. Earnings a share surged from 12.97c to 68.19c, with headline earnings a share up from 13.74c to 66.69c. Debt rose to R561 million, and biological assets gained 19% in value to R3.25 billion. No dividend was declared. (SOURCE: SENS)
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GLENCORE SHARE SURGE RAISES EYEBROWS DOWN UNDER
Shares of South African miner Glencore surged sharply in September 2025, rising about 17% amid rising copper prices and increased investor interest. However, the Australian Securities Exchange is seeking clarity on the stock’s sudden price spike, reflecting concerns over market volatility. Despite this recent rally, Glencore faces challenges including production shortfalls and pressure on coal prices, leading investors to question the company’s strategic direction. Analysts warn that meeting production targets for the second half of the year is critical for sustaining momentum. The stock remains a focus for scrutiny as Glencore attempts to balance operational hurdles with shareholder expectations. (SOURCE: Mining Weekly) |
SOUTH AFRICA READY TO EXIT GREY LIST THIS MONTH
South Africa and Nigeria are poised to exit the Financial Action Task Force (FATF) grey list at the 24 October Paris plenary, alongside Mozambique and Burkina Faso. Both countries were grey-listed in February 2023 for weaknesses in tackling illicit financial flows but have since made significant progress, completing required reforms. Delisting would boost investor sentiment, reduce risk perceptions, and potentially lift short-term asset prices, though market effects may be modest. The IMF has found grey-listing significantly reduces capital inflows. Mozambique and Burkina Faso have also fulfilled FATF action items, awaiting final member consensus on removal. (SOURCE: Bloomberg)
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MOZAMBIQUE CUTS RATE TO RECORD LOW TO SPUR GROWTH
Mozambique’s central bank, Banco de Moçambique, cut its key benchmark interest rate, the MIMO, to a record low of 9.75% from 10.25% to support its recession-hit economy. This marks the eleventh consecutive rate cut since January 2024, totaling a 700 basis points reduction. The central bank will continue easing but at a pace dependent on inflation data, which rose to 4.8% in August 2025, the highest since November 2023. Economic recovery is expected to benefit from large LNG export projects restarting after years of militant disruptions, boosting the nation’s medium-term growth prospects despite ongoing domestic risks. (SOURCE: Bloomberg)
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TALIBAN SHUTS DOWN INTERNET, ISOLATING AFGHANISTAN
Afghanistan faces a total internet blackout imposed by the Taliban, extending a crackdown on "immoral activities" by severing fiber optic connections nationwide. The shutdown, confirmed by cybersecurity watchdog NetBlocks, began in phases earlier this month and culminated in a complete cutoff affecting internet and telephone services. The communications halt threatens economic stability, banking functionality, emergency response, and isolates women and girls, worsening Afghanistan's humanitarian crisis. International bodies, including the UN, urge the Taliban to restore access, warning of severe consequences for freedoms and critical services amid ongoing natural disasters and mass refugee returns. The government's grip tightens as the country becomes increasingly isolated from the outside world. (SOURCE: CBS)
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GLOBAL SHIPPING HEADING FOR MORE TROUBLED WATERS
Global shipping is set for another volatile year, with fragile growth due to geopolitical tensions, trade policy shifts, and supply-chain reconfigurations disrupting traditional patterns, warns UNCTAD's Review of Maritime Transport 2025. Vessel routes are increasingly diverted from chokepoints like the Suez Canal, where cargo volumes fell about 70% by May 2025 from 2023. Container trade is forecast to grow modestly by 1.4%, while overall maritime trade grows 0.5%. Energy shipping is transforming, with longer oil cargo routes and rising coal and gas shipments. The transition to clean energy poses strategic risks due to concentrated mineral supplies, while higher freight rates and longer voyages pressure the global economy, highlighting a need for investment and coordination. (SOURCE: FreightNews)
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It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.
Charles Darwin |
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| Dollar | R17.24 | + 0.11% | | Pound | R23.22 | - 0.17% | | Euro | R20.27 | - 0.14% | | Yen | R0.00 |
| | Yuan | R2.42 | + 0.21% | | Bitcoin | $ 114 408.20 | + 0.20% |
These rates are correct at time of going to press. | | Platinum | $ 1 238.86
| - 1.52% | | Gold | $ 3 860.89
| + 0.06% | | Oil | $ 66.20
| + 0.17% | | All Share | 107 940.24 | + 0.65% | | Repo | 7.00 | | | Prime | 10.50 | |
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