| INNISFREE TRUST DONATION STRENGTHENS HOSPICE CARE |
(ltr) CEO Letitia Marais and Palliative Care Manager Brenda Urwin of the Msunduzi Hospice with Angie Narayanan of the Community Chest.
For the second year, the Innisfree Trust, working with the PMB & District Community Chest, has uplifted Pietermaritzburg’s NPO sector with significant asset-based donations. After funding the Aryan Benevolent Society’s R1-million senior citizens home in 2024, four projects were supported this year. The Association for and of the Disabled received a new outreach vehicle, while Msunduzi Hospice benefitted from palliative care equipment worth R323,000. Both staff and directors expressed gratitude for the upgrade. Born from a generous local bequest, the Innisfree Trust continues to enrich community services and build lasting impact across Pietermaritzburg. |
| BUSINESSES PUTTING THEIR BEST FEET FORWARD AT GOLF DAY |
The annual XTEC-sponsored PMCB Golf Day mixed fun and frivolity with the sometimes serious business of playing golf. Click here for the full gallery of photographs. '
The annual XTEC PMCB Golf Day brought together the diverse business community in Pietermaritzburg and the Midlands for networking, relationship-building, and informal deal-making in a convivial setting. Hosted by the Pietermaritzburg and Midlands Chamber of Business, with naming-rights sponsor XTEC supported by a host of other sponsors and donors, the event offered more than recreation and a day out on the course, it’s also a strategic opportunity for growth. Click here for the full gallery of photographs. |
1919: General Jan Christian Smuts started his first term as prime minister of the Union of South Africa after the death of General Louis Botha.
Elsewhere, in 1995, internet giant eBay, the online marketplace and auction website, was founded by Pierre Omidyar.
On this day, Swedish drivers switched from driving on the left-hand side of the road to the right.
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LABOUR MINISTRY BATTLES JOB LOSSES ON ALL FRONTS
The Department of Employment and Labour (DEL) is fighting fires on all fronts as job losses escalate across South Africa. Employment and Labour Minister Nomakhosazana Meth voiced concern after 291 000 jobs were shed in Q1 2025 alone. ArcelorMittal South Africa’s closure of its longs business threatens 3 500 direct jobs and 100 000 downstream. Ford SA plans to cut 474 roles, while tyre manufacturer Goodyear’s shutdown cost 900 jobs. Retrenchments mooted by mining and minerals multi-national Glencore could impact 19 000 jobs directly and indirectly, while the restructure of the South African Post Office (SAPO) has led to significant joblosses.
DEL interventions to date include R416 million in UIF relief for AMSA employees and R381 million for SAPO’s turnaround. Additionally, over R4 billion has been directed to the Youth Employment Initiative, supporting work opportunities for young people. Meth emphasised DEL’s commitment to saving jobs and cushioning workers despite economic headwinds. (SOURCE: Engineering News)
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... AS SOLIDARITY VOWS TO RESIST MASS JOB CUTS AT AMSA
Trade union Solidarity has vowed to fiercely resist ArcelorMittal South Africa’s (Amsa) expanded retrenchment plans, now threatening 4,000 jobs across Newcastle, Vereeniging, and Vanderbijlpark. The closures, possibly starting end-September, will affect long steel, coke, and workshop operations - slashing 71% of Amsa’s workforce. Solidarity blames government failures, including high electricity costs, rail and port inefficiencies, and lack of industrial policy support, for the crisis. The union warns of a looming “retrenchment bloodbath” across industries if urgent action is not taken. Negotiations with Eskom over discounted power remain unresolved, further imperiling Amsa’s survival and downstream industries reliant on its products. (SOURCE: Moneyweb) |
SILICOSIS PAYOUTS TO MINEWORKERS REACH R2.2 BILLION
Seven years after the silicosis class action settlement, the Tshiamiso Trust has paid R2.2 billion to 21,416 mineworkers and families. Of the funds, 51% went to South Africans and 42% to Lesotho claimants. Payments in 2025 totalled R540 million, up from R461 million. Challenges include locating beneficiaries, strict medical criteria, and incomplete records. Partnerships and pilot projects in Zimbabwe and Botswana are expanding reach, while claimants now have 120 days to appeal disputed outcomes. (SOURCE: Mining News) |
KALAHARI RESERVE UNVEILS PIONEERING CARBON CREDIT PROJECT
Tswalu Kalahari has launched Southern Africa’s first wildlife-based carbon credit project, transforming over 50 degraded farms into thriving habitats. Partnering with Oppenheimer Generations Research & Conservation and Rewild Capital, the initiative restores ecosystems, boosts biodiversity, and delivers community benefits. Verified by Credible Carbon, the project generated 34,471 credits in 2022, offsetting emissions and funding conservation. With projected output of 274,534 credits by 2039, Tswalu sets a blueprint for sustainable stewardship across Africa. The project reinvests revenues into ecological restoration, local development, and climate resilience, creating a scalable conservation funding model beyond philanthropy and tourism. (SOURCE: Bizcommunity) |
ANC TO REVIVE DIVISIVE DEBATE ON RESERVE BANK ROLE
The ANC will revisit its long-standing push to broaden the South African Reserve Bank’s mandate at its national general council in December. The proposal, debated for decades, has divided the party, with some factions advocating for a more activist role in driving economic growth and employment. However, business and investors caution that altering the bank’s focus could erode market confidence. Currently, the Reserve Bank’s primary mandate is to protect the rand and ensure price stability. The outcome of December’s discussions may reignite tensions between the ANC’s policy ambitions and the need to safeguard financial stability. (SOURCE: BDLive) |
... AS SHOPRITE SETS SIGHTS ON BANKING ROLE
Shoprite, South Africa’s largest grocery retailer, is preparing to disrupt the banking sector by leveraging its vast customer base and data insights. With record annual sales of R252 billion and 1.2 billion customer visits, the group sees banking as a lucrative new revenue stream. CEO Pieter Engelbrecht said Shoprite is well-positioned to offer financial services, building on its scale and strong weekly sales averaging R4.9 billion. The move aligns with the retailer’s strategy of diversifying beyond groceries, tapping into fintech and financial inclusion, and strengthening its competitive edge as it evolves into a multi-sector powerhouse. (SOURCE: BDLive) |
COMPANY RESULTS 1: BIDVEST POSTS R4.9% GROWTH
Bidvest posted 4.9% revenue growth to R126.6-billion for the year ended June 30, supported by stronger second-half results. Profit growth in Services South Africa (13.6%), Services International (12.1%) and Branded Products (7.8%) offset declines in freight and commercial products. The Citron acquisition offers strategic hygiene services growth in North America, while strong cash generation improved conversion to 95.3%. Bidvest declared a final dividend of R4.53 per share. |
COMPANY RESULTS 2: SHOPRITE SETS R250 BILLION RECORD
Shoprite Group surpassed R250 billion in annual sales, with revenue for the year ending 29 June rising 8.6%. Headline earnings per share grew 15.8%, while a 781c dividend was declared. Sales at Checkers surged 13.8%, Sixty60 grew 47.7% to R18.9 billion, and Shoprite opened 281 new stores despite economic headwinds. (SOURCE: SENS) |
COMPANY RESULTS 3: RCL FOODS RETURNS 10% SHARE GROWTH
RCL Foods reported solid results for the year ended June 30, with Ebitda rising 11.4% to R2.56 billion. Headline earnings per share increased 10% to R1.56, supporting a higher dividend of 60c. Groceries and Baking delivered strong growth, while Sugar faced pressure from imports. Disposals of Rainbow Chicken and Vector Logistics allow RCL to focus on core, branded growth. |
COMPANY RESULTS 4: MOTUS DECLARES DIVIDEND AS REVENUE DROPS
Motus Holdings lifted headline earnings 5% to 1 548 cents and declared a 550c dividend, despite revenue dipping 1% to R112.6 billion for FY2025. Operating profit held steady at R5.48 billion, while cash flows surged 60% to R5.7 billion. Debt reduction of R4.2 billion and a new AA-(ZA) credit rating strengthen outlook, with improved results expected in FY2026. |
ZIMBABWE TO SWOP DOLLAR FOR ZIG BY 2030
Zimbabwe’s central bank has unveiled steps to adopt the gold-backed ZiG as the country’s sole currency by 2030, phasing out the US Dollar. Conditions include building reserves to cover three to six months of imports, slashing inflation from 94% to single digits by 2026, and narrowing exchange rate gaps. Introduced in April 2024, the ZiG faces challenges as reserves currently cover only one month. Businesses and individuals may hold foreign-currency accounts, but all domestic transactions will require ZiG, marking Zimbabwe’s sixth attempt at a mono-currency system. (SOURCE: Bloomberg) |
GLOBAL TRADE RULES FACE BIGGEST DISRUPTION IN 80 YEARS
World Trade Organisation (WTO) chief Ngozi Okonjo-Iweala has warned of the greatest disruption to global trade rules in 80 years, as tariff wars reshape international commerce. The share of trade under WTO’s Most Favoured Nation terms has slipped to 72% from 80%, raising fears the free-trade system is being sidelined. Okonjo-Iweala cautioned tariff effects could extend into 2026, despite WTO revising global trade growth to 0.9% in August. She expressed concern over US funding cuts but highlighted progress, including imminent ratification of a fisheries subsidies deal and China’s willingness to discuss reforms, offering cautious optimism for WTO renewal. (SOURCE: Reuters) |
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You will never always be motivated, so you must learn to be disciplined.
Tim Grover |
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| Dollar | R17.69 | - 0.06% | | Pound | R23.69
| - 0.05% | | Euro | R20.60
| - 0.06% | | Yen | 0.119107 |
| | Yuan | R2.48 | + 0.07% | | Bitcoin | $ 110 759.90
| - 0.36% |
These rates are correct at time of going to press. | | Platinum | $ 1 397.10
| - 1.04% | | Gold | $ 3 536.84
| + 0.10% | | Oil | $ 68.93
| - 0.19% | | All Share | 101 167.27
| - 0.72% | | Repo | 7.00 | | | Prime | 10.50 | |
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