| RELIEF FOR ITHALA CUSTOMERS WITH HELP FROM TREASURY, FNB |
National Treasury has stepped into the Ithala imbroglio with a R2.2 billion guarantee to allow depositors access to their funds on hold since January. Payouts will be made through FNB branches that in KZN will extend operating hours from 8-31 December for much-needed relief during the festive season. Click here for more details. |
| ESTCOURT INTERMODAL HUB ON TRACK TO CUT N3 TRUCK TRAFFIC |
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The directors behind the intermodal freight village in Estcourt (ltr) Wessel Jacobs, Manka Sebastian and Siya Mncube. Pic credit Bizcommunity.
An intermodal freight village in Estcourt (EIT) is highlighting the growing regional role of the KZN Midlands in the evolving freight landscape of South Africa.The fully operational facility at the N3 and rail corridor junction connecting Gauteng with Durban helps to ease pressure on the N3, specifically to reduce the number of trucks, estimated at 7 000, that move 27.5 million tons of road freight annually.
By shifting freight to rail, EIT aims to cut transport costs by up to 50%, reduce congestion, create jobs, and strengthen the competitiveness of local manufacturers. It has negotiated three weekly slots to run trains on the main line to Durban with plans to run three trains daily in the near future. Plans are on track to expand the current 60 000 m² terminal, on the former Masonite site, to a 500 ha multi-terminal operation handling clean and bulk cargo, serving both exporters and importers. (SOURCE: Bizcommunity) |
| CALL TO CUT OFFSHORE INVESTMENT TO BOOST INFRASTRUCTURE SPEND |
1967: Dr Chris Barnard performed the world’s first heart transplant.
Elsewhere, in 1984, a gas leak at Carbide Union in Bhopal in India killed at least 15 000 people.
Today is for basketball lovers, on World Trick Shot Day. |
20% ONLINE GROWTH POINTS TO BLACK FRIDAY'S DIGITAL FUTURE
South Africa’s Black Friday increasingly belongs to e-commerce, with banks reporting that online spending growth once again eclipsed physical retail. Absa says the average online basket climbed 25% to R827, while total online transaction values rose more than 20% year-on-year.
FNB recorded over 5 million digital payments on the day, with online spend up 18%, driven by electronics, appliances, groceries and fashion. Standard Bank reported a similar surge, noting a 15% rise in e-commerce volumes, alongside a 12% uptick in in-store card swipes. Although physical retail still saw foot traffic, growth was slower in the face of.aggressive online discounting on the back of enhanced fraud protection and streamlined payment tools. (SOURCE: BDLive) |
... AS 0.5% GDP EXPANDS ON HIGHER CONSUMER SPEND
South Africa’s economy grew 0.5% in Q3 2025, marking the fourth consecutive quarterly expansion despite persistent structural pressures. Growth was driven by mining (up 2.1%), trade (1.3%) and solid household spending, reflecting easing inflation and slightly improving consumer confidence. Manufacturing also posted a mild rebound. However, the electricity sector contracted sharply as generation constraints and grid instability continued to weigh on overall output. Agriculture remained subdued after earlier weather-related declines. While the latest data signals resilience, economists warn that growth remains too weak to meaningfully dent unemployment, underscoring the need for faster reforms and reliable energy supply. (SOURCE: BDLive)
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... AND R12.4 BILLION INVESTMENT SURGE HINTS AT TURN-AROUND
South Africa’s economy received a welcome lift as gross fixed capital formation rose 1.6% in Q3 2025, contributing to an annual increase of 4.3% year-on-year - the strongest pace since 2019. The rebound was driven by R12.4 billion in additional spending on machinery and equipment, R4.8 billion on transport assets, and continued investment in private renewable-energy projects now exceeding 6 GW of installed capacity. Economists note that improved load-shedding conditions, a softer inflation trajectory, and early structural reforms helped revive sentiment. Although logistics bottlenecks and fiscal pressures still pose risks, the surge in investment signals renewed confidence and raises hopes that South Africa’s long-delayed growth recovery may finally be taking shape. (SOURCE: News24)
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... AS PRIVATE RAIL OPERATOR ORDERS 46 NEW ZEALAND LOCOS
South Africa’s private rail revival gained momentum as Traxtion confirmed a multibillion-Rand investment to import 46 refurbished diesel locomotives from New Zealand, bolstering its fast-expanding fleet. The locos - previously used by KiwiRail - will be upgraded for South African conditions and deployed on key mineral and agricultural corridors in 2026. Traxtion says the purchase forms part of a R3 billion fleet-expansion programme aimed at easing chronic freight bottlenecks and providing reliable alternatives to Transnet’s struggling network. The company has already hired specialist crews and secured maintenance capacity, positioning itself to capture rising private-sector demand for efficient, scalable freight solutions. (SOURCE: News24) |
EUROPEAN EXPORTS UP 9% TO OFFSET CHINA, US DYNAMICS
South Africa’s export performance is becoming increasingly reliant on Europe as the trade deficit with China deepens and US tariffs squeeze key sectors. Exports to the EU climbed nearly 9% year-on-year, driven by strong demand for vehicles, citrus and wine, helping offset a widening R42-billion gap with China fuelled by weak mineral shipments. Meanwhile, higher US tariffs on metals and machinery have cut export volumes by an estimated R8 billion this year. Economists warn that over-dependence on Europe carries risks, but say the shift underscores the urgency of diversifying markets and boosting value-added manufacturing to stabilise South Africa’s trade outlook. (SOURCE: News24)
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COMPCOM TARGETS 8 SHIPPING LINES OVER CARTEL PRICING
South Africa’s Competition Commission has referred local units of top global shipping firms, including Maersk and CMA CGM, to a tribunal for price-fixing prosecution. Between 2008 and 2018, these companies allegedly co-ordinated general rate increases on cargo routes between South Africa, Asia, and West Africa. Other respondents include MSC, PIL, Mitsui OSK, Cosco, Evergreen, and K Line. The Commission says dismantling the cartel will lower import costs, boost export competitiveness, and benefit consumers. Investigations revealed identical rate hikes for shipments from Shanghai, Ningbo, Shekou, and Qingdao to Durban, and from Durban to Hong Kong. (SOURCE: Bloomberg) |
491 CORRUPTION-TAINTED SUPPLIERS DODGE BLACKLIST
South Africa still has 491 individuals and companies implicated in corruption who remain eligible for state contracts, according to a parliamentary reply revealing major gaps in the blacklisting system. These suppliers were referred by the Special Investigating Unit (SIU) for restriction but never formally barred on the National Treasury database. MPs warn the failure exposes departments to repeated procurement abuse and undermines anti-corruption reforms. Treasury says delays stem from incomplete cases, appeals and verification backlogs, while critics argue the loophole allows repeat offenders to access billions in tenders. Calls are growing for automatic interim restrictions and faster inter-agency co-ordination. (SOURCE: BDLive)
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GLENCORE-MERAFE RETRENCHMENTS LOOM OVER ESKOM TARIFFS
Glencore-Merafe has issued Section 189 retrenchment notices after talks with Eskom failed to secure the power pricing relief needed to keep its Wonderkop and Boshoek ferrochrome smelters operating. Merafe says negotiations “ended in vain”, leaving more than 1 400 jobs at risk as soaring electricity costs render the plants unviable. The joint venture warned Eskom that, without a competitive tariff structure, the smelters will be placed on extended care and maintenance, further shrinking South Africa’s ferrochrome output. Industry groups say prolonged closures could undermine regional supply chains and accelerate the sector’s shift to lower-cost jurisdictions. (SOURCE: BDLive)
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... AS SIBANYE INKS 3-YEAR GOLD MINING WAGE DEAL
Sibanye Stillwater has finalised a three-year wage agreement covering its South African gold operations, securing labour peace and financial stability. Under the deal, miners receive a 7.5% annual base wage increase in year one, followed by adjustments linked to inflation for years two and three. In addition, the agreement provides a R1 200 monthly housing stipend, expanded shift-bonus structures that add up to R950 per month for qualifying workers, and enhanced benefits including free medical cover and a one-off sign-on bonus of R5 000. Union leaders called the deal “balanced under tough economic conditions.” For Sibanye, the agreement provides long-term cost predictability while safeguarding production continuity and worker welfare. (SOURCE: News24)
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GLOBAL AIR PASSENGER TRAFFIC SURGES 6.6% IN OCTOBER
The International Air Transport Association (IATA) reports strong global air travel growth in October. Total passenger demand rose 6.6% year-on-year, with international traffic up 8.5% and domestic 3.6%. Load factors averaged 84.6%. Africa led regional growth at 8.8%, while Brazil topped domestic markets with 12.4% growth. Airlines globally are expanding seat capacity into November and December, reflecting strong holiday and business travel. IATA notes resilience despite economic uncertainty, highlighting the sector’s contribution to jobs and economic growth, urging governments to support sustainable air travel infrastructure and policies to maintain momentum. (SOURCE: Engineering News)
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... AS 16.6% AFRICAN GROWTH LEADS GLOBAL AIR CARGO DEMAND
Global air cargo demand surged 4.1% year-on-year in October, marking the eighth consecutive month of growth, reports the International Air Transport Association (IATA). International demand rose 4.8%, while global capacity increased 5.1%, with Africa leading at 16.6% growth. Key trade lanes saw Europe-Asia (+11.7%), Middle East-Asia (+11.5%), and Africa-Asia (+10.9%) growth. North America contracted 2.7%. Despite rising jet fuel costs, strong industrial production and global goods trade supported volumes. IATA notes shifting patterns reflect adaptation to US tariffs, with Asia, Middle East, and Europe driving gains. The peak Q4 shipping season underpins continued optimism for air cargo. (SOURCE: Engineering News)
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Truth is the only safe ground to stand upon.
Elizabeth Candy Stanton |
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| Dollar | R17.08 | + 0.20% | | Pound | R22.60 | + 0.04% | | Euro | R19.89 | + 0.01% | | Yen | 0.109844 |
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These rates are correct at time of going to press. | | Platinum | $ 1 653.50
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