| WHEN FUNERAL COSTS ARE THE DEATH OF THOSE LEFT BEHIND |
South Africans appear poorly prepared for the realities of death and estate administration, with the inaugural Capital Legacy Estate Readiness Index scoring just 50 out of 100. Research among 1 000 people who had lost a loved one reveals the heavy financial and emotional toll families can face. More than half experienced financial pressure, with 66% of those affected running short of cash within three months. Estate administration also took longer than expected for most, while 42% experienced family conflict and 60% reported emotional strain severe enough to disrupt daily life. The findings highlight the urgent need for better estate planning and preparedness.
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| MALES FALL SHORT OF MEN’S LUNCH, BUT STILL WEAR THE PANTS |
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In attendance were (back, ltr) Bonga Ndaba (PMCB President), Rupert September (Maestro Assist), Ricky Reddy (Bright Spark Electrical) and front, Dave Poole and Andrew Muir (both Austen Smith Attorneys) and Derek Alberts.
The Pietermaritzburg and Midlands Chamber of Business' Wear the Pants lunch may not have matched the Women in Business Lunch’s impressive 400-plus turnout, but what it lacked in numbers, it more than made up for in fun. The men, apparently, needed a little more encouragement to put their pants where their mouths were.
Still, those who did attend were rewarded with an afternoon of frivolity, plenty of laughter, bottles of wine and, inevitably, an overstuffed chicken breast or two. There was no shortage of good-natured banter, networking and the occasional reminder that men can, indeed, enjoy a long lunch without discussing rugby, politics or the economy. Perhaps the lesson is simple: next year, gentlemen, book early – or risk being outnumbered by women again.
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| REMINDER: MASTERING PROJECT MANAGEMENT, START TO FINISH |
Take your projects from initiation to successful closure with NKR Outsourced HR’s practical Project Management course at the Pietermaritzburg and Midlands Chamber of Business tomorrow. Trainer Nic Nortje will guide participants through planning, execution, monitoring, risk management, scheduling, budgeting and project closure using real-world scenarios and hands-on exercises. Ideal for aspiring project managers, team leaders, business owners and professionals managing projects alongside other responsibilities. Participants gain practical tools to deliver projects on time, within budget and scope. Contact Thabisile on (033) 345 2747 or at info@pmcb.org.za.
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1960: A State of Emergency was declared after the Sharpeville Massacre.
Elsewhere, in 1955, the first tennis match was telecast in colour, a Davis Cup tie between Australia and the US in New York by NBC. |
RAND AT R15.92/$ HITS 6-MONTH HIGH ON SURGING BOND DEMAND
The Rand strengthened to R15.92/$ in early morning trade today, its strongest level since February, after strong demand at South Africa’s government bond auction boosted sentiment. Investors placed R14.79 billion in orders for bonds worth just R2.55 billion, producing a bid-to-cover ratio of 5.8, the highest since June 2.
The 2037 bonds attracted R6.71 billion in bids against R850 million offered, while 2039 and 2042 bonds drew R4.12 billion and R3.97 billion respectively. The 2037 yield fell nine basis points to 8.75%. The Rand has gained 3.4% this month, helped by weaker Dollar conditions and stronger appetite for South African assets. (SOURCE: Bloomberg)
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BUSINESS CYCLE INDICATOR FALLS ON PATCHY RECOVERY
The SA Reserve Bank’s leading business cycle indicator fell for a third consecutive month in June, pointing to weaker momentum in economic activity. The latest decline was driven largely by lower export commodity prices and slower growth in money supply. Several other components also weighed on the indicator, including weaker passenger vehicle sales. The measure is closely watched because it provides an early signal of future economic conditions. The continued decline suggests South Africa’s modest recovery remains vulnerable to softer external demand and domestic constraints. Economists will monitor upcoming readings for signs of whether the slowdown is temporary or becoming more entrenched. (SOURCE: BDLive)
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AFRICAN MARKETS BUOY SLUGGISH VEHICLE EXPORTS
South African vehicle exports fell 5% year on year to 94 499 units in Q2 2026, as port congestion, geopolitical tensions and trade barriers disrupted supply chains. Industry body NAAMSA said slow freight movement forced some suppliers to airfreight critical components to avoid production interruptions. First-half exports were 7.6% lower than a year earlier, with shipments to the EU, Asia and Middle East weakening. US-bound exports faced additional pressure from Section 232 tariffs. African exports, however, increased. Domestic vehicle sales rose 13.4% to 153 119 units, while new-energy vehicle sales surged 134.3% to 8 611 units during the quarter. (SOURCE: FreightNews)
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... AS TOUGHER CAR SAFETY RULES COME INTO PLAY
South Africa is moving towards tougher minimum safety standards for new passenger cars, with draft compulsory specifications published for public comment. Proposed changes include four airbags, side-impact protection and mandatory electronic stability control (ESC) across all vehicle derivatives and specification levels, including entry-level models. The Automobile Association welcomed the reforms, saying they could bring local requirements closer to international standards. The AA has campaigned for safer vehicles for decades, highlighting structural integrity, airbags and ESC. Public comments close on 10 September 2026. Once gazetted, manufacturers will have six months to comply. The AA argues improved safety should not necessarily increase vehicle prices. (SOURCE: Moneyweb)
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AI THREATENS TO DAMPEN CALL CENTRE BOOM
Artificial intelligence is emerging as a potential threat to South Africa’s booming call-centre industry, which has become an important source of jobs and foreign revenue. Rapid advances in AI-powered chatbots and voice technologies could automate many routine customer-service tasks traditionally handled by human agents. The sector has expanded strongly in recent years, benefiting from South Africa’s competitive costs, language skills and established business-process outsourcing capabilities. However, industry experts warn companies will increasingly adopt AI to improve efficiency and reduce costs. The challenge is ensuring workers are reskilled for higher-value roles, allowing South Africa to remain competitive as customer-service technology rapidly evolves. (SOURCE: News24)
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RAMAPHOSA HINTS AT FOREIGN ACTORS IN ANTI-MIGRANT PROTESTS
President Cyril Ramaphosa says some anti-migrant activity in South Africa may be receiving support or direction from foreign actors, as authorities investigate violence targeting foreign nationals. Responding to MPs, Ramaphosa said African leaders had raised concerns about outside forces seeking to destabilise South Africa by exploiting tensions between citizens and migrants. He provided no details identifying the alleged actors or evidence behind the claims. Ramaphosa rejected suggestions that the violence had damaged South Africa’s Pan-African standing, saying the country remained committed to regional cooperation through SADC and the African Union. He also pledged arrests and prosecutions for those responsible for violence, while stressing that migration requires collective continental solutions. (SOURCE: BDLive) |
... AS XENOPHOBIA TENSIONS CLOUD GOLD FIELDS GHANA DEAL
South Africa’s growing anti-migrant tensions are adding political and reputational “noise” to Gold Fields’ high-stakes negotiations over its Ghana operations. The Johannesburg-based gold producer is pursuing a major transaction involving its Ghanaian assets as it seeks to strengthen its position in the country’s gold sector. However, rising hostility towards foreign nationals in South Africa has complicated the broader political backdrop, given the company’s South African roots and extensive international workforce. The Ghana discussions come as African governments increasingly scrutinise foreign mining ownership and economic benefits. (SOURCE: News24)
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NORTHAM PLATINUM R122 BILLION BID TRIGGERS TAKEOVER BATTLE
Northam Platinum is facing a potentially transformational takeover battle after receiving an unsolicited offer valuing the platinum group metals producer at R122 billion. The approach, from a South African rival, has prompted Northam to appoint One Capital Advisory to manage the bidding process and assess its options. The proposed transaction could become one of the biggest deals in South Africa’s mining sector this year, testing investor appetite for major PGM assets amid volatile commodity markets. Northam’s board will now consider the offer while shareholders and competitors assess its strategic implications. The development could reshape ownership and competitive dynamics across South Africa’s important platinum industry, potentially triggering further consolidation. (SOURCE: BDLive)
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... AS PIC’S R760 MILLION OIL BET GOES UP IN SMOKE
The Public Investment Corporation’s R760 million investment in an oil company has suffered a major setback, highlighting the risks facing investors backing volatile energy ventures. The investment, made on behalf of public-sector workers, has lost significant value as the company’s fortunes deteriorated. The setback raises questions about the PIC’s investment strategy and the risks associated with committing public funds to speculative energy opportunities. The loss comes as global oil markets remain uncertain, with geopolitical tensions, changing demand and the transition towards cleaner energy reshaping the sector. (SOURCE: News24)
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... AND FSCA ESCALATES R74 MILLION CURRO INSIDER TRADING PROBE
The Financial Sector Conduct Authority has escalated its inquiry into possible insider trading in Curro shares to a formal investigation, following suspicious transactions before the Jannie Mouton Foundation’s R7.2 billion buyout offer. Moneyweb identified three unusual trading patterns involving Citiclient Nominees, the PIC and companies owned by the Jannie Mouton Familietrust. Citiclient’s trades generated an estimated R31 million profit, while the PIC’s transactions were worth more than R21 milion at the offer price. Mouton-linked entities bought shares worth about R210 million, producing a combined gain of approximately R74 million when the offer was announced. The FSCA has declined to identify which transactions are under investigation. (SOURCE: Moneyweb)
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ZIMBABWE TURNAROUND GAINING TRACTION, SAYS CITI
Zimbabwe is undergoing a faster economic turnaround than many investors realise, according to Citigroup, which says the country is breaking with its history of hyperinflation, currency instability and monetary disorder. Citi argues that Zimbabwe’s reputation as an economic pariah risks obscuring significant improvements taking place under International Monetary Fund oversight. The bank says stabilisation efforts and policy reforms are creating conditions for stronger growth and renewed investor interest. The assessment represents a striking shift in sentiment towards a country that has endured repeated economic crises. However, Zimbabwe still faces significant structural challenges, meaning sustained reforms will be crucial to turning improving conditions into durable growth. (SOURCE: Bloomberg)
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GOLD, OIL STEADY AS GEOPOLITICAL RISKS MOUNT
Gold and oil steadied as investors assessed US policy moves affecting Treasury markets and Iranian energy exports. Gold slipped 0.4% to $4 632.75 an ounce, after briefly reaching nearly $4 700 and gaining about 7% over the past week. Citigroup raised its three-month gold target to $4 800. Meanwhile, Brent crude fell 0.1% to $92.04 a barrel, with WTI at $84.96, after oil dropped more than 2% in the previous session. US restrictions on about 60 Iranian-linked entities offered little immediate disruption to physical supply. Oil has nevertheless surged more than 50% this year, reflecting continuing Strait of Hormuz risks. (SOURCE: Bloomberg)
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.... AS IRAN BRACES FOR MORE SANCTIONS PRESSURE
The Trump administration has intensified economic pressure on Iran by expanding secondary sanctions targeting countries and companies doing business with Tehran. The measures could restrict offenders’ access to the US financial system, while nearly 60 people, entities and vessels linked to Iran’s nuclear, missile, oil and cyber activities were also sanctioned. The move comes as Iran’s economy struggles under existing sanctions and a US naval blockade. The rial has plunged to a record low of about two million to the dollar, while the IMF expects the economy to contract by more than 5% this year. China, Turkey and the UAE face particular exposure as Iran’s major trading partners. (SOURCE: 1440)
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Don't let the expectations and opinions of other people affect your decisions.
Roy T. Bennett |
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| Dollar | R15.93 | + 0.11% | | Pound | R21.71
| + 0.20% | | Euro | R18.58
| + 0.17% | | Yen | 0.100148 |
| | Yuan | R2.37
| + 0.08% | | Bitcoin | $ 78 986.88 | + 0.49% |
These rates are correct at time of going to press. | | Platinum | $ 1 873.80 | + 0.36% | | Gold | $ 4 626.85
| - 0.67% | | Oil | $ 86.90
| + 1.03% | | All Share | 116 828.29
| + 0.10% | | Repo | 7.00 | | | Prime | 10.50 | |
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