| PADEL UP FOR CLOSE ENCOUNTERS WITH RAQUET AND BALL |
(ltr) BFC Chair Kantha Naidoo, Bibi Ayesha Yusuf, Sadia Farouk, Heidi Jadoo and Kay Reddy getting in some practice ahead of the BFC family padel day.
Business Fighting Crime (BFC) is hosting a padel fundraiser to encourage participants to smash balls and support a worthy cause. Whether you're a seasoned player or just keen to try something new, this event at the Maritzburg Golf Club on Saturday, 18 October promises high-energy matches, great company, and a whole lot of heart.
Every entry helps BFC, the crime-fighting arm of the Pietermaritzburg and Midlands Chamber of Business, to raise funds to keep the city safer, said BFC Chair Kantha Naidoo. “Your swing could make a real impact,” said Naidoo, “bring your game face, and let’s rally for change. Entry is R200 per person and children are free". Click here to download the form and register.
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| UKZN DEAL PAVES WAY FOR AFRICAN ROCKET LIFT-OFF |
The University of KZN’s Aerospace Systems Research Institute (ASRI) has partnered with Mura Space to commercialise its Sounding Rocket Launch Facility at the Overberg Test Range. The collaboration bridges academia and industry, enabling suborbital rocket launches under the new African Rocketry Challenge initiative. ASRI director Prof Michael Brooks said the partnership enhances sovereign space access, innovation, and skills development. Mura Space CEO Frederik de Ridder added launches reaching 100 km altitude will advance microgravity research, education, and set the stage for future orbital launch capabilities from South Africa. (SOURCE: Engineering News)
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| DIVORCE STIRS UP WITCHES BREW IN TWO-POT RETIREMENT SYSTEM |
1993: The UN lifted mandatory sanctions against South Africa.
Elsewhere, in 1871, the Great Chicago Fire started that raged for two days and killed 300 people.
It's International Lesbian Day.
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‘POLITIICALLY’ TOUGH MEASURES NEEDED TO TACKLE JOBS CRISIS
A report by the Centre for Development and Enterprise (CDE) calls for wholesale structural reform to tackle South Africa’s “unemployment catastrophe”, which excludes over 12.5 million job seekers from the economy. With fewer than four in 10 adults employed, the CDE urges politically tough measures - halting automatic bargaining council extensions, scrapping Setas for private training, easing dismissal laws, and creating a special economic zone at Coega to test flexible labour rules.
It also proposes redirecting R6 billion in small-business funding to competitive private initiatives and cutting red tape. Executive director Ann Bernstein warns that temporary public job schemes distract from deep reforms needed to drive sustainable employment and inclusive growth. (SOURCE: Engineering News)
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ANC FACES INSOLVENCY THREAT OVER R85 MILLION DEBT
The ANC faces possible insolvency after failing to settle an R85-million debt owed to Ezulweni Investments for 2019 election materials. The Sheriff has already attached several ANC bank accounts and goods from Luthuli House, but these fall short of the debt. Ezulweni’s lawyer, Shafique Sarlie, confirmed plans for an insolvency application, which could block the IEC from funding the party. Despite receiving R1.7 billion in public and private funds last year, the ANC’s finances remain dire, with irregular salary payments and heavy campaign costs ahead of the 2026 local government elections. The party claims the debt is tainted by fraud. (SOURCE: Daily Maverick)
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STATE IT AGENCY BATTLES ALMOST 60% VACANCY RATE
Nearly 60% of positions at the State Information Technology Agency (SITA) remain unfilled, raising alarm over the government’s digital capacity. The vacancy crisis has stalled key projects, including cybersecurity upgrades and e-government systems. Auditor-general reports have repeatedly flagged SITA’s weak governance, poor contract management, and skills shortages. Parliament’s public service committee warned that the agency’s dysfunction threatens critical state operations and service delivery.The agency plays a central role in implementing South Africa’s digital transformation strategy and safeguarding government networks. (SOURCE: News24)
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COURT BACKS SANRAL IN 2017 TENDER CHALLENGE
The Supreme Court of Appeal has dismissed contractor Urban Icon’s legal challenge against Sanral’s decision not to award it all seven road improvement tenders it bid for in 2017, despite it being the highest-scoring bidder. Sanral cited capacity concerns, warning awarding all contracts to the new firm posed “unacceptable commercial risk.” The court ruled Sanral acted lawfully and rationally in awarding only three projects to Urban Icon and the rest to second-placed bidders. The judgment affirms Sanral’s right to consider commercial risk and capacity as objective criteria in tender decisions under the Preferential Procurement Policy Framework Act. (SOURCE: Moneyweb)
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... AS FLYSAFAIR OWNERSHIP FIX KICKED FOR TOUCH
The Johannesburg High Court has set aside the International Air Services Council’s deadline requiring FlySafair to rectify its foreign ownership levels. The Council had ruled that the airline exceeded the 25% foreign ownership cap, ordering corrective action within six months. FlySafair challenged the decision, arguing that the ruling was procedurally unfair and lacked factual basis. The court agreed, finding the Council acted beyond its powers. The judgment removes immediate regulatory pressure on FlySafair, South Africa’s leading low-cost carrier, though ownership compliance remains under scrutiny as part of broader aviation industry reforms. (SOURCE: News24)
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AFRIMAT SHUTTERS ANTHRACITE MINE ON SMELTER WOES
Afrimat has placed its Nkomati anthracite mine in Mpumalanga on care and maintenance due to weak demand from ferroalloy smelters battling high energy costs and market pressures. The decision affects its underground operations, though open-cast mining continues at reduced output. CEO Andries van Heerden said the company would reassess once smelter conditions improve. South Africa’s ferroalloy industry, a key buyer of anthracite, has faced production cuts amid Eskom’s load-shedding, rising input costs, and falling global prices. Afrimat remains focused on diversification through its bulk commodities, industrial minerals, and construction materials divisions, which continue to perform strongly. (SOURCE: News24)
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MONDI PROFIT PLUNGE HIGHLIGHTS PAPER-DEMAND COLLAPSE
JSE-listed British paper and packaging company Mondi warned of weak demand and declining prices across most pulp and paper grades, sending its shares down over 17% to a 12-year low. The company cited oversupply, fragile market confidence, and lower selling prices, in tandem with European rivals Enso, UPM, and SCA as US competitors dropped 4–5% in premarket trading. Mondi plans to reorganise into two business units, delay a Canadian paper machine investment, and focus on cost cuts and cash generation. (SOURCE: Reuters)
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SA EYES AT LEAST R34 BILLION FROM AFRICAN TRADE BANK
South Africa is moving to full sovereign membership of the $43 billion (about R745 billion) African Export-Import Bank (Afreximbank) to unlock major funding. The government aims to secure between R34 billion and R51 billion for its Transformation Fund, supporting black-owned enterprises. Sovereign membership will give SA a seat on the bank’s board, access to preferred credit status, and inclusion in large-scale infrastructure projects across Africa. Parliament’s trade and industry committee has endorsed the move, pending National Assembly approval. The Afreximbank pipeline includes over R100 billion in projects involving Eskom, Transnet, and regional energy ventures - strengthening SA’s trade footprint and investment confidence across the continent. (SOURCE: BDLive)
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WEF SEES STRONGER SUB-SAHARAN GROWTH ON COMMODITIES
The World Economic Forum (WEF) projects a more positive growth outlook for Sub-Saharan Africa, supported by improving investment flows, infrastructure recovery and stabilising commodity prices. Economists anticipate firmer expansion across key regional economies, though persistent inflation and new US trade tariffs could dampen momentum. While sectors such as agriculture, energy and technology are driving renewed optimism, policymakers are urged to prioritise fiscal discipline and structural reforms to sustain gains. The WEF report highlights that Africa’s resilience and demographic potential remain powerful long-term growth drivers, despite ongoing global uncertainty and external financial pressures. (SOURCE: Bloomberg)
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RED-FACED DELOITTE ADMITS A1 ERRORS IN AUSTRALIAN REPORT
Deloitte Australia will repay part of the AU$440 000 (about R5 million) it received from the federal government after an official report was found to contain AI-generated errors, including fabricated court quotes and references to non-existent research. The Department of Employment and Workplace Relations said Deloitte confirmed incorrect footnotes and references in its 237-page review of welfare system automation. A revised version now discloses that Azure OpenAI was used. Sydney University researcher Chris Rudge exposed up to 20 false citations, prompting calls from lawmakers for Deloitte to refund the full amount and stronger oversight of AI-assisted government reporting.
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GOLD SHATTERS $4 000 BARRIER AMID GLOBAL TURMOIL
Gold surged past $4 000 an ounce for the first time as investors flocked to safe-haven assets amid US fiscal uncertainty and a government shutdown. The precious metal has soared more than 50% this year, outperforming equities and marking its strongest run since the 1970s. Analysts cite concerns over the Federal Reserve’s independence, rising geopolitical risks, and robust central bank buying as key drivers. Bullion-backed ETFs also recorded their biggest inflow in three years, underscoring renewed investor confidence. Market strategists now see prices climbing toward $4 500 by mid-2026, with gold reaffirming its status as a hedge against volatility and policy instability. (SOURCE: Bloomberg)
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... AS INVESTORS BET ON BITCOIN REACHING R2.6 MILLION
Bitcoin’s record-breaking rally past $125 000 (about R2.27 million) has investors eyeing $140 000 (R2.6 million) by year-end, with options traders piling into bullish calls, according to Deribit data. Open interest for Bitcoin futures hit an all-time high of $75 billion, reflecting growing confidence despite recent volatility. The rally, fuelled by $3.2 billion inflows into US Bitcoin ETFs and macroeconomic uncertainty after the US government shutdown, saw Bitcoin peak at $126 251 on Monday. Analysts warn of potential volatility spikes as bulls target $130 000+, while cautious traders hedge with puts. October, historically Bitcoin’s strongest month, could extend the token’s year-long surge, which has more than doubled its value. (SOURCE: Bloomberg)
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PEOPLE MANAGEMENT FORUM
The forum for HR professionals to discuss and address current and difficult HR matters
Chaired by: Raj Seeparsad
AGENDA
• Welcome & Opening Remarks Facilitator: Rajroshan Seeparsad
• Presentation: New Guidelines and Amendments to the Code of Good Practice on Dismissals Guest Speaker: Commissioner Chandre Woods (CCMA)
• Overview of the new Code
• Anticipated implementation in the 1st quarter of 2026
• Practical implications for employers and HR practitioners
• Most Common Forms of Procedural Unfairness in Dismissals (2019–2024)
• Analysis of CCMA and Labour Court cases
• Compensation awards up to R925,000.00
• Key lessons for employers to avoid costly mistakes
• Case Study: Nedbank Sexual Harassment Case
• Labour Court judgment and implications
• Employer responsibilities in preventing workplace harassment
• Managing HR Planning, Recruitment, Selection and Assessment in Light of the Amended Employment Equity Act
• Strategic compliance considerations
• Best practice recommendations
Q&A Session and Open Discussion & Networking with continue throughout the session
Date: 15 October 2025
Time: 15:00 - 17:00
Venue: PMCB Offices - 1 Parkhaven , 55 Macleroy Road, Northern Park, Pietermaritzburg
Cost: Free - PMCB members, R50 (incl. vat) non PMCB members |
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Don’t think of cost. Think of value.
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| Dollar | R17.24 | - 0.18% | | Pound | R23.09 | + 0.04% | | Euro | R20.03 | + 0.12% | | Yen | 0.113244 |
| | Yuan | R2.42
| - 0.14% | | Bitcoin | $ 121 293.39
| - 0.62% |
These rates are correct at time of going to press. | | Platinum | $ 1 647.70
| + 1.21% | | Gold | $ 4 031.48
| + 1.18% | | Oil | $ 65.95
| + 0.35% | | All Share | 109 449.53
| - 0.43% | | Repo | 7.00 | | | Prime | 10.50 | |
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