| BALMY WEATHER BLESSES XTEC-SPONSORED CHAMBER GOLF DAY |
 |
(ltr, top) Top lady golfer Aaria Bhagwandeen (Varsity College) and the winning Volta Enterprises team of Shahil Sookdew, Rahim Shaik-Ebrahim, Elias Mokgonyana and Anesh Singh. (ltr, bottom) The second-placed Apex Gas team of Mervin Puckree, Vinod Harry and Trishen Naidoo and the third-placed SLG team of Pragasen Govender, Segie Reddy, Vijay Maistry and Mzi Tyhokolo.
The Xtec PMCB Golf Day 2025, with support sponsors SLCNG and Santova Logistics, held on Friday, 29 August at the Victoria Country Club in Pietermaritzburg, enjoyed balmy weather and perfect conditions for a memorable day on the greens. In all, 29 teams teed off in one of the showcase events on the Pietermaritzburg and Midlands Chamber of Busienss calendar on a day of mixed skills and great camaraderie. The Volta Enterprises foursome carried too much spark on the day to claim the honours, followed by Apex Gas and SLCNG. Rounding to Top Eight were Centa Firequip, Profile Property, Coffeeberry, Prompt Golf, and DVH Law. Special winners included Best Lady Golfer Aaria Bhagwandeen (Varsity College), Santova-sponored Chipping Champion Mervyn Puckree (Apex Gas & Industrial) and Mafoota Putting Champion Warren Humpries (PSG), courtesy of Brink Towing Systems. |
| WATER-CUT WARNING AS MSUNDUZI CURTAILMENT MEASURES KICK IN |
| While intervention measures to mitigate possible water cuts are being rolled out by Msunduzi Municipality, very little is being said about the root caue of the water losses - leaking pipes and poor maintenance. The upshot is that businesses and residents are bracing for disruptions to supply in the wake of directives from the Department of Water and Sanitation that uMngeni-uThukela Water has to reduce extraction from the uMngeni system, affecting Msunduzi, eThekwini, and uMgungundlovu. The municipality announced pressure reductions, reservoir restrictions, meter flow controls, and disconnections for illegal connections, warning of unscheduled low pressure and outages. Residents and industries are urged to cut consumption. Critics, however, blame poor maintenance, citing burst pipes and unrepaired leaks. With losses estimated at 28%, opposition parties demand accountability as fears of worsening shortages grow. |
| FUEL-PRICE RELIEF AT MIDNIGHT, BUT MAY BE SHORTLIVED ... |
| Motorists will see slight fuel price relief at midnight when the September prices kick in. Petrol will go down 4 cents and diesel dropping 56 cents per litre. Declining Brent crude prices and a firmer Rand drove the cuts, easing inflation pressures after July hit 3.5%. However, food inflation and geopolitical risks remain threats. While fuel remains cheaper than a year ago, economists caution the relief may be short-lived as inflation trends upward. (SOURCE: Moneyweb) |
1879: The Anglo-Zulu War officially ended.
Elsewhere, in 2008, Google Chrome was officially launched.
|
'ABSURD' EMPLOYMENT EQUITY QUOTAS HEAD FOR CONCOURT
Sakeliga and the National Employers’ Association of South Africa (NEASA) will appeal directly to the Constitutional Court to overturn a Pretoria High Court ruling that rejected their bid to block new Employment Equity (EE) quotas. The organisations argue the regulations are unconstitutional, harmful, and practically impossible to implement. Alongside the appeal, they plan to pursue a Supreme Court challenge, continue Part B of their case against the EE Act, and support employers in minimising compliance harm.
Both groups advise businesses to record formal objections, set realistic targets, and protect themselves from liability while resisting the government’s “absurd” quota system. (SOURCE: Engineering News)
|
... AS EMPLOYERS URGED TO STAND FIRM AGAINST 'UNREALISTIC' TARGETS
Sakeliga and NEASA have issued detailed guidance to employers on managing new Employment Equity (EE) quotas. They recommend that businesses add conditions to all EEA1, EEA12, and EEA13 forms, clearly stating they cannot be held accountable for racial classifications or unrealistic targets imposed by the regulations. Employers should rely on historical or current data when classifying staff but note their lack of responsibility for its accuracy. Targets for the first four years should align with actual business realities, not arbitrary five-year quotas. Employers are also advised to formally object to the Department of Employment and Labour once completing EE reports, thereby reserving their rights and minimising future liability. NEASA stresses that each case requires careful, personalised advice and recommends contacting them directly. (SOURCE: Engineering News) |
NEARLY 800 PENSION FUND TRUSTEES IN FSCA TROUBLE
South Africa’s Financial Sector Conduct Authority (FSCA) is intensifying oversight of retirement fund governance, warning trustees who fail to complete mandatory training within six months of appointment face enforcement action. Nearly 20% of trustees are non-compliant, with 798 individuals targeted for sanctions. At the Institute of Retirement Funds Africa conference, the FSCA and Pension Funds Adjudicator also flagged employers’ arrear contributions - over R5 billion owed by 7 700 employers - as a pressing concern. The regulator will additionally scrutinise fund expenses and enforce stricter governance under the upcoming Conduct of Financial Institutions Bill, aligning with international consolidation and transparency trends. (SOURCE: Moneyweb) |
INFLATION TARGET ADJUSTMENT PLANS GAIN TRACTION
South Africa’s Macroeconomic Standing Committee is finalising recommendations on potential changes to the country’s inflation target, to be submitted to both the National Treasury and the South African Reserve Bank. Authorities said Finance Minister Enoch Godongwana will make a formal announcement “as soon as practical” to anchor market expectations. Currently, the inflation target range stands at 3% to 6%, but Reserve Bank Governor Lesetja Kganyago has signalled a preference to anchor expectations closer to 3%. The review forms part of broader efforts to strengthen monetary policy credibility and align inflation control with long-term economic sustainability. (SOURCE: Bloomberg) |
AUGUST VEHICLE SALES SURGE AMID RECOVERY MOMENTUM
South Africa’s new-vehicle sales rose 18.7% in August to 51 880 units, driven by affordable imports, stronger consumer confidence, improved credit conditions, and rising disposable income, according to naamsa, The Automotive Business Council. Passenger-car sales surged 22.5% to 36 914 units, the highest since September 2015, with car rental sales making up 15%. Light commercial vehicle sales grew 15.1% to 12 326 units, while medium truck sales fell 3.9% and heavy trucks and buses dropped 8.8%. Vehicle exports increased 6.2% to 37 500 units, up 3% year-to-date. However, looming US tariffs and heightened global competition threaten South Africa’s auto export growth. (SOURCE: Engineering News) |
... AS AGRIBUSINESS CONFIDENCE REMAINS RESILIENT AMID CHALLENGES
South Africa’s Agribusiness Confidence Index (ACI) dipped slightly to 63 in Q3, reflecting optimism despite concerns over foot-and-mouth disease outbreaks and US trade friction, according to Agbiz and the IDC. While subindices for market share, employment, capital investment, exports, and general agricultural conditions declined, turnover and net operating income rose strongly, supported by favourable summer rains and improved port efficiencies. Lower financing costs, aided by easing interest rates, also boosted sentiment. Respondents remain positive about the winter crop season and 2025/26 harvest, though livestock faces pressure. Agbiz stresses diversifying export markets and strengthening biosecurity and land reform to ensure sustainable growth. (SOURCE: Engineering News) |
... AND PMI SLIPS BACK INTO NEGATIVE TERRITORY
The Absa Purchasing Managers’ Index (PMI) fell 1.4 points to 49.5 in August, slipping back into contractionary territory. This reversed July’s brief recovery, with both domestic and export demand subdued. New sales orders dropped sharply, while business activity remained weak for a tenth month. Supplier deliveries slowed, reflecting softer orders, though input costs eased slightly on rand strength. Encouragingly, the employment index rose by 5.2 points to 48.9, while expectations for future conditions edged higher to 56.8. Despite current challenges, the third-quarter PMI average of 50.2 still outperforms the second quarter’s 45.4, suggesting tentative resilience in the manufacturing sector. (SOURCE: Engineering News) |
ROBOTIC KIDNEY DONATION SURGERY MAKES HISTORY
South Africa’s medical landscape reached a milestone with the country’s first robotic-assisted living donor nephrectomy, performed at Tygerberg Hospital in Cape Town on August 28, 2025. The procedure -conducted by Dr Danelo du Plessis using the da Vinci Xi robotic platform - removed a healthy kidney from a 45-year-old mother for transplantation into her 24-year-old daughter. Completed in under 90 minutes, the donor was discharged the next day, and the new kidney began functioning immediately. The minimally invasive approach reduces post-operative pain and speeds recovery. This breakthrough underscores South Africa’s commitment to precision surgery and life-changing innovation. (Good Things Guy, Xinhua News, fastcompany.co.za) |
GROUND-BREAKING PROCESS EXTRACTS RARE MINERALS FROM WASTE
A pioneering extraction process has produced an exceptionally pure rare earth product, optimised in a Johannesburg laboratory. Part of Rainbow Rare Earths’ Phalaborwa project, the innovative process extracts rare earth elements (REEs) from phosphogypsum waste, maximising 65% recovery while minimising impurities via continuous ion exchange. The method reduces traditional mining costs, risks, and timelines. Trade-off studies aim to optimise capex and opex, ensuring low-cost production of high-margin light and heavy REEs. With global demand rising for permanent magnets in green technologies, Rainbow’s environmentally friendly approach positions South Africa as a resilient, competitive REE supplier, pioneering the commercial recovery of REEs from phosphogypsum. (SOURCE: Mining News)
|
GOLD STREAKS TO NEW RECORD ON US INTEREST CUT HOPES
Gold prices surged past $3 500 an ounce, hitting a record high as expectations of imminent US Federal Reserve rate cuts drove demand for safe-haven assets. Spot gold rose 0.6% to $3 497.25 in Singapore, extending a rally of more than 30% this year. Investors are piling into gold and silver as economic softness, geopolitical risks, and uncertainty over Fed independence weigh on markets. Silver, up over 40% this year and surpassing $40 an ounce, is buoyed by clean-energy demand and supply shortages. Analysts predict precious metals will continue setting new highs in a lower-rate, risk-heavy global environment. (SOURCE: Bloomberg) |
|
|
The pain of discipline is far less than the pain of regret.
Jocko Willink |
|
|
|
| Dollar | R17.64 | - 0.28% | | Pound | R23.85 | - 0.19% | | Euro | R20.62 | - 0.18% | | Yen | 0.119082 |
| | Yuan | R2.47 | - 0.04% | | Bitcoin | $ 110 410.20
| + 2.49% |
These rates are correct at time of going to press. | | Platinum | $ 1 416.40
| - 0.01% | | Gold | $ 3 487.12
| - 0.32% | | Oil | $ 68.43
| + 0.48% | | All Share | 101 899.61
| + 0.06% | | Repo | 7.00 | | | Prime | 10.50 | |
|
|
|
|
|
