| CHAMBER MANAGEMENT BOARD NOMINEES IN A CLASS OF THEIR OWN |
The leadership of the Pietermaritzburg and Midlands Chamber of Business is in good hands, judging by the calibre of candidate for election - and re-election - to the management board at the 22 July AGM. All nine nominees are C-suite executives with most boasting impressive academic credentials and spearheading their companies’ contribution to the city’s economy.
Of the nine hopefuls contesting seven vacancies, six are returning directors, including incumbent President Dr John Buyers of PDC, First Deputy President Bonga Ndaba (BSN) and Second Deputy President Harry Shaw (Shaw & Wall) as well as Kervin Budram (Aberdare Cables), David Poole (Austen Smith Inc Attorneys) and Mzi Tyhokolo (SLG). The newcomers are municipal rating expert Janet Channing (MetGovis and BPG Mass Appraisals), chartered accountant Jennifer Reddy (Morar Inc) and Ndiweni Qhubekani, the general manager of Eden Gardens Private Hospital. The elected directors will join Thirusha Govender, Ali Engelbrecht, Mark Gutridge, Kevin Smith, Raj Seeparsad, Sharryn Middleton and Themba Ndhlovu on the board.
Nominations for committee members to serve Business Fighting Crime (BFC), the crime-fighting division of the PMCB, will be taken at its AGM, directly after the Chamber AGM. Interested members willing to serve on the BFC committee should also contact chair Kantha Naidoo at kantha@asmalls.co.za. |
| DUZI FIELDS REVIVAL TO ANCHOR 13 JULY MADIBA DAY CAMPAIGN |
 |
(ltr, front) Glenn Mc Arthur (KPCA Group) Dr Liz Thomson (Upper West Side Community Group) and Lara Edmonds (KPCA Group) at the dilapidated Duzi Fields.
The revival of the Duzi Fields, once a vibrant sports hub along the Duzi River, is the theme of the KPCA Group’s 2025 Madiba Day campaign. In partnership with St Nicholas Diocesan School and the Upper West Side Community, KPCA is spearheading efforts to restore the neglected grounds - now plagued by invasive weeds, broken infrastructure and health hazards.
The project’s public launch on 13 July will feature a festive 3 km “Rock-the-Block” walk, starting at Save Hyper, to showcase rehabilitation progress and rally support. Businesses are urged to team up or donate towards the project. “Together, the city can reclaim Duzi Fields and a brighter future,” said KPCA Executive Director Lara Edmonds. Proceedings on Madiba Day at Save Hyper in Victoria Road start at 8.30 am. Entry is R50 (adult) and R25 (children). For more information, contact Edmonds on 0845870880 or at info@kpca.co.za. |
| WILL BATTERY SWOPPING FAST TRACK EV SHIFT IN SOUTH AFRICA? |
| Battery swapping stations are emerging as a fast, efficient solution for electric vehicle users, especially for delivery bikes, taxis, trucks, and buses that need to stay on the road. Instead of lengthy charging stops, drivers can simply swap batteries for ones of similar age and quality. These stations also charge batteries slowly off-site, avoiding heat damage and extending battery life—making them a smarter, longer-term alternative to fast charging. |
1962: Algeria gained its independence from France after 132 years of French rule and a violent seven-year war. Ahmed Ben Bella became the first president.
Elsewhere, in 1982, the comedy Back to the Future, was released.
The odious legacy of one of humankind’s most ubiquitous inventions is observed today, on International Plastic Bag-Free Day.
|
RISING RENTALS MEAN MORE RISKS FOR PROPERTY OWNERS
High interest rates and living costs are pushing more South Africans into the rental market, boosting rental yields across the country. The 2025 Rode Report shows rentals have outpaced inflation since late 2024, with the Western Cape leading at 5.4% growth. However, affordability challenges and a growing number of high-risk applicants are raising alarm. PayProp data reveals 26% of applicants now fall into the highest risk category, with income remaining the strongest predictor of payment reliability. Defaults are rising too - 18.3% of tenants are in arrears.
With only 60% of landlords screening tenants, experts warn that tighter vetting is essential to avoid costly vacancies and evictions in an increasingly polarised market. (SOURCE: Moneyweb) |
BENIGN INFLATION OUTLOOK SETS SCENE FOR RATE CUT
South Africa’s inflation expectations have dropped to a near four-year low, supporting the case for further interest rate cuts. The Bureau for Economic Research reports that average inflation expectations two years ahead fell to 4.5% in Q2, aligning with the central bank’s target midpoint. This decline, coupled with low current inflation, strengthens expectations of a 25 basis point rate cut to 7% at the Reserve Bank’s 31 July meeting. Governor Lesetja Kganyago noted this “opportunistic disinflation” could anchor expectations further. However, uncertainty from global geopolitical tensions, including Trump’s trade policies, still clouds the inflation outlook and monetary policy trajectory. (SOURCE: Bloomberg) |
TREASURY STANDS FIRM AGAINST RESERVE BANK NATIONALISATION
National Treasury has cautioned that plans to nationalise the South African Reserve Bank (SARB) could unsettle investors and raise fears around property rights and expropriation. Treasury deputy director-general Chris Axelson told Parliament’s finance committee that while full state ownership of SARB may be ideologically attractive, it could come at a high economic cost, potentially deterring investment and hindering growth. The Reserve Bank Bill under review proposes transferring all shareholding to the state and granting the finance minister power to appoint board directors. Treasury warned the move may threaten SARB’s operational independence and governance integrity, raising concerns at a time when investor certainty remains crucial for economic stability. (SOURCE: Bloomberg) |
... AS SARB SET TO TURN SCREWS ON MUTUAL BANKS
The South African Reserve Bank’s Prudential Authority (PA) has committed to tightening regulation of mutual and non-compliant banks. PA CEO Nomfundo Tshazibana announced new prudential standards covering governance, credit, and liquidity risks as impaired advances in mutual banks reached 12.8% - far higher than the 5.3% sector average. Despite their small size, mutual banks hold billions in public deposits, making oversight critical. The PA flagged concerns with Ithala SOC Ltd, which continues to operate illegally after its banking exemption expired in 2023. The PA is also pursuing curatorships and liquidations across troubled banks and insurers, reinforcing its mandate to protect depositors and ensure financial system stability amid rising economic stress. |
CONSUMER COMMISSION ON WARPATH AGAINST TARDY RETAILERS
The National Consumer Commission (NCC) has issued compliance notices to 45 suppliers across South Africa for violating the Consumer Protection Act. Offences include selling expired and unlabelled food items such as meat, dairy, noodles, and maize meal, and failing to display prices or issue proper receipts. NCC acting commissioner Hardin Ratshisusu said the action aims to safeguard consumers and ensure food safety. Offending suppliers must remove non-compliant goods, improve labelling, and display clear pricing. Non-compliance may result in referral to the National Consumer Tribunal, which can impose fines of up to R1 million or 10% of annual turnover. Investigations continue. (SOURCE: Engineering News) Parliament’s Scopa to Probe RAF over Misuse of Funds |
PARLIAMENTARY INQUEST INTO RAF MISMANAGEMENT IN AUGUST
Parliament’s Standing Committee on Public Accounts (Scopa) will launch a full inquiry into allegations of maladministration and misuse of public funds at the Road Accident Fund (RAF), covering the 2020/21 to 2024/25 financial years. Scopa chair Songezo Zibi said the inquiry will prioritise governance failures, procurement irregularities, financial management, litigation spending, and unaccounted cash reserves of up to R11 billion. Witnesses, including RAF executives and whistleblowers, will testify under oath. Zibi emphasised the inquiry’s focus on oversight, not transport policy. The RAF, under financial strain for decades, blamed its unsustainable model and called for legislative reform to ensure viability. (SOURCE: Moneyweb) |
PRIVATE SECTOR EYES AGIST FOR TRANSNET RAIL PROPOSALS
Transport Minister Barbara Creecy announced that Transnet will begin issuing requests for proposals (RFPs) from late August to attract private sector investment in five key rail and port corridors. While infrastructure will remain publicly owned, Creecy emphasised that state funding is insufficient and private capital is essential. RFPs will be guided by earlier information requests focused on mineral and container freight routes. While private participation could take two years to finalise, immediate rehabilitation of rail lines, rolling stock, and ports will be funded via Transnet’s budget, National Treasury’s infrastructure facility, and co-investments from freight customers under new legal frameworks.(SOURCE: Engineering News) |
PETCO TOASTS 99% RECYCLING SUCCESS
Petco, South Africa’s producer responsibility organisation for PET plastic and liquid board packaging (LBP) diverting 76 000m³ of waste from landfills. The organisation met 99% of recycling targets for packaging placed on the market by its 29 major brand members. LBP recycling surged over 200% year-on-year, thanks to new infrastructure, grassroots partnerships, and a buy-back centre support team. Petco also invested R70 million to support small recyclers and empowered over 4 700 individuals through training. (SOURCE: Bizcommunity) |
SA TO DRIVE CHINESE AUTOMOTIVE GROWTH IN AFRICA
South Africa is emerging as a strategic hub in Chinese automakers’ expansion across Africa, as brands like BYD, Chery, and GWM ramp up their presence amid growing trade restrictions in the US and EU. Leveraging competitive pricing and plug-in hybrid models, Chinese firms are targeting Africa’s underdeveloped auto market, with plans for local assembly and dealership growth. Chery is rolling out eight new hybrid models, while BYD expands its EV lineup. Despite infrastructure challenges, Chinese carmakers see rising demand and policy incentives as key enablers. South Africa’s mature auto sector offers a launchpad for broader market access across the continent. (SOURCE: Reuters |
SURGING KWACHA'S OUTLOOK WEDDED TO PRICE OF COPPER
Zambia’s Kwacha is poised for sustained gains if its traditional correlation with copper prices is restored, according to Citigroup. The currency has appreciated nearly 16% against the Dollar in 2025, bolstered by a 13% rise in copper - Zambia’s key export. Citi’s chief Africa economist, David Cowan, notes that a stronger copper price historically boosts sentiment toward the Kwacha. Though the 2020 debt default disrupted this link, a renewed correlation could usher in a period of “volatile-stability” or appreciation. However, FNB Zambia warns that persistent dollar demand and liquidity constraints may weaken the kwacha in July, with resistance seen at 25.30. (SOURCE: Bloomberg) |
SAFE-HAVEN GOLD SHINES AS R55 TRILLION US BUDGET GETS NOD
Gold prices remain buoyant as investors weigh growing fiscal risks stemming from President Donald Trump’s newly passed $3.3 trillion (about R58 trillion) tax-and-spending bill. The Senate narrowly approved the package, sending it to the House, where its future remains uncertain. If enacted, the legislation is expected to widen the US deficit significantly over the next decade, amplifying concerns about economic stability. This has strengthened gold’s appeal as a safe-haven asset, especially amid ongoing trade tensions and weak Dollar performance. Bullion is holding near $3 340/oz - up over 25% this year - as central bank demand, geopolitical risk, and market uncertainty continue to fuel investor interest. (SOURCE: Bloomberg) |
CHAMBER LUNCH - CHRISTMAS IN JULY
Chamber Lunch is a fun networking event which includes a two-course meal, refreshments and lots of lucky draw prizes! Put your business card in the Chamber pot and you may be drawn as a speaker at the next Chamber Lunch.
DATE: 10 July 2025
TIME: 12:30 – 14:30
VENUE: PMCB Offices - 1 Parkhaven, 55 Macleroy Road, Northern Park, Pietermaritzburg
COST: R310 (PMCB Members), R410 (Non-members) Incl. VAT |
|
|
He who loves understands, and he who understands loves.
Unknown |
|
|
|
| Dollar | R17.57 | + 0.01% | | Pound | R23.96 | + 0.01% | | Euro | R20.70 | + 0.02% | | Yen | 0.121948 |
| | Yuan | R2.45 | + 0.01% | | Bitcoin | R109 449.50 | - 0.02% |
These rates are correct at time of going to press. | | Platinum | $ 1 414.81 | - 0.38% | | Gold | $ 3 360.73
| + 0.11% | | Oil | $ 68.50
| - 0.91% | | All Share | 96 609.21
| - 0.31% | | Repo | 7.25 | | | Prime | 10.75 | |
|
|
|
|
|
