| MARKETS WARY AS MIDEAST PEACE TALKS LIFT RAND, DOWN OIL |
The ebbing and flowing of war and peace talks between Iran and the United States drove sharp swings across global markets yesterday. In South Africa, the JSE jumped nearly 4% to 119 166 points as risk appetite improved, while the Rand strengthened to R16.40 against the Dollar. Gold rose to $4 701 per ounce while Brent crude eased to just above $100 a barrel. Mining stocks led gains, with gold shares surging around 10%. Oil weakness helped ease inflation concerns globally. Volatility remains tied to peace negotiations and energy supply risks. Markets are expected to remain sensitive to headlines from ongoing diplomatic talks today. (SOURCE: Moneyweb/Bloomberg)
See below: PIC assets take R350 billion loss on Mideast war |
| CITY MOURNS PASSING OF BELGOTEX FOUNDER |
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Founder and chair of Belgotex Stephan Colle passed away on Monday morning surounded by his wife Anne and family. Pietermaritzburg and Midlands Chamber of Business CEO Melanie Veness paid tribute to his contribution and the legacy he had left in the city and across the world.
“We’ve lost a giant of our city, whose warmth and brilliance impacted many lives, not only here, but across the globe. Stephan showed us what is possible when a local heart meets a global vision. He was an outstanding businessman and a remarkable human being, who leaves a legacy that will reverberate across generations to come. I always enjoyed engaging with him. I appreciated his openness and good humour alongside the no-nonsense directness, and also his loyalty and staunch support of our community and of our work. On behalf of the PMCB family, I extend our deepest condolences to his family - Anne, Edward, Helen and Alice - as well as to Luc, Evan and the team at Belgotex. His mark is indelible, and his spirit unforgettable.”
Click here to download an obituary by Luc Blommaert (Global CEO, Belgotex International) and Evan Lockhart-Barker (CEO, Belgotex South Africa).
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| 14-HOUR OUTAGE TO BLACK OUT CITY ON SATURDAY |
Businesses and residents in Pietermaritzburg are advised of a planned electricity outage affecting multiple areas supplied by the Msunduzi Masons 1 and 2 132kV lines. Msunduzi Municipality says Eskom will conduct repairs on overhead infrastructure on Saturday, 9 May 2026, from 5 am to 7 pm, with Sunday, 10 May, reserved as an alternative date. The outage is expected to cause total power loss across several substations and surrounding areas during the 14-hour maintenance window.
The following areas will be affected: Masons Primary, Masons Mill, Eden Gardens Hospital, Afrox, Somta and surrounding areas. Prince Alfred Primary, Napierville, Pelham, Southlands, parts of Scottsville, Bisley and surrounding areas, Pine Primary, City West, Clarendon, Prestbury, Boughton, Mpumuza, Wembley and surrounding areas, Retief Primary, Lower CBD, Midlands Mall, Part of City East, Chase Valley, Montrose and surrounding areas, Archbell Primary, part of CBD, City Centre, City Hall, St Annes Hospital and surrounding areas, Crossways Primary, Hilton, Winterskloof, Sweetwaters and surrounding areas.
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1993: The short-lived Afrikaner Volksfront was founded by 21 right wing organisations in opposition to the multi-party negotiation process.
Elsewhere, in 1945, Nazi Germany surrendered unconditionally to the Allies at General Eisenhower's HQ in Rheims, France.
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DA PUSHES BILL TO REPLACE B-BBEE POLICY 'BENEFITING ELITE'
The DA has tabled a bill to replace BEE with an income-based model targeting poverty and job creation, arguing current policy disproportionately benefits a small politically connected elite. Chief whip George Michalakis says the proposal would direct support to low-income South Africans across all races, using metrics such as household income, employment status and access to opportunity.
South Africa’s unemployment rate remains above 30%, with youth unemployment exceeding 45%, while inequality is among the world’s highest, reflected in a Gini coefficient above 0.6. The DA argues these figures show limited broad impact from BEE.Critics, including government leaders, maintain BEE remains essential to redress historical injustices and expand participation in the economy. The proposal is likely to intensify debate over transformation policy, with business groups warning that uncertainty around empowerment rules could further unsettle investment and economic growth prospects. (SOURCE: BDLive)
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... AS STATE INVOKES BOER WAR, APARTHEID DEFENCE IN COURT
The state has invoked the legacy of the Second Boer War and apartheid in defending black economic empowerment codes for South Africa’s legal sector. Arguments continued in a landmark court challenge brought by four of the country’s largest law firms, which argue the new B-BBEE legal sector codes are unconstitutional and impose unfair race-based requirements. Government lawyers contend the measures are necessary to address deep historical exclusion and inequality within the profession. The state argues transformation remains essential more than three decades after apartheid, while opponents maintain the codes threaten merit, competitiveness and constitutional protections within the legal industry. (SOURCE: News24)
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DIGITAL MONITORING TO REIN IN R700 BILLION ILLICIT ECONOMY
South Africa plans to introduce a national track-and-trace system aimed at curbing smuggling and disrupting the country’s estimated R700 billion illicit economy. Authorities say the digital monitoring platform will improve oversight of products such as cigarettes and alcohol by tracking goods through the supply chain in real time. The National Consumer Commission and other agencies believe the system could strengthen tax collection, reduce counterfeit trade and support legitimate businesses losing revenue to illegal imports and bootlegging. Law enforcement agencies have intensified seizures of illicit goods in recent years, but officials argue technology-driven monitoring is essential to improve enforcement and close gaps exploited by organised criminal networks and smugglers. (SOURCE: BDLive) |
VEHICLE SALES SURGE TO APRIL HIGH AS EXPORTS SLOW
South Africa’s new vehicle market recorded its strongest April in over a decade, with domestic demand rising despite weaker export performance. According to Naamsa, total domestic sales reached 47 979 units, up 13% year-on-year and the best April since 2013. Passenger cars led growth, while light commercial vehicles and trucks also improved. Exports fell 4% to 30 939 units, mainly due to a sharp drop in light commercial shipments during model changeovers. Dealer sales dominated overall activity. Rising global oil prices are increasing transport and logistics costs, though temporary fuel levy relief has helped cushion consumers and support market resilience. (SOURCE: FreightNews)
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EXPORTERS TO CASH IN ON CHINESE TARIFF WAIVERS
From wine to robots, South African exporters are poised to benefit from China’s move to scrap or reduce tariffs across a range of import categories, opening access in agriculture, manufactured goods and advanced components. Producers of wine, citrus, macadamias and automotive parts are expected to be early winners, alongside firms supplying industrial automation and robotics inputs. Trade analysts say improved price competitiveness could accelerate demand in China’s post-stimulus recovery phase, particularly for premium and niche products. However, logistics constraints and compliance standards remain key hurdles. Exporters are now racing to secure distribution partnerships and scale capacity for expected order growth. (SOURCE: News24)
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... AS POULTRY PRODUCERS CRY FOUL OVER US IMPORTS
South African poultry producers have taken government to court over frozen chicken imports from the US, arguing the volumes threaten local jobs and production. The dispute centres on the annual duty-free quota of about 72 000 tonnes of US bone-in chicken portions entering South Africa under trade agreements. Industry bodies say the local poultry sector supports more than 110 ,000 direct and indirect jobs and contributes billions of rand to the economy, while producers face escalating feed, electricity and logistics costs. Government argues the imports help contain food inflation and honour international trade commitments. Producers warn continued low-cost imports could weaken investment, plant expansion and long-term industry sustainability. (SOURCE: News24)
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AI DIAGNOSTIC TOOLS OUTPERFORM DOCTORS IN STUDY
Artificial intelligence models have outperformed doctors in a South African hospital study, highlighting the technology’s potential to ease pressure on overstretched healthcare systems. Researchers found AI-driven diagnostic tools delivered faster and more accurate assessments in selected clinical scenarios, while operating at lower cost. The findings suggest AI could help reduce workloads in public hospitals facing staff shortages, long queues and rising patient numbers. Health experts cautioned that AI should support, not replace, medical professionals, stressing the need for oversight, ethical safeguards and reliable data. The study adds to growing global interest in using artificial intelligence to improve healthcare access, efficiency and patient outcomes. (SOURCE: BDLive) |
... AND HOME-GROWN MODEL SUPPORTS ALL 11 LANGUAGES
Researchers at the University of Cape Town have developed MzansiText and MzansiLM, a multilingual dataset and decoder-only AI model supporting all 11 official written South African languages. The 125-million parameter model, though small by global AI standards, outperformed far larger open-source systems on several local language benchmarks, including isiXhosa text generation. The model is not a chatbot like ChatGPT, but a foundation tool designed for fine-tuning into specialised applications such as translation, summarisation and data annotation. Developers say it could reduce costs and improve access to AI tools in under-resourced languages like isiNdebele and Sepedi, where data scarcity has limited progress in natural language processing globally. (SOURCE: Engineering News)
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INDEPENDENT POWER PRODUCERS EYE 5 252 MW DEPLOYMENT
South Africa is set for a record year of independent power producer (IPP) deployments in 2026, driven by utility-scale solar, wind and battery storage projects. Research from UCT’s Power Futures Lab shows 1 932 MW already reached financial close, with a further 3 320 MW expected by year-end, potentially lifting total new capacity to about 5 252 MW across 34 projects. Most activity stems from REIPPPP bid windows six and seven and the battery storage programme. A growing private commercial and industrial market is also emerging through energy traders. Domestic banks are increasingly financing large projects. Grid constraints and regulatory delays remain key risks. (SOURCE: Engineering News)
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... AS CALLS MOUNT FOR STRATEGIC SOLAR LOCALISATION
The South African Photovoltaic Industry Association (SAPVIA) is urging a more strategic approach to localisation as the country’s solar PV boom accelerates. While rapid deployment of rooftop and utility-scale solar is driving investment, most high-value components such as modules, inverters, trackers and batteries are still imported. SAPVIA CEO Dr Rethabile Melamu warns that without policy certainty, incentives and a stable demand pipeline, South Africa risks missing industrialisation gains. The sector has grown strongly, adding up to 3 GW in two years, but manufacturing remains limited. SAPVIA calls for targeted localisation, skills development and improved infrastructure to build regional competitiveness. (SOURCE: Engineering News)
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PIC ASSETS TAKE R350 BILLION HIT ON MIDEAST LOSSES
The Public Investment Corporation (PIC) has reported a near R350 billion hit to assets amid market turmoil linked to the US-Iran war, CEO Patrick Dlamini told Parliament’s standing committee on finance. The losses reflect sharp declines across global equities, bonds and currency markets as geopolitical tensions rattled investor confidence. The PIC, which manages funds on behalf of government employees, said volatility has significantly eroded portfolio values in the short term. Despite the setback, Dlamini stressed the fund remains long-term focused and diversified. Lawmakers raised concerns about exposure to global shocks, highlighting the vulnerability of South Africa’s savings pool to external geopolitical risks and market instability. (SOURCE: BDLive) |
... AS AFRICAN PORTS MISS OUT ON 90% REFUEL DIVERSION
African ports are missing out on a major shipping windfall despite vessels diverting around the Cape of Good Hope after the Strait of Hormuz closure on 28 February. Traffic on the route has surged as much as 90%, yet most gains are bypassing major hubs like Durban and Cape Town due to congestion, weather delays and limited incentives for carriers to alter rotations. Bunkering hubs such as Port Louis in Mauritius saw fuel calls jump 42% to 294 vessels in March, with volumes up nearly 60% to over 109 000 tonnes. However, Africa still handles only about 2% of global maritime exports, with gains concentrated in refuelling and services rather than cargo throughput. (SOURCE: Bloomberg)
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LEAN FORUM
FMEA – MANAGING RISK BEFORE IT BECOMES A PROBLEM
An interactive, clarity boosting Lean session you don't want to miss!
The next Lean Forum at the PMCB will focus on Failure Modes and Effects Analysis (FMEA) as a practical approach to managing risk. Too often, solutions intended to improve performance create new problems elsewhere. FMEA helps teams identify potential failures and unintended consequences before changes are made.
The forum will show how FMEA applies not only in manufacturing, but also in service environments, offering a tangible and structured way of going about risk management that supports better decision making and sustainable improvement.
Who should attend
Risk practitioners
Engineers
Health and safety managers
Continuous improvement and operations leaders
Whether you're new to FMEA or already using it, you'll walk away thinking: "How did we manage risk and make changes without this level of clarity?"
Date: 12 May 2026
Time: 15:00 - 17h00
Venue: PMCB Office
Cost: Free - PMCB members, R60 (incl. vat) non PMCB members
Hosted by Training Leadership Consulting (TLC) TLC provides innovative and customised training and consulting solutions for Business Improvement, Leadership Development and Change Management services. TLC's facilitators and consultants have extensive experience across multiple industries in Business Process Management, Lean, Six Sigma, Data Analytics, Change Management and Programme Management, in large-scale business process improvement projects. |
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Success in business requires training and discipline and hard work. But if you're not frightened by these things, the opportunities are just as great today as they ever were.
David Rockefeller |
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