| OUT-OF-STEP CADRES TURN BLIND EYE TO WRITING ON THE WALL |
There's no stopping the electricity revolution and we’re not only talking about the transition from fossil fuel generation to renewables. The attention is shifting to distribution, a matter of great interest to power consumers in Pietermaritzburg who are embroiled in yet another quest for clarity in the newly-released draft tariffs for 2026/27 (electricity at 9.26%), and that while the 2025/26 tariffs are still under dispute.
At issue, among others, is the elusive Cost of Supply figures to understand the Msunduzi Municipality’s reasoning and its habit of tacking on its own increases on top of what NERSA permits. City Hall’s intransigence is not unique of course which is why the Nelson Mandela Bay Business Chamber is going for the jugular and formally requested Eskom to take over the distribution of electricity. Predictably, the metro’s mandarins oppose the move on constitutional grounds by ignoring on-the ground realities.
The distribution showdown is part of the complex process behind the unbundling of Eskom to create a competitive electricity sector. It’s an inevitable shift as a recent report commissioned by the South African Energy Traders Association (SAETA) points out - urgent reforms are necessary to prevent ongoing inefficiencies and support sustainable industrial growth. If only the entitled cadres in local government will smell the coffee and stop clinging to the unworkable status quo. Derek Alberts (editor)
See below: Blu Label wins energy trading licence |
| TUCKING INTO A WINE-AND-DINE LEARNING EXPERIENCE |
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(ltr) Ashleigh Dick, Caleb Naidoo, Isabella Moig, Singabakhe Mphuli, Jackie Cameron and Nicola Coskey (Vineyard Friends).
The first 2026 Sundowner evening earlier this month set the tone for a packed culinary calendar at the Jackie Cameron School of Food & Wine. Essentially an informal five-course degustation, the monthly event pairs student-prepared dishes with featured wines in an interactive, convivial setting.
The year opened with Vineyard Friends and guided by Nicola Coskey who showcased wines by Douglas Green Wines. Guests enjoyed a spring roll paired with Sauvignon Blanc, followed by homemade pasta with smoked salmon and Chardonnay. Greek-style lamb fillet complemented a Merlot-Malbec blend, while beef and onion pie was matched with Cabernet Sauvignon. Dessert, a Black Forest gâteau with berry ice cream, was served with Pinotage.
The Sundowner evenings provide valuable hands-on experience for students while offering diners innovative food-and-wine pairings.
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| COSATU PLANS NATIONAL SHUT-DOWN ON 26 FEBRUARY |
The Congress of South African Trade Unions (COSATU) served notice of protected nationwide protest action on 26 February 2026, targeting steep contribution increases by the Government Employees Medical Scheme (GEMS). Contributions rose 13.4% in 2025, 9.8% in January 2026 and will climb a further 9.5% in April - far outpacing public servants’ 5.5% and 4% wage increases. The action is protected under Section 77 of the Labour Relations Act. While employees cannot be dismissed for participating, employers may apply “no work, no pay”. Significant absenteeism and public service disruptions are expected. (SOURCE: GlobalBusiness)
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1980: Seven “homeland” leaders set out the basis of a possible consensus solution for South Africa’s constitutional future.
Elsewhere, in 1930, amateaur astronomer Clyde Tombaugh discovered Pluto.
The first Ironman triathlon was held in Hawaii. |
SA UNEMPLOYMENT AT 31.4% LOWEST IN 5 YEARS
South Africa’s unemployment rate eased to 31.4% in Q4 2025, the lowest level since Q3 2020, according to Statistics South Africa. The figure declined from 31.9% in the previous quarter, beating economists’ expectations of 31.7%. Job gains were driven mainly by hiring in community and social services, as well as construction. While offering modest relief, the rate remains among the highest globally and has stayed above 30% since the Covid-19 shock. Cyril Ramaphosa has pledged to accelerate economic reforms to spur growth and investment, with Finance Minister Enoch Godongwana expected to outline further measures in the upcoming national budget. (SOURCE: Moneyweb)
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... AS INVESTORS SNAP UP 5-TIMES OVERSUBSCRIBED BONDS
Investor demand surged at South Africa’s weekly bond auction, signalling optimism ahead of next week’s national budget. Primary dealers bid R14.2 billion for just R3 billion in debt on offer, nearly five times oversubscribed, according to the South African Reserve Bank. Long-dated notes due 2044 attracted R5.46 billion in bids, 5.5 times the allocation. The rally reflects expectations that Finance Minister Enoch Godongwana will outline a credible fiscal path on February 25, potentially trimming issuance amid commodity-driven revenue gains. The 2044 bond yield fell to 8.54%, its lowest closing level since 2015, underscoring renewed confidence in South Africa’s fiscal outlook. (SOURCE: Bloomberg)
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VEHICLE EXPORTS HIT RECORD 414 268 UNITS DESPITE US TARIFFS
South Africa’s vehicle exports surged 5.9% to a record 414 268 units in 2025, despite US tariffs, according to National Association of Automobile Manufacturers of South Africa. Exports accounted for 70.3% of local light vehicle production and reached 109 countries. Shipments to North America plunged from 25 554 to 6,530 units after Section 232 duties, while Asia declined. However, Europe offset losses, rising to 332 695 units and making up 80.3% of exports under EU and UK trade agreements. Naamsa urged clear policy support for new energy vehicles to secure future investment and remain globally competitive. (SOURCE: BDLive)
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SOARING SENTIMENT UNDERPINS HOUSING MARKET RECOVERY
South Africa’s housing market is showing early signs of a demand-led recovery, supported by lower inflation and easing interest rates. Estate agent sentiment rose to 75% in Q4 2025, according to FNB, reflecting stronger buyer inquiries and quicker sales. Transaction volumes are improving ahead of prices, signalling gradual normalisation rather than overheating. Construction remains subdued due to high building costs and weak developer confidence, keeping supply tight. The mid-market segment is active, while luxury properties above R3.6 millio regaining momentum. Regionally, the Western Cape leads activity, with Gauteng and KZN showing steady recovery. (SOURCE: BDLive)
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R370 SRD GRANT TO BE EXTENDED
he Social Relief of Distress (SRD) grant has been extended until March 2027, with beneficiaries continuing to receive R370 a month and no increase in value. The Department of Social Development confirmed the extension following an announcement by Cyril Ramaphosa during his state of the nation address. The grant, introduced during the Covid-19 pandemic, was due to expire next month. Draft regulatory amendments have been published for public comment, with submissions open for 21 days. Final regulations must be gazetted before the end of March to ensure uninterrupted payments into the new financial year.
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FMD VACCINATIONS PICK UP PACE, 5 MILLION DOSES TO LAND IN MARCH
More than two million vaccinations have been administered, with over five million doses expected by end-March from multiple suppliers, as South Africa intensifies its fight against Foot-and-Mouth Disease (FMD). During the SONA debate, Agriculture Minister John Steenhuisen welcomed President Cyril Ramaphosa’s declaration of FMD as a national disaster, saying it unlocks resources and coordination. The Agricultural Research Council has resumed local vaccine production for the first time in over 20 years, targeting 2 ,000 weekly doses initially. Steenhuisen said strengthened movement controls and expanded veterinary support aim to vaccinate 80% of the national herd by December. (SOURCE: Moneyweb) |
BLU LABEL WINS ENERGY TRADING LICENCE
JSE-listed prepaid specialist Blu Label Unlimited has secured a multi-year energy trading licence from the National Energy Regulator of South Africa, marking its formal entry into power trading. Through subsidiary BluEnergy Trading, the group will buy and sell electricity, leveraging its Cigicell prepaid platform that services over 95 municipalities. The move aligns with national reforms to open the market beyond Eskom. BluEnergy plans to combine long-term power purchase agreements with prepaid revenue systems, positioning itself as an energy off-taker and trader focused on renewable integration, municipal supply security and scalable, sustainable power solutions. (SOURCE: BDLive)
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STEEL PROCESSORS IN TAKE-OVER BID FOR AMSA
ArcelorMittal South Africa (AMSA) has received a takeover approach from a consortium of local steel processors, signalling renewed corporate interest in the embattled producer. The proposal comes amid ongoing challenges in the domestic steel sector, including weak demand, high input costs and infrastructure constraints.While details of the potential offer remain limited, AMSA confirmed it is assessing the approach in line with regulatory requirements. Any transaction would be subject to due diligence and shareholder approval. The development raises prospects of consolidation within South Africa’s steel industry as operators seek scale and stability. (SOURCE: News24)
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JSE-LISTED ASP ISOTOPES TARGETS US NUCLEAR MARKET
JSE-listed ASP Isotopes is expanding into the US nuclear fuel market through its subsidiary Quantum Leap Energy, which will establish global headquarters in Austin, Texas. The group is targeting high-assay low-enriched uranium (Haleu), a specialised fuel needed for next-generation and small modular reactors. Quantum Leap plans a joint venture with Fermi America to develop Haleu enrichment and isotope production facilities in Amarillo, Texas. The expansion follows ASPI’s acquisition of Renergen. The company will continue isotope enrichment operations in Pretoria while pursuing international growth opportunities. (SOURCE: SENS)
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AI DATA CENTRES LEAD FDI AS MINING, INDUSTRY LAG
Technology is attracting more foreign direct investment than mining and heavy industry, according to the United Nations Conference on Trade and Development. Its Global Investment Trends Monitor shows greenfield and project finance growth in data centres and semiconductors, with semiconductor FDI rising 35% in 2025. By contrast, extractive project values fell 36%, while critical minerals investment dropped 63% to $10bn. FDI to developed economies jumped 43% to $728bn, while developing markets saw a 2% decline. The Brookings Institution says Africa must invest in infrastructure to capitalise on rising global demand for critical minerals. (SOURCE: FreightNews)
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Love and the Law: Cohabiting? Get Your House in Order Now |
Valentine’s Day isn’t just a great excuse to indulge in ruinously expensive red roses, cards and heart-shaped chocolates. It’s also a reminder that if you’re in a cohabitation arrangement, there will be financial implications – making it essential to check that your relationship’s legal aspects pass muster.
Particularly when you start acquiring high-value assets jointly, you need a full co-ownership agreement to avoid the uncertainty and dispute that a separating couple subjected themselves to in the High Court recently. They couldn’t agree on how to end their joint ownership of a house and had to ask a court to do it for them – a stressful and costly exercise.
To read more click here.
For more information please contact: Austen Smith Inc T: +27 33 392 0500 E: mail@austensmith.co.za Website: www.austensmith.co.za |
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You can't depend on your eyes when your imagination is out of focus.
Mark Twain |
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These rates are correct at time of going to press. | | Platinum | $ 2 051.00
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