| COMRADES SETS GLOBAL VIEWING BENCHMARK ON YOUTUBE |
The 99th Comrades Marathon was not only a record-breaking race on the road but also a milestone in sports broadcasting. For the first time in its history, the ultramarathon was streamed live globally on YouTube, alongside domestic coverage on SABC Sport. The 13-hour broadcast delivered uninterrupted coverage, enhanced by live tracking, detailed graphics and multiple camera feeds, allowing viewers worldwide to follow the action in real time. The event demonstrated how streaming platforms can rival traditional television, expanding the race’s global reach while creating new opportunities for sponsors, tourism promotion and audience engagement
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| CHILDREN'S HOME LEADS CITY CHARITY OCEAN SWIM TRIUMPH |
Representatives of some of the charities benefitting from the 2026 Oceans 8 Charity Swim 2026 with illustrative cheques to reflect the R45 746 amounts received.
Three Pietermaritzburg-based NGOs benefitted from the the recent Oceans 8 Charity Swim 2026 held at Vetch’s Beach at the Durban Undersea Club. The Pietermaritzburg Children’s Home, Duzi Umngeni Conservation Trust (DUCT), and Singakwenza were among 14 beneficiary charities with staff and supporters contributing to the event's running, including swimmer numbering, timing co-ordination, and the distribution of timing chips. Representatives from all participating charities received equal donation cheques of R45 746, reflecting the unity and shared purpose of the annual fund-raising outing. The event was a special highlight for the PCH that is celebrating its 140th anniversary this year. |
| FREE ESTATE PLANNING SESSION TAILORED FOR BUSINESS OWNERS |
Business owners are invited to a free estate planning seminar hosted by the Pietermaritzburg and Midlands Chamber of Business in partnership with Sanlam on Tuesday, 23 June. Presented by Candice Marais, the session will explore business continuity in the event of death or incapacity, protecting family and business interests, avoiding succession pitfalls, and strategies for preserving and transferring wealth. Registration and refreshments at 9am, with proceedings starting at 9.30am. To register, click here.
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| REMINDER: SANRAL CONTRACTOR PROGRAMME BRIEFING ON 23 JUNE |
Eligible civil engineering contractors are reminded of SANRAL’s compulsory virtual briefing for its Contractor Development Programme targeting CIDB Grade 5 to 9 firms on Tuesday, 23 June. The programme aims to strengthen capacity, equity participation and delivery performance among black-owned contractors nationwide, offering mentorship, training and financial support over a five-year cycle linked to SANRAL projects. Applicants must be CIDB-registered, black-owned and meet National Treasury requirements, with limits on active contracts. See here for more information.
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1904: The first Chinese labourers arrived to work on gold mines and alleviate a labour shortage.
1953: Elsewhere, husband and wife Julius and Ethel Rosenberg became the first US civilians to be executed for espionage.
Get packing on International Box Day. |
SARS ISSUES 'EARLY WARNING' NOTICE TO AVOID 2026 SEASON AUDITS
The South African Revenue Service (SARS) has introduced a new “early-warning” system as the 2026 tax season gets under way, aiming to help taxpayers identify and correct potential errors before submitting returns. The initiative is designed to improve compliance, reduce mistakes and limit the number of audits triggered by inaccurate information.
SARS will use advanced data-matching technology and third-party information from employers, banks, medical schemes and investment providers to flag discrepancies early. Taxpayers will receive notifications where information appears incomplete or inconsistent, allowing corrections before assessments are finalised. The revenue authority says the system should speed up processing times, improve accuracy and reduce administrative burdens for both taxpayers and SARS, while strengthening confidence in the tax system. (SOURCE: News24)
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... AS SNIFFER DOG SHORTAGE COSTS TAXMAN R415 MILLION
South Africa’s detector dogs are helping the South African Revenue Service (SARS) save taxpayers an estimated R1.7 billion a year by uncovering smuggled goods and illicit trade, but a shortage of trained animals is costing the fiscus heavily. Finance Minister Enoch Godongwana says SARS has 66 dog handlers, yet nine are without dogs and a further 14 animals are needed to meet operational requirements. Each trained dog contributes about R29.7 million annually through the detection of drugs, tobacco, undeclared cash, firearms and wildlife products. The shortage is estimated to be costing SARS about R415 million in lost customs revenue every year. A procurement process for additional dogs begins next month, although more than 60% of animals assessed fail to meet the strict behavioural standards required for customs work. (SOURCE: Bloomberg/News24)
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AGRIBUSINESS CONFIDENCE FALLS TO TWO-YEAR LOW
South Africa’s Agribusiness Confidence Index fell to 45 in Q2 2026, its lowest level since 2024, after a further four-point decline. Sentiment weakened amid concerns over Middle East-driven energy and fertiliser costs, lingering foot-and-mouth disease outbreaks, weaker global grain prices and delayed tariff support. Capital investment sentiment plunged to its lowest level since 2006, while export confidence also dropped on logistics and shipping pressures. However, turnover, income and employment subindices improved on strong harvests and exports. Despite pockets of resilience, the overall reading signals continued pessimism across the sector heading into the next production cycle. (SOURCE: Engineering News)
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Q2 BUILDING PLAN APPROVALS CLIMB TO R30.99 BILLION
The value of building plans approved in South Africa rose 5.7% year-on-year to R30.99 billion during the first four months of 2026, signalling resilience in the construction sector despite economic headwinds. According to Stats SA, six of the country’s nine provinces recorded growth, with KwaZulu-Natal, the Western Cape and Limpopo leading the gains. The increase reflects ongoing investment in residential, commercial and infrastructure developments. Industry participants view the figures as a positive indicator for future construction activity, employment creation and broader economic growth, although challenges such as rising costs and uncertain market conditions remain. (SOURCE: BDLive) |
COURT BACKS MEDICAL SCHEMES IN CLAIM RECOVERY DISPUTES
The Gauteng High Court has upheld the legality of Section 59(3) of the Medical Schemes Act, confirming that medical schemes may recover payments from healthcare providers when claims are disputed or found to have been incorrectly paid. The ruling dismisses a challenge by physiotherapists seeking to have the provision declared unconstitutional, arguing it infringed rights to administrative justice and access to courts. Judge Sulet Potterill found that the section does not violate constitutional protections and provides a lawful mechanism for schemes to reclaim funds. The judgment comes in the wake of the Section 59 Inquiry, which found evidence of discriminatory practices against black healthcare providers and recommended reforms to improve oversight and fairness. (SOURCE: BDLive)
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... AS REGULATOR WARNS AGAINST CUTTING MEMBER PREMIUMS
South Africa’s medical scheme regulator has warned that proposed contribution reductions by the Government Employees Medical Scheme (Gems) could undermine members’ long-term financial security. The Council for Medical Schemes says lower premiums may weaken the scheme’s reserves and threaten future sustainability, particularly as healthcare costs continue to rise. Gems, the country’s largest medical scheme for public servants, is facing pressure from unions seeking relief from rising living costs. The regulator maintains that short-term affordability measures should not compromise solvency levels or the scheme’s ability to meet future healthcare obligations for its members. (SOURCE: BDLive) |
PLEASE PHONE ME FUNDER TURNS ON INVENTOR
The long-running Please Call Me saga has taken another turn, with litigation funder Errol Elsdon preparing a defamation lawsuit against Nkosana Makate. Elsdon, who claims entitlement to 40% of Makate’s estimated R750 million Vodacom settlement under a 2011 funding agreement, says he will not be labelled a criminal for honouring a contract. Makate alleges key documents were forged and maintains the agreement is fraudulent. The dispute is already before the courts, with both sides pursuing legal action. At stake is a substantial portion of the landmark settlement that ended Makate’s lengthy battle with Vodacom. (SOURCE: Moneyweb)
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DTIC PUSHES MOZAMBIQUE CORRIDOR TRADE LINK
The Department of Trade, Industry and Competition has prioritised the Nkomazi Special Economic Zone–Port of Maputo link as a key cross-border logistics corridor under its economic cooperation agreement with Mozambique. The initiative aims to strengthen rail, road and port infrastructure to improve trade flows and investment between the two countries. Supported by broader agreements with Lesotho and Algeria, the framework focuses on value chain development, trade facilitation and infrastructure partnerships. Joint committees will oversee implementation, with additional plans to expand automotive, textiles and agriculture trade corridors while reducing reliance on European logistics hubs and boosting regional connectivity. (SOURCE: FreightNews)
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PLATINUM JEWELLERY DEMAND HITS 6-YEAR HIGH
Global platinum jewellery demand reached its highest level since 2019 in 2025, showing strong resilience despite metal price volatility and tariff pressures, according to the Platinum Guild International (PGI). South Africa remains the dominant producer, supplying around 70% to 80% of global platinum output.
China led growth with a 56% surge in fabrication to 589 000 ounces, driven by higher gold prices shifting demand toward platinum. Japan saw steady gains, while India’s output rose 4% despite trade headwinds. North America increased demand by 6%, supported by a shift from white gold and rising use of lab-grown diamonds in bridal jewellery. PGI expects continued momentum into 2026 as platinum gains share globally. (SOURCE: Engineering News)
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MOBILE TECH ADDS R4 TRILLION TO AFRICAN ECONOMY
Mobile technologies contributed $240 billion (about R4 trillion) to Africa’s economy in 2025, equal to 7.8% of GDP, supporting 13 million jobs and generating $45 billion in public revenues, according to GSMA. The sector is forecast to grow to $290 billion by 2030 as operators shift toward digital services, AI and enterprise solutions. Despite near-universal coverage, adoption remains constrained, with affordability and digital skills cited as key barriers. Only 9% of Africans remain outside mobile broadband coverage, but 63% of those covered still do not use mobile internet. Operators plan $76 billion in infrastructure investment to expand access and digital inclusion. (SOURCE: Engineering New
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GLOBAL OIL SUPPLY HEADING FOR 2027 SURPLUS
The International Energy Agency expects the global oil market to swing into a significant surplus in 2027 as Middle East supply recovers following the reopening of the Strait of Hormuz. Oil output, disrupted by the Iran conflict, is forecast to rebound sharply, with supply rising faster than demand growth. The IEA projects a surplus of about 5 million barrels per day in 2027, after a deficit in 2026. Demand destruction from high prices is expected to ease as conditions stabilise, while inventories may remain tight in the short term before rebuilding as production normalises globally. (SOURCE: Reuters)
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... AS HORMUZ OIL FLOWS FACE PERMANENT RESET
Oil shipments through the Strait of Hormuz may recover to only about 70% of pre-war levels as Gulf producers increasingly rely on alternative export routes, according to Goldman Sachs. Before the conflict, about 20 million barrels a day passed through the strategic waterway. Analysts expect flows to recover substantially by the end of July and regional production by October following the US-Iran ceasefire. During the war, producers including Saudi Arabia, the UAE and Iraq expanded pipeline exports that bypass Hormuz. Brent crude has fallen below $78 a barrel from a peak above $126 in April, as markets anticipate a gradual normalisation of global oil supplies. (SOURCE: Bloomberg)
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R363 BILLION TARIFF REFUNDS CLOUD US TRADE POLICY
Tariff revenue in the US is now flowing out faster than it is coming in, with nearly $22 billion (about R363 billion) in unlawfully collected duties refunded to importers in May. Despite these repayments, businesses continue to pay tariffs on imports from most countries after the Supreme Court struck down parts of President Donald Trump’s “emergency” tariff regime earlier this year. A temporary 10% global tariff is set to expire at the end of July, though White House officials plan to replace it with more durable duties linked to forced labour and trade investigations. Economists estimate new measures could lift the average US tariff rate to about 11%, still below previous peaks but potentially rising further as additional probes conclude. (SOURCE: Bloomberg)
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There's nothing particularly wrong with being more pessimistic than optimistic. Optimism is broad-based, non-detail-oriented thinking; pessimism is detail-oriented thinking.
David Rakoff |
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| Dollar | R16.52 | - 0.69% | | Pound | R21.79
| - 0.64% | | Euro | R18.89
| - 0.45% | | Yen | 0.102284 |
| | Yuan | R2.44
| - 0.70% | | Bitcoin | 62 724.77
| - 0.26% |
These rates are correct at time of going to press. | | Platinum | $ 1 676.60
| - 1.09% | | Gold | $ 4 144.24
| - 1.56% | | Oil | $ 80.13
| + 0.43% | | All Share | 114 998.45
| - 0.89% | | Repo | 7.00 | | | Prime | 10.50 | |
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