| INTERNET OUTAGE SPARKS FOMO AND SPOILS DEVIL ADVOCATE FUN |
I don’t suffer from FOMO much, but I did yesterday when Cloudflare, which apparently routes about 20% of global web traffic, went down. For around three hours, I was digitally marooned, not because I’m an AI junkie or internet junkie, but because access to cyber space underpins my work. But there’s another, more selfish reason - depriving me of the fun to poke fun at ChatGPT and its beefier rival, Perplexity.
Full disclosure, I have a messy history with AI after being hoodwinked into beta-testing a ghostwriting company’s algorithm, for free! Once the deceit dawned, I reversed out of that lot faster than you can say “scam” and have taken churlish pleasure since playing Devil’s Advocate, poking and prodding AI until it buckles which, frankly, doesn’t take much. Alas, the internet of things is back to normal and I’m able to once again play with my toys. Thanks Cloudfare. Derek Alberts - Editor
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| A RINGING ENDORSEMENT OF SERVICE AND CONNECTIVITY |
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Staff at the CellC outlet at Liberty Midlands Mall vows a superior customer experience.
Meet a new member of the Pietermaritzburg and Midlands Chamber of Business, the CellC outlet at Liberty Midlands Mall. A leader in the cellular communications sector, CellC provides a wide range of products including airtime, data, cellphones, and fibre solutions. Customers can also access emergency airtime, data top-ups, and device insurance, supported by a team of experienced consultants committed to quality and value.
With nearly two decades of market experience and a new Memorandum of Understanding (MOU) with major network operators, CellC ensures superior coverage, reliability, and connection speed. “Our new-look store at Liberty Midlands Mall offers a welcoming customer experience in a space where innovation meets service excellence,” says Store Manager Rivashni Pillay.
Contact CellC on 084 433 3789 or at pietermaritzburg@cellc.co.za. View the website here.
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| CALL TO HELP SHAPE KZN TRADE AND INVESTMENT STRATEGY |
The KZN Department of Economic Development, Tourism and Environmental Affairs (EDTEA), in partnership with Urban-Econ Development Economists, is calling on stakeholders to participate in the province’s Integrated Trade and Investment Strategy (ITIS) study. The initiative aims to boost KZN’s economic competitiveness, attract quality investment, and expand trade opportunities to drive inclusive, sustainable growth.
As part of the process, EDTEA is inviting stakeholders to complete a brief survey to provide insights that will inform the strategy. Additionally, a Stakeholder Workshop is scheduled for 27 November at 10 am, with a hybrid format allowing both in-person and virtual attendance via Microsoft Teams. The workshop will present the proposed Strategy and provide a platform for collaborative discussion, feedback, and recommendations. To RSVP, contact stephen@urban-econ.com
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1926: The Balfour Declaration was accepted at the Imperial Conference that granted autonomous status to British Empire dominions, including South Africa.
Elsewhere, in 1990, pop duo Milli Vanilli became the first performers to be stripped of a Grammy Award for lip syncing on the album Girl You Know It's True.
Time to man up, on International Men’s Day.
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PAYDAY-LOAN SURGE SETS OFF AFFORDABILITY ALARM BELLS
South Africans are turning to payday loans in unprecedented numbers, with new data showing a 28% surge in applications in the last quarter alone. The total value of short-term credit issued jumped to R9.6 billion, up from R7.4 billion a year ago.
Average loan sizes have increased to R4 200, compared to R3100 in 2023, as households struggle with food inflation above 8% and interest rates at a 15-year high. Lenders report that nearly 40% of clients now take out multiple loans annually, raising concerns about debt spirals. Analysts warn that rollovers and penalty fees are rising sharply, underscoring the mounting financial distress ahead of the festive spending season and looming rate decisions. (SOURCE: BDLive)
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RECORD-LOW BOND YIELDS PORTENT CHEAPER STATE DEBT
South Africa’s benchmark bond yields hit record lows after S&P upgraded the nation’s credit rating to BB, its first lift in nearly 20 years. Yields on 2035 bonds fell five basis points to 8.60%, the lowest since their 2015 debut. Declining bond yields tend to cut government borrowing costs, signal improved confidence, attract foreign investment, strengthen the Rand, lower economy-wide interest rates and make equities more appealing. Analysts say optimism from the budget update and expectations of a 25 bp repo cut to 6.75% is fuelling demand. Inflation is seen rising to 3.7%, but a downside surprise could drive yields even lower. With R90 billion reinvestment flows and reduced bond issuance ahead, strategists expect the rally to continue into year-end. (SOURCE Bloomberg)
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MISSING R6.5 BILLION CASTS PALL OVER PIC INVESTMENT STRATEGY
Billions have been erased from the Government Employees Pension Fund as weak and failed PIC investments continue to drag down performance. Recent disclosures show around R6.5 billion lost in impaired and unrecoverable loans, largely tied to unlisted and poorly governed deals. Earlier market shocks linked to political instability have previously seen the fund’s value plunge by over R90 billion in short periods, underscoring its vulnerability. Despite the GEPF still holding assets above R2.3 trillion, unions and analysts warn that persistent write-downs, weak oversight, and slow consequence management threaten long-term sustainability, calling for stricter governance and a complete overhaul of investment controls. (SOURCE: News24)
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…AS 9.8% GEMS HIKE INFURIATES MEMBERS
GEMS, the government medical scheme, is under harsh criticism after announcing a 9.8% increase in member contributions for 2026. Critics argue this sharp rise comes amid rising financial pressure on public servants, many of whom already struggle with monthly budgets. The scheme says the increase reflects soaring healthcare and claims costs, but member unions insist GEMS must tighten its cost controls instead of passing more burden onto workers. The spike could force some members to switch to cheaper alternatives, sparking concern over retention and long-term sustainability within the vital health coverage system. (SOURCE: BDLive)
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RAF LEGAL COSTS FOR SUSPENDED STAFF SOAR TO R119 MILLION
The Road Accident Fund’s legal bill for suspended employees has ballooned to R119 million, raising serious concerns over governance and accountability at the troubled state insurer. The costs stem from prolonged disciplinary disputes, repeated court battles, and drawn-out suspensions that, in some cases, have lasted years. Critics argue that the RAF’s internal processes are inefficient and financially reckless, diverting money meant for accident victims into avoidable litigation. The soaring expenditure adds to the RAF’s broader financial distress, with mounting liabilities and operational backlogs prompting renewed calls for urgent reforms, tighter oversight, and a reset of leadership stability. (SOURCE: News24)
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INVESTEC ZERO-FEE PARTNERSHIP TO PEP UP BANKING COMPETITION
Pepkor, Africa’s largest clothing and mobile retailer, is exploring a partnership with Investec to launch zero-fee bank branches across its 6 000-store network in South Africa. The potential venture, likely to be called “Pep Bank,” would allow Pepkor to quickly reach millions of lower-income customers and leverage its extensive consumer data to tailor financial products. Profits would be shared between Pepkor and Investec, though no formal agreement has yet been signed. The move follows growth in Pepkor’s fintech unit, which saw revenue rise 35% to R7.9 billion, reflecting broader trends of retailers entering financial services for underbanked populations. (SOURCE: Moneyweb)
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TIGER BRANDS SELLS RANDONTEIN MAIZE AND WHEAT MILL
Tiger Brands has received Competition Commission approval for the sale of its Randfontein maize-milling operation, including its wheat mill. The company says intensified competition from regional millers means the maize business is no longer “core” to its future. The disposal forms part of a broader portfolio optimisation strategy, which has already generated R4.4 billion in proceeds from non-core asset sales. Tiger Brands did not disclose the sale price of the milling operations. (SOURCE: BDLive)
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… AS COMPCOM THOWS SPANNER IN R7.2 BILLION CURRO TAKE-OVER
Jannie Mouton’s R7.2 billion bid to take Curro private has hit a serious obstacle, with the Competition Commission signalling strong concerns that could ultimately sink the deal. Regulators argue the proposed transaction may reduce competition in the private education sector, particularly in fast-growing regional markets where Curro already holds a significant share. The Commission is reportedly pushing back hard on the structure of the buyout, warning that approval is not guaranteed. The setback threatens to delay or derail Mouton’s plan to consolidate control, raising uncertainty for shareholders and placing the future of the high-profile deal in jeopardy. (SOURCE: BDLive)
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ASCENDIS TO DE‑LIST WITH R588 MILLION LOCKED-IN VALUE
Ascendis Health will delist from the JSE with a market capitalisation of about R588 million, enabling more agility to pursue acquisitions. Shareholders overwhelmingly (93%) approved the move and accepted a cash repurchase offer of R0.97 per share, following an independent review. The company says delisting will free it from regulatory burden and reporting costs, allowing it to invest in growth more efficiently. Its tangible net asset value stood at R571 million at the end of June 2024, with an enterprise value estimated at R692 million. (SOURCE: BDLive)
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ACKERMAN STAKE SLASHED AFTER R1.6 BILLION SHARE SALE
The Ackerman family has sold 64 million Pick n Pay shares, cutting its voting interest sharply from 49% to 36.8%, and raising R1.6 billion via an accelerated book-build. The shares were sold at R25.50 each, a 6.4% discount to the prior closing price. Post-sale, the family retains 135.4 million ordinary shares, continuing as an anchor shareholder, but relinquishes its right to nominate the chairman, CEO, and CFO. This comes after Pick n Pay reported a R1.67 billion loss in FY24 and launched a two-step recapitalisation plan, including a R4 billion rights offer and a Boxer listing. (SOURCE: BDLive)
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GLOBAL FUND DELIVERS FIRST ANTI-HIV SHOTS TO ESWATINI
PEPFAR, the US-sponsored emergency plan for AIDS relief, has shipped the first doses of lenacapavir, a long-acting anti-HIV treatment, to Eswatini, marking a major milestone in the fight against HIV/AIDS in Southern Africa. The Global Fund has provided $29.2 million (about R500 million) to support the rollout of lenacapavir in South Africa, aiming to expand access to this innovative therapy. Health officials say the treatment’s long-acting formulation can improve adherence and reduce viral transmission, particularly among hard-to-reach populations. Governments and partners are working to integrate lenacapavir into existing HIV programmes, strengthen supply chains, and ensure training for healthcare workers, signalling a significant step forward in regional HIV prevention and care efforts. (SOURCE: BDLive)
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‘UGLY’ SIGNALS SPARK 10% WALL STREET CORRECTION FEARS
Alarm bells are ringing as the S&P 500 closed below its 50-day moving average for the first time in 139 sessions, breaking the second-longest streak this century. Analysts warn that “ugly” technical signals, including declining breadth and more Nasdaq stocks hitting 52-week lows than highs, point to a potential 5–10% correction by December. High-flying tech stocks, particularly the Magnificent Seven, are leading the pullback, with Meta down 24% from its August peak. Commodity trading advisers may accelerate selling if key levels are breached. Investors are advised to position defensively amid continued market turbulence. (SOURCE: Bloomberg)
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Aging is not lost youth but a new stage of opportunity and strength.
Betty Friedan |
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| Dollar | R17.14 | + 0.22% | | Pound | R22.55 | + 0.18% | | Euro | R19.87 | + 0.13% | | Yen | 0.110378 |
| | Yuan | R2.41 | +0.36% | | Bitcoin | $ 90 963.60
| - 1.36% |
These rates are correct at time of going to press. | | Platinum | $ 1 546.80
| + 0.25% | | Gold | $ 4 094.97
| + 0.67% | | Oil | $ 64.64
| - 0.22% | | All Share | 110 392.47
| - 1.71% | | Repo | 7.00 | | | Prime | 10.50 | |
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