| COURT TO PRESIDE OVER SCANDAL-RIDDEN TONGAAT'S DISMEMBERING |
| PREPARING FUTURE LEADERS FOR A LIFE OF FINANCIAL LITERACY |
(ltr) Keynote speaker Mitesh Haripersadh (Branch Support Advisor FNB) with colleagues Natasha Singh, and Nonkululeko Miya and Branch Manager Rochelle Phillips (obscured) at the recent Money Mindset workshop.
Students at the Emeris Pietermaritzburg campus were introduced to the practicalities of money management at a recent Financial Fluency workshop hosted under the “Adulting 101” series. Supported by FNB, the initiative focused on budgeting, saving, credit management and fraud awareness. Speakers Natasha Singh, Mitesh Rampersadh and Ingrid Magwaza guided students through behavioural finance concepts, including the psychology of money and long-term financial planning. The workshop aimed to close real-world knowledge gaps often left by formal education. The programme forms part of Emeris’ broader strategy to enhance graduate readiness and life skills development.
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| HULAMIN EXITS FOIL PACKAGING AS RESTRUCTURE GATHERS PACE |
Pietermaritzburg-based Hulamin disposed of its aluminium foil packaging business to Wyda Packaging as part of a rigorous restructure - including the sale of its extrusion division - in the face of tough trading challenges. The transaction includes 17 presses and more than 200 moulds to boost Gauteng-based Wyda’s capacity by 340% and 400% respectively in the food service, retail and catering sectors. The move will allow Wyda to convert about 1 000 toness of aluminium annually and consolidate domestic manufacturing capacity and boost resilience amid supply disruptions. (SOURCE: BDLive/Moneyweb)
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1912: The first weather forecast for the Union of South Africa was issued.
Elsewhere, in 2010, 16-year-old Jessica Watson became the youngest person to sail solo, unassisted around the world.
Do something small and meaningful on International Microvolunteering Day. |
TRANSNET CONTAINER SURCHARGE SPARKS SUPPLY-CHAIN ALARM
Transnet Port Terminals has introduced a container handling surcharge of roughly R350–R600 per unit, driven by a sharp diesel price spike linked to Middle East conflict disruptions. Industry operators warn the levy could triple to more than R1 000 per container by May if fuel and bunker costs remain elevated.
Global shipping fuel prices have already risen an estimated 20%–35%, forcing carriers to pass costs through the logistics chain. The surcharge comes on top of port congestion delays of 2–5 days and rising terminal handling charges, further straining exporters and importers. Freight forwarders say the combined impact could lift landed import costs by 3%–7% and erode export competitiveness, particularly for agriculture and manufactured goods, while also adding inflationary pressure across consumer supply chains in South Africa. (SOURCE: News24)
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... AS ENGEN OWNER BACKS R2.2 BILLION DURBAN FUEL HUB PLAN
Petronas, the Malaysian owner of Engen, is planning a R2.2 billion fuel storage and logistics hub in Durban as global energy disruptions and regional supply shocks intensify. The proposed investment aims to strengthen fuel import resilience, expand storage capacity and improve distribution efficiency along South Africa’s busiest fuel corridor. The Durban facility would add strategic buffer stock capability amid rising geopolitical risk and volatile crude prices. Industry sources say the project could significantly reduce supply bottlenecks and enhance energy security for inland provinces reliant on coastal imports. The move comes as fuel shocks driven by Middle East tensions push logistics costs higher across the value chain. (SOURCE: News24)
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... AND ABU DHABI FIRM EYES MULTI-BILLION RAND SHELL DEAL
Abu Dhabi’s state-linked ADNOC is reportedly poised to acquire Shell’s South African fuel retail network, in a deal that could reshape the local downstream oil market. The portfolio includes roughly 600–700 service stations nationwide, alongside associated fuel storage and supply infrastructure. The transaction, still subject to regulatory approvals and final valuation talks, is expected to exceed several billion Rand, reflecting the strategic value of South Africa’s retail fuel footprint. Industry analysts say the move signals growing Gulf interest in African energy assets as global majors reposition downstream holdings. If concluded, the deal would intensify competition in fuel retail and could accelerate branding consolidation in the sector. (SOURCE: News24)
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IMF CUTS GROWTH OUTLOOK TO 1% ON OIL RISKS
The International Monetary Fund (International Monetary Fund) has cut South Africa’s 2026 growth forecast to 1.0%, down from 1.4%, warning that Middle East conflict-driven oil shocks threaten global stability. Sub-Saharan Africa’s outlook was also trimmed to 4.3% from 4.6%. The IMF says Brent oil could average around $80/barrel in its reference scenario, but warns prices may rise further if Strait of Hormuz disruptions persist. South Africa, heavily reliant on fuel imports, faces renewed diesel-led price hikes despite a temporary R3/l fuel levy cut. Global inflation is now projected at up to 6% in adverse scenarios, while growth could fall to 2%, with oil-importing emerging markets expected to be hardest hit. (SOURCE: Engineering News)
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RISING LIVING COSTS SET STAGE FOR TOUGH WAGE TALKS
South Africa heads into fraught wage talks as cost pressures outpace modest income gains. Inflation is hovering around 3.5%, but fuel shocks - with potential hikes of up to R4/litre for petrol and R7 for diesel - threaten to push prices higher and squeeze households. Congress of South African Trade Unions (Cosatu) warns real wages risk erosion despite a 5% minimum wage increase to R30.23/hour. Average salary hikes of about 5.2% may not offset rising costs, while some public servants face sub-5% increases. With medical aid contributions up 23% over two years, unions are bracing for tougher negotiations, widening gaps with employers and increasing strike risks. (SOURCE: BDLive)
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FRUIT EXPORTS FACE BARRAGE OF MIDEAST TURMOIL HITS
South African fruit exporters are under pressure as Middle East conflict drives sharp cost increases and delays. Bunker fuel surcharges have lifted freight rates by as much as 30%–50% on key routes, while longer rerouting around conflict zones can add 7–14 days to transit times. Exporters such as Westfalia Fruit face rising insurance premiums and currency volatility, further squeezing margins. The Middle East accounts for roughly 10%–15% of South Africa’s fruit exports, making disruptions significant despite resilient demand. With input costs already elevated, the combined impact threatens profitability and could erode competitiveness in a strategically important, fast-growing market. (SOURCE: BDLive) |
CANADIAN MINING PLAN OFFERS R15.8 BIILION TAX BONANZA
A Canada-style incentive could revive South Africa’s struggling exploration sector and unlock billions of Rands in revenue. The proposed flow-through share model allows investors to deduct 100% of exploration spend against taxable income, sharply improving project economics. Research indicates each successful mine could generate about R15.8 billion in tax revenue over its life, while even a handful of new discoveries could add tens of billions of Rand to the fiscus. Exploration spending in South Africa has fallen to below 1% of global budgets, versus Canada’s roughly 20%, underscoring the gap. Proponents say the policy could attract billions in foreign capital, stimulate drilling and create thousands of jobs. (SOURCE: BDLive) |
... AS AFRICA PILOTS BOND TO FORMALISE ARTISANAL MINING
Africa is set to pilot a new “stakeholder prosperity bond” to formalise artisanal mining and integrate informal workers into regulated supply chains. Developed by Veridicor and Metalex Commodities, the initiative aims to raise $100m–$200m in its first issuance. The model links investor returns to social and environmental outcomes rather than output. In Zambia, where tens of thousands mine informally, companies could source up to 30% of ore from licensed artisanal operators. The approach seeks to curb pollution, boost revenues and improve livelihoods while aligning mining profits with community development goals. (SOURCE: Bizcommunity)
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POLICY CHANGE OFFERS 180 000 ZIM PERMIT HOLDERS RESIDENCE
South Africa’s Department of Home Affairs has announced that Zimbabwean Exemption Permit (ZEP) holders may now apply for permanent residence, marking a major shift in policy affecting an estimated 180 000 migrants. Deputy Minister Njabulo Nzuza said applications will be assessed on a case-by-case basis, reversing earlier restrictions that barred direct conversion to residency. The ZEP system, introduced in 2009 after Zimbabwe’s economic collapse, has been repeatedly extended, with permits now valid until May 2027. Legal challenges by the ZEP Holders Association continue in the High Court. The move is expected to ease long-standing uncertainty for families and workers integrated into South Africa’s economy, while also intensifying political debate over immigration policy and labour market pressures. (SOURCE: Moneyweb)
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VETERAN NEGOTIATOR ROELF MEYER APPOINTED US ENVOY
President Cyril Ramaphosa has appointed veteran negotiator Roelf Meyer as South Africa’s next ambassador to the US, signalling a strategic effort to stabilise strained bilateral ties. Presidency spokesperson Vincent Magwenya confirmed the selection, highlighting Meyer’s deep experience in diplomacy and constitutional negotiations. The move follows months of friction between Pretoria and Washington, with officials seeking a reset in relations. Meyer, a key figure in South Africa’s democratic transition, is expected to leverage his political credibility to rebuild trust, strengthen economic cooperation, and navigate complex geopolitical dynamics shaping US-SA engagement. (SOURCE: BDLive)
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TRUMP SUFFERS R164 BILLION EPSTEIN-DEFAMATION BLOW
A US federal judge has dismissed Donald Trump’s $10 billion (about R164 billion) defamation lawsuit against The Wall Street Journal and Rupert Murdoch over reporting on his ties to Jeffrey Epstein. Judge Darrin Gayles ruled Trump failed to show malicious intent but allowed him to amend and refile the complaint by April 27. The case stems from a disputed 2003 letter linked to Epstein. Trump denies authorship, calling the report false. The ruling marks a setback in efforts to challenge critical media coverage. (SOURCE: Bloomberg)
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META BUILDS BOT TO CLONE ZUCKERBERG THE BOSS
Meta is reportedly creating an AI version of Mark Zuckerberg so staff can “chat” to the boss without booking a meeting - or eye contact. The digital clone, trained on his voice, tone and strategy musings, aims to boost connection across its 79 000-strong workforce. It’s the latest twist in Meta’s AI push, following avatars and virtual experiments. Critics may wonder if the bot will blink more naturally than the original, but Meta sees scalable leadership. Next step? An AI that replies “circle back” instantly - and maybe even approves leave. (SOURCE: The Guardian)
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Buying a House: What Costs Will You Pay, and When? |
It’s a really exciting time, buying a house, particularly if it’s your first! Don’t forget, however, that you will have to pay a variety of costs over and above the purchase price. What are those costs and when must you pay them? Do they impact your ability to afford the house you have your eye on?
We’ll address those questions with a checklist of costs you should budget for. It’s a good idea to work these into a cash flow forecast so you aren’t ambushed by any unpleasant financial surprises during the transfer process.
Click here to read more.
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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If you choose not to decide, you still have made a choice.
Neil Peart |
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