| GLOBAL TRADE IN SHOCK MODE AFTER US TARIFF RULING |
| NGO SECTOR TACKLES FUNDING CHALLENGES WITH GUSTO |
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The first NGO Forum of the year got off to an enthusiastic start as representatives of the region's NPO sector brainstormed funding suggestions. Pic by Lethiwe Zondi.
The Pietermaritzburg and Midlands Chamber of Business hosted an impressive turnout of local NGOs for a dynamic forum on alternative fundraising and sustainable income strategies. Attendees engaged in lively brainstorming sessions, sharing ideas to navigate ongoing funding instability, foreign funding freezes, and DSD payment delays. Discussions went beyond grants, exploring cost-saving measures, revenue-generating initiatives, partnerships, and networking opportunities. Participants were encouraged to bring their top three creative solutions, fostering collaboration and collective problem-solving. The session emphasized learning from one another, sharing best practices and financial resilience, ensuring that the city’s most vulnerable communities continue to receive vital support. The next NGO Forum in on 17 April. Click here for the full programme of forum and network meetings. |
| HOW THE 'BIG PICTURE' BRINGS CLARITY TO PROJECTS |
Join us for an engaging, hands-on Lean session at the Pietermaritzburg and Midlands Chamber of Business tomorrow, exploring SIPOC – the tool that maps Suppliers, Inputs, Process, Outputs, and Customers to give teams a clear “big-picture” view. Learn how SIPOC aligns cross-functional teams, defines process start-to-end points, clarifies roles and responsibilities, and identifies gaps before they become costly problems. Discover which metrics matter, who needs what from whom, and how to set up projects for success from day one. Ideal for Lean beginners or experienced practitioners, this session will help you speed up improvement initiatives, reduce confusion, and ensure every stakeholder understands the process at a glance. Proceedings start at 3 pm. No charge for PMCB members, R60 (incl. vat) non-members. Contact Thabisile on (033) 345 2747 or at info@pmcb.org.za
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1854: The Bloemfontein Convention was signed to establish the Republic of the Orange Free State.
Elsewhere, in 1954, the world’s first mass inoculation was conducted against polio.
It’s also International Spay Day, a day of importance to all animal welfare organisations.
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REVENUE WINDFALL SETS SCENE FOR ROSIER BUDGET
Finance Minister Enoch Godongwana is poised to table a more upbeat 2026 Budget as revenue overruns and firm commodity prices strengthen the fiscus. Tax collections rose 10.4% in the first nine months of the fiscal year, while expenditure growth was contained below 6%, outperforming the 8.3% projection in the MTBPS.
Record gold and platinum group metal prices, a firmer Rand and easing inflation have helped push bond yields to their lowest since 2019. Treasury expects gross debt to stabilise at 77.9% of GDP in 2025/26, targeting 70% over the medium term. Structural reforms under Operation Vulindlela and lower debt-service costs support the outlook, though economists warn debt could still drift toward 80% by 2027/28. (SOURCE: BDLive)
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BLEEDING SKILLS LEAVE WATER BOARDS WITH ENGINEERING CRISIS
Engineers make up just 21% of non-executive directors across South Africa’s seven major water boards, with only 16 of 78 holding engineering qualifications. Even including executives, boards average only three engineers out of 12 members. Key entities such as Rand Water, Umgeni Water and Overberg Water oversee bulk supply, dam management and sanitation systems. Auditor-general findings show 99% of wastewater plants fail at least one quality standard, while infrastructure projects are delayed by an average 32 months. An estimated R400bn is needed to fix maintenance backlogs, with 105 municipalities rated critical or poor. President Cyril Ramaphosa has formed a national water crisis committee as shortages intensify nationwide. (SOURCE: BDLive)
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IDC ON SIDELINES AS TONGAAT LIQUIDATION HEADS FOR COURT
The Industrial Development Corporation (IDC) says it cannot commit to further funding for embattled sugar group Tongaat Hulett as it faces provisional liquidation. Business rescue practitioners have applied to the KZN High Court to end rescue proceedings after key Vision Group sale agreements lapsed. The Department of Trade, Industry and Competition will oppose liquidation, warning of severe fallout across KZN and Mpumalanga. Tongaat, which entered business rescue in October 2022, previously received significant post-commencement funding from the IDC. Historic accounting irregularities destroyed about R12 billion in shareholder value. Government argues liquidation should be a last resort to protect jobs, growers and rural economies. (SOURCE: Moneyweb)
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... AS BANKS RAISE R5.2 BILLION TO MEET DEBT OBLIGATIONS
South Africa’s largest lenders raised $322 million (about R5.2 billion) in loss-absorbing debt to meet central bank FLAC requirements, ensuring failing banks can be recapitalised without taxpayer bailouts. Absa sold R3.2 billion of notes, 2.65 times oversubscribed, while Standard Bank issued R2 billion across four tranches with over R10 billion in bids. The instruments link to the new Zaronia reference rate, replacing the Johannesburg interbank average. FLAC debt forms part of a post-2008-style resolution framework, shifting losses to investors. The Reserve Bank estimates six major lenders must raise R360 billion by 2030, with at least 60% required by 2027, supporting financial system stability. (SOURCE: Bloomberg)
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... AND FEDGROUP SECURES R1 BILLION FOR NORTH COAST ESTATES
Fedgroup has concluded a senior debt refinancing facility exceeding R1 billion to fund continued expansion of Seaton and Lalela Estates on KZN North Coast. By consolidating existing borrowings into a single facility, Fedgroup becomes sole funder of the next development phase, enabling Collins Residential to complete roads, utilities, lifestyle amenities and the Seaton House school across the 430ha mixed-use precinct. The deal strengthens Fedgroup’s alternative asset financing footprint in property and agriculture. ENSafrica advised on the transaction, finalised within four months amid a complex funding environment. (SOURCE: Engineering News)
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DAIRY EXPORTS AT RISK OVER FMD CHAOS
South Africa’s dairy industry warns inconsistent foot-and-mouth disease (FMD) measures are jeopardising exports. Clover SA says current eradication practices exceed international standards, causing regulatory deadlocks and export delays. Vaccinated milk is wrongly treated as infected, while UHT products face unnecessary restrictions. Producers incur extra costs from facility separation, transport inefficiencies, and product losses. Industry calls for clear national minimum standards aligned with WOAH guidelines, proper milk classification, and standardised export certification. Government is set to begin nationwide FMD vaccination with one million doses, part of a 10-year plan to reopen global markets, protect jobs, and ensure national food security. (SOURCE: Freight |
TRANSNET HUNTS PRIVATE PARTNER FOR RICHARDS BAY DRY BULK PORT
Transnet has launched a process to find a private partner for the Richards Bay Dry Bulk Terminal, aiming to expand capacity from 16.7-million to 26.9-million tons annually. A request for qualification closes August 31, with a briefing scheduled for 19 March. Transnet plans a private-sector participation model to fund modernisation, including new berths, stockyard upgrades, conveyor systems, and advanced mechanisation. Chrome and magnetite are targeted growth commodities. Transnet Port Terminals will retain 51% ownership of a special purpose vehicle overseeing operations. The move forms part of Transnet’s Reinvent for Growth Strategy, leveraging private capital to boost efficiency, capacity, and strategic oversight. (SOURCE: Engineering News)
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SPAR CEO CALLS IT QUITS AS FALL-OUT PERSISTS
The Spar Group CEO Angelo Swartz will step down at month-end after less than three years in the role, triggering a 7.3% share price slide. Swartz, appointed in October 2023, steered Spar through governance turmoil and costly European exits, including a R4 billion n withdrawal from Poland and a R683 million payment to leave Switzerland. Former Woolworths finance director Reeza Isaacs, currently CFO, takes over as CEO. Spar’s KZN SAP rollout fiasco previously cost R1.6 billion in turnover and R720 milllion in profit. Southern African like-for-like sales rose 2.4% in the year to September 2025, but competition intensifies. (SOURCE: Moneyweb)
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SIBANYE EARNINGS SURGE 285% ON PGM BONANZA
Sibanye-Stillwater reported a 285% surge in headline earnings per share for 2025, while Ebitda jumped 189% to nearly R38bn. The JSE-listed gold and PGM producer declared a final dividend of R3.7bn, equal to 35% of normalised earnings and up 146% in 2023. Taxes and royalties rose to R4.3 billion. Liquidity headroom stands at R40bn. South African PGM output reached 1.8-million 4E ounces, with Ebitda up 125% to R16.7bn. Gold operations generated (SOURCE: SENS) |
6% ETHIOPIA EV ADOPTION BEATS GLOBAL NORM
Ethiopia is accelerating electric vehicle adoption after banning fossil-fuel car imports in 2024 and slashing EV tariffs to as low as 15%, with zero duty on fully knocked-down kits. EV penetration has jumped from under 1% to nearly 6% of vehicles - above the 4% global average - as fuel subsidies strained state finances. Following a 2023 sovereign default, the country secured a $3.4bn IMF bailout. Power from the Grand Ethiopian Renaissance Dam, generating 5 150MW, underpins the shift. Chinese brands like BYD dominate sales. Ethiopia targets 500 000 EVs by 2032. (SOURCE: Moneyweb)
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TRUMP ANNOUNCES 15% HIKE ON GLOBAL TARIFFS
Following a court ruling, former US President Donald Trump announced an increase in the United States’ global tariff rate from 10% to 15%. The move affects imports from numerous countries, aiming to bolster domestic manufacturing and reduce trade deficits. Trump argued that higher tariffs would protect American jobs and encourage local production, while critics warned of potential inflationary pressures and retaliation from trade partners. The adjustment comes amid ongoing debates over trade policy, global supply chains, and economic competitiveness. Businesses and importers are assessing the impact on costs, pricing strategies, and long-term trade relationships with affected countries worldwide. (SOURCE: Reuters)
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CRYPTO CURRENCIES BLEEDS R1.6 TRILLION IN 24 HOURS
Bitcoin fell sharply in early Asia trading this morning dropping nearly 4.8% to $64 300 amid renewed uncertainty over US tariffs. Ether declined 5.2% as investors digested President Trump’s announcement raising global tariffs from 10% to 15% after a Supreme Court ruling limiting emergency tariff authority. The crypto market lost over $100 billion in 24 hours, with broader digital assets reeling and US-listed Bitcoin funds recording $3.8 billion in outflows. Analysts warned that macroeconomic tensions, including Iran geopolitical risks and tariff whiplash, are testing Bitcoin’s key $60 000 support, while recovery hinges on reclaiming $70 000 to shift market sentiment. (SOURCE: Bloomberg)
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One man practicing sportsmanship is far better than a hundred teaching it.
Knute Rockne |
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| Dollar | R16.00
| + 0.30% | | Pound | R21.64
| + 0.02% | | Euro | R18.91 | - 0.01% | | Yen | 0.103505 |
| | Yuan | R2.32
| + 0. 28% | | Bitcoin | $ 65 721.36
| - 3.03% |
These rates are correct at time of going to press. | | Platinum | $ 2 158.00
| + 0.26% | | Gold | $ 5 131.64
| + 0.49% | | Oil | $ 70.96
| - 0.82% | | All Share | 124 258.22
| + 1.02% | | Repo | 6.75 | | | Prime | 10.25 | |
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