| FINAL CALL: SMES URGED TO SNAP UP FREE TRADE-TRAINING OFFER |
Time is running out for SMEs wanting to expand into African markets through the ground-breaking ICC TradeRoots Africa programme that offers eligible businesses free training, mentorship and practical export support. The programme runs from November 2026 to August 2027, helping SMEs navigate trade, finance, logistics and buyer connections. Businesses must be African-owned, legally registered in an AfCFTA country, operating for at least two years and turning over more than R82 000 annually. Export experience is not required. Apply here
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| COMRADES SET TO GENERATE R340 MILLION ON GLOBAL SURGE |
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Exhausted but jubilant Comrades Marathon runners crossing the finish line. Picture credit CMA
The 2027 Comrades Marathon could generate nearly R340 million in direct spending, providing a significant boost to KZN’s tourism and hospitality businesses as the iconic race celebrates its centenary with a record number of entrants.
The R340 million estimate is extrapolated from R275 million in direct spending in 2025, when 24 000 runners and 35 000 spectators followed the race by applying the 23.8% increase in entries to next year’s record 28 070-runner Down Run.
The Comrades Marathon Association said a total of 56 283 entries were received. The race’s global reach is expanding, with participants representing 129 countries and territories, up from 81 in 2026. International runners from outside Africa have more than doubled to 2 837, while 2 103 entries come from elsewhere on the continent. Gauteng leads provincial participation with 10 572 runners, followed by KZN (4 868) and the Western Cape (2 998). Women account for a record 29.6% of entrants in the 2027 edition taking place on 13 June. |
| BAKERS TRANSPORT LOADING UP ON 14 ELECTRIC TRUCKS |
Bakers Transport is embracing an electric future with an investment in 14 Sany electric trucks.
Cato Ridge-based Bakers Transport has taken delivery of 14 Sany electric trucks, expanding its fleet with vehicles designed for different commercial freight operations. The fleet comprises four electric rigid freight carriers and 10 electric truck tractors, financed through WesBank Fleet Management and Leasing. Chief executive Abdool Tayob said the investment would allow the company to evaluate electric truck performance across various transport requirements. WesBank Corporate & Commercial CEO Andisiwe Nikelo said tailored leasing arrangements could help businesses assess lifetime vehicle costs and determine whether electric trucks suited their routes and operating needs. (SOURCE: Engineering News)
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1999: South African boxers Zolile Mbityi (IBO flyweight) and Peter Malinga (IBO welterweight) both won world titles.
Elsewhere, in 1962, president John F. Kennedy declared a naval blockade in the Cuban missile crisis. |
R10 BILLION FUEL-LEVY CUT TO HELP EASE CONSUMER PRESSURE
Finance Minister Enoch Godongwana has announced R10 billion in temporary fuel levy relief to cushion motorists and businesses against soaring fuel prices. Delivering the 2026 Medium-Term Budget Policy Statement yesterday, Godongwana said the relief measures will be in place from 4 November to 1 December. The diesel levy will fall by R3 per litre and petrol by R1.50 with the reduced relief continuing until 5 January 2027, cutting diesel by R1.50 and petrol by R1 per litre.
The package will be funded by returning R10 billion previously allocated to the Central Energy Fund to the National Revenue Fund. Treasury says the intervention should ease living costs, support consumption and moderate inflation without compromising fiscal targets. Further relief will depend on available budgetary room. Previous relief measures cost taxpayers billions in foregone revenue. (SOURCE: Moneyweb)
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GOVERNMENT TARGETS R13 BILLION IN SOCIAL GRANT SAVINGS
Government expects to save R13 billion on social assistance over three years through tighter verification, fraud prevention and declining beneficiary numbers. Treasury forecasts more than R6.2 billion in savings from preventing fraudulent Social Relief of Distress grant payments. The R370 monthly SRD grant has been extended for another year, but its long-term future remains uncertain. Officials are considering whether it should focus on food poverty or require job-seeking. Falling child support grant numbers, attributed partly to declining fertility, will also reduce spending. Savings will help fund nutrition support for pregnant women, social workers and programmes tackling gender-based violence. (SOURCE: Moneyweb)
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SEPTEMBER INFLATION RISES 4.5%, BELOW EXPECTATIONS
South Africa’s annual inflation rate edged up to 4.5% in September from 4.4% in August, remaining below economists’ 4.7% forecast. Statistics South Africa released the figures on Wednesday, despite soaring energy prices driven by supply disruptions linked to conflicts in Ukraine and the Middle East. Inflationary pressures are expected to intensify, with record fuel prices set to rise again in November. Food costs could also increase as disrupted fertiliser supplies and a potential super El Niño threaten agricultural production. The South African Reserve Bank is targeting 3% inflation after raising its benchmark interest rate to 7.25% last month. (SOURCE: Bloomberg)
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... AS GROWTH PROJECTIONS TRIMMED TO 1.2% ON MOUNTING RISKS
National Treasury has cut South Africa’s 2026 economic growth forecast to 1.2%, from 1.6% projected in February, warning that risks remain tilted to the downside. Growth was 1.1% in 2025, insufficient to make meaningful inroads into unemployment and poverty. Treasury expects expansion of 1.6% in 2027, reaching 2% by 2029, below the government-business partnership’s 3% target. Finance Minister Enoch Godongwana warned that prolonged Middle East conflict, elevated energy prices and El Niño could further weaken growth. Infrastructure bottlenecks, weak confidence and limited fiscal capacity also threaten recovery, although structural reforms and improved public investment offer potential upside.
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... AND R434.2 BORROWINGS TO BUY BACK BONDS
National Treasury has increased South Africa’s borrowing requirement for the year to March 2027 by R54.2 billion to R434.2 billion, from R380 billion projected in February. The increase will mainly fund a domestic bond buyback programme designed to smooth debt repayments and reduce elevated redemptions over the medium term. Borrowing remains below the R551.2 billion raised in 2025/26. Treasury will also reduce cash balances by R11 billion to help finance the requirement. Government plans to raise about $15.5 billion (about R254 billion) in foreign currency over the medium term, prioritising concessional financing before approaching international bond markets. (SOURCE: Bloomberg)
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RESERVE BANK OPENS DOOR TO R10 TRILLION OFFSHORE ASSETS
The South African Reserve Bank has proposed rules allowing approved local fund managers to manage offshore portfolios from South Africa without establishing overseas operations. The changes could open the door for a share of an estimated R10 trillion in offshore assets to be managed domestically, boosting the country’s financial services sector. The draft rules aim to make South Africa a more attractive base for international investment management, potentially creating jobs, expanding expertise and generating additional revenue. The proposal could also strengthen Johannesburg’s position as a regional financial hub, although implementation will depend on the final regulations and approval process. (SOURCE: Moneyweb)
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IDC CLOSING IN ON R10 BILLION DEAL TO RESCUE STEELMAKER
The Industrial Development Corporation has reached an initial agreement to take over ArcelorMittal South Africa in a deal valued at about R10 billion. The proposed transaction comprises R3 billion in cash and the assumption of R7 billion in debt, with completion targeted by year-end, subject to a shareholder vote. The takeover would place the country’s largest steelmaker under state control, following years of negotiations to preserve critical manufacturing capacity. Two steel mills and an iron-ore mine have closed. AMSA shares surged as much as 21% in Johannesburg trading after news of the agreement emerged. (SOURCE: Bloomberg)
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OIL PRICES CLIMB AS HORMUZ SHIPPING ATTACKS INTENSIFY
Brent crude rose above $110 a barrel as attacks on shipping near the Strait of Hormuz threatened global supplies. Iran’s state media reported a supertanker struck a sea mine, while US West Texas Intermediate traded near $99. American Petroleum Institute data showed US crude inventories fell by 4.9 million barrels last week, potentially marking a third consecutive decline. Global oil stocks were about 500 million barrels below prewar levels at September-end, the International Energy Agency reported. Brent has surged about 80% this year amid escalating Middle East and Russia-Ukraine conflicts. Tanker attacks near Hormuz have increased sharply, heightening supply risks despite ongoing diplomatic efforts. (SOURCE: Bloomberg)
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... AS RISING FREIGHT COSTS ADD TO OIL-PRICE WOES
Goldman Sachs has warned that persistently high crude oil freight costs pose upside risks to its Brent price forecasts as Middle East conflict disrupts shipping. Global average crude freight rates have surged above $20 a barrel, seven times the $3 recorded a year ago. Rates on Middle Eastern routes exceed $35 a barrel. War-risk premiums for Strait of Hormuz crossings and ship-to-ship transfers account for more than half the annual increase, the bank said. Goldman’s baseline forecast sees Brent falling to $90 a barrel by year-end and averaging $80 in 2027, but prolonged disruption could keep prices higher. (SOURCE: Reuters)
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X FACT-CHECKING MISSES 93% FALSE US ELECTION CLAIMS
The crowdsourced fact-checking system of X, formerly Twitter, failed to flag 93.1% of false claims about the November 3 US midterm elections identified by misinformation watchdog NewsGuard. Of 189 posts promoting false claims, only 13 carried Community Notes as of October 20. The posts spread 23 of the 27 false narratives examined, attracting millions of interactions. Claims included allegations of voter fraud, false statements about voter identification laws and fabricated political imagery. Even Elon Musk, X’s owner, promoted four false claims without receiving Community Notes. The findings amplify concerns about the platform’s ability to counter election misinformation, particularly when falsehoods remain unchallenged for months. (SOURCE: NewsGuard)
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You don’t have to be strong to survive a bad situation; you simply need a plan.
Shannon L. Alder |
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