| NO TARIFF DEAL, RAND TANKS, EXPORT SUPPORT DESK TO SOFTEN 30% BLOW |
Hopes for a last-minute reprieve of the 30% US trade tariffs haven’t materialised, the Rand tanked agaiant most currencies (currently around R18.20/$) and the Department of Trade, Industry and Competition has launched an Export Support Desk to help soften the blow. The desk offers guidance on alternative markets, compliance, and embassy linkages. Minister Parks Tau said the move is vital to protect jobs and key sectors like automotive, agroprocessing, steel, and chemicals. The initiative is part of broader efforts to diversify exports to regions such as Africa, the EU, Asia, and Latin America. South Africa is not the only country affected by the US tariff regime as this list shows. |
| NASHUA FLIES FLAG FOR COMMUNITY CHEST |
Nashua Midlands Sales Director JP du Toit received a token of appreciation from the Community Chest’s Angie Narayanan for the contribution towards the Red Feather Legacy Project.
Nashua Midlands has reaffirmed its commitment to community upliftment by pledging continued support to the Community Chest’s Red Feather Legacy Project. The announcement came during Nashua’s 51st anniversary Golf Day at Maritzburg Golf Club, where the Chest was invited to raise funds through raffle ticket and Mulligan sales. This marks the fourth consecutive pledge by Nashua Midlands, highlighting its dedication to local impact and long-term sustainability. The Community Chest, gearing up for its 65th anniversary in 2025, expressed deep appreciation for the company’s generosity and partnership in building a stronger, more resilient Pietermaritzburg and surrounding districts.
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| NOT SO FAST, N3 ROADWORKS TO DISRUPT TRAVEL TOMORROW |
| SANRAL has advised motorists of a planned partial fast lane closure on the N3 northbound between Key Ridge and the Hammarsdale Interchange tomorrow, 2 August, from 9 am to 3 pm, to allow for the surveying of traffic lanes as part of the N3 Section 2 re-alignment project. While the R103 will be available as an alternative route, SANRAL has warned of delays and urged motorists to plan their travel accordingly. |
1954: A key piece of apartheid legislation, The Natives Resettlement Act, Act No 19 of 1954, was promulgated.
Elsewhere, in 1834, slavery was officially abolished in the British Empire when the Slavery Abolition Act 1833 came into force a year after it was passed by the British Parliament.
Today is also observed as World Cancer Day and World Wide Web Day.
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RESERVE BANK CUTS INTEREST RATE TO 7%, EYES 3% INFLATION
The South African Reserve Bank (SARB) has cut the repo rate by 25 basis points to 7%, following a unanimous decision by its Monetary Policy Committee. This lowers the prime lending rate to 10.5%. Governor Lesetja Kganyago cited weak GDP growth and the looming threat of steep US tariffs - up to 30% on SA exports - as key concerns. Despite subdued inflation (3% CPI in June), food and fuel prices remain volatile.
SARB now aims for inflation to settle at the bottom of its 3%–6% range, reinforcing investor confidence and lowering borrowing costs. The 2025 growth outlook has been revised downward, but recovery signs and structural reforms offer hope. SARB plans to anchor inflation expectations at 3% going forward. (SOURCE: BDLive)
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… AS JUNE FOOD INFLATION SURGES BY 5.1%
South Africa’s food inflation surged to 5.1% year-on-year in June - outpacing overall CPI at 3% - raising fresh concern over household food costs. Month-on-month food inflation hit 0.7%, with steep rises in vegetables (13.6%), fruit and nuts (13.2%), and meat (6.6%). Carrots and lettuce soared over 33%, while beef, bananas, and apples also spiked. The Bureau for Food and Agricultural Policy warns that food basket costs rose R192 in a year, now consuming over 30% of low-income households’ income. While a stronger rand softened global cost pressures, energy hikes and disease outbreaks remain serious risks to food price stability. (SOURCE: Engineering News) |
… AND 7.3% HOUSE-PRICE INCREASE BUOYES HOME OWNERS
South Africa’s national house-price inflation reached 7.3% in June 2025, the strongest since 2007, driven by a broad recovery across major provinces. The Western Cape led with 8.3% growth, while Gauteng and KZN followed at 5.4% and 5.1% respectively. Real house-price growth has remained positive for nine consecutive months, supported by low consumer inflation. Coastal properties, freehold homes, and the upper price bands are outperforming, with Cape Town leading metro rebounds. Despite fewer total home sales, higher-end segments - from R1.5 million to R35 million - have seen increased activity, signalling renewed investor confidence in the residential property market. (SOURCE: Bizcommunity) |
CONCOURT BACKS VODACOM IN LONG-RUNNING ‘PLEASE CALL ME’ SAGA
The Constitutional Court has upheld Vodacom’s appeal in the long-running "Please Call Me" case, ruling that the matter must return to a newly constituted panel of the Supreme Court of Appeal. This overturns a previous judgment that could have forced Vodacom to pay former employee Kenneth Makate up to R63 billion for his idea, first proposed in the early 2000s. Vodacom welcomed the ruling, which it argued saved the company, its staff, and shareholders from financial devastation. Makate has pursued recognition and compensation for over 17 years. Vodacom shares rose following the ruling, and the company says it will consider its next steps. (SOURCE: Moneyweb) |
POULTRY PRODUCERS DEMAND END OF US-IMPORT QUOTA
The South African Poultry Association (Sapa) has criticised Trade Minister Parks Tau for announcing plans to simplify US poultry exports under the 2016 tariff rate quota without consulting local producers. Tau’s statement, aimed at unlocking $91 million (about R1.6 billion) in trade, was deemed vague by Sapa, which said it had requested prior engagement during a May meeting. The US import quota has increased from 65 000 to 72 000 tonnes, benefitting US exporters without reciprocal access for South African poultry. Sapa demands clarity on the trade commitments, immediate revocation of the quota, and calls for transparent, consultative trade negotiations that consider local industry interests. (SOURCE: FreightNews) |
AMSA TO CLOSE STEEL MILLS AFTER RESCUE TALKS FALTER
ArcelorMittal South Africa (AMSA) confirmed it will proceed with closing its loss-making long steel operations by 30 September 2025, after talks with government failed to yield a viable solution. The closure threatens 3,500 jobs and affects key sectors like construction, mining, and automotive. AMSA reported a half-year headline loss of R1.01 billion, with revenue down 17% to R17 billion and sales volumes falling 11% amid weak domestic demand. The long steel unit faces challenges from high electricity costs, poor freight logistics, local mini-mills, and Chinese imports. Trade Minister Parks Tau said government is in “firefighting mode” to avert the shutdown. (SOURCE: Reuters) |
WOOLIES BREAKS NEW GROUND IN STAFF WELLNESS
Woolworths has become the first major retailer in South Africa to offer over 24,000 frontline employees access to private health insurance. Through a partnership with Momentum Health4Me Gold, staff across stores and distribution centres now benefit from GP visits, dental and optical care, and chronic medication. The initiative integrates healthcare, wellness, and risk cover into a single, accessible digital platform. Building on Woolworths’ R120 million Just Wage Initiative, this pioneering move underscores the company’s belief that investing in employee wellbeing is vital for long-term sustainability. It’s a bold step toward a “Just Life” – one of dignity, purpose, and holistic support. |
TARIFFS PLUNGE GLOBAL COPPER MARKET IN DISARRAY
The global copper trade was rocked after former President Donald Trump imposed a 50% tariff on copper imports, excluding key products like refined metal. This unexpected exemption caused US copper prices to plunge over 20% - the largest drop ever - erasing the hefty Comex-LME price premium. Traders who rushed copper into the US ahead of the tariff suffered losses, and market expectations were upended. Massive volumes now sit in US warehouses, raising speculation of re-exports. Analysts say the move prioritizes supply security but doesn’t change fundamentals. Semi-finished products are now tariffed, while refined copper may face delayed tariffs starting in 2027. (SOURCE: Bloomberg) |
CALL TO ACTION AS FOOD SECURITY CRISIS MOUNTS
The global food crisis is no longer a distant threat but an escalating reality, warns Debra Mallowah, chair of the B20 Sustainable Food Systems Task Force. Speaking at a B20 roundtable, she said food system disruptions are intensifying worldwide, affecting rich and poor alike. One in ten people now face hunger, with rising costs and climate shocks straining farmers. By 2030, an extra 80 million hectares of farmland will be needed - mostly in Africa and Latin America. With Africa’s smallholder farmers producing 70% of the continent’s food, but lacking resources, urgent investment and sustainable reforms are critical to avert deeper global insecurity. (SOURCE: Engineering News |
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Confidence is contagious. So is lack of confidence.
Vince Lombardi |
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| Dollar | R18.22 | - 0.12% | | Pound | R24.06 | - 0.17% | | Euro | R20.81 | - 0.22% | | Yen | 0.120856 |
| | Yuan | R2.53 | + 0.08% | | Bitcoin | $ 115 358.90
| - 0.97% |
These rates are correct at time of going to press. | | Platinum | $ 1 284.00
| - 0.07% | | Gold | $ 3 293.55 | + 0.11% | | Oil | $ 71.55
| - 0.21% | | All Share | 98 520.14
| - 0.80% | | Repo | 7.00 | | | Prime | 10.50 | |
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