| IS COSATU'S CHAOS THREATENING HARD-WON BUSINESS STABILITY? |
Cosatu’s national congress has been disrupted by leadership and credentials disputes as austerity, job losses and declining membership intensify pressure on organised labour. The federation’s weakening also has implications beyond unions: The breakdown of structured negotiation and worker protections could create risks for labour rights and business stability, as this article in Daily Maverick argues. |
| PROJECT R1 GIVES KZN LEARNERS A FINANCIAL HEADSTART |
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Morar Inc CEO Jennifer Reddy flanked by learners from Eastbury Secondary.
Morar Incorporated is taking a proactive approach to youth financial empowerment through Project R1, bringing practical money skills directly into schools selected by the KZN Department of Education. Led by CEO Jennifer Reddy, the initiative has reached 267 Grade 10 learners at Eastbury Secondary and Lenarea Secondary in Phoenix.
Delivered in partnership with School of Savings, the programme explores the psychology of money, saving, financial discipline and how everyday decisions can shape long-term outcomes. Each learner receives a financial literacy workbook and savings box to reinforce the lessons beyond the classroom.
Reddy, who grew up in Chatsworth in a modest household, shared her own experience to encourage learners to recognise that their circumstances need not determine their futures. “We don’t just want you to finish school. We want you to thrive afterwards,” she said. The aim is to equip learners with practical financial skills early, so they enter adulthood without being overwhelmed by debt and financial confusion, she said.
Project R1 is designed to continue from Grade 10 through matric, reinforcing financial literacy throughout their high-school journey.
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| PRACTICAL PROJECT MANAGEMENT SKILLS PUT INTO ACTION |
Nic Nortje of NKR Outsourced HR guided participants through an intense hands-on session on project management. Picture byLethiwe Zondi
Participants at a project management training course at the Pietermaritzburg and Midlands Chamber of Business gained practical tools to take projects from concept through completion. Led by Nic Nortje of NKR Outsourced HR, the hands-on programme covered project charters, feasibility, work breakdown structures, scheduling, budgeting, resourcing, risk and quality management, communication and monitoring. Scenario-based exercises helped participants translate proven frameworks into workplace application, strengthening their ability to manage scope, timelines and resources. The course also focused on change management, corrective action, project handover and lessons learned.
See here for the 2026 business skills training programme. |
1986: More than 170 mineworkers died at the Kinross gold mine in Mpumalanga.
Elsewhere, in 1963, the Federation of Malaya was united with Sabah, Sarawak, and Singapore to create Malaysia. Singapore left the arrangement two years later.
A topic closely related to the heated climate change debate is in focus today, on International Day for the Preservation of the Ozone Layer.
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TREASURY MOVES TO LEGISLATE FISCAL DISCIPLINE
National Treasury is preparing legislation to create a permanent fiscal anchor aimed at constraining government spending and borrowing. Director-General Duncan Pieterse says the draft law and technical work are complete, with details expected in the Medium-Term Budget Policy Statement on 21 October. Treasury favours principle-based legislation rather than a rigid numerical deficit target.
Government is also tackling municipal financial deterioration, including outstanding national department debts to municipalities, with accounting officers facing engagement to ensure payment. Amendments to the Municipal Finance Management Act are planned later this year, alongside regulations to unlock public-private infrastructure investment.
Meanwhile, South Africa is on track for a fourth consecutive primary surplus, projected at R131 billion, while Treasury expects the debt-to-GDP ratio to decline over the medium term. (SOURCE: Moneyweb)
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OCTOBER FUEL PRICE SHOCK LOOMS AS OIL SURGES
South African motorists face another sharp fuel-price shock in October, with Central Energy Fund projections pointing to increases exceeding R2 a litre. The latest data indicates possible hikes of R2.29 for 93 petrol and R2.41 for 95, while diesel could rise by between R2.04 and R2.41. That could push petrol close to R30/litre and diesel towards its previous record of R31. Global oil prices are driving the pressure, with Brent trading around $105 a barrel, up 18% in a month. The final prices will depend on oil markets and the rand-dollar exchange rate. (SOURCE: Moneyweb)
See below: Oil rises in wake of rebel attack on Saudi pipeline |
... AS SASOL SUPPLIES FUEL FOR ANTARCTIC FLIPS
Sasol has signed an agreement to supply co-processed sustainable aviation fuel (SAF) to luxury Antarctic tourism operator White Desert, marking what it describes as Africa’s first commercial SAF supply deal. The fuel, produced from used cooking and vegetable oils at Sasol’s 108 500-barrel-a-day Natref refinery, will power White Desert’s weekly Cape Town-Antarctica flights during the November-to-February season. The first Airbus A340-600 flight using Sasol’s SAF is scheduled for November. Natref, which is being converted into a hybrid biorefinery, targets SAF production of up to two million litres this year, 16 million litres in 2027 and as much as 100 million litres by 2030, subject to demand. (SOURCE: Reuters)
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MANUFACTURING CONFIDENCE SLIDES ON WEAK DEMAND
Manufacturing confidence fell four points to 27 in Q3 2026, as weak domestic demand, declining exports and economic uncertainty continued to weigh on activity, Absa’s latest survey shows. Domestic sales remained subdued for a third consecutive quarter, while export sales fell six points. Domestic orders dropped seven points and export orders five points, with increased spare capacity indicating weaker plant utilisation. While production costs eased from the previous quarter’s spike, selling-price pressures remained elevated. Insufficient demand was identified as a key constraint by 66% of manufacturers. Fixed investment, however, increased 10 points, while expectations for export volumes over the next 12 months improved, suggesting manufacturers remain focused on future growth. (SOURCE: Engineering News)
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RAND LEADS EMERGING CURRENCY SLIDE ON GLOBAL BOND STRESS
The Rand was among emerging-market currencies extending losses as rising global bond yields heightened pressure on riskier assets. MSCI’s emerging-market currency index fell 0.3%, heading for its fourth consecutive decline. The rand, alongside the Mexican peso, has underperformed since the US dollar began rebounding last week, with high-yielding and commodity-linked currencies particularly exposed. The 10-year US Treasury yield climbed to its highest level in almost two decades, fuelled by higher energy prices and renewed inflation concerns. MUFG analyst Lee Hardman warned that further increases in bond yields and energy costs could deepen pressure on emerging-market currencies. (SOURCE: Bloomberg)
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SIX GREEN HYDROGEN PROJECTS ENTER PRIORITY PIPELINE
South Africa has identified six priority projects emerging from its national green hydrogen programme, with the projects featured in a newly launched National Green Hydrogen Deal Book. Electricity and Energy Minister Kgosientsho Ramokgopa said the first wave followed a rigorous assessment designed to standardise bankability and strengthen investor confidence. Projects include Phelan Green’s e-SAF venture in Saldanha Bay, Hive Energy’s Coega green ammonia project and a hydrogen direct reduced iron project in Saldanha. Other projects target green ammonia in Prieska, green methanol for European markets and smaller-scale green hydrogen production in the Eastern Cape. Ramokgopa said priority status comes with milestones, with support potentially redirected where projects repeatedly fail to progress. Engineering News)
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... AS EU UNVEILS R1 BILLION GREEN ECONOMY FUNDING
The European Union and partners have unveiled more than R1 billion in grant-funded projects to accelerate South Africa’s green economy and position the country as a leading green hydrogen producer. Announced at the 2026 African Green Hydrogen Summit in Cape Town, the initiatives bring together the EU, Germany, Denmark and the Netherlands, with GIZ and KfW implementing projects alongside South African development institutions. A R690 million grant will strengthen policy, investment facilitation, skills, research and battery value chains, with a focus on the Northern Cape, Limpopo and Mpumalanga. A second initiative includes a R370 million grant and concessional loan funding to unlock investment in green hydrogen, through a partnership involving KfW and the Development Bank of Southern Africa. (SOURCE: Engineering News)
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FNB TURNS WHATSAPP INTO CASH ADVANCE CHANNEL
FNB is using WhatsApp to make cash advances more accessible to millions of eWallet users, particularly lower-income consumers. Qualifying customers can apply for R50 to R500 through the familiar messaging platform, without completing forms or visiting a branch. Advances can be repaid over seven, 14 or 30 days directly from their eWallet. The service, launched with AI-driven lending technology company Optasia, uses behavioural and market data to assess affordability. FNB says WhatsApp is cheaper and more accessible than data-heavy banking apps or websites. The move strengthens eWallet’s role as a broader digital financial-services platform. (SOURCE: Moneyweb)
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WOOLIES LEADS QUARTET OF SA RETAILERS AMONG WORLD’S TRUSTED
South Africa has four retailers in the global top 50 of the Newsweek 2026 World’s Most Trustworthy Companies ranking. Woolworths leads the local pack in 15th place globally, followed by Dis-Chem at 21st, Clicks at 27th and Cashbuild at 47th. The ranking covers 1,000 companies and draws on about 200,000 evaluations from more than 65,000 people across 20 countries, alongside analysis of more than 320,000 media mentions. Woolworths Group CEO Sam Ngumeni said the recognition reflected the retailer’s values and the trust built with consumers, employees, investors and other stakeholders. (SOURCE: Bizcommunity)
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TRUMP REGIME WIELDS VISA PRESSURE ON SOUTH AFRICA
The Trump administration has escalated criticism of South Africa, citing concerns over land reform, race-based policies and Pretoria’s genocide case against Israel. US Secretary of State Marco Rubio said Washington would restrict visas for foreign nationals deemed responsible for policies involving uncompensated land seizures, race-based discrimination or incitement of imminent violence against minorities. Pretoria rejects claims of discrimination or persecution against white South Africans, saying there is no evidence of a white genocide. The dispute follows Trump’s aid cuts, expulsion of South Africa’s ambassador and offer of refuge to white Afrikaners. South Africa’s embassy had not immediately commented. (SOURCE: Reuters)
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OIL RISES IN WAKE OF REBEL ATTACK ON SAUDI PIPELINE
Oil prices climbed for a second day as traders assessed worsening Middle East supply risks, with a key Saudi Arabian pipeline still offline following attacks. Brent crude rose 1.3% to $107.09 a barrel, while West Texas Intermediate gained 1.5% to $102.92. The East-West pipeline, which transports Saudi oil to the Red Sea, could remain shut for several weeks, according to reports, although the US energy secretary expects a swift restart. Goldman Sachs analysts described attacks on oil infrastructure as a meaningful escalation. Brent has surged more than 75% this year as the US-Iran war disrupts regional energy supplies. (SOURCE: Bloomberg)
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CRYPTO SENTIMENT TURNS BULLISH ON US BILL-PASSAGE ODDS
Crypto markets gained as optimism grew around the prospects of a key US cryptocurrency regulation bill. Bitcoin climbed as much as 1.5% to $78 452, again approaching the $80 000 level. The odds of the Clarity Act passing this year rose to nearly 30%, from about 14% previously, according to Polymarket. Crypto-related shares advanced more sharply, with Coinbase gaining as much as 8% and Circle rising 6.4%. Republican senators released a revised draft ahead of procedural votes expected later this week. Changes include safeguards for community banks and tougher ethics rules covering elected officials’ cryptocurrency holdings. (SOURCE: Bloomberg)
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Do You Really Need Six Types of Wills? |
At the heart of your estate planning is your will (“Last Will and Testament”). Without it, you lose your right to choose your heirs, to choose the executor of your estate, and to choose who will look after your children and your family trusts when you die.
But there’s lots of online chatter about other types of “will” such as offshore wills, digital wills, business wills, ethical wills and living wills. What are they and do you really need to put them all in place?
Click here to find out 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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Truth will always be truth, regardless of lack of understanding, disbelief or ignorance.
W. Clement Stone |
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