| UNEMPLOYMENT FIGURES DEMAND PRAGMATISM, NOT DESPAIR |
South Africa’s unemployment rate has risen to 33.6% in Q2 2026, up 0.9% from the first quarter, with youth unemployment reaching a deeply concerning 47.4%. The figures, released yesterday by Statistics South Africa, underline the scale of a challenge that is both historical and structural. Yet the response to the latest numbers has been notable for its relative absence of despair. Media coverage has largely reported the deterioration soberly, rather than resorting to familiar “woe-is-us” narratives.
At the same time, there is growing scepticism about whether official employment figures fully capture South Africa’s economic reality. Former Capitec CEO Gerrie Fourie famously highlighted the under-reported informal economy and the livelihoods it sustains beyond conventional employment measures, claiming unemployment was closer to 10%.
Even the Rand, arguably the most responsive bellwether of South Africa’s economic fortunes, has shrugged off the latest deterioration. It is currently trading below R16.20/$, suggesting markets are not interpreting the employment figures in isolation.
This broader perspective matters. Entrepreneurship, small-business development and self-employment must form an increasingly important part of the solution. In the KZN provincial capital, the Pietermaritzburg and Midlands Chamber of Business and its Trade Hub are among initiatives helping turn this recognition into practical action and enterprise development into viable employment pathways. Derek Alberts (editor)
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| CAMPUS LOADING UP ON GOODWILL TO FIGHT HUNGER |
Students and staff from Emeris Pietermaritzburg threw their support behind Rise Against Hunger.
Students and staff from Emeris Pietermaritzburg made a meaningful contribution to the Rise Against Hunger Africa Mandela Month campaign by packing 8 640 nutritious meals during Mandela Day activities. The effort produced 40 meal boxes, enough to feed 38 children for a year, while contributing to the campaign's national target of three million meals in July.
Rise Against Hunger KZN manager Yolanda Makhanya praised students’ commitment and Emeris Cares chair Mishreya Pillay (2nd year BA) said the opportunity to help underprivileged children was inspirational.
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| CALLING ASPIRING ECONOMISTS FOR RESERVE BANK BURSARIES |
The South African Reserve Bank is inviting prospective first-year undergraduate students to apply for its 2027 external bursary programme. Applications close on 30 September. Bursaries target students pursuing economics-related degrees who demonstrate academic achievement and financial need. Applicants must have provisional university acceptance, a 70% average, strong Mathematics and English marks, and be under 30. Examination results, proof of acceptance and supporting documents are required. Successful candidates may be interviewed and must sign an agreement with the Reserve Bank. Applications can be submitted online, or by email, using promo code SARBERD27.
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1883: The last quagga, the zebra-like animal hunted to extinction on the plains of South Africa, died in captivity at the Natura Artis Magistra zoo in Amsterdam.
Elsewhere, in 1877, American inventor Thomas Alva Edison invented the phonograph.
Today is observed as International Youth Day.
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REGULATOR WARNS OF POSSIBLE DATA COLLUSION AMONG MOBILE GIANTS
The Independent Communications Authority of South Africa (Icasa) has raised concerns about possible collusion among major mobile operators amid an escalating dispute over new consumer protection rules. MTN and Vodacom have separately challenged regulations requiring operators to automatically roll over unused data, voice and SMS bundles. The rules, scheduled to take effect in January 2027, also cover out-of-bundle charges, data transfers and expiry notifications.
The regulator’s concerns add a competition dimension to the legal battle, as operators argue some provisions could affect pricing and competition. Icasa’s scrutiny comes as consumers face persistent concerns over expensive mobile data and restrictive bundle expiry practices. The dispute has been ongoing for several years. (SOURCE: News24)
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BANKS FAVOUR A1 TO REIN IN R2.6 BILLION FALSE CARD DECLINES
False declines on legitimate card transactions are costing South African banks about R2.6 million annually, while outdated fraud-detection systems threaten to create a much larger global problem. Data from the South African Banking Risk Information Centre shows gross fraud losses on locally issued credit and debit cards increased from about R1.5 billion in 2024 to R1.7 billion in 2025. Banks face growing pressure to distinguish genuine fraud from legitimate transactions incorrectly rejected by security systems. Financial institutions are increasingly turning to artificial intelligence and more sophisticated transaction monitoring to improve fraud prevention without unnecessarily blocking legitimate customers. (SOURCE: BDLive)
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TRUSTEES FACE GREATER SCRUTINY IN COMPLIANCE OVERHAUL
Proposed changes to South Africa’s trust law framework aim to strengthen oversight, improve transparency and help combat money laundering. The reforms would expand the powers of the chief master while imposing stricter reporting, record-keeping and compliance obligations on trustees. The changes come amid concerns about weaknesses in trust administration and the potential misuse of trusts for illicit financial activity. Trustees would face greater responsibility for maintaining accurate records and meeting regulatory requirements, potentially increasing compliance costs and administrative burdens. The overhaul forms part of broader efforts to strengthen South Africa’s anti-money-laundering controls and prevent the country from falling back into international financial greylisting. The proposed measures are expected to give authorities greater visibility over trust structures and transactions. (SOURCE: BDLive)
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WOMEN JOB-SEEKERS CLOSING AI SKILLS GAP AT PACE
South African women are rapidly increasing their adoption of artificial intelligence skills, according to Pnet’s August 2026 Job Market Trends Report. Women now account for 32% of jobseekers listing AI capabilities, up from 25% three years ago. The report analysed 1.5 million candidate profiles and found particularly strong female participation in generative AI for design, media and content creation. Women represent about 70% of candidates listing design and media AI tools, while 60% of those citing ChatGPT proficiency are female. Female representation in robotic process automation has also risen from 27% to 39%. Pnet says the trend reflects women responding to rapidly changing workplace skills requirements. (SOURCE: Bizcommunity)
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PRESIDENCY AT ODDS WITH ESKOM CHAIR OVER RESTRUCTURING
The Presidency has rebuked Eskom chair Mteto Nyati for publicly questioning plans to restructure the power utility, insisting government is working with Eskom to protect its financial position. Nyati warned that transferring transmission assets to an independent operator could trigger change-of-control clauses in lending agreements, create accounting complications and unsettle bondholders. Presidency spokesperson Vincent Magwenya said Eskom’s concerns were well known and had been thoroughly discussed with government. President Cyril Ramaphosa supports establishing an independent transmission system operator as part of electricity market reform. Treasury is expected to appoint advisers to negotiate with Eskom lenders over the planned separation. Eskom supports the operator but wants transmission assets retained temporarily while creditor and financial risks are resolved. (SOURCE: Bloomberg)
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MOTSEPE WINS RELIEF AS R3 BILLION TANZANIAN CLAIM DISMISSED
A Tanzanian High Court ruling has delivered relief to billionaire Patrice Motsepe after striking off a long-running R3 billion claim brought by Pula Group against African Rainbow Minerals (ARM), Motsepe and related entities. The case was linked to a dispute involving graphite mining interests in Tanzania. The court’s decision removes a significant legal challenge facing Motsepe and ARM, although the outcome could still have further legal implications. The claim, valued at about $195 million, had placed pressure on ARM and its associated interests. The ruling represents a boost for Motsepe as he continues to expand his business interests across Africa. (SOURCE: News24)
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MEGA-CAP INVESTORS URGED TO LOOK BEYOND AI HYPE
Investors are being urged to look beyond fashionable AI themes as valuations of mega-cap technology companies become increasingly stretched. Ninety One says global equity markets are narrowly concentrated, making disciplined stock selection more important after years of strong gains from technology giants. The asset manager is concerned that heavy AI infrastructure spending is widening the gap between investment, cash flows and earnings, while cheaper AI models could challenge lofty valuations. It favours companies with recurring revenues, deep customer relationships and mission-critical products. Old Mutual Investment Group similarly believes current valuations reflect ambitious future profit expectations. South African assets remain relatively attractive, although supportive factors including strong precious metals, a resilient rand and lower inflation are beginning to moderate. (SOURCE: Moneyweb)
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... AS DAY TRADING TAKES A MENTAL TOLL ON 64% YOUNG MEN
Daily stock trading is strongly associated with feelings of failure among young men, according to a US study of 2,000 men. About one-quarter of men aged 18 to 29 said they trade stocks daily, with 64% of them reporting feelings of failure. Similar patterns emerged among daily gamblers, fantasy sports participants and frequent pornography users. Researchers suggest risky financial activities may serve as coping mechanisms for stress, loneliness and financial insecurity, while potentially worsening those problems. Demoralisation was particularly pronounced among men without college degrees or those neither working nor studying. Despite widespread financial anxiety, 84% of respondents said they have ambitious plans for their futures. (SOURCE: Bloomberg)
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BRICS LOOK TO AI TO SPEED UP CROSS-BORDER PAYMENTS
BRICS countries are discussing ways to link their fast payment systems and central bank digital currencies (CBDCs), Reserve Bank of India Governor Sanjay Malhotra said. The initiative aims to reduce the cost of cross-border payments and promote greater use of local currencies in trade. Malhotra said several options remain under discussion, including connecting national fast-payment systems and CBDCs. India, which hosts the 2026 BRICS summit, is also seeking to internationalise the Rupee. Malhotra said the Reserve Bank of India views artificial intelligence as a capability banks should embrace, while ensuring strong governance. He urged lenders to identify AI models in use and establish board-approved policies, saying innovation and safety should work together to support financial stability. (SOURCE: Reuters)
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ALARM AS JULY GLOBAL FOOD PRICES HIT 3-YEAR HIGH
World food prices climbed to their highest level in more than three years in July, driven by adverse weather and escalating conflicts, according to the UN Food and Agriculture Organization. The FAO Food Price Index rose to 131.1 points from 130.3 in June, its highest since January 2023. Cereal prices increased 3.4%, led by a 5.8% jump in wheat as heat damage and potential Black Sea export disruptions raised concerns. Vegetable oil prices rose 2%, while sugar gained 5.6% on weather concerns and stronger ethanol demand. Meat prices fell 2.8% and dairy declined 0.7%. The FAO warned wars and El Niño could fuel further food inflation. (SOURCE: Bloomberg)
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MARKETS AT MERCY OF YO-YO OIL PRICES, PEACE-TALK HOPES
Oil prices retreated after Pakistan signalled optimism that the US and Iran could be nearing an agreement to ease tensions and potentially reopen the Strait of Hormuz. Brent crude slipped below $88 a barrel after briefly reaching $90, with markets closely watching developments around the strategic shipping route. The strait carries about a fifth of global oil and gas supplies. Pakistan’s defence minister said recent signals suggested the parties were close to an arrangement, while talks involving Oman and Iran were reportedly advancing. Oil prices have been highly volatile since the conflict began, with disruptions also affecting diesel supplies. Brent was trading at $87.62 a barrel, while West Texas Intermediate stood at $82.21. (SOURCE: Bloomberg)
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TRAINING - TIME MANAGEMENT
Prioritise your time, set SMART goals, stay organised and on top of key events.
TRAINER: Tanya Hulse – Training Leadership Consulting
OVERVIEW
This Time Management workshop will equip you with the tools that you need to focus on the tasks that have the greatest impact to you and your organisation's productivity.
• Plan and prioritise each day's activities in a more efficient, productive manner.
• Manage and overcome procrastination.
• Apply delegation techniques.
• Identify rapid recovery rituals to manage your energy.
• Organise your workspace and workflow to improve your use of time.
• Plan and manage meetings.
WHO SHOULD ATTEND?
Managers, sales and marketing teams.
Attendees will receive a certificate of attendance.
Date: 19 August 2026
Time: 08:30 – 12:30
Venue: PMCB Offices, 1 Parkhaven , 55 Macleroy Road, Northern Park, Pietermaritzburg
COST (excludes vat) PMCB Members: R680 p/p, R645 p/p for 3/more, R595 p/p for 5/more Non-members: R900 p/p, R885 p/p for 3/more, R850 p/p for 5/more
Please note: The company will be liable for payment unless CANCELLATION is received in writing 24 hours prior to the event. |
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Let frustration fuel inspiration.
Sonia Boyce |
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