| ALL EYES ON G20 FANFARE, BUT REAL SHOW IS RATES DECISION |
The Rand, hovering around the R17.20/$ mark, is on edge as the G20 circus rolls into Johannesburg, albeit without some of the world’s leading clowns, jugglers and fire-eaters. The show is likely to draw attention away from an arguably more consequential event - the interest rate decision on Thursday. The G20 summit may hog headlines, but the Reserve Bank’s deliberations on borrowing costs and inflation targets will have a more direct impact on domestic markets, consumer spending, and investment. Truth is, a possible 0.25% cut to the repo rate would be a more accurate bellwether of our financial prospects than an anxious huddle over the health of the world economy. Derek Alberts (Editor)
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| AQUAPARK ON COURSE FOR DECEMBER DEADLINE |
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The pioneering AquaPark project (middle, left) is set to deepen Pietermaritzburg's rich sporting legacy with technology-rich infrastructure and world-class facilities.
The multi-million Rand project to create a world-class sporting precinct in Pietermaritzburg is on track for a December handover, marking a key milestone of the ambitious five-phase AquaPark development. Anchored by an Olympic-standard 52.5 m Myrtha pool - the same technology used in 14 Olympic and World Championship venues - the project will enable elite training, water polo and multi-event competition along with community and public participative endeavours.
Construction has progressed rapidly around imported components from Italy. Filling and testing began earlier this month in keeping the project on schedule for a 12 December handover. AquaPark aims to serve both high-performance athletes and community learners, with sponsors expressing interest for development phases ahead. Click here for more information about the project.
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| CHAMBER WAITING WITH BATED BREATH ON GLOBAL AWARD |
The Pietermaritzburg & Midlands Chamber of Business has been named a finalist for the Enterprise Development Leadership category at the 2025 Go Global Awards, organised by the International Trade Council. The awards, to be unveiled this week in London, recognise excellence in global trade, innovation, and market expansion, celebrating organisations that significantly impact economic growth. The PMCB’s nomination is tribute to its innovative enterprise development initiatives, including skills training, mentoring, trade facilitation, and networking to empower local businesses. The accolade also highlights PMCB’s role to expand market access, fostering entrepreneurship, and promoting sustainable economic development in KZN, while enhancing its visibility and credibility on both national and international business platforms.
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1993: All of 21 political parties approved a new constitution to end minority rule in South Africa.
Elsewhere, in 1916, general Douglas Haig called off the Battle of the Somme after more than four months that claimed more than a million Allied and German casualties.
Also on this day, in 1963. the first push-button telephone went into service.
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WILL MACPHERSON'S BLACKLIST REVERSE 70% CONSTRUCTION FAILURES?
The government will intensify accountability in the construction sector by blacklisting non-performing contractors through new “restriction committees” established in every province. Public Works Minister Dean Macpherson says the move follows a CIDB–Auditor General analysis showing up to 70% of public projects are unsuccessful, plagued by delays, cost overruns or poor quality. Since June 2024, the CIDB has already blacklisted 40 contractors - compared with only one between 2002 and 2023.
Macpherson says failing contractors will no longer “resurface under new names”, and departments will use a shared database to block repeat offenders. The reforms support the 2025 National Construction Summit Declaration, which also aims to train 4 000 industry participants, expand digital oversight and strengthen community-level site stability. (SOURCE: Moneyweb)
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RAMAPHOSA URGES CORPORATES TO DEPLOY IDLE CASH
President Cyril Ramaphosa is pressing South Africa’s largest companies to convert their growing cash reserves into productive investment, arguing that unlocking this liquidity is essential for accelerating economic recovery. With the private sector holding substantial funds on balance sheets, Ramaphosa says genuine progress hinges on turning financial caution into capital expenditure that drives growth, jobs and competitiveness. He has tied much of his political legacy to a private sector-led revival, stressing that government reforms, infrastructure commitments and regulatory improvements are designed to create conditions for businesses to reinvest. Mobilising corporate cash, he insists, is now critical to rebuilding momentum. (SOURCE: BDLive)
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FRAGILE DEBT TRAJECTORY A WORRY FOR MOODY'S
Moody’s says South Africa has made encouraging fiscal progress, with improved revenue collection and tighter spending controls helping stabilise public finances. However, the agency warns the country’s overall debt trajectory remains precarious without sustained economic growth, disciplined budgeting and deeper structural reforms. While recent measures signal commitment to consolidation, Moody’s argues long-term stability will depend on the government's ability to boost investment, curb rising borrowing costs and address persistent inefficiencies. The rating agency maintains that meaningful reforms are essential to preventing further fiscal slippage and ensuring a more resilient, predictable debt path in the years ahead. (SOURCE: BDLive)
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ESKOM PUNTS REGIONAL GRID TO BOOST ELECTRICITY TRADE
Eskom CEO Dan Marokane is calling for South Africa’s Transmission Development Plan (TDP) to be complemented by a regional TDP to enable expanded electricity trade across the Southern African Power Pool. Speaking at a B20 energy transition event, he noted Eskom’s improved energy availability has already powered several Zambian mines, but limited transmission infrastructure constrains growth. South Africa’s TDP plans 14 500 km of new powerlines and 133 000 MVA of transformers by 2034, requiring an estimated R440 billion, with private-sector participation through the Independent Transmission Project programme. The Credit Guarantee Vehicle, capitalised by R2-billion government funding, aims to attract private investment and reduce financing costs for regional and national grid projects. (SOURCE: Engineering News)
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AMEO, NUMSA INK 3-YEAR WAGE DEAL
After nine negotiation rounds and a declared deadlock, the Automobile Manufacturers Employers Organisation (Ameo) and Numsa signed a three-year wage deal. Employees receive a 7% increase for 2025, backdated to July 1, and 5.5% increases in years two and three, along with a R12 500 once-off gratuity and enhanced benefits, including transport and housing allowances. Ameo chairperson Abey Kgotle called the agreement a sign of “mature social partnership,” ensuring stability, competitiveness, and long-term sustainability in South Africa’s automotive sector, providing certainty for workers, employers, and global investors. The deal covers major manufacturers including BMW, Ford, Mercedes-Benz, Toyota, Nissan, Isuzu, and Volkswagen. (SOURCE: Engineering News)
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... AS NEW UNION CHAMPIONS RIGHTS OF DOMESTIC WORKERS
A newly established union has stepped forward to champion the rights of South Africa’s domestic workers, a sector long vulnerable to exploitation and low pay. The SA Domestic Service & Allied Workers Union (SADSAWU) aims to formalise working conditions, strengthen collective bargaining power and ensure fair, enforceable wages for millions of household employees. Cosatu has welcomed the development, calling it an essential boost in the broader struggle for dignity, equity and labour justice. The federation says domestic workers remain among the country’s most undervalued and underprotected workers, and a dedicated union signals renewed momentum toward meaningful reform, improved oversight and stronger legal safeguards for this critical workforce. (SOURCE: BDLive)
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MIFFED PHARMA COMPANY FIGHTS EXCLUSION FROM HIV TENDER
Hetero SA has launched a court application to challenge its exclusion from the government’s latest antiretroviral drugs tender, arguing the decision was procedurally flawed and unfair. The pharmaceutical company says it met all technical and pricing requirements and that its omission risks reducing competition and raising costs in a crucial public health programme. Hetero is seeking an urgent review to ensure it can compete on equal footing for future HIV medicine contracts. The dispute comes as South Africa works to secure stable, affordable ARV supplies for millions of patients relying on the national treatment programme. (SOURCE: BDLive)
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COCK-A-HOOP ASTRAL DOUBLES DIVIDEND
Astral Foods has more than doubled its total 2025 dividend to R11 per share after a strong second half lifted earnings and cash generation. Headline earnings rose 14% to 2 193c, with profit up 16% to R876.4 million. The group warned, however, that bird flu, weak consumer demand, and uncertainty over Agoa’s expiry and US tariffs pose risks ahead. Lower maize and soya costs continue to support margins and operational recovery. (SOURCE: SENS)
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BARLOWORLD CASH FLOW SURGES DESPITE EARNINGS DROP
Barloworld reported a 161% increase in free cash flow to R1.7 billion for the year ending September 30, even as revenue fell 10% to R37.7-billion and headline earnings per share dropped 21% to R8.10. The company cancelled its final dividend, reducing total payouts to R1.20. Net debt fell 37% to R884-million, while net asset value per share rose 3.9% to R91.41. Board changes accompany the financial update, with five directors retiring and three new members appointed amid Newco buyout and planned delisting. (SOURCE: SENS)
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WEBUYCARS LIFTS EARNINGS DESPITE MARKET PRESSURE
WeBuyCars posted a 15% rise in core headline earnings to R937.6 million, with revenue up 13.1% to R26.4 billion for the year to September 2025. Units sold grew 8.4% to 179,006, though margins tightened as Chinese brands reshaped pricing in key segments. The group paid a 60c total dividend and set sales records above 15,000 units per month. New facilities in Rustenburg and Vereeniging added 850 bays, with capacity set to grow over 20% by year-end. (SOURCE: SENS)
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AFRICAN CENTRAL BANKS EXPECTED TO CUT RATES
A wave of African central banks is poised to ease interest rates as inflation moderates, aiming to support economic growth. Key economies including South Africa, Egypt, Ghana, Kenya, Nigeria, Angola, and smaller nations such as Lesotho and Botswana will announce policy decisions in coming weeks. Ghana may cut 325 basis points to 18.25%, Kenya 25 points to 9%, while Angola and Nigeria consider further reductions. South Africa’s Reserve Bank is expected to lower rates 25 basis points to 6.75%, following Treasury’s adoption of a 3% inflation target, signalling continued easing across the continent into 2026. (SOURCE: Bloomberg)
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Youth is the gift of nature, but age is a work of art.
Stanislaw Jerzy Lec |
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| Dollar | R17.19 | - 0.21% | | Pound | R22.61 | - 0.20% | | Euro | R19.93 | - 0.20% | | Yen | 0.111080 |
| | Yuan | R2.42 | - 0.10% | | Bitcoin | $ 89 983.70
| - 1.95% |
These rates are correct at time of going to press. | | Platinum | $ 1 527.40
| - 0.53% | | Gold | $ 4 014.16
| - 0.77% | | Oil | $ 63.73
| - 0.31% | | All Share | 112 314.21
| + 0.30% | | Repo | 7.00 | | | Prime | 10.50 | |
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