| DIESEL-CAR OWNERS MISS OUT ON AUGUST FUEL-PRICE RELIEF |
Motorists topping up this morning would have benefitted from a welcome 28-cent drop in petrol prices when the August price adjustments kicked in. Diesel users however, face a 63c–65c increase per litre while paraffin prices rose between 32c and 43c (retail), and LPG dropped by 69c nationally. The relief follows a slight dip in Brent crude oil prices from $69.36 to $69.06 and a stronger Rand (from R17.84 to R17.76/$). (SOURCE: Bizcommunity)
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| WOMEN IN BUSINESS LUNCHEON TOASTS STELLAR SUCCESS |
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The cosmic-theme venue filling up with the 377 guests at the PMCB Women in Business Luncheon who enjoyed an afternoon of networking, storytelling, and celebration. Words by PMCB intern Mvelo Ximba.
The Pietermaritzburg and Midlands Chamber of Business hosted its much-anticipated Women in Business Luncheon at Maritzburg College on Friday, 1 August under the cosmic theme of “Catch a Falling Star and Shoot for the Moon”. The 377 guests embraced the occasion with celestial flair, setting the tone for an uplifting day of networking, storytelling, and celebration.
PMCB CEO Melanie Veness opened proceedings with a message exploring moonshot thinking, followed by Mbalenhle Myeza (sales head for FNB Business in the SMME segment) who continued this thread of aspiration and innovation. However, the true star of the day was keynote speaker Ntsiki Biyela - South Africa’s first black female winemaker and founder of the award-winning Aslina Wines.
She captivated the audience with her remarkable journey from rural KZN, making traditional umqombothi with her grandmother, to becoming an internationally-celebrated winemaker. Her message was clear and heartfelt: stay open minded to see opportunity, be willing to learn, ask for help, build lasting relationships, and avoid quick judgments.
Attendees had the opportunity to taste and purchase Biyela’s wines and enjoyed a delicious lunch by CHC Catering as the 2025 PMCB Women in Business Luncheon celebrated the strength, and potential of women in the Midlands. The event was made possible with the support from key sponsors: FNB, Maritzburg College, Liberty Midlands Mall, The Witness, and CHC Catering. To view the pictures click here. |
| BRAZEN IDT CEO HIGHLIGHTS DEPTHS OF CADRE ENTITLEMENT |
1990: The Pretoria Minute was agreed upon by the government and the ANC to pave the way for negotiations to end apartheid.
1945: The US dropped an atomic bomb on Hiroshima.
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AI COMING FOR 40 WHITE-COLLAR JOBS, WARNS MICROSOFT
A Microsoft study analysing millions of interactions with its Copilot AI tool has found that white-collar jobs are most vulnerable to AI disruption. Forty occupations - particularly administrative, legal, and customer service roles - are at high risk due to their reliance on text processing, data analysis, and repetitive tasks. Jobs like administrative assistants, paralegals, customer service reps, and financial analysts top the list. Generative AI excels at drafting reports, analysing data, and automating structured workflows.
Physical and interpersonal jobs, such as electricians or healthcare workers, remain less affected. The study warns that even high-income, professional roles in law and finance are not immune. As AI adoption grows, workers in affected roles will need to reskill toward creative and judgment-based functions. (SOURCE: Moneyweb)
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BUSINESS ACTIVITY FINDS SOME TRACTION IN JULY
The S&P Global Purchasing Managers’ Index (PMI) edged up to 50.3 in July from 50.1 in June, marking a third consecutive month of marginal growth. The uptick was driven by gains in new orders and employment, with hiring reaching its fastest pace since May 2024. While domestic sales improved, export orders declined for the fourth month. Rising wage and fuel costs pushed input inflation to its sharpest since April. Nevertheless, firms maintained modest output price hikes. Business confidence rebounded after a June low, reflecting cautious optimism despite concerns over trade policy and currency volatility. (SOURCE: Engineering News) |
… AS NEW-CAR SALES SHIFT UP A GEAR AMID RISING CONFIDENCE
South Africa’s new-vehicle market is gaining momentum, with July 2025 sales hitting 51,383 units - the highest since October 2019. WesBank reports credit applications surged over 20% year-on-year, as lower interest rates, improved affordability, and positive consumer sentiment drive growth. Dealer floor sales climbed 20.3%, while rental and government sales dipped 6.7%. Chinese and Asian brands are gaining traction, with four among the top 15 sellers. As inflation stays within target, experts see room for further rate cuts, potentially pushing the sector into double-digit growth by year-end. (SOURCE: Engineering News) |
… BUT SOARING COSTS THREATEN 50% OF SMMES
Over half of South Africa’s small businesses may not survive another year without intervention, according to the new Small Business Growth Index (SBGI). Based on data from over 1 600 SMEs, the report shows 50% are contracting or struggling, with only 25% reporting growth. Key cost pressures include transport (+60.9%), utilities (+56.9%) and raw materials (+52.9%). Despite challenges, 80% plan to invest in growth. The report urges urgent structural support, including grant-based funding, hybrid finance models, and financial literacy campaigns. The SBGI, launched by Absa and SACCI, has also introduced an ambassador programme to support entrepreneurs and inform policy development. (SOURCE: Bizcommunity) |
GRAIN EXPORTERS IN A HURRY TO USE DURBAN PORT
South Africa’s grain sector is moving fast to capitalise on rail deregulation. Industry bodies Sacota, Agbiz, and Agbiz Grain are in talks with Transnet Rail Infrastructure Manager (TRIM) to form a consortium for exporting maize and soybeans via rail to Durban. With rail costs about one-third cheaper than road, revitalising grain corridors could be game-changing. Durban’s port can handle 350,000 tonnes monthly, with rail offering 175,000 tonnes of capacity. Success depends on private operators’ commitment to servicing and maintaining rural branch lines. TRIM is set to announce licensed rail operators by end-August, a key milestone for future rail exports. (SOURCE: FreightNews) |
… AS DRY SPRING POINTS TO LESS MAIZE PLANTINGS
South Africa is bracing for a hot, dry spring, with below-normal rainfall forecast across most regions, except the east, which may see wetter conditions early in the season. According to the SA Weather Service’s Seasonal Climate Watch, rising temperatures and reduced rain could impact maize planting, threatening food inflation. While soil moisture is fair after April rains, planting still relies on spring showers. The 2024/25 maize crop is expected to rise 17%, but continued dryness could put pressure on farmers and exports. No El Niño is expected, but conditions remain uncertain heading into summer. (SOURCE: Daily Maverick) |
TYMEBANK, SANLAM PERSONAL LOAN MERGER GETS NOD
The Competition Tribunal has approved the merger between TymeBank and Sanlam’s personal loans division, paving the way for a joint venture - SanlamTyme JVCo - to offer unsecured personal loans with embedded credit life insurance. TymeBank will acquire 50% of Sanlam’s loan book for R400 million and invest R31.5 million for a 50% equity stake. Sanlam will benefit from TymeBank’s digital infrastructure, while TymeBank gains access to Sanlam’s client base. The deal supports Sanlam’s credit strategy and unlocks cross-selling opportunities. A separate Sanlam-Ninety One asset management deal, giving Sanlam a 12.3% stake in Ninety One, is still awaiting South African regulatory approval. (SOURCE: Moneyweb) |
... AND NEDBANK TO OFFLOAD 21.2% ECOBANK STAKE
Nedbank plans to sell its 21.2% stake in Ecobank after a year-long review led to reclassifying the investment from strategic to financial. The sale marks the end of a 17-year alliance, as Nedbank refocuses on owning and controlling operations in Southern and East Africa. The bank is currently engaging potential buyers. Meanwhile, Nedbank reported a 6% rise in headline earnings to R8.4 billion for H1 2025, with impairments down 18% to R3.82 billion. Its credit loss ratio fell to 81 basis points, and it declared a stronger-than-expected interim dividend of R10.28 per share. (SOURCE: SENS) |
PREMIUM FLYING SNEAKS AHEAD OF CATTLE-CLASS TRAVELING
Premium-class international air travel outpaced the growth of economy flying in 2024, rising 11.8% year-on-year versus the economy's 11.5%, according to IATA. Despite this, premium travellers made up just 6% of the 116.9 million total international passengers. Asia-Pacific led growth in both classes, with total passenger demand up 28.3%. Europe recorded the most passengers (917.4 million), while the US remained the largest overall air travel market. IATA’s World Air Transport Statistics also showed Latin America and Africa climbing steadily across both segments. (SOURCE: Engineering News) |
OIL PRICES SLOW ON TRUMP THREAT TO INDIAN-RUSSIA TRADE
Oil prices fell for a third consecutive day, with Brent dropping 1.4% to $67.82 and WTI down 1.5% to $65.27 a barrel, as traders reacted to US President Donald Trump’s threat to impose steep tariffs on India over its Russian oil purchases. Trump linked low energy prices to ending the Ukraine war, with a truce deadline set for August 8. India, now Russia’s top crude buyer, criticized the move as unjustified. Volatility persists amid uncertainty over sanctions, Chinese storage, and market fundamentals. BP CEO noted the unpredictability of oil pricing due to geopolitical tensions and global supply dynamics. (SOURCE: Engineering News) |
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It is not the mountain we conquer but ourselves.
Edmund Hillary |
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| Dollar | R17.86 | + 0.55% | | Pound | R23.73 | + 0.43% | | Euro | R20.69 | + 0.11% | | Yen | 0.121203 |
| | Yuan | R2.48 | + 0.60% | | Bitcoin | $ 113 970.00 | + 0.34% |
These rates are correct at time of going to press. | | Platinum | $ 1 322.30 | - 0.33% | | Gold | $ 3 377.79 | - 0.07% | | Oil | $ 63.03 | + 0.58% | | All Share | 99 674.25 | + 0.36% | | Repo | 7.00 | | | Prime | 10.50 | |
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