| MATHEMATICS MELTDOWN TAKES SHINE OFF KZN CLASS OF 2025 |
Having taught maths to Standard 7s and 8s at Edendale Technical High School many years ago, yours truly was bowled over by a fundamental dissonance - that foundational mathematics skills were woefully poor. Bridging the gap meant an extraordinary effort to bring the boys up to scratch, with varying success depending on the attitude of the learners.
Fast forward to the 2025 KZN matric class that appears to have achieved a triumph: a 90.6% provincial pass rate, the highest in the country, that has helped to lift South Africa’s national average to a historic 88%. But the devil in the detail highlights a distinctly pyrrhic victory - while more learners are passing, far fewer are emerging with the mathematical skills needed for meaningful participation in the economy.
Consider that of the 927 000-odd national candidates, only 34% wrote mathematics, down from 38% in 2024. Performance too has weakened with the maths pass rate falling to 64% from 69%, and the number of learners achieving at least 30% dropping from 173 774 to 162 947.
It’s a deeply concerning trend that begs a thorough revision of boastful pass rates measured against the primary skills needed in an increasingly technological economy. - Derek Alberts (Editor)
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| GLOBAL ACCOLADE SHINES UP REDDY’S LEADERSHIP CREDENTIALS |
The go-getting CEO of Morar Inc, Jennifer Reddy (pictured), has added the Top CEO of the Year in Financial Solutions at the prestigious International Association of Top Professionals (IAOTP) Annual Awards Gala in Las Vegas last year. Reddy was the only South African recognised among global executives for exceptional leadership, innovation, and sustained industry impact. The award reflects her strategic vision, ethical governance, and influence on financial solutions and complements a host of other accolades including Private Sector CEO of the Year for 2025 bestowed by African Women Chartered Accountants Forum (AWCA) as well as being nominated as CEO of the Year by Women of Stature South Africa (WOSA) and a finalist in the SAICA Chairman’s Awards finalist.
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| FERNCLIFFE REWILDING PROJECT IN RACE TO SECURE LAND |
The Ferncliffe Forest Wilding (FFW) project is down the final straight towards its R500 000 crowdfunding target to help save the land for rewilding that is at risk of being sold for development. To this end, the local forest restoration NGO, a member of the Pietermaritzburg and Midlands Chamber of Business, has already banked R424 244. However, all donations till 21 January will be matched by a British donor moved by the scope and objectives of the project.
Much has been achieved since 2021 - 1 060 indigenous trees have been planted and 829 work days translated to at least R288 000 being paid to workers, and more than 33 000m2 of invasive alien plants were cleared. FFW also received Top Project status from the German restoration organisation, Plant-for-the-Planet, for its biological and social impact. To contribute to the funding appeal, click here. For a detailed update of the FFW and its work, click here.
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An altercation between a black youth and an Indian storekeeper sparked the anti-Indian pogrom in Durban.
Elsewhere, in 2000, Bill Gates stepped down as CEO of Microsoft after co-foundimg the company in 1975 with Paul Allen. |
BANKS BRACE FOR POSSIBLE END TO PRIME RATE
South Africa is reviewing the long-standing prime lending rate used by banks to price about R6.2 trillion in credit, a benchmark fixed at 350 basis points above the repo rate since 2001. The South African Reserve Bank confirmed that technical work is under way, although no timeline has been set. The prime rate underpins a wide range of consumer and business borrowing, including mortgages, overdrafts, vehicle finance and credit cards. Analysts say the reference rate is an outdated hangover that distorts pricing. Reform options include narrowing the spread or scrapping prime altogether.
While changes could lower short-term debt-servicing costs and improve access to credit, they may also affect bank profitability and require extensive revisions to existing loan contracts. (SOURCE: Bloomberg)
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ESKOM GRID STRONGEST IN 5 YEARS ON BACK OF EXTRA 4 400MW
Eskom says South Africa’s power grid enters 2026 in its strongest position in five years, supported by 4 400MW of additional generation capacity compared with a year ago. Improvements stem from the Generation Recovery Plan launched in 2023. The utility’s Energy Availability Factor rose to 64.55% from 56.03%, exceeding the 70% benchmark on 55 occasions in nine months. Unplanned outages halved to 16.02% from 31.92%, sharply reducing load-shedding risk. Greater coal fleet reliability also cut diesel spending by about R16bn in 2025. Business leaders say improved grid stability is critical to lifting growth above 2%. (SOURCE: Moneyweb) |
JSE-LISTED FOOD PRODUCERS HIT 8-YEAR HIGH ON ROBUST OUTLOOK
South African food producers rallied to an almost eight-year high after JPMorgan Chase & Co. issued buy recommendations, citing robust prospects for 2026. Softer commodity prices, lower operating costs from factory investments, and easing local inflation supporting higher volumes underpin the positive outlook. Tiger Brands, AVI and Premier Group received new overweight ratings, driving the FTSE/JSE Food Producers Index up 1.7%, its highest intraday level since March 2018. Analysts note that producers benefit more than retailers from lower input costs and maintain strong market positions despite a weaker consumer environment. Premier Group tops JPMorgan’s sector picks after acquiring RFG Foods, strengthening its portfolio. (SOURCE: Bloomberg) |
R449 MILLION HOUSING PROJECT TO TRANSFORM DURBAN CAMPUS
Construction is under way on a R449 million student residence at UKZN’s Howard College in Durban, scheduled for completion in 2026. The development will provide nearly 2 500 beds, addressing persistent student housing shortages in Durban. Built by Enza Construction for Growthpoint Properties, the project includes a ground-floor retail component and accommodation facilities. About 1 200 temporary construction jobs are expected, with roughly 50 permanent operational posts thereafter. Local procurement and SMME participation form part of the build, coordinated through Property Point. (SOURCE: Bizcommunity) |
DISCOVERY SWALLOWS R125 MILLION CLAWBACK AFTER BACKLASH
Discovery Health has reversed its decision to recover funds mistakenly paid on behalf of medical scheme members, following widespread public criticism. The administrator apologised and confirmed it will absorb about R125 million in overpaid medicine claims affecting 16 507 beneficiaries of Discovery Health Medical Scheme. Some members faced recovery demands of up to R80,000 after being notified late last year. CEO Ron Whelan said covering the cost reflects Discovery’s commitment to fairness. The error, linked to above-threshold benefits, affected 10.5% of members on certain plans and less than 0.6% of total membership, with no material financial impact expected. (SOURCE: BDLive)
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CYBERCRIME COSTS TELCOS R5.3 BILLION IN 2025
Cybercrime cost South Africa’s telecommunications sector an estimated R5.3 billion in 2025, highlighting the growing financial and operational risks facing the industry. A new report by technology research firm Comric shows cyberattacks are escalating in scale, sophistication and frequency, disrupting networks, compromising customer data and inflating security costs. Telcos remain prime targets due to their critical infrastructure and vast data holdings. The report warns that cybercrime is now a material business risk globally, not just an IT issue. It urges companies to strengthen cybersecurity investment, improve threat detection and resilience, and prioritise collaboration to combat increasingly organised and well-funded cybercriminal networks. (SOURCE: BDLive)
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CUSTOMER LOYALTY KEEPS TOYOTA IN THE DRIVING SEAT
Toyota South Africa Motors (TSAM) maintained its number-one position in the domestic new-vehicle market in 2025, selling 148 124 units, a 15.1% increase from 2024 and its best performance since 2007. The brand captured a 24.8% market share, while total new-vehicle sales rose 15.7% to 596,818 units. Toyota’s Hilux led as South Africa’s top-selling model with 36 525 units, alongside strong performances from the Corolla Cross, Fortuner, and Hiace, all produced at the Prospecton plant in Durban. (SOURCE: Engineering News)
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AFRICA’S BUSINESS SCHOOLS URGED TO RETHINK MODELS
African business schools are being urged to move away from inherited colonial education models and develop approaches better aligned with the continent’s economic and social realities. New research from Wits Business School calls for deeper collaboration between institutions, business and government to address local challenges. The study argues that imported management orthodoxies often fail to deliver meaningful impact in African contexts. Instead, it promotes innovation, interdisciplinary learning and problem-solving rooted in African markets. By focusing on relevance, inclusivity and measurable outcomes, the research says business schools can play a more transformative role in driving sustainable growth, entrepreneurship and leadership development across the continent. (SOURCE: BDLive)
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SA LEADS AFRICA’S RENEWABLE ENERGY TRANSITION
South Africa continues to spearhead Africa’s shift to renewable energy, generating over 50 TWh in 2024 from solar, wind, hydro and other sources, positioning it as the continent’s top producer. The REIPPPP programme and enabling policies have encouraged private investment in solar, wind, green hydrogen, biofuels, carbon capture, and smart grids. Solar capacity in Southern Africa grew 25% in 2024, with South Africa leading development. The country also supplies critical minerals like platinum, cobalt, and titanium for the global energy transition. Continued regulatory progress, investment in infrastructure, and private-sector participation are expected to diversify the energy mix, secure supply, and attract new capital. (SOURCE: Engineering News)
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AFRICAN AUTO INDUSTRY OUTLINES AMBITIOUS 8-POINT PLAN
The African Association of Automotive Manufacturers (AAAM) has outlined eight key goals for 2026 under the theme “Progressive development through collaboration.” CEO Victoria Backhaus-Jerling said priorities include unlocking intra-African trade via the AfCFTA 40% local content rule, accelerating policy implementation across countries like Nigeria, Kenya, and Egypt, and advancing component manufacturing and localisation. The body will also support new-energy vehicle legislation, provide credible automotive data, build government and industry capacity, drive mineral beneficiation and value-chain integration, and promote affordable, sustainable mobility. AAAM aims to transform momentum into measurable industrial outcomes, strengthening Africa’s automotive sector and regional integration. (SOURCE: Engineering News)
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US HOUSE PASSES AGOA RENEWAL, SA FATE IN BALANCE
The US House of Representatives voted 340–54 to approve a bill renewing the African Growth and Opportunity Act (AGOA) for three years, restoring preferential duty‑free access for eligible African exports to the US market. South Africa exported about R66 billion in goods to the US under AGOA in 2023, a key boost for automotive, agriculture and manufacturing sectors. The measure now moves to the US Senate, where South Africa’s continued inclusion is contested and could face tougher scrutiny or amendments. If renewal stalls, exporters risk facing tariffs as high as 30%, potentially disrupting trade and jobs linked to US markets. (SOURCE: Bloomberg)
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GOLD SURGES, DOLLAR FALLS IN SAFE HAVEN SCRAMBLE
Gold jumped to historic highs above $4 600 an ounce as investors sought safe-haven assets amid escalating geopolitical and policy risks. A criminal probe into Federal Reserve Chair Jerome Powell has raised fears over central bank independence and future interest-rate direction, contributing to a sharp 0.2% drop in the US Dollar, its largest in nearly three weeks. Deadly protests in Iran and market anxiety over political interference in US monetary policy further boosted bullion demand. Silver also rose near record levels. Analysts say continued uncertainty is driving safe-haven buying, with precious metals benefiting from dollar weakness and global instability. (SOURCE: Bloomberg)
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What the New Year brings to you will depend a great deal on what you bring to the New Year.
Vern McLelian |
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| Dollar | R16.43 | - 0.32% | | Pound | R22.13 | - 0.30% | | Euro | R19.15 | - 0.13% | | Yen | 0.103484 |
| | Yuan | R2.36 | - 0.23% | | Bitcoin | $ 91 870.82
| +1.11% |
These rates are correct at time of going to press. | | Platinum | $ 2 314.10
| - 1.06% | | Gold | $ 4 582.00
| - 0.31% | | Oil | $ 64.24 | + 0.11% | | All Share | 120 148.51
| + 1.73% | | Repo | 6.75 | | | Prime | 10.25 | |
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