| PENSION TROUBLES, SWEATSHOP BUST, CRYPTO TURMOIL AND MORE ... |
Today’s round up of business news offers a telling commentary on the human factor driving the economy. Not all of it is good, as the minister of labour prepares to unleash inspectors to check on employers not making pension payments as they’re supposed to. Then we have clothing retailers jumping up and down to see if they’re implicated in a bust of sweatshops in Newcastle, and that while there’s a call for greater localisation for the manufacture of T-shirts.
Stories about people moving overseas are not new. These reports tend to focus on white people relocating to the UK, US and Australia, but new research adds an interesting diversion - that black students seeking better fortunes overseas have surged from 39% in 2021 to 90% in 2024.
Crypto investors hoping for clarity in the fall-out after the cryptocurrency market collectively shed 40% since its October peak will be disappointed. Reports suggest that while the “whales” are loading up, the market remains sluggish and that a sustained recovery is not on the cards anytime soon. Happy reading. Derek Alberts (editor)
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| KNOWING THE DIFFERENCE BETWEEN DELEGATION AND INSTRUCTION |
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Trainer Brenda Eckstein (second right) with some participants at yesterday's business skills training session.
Poor communication is a major barrier in many South African firms, slowing progress and productivity. To address this weakness, stalwart trainer Brenda Eckstein put attendees through an intense four-hour business skills training session at the Pietermaritzburg and Midlands Chamber of Business yesterday. Focusing on the BEI 10-step approach to effective delegation, participants learned when to delegate versus instruct, give clear instructions, and communicate assertively without aggression.
The session enabled employees to save time, achieve better results, and focus on strategic priorities. Attendees left with practical tools to improve team performance, streamline workflows, and strengthen overall organisational effectiveness, turning improved communication into a tangible driver of business success. To view the 2026 business skills training programme, click here.
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| SADDLE UP FOR A GALLOPING START AT CHAMBER RACEDAY |
Businesses have a prime opportunity to kick off 2026 with a networking boost at the Chamber Raceday on Wednesday, 18 February. The event at the Hollywood Bets Scottsville Race Course allows companies to invite clients and teams for an afternoon of racing, networking, and strategic connections. Sponsors of a race enjoy the race named after their company, a champagne parade ring experience with owners and trainers, and optional branded track signage, all broadcast on television. Attendees can also enjoy the social side with stylish hats and refreshments. Whether betting on horses or building relationships, businesses are guaranteed a winning start to the year. Contact Heidi on (033) 345 2747 or at pmcb@pmcb.org.za
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1965: Public places of recreation in white areas were proclaimed in accordance with provisions of the Group Areas Act of 1950.
Elsewhere, in 1911, the last Emperor of China abdicated at the age of 6. Puyi was expelled from the Forbidden City after a military coup in 1924. He died in 1967 aged 61.
Today is observed as International (Charles) Darwin Day.
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MINISTER SIGNALS CRACKDOWN ON TARDY PENSION PAYMENTS
Employment and Labour Minister Nomakhosazana Meth has withdrawn a key exemption, empowering labour inspectors to enforce section 34A of the Basic Conditions of Employment Act on unpaid benefit fund contributions. The move follows billions of rands in unremitted pension deductions exposed after the 2024 two-pot retirement reform.
Employers must now pay deducted contributions within seven days of payroll, while employer contributions are due within seven days of the relevant period’s end. Noncompliance triggers dual enforcement: fines of up to R10m or 10 years’ jail under the Pension Funds Act, plus compliance orders under the BCEA. Regulators warn sanctions alone are insufficient, urging stronger enforcement and permanent removal of serial offenders. (SOURCE: Daily Maverick)
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RETAILERS PROBE ‘SWEATSHOP’ SCANDAL IN NEWCASTLE
Major South African clothing retailers are investigating after labels tied to their brands were found at factories in Newcastle, KwaZulu‑Natal, allegedly operating as “sweatshops.” The discovery followed inspections that captured videos showing garments bearing tags from value‑oriented chains in potentially non‑compliant facilities. Retailers including Mr Price and others have begun enquiries into their supply chains to determine whether supplier conduct violated codes of conduct and labour standards. They stress ethical sourcing and transparent manufacturing practices, and have pledged action if breaches are confirmed. The Newcastle probes come amid broader concerns over exploitative conditions in some regional garment workshops supplying big brands. (SOURCE: News24) |
... AS CALLS MOUNT FOR T‑SHIRT MANUFACTURING IN SA
South Africa could produce millions more T‑shirts and apparel locally, boosting manufacturing output by nearly R8 billion and creating up to 34 000 jobs if retailers and policymakers align behind localisation efforts, a new study by the Localisation Support Fund shows. Retailers already source hundreds of millions of garments domestically, but much demand remains unmet in key categories like T‑shirts, athleisure and denim. Local garment manufacturers in KwaZulu‑Natal and the Western Cape have the capacity to scale, but price competitiveness and stronger industry–policy coordination are needed to unlock the full potential. The findings point to a massive opportunity to deepen domestic production and strengthen South Africa’s textile value chain. (iol.co.za) |
GROWTHPOINT DOUBLES DOWN ON KZN WITH R1.19 BILLION DEALS
Growthpoint Properties is expanding its KZN footprint through two major developments: the R392 million Tecoma Park logistics hub in Cornubia and an R800 million student housing project in Durban. Tecoma Park, a 36 830m² multi-tenanted industrial development near King Shaka International Airport and Durban Harbour, reflects strong demand for modern logistics space. The group already holds R8.6 billion in KZN assets and cites high occupancy and sustained tenant demand. Meanwhile, the Thrive Student Living project near UKZN’s Howard College will deliver up to 2 500 beds, addressing critical accommodation shortages and diversifying Growthpoint’s provincial portfolio beyond traditional commercial property. (SOURCE: BDLive)
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90% BLACK STUDENTS EYEING FORTUNES ABROAD
A new report highlights a continuing exodus of over 1-million affluent, highly educated South Africans, driven by soaring crime, limited local opportunities, and concerns for children’s futures. The South African Diaspora Report 2026 found nearly 90% of tertiary-educated students now aspire to work abroad, with intentions among young Black students surging from 39% in 2021 to 90% in 2024. Nearly half of 1 500 respondents cited insecurity as their primary reason for leaving, while 60% hold post-graduate qualifications. Most emigrants earn over $100,000 annually, forming a concentrated pool of high-value talent. The UK, US, and Australia host more than half of the diaspora. With less than a quarter planning to return, experts warn this brain drain could undermine South Africa’s economic growth, innovation, and long-term stability. (SOURCE: News24)
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... AS IMF FLAGS DOWNSIDE RISKS TO SA
The IMF has warned that South Africa’s economic outlook remains vulnerable to global shocks, citing weaker world growth, rising protectionism and policy uncertainty. In its Article IV report, the fund said higher tariffs and supply-chain disruptions could dampen exports, raise borrowing costs and unsettle financial markets. While growth forecasts were revised slightly up to 1.3% in 2025 and 1.4% in 2026, risks remain tilted to the downside. Inflation is expected to ease toward the 3% target, allowing gradual rate cuts. The IMF urged faster structural reforms, deeper private-sector participation and tighter fiscal policy to stabilise debt and boost long-term growth. (SOURCE: BDLive)
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COMMISSION PROBES PHARMA FIRMS OVER TENDER COLLUSION
The Competition Commission is investigating several pharmaceutical manufacturers following a complaint from the health department. Companies named include Ascendis, Pharma Q and Sonke, all suppliers of medicines to the state. Commission spokesperson Siyabulela Makunga confirmed the probe but said it was at an early stage and declined to detail the allegations. The commission has powers to investigate collusive tendering, including bid rotation, price fixing and cover pricing. The health department also declined to comment. The investigation follows a separate probe launched last year into Hetero SA over alleged collusion in a R15.5 billion antiretroviral tender awarded in 2025. (SOURCE: BDLive)
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... AS BANKS FACE POSSIBLE LENDING PRACTICES INQUIRY
Law firm Bowmans has warned banks the Competition Commission is likely to launch a market inquiry into lending practices affecting small businesses owned by historically disadvantaged persons. The issue gained traction at the regulator’s 2025 conference and follows parliamentary scrutiny of banks’ credit access policies. The Banking Association says SME retail lending exceeded R274 billion in January 2025. While no specific terms of reference have been issued, the commission confirmed such an inquiry is in the pipeline, though its 2026/27 focus will be the poultry sector. A separate franchising inquiry will also examine funding barriers facing SMMEs and black-owned firms. (SOURCE: BDLive)
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... AND STANDARD BANK PLAYS DOWN INTEREST IN RIVALS
Standard Bank has denied any strategic intent behind increased shareholdings in rivals Nedbank and Investec, saying the stakes were acquired through normal trading activities by subsidiaries. The group, which controls 25% of SA banking assets, said holdings are independently managed and not strategic investments. Nedbank recently disclosed that Standard Bank owned 5.57%, but later said this may be retracted after Standard Bank claimed the 5% disclosure threshold was not crossed. The matter is before the Takeover Regulation Panel. Standard Bank has also built a 5.95% stake in Investec, Africa’s largest lender by assets. (SOURCE: BDLive)
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INSURERS EMBRACE TECH TO COVER RENEWABLES
African insurers are adopting smart technologies to better manage the complex risks tied to renewable energy projects. Firms such as Santam Specialist Solutions are using AI, Internet of Things sensors, advanced analytics and blockchain to monitor assets in real time, predict failures and reduce potential losses in solar, wind and battery installations. Renewables face unique risks, including storm damage, mechanical breakdowns and battery fires, compounded by infrastructure gaps and regulatory uncertainty in emerging markets.The opportunity is significant: Swiss Re estimates global renewable energy insurance premiums could reach $237 billion(about R3.8 trillion) by 2035, compared with $22 billion for fossil fuels in 2022. (SOURCE: BDLive)
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DUBAI AIRPORT KEEPS GLOBAL CROWN WITH 95.2 MILLION PASSENGERS
Dubai International Airport has again been named the world’s busiest hub for international travel after handling a record 95.2 million passengers in 2025. The figure surpasses 92.3 million in 2024 and exceeds pre-pandemic levels of 86.3 million in 2019. Officials attribute the growth to booming tourism, business activity and real estate expansion in the emirate. Dubai reported a 5% rise in visitors last year to 19.6 million - its third consecutive annual record. Home to long-haul giant Emirates, the airport underpins “Dubai Inc.” Chief executive Paul Griffiths said record traffic is now part of the airport’s operating reality, not an exception. (SOURCE: AP)
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BITCOIN WHALES LOAD UP IN DEPRESSED CRYPTO MARKET
Bitcoin saw mixed signals last week as whale wallets accumulated roughly 53 000 coins - their largest buying spree since November - adding over $4 billion to wallets holding more than 1,000 Bitcoin. The move temporarily stabilised prices after months of divestment, leaving the cryptocurrency around 40% below its October peak. Yet, broader market participation remains thin. On Wednesday, Bitcoin fell 2.8% to $66 664, its lowest since last Friday’s selloff, while Ether dropped 3.5% to $1 938, diverging from record-high Asian equities. Sluggish trading, thin order books, and weak retail demand leave digital tokens vulnerable, suggesting short-term relief may not translate into sustained recovery. (SOURCE:Bloomberg)
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One finds limits by pushing them.
Herbert A. Simon |
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| Dollar | R15.88 | - 0.08% | | Pound | R21.65 | - 0.01% | | Euro | R18.85 | - 0.08% | | Yen | 0.103762 |
| | Yuan | R2.30 | - 0.27% | | Bitcoin | $ 66 908.46 | - 1.41% |
These rates are correct at time of going to press. | | Platinum | $ 2 118.40 | - 1.24% | | Gold | $ 5 058.70 | - 0.48% | | Oil | $ 69.53 | - 0.14% | | All Share | 121 845..54 | + 0.08% | | Repo | 6.75 | | | Prime | 10.25 | |
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