| FAMILY-FOUNDED DESTINATION CELEBRATES 20-YEAR LANDMARK |
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Con (left) and Mark Malherbe celebrating the 20th anniversary of Coffeeberry Cafe. Pic courtesy of Victoria Soutar.
Coffeeberry Cafe has become a household name in Pietermaritzburg and the surrounding community over the past 20 years. From its humble beginnings as a small coffee shop, situated on a corner site in the Cascades Lifestyle Centre, employing just 10 people, it has grown over the years to a full service restaurant, with two branches – one in a larger space at the Cascades Lifestyle Centre, and the second at the Avenues Shopping Centre in Hilton, employing around 70 people in total.
The Coffeeberry brand, owned by Con and Sue Malherbe and their son, Mark, has thrived over the past two decades, thanks to the hard work and commitment of their staff, and the loyal support of the community. Customers, friends, family and staff joined the Malherbes yesterday in a joyful and emotional celebration as they marked 20 years in service to the Pietermaritburg community. |
| RETIREMENT IS CALLING, BUT WHERE IS THE BIG QUESTION ... |
| As the retirement question looms - whether sparked by age or a friend’s relocation - many face a blend of emotional and practical decisions. For South African retirees, coastal living remains a top choice, thanks to the country’s sunny climate and active lifestyle opportunities. But beyond lifestyle, considerations like healthcare, affordability, and family proximity are key. Here’s what to weigh when choosing your ideal retirement destination. |
| REMINDER: CHRISTMAS IN JULY CHAMBER LUNCH |
| Chamber Lunch on Thursday, 10 July, sports a definite winter feel, reason for it be known as Christmas in July. Proceedings at the Pietermaritzburg and Midlands Chamber of Business include a scrumptious two-course meal, refreshments and lots of lucky draw prizes, not to mention the networking in a convivial ambience. It’s also a great opportunity to market your business by sponsoring a lucky draw prize by contacting Kay at chamber@pmcb.org.za. Proceedings get underway at 12.30 pm. Book your space for the 10 July shindig and contact Thabisile on (033) 3452747 or at info@pmcb.org.za. |
1992: Bafana Bafana beat Cameroon 1-0 in South Africa's first-ever FIFA sanctioned match.
Elsewhere, in 1985, Boris Becker became the youngest Wimbledon winner at 17 when he beat SA-born Kevin Curren in the final.
It's World Chocolate Day, Global Forgiveness Day and also World Kiswahili Language Day!
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INFORMAL SECTOR REGISTRY TO IMPROVE LABOUR ACCURACY
A proposed national register for small-scale and informal businesses aims to enhance labour market data accuracy. The move follows debate sparked by Capitec Bank CEO Gerrie Fourie, who argued that if informal workers were fully counted, the unemployment rate would be closer to 10% - not the official 32.9%. Statistician-General Risenga Maluleke said the registry would complement the Quarterly Labour Force Survey and serve as a key sampling tool. Government and private sector leaders agree that understanding the informal economy is crucial to shaping effective policy, improving infrastructure, and driving job creation. Further consultations with industries, including short-term insurance, are planned to ensure broader economic inclusion and better measurement of real employment conditions. (SOURCE: Bloomberg) |
DECLINING INFLATION FUELS BOND RALLY
South African government bonds are surging, with benchmark yields hitting five-year lows as inflation expectations ease. Break-even rates show investors now anticipate inflation will stay within the Reserve Bank’s 3%-6% target over the next 20 years, with the 20-year gauge dropping to a record 5.77%. The rally- driven by lower oil prices, a stronger Rand, and expectations of a lower inflation target - has delivered a 16% return in dollar terms this year, far outpacing emerging-market peers. Anchor Capital sees further gains in longer-dated bonds, particularly between 10 and 15 years. With inflation stable at 2.8%, policymakers may cut rates soon, boosting the rally as market confidence in long-term price stability grows. (SOURCE: Bloomberg) |
'BUTTERFLY' TRADE POLICY TO STRADDLE WEST, EAST DIVIDE
Trade Minister Parks Tau has reaffirmed South Africa’s “Butterfly Strategy,” balancing trade ties between the West and East amid rising global uncertainty. Rooted in the African Continental Free Trade Area (AfCFTA), the strategy aims to position Africa at the center, with one wing extending west toward the US and EU, and the other east across the Indian and Pacific Oceans. As tensions mount with the US over potential tariffs and with the EU’s looming carbon border tax, South Africa is countering with diversified exports, regional integration, and new finance tools, including an Export-Import Bank set to launch by 2028, while pursuing clean trade deals to unlock value-added growth. (SOURCE: Engineering News) |
PRIVATE SECTOR CHARGING STATIONS KEY TO EV SHIFT
Carbon Charge (CHARGE) has called for urgent public-private collaboration to expand South Africa’s electric vehicle (EV) charging network, following the absence of concrete infrastructure plans in the Department of Transport’s 2025 budget. While Transport Minister Barbara Creecy reaffirmed support for resilient transport, CHARGE founder Joubert Roux urged formal engagement to align regulations and remove bottlenecks. CHARGE is already rolling out 120 solar-powered, off-grid ultrafast charging stations nationwide, enabling long-distance EV travel without straining the grid. Roux emphasized that such infrastructure is crucial not only for climate goals but also for protecting South Africa’s automotive export market in an EV-driven global economy. (SOURCE: Engineering News) |
COURT'S WOOLIES RULING SETS VAT PRECEDENT
Woolworths Holdings has been vindicated in a decade-long VAT dispute with SARS over its 2014 R10 billion rights issue used to fund the David Jones acquisition. The Supreme Court of Appeal ruled in Woolworths’ favour, affirming its entitlement to claim input VAT on professional services linked to the capital raise. SARS had disallowed R8.5 million in input VAT and imposed a R2 million penalty. The court stressed the need for a holistic view of enterprise activity, rejecting SARS’s narrow interpretation. This landmark ruling clarifies VAT treatment for investment holding companies and may improve their VAT apportionment calculations going forward. (SOURCE: Moneyweb) |
ZIM CURRENCY GAINS ON HIGHER GOLD PRICES
Zimbabwe’s gold-backed ZiG currency recorded its strongest daily gain this year, rising 0.2% to 26.89 per US Dollar, as soaring gold production boosted foreign reserves. Gold output jumped 46% in the first half of 2025 to over 20,000 kilograms, tripling reserves and lifting confidence in the ZiG. The central bank now holds 3.4 tons of gold, up from 1.5 tons when the currency launched in April 2024. Despite limited use in everyday transactions, the IMF has praised ZiG’s relative stability compared to the defunct Zimbabwean dollar and supports its future as the country’s primary currency. (SOURCE: Bloomberg) |
SWEDEN ENDS AVIATION TAX TO WIN BACK LOST TRAFFIC
Sweden Scraps Air Travel Tax to Revive Ailing Aviation Sector Sweden will abolish its air travel tax on July 1 in a bid to revive its struggling aviation sector. Introduced in 2018 during a surge in climate activism, the levy of up to $54 (about R960) per flight contributed to a one-third drop in flights and the closure of smaller airports. Airlines like Ryanair and EasyJet welcomed the move, with Ryanair announcing new routes and aircraft for Sweden. Critics argue the decision will reverse environmental gains. The government insists it’s about competitiveness, but industry voices say further reforms - like reducing operating costs - are needed to make Swedish aviation financially sustainable again. (SOURCE: Bloomberg) |
OIL PRICES SLIP AHEAD OF OPEC+ OUTPUT HIKE,
Oil prices fell for a second straight day as markets brace for another OPEC+ production hike and react to escalating trade tensions. Brent crude dropped 1.2% to \$67.98 a barrel, with OPEC+ discussing a possible 411 000 barrel-a-day increase for August ahead of a rescheduled meeting now set for Saturday. Weaker risk appetite followed U.S. President Trump’s tariff threats, further pressuring global markets. Oil remains volatile amid lingering concerns over the Israel-Iran conflict, U.-Iran nuclear talks, and tightening U.S. sanctions. Meanwhile, wildfires near Canada’s oil sands and reduced output from Mexico and Venezuela have buoyed heavy crude prices despite broader market softness. (SOURCE: Bloomberg) |
GLOBAL BUSINESS TAKES R19 TRILLION HIT ON CLIMATE CHANGE
Climate change is already disrupting business worldwide, with over half of companies in a Morgan Stanley survey reporting operational impacts in the past year - from rising costs to revenue losses. Extreme heat, storms, wildfires, and water shortages are driving adaptation efforts despite growing political resistance. In the U.S., climate-related costs have topped $1 trillion (about R19 trillion), while disasters like hurricanes and floods have severely affected local economies. Globally, wildfires in Canada, floods in South Africa, and heatwaves in Australia have hit key industries. Nearly 90% of South American firms see climate risks ahead. Meanwhile, political backlash in North America is prompting some companies to downplay sustainability goals despite rising climate threats. (SOURCE: Bloomberg) |
... AS GERMAN HIGHWAYS BUCKLE UNDER HEAT STRAIN
Extreme Heat Shatters German Highways, Disrupts Summer Travel Germany is rushing to repair major autobahn sections after extreme heat caused concrete "blow-ups" - sudden road fractures triggered by expanding materials - amid temperatures reaching 39°C. The damage has sparked major traffic jams just as summer holidays begin. Older, unlayered roads are most vulnerable, with authorities imposing temporary speed limits as a precaution. A key highway in the Ruhr region is closed until today, while sections in Hesse have already been resurfaced. The heatwave, part of Europe’s accelerating climate crisis, is straining infrastructure and public health. Elsewhere, wildfires in Crete prompted mass evacuations, and several heat-related deaths were reported across southern Europe. (SOURCE: Bloomberg) |
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The only real mistake is the one from which we learn nothing.
John Powell |
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These rates are correct at time of going to press. | | Platinum | $ 1 353.10
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