| TRUTH BE TOLD, RAND’S NEXT MOVE IS ANYONE’S GUESS |
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The volatile trajectories of the Rand (left) and Brent crude followed remarkably similar patterns yesterday.
Anyone doubting the vicissitudes of market forces being swayed by sentiment and signals aired on social media should take counsel (an oxymoron if ever there was one) from the Rand’s wild ride measured against the Dollar yesterday. Starting off the day above R17/$ as risk aversion dominated the narrative, it peaked around R17.20/$ at 11 am. Then word came of Donald Trump’s softening tone about the Iran conflict - on his Truth Social platform - that saw the Rand strengthen to R16.76 at 11.10 am, a 43-cent swing in 10 minutes. That was its best level before dipping and rising to eventually close at R16.82 at the end of the day.
The uncertainty carried through this morning as the Rand is flitting just under the R17/$ mark with more volatility likely. The other metric of concern to South Africans anxiously waiting for the final determination of the fuel price on April Fool’s Day, crude oil, was similarly volatile.
There’s no prediction of what’s coming next and best we can do is battening down the hatches and hope for sense and sensibility to prevail, a big ask of leaders seemingly marching to their own beat. Hang onto your hat, the ride is not slowing anytime soon! Derek Alberts (editor)
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| MIDLANDS MALL LEVELS UP KZN GAMING DESTINATION |
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Crowds gather to watch the popular 2025 EA FC tournament as gamers pull out all the stops for the top prizes.
Midlands Mall is reinforcing its position as a leading gaming destination in KwaZulu-Natal as the Gaming Festival 2026 returns from 27 to 29 March. Now in its fifth year, the event is setting a benchmark for mall-based entertainment, transforming the centre into an immersive hub of esports, virtual reality and interactive challenges. Across the centre court, Wimpy court and Woolworths court, visitors are drawn to the interactive zones designed to keep energy levels high throughout the weekend, from competitive tournaments to rhythm-based and virtual experiences.
With over R100 000 in prizes, the festival is expected to draw visitors from across the province, boosting foot traffic and spend. Management says the event delivers a strong economic multiplier, supporting tenants and positioning Pietermaritzburg as a hub for digital innovation.
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| HULAMIN TURN-AROUND TO TACKLE TOUGH TIMES |
JSE-listed Hulamin faces a critical year as it aims to address challenging trading conditions. For the year ended December 2025, the Pietermaritzburg-based aluminium producer reported that basic headline earnings per share (HEPS) fell over 50%, dragged down by high input costs and weaker demand across global and domestic markets. Revenue dipped to R5.8 billion, with net profit dropping to R220 million. Management is implementing a turnaround strategy focusing on cost reduction, operational efficiency, and targeted expansion into high-margin products. Investors are watching closely as Hulamin seeks to stabilise earnings, restore profitability, and rebuild confidence in a market increasingly impacted by volatile commodity prices. (SOURCE: SENS)
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1960: Philip Kgosana of the PAC led a march to police headquarters in Cape Town to protest against the Sharpeville massacre.
Elsewhere, in 1989, the Exxon Valdez ran aground off the Alaskan coast to create massive oil pollution.
It's World Tuberculosis Day. |
CALLS MOUNT TO HALT FUEL LEVY HIKES
Pressure is intensifying on government to suspend April fuel levy increases as global oil prices surge in the wake of the Middle East conflict. Business Leadership South Africa (BLSA) and Cosatu are calling for urgent tax relief, warning motorists face hikes of about R5.41/l for petrol and R8.84/l for diesel.
From April 1, the general fuel levy will rise by 9c/l for petrol and 8c/l for diesel, alongside carbon tax increases of 5c/l and 6c/l, and a 7c/l Road Accident Fund levy hike. BLSA says delaying increases is the fastest economic stabiliser, while Cosatu warns of severe pressure on workers and businesses, with limited fuel reserves leaving SA highly exposed. (SOURCE: BDLive)
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SA TARGETS R2 TRILLION INVESTMENT AMID UNCERTAINTY
South Africa is targeting R2.trillion in new investment over five years, with government aiming to close the full amount starting at the end-March investment conference. The Department of Trade, Industry and Competition is driving the push despite global uncertainty, including trade tensions and Middle East conflict. Minister Parks Tau says the priority is turning pledges into jobs and growth. More than 40% of the previous R1.5 trillion target has already been achieved, with new infrastructure financing tools and reforms expected to unlock further projects and attract broader international participation. (SOURCE: BDLive)
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BANKS BRACE FOR ZERO-VAT SURPRISE ON GOLD ASSETS
A proposed amendment by National Treasury to scrap VAT zero-rating on gold bullion could raise costs by 15% for commercial banks and the South African Reserve Bank. Section 11(1)(f) of the VAT Act, in place for 35 years, allows zero-rating of gold bars, ingots, wire, granules, or plate supplied to banks, the SA Mint, and SARB. Annual gold transactions exceed R100 billion, with banks holding thousands of bars for reserves, loans, and industrial use. ENS tax executives warn higher costs, cash flow impacts, and compliance risks. Recycled gold, previously zero-rated, may now be excluded, pending the Constitutional Court of South Africa ruling on the Lueven Metals dispute. (SOURCE: Moneyweb)
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DURBAN LOOK TO ANCHOR R1.9 BILLION SUPER YACHT HARBOUR
The eThekwini Municipality has signed a letter of intent with Navigo, securing over R1.9 billion in private-sector funding to develop superyacht infrastructure and refit capabilities at the Port of Durban. The 24-hectare precinct, part of Transnet’s Ship Repair Strategy (2025–2035), could create more than 2 500 direct jobs by 2030 in marine engineering, refit services, advanced manufacturing, and tourism. Plans include a professional superyacht academy with the Durban University of Technology. Officials say lessons from Durban will inform similar proposals for a superyacht facility at the Port of Cape Town, extending South Africa’s luxury maritime capabilities. (SOURCE: Engineering News)
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TOWNSHIP MALLS ON THE RISE AS TRAVEL COSTS WEIGH
Rising fuel costs are driving more shoppers to township malls, boosting retail activity. Vukile Property Fund reports near-full occupancies of 97% across its 21 township shopping centres, with tenants seeing sales increases of 8–12% year-on-year. Higher petrol prices, up 15% since January, discourage long-distance travel to metropolitan malls, redirecting spending locally. Grocery, household goods, and fast-moving consumer products stores are the biggest beneficiaries. Analysts forecast this trend could sustain rental demand, supporting Vukile’s rental income of over R1.2 billion annually, and attract new tenants seeking stable footfall. Township malls are proving resilient amid rising transport costs. (SOURCE: News24)
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FARMERS IN COURT TO CHALLENGE FMD VACCINE RULES
Farmers and lobby groups have approached the Gauteng Division of the High Court, arguing state vaccine controls are delaying response to the Foot-and-mouth disease outbreak. Organisations including Sakeliga and Saai want permission for private procurement and administration of vaccines. Government insists permits are legally required under the Animal Diseases Act, warning uncontrolled vaccination could cause “chaos” and harm disease traceability. Authorities plan to vaccinate 14-million cattle, but farmers argue limited capacity slows progress. The urgent case centres on balancing biosecurity oversight with faster intervention to contain the rapidly spreading livestock disease. (SOURCE: BDLive)
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NIGERIAN REFINERY EXPORTS SURGE AS AFRICA SUPPLY TIGHTENS
Nigeria’s Dangote Refinery has sharply increased fuel exports as the Iran conflict disrupts global supply. Clean product exports rose to about 214 000 barrels per day in March, up from 100 000 in February, while shipments to African markets climbed to roughly 90 000 bpd from 38 000. The refinery has sold 12 petrol cargoes totalling 456 000 tonnes since reaching full capacity. Owned by Aliko Dangote, the 650 000 bpd plant is filling gaps left by reduced imports, even as Nigeria’s domestic fuel prices have surged more than 50% amid tightening supply. (SOURCE: Reuters)
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AFRICA WINS SHIPPING BUSINESS AS ROUTES SHIFT SOUTH
Shipping firms including Maersk, Hapag‑Lloyd and CMA CGM are rerouting around the Cape of Good Hope as Red Sea and Middle East instability persists. Diversions have risen more than 110%, boosting demand for bunkering at African ports. Bunker fuel sales at Port Louis nearly doubled to 929,043 t in 2024. New suppliers such as Vitol and Flex Commodities are expanding at West African hubs. Ghana’s bunkering volumes could triple over the next decade despite infrastructure and security challenges, as vessels avoid the Suez route and seek alternative refuelling stops. (SOURCE: Bloomberg)
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... AS NIGERIAN REFINERY EXPORTS SURGE ON TIGHT SUPPLIES
Nigeria’s Dangote Refinery has sharply increased fuel exports as the Iran conflict disrupts global supply. Clean product exports rose to about 214 000 barrels per day in March, up from 100 000 in February, while shipments to African markets climbed to roughly 90 000 bpd from 38 000. The refinery has sold 12 petrol cargoes totalling 456 000 tonnes since reaching full capacity. Owned by Aliko Dangote, the 650 000 bpd plant is filling gaps left by reduced imports, even as Nigeria’s domestic fuel prices have surged more than 50% amid tightening supply. (SOURCE: Reuters)
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The PMCB welcomes the following new members:
- Cell C Midlands – PMB – Cellular products and service provider – 084 433 3789
- Hlunga Academy – Psychometric Assessments and training – 031 368 1311
- Annette Pfeiffer – Individual member – 083 232 3964
- University of KwaZulu Natal Foundation – Strategic fundraising arm of the University – 031 260 1445
- Pronto Medical and Surgical – Supplier of medical and surgical consumables – 064 510 3060
- Idea Forge – Business Consultant – 082 329 5798
- Midlands Hair & Beauty Academy – Education & Training – 082 928 5678
- CNM IT Solutions (PTY) LTD - Computers, Networking and Maintenance – 033 345 9001
- Phoenix Cash and Carry – PMB – Wholesale and retail non-perishable and perishable items and household products – 033 345 3573
- Lingon Sustainability - Consulting, Facilitation, Coaching, Research – 072 778 0103
- Fuze Digital Concepts – Gazebos, Banners, Flags, Signage, Embroidery, Vehicle Branding, Branded Corporate gifts and Clothing – 031 065 5349
- Khenaya Engineering - The company specialises in the manufacturing of powerline hardware, fabrication of steel components, and precision-engineered parts for the electricity distribution and transmission sector. They have recently introduced an aluminium doors, windows and gates department – 083 676 7993
- St Ives Lodge & Venue – Lodge, conference venue, wedding venue, functions venue and restaurant - 033 234 4490
- Genset & Solar Power Solutions – Solar Systems and alternate and back-up power – 033 394 5016
To find out more about chamber membership and the many benefits click here. |
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Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind.
Dr. Seuss |
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| Dollar | R16.85 | - 0.27% | | Pound | R22.62
| - 0.16% | | Euro | R19.55
| - 0.13% | | Yen | 0.106498 |
| | Yuan | R2.45
| - 0.12% | | Bitcoin | 70 848.54
| - 0.02% |
These rates are correct at time of going to press. | | Platinum | $ 1 875.50 | + 1.81% | | Gold | $ 4 423.54
| + 0.35% | | Oil | $ 102.74
| + 2.63% | | All Share | 110 403.71
| - 0.05% | | Repo | 6.75 | | | Prime | 10.25 | |
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