| WILL VOTERS USE THEIR POWER TO PUT POLITICIANS IN THEIR PLACE? |
As political parties scramble for votes ahead of South Africa’s 4 November local elections, they should focus less on campaign rhetoric and more on workable solutions to municipal governance failures. With only 15% of municipalities achieving clean audits in 2024/25, voters need credible plans to improve financial management, accountability and service delivery. The Auditor-General’s forthcoming findings will provide a timely reality check.
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| BEHIND-THE-SCENES LOOK AT WHAT MAKES TRUDA FOODS GREAT |
(ltr) Tanya Hulse (TLC) with Jason Matthews, Mark van Heerden, Shane Le Breton and Percy Zondi from Truda Foods.
The Industry Network Forum under the auspices of the Pietermaritzburg and Midlands Chamber of Business offered members a behind-the-scenes look at Truda Foods, one of South Africa’s leading snack food manufacturers.
Based in Mkondeni, the company produces a wide range of popular snacks, including potato crisps, maize snacks, popcorn and other savoury treats for local and international markets. The visit provided an opportunity to see high-quality manufacturing processes in action, learn from Truda Foods’ production and quality systems, and gain practical insights that could be applied to other businesses. It also provided valuable networking with fellow PMCB members, making for an informative and productive morning.
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| MPOPHOMENI’S HERITAGE, CULTURE, CRAFTS ON SHOW |
Celebrate Heritage Month with the Zulu Mpophomeni Tourism Experience on 26 September and discover 25 years of community-led tourism. Expect a showcase of traditional beadwork, crafts, cultural performances, storytelling and local entrepreneurs. Explore Mpophomeni’s rich history while supporting the people keeping its heritage alive. Join this colourful celebration at the Mpophomeni Tourism Gateway Centre from 10 am to 2 pm. Come experience the culture, meet the community and discover a township where heritage is helping build opportunity and pride. For more information, contact 072 516 6176 or 033 238 0288 or at frankmchunu11@gmail.com.
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1992: Nelson Mandela and FW de Klerk agreed to restart talks that had stalled over rising violence in the country.
Elsewhere, in 1937, JRR Tolkien's The Hobbit or There and Back, was published.
International Day of Peace is marked today and so too is World Alzheimer’s Day. |
SMMES SHOW FIGHTING SPIRIT IN FACE OF SCALING CHALLENGES
South Africa’s small businesses are showing resilience but remain stuck at a growth ceiling, according to the 2026 State of the SMME report. Among 800 businesses surveyed by World Wide Worx for Shoprite, 32.1% have operated for more than 20 years, yet many have failed to grow into larger employers.
Confidence is improving, with 42% describing themselves as growing, up from 33% in 2025, while 85% expect moderate to high growth. However, access to markets remains the biggest constraint, cited by 56.9%, followed by finance at 39.5%. Although 70.8% say better funding would improve competitiveness, 90.9% rely on their own resources and networks, with only 9.7% using bank loans. (SOURCE: Engineering News)
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... AS SHOPRITE BACKS MARKET ACCESS, FUNDING WITH R30 MILLION SUPPORT
Shoprite says its Next Capital division is expanding support for commercially viable small businesses by combining market access, working capital and practical business support. The group invested R30 million in enterprise and supplier development this year, onboarding 13 new suppliers and bringing the number of supported SMMEs to 84. These businesses supplied 469 locally produced products to Shoprite’s retail market. A further R10.7 billion in working capital has been provided to 120 suppliers. Shoprite says the support is helping businesses grow, with Gauteng fresh-produce supplier Urban Grown expanding by about 45% over four years. The company now employs 34 people, illustrating the potential impact of stronger supply-chain access. (SOURCE: Engineering News)
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R2 BILLION CLUB MED SETS DOWN TOURISM DEVELOPMENT MARKER
President Cyril Ramaphosa has hailed the opening of South Africa’s first Club Med resort, a more than R2 billion development at Tinley Manor on the KZN coast. Opened on 17 September, the resort is described as the country’s largest hospitality investment since Sun City. Construction created more than 2 300 direct and indirect jobs, while the completed development has 600 permanent direct positions and supports a further 1 500 jobs through suppliers and related businesses. About 84% of its workforce is South African, while Vikela Safari Lodge employs people from surrounding communities. The development comes amid rising tourism demand, with 6.5 million international arrivals recorded in the first seven months of 2026. (SOURCE: Moneyweb) |
... AND LANDS TOP GREEN BUILDING ACCOLADE
Club Med South Africa’s Beach & Safari resort at Tinley Manor has become the first project in the country to achieve 4-Star Green Star SA V2 Design Certification, setting a new benchmark for sustainable hospitality development. The rating, awarded by the Green Building Council South Africa, applies to six building packages covering about 31 817 sq/m. The resort was modelled to use 60% less annual energy than the V2 baseline and about 40% less potable water. Sustainability measures include comprehensive sub-metering, upfront carbon assessment, waste diversion, heat-island reduction, healthier indoor environments and climate-resilience measures. (SOURCE: Engineering News)
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PENSION FUND DROPS R70 BILLION IN 20 YEARS IN BAD INVESTMENTS
The Government Employees Pension Fund (GEPF) lost an estimated R70 billion over two decades through loss-making unlisted investments managed by the Public Investment Corporation (PIC), compared with what the money could have earned in bonds. One of the largest setbacks was cement producer AfriSam, which cost about R9 billion between 2008 and 2010. Other investments, including Daybreak Farms and Independent Media, suffered substantial write-downs and reportedly delivered internal rates of return of -100%. Many of the controversial deals were channelled through the PIC’s Isibaya Fund. Investment management and selection processes are reported to have improved since 2015, but the losses have renewed calls for greater transparency and deal-level accountability. (SOURCE: News24)
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... AS DBSA SLASHES MUNICIPAL LENDING ON RISKY LOANS
The Development Bank of Southern Africa has sharply reduced lending to municipalities for a second consecutive year as financial pressures and credit risks mount. Municipal disbursements fell from R4.6 billion in 2024 to R3.9 billion in 2025 and just R1.3 billion in 2026. DBSA’s overall municipal exposure also declined from R35.4 billion to R31.2 billion. Of its R29.5 billion municipal development loan book, R16.1 billion is classified as high-risk Stage 2. Credit-impaired exposure totals R153.8 million. DBSA chair David Makhura says municipalities cannot be allowed to fail, calling for infrastructure investment, stronger institutions and greater accountability. (SOURCE: Moneyweb)
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... AND TRANSNET WANTS R26 BILLION TO REVIVE RAIL NETWORK
Transnet is asking National Treasury for R26-billion to refurbish South Africa’s freight rail network as it seeks to restore capacity and boost trade. The plan includes opening the network to private train operators and developing a new Botswana corridor to strengthen regional trade. The investment forms part of efforts to address years of underinvestment and operational constraints that have weakened rail’s contribution to the economy. Transnet is also pursuing partnerships to revitalise neglected branch lines and attract additional investment into the freight system. The broader strategy aims to improve rail reliability, increase freight volumes and strengthen South Africa’s position as a regional logistics hub. (SOURCE: BDLive)
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AI RULES ON THE BACK BURNER PENDING GLOBAL GUIDANCE
South Africa’s financial regulators are holding off on new artificial intelligence rules until the Financial Stability Board publishes its global guidance next month. FSCA commissioner Unathi Kamlana said alignment with international standards is important as AI evolves rapidly. The FSCA and Prudential Authority have already assessed AI adoption across the financial sector and plan a further discussion paper covering governance principles, including specific issues around agentic AI. Kamlana said regulators would continue addressing AI-related risks through principles rather than prescriptive rules while the technology develops. The eventual framework is expected to guide the SARB, Prudential Authority and FSCA. (SOURCE: Bloomberg) |
PROBE UNDERWAY TO REIN IN 90% CEMENT DUMPING
South Africa’s International Trade Administration Commission (Itac) has found a prima facie case of damaging cement imports from Mozambique and Vietnam, prompting a tariff investigation. Dumping margins of up to 90% have been identified, raising concerns about the impact of low-priced imports on local cement producers. The probe will examine whether imported cement is being sold in South Africa at unfairly low prices and whether this is causing material harm to the domestic industry. The investigation comes as local producers face pressure from imports and weak demand. Any eventual tariff measures would depend on the outcome of Itac’s investigation and recommendations to government. (SOURCE: BDLive) |
OR TAMBO RANKS AS WORLD’S 4OTH TOP CONNECTED AIRPORT
OR Tambo International Airport ranks 40th among the world’s 50 most connected airports, with Addis Ababa 50th, according to OAG’s Megahubs 2026 report. Africa’s two entries compare with 16 airports in Asia excluding Oceania, 12 in Europe, 11 in the US, three in the Middle East and four in Latin America. Australia and Canada each have one. OR Tambo slipped from 38th last year, with Airlink operating 35% of flights. Addis Ababa climbed 10 places, with Ethiopian Airlines operating 94% of flights. In the combined Africa-Middle East ranking, OR Tambo placed second, behind Dubai and ahead of Addis Ababa, Cairo and Casablanca. (SOURECE: FlightNews)
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GLOBAL BANKS BOOST ENERGY FINANCING TO R374 TRILLION
Global banks increased energy-sector financing by 15% to $2.3 trillion (R37.4 trillion) in 2025, driven partly by rising electricity demand from AI data centres, cooling technologies and electric vehicles. BloombergNEF said low-carbon financing rose 16% to a five-year high, but fossil-fuel financing also increased 13%. Banks allocated just 97 cents to clean energy for every $1 directed to fossil fuels, far below the $4-to-$1 ratio BNEF says is needed to reach net zero. Regional differences were significant, with European banks generally directing more capital towards clean energy than their North American counterparts. JPMorgan led globally with $100 billion in energy financing. (SOURCE: Bloomberg)
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OIL PRICES EASE AS IRAN DIPLOMACY ADVANCES
Oil prices fell for a third day as concerns over supply disruptions eased and traders watched for signs of progress in US-Iran diplomacy. Brent slipped towards $104 a barrel after declining more than 3% over the previous two sessions, while WTI traded near $101. Saudi Arabia is working to restore its damaged East-West pipeline, potentially returning half its capacity within days. Some tankers are also continuing to navigate the Strait of Hormuz. Despite the pullback, Brent remains more than 70% higher this year, reflecting heightened geopolitical risks and persistent uncertainty over global oil flows. (SOURCE: Bloomberg)
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The only safe thing is to take a chance.
Elaine May |
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| Dollar | R16.24 | + 0.19% | | Pound | R21.71
| + 0.38% | | Euro | R18.63 | + 0.35% | | Yen | 0.103384 |
| | Yuan | R2.42
| + 0.15% | | Bitcoin | $ 80 554.76 | + 0.47% |
These rates are correct at time of going to press. | | Platinum | $ 1 796.50 | - 0.44% | | Gold | $ 4 350.36
| - 0.75% | | Oil | $ 102.44
| - 0.73% | | All Share | 113 002.54 | - 1.01% | | Repo | 7.00 | | | Prime | 10.50 | |
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