| FINAL (PROXY) COUNTDOWN TO ELECT CHAMBER DIRECTORS |
Members of the Pietermaritzburg and Midlands Chamber of Business are reminded that voting by proxy for directors to the board expires at 16h00 today. The PMCB Annual General Meeting is scheduled for 22 July and members who are not able to attend proceedings are urged to appoint a proxy or complete a ballot form before 16h00 today. Contact Mvelo on (033) 3452747 or at marketing@pmcb.org.za. |
| PAINT SQUAD DROPS IN FOR A BOUT OF SCHOOL TLC |
(ltr): Varsity College Pietermaritzburg staffers Khanyisile Mfeka (reception), Student Wellness Specialist Sonya Nursoo, Lethabo Makhubela (HR), Ishmael Simamane (general assistant), and Facilities Administrator Lungisane Mbele ready to paint.
It was all hands on deck when a posse from the Varsity College campus descended on Ashburton Primary School to give classrooms a lick of paint. The five staffers volunteered for the task at the school in terms of the KHUMO (Kids Under Mentorship of Others) partnership with the campus. KHUMO, the institution’s national CSI initiative, aims to educate young minds and make a difference by enlisting the help of students, staff and the expertise of lecturers to collaborate with a school on addressing specific needs. |
| META FAILS TO TAME ITS OWN DIGITAL MONSTERS OF DEPRAVITY |
| As predators exploit social media to spread child sexual abuse content, the digital monster proves near impossible to tame. Despite Johannesburg court orders, platforms like Instagram and WhatsApp - owned by Meta - fail to halt the cycle of depravity. For every account shut down, more emerge. Legal experts accuse Meta of bad faith and warn lives are at risk. In this unchecked digital wilderness, tech giants are enabling unspeakable harm with every hour of inaction. |
1918: Nelson Mandela was born 107 years ago. The day is globally observed in recognition of Mandela’s contribution to peace, tolerance and understanding.
Elsewhere, in 1925, the first volume of Mein Kampf, the political manifesto by Adolf Hitler was published.
To remind us of the human folly of selective hearing, today is observed as World Listening Day.
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TECHNICAL TASK TEAM TO UNCLOG MUNICIPAL PLANNING MALAISE
South Africa’s leading architectural organisations have launched a joint Technical Task Team (TTT) to help municipalities fix severely dysfunctional planning approval systems. Agreed at a high-level Durban meeting, the move follows mounting delays, inefficiencies in municipal e-portals, and lack of transparency that are undermining development and harming the profession.
The founding bodies include SACAP, the KZN Institute for Architecture, and several national architectural institutes. The TTT will partner with municipalities to streamline building plan processes, improve regulatory compliance, and rebuild public trust. Originally focused on eThekwini’s systemic failures, the initiative has expanded in response to a national crisis affecting economic development and legal compliance in urban planning across South Africa’s municipalities. (SOURCE: Engineering News)
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... AS DEVELOPERS SCRAMBLE TO FILL 2.5 MILLION HOUSING BACKLOG
Rapid urbanisation and a 2.5-million-unit housing backlog are fuelling a surge in South Africa’s affordable housing market. Developers like Calgro M3, Raubex, and Balwin are pivoting toward this segment, drawn by high demand and state support. Calgro’s Bankenveld project near Sandton will deliver 20 000 units, while Balwin secured R1bn from the IFC for over 14,500 homes. With middle-income markets stagnating, demand is booming in Gauteng and the Western Cape. Incentives like government subsidies and interest rate cuts are accelerating activity, positioning affordable housing as a critical growth frontier for SA’s property sector. (SOURCE: BDLive) |
RAMAPAHOSA COMMITS TO R1 TRILLION INFRASTRUCTURE SPEND
President Cyril Ramaphosa has reaffirmed government’s commitment to invest over R1 trillion in infrastructure over the next three years, targeting roads, ports, rail, energy, and water systems. Presenting the 2025/2026 Presidency Budget Vote, he said infrastructure was the “flywheel of economic growth” and essential to job creation and poverty reduction. Through the Infrastructure Fund and new public-private partnership rules, investments will link communities to economic hubs and improve services. This effort, aligned with the Medium-Term Development Plan and Operation Vulindlela, aims to boost economic resilience, unlock investment, and lower energy costs while supporting inclusive growth and national cohesion. (SOURCE: SAgovnews) |
SARS ASSESES 65% OF TAXPAYERS, WITH SOME AI HELP
AI-driven automation has allowed the South African Revenue Service (Sars) to assess 65% of taxpayers without return submissions, delivering faster refunds and preventing R5.5 billion in fraudulent claims. Commissioner Edward Kieswetter showcased this success at a G20 roundtable, emphasising the balance between innovation and regulation. While AI enhances financial efficiency and inclusion, Reserve Bank Governor Lesetja Kganyago and FSCA’s Katherine Gibson warned of risks like market volatility, bias, and consumer exploitation. As fintechs lead adoption, gaps in transparency remain. Regulators stress that oversight must evolve to ensure AI serves public good without stifling innovation. (SOURCE: Moneyweb) |
RETAIL SALES UP 4.2% IN MAY TO MAINTAIN ROBUST GROWTH
South Africa’s retail trade sales grew 4.2% year-on-year in May 2025, following April’s 5.2% rise, according to Stats SA. The strongest gains came from clothing, footwear and leather goods retailers, which surged 12.5%, contributing 2.1 percentage points, and general dealers, up 3.6%. Seasonally adjusted sales ticked up 0.1% month-on-month in May. Over the three months to May 2025, sales rose 3.5% year-on-year, led again by clothing retailers and general dealers. However, food and tobacco specialists dragged overall growth slightly. The data highlights steady consumer demand despite ongoing economic pressures, with fashion retail proving particularly resilient. (SOURCE: Bizcommunity) |
PIC PUMPS R150 MILLION LIFELINE INTO DAYBREAK
Africa’s largest asset manager, the Public Investment Corporation (PIC), has injected another R150 million into struggling poultry producer Daybreak Foods, bringing its 2025 investment total to R400 million. This move aims to shield the 100% PIC-owned company from liquidation and support its ongoing business rescue process. Despite past missteps, including poor management and avian flu losses, the PIC remains confident of a turnaround. With fixed assets valued up to R800 million, the PIC believes its funds are secure - but insists on improved governance and leadership. A rescue plan is due by August 22, with no further bailouts planned. (SOURCE: BDLive) |
SAA FLIES INTO R352 MILLION LOSS ON FUEL, LEASING COSTS
South African Airways (SAA) posted a R352 million loss for the year ending March 2025, reversing its R210 million profit from 2024. The loss is blamed on surging fuel costs, up 46% to R1.9 billion, and a 30% hike in aircraft leasing. Currency losses added R415 million. Despite this, revenue rose 23% to R7 billion, and SAA remains debt-free with R1.4 billion in cash. The fleet has doubled to 20 aircraft serving 17 destinations. CEO John Lamola says a strategic recovery plan is underway, supported by improved governance, audit reforms, and route expansion. (SOURCE: Moneyweb) |
... AS FLYSAFAIR BRACES FOR PILOT STRIKE
FlySafair has confirmed that salary talks with pilots represented by Solidarity have reached a deadlock, with a strike certificate issued. While industrial action could start with 72 hours’ notice, the airline has vowed to maintain operations and safeguard passenger confidence. Contingency plans are in place, and selected flights between 22 and 28 July are being rescheduled. The dispute centres on a 5.7% wage offer, rostering issues, and working conditions. Strike rules are set to be finalised by the CCMA. FlySafair says it remains committed to constructive engagement and delivering safe, reliable service throughout the dispute. (SOURCE: Bizcommunity) |
USED CAR BAN TO BOOST AFRICAN AUTO SALES TO 5.2 MILLION
Africa could see an additional 2.2 million new vehicle sales annually by 2050 if countries ban pre-owned vehicle imports, says Prof. Justin Barnes of the Gordon Institute of Business Science. Speaking at the Manufacturing Indaba, Barnes said this shift could justify 100 new auto plants and create 1.2 million jobs. In 2022, Africa imported 983 000 used vehicles, dampening new car demand. Banning such imports and adopting smart financing could boost annual new car sales from a projected 3.4 million to 5.6 million by 2050. Coordinated policy, regional supply chain alignment, and industrial investment are key to building a sustainable, continent-wide auto industry. (SOURCE: Engineering News) |
CROSS-BORDER COLLABORATION TO UNLOCK MINERAL RICHES
Africa holds 30% of the world’s energy transition minerals, yet limited cross-border collaboration hampers beneficiation and industrial growth. At the Manufacturing Indaba, experts urged African nations to unite, develop integrated value chains, and invest in infrastructure and skills. Panelists said exporting raw minerals undermines economic potential. A regional strategy - including shared industrial parks, rail links, and aligned development plans - could enable value-added production and job creation. Patriotic investment and coordinated policy frameworks were highlighted as essential. Without unity, Africa risks remaining a raw exporter, missing the opportunity to become a global player in advanced manufacturing and green technologies. (SOURCE: Engineering News) |
... AS RARE RUTHENIUM SOARS ON AI EXPLOSION
Ruthenium, a rare platinum-group metal, has nearly doubled in price to $800 (about R14 000) an ounce over the past year, driven by soaring demand from the artificial intelligence sector. Crucial in high-density data storage for hard disk drives, the mineral is now in short supply as production dwindles and traders scramble for limited stock. Annual output stands at just 30 tons, mostly as a platinum byproduct, and is forecast to decline further. As cloud computing demand grows, analysts warn the market could tip into deficit in 2026 unless cost-effective alternatives are found. Ruthenium is not traded on major exchanges. (SOURCE: Bloomberg) |
MICHELIN TO UNVEIL WORD'S TOP 1 500 HOTELS IN 125 COUNTRIES
One of the world's most prestigious travel publication, the Michelin Guide, will launch its inaugural global Michelin Key Selection on 8 October in Paris, spotlighting the world’s most exceptional hotels. Following regional rollouts in 15 destinations, the event will recognise over 1 500 top-rated properties across 125 countries. Hotels will receive one to three Keys based on service, design, and guest experience. The Guide will also debut four Special Awards for excellence in architecture, wellness, cultural immersion, and impactful openings. The ceremony, held at the Musée des Arts Décoratifs, marks a bold new chapter in global leisure and travel recognition. (SOURCE: Bizcommunity) |
R39 BILLION CRYPTO THEFT ALEADY OVERSHADOWS 2024 TOTALS
Crypto-related thefts and hacks have already surpassed 2024’s total, with over $2.17 billion (about R39 billion) stolen by June 2025, according to Chainalysis. The $1.5 billion Bybit exchange breach, linked to North Korea’s Lazarus Group, marks the largest recorded crypto hack. Attacks on individual wallets now account for 23% of stolen funds, driven by phishing and increasingly sophisticated methods. Coinbase estimates a $400 million cost from a May attack. Beyond digital threats, criminals are using physical violence - so-called “wrench attacks” - to extract private keys. As platforms boost security, hackers are evolving too, raising alarm over both technical and physical risks for crypto holders and exchanges. (SOURCE: Bloomberg) |
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The best thing about the future is that it comes one day at a time.
Abraham Lincoln |
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| Dollar | R17.80 | + 0.21% | | Pound | R23.89 | + 0.10% | | Euro | R20.68 | - 0.01% | | Yen | R2.48 | + 0.16% | | Yuan | R2.48 | + 0.16% | | Bitcoin | $120 297.00
| - 0.05% |
These rates are correct at time of going to press. | | Platinum | $ 1 460.10
| - 0.75% | | Gold | $ 3 339.88
| + 0.04% | | Oil | $ 70.22
| + 0.92% | | All Share | 97 353.76
| + 0.30% | | Repo | 7.25 | | | Prime | 10.75 | |
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