| COMMUNITY CHEST SALUTES DONORS AT 65TH BIRTHDAY BASH |
 |
(ltr) Vumile Ninela (Somta Tools), Jaco Wiese (Pressure Die Castings), Jayshree Govender (Shuter & Shooter Publisher), Fortunate Madida (uMngeni-uThukela Water), Ashini Rupram (Aluminium Foil Convertors ), Lionel Mabaso (Community Chest council member) and Dushen Beharie (NTE Company).
There was plenty to cheer at the Pietermaritzburg & District Community Chest's 65th AGM that also doubled as its annual Top Donor Awards and birthday celebrations on 21 August at the Golden Horse Casino. Chair Primi Chetty praised the unwavering spirit of philanthropy, despite South Africa’s challenging economic climate. Treasurer Johan Riekert confirmed strong finances, while Executive Director Richard Rangiah thanked donors for helping to set a R5.8 million fundraising target in 2025/26 to benefit 103 NPOs. Highlights included the John Hall Extra Mile award to Elaine Naidoo and 99-year-old patron Sarah Pennington cutting the cake, later donated to a local children’s home. The Community Chest also thanked Burczak Framing, KC’s Bakery, Candles & Décor, Foodpak, Venetian Blinds among other donors and supporters who helped make the event a success. |
| WOMEN LEADERS GO GOLFING TO MARK GRADUATE SCHOOL LAUNCH |
Participants at the inaugural Women’s Clinic event hosted by the Graduate School of Business and Leadership (GSB&L) at UKZN.
The Graduate School of Business and Leadership (GSB&L) at UKZN hosted an exclusive Women’s Clinic at the Royal Durban Golf Club to launch its Women’s Month celebrations. Interim Executive Director and Dean of the GSB&L, Professor Colette Muller welcomed all participants to the day that combined golf skills training with networking opportunities for women leaders across the business specrum. Participants also got a preview of two forthcoming short courses focussing on women in leadership. Click here for more information. |
| HEART-WARMING MPOPHOMENI OUTREACH TEACHES KIDS AND THEIR DOGS |
Today, as every Friday, around 50 children in Mpophomeni gather at the local sports stadium with their dogs for training and lessons in animal welfare. Run by Funda Nenja, a non-profit founded over 15 years ago, the programme provides veterinary care, dog training, and social work support. By encouraging compassion and responsibility, Funda Nenja not only uplifts children but also strengthens families and the wider community.
|
1994: South Africa signed the SADC treaty to join the southern African bloc.
Elsewhere, in 1931, Michael Faraday discovered electromagnetic induction, that a changing magnetic field can induce voltage in a conductor. Faraday also discovered Benzene and electrolysis.
Anti-nuke activists observe today as International Day against Nuclear Tests.
|
COURT DISMISSES EMPLOYERS’ BID TO HALT EQUITY RULES
The Pretoria High Court has dismissed an urgent application by the National Employers’ Association of SA (Neasa) and business group Sakeliga to suspend new employment equity regulations. Neasa, representing 7 000 employers, argued the regulations were unconstitutional and sought an interim order pending a full review. The court rejected the bid, saying granting relief would require the “unscrambling of an egg,” disrupting implementation already under way.
The ruling means companies must comply with the government’s transformation framework while legal challenges continue, reinforcing the state’s push to accelerate workplace equity and address historical inequalities through stricter sectoral targets. (SOURCE: BDLive)
|
PRODUCER INFLATION ACCELERATES ON PRICIER FUEL, FOOD
South Africa’s annual producer inflation rose to 1.5% in July, up from 0.6% in June, driven by fuel and food costs, according to Stats SA. The producer price index (PPI) for final manufactured goods increased 0.7% month-on-month. Electricity and water costs also surged, with the index climbing 3.8%, largely due to a 10.4% spike in water tariffs and a 3.1% rise in electricity. Analysts said the uptick highlights persistent cost pressures across key sectors, with implications for consumer inflation trends and monetary policy. The July figure aligned with consensus expectations, reinforcing concerns over utilities and input price volatility. (SOURCE: BDLive) |
IDC URGES STEELY RESOLVE TO SAVE AMSA
The Industrial Development Corporation (IDC) has called for broader collaboration to save ArcelorMittal South Africa’s (AMSA’s) long-steel business, warning it cannot carry the burden alone despite a R2.6 billion intervention earlier this year. The rescue package, including a R1.68 billion interest-free loan, prevented immediate shutdown and safeguarded supply to sectors such as automotive. IDC CFO Isaac Malevu confirmed due diligence showed the required support exceeds its capacity, urging strategic equity partners. AMSA signalled it cannot sustain its Newcastle mill beyond September without fresh backing, intensifying pressure on government and industry to secure a long-term solution. |
WESBANK AND TOYOTA PAY R30M PENALTY IN SETTLEMENT
WesBank, Toyota Financial Services South Africa, Toyota Motor Corporation, and related entities will pay a R30 million administrative penalty in a Competition Tribunal settlement, without admitting liability. The case stemmed from allegations that the companies divided the vehicle finance market, preventing WesBank from offering financing directly to customers at authorised Toyota dealerships. Under the settlement, these restrictions will be lifted, allowing WesBank to provide vehicle finance at dealerships. CompCom Commissioner Doris Tshepe noted the move increases customer choice. The settlement concludes all proceedings arising from the 2022 referral of the matter to the Tribunal. (SOURCE: Moneyweb) |
HARMONY SHOOTS OUT THE LIGHTS IN RECORD R74 BILLION REVENUE
Harmony Gold has delivered a record-breaking 2025 financial year, reporting free cash flow of over R11 billion at a 16% margin and a record dividend payout of R2.4 billion. CEO Beyers Nel hailed the 54% growth in free cash flow, driven by strong Mponeng and Moab Khotsong results. Revenue rose 20% to R74 billion, net profit surged 67% to R14.6 billion, and liquidity expanded to R20.9 billion, securing growth funding capacity. (SOURCE: SENS) |
RAINBOW CHICKEN POSTS R15.8 BILLION REVENUE, DECLARES DIVIDEND
Rainbow Chicken Limited posted impressive results for the year ended 29 June, with EPS up 216.3% to 64.04 cents and headline EPS rising 223.6% to 65.57 cents. Revenue grew 9% to R15.8 billion, while EBITDA jumped 66.2% to R1.059 billion. Improved operations, lower input costs, reduced load shedding, and avian flu relief boosted performance. The company’s turnaround strategy, including better feed quality and optimised sales channels, drove growth. Total assets reached R8.54 billion, liabilities R3.90 billion, and the board declared Rainbow’s first dividend of 20 cents per share, payable 29 September 2025. (SOURCE: SENS) |
INTERPOL SMASHES CYBERCRIME, ILLEGAL BITCOIN MINING IN AFRICA
Interpol’s Operation Serengeti 2.0, run from June to August 2025, saw 1 209 cybercriminals arrested across Africa, dismantling 11 432 malicious infrastructures and recovering $97.4 million. In Angola, 25 illegal bitcoin mining centres run by 60 Chinese nationals were shut down, along with 45 illicit power stations and $37 million in seized equipment, now redirected to energy distribution. Zambia saw a $300 million fraud scheme dismantled, with 15 arrests and human trafficking networks disrupted. Côte d’Ivoire police broke up a $1.6 million inheritance scam. Interpol hailed the crackdown as a landmark in cross-border cooperation and victim protection. (SOURCE: Moneyweb) |
US ECONOMY OUTPACES 3% PROJECTIONS
The US economy grew at a 3.3% annualised rate in the second quarter, slightly higher than the initial 3% estimate, driven by stronger business investment and record contributions from trade. Investment rose 5.7%, boosted by transportation equipment and intellectual property. Net exports added nearly five percentage points to GDP, offsetting earlier tariff-related disruptions. Corporate profits climbed 1.7% after a sharp first-quarter drop, while consumer spending rose 1.6%. Despite tariff-driven inflation pressures, the Fed is expected to cut rates in September as jobless claims ease and concerns mount over potential labour market weakness. (SOURCE: Bloomberg) |
GOLD NEARS RECORD HIGH, COPPER RISES ON SOFTER DOLLAR
Gold held steady at $3 415.73 an ounce on Friday, heading for a second weekly gain and nearing April’s record of $3 500. Investor focus is on US inflation data, expected to shape Federal Reserve policy. Fed Governor Christopher Waller signaled support for a September rate cut, with further easing likely, though strong economic growth and Trump’s tariffs cloud the outlook. Copper also climbed, buoyed by resilient US demand and signs of easing pressure in China’s industrial sector. A weaker Dollar has lifted metals broadly, with aluminium, zinc, and nickel advancing as traders bet on continued price strength. (SOURCE: Bloomberg) |
|
|
Love is like the measles; we all have to go through it.
Jerome K. Jerome |
|
|
|
| Dollar | R17.71 | - 0.07% | | Pound | R23.90 | - 0.09% | | Euro | R20.66 | - 0.02% | | Yen | 0.120451 |
| | Yuan | R2.48 | - 0.04% | | Bitcoin | $ 111 030.90
| - 0.88% |
These rates are correct at time of going to press. | | Platinum | $ 1 353.95
| - 0.33% | | Gold | $ 3 412.03
| - 0.11% | | Oil | $ 67.72 | + 0.24% | | All Share | 101 859.71
| - 0.14% | | Repo | 7.00 | | | Prime | 10.50 | |
|
|
|
|
|
.jpg)
