| SUPPLY CHAINS KEEP CITY FOOD PRICES LOWEST IN COUNTRY |
Pietermaritzburg’s relative price stability reflects efficient regional food supply chains and competitive retail pricing, offering some relief amid national cost-of-living pressures. According to the October 2025 Household Affordability Index by the Pietermaritzburg Economic Justice Dignity Group, the city recorded the lowest average Household Food Basket cost in South Africa at R5 111.88, well below the national average of R5 440.60.
The basket fell by R48.06 (-0.9%) month-on-month but rose by R109.22 (2.2%) year-on-year, showing moderate long-term inflation. Of the 44 tracked food items, 26 increased and 18 decreased in price. White sugar, frozen chicken portions, tomatoes, butternut, and oranges were the biggest drivers of rising costs, while onions, sugar beans, and maize meal (except in Johannesburg and Durban) helped soften overall increases, highlighting the region’s resilient food ecosystem.
The weighted survey tracks prices at shops most frequented by low-income consumers. For a closer look at prices in Pietermaritzburg and how they compare with other centres, click here and scroll to page 9.
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| PUTTING DOWN ROOTS TO CELEBRATE ENVIRONMENTAL STEWARDSHIP |
(ltr) Teacher and Amathuba Foundation mentor Richard Robertson, Singatha Makhaye (Grade 4 scholarship pupil), Paula Greyling (Safire Scholarship Coordinator) and Hlelolwenkosi Mahlaba (Grade 5 scholarship pupil).
Two Pietermaritzburg and Midlands Chamber of Business members - Safire Insurance and Cordwalles Preparatory School - in association with the Amathuba Foundation recently planted 60 indigenous trees to mark Arbour Month, typically celebrated in September.
The occasion saw 95 staff members from the Safire Group, Shackleton Risk Management, and Brokoop Insurance Brokers getting their hands dirty under the guidance of teacher and mentor Richard Robertson and with the help from Cordwalles pupils supported by Safire’s scholarship programme. Safire CEO Pierre Bekker said the tree-planting endeavour aligns the insurer’s roots in timber and its long-term commitment to education, community, and environmental stewardship.
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| READERS POLL: IS ONLINE GAMBLING OUT OF CONTROL? |
Pick n Pay CEO Sean Summers added his voice to the growing clamour against online gambling, warning that it is "hollowing out the middle class" and worsening poverty across communities. The numbers are staggering - more R1.1 trillion was spent on betting activities during the 2024/25 financial year, an increase of R400 billion over the previous year, and fuelled largely by mobile betting apps designed to turn occasional punters into gambling addicts. To fight the scourge, critics call for an unprecedented ban on all gambling advertisements. The question is: Do you think online gambling is a problem? Please vote here, we’ll publish the results tomorrow.
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1996: Former state assassin Eugene de Kock was jailed for more than 200 years.
Elsewhere, in 1961, the biggest bomb in history was detonated when the Soviet Union set off Tsar Bomba in the Arctic Circle. The explosion of the 57 megatons nuclear bomb at a height of 4 000 metres was visible more than 1 000 km away. |
SARS COLLECTS R18 BILLION MORE THAN ESTIMATED
South Africa’s revenue collection has surpassed estimates, with the South African Revenue Service (SARS) reporting an additional R18 billion in tax receipts. The strong performance was partly driven by two-pot retirement fund withdrawals, which contributed R6 billion to government coffers. Analysts say the higher-than-expected intake provides fiscal breathing room ahead of November’s Medium-Term Budget Policy Statement, offering potential for increased public spending or reduced borrowing.
Despite economic pressures, SARS’s ability to exceed projections underscores improved compliance and effective collection strategies. The extra revenue also gives policymakers flexibility to address inflationary pressures and invest in key sectors supporting growth and job creation across the country. (SOURCE: BDLive)
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HOUSEHOLD CREDIT SLUMP AS COPRORATES PILE ON R3.2 BILLION DEBT
South Africa’s private sector credit growth in September was largely powered by corporate borrowing, while household credit slowed. Total credit extended reached R5.12 trillion, a 6% year-on-year increase, with corporate loans rising 9% to R3.2 trillion. Household credit, in contrast, expanded only 2% to R1.92 trillion, reflecting tighter consumer budgets amid rising inflation and interest rates. Credit for mortgages grew 3%, while unsecured lending was flat, highlighting consumer caution. Analysts say the trend underscores business investment as the primary driver of lending growth, while weaker household demand may constrain retail spending. (SOURCE: BDLive) |
BIG FINTECH FIRMS TOE LINE AS FUNERAL POLICIES TOP COMPLAINTS
South Africa’s largest financial service providers are resolving more consumer issues internally, leading to a 32% drop in complaints to the Fais Ombud over the past three years. However, overall complaints rose to 15 404 in 2024/25, nearly 5 000 more than the previous year, largely due to funeral policy disputes, which made up 52.8% of all cases. Consumers received R31.7 million in settlements, down from R39.5 million previously. The average resolution time improved to 59 working days, reflecting quicker outcomes. Meanwhile, the Ombud Council reported digital banking fraud now accounts for 30% of National Financial Ombud Scheme complaints, signalling growing cyber risks. (SOURCE: Moneyweb) |
… AS TOP ASSET MANAGERS FAIL CLIMATE, BIODIVERSITY, SOCIAL TESTS
South Africa’s biggest asset managers are failing to protect retirement savings from climate, biodiversity, and social risks, according to Just Share’s 2025 Responsible Investment Benchmark. Assessing 20 firms, the report found 85% scored below 25%, earning E or F grades. Ninety One topped locals with 30% (D grade), while the Public Investment Corporation scored just 8% (E grade). Only 15% of managers have net-zero targets, and 65% impose no fossil fuel restrictions. Biodiversity oversight is poor, with 90% missing key standards. Analyst Karishma Bhoolia warned these failures endanger long-term investment stability and South Africa’s just transition. (SOURCE: Engineering News)
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R75 BILLION HYBRID PLAN TO POWER UP 1.6 MILLION RURAL HOUSEHOLDS
The Department of Electricity and Energy has unveiled plans to repurpose the Integrated National Electrification Programme (INEP) to connect 1.6 million households by 2030 at a cost of R75 billion. The hybrid model combines grid and microgrid systems, including entry-level solar-battery kits for remote homes, larger rural systems for lighting and refrigeration, and full microgrids supporting small businesses. The department is exploring a blended finance model with the DBSA to attract private capital. Access to electricity is being prioritised as a basic right, with proposals to expand free basic electricity and introduce tiered tariffs for affordability. (SOURCE: Engineering News)
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IN KZN 1: SOUTHERN SUN SIGNS 50-YEAR GOLDEN MILE LEASES
Southern Sun has finalised 50-year lease agreements with the eThekwini Municipality for its landmark Elangeni and Maharani hotels on Durban’s Golden Mile. The deal unlocks a R1 billion investment to refurbish the 734-room beachfront complex and other nearby hotels, strengthening Durban’s tourism appeal. CEO Marcel von Aulock said the redevelopment marks a strategic partnership to revitalise the promenade and boost confidence in the city’s hospitality industry. Despite tough trading conditions, Southern Sun hotels on the beachfront have maintained over 75% occupancy, reflecting renewed optimism in Durban’s economic recovery and tourism-driven urban regeneration plans. (SOURCE: Moneyweb)
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IN KZN 2: R1.2 BILLION BOOST FOR RICHARDS BAY TITANIUM PLANT
The African Development Bank (AfDB) has approved over R1.2 billion in financing for Nyanza Light Metals’ titanium dioxide pigment plant in Richards Bay. The project, located in the Richards Bay Industrial Development Zone, will produce 80 000 tonnes annually, reducing reliance on imported pigments. The funding includes R400 million from the Africa Growing Together Fund, co-financed by China’s People’s Bank. The project will create 2 400 construction jobs and 850 permanent positions, with strong inclusion targets for women and youth. AfDB vice-president Solomon Quaynor said the investment marks a key step in Africa’s mineral beneficiation and industrial transformation.(SOURCE: Moneyweb)
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IN KZN 3: BEE PLAYERS CRY FOUL OVER DURBAN FUEL LEASES
Transport Minister Barbara Creecy is under fire from BEE fuel sector players after renewing 25-year leases with global oil companies at Durban’s Transnet Island View Precinct, which handles 70% of South Africa’s fuel imports. Critics argue the process, made under Section 79 of the National Ports Act, unfairly excluded black traders and undermined transformation goals. Ministers Gwede Mantashe and portfolio committee chairs have joined calls for further engagement. Creecy insists the renewals ensure fuel supply security and long-term investment, while the Central Energy Fund’s 15% stake aims to give emerging black businesses access to port infrastructure. (SOURCE: Moneyweb)
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RAMAPHOSA UPBEAT ON TARIFF TALKS ON SWISS VISIT
President Cyril Ramaphosa says trade negotiations with the United States have progressed to the stage where discussions are now “based on text,” signalling concrete movement toward an agreement. Speaking in Switzerland during a state visit, Ramaphosa expressed optimism for a deal “soon,” though he avoided setting a deadline. South Africa hopes to ease tariffs imposed by President Donald Trump in August, threatening jobs in automotive and citrus exports. Bilateral trade with Switzerland, worth R134 billion, also remains strong, with gold, platinum, and wine leading exports. Ramaphosa and Swiss President Karin Keller-Sutter reaffirmed plans to modernise an existing free-trade agreement. (SOURCE: Bloomberg)
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FED CUTS RATES AGAIN AS JOB MARKET SOFTENS
The US Federal Reserve delivered a second straight interest rate cut, lowering the federal funds rate by 25 basis points to 3.75%–4%, in response to a cooling labour market. The FOMC voted 10–2, with Governor Stephen Miran favouring a deeper cut and Kansas City Fed’s Jeff Schmid opposing any move. The Fed also said it will halt balance sheet reductions on 1 December, ending a $2 trillion asset runoff. Chair Jerome Powell acknowledged that employment could weaken further, while inflation remains above the 2% target, complicating the path toward policy normalisation amid limited economic data. (SOURCE: Bloomberg) |
170 CM RAIN IN 24 HOURS DEEPENS VIETNAM'S CLIMATE MISERY
Central Vietnam was hit by catastrophic flooding after Hue recorded over 1 700 mm of rain in 24 hours - just below the global record of 1 825 mm in La Réunion in 1966. More than 100 000 homes were damaged, 21 000 residents evacuated, and 200 000 households were affected as trains services were suspended. Vietnam has endured 12 major storms this year, leaving 241 dead and causing $2 billion (about R34.4 billion) in economic losses due to worsening climate impacts. (SOURCE: Bloomberg) |
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In looking for people to hire, look for three qualities: integrity, intelligence, and energy.
Warren Buffett |
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| Dollar | R17.18 | - 0.01% | | Pound | R22.17 | - 0.14% | | Euro | R19.98 | - 0.25% | | Yen | 0.112046 |
| | Yuan | R2.42 | + 0.09% | | Bitcoin | $ 110 170.21
| - 0.26% |
These rates are correct at time of going to press. | | Platinum | $ 1 578.60 | + 0.25% | | Gold | $ 3 970.16
| + 1.03% | | Oil | $ 63.88
| - 0.53% | | All Share | 110 371.27
| + 0.50% | | Repo | 7.00 | | | Prime | 10.50 | |
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