| IS AI BILLIONAIRE-GREED DRIVING HUMANITY TO THE PRECIPICE? |
| CHAMBER STEPPING UP TO REVIVE LEATHER, FOOTWEAR SECTOR |
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Artisan-in-Residence Siyanda Dlamini in the newly-established Leather Collective that currently supports three entrepreneurs.
The Pietermaritzburg and Midlands Chamber of Business is spearheading the revival of the city's footwear and leather sector through the new Leather Collective, housed within the PMCB Trade Hub. The initiative brings an established base of products, skills and experience into the new programme, kickstarted by the transfer of the CrissCross Leather Unit to the PMCB.
The CrissCross project originated as a local enterprise development project supported by Natal Tanning Extracts, initially under the Esigo brand before becoming a product category within CrissCross.
The project has trained 23 artisans to work with vegetable-tanned leather, either incorporating it into existing products or producing leather goods from scratch. This provides the Leather Collective with a foundation of practical skills on which to build, said Trade Hub Manager Lucrisha Polton.
Operating from the Chamber’s premises, the facility currently supports three entrepreneurs with Siyanda Dlamini serving as Artisan-in-Residence. Participants will have access to workspace and equipment, alongside business development, product innovation, mentoring, skills training, market access and export-readiness support, says Polton.
"The immediate priority is developing a strong, viable artisanal community and pipeline of skilled makers, before expanding into national and international markets," said Polton
A range of handcrafted leather products is available to browse and purchase at the PMCB Leather Collective, showcasing unique, locally crafted goods. To view the products currently available, see here.
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| FREE CHECK ON BUSINESS BOTTLENECKS AND UNTAPPED OPPORTUNITIES |
As part of the Pietermaritzburg and Midlands Chamber of Business Trade Hub's drive to strengthen and grow local businesses, companies are invited to take a fresh look at bottlenecks and untapped opportunities.
The free Business Gap Health Check offers a practical starting point, giving businesses a structured snapshot of their strengths, weaknesses, challenges and potential gaps. GrowthWheel, the on-site and digital business advisory framework, takes the process further, providing a practical framework to explore priorities, identify areas requiring attention and build a focused growth plan.
New GrowthWheel Online improvements make that follow-through even easier. AI-generated Action Plans turn meeting notes into practical next steps, while the Resource Partners CRM helps manage important business relationships. The 360° Business Canvas can now be included in downloadable Growth Plans, alongside a simpler login experience. For a free Business Gap Health Check, contact trademanager@pmcb.org.za.
SEE BELOW: New R500 million fund for start-ups, Reserve Bank bursary applications |
1918: The dreaded Spanish Flu was first diagnosed in South Africa in Durban.
Elsewhere, in 1959, the Soviet space probe Luna 2 was the first man-made spacecraft to land on the moon.
Microsoft marked the millennium with the launch of 2000 Windows ME, the last of the operating systems of the Windows 9x series. |
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5-YEAR DELAYS AHEAD ON MARIANNHILL-KEY RIDGE N3 UPGRADE
Motorists using the N3 should brace for five years of disruption as construction gets under way on SANRAL’s R6 billion upgrade between the Mariannhill Toll Plaza and Key Ridge. The 11.1km project, expected to take 60 months, will widen and rehabilitate the carriageways, add two launched viaduct bridges, upgrade drainage, retaining walls, lighting and signage, and improve safety infrastructure.
Speed limits will be reduced to 40km/h for heavy vehicles and 60km/h for light vehicles. The project is another major step in upgrading the strategic Durban–Johannesburg freight corridor.
The upgraded N3 sections between Ashburton and Cato Ridge offer motorists a glimpse of what the future corridor could look like. But getting there will mean enduring more construction, delays and inconvenience. SANRAL says diversions via the M13, service roads and local routes will be used when necessary, while two-way traffic will be maintained during the December/January shutdown. (SOURCE: FreightNews)
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... AS DURBAN PORT STRUGGLES TO HANDLE TRUCK TRAFFIC
The Durban Gateway Terminal (DGT) is implementing short- and long-term measures to address operational inefficiencies that have disrupted freight movements, according to the South African Freight and Logistics Association and Road Freight Association. DGT has accelerated maintenance of machinery, brought in generators to mitigate power disruptions and waived terminal storage charges while current challenges persist. It has also acknowledged problems with its slot-booking system and is developing a solution for stakeholder input. The Road Freight Association says transporters are carrying the cost of inefficiencies, with trucks queuing and fleets standing without bookings. Industry bodies have offered expertise to a joint recovery task team involving DGT, Transnet and government. (SOURCE: Engineering News)
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... AND PRIVATE RAIL OPERATOR GETS READY TO USHER NEW ERA
Rail services company Traxtion plans to become South Africa’s first private freight rail operator to adopt the Luxembourg Rail Protocol framework, applying for internationally recognised URVIS identifiers for its R3.4 billion rolling stock portfolio. The protocol, effective in South Africa since May 2025, provides a standardised legal framework for protecting lenders’ and lessors’ interests in financed railway equipment. Traxtion says the identifiers will improve asset traceability and transparency while reducing financing uncertainty, potentially making rail investment more attractive to local and international capital (SOURECE: Engineering News)
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RISING DEFAULTS UNDERSCORE HOUSEHOLD AFFORDABILITY CRISIS
South Africans are sinking deeper into debt as more consumers struggle to keep up with repayments, according to the latest Credit Stress Report from Eighty20 and Xpert Decision Systems. The report found that 41.8% of credit-active consumers were in default on at least one loan during the second quarter of 2026, with the number of defaulters rising by nearly 208 000. Total open loans increased by 690 000 to 56.3 million, while outstanding balances reached R2.7 trillion. Overdue balances jumped R8.3 billion during the quarter to R233 billion – equivalent to 8.6% of total outstanding debt. Women accounted for 58% of credit-active consumers but held 46% of outstanding credit, with greater exposure to retail lending. (SOURCE: Moneyweb) |
MANUFACTURING PICKS UP MOMENTUM IN JULY
South Africa’s manufacturing production increased 1.1% year-on-year in July, with food and beverages and petroleum, chemicals, rubber and plastics providing the biggest boosts, Stats SA reports. Food and beverage output rose 4.1%, contributing one percentage point, while petroleum, chemical products, rubber and plastics increased 3.2%, adding 0.6 percentage points. Wood and wood products, paper, publishing and printing was the biggest drag, falling 7.3%. Seasonally adjusted production climbed 2.2% month-on-month, following increases of 0.8% in June and 1.2% in May. Production rose 1% in the three months to July, while manufacturing sales jumped 3.9% month-on-month. (SOURCE: Engineering News) |
EASYEQUITIES, SATRIX CUSTOMERS CAUGHT IN DATA BREACH
EasyEquities and Satrix customers may have had personal information exposed following a cybersecurity incident at RelyComply, a third-party provider used for regulatory verification checks. Both platforms said their systems were not compromised and there was no impact on account security, investments or customer funds. The investigation is continuing, with final findings still outstanding. EasyEquities, which has nearly 2.9 million users, urged customers to remain alert for unsolicited emails, calls or messages seeking personal or account information and warned against suspicious links. The incident highlights growing third-party cybersecurity risks in financial services, following Standard Bank’s disclosure of a separate data breach earlier this year. (SOURCE: Moneyweb)
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AGOA EXTENSION FAILS TO DAMPEN EXPORT UNCERTAINTY
South Africa’s agricultural exporters have welcomed the extension of the African Growth and Opportunity Act (Agoa) to 2028, but say it offers little certainty amid continuing tariff and diplomatic risks. A new 12.5% US tariff on a wide range of South African imports, introduced in July, remains a major concern. Citrus growers warn uncertainty could undermine investment and long-term supply relationships, although the US accounts for only about 5% of South Africa’s citrus exports. Industry representatives stress predictable market access is crucial for farmers making long-term investment decisions. Poultry producers say future negotiations must deliver meaningful benefits for South Africa in return for concessions. (SOURCE: FreightNews)
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NIGERIA BOYCOTTS SOUTH AFRICA OVER XENOPHOBIA
Nigeria has suspended official travel by lawmakers to South Africa and ordered a boycott of legislative events hosted there, citing ongoing xenophobic attacks against Nigerians and other African nationals. The decision comes days before the 69th Commonwealth Parliamentary Conference in Cape Town, running from September 13 to 19. National Assembly clerk Kamoru Ogunlana said the boycott responds to reports of violence, intimidation, property destruction and hostility targeting Nigerians and other Africans. The move increases diplomatic pressure ahead of the parliamentary gathering. Nigeria and South Africa have previously clashed over xenophobic violence, despite strong economic, political and people-to-people ties between the two countries. (SOURCE: Bloomberg)
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BRICS WANTS MORE SAY IN GLOBAL FINANCE
BRICS finance ministers and central bank governors are renewing calls for urgent reform of the IMF and World Bank, arguing that emerging and developing economies deserve greater influence. In a joint statement, they called for increased quota and voting shares, alongside stronger representation in institutional leadership. The officials said the Bretton Woods institutions must become more inclusive, representative, accountable and responsive to today’s global economy. They also criticised unilateral tariffs and protectionism, warning that trade fragmentation, geopolitical tensions, debt, inflation and policy uncertainty threaten growth. BRICS members further agreed to explore faster, cheaper cross-border payments and greater use of local currencies. (SOURCE: Bloomberg)
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EUROPEAN BANK HIKES INTEREST RATE ON INFLATION RISKS
The European Central Bank has raised its deposit rate by 25 basis points to 2.5%, its second increase in three months, as an energy shock linked to the Iran war drives eurozone inflation higher. Inflation reached 3.3% in August, its highest since September 2023, largely because energy inflation surged to 14.3%. Brent crude has again topped $100 a barrel as fighting disrupts supplies around the Strait of Hormuz. However, core inflation eased to 2.4%, while services inflation fell to 3%. The ECB expects headline inflation to average 3% this year, with elevated inflation persisting through 2027. (SOURCE: 1440
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OIL PRICES NEAR $108 A BARREL AS MIDEAST CRISIS SPREADS
Brent crude traded near $108 a barrel as escalating fighting involving Yemen’s Houthis and Saudi-backed forces heightened fears of further Middle East supply disruptions. Brent for November delivery was little changed at $107.61 in Singapore after surging more than 6% in the previous session, putting it on track for its biggest weekly gain since July. West Texas Intermediate hovered around $102. Concerns are mounting over shipping through the strategic Bab al-Mandeb and Strait of Hormuz, while attacks on energy facilities and vessels add to risks. Brent has risen almost 80% this year, with depleted inventories and recovering Chinese demand adding pressure. (SOURCE: Bloomberg)
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| BURSARIES, FUNDING OPPORTUNITIES AND OTHER INCENTIVES |
NEW R500 MILLION FUND TO PLUG AFRICA’S START-UP GAP
Grindstone Ventures has launched a R500 million fund targeting high-growth, technology-enabled African businesses from Seed through Series A. The fund aims to address the “missing middle” between early commercial validation and institutional-scale investment, primarily backing South African businesses while selectively investing elsewhere in Africa. With a planned portfolio of 15 to 20 companies, it will provide follow-on funding and hands-on support in strategy, governance, growth and market access. The fund also targets meaningful exits and greater inclusion, aspiring for at least 50% of portfolio companies to be black-owned and greater gender balance. Click here for more information.
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LAST CALL: RESERVE BANK 2027 BURSARY APPLICATIONS
Applications are open for the South African Reserve Bank’s 2027 external bursary scheme, supporting full-time undergraduate degree studies at recognised South African universities. Applicants must be South African citizens under 30, entering first year, with at least a 70% Matric June-exam average. Financial need and disadvantaged background are also required. Applications close on 30 September 2026. Apply online here or download and complete the application form.
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Knowing is not understanding. There is a great difference between knowing and understanding: you can know a lot about something and not really understand it.
Charles Kettering |
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