| DODGING BULLETS IS THE PRICE OF POOR GOVERNANCE |
Consensus among political and social commentators after yesterday’s protest actions against illegal immigration was that South Africa dodged a bullet. The relatively peaceful outcome was attributed partly to President Cyril Ramaphosa’s personal engagement with traditional leaders, community representatives and protest organisers to prevent widespread violence. However, no amount of saccharine-laced reassurances can mask the brutal reality of fear and the trauma of displacement faced by thousands of migrants fleeing South Africa. The number of affected foreigners, upwards of 25 000 being repatriated and almost 60 000 deported, not only appears to vindicate the populist clarion call by anti-immigration agitators blaming foreigners for unemployment, weak services and insecurity, but also speaks of deeper structural drivers of inequality in work, spending, production and broader economic change, in others words, a legacy of poor governance.
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| MANAGING INFORMATION FLOW FOR TARGETED COMMUNICATION OUTCOMES |
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(ltr) Tim Naidoo (Diya Valves), Dirk Calitz (Outdoor Educators), Nikki Sinclair (So Much More) and Grant Edkins (iThemba Projects).
Despite a depleted Bizz-Link forum attendance amid uncertainty linked to 30 June anti-immigrant protests, participants at the Pietermaritzburg and Midlands Chamber of Business yesterday engaged in wide-ranging discussions on the media's evolving role, and maximising exposure. Conversations focused on different manifestations of media and how information can be harnessed more effectively to drive publicity and communication outcomes.
Artificial intelligence featured prominently throughout the session, with attendees debating its growing influence on content creation, business communication and information processing. The discussions were interspersed with humour and laughter, as delegates reflected on both the opportunities and challenges presented by rapidly changing digital and media environments. They also decided that Nikki Sinclair of So Much More was the deserved winner of the coveted Bizz-Link Bee, Buzzy.
See below: Ford rehires 300 engineers after epic AI fails |
| SMME CALL TO JOIN WASTE ECONOMY DIGITAL DATABASE |
The Department of Forestry, Fisheries and the Environment is urging waste-sector entrepreneurs to urgently register on the Waste Economy Enterprises Repository of South Africa (WEERSA), a new digital database designed to improve coordination, funding access and policy planning. The platform will map micro, small and medium enterprises operating in the circular economy and provide a central source of verified sector data. Only businesses registered with the Companies and Intellectual Property Commission are eligible, as government seeks to strengthen inclusion, growth and efficiency in the expanding waste economy sector. Here's the sign-up link.
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1968: South Africa signed the Nuclear Non-Proliferation Treaty along with the world’s nuclear powers and 57 non-nuclear nations.
Elsewhere, in 1908, Morse code SOS was adopted as the International Distress Signal.
Know any chicken jokes? Today is International Chicken Wing Day and International Joke Day. It's also International Reggae Day!
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FUEL USERS TOAST JULY DROP IN PETROL, DIESEL PRICES
Motorists will pay less for fuel from today, 1 July, after the Department of Petroleum and Mineral Resources announced petrol price cuts of about R2 per litre and diesel reductions of up to R3.59 per litre. Lower international oil prices and a stronger Rand drove the decreases, following easing tensions in the Middle East.
However, the savings were significantly reduced after the National Treasury fully reinstated the temporary fuel levy relief introduced earlier. Without the levy restoration, petrol prices would have fallen by around R3 per litre. Illuminating paraffin also becomes cheaper, while LPG prices in Gauteng rise by 16 cents per kilogram. (SOURCE: Moneyweb)
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RAND TRADING UP 20% ON MIDEAST CURRENCY VOLATILITY
Trading in the Rand surged during Q1 2026 as the Middle East conflict fuelled currency market volatility, the South African Reserve Bank says. Average daily Rand transactions climbed about 20%, with trading against the Rand increasing from $11.4 billion (about R188 billion) to $13.7 billion, while third-currency transactions rose from $4.6 billion to $5.3 billion. Despite initial pressure, the Rand's real effective exchange rate strengthened 3.5% over the year to March 2026. The Reserve Bank also reported a R86.7 billion primary budget surplus and said foreign investors returned to the local bond market after the initial war-driven sell-off. (SOURCE: Bloomberg)
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... AND SARB HEAVES SIGH OF RELIEF AT LIMITED IMPACT
The South African Reserve Bank says the recent Middle East conflict rattled global financial markets but had only a limited impact on the local economy. South Africa's economy grew 0.1% in Q1 2026, supported by a 15.8% surge in agriculture as higher field crops and horticultural production boosted output. Mining also contributed positively, while manufacturing contracted 2.0% as weak domestic and export demand continued to weigh on production. The Reserve Bank said oil price volatility, currency swings and market uncertainty linked to the conflict did not significantly derail economic activity. However, it warned that persistent geopolitical tensions remain a risk to growth, inflation and financial market stability. (SOURCE: BDLive)
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DOMESTIC BANKS CLEARED IN RAND MANIPULATION CASE
South Africa's major banks have been cleared of allegations they manipulated the rand after the Competition Tribunal ruled there was insufficient evidence against them. Standard Bank, Nedbank and FirstRand have been removed from the long-running case, leaving litigation focused on a smaller group of international banks. The tribunal found no basis to proceed against the local lenders, significantly narrowing one of the country's biggest competition matters. The case stems from claims that traders colluded to influence the rand-dollar exchange rate between 2007 and 2013. Proceedings against the remaining foreign banks are expected to continue. (SOURCE: BDLive)
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FULL-STEAM AARTO ROLLOUT AFTER SALGA COURT SETBACK
Phase 2 of the national rollout of the Administrative Adjudication of Road Traffic Offences (AARTO) Act will proceed today after the Gauteng High Court in Pretoria dismissed the South African Local Government Association's urgent application to halt implementation. The court ruled the matter lacked urgency and did not consider the merits of Salga's challenge, which will be heard later. Salga argues the AARTO funding model is unsustainable for cash-strapped municipalities and imposes additional responsibilities without adequate financial support. Despite the setback, the association says it will continue pursuing its legal challenge while backing improved road safety. (SOURCE: FreightNews)
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HILLSIDE SMELTER TO CHANGE HANDS IN SOUTH32-ALCOA DEAL
The Hillside Aluminium smelter in Richards Bay is among key assets South32 will sell to US-based Alcoa Corporation in a deal worth up to US$5.6 billion (about R100 billion). Alcoa, headquartered in Pittsburgh, Pennsylvania, will also acquire Worsley Alumina in Australia and Brazilian operations, while Mozambique’s Mozal smelter is excluded. South32 will receive US$3.1 billion in cash, US$1 billion in Alcoa shares, and Alcoa will assume US$750 million in debt and leases. The group expects US$125 million in annual savings and an initial US$500 million shareholder payout after completion. (SOURCE: Engineering News)
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GROUP FIVE RESCUE DELIVERS RARE SHAREHOLDER BONUS
Former construction giant Group Five has emerged from six years of business rescue with all creditors paid or provided for in full, raising the rare prospect of a shareholder payout. When the company entered rescue in 2019, it faced about R7 billion in creditor and contingent exposures, 2,300 creditors, 119 projects and nearly 6,000 employees. Independent estimates had projected secured creditors would recover only 65 cents in the rand and concurrent creditors 3.4 cents. Instead, both groups will receive 100 cents in the Rand, while fewer than 15% of employees were retrenched. (SOURCE: News24)
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MYSTERY DIS-CHEM EXEC'S R29 MILLION TOPS PAY RANKINGS
Dis-Chem's highest-paid executive is not chief executive Ivan Saltzman but a senior executive whose total remuneration reached R29 million during the latest financial year. The company's annual report shows the top earner received the largest package through a combination of salary, bonuses and long-term incentives, exceeding the CEO's total pay. The disclosure highlights the growing role of performance-linked remuneration in attracting and retaining key executives. Dis-Chem reported continued earnings growth despite a challenging retail environment, with shareholders expected to scrutinise executive pay closely at the company's upcoming annual general meeting. (SOURCE: News24)
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VODACOM'S SAFARICOM CONTROL TO EXPAND EAST AFRICAN FOOTPRINT
Vodacom has cleared the final legal hurdle to take control of Safaricom after all conditions precedent to the transaction were fulfilled or waived. The deal strengthens Vodacom's expansion across Africa and gives it a controlling stake in Kenya's largest telecommunications operator, which also owns the widely used M-Pesa mobile money platform. The acquisition is expected to deepen Vodacom's presence in East Africa and support growth in digital financial services. The company said completing the transaction marks a significant milestone in its long-term continental strategy, following years of regulatory approvals and negotiations. (SOURCE: BDLive)
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TOUGH TIMES FOR BITCOIN AS INVESTORS PULL R68 BILLION
Bitcoin is under growing pressure as two of its biggest institutional sources of demand weaken simultaneously. Investors have withdrawn more than $4.1 billion (about R68 billion) from US-listed spot Bitcoin exchange-traded funds in June, the largest monthly outflow since their launch in 2024, with BlackRock's IBIT accounting for about $3 billion. Bitcoin has slumped more than 18% this month to around $60 000, its worst monthly performance since June 2022. Meanwhile, major corporate buyer Strategy Inc. is restructuring its financing model, raising concerns that a key source of institutional demand may no longer support the cryptocurrency market. (SOURCE: Bloomberg)
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FORD REHIRES 300 ENGINEERS AFTER EPIC AI SAFETY FAILS
Ford has rehired more than 300 veteran quality engineers after admitting artificial intelligence failed to match the skills and judgement of experienced staff. The automaker had deployed AI across its factories, including 900 cameras to detect production defects, but executives said the systems were only as effective as the knowledge used to train them. Veteran inspectors have returned to improve AI models and mentor younger employees. Ford says the renewed focus on human expertise has helped restore vehicle quality, with the company reclaiming the top position in the US JD Power Initial Quality Study for the first time since 2010. (SOURCE: BBC)
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BUSINESS DIAGNOSTIC WORKSHOP
SO POPULAR WE HAD TO BRING IT BACK
Unlock Your Business Potential with the PMCB Trade Hub
The PMCB Trade Hub will be hosting a Business Diagnostic Session, where we will use the internationally acclaimed GrowthWheel® platform to identify the gaps and challenges that may be preventing your business from reaching its full potential.
This interactive session will provide valuable insights into key areas of your business, helping you to:
• Identify growth opportunities
• Uncover operational weaknesses
• Strengthen your business strategy
• Develop practical action plans for sustainable success
Whether you are a start-up or an established business, this diagnostic session will equip you with the tools and direction needed to move your business forward with confidence.
Date: 8 July 2026
Time: 9 - 10 am
Venue: PMCB Trade Hub - 1 Parkhaven, 51 Macleroy Road, Pietermaritzburg.
Cost: PMCB Members - free, Non-members - R250 |
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When the norm is decency, other virtues can thrive: integrity, honesty, compassion, kindness, and trust.
Raja Krishnamoorthi |
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| Dollar | R16.43 | - 0.28% | | Pound | R21.75 | - 0.26% | | Euro | R18.72
| - 0.04% | | Yen | 0.100878 |
| | Yuan | R2.42
| - 0.32% | | Bitcoin | $ 58 650.43
| + 0.22% |
These rates are correct at time of going to press. | | Platinum | $ 1 545.18 | - 0.95% | | Gold | $ 3 977.41 | - 0.76% | | Oil | $ 72.94
| - 0.08% | | All Share | 109 418.16
| - 0.81% | | Repo | 7.00 | | | Prime | 10.50 | |
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