| MINI-BUDGET MILESTONES HERALD REFRESHING REALITY |
We have every right to question the calibre of South African politicians, and every reason to be thankful for the leadership of SARB Governor Lesetja Kganyago and Finance Minister Enoch Gondangwana in the turbulence of the coalition government. Forging a 3% inflation target, no VAT hikes in the foreseeable future and hints of a credit uprating (even the Rand is having a moment) are among the outcomes of Gondongwana's mini-budget yesterday in the ultimate quest to lift South Africa's anaemic economc growth. These efforts are beholden by global dynamics, partly anyway, and could do with fewer falsehoods by a hostile administration intent on sowing hate and division back in the US of A and elsewhere.
For more about the MTBPS and other business news, see below. On that score, we’re inviting readers to air their views on yesterday’s mini-budget, any other topic in today’s edition of eBizBlitz, or an issue you're feeling strongly about. Scroll down to the What Is On Your Mind? section.
|
| OK GROCER, OK LIQUOR GET READY TO ANCHOR VICTORIA CENTRE |
The impending opening of OK Liquor and OK Grocer outlets (shown in red) will strengthen the appeal of Victoria Centre. (Image from website)
Tenants at the Victoria Centre are relieved that the vacant spaces left in the wake of Pick n Pay’s departure in April, are being fitted out for an OK Grocer and OK Liquor outlet. While workmen are working flat out to meet a 25 November inception deadline for the liquor outlet, an opening date for OK Grocer will be announced later.
The OK Grocer will be the first in Pietermaritzburg and complement the network of convenience-style Minimark and Express brands under the OK umbrella. It will also enhance the appeal of the centre already anchored by Virgin Active and Clicks, according to its website. The centre is owned by JSE-listed property fund Vukile and managed by Excellerate.
|
| DRAKENSBERG BOYS TO VOW KZN WITH NOËL TOUR |
| The Drakensberg Boys Choir, a member of the Pietermaritzburg and Midlands Chamber of Business, will capture the spirit of the festive season with its Noël Tour 2025: The Promise of Light. The two-part programme features a selection of classical works and enhanced by a selection of vibrant African-inspired music that blends sacred reflection with joyful celebration. The tour from 22-30 November takes in performances in Balgowan, Greytown, Newcastle, Richards Bay, Ballito, and Kloof. For more information, and to book, see the website here. |
1970: Maria Groesbeek was hanged for murdering her husband Christian Buys by poisoning him.
Elsewhere, on this day in 2015, Islamic terrorists staged coordinated attacks in Paris that killed more than 130 people.
Make the most of today on World Quality Day and World Kindness Day.
|
NO MEDICAL AID CREDIT CUTS ON MY WATCH, SAYS GODONGWANE
Finance Minister Enoch Godongwana has strongly criticised proposals to remove medical-aid tax credits, calling it an “attack on the middle class.” The minister warned that scrapping these credits would increase healthcare costs for millions of South Africans, particularly those relying on private medical schemes. He argued that such a move would disproportionately affect middle-income earners, reducing disposable income and placing additional pressure on household budgets.
Godongwana’s comments come amid discussions on tax reforms aimed at raising government revenue. Analysts note that eliminating medical-aid credits could spark public backlash and exacerbate inequalities in healthcare access, while the minister reiterated that preserving these incentives is crucial for financial relief and supporting broader social stability. (SOURCE: BDLive)
|
TREASURY ON TRACK TO BURY ALMOST 9 000 GHOST WORKERS FOREVER.
National Treasury’s new Targeted and Responsible Savings (Tars) initiative has flagged 8 854 suspected ghost workers across government departments. The anomalies include payments to inactive employees, duplicate salaries across departments, and irregular bank accounts. Treasury Director-General Duncan Pieterse said the programme is in early stages, making it difficult to quantify the total fiscal loss. The initiative, outlined in the 2025 Medium-Term Budget Policy Statement, forms part of wider reforms to cut waste and improve efficiency. Finance Minister Enoch Godongwana said Tars could generate medium-term savings of R6.7 billion and redirect funds from underperforming programmes to critical public service priorities. (SOURCE: Moneyweb)
|
R8 BILLION TO BREATHE NEW LIFE INTO RAIL NETWORKS
National Treasury has allocated over R8 billion to rehabilitate Transnet’s key rail corridors between the Northern Cape and Saldanha, and Gauteng and Durban. The projects, part of the reconfigured Budget for Infrastructure facility, aim to restore full freight capacity and attract private investment. Treasury will fund this from the contingency reserve, expanded to R13.5 billion. Finance Minister Enoch Godongwana said a new R15 billion infrastructure bond and a R2 billion Credit Guarantee Vehicle will support projects and energy expansion. The government aims to streamline PPP regulations and mobilise private capital through the new Infrastructure Finance and Implementation Support Agency. (SOURCE: News24)
|
R19.7 BILLION COLLECTION BONANZA TO NARROW DEFICIT
South Africa’s tax collections rose 9.3% in the first half of the 2025 fiscal year, reaching R924.7 billion - R19.7 billion above Budget estimates. Higher household spending and strong company profits, especially in mining, retail, and finance, boosted receipts. Domestic VAT grew 7.8%, while fuel levy income also increased. Treasury says the revenue overrun will narrow the deficit and fund priority projects. However, the new 3% inflation target could slow nominal GDP and tax growth in the short term. Despite this, Treasury expects long-term gains from lower inflation, improved competitiveness, and steady fiscal consolidation through targeted spending reforms. (SOURCE: Daily Maverick)
|
MUNICIPAL DEBT TO ESKOM SURGES 71% TO DEFY RELIEF PLAN
Municipal arrears to Eskom ballooned 71% to R94.6 billion in the year to March 2025, despite a debt relief programme launched in 2023. The Medium-Term Budget Policy Statement (MTBPS) attributes the increase to weak collections, poor maintenance, and inadequate credit control in many municipalities. Finance Minister Enoch Godongwana said reforms are underway to restore financial discipline and service delivery capacity. Eskom, which reported its first profit in a decade, faces renewed risk from unpaid municipal bills. To stabilise payments, defaulting municipalities may be placed under distribution agency agreements, allowing Eskom to manage electricity services temporarily while local governments implement cost-reflective tariffs and rehabilitate critical infrastructure.
|
VODACOM, STARLINK TEAM UP TO EXPAND AFRICAN CONNECTIVITY
Vodacom Group has partnered with Elon Musk’s Starlink to boost broadband coverage across Africa. The agreement will integrate Starlink’s satellite backhaul into Vodacom’s mobile network, improving performance and reach in remote areas. Vodacom will also sell Starlink equipment and services to enterprise and small business clients. Starlink, active in 25 African countries, aims to expand high-speed access through the deal. The partnership supports Vodacom’s 2030 goal to grow its customer base to 260 million and expand financial services users to 120 million. Implementation depends on regulatory approval and possible amendments to South Africa’s 30% Black ownership rule. (SOURCE: Bloomberg)
|
... AS DSTV PREMIUM DOUBLES DOWN ON STREAMING TO STEM FLIGHT
MultiChoice, now owned by France’s Canal+, is doubling concurrent DStv Premium streams from two to four until year-end, extending to smart TVs as well. The move follows years of subscriber decline - from 1.6 million in 2019 to 900 000 in 2025 - as Premium and mass-market segments fell 9%. Canal+ Africa CEO David Mignot admitted the company is “still bleeding subscribers.” MultiChoice has also launched an Upsize promotion, temporarily upgrading lower-tier users and offering Premium perks like free Showmax access and rewards. Analysts say the short-term boost masks deeper structural challenges in retaining mid- and mass-market subscribers. (SOURCE: Moneyweb)
|
SENEGAL BONDS IN THE BASEMENT AS DEBT DISTRESS LOOMS
Senegal’s bonds have plunged to record lows, with the sovereign risk premium over US Treasuries widening to 1 077 basis points - a level signaling debt distress. The selloff followed the IMF’s visit ending without a new funding deal and Prime Minister Ousmane Sonko’s rejection of debt restructuring despite $7 billion in hidden debts. Yields on Senegal’s 2031 bonds soared to 16.87%, up 300 basis points since early November. Analysts warn Senegal is effectively shut out of global capital markets, joining Gabon and Mozambique among Africa’s most distressed borrowers, though broader contagion risks across the continent remain limited. (SOURCE: Bloomberg) |
... AS NIGERIAN STOCKS PLUNGE TO 15-YEAR LOW
Nigerian equities suffered their steepest drop in 15 years as foreign investors sold off shares ahead of a new capital gains tax. The NGX All-Share Index fell 5% on Tuesday, marking a seven-session losing streak and the sharpest single-day decline since March 2010. Key stocks, including Dangote Cement, MTN Nigeria, and BUA Cement, dropped about 10%. Investors rushed to realise gains under the current 10% tax before the January hike to 30%, unless proceeds are reinvested domestically. Analysts warn the market may remain volatile until tax clarity is provided, highlighting investor nervousness and potential fiscal policy risks. (SOURCE: Reuters)
|
CYBERATTACK WIPES OUT MARKS & SPENCER PROFITS
Marks & Spencer (M&S) has disclosed that a major cyberattack wiped out 98% of its reported profits, severely disrupting operations during a peak trading period. The breach affected point-of-sale systems, inventory management, and online platforms, causing significant sales losses and delays in order fulfillment. Management confirmed that investigations are ongoing to identify the perpetrators and the full extent of the financial and data impact, including potential customer information exposure. Analysts warn the incident could have long-term reputational damage, increase insurance costs, and underline the urgent need for robust digital security in retail operations. (SOURCE: AFP)
|
 |
TRAINING - FOUNDATIONAL MENTAL HEALTH AWARENESS FOR THE WORKPLACE
AN EMPLOYEE ASSISTANCE PROGRAMME (EAP) TRAINIING
TRAINER: Kavisha Chandrakassi – Industrial Psychologist & Psychological Counsellor
OVERVIEW
Increase awareness of mental health and mental illness in the workplace.
• Reduce stigma and encourage supportive environments.
• Equip leaders to recognize signs of common mental health challenges.
• Understand the business impact of mental health.
• Introduce practical tools for early intervention, support, and referrals.
WHO SHOULD ATTEND?
Managers, Supervisors, HR Professionals, Team Leaders.
Attendees will receive a certificate of attendance.
Date: 20 November 2025
Time: 08:30 – 12:30
Venue: PMCB Offices, 1 Parkhaven , 55 Macleroy Road, Northern Park, Pietermaritzburg
COST (Excludes vat)
PMCB Members: R682.60 p/p, R643.48 p/p for 3/more, R595.65 p/p for 5/more
Non-members: R900 p/p, R882.60 p/p for 3/more, R852.17 p/p for 5/more
Please note: The company will be liable for payment unless CANCELLATION is received in writing 24 hours prior to the event. |
As part of eBizBlitz's continuous evolution, and based on feedback, we're inviting readers to comment on articles, news and matters of interest that tickle their fancy.
All it takes is a click on the link, penning your thoughts, and voila, you've spoken your mind. We intend to publish some stand-out submissions and ask readers to keep things civil and respectful. Let's hear those thoughts! |
|
|
Nine-tenths of wisdom is appreciation. Go find somebody’s hand and squeeze it, while there’s time.
Dale Dauten |
|
|
|
| Dollar | R17.08 | + 0.05% | | Pound | R22.40 | + 0.19% | | Euro | R19.78 | + 0.13% | | Yen | 0.110281 |
| | Yuan | R2.41 | + 0.09% | | Bitcoin | $ 102 976.90
| + 1.09% |
These rates are correct at time of going to press. | | Platinum | $ 1 616.47
| - 0.01% | | Gold | $ 4 210.73
| + 0.39% | | Oil | $ 62.59 | - 0.13% | | All Share | 112 908.25
| + 1.55% | | Repo | 7.00 | | | Prime | 10.50 | |
|
|
|
|
|
