| WEDNESDAY R2.75/LITRE PETROL-PRICE DROP BRINGS RELIEF |
Motorists will enjoy long-awaited relief when fuel prices drop at midnight tomorrow. The Energy Department announced that petrol will fall by R2.75 per litre, diesel by R1.95, and illuminating paraffin by R1.60. The reductions follow stabilising global oil markets and a stronger Rand, easing import costs. This move is expected to lower transport fares, improve household spending power, and reduce the cost of essential goods - offering short-term relief after months of price hikes and inflationary pressure. (SOURCE: MGID) |
| CHAMBER CONDOLENCES FOR DOC GROOVY’S PASSING |
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Dr Leon Grové, a well-known figure in the Pietermaritzburg and Midlands business community, recently passed away in Cape Town. Longtime colleague and friend Brenda Eckstein reflects on his legacy.
Leon Grové, affectionately known as Doc Groovy, will be fondly remembered by many in the Pietermaritzburg business community. From 1989 to 2017, when he and his family were based in the city, Leon played an active and influential role in the Pietermaritzburg and Midlands Chamber of Business, serving in various capacities with dedication and warmth.
As a clinical psychologist, Leon specialised in counselling and sleep therapy, and his expertise in psychometrics helped bridge the gap between psychology and commerce and industry. Many will recall his insightful book and workshops on The ABCs of Stress, which provided practical tools for managing personal and professional challenges.
Leon also contributed significantly to corporate strategy, working with major companies and offering guidance that shaped business thinking and leadership. His ability to connect with people and understand their needs made him a valued mentor, especially to emerging entrepreneurs.
Serving as president of the Pietermaritzburg Chamber of Commerce and Industries in 1996, Eckstein worked closely with Grove. “Leon was always such a pleasure to work with. Together, we developed and facilitated Customer Service Strategy workshops covering a wide range of diverse topics. Leon’s legacy lives on in the lives he touched, the businesses he helped shape, and the community he served with passion and integrity,” she said. Eckstein extended her heartfelt condolences to Judith, Bernie, and Rion.
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| COURT SMACKS DOWN NERSA ELECTRICITY METHODOLOGY |
The Gauteng Division of the High Court in Pretoria ruled on Friday that Nersa’s process for approving municipal electricity tariffs without proper cost studies and public participation is unconstitutional. This ruling came after AfriForum challenged Nersa’s 2025/26 tariff approval. The court mandated that Eskom’s tariffs must be communicated to municipalities by 31 January, tariff applications submitted by 30 March, and final decisions made by 5 May annually. Cost-of-supply studies must be published for public scrutiny. This order enhances transparency and consumer involvement in tariff increases The high court has given interested parties, including all 158 municipalities, until 18 November to submit reasons why the proposed timelines should not be approved. (SOURCE: Daily Maverick)
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1984: The first black South African newspaper, Imvo Zabantsundu (Opinion of the People), was published in King William's Town.
Elsewhere, in 1838, the world's largest English-language daily, The Times of India, was founded.
Happy wobbling, on World Jellyfish Day!
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KZN SMALL HARBOUR PROGRAMME TO BOOST COASTAL ECONOMY
KwaZulu-Natal is set for a maritime transformation after Public Works and Infrastructure Deputy Minister Sihle Zikalala launched Phase 1 of South Africa’s first democratic-era small harbour construction programme in Port Shepstone on Friday. The initiative marks the first new small harbours built post-1994, addressing neglected coastal towns and expanding access to economic opportunities.
The Spatial Economic Development Frameworks designate Port Shepstone as the first site, followed by Port Edward and Hibberdene, with future SEDFs for Port St Johns and Port Nolloth. The R4.41 billion project is expected to add R1.85 billion to GDP and create 5 808 jobs during construction. Implemented in three stages, it aims to strengthen local commerce, enhance transport networks, and promote inclusive, sustainable coastal development. |
SA WILL PAY 'PREMIUM' TO DRIVE INDUSTRIAL GROWTH
Electricity and Energy Minister Kgosientsho Ramokgopa says South Africa is ready to pay a premium to ensure the multibillion-Rand grid expansion drives industrialisation, localisation, and transformation. Addressing manufacturing and construction leaders in Sandton, he said local content will be prioritised in the first Independent Transmission Project (ITP) phase, which includes 1 164 km of powerlines and 2 630 MVA capacity across seven corridors. The ITP forms part of the R440 billion Transmission Development Plan to build 14 500 km of lines and 133 000 MVA transformers by 2034. Ramokgopa said the plan, backed by the IDC and National Treasury’s Credit Guarantee Vehicle, would create steady procurement, protect local suppliers, and attract industrial investment worth tens of billions over the next decade. (SOURCE: Engineering News) |
... AND CONSORTIUM FINED R165 MILLION FOR FAILED GREEN PROJECTS
A renewable energy consortium must pay the Department of Mineral Resources and Energy (DMRE) R165 million after six of its wind-farm developments failed to meet contractual milestones and were consequently terminated. The six projects had been approved under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), with a combined projected capacity in the hundreds of megawatts and capital investments reaching into the billions of rands. The penalty underscores the government’s push to enforce accountability and protect public-funded renewable projects when developers default on performance obligations. (SOURCE: News24)
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MINING SECTOR’S GDP SHARE SLIPS TO 6.2% AMID STRAINS
South Africa’s mining sector contributed 6.1% to the country’s R4.6 trillion GDP in 2024, down from 6.3% in 2023, according to the Department of Mineral and Petroleum Resources’ Mining Sector Performance 2024 report. The sector’s Gross Value Add rose 0.3% to R203.7 billion, while employment reached 474,736. Despite gains in manganese, chromium, and vanadium output, subdued commodity prices, rising costs, and rail bottlenecks curbed growth. Ferrous minerals production rose 3.4%, PGMs 1.4%, but gold and diamond output fell 2.1% and 1.2%, respectively. The report highlights the need for stronger logistics, regulatory reform, and investment to sustain the mining industry’s global competitiveness. (SOURCE: Mining Review)
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MALAYSIAN DISCOUNT DIY NEWCOMER TARGETS 1 500 STORES
Malaysia’s discount retailer Mr DIY plans to open 1 500 stores across South Africa as part of its rapid expansion strategy. The company, which already operates over 70 local outlets, aims to capitalise on growing demand for affordable home improvement and lifestyle products. Mr DIY’s South African operations are part of its broader African growth push, supported by local partnerships and a value-based retail model. Founded in 2005, the chain now boasts more than 3 500 stores globally across 13 countries, positioning itself as one of the world’s fastest-growing home improvement retailers. (SOURCE: News24)
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... AS DUBAI-BASED OPTASIA RAISES R6.5 BILLION IN IPO
AI-powered fintech company Optasia, headquartered in Dubai, has successfully closed its initial public offering (IPO), raising R6.5 billion from the sale of 342 million shares at R19 each. The offering, multiple times oversubscribed, drew strong interest locally and internationally. With a total of 1.24 billion shares in issue, the IPO implies a market capitalisation of R23.5 billion, with the new shares representing 28% of total issued stock. Proceeds from the primary issuance of R1.3 billion will support growth and acquisitions, while secondary sales of R4.4 billion allow existing shareholders to divest. Shares begin trading on the JSE tomorrow. (SOURCE: Engineering News)
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ASPEN TO RECEIVE R500 MILLION IN CONTRACT SETTLEMENT
JSE-listed pharmaceutical company Aspen will receive €25 million (about R500 million) on December 1, settling a contractual dispute in full and final terms. The dispute stems from a manufacturing and technology agreement with a contract manufacturing client for messenger RNA (mRNA) products. While details remain confidential under contractual terms, the settlement resolves all outstanding claims between the parties. Aspen confirmed the payment will be received as scheduled, providing a boost to its cash position. The resolution allows the company to focus on ongoing operations, including its pharmaceutical manufacturing and technology services, without further legal or financial uncertainty related to the mRNA agreement. (SOURCE: SENS)
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RHINO HORN SALES RULING MAY BOOST CONSERVATION FUNDS
A pending court ruling on legal rhino horn sales could unlock millions for conservation and potentially curb poaching in South Africa. Private rhino breeders argue that controlled domestic and international trade would provide sustainable funding for anti-poaching efforts and habitat protection. Conservationists remain divided, warning that legalising sales might fuel illicit markets. South Africa is home to about 16,000 rhinos, nearly 80% of the global population, yet loses hundreds each year to poaching. The judgment, expected soon, could reshape wildlife conservation funding and policy in the world’s largest rhino range state. (SOURCE: News24)
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CHINA THREATENS SA’S LEADING MACADAMIA POSITION
South Africa - the world’s largest macadamia producer, supplying about 30% of global output - faces rising competition from China, its biggest buyer and emerging rival. Global Macadamias CEO Shane Hartman warned that China’s expanding orchards and cracking capacity threaten local growers’ long-term stability. South Africa produces around 70,000 tonnes of nuts annually, 95% for export, mainly to China, Europe and the US. Falling in-shell prices, widening kernel-style gaps and new US import tariffs have pressured margins. Hartman said growers must invest in cracking facilities and strengthen processor partnerships to maintain profitability and global competitiveness. (SOURCE: FreightNews)
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GOOGLE TO BUILD FOUR NEW AFRICAN TECH HUBS
Alphabet’s Google will build four new infrastructure hubs across Africa to connect its latest Equiano and Umoja undersea fiber-optic cables. The hubs - spanning the north, west, south, and east of the continent -will serve as landing stations and data centers to enhance internet speed and reliability. Google Africa MD Alex Okosi said the investment forms part of the tech giant’s expanded commitment beyond its $1 billion Africa pledge made in 2021. The three-year project aims to boost connectivity, lower broadband costs for telcos like MTN and Vodacom, and accelerate Africa’s access to artificial intelligence technologies. (SOURCE: Bloomberg)
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PROJECTED EMISSIONS DROP WAY SHORT OF TARGET
Global emissions are projected to fall 10% by 2035 compared with 1990 levels - the first-ever decline forecast by the United Nations. But that’s far short of the 60% cut needed to limit warming to 1.5°C, the Paris Agreement goal. UN climate chief Simon Stiell said the world is “bending the curve downward, but not fast enough.” The UN report, based on 64 national climate pledges, covers 80% of global emissions. China, India, and the EU have yet to finalize their plans ahead of next month’s COP30 summit in Brazil, where closing the 1.5°C gap will dominate talks. (SOURCE: Bloomberg)
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They can conquer who believe they can.
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| Dollar | R17.29 | + 0.19% | | Pound | R22.72 | + 0.31% | | Euro | R19.95 | + 0.72% | | Yen | 0.112162 |
| | Yuan | R2.43 | + 0.17% | | Bitcoin | R 107 560.60
| - 1.74% |
These rates are correct at time of going to press. | | Platinum | $ 1 600.88
| + 2.57% | | Gold | $ 4 011.39
| + 0.36% | | Oil | $ 65.13
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| - 0.39% | | Repo | 7.00 | | | Prime | 10.50 | |
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