| A GALAXY OF WINNERS ON A GLITTERING NIGHT OF STARS |
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The Brink Towing Systems team celebrating their win. Picture by Eric Cornhill.
Proceedings at the Pietermaritzburg and Midlands Chamber of Business Annual Banquet and Business Awards ended around midnight on Friday to cap arguably the city’s most spectacular event. Sponsored by Mi7 and the Jesmondene Lifestyle Estate - that launched the city’s newest residential development on the night - the event at Epworth School celebrated a number of companies and individuals for their achievements.
Lively music by the Qadasi & Maqhinga duo inspired by Johnny Clegg and the antics of stand-up comedian Stuart Taylor went down a treat by guests who also indulged in a sumptuous re-imagination of fusion cuisine, courtesy of CHC Catering. Some guests got even more bang for their buck with an array of impressive lucky draw prizes, not least a four-night MSC cruise, courtesy of Jesmondene Lifestyle Estate.
For all the winners and a full gallery of pictures, see tomorrow’s eBizBlitz.
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| KICKING ACCOUNTABILITY AND CONSEQUENCE MANAGEMENT IN THE TEETH |
| AT CHAMBER: MASTERING DISCIPLINE AND DISMISSAL IN PRACTICE |
Trainer Pravashnee Kotiah from NKR Outsourced HR will guide participants through the Labour Relations Act and the new Code of Good Practice on Wednesday at the Pietermaritzburg and Midlands Chamber of Business. The session covers investigating misconduct, obtaining statements, issuing warnings, drafting hearing notices, presenting evidence, and applying mitigating and aggravating factors to determine fair and consistent disciplinary outcomes in the workplace. To book, contact Thabisile on (033) 3452747 or at info@pmcb.org.za.
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1871: Dr. David Livingstone was found by Henry Stanley in their quest for the source of the Nile River, with the famous words “Dr. Livingstone, I presume?”
Elsewhere, in 1903, the windshield wiper was patented by Mary Anderson.
Double date: Today is International Accounting Day and also World Science Day for Peace and Development.
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EX-SOUTH AFRICANS STRUGGLE TO REPATRIATE THEIR FUNDS
South Africans emigrating now face stricter rules when transferring funds abroad. Under new South African Reserve Bank (SARB) and South African Revenue Service (SARS) regulations, emigrants must secure a Tax Compliance Status (TCS) approval or Manual Letter of Compliance (MLC) before transferring post-emigration income such as dividends, rental or trust distributions.
Transfers above the single discretionary allowance (up to R1 million) require a SARS Approval for International Transfer (AIT) PIN. Previously emigrated individuals who didn’t obtain the new documentation are being blocked. Consultants say countless emigrants are finding their money stuck in South Africa despite completing prior “financial emigration” processes. (SOURCE: News24)
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SHARK-NET PLAN AT CLUB MED STIRS UP CONSERVATION CAULDRON
Conservationists have raised alarm over KwaDukuza Municipality’s plan to install shark nets and drumlines at the new Club Med South Africa Beach & Safari resort, saying they act as underwater snares, endangering dolphins, turtles, and harmless sharks. No shark attacks have been recorded at Tinley Manor since nets were removed. The proposed site lies just 75 metres from the uThukela Marine Protected Area, a crucial ecological zone along 85km of coastline. The Department of Forestry, Fisheries and the Environment will hold public participation meetings on November 5 and 6 before deciding, with Club Med supporting an expert-led review process. (SOURCE: North Coast Courier)
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FOUR RAF EXECUTIVES SUSPENDED AMID CRISIS INQUIRY
As Parliament’s oversight probe into maladministration and financial misconduct at the Road Accident Fund (RAF) deepens, the board has suspended four senior executives, including acting CEO Phathutshedzo Lukhwareni, CFO Bernice Potgieter and chief governance officer Mampe Kumalo. The precautionary suspensions follow explosive testimony revealing years-long suspensions, legal excesses, and manipulation of accounting standards to conceal liabilities now exceeding R500 billion. The RAF board said the move aims to ensure an “independent and unhindered investigation” and restore trust after multiple audit disclaimers and collapsing claims systems eroded public confidence. (SOURCE: Daily Maverick)
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... AS PIC CHIEF SLAMS 'UNACCEPTABLE' LANSERIA BEE DEAL
Public Investment Corporation (PIC) CEO Patrick Dlamini has criticised a R 400 million payout to the BEE partner Acapulco Trade and Invest in a deal involving Lanseria International Airport Holdings, calling the underlying valuation “completely unacceptable”. The PIC alleges the stake’s value was inflated by about R 1.7 billion, enabling Acapulco to walk away with roughly R 1 billion in valuation for a 25% equity stake—despite defaulting on a R 600 million debt including interest. The airport was originally purchased in 2013 via a R 333.2 million loan from the PIC. The board is now considering legal action to recover the funds. (BDLive/News24)
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... AND GIGABA TO SURRENDER OVER STATE CAPTURE CHARGES
Former Cabinet minister Malusi Gigaba is expected to surrender to police this week after being charged in connection with state capture allegations. The case stems from the findings of the Zondo Commission, which linked Gigaba to the Gupta family’s undue influence over key government decisions during his tenure as public enterprises and finance minister. Authorities confirmed that an arrest warrant was issued earlier this week. Gigaba’s legal team says he will cooperate fully with investigators, maintaining his innocence. The National Prosecuting Authority is expected to outline the charges when he appears in court. (SOURCE: BDLive)
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GOVERNMENT BANKS ON GAIN PROGRAMME TO LIFT GROWTH
Government is pinning its hopes on the new Growth Acceleration and Investment Network (GAIN) to raise economic growth to 3.5% by 2027. The initiative aims to streamline investment approvals, cut red tape, and fast-track infrastructure projects worth more than R200 billion. Finance officials say GAIN will bring together public and private partners to unlock stalled projects and attract foreign capital. Economist Dawie Boonzaaier said the plan’s success depends on restoring investor confidence and improving energy reliability. Treasury believes the programme could create 500 000 jobs over three years if implemented effectively, bolstering South Africa’s fragile post-pandemic recovery. (SOURCE: News24)
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SASOL SEEKS DELAY AMID GROWING GAS SUPPLY CRISIS
South Africa’s looming gas supply crunch has deepened as Sasol formally requested a delay in meeting regulatory obligations, citing uncertainty over future imports. The energy and chemicals giant warned that the country faces a major gas shortfall by mid-2026, threatening thousands of jobs and key industries reliant on its Secunda and Sasolburg operations. Industry players criticised government’s “deafening silence” on plans to replace dwindling Mozambique pipeline supplies, urging urgent policy clarity and infrastructure investment. Analysts estimate the gas sector supports over 70 000 jobs and contributes R150 billion annually to South Africa’s industrial output. (SOURCE: News24)
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NUMSA SECURES THREE-YEAR WAGE DEAL IN TYRE SECTOR
The National Union of Metalworkers of South Africa (Numsa) has finalised a three-year wage agreement for the tyre manufacturing sector, effective July 31, 2025, to June 30, 2028. All hourly-paid employees in Grades 1 to 7 will receive annual across-the-board increases: 5.5% in 2025, and 5% in both 2026 and 2027, backdated to the agreement’s start. Qualifying employees will also progress from minimum to maximum pay for their grade by 2028. Additionally, Numsa secured a 10c per hour contribution from employers and employees to a housing fund, aimed at supporting future housing needs, to be managed via the bargaining council. (SOURCE: Engineering News)
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TRUMP SNUBS G20 SUMMIT, BARS US OFFICIALS FROM ATTENDING
US President Donald Trump has announced that no American officials will attend the upcoming G20 Leaders’ Summit in Johannesburg, escalating diplomatic tensions with South Africa. The decision comes two weeks before the event, where leaders from major economies including China, India, Germany, and the UK are expected. Trump, who previously said he would not attend, claimed on social media that white Afrikaners are being “killed and persecuted”, accusations that have repeatedly been rejected as false. The South African Department of International Relations called his comments “regrettable,” warning the move could disrupt the planned handover of the 2026 G20 presidency to the US. (SOURCE: Moneyweb)
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TESLA SHAREHOLDERS BACK MUSK’S R17.3 TRILLION PAY PACKAGE
Tesla shareholders have overwhelmingly approved CEO Elon Musk’s record-breaking compensation deal, potentially worth US $1 trillion (about R17.3 trillion) over the next decade. The package, valued at about US $878 billion after deductions, ties Musk’s earnings to ambitious performance milestones, including boosting Tesla’s market value from roughly US $1.5 trillion to US $8.5 trillion, rolling out one million robotaxis, and expanding humanoid robot production. More than 75% of shareholders backed the plan at the company’s annual meeting on 6 November 2025, despite criticism from major investors warning of excessive concentration of power and the risks of a one-man leadership model. (SOURCE: Reuters)
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2025 GLOBAL HEAT SURGE JEOPARDISES PARIS CLIMATE GOAL
Global temperatures through August were 1.4°C above pre-industrial levels, putting 2025 on track to be one of the hottest years ever, the World Meteorological Organisation (WMO) reports. The decade to 2025 is the warmest since the 1800s, coinciding with COP30 in Belém, Brazil, marking 10 years since the Paris Agreement. WMO warns it’s “virtually impossible” to stay below 1.5°C without temporary overshoot. Rising greenhouse gases, ocean heat, and sea levels persist, while extreme weather disrupts food, energy, and livelihoods. Power demand rose 4% globally in 2024 as droughts and storms reshaped energy production. (SOURCE: Bloomberg)
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Selling Your House This Summer? Get Your Ducks in a Row With This Checklist |
Summer has always been a prime time to buy and sell property in South Africa. Everyone’s spirits lift with the blue-sky weather, the festive season beckons, and holiday travel booms.
If you’re planning to take advantage of this seasonal upswing by selling now, get your ducks in a row with our Seller’s Checklist – a simple and practical guide with all the key ingredients for a perfect sales strategy. You’ll be well on your way to a successful sale and a quick and hassle-free transfer!
To read more click here.
For more information please contact: Austen Smith Inc T: +27 33 392 0500 E: mail@austensmith.co.za Website: www.austensmith.co.za |
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In my experience, each failure contains the seed of your next success, if you're willing to learn from it.
Paul Allen |
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These rates are correct at time of going to press. | | Platinum | $ 1 573.60
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