| KZN IMPOUNDS 11 TRUCKS IN NIGHT-TIME CRACKDOWN |
The KZN Road Traffic Inspectorate (RTI) has impounded 11 heavy commercial vehicles, targeting freight operators allegedly evading law enforcement by travelling at night. Inspectors found trucks with worn tyres, fraudulent roadworthy certificates, invalid transport permits and overloaded abnormal cargo. Transport MEC Siboniso Duma warned of a zero-tolerance approach, particularly on the busy N3 corridor. The crackdown follows figures showing 60.4% of N3 crashes at the end of 2025 involved single vehicles, while the Road Traffic Management Corporation recorded 12 172 road fatalities in 2024, a 2.43% increase on the previous year. (SOURCE: FreightNews)
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| ENTREPRENEURS MARK MILESTONES WITH BUSINESS SUPPORT |
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Phakamile Mdakane of Jyaco Juices (left) and Kiran Ramdeen of Zilion Bags.
Entrepreneurs participating in the Pietermaritzburg and Midlands Chamber of Business Trade Hub's IYBA SEED Programme continue to notch up impressive milestones, demonstrating how targeted business support is helping local enterprises grow, innovate and access new opportunities.
Zilon Bulk Bags director Kiran Ramdeen has been selected for the prestigious Partnering in Business with Germany Programme, a flagship initiative of the German Federal Ministry for Economic Affairs and Climate Action that links emerging business leaders with German SMEs to foster trade, investment and international partnerships.
Fellow SEED participant Phakamile Mdakane, who operates Jyaco Juices, has secured R20 000 worth of professionally branded marketing material sponsored by Anderson Engineering, boosting its visibility in the health and wellness market. Mdakane, a biomedical science graduate, produces organic cold-pressed beverages.
"Collectively, these achievements highlight the growing impact of the PMCB Trade Hub in helping entrepreneurs build sustainable, globally competitive businesses," said manager Lucrisha Polton. |
| FICA WEBINAR ON HIGH-VALUES COMPLIANCE THIS MORNING |
Businesses selling goods valued at R100 000 or more are reminded that annual FICA Risk and Compliance Returns (RCRs) are due by 31 July. Join compliance specialist Jennifer Finnigan of Shepstone & Wylie for a practical online webinar covering HVGD obligations, compliance requirements, money laundering risks and key steps to avoid penalties this morning at 9.30 am. The presentation is via Microsoft Teams with the meeting ID of 352 651 700 116 469 and passcode of M25JD3He.
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2004: A new R5 coin with enhanced security features to thwart counterfeiters was introduced.
1914: The assassination of Archduke Franz Ferdinand triggered World War I.
Today is both World Hepatitis Day and World Nature Conservation Day.
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EMPLOYEE BENEFITS FACE GROWING AFFORDABILITY PUSHBACK
South Africa's R800 billion employee benefits industry is facing increasing resistance as workers struggle with rising living costs and limited take-home pay. Benefits broker NMG says compulsory membership of retirement funds and medical aid schemes is creating friction, with employees wanting greater control over their earnings. Employers are also reporting more requests for salary advances and financial assistance.
Retirement funds account for about R500 billion of the industry, covering nine million workers, yet the average retirement income replacement ratio is only 38%, well below the recommended 75%. Medical schemes are also under pressure as healthcare costs outpace inflation and membership stagnates at about 8.9 million principal members and dependents, driving contribution increases above inflation. (SOURCE: Moneyweb)
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.... AS FIRST-TIME BUYERS LEFT IN LURCH AS HOUSING SUBSIDIES VANISH
Thousands of first-time South African home buyers are being left in limbo as government housing subsidy funds are exhausted, stalling property transfers worth hundreds of thousands of rand. The subsidy, which can exceed R190,000 for qualifying lower-income buyers under existing housing support programmes, has become increasingly difficult to access because of funding shortages. Property industry stakeholders warn that delayed approvals are causing sales to collapse, affecting buyers, developers and banks alike. They have urged government to replenish subsidy allocations, warning that prolonged delays will deepen the housing backlog, reduce affordable home ownership and undermine confidence in the residential property market. (SOURCE: News24)
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SUGAR GROWERS DEMAND URGENT ACTION ON CHEAP IMPORTS
South Africa's sugar industry is urging Trade, Industry and Competition Minister Parks Tau to fast-track a tariff review as a surge in low-cost imports threatens local producers. SA Canegrowers says commercial and small-scale farmers have lost sales of about 45 000 tonnes of locally produced sugar, while imports have almost doubled year-on-year. The organisation warns growers in KZN ga face mounting financial pressure as imported sugar undercuts domestic prices. Industry leaders argue stronger tariff protection is needed to safeguard jobs, sustain rural economies and support the recovery of the country's struggling sugar sector. (SOURCE: BDLive)
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... AS ITAC BACKS HIGHER DUTY ON IMPORTED PEANUT BUTTER
The International Trade Administration Commission of South Africa (Itac) has recommended raising the customs duty on imported peanut butter from R0.99/kg to 25% ad valorem to protect local manufacturers. The move follows an application by RCL Group Services after Itac found domestic production, sales and factory capacity had declined while imports, mainly from India, increased sharply. Higher raw material, labour and operating costs have also eroded the competitiveness of South African producers. Itac has additionally launched an investigation into a temporary rebate on imported groundnuts to reduce input costs and strengthen the local peanut butter industry. (SOURCE: Engineering News)
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SCOPA ON WARPATH OVER R5 BILLION RAF LOSSES
Parliament's Standing Committee on Public Accounts (Scopa) has pledged to pursue criminal charges, financial recoveries and sweeping reforms at the Road Accident Fund (RAF), warning years of corruption and mismanagement threaten its sustainability. Chairperson Songezo Zibi said the criminal case against former RAF CEO Collins Letsoalo is progressing, while investigations into financial misconduct continue. Scopa estimates poor management is wasting more than R5 billion a year, largely through legal costs and inefficient systems. The RAF faces liabilities exceeding R300 billion, while annual claims continue to outstrip revenue, prompting proposals for governance, funding and legislative reforms to protect the fiscus. (SOURCE: Moneyweb)
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...AS SIU FREEZES EX-PRASA CEO'S R15.75 MILLION PROPERTIES
The Special Investigating Unit (SIU) has secured a preservation order freezing two luxury properties belonging to former Prasa CEO Tshepo Montana, valued at R15.75 million, pending civil recovery proceedings. The SIU alleges it traced a direct flow of funds from Prasa's controversial R5.6 billion Integrated Security Access Management System (ISAMS) contracts to the purchases. The Special Tribunal barred Montana from selling or transferring the Hurlingham and Waterkloof properties while the case proceeds. Montana is due to appear before the Tribunal on 11 August, as the SIU seeks to recover alleged proceeds of corruption and maladministration. (SOURCE: The Citizen)
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... AND OUTA QUESTIONS BALLOONING R442 MILLION STUDENT FUND
The Organisation Undoing Tax Abuse (Organisation Undoing Tax Abuse) has raised concerns over a dramatic increase in the Insurance Sector Education and Training Authority's student fund from R20 million to R442.8 million between 2024 and 2025. OUTA alleges the appointment of Mabophe Business Solutions to manage about R70 million in bursary payments may have bypassed proper procurement processes. Despite the funding increase, 879 students reportedly went unpaid during the first five months of 2026, leaving some facing eviction. OUTA is also challenging the reappointment of suspended Inseta CEO Gugu Mkhize, citing governance failures and calling for a full investigation into the fund's management. (SOURCE: Moneyweb)
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ILLEGAL MIGRANT GANGS LINKED TO KIDNAPPING SURGE
Police are investigating growing links between illegal migrant criminal syndicates and a wave of kidnappings targeting mainly Portuguese-owned businesses in South Africa. Business organisations warn that ransom crimes have escalated, with victims often abducted during hijackings or armed robberies before families are contacted for payment. Industry reports indicate Portuguese business owners have been disproportionately targeted, prompting calls for stronger intelligence-led policing and border security. Nationally, kidnappings have risen sharply in recent years, with SAPS recording more than 17 000 kidnapping cases annually, while organised extortion and ransom syndicates continue expanding. Authorities say many gangs operate across borders, exploiting illegal migration routes and sophisticated criminal networks. (SOURCE: BDLive)
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ANGOLAN KWANZA JOINS SADC PAYMENTS SYSTEM
Cross-border trade in Southern Africa is set to become faster and cheaper after Angola's kwanza joined the SADC Integrated Regional Electronic Settlement System (SIRESS). The move, driven by the Angolan and South African central banks, will allow businesses and banks to settle transactions directly in local currencies, reducing costs, delays and reliance on correspondent banking. The integration is expected to strengthen trade and investment between Angola and other SADC members while supporting regional financial integration. The initiative forms part of broader efforts to improve payment efficiency and deepen economic cooperation across the Southern African Development Community. (SOURCE: BDLive)
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AI DATA CENTRES TO CONSUME 20% US POWER BY 2035
Artificial intelligence is set to transform US electricity demand, with data centres projected to consume 20% of the nation's power by 2035, up from 5.9% today, according to BloombergNEF. Electricity demand from data centres is forecast to reach 194 gigawatts, an 83% increase from previous projections, driven by rapid AI expansion. The surge is straining power grids after decades of stagnant demand, particularly in Virginia and Texas, where large data centre clusters are concentrated. Analysts warn the US could face a 19-gigawatt electricity shortfall by 2035 unless grid connections and generation capacity are expanded significantly. (SOURCE: Bloomberg)
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ATTACKS ON CRYPTO HOLDERS UP 33%
Violent attacks on cryptocurrency investors are rising sharply as criminals combine cyber intelligence with physical coercion to steal digital assets. Blockchain security firm CertiK verified 52 physical attacks in the first half of 2026, up 33% year-on-year, with losses and ransom demands soaring from US$10.5 million to US$124 million. Criminals harvest personal information by linking blockchain transactions with leaked customer databases, social media profiles, public records and data broker information to identify wealthy crypto holders and their home addresses. Home invasions have become the fastest-growing tactic, replacing kidnappings as organised crime targets increasingly lucrative cryptocurrency victims. (SOURCE: Bloomberg
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Always be a first-rate version of yourself, instead of a second-rate version of somebody else.
Judy Garland |
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| Dollar | R16.78
| - 0.16% | | Pound | R22.31
| - 0.15% | | Euro | R19.08
| - 0.17% | | Yen | 0.102432 |
| | Yuan | R2.48
| - 0.12% | | Bitcoin | $ 63 482.51
| - 2.00% |
These rates are correct at time of going to press. | | Platinum | $ 1 606.20
| - 1.15% | | Gold | $ 4 050.14 | - 0.64% | | Oil | $ 84.47
| - 4.92% | | All Share | 110 110.81
| + 0.65% | | Repo | 7.00 | | | Prime | 10.50 | |
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