| PIONEERING 5-YEAR PPA OFFERS IMMEDIATE ENERGY SAVINGS |
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A Sosimple Energy installation offers electricity users an unprecedented 5-year Power Purchase Agreement and immediate savings on their energy spend.
Sosimple Energy has launched a pioneering 5-year solar Power Purchase Agreement (PPA) aimed at offering South African businesses immediate relief from soaring energy costs. A member of the Pietermaritzburg and Midlands Chamber of Business, Sosimple said its “Sosimple Sprint” providing cost-effective solar energy with zero upfront investment and a short, flexible contract - is the first of its kind in the country.
Against a background of escalating Eskom tariffs of around 12.74% annually and diesel backup systems costing around R10/kWh, Sosimple’s 5-year PPA guarantees clients cheaper daytime power than Eskom from day one. “We’ve listened to what business owners want: no 20-year lock-ins, no capital drain - just fast, measurable savings,” says Sosimple. Targeting commercial users spending upwards of R20 000 monthly on electricity, the offering delivers immediate cashflow benefits and long-term energy price certainty.
The company shoulders the performance risk and ensures customers only pay for energy they use, at a rate guaranteed to beat Eskom’s. The solution is ideal for firms needing flexibility in uncertain economic conditions but still seeking operational savings. Sosimple is currently offering a free, no-obligation solar assessment to demonstrate how businesses can start saving today - without financial risk. “This is not the future. This is now,” the company says. Click here for more information.
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| ESCALATING ISRAEL-IRAN CONFLICT DOES SOUTH AFRICA NO FAVOURS |
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| AN APOLOGY FOR MIXING UP BERRIES AND BIRDS |
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Yesterday’s snippet in eBizBlitz bout the achievements of baristas Fanie Botes and Luhle Myanda got the name of their award-winning establishment wrong. For the record, the duo of championship-brewing baristas is from the Bluebird Coffee Roastery in Howick. Apologies for the confusion.
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1911. Civil engineer John Weston took off in a home-built Weston-Farman biplane from Kimberley and set a South African flight record of 8.5 minutes.
Elsewhere, in 1815, Napoleon was defeated in the Battle of Waterloo. |
SLOWING RENTS OFFER KZN CONSUMERS LIMITED RELIEF
Despite slowing to 4.5% in Q1 2025, rental growth in KZN continues to squeeze consumer budgets. While not the highest in the country, rents remain elevated – just R31 below Gauteng – posing challenges for tenants already strained by rising living costs. Nationally, South Africa’s rental market reached a record high of R9 132, with growth accelerating to 5.6%, the strongest since 2017, according to the PayProp Rental Index.
While arrears have stabilised at 17%, affordability concerns are mounting, especially as fuel and electricity hikes loom. Nearly 80% of agents report tenant relocations due to cost pressures. With the rent-to-income ratio now at 28.8%, landlords may need to reassess pricing to avoid tenant churn – particularly in higher-end markets where affordability gaps are most pronounced. (SOURCE: Bizcommunity)
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RAFT OF LEGISLATIVE CHANGES AIMS TO MAKE BUSINESS EASIER
The Department of Trade, Industry and Competition (DTIC) aims to finalise an omnibus bill by the end of the 2025 financial year to cut red tape and improve ease of doing business in South Africa. Amendments are proposed to several laws, including the Companies Act, Liquor Act, and outdated patent and trade legislation. The reforms support Operation Vulindlela's efforts to boost investment by streamlining regulations, enhancing IP protection, and aligning with international best practices. Updates to the National Building Regulations, International Trade Administration Act, and the introduction of utility model patents will aid small businesses. Public consultations on these changes are planned for August and September, with cabinet submissions to follow. (SOURCE: BDLive)
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SUGAR BODY WARNS CHEAP IMPORTS THREATEN JOBS
Cheap, subsidised sugar imports are threatening South Africa’s rural sugar-growing regions, especially in KwaZulu-Natal, where livelihoods depend on sugarcane farming. SA Canegrowers, following its AGM in Umhlanga, warned that imported sugar is being dumped at prices below global and local production costs, endangering thousands of jobs. ChairHiggins Mdluli called for urgent protection against unfair trade, stressing the impact on already vulnerable farming communities. For every tonne of imported sugar, local growers lose R6 000. The industry is also pressured by mill closures, weather shocks, and the sugar tax. SA Canegrowers backs a revised Sugarcane Master Plan to restore stability. (SOURCE: Bizcommunity)
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VIRGIN ACTIVE CLOSURES POINT TO LEISURE SECTOR MALAISE
Virgin Active is closing three gyms — in Soweto, Midrand, and Mbombela — over three months, highlighting lingering challenges in the post-Covid leisure industry. The closures stem from ageing facilities unable to meet modern standards, despite investment. While Virgin Active is recovering slowly, with 634,000 members in Southern Africa, it remains below pre-pandemic earnings targets. The group is now investing in overdue refurbishments and focusing on core locations. Owner Brait, which plans to sell Virgin Active by 2027, continues streamlining operations and boosting growth through partnerships, including a renewed Discovery deal and expanded rollout of Kauai outlets. (SOURCE: Moneyweb)
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ROLLS ROYCE BACKS TRAINING WITH R600 MILLION FACILITY
Rolls-Royce Power Systems has launched a R600 million regional headquarters and training centre in Johannesburg to support its growing mtu-brand power systems across Africa. Operated by Rolls-Royce Solutions Africa, the 6 000m² facility centralises services like logistics, spare parts, and technical training. It will train 100–150 technicians annually on engines used in mining, energy, and transport. The site also enables local engineering and assembly of repower modules for heavy-duty machinery. Celebrating 25 years in South Africa, Rolls-Royce says the investment boosts localisation, reduces lead times, and improves supply chain resilience for clients across the continent’s demanding sectors. (SOURCE: Engineering News)
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UNDER-FIRE SABS CORRUPTION PROBE RUNNING BEHIND SCHEDULE
The investigation into alleged corruption and mismanagement at the South African Bureau of Standards (SABS) has been extended to June 30, following delays in evidence gathering. Commissioned by Trade, Industry and Competition Minister Parks Tau and led by TSU International, the probe responds to whistleblower reports of bullying, staff victimisation, and mismanagement, including failure to recover from a major 2024 cyberattack. DA MP Toby Chance criticised Tau for failing to suspend implicated executives, raising concerns about interference. He also flagged delays in appointing a permanent CEO and board, which Tau claims are now being prioritised. (SOURCE: Engineering News)
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CHINA ROLLS OUT ZERO-TARIFF RED CARPET TO 53 AFRICAN NATIONS
China’s new zero-tariff policy, granting duty-free access to goods from 53 African nations, is set to transform trade dynamics. South Africa’s Western Cape exporters seized the opportunity at the recent China-Africa Economic and Trade Expo by showcasing products including organic cosmetics, wines, and teas. With China already one of the Western Cape’s top export markets, the move could significantly boost trade volumes. Wesgro aims to leverage this breakthrough to help businesses expand into global markets, supporting the province’s goal to triple exports by 2035 through diversification and strategic partnerships. (SOURCE: Bizcommunity)
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ZIMBABWE HOLDS 35% RATE STEADY AS TENSIONS MOUNTS
Zimbabwe’s central bank has unexpectedly kept its policy rate steady at 35%, citing rising global tensions, trade fragmentation, and policy uncertainty. Despite the challenging environment, the bank maintains a 6% domestic growth forecast, supported by strong agricultural output and macroeconomic stability. The ZiG, Zimbabwe’s gold-backed currency, now accounts for 43% of transactions, up from 26% in April, with $701 million in reserves. Governor John Mushayavanhu defended the tight monetary stance amid a liquidity crunch, saying it has helped stabilise the ZiG. The IMF recently endorsed the ZiG’s potential to become Zimbabwe’s sole currency - the sixth such attempt since 2009. (SOURCE: Bloomberg)
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VOLATILE OIL PRICES KEEP TRADERS ON EDGE
Oil prices fluctuated as markets reacted to escalating tensions between Israel and Iran, with Brent briefly jumping 2.2% before settling near $73 a barrel. Traders are on edge over potential crude supply disruptions, especially through the vital Strait of Hormuz, which handles about a fifth of global oil. Although Iran’s oil infrastructure remains intact, shipping concerns are growing. Increased interference with navigation signals and reluctance from shipowners to operate in the region are raising red flags. While markets aren’t yet pricing in full-scale disruption, analysts warn further escalation could trigger severe supply shocks and significant price hikes. (SOURCE: Bloomberg)
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… AS GOLD KEEPS AN EVEN KEEL
Gold prices held steady on Tuesday after an early spike triggered by US President Donald Trump’s call for the immediate evacuation of Tehran, escalating fears of conflict between Israel and Iran. Spot gold briefly rose 0.5% to surpass $3 400 an ounce before easing to $3 387.98. Investors turned to gold as a haven amid growing geopolitical tensions and uncertainty over Trump’s nuclear deal demands. The metal rose nearly 4% last week following Israel’s military actions against Iran. With prices now just $100 below April’s record, gold is on track for a sixth consecutive monthly gain - its strongest streak in over 20 years. (SOURCE: Bloomberg)
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How to Avoid Fighting Over the House - A Guide for Life Partners
As more and more couples elect to live together as life partners without formally marrying, our judicial system is increasingly faced with bitter disputes in the aftermath of failed relationships. Particularly when substantial assets like houses are in play, expensive and fraught litigation is the order of the day.
There’s an easy way to avoid all that unhappiness and hostility, which we explore through the woeful tale of a life partner who failed to convince the High Court to award him a 50% share in his former life partner’s house.
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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Change is the law of life. And those who look only to the past or present are certain to miss the future.
John F. Kennedy |
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| Dollar | R17.95
| + 0.27% | | Pound | R24.16 | - 0.22% | | Euro | R20.66
| + 0.66% | | Yen | 0.124209 | | | Repo | 7.25 |
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These rates are correct at time of going to press. | | Platinum | $ 1 264.10
| + 0.21% | | Gold | $ 3 381.90
| - 0.18% | | Oil | $ 76.35 | - 0.86% | | All Share | 94 657.86
| - 0.70% | | Prime | 10.75 | |
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