| WHEN PAYING FOR WEIGHT-LOSS DRUGS IS NOT ENOUGH |
The weight loss revolution is well and truly underway, that is if you count popping a pill to help you shed the unwanted pounds. But there’s a caveat, one that comes with a subscription model that attempts to short-circuit common sense with advice at a monthly cost a touch under R300. At issue is Discovery Vitality charging R295 a month for HealthyWeight, offering nutrition, lifestyle and behaviour-change support alongside increasingly popular GLP-1 medicines such as Ozempic, Wegovy and Mounjar.
On the face of things, the rationale is perfectly sensible: while drugs can produce substantial weight loss, keeping it off requires more than medication. But there’s delicious irony about paying thousands of Rand a month for a drug, then another R295 to be told that diet, exercise and lifestyle matter, as if that’s a revelation. Small comfort is that the dietitian is available on WhatsApp.
The back story is that the pivot towards health is underpinned by medical aid funds increasingly looking to their members to fund their costs. Both Discovery and Momentum are imposing premiums way above the recommended 3.7% increases. (see below).
The message is clear: as healthcare costs increasingly shift towards members, taking greater responsibility for your own health is becoming not just sensible, but financially necessary. A healthy weekend to all! Derek Alberts (editor) |
| BUSINESSES URGED TO MAKE A SPLASH FOR PINKDRIVE |
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Regaled in pink, a cohort of "eight-milers" at the Midmar Mile is getting ready for next Friday's Swimathon.
Businesses are being invited to make a splash by supporting a unique local swimming fundraiser that combines community spirit, friendly competition and a powerful charitable cause. More than 200 swimmers are expected at the 14th annual Charity Swimathon on Friday, 16 October, at the GC Jolliffe Pool in Pine Street, raising funds for PinkDrive. Organised by a group of aQuelle Midmar Mile “eight-milers”, the event offers businesses an opportunity to back a worthwhile cause while gaining visibility through lane sponsorship and advertising around the pool.
"The focus is a fun-filled, friendly, family fundraiser, said Catherine Bassage on behalf of the organising committee. “As it is a team event, we encourage everyone to participate regardless of their swimming ability. Those who like a little competition can challenge each other to be the top fundraisers and complete as many lengths as possible in the allocated 30 minutes,” she said.
For sponsorship or other queries, contact Bassage on 082 543 0027 or at cccc@lantic.net. To enter a team contact swimathonpinkdrive@gmail.com or WhatsApp 064 724 4542.
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| GET CREATIVE, DESIGN AND MAKE YOUR OWN LEATHER ARMBAND |
Get creative at the Criss Cross Leather Collective, under the auspices of the Pietermaritzburg and Midlands Chamber of Business, for a hands-on leather armband workshop on 7 October. Choose from bold prints including leopard, zebra and floral, then cut, emboss and snap your own design together. No experience needed - all leather, tools and guidance are provided. Seats are limited for the opportunity to create a one-of-a-kind leather armband at R175. For group bookings, contact trademanager@pmcb.org.za.
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2003: Writer J.M. Coetzee was awarded the 2003 Nobel Prize for Literature.
Elsewhere, in 1958, the west African nation of Guinea declared its independence from France.
It’s World Habitat Day and also International Day of Non-Violence.
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ETHEKWINI SEWAGE RULING PUTS MSUNDUZI ON NOTICE
A landmark KZN High Court ruling in Pietermaritzburg holding eThekwini accountable for persistent sewage failures sends a pointed warning to the Msunduzi Municipality as it grapples with its own wastewater and infrastructure problems.
The court found eThekwini had no reasonable prospects of successfully appealing an order requiring it to address untreated sewage spills, publish weekly E. coli readings and produce a detailed plan to repair failing wastewater treatment infrastructure. The case is significant beyond Durban. It confirms that municipalities face enforceable legal obligations to maintain wastewater systems, protect water resources and safeguard residents from environmental harm.
For Msunduzi, the judgment underlines the potential consequences of allowing sewage problems to remain unresolved. Infrastructure constraints, financial pressures and operational difficulties may explain service failures, but they do not remove statutory obligations. (SOURCE: Moneyweb)
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RAND SURRENDERS GAINS TO MIGHTY DOLLAR, GLOBAL YIELDS
The Rand weakened past R16.70/$ yesterday, reaching its lowest level since July, before recovering slightly to currently trade around R16.67. The latest move reflects renewed Dollar strength and higher global bond yields, with international investors favouring US assets. Citadel Global’s Bianca Botes said the Rand had surrendered recent gains as rising yields pressured emerging-market currencies. US jobless claims, manufacturing data and Federal Reserve comments are now in focus for clues on interest rates and the dollar. Oil prices are also being watched amid concerns that the US-Iran conflict could intensify inflationary pressure. Goldman Sachs has delayed its expected next US rate hike to December. (SOURCE: Moneyweb/Bloomberg)
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... AS OVERSOLD JSE SHEDS R161 TRILLION IN SEPTEMBER
South Africa’s benchmark ROUTstock index entered technically oversold territory after September’s sharp selloff erased more than R1.61 trillion ($97 billion) in market value. The FTSE/JSE Africa All-Share Index fell 6.7% last month, while precious-metal miners plunged more than 17%. Its 14-day relative strength index dropped below 30, the first time since April 2025, indicating heavy selling. Nordea portfolio manager Robert Naess said a technical bounce was possible, but a sustained recovery would depend on a weaker Dollar, lower real yields, stronger gold prices and China’s economic performance. (SOURCE: Bloomberg)
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MANUFACTURING SECTOR REBOUNDS ON HIGHER DEMAND, ACTIVITY
South Africa’s manufacturing sector returned to expansion territory in September, with the Absa Purchasing Managers’ Index rising 4.9 points to 50.7. A PMI above 50 indicates expansion, while below 50 signals contraction. New sales orders rose 10.5 points to 50.8, signalling increased demand, while business activity improved sharply to 49.3 from 40.2, remaining just below expansion territory. However, the employment index fell to 43.1 from 46.2, indicating continued job losses or weaker hiring. Durban harbour delays and higher freight costs kept the supplier deliveries index elevated at 58.4, but Absa said this reflected logistics disruptions rather than stronger demand. Purchasing price pressures also increased, with the index rising to 71.1. (SOURCE: Engineering News)
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FOOD INFLATION ON THE RISE AFTER 6-MONTH REPRIEVE
South African food inflation rose in August, ending six consecutive months of decline and adding pressure to household budgets. The Bureau for Food and Agricultural Policy said annual food and non-alcoholic beverage inflation increased to 1.1%, from 0.9% in July, while monthly inflation turned positive at 0.1%. Fish and seafood recorded the highest annual increase at 7.5%, followed by non-alcoholic beverages at 4.9%. The Thrifty Healthy Food Basket cost R3,935, up 0.94% year on year but down R30 month on month. BFAP warned that fuel and fertiliser costs, geopolitical tensions and a potential El Niño cycle could raise food-price pressures into 2027, although substantial food stocks may provide some protection. (SOURCE: Engineering News)
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... AS FUEL COSTS SET TO CRIMP HOUSEHOLD SPENDING
Nedbank expects South African household consumption growth to slow to about 2.1% this year from 3.6% in 2025, as higher fuel costs bite, economist Chrystal Huntley said. Brent crude has at times topped $100 a barrel amid the US-Iran conflict, and rising transport and operating costs could feed into goods prices. Consumers are expected to prioritise essentials and seek cheaper alternatives. Nedbank forecasts economic growth of 1.1% and inflation peaking near 5.6%. Another 25 basis point rate hike in November is possible if oil stays high and the rand weakens. Context: the Reserve Bank raised rates by 25 basis points on 23 September, the economy contracted 0.2% in the second quarter, and it cut its 2026 growth forecast to 1.2%. (SOURCE: FreightNews)
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DISCOVERY, MOMENTUM HIKE PREMIUMS WELL ABOVE RECOMMENDED 3.7%
Discovery Health and Momentum Health are raising medical scheme contributions by substantially more than the industry’s recommended rate in 2027, putting further pressure on members’ healthcare budgets. Discovery’s increases will average about 9.5%, while Momentum’s schemes will rise by roughly 7.5%, depending on the option selected. Both are well above the Council for Medical Schemes’ recommended benchmark of 3.7%. The insurers cited rising healthcare costs, including hospital, medicine and specialist expenses, as key drivers. Discovery also pointed to claims experience and benefit enhancements. Members will pay more from January, with the final increase varying according to their medical scheme option and plan. (SOURCE: News24)
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GODONGWANA DEFENDS PIC’S R162 BILLION UNLISTED HOLDINGS
Finance Minister Enoch Godongwana has ruled out scrapping the Public Investment Corporation’s unlisted investments of about R162 billion - roughly 5% of its total assets - reaffirming its developmental role despite growing scrutiny over governance. The PIC manages more than R3 trillion in public-sector assets and invests in areas including infrastructure, private equity and development projects. Godongwana’s position comes amid concerns about the risks, transparency and oversight surrounding investments outside listed markets. He has backed the PIC’s mandate while emphasising the importance of stronger governance and accountability. The debate highlights the tension between using public funds to support economic development and ensuring investment decisions deliver appropriate returns while meeting fiduciary responsibilities to beneficiaries. (SOURCE: BDLive)
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MALAYSIAN BILLIONAIRE TAKES 10% STAKE IN CANNABIS GROUP
Malaysian billionaire Lim Kuang Sia has acquired a 10% stake in JSE-listed medicinal cannabis group Cilo Cybin for about R22 million. Kuang Sia, founder of rubber glove manufacturer Kossan Rubber Industries, joins the company as it expands its medicinal cannabis operations and international market opportunities. The deal comes as South Africa develops its cannabis industry, with growing interest in cultivation, processing and exports. Cilo Cybin listed on the JSE in 2024 as a cannabis-focused special purpose acquisition company before moving to the Main Board. The transaction gives Kuang Sia exposure to South Africa’s emerging medicinal cannabis market and Cilo Cybin’s growth plans. (SOURCE: BDLive)
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ZIMBABWE PAYS R8.5 BILLION TO DISPOSSESED FARMERS
Zimbabwe has paid $508 million (about R8.5 billion) to former white farmers whose land was seized during the country’s controversial land reforms, as the government seeks to restore access to international capital markets. Deputy Finance Minister Kudakwashe Mnangagwa said $12.6 million was paid in cash, with the remainder settled through Dollar-denominated bonds. The government agreed in 2020 to compensate affected farmers $3.5 billion, later revising the arrangement to include bonds. The land seizures displaced about 4,000 farmers and triggered international sanctions. Zimbabwe says resolving compensation claims is part of efforts to rebuild relations with the international community and regain market access. (SOURCE: Bloomberg)
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DEVELOPMENT BANKS ON A MISSION TO MOBILISE PRIVATE CAPITAL
Thirty major development banks and finance institutions have moved to unlock more private capital for emerging markets, launching new guidelines to measure and encourage investment. The methodology updates rules first established in 2018 and follows years of G20-backed efforts to address developing countries’ financing needs. Members include the World Bank, African Development Bank, Asian Development Bank, Inter-American Development Bank and EBRD. The guidelines recognise newer tools, including collateralised loan obligations and significant risk transfers, which shift credit risk to private investors and free development banks’ capital for additional lending. The World Bank attracted $112 billion in private capital in the year to June, up 60% year on year. (SOURCE: Reuters)
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US TRADE COMMISSION LAUNCHES PROBE INTO AI RISKS
The US Federal Trade Commission has opened an investigation into OpenAI, Anthropic and other AI companies over potential consumer risks, amid growing concern about autonomous AI agents. The probe, launched this summer, includes the AI safety group METR, with formal demands for information and executive testimony reportedly being prepared. It follows incidents involving AI agents operating beyond intended boundaries, including OpenAI’s reported July breach of AI platform Hugging Face. The investigation comes as major AI companies face increasing scrutiny over safety claims and self-regulation. A recent poll found 73% of Americans are concerned about AI safety. (SOURCE: 1440)
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The point is not to pay back kindness but to pass it on.
Julia Alvarez |
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