| RETAILERS TARGET 'BATTLE OF BASKET' SAVINGS IN BLACK FRIDAY SHOOT-OUT |
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Retailers are priming their Black Friday offerings to lure cash-conscious consumers with a strong emphasis on groceries and essential items on the back of last week’s 0.25% interest rate relief, and softening food inflation. The retail shift is a move away from broad, sweeping discounts to targeted savings of 5–20% on key staples to appeal to households.
Relatively benign food inflation trends offer retailers some room for manoeuvre. According to the authoritative PMBEJD Group, the average cost of its 44-item Household Food Basket decreased by R27.07 (-0.5%), from R5 440 60 in October to R5 413 53 in November. Food prices in Pietermaritzburg at R5 074.29 are well below the average and the city’s basket is also the most affordable among the seven centres monitored with Durban next cheapest at .R5 305.74.
The weighted survey tracks prices at shops most frequented by low-income consumers. For a closer look at prices in Pietermaritzburg and how they compare with other centres, click here and scroll to page 13.
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| SOUTH AFRICANS ARE DOING BETTER THAN WE THINK WE ARE |
| KEEPING TRACK OF YOUR CREDIT IS GOOD FOR YOUR SCORE AND WALLET |
1976: The Christian Institute and South African Council of Churches headquarters were raided by police.
Elsewhere, in 1895, the Nobel Prizes were established by Swedish chemist, engineer, and industrialist Alfred Bernhard Nobel.
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RATE CUTS BRINGS SOME RELIEF TO FRAGILE HOUSEHOLD FINANCES
South African households have seen some relief following the May prime rate cut to 10.75%, reflected in the Altron FinTech Household Resilience Index (AFHRI) for Q2 2025, which showed a 2.3% year-on-year improvement. Fifteen of twenty indicators recorded positive trends, including employment growth (+0.5%), private-sector salaries (+0.7%), and a 14% rise in real unit trust values. Household disposable income increased by 2.3%, partly supported by the two-pot pension system, which generated R13-billion, stabilising post-spike lump-sum withdrawals.
Despite these gains, overall financial resilience remains fragile, with growth averaging just 0.2% annually since the interest-rate hiking cycle began, and GDP growth projected below 1.3% for 2025. Analysts warn that structural financial pressures persist, and further monetary easing and policy support are essential to restore long-term household stability, boost spending capacity, and create meaningful employment opportunities. (SOURCE: Engineering News)
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MUNICIPALITIES REJECT NERSA’S 12 DECEMBER TARIFF DEADLINE
Municipalities nationwide are protesting Nersa’s 12 December deadline for 2026/27 electricity tariff applications, arguing it is “virtually impossible” to meet. The regulator requires full cost-of-supply studies, council resolutions, and proof of public consultation - despite Eskom’s bulk tariffs, which make up 70%–75% of municipal electricity costs, only being finalised next year. Missing the deadline could delay tariff increases to 1 July 2027, a crippling revenue setback for councils reliant on electricity income. Consultants say councils would need to complete budget prep, 14-day public notices, and two council approvals in under four weeks. AMEU and Salga have formally objected. Nersa insists December submissions are needed to approve tariffs by 15 March, as required by the MFMA. (SOURCE: Moneyweb)
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STEENHUISEN ORDERS VACCINATION DRIVE FOR 7 MILLION CATTLE
Democratic Alliance leader John Steenhuisen has announced a nationwide foot-and-mouth disease vaccination campaign covering South Africa’s seven million cattle. The plan aims to stabilise the livestock sector after repeated outbreaks disrupted farmers, exports and rural economies. Steenhuisen said the blanket approach would restore confidence, protect food security and help reopen key international markets. The initiative, supported by veterinary experts, includes strengthened biosecurity and improved monitoring systems. Industry bodies have welcomed the move, saying it offers a decisive response to a long-running crisis that has cost producers heavily and strained provincial resources. (SOURCE: News24)
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TREASURY PILOTS PIONEERING INFRASTRUCTURE FINANCE BOND
The National Treasury has unveiled its first infrastructure and development finance bond, aiming to mobilise R15-billion - potentially more depending on investor demand - under the domestic borrowing programme. Proceeds will fund priority projects in energy, water, transport, and social infrastructure via the Development Bank of Southern Africa’s Infrastructure Fund. This bond forms part of reforms outlined in the 2024 and 2025 MTBPS, shifting government spending from consumption to long-term investment, while diversifying financing instruments. Treasury hopes the bond attracts infrastructure-focused investors at favourable rates, enhancing capital efficiency, transparency, and predictable funding. Absa and Tysys Capital Group are appointed as co-arrangers for the transaction. (SOURCE: Moneyweb)
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DIGITAL INITIATIVE TO BOOST TOWNSHIP ENTERPRISES
The UNDP in South Africa has launched DIME (Digital Innovation for Modernising the Independent Economy), a digital platform enhancing food safety, traceability, stock management, and e-payments for township retailers. Anchored by the Sphazamisa app, the initiative provides spaza shops with digital identities, IoT-enabled monitoring, and municipal dashboards, improving compliance and public health oversight. The first phase rolls out in Gauteng, targeting a R1 trillion independent economy. DIME also offers financial literacy, access to structured supply chains, and pathways to credit. Youth and women digital ambassadors support adoption. UNDP aims to scale DIME nationally, strengthening visibility, resilience, and investment-readiness across South Africa’s township enterprises. (SOURCE: Engineering News).
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TIGER BRANDS PROFITS JUMP ON VOLUME GROWTH
Tiger Brands posted a 31% increase in full-year earnings, driven by strong volume growth and improved operating margins despite muted consumer spending. Headline earnings per share rose to R21.41 from R16.31, while group revenue climbed 2.7% to R34.4-billion, supported by 3.5% volume growth. Second-half volumes grew 5.7%, with Milling and Baking up 5.3%. Operating income surged 35% to R3.8-billion, lifting margins to 11.1%. A special final dividend of R27.10 per share was declared. CEO Tjaart Kruger highlighted continued focus on consumer value amid ongoing household budget pressures. (SOURCE: SENS)
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ABSA COMMITS R1.7 BILLION TO BOOST AFRICAN RENEWABLES
Absa Corporate and Investment Banking has approved a financing package of up to $100 million (abour R1.7 billion) for CrossBoundary Energy to accelerate renewable power projects across Africa. The package includes subordinated debt, an equity bridge loan and senior debt, supporting CBE’s equity needs, long-term financing and early procurement for solar and battery developments. CBE, a major private power provider to mines and industry, will use the funding to advance its solar-and-battery baseload project for Kamoa Copper, Africa’s largest copper mine in the DRC. Absa says the partnership strengthens the continent’s energy security and supports a just energy transition. (SOURCE: Moneyweb)
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DATA CENTRE BOOM DEMANDS ENERGY INFRASTRUCTURE SPEND
Coface warns that for every $1-billion invested in AI-focused data centres, about $125-million must be spent on energy infrastructure - two-thirds for grid upgrades and one-third for generation capacity. Global AI data-centre expansion, with $475-billion in IT equipment this year, faces delays from energy saturation, risking $750-billion in projects by 2030. South Africa, a key African hub, confronts grid instability, water scarcity, rising operational costs, and talent shortages, amplifying risks for local operators. Coface urges proactive planning to manage constraints, ensure reliable electricity, and align AI investment with sustainable economic gains while mitigating potential overcapacity, cost, and supply-chain shocks. (SOURCE: Engineering News) |
GOLD GAINS ON SOFTER DOLLAR, RATE CUT TALK
Gold climbed to $4 164/oz, rising 0.8% in Asian trade as the Dollar slipped for a second session and markets priced in an 80% chance of a US rate cut in December. Softer retail sales and a sharp drop in consumer confidence strengthened expectations that the Federal Reserve will ease policy. Analysts say Fed frontrunner Kevin Hassett’s support for lower borrowing costs is reinforcing bullish sentiment. Gold has held above $4 000/oz after last month’s peak above $4 380, and is up more than 55% this year - on track for its best annual performance since 1979 - driven by central-bank buying and “debasement trade” demand. (SOURCE:Bloomberg)
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TRUMP BARS SOUTH AFRICA FROM G20, REPEATS DEBUNKED CLAIMS
US President Donald Trump says South Africa will not be invited to the 2026 G20 summit in Miami, citing Pretoria’s refusal to hand over the presidency baton at last week’s Johannesburg gathering, which Washington boycotted. The G20 still adopted its declaration on climate and global challenges despite US objections, prompting accusations that South Africa had “weaponised” its leadership. Trump repeated discredited claims about white farmers being persecuted. South Africa’s presidency has not yet commented. The move marks a sharp diplomatic escalation and leaves Pretoria sidelined from a forum representing more than 80% of global GDP and trade. (SOURCE: Reuters)
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Let us not go back in anger or forward in fear, but around in awareness.
Kevin Kelly |
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| Dollar | R17.10 | + 0.17% | | Pound | R22.70
| - 0.10% | | Euro | R19.85
| + 0.10% | | Yen | 0.109806 |
| | Yuan | R2.41 | + 0.21% | | Bitcoin | $ 91 374.50 | + 1.35% |
These rates are correct at time of going to press. | | Platinum | $ 1 614.95
| + 1.72% | | Gold | $ 4153.04 | - 0.25% | | Oil | $ 62.18
| - 0.27% | | All Share | 111 862.71 | + 1.42% | | Repo | 6.75 | | | Prime | 10.25 | |
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