| STANDING UP TO RACE BAITING, PET PARENTING, DIRTY CADRES |
Hats off to David Masondo, chair of the Public Investment Corporation, for tackling head-on the cheap trick of labeling people as anti-black when they stand up for accountable and transparent governance. In a similar vein as the infamous “white monopoly capital” insult, at issue are slurs against the PIC for holding to account individuals and entities undermining its efforts to manage the R3 trillion Government Employees Pension Fund that, as Masondo points out, is funded by 90% of black South Africans - teachers, nurses, police officers, public servants - to ensure a comfortable retirement. Not that Masondo is intimidated as his stinging rebuke of those who frame economic emancipation in slogans, not outcomes, shows.
On a different tack, pet parents are advised to check the production dates and batch numbers of contaminated cat and dog food brands, including Bobtail and Catmor, following a nationwide recall. The affected food, manufactured by JSE-listed RCL, was apparently condemned but somehow made its way into the retail distribution networks to highlight ongoing challenges in quality control and regulatory compliance in the pet food industry. See here for the warning by RCL and a download of the affected batches.
Finally, on an “only if” note, the ANC-led Msunduzi Municipality sabotaged a pioneering proposal to convert toxic methane gas into electricity at the New England landfill many years ago. To see how a similar project is doing just that in Cape Town, and how we’re missing out thanks to the blinged cadre class, click here.
Thoughts to people trapped in the Mideast tragedy, see you on Monday. Derek Alberts (editor)
Also see below: 25 729 Polo Vivos recalled over handbrake safety |
| LADY LUCK SMILES ON GENEROSITY OF WORKPLACE-GIVING STAFF |
CWC Lucky Draw Winner Simangele Zanele Hadebe is flanked by Sma Sokhela (Community Chest) and Lisa Wimble of Hayfields Kwikspar.
An ecstatic Simangele Zanele Hadebe of Hayfields Kwikspar was over the moon after winning Community Chest’s Charitable Workers’ Club (CWC) Lucky Draw on 20 February 2026. Automatically entered as a signed-up member in good standing, Hadebe walked away with a R500 shopping voucher sponsored by Liberty Midlands Mall and a fruit hamper from Fresh Simplicity.
The CWC operates through a workplace-giving initiative that allows employees to contribute small weekly or monthly donations to charity. Individually modest, these pooled contributions make a meaningful impact. Each quarter, one or more members are rewarded for their generosity, celebrating the power of collective giving. Contact Angie on chestpro@communitychest.org.za for more information on how to join the CWC initiative. |
| NEVER MIND AI CHEATING, DUMBING DOWN EDUCATION MATTERS MORE |
2006: Tsotsi won the gong for the best foreign film at the Oscar awards in Hollywood.
1957: Ghana became the first African country to gain independence from colonial rule.
On this day in 1967, the defection of Soviet dictator Stalin's daughter, Svetlana Alliluyeva, to the US caused an international uproar.
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STRUGGLING RAND LOSING GROUND TO DOLLAR IN MIDEAST TURMOIL
The Rand continued its decline against the US Dollar amid heightened global risk aversion, geopolitical tensions, and rising oil prices. The Rand slipped below the critical R16.50/$, pressured by investors seeking safe-haven assets, and is currently trading at R16.58/$.
The US Dollar strengthened to multi-month highs, supported by expectations of resilient economic growth and potential interest rate differentials. Commodity-linked gains for the Rand, including gold and platinum, offered only limited support as risk-off sentiment dominated markets.
Analysts warn that continued uncertainty in the Middle East and strong Dollar flows could prolong the Rand’s weakness. Short-term forecasts suggest the currency may test R16.60–R16.70/USD if external pressures persist, with modest relief possible only if oil prices ease or global risk appetite returns. (SOURCE: News24/Reuters)
See below: MSC imposes 'war surcharge" on African shipping routes |
... AS RISING OIL PRICES FUEL INFLATIONARY PRESSURES
Finance Minister Enoch Godongwana warned that sustained higher oil prices from Middle East conflict could fuel inflation in South Africa. Brent crude has surged almost 16% this week, as shipping through the Strait of Hormuz - a key route for one-fifth of global oil - slowed dramatically. Godongwana noted South Africa is a “price taker” for petroleum imports, meaning international price swings directly affect domestic costs. While inflationary pressures may rise, government buffers are expected to support debt-consolidation plans. Analysts caution that prolonged conflict could exacerbate energy costs, reduce consumer spending, and weigh on economic growth. (SOURCE: Bloomberg)
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MANTASHE PUNTS LOCAL FOCUS TO PREVENT GAS CLIFF
South Africa can avoid the looming “gas cliff” if it accelerates exploration and development of domestic gas resources, according to Gwede Mantashe. Speaking at the Africa Gas Forum alongside the Africa Energy Indaba in Cape Town, Mantashe said the country has sufficient untapped reserves that could reduce reliance on imports. South Africa currently depends heavily on declining gas supplies from Mozambique’s Pande and Temane fields. Government plans include a two-pronged strategy of short-term imports and long-term domestic development, with support from companies such as Sasol to bridge potential supply gaps after 2028. (SOURCE: BDLive)
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... AS DUTCH INVESTOR HOLDS OFF LNG TERMINAL DECISION
Plans for South Africa’s first liquefied natural gas terminal have been delayed after Dutch-based Vopak postponed its final investment decision to 2028. Vopak was selected in 2024 as part of a consortium with Transnet Pipelines to build and run the proposed R16.5 billion Zululand Energy terminal at Richards Bay port for 25 years. Progress slowed after a court ruling halted Eskom’s planned 3,000 MW gas-to-power plant, a key potential customer. The terminal, initially expected to import two million tonnes of LNG annually, may supply firms including ExxonMobil once agreements are finalised. The announcement was made during the African Energy Indaba. (SOURCE: Bizcommunity)
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OLD COAL STATIONS DESTINED FOR NUCLEAR ROLE
Eskom plans to repurpose ageing coal-fired power stations - including Koeberg Power Station, Majuba Power Station, and Kriel Power Station - for new nuclear development. The strategy targets small modular reactors or other nuclear technologies to replace retired coal units, potentially generating 800–1,000 MW per site. Using existing sites could cut construction costs by up to 30% while reducing environmental impact. Regulatory approval, financing, and technology choice remain key. This approach supports South Africa’s energy diversification, strengthens baseload supply, and aligns with national emissions-reduction targets, with initial projects expected in the late 2020s. (SOURCE: News24)
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25 729 POLO VIVOS RECALLED OVER HANDBRAKE SAFETY
More than 25 000 Volkswagen Polo Vivo vehicles have been recalled nationwide after a safety concern involving the handbrake mechanism. The recall was issued by the National Consumer Commission after notification from Volkswagen Group Africa. A total of 25 729 units sold between February 2025 and February 2026 may have a rivet height on the handbrake lever outside specification, potentially preventing proper engagement or causing rare unexpected release. Acting commissioner Hardin Ratshisusu urged owners to have vehicles inspected at authorised dealerships, where checks and repairs will be carried out free of charge to ensure driver and passenger safety. (SOURCE: BDLive)
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R40 BILLION HEMP INDUSTRY UP IN SMOKE ON POOR PLANNING
South Africa could miss out on a hemp industry worth about R40 billion by 2040 without a clear national strategy, according to a study commissioned by the Localisation Support Fund with partners including the Industrial Development Corporation and the Department of Trade, Industry and Competition. The report says regulatory uncertainty and limited market coordination are discouraging investment. Demand for hemp products is estimated at R7.3 billion in 2024, potentially rising to R17.7 billion by 2030. Government ambitions, backed by Cyril Ramaphosa, hinge on clearer rules, stronger supply chains and guaranteed markets. (SOURCE: BDLive)
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BRAZEN LAND BANK HACKERS DEMAND R5.4 MILLION BITCOIN RANSOM
Hackers demanded about R5.4 million in bitcoin after breaching parts of the Land Bank computer systems, but no ransom was paid, finance minister Enoch Godongwana told MPs. The cyberattack, detected in January, involved ransomware that encrypted some servers and laptops after attackers exploited a vulnerability on an internet-facing server. Critical systems, including core banking, enterprise resource planning and customer relationship management platforms, were not compromised. Transactions were temporarily restricted while investigations continued. Authorities including the police, the Information Regulator and the State Security Agency were notified as security upgrades were implemented. (SOURCE: BDLive)
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... AS FSCA WARNS ABOUT DODGY SOCIAL MEDIA INVESTMENT SCAMS
The Financial Sector Conduct Authority has alerted South Africans to fraudulent investment schemes impersonating PSG Invest. An individual claiming to represent the firm, identified as Sizwe Mbelu, reportedly solicits deposits of R1 000 via WhatsApp and social media, promising unusually high returns. PSG Invest confirmed no affiliation with the person. The FSCA verified the claims and urged the public to exercise extreme caution with unsolicited investment offers, particularly online. Authorities warn that falling for such scams can result in financial loss, emphasizing that legitimate firms do not pressure deposits through social messaging platforms. (SOURCE: News24)
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... AND NPA MOVES ON 'BRIBE IN DIOR BAG' ACCUSED
The National Prosecuting Authority has appointed a senior state advocate to prioritise a bribery investigation involving former Independent Development Trust head Tebogo Malaka and spokesperson Phasha Makgolane. The probe follows video footage published by Daily Maverick allegedly showing an offer of R60 000 in a Dior bag to journalist Pieter-Louis Myburgh to halt an investigation. Police say the case is still under investigation and not yet trial-ready. The alleged bribery attempt was reportedly linked to a controversial Expanded Public Works Programme contract involving businessman Collen Mashawana. (SOURCE: Daily Maverick)
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CURTAIN COMES DOWN ON COSTLY SHOWMAX
Showmax will be discontinued after more than a decade as part of a strategic shift by parent MultiChoice, now owned by Canal+. The decision comes after years of rising content and technology costs that outpaced revenue, making the standalone platform’s losses unsustainable. Despite subscriber growth across its 44‑country footprint, high production, licensing and infrastructure expenses have pressured profitability, reflecting broader trends in the global streaming industry away from “growth at all costs” toward scalable, financially sustainable models. Showmax plans to wind down operations while MultiChoice focuses on a unified, large‑scale digital offering. (SOURCE: News24)
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GLOBAL ECONOMY FACES INFLATION, GROWTH PRESSURE
A widening conflict in Iran has pushed oil prices higher, prompting Goldman Sachs to warn of risks to global growth and inflation. Under its baseline forecast, oil may average $76/bbl in early 2026, rising to $65/bbl by year-end, with a modest 0.1% drag on global GDP and a 0.2% boost to headline inflation. In an upside scenario, prices could spike to $100/bbl, increasing inflation by 0.7% and potentially delaying rate cuts in emerging markets. Higher costs may hurt consumer spending, while exporters like Canada could benefit. Central banks may tighten modestly if shocks persist. (SOURCE: Reuters) |
... AS MSC IMPOSES 'WAR SURCHARGE' ON AFRICAN SHIPPING ROUTES
Shipping giant MSC has announced a “war surcharge” on cargo shipments to African nations and Indian Ocean islands due to disrupted maritime traffic in the Straits of Hormuz and Bab El-Mandeb. Effective immediately, shipments from the Indian subcontinent to East Africa, Somalia, Mozambique, and regional islands will incur $500 (about R8 300) per 20-foot dry container and $1 000 per refrigerated container. Cargo from Gulf nations to West, East, South Africa, and islands will face charges of $2,000–$4,000 per container depending on size and type. MSC cited geopolitical tensions and navigational risks as the rationale. (SOURCE: Reuters) |
... AND GLOBAL JET FUEL PRICES SOAR TO ALL-TIME HIGH
Global jet fuel prices surged amid supply disruptions, S&P Global Platts reported. Singapore’s jet fuel hit an all-time high of $231.42 (about R3 840) per barrel, while Northwest Europe prices climbed to $1,259.75 per ton, the highest since the Russia-Ukraine war began. In the US Gulf Coast benchmark prices rose 11.4% to 348.63 cents per gallon, marking the highest levels since October 2022. Analysts attribute the surge to constrained refining capacity, logistical bottlenecks, and geopolitical tensions affecting crude flows. Airlines face rising operational costs, potentially translating to higher airfares, while the market monitors further supply disruptions closely. (SOURCE: Engineering News) |
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I believe in human-centered AI to benefit people in positive and benevolent ways.
Fei-Fei Li |
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| Dollar | R16.56 | + 0.48% | | Pound | R22.14 | + 0.38% | | Euro | R19.21 | + 0.56% | | Yen | 0.105140 |
| | Yuan | R2.40 | + 0.62% | | Bitcoin | $ 70 861.12 | - 0.38% |
These rates are correct at time of going to press. | | Platinum | $ 2 154.00
| + 1.24% | | Gold | $ 5 111.97 | + 0.60% | | Oil | $ 84.89
| + 1.20% | | All Share | 120 165.10
| - 0.06% | | Repo | 6.75 | | | Prime | 10.25 | |
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