| LEAN FORUM PROBES AI EFFICIENCY, INNOVATION IN WORKPLACE |
Participants at last week's Lean Forum hosted at the PMCB offices.
Last week’s Lean Forum, led by Training Leadership Consulting (TLC), attracted professionals and continuous improvement enthusiasts to the Pietermaritzburg and Midlands Chamber of Business. The dynamic session focused on “Exploring the Role of AI in the Workplace,” highlighting how artificial intelligence can enhance Lean practices, streamline processes, and support informed decision-making. Participants engaged in peer learning, exchanging insights on both opportunities and challenges of integrating AI into business improvement strategies. The forum offered a collaborative platform for networking and knowledge sharing, reinforcing Lean principles alongside digital transformation to cultivate a culture of continuous improvement, efficiency, and workplace innovation amid evolving business landscapes. |
| FOUR SMART WAYS TO TRIM AI’S ENVIRONMENTAL COSTS |
| TRANSFORM ALIEN WOOD INTO AWARD-WINNING FURNITURE |
The 2025 Furniture Design Competition, part of the DTIC’s skills and innovation drive, strongly involves KZN institutions. SAFI is partnering with Durban University of Technology and the University of KZN to promote the Furniture Designer qualification and connect designers with national opportunities. This year’s theme, “Alien Invasive Species of Wood,” challenges participants to craft indoor or outdoor furniture using pine, gum, wattle, or poplar. Submit designs by 30 September for mentorship, exposure, and prizes. Designers are encouraged to showcase creativity and cultural inspiration. Enter here.
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1964: South Africa was banned from the Olympic Games.
Elsewhere, the 19th Amendment was ratified by a single vote to finally allow women in the United States the vote.
On your bike, it’s International Delivery Rider Appreciation Day.
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Q2 GDP EXPANDS DESPITE TARIFFS, JOBS PRESSURE
South Africa’s economy likely expanded for a third consecutive quarter, driven by recoveries in manufacturing and mining. Bloomberg analysts project second-quarter GDP growth of 0.4%, up from 0.1% in Q1, with some economists, like Old Mutual’s Johan Els, expecting 0.8%. Mining benefitted from rising commodity prices, including platinum and palladium, partially fueled by international buyers reacting to US-imposed tariffs. These tariffs, including a 30% levy on South African exports, threaten automotive and agricultural sectors, potentially affecting 30 000 jobs.
Unemployment reached a year-high of 33.2%. Retail sales grew 0.9% due to interest rate cuts, but consumer spending may remain constrained by elevated utility costs. Analysts warn that growth could slow in the second half of 2025 amid trade tensions. (SOURCE: Bloomberg)
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… AS JULY INFLATION SET TO SPIKE ON FUEL, FOOD PRICES
South Africa's July inflation is expected to surge to 3.7% year-on-year, reflecting sharp increases in fuel, food, and municipal tariffs. The anticipated rise marks the start of a renewed upward trend in consumer price pressures, likely to persist into the second half of 2025. Analysts warn this resurgence could dampen hopes for near-term interest rate cuts, as the Reserve Bank remains vigilant against persistent inflationary risks. The upcoming CPI report will be closely watched by markets and policymakers to gauge direction in monetary policy. A sustained inflation climb could prompt the central bank to continue its cautious stance, balancing price stability and growth. (SOURCE: Bloomberg) |
COURT SLAMS ‘ARROGANT’ ITHALA BOARD IN REGULATORY SHOWDOWN
A full bench of the Pietermaritzburg High Court sharply condemned the board of Ithala Bank, branding its conduct during the protracted dispute with the Prudential Authority as arrogantly dismissive of regulatory oversight. The state-owned KwaZulu-Natal bank - now under administration - has been embroiled in governance and compliance issues. The court’s scathing remarks signal growing judicial frustration over the board’s resistance to accountability. The ruling not only underscores the authority of financial regulators but also heightens scrutiny on the bank’s future. As Public Enterprise taboos around state institutions persist, the judgment sends a clear message: regulatory mandates and statutory obligations cannot be sidestepped, even by publicly backed entities. (SOURCE: BDLive) |
FINTECH FACES TOUGH ENTRY TO NATIONAL PAYMENT SYSTEM
The SA Reserve Bank is preparing reforms to open the national payment system (NPS) to non-bank players, including fintechs, but with tough safeguards to protect consumers and financial stability. Applicants must prove robust governance, risk controls, data protection, and compliance with anti-money laundering and terrorism financing laws, as SA prepares to exit FATF’s greylist. Firms will need detailed business plans, transparent pricing, and disclosure of ownership and funding structures. Though exempt from Banks Act regulation, fintechs will remain under Reserve Bank supervision, subject to inspections, reporting, and possible corrective action. (SOURCE: BDLive) |
FOOT-AND-MOUTH CRISIS DISRUPTING LIVESTOCK SECTOR
South Africa’s red meat industry faces a severe crisis as foot-and-mouth disease (FMD) spirals out of control. The Red Meat Producers Organisation (RMPO) has expressed grave concern over the escalating outbreak, describing the situation as "totally out of control." The disease, which affects cloven-hoofed animals like cattle and pigs, has led to widespread panic and significant disruptions in the livestock sector. In response, authorities are implementing stringent measures, including quarantine zones and movement restrictions, to contain the spread. Despite these efforts, the RMPO warns that the situation remains dire, with the potential for further economic and food security implications if not urgently addressed. (SOURCE: News24) |
… AS TAU SWEETENS SOME OF SUGAR INDUSTRY’S PAIN
Trade, Industry & Competition Minister Parks Tau has introduced a regulatory leniency aimed at preserving jobs in South Africa’s flagging sugar industry, which has lost around 65 000 positions over the past five years. The new exemptions allow industry players to collaborate on pricing strategies and procurement, boosting efforts to source raw sugar locally. This move is the latest in a series of measures intended to shore up struggling sectors, though critics caution it risks fostering dependency rather than encouraging productivity improvements. Shifting consumer demand and global oversupply remain structural challenges. Proponents argue that such “sweetener” policies are necessary to prevent further job losses, while balancing longevity with economic sustainability remains the industry’s core challenge. (SOURCE: BDLive) |
GLOBE-TROTTING MINISTERS' COSTS SOAR 10-FOLD TO R273 MILLION
South Africa’s Cabinet ministers have incurred over R273 million in travel expenses since the start of the seventh administration, marking a staggering ten-fold increase. This sharp rise in state travel, revealed in departmental disclosures, starkly contrasts with the government's austerity messaging and highlights an expanded diplomatic footprint amid global volatility (BusinessLIVE). The spike not only surpasses any post-apartheid travel surge but also raises concerns about budget priorities. As domestic economic pressures mount, critics argue the ballooning travel costs send the wrong signal - particularly during times when citizens face rising living costs and constrained public resources. (SOURCE: BDLive) |
COMPCOM APPROVES R23.3 BILLION BARLOWORLD TAKEOVER
The Competition Tribunal has approved the R23.3 billion takeover of Barloworld by Newco, a consortium comprising CEO-linked construction firm Entsha and Saudi Arabia’s Gulf Falcon Holding. Approval comes with public interest conditions, including a two-year freeze on retrenchments and retention of existing employee terms. The deal mandates a two-phase empowerment program granting historically disadvantaged persons (HDPs) and employees a collective 13.5% stake. Phase 1 assigns 3.5% to the Barloworld Empowerment Foundation immediately, while Phase 2 allocates 10% to an employee share ownership plan and a women-led HDP consortium within 24 months of delisting. Compliance will be monitored by the Competition Commission. (SOURCE: Moneyweb). |
STARLINK SUPPORTS B-BBEE, BAULKS AT 30% EQUITY
Starlink, the satellite internet service owned by SpaceX, has expressed support for South Africa's Broad-Based Black Economic Empowerment (B-BBEE) policies but opposes the stipulation that communications licensees must be 30% owned by historically disadvantaged groups. While the company acknowledges the importance of transformation, it believes that the equity requirement is a barrier to entry for foreign firms. The South African government is considering alternative compliance measures, such as equity equivalent investment programs (EEIPs), which would allow companies to contribute to transformation in other ways. The proposal has received mixed reactions, with some industry players welcoming the flexibility, while others express concerns about potential loopholes. (SOURCE: NEWS24) |
TOYOTA GEARS UP FOR 2026 LAUNCH OF THREE EVS
Toyota plans to introduce three fully electric vehicles (EVs) in South Africa by early 2026, marking its entry into the country's emerging EV market. Currently, Toyota leads the hybrid market with a 67% share, but has yet to release a fully electric model. The South African EV market is currently dominated by European brands like Volvo, BMW, and Mercedes-Benz, with increasing competition from Chinese automakers such as BYD. Toyota aims to offer a diverse range of powertrains, including hybrids, plug-in hybrids, battery electric vehicles, fuel-cell electric vehicles, and potentially carbon-neutral internal combustion engines. (SOURCE: Reuters) |
PERPLEXITY IN R607 BILLION BID FOR GOOGLE CHROME
Perplexity AI made a $34.5 billion (about R607 billion) unsolicited cash offer for Google Chrome, seeking access to its over three billion users to compete in the AI search market. The three-year-old company, valued at $14 billion, pledged to keep Chromium open source, invest $3 billion over two years, and maintain Chrome’s default search engine. Google, which plans to appeal a US antitrust ruling, has not offered Chrome for sale. Analysts say a sale is unlikely, with legal battles potentially lasting years. The bid reflects browsers’ renewed importance as gateways to AI-driven search traffic and user data. (SOURCE: Reuters) |
GLOBAL CURB TO PLASTIC POLLUTION COLLAPSES AMID SQUABBLING
Global efforts to finalise a treaty to curb plastic pollution collapsed in Geneva on Friday, halting nearly three years of talks. Negotiations broke down over disputes on whether to cap plastic production, phase out toxic chemicals, and fund cleanup efforts. Instead, countries left without agreement, with observers saying they preferred no treaty to a weak one. Plastics production has already doubled since 2000 to 460 million tons, and could hit 736 million by 2040 without stronger action. With over 16 000 chemicals in plastics - many hazardous - the stalemate leaves health, wildlife, and ecosystems vulnerable until talks resume at an unspecified date. (SOURCE: Reuters) |
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Patience is the calm acceptance that things can happen in a different order than the one you have in your mind.
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| Dollar | R17.62 | - 0.14% | | Pound | R23.86 | - 0.07% | | Euro | R20.61 | - 0.09% | | Yen | 0.119481 |
| | Yuan | R2.45 | - 0.14% | | Bitcoin | $ 115 259.72 | - 1.81% |
These rates are correct at time of going to press. | | Platinum | $ 1 335.70. | + 0.10% | | Gold | $ 3 348.92
| + 0.40% | | Oil | $ 66.22 | + 0.09% | | All Share | 101 950.01
| - 0.04% | | Repo | 7.00 | | | Prime | 10.50 | |
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