| PMCB AT FOREFRONT TO REVITALISE MORIBUND GLOBAL TRADE |
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PMCB CEO Melanie Veness (left) with fellow delegates at the Brussels Roundtable was appointed to champion global mentorship for women in business chambers.
Trade disruptions are reverberating across the global economy, prompting renewed urgency to reform the international trading ecosystem and restore stability, predictability and growth. Conclusions from a recent gathering, termed the Brussels Roundtable under the auspices of the International Chamber of Commerce, signalled a shift from stalled negotiations toward action-driven reform of the global trading system.
Participants agreed that rising geopolitical tensions and fragmentation are weakening multilateral effectiveness, requiring more flexible, business-aligned solutions. While reaffirming the WTO’s central role, the discussion emphasised combining multilateral ambition with plurilateral and regional initiatives, such as the African Continental Free Trade Area Agreement, alongside stronger public-private collaboration and practical implementation of existing frameworks.
To this end, Pietermaritzburg and Midlands Chamber of Business CEO Melanie Veness was appointed to champion global mentorship for women in business chambers, reinforcing inclusive leadership within global trade networks. European business was urged to lead through resilience and innovation, using platforms like the ICC Compact to turn dialogue into delivery and rebuild confidence in global trade governance.
See below: China's zero tariff extension lifts export prospects |
| TOP STUDENTS STAKE CLAIM TO GLOBAL ROLL OF HONOUR |
Emeris Pietermaritzburg students at the recent Golden Key International Honour Society information session to learn about opportunities for academic recognition, leadership development and community service.
Emeris Pietermaritzburg students were introduced to the benefits of joining the Golden Key International Honour Society during a recent information session. The society recognises top-performing students, inviting those in the top 15% academically to join its global network. Emphasising academics, leadership and service, the session highlighted opportunities including scholarships, research grants and community projects. Nyambeni noted the initiative aims to bridge academic potential with professional impact. Campus Head Eve Reddy described membership as a milestone that connects students to a global community of high achievers focused on growth, leadership and meaningful contribution.
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| CRITICAL EMPLOYMENT EQUITY TRAINING, SHORTEST COMRADES ROUTE |
A business skills training session at the Pietermaritzburg and Midlands Chamber of Business tomorrow will help employers navigate the employment equity management landscape with designated employers now required to meet binding ministerial targets by 2030. With progress under scrutiny, non-compliance may land employers penalties up to R1.5 million or 2% of turnover. To help employers prepare for new reporting requirements over the next five months, trainer Raj Seeparsad will guide HR leaders on fair promotion pathways, unbiased performance systems, and annual reporting obligations to support workplace transformation and compliance. Contact Thabisile on (033) 345 2747 or at info@pmcb.org.za, 033 345 2747.
Comrades Marathon hopefuls contesting the 14 June Up Run will cover a distance of 85.777 km, 133 metres shorter than the 2024 edition. Ongoing roadworks and route adjustments at Cowies Hill, Umlaas Road, and the Scottsville finish account for the shorter distance. The updated route was confirmed by the Comrades Marathon Association after official measurement using calibrated equipment.
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1960: Pan Africanist Congress president Robert Mangaliso Sobukwe, was sentenced to three years' imprisonment for inciting black people to repeal pass laws.
Elsewhere, in 1959, the first Grammy Awards were presented. The winners included Frank Sinatra and Ella Fitzgerald.
Don’t spare the hoses on International Firefighters Day.
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MOTORISTS BRACE FOR MAY PAIN AT THE BOWSER
Motorists are bracing for higher fuel prices expected to take effect from midnight tomorrow, driven by sustained global oil pressures and the gradual unwinding of temporary tax relief measures. Preliminary estimates suggest petrol 95 could rise to around R25.20–R25.50 per litre inland, while petrol 93 is expected to hover near R25.
Diesel users face steeper increases, with 50ppm prices projected in the R30.30–R31.50 per litre range, depending on region and retail margins. The adjustments follow extensions to the fuel levy relief announced by the National Treasury, which temporarily softened costs but will begin tapering from June. Analysts warn the increases will add inflationary pressure, particularly on transport, logistics and food prices, further tightening household budgets in the near term. (SOURCE: News24/Engineering News)
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CHINA'S ZERO TARIFF EXTENSION LIFTS EXPORT PROSPECTS
China’s decision to grant tariff-free access to South African exports is expected to lift trade volumes and open new market opportunities, particularly for agriculture and manufactured goods. Trade, industry and competition minister Parks Tau said the move strengthens bilateral ties and could enhance competitiveness for local producers. However, structural constraints - including logistics bottlenecks, energy instability and limited export diversification - may temper the gains. Analysts caution that while zero-duty access improves pricing, South Africa must address supply-side inefficiencies to fully benefit. The development underscores both the potential of deepened trade relations with China and the urgency of domestic economic reform. (SOURCE: BDLive)
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5 OOO KM OF TRACKS TO BE LIFTED IN RAIL MASTER PLAN
South Africa’s Draft National Rail Master Plan proposes restructuring the rail system by decommissioning up to 5 000 km of low-volume and underutilised lines, while prioritising investment in high-density freight and passenger corridors. The Department of Transport aims to restore rail as an economic backbone by improving efficiency, safety and operational reliability across key routes linking mining hubs, ports and industrial centres. The plan targets improved freight performance on strategic corridors such as iron ore and coal lines, while enabling greater private sector participation. Public comment on the draft is open until July 2026, with submissions invited via the Department of Transport’s official website and provincial transport offices nationwide. (SOURCE: News24)
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TWO-POT SYSTEM BOOSTS SAVINGS PRESERVATION OUTCOMES
South Africa’s two-pot retirement system is showing early signs of success, with improved preservation of long-term savings despite significant withdrawals. Old Mutual said the structure is meeting its objectives by allowing limited access while safeguarding retirement funds. Data from South African Revenue Service shows R21.4 billion has been paid out to about one million applicants, with R79.3 billion approved by end-February 2026. While the system provides short-term financial relief, policymakers and industry players emphasise its core aim: balancing immediate needs with long-term financial security, encouraging disciplined saving behaviour and reducing the risk of members cashing out entire retirement funds prematurely. (SOURCE: BDLive)
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FAIR PAY BILL TARGETS SALARY SECRECY PRACTICES
South Africa’s proposed Fair Pay Bill aims to tackle wage inequality by banning salary history disclosures and improving transparency in hiring practices. Championed by Nobuntu Hlazo-Webster, the bill seeks to amend the Employment Equity Act to prevent employers from using past pay to set future salaries - a practice seen as perpetuating historic discrimination. Advocates argue the reform could narrow gender and racial pay gaps, while critics warn of added compliance burdens for business. The proposal signals a shift toward fairer remuneration frameworks, aligning South Africa with global trends promoting pay equity, transparency and accountability in labour markets. (SOURCE: BDLive)
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SKEWED OWNERSHIP HOLDS BACK PROPERTY RECOVERY
South Africa’s R5.8-trillion property sector is recovering, with rising operating income across commercial segments, yet ownership transformation remains limited. Despite the sector’s scale, previously disadvantaged groups still account for a relatively small share of direct property ownership, highlighting persistent structural barriers. While listed property and institutional investment have rebounded, transformation has lagged behind overall growth. Analysts warn that without improved access to funding and targeted reforms, gains will remain concentrated. The figures underscore a widening gap between market expansion and inclusivity, reinforcing concerns that economic recovery in property is not translating into broad-based participation or meaningful shifts in ownership patterns.
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POSTBANK SHIFTS CASH SERVICES AWAY FROM SAPO BRANCHES
Postbank has ended its service level agreement with the South African Post Office, moving customer cash deposits, withdrawals and support services to new banking channels from 1 May 2026. Customers will now access funds through Standard Bank ATMs, branches and participating retailers, while social grant payments remain unaffected via existing SASSA-linked channels. The shift follows a broader R500m technology upgrade and marks the final phase of Postbank’s exit from Post Office infrastructure. The move aims to improve service reliability, expand access, and modernise banking delivery for millions of users nationwide. (SOURCE: Moneyweb)
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CLIENTELE TO EXIT JSE, OFFERS PREMIUM BUY-OUT
Clientèle Limited is set to delist from the Johannesburg Stock Exchange after proposing a buyout offer of R19.90 per share to shareholders. The move signals a shift toward operating as a private entity, allowing greater strategic flexibility away from public market pressures. The offer represents a premium to recent trading levels, aiming to secure shareholder approval. Analysts say the decision reflects broader trends of companies reassessing the costs and regulatory demands of remaining listed, particularly amid subdued market conditions and limited liquidity on the JSE. (SOURCE: BDLive)
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REGULATOR WIPES SMILE OFF SENSODYNE CLAIMS
Sensodyne toothpaste is facing a setback in South Africa over advertising claims linked to dental accreditation. Regulators challenged the use of implied dentist endorsement, saying such claims require clear, verifiable substantiation. The ruling underscores tighter oversight of health-related marketing and the need for evidence-based communication in oral care advertising. It also raises broader implications for how global consumer health brands position products like Sensodyne in competitive markets, where trust and clinical credibility remain key to consumer choice. (SOURCE: News24)
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BOTSWANA BREAKS RANKS WITH RATE HIKE AMID INFLATION SHOCK
Botswana has become the first African central bank to raise interest rates following the global energy shock triggered by the Iran war, lifting its policy rate to 5.5% from 3.5%. Governor Lesego Moseki warned inflation could surge to 8.9% in April, well above the 3%–6% target band. Average inflation is projected at 8.7% in 2026 before easing to 5.6% in 2027. Rising fuel, transport, and medical costs are key drivers, with risks of further spillovers. The economy faces added pressure from a weakened diamond sector and a foot-and-mouth outbreak, threatening exports and food prices. (SOURCE: Bloomberg)
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DUBAI AIRPORT TRAFFIC PLUNGES 66% ON MIDEAST WAR
Passenger traffic at Dubai International Airport fell 66% in March 2026 as the Iran war disrupted regional airspace and grounded travel demand across the Middle East. The sharp decline contributed to a 21% year-on-year drop in first-quarter passenger volumes to 2.5 million, according to airport data. Several temporary shutdowns followed drone-related incidents near the facility, further compounding disruptions. Despite the downturn, airport management said underlying demand remains strong, supported by key routes such as India, Saudi Arabia, the UK and Pakistan. CEO Paul Griffiths said recovery is expected as restrictions ease and capacity normalises across the hub. (SOURCE: Bloomberg)
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AUSTRALIA TARGETS BIG TECH WITH NEWS TAX
Australia has proposed new legislation forcing major tech firms including Meta, Google and TikTok to fund local journalism through a “news bargaining incentive”. Companies must strike deals with publishers or face a 2.25% tax on local revenue, expected to raise up to A$250 million (about R) annually. Prime Minister Anthony Albanese said proceeds would support journalists, but critics argue the policy distorts markets and unfairly targets selected firms, highlighting tensions between governments and global tech platforms over content value and regulation. (SOURCE: Reuters)
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BITCOIN CRACKS $80 000 LEVEL ON ASIAN RALLY
Bitcoin surged above $80 000 (about R1.328 million) for the first time in over three months, peaking at $80 393 in Singapore trading this morning as Asian equities neared record highs. The move was supported by strong technology earnings and renewed institutional inflows, with US Bitcoin ETFs attracting $630 million in net investments last Friday. Broader risk appetite improved as MSCI’s Asia index approached February’s record levels, despite ongoing geopolitical uncertainty linked to the Iran conflict and tensions around the Strait of Hormuz. Analysts say the $80 000 level remains a key psychological barrier, with a sustained break potentially driving further upside across digital assets. (SOURCE: Bloomberg)
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Successful people are not gifted; they just work hard, then succeed on purpose.
G.K. Nielson |
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| Dollar | R16.62 | + 0.11% | | Pound | R22.56 | + 0.04% | | Euro | R19.48 | + 0.13% | | Yen | 0.106028 |
| | Yuan | R2.43 | + 0.12% | | Bitcoin | $ 79 823.41
| + 2.12% |
These rates are correct at time of going to press. | | Platinum | $ 1 982.20
| - 0.90% | | Gold | $ 4 585.43
| - 0.59% | | Oil | $ 109.09
| + 0.34% | | All Share | 115 319.25 | + 0.12% | | Repo | 6.75 | | | Prime | 10.25 | |
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