| CONFUSION REIGNS IN REGULATORY CANNABIS VACUUM |
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Former MEC for Agriculture and Rural Development Super Zuma (left) and MEC for Economic Development, Tourism and Environmental Affairs Siboniso Duma at a KZN Cannabis and Hemp Conference and Expo in Bergville in 2023. (Picture credit: Polity)
As South Africa moves to formalise its cannabis sector, confusion and mixed signals persist, leaving industry stakeholders frustrated. The KZN Hemp Association has formally sought clarification following a controversial circular from provincial police commissioner Lieutenant-General Nhlanhla Mkhwanazi, which, while affirming private cultivation and use is legal, warns that trading cannabis products - including edibles - is prohibited.
The circular reportedly conflates CBD, a non-psychoactive compound legally sold in regulated amounts, with THC, the psychoactive component of cannabis, raising alarm among businesses. With KZNs climate particularly well-suited for cannabis cultivation, the sector has huge local potential. Meanwhile, the government forges ahead with the Agricultural Research Council’s R200 million, 2 000m² climate-controlled research facility in Pretoria, aiming to industrialise the industry despite legislative delays. (SOURCE: BDLive/The Witness) |
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| MAKING THE MOST OF CHASING GOLF BALLS AROUND THE COURSE |
There’s good reason for the popularity of golf days to foster networking, raise funds and generally have a fun time herding the small white ball into a hole. But networking on the golf course goes beyond swings and putts, it’s also about building rapport, and balancing competitiveness with sportsmanship. For more tips about making the most of your day on the course, click here.
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1983: Gerrie Coetzee became the first South African boxer to win a world heavyweight title.
Elsewhere, in 1845, astronomer Johann Galle became the first person to observe the planet Neptune.
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INFORMAL SECTOR’S GDP ROLE OFTEN EXAGGERATED
The size and impact of South Africa’s informal economy is often overstated, argues UCT economist Professor Haroon Bhorat, who says its contribution to GDP is closer to 6%, in line with Statistics SA’s estimates. This contrasts with World Bank and IMF research, which has placed the figure nearer 10%–15%, while some development studies suggest it could exceed 20% if underreported cash trade and home production are included.
Bhorat contends the lower estimate is more realistic, showing the informal economy is less of a growth driver than political rhetoric suggests. While millions depend on informal work, its limited scale means tackling unemployment requires broader economic reform rather than over-relying on informal sector dynamics. (SOURCE: BDLive)
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... AS CALLS MOUNT FOR NATIONAL JOB CRISIS SUMMIT
Amid rising company closures and retrenchments across South Africa, Select Committee on Economic Development and Trade chair Sonja Boshoff has called for a national crisis summit to address job losses. She urges Trade, Industry, Labour, and Small Business Development ministers to act swiftly, offering solutions such as electricity and freight relief, localisation support, and trade remedies. Strengthening Section 189/189A consultations, ensuring fair severance, and boosting retraining are key. Boshoff highlights Eastern Cape, Gauteng, and Free State as hardest-hit regions requiring targeted stimulus, labour absorption programmes, and infrastructure investment, warning that urgent action is essential to protect livelihoods and the country’s industrial future. (SOURCE: Engineering News) |
... AND OVER-50S SURGE IN TWO-POT WITHDRAWALS RAISES ALARM
Momentum Group reports that nearly 350 000 South Africans tapped into their pension savings under the two-pot retirement system in the past year, withdrawing a total of R5.4 billion. Alarmingly, almost 20% of these claimants were over 50, raising concerns about financial stability as retirement nears. The system, designed to provide limited pre-retirement access, risks eroding long-term savings if used extensively, particularly by older members. (SOURCE: BDLive) |
LIMIT BITCOIN EXPOSURE TO 5%, CAUTIONS ASSET MANAGER
South African asset manager Sygnia is urging caution among investors flocking to its Sygnia Life Bitcoin Plus fund, launched in June and benchmarked against the iShares Bitcoin Trust ETF. CEO Magda Wierzycka said the firm actively discourages investors from moving all their assets into the high-risk product, warning that extreme volatility could devastate savings in emerging markets like South Africa. While Bitcoin surged 82% in the past year, it remains highly volatile, recently dipping 2.3% to $112 735. Sygnia, managing R350 billion in assets, recommends investors allocate no more than 5% to crypto within diversified portfolios. (SOURCE: Bloomberg)
See below: Crypto market shed R26 billion in 24 hours |
CHOPPIES DUMP JWAYELANI IN SA SUPERMARKET EXIT
Botswana-based retailer Choppies has announced its complete withdrawal from the South African market after agreeing to sell its Jwayelani supermarket chain and KwaZulu-Natal meat processing facility to the Shingai Group. The deal involves disposing of 100% of its shareholding in Business Venture Investments, which operates 45 Jwayelani-branded community supermarkets. Completion remains subject to competition and regulatory approval, expected before November. Choppies, which has struggled in South Africa’s highly competitive retail sector, says the exit allows it to refocus on core markets where it maintains stronger brand presence and profitability, marking the end of its turbulent South African venture. (SOURCE: BDLive) |
RENERGEN, SPRINGBOK SOLAR RESOLVE ENERGY DISPUTE
Renergen and Sola Group, developer of the Springbok Solar power plant, have reached a settlement to end their legal dispute over overlapping project rights in the Free State. The coexistence agreement enables both companies to continue operating their respective natural gas and solar ventures, while setting protocols for coordination and consultation. The deal provides certainty, prevents delays, and supports South Africa’s broader energy transition. (SOURCE: BDLive) |
CANAL+ COMPLETES MULTICHOICE TAKEOVER, INTEGRATION
French media giant Canal+ has finalised its acquisition of MultiChoice, cementing the largest transaction in its history and positioning the combined entity as a global media powerhouse. Canal+ now directly owns 46% of MultiChoice shares, excluding treasury stock. The MultiChoice board has restructured to incorporate Canal+ representation while maintaining independence. The integration is expected to accelerate growth, content innovation, and expansion across Africa’s competitive entertainment landscape. (SOURCE: BDLive) |
BUSINESS-GOVERNMENT PARTNERSHIPS KEY TO AFRICAN GROWTH
Collaboration between governments and the private sector is crucial to unlocking Africa’s economic potential, says Business Unity SA president and B20 co-chair Mxolisi Mgojo. Speaking at the G20 Young Entrepreneurs’ Alliance Summit, Mgojo highlighted the need to empower youth-led SMEs, foster innovation and create sustainable growth opportunities. He stressed that business-government partnerships can unlock investment, build skills and connect Africa’s young entrepreneurs with global markets. The annual G20 YEA Summit, held ahead of the G20 Leaders’ Summit, links over 500,000 entrepreneurs worldwide, providing a platform to shape inclusive growth agendas and position Africa as a driver of global opportunity. (SOURCE: BDLive) |
SA, BRAZIL SIGN AGRICULTURE COOPERATION AGREEMENT
South Africa and Brazil have signed a Memorandum of Intent (MoI) to deepen agricultural cooperation, focusing on sustainable production, livestock systems, quality assurance, and food security. Signed by Agriculture Minister John Steenhuisen and Brazilian Vice Minister Luiz De Alcantara Rua at the G20 Agriculture Working Group Ministerial in Somerset West, the MoI enables joint training, technical tours, trade missions, and conferences. Agricultural trade between the two nations surged 80.5% from R5.4 billion in 2020 to R9.7 billion in 2024, with SA’s exports up 92.8%. The five-year, automatically renewable pact establishes a Joint Working Group to monitor progress. (SOURCE: Bizcommunity) |
CRYPTO MARKET SHED R26 BILLION IN 24 HOURS
Global cryptocurrency markets tumbled Monday as more than $1.5 billion (about R26 billion) in bullish positions were liquidated, sparking a wave of selloffs. Bitcoin fell nearly 3% to $111 998, while Ether slumped 9% to $4 075, with almost $500 million in leveraged longs wiped out. Data from Coinglass showed over 407,000 traders liquidated within 24 hours. The sel-loff temporarily dragged total digital asset market capitalisation below $4 trillion before staging a modest rebound, underscoring the volatility of crypto markets and the risks tied to leveraged trading. Smaller tokens bore the brunt of the sell-off as investor confidence wavered amid cascading liquidations. (SOURCE: Bloomberg) |
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Endurance is not just the ability to bear a hard thing, but to turn it into glory.
William Barclay |
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| Dollar | R17.34 | - 0.02% | | Pound | R23.43
| - 0.18% | | Euro | R20.46 | - 0.04% | | Yen | 0.117553 |
| | Yuan | R2.44 | - 0.04% | | Bitcoin | $ 113 084.70
| + 0.08$ |
These rates are correct at time of going to press. | | Platinum | $ 1 417.83
| - 0.27% | | Gold | $ 3 755.01
| + 0.23% | | Oil | $ 66.37
| - 0.01% | | All Share | 105 963.34
| - 0.14% | | Repo | 7.00 | | | Prime | 10.50 | |
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