The latest from Moneyweb

Five to 10 years ago avian influenza was pretty much the only serious poultry disease South Africa did not have, but it is now running rampant – and the consequences will be severe.

Investigations

Mbombela cuts electricity to Nova centres due to non-payment

6 Oct 2023 / Ryk van Niekerk

Sharemax rescue vehicle seems to be facing significant cash flow challenges.

South Africa

Lesufi backtracks on plan to refund motorists who paid their e-tolls

6 Oct 2023 / Roy Cokayne

But confirms the scrapping of e-tolls is slowly edging closer.

Companies and Deals

Sekunjalo group fights to keep bank accounts open

6 Oct 2023 / Ciaran Ryan

Claiming anti-competitive behaviour by several banks.

Crypto arbitrage continues to outperform traditional investments

6 Oct 2023 / Ciaran Ryan

In a battle of fine margins, Future Forex squeezes extra yield for clients.

South Africa

Simba factory workers strike over ‘unfair’ transport deductions

6 Oct 2023 / Kimberly Mutandiro, GroundUp

Workers claim the company has been deducting money from their salaries for transport, which it was supposed to supply for free.

South Africa

Government looking for eggs from anyone willing to sell

6 Oct 2023 / Akhona Matshoba

While some restaurants believe they have a plan to keep serving meals containing the protein despiite the shortage.

Economy

Rand heading to R20 per dollar

6 Oct 2023 / Adriaan Kruger

There are fundamental reasons for the rand falling to new lows, and not much anybody can do about it.

SAfm Market Update

Mary Vilakazi on her key focus areas as she takes the helm at FirstRand

5 Oct 2023 / Jimmy Moyaha

'I think consistency and continuation of the strategy is really what the team will focus on. Looking after what we have is key,' the incoming CEO says.

Market Watcher

Dollar gains

5 Oct 2023 / Jimmy Moyaha

John Cairns of RMB discusses the day's market and currency moves, dollar strength, fiscal worries, and could it get worse?

RSG Geldsake

RSG Geldsake met Moneyweb – Donderdag 05de Oktober 2023

5 Oct 2023 / Tinus de Jager

Tinus de Jager – Moneyweb

RSG Geldsake

FTX se baas, SBF, is in die hof

5 Oct 2023 / Tinus de Jager

Christo de Witt, hoof van Luno Suid-Afrika gesels oor die Sam Bankman-Fried hofsaak en die impak daarvan op die kriptobedryf.

RSG Geldsake

Anglo American kondig aan dat hy net $200 miljoen se ongeslypte diamante verkoop in die siklus

5 Oct 2023 / Tinus de Jager

Dr Petré Prins, besturende direkteur van Prins & Prins Diamante gesels oor De Beers se diamantverkope.

RSG Geldsake

Johannesburg, en Gauteng, se waterkrane word al hoe meer toegedraai

5 Oct 2023 / Tinus de Jager

Prof Anja du Plessis, waterkenner van die Universiteit van Suid-Afrika (Unisa) gesels oor die huidige waterkrisis.

RSG Geldsake

Suid-Afrika sal bevrugte eiers invoer om tekorte aan te spreek

5 Oct 2023 / Tinus de Jager

"Ons gaan nie sien dat vleis of eiers verdwyn nie. Wat ons wel gaan sien is dat daar tekorte gaan wees aan vleis en eiers, maar ons het ook ander aksies wat ons neem om dit te beperk." – Izaak Breitenbach van die Suid-Afrikaanse Pluimveevereniging (Sapa).

RSG Geldsake

Die rand val sy wind uit

5 Oct 2023 / Tinus de Jager

Nerina Visser, ETF strateeg en adviseur by etfSA sê die vloei van kapitaal na die dollar veroorsak 'n verswakking van ander geldeenhede.

Fast News

Anglo Platinum CEO sees no immediate rebound in low metal prices

5 Oct 2023 / Felix Njini, Reuters

'I really hope I am wrong but the way I am setting up the business is that those prices are in place for a bit of time,' Miller said.

Busa calls for UIF to be placed under administration

5 Oct 2023 / Jeremy Maggs

‘My recommendation is that the president does that and gets a competent group of people to go in there, investigate and fix the systems as they investigate. They need to investigate the investments that have been made because the allegations are [that] many of those are dodgy,’ says Johnny Goldberg, Busa Nedlac labour market convenor.

South Africa

UPDATE

Place UIF under administration – Busa

5 Oct 2023 / Akhona Matshoba

Business body calls out the fund commissioner for failing to fix the problem.

Economy

UPDATE

Rand slips against the dollar

5 Oct 2023 / Tannur Anders, Reuters

In early afternoon trade the rand was at R19.57 to the dollar.

Advisor Questions

Navigating the money maze: Don’t get lost!

5 Oct 2023 / Moneyweb

Get advice from the experts by submitting your reader questions to our team of qualified financial advisors.

‘ANC’s calls to limit foreign workers won’t solve country’s unemployment crisis’

5 Oct 2023 / Jeremy Maggs

A round-up of news updates, including a look at why business wants the UIF placed under administration.

Economy

Sarb won’t defend depreciating rand: Kganyago

5 Oct 2023 / Kopano Gumbi, Reuters

The rand has weakened about 13% against the greenback this year.

Energy, oil, gas and uranium

Oil extends plunge as brent falls below $85 on demand worries

5 Oct 2023 / Elizabeth Low and Alex Longley, Bloomberg

Brent for December settlement was 0.6% lower at $85.33 a barrel.

Africa

New cholera outbreak spreading across Zimbabwe kills up to 100 people

5 Oct 2023 / Godfrey Marawanyika, Bloomberg

More than 4 000 people died from cholera during an outbreak in 2008 and 2009 in Zimbabwe.

Mining has become ‘really, really tough’

5 Oct 2023 / Simon Brown

But it's not all doom and gloom for the South African mining industries: Vuyiswa Khutlang – PwC SA energy, utilities and resources partner.

Transnet Freight Rail CEO Siza Mzimela resigns

Companies and Deals

UPDATE

Transnet Freight Rail CEO Siza Mzimela resigns

5 Oct 2023 / Akhona Matshoba

The CEO wrote a heartfelt letter to staff Thursday morning informing them about her departure.

Kganyago sticks with hawkish tone on inflation

South Africa

UPDATE

Kganyago sticks with hawkish tone on inflation

5 Oct 2023 / Ntando Thukwana, Bloomberg

'We have got to be seeing that consecutively, inflation is sustainably closer to the 4.5% that we aim for.'

Economy

Stocks rise, dollar falls as bond selloff abates: Markets wrap

5 Oct 2023 / Richard Henderson and Chiranjivi Chakraborty, Bloomberg

Spot gold rose 0.3% to $1 826.53 an ounce.

Economy

World Bank laments Africa’s lost decade as economic growth slows

5 Oct 2023 / Alister Bull, Bloomberg

Economic growth in sub-Saharan Africa is forecast to slow to 2.5% this year from 3.6% in 2022, the World Bank said.

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ECONOMIC DATA

CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products	Sep 2023	4.80%
CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing	Sep 2023	5.10%
RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee.	Oct 2023	8.25%
Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance)	Oct 2023	11.75%