Hi Bru,and welcome to another edition of MorningBru, separate from today’s edition we are assisting a student doing a research project around the MorningBru newsletter, so if you have some time please complete the 2 min survey

Market View

This Weeks Overview

National Headlines:

• Nasiphi Moya has been elected as the new mayor of Tshwane after Cilliers Brink was ousted, with ActionSA praising her leadership potential.

• Six directors from a Johannesburg engineering firm have been arrested for BEE fronting and defrauding Eskom and Sasol of R400 million through fraudulent tenders.

• Flights to and from East London’s King Phalo Airport were suspended due to safety and weather-related issues, leaving travelers stranded.

Business World:

• Superbalist may cut up to 30% of its workforce amid restructuring efforts following a recent acquisition.

• Old Mutual launches a mobile service, offering affordable data packages starting at R5, as part of its strategy to reach mass-market customers.

• South Africa introduces a remote work visa for highly paid foreign workers, alongside a new points-based system for work visa applications.

Interesting Internationally:

• An Italian unknowingly had a Picasso painting hanging in his home for 60 years, potentially worth $13 million.

• Wimbledon will replace all line judges with electronic line-calling technology starting in 2025, following other major tennis tournaments.

National Stories:

Tshwane Welcomes Mayor Nasiphi Moya

The City of Tshwane just got a leadership upgrade. After a motion of no confidence booted former mayor Cilliers Brink last month, Dr. Nasiphi Moya has stepped into the mayoral spotlight. According to ActionSA leader Herman Mashaba, Moya’s election wasn’t a bumpy ride—negotiations with the ANC were smoother than expected. After months of political turbulence, Mashaba believes Moya is the perfect fit to steer the city toward a brighter future. With unanimous support from the council, Moya’s appointment marks a hopeful turning point for Tshwane’s governance. Expect changes on the horizon as Moya settles into her new role.(Source article)

Six Directors Nabbed in R400 Million Eskom

Six directors of NJM Heat Treatment & NDE Services are in hot water after being arrested for a staggering R400 million tender fraud involving Eskom and Sasol. The group, accused of BEE fronting, theft, and money laundering, allegedly falsified financial records to secure lucrative contracts at the power and energy giants. The South African government, via spokesperson Nomonde Mnukwa, hailed the arrests as a win in the fight against corruption. The Hawks swooped in following reports by former directors, shining a light on dodgy dealings dating back to 2017. The accused are due back in court on November 29, but the heat is already on. (Source article)

King Phalo Airport Faces Suspension

Hundreds of travelers were left stranded on Tuesday as East London’s King Phalo Airport faced another operational shutdown—the second in a month. This time, the Civil Aviation Authority stepped in after discovering outdated instrument flight procedures, compounded by bad weather.

With nearly 30 daily flights and 620,000 annual passengers, the suspension has ripple effects on both the local economy and major industries. The airport’s shutdown is especially damaging to tourism and the automotive sector, which relies on cargo routes through King Phalo.

Authorities are scrambling to expedite approvals for updated procedures, but for now, all flights remain suspended until further notice. Stay tuned for updates via the Airports Company South Africa app. (Source article)

Business World

Super restructure

Superbalist, South Africa’s leading online fashion retailer, is in the process of restructuring, with potential staff cuts of up to 30%. The move comes just a month after Blank Canvas Capital, a private equity-led consortium, acquired the company from Takealot. Facing a post-Covid growth slump and stiff competition from emerging online platforms, CEO David Cohen says the changes are necessary for the company’s long-term survival. With 265 employees currently on the payroll, the company aims to balance operational efficiency with supporting affected employees. Meanwhile, the Competition Commission is reviewing whether this transaction qualifies as a merger under South African law.(Source article)

Old Mutual dials in

Old Mutual is stepping into the telecom world with Old Mutual Connect, its new Mobile Virtual Network Operator (MVNO). Aiming to provide affordable mobile and data services to lower-income customers, the service offers data bundles starting at just R5. This move aligns with Old Mutual's broader strategy to expand its financial services, including the upcoming launch of OM Bank, targeted at mass-market customers like nurses and teachers. Old Mutual Connect will piggyback on Cell C’s network and promise a seamless onboarding process with perks like a free 1GB of data for new sign-ups. (Source article)

Holiday work

South Africa's Home Affairs Department has officially introduced a remote work visa, allowing foreign-based, high-income individuals to live and work remotely from within the country. This move is part of President Ramaphosa's efforts to attract foreign skills and investment, while boosting tourism. Applicants must earn over R650,796 annually, ensuring that local jobs are protected. Additionally, a new points-based system has been introduced to streamline and make work visa applications more transparent, aiming to reduce corruption. These reforms are expected to boost foreign currency spending and position South Africa as a prime destination for digital nomads.(Source article)

Interesting Internationally

Just another artwork

Imagine having a Picasso hanging in your dining room for six decades without knowing it. That’s exactly what happened to an Italian second-hand dealer who found a rolled-up canvas in a basement on Capri in the 1960s. The painting, a cubist portrait of Picasso's muse Dora Maar, was casually displayed in the man's home, despite bearing Picasso’s signature. Recently, the family sought expert opinions, and a forensic analysis confirmed the signature’s authenticity. If verified by Picasso’s estate, the piece could be valued at an astounding $13 million, transforming a humble second-hand find into an art-world treasure.(Source article)

Tech takeover

Wimbledon will bid farewell to its iconic line judges in 2025, replacing them with fully automated electronic line calling. This major shift follows the Australian Open and US Open, where Hawk-Eye technology has already been widely adopted. The All England Club’s decision comes after extensive testing and a push from the ATP, making line judges obsolete for the first time in the tournament's 147-year history. While umpires remain in place for now, the move highlights the increasing role of technology in sports officiating. The French Open is now the only Grand Slam still reliant on human officials. (Source article)

Dad Joke Of The Day

Share Your Feedback