Business Explainer

NEDBANK WELCOMES 2,150 YOUTH Nedbank has welcomed 2,150 young South Africans into its 2026 Youth Employment Service (YES) cohort at an event in Sandton. The new recruits will spend 12 months gaining work experience across the bank and its partners. Since joining YES in 2019, Nedbank has created over 19,000 one-year job opportunities for young people. Nedbank Group CEO Jason Quinn (pictured) urged the youth to prioritise financial planning, while chairperson Daniel Mminele called youth employment a business imperative. Successful YES alumni shared their career journeys, and the event featured performances from Amapiano star Young Stunna (pictured) and a motivational address from leadership coach Zoya Mabuto Mokodito. Full story - https://ln.run/nUM8t

LIQUOR MARKET OUTPACES GROCERIES South Africa's off-trade liquor market grew 4.2% to R109bn in 2025, outpacing groceries, according to the Trade Intelligence Liquor Retailing Report 2026/2027. Corporate grocery chains are expanding their liquor store footprints faster than supermarkets themselves, now reaching 75% brand saturation. Quick-commerce apps like Checkers Sixty60 are reshaping buying habits, driving impulse purchases and reducing in-store visits. Meanwhile, taverns are thriving, growing 8% and making up half of on-trade sales, largely because they keep drinks reliably cold. Full report - https://ln.run/RuB8V

SANLAM HONOURS FINANCIAL JOURNALISTS Ugandan journalist Deogratius Wamala has won the 2025 Sanlam Group Financial Journalist of the Year award, presented in Johannesburg at the 51st anniversary gala. This year's Best Newcomer went to Ruby Delahunt of Currency News, a Wits University graduate and first-time entrant. Founded in 1974, the Sanlam Group Financial Journalism Awards celebrate their milestone 51st anniversary this year, continuing their legacy of rewarding excellence in business reporting across the African continent. Full story - https://ln.run/JDMCF Pictured - Programme Director, Nastassia Arendse

MUNGROO TO LEAD ENGIE SA ENGIE South Africa has appointed Sanjeev Mungroo as Country Manager. He steps into the broader leadership role after rejoining ENGIE earlier this year as Managing Director: Renewables and Batteries. With over three decades in the energy sector, including experience in power production, investment banking and infrastructure, Mungroo was one of ENGIE South Africa's earliest employees. He will now lead the business through market liberalisation, growing private-sector involvement and rising demand for reliable, lower-carbon energy, focusing on generation, batteries, energy management and customer solutions as South Africa's energy transition continues. Full profile - https://ln.run/2ljfv

PROCUREMENT SALARIES RISE BY 10.2% South African procurement professionals saw salaries rise by 10.2% over the past year, beating inflation of 3.2% and the global average of 7.4%, according to CIPS's Procurement & Supply Salary Guide 2026. Full story - https://ln.run/7zO12 Pictured - Paul Vos, Regional Managing Director of CIPS Southern Africa

AI NEVER FORGETS YOUR SCANDAL Companies used to survive a crisis by staying quiet and waiting for the news cycle to move on. Madelain Roscher warns that artificial intelligence has changed this. Ai has no news cycle, only memory, so it repeats whatever was last published, even if a company later fixed the problem. Roscher advises companies to respond publicly, build a steady record of credible coverage, confirm when issues are resolved, and regularly check what Ai platforms say about them. Reputations, she says, are now shaped by what Ai remembers. Read more - https://ln.run/DrERx Pictured - PR Worx CEO, Madelain Roscher

BUSINESS LEADERS PRAISE SARB DECISION The South African Reserve Bank kept the repo rate unchanged at 7.0%, leaving the prime lending rate at 10.5%, despite concerns over inflation and geopolitical risks. The decision, supported by four of the six Monetary Policy Committee members, was welcomed by economists, banks and the motor industry. PSG Financial Services said the Bank’s tone was less hawkish than expected, while FNB described the move as providing much-needed stability for households and businesses. The National Automobile Dealers’ Association said the pause would support consumer confidence and vehicle sales. The SARB expects rates to... https://ln.run/8VKG9

PIC CHAIR STEPS DOWN Dr David Masondo has resigned as chairperson of the Public Investment Corporation, just days before a shareholder meeting where Finance Minister Enoch Godongwana was expected to remove him anyway. Masondo, who's also the Deputy Minister of Finance, said he was stepping down for the sake of the country and the PIC's stability, urging that ongoing investigations be seen through properly. His exit follows weeks of turmoil, including the suspension of CEO Patrick Dlamini over a whistleblower complaint linked to a Lanseria Airport deal, and the resignation of six board members. The PIC manages roughly R3.6-trillion in pension savings. A shareholder meeting on 27 July will decide the fate of the remaining directors. Full story - https://ln.run/pEMb7

JUST IN: Reserve Bank Holds Interest Rate at 7%