Thursday, 17 September 2026

The Constitutional Court invalidated the Public Procurement Act because Parliament failed to properly consult the public, especially after adding preferential-procurement provisions; government may need to rewrite and re-pass it.

Momentum reported record normalised headline earnings of R7 billion, a year ahead of target, with all 10 measured business units profitable and five exceeding R1 billion in earnings.

Momentum CEO Jeanette Marias acknowledged serious disruption during the rushed transfer of more than 800,000 Bonitas members, saying 800 staff were hired and call-waiting times had since fallen below a minute.

A US-backed R2.5 billion investment in WIOCC will expand African and South African data centres and fibre networks, but ownership, security and control of infrastructure remain concerns.

Investment experts warned that historical back-tests can mislead through poor data, changing market regimes and survivorship bias, which can distort annual returns by an estimated 2% to 8%.