As the adoption of cryptocurrencies accelerates in South Africa, industry leaders are cautioning new market participants against dangers associated with emotional decisions, social media hype, and insufficient information verification.
As the adoption of cryptocurrencies accelerates in South Africa, industry leaders are cautioning new market participants against dangers associated with emotional decisions, social media hype, and insufficient information verification.
Many local investors enter the crypto ecosystem with great enthusiasm but often possess inadequate knowledge. To help the public navigate the opportunities and risks of digital assets, the Sunday Independent interviewed Sebagu Manyeulu, CEO of Indexa South Africa.
Manyeulu, a recognized thought leader in African fintech and digital assets, identified emotion-driven decision-making as the main trap for newcomers. He noted that people often buy assets due to the fear of missing out during price surges, only to panic during market corrections. Since cryptocurrency is a volatile asset class, investment decisions should never be dictated by volatility.
The expert emphasized that long-term success in the market requires a methodical approach. The most successful investors, according to him, maintain discipline, follow a clearly defined strategy, and avoid making decisions based solely on feelings or social media sentiment.
This applies to the pervasive influence of online communities, where viral investment stories and trending coins dominate. Manyeulu insists that hype should not replace due diligence. Before investing capital, investors must ask themselves several questions: does the project solve a real problem? Is the management team reliable? Is there genuine adoption? Does the project have sustainable long-term value? If these questions cannot be answered confidently, the understanding of the investment is incomplete.
In addition to assessing the fundamental metrics of a project, protecting capital is paramount. Given ongoing global reports of security breaches, Manyeulu specifically highlighted the need for personal vigilance. He stated that security is absolutely fundamental because, unlike traditional banking, digital assets require investors to take greater responsibility for safeguarding their funds. Necessary practices include using strong passwords, multi-factor authentication, recognizing phishing schemes, and operating through reputable platforms. Asset protection, in his view, is as important as choosing the right investment.
Another area where enthusiasm often outpaces understanding is the use of leverage. Manyeulu warned that while borrowed funds can increase profits, they also carry serious risks. He noted that leverage can amplify returns just as quickly as it can increase losses. Many new investors are attracted by the prospect of increased profits without realizing the associated risks. During periods of heightened market instability, leveraged positions can be liquidated very quickly. He advised extreme caution if investors do not understand the principles of leverage and the associated risks.
Considering all this complexity, Manyeulu stressed that incumbent industry players have a duty to guide the public. He stated that education is one of the greatest responsibilities, and as leaders in fintech and digital assets, their responsibility extends beyond technology and innovation; they are obliged to promote financial literacy and help consumers understand both the opportunities and risks associated with digital assets.
Manyeulu clarified the scope of his company's role, noting that Indexa South Africa does not provide personalized financial or investment advice. Nevertheless, the company believes in the critical importance of clients and the general public understanding the fundamentals of cryptocurrencies, market risks, best security practices, and the principles of responsible investing. Ultimately, he believes that an informed investor is a more confident and responsible investor.
For those considering their first cryptocurrency purchase, Manyeulu's final advice is both practical and foundational: 'Invest in education before you invest in cryptocurrency.' He concluded that time must be spent studying the technology, assessing risks, diversifying assets appropriately, and never investing money that one cannot afford to lose. Digital assets are transforming the global financial system, but long-term success is achieved through patience, continuous learning, and disciplined decision-making, not by chasing quick money.
According to sources familiar with the matter, preliminary negotiations are underway regarding a potential deal between Meta and Anthropic concerning the lease of part of Meta's computing infrastructure, which is valued in billions of dollars.
The New York Times initially reported on this possible agreement, citing three informed individuals who estimated the deal's value at up to ten billion dollars over two years. However, a CNN source familiar with the situation noted that any specific figures published are merely speculation.
Both Meta and Anthropic declined to comment on these negotiations.
The possibility of becoming a provider of computing power could open up a significant new revenue stream for Meta, as the company is actively investing in developing data center infrastructure to support its artificial intelligence goals. According to the latest earnings report, Meta plans to spend between $125 and $145 billion on capital expenditures this year, primarily directed towards expanding this infrastructure. This amount could double the company's spending compared to the previous year.
Earlier, in April, Meta announced a 10% workforce reduction, affecting about 8,000 employees, partly to offset costs associated with these investments.
Meta CEO Mark Zuckerberg has previously spoken about the possibility of leasing out part of this infrastructure if the company's own computing needs cannot keep pace with construction rates. At Meta's annual shareholder meeting in May, Zuckerberg stated: 'We get inquiries almost every week from various external companies asking if we have computing power they could purchase from us at a premium price compared to the purchase price. We haven't done that yet because we believe we have uses for this computing. But obviously, if we reach a point where we feel we have built too much, then it is one of the options we have.'
Demand for computing power remains high as both large and small companies rush to implement AI, and leading AI labs work on improving their models. Anthropic has already secured multi-billion dollar agreements for computing power licensing with companies such as Google, SpaceX, Microsoft, and Amazon.
Meanwhile, investors are waiting to see how Meta's investments will affect net profit, especially given the need to keep up with AI offerings from companies like Anthropic and OpenAI. Meta's stock (META) has fallen by more than 8 percent compared to this time last year. Furthermore, last month, Meta released an updated version of its Muse Spark AI model, stating that it can compete with the coding capabilities of models from OpenAI, Anthropic, and others. For the first time, Meta announced plans to offer this service in a paid version, which is another sign that the company is looking for higher returns on its AI developments.
The South African Special Economic Zone (SEZ) program has attracted R14.8 billion in revenue and created over 30,000 jobs, according to Deputy President Paul Mashatile.
The Deputy President shared this information during the Second Annual International Conference on Special Economic Zones (SEZs), which took place in Durban on Friday. Minister of Trade, Industry and Competition (DTIC), Parks Tau, also spoke as a presenter.
Mashatile noted that Durban is a leading maritime gateway in Sub-Saharan Africa, with Port Durban serving as its hub. He emphasized that the city acts as a critical node between the industrialized interior region, particularly Gauteng, and global markets, handling a significant portion of South Africa's sea cargo.
Mashatile added that the legacy of strategic infrastructure and industrial development is demonstrated by facilities such as Dube TradePort and the Durban SEZ. These initiatives promote innovation, attract investment, and drive economic transformation, notably by linking Dube TradePort with King Shaka International Airport and Port Durban, which handles over 60% of South Africa's container traffic.
According to a World Bank study, the South African SEZ program has been successful, creating more than 30,000 jobs in sectors such as automotive manufacturing, agro-processing, and renewable energy. Mashatile pointed out that key projects, such as the Tshwane Automotive SEZ (TASEZ) and the Koega Industrial Development Zone in the Eastern Cape, are primary drivers of skills and supply chain development.
He also shared lessons learned since the establishment of Koega in 2001. By 2010, the government had invested over R3 billion solely in Koega, attracting 21 investments worth R9.2 billion and providing 2,837 jobs. However, some of these investments were not new but relocated from other areas due to weakened municipal services and settlement integration, putting the zones at risk of becoming isolated enclaves.
In response to these challenges, a shift in focus towards Special Economic Zones was adopted in 2012 in line with the SEZ Act. Mashatile stated that under President Cyril Ramaphosa's leadership, the country is entering the third phase—the Spatial Industrial Development Strategy. To stimulate production-based industrialization, the South African government has identified key economic sectors.
The new Spatial Industrial Development Strategy requires that every new zone be assessed against six criteria: infrastructure corridors (ports, railways, and energy), resource base (from Bushveld platinum group metals to agricultural belts), existing industrial parks (such as Isithebe, Ezakeni, Babelegi), district development model, socio-economic data (zones should be located where job needs are greatest), and community integration (a zone will not succeed if the neighboring settlement does not benefit).
Mashatile noted that there are 5,400 SEZs globally competing for the same capital. He stressed that competition should be based not on the lowest price, but on strategic importance, reliability, and inclusivity. He addressed SEZ leaders, stating that their effectiveness will be measured every five years not by glossy brochures, but by the actual number of jobs and exports.
Parks Tau reported that DTIC has adjusted its focus within the Cabinet-approved Industrial Development Strategy. This strategy represents a calculated response to the country's current economic difficulties. It aims to address three issues: decarbonization, transitioning industrial production to low-carbon technologies and cleaner energy systems; diversification, expanding the production base and export markets; and digitalization, implementing technologies that enhance productivity across all sectors.
Tau confirmed that SEZs have proven themselves as drivers of industrialization. He cited global data indicating that over 7,000 SEZs operate worldwide, and in China, national SEZs account for 22% of GDP, 45% of foreign direct investment, and 60% of exports.
The Minister also noted that South Africa's own experience, though smaller, is real and holds untapped potential. Currently, thirteen SEZs are established across eight provinces, hosting two hundred twenty-four companies with cumulative investments totaling R31.7 billion, representing a net increase of R17.2 billion over eight years. Tau concluded that the conference takes place at a complex yet opportune moment, as South African products face a more competitive global market due to rising trade barriers such as tariffs and trade measures disguised as environmental policy. Instead of abandoning export-oriented growth, this should serve as an impetus for diversifying export destinations.
JK Cement Ltd announced on Saturday a 15.3% decline in consolidated net profit during the June quarter. The profit amounted to 274.62 crore rupees.
According to the regulatory filings of JK Cement Ltd (JKCL), in the same period last year, the company earned a profit of 324.25 crore rupees. For the June quarter, operating revenue increased by 20.25%, reaching 4,031.72 crore rupees compared to 3,352.53 crore rupees the previous year.
JKCL's total expenses for the June quarter were 3,664.82 crore rupees, showing an increase of 25.5%. JKCL's total income, which includes other receipts, reached 4,070.97 crore rupees, marking a growth of 19.41% in the first quarter of the 2027 fiscal year.
