Today's edition
Shelf Invasion
Good morning. Mr DIY is growing quickly across South Africa, but its nine stores here tell only a fraction of the story of just how big this Malaysian retailer is. Meanwhile, markets had a week of their own: Bitcoin had its best week in two years, while the rand briefly broke through R16 to the dollar.
And strangely enough, two of today’s biggest moves started in exactly the same place: Washington. Let’s get into it.
MARKETS
AISLE BE THERE
Mr DIY has opened nine South African stores, and 12% of what it sells is made here
Mr DIY opened its ninth South African store at Highveld Mall in eMalahleni last week, five days after opening at Saxony Westwood in KZN. The Malaysian chain sells household, hardware and lifestyle goods under the line Always Low Prices, and it does it at scale: past 1 000 square metres a store, with 17 000 to 18 000 products on the shelves. It started as one hardware shop in Malaysia in 2005 and now runs close to 5 000 stores across Asia and Europe. South Africa is the fourteenth country it has entered and the first on this continent.
What's on the shelves:
- Mr DIY's Malaysian listing is worth about R56.5 billion, against R44.3 billion for Mr Price, R42.9 billion for Woolworths and R14.4 billion for Pick n Pay.
- 46 South African suppliers across 11 departments cover 12% of the range. In saying that, one of its procurement specialists says there is no limit on which categories local suppliers can fill, and the target is 20%.
- The remaining 88% of its product lines is imported, with much of it own-brand stock made for Mr DIY.
SHORT CHANGED
Bitcoin's best week in two years started with a decision about American government bonds
Bitcoin ended Friday at $76,943.90, up 6% on the day and 22% on the week, its strongest run since March 2024. It started that week near $62,800. The initial trigger sat outside crypto entirely: on Wednesday the US Treasury said it would at least double its buybacks of long-dated government debt, so the interest rate on that debt came down and money moved back towards riskier assets. Treasury Secretary Scott Bessent has since said he may go further.
But the buying was not all voluntary. Roughly $2.7 billion of shorts - essentially bets that crypto prices would fall - were force-closed over the week, as the price ran through the levels those traders could carry. Sentiment did its bit too. Donald Trump pushed the Senate to pass the stalled Clarity Act, the bill that would finally settle which American regulator oversees crypto. That matters because big investors like pension funds, banks and insurers are more likely to put money into crypto when the rules around it are more clear.
BAGEL BITE
Which is the only mammal capable of true flight?
A. Colugo
B. Flying squirrel
C. Bat
DOING THE ROUNDS
Spur Corporation is shutting John Dory's branches that no longer pay their way, but it is not selling the brand. Seven restaurants closed last year and two opened, leaving 39 outlets against 55 in 2020. Revenue fell 17.4% and profit 23.3%, which finance chief Cristina Teixeira placed at the bottom of Spur's South African brands. Spur bought 60% of the chain in 2004, when it was a seven-restaurant franchise in KwaZulu-Natal, and chief executive Val Nichas says outlets will be converted or closed as the group trims the portfolio. Full story →
Volkswagen's Kariega plant built 17 009 cars in July. 13 490 of them were Polos, and the month beat both the 16 670 of July 2025 and the 977 that the Eastern Cape factory turned out in its first full year. The record lands days before the Volkswagens marks 75 years in South Africa on 31 August. Kariega supplies Europe and Asia-Pacific with Polo hatchbacks, a job with no successor lined up. Full story →
The rand touched 15.99 to the dollar on Friday, its first trip below R16 since February. It was about 0.8% firmer on the day, and the move traced back to that same Washington event: the US Treasury plans to at least double its buybacks of long-dated government debt, and Secretary Scott Bessent says he may go further. That pushed the dollar down and sent money towards riskier currencies that pay more, and gold heading for a third straight weekly gain certainly helped. By Sunday the rand had drifted back to about 16.02. Full story →
Trustco must pay the JSE's R5 million fine after a tribunal threw out its challenge. In 2022 the company cut its stake in Meya Mining, which owns a diamond mine in Sierra Leone, from 65% to 19.5% without putting the deal to shareholders. The JSE valued Trustco's share at R460.5 million, or 89% of what the whole company was worth, and censured it in October 2025. The Financial Services Tribunal dismissed the challenge on 20 August, so the money is now due, and Trustco's shares have been suspended since January 2025 over late financial statements. Full story →
WEATHER
BAGEL GAMES
Have you got what it takes to win today’s Wordle? Play here →
THE ANSWER
As for the Bagel Bite, the answer is: C. Bat
A bat’s wing is actually a modified hand, with a thin skin membrane stretched between elongated finger bones. This allows bats to flap, steer and generate lift, unlike mammals such as colugos and flying squirrels, which can only glide. There are more than 1,400 known bat species, making up roughly one fifth of all mammal species.
That's your Monday sorted. Enjoyed it? Forward it on, a friend can subscribe in a click. Written by the Business Bagel crew.
