Eskom's got competition. Finally.

Overnight global mood

US futures are holding steady as the market waits for Friday's inflation data. London opened flat, and Asia closed mixed with the usual China property concerns simmering in the background. It's the kind of global holding pattern that lets local stories breathe. The rand will be watching, but there's no major shock coming from overseas this morning.

Today's big stories

• Mines are breaking up with Eskom. South African mining firms are pouring billions into renewables to cut the cord from our beloved power supplier, saving millions in the process and hitting decarbonisation targets at the same time. It's the story we've been waiting for: South African industry quietly solving the problem government couldn't. Read more.
• Desert prosperity is real. Gamagara Local Municipality residents average R508,901 a year, making it the richest district in South Africa by personal income. Turns out mining towns in the middle of nowhere beat Sandton and the Waterfront when you do the maths. Read more.
• Sasol's refinery hiccup could ground planes. South African airlines are drawing up contingency plans after problems at a Sasol refinery threatened jet fuel supplies. Load shedding on the runway; this is the energy crisis playing out across every sector now. Read more.
• Sanlam taking the Ninety One hit. The country's biggest insurer saw headline and basic earnings diverge sharply in the first half of 2026, with the mega-deal fallout still weighing on the balance sheet. Nothing says "transformation success" like a R140 billion acquisition that takes time to pay off. Read more.

Sector watch

Keep an eye on mining stocks today, especially the broader players benefiting from renewable energy investment visibility. Energy names will react to the Sasol news and the larger narrative about power independence. Industrials tied to aviation and tourism supply chains should watch that jet fuel story carefully. Insurance stocks will be thin on enthusiasm while Sanlam digests its integration headaches.

One thing to watch

Watch how Sanlam (SNL) opens on that earnings divergence news. The Ninety One acquisition was supposed to be transformational, but paying full price for something that needs two years to integrate is a familiar South African story. Today's reaction will tell you whether the market is patient or paranoid.