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Stef and Daneel Steinmann couldn’t buy the vintage Springbok jerseys they kept seeing around Stellenbosch in 2019, a Rugby World Cup year when green and gold were everywhere, so after roughly 100 emails they found a supplier and started their own brand, Old School SA. Six years on, Old School holds official partnerships and licences with the Springboks, Orlando Pirates, Kaizer Chiefs, Manchester City and the NBA, and operates branded stores across the country. With Bafana Bafana back at the Football World Cup for the first time in 16 years, Old School is now the official supporters’ brand, and their Bafana kit has become so popular that, as Stef Steinmann puts it, “people are sleeping in their jerseys.” In an interview with BizNews, he reflects on their journey and the brother dynamic, how Daneel knocks on doors “making promises” while Stef makes sure those promises are kept, a balance that works. Daneel is already on the ground with Bafana Bafana in Mexico, where they played their first match, while Stef, delayed by a visa issue, is holding the fort in South Africa. What does he attribute their meteoric success to? Uniting people behind the teams they love, because people tend to remember who they were with during the big sporting moments more than the match itself. - Linda van Tilburg

In today's BizNews Daybreak: Global markets rallied after President Trump halted planned military strikes against Iran.

In South Africa, the Patriotic Alliance clinched a major by-election victory in Malmesbury, weakening established parties. Meanwhile, Alec Hogg unpacked South Africa’s overlooked multi-billion rand gold mining fortune.

Finally, we highlight Adobe’s executive shakeup amid strong AI product demand and rising concerns that steep ticket prices are excluding ordinary soccer fans from the 2026 FIFA World Cup.

Alec Hogg opens with a thesis from Merrill Lynch veteran Dr. Duarte de Silva: South Africa's abandoned gold mines and tailings dumps — written off at $300–$800/oz — are generating margins above $3,000 per ounce at today's prices. The Witwatersrand Basin still holds as much gold as has ever been extracted from it. Yet exploration spend has collapsed 95% from its 2006 peak. On the JSE: Wesizwe Platinum surges 90% as its year-long trading suspension lifts; Pan African drifts lower despite a sound Australian acquisition; Fortress Real Estate impresses on logistics; Alexander Forbes delivers flat earnings on strong revenue; and Bell Equipment executes a textbook CEO handover. Globally: the ECB raises rates, Belfast burns, and OpenAI flags Chinese disinformation targeting US data centres.

In the latest Electoral Road Show with Chris Steyn, Elections Analyst Wayne Sussman describes how Gayton MacKenzie’s Patriotic Alliance (PA) is continuing to march onwards and upwards “weakening” both the Democratic Alliance (DA) and the African National Congress (ANC) in the Western Cape. In the latest by-election, the PA won 53% of the vote in Malmesbury Wesbank. “This used to be the safest DA municipality in the country. And in 2024, the Patriotic Alliance burst through that wall by winning the seat off the DA.” Sussman also comments on GOOD and Rise Mzansi joining forces behind mayoral hopeful Brett Herron; the ANC’s elevation of Dada Morero to intervention convener for Gauteng’s troubled municipalities; the late President Nelson Mandela's grandson Mandla eyeing a mayoral chain in the Eastern Cape; and Buffalo City Mayor Princess Faku coming under fire for taking officials on overseas trips to China and Germany while the municipality is struggling financially. “Next week we have two Buffalo City by-elections…It'll be interesting to see whether this issue, this debacle, hurts the ANC because both of the seats are ANC seats.”

In today's BizNews Daybreak: Oil spikes after the US military launched retaliatory strikes on Iran, pushing May US inflation to a three-year high of 4.2%.

Meanwhile, Oracle shares dipped 6% over cloud capex fears, Bill Gates testified on Capitol Hill regarding Jeffrey Epstein, and SpaceX's historic IPO drew $250 billion in institutional demand.

Locally, explosive leaked chats reveal top South African cops threatening activist Yusuf Abramjee, gun owners fight the Firearms Control Amendment bill, and Spar SA shares surprisingly rose despite obliterated profits.