On a crisp morning in May 1985, as SA turmoil reached fever pitch, a bold new broadsheet quietly hit the streets with a headline “Profits Crash for Retailers OK Bazaars”.
Business Day was born at a moment of paradox — just days after the venerable Rand Daily Mail had been controversially shut down for its anti-apartheid stance, leaving a void in courageous journalism. Into that void stepped Business Day, billing itself as “the national newspaper for decisionmakers”.
Modelled in part on London’s Financial Times, this newcomer pledged to cover more than stock prices. It would track corporate news, economic policy and markets — and so with a liberal, forward-looking voice that was unafraid to shine a light on the upheavals reshaping SA.
Every weekday since, for 40 eventful years, Business Day has endeavoured to set the country’s business agenda, combining global style and analytical rigour with a distinctly SA journalistic flair. The result was a publication that became renowned for authoritative, bold reporting on both the boardroom and broader socioeconomic arena.
Defiance
Launched on May 1 1985 — at the peak of apartheid — Business Day marked an inflection point in SA media. It emerged as the direct successor to the defunct Rand Daily Mail, a legendary anti-apartheid newspaper forced to close amid government pressure in 1985. SA was under pressure: a state of emergency loomed, sanctions bit and even business was gingerly opening dialogues with the banned ANC in exile. Business Day embraced this backdrop.
“Stanchart Won’t Bow Down to Pressure to Quit”, is one headline for the 1987 edition, capturing a moment of significant defiance in the face of sanctions and mounting pressure amid the apartheid-era tensions. It was a declaration that business news did not exist in a vacuum separate from the country’s political upheavals. Such content was unusual for a financial daily, but it underscored Business Day’s core belief that politics, society and economics are intertwined.
In those early years, the newsroom buzzed with urgency. Reporters typed out stories on clattering typewriters and transmitted copy via telex — a world apart from today’s instant digital feeds. Yet, journalism was cutting edge for its time. The coverage of PW Botha’s notorious 1985 “Rubicon” speech, which triggered a financial crisis, appeared alongside analysis of the JSE’s tumble. The paper’s mission was clear then as it is now: provide decisionmakers with unflinching news and context, even if it meant ruffling feathers.
National discourse
By the late 1980s and early 1990s, Business Day had firmly established itself as a must-read for the business elite and those seeking insight into SA’s uncertain trajectory. Its influential opinion pages feature prominent thinkers and lively letters, offering a window into the national discourse. When Nelson Mandela walked free in the 1990s and the economy braced for a new era, Business Day was there to interpret the implications for investors and citizens alike.
The newsroom buzzed with urgency. Reporters typed out stories on clattering
typewriters and transmitted copy via telex.
Through negotiations and the 1994 elections, its pages blended factual reporting with incisive commentary. The newsroom’s ethos remained “forward-thinking”, striving not just to recount events but to explain their “so what” — the likely impact on business and society.
If the late 1980s tested Business Day’s resolve, the 1990s would reaffirm its relevance. Under the SA democracy, Business Day turned its critical and analytical gaze on economic transformation. It tracked the rise of black enterprises and BEE deals with particular focus, holding leaders accountable for promises of inclusive growth. “Let’s Build a Great SA, Says Mandela”, screamed the Business Day headline on the front page piece covering his inauguration in May 1994. It captured the hope and determination of a nation on the brink of a transformation era. Beyond that, it is a striking example of Business Day editorial tone — one that values leadership and national building as central to economic and social progress.
By the time apartheid gave way to democracy in the early 1990s, Business Day was enjoying its salad days.
Under Jim Jones’s editorship, during the transition era, some editions stretched to 80 pages, packed with advertising, analyses, and the newspaper’s circulation hit record highs. By covering not only boardroom triumphs but also policy debates on jobs, trade and inequality, the paper solidified its reputation as “SA’s most influential and respected daily” on matters of governance and commerce.
As the 20th century drew close, the grey lady of SA business news was both an establishment voice and an agent of change, unafraid to call out corruption or applaud reforms. Little wonder that by the late 1990s global media players took note: Pearson PLC, owner of the Financial Times, bought a 50% stake in Business Day’s parent, ushering in a content partnership that brought an international dimension to the paper’s pages.
Embrace change
As the new millennium dawned, Business Day faced headwinds common to newspapers worldwide: the rise of the internet, shifting reader habits and new competition from online news platforms. True to its forward-looking spirit, the paper’s approach change was steady and evolutionary. It launched an online presence relatively early, initially as BDLive, which by the early 2010s had become the paper’s digital identity. This digital platform allowed Business Day to break news in real time, rather than waiting for the next day’s print editions — a fundamental change in approach.
The outlet deepened coverage on key issues, and introduced newsletters and multimedia content, experimenting with ways to engage an audience whose time was increasingly fragmented. By 2012, readers could access Business Day in both print, e-paper or on their phones and tablets via dedicated apps. Even Blackberry devices got some love. The once purely ink-on-paper publication was now omnipresent across platforms.
This era also saw the paper doubling down on quality analysis. “Defiant to Bitter End Mbeki: ‘I Did Not Meddle’”— this headline from our 2008 September editions captured the dramatic culmination of Thabo Mbeki’s recall as president, reflecting his steadfast denial of interfering in the Jacob Zuma corruption case. The headline exemplifies Business Day’s ability to report on governance shifts with clarity and authority, offering readers not just facts but deeper implications for SA’s economy.
Business Day’s editors still hand-pick the front page and section leads, prioritising significance
over sensationalism.
In 2015, the headline “Rand Crashes After Zuma Fires Nene” marked another critical governance moment, when then-president Zuma abruptly sacked finance minister Nhlanhla Nene. The decision sent shock waves through markets, with the rand plummeting and investors’ confidence shaken. Business Day documented the immediate economic fallout, as it did the broader ramifications for governance and public trust.
By March 2016, the headline “Jonas Threatened Before Revelation” signalled the beginning of the state capture unravelling saga. Deputy finance minister Mcebisi Jonas’ explosive disclosure of threats and bribery attempts by the Gupta family exposed the extent of corruption and influence peddling over state institutions. Business Day’s coverage of this revelation put it front and centre of the national conversations, chronicling the intersection of governance and economic stability.
Beyond markets
The newspaper also went beyond markets and balance sheets, covering sport, arts and books from a business-minded perspective. Wanted magazine, Business Day’s luxury lifestyle insert, has taken on a life of its own — championing curated elegance with a mix of high-end fashion, fine dining and the arts, all the while maintaining the sharp editorial tone that resonates with the publication’s core audience. Over the years, it has evolved into a brand synonymous with sophistication, proving that business professionals seek inspiration as much from markets as they do from culture and creativity.
From exclusive interviews with designers and chefs to features on global travel destinations and cultural icons, Wanted has become a trusted guide for those who value both substance and style. It proves that business professionals seek inspiration not only in markets but also in the richness of culture and creativity, blending the pragmatic with the aspirational in a way that feels uniquely Business Day.
Four decades of evolution
As Business Day turns 40 tomorrow, the paper celebrates a legacy that spans ink-on-paper traditions to digital revolutions. Milestone headlines on the opposite page reflect how the publications have chronicled moments that shaped SA.
Marking this anniversary with a bold redesign, Business Day now embraces a sleek, compact format — bringing print a magical tactile appeal with digital accessibility. With updated layouts and integrated cross-platform content, the paper continues to adapt to changing media landscapes without compromising depth or authority.
While Big Tech algorithms serve up fragmented feeds, Business Day’s editors still hand-pick the front page, section leads, prioritising significance over sensationalism. This human curation, whether in print or via the home page, provides readers with a sense of order and reliability. At the same time, the brand is embracing new storytelling tools — from podcasts to video interviews on Business Day TV to graphics online — to meet readers on their platform of choice.
Forty years on, Business Day remains as much a chronicler of SA economic history as it is an active participant in shaping its discourse. From profit crash headlines to Mandela’s Great SA vision, Mbeki’s recall and the market chaos of 2015, the paper has been there for every boom and bust, for every critical transition.
As it steps into its next chapter, Business Day recommits to the principles that have defined its journey — context, credibility, fairness, clarity, and balance in the service of its readers and the nation. One bold news report at a time.
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