Shoprite Checkers pulls cereals from shelves, and Eskom’s big failure

South Africa’s rand remained stable on Wednesday (26 March) as investors awaited U.S. President Donald Trump’s plans for reciprocal tariffs.

There are concerns that these tariffs could lead to an economic slowdown in the world’s largest economy.

The rand traded at 18.28 against the U.S. dollar, the same level as its closing rate on Tuesday. Trump mentioned on Monday that not all of the tariffs he threatened would be imposed next week, and some countries might receive exemptions.

According to ETM Analytics in a research note, “There is an increasing sense that the U.S. economy is slowing, and the Trump administration does not want to worsen a downturn by strictly enforcing tariffs.”

On Thursday (27 March), the rand was trading at R18.22 to the dollar, R23.54 to the pound and R19.64 to the euro. Oil is trading lower at $73.88 a barrel.

Here are five other news stories making waves in South Africa today:

Cereals recalled: Shoprite has voluntarily recalled all the cereal products manufactured for it by Heartland Foods due to inaccurate nutritional labelling from its stores, including Checkers, Usave and OK Foods. [News24]

Eskom’s failure: The power utility aimed to achieve an average Energy Availability Factor (EAF) of 65% across its generating fleet by the end of the previous financial year on 31 March 2024. However, it fell short of this target and is expected to miss it again by the end of 31 March 2025. [MyBroadband]

Ford to invest millions more into South Africa: Ford Motor Company is investing tens of millions more into its Silverton assembly plant, following the R5.2 billion investment announced in 2023 for the production of the Ford Ranger Plug-in Hybrid Electric Vehicle (PHEV). [Moneyweb]

Greylist win: South Africa is recognised as the leader in real estate data collection and regulation among 24 countries. This achievement is a significant step in the country’s efforts to escape the limitations of the greylist, which increase costs and scrutiny for banks and negatively impact its reputation as a secure financial hub. [Business Day]

R300,000 for a traffic light: The City of Johannesburg has announced that repairing a vandalized traffic light now costs up to R300,000 due to the need for enhanced durability. Mayor Dada Morero noted that 250 intersections have been affected by vandalism. [EWN]