Good news for South African passport renewals, and air travel under threat in South Africa
The South African rand experienced a decline on Wednesday following a slight increase in September’s headline inflation.
However, the rise was smaller than anticipated, which strengthens the argument for the central bank to consider resuming rate cuts.
The rand was trading at 17.46 against the dollar, representing a decrease of about 0.5% from its closing value on Tuesday.
Headline consumer inflation rose to 3.4% annually in September, up from 3.3% in August, and it was below the median forecast of 3.5% according to a Reuters poll.
Economists observed that recent dovish inflation trends could support a 25-basis-point interest rate cut by the South African Reserve Bank (SARB) at the upcoming Monetary Policy Committee (MPC) meeting in November.
On the Johannesburg Stock Exchange, the Top 40 index was down 0.6%, and the yield on the benchmark 2035 government bond increased by 3 basis points to reach 8.94%.
On Thursday, 23 October, the rand was trading at R17.44 to the dollar, R23.27 to the pound and R20.23 to the Euro. Oil was trading slightly lower at $64.65 a barrel.
5 important things happening in South Africa today
Good news for passport renewals: Home Affairs will begin offering passport deliveries to people’s doorsteps next month. This service will initially be available only to individuals who apply at one of the new international service centres. The plan is to test this offering with a smaller group before expanding it for a wider local launch. [News24]
Air travel under threat: Air Traffic and Navigation Services (ATNS) is facing challenges in filling critical positions, especially air traffic controllers (ATCs), as the loss of experienced staff exceeds the training pipeline’s capacity, jeopardising service delivery. According to its 2025 annual report, the situation is worsened by international competitors poaching employees. As a result, ATNS, responsible for ensuring air safety in South Africa, has initiated a project to attract back lost skills, potentially involving a review of its pay structure. [Business Day]
The engineer who cost South Africa R2.7 billion: Convicted fraudster Mshushisi Daniel Mthimkhulu, who falsified his engineering qualifications, has cost the people of South Africa at least R2.7 billion through a botched train tender. [MyBroadband]
The billionaire who bankrolled four parties in South Africa: Billionaire gambling tycoon Martin Moshal is one of South Africa’s largest individual donors to political parties, having contributed at least R103 million to four parties since the 2021/22 fiscal year. His donations are broken down as follows: R43 million to the Democratic Alliance (DA), R37 million to ActionSA, R15.5 million to Build One South Africa (BOSA), and R7.5 million to the Inkatha Freedom Party (IFP). [Newsday]
South Africa doubling down on nuclear: South Africa expects to lift the care and maintenance status of its Pebble Bed Modular Reactor (PBMR) by the first quarter of next year or even earlier, the electricity and energy minister said on Wednesday. [CNBC Africa]
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