New high-speed train on the cards, and international tech company to open first store in South Africa
The South African rand strengthened on Friday after a global financial crime watchdog removed the country from its list of nations subject to increased monitoring.
The rand traded at 17.25 against the dollar, about 0.5% stronger than its closing value on Thursday.
Analysts noted that South Africa’s removal from the Financial Action Task Force’s “grey list” enhances the country’s reputation and financial system.
They also mentioned that being off the grey list should facilitate and lower the costs for South African banks and companies doing business internationally, boosting confidence for both investors and the rand.
The dollar maintained a steady position against a basket of currencies after U.S. inflation rose slightly less than expected in September, keeping the Federal Reserve on track to potentially cut interest rates again next week.
On the Johannesburg Stock Exchange, the Top 40 index was down 0.2%. Additionally, South Africa’s benchmark 2035 government bond showed improvement, with the yield decreasing by 5 basis points to 8.88%.
On Monday, 27 October, the rand was trading at R17.34 to the dollar, R23.10 to the pound and R20.13 to the euro. Oil was trading slightly lower at $65.71 a barrel.
5 important things happening in South Africa today
High-speed train: The Department of Transport (DoT) has proposed a new 300 km/h high-speed railway between Johannesburg and Durban, aiming to enhance long-distance regional transit in South Africa. Transport Minister Barbara Creecy initiated a request for information (RFI) to seek insights from private partners on innovative investment ideas for faster and safer regional trains, along with four other potential passenger rail projects. [Moneyweb]
Chinese TV giant opening first South African store: Chinese consumer electronics giant Hisense is set to open its first physical store in South Africa next month at Canal Walk Shopping Centre in Cape Town. This flagship store will mark the company’s standalone debut in the country. [News24]
South Africa is under cyber attack: South Africa has experienced 110 cybercrime incidents involving extortion, ransomware, and state hacking in the past five years, according to Orange Cyberdefense’s inaugural Security Navigator Africa report. This is the highest number in Africa and more than double Egypt’s, which ranked second with 46 incidents between 2020 and September 2025. [MyBroadband]
EU doubles down on commitment to South Africa: While South Africa struggles with tariffs from the United States, its relationship with the European Union has strengthened. At the SA-EU summit in March, the EU announced a €4.7-billion Global Gateway investment package aimed at enhancing connectivity, local vaccine production, biomanufacturing, and clean energy. EU chief Ursula von der Leyen assured President Cyril Ramaphosa, “We know that others are withdrawing. We are here to stay.” [Daily Maverick]
Interest rate expectations split: South Africans may see another interest rate cut in 2025, as recent inflation data has created differing opinions on the future actions of the South African Reserve Bank (SARB). According to Bank of America, after a potential 25 basis point cut in November, the SARB is unlikely to make further cuts until the second half of 2026, possibly implementing two 25 basis point cuts in July and September, reducing the policy rate to 6.25%. However, other economists believe that rates will remain stable for the rest of 2025, anticipating 50-75 basis points of cuts throughout 2026. [BusinessTech]
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