End of an era coming for TV licences in South Africa, and three private ‘universities’ getting shut down
The South African rand remained steady on Friday, buoyed by higher gold prices.
Traders are looking ahead to consumer inflation data set to be released next week, which will provide insights into the health of Africa’s most industrialised economy.
The rand was trading at 16.8625 per dollar, showing little change from Thursday’s close, as gold prices hovered near a seven-week high.
As a major producer of precious metals, South Africa typically benefits from rising bullion prices.
According to ETM Analytics, the rand seems poised to end the week on a strong note, supported by improved risk sentiment.
Other significant releases this week include the South African Reserve Bank’s third-quarter bulletin on Monday and producer inflation figures on Thursday.
On the Johannesburg Stock Exchange, the Top-40 index rose by 1.6%.
On Monday, 15 December, the rand was trading at R16.86 to the dollar, R22.51 to the pound and R19.78 to the euro. Oil was trading slightly lower at $61.44 a barrel.
5 important things happening in South Africa today
End of an era coming for TV licences: South Africans may be seeing the beginning of the end of the SABC TV licence scheme, with a device-neutral household levy proposed as a replacement. The Department of Communications and Digital Technologies has tasked BMI TechKnowledge to create a sustainable funding model for the broadcaster, set to be finalised by 6 February 2026. [MyBroadband]
Three private ‘universities’ shut down: Higher Education Minister Buti Manamela has announced plans to cancel the registration of Damelin, City Varsity, and ICESA City Campus due to ongoing non-compliance with the Higher Education Act. While these institutions are commonly referred to as ‘universities’, only government-run higher education institutions can be considered universities. [Business Day]
Battle to keep Starlink out: The African National Congress (ANC) has criticised and is fighting Communications Minister Solly Malatsi for allegedly overstepping his authority by directing the telecoms regulator, Icasa, to change equity ownership rules that may benefit foreign operators like Starlink. [Newsday]
Mr Price R9 billion wipeout: Mr Price’s shares fell nearly 18% this week, erasing over R9 billion in value on the JSE, amid ongoing market concerns about its proposed R10 billion acquisition of German retailer NKD announced on 10 December. Analysts have criticised the deal’s size and timing, as well as the company’s strategic shift, noting that South African retailers have struggled with international ventures in the past. [News24]
Major step towards the end of Eskom’s monopoly: Energy expert Chris Yelland has noted that Eskom has quietly advanced its virtual wheeling initiative by awarding a contract to Johannesburg-based Enerweb to develop a software platform that will automate its new wheeling model. This step is crucial for facilitating the transfer of electricity from independent power producers (IPPs) to smaller customers connected to the Eskom distribution network and compliant municipalities. [Moneyweb]
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