No speed traps in major South African metro, and new smart city taking shape
The rand slipped on Friday but hovered near the R16/$ level as traders looked ahead to next week’s interest rate decision for signals on the central bank’s policy stance.
The rand traded at 16.1825 per dollar, roughly down 0.3% on Thursday’s close but still near its strongest level since June 2022.
Analysts said record-high gold prices, improved fiscal indicators, a credible central bank and sustained dollar weakness have supported the currency.
The risk-sensitive rand, which often tracks major global drivers such as U.S. policy, has gained more than 2% against the dollar since the start of 2026.
Analysts said that a test of 16.00 per dollar may be possible, should gold hold above $4,800 an ounce, and the dollar continues to weaken.
The dollar was last flat against a basket of currencies, while gold inched toward another record high of $5,000 an ounce, supported by geopolitical uncertainty.
Analysts cautioned that South Africa’s weak growth outlook, uncertainty over its continued inclusion in the African Growth and Opportunity Act, reliance on a potentially overvalued gold price and the rand’s inherent volatility all suggest the currency’s recent gains may prove fragile.
The South African Reserve Bank will deliver its monetary policy decision next week, after cutting its main lending rate by 25 basis points in November.
On the Johannesburg Stock Exchange, the Top-40 index was up 0.7%.
As of Monday, 26 January, the rand is trading at R16.08 to the dollar, R21.97 to the pound, and R19.08 to the euro. Gold is currently valued at $5064.15 per ounce, while oil prices have increased to $65.90 per barrel.
5 important things happening in South Africa today
Speed cameras down – for now: It has been reported that the contract with Syntell, which supplied the cameras and processing system for fines, expired on 23 December 2025, and no replacement has been appointed. This means Johannesburg has lost all its speed cameras, halting speed enforcement by the Joburg Metro Police Department. [Moneyweb]
New smart city taking shape: A planned smart city in Stellenbosch is already taking shape, with a major industrial customer opening a new warehouse and offices at the project, while bulk infrastructure work is underway. [MyBroadband]
R400 billion gut punch for South Africa: The maintenance backlog for water and sanitation systems will cost around R400 billion to fix, according to Water and Sanitation Minister Pemmy Majodina. However, only R26 billion is budgeted for these services in the 2025/26 financial year, including municipal grants. [Newsday]
Cutting prime won’t matter: Investec CEO Fani Titi said that the potential scrapping of the prime rate for pricing retail loans will have little impact on consumers. This comes after reports that the Reserve Bank is considering the prime rate, which has been 350 basis points above the repo rate since 2001. [News24]
Big changes for Afrikaans Uber: The Afrikaans e-hailing operator Wanatu is restructuring its business model and revamping its services in an effort to respond to user complaints. [TopAuto]
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