Say goodbye to traffic fines as you know them, and Joburg crackdown hits Absa, WeBuyCars, and Engen
The rand strengthened after US President Donald Trump cancelled planned strikes on Iran, suggesting that a peace deal could be signed over the weekend.
This development could open the Strait of Hormuz to shipping, though Reuters reports that some analysts remain sceptical.
Iran has yet to approve any agreement, and Israel was not involved in the memorandum of understanding.
Iran’s semi-official news agency, Mehr, stated on Friday that the memorandum, which includes US commitments to lift sanctions and its naval blockade, “requires finalisation by the relevant authorities.”
Economists believe the rand could strengthen to R16.15 per dollar on Friday, with a possible range extending up to R16.45.
“Time will tell, but if the U.S. version of events is accurate, we expect JD Vance to travel to the Middle East as soon as this weekend. However, we have heard similar claims before,” said Nedbank.
Earlier this week, Trump threatened to confiscate Iran’s strategically significant Kharg Island.
The combination of lower oil prices and a stronger rand could contribute to anticipated cuts in diesel and petrol prices in July. Additionally, lower fuel prices may help to reduce inflation moving forward.
On Sunday, 14 June 2026, the rand was trading at R16.31 to the dollar, R21.85 to the pound, and R18.83 to the euro. Gold is trading lower at $4,210.90 an ounce, while oil prices were at $87.33 a barrel.
5 important things happening
End of an era for traffic fines: South Africa has less than a month left before the Administrative Adjudication of Road Traffic Offences Act (AARTO) is introduced nationwide. AARTO will make fundamental changes to South Africa’s traffic laws, introducing a new system for issuing and processing traffic fines for various infringements. [TopAuto]
Joburg crackdown hits top companies: The City of Johannesburg’s ongoing crackdown on illegal billboards has affected many top companies, including MTN, Absa, WeBuyCars, Jeep, Engen, and Dis-Chem. Over the last few months, the crackdown has escalated significantly into a major revenue-recovery and compliance blitz. [Newsday]
DStv-owner cuts jobs: MultiChoice has lost about 10% of its South African workforce through a voluntary severance programme as part of Canal+’s broader restructuring to drive growth and cut costs.
[Business Day]
South Africa’s largest food producer cuts off Eskom: Tiger Brands announced that its Culinary facility in Boksburg has become one of its manufacturing sites across South Africa, powered by solar energy. This means the facility is effectively no longer reliant on Eskom for its electricity and is no longer exposed to the utility’s sharply rising electricity costs. [Daily Investor]
Makro and Pick n Pay want people’s old batteries and broken gadgets: Large retailers in South Africa are engaged in large e-waste recycling drives, including Pick n Pay and Makro, which has the longest-running recycling initiative in the country. In 2023, the E-Waste Recycling Authority (ERA) hosted an event where South Africans could receive R2,400 in Makro vouchers for bringing e-waste to be recycled. [MyBroadband]
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