The one thing in Cape Town ranked worst in the world, and Vodacom spends R7.7 million to protect its CEO
The rand remained stable last week as investors monitored the prospects for a potential deal to end the conflict in Iran and shifted their focus to next week’s domestic inflation data.
The rand was trading at 16.34 against the U.S. dollar, down approximately 0.4% from its previous close.
In a social media post, US President Donald Trump denied an Iranian report regarding the terms of the potential peace deal between the two sides.
Like other risk-sensitive currencies, the rand is significantly influenced by global market sentiment, especially since the outbreak of the Iran conflict in late February.
Investors will be looking at the May inflation and retail sales data due next week for insights into the health of Africa’s largest economy.
“The Middle East war is expected to wind down this quarter, which could lead to drops in fuel prices and lower inflation; however, there are some upside risks,” stated Investec chief economist Annabel Bishop.
On the Johannesburg Stock Exchange, the Top-40 index was last reported to be up by 1.9%.
On Monday, 15 June 2026, the rand was trading at R16.16 to the dollar, R21.73 to the pound, and R18.76 to the euro. Gold is trading lower at $4,327.94 an ounce, while oil prices were at $83.27 a barrel.
5 important things happening
Cape Town has the worst port in the world: The World Bank’s Container Port Performance Index (CPPI) 2025 ranked Cape Town as the worst port in the world. The index provides a global, data-driven assessment of container port performance based on observed vessel time in port. [Newsday]
Vodacom CEO’s R7.7 million personal security bill: Vodacom’s annual report states that CEO Shameel Joosub earned R137.4 million before tax, including long-term incentives and R7.72 million for security arrangements due to his role’s risk profile, averaging about R640,000 a month. [Business Day]
WeBuyCars biggest competitor: Chinese vehicles are causing major disruptions across South Africa’s used car market, squeezing margins for retailers whose business is primarily built on established brands. This is according to new data from AutoTrader, which highlighted that Chinese cars are being offered at attractive price points that legacy automakers are struggling to compete with. [TopAuto]
It’s becoming harder to run a business in South Africa: Running a business in South Africa is becoming increasingly difficult as companies contend with a sluggish economy, mounting regulatory requirements, skills shortages, and the failures of state institutions. This is according to Efficient Group chief economist Dawie Roodt, who told Daily Investor that the challenges facing businesses have become so entrenched that they now pose a significant barrier to economic growth. [Daily Investor]
Eskom before and after President Cyril Ramaphosa: The Eskom that President Cyril Ramaphosa inherited from former President Jacob Zuma looked very different from the entity it is today, and has managed to end load-shedding. While this did not come to fruition overnight, a major policy change made by Ramaphosa in 2021 and 2022 could arguably be credited with ending load-shedding. [MyBroadband]
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