DStv shutting down more channels, and Toyota owners warned of new hijacking tactic in South Africa
The South African rand strengthened slightly on Friday, supported by strong gold prices as investors awaited the US non-farm payrolls data later in the day for insights into the Federal Reserve’s interest rate trajectory.
The rand was trading at 16.34 against the dollar, an increase of about 0.2% from its previous close.
Gold, a significant export for South Africa, had firmed and was poised for its biggest weekly gain since January.
This was buoyed by declining oil prices and decreasing inflation expectations amid hopes for peace in the Middle East.
The US dollar remained relatively unchanged against a basket of currencies as traders awaited the non-farm payrolls report.
Economists surveyed predicted that 80,000 jobs would have been added, with the unemployment rate remaining steady at 4.2%.
On the domestic front, South Africa’s net foreign reserves increased to $71.76 billion at the end of July, up from $71.34 billion in June, according to central bank data.
On Saturday, 8 August 2026, the rand was trading at R16.15 to the dollar, R21.77 to the pound, and R18.65 to the euro. Gold is trading at $4,342.23 an ounce, while oil prices were at $83.55 a barrel.
5 important things happening today
Changes to speed limits: MultiChoice SA LicenceCo is shutting down M-Net Movies 1, kykNET Lekker, Mzansi Bioskop and Mzansi Music as part of the ongoing review of the DStv channel portfolio. [MyBroadband]
Eskom’s plan will leave South Africans poorer: Toyota Land Cruiser owners are being warned about a new carjacking method called CAN-bus injection. Thieves access the vehicle’s data network through connectors like the headlight or wheel arch to inject commands that make the car believe the key is present. [TopAuto]
Government takes some control over the 2026 Rugby Greatest Rivalry Tour: The South African government has officially designated the 2026 Rugby Greatest Rivalry Tour as a protected event. This gives organisers additional legal protection over branding linked to the highly anticipated Springboks-All Blacks fixtures while also placing procurement and empowerment requirements on the event. [BusinessTech]
South Africa’s oldest food producer in hot water: Solidarity has raised concerns about Premier Group’s decision to shutter its Tulbagh factory, which could affect 3,000 workers. [Daily Investor]
Jacob Zuma’s R246 million Nkandla falling apart: Minister of Public Works and Infrastructure, Dean Macpherson, said it’s not the department’s responsibility to maintain Nkandla’s facilities. Kubukeli from the MK Party noted the property’s deterioration due to the department’s neglect. [Newsday]
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