South Africa’s capital loses R155 million, and all the companies Jannie Mouton owns
Little changed for the rand on Thursday, as lower-than-expected producer inflation data was offset by a firmer dollar.
The rand traded at 15.98 to the dollar on Thursday, with little change from its previous close.
South Africa’s producer inflation cooled to 5.7% year-on-year in July, down from 7.5% in June, according to Stats SA.
Economists polled by Reuters had expected it to ease to 6.1%, while Nedbank economists projected a reading of 6.3%.
“The risks to the inflation outlook remain skewed to the upside, primarily due to the uncertainty surrounding the conflict in the Middle East,” Nedbank economists said, despite the print coming in below market expectations.
The dollar was firmer on Thursday against a basket of currencies, as markets await new policy signals from U.S. Federal Reserve chair Kevin Warsh.
Like other risk-sensitive currencies, the rand tends to take its cues from global developments, including U.S. economic data and policy signals, as well as domestic economic data.
South Africa’s 2035 benchmark government bond was weaker, with the yield rising by 1.5 basis points to 8.47%.
On Friday, 28 August, 2026, the rand was trading at R16.00 to the dollar, R21.75 to the pound, and R18.64 to the euro. Gold is trading at $4,584.74 an ounce, while oil prices were at $89.31 a barrel. [Reuters]
5 important things
South Africa’s capital lost R155.4 million because notices were not issued on time: The Tshwane Metro lost R155.4 million in development funds because statutory notices were not issued on time. [Newsday]
All the companies billionaire Jannie Mouton owns: Billionaire Jannie Mouton is one of South Africa’s most successful investors, with his early bets on Capitec and PSG Financial Services earning him the “Boere Buffett” nickname. [DailyInvestor]
Gaming price increases hit South Africa: Price increases have hit the video game market in South Africa, which is expected to cause a downturn in sales of PlayStation and Xbox titles. [MyBroadband]
New R400 million shopping mall opens in South Africa: Fleurhof mall has opened its doors in Johannesburg, measuring nearly 20,000 square metres. [BusinessTech]
Dip in Western Cape dam levels raises fresh concerns about water security: Dams across the Western Cape have seen slight drops in water levels, raising questions about the area’s water resilience. [EWN]
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