Final Springboks fly-by cancelled after stunt, and international drug cartels taking over South Africa
The rand firmed on Wednesday as US payroll data showed slowing job growth in the country, weakening the dollar.
The rand was trading at 16.04 to the dollar, up approximately 0.8% since its last close, recovering some of its recent losses after gains were eroded by renewed conflict in the Middle East.
The dollar was down roughly 0.1% against a basket of currencies, as job losses were recorded in the U.S. manufacturing sector and other sectors.
This provided some support for risk-sensitive currencies such as the rand, which often takes its cues from global market sentiment and U.S. economic and monetary policy developments.
Additional labour market information is expected for the U.S. by the end of the week, which will give stronger cues to investors.
South Africa’s benchmark 2035 government bond strengthened, with the yield falling 2.5 basis points to 8.655%. [Reuters]
On Thursday, 3 September 2026, the rand was trading at R16.04 to the dollar, R21.65 to the pound, and R18.60 to the euro. Gold is trading at $4,431.07, while oil prices were at $95.01 a barrel.
5 important things
Airlink cancels last stadium fly-by: Airlink has pulled its application for a flypast over FNB Stadium in Johannesburg, where the Springboks will face the All Blacks in the final test of the Greatest Rivalry Tour. [MyBroadband]
South American drug cartels taking over South Africa: Ian Cameron, Chairperson of Parliament’s Portfolio Committee on Police, said that South American drug cartels are setting up bases in South Africa. [Newsday]
South African father and son created a unique product: Gordon and Dawid Bredenkamp are taking Damsak Reservoirs global, with plans to sell inflatable reservoirs up to 500,000 litres across the Middle East and Asia. [DailyInvestor]
Businesses pin hopes on November local elections: Business confidence remained subdued in South Africa in the third quarter, with the local elections seen as a key way to ease uncertainty. [BusinessDay]
SARS nails taxpayer with R2 million penalty: The South African Revenue Service has hit a taxpayer with a R3.6 million tax bill, including a R2 million penalty for fraudulent tax return filings. [BusinessTech]
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