Woolworths store under investigation, and DStv is in trouble
The South African rand remained stable against a weakening dollar in early trading on Wednesday, as investors awaited domestic economic data that could provide insights into the health of Africa’s largest economy.
The rand was trading at 15.9975 against the dollar, showing little change from its previous close.
The currency faced downward pressure on Tuesday after data revealed that South Africa’s economy contracted in the second quarter for the first time in nearly two years, primarily impacted by the fallout from the Iran war.
However, it has since recovered some of its losses, benefiting from the weakness of the US dollar and rising gold prices, as South Africa is one of the world’s largest exporters of the precious metal.
Attention will shift to current account, mining, and manufacturing figures set to be released on Thursday.
Investors are also awaiting the US producer price index data on Thursday and the consumer price index figures on Friday.
Like other risk-sensitive currencies, the rand often responds to global economic indicators as well as domestic data.
In early trading, South Africa’s benchmark 2035 government bond weakened, with yields rising by 3 basis points to 8.65%. [Reuters]
On Thursday, 10 September 2026, the rand was trading at R16.04 to the dollar, R21.67 to the pound, and R18.65 to the euro. Gold is trading at $4,411.7, while oil prices were at $101.10 a barrel.
5 important things happening today
Woolworths in hot water: Maggots were discovered in a Woolworths store in Johannesburg, prompting an investigation after a shopper shared video footage. The maggots were found under uncooked chicken packs at the Bel Air location. Woolworths is conducting a full inquiry into the incident. [TimesLive]
DStv under threat: Protea Capital Management founder and CEO Jean Pierre Verster said that more affordable entertainment offerings mean DStv is in a tough space. [Daily Investor]
New iPhone revealed: Apple unveiled its first foldable smartphone, the iPhone Duo, at its “Surprise and Shine” event on Wednesday, 9 September 2026. [MyBroadband]
Eskom’s new threat to solar users: Eskom still says it can cut supply to any solar or battery installation deemed to be “unsafe”. [BusinessTech]
R28.5 million paid to 16 suspended employees who sit at home: Minister of Transport Barbara Creecy revealed that the Road Accident Fund paid R28.5 million to 16 employees who are currently on suspension. [Newsday]
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