Plan to end the use of driving licences as ID in South Africa, and WeBuyCars loses R12.9 billion
The rand is expected to remain stable this week, with no significant releases that could unsettle local markets.
In South Africa, the only notable release will be the August mining production data scheduled for Tuesday. As a result, market attention will shift towards international numbers for guidance.
Nedbank economists predict that mining production will remain in contraction, primarily due to high domestic input costs, softer commodity prices, and subdued global demand.
However, they anticipate that the year-on-year rate of decline will moderate from 7.5% in July to 3% in August.
“Markets are anticipating that US headline inflation will rise from 3.4% year-on-year in August to 3.6% in September, while core inflation is forecasted to increase slightly from 2.4% to 2.5%,” the bank stated.
Additionally, other major economies are set to release inflation data, with increases expected across the board as the world contends with rising fuel prices influenced by actions taken by the United States.
In the EU, final inflation figures are expected to confirm the preliminary estimate of 3.8% year-on-year in September.
China will also release its trade and inflation data, with markets expecting the Consumer Price Index (CPI) to rise from 0.8% year-on-year to 1.1% in September.
Global inflation data will be released a week ahead of South Africa’s own figures, which will be published on 21 October.
This data is a significant indicator influencing interest rate trajectories, with economists warning that further interest rate hikes may be on the horizon.
On Monday, 12 October 2026, the rand was trading at R16.49 to the dollar, R21.84 to the pound, and R18.48 to the euro. Gold is trading at $4,195.10, while oil prices were at $103.40 a barrel.
5 important things happening in South Africa today
Plan to end the use of driving licences as ID: The Department of Transport plans to amend the National Road Traffic Regulations to stop the use of Traffic Register Number (TRN) certificates, and learner’s and driving licences as identity documents. [MyBroadband]
WeBuyCars loses R12.9 billion: WeBuyCars’ share price plummeted by 54.3% over the last year, which means that the company’s market cap declined by R12.9 billion. [Newsday]
State-owned company hit hard by SARS: Postbank reported a R44.52 million interest charge from the South African Revenue Service (SARS) in the 2025/26 fiscal year. This is the first time in four years that Postbank incurred penalties from SARS, with the bank saying this single item prevented it from reporting a R42 million before-tax profit. [Daily Investor]
Richest city buried under trash: Johannesburg’s waste issues are resurfacing. After a recent collection crisis, Pikitup has again missed refuse pickups in various city areas, citing contractual disputes and grounded trucks. [eNCA]
Big developments at OR Tambo International Airport: ACSA has outlined a plan to complete a 180,000m development at OR Tambo International Airport. The pandemic halted the project, leaving only phase one: Aviation Park, which includes 33,000m of office space and ACSA’s head office, about a fifth of the original vision. [Mail & Guardian]
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