Top Pretoria private school in hot water, and Ramaphosa’s message after United States blow
The rand weakened slightly ahead of municipal elections, while investors assessed the implications of Washington’s decision to suspend the country from a key US trade programme from 2027.
The rand traded at 16.6425 against the dollar at 1304 GMT, about 0.3% down from its previous close
Investors are watching the local municipal elections for signs of shifting voter sentiment over concerns about corruption, crime, and public services
US Trade Representative Jamieson Greer notified Congress that South Africa and Rwanda would be suspended from the African Growth and Opportunity Act (AGOA) from January 1, 2027, citing concerns over human rights, corruption and threats to US interests
The economic impact is likely to be less severe than headlines suggest, ETM Analytics said in a note, adding that markets had largely priced in the move, limiting the rand’s reaction
South Africa’s trade ministry said late on Monday it would support sectors affected by the decision and continue pursuing trade, investment and broader economic opportunities with the US
On the Johannesburg Stock Exchange, the Top-40 index was down about 0.7%, while the benchmark 2035 government bond was slightly firmer, as the yield fell 1.5 basis points to 8.52%. [Reuters]
On Thursday, 5 November 2026, the rand was trading at R16.33 to the dollar, R22.04 to the pound, and R18.39 to the euro. Gold is trading at $4,136.72, while oil prices are at $93.74 a barrel.
5 important things happening in South Africa today
Pretoria private school in hot water: Pretoria’s elite Cornwall Hill College has issued an apology to parents after World Sports Betting branding and promotional material were presented to preschool learners during a class activity. [TimesLive]
Ramaphosa’s message after the United States blow: While expressing regret over South Africa’s removal from AGOA, President Cyril Ramaphosa stated that the country prefers to move away from unilateral arrangements and instead negotiate a bilateral trade agreement with the United States that respects the sovereignty of both nations. [EWN]
2026 election results: Early results from the 2026 local government election are coming in as the Electoral Commission of South Africa (IEC) counts the ballots, with the ANC and DA emerging as clear leaders. [Newsday]
Gayton McKenzie’s department guilty of irregular expenditure of R67 million: Under Minister Gayton McKenzie, the Department of Sports, Arts, and Culture faced escalating irregular expenditure found by the Auditor-General of South Africa, rising from R42 million in 2024/25—well above the department’s reported R10.43 million—to R67 million in 2025/26. [Daily Investor]
17 Home Affairs officials face criminal prosecution: Home Affairs Minister Leon Schreiber revealed that 17 officials at the department have faced disciplinary action in 2026 for unlawfully processing identity document applications. [MyBroadband]
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