Storm brewing at the SABC, and South Africa’s richest city puts mafia groups in the crosshairs
The South African rand weakened on Monday as global investors assessed the potential duration of the United States government shutdown and its implications.
The rand, which is sensitive to changes in global risk sentiment, traded at 17.2500 against the dollar, just slightly down from its Friday close of 17.2475.
The shutdown has halted much of the US government’s operations, risking thousands of federal jobs due to partisan divisions that prevented Congress and the White House from reaching a funding agreement.
Investors focused on domestic markets will closely follow gold and foreign exchange reserves data on Tuesday, followed by manufacturing production figures on Thursday, to gain a better understanding of the health of Africa’s largest economy.
On Tuesday, 7 October, the rand was trading at R17.17 to the dollar, R23.14 to the pound and R20.09 to the Euro. Oil was trading slightly lower at $65.65 a barrel.
Here are five important things happening in and affecting South Africa today:
Storm brewing at the SABC: Insiders at the SABC revealed that the broadcaster may face retrenchments due to lost radio ad revenue, with 800 skipped ads reported in August 2025. This comes as South Africans are also saying goodbye to TV licences. The SABC collected only R758 million of R4.936 billion in TV licence fees, with about 15% compliance. [MyBroadband]
Mafia groups in the crosshairs: The City of Johannesburg has launched an internal investigation into allegations of water tanker mafia-like incidents where staff members of Johannesburg Water (JW) and employees from some service providers demand payment for water delivered by tankers. [Newsday]
BMW recalls 12,000 vehicles: BMW Group South Africa is recalling 12,491 vehicles, including the 3 Series, Z4, and X3 models, due to risks of short-circuiting and fire. The recall affects models from 2016 onward, following reports of water entering the starter motor, causing corrosion and overheating. [News24]
SARS offers lifeline to taxpayers: Taxpayers with outstanding tax debt will soon have the chance to participate in an expedited compromise process with the South African Revenue Service (SARS). This is for undisputed tax debts where both the taxpayer and SARS acknowledge the debt, but the taxpayer cannot pay it in full. [Moneyweb]
Trouble for one of South Africa’s biggest industries: The EU intends to implement its Carbon Border Adjustment Mechanism (CBAM) from January 2026, and the postponement will continue until at least 2027. The South African steel and aluminium industry remains concerned about the threat posed by CBAM to its medium-term competitiveness, warning of possible further deindustrialisation and job losses. [Engineering News]
Loading ...