US sends final warning to South Africa, and collapsing state company spends R4 million on awards party
The rand remained relatively stable on Wednesday following the release of slightly better-than-expected inflation data.
Traders are anticipating the central bank’s interest rate decision, which is scheduled for Thursday, 20 November.
The rand was trading at 17.16 against the dollar, showing little change from its previous close. Data from the statistics agency indicated that South African inflation rose in October, but by less than anticipated.
This has led analysts to believe that the interest rate decision by the central bank may be a close call.
Headline consumer inflation increased to 3.6% year-on-year, while economists surveyed by Reuters had forecast a rate of 3.7%.
Some economists noted that the slight uptick in October’s Consumer Price Index technically provides the South African Reserve Bank with the flexibility to cut rates by 25 basis points tomorrow.
Others, however, expressed caution, suggesting that the Monetary Policy Committee is likely to proceed carefully due to ongoing inflation risks.
Additionally, Statistics South Africa released retail sales data, which showed a year-on-year increase of 3.1% in September. On the Johannesburg Stock Exchange, the Top 40 index was last up by 1.2%.
On Thursday, 20 November, the rand was trading at R17.18 to the dollar, R22.57 to the pound and R19.90 to the euro. Oil was trading slightly lower at $64.68 a barrel.
5 important things happening in South Africa today
US sends final warning to South Africa: The US has warned Pretoria against issuing a G20 declaration without its involvement at the upcoming leaders’ summit, attempting to undermine South Africa’s presidency. Ongoing negotiations among G20 members aim to reach a consensus on a declaration. The US has reportedly pressured allies to refrain from agreeing to any declaration, stating it will oppose any decision made in its absence. [Business Day]
RAF spends R4 million on staff awards party: The Road Accident Fund (RAF) spent nearly R4 million on its 2025 awards evening, featuring a performance by Mi Casa and award trophies, despite having over 255,000 outstanding claims from accident victims. The RAF’s liabilities reached R370 billion last year and are projected to rise to almost R423 billion by 2027, making it a “significant fiscal risk.” [News24]
Electricity price increases coming: The National Energy Regulator of South Africa (Nersa) has called all licensed municipalities and private electricity providers to submit their tariff applications for 2026 by 12 December 2025, along with cost-of-supply studies. Non-compliance will prevent municipalities from implementing tariff adjustments in the 2026/27 financial year. [MyBroadband]
Inflation ticks up: Annual consumer inflation edged higher to 3.6% in October, up from 3.4% in September, in line with market expectations. This is the highest inflation print since September 2024, when the rate was 3.8%. The consumer price index (CPI) increased by 0.1% month-on-month in October 2025. [BusinessTech]
Relief for residents in South Africa’s capital: The City of Tshwane faced another setback in court when the suspension of a previous order, which deemed its controversial cleaning levy unlawful, was lifted while it appeals the decision. As a result, Tshwane can no longer charge residents the R194-per-month cleaning levy and must refund residents who have already paid it. [Moneyweb]
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