Blow to iconic fast food restaurant, and South Africa’s richest woman returning home
The rand remained stable on Tuesday, following the government’s release of its first infrastructure and development finance bonds, and in anticipation of this week’s US Federal Reserve policy meeting.
The rand was trading at 17.06 against the dollar, showing little change from its previous closing level.
The National Treasury reported that the sale of 10-year and 15-year bonds raised R11.795 billion (approximately $693 million).
The government hopes that the projects funded by this sale will drive higher economic growth and improve service delivery.
These bonds are part of a broader plan to allocate over R1 trillion to public infrastructure over the next three years in Africa’s largest economy.
The US dollar remained unchanged against a basket of currencies as investors positioned themselves for an anticipated rate cut by the Federal Reserve in December, while also seeking clues about the central bank’s plans for a slower easing path.
Domestically, traders are watching for retail sales data due on Wednesday, along with mining and manufacturing production figures scheduled for Thursday.
On the Johannesburg Stock Exchange, the Top 40 index was down 0.3% at the last check.
On Wednesday, 10 December, the rand was trading at R17.05 to the dollar, R22.68 to the pound and R19.85 to the euro. Oil was trading slightly lower at $62.34 a barrel.
5 important things happening in South Africa today
Blow to iconic fast food restaurant: The Advertising Regulatory Board has instructed Debonairs Pizza to remove its “Home of Mzansi’s Fave Pizzas” claim after a complaint from rival Roman’s. The board stated Debonairs did not provide independent verification of being South Africa’s favourite pizza, despite being the largest pizza chain in the country. [News24]
South Africa’s richest woman comes home: Sygnia CEO and founder Magda Wierzycka confirmed in her CEO’s report for the 2025 financial year that she is returning to South Africa after spending seven years as a tax resident of the United Kingdom. She noted changes in the UK’s tax system and where she can make a meaningful difference as reasons for returning. [Daily Investor]
Botswana cuts South African produce: Botswana has restricted imports of 16 vegetables from neighbouring countries, including South Africa, to promote local produce. A government notice issued on 8 December banned items like tomatoes, potatoes, cabbage, onions, and more, effective “until further notice.” South Africa exports about $218 million of vegetables annually to global markets. Botswana accounts for roughly $17 million, or 8%, of that total. [Business Day]
Bad news for DStv prices: MultiChoice has no plans to reduce DStv subscription prices, even if it loses 12 channels in stalled negotiations with Warner Bros. Discovery. Additionally, four channels from Paramount will exit at year-end, but this will not affect pricing. “While channels may be added or removed, there is currently no change to DStv subscription pricing,” it said. [MyBroadband]
SIU hits Eskom employee: The Special Investigating Unit (SIU) has secured a preservation order to freeze a luxury property and a vehicle belonging to Eskom employee Johannes Seroke Mfalapitsa and his wife, Ndiyafhi Denge. Granted by Judge M Victor, the order prevents them and others from selling or dealing with these assets amid an investigation into an alleged bribery and corruption scheme that involved about R8 million in payments from companies favoured in a R54 million tender. [Newsday]
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