Checkers Sixty60 warning, and new SABC tactic to get South Africans to pay for TV licences
The rand remained relatively stable last week, holding its ground even as the dollar strengthened and global risk appetite remained subdued, affecting emerging-market currencies.
The US Dollar Index held firm near 101, close to its highest level since May 2025, supported by a hawkish Federal Reserve that continues to influence market sentiment.
Although the Fed kept interest rates unchanged, it upgraded its inflation projections and signalled the possibility of another rate hike later in 2026, which has bolstered support for the US dollar.
A sharp decline in oil prices, following eased tensions between the US and Iran and diminished supply risks, has alleviated inflation concerns and reduced demand for safe-haven assets.
However, the hawkish policy outlook remains the primary driver for dollar demand. Last week, the rand fluctuated around R16.60 against the dollar, pressured by falling gold and platinum prices coupled with the dollar’s strength.
The decline in oil prices offered some relief in anticipation of the South African Reserve Bank’s meeting in July.
Both gold and platinum, key mineral exports for South Africa, saw their prices decline, with gold poised for a fourth consecutive weekly decline.
South Africa is currently experiencing a rise in attacks on foreign nationals in certain areas of the country.
Anti-immigrant groups have issued a June 30 deadline for undocumented foreigners to leave, creating anxiety among migrant communities.
Looking ahead to next week, domestic investors will focus on several key indicators: money supply and private sector credit data, trade balance and budget balance figures, the purchasing managers’ index, and vehicle sales.
On the Johannesburg Stock Exchange, the Top-40 index recently decreased by 0.6%. South Africa’s benchmark 2035 government bond showed improvement as the yield dropped by 2.5 basis points to 8.185%.
On Monday, 29 June 2026, the rand was trading at R16.47 to the dollar, R21.74 to the pound, and R18.75 to the euro. Gold is trading lower at $4,056.11 an ounce, while oil prices were at $72.50 a barrel.
5 important things happening
Checkers Sixty60 warning: Checkers has informed its clients that its Sixty60 grocery service may be unavailable in their area on Tuesday, 30 June 2026. “Due to a potential service disruption, the Sixty60 grocery service may be unavailable in your area on Tuesday, 30 June,” the company said. [Newsday]
New SABC tactic: The SABC plans to use its streaming service, SABC+, to boost TV licence fee payments through a gamification pilot project. CEO Nomsa Chabeli presented this plan to Parliament on June 26, 2026, to address high evasion rates and consider alternative collection methods involving municipalities and even SARS. [MyBroadband]
South Africans taking down drones face R50,000 fines: Concerns about drones in South Africa are rising, risking privacy law violations and heavy penalties. Interfering with a drone can result in fines up to R50,000 and imprisonment for up to 10 years. [Daily Investor]
South Africa prepared for 30 June shutdown: Drones, helicopters, CCTV, and nearly 9,500 personnel will enhance police efforts to prevent violence before the June 30 shutdown, following the unrest during the July 2021 riots. [TimesLive]
Bafana Bafana heartbreak: Bafana Bafana faced a tough defeat against Canada, losing 1-0 due to a last-minute goal by Stephen Eustáquio. This loss eliminated them from the competition, while Canada advances to the round of 16. [Mail & Guardian]
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