Sale of South Africa’s largest airline gets green light, and new streaming service launched in South Africa
The South African rand weakened against the dollar on Monday, following losses among emerging market currencies as escalating tensions in the Middle East dampened risk sentiment.
The rand traded at 16.38 per dollar, down approximately 0.5% from its previous close. The US dollar index also gained ground against a basket of currencies as renewed conflict in the Middle East pushed oil prices up by 4%.
US and Iranian forces have exchanged heavy missile and drone strikes, with Tehran targeting US facilities in Gulf states on Sunday and claiming it had once again closed the vital Strait of Hormuz.
Before the conflict that began at the end of February, roughly 20% of the world’s oil and liquefied natural gas transited through that strait.
“The rand appears to be a bystander to what is going on,” said Adam Phillips from Umkhulu Treasury, adding that the currency is likely to weaken beyond the 16.40 per dollar level during the trading session.
South Africa’s benchmark 2035 government bond also weakened in early trades, with the yield rising by 5 basis points to 8.35%.
On Tuesday, 14 July 2026, the rand was trading at R16.45 to the dollar, R21.98 to the pound, and R18.74 to the euro. Gold is trading at $4,019.43 an ounce, while oil prices were at $84.88 a barrel.
5 important things happening today
Sale of South Africa’s largest airline gets the green light: The Competition Commission has recommended that the Competition Tribunal approve Harith Aviation’s acquisition of Safair Holdings, the parent company of FlySafair. [EWN]
New streaming service launched: E-tv and Openview owner, eMedia, has announced the launch of a free ad-supported streaming television (FAST) service, Openview Stream. [MyBroadband]
Fuel supply problem: South Africa has no reliable data on its fuel stock levels, with only a rough estimate of its strategic fuel reserves. To make matters worse, based on available data, South Africa’s strategic oil reserves fall dangerously short of both the country’s policies and international standards. [Daily Investor]
Another product pulled from shelves: The South African Health Products Regulatory Authority (SAHPRA) has issued an urgent recall of compounded GLP-1 medicines. These products include compounded versions of well-known weight-loss and diabetes medications, such as Ozempic, Wegovy, and Mounjaro. [BusinessTech]
Municipal collapse: BLSA CEO Busisiwe Mavuso said that South Africa is on the brink of widespread municipal collapse, with Johannesburg’s financial situation particularly alarming. [Newsday]
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