Trouble for iconic shopping mall in South Africa, and DA leader’s crypto company under investigation
The rand was steady this week as investors await new inflation data for clues on how South Africa’s economy is performing. The rand was trading at 16.20 on Monday, unchanged from its previous close.
Stats SA is set to release the July inflation data on Wednesday, with Reuters-poll analysts anticipating a 4.5% reading.
In June, South Africa’s inflation reached 5%, up from 4.5% in May, primarily due to high transport costs.
Nedbank economists had forecast a reduction to 4.3%, due to lower transport costs as fuel prices have declined.
The dollar edged lower against several currencies on Monday, while gold prices rose in response to the weaker U.S. currency.
South Africa’s benchmark 2035 government bond was weaker, with yields rising 4.5 basis points to 8.475%.
On Tuesday, 18 August 2026, the rand was trading at R16.26 to the dollar, R22.00 to the pound, and R18.81 to the euro. Gold is trading at $4,391.55 an ounce, while oil prices were at $91.40 a barrel. [Reuters]
5 important things
DA leader’s crypto company accused of breaking the law: The Johannesburg High Court dismissed an appeal by Kastelo, a fintech and cryptocurrency arbitrage trading provider, seeking to unfreeze its bank accounts while the Reserve Bank investigates it. [MyBroadband]
Iconic shopping mall in South Africa’s capital city that is shrinking and losing stores: Brooklyn Mall in Pretoria has seen its gross lettable area expand over the past decade, except in 2025, while its vacancy rate has worsened from 5% in 2020 to 16.8% in 2025. [DailyInvestor]
Matlala exercises his right to remain silent in Medicare24 tender saga: Alleged tender fraud involvee ‘”Cat” Matlala opted not to answer several questions before the Madlanga commission, saying he did not want to incriminate himself. [ENCA]
‘Smaller’ tech mergers in Competition Commission’s crosshairs: The Competition Commission has warned that it will be closely scrutinising smaller mergers going forward, due to concerns of anti-competitive behaviour. [BusinessDay]
Petrol price slate levy changes for South Africa are coming: The Department of Mineral and Petroleum Resources has gazetted a proposed change to South Africa’s slate levy procedures, which will allow importers to keep part of the tax when global prices fluctuate. [BusinessTech]
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