Small farms now being targeted in South Africa, and top company to be investigated by United States
The South African rand strengthened on Thursday, buoyed by a weaker dollar and rising gold prices.
Investors are closely watching an upcoming US jobs report for insights into the Federal Reserve’s next policy decisions.
The rand was trading at 16.0075 against the dollar, approximately 0.3% stronger than its previous close.
South Africa’s benchmark 2035 government bond also gained ground, following the upward trend in gold prices, as the country is one of the world’s major exporters of the precious metal.
On the Johannesburg Stock Exchange, the Top-40 index was up 1.4%, with Impala Platinum and MTN Group among the top gainers of the day.
The US dollar index fell 0.6% against a basket of currencies, easing pressure on emerging-market currencies.
Investors are now anticipating the non-farm payrolls report scheduled for Friday, following the ADP employment report released on Wednesday, which indicated a moderate increase in US private payrolls for August.
Like other risk-sensitive currencies, the rand tends to react to global factors, such as US economic indicators, in addition to domestic economic data.
A business survey released on Thursday showed that South African private-sector activity expanded slightly in August, supported by higher new orders, leading to increased output and purchasing activity.[Reuters]
On Thursday, 3 September 2026, the rand was trading at R15.98 to the dollar, R21.62 to the pound, and R18.58 to the euro. Gold is trading at $4,474.18, while oil prices were at $95.73 a barrel.
5 important things happening today
Small farms targeted: Criminal syndicates are targeting small farms for rent in South Africa to set up crystal meth labs. This comes after a recent raid on a farm 200 kilometres north of Johannesburg. The latest operation is the third suspected crystal meth laboratory police have uncovered in less than four months. [EWN]
Amazon in South Africa under investigation: Amazon Web Services’ (AWS) Equity Equivalent Investment Program, which only accepts 100% black-owned businesses, has come under fire. The Freedom Front Plus (VF Plus) is the latest party which promised action against Amazon, promising to bring it to the attention of American authorities. [Newsday]
Eskom spent R233.4 billion to build a power station still unfinished 18 years later: In 2008, Eskom began building Kusile Power Station, which was scheduled for completion by 2017 at a cost of R121 billion. 18 years and R233.4 billion later, the utility now expects Kusile to be completed in the 2028 financial year. [DailyInvestor]
Eskom’s message to South Africans who don’t want electricity prices to increase: Eskom chairman Mteto Nyati said he agreed that double-digit increases in electricity prices are unaffordable for South Africans. In the utility’s financial report for the year ended 31 March 2026, Nyati said that Eskom was committed to applying only single-digit increases in electricity prices from now on. [MyBroadband]
Ramaphosa’s promise to car companies: Following VW’s recent R4 billion upgrade at its Kariega plant in the Eastern Cape, President Cyril Ramaphosa has encouraged other car manufacturers to invest in South Africa and follow suit. “Government is working to ensure that there is a stable, predictable and supportive policy environment in which automotive companies can invest, localise and grow.” [TopAuto]
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