Government coming after homeowners in small town, and man behind rising electricity prices received a R13.52 million at Eskom
The South African rand was stable in early trading on Friday as attention shifted to the highly anticipated US jobs data for insights into the Federal Reserve’s next interest rate decision.
The rand was trading at 15.9975 against the dollar, showing little change from its previous close.
The US nonfarm payrolls report is set to be released at 12:30 GMT, and the unemployment rate is expected to remain steady at 4.1%.
Like other emerging market currencies, the rand often follows global trends influenced by US economic data and geopolitical developments.
ETM Analytics noted that if employment growth falls short of expectations, it would support the argument for the Federal Reserve to maintain interest rates at current levels.
It added that it would also reduce speculation about a rate hike in September, and likely strengthen the South African rand against the dollar.
South Africa’s benchmark 2035 government bond was slightly firmer in early trading, with the yield decreasing by 1.5 basis points to 8.565%. [Reuters]
On Saturday, 5 September 2026, the rand was trading at R15.99 to the dollar, R21.58 to the pound, and R18.57 to the euro. Gold is trading at $4,430.03, while oil prices were at $96.28 a barrel.
5 important things happening today
Municipality goes after homeowners disconnected from the grid: Thaba Chweu, located in Mpumalanga with Lydenburg as its seat, has 19,294 customers, 53.63% of whom are residential. Nersa’s recent decision approved a R582.64 levy on “networks that are available but not connected” as part of the municipality’s 2026 electricity tariff application. [BusinessTech]
Man behind rising electricity prices received a R13.52 million at Eskom: Calib Cassim, Eskom’s CFO, earned a remuneration package of R13.52 million in the 2026 financial year, surpassing that of CEO Dan Marokane. A veteran at the utility, Cassim signed Eskom’s electricity tariff applications to NERSA. [MyBroadband]
Woolworths approved to buy one of its major suppliers: Woolworths has received the green light from South Africa’s Competition Commission to acquire In2food, one of the retailer’s key suppliers. [DailyInvestor]
A company borrowed R333 million from the PIC, did not pay it back, and then received R432 million: The Public Investment Corporation (PIC) is under scrutiny for its R432 million payment to Acapulco, which failed to repay a previous R333 million loan. [Newsday]
Car prices warning in South Africa: Ford Africa’s president, Neale Hill, supports improved vehicle safety regulations in South Africa. However, he stressed that the new laws may raise prices on new cars, pushing consumers further to cars from China. [Business Day]
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