New tax on licence discs proposed, and top South African retailer under siege
The South African Rand (ZAR) demonstrated resilience against the US Dollar, improving from R16.14/$ on Monday, 31 August, to around R15.99/$ by Thursday, 3 September.
This strength was bolstered by local corporate earnings, including Eskom’s first profitability in years, and favourable global risk sentiment.
However, gains were limited by rising crude oil prices, exceeding $90/barrel, which fueled inflation concerns and expectations of tighter Federal Reserve policy.
On Tuesday, 8 September, Stats SA will release the Q2 2026 GDP figures, with economists at Nedbank predicting a 0.2% quarter-on-quarter contraction, driven by declines in mining and manufacturing.
A disappointing GDP outcome may negatively impact the Rand. Additionally, high global oil prices pose further inflation risks, complicating the South African Reserve Bank’s monetary policy and increasing demand for the US Dollar.
Nedbank noted that for the Rand to sustain support, significant progress in structural reforms is necessary amidst global trade risks.
On Sunday, 6 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
New tax on licence discs proposed: The Department of Transport has not provided any updates on a proposed tax for licence disc renewals intended to support the Road Accident Fund (RAF). Minister Barbara Creecy stated that her department is developing a new funding model for the RAF, which may include a temporary tax as more motorists switch to electric vehicles (EVs). She assured that details will be shared once finalised to ensure the RAF’s sustainability during this transition. [MyBroadband]
Cape Union Mart under siege: Cape Union Mart is facing protests from the Palestine Solidarity Campaign despite a court ruling protecting its owner, Phillip Krawitz, from defamation. While demonstrators are restricted from using signs or slogans linking the company to violence, they still gathered at Canal Walk and the V&A Waterfront. [EWN]
New world map: The United Nations (UN) General Assembly has approved a resolution encouraging the world to move away from the centuries-old Mercator map projection. [BusinessTech]
Five South African cities among the most dangerous in the world: Five of South Africa’s major metros are among the top 10 most dangerous cities globally, according to Numbeo’s 2026 Mid-Year Crime Index. Pretoria ranks first with a score of 81.7, followed by Pietermaritzburg in third (81.5), Johannesburg in fifth (80.8), Durban in sixth (80.5), and Gqeberha in eighth (78.3). [Daily Investor]
End of BEE: Efficient Group chief economist Dawie Roodt said the government’s R100 billion transformation fund could mark the beginning of the end of BEE in South Africa. [Newsday]
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