Amazon in hot water, and another state-owned company faces liquidation
The rand weakened against the dollar on Tuesday, impacted by a stronger greenback, rising energy prices, and declining precious metal prices.
This heightened concerns over inflation and an increasing import bill. The rand traded at 16.33 against the dollar, down 0.4% from its previous close.
Oil prices rose nearly 2% on Tuesday due to ongoing concerns about supply disruptions following attacks on Saudi Arabian energy infrastructure, which left the kingdom’s East-West pipeline offline.
This situation has negatively affected the South African currency, as the country is a net oil importer and thus vulnerable to rising crude prices.
Gold, South Africa’s key export, fell by 0.2% to $4,287.69 per ounce on Tuesday, after hitting its lowest level since 7 August, the day before.
However, the main concern remains the impact of high oil prices on the economy. On the Johannesburg Stock Exchange, the Top-40 index was down 0.7% in early trading.
South Africa’s benchmark 2035 government bond also showed a slight decline in early deals, with the yield rising by 6.5 basis points to 8.89%. [Reuters]
On Wednesday, 16 September 2026, the rand was trading at R16.23 to the dollar, R21.89 to the pound, and R18.74 to the euro. Gold is trading at $4,321.65, while oil prices were at $107.9 a barrel.
5 important things happening in South Africa today
Amazon in hot water: Solidarity filed a complaint against Amazon Web Services (AWS) with the Organisation for Economic Co-operation and Development (OECD) in Washington, DC. [Newsday]
PetroSA faces liquidation: PetroSA is facing liquidation from a supplier due to a fuel supply debt, with claims that the state-owned company is commercially insolvent and unable to repay. [Business Day]
USA hits South Africa with visa restrictions: United States Secretary of State Marco Rubio has announced new visa restrictions on South Africans over the country’s black economic empowerment and expropriation laws. [BusinessTech]
Deadly South African company: Air pollution from Sasol’s Secunda operations is estimated to contribute to about 1 000 deaths every year and cost the economy about R19 billion annually, according to a new health impact assessment by the Centre for Research on Energy and Clean Air (Crea). [Mail & Guardian]
South Africa borrows $1 billion: South Africa has secured a $1 billion (approximately R16 billion) loan from the New Development Bank to enhance municipal services infrastructure under the Metro Trading Services Reform Programme. [Engineering News]
Loading ...