Top South African exec calls for targeted United States sanctions on politicians, and MTN in hot water
The rand remained stable on Tuesday as investors assessed the impact of lower oil prices, higher gold prices, and recent domestic economic data on the health of Africa’s largest economy.
The rand was trading at 16.4050 against the dollar, showing little change from its previous close.
Oil prices declined as investors focused on signs of a recovery in crude exports from the Middle East, amid ongoing concerns about supply disruptions.
The South African Reserve Bank reported that the country experienced foreign direct investment inflows of R49.8 billion ($3.04 billion) in the second quarter of 2026, up from R20.3 billion in the previous quarter.
However, South Africa’s formal-sector employment, excluding agriculture, fell by 0.1% quarter-on-quarter to 10.425 million individuals in the second quarter of 2026, according to the statistics agency.
On the Johannesburg Stock Exchange, the Top-40 index rose by 0.4%. South Africa’s benchmark 2035 government bond strengthened, with yields decreasing by 8 basis points to 8.835%. [Reuters]
On Wednesday, 30 September 2026, the rand was trading at R16.40 to the dollar, R21.69 to the pound, and R18.58 to the euro. Gold is trading at $4,179.43, while oil prices were at $103.02 a barrel.
5 important things happening in South Africa today
Targeted United States sanctions on politicians: Former Sibanye Stillwater CEO Neal Froneman has urged the United States to apply targeted sanctions against specific government officials and individuals. These officials, Froneman argued, continue to promote policies that are unsupported by the majority of South Africans and that damage the local economy. [Daily Investor]
MTN in hot water: MTN has notified shareholders that two of its Anti-Terrorism Act cases in the Eastern District of New York will proceed to discovery. [MyBroadband]
Ramaphosa announces 90-day plan: President Cyril Ramaphosa has announced a four-point plan in response to the spate of killings and violence against women in the country. It includes a ‘safety audit’ in municipalities and a clampdown on liquor outlets and consumption. [BusinessTech]
Woman stole R1 million from her employer: a 30-year-old woman was sentenced to six years and six months’ direct imprisonment for fraud and money laundering. She was an employee of Nashua Kathu, where she changed her employer’s banking details to her personal account number. [Newsday]
US throws lifeline to South Africa’s sugar producers: The United States has increased South Africa’s raw cane sugar quota by 6.3% for the upcoming fiscal year. The increase offers an additional sales opportunity for an industry facing declining domestic sales and earnings pressure. [Business Day]
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