BEE almost derailed sale of Burger King, and good news for homeowners who want solar
The rand strengthened on Wednesday as investors reviewed month-end domestic economic data that provided insights into the country’s economic health.
The rand was trading at 16.3250 against the US dollar, approximately 0.5% stronger than its previous close.
Data from the South African Reserve Bank showed that private sector credit growth rose to 7.47%, compared to 7.41% previously, surpassing the 6.90% forecast in a Reuters poll.
Traders also analysed the August budget balance, producer inflation, and trade balance figures released by the National Treasury, Statistics South Africa, and the South African Revenue Service, respectively.
According to a Reuters poll, growth in producer prices slowed in August, while the trade surplus widened more than analysts had anticipated.
On the Johannesburg Stock Exchange, the Top-40 index was up about 0.2%. South Africa’s benchmark 2035 government bond also showed strength, with the yield falling by 10.5 basis points to 8.73%. [Reuters]
On Thursday, 1 October 2026, the rand was trading at R16.44 to the dollar, R21.79 to the pound, and R18.61 to the euro. Gold is trading at $4,180.61, while oil prices were at $96.93 a barrel.
5 important things happening in South Africa today
BEE almost derailed the sale of Burger King: The sale of Burger King South Africa faced B-BBEE concerns from the Department of Trade, Industry and Competition. Their commitments of R500 million investment and 1,250 jobs were deemed inadequate, leading to the merger’s prohibition despite no competition issues. The merging parties then appealed to the Competition Tribunal and proposed revised conditions focused on ownership and participation. Burger King agreed to enhance its B-BBEE scorecard by implementing the Enterprise and Supplier Development element. [Daily Investor]
Good news for homeowners who want solar: Eskom has extended its waiver of registration fees for its direct customers with rooftop solar power systems rated up to 50kVA. The power utility announced the extension on the evening of 30 September 2026, the same day the waiver was set to end. [MyBroadband]
Blow for Trump’s tariffs: A panel of three judges at the US Court of International Trade in Manhattan is hearing arguments from small businesses and Democratic-led states challenging Trump’s “Section 301” tariffs as unlawful. This marks the third court intervention regarding the president’s sweeping tariffs on most U.S. imports in under two years. [CNBC Africa]
Big changes for the Gautrain: Gauteng’s Provincial Government has completed the appointment process for a new Gautrain operator for the next 15 years, with several changes planned. [BusinessTech]
Eskom wants to add over R100 to your monthly bill: Eskom has approached NERSA to implement an average 8.8% electricity tariff increase for the 2027/28 financial year starting April 2027. The Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) said this will add at least R112 to monthly electricity bills. [eNCA]
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