Major South African city holding solar users hostage, and R23 billion given to just 48 people in a single year
The rand remains under pressure, aiming to extend its streak of four consecutive weekly losses, as a stronger dollar and rising domestic fuel prices weigh on market sentiment.
The rand was trading at 16.68 against the dollar, which marked a decline of approximately 0.2% from its previous closing value.
Over the past four weeks, the currency has weakened steadily, with its steepest decline last week due to a stronger dollar and higher US Treasury yields, which reduced the appeal of emerging-market assets.
On Monday, the South African government announced that the regulated petrol price would rise by as much as 12% this week, while the wholesale diesel price would increase by 10%.
These changes reflect higher global energy costs associated with the ongoing conflict in Iran. As Africa’s largest economy, South Africa relies heavily on fuel imports, making it vulnerable to fluctuations in international oil prices.
Data indicated that South Africa’s private sector contracted in September at its fastest rate since December, driven by a drop in new orders and intensified supply and fuel-related cost pressures.
On the Johannesburg Stock Exchange, the Top-40 index was down 0.2%. South Africa’s benchmark 2035 government bond weakened, with its yield rising by 2 basis points to 8.88%. [Reuters]
On Tuesday, 6 October 2026, the rand was trading at R16.65 to the dollar, R22.00 to the pound, and R18.68 to the euro. Gold is trading at $4,121.90, while oil prices were at $100.90 a barrel.
5 important things happening in South Africa today
Tshwane holding solar users hostage: A Pretoria resident has alleged that the City of Tshwane is refusing to disconnect him from the grid, despite following the official process outlined by the metro in previous communications. [MyBroadband]
R23 billion given to just 48 people: Trade Minister Parks Tau revealed that 48 black industrialists benefited from the R23.4 billion disbursed by the Industrial and Development Corporation (IDC) in the past financial year. [Daily Investor]
Official petrol price for October: The Department of Mineral and Petroleum Resources has published the official fuel price adjustments that will take effect on Wednesday, 7 October 2026. Petrol and diesel drivers are in for severe pain from Wednesday, with petrol prices increasing by R3.12 and R3.33 per litre and diesel by R2.84 and R3.24 per litre. [BusinessTech]
Criminal investigation into Sasol: Minister of Forestry, Fisheries and the Environment, David Maynier, provided details about a criminal investigation into petroleum giant Sasol. Sasol allegedly dumped hazardous chemical waste, including vanadium, potassium carbonate, diethanolamine, and heavy metals, into the Klipspruit River catchment. [Newsday]
City Power sends a warning to property owners: City Power has warned property owners with unpaid electricity accounts to settle their accounts before enforcement actions begin, as the utility steps up its efforts against illegal connections and electricity debt in Johannesburg. [Times Live]
Loading ...