South Africa hit Canada with its own tariffs, and end date for TV licences in South Africa
The rand remained stable in early trading on Tuesday as investors awaited the medium-term budget presentation and September inflation data.
The rand was trading at 16.4150 against the dollar, showing little change from its previous close.
Today, Finance Minister Enoch Godongwana is scheduled to present the medium-term budget policy statement.
It could provide new insights into South Africa’s fiscal trajectory amid expectations of an improving budget balance and a more favourable outlook for sovereign ratings.
Additionally, Statistics South Africa will release consumer inflation and retail sales data, which will offer a glimpse into price pressures and consumer demand in the economy.
Economists polled by Reuters anticipate that headline inflation will rise to 4.7% in September, up from 4.4% in August, while annual retail sales growth is expected to slow to 3.0% in August, down from 3.4% in July.
South Africa’s benchmark 2035 government bond remained flat in early trading, with the yield at 8.735%. [Reuters]
On Wednesday, 21 October 2026, the rand was trading at R16.40 to the dollar, R21.94 to the pound, and R18.41 to the euro. Gold is trading at $4,114.98, while oil prices were at $110.30 a barrel.
5 important things happening in South Africa today
South Africa hit Canada with its own tariffs: South Africa has introduced a 5% tariff on newsprint imports to safeguard its print industry, primarily affecting Canadian imports, which account for 47.2% of the total. Tariffs remain 0% for the EU, UK, EFTA, SADC, and AfCFTA nations, as well as MERCOSUR countries like Brazil. [Business Day]
End date for TV licences in South Africa: Parliament wants the Department of Communications and Digital Technologies to finalise a sustainable funding framework for the South African Broadcasting Corporation (SABC) within 6 months. [MyBroadband]
Expect the best news for South Africa’s finances in 20 years: Finance Minister Enoch Godongwana is expected to signal the country’s commitment to fiscal discipline on Wednesday, with its debt-to-GDP ratio set to decline for the first time in more than two decades. [Daily Investor]
More name changes for South Africa: The Department of Sports, Arts and Culture has gazetted new names for towns, villages and other geographical features in South Africa, in Gauteng and KwaZulu-Natal. [BusinessTech]
ANC fails its targets set out in 2012: The Minister of Planning, Maropene Ramokgopa, attempted to downplay the government’s failure to meet the National Development Plan’s unemployment targets, which aim for 6% by 2030. Since its 2012 release, these targets have not been met due to destructive policies and corruption. Unemployment instead rose to 33.6% in mid-2026. [Newsday]
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