Petrol stations could be shut down in 60 days in South Africa, and Cape Town International Airport is warning
The rand was unchanged in early trade on Friday as investors awaited the domestic budget and trade balance data, while watching a key US trade review and next week’s local government elections.
The rand traded at 16.6175 against the dollar, little changed from its previous close.
On Friday, the South African Revenue Service will release September trade balance figures, with Reuters-polled analysts expecting a surplus of 16.40 billion rand ($987.32 million).
Market participants are also awaiting Monday’s outcome of the annual review of South Africa’s eligibility for African Growth and Opportunity Act (AGOA) benefits in 2027, while local government elections are scheduled for Wednesday.
“USD-ZAR is trading cautiously, with markets reluctant to establish significant positions ahead of Monday’s AGOA deadline and Wednesday’s local government elections,” ETM Analytics said in a note.
South Africa’s benchmark 2035 government bond was slightly firmer in early deals, with the yield falling 2.5 basis points to 8.53%. [Reuters]
On Saturday, 31 October 2026, the rand was trading at R16.72 to the dollar, R22.36 to the pound, and R18.64 to the euro. Gold is trading at $3,875.53, while oil prices are at $113.40 a barrel.
5 important things happening in South Africa today
60-day deadline for petrol stations: South Africa’s Department of Mineral and Petroleum Resources has given petrol station licence holders a 60-day deadline to submit proof of operational status, settle outstanding licence fees, and provide environmental rehabilitation security or risk licence cancellation and criminal prosecution under the Petroleum Products Act. [TopAuto]
Cape Town International Airport warning: In a statement on Friday, the airport said passengers were experiencing longer-than-usual queues at security screening points due to operational staffing constraints linked to the ongoing taxi violence. [eNCA]
Billionaire Patrice Motsepe’s top exec in hot water: The dispute between equal joint-venture partners African Rainbow Minerals and Assore over miner Assmang has escalated, with Assore seeking to declare ARM senior executive Kajal Bissessor a delinquent director after Assmang failed to file its 2025 tax returns on time. [Business Day]
Joburg water infrastructure crisis: Years of municipal mismanagement, underinvestment, and massive leaks have brought Johannesburg’s water infrastructure to the brink of collapse, sparking severe supply outages that disrupt daily life and business while deepening socioeconomic inequality and creating opportunities for criminal syndicates. [Daily Investor]
SARS going after one group of South Africans: The South African Revenue Service (SARS) has published new tax guidance for influencers and content creators, with a recommendation to keep records of taxable income. [MyBroadband]
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