South Africa’s rand was nearing a three-month low on Thursday (3 April) after being impacted by two significant factors.<\/p>\n\n\n\n
These factors were U.S. President Donald Trump’s announcement of new and increased tariffs and the approval of a contentious budget vote that threatened the ruling coalition’s stability. <\/p>\n\n\n\n
The rand was trading at 18.90 against the dollar, just shy of its previous close. Earlier in the day, it hit a low of 19.02 against the dollar, its weakest point since mid-January. <\/p>\n\n\n\n
Throughout Wednesday, the rand gradually weakened as market fears grew that the Democratic Alliance (DA) might possibly exit the coalition. <\/p>\n\n\n\n
The currency fell sharply after the tariff announcement, dropping as much as 2.6% against the dollar. Meanwhile, the Top-40 index declined by approximately 2.5% on the stock market.<\/p>\n\n\n\n
On Friday (4 April), the rand was trading at R18.78 to the dollar, R24.60 to the pound and R120.83 to the euro. Oil is trading lower at $69.43 a barrel.<\/p>\n\n\n\n
Here are five other news stories making waves in South Africa today:<\/p>\n\n\n\n
DA ministers on the chopping block:<\/strong>\u00a0According to sources within the ANC caucus in Parliament, there was a plan for a special meeting of the NEC to authorise President Cyril Ramaphosa, their representative in government, to take action against DA ministers who did not support the 2025 Budget. News24 reported that these ministers are likely to be dismissed, which would jeopardise the DA’s position in the GNU. [News24<\/a>]<\/p>\n\n\n\n Trouble for households<\/strong>: By not adjusting South Africa’s personal income tax brackets for inflation, the government is decreasing consumers’ purchasing power through higher real taxes. Investec Chief Economist Annabel Bishop noted that household consumption growth, a key driver of the economy, is expected to be lower this year than previously projected. [Daily Investor<\/a>]<\/p>\n\n\n\n End of AGOA:<\/strong> The U.S. government’s implementation of high tariffs on African nations indicates the end of the AGOA trade deal, which aimed to support the development of African economies, including South Africa’s, by providing preferential access to U.S. markets, trade experts stated on Thursday. [CNBC Africa<\/a>]<\/p>\n\n\n\n Changes to licence discs proposed:<\/strong>\u00a0the Automobile Association\u2019s (AA) proposal to enforce roadworthiness tests for licence disc renewals. However, South Africa\u2019s Road Traffic Management Corporation (RTMC) said it can\u2019t comment on the proposal as it hasn\u2019t seen a formal submission, while other experts believe it is fundamentally flawed. [MyBroadband<\/a>]<\/p>\n\n\n\n Blow to doctors in Gauteng:\u00a0<\/strong>The South African Medical Association Trade Union (SAMATU) opposes the Gauteng Health Department’s proposed amendments to reduce doctors’ overtime contracts, arguing that they would cut salaries and change employment contracts without proper consultation and risk patient care at the same time. [EWN<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":" Here are 5 important things happening in South Africa today (4 April 2025).<\/p>\n","protected":false},"author":92,"featured_media":787226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-819608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=819608"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819608\/revisions"}],"predecessor-version":[{"id":819613,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819608\/revisions\/819613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/787226"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=819608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=819608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=819608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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