{"id":854711,"date":"2026-03-24T07:47:53","date_gmt":"2026-03-24T05:47:53","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=854711"},"modified":"2026-04-02T09:15:46","modified_gmt":"2026-04-02T07:15:46","slug":"another-big-south-african-employer-being-liquidated-and-walmarts-top-man-in-south-africa-quits","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/854711\/another-big-south-african-employer-being-liquidated-and-walmarts-top-man-in-south-africa-quits\/","title":{"rendered":"Another big South African employer being liquidated, and Walmart\u2019s top man in South Africa quits"},"content":{"rendered":"\n

The rand strengthened on Monday after US President Donald Trump backed away from plans to target Iran’s power plants and energy infrastructure, which boosted investors’ appetite for riskier assets.<\/p>\n\n\n\n

The rand traded at 16.82 against the dollar, up 1.1% from its previous close. Trump announced that Washington and Tehran had engaged in constructive talks and that he had decided against targeting Iran’s power network.<\/p>\n\n\n\n

South African gold export, which had fallen 8% earlier, reduced some of those losses, falling 2% after Trump’s announcement.<\/p>\n\n\n\n

Analysts expect continued pressure on the rand after a challenging three weeks, as rising oil prices raise concerns about higher inflation in this net energy-importing country.<\/p>\n\n\n\n

Domestically focused investors will be watching the central bank’s rate decision on Thursday.<\/p>\n\n\n\n

Economists polled by Reuters expect the South African Reserve Bank to maintain its main lending rate at 6.75%.<\/p>\n\n\n\n

The bank’s governor stated earlier this month that they would reassess their risk scenarios for the next policy meeting due to the ongoing Middle East conflict, which is driving oil prices higher.<\/p>\n\n\n\n

Other economic indicators scheduled for release this week include the composite leading business cycle indicator on Tuesday and producer inflation data on Thursday. <\/p>\n\n\n\n

On the Johannesburg Stock Exchange, the Top 40 index was down 0.3%. South Africa’s benchmark 2035 government bond gained strength, with its yield falling 16.5 basis points to 9.035%.<\/p>\n\n\n\n

As of Tuesday, 24 March, the rand is trading at R16.95 to the dollar, R22.70 to the pound, and R19.63 to the euro. Gold is currently valued at $4,336.25 per ounce, while oil prices have risen to $103.90 per barrel.<\/p>\n\n\n\n

5 important things happening in South Africa today<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Major employer heading for liquidation: <\/strong>Ekapa Minerals (Kimberley), which employs more than 1,200 workers in South Africa, is facing pushback after it applied for provisional liquidation and closed the mine with immediate effect at the end of February. [eNCA<\/a>]<\/p>\n\n\n\n

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Walmart\u2019s top man in South Africa quits: <\/strong>US retail giant Walmart quietly underwent a major leadership change in South Africa just as it began ramping up its store rollout in the country. In a post on LinkedIn, Walmart Africa and Massmart chief operating officer Dries D\u2019Hooghe announced he had left the company after eight years. [Daily Investor<\/a>]<\/p>\n\n\n\n

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JSE heading for pain: <\/strong>The Johannesburg Stock Exchange (JSE) is on track for its worst month since the 2008 financial crisis, as the war in Iran stoked inflation fears and drove a sell-off in mining and banking stocks. [Business Day<\/a>]<\/p>\n\n\n\n

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Jobs-for-comrades scheme:<\/strong> Basic Education Minister Siviwe Gwarube has called on the Special Investigating Unit to conduct lifestyle audits in her department after a whistleblower dossier alleged that there was a “jobs-for-comrades” scheme involving officials and ANC politicians. [News24<\/a>]<\/p>\n\n\n\n

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Warning for iPhone users:<\/strong> iPhone owners in South Africa, along with users in emerging markets like Turkiye and Saudi Arabia, are prime targets for a hacking technique using the \u201cDarkSword\u201d kit, designed to steal sensitive information from iPhone users worldwide. [MyBroadband<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in South Africa on Tuesday, 24 March 2026.<\/p>\n","protected":false},"author":92,"featured_media":854718,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-854711","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\/854711","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=854711"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/854711\/revisions"}],"predecessor-version":[{"id":855759,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/854711\/revisions\/855759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/854718"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=854711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=854711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=854711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}