{"id":858101,"date":"2026-04-23T07:32:40","date_gmt":"2026-04-23T05:32:40","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=858101"},"modified":"2026-04-23T10:01:10","modified_gmt":"2026-04-23T08:01:10","slug":"ramaphosa-in-hot-water-and-bad-news-for-anyone-with-insurance-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/858101\/ramaphosa-in-hot-water-and-bad-news-for-anyone-with-insurance-in-south-africa\/","title":{"rendered":"Ramaphosa in hot water, and bad news for anyone with insurance in South Africa"},"content":{"rendered":"\n

The rand strengthened on Wednesday, following a slight increase in headline consumer inflation last month and a rise in retail sales, while global uncertainty related to the Middle East conflict kept markets cautious.<\/p>\n\n\n\n

The rand was trading at 16.44 against the dollar, up approximately 0.53% from its previous close. <\/p>\n\n\n\n

According to statistics agency data released on Wednesday, South Africa’s headline consumer inflation in March rose to 3.1% year-on-year, up from 3.0% in February, which was in line with economists’ estimates. <\/p>\n\n\n\n

Analysts indicated that the inflation rate is expected to rise significantly in April, as fuel price hikes triggered by the US-Israeli conflict over Iran will affect consumer prices.<\/p>\n\n\n\n

Additionally, South Africa’s statistics agency reported that retail sales increased by 1.6% year-on-year in February, a decrease from a revised 4.4% increase in January.<\/p>\n\n\n\n

The US dollar remained stable, trading near a one-week high as uncertainty in the Middle East continued, despite US President Donald Trump extending a ceasefire with Iran indefinitely. <\/p>\n\n\n\n

Gold prices saw an increase, buoyed by safe-haven demand following Trump’s announcement, though it remained uncertain whether Iran or US ally Israel would agree to continue the ceasefire.<\/p>\n\n\n\n

On the Johannesburg Stock Exchange, the Top-40 index was down approximately 0.47%. <\/p>\n\n\n\n

Meanwhile, South Africa’s benchmark government bond maturing in 2035 weakened, with its yield rising 8 basis points to 8.52%.<\/p>\n\n\n\n

As of Thursday, 23 April, the rand is trading at R16.52 to the dollar, R22.29 to the pound, and R19.34 to the euro. Gold is currently valued at $4,706.02 per ounce, while oil prices have risen to $103 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

Ramaphosa in hot water:\u00a0<\/strong>President Cyril Ramaphosa has been put in a tough position and must make a critical decision regarding National Police Commissioner Fannie Masemola, who is involved in a criminal case linked to a police scandal. [Daily Maverick<\/a>]<\/p>\n\n\n\n

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Pressure on insurance premiums:<\/strong> Rising fuel prices are increasing insurance costs in South Africa, with industry experts warning that the shock is affecting claims and premium structures. [Business Day<\/a>]<\/p>\n\n\n\n

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No winter load shedding:<\/strong> Power utility Eskom says that South Africa is entering the winter months with a stable power system, with no hint of load shedding or national interruptions on the cards. [BusinessTech<\/a>]<\/p>\n\n\n\n

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Capitec to offer internet<\/strong>:\u00a0<\/strong>Capitec revealed in its annual results on Wednesday that it wants to offer home broadband connectivity through partnerships as one of its strategic initiatives. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Doctors are leaving for Ireland:<\/strong> Many South African doctors are leaving for Ireland because of safety and security, better opportunities, and superior training pathways. [Daily Investor<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in South Africa on Thursday, 23 April.<\/p>\n","protected":false},"author":92,"featured_media":841070,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-858101","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\/858101","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=858101"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/858101\/revisions"}],"predecessor-version":[{"id":858172,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/858101\/revisions\/858172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/841070"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=858101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=858101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=858101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}