{"id":863080,"date":"2026-06-09T07:11:24","date_gmt":"2026-06-09T05:11:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=863080"},"modified":"2026-06-09T07:11:24","modified_gmt":"2026-06-09T05:11:24","slug":"public-pensions-invested-in-15-companies-that-lost-100-of-their-money-and-good-news-for-capitec-customers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/863080\/public-pensions-invested-in-15-companies-that-lost-100-of-their-money-and-good-news-for-capitec-customers\/","title":{"rendered":"Public pensions invested in 15 companies that lost 100% of their money, and good news for Capitec customers"},"content":{"rendered":"\n

The rand strengthened on Monday, recovering from earlier losses after Iran’s military announced that its attacks on Israel had concluded, which eased the geopolitical outlook for the currency that is sensitive to such tensions.<\/p>\n\n\n\n

The rand was trading at 16.4650 against the US dollar, an increase of roughly 0.5% from its previous close.<\/p>\n\n\n\n

Iran’s military stated on Monday that its first wave of attacks on Israel since a ceasefire in April was now over.<\/p>\n\n\n\n

However, they warned that the strikes could resume if Israel continued its attacks on Lebanon. Like other risk-sensitive currencies, the rand is often influenced by global factors.<\/p>\n\n\n\n

It has been particularly affected by global market sentiment since the start of the US-Israeli conflict with Iran at the end of February. <\/p>\n\n\n\n

The US dollar weakened against a basket of currencies, and oil prices also declined following Tehran’s statements. <\/p>\n\n\n\n

This week, investors focused on South Africa will be looking at gross domestic product figures on Tuesday and current account, mining, and manufacturing data on Thursday to gauge the health of South Africa\u2019s economy. <\/p>\n\n\n\n

On the Johannesburg Stock Exchange, the Top-40 index was down 0.2%, mainly due to losses in mining stocks.<\/p>\n\n\n\n

On Tuesday, 9 June 2026, the rand was trading at R16.48 to the dollar, R22.01 to the pound, and R19.02 to the euro. Gold is trading lower at $4,328.60 an ounce, while oil prices were at $93.61 a barrel.<\/p>\n\n\n\n

5 important things happening<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

PIC invested in 15 companies that lost 100% of their money:\u00a0<\/strong>The Public Investment Corporation’s Isibaya Fund has been criticised for poor investments, including 15 with a -100% Internal Rate of Return (IRR), raising concerns about its financial performance. [Newsday<\/a>]<\/p>\n\n\n\n

\n\n\n\n

Good news for Capitec customers<\/strong>: Capitec\u2019s share of formal complaints in the banking sector has declined over the past year as the bank has improved its client resolution strategy and clamped down on fraud. [Daily Investor<\/a>]<\/p>\n\n\n\n

\n\n\n\n

Please Call Me\u2019s Makate wants to criminally prosecute former backers<\/strong>: Nkosana Kenneth Makate is seeking a\u00a0nolle prosequi<\/em>\u00a0certificate from the National Prosecuting Authority (NPA) to allow his legal team to privately prosecute his former backers for fraud and forgery. [MyBroadband<\/a>]<\/p>\n\n\n\n

\n\n\n\n

Employers could face imprisonment: <\/strong>President Cyril Ramaphosa stated that illegal immigration hinders the government’s efforts to provide decent work for South Africans. He announced plans to impose stricter penalties on employers who hire illegal migrants, including potential imprisonment for those violating immigration and labour laws. [eNCA<\/a>]<\/p>\n\n\n\n

\n\n\n\n

Millionaires are leaving Gauteng:\u00a0<\/strong>A new report, commissioned by Standard Bank Wealth and Investment,\u00a0showed that South African and international millionaires are increasingly moving to the Western Cape, with Gauteng losing its crown as the nation\u2019s wealth capital. [BusinessTech<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in and affecting South Africa on Tuesday, 9 June 2026.<\/p>\n","protected":false},"author":92,"featured_media":826177,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-863080","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\/863080","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=863080"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863080\/revisions"}],"predecessor-version":[{"id":863084,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863080\/revisions\/863084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/826177"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=863080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=863080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=863080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}