{"id":863455,"date":"2026-06-12T07:12:04","date_gmt":"2026-06-12T05:12:04","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=863455"},"modified":"2026-06-12T08:16:26","modified_gmt":"2026-06-12T06:16:26","slug":"new-r4-2-billion-bridge-officially-opens-in-south-africa-and-us-plan-to-punish-south-africa-backfires","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/863455\/new-r4-2-billion-bridge-officially-opens-in-south-africa-and-us-plan-to-punish-south-africa-backfires\/","title":{"rendered":"New R4.2 billion bridge officially opens, and US plan to punish South Africa backfires"},"content":{"rendered":"\n<p>The rand strengthened on Thursday as the US dollar fluctuated. Renewed strikes between Iran and the United States, along with rising oil prices, kept overall risk appetite subdued.<\/p>\n\n\n\n<p>The rand traded at 16.52 against the US dollar, up 0.3% from its previous close. The US and Iran exchanged airstrikes for the second consecutive day, with President Donald Trump warning of further strikes if Tehran does not agree to a peace deal immediately.<\/p>\n\n\n\n<p>The dollar weakened against a basket of currencies, while oil prices surged after Tehran announced the closure of the Strait of Hormuz in response to US strikes.<\/p>\n\n\n\n<p>Similar to other risk-sensitive currencies, the rand has been heavily influenced by global market sentiment, especially since the onset of the US-Israeli conflict with Iran.<\/p>\n\n\n\n<p>The South African Reserve Bank released first-quarter current account data, showing a significant increase in the current account surplus driven by a rise in net gold exports.<\/p>\n\n\n\n<p>Investec economist Lara Hodes said in Q2 2026, the trade surplus is anticipated to narrow because of the effects of the war in the Middle East, with higher oil prices\u2014particularly in April and May\u2014affecting the value of imports.<\/p>\n\n\n\n<p>Statistics South Africa published April mining output data, showing that total mining output rose by 8.2%, compared to a 2.5% increase in March.<\/p>\n\n\n\n<p>Additionally, manufacturing production declined by 2.9% year-on-year in April, following a 1.5% increase in March.<\/p>\n\n\n\n<p>On the Johannesburg Stock Exchange, the Top-40 index was up 0.5%. South Africa&#8217;s benchmark 2035 government bond also performed well, with the yield falling by 3.5 basis points to 8.6%.<\/p>\n\n\n\n<p>On Friday, 12 June 2026, the rand was trading at R16.28 to the dollar, R21.84 to the pound, and R18.84 to the euro. Gold is trading lower at $4,190.74 an ounce, while oil prices were at $88.74 a barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump-.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump--1024x576.jpg\" alt=\"\" class=\"wp-image-861334\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump--1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump--300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump--768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump--1536x864.jpg 1536w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2026\/05\/Trump-.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p><strong>New R4.2 billion bridge opens:\u00a0<\/strong>South Africa and Lesotho have opened the Senqu Bridge, reaching an important milestone for Phase II of the Lesotho Highlands Water Project (LHWP). The new bridge cost roughly R4.2 billion to build and involved construction crews from both countries supporting the LHWP. [<a href=\"https:\/\/topauto.co.za\/features\/155705\/new-r4-2-billion-bridge-now-open-photos\/\" target=\"_blank\" rel=\"noreferrer noopener\">TopAuto<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Plan to punish South Africa backfires<\/strong>: The imposition of tariffs on South African exports to the United States has not resulted in a decline in the value of local products sent to the world\u2019s largest consumer market. Instead, the value of South African exports to the United States has risen by 11% in nominal terms since the tariffs came into effect in August 2025, according to data from Codera Analytics. [<a href=\"https:\/\/dailyinvestor.com\/south-africa\/137843\/united-states-plan-to-punish-south-africa-is-backfiring\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Investor<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Best news for South Africa in four years<\/strong>: South Africa posted its largest current-account surplus in four years in the first quarter as the value of gold exports surged and imports dropped. [<a href=\"https:\/\/businesstech.co.za\/news\/finance\/863421\/some-of-the-best-news-for-south-africa-in-four-years\/\" target=\"_blank\" rel=\"noreferrer noopener\">BusinessTech<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>ANC government has 100% failure rate on economic targets: <\/strong>The ANC government has not met any of its economic targets laid out in South Africa\u2019s National Development Plan 2030. In fact, all the indicators, including economic growth, unemployment, and fixed capital formation, are now far worse than when the plan was unveiled.<strong>\u00a0<\/strong>[<a href=\"https:\/\/newsday.co.za\/business\/19218\/anc-government-has-100-failure-rate-on-economic-targets\/\" target=\"_blank\" rel=\"noreferrer noopener\">Newsday<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Post Office wants to terminate its business rescue:\u00a0<\/strong>The South African Post Office\u2019s (SAPO\u2019s) business rescue practitioners (BRPs) have revealed plans to finalise the entity\u2019s Termination Application to exit business rescue in June 2026. [<a href=\"https:\/\/mybroadband.co.za\/news\/government\/653219-post-office-wants-to-terminate-its-business-rescue.html\" target=\"_blank\" rel=\"noreferrer noopener\">MyBroadband<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are five important things happening in and affecting South Africa on Friday, 12 June 2026.<\/p>\n","protected":false},"author":92,"featured_media":863456,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-863455","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\/863455","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=863455"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863455\/revisions"}],"predecessor-version":[{"id":863462,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863455\/revisions\/863462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/863456"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=863455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=863455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=863455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}