{"id":866756,"date":"2026-07-18T08:04:39","date_gmt":"2026-07-18T06:04:39","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=866756"},"modified":"2026-07-18T08:11:56","modified_gmt":"2026-07-18T06:11:56","slug":"new-bee-tax-proposed-in-south-africa-and-big-upgrades-at-the-post-office","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/866756\/new-bee-tax-proposed-in-south-africa-and-big-upgrades-at-the-post-office\/","title":{"rendered":"New BEE tax proposed in South Africa, and big upgrades at the Post Office"},"content":{"rendered":"\n<p>The South African rand weakened on Friday as investors turned their attention to next week&#8217;s inflation data and the monetary policy meeting, where the interest rate decision is expected to be a close call.<\/p>\n\n\n\n<p>The rand traded at 16.57 against the dollar on Friday, roughly \u200bdown 1% from its previous close.<\/p>\n\n\n\n<p>The currency has&nbsp;remained under pressure for most of the week as tensions in the Middle East weighed on risk sentiment, pushing it to \u200bits weakest level this month.<\/p>\n\n\n\n<p>Traders are now focused on June \u200bconsumer inflation data due on Wednesday for fresh clues on the South African Reserve Bank&#8217;s (SARB) plans on interest rates.<\/p>\n\n\n\n<p>Headline inflation&nbsp;rose less than expected&nbsp;\u200bto 4.5% year on year in May, from 4.0% in \u200bApril. Analysts had forecast 4.7% for the May figure.<\/p>\n\n\n\n<p>Johann Els, chief economist \u200cat \u2060PSG Financial Services, expects inflation to edge up to 4.7% in June and for the SARB to leave its main lending rate unchanged at next week&#8217;s meeting.<\/p>\n\n\n\n<p>However, Els said the&nbsp;renewed conflict in the&nbsp;Middle East&nbsp;and the resulting rise in oil prices had complicated the policy outlook, keeping a 25-basis-point increase on the table.<\/p>\n\n\n\n<p>The central \u200bbank&nbsp;raised its \u2060main lending rate for the first time in three years at its previous meeting.<\/p>\n\n\n\n<p>On the Johannesburg Stock Exchange, the Top-40 \u2060index was \u200bdown 1.2%. The yield on South Africa&#8217;s \u200bbenchmark 2035 government bond dropped by 9 basis points to 8.54%.<\/p>\n\n\n\n<p>On Saturday, 18 July 2026, the rand was trading at R16.52 to the dollar, R22.22 to the pound, and R18.90 to the euro. Gold is trading at $4,016.95 an ounce, while oil prices were at $88.10 a barrel. [<a href=\"https:\/\/www.reuters.com\/world\/africa\/south-african-rand-slips-with-inflation-rate-setting-meeting-focus-2026-07-17\/\">Reuters<\/a>]<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening today<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo-1024x576.jpg\" alt=\"\" class=\"wp-image-726802\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/10\/Kuben-Naidoo.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Kuben Naidoo<\/figcaption><\/figure><\/div>\n\n\n<p><strong>BEE surcharge<\/strong>: Kuben Naidoo, a member of the presidential economic advisory council and a former Reserve Bank Deputy Governor, has proposed a voluntary 5% tax surcharge to fund BEE. If a company is assessed to pay R100 in corporate income tax, it would then pay R105, with no other requirements or red tape for companies that pay it. Naidoo estimates that the tax could raise R5 billion. The idea draws from entrepreneur Alan Knott-Craig Jnr&#8217;s views. [<a href=\"https:\/\/www.businessday.co.za\/business-times\/2026-07-18-big-read-ramaphosa-adviser-proposes-voluntary-tax-to-fund-bee\/\">Business Day<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Upgrades at the Post Office<\/strong>: The South African Post Office (SAPO) is rolling out new point-of-sale (POS) devices at 610 of its branches. The system will be available for customers looking to renew their vehicle licence discs. 40 payment devices have been operating in Gauteng since the end of May as part of a pilot. [<a href=\"https:\/\/businesstech.co.za\/news\/government\/866622\/good-news-for-vehicle-licence-renewals-in-south-africa\/\">BusinessTech<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Cape Town wants its own detectives<\/strong>: DA leader Geordin Hill-Lewis has announced plans to create its own metro detective squad. The SAPS currently handles all of the nation&#8217;s detective services, with metro police officers limited to crime prevention, traffic policing, and municipal by-law enforcement. [<a href=\"https:\/\/newsday.co.za\/south-africa\/22220\/cape-town-wants-its-own-detectives\/\">Newsday<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Fines for EV drivers: <\/strong>Rubicon has started warning EV and plug-in hybrid drivers that they will be penalised for plugging in their vehicles without charging at its stations. If a car is not moved 15 minutes of charging is completed, a R250 fine will apply for every 15 minutes plugged in after that period. [<a href=\"https:\/\/mybroadband.co.za\/news\/motoring\/658303-r250-fines-for-electric-car-charger-hoggers-in-south-africa.html\">MyBroadband<\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>New head for H&amp;M South Africa<\/strong>: Ricardo&nbsp;Valente Da Conceicao has been named&nbsp;General&nbsp;Manager&nbsp;for H&amp;M South Africa, effective 1 August 2026. Da Conceicao will be responsible for driving growth and profitability while strengthening the fashion brand\u2019s local relevance. He has 12 years of experience with the group, having worked in the UK, Japan, Chile, Turkey and South Africa. [<a href=\"https:\/\/www.hm.com\/za\/\">H&amp;M]<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are five important things happening in and affecting South Africa on Saturday, 18 July.<\/p>\n","protected":false},"author":10,"featured_media":857648,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2078360416111955996","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[16632],"class_list":["post-866756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-things"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866756","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=866756"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866756\/revisions"}],"predecessor-version":[{"id":866762,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866756\/revisions\/866762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/857648"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=866756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=866756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=866756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}