{"id":867315,"date":"2026-07-24T07:22:18","date_gmt":"2026-07-24T05:22:18","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=867315"},"modified":"2026-07-24T07:22:18","modified_gmt":"2026-07-24T05:22:18","slug":"a-single-accounting-mistake-will-cost-south-africa-r9-6-billion-and-webuycars-in-hot-water","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/867315\/a-single-accounting-mistake-will-cost-south-africa-r9-6-billion-and-webuycars-in-hot-water\/","title":{"rendered":"A single accounting mistake will cost South Africa R9.6 billion, and WeBuyCars in hot water"},"content":{"rendered":"\n

The rand’s value dropped on Thursday, following the Monetary Policy Committee\u2019s decision to hold interest rates.<\/p>\n\n\n\n

Rand traded at 16.71 to the dollar, coming close to its weakest value in the last two months and 1.9% weaker than its previous close.<\/p>\n\n\n\n

The Reserve Bank\u2019s decision to hold interest rates came as a surprise, with most economists expecting it to be increased by 25 basis points.<\/p>\n\n\n\n

This was due to inflation in June reaching 5%, exceeding the government’s target of 3%.<\/p>\n\n\n\n

South African Reserve Bank governor Lesetja Kganyago said his committee reached the decision as policy was already restrictive enough.<\/p>\n\n\n\n

He also cited the revised inflation forecasts for South Africa, which have gone from 4.4% to 4.0% for the year.<\/p>\n\n\n\n

The Johannesburg Stock Exchange benefited from the decision, with the all-share index down 0.8% at close, having been down 1.8% before the announcement.<\/p>\n\n\n\n

On Friday, 24 July 2026, the rand was trading at R16.82 to the dollar, R22.39 to the pound, and R19.14 to the euro. Gold is trading at $4,026.3 per ounce, while oil prices are at $100.3 per barrel<\/p>\n\n\n\n

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

A single accounting error will cost South Africa R9.6 billion and 45,000 jobs:<\/strong> The National Energy Regulator of South Africa\u2019s approval of a R54 billion Eskom tariff adjustment will make South Africans R9.6 billion poorer over the next two years. [DailyInvestor<\/a>]<\/p>\n\n\n\n

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Reserve Bank holds interest rates in South Africa:<\/strong> The South African Reserve Bank\u2019s Monetary Policy Committee has voted to hold interest rates in South Africa. [BusinessTech<\/a>]<\/p>\n\n\n\n

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WeBuyCars in hot water over \u201canti-Afrikaner\u201d advert:<\/strong> WeBuyCars is facing backlash over its new advert, which jokes about the Afrikaner refugee programme introduced in the United States. [TopAuto<\/a>]<\/p>\n\n\n\n

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Almost no one has passed South Africa\u2019s new learner\u2019s licence test:<\/strong> Only 17% of hopeful learner drivers in the Western Cape have passed the new computerised learner\u2019s licence test that was introduced in May 2025. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Deputy Finance Minister resigns as Public Investment Corporation chair: <\/strong>South Africa\u2019s Deputy Finance Minister has resigned as the chair of the board of directors of the Public Investment Corporation. [Newsday<\/a>]<\/p>\n\n\n\n

\n","protected":false},"excerpt":{"rendered":"

Here are 5 important things happening in and affecting South Africa on Friday, 24 July 2026.<\/p>\n","protected":false},"author":131,"featured_media":841786,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2080524143179526328","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-867315","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\/867315","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\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=867315"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/867315\/revisions"}],"predecessor-version":[{"id":867323,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/867315\/revisions\/867323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/841786"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=867315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=867315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=867315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}