{"id":869578,"date":"2026-08-10T07:35:12","date_gmt":"2026-08-10T05:35:12","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=869578"},"modified":"2026-08-10T07:35:12","modified_gmt":"2026-08-10T05:35:12","slug":"iconic-company-raided-in-south-africa-and-spur-hit-by-r129-5-million-lawsuit","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/869578\/iconic-company-raided-in-south-africa-and-spur-hit-by-r129-5-million-lawsuit\/","title":{"rendered":"Iconic company raided in South Africa, and SPUR hit by R129.5 million lawsuit"},"content":{"rendered":"\n

The rand is recovering, but inflation risks and uncertainty about South Africa’s monetary policy are holding it back.<\/p>\n\n\n\n

Geopolitical tensions, especially involving Iran, could further impact the USD\/ZAR exchange rate. <\/p>\n\n\n\n

The upcoming U.S. Consumer Price Index (CPI) report will be important for deciding the future of the dollar and the rand.<\/p>\n\n\n\n

The USD\/ZAR is falling back towards the R16 level after struggling to stay above R17. A weaker U.S. dollar and rising gold prices are providing some support for the rand. <\/p>\n\n\n\n

However, concerns about inflation and unclear monetary policy in South Africa are limiting confidence.<\/p>\n\n\n\n

The failure of the USD\/ZAR to maintain levels above R17 is a significant development. If it continues to drop, it could lead to a larger correction. <\/p>\n\n\n\n

However, the overall trend will depend on updates from both the U.S. and South African monetary policy.<\/p>\n\n\n\n

The US Bureau of Labour Statistics reported that the US economy lost 23,000 jobs in July, a surprising turn from the anticipated gain of approximately 80,000 to 95,000 jobs predicted by economists.<\/p>\n\n\n\n

Weaker US jobs data typically strengthens emerging market currencies by decreasing the value of the dollar and is also likely to prompt the US Federal Reserve to adopt a more accommodative monetary policy.<\/p>\n\n\n\n

Looking ahead to next week, investors focused on South Africa will pay attention to manufacturing and second-quarter employment figures released on Tuesday, as well as mining data on Thursday, to gauge the health of Africa\u2019s most industrialised economy. <\/p>\n\n\n\n

On Monday, 10 August 2026, the rand was trading at R16.17 to the dollar, R21.81 to the pound, and R18.68 to the euro. Gold is trading at $4,335.18 an ounce, while oil prices were at $84.04 a barrel.<\/p>\n\n\n\n

5 important things happening today<\/h2>\n\n\n\n
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Sasol raided:\u00a0<\/strong>A criminal investigation into Sasol for allegedly polluting the Vaal River took a dramatic turn this week when NPA investigators raided the company’s Secunda operations while executives were testifying before parliament. [Mail & Guardian<\/a>]<\/p>\n\n\n\n

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Spur takes R129.5 million legal blow:<\/strong>\u00a0Spur told its shareholders that it had taken a provision of R129.5 million to cover damages from a lawsuit launched by GPS Food Group in 2019. In a statement on the JSE\u2019s SENS late on Friday, Spur said the company plans to appeal the damages claim in its entirety. [Daily Investor<\/a>]<\/p>\n\n\n\n

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3c of value for every R1 in tax:<\/strong> Efficient Group chief economist Dawie Roodt said that a family earning R1 million per year receives only 2 to 3 cents value back from every R1 they pay in tax. He argued that South Africa\u2019s public servants are overpaid, underworked, and ineffective, and are putting pressure on the economy. [Newsday<\/a>]<\/p>\n\n\n\n

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Gautrain land expropriation plans slammed:\u00a0<\/strong>The expropriation of land, with compensation, to make way for planned new Gautrain stations and rail routes will only negatively impact residents of Gauteng, with little to show for it. This is according to Bobby Ramagwede, CEO of the Automobile Association of South Africa, who said his organisation is vehemently opposed to the rail provider\u2019s planned expansion. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Julius Malema in hot water:<\/strong> Economic Freedom Fighters (EFF) leader Julius Malema is expected to face criminal prosecution for crimen injuria after allegedly labelling a former school principal a child rapist. [EWN<\/a>]<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in and affecting South Africa on August, 10 August.<\/p>\n","protected":false},"author":92,"featured_media":869581,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2086688007197802872","_sma_facebook_post_id":"191437357620492_2171878490299217","_sma_instagram_post_id":"18110520068018306","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-869578","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\/869578","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=869578"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/869578\/revisions"}],"predecessor-version":[{"id":869582,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/869578\/revisions\/869582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/869581"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=869578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=869578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=869578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}