{"id":879857,"date":"2026-10-15T07:34:29","date_gmt":"2026-10-15T05:34:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=879857"},"modified":"2026-10-15T07:34:29","modified_gmt":"2026-10-15T05:34:29","slug":"good-news-about-south-africas-10-year-driving-licence-and-capitec-coming-after-people-earning-over-r50000-a-month","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/879857\/good-news-about-south-africas-10-year-driving-licence-and-capitec-coming-after-people-earning-over-r50000-a-month\/","title":{"rendered":"Good news about South Africa’s 10-year driving licence, and Capitec coming after people earning over R50,000 a month"},"content":{"rendered":"\n

The rand weakened on Wednesday following a higher-than-expected US inflation report, which increased expectations that the Federal Reserve may raise interest rates later this month.<\/p>\n\n\n\n

The rand was trading at 16.62 against the dollar, approximately 0.8% weaker than its previous close.<\/p>\n\n\n\n

The dollar index, which measures the value of the dollar against a basket of currencies, rose to 102.87, up 0.7% from Tuesday’s close.<\/p>\n\n\n\n

According to the Labour Department’s Bureau of Labour Statistics, the US Consumer Price Index increased by 0.6% last month, following a 0.4% rise in August.<\/p>\n\n\n\n

Market analysts now see about a 44% chance of a US rate hike this month, up from around 22% before the inflation data was released.<\/p>\n\n\n\n

They are pricing in a 95% probability of an increase in December, based on CME’s FedWatch Tool.<\/p>\n\n\n\n

With no significant domestic data expected, the rand is largely influenced by global developments, particularly US economic indicators and geopolitical events.<\/p>\n\n\n\n

On the Johannesburg Stock Exchange, the Top-40 index was down about 1%. South Africa’s benchmark 2035 government bond strengthened, with yields falling by 2 basis points to 8.74%. [Reuters<\/a>]<\/p>\n\n\n\n

On Thursday, 15 October 2026, the rand was trading at R16.57 to the dollar, R21.94 to the pound, and R18.58 to the euro. Gold is trading at $4,144.68, while oil prices were at $104.40 a barrel.<\/p>\n\n\n\n

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

Good news about South Africa’s 10-year driving licence:\u00a0<\/strong>While South African driving licence cards with a 10-year validity period could be more expensive upfront, their effective annual cost should be lower than that of the current 5-year cards. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Capitec coming after people earning over R50,000 a month:\u00a0<\/strong>Following decades of dominance in the mass market, Capitec\u2019s next phase of growth will see the bank target higher-income clients earning more than R50,000 per month. [Daily Investor<\/a>]<\/p>\n\n\n\n

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ANC wants control over citizenship:\u00a0<\/strong>Corne Mulder of the Freedom Front Plus condemned the ANC’s plan to penalise citizens who criticise South Africa as unconstitutional. ANC MP Supra Mahumapelo suggested that such criticism could be considered treason and proposed legal mechanisms to revoke citizenship for those engaging in such actions. [Newsday<\/a>]<\/p>\n\n\n\n

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Cigarette mafia taking over:<\/strong>\u00a0British American Tobacco (BAT) reports that criminal syndicates in South Africa’s illicit economy operate with impunity, undermining legitimate industries. The Treasury estimates this illicit economy represents around R700bn of GDP. [Business Day<\/a>]<\/p>\n\n\n\n

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R50 billion tax overrun:<\/strong>\u00a0South Africa\u2019s Finance Minister will present the country\u2019s 2026 Medium Term Budget Policy Statement (MTBPS) next week, with some economists expecting a R50 billion tax overrun. [BusinessTech<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in and affecting South Africa on Thursday, 15 October 2026.<\/p>\n","protected":false},"author":92,"featured_media":858234,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2110605359077278101","_sma_facebook_post_id":"191437357620492_2237710627049336","_sma_instagram_post_id":"18106239770526980","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-879857","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\/879857","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=879857"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879857\/revisions"}],"predecessor-version":[{"id":879869,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879857\/revisions\/879869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/858234"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=879857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=879857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=879857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}