{"id":880462,"date":"2026-10-20T07:23:36","date_gmt":"2026-10-20T05:23:36","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=880462"},"modified":"2026-10-20T07:23:36","modified_gmt":"2026-10-20T05:23:36","slug":"good-news-about-petrol-prices-on-the-cards-and-south-africa-sets-a-world-record","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/880462\/good-news-about-petrol-prices-on-the-cards-and-south-africa-sets-a-world-record\/","title":{"rendered":"Good news about petrol prices on the cards, and South Africa sets a world record"},"content":{"rendered":"\n

The rand appreciated slightly in early trading on Monday as investors looked forward to a significant week of economic data.<\/p>\n\n\n\n

Key highlights include Finance Minister Enoch Godongwana’s medium-term budget policy statement and the September inflation figures.<\/p>\n\n\n\n

The rand was trading at 16.4475, which is an increase of approximately 0.2% from its previous close. <\/p>\n\n\n\n

Investor attention is expected to focus on Wednesday\u2019s medium-term budget policy statement, which may provide new insights into South Africa’s fiscal outlook amid expectations of an improved budget balance and a more favourable sovereign ratings outlook. <\/p>\n\n\n\n

On the same day, Statistics South Africa will release consumer inflation and retail sales data. Economists at Nedbank anticipate that headline inflation will rise to 4.8% in September, up from 4.4% in August.<\/p>\n\n\n\n

They also predict that annual retail sales growth will slow to 2.5% in August, down from 3.4% in July. <\/p>\n\n\n\n

According to Nedbank, the primary driver of inflationary pressure will be higher transport costs, resulting from rising fuel prices and the depreciation of the rand.<\/p>\n\n\n\n

South Africa’s benchmark 2035 government bond remained relatively unchanged in early trading, with the yield increasing by half a basis point to 8.7%. [Reuters<\/a>]<\/p>\n\n\n\n

On Tuesday, 20 October 2026, the rand was trading at R16.40 to the dollar, R21.87 to the pound, and R18.43 to the euro. Gold is trading at $4,142.35, while oil prices were at $109.90 a barrel.<\/p>\n\n\n\n

5 important things happening in South Africa today<\/h2>\n\n\n\n
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Good news about petrol prices on the cards:<\/strong>\u00a0President Cyril Ramaphosa stated that the National Treasury is considering measures to alleviate the cost-of-living burden on South Africans. Potential interventions, possibly including fuel levy options, may be announced in the medium-term budget policy statement on Wednesday, 21 October. [Business Day<\/a>]<\/p>\n\n\n\n

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South Africa sets a world record:<\/strong>\u00a0South Africa\u2019s public rail operator, Transnet Freight Rail, has announced that it has set a new world record for successfully operating a 696-wagon train over 861km in a single trip. [MyBroadband<\/a>]<\/p>\n\n\n\n

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JSE in hot water:\u00a0<\/strong>It has been one year since the Competition Commission referred allegations of exclusionary conduct by the JSE to the Competition Tribunal. Should the Tribunal find the JSE guilty, the company that runs Africa\u2019s largest stock exchange could face a penalty of up to 10% of its South African turnover. [Daily Investor<\/a>]<\/p>\n\n\n\n

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Ban Temu and Shein in South Africa:\u00a0<\/strong>The Congress of South African Trade Unions (COSATU) said it would campaign for a ban on the global online retailers Temu and Shein in the country to protect local jobs. [BusinessTech<\/a>]<\/p>\n\n\n\n

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Almost a quarter of police don’t have driving licences:<\/strong>\u00a0Almost a quarter of provincial police officers working for the South African Police Service (SAPS) do not hold valid driver\u2019s licences. This was revealed by the acting Minister of Police, Firoz Cachalia, in response to a parliamentary question from Member of the National Assembly Christiaan Smit. [Newsday<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in and affecting South Africa on Tuesday, 20 October 2026.<\/p>\n","protected":false},"author":92,"featured_media":855429,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2112414531133554728","_sma_facebook_post_id":"191437357620492_2242967719856960","_sma_instagram_post_id":"18108031481190438","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-880462","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\/880462","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=880462"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/880462\/revisions"}],"predecessor-version":[{"id":880464,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/880462\/revisions\/880464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/855429"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=880462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=880462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=880462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}