Rand holds its nerve as Middle East tensions keep markets on edge
The rand firmed to R16.52 against the dollar even as renewed US-Iran strikes and a closed Strait of Hormuz sent oil prices jumping.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
The big banks' new battleground: SA's mid-sized businesses
Nedbank, Investec, FNB and Standard Bank are pouring resources into winning over medium-sized companies — a once-overlooked segment now delivering returns of up to 30%.
Gold rush: SA posts its biggest current account surplus in over four years
Surging gold exports pushed South Africa's current account surplus to 2.4% of GDP in the first quarter — the largest in more than four years.
Petrol price relief of over R1 per litre on the cards for July
Strong fuel over-recoveries, softer oil after the Iran-Israel ceasefire and a resilient rand point to petrol falling around R1.10 a litre in July — even with the full fuel levy back.
Eskom puts a stake in the ground with new renewables company Eskom Green
Eskom has launched Eskom Green, a utility-scale renewable energy business with 17 priority projects aimed at delivering roughly 6 GW of new capacity at its coal-fired sites by 2030.
Mining cadastre finally gets a deadline — but the clock is tight
Government has set an end-March 2027 target to fully launch South Africa's long-delayed mining rights database, with only one province migrated so far.
SA economy springs a surprise as GDP beats the forecasts
South Africa's economy grew a stronger-than-expected 0.5% in the first quarter, lifting the rand — though the figures predate the oil shock now rippling through the economy.
EV Startup Zimi Charges Up With $2.6m to Grow Battery-Swap Network
South African EV-infrastructure startup Zimi has raised $2.6m to expand its battery-swapping and charging network for commercial fleets.
Absa Shareholders Stage Historic Revolt Over R148m CEO Pay
More than 43% of Absa shareholders voted against the bank's pay report after new CEO Kenny Fihla's R148m package, one of SA banking's biggest remuneration rebukes.
Fitch Hands South Africa Its First Credit Upgrade in 21 Years
Fitch has lifted South Africa's sovereign rating to BB, the first upgrade in nearly 21 years, rewarding years of hard-won fiscal discipline.
Pick n Pay Hits Pause on 22,000-Job Retrenchment After Government Steps In
A six-hour showdown between the retailer, unions and the Labour Minister has bought 22,000 workers time — but the retrenchment threat is far from over.