<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg" alt="" class="wp-image-536645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 24 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand gained against the U.S. dollar early on Thursday, as the greenback eased from a three-month high.



At 0756 GMT, the rand traded at 17.70 against the dollar, about 0.5% stronger than its previous close.



The dollar index was last down 0.22% against a basket of major currencies, pausing a recent rally fuelled by bets on a slower pace of interest rate cuts by the Federal Reserve and a potential second presidency for Donald Trump.



With no major domestic economic data releases due in South Africa for the rest of the week, the risk-sensitive rand is set to take cues from the direction of the dollar.



On the stock market, the Top-40 index was up 0.7%.



South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 12 basis points at 9.39%.



(Reporting by Bhargav Acharya; Editing by Kirsten Donovan)

New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg

South African rand firms as dollar slips

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="537" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-820x537.jpg" alt="" class="wp-image-536666" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-820x537.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-768x503.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-1536x1005.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AJ75STV5GFI2VAY6ECK3RA5YKM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration taken September 9, 2015. REUTERS/Mike Hutchings</figcaption></figure>



JOHANNESBURG, Oct 23 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trade on Wednesday, before the release of local consumer inflation figures that will be the main focal point for the day&#8217;s trading.



At 0535 GMT, the rand traded at 17.5425 against the U.S. dollar, down less than 0.1% on Tuesday&#8217;s closing level.



Statistics South Africa will release September Consumer Price Index (CPI) data around 0800 GMT.



Economists polled by Reuters predict that annual inflation fell to 3.9% last month, well below the 4.5% level the central bank aims for.



A further drop in inflation, from 4.4% in August, could encourage the South African Reserve Bank to deliver another interest rate cut at November&#8217;s monetary policy meeting, after its first cut in more than four years last month.



South Africa&#8217;s benchmark 2030 government bond was marginally stronger in early deals, with the yield down 2 basis points to 9.325%.



(Reporting by Alexander Winning; Editing by Savio D&#8217;Souza)

South African Rand coins are seen in this photo illustration

South African rand little changed; CPI data in focus

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 23 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



September consumer inflation data



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



Famous Brands interim results



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



The South African rand was stronger on Tuesday, buoyed by global precious metals prices and its appeal for carry trades.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Gold prices jumped to record high and the dollar was on the rise again on Wednesday, while stocks in Asia stuttered as investors were reluctant to place major bets ahead of a hotly contested U.S. election.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



U.S. stocks ended little changed on Tuesday, but the Nasdaq eked out a modest gain while investors kept an eye on Treasuries yields and awaited more earnings to assess the health of American companies.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices surged to a record high on Wednesday, as conflicts in the Middle East and uncertainty surrounding the upcoming U.S. election spurred demand for safe-haven assets. 



(Compiled by Alexander Winning)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Oct 23

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-820x547.jpg" alt="" class="wp-image-545436" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled-1.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A street vendor balances a box on her head as she makes a sale at Markets of Warwick in the Durban CBD, Durban, South Africa May 31, 2024. REUTERS/Alaister Russell/File photo</figcaption></figure>



JOHANNESBURG, Oct 23 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s inflation dropped sharply in September, hitting its lowest level in more than three years and bolstering expectations for another interest rate cut by the central bank next month.



Annual consumer price inflation slowed to 3.8% from 4.4% in August, Statistics South Africa data showed.



Economists polled by Reuters had forecast inflation would&nbsp;drop to&nbsp;3.9%, well below 4.5% &#8211; the mid-point of the South African Reserve Bank&#8217;s 3%-6% target range.



The Consumer Price Index (CPI) rose 0.1% month-on-month in September, the same as a month before.



&#8220;Inflation is well under control in South Africa, this is really the start of a period of about 6 months in which the headline CPI should be below 4%,&#8221; said independent economist Elize Kruger.



The central bank struck a measured tone at its September meeting when it trimmed its main interest rate by 25 basis points to 8%, saying there were still risks on the horizon.



Analysts expect the bank to continue easing policy in quarter point increments, taking the repo rate to 7% by the middle of next year.



&#8220;Larger 50 bps moves are unlikely, in our view,&#8221; Standard Chartered&#8217;s Razia Khan said in a research note. &#8220;We think the SARB will want to proceed cautiously, monitoring global risks and any consumption boost from South Africa&#8217;s recent Two Pot Pension Reforms, which allow earlier pension withdrawals,&#8221; she said.



(Reporting by Bhargav Acharya, Kopano Gumbi and Tannur Anders; Editing by Alexander Winning and Tomasz Janowski)

5TLM4VGHGFLZVJKGLDZIGS2JC4-scaled

South African inflation drops sharply, paving way for more rate cuts

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-820x547.jpg" alt="" class="wp-image-545184" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/VVH4XUJLWRL2RHXOYP5AZXEKAM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Russian President Vladimir Putin meets with South African President Cyril Ramaphosa on the sidelines of the BRICS summit in Kazan, Russia October 22, 2024. Alexander Nemenov/Pool via REUTERS</figcaption></figure>



JOHANNESBURG, Oct 22 (Reuters)&nbsp;&#8211;&nbsp;South Africa sees Russia as a valued ally, President Cyril Ramaphosa said at a bilateral meeting with Russia&#8217;s Vladimir Putin on Tuesday, on the eve of the BRICS summit of emerging economies&nbsp;that will take place in the Russian city of Kazan.



&#8220;We continue to see Russia as a valued ally, as a valued friend who supported us right from the beginning, from the days of our struggle against apartheid,&#8221; Ramaphosa said, according to a clip of the two leaders&#8217; meeting shared on social media by South Africa&#8217;s government news agency.



&#8220;We are going to have important discussions here in Kazan within the BRICS family,&#8221; the South African president added.



(Reporting by Tannur Anders and Bhargav Acharya; Editing by Alexander Winning)

Russian President Vladimir Putin meets with South African President Cyril Ramaphosa in Kazan

South Africa sees Russia as a valued ally, Ramaphosa tells Putin

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="570" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-820x570.jpg" alt="" class="wp-image-544813" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-820x570.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-300x209.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-768x534.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1536x1068.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/P6ORFY5TKVJHVLDLKUU7XJIJNQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: South Africa&#8217;s Finance Minister Enoch Godongwana speaks during his 2024 budget speech in Cape Town, South Africa, February 21, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



JOHANNESBURG, Oct 21 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s mid-term budget review later this month is expected to show healthier public finances, but economists say it might be too early to loosen the purse strings.



Finance minister Enoch Godongwana is expected to present his first medium-term budget policy statement under South Africa&#8217;s new unity government on Oct. 30, setting out spending plans for the next three years.



Economists see potential for an improved budget outlook due to anticipated reductions in government expenditure and lower interest payments on debt, buoyed by currency appreciation.



Sentiment has been boosted by the government&#8217;s early success in fostering political stability as well as the end of crippling power cuts.



South Africa&#8217;s budget deficit for the 2024/25 fiscal year stood at 3.3% of GDP as of August, according to National Treasury data, lower than the same period last year. In February, the treasury forecast a deficit of 4.5% of GDP for the year.



Andrew Matheny, Managing Director of Economics Research at Goldman Sachs, said that the treasury was likely to meet that target.



&#8220;We don&#8217;t see much of a risk of overspending and exceeding the spending plans that they laid out on the revenue side,&#8221; said Matheny.



Although revenue collection has undershot the target so far, a decrease in expenditure coupled with the transfer of the first tranche of funds from the gold and foreign exchange account has reduced borrowing requirements, economists said.



Despite the wiggle room, there is no expectation the treasury will introduce any new spending initiatives outside of providing funding guidance on the government&#8217;s infrastructure investment programme and any above-inflation public sector wage increases for 2025.



President Cyril Ramaphosa pledged in July to revive the economy by turning the country &#8220;into a construction site&#8221;.



&#8220;The focus will probably be on job creation, things like the infrastructure development program, really pushing money into things that can get the economy going,&#8221; said Maarten Ackerman, chief economist at local financial firm, Citadel,



South Africa&#8217;s GDP growth is seen at 1.1% this year, according to the central bank. The bank believes growth could accelerate to 3.5% in the medium term with appropriate reforms.



(Reporting by Kopano Gumbi; Editing by Olivia Kumwenda-Mtambo and Christina Fincher)

South Africa’s Finance Minister Godongwana presents 2024 budget in Cape Town

South Africa’s budget to show healthier finances but discipline still needed, economists say

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 21 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



Foreigners&#8217; trading in South African bonds and equities



South African Treasury bill auction



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand firmed against a weaker dollar on Friday, ahead of a domestic inflation reading next week which could provide clues on the central bank&#8217;s rate-cutting path.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about 0.5% higher.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asia shares dipped in and out of positive territory on Monday, under pressure from weakness in Hong Kong stocks, but bitcoin scaled a three-month peak as &#8220;Trump trades&#8221; continued to ramp up.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The Dow Jones Industrial Average and S&amp;P 500 chalked up record closing highs on Friday, with the Nasdaq also in positive territory, as markets were boosted by an earnings-driven jump in Netflix shares and broader gains across technology stocks.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold rose to a fresh high on Monday, extending its blazing rally amid uncertainties surrounding the U.S. election, simmering Middle East tensions and rate cuts by major central banks, while silver scaled a near 12-year peak.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Economists warn Eskom tariffs should be a red flag



&#8211; Budget cuts leave health department unable to fill critical posts



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; Standard Bank hunts for SA sales as it leverages Liberty&#8217;s impressive data, 2 000 advisors



&#8211; SA competition watchdog says &#8216;all tools&#8217; should be considered to deal with Temu, Shein



(Compiled by Bhargav Acharya)

South African Markets – Factors to watch on Oct 21

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="535" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-820x535.jpg" alt="" class="wp-image-543676" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-820x535.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-768x501.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-1536x1002.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/KML3HCF5HJLBBDJ6K7HOADXYCI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A general view of the city of Pretoria November 24, 2009. Pretoria is one of the nine South African cities hosting the FIFA 2010 Soccer World Cup. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Oct 18 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s government said on Friday that it had asked Taiwan to relocate its de facto embassy out of the capital Pretoria, while Taiwan accused it of bowing to pressure from China.



South Africa rejected this characterization and said the move was standard diplomatic practice, given that it severed political and diplomatic ties with Taiwan in 1997.



The Taipei Liaison Office in Pretoria will be rebranded as a Trade Office and moved to commercial capital Johannesburg, said South Africa&#8217;s Department of International Relations and Cooperation.



&#8220;Relocating what will be rebranded as Trade Offices both in Taipei and in Johannesburg&#8230; will be a true reflection of the non-political and non-diplomatic nature of the relationship between the Republic of South Africa and Taiwan,&#8221; it said in a statement, adding it had given the office six months to move.



China is South Africa&#8217;s largest trading partner globally and one with which it is looking to expand cooperation in areas such as renewable energy.



Taiwan&#8217;s Foreign Ministry said that warming relations between South Africa and China were posing a challenge for its own friendly relationship with South Africa.



&#8220;If the South African government still insists on submitting to China and changing the status quo&#8230; the Ministry of Foreign Affairs will&#8230; study and formulate all possible responses in order to safeguard the sovereignty and dignity of our country,&#8221; it said in a statement.



Taiwan, which China claims as its own territory with no right to state-to-state relations, has formal ties with only a dozen countries, almost all small, less developed nations.



Taiwan&#8217;s government rejects China&#8217;s sovereignty claims and says Beijing has no right to represent or speak for the island on the international stage



China welcomed the move.



&#8220;We appreciate South Africa&#8217;s correct decision to relocate the Taipei Liaison Office in South Africa out of Pretoria, the administrative capital,&#8221; said China&#8217;s Foreign ministry spokeswoman Mao Ning.



(Reporting by Nellie Peyton; Additional reporting by Joe Cash in Beijing and Ben Blanchard in Taipei; Editing by Olivia Kumwenda-Mtambo, William Maclean)

FILE PHOTO: A general view of the city of Pretoria

South Africa asks Taiwan to move its de facto embassy from Pretoria

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="507" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg" alt="" class="wp-image-533970" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-768x475.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-1536x950.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Oct 18 (Reuters) &#8211; South Africa&#8217;s rand firmed in early trade on Friday, paring some losses from Thursday, ahead of a domestic inflation reading next week which could provide clues on the central bank&#8217;s rate cutting path.



At 0630 GMT, the rand traded at 17.60 against the dollar, about 0.4% stronger than its previous close.



The dollar last traded about 0.2% softer against a basket of currencies.



&#8220;Yesterday’s blow-out raises the possibility that the phase of ZAR weakness has now completed, and that the local unit could make a stronger recovery as we close out the week,&#8221; ETM Analytics wrote in a research note.



Next week, domestic investors will look to September&#8217;s consumer inflation figures which could provide clues on the South African Reserve Bank&#8217;s interest rate path.



The central bank cut its main lending rate for the first time in more than four years in September, a day after data showed headline inflation fell just below 4.5%, the middle of the central bank&#8217;s target range.



On Thursday, South Africa&#8217;s central bank governor Lesetja Kganyago said the country could move to a lower inflation target at little cost.



&#8220;One of the requirements for a stable currency is low inflation; therefore, any talk of lowering the inflation target should be mildly supportive of the ZAR,&#8221; ETM Analytics wrote.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals.



(Reporting by Tannur Anders; Editing by Hugh Lawson)

Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg

South African rand firms, inflation print next week

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="582" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-820x582.jpg" alt="" class="wp-image-543602" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-820x582.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-300x213.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-127x90.jpg 127w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-768x545.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-1536x1091.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LQD5WORV4BLVHCY3KRQMJIJ75A-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker holds a parcel next to a logo of South Africa&#8217;s last mile delivery and click and collect company Pargo, at a store in Sandton, South Africa, October 17, 2024. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 18 (Reuters)&nbsp;&#8211;&nbsp;South African click-and-collect company Pargo is exploring an expansion into the rest of Africa, its CEO said in an interview, betting on e-commerce growth on the continent.



Africa is forecast to surpass half a billion e-commerce users by 2025, having shown a steady 17% compound annual growth rate of online consumers in the market, according to the International Trade Administration, a U.S. government agency.



This growth is driven by increasing internet penetration, smartphone adoption and the growing use of digital financial services, especially mobile money.



&#8220;We&#8217;re looking at an expansion strategy to move into multiple markets. We&#8217;re already operational in Egypt as a second country, but we are quite seriously looking at, in the future, building a network across Africa,&#8221; Pargo CEO and co-founder Lars Veul told Reuters.



He said the options would span the main economies in Africa.



&#8220;We don&#8217;t know exactly yet. So, it&#8217;s more about the countries where e-commerce is booming or expected to boom.&#8221;



The expansion will also be driven by following its existing clients into countries where they operate outside of South Africa, Veul added.



Veul, a Dutch citizen who moved to Cape Town in 2012 from Amsterdam to help set up online marketplace Groupon in South Africa, said he co-founded the company in 2015 after realising last-mile delivery was a serious challenge for e-commerce businesses on the continent.



The firm has more than 4,000 pick-up points located at retail stores across South Africa, including township &#8220;spaza&#8221; shops, which are informal stores that dot township corners.



Pargo has partnered with major listed telecoms, banks and retailers including U.S. e-commerce giant Amazon, which launched in South Africa in May this year. Amazon&#8217;s customers order online and then collect their parcels at Pargo&#8217;s pick-up points.



Click-and-collect allows shoppers to avoid delivery costs and the agony of waiting for the delivery. It also lowers costs for last-mile delivery companies, who grapple with fuel expenses, product returns and difficulty in delivering to townships and rural areas.



(Reporting by Nqobile Dludla; Editing by Jamie Freed)

Amazon South Africa’s click and collect partner Pargo eyes Africa expansion

South African click-and-collect firm Pargo considers foray into rest of Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-820x536.jpg" alt="" class="wp-image-494166" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-1536x1003.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/PPA7LZHDAZIPJMJ7KHMLZAMWME-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view shows the logo of South Africa&#8217;s central reserve bank, at the reserve bank offices in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s central bank governor, Lesetja Kganyago, said on Thursday that the country could move to a lower inflation target at little cost.



Kganyago is a strong advocate for a lower target than the bank&#8217;s current 3% to 6% range and told Reuters in April that teams from the central bank and National Treasury were in talks about the issue.



Speaking in a lecture at the University of Stellenbosch, Kganyago said reducing the target could help achieve lower inflation and interest rates, drawing on the experience of the bank stressing that it prefers to see inflation close to 4.5%, the midpoint of its target band, since 2017.



&#8220;Executed effectively, a lower target could be achieved at little cost, just as we moved to 4.5% at little cost,&#8221; Kganyago said.



The governor cited studies that showed there had been little to no negative impact on economic growth from the bank&#8217;s decision to stress its preference for 4.5% inflation, rather than treating 3% to 6% as a &#8220;zone of indifference&#8221;.



He said the emphasis on the 4.5% midpoint had helped lower inflation through &#8220;clear and credible communication&#8221;.



In April, Kganyago told Reuters that he personally hoped a decision could be taken to lower the inflation target before 2025.



Other arguments given by Kganyago for lowering the bank&#8217;s current target include that it is out of kilter with South Africa&#8217;s emerging market peers, too wide and serves to anchor inflation expectations higher than policymakers would like.



South Africa introduced its inflation-targeting framework in 2000, and had planned to lower the target to 3%–5% and then 2%-4%.



(Reporting by Kopano Gumbi; Additional reporting by Tannur Anders; Editing by Alexander Winning and Daren Butler)

South Africa trims rate hikes as power cuts slash growth prospects

South Africa could lower inflation target at little cost, c.bank governor says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="575" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-820x575.jpg" alt="" class="wp-image-543284" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-820x575.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-768x539.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-1536x1078.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/EWIHZR63PZN5DEGVL2QOXJBLFM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Cars are seen on display at a showroom of a Nissan dealership in Melrose, South Africa, July 16, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Oct 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, President Cyril Ramaphosa said on Thursday, as Africa&#8217;s most industrialised economy transitions its automotive industry.



Global automakers like Ford, Volkswagen, BMW and Toyota manufacture models in South Africa for both the local and European markets. Britain and the European Union jointly consume 46% of the vehicles the country produces.



The move towards cleaner and more sustainable fuels, plus stringent regulation in key markets, is putting pressure on some global automakers to shift towards electric and hybrid models, Ramaphosa said at an automotive industry conference.



As a result, South Africa&#8217;s automotive industry is positioning itself to take advantage of the demand for new energy vehicles.



&#8220;Consideration must be given to incentives for manufacturers, as well as tax rebates or subsidies for consumers, to accelerate the uptake of electric vehicles,&#8221; Ramaphosa said.



To encourage the production of electric cars in South Africa, the government will introduce an allowance for new investments from March 1, 2026, Finance Minister Enoch Godongwana said in February in his budget.



This will allow producers to claim 150% of qualifying investment spending on electric and hydrogen-powered vehicles in the first year.



Ramaphosa added that the government is working to finalise comprehensive policy guidelines on so-called new energy vehicles &#8220;that do not exclude alternative technologies such as hybrids and plug-in hybrids&#8221;.



Last year, the minister for trade, industry and competition published a white paper outlining steps to support the transition such as government incentives and a temporary reduction on import duties for batteries in vehicles produced and sold in the domestic market.



The paper also advocated the production of batteries for battery electric vehicles in South Africa and the development of value chains in the green hydrogen fuel cell market.



&#8220;We are committed to working hand-in-hand with the private sector to promote the production of new energy vehicles and the development of the necessary infrastructure to support them,&#8221; Ramaphosa said.



($1 = 17.7422 rand)



(Reporting by Nqobile Dludla; Editing by Jan Harvey)

Cars are seen on display at a showroom, in Melrose

South Africa mulls tax rebates, subsidies to boost local EV industry

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 17 (Reuters)&nbsp;&#8211;&nbsp;The following political event, equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-political-event">POLITICAL EVENT</h2>



South African President Cyril Ramaphosa to answer lawmakers&#8217; questions in parliament.



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand held onto its gains on Wednesday, as domestic retail sales rose in August, indicating an improvement in consumer sentiment.



On the stock market, the Top-40 index closed 0.62% higher.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares gave back early gains on Thursday as a housing policy briefing in China underwhelmed investors, while the dollar stood near 2-1/2 month highs on the prospect of a Donald Trump presidency.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The Dow Jones Industrial Average rose on Wednesday and closed at a record high, and Wall Street&#8217;s two other benchmark indexes also ended higher, weathering declines in megacap tech shares thanks to small-caps gains and financial shares buoyed by strong earnings.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold rose on Thursday to hover near record levels, underpinned by uncertainty surrounding the U.S. election and expectations of more rate cuts by major central banks, while investors looked forward to a slew of U.S. data for further direction.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Medicines regulator urges Treasury to step up its funding



&#8211; Presidency upbeat on hitting 3% growth by 2025 with stable GNU



&#8211; SA carmakers call for hybrid-car production incentives



(Compiled by Tannur Anders)

South African Markets – Factors to watch on Oct 17

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1307" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-scaled.jpg" alt="" class="wp-image-542875" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-820x523.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-768x490.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-1536x980.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A woman walks past an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



JOHANNESBURG, Oct 16 (Reuters) &#8211; Africa-focused e-commerce retailer Jumia Technologies will close its South African online fashion retailer Zando and its Tunisian operations by the end of the year to sharpen its focus on its other markets, the CEO told Reuters.



Jumia is aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery and cutting delivery services not related to its e-commerce business.



&#8220;The trajectory of the countries did not align with the strategy of the group,&#8221; CEO Francis Dufay said, citing complex macroeconomics, the competitive environment and low medium term potential for growth and profitability.



&#8220;We believe it&#8217;s the right decision,&#8221; he added. &#8220;It enables us to refocus our resources on the other nine markets, where we see more promising trends in terms of scale and profitability.&#8221;



Jumia&#8217;s remaining markets include Egypt, Kenya, Morocco and Nigeria. Dufay said success in any would &#8220;easily enable us to recover&#8221; lost volumes from South Africa and Tunisia.



These two businesses accounted for only 2.7% of total orders and 3% of Gross Merchandise Value in the six months ended June 30, Dufay said.



Zando.co.za was founded in 2012 and since then has grown to become a well-known South African online fashion platform. In Tunisia, the business has been operating under the Jumia brand for a decade, selling general merchandise.



Dufay said he was not planning to sell either operation, which will hold clearance sales before shutting.



The closures mean axing about 110 jobs, Dufay said, but some may be relocated to other parts of the group&#8217;s business.



The exit in South Africa follows shortly after the country&#8217;s biggest online retail group Takealot announced the sale of its online fashion business Superbalist in September, amid increasing competition from fast-fashion Chinese e-commerce retailers Shein and Temu.



Dufay said in South Africa &#8220;growth potential was definitely more difficult&#8221; because of the highly competitive environment.



(Reporting by Nqobile Dludla; Editing Tim Cocks and Barbara Lewis)

FILE PHOTO: A woman walks past a Jumia Technologies, pickup station in downtown Nairobi

African online retailer Jumia to exit South Africa and Tunisia

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg" alt="" class="wp-image-536645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand gained in early trade on Wednesday, ahead of domestic retail sales data that could provide some early hints on the growth prospects of Africa&#8217;s most industrialised economy, analysts said.



At 0652 GMT, the rand traded at 17.5950 against the U.S. dollar, about 0.3% firmer than its previous close.



The dollar last traded about 0.1% stronger against a basket of currencies.



Local investors will turn to South Africa&#8217;s August retail sales data at 1100 GMT.



&#8220;Given the economy&#8217;s dependence on consumption, retail sales are an important &#8216;early indicator&#8217; of South Africa&#8217;s growth prospects,&#8221; said ETM Analytics in a research note.



Lower interest rates, slow inflation and potential continued strength in the rand could help retail sales looking forward, the note added.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals.



(Reporting by Tannur Anders; Editing by Sumana Nandy)

South African rand firms as August retail sales data on tap

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency moves may affect South African markets on Wednesday.



ECONOMIC EVENTS



August retail sales data at 1100 GMT



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand was little changed on Tuesday after the release of a local business confidence index and the central bank&#8217;s bi-annual Monetary Policy Review.



In stocks, the Top-40 index closed 0.52% lower.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian equities fell on Wednesday after disappointing earnings from Europe&#8217;s biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



Wall Street&#8217;s major stock indexes closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading losses as chip stocks tumbled on demand concerns, while the energy sector fell 3% as oil prices dropped.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold traded in a tight range on Wednesday as market participants awaited more U.S. economic data to determine the number of rate cuts the Federal Reserve is likely to deliver in the near term.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Inflation now under control even in the downside scenario, Bank models show



(Compiled by Tannur Anders; Editing by Andrew Heavens)

South African Markets – Factors to watch on Oct 16

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="524" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-820x524.jpg" alt="" class="wp-image-542491" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-820x524.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-768x491.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-1536x982.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A customer compares prices while shopping at a Pick and Pay shop in East London, in the Eastern Cape province, South Africa, March 17, 2023. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 15 (Reuters)&nbsp;&#8211;&nbsp;South African business confidence dipped in September on lower vehicle and retail sales and a drop in the value of building plans, but the overall trend since May&#8217;s election remains positive, data showed on Tuesday.



The South African Chamber of Commerce and Industry&#8217;s Business Confidence Index (BCI) fell to 110.2 in September, down from 111.5 in August but higher than the 109.1 recorded in July.



The BCI is released every two months.



Business sentiment rose gradually from June, when a broad coalition government was formed after the African National Congress lost its parliamentary majority in the election.



&#8220;The meagre dint of the BCI in September may however be ascribed to understanding the challenges and finding convergence between role players,&#8221; the South African Chamber of Commerce and Industry (SACCI) said in a statement.



Factors supporting sentiment last month included increased numbers of international tourists, higher export volumes and lower inflation.



Annual inflation fell to 4.4% in August, dropping below the midpoint of the central bank&#8217;s target range and encouraging it to cut interest rates for the first time in more than four years in September.



SACCI said it hoped the finance minister&#8217;s mid-term budget statement on Oct. 30 would &#8220;confirm the effort of resolving structural impediments in the economy&#8221;.



(Reporting by Tannur Anders; Editing by Alexander Winning)

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South African rand firms, inflation print next week

South African click-and-collect firm Pargo considers foray into rest of Africa

South Africa could lower inflation target at little cost, c.bank governor says

South Africa mulls tax rebates, subsidies to boost local EV industry

South African Markets – Factors to watch on Oct 17

African online retailer Jumia to exit South Africa and Tunisia

South African rand firms as August retail sales data on tap

South African Markets – Factors to watch on Oct 16

South African business confidence dips, but post-election trend still positive

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South Africa

South African rand firms as dollar slips

South African rand little changed; CPI data in focus

South African Markets – Factors to watch on Oct 23

South African inflation drops sharply, paving way for more rate cuts

South Africa sees Russia as a valued ally, Ramaphosa tells Putin

South Africa’s budget to show healthier finances but discipline still needed, economists say

South African Markets – Factors to watch on Oct 21

South Africa asks Taiwan to move its de facto embassy from Pretoria

South African rand firms, inflation print next week

South African click-and-collect firm Pargo considers foray into rest of Africa

South Africa could lower inflation target at little cost, c.bank governor says

South Africa mulls tax rebates, subsidies to boost local EV industry

South African Markets – Factors to watch on Oct 17

African online retailer Jumia to exit South Africa and Tunisia

South African rand firms as August retail sales data on tap

South African Markets – Factors to watch on Oct 16

South African business confidence dips, but post-election trend still positive

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