<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.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, Jan 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened in cautious trade on Friday, as investor focus shifted towards U.S. President-elect Donald Trump&#8217;s inauguration on Monday.



At 0808 GMT, the rand traded at 18.755 against the dollar, about 0.4% stronger than its previous close.



&#8220;Trump&#8217;s policies and U.S. Treasury movements will dominate sentiment in the short term, with limited market activity expected until after his inauguration,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



A sturdy labour market, sticky inflation and uncertainty over the potential impact of Trump&#8217;s tariffs and tax plans have led the U.S. Federal Reserve to project two interest rate cuts this year.



However, Fed Governor Christopher Waller said on Thursday three or four rate cuts are still possible if economic data weakens further.



On the stock market, South Africa&#8217;s Top-40 index was up about 0.6%.



Its benchmark 2030 government bond also strengthened, with the yield down 5.5 basis points to 9.15%.



(Reporting by Sfundo Parakozov. Editing by Bhargav Acharya and Mark Potter)

rand2 (1)

South African rand firms ahead of Trump inauguration

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" style="width:840px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, Jan 15 (Reuters) &#8211; South African assets gained on Wednesday, after a key U.S. inflation report showed consumer prices rose slightly more than expected last month in the world&#8217;s biggest economy.



At 1449 GMT, the rand traded at 18.7550 against the U.S. dollar, about 1% firmer than its previous close.



The dollar last traded about 0.45% weaker against a basket of currencies.



The U.S. consumer price index rose 0.4% last month while economists polled by Reuters had forecast the CPI gaining 0.3%. In the 12 months through December, the CPI advanced 2.9%, in line with expectations.



As markets remain wary of incoming U.S. President Donald Trump&#8217;s policies on tariffs, the latest data points to still elevated inflation, strengthening the case for the Federal Reserve&#8217;s cautious stance on interest rates.



&#8220;Volatility is expected to persist&#8230; with the rand&#8217;s value largely influenced by external factors such as U.S. trade and monetary policies,&#8221; said Zain Vawda, market analyst at MarketPulse by OANDA.



On the stock market, the blue-chip Top-40 index was last up about 1.9%.



South Africa&#8217;s benchmark 2030 government bond was also stronger, with the yield down 13 basis points at 9.175%. 



(Reporting by Bhargav Acharya and Tannur Anders; Editing by Frances Kerry and Emelia Sithole-Matarise)

Illustration photo of South African rand

South African rand, stocks surge after US consumer inflation data

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="566" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-820x566.jpg" alt="" class="wp-image-575299" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-820x566.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-300x207.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-768x530.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-1536x1060.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/CPZWR5HQKJL7PCMFS7ZRBGYOBE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Delivery bikes ride along a waterlogged road on the beach front, after heavy rains, in Durban, South Africa, May 22, 2022. REUTERS/Rogan Ward</figcaption></figure>



JOHANNESBURG, Jan 15 (Reuters)&nbsp;&#8211;&nbsp;South Africa has temporarily closed a key border crossing with Botswana due to heavy rainfall and flooding, the country&#8217;s border authority said.



The Grobler&#8217;s Bridge crossing in northern South Africa is used for trade, especially by miners in the Copperbelt region straddling Zambia and the Democratic Republic of Congo moving cargo to the port of Durban.



&#8220;Following consultations with our Botswana counterparts and thorough deliberation by the Port Management Committee, it has been decided that the temporary suspension of operations is necessary to prioritise safety,&#8221; the Border Management Authority said in a statement.



The agency urged travellers and truck operators to use alternative routes.



The crossing links Botswana with South Africa&#8217;s northern Limpopo province, which witnessed heavy rainfall last weekend.



(Reporting by Bhargav Acharya; Editing by Alexander Winning and Angus MacSwan)

Delivery bikes ride along a waterlogged road on the beach front after heavy rains, in Durban

Rains force South Africa to close border crossing with Botswana

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" style="width:840px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Jan 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand hovered near a nine-month low early on Monday against a buoyant dollar, amid an uncertain outlook for further interest rate cuts by the Federal Reserve.



At 0721 GMT, the rand traded at 19.1525 against the dollar, about 0.3% softer than its previous close. It hit 19.2050 per dollar on Friday, its weakest level since late April.



The dollar was last trading about 0.21% stronger against a basket of currencies, after surging to its highest in over two years at the expense of emerging market currencies such as the rand.



Data on Friday showed U.S. job growth unexpectedly accelerated in December while the unemployment rate fell, underscoring the strength of the world&#8217;s largest economy and leaving traders heavily scaling back bets of Fed rate cuts in 2025.



On the stock market, the Top-40 index was down about 1%.



South Africa&#8217;s benchmark 2030 government bond was weaker, with the yield up 5.5 basis points to 9.32%.



(Reporting by Bhargav Acharya; Editing by Alison Williams)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand hovers near 9-month low against buoyant dollar

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="428" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_XITIO74YJBM5XNTYYV6EQSSGSY.avif" alt="" class="wp-image-573601"/><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, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.



ECONOMIC EVENTS



November manufacturing output&nbsp;ZAMAN=ECI



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand weakened as a buoyant dollar and disappointing domestic economic data releases weighed on the local currency on Wednesday.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 1.12% lower.&nbsp;.JZAR/



GLOBAL MARKETS



The global bond rout that has pressured equities and boosted the safe-haven U.S. dollar showed signs of slowing on Thursday, even as Japanese yields edged to new multi-year highs.MKTS/GLOB



WALL STREET



U.S. stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation.&nbsp;.N



GOLD



Gold prices retreated on Thursday on profit-booking after hitting a near four-week peak in the last session, while focus shifted to jobs report due on Friday for clarity on the Federal Reserve&#8217;s 2025 interest rate path.&nbsp;GOL/



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



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



BUSINESS DAY



&#8211; JSE weaker as investors assess US jobs reports



&#8211; Coca-Cola keeps JSE and investors thirsty over mega listing



FIN 24



&#8211; Prosus says it still has appetite for risk, even as it looks to close its biggest deal in years



(Compiled by Sfundo Parakozov)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_XITIO74YJBM5XNTYYV6EQSSGSY

South African Markets – Factors to watch on Jan 9

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FN6SHZMGJVMXJICANZS4G326BA.avif" alt="" class="wp-image-573328"/><figcaption class="wp-element-caption">A general view shows the Tetra Pak factory floor in Durban, South Africa, April 4, 2024. REUTERS/Rogan Ward/File photo</figcaption></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;South African manufacturing activity fell for the second month in a row in December, a local purchasing managers&#8217; index (PMI) survey showed, as demand declined.



The seasonally-adjusted PMI sponsored by South African bank Absa slipped to 46.2 points in December 2024 from 48.1 points in November, remaining below the 50-point mark that separates expansion from contraction of manufacturing output in Africa&#8217;s most industrialised economy.



&#8220;The manufacturing sector experienced a volatile 2024, with this second consecutive monthly decline in December reversing the upward momentum seen in September and October,&#8221; Absa said in a statement.



The business activity index fell 8.7 points to 40.3, and the new sales orders sub-index also fell.



&#8220;Worryingly, some respondents noted that conditions in December 2024 were worse than usually seen in December,&#8221; Absa added.



But the bank said the sub-index which measures expected business conditions in six months&#8217; time rose in December, showing that manufacturers remain positive about future business conditions.



Export sales figures fell to levels seen in the first half of 2024, while the supplier deliveries index moved above 50 points for the first time in three months.



(Reporting by Tannur Anders; Editing by Tim Cocks)

FN6SHZMGJVMXJICANZS4G326BA

South African factory sector contracts for second consecutive month in December, Absa PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



ECONOMIC EVENTS



South Africa&#8217;s December reserves data



Absa manufacturing sector PMI survey



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand slipped against a resurgent dollar on Tuesday, after positive U.S. data suggested the Federal Reserve would likely be cautious in cutting interest rates.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 1% lower.&nbsp;.JZAR/



GLOBAL MARKETS



Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the U.S. economy and labour market remained stable.MKTS/GLOB



WALL STREET



U.S. stocks tumbled on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve&#8217;s pace of monetary policy easing.&nbsp;.N



GOLD



Gold prices edged lower on Wednesday, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year.GOL/



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



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



BUSINESS DAY



&#8211; IMF says Reserve Bank is a model of transparency but must do more



&#8211; A fun year ahead for deal making



FIN 24



&#8211; Naspers group loses R225bn as US labels Tencent a &#8216;Chinese military company&#8217;



(Compiled by Sfundo Parakozov; Editing by Tannur Anders)

istockphoto-1076949610-612×612-1-2

South African Markets – Factors to watch on Jan 8

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="390" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/Z7OUSBHECZMJVEHQT7G2AZVSQU.avif" alt="" class="wp-image-573028"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File photo</figcaption></figure>



JOHANNESBURG, Jan 7 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed early on Tuesday against a softer dollar on hopes for less aggressive tariffs by U.S. President-elect Donald Trump when he takes office later this month.



At 0636 GMT, the rand traded at 18.5650 against the U.S. dollar&nbsp;ZAR=D3, about 0.1% firmer than its previous close. The greenback last traded about 0.1% weaker against a basket of currencies.



The Washington Post reported on Monday that Trump aides were exploring tariff plans that would represent a marked softening from promises he had made during his 2024 presidential campaign.



While the news initially weakened the dollar, Trump&#8217;s subsequent denial reversed some of the U.S. currency&#8217;s declines.



&#8220;It helped bolster the ZAR&#8217;s performance as it staged a recovery at the start of the first full trading week of the year,&#8221; said ETM Analytics in a research note.



South Africa&#8217;s benchmark 2030 government bond&nbsp;ZAR2030=&nbsp;was slightly firmer in early deals, with the yield down 2.5 basis points to 9.005%.



(Reporting by Tannur Anders; Editing by Bernadette Baum)

Z7OUSBHECZMJVEHQT7G2AZVSQU

South African rand claws back as Trump tariff debate weakens dollar

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="2986" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FFF7V4LQRJNTLLSYNGSJLO2CEU.avif" alt="" class="wp-image-572748"/><figcaption class="wp-element-caption">An employee sorts out clothing at a retail store in Sandton, near Johannesburg, South Africa, October 15, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 6 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s private sector activity contracted in December for the first time since August, as muted demand and rising inflationary pressures weighed on growth, a survey showed on Monday.



The S&amp;P Global South Africa Purchasing Managers&#8217; Index (PMI) fell to 49.9 in December from 50.9 in November, slipping below the 50.0 threshold that separates growth from contraction.



New orders stalled, ending a four-month growth streak, as subdued market conditions and a further decline in export business dampened sales.



&#8220;December&#8217;s PMI data suggest that the South African economy may have lost a little bit of steam at the end of 2024,&#8221; said David Owen, senior economist at S&amp;P Global Market Intelligence.



He highlighted a &#8220;more muted demand environment&#8221; and &#8220;accelerated cost pressures&#8221; as key challenges.



Inflationary pressures intensified, with input costs rising at the fastest rate in four months, driven by higher wages and increased material and transport prices. However, the rate of inflation remained below long-term trends.



Despite the downturn, supply chain pressures eased, encouraging firms to increase input purchases for the third consecutive month.



Employment remained stable, following a slight increase in November, while output and sales contracted across most sectors, particularly in construction. The services sector, however, showed a slight uptick in new work.



Overall, the PMI&#8217;s fourth quarter average of 50.5 was the strongest since third quarter in 2022, providing some optimism for gross domestic product growth recovery after a contraction last quarter.



(Reporting by Johannesburg bureau; Editing by Hugh Lawson)

FFF7V4LQRJNTLLSYNGSJLO2CEU

South African business activity slips into contraction in December, PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="439" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand-Dec.avif" alt="" class="wp-image-568249"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, Dec 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand recovered some losses on Friday after a slight improvement in risk sentiment.



At 1406 GMT, the rand traded at 18.355 against the dollar&nbsp;ZAR=D3, about 0.3% stronger than its previous close.



Trade in the rand, like most emerging market currencies, has been volatile this week after the U.S. Federal Reserve on Wednesday struck a hawkish tone in its interest rate outlook for the year ahead.



Andre Cilliers, currency strategist at TreasuryONE, said liquidity constraints during the holiday season could amplify swings in the local currency.



&#8220;Near-term volatility (is) likely to persist,&#8221; Cilliers said.



There are no major local economic data releases scheduled for next week.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index was little changed.



South Africa&#8217;s benchmark 2030 government bond&nbsp;ZAR2030=&nbsp;was weaker, with the yield up 2 basis points to 9.135%.



(Reporting by Bhargav Acharya; Editing by Angus MacSwan and Shailesh Kuber)

rand Dec

South African rand recovers some ground against dollar

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.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, Dec 20 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.



ECONOMIC EVENTS



Energy regulator Nersa meeting on Eskom&#8217;s tariff application



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand slipped on Thursday, a day after the Federal Reserve struck a hawkish tone on interest rate cuts in the coming year.&nbsp;.JZAR/



GLOBAL MARKETS



Asian shares hit a fresh three-month low on Friday as investors awaited key U.S. inflation data that could either ease or worsen concerns about stubbornly high price pressures, while the dollar towered at two-year peaks.&nbsp;MKTS/GLOB



WALL STREET



U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year.&nbsp;.N



GOLD



Gold prices were set for a weekly decline on Friday after the Federal Reserve&#8217;s verdict on its monetary policy-easing cycle signalled a slowdown in rate cuts, while focus shifted to U.S. Personal Consumption Expenditure data later in the day.&nbsp;GOL/



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



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



BUSINESS DAY



&#8211; Treasury makes proposals to tighten laws in bid to exit greylist



&#8211; Grindrod hit hard by disruption after Mozambican election



FIN 24



&#8211; As power theft cripples Eskom, it discovers a massive racket involving its staff



(Compiled by Alexander Winning)

South African Markets – Factors to watch on Dec 20

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-820x546.jpg" alt="" class="wp-image-412999" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view of the headquarter of the embattled South African main electricity provider ESKOM is pictured on February 4, 2015 in Johannesburg. South Africa power supply was under &#8220;extreme&#8221; pressure on February 2, 2015 and likely to remain so until end of the week after a technical fault at the country&#8217;s sole nuclear plant, electricity utility Eskom said. AFP PHOTO/GIANLUIGI GUERCIA (Photo by Gianluigi GUERCIA / AFP) (Photo by GIANLUIGI GUERCIA/AFP via Getty Images)</figcaption></figure>



JOHANNESBURG, Dec 19 (Reuters)&nbsp;&#8211;&nbsp;South African state power utility Eskom on Thursday reported a higher loss after tax of 55 billion rand ($3 billion) in the financial year to the end of March because of an accounting adjustment linked to the separation of its transmission unit.



The loss after tax was up from 26.1 billion rand in the year to the end of March 2023.



Revenue in the year to end-March 2024 grew 14% to 295.8 billion rand, a presentation on the company&#8217;s website showed. Sales volumes dipped 3% to 183.3 Terawatt hours, as the company implemented power cuts on 329 days during the reporting year.



($1 = 18.2461 rand)



(Reporting by Nqobile Dludla and Bhargav Acharya; Editing by Alexander Winning)

SAFRICA-ELECTRICITY-NUCLEAR-ECONOMY-ENERGY

South Africa’s Eskom reports $3 bln loss on split of transmission unit

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand slipped against a stronger dollar on Tuesday, as investors turn their attention to the Federal Reserve&#8217;s interest rate decision.



At 0820 GMT, the rand traded at 17.93 against the greenback, about 0.4% weaker than its previous close.



The dollar index was last trading up about 0.2% against a basket of currencies.



The Fed will announce its interest rate decision on Wednesday, with markets expecting a 25 basis point cut, but the focus will also be on the central bank&#8217;s tone on rates for the year ahead.



&#8220;A conservative tone will likely support the USD and pressure EM (emerging market) currencies, including ZAR,&#8221; said Andre Cilliers, Currency Strategist at TreasuryONE.



On the stock market, the Top-40 index was down about 0.9%.



South Africa&#8217;s benchmark 2030 government bond was slightly weaker, with the yield up 1 basis point at 8.93%.



(Reporting by Bhargav Acharya; Editing by Kirsten Donovan)

South African rand weakens ahead of Fed decision

<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.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Tuesday.



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



South African leading business cycle indicator up 1.1% in October



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



Asian stocks wobbled while the dollar held firm on Tuesday as traders braced for a slate of central bank meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now.



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



The Nasdaq closed at a record high on Monday and the S&amp;P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve&#8217;s final policy announcement of the year later in the week to gauge the path of interest rates.



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



Gold prices steadied on Tuesday ahead of the Federal Reserve policy meeting as the market keenly awaited the U.S. central bank&#8217;s outlook for cues on its interest rate path in 2025.



&#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; Telkom gets Icasa nod for sale of masts business



&#8211; Jubilee’s Roan facilities hit by unplanned Zambia power outages



(Compiled by Bhargav Acharya)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Dec 17

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-501467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Dec 13 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.



ECONOMIC EVENTS



South Africa shifts to FDI outflows in third quarter, central bank says



South African inflation-linked bond auction



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



The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures.



On the Johannesburg Stock Exchange, the Top-40 index closed about 0.2% lower.



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



Asia shares fell on Friday as a strong dollar weighed on risk sentiment, while longer-dated Treasury yields are headed for their biggest weekly rise in a year on receding U.S. rate cut expectations for 2025.



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



Wall Street pulled back on Thursday as investors evaluated key economic indicators ahead of the Federal Reserve&#8217;s meeting next week.



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



Gold prices edged higher on Friday and were set for a weekly gain, driven by recent reports of top consumer China resuming gold purchases, and heightened expectations of an interest rate reduction by the Federal Reserve at its Dec. 17-18 meeting. 



&#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; Lesotho and SA clash over appointment of water project CEO



&#8211; VBS liquidator pays R458m to creditors as hunt for looted cash continues



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



&#8211; Claims of spiralling costs and coal theft emerge as corporate chaos rips through Exxaro



&#8211; Former finance minister Trevor Manuel to head G20 expert panel on Africa



(Compiled by Bhargav Acharya)

South African Markets – Factors to watch on Dec 13

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="541" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg" alt="" class="wp-image-425628" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-1536x1013.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of South Africa&#8217;s central reserve bank is seen during the delivery of a keynote address by South Africa&#8217;s central bank governor, Lesetja Kganyago, at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



PRETORIA, Dec 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa recorded foreign direct investment outflows of 3.2 billion rand ($179.87 million) in the third quarter, compared to inflows of 16.6 billion in the second quarter, central bank data showed on Friday.



The South African Reserve Bank (SARB) said in its Quarterly Bulletin that the outflows were due to domestic subsidiaries of multinational companies paying back their loans to the parent companies.



For the first time in two years, portfolio investments recorded inflows of 45.6 billion rand in July-September, from outflows of 20.1 billion rand in the second quarter.



Nthabiseng Molemoeng, head of balance of payments at the SARB, said the inflows were mainly due to an increase in foreign purchases of publicly traded government bonds following eight consecutive quarters of equity outflows.



&#8220;I think it was just a general decline in investor sentiment towards emerging markets,&#8221; she said. &#8220;Now with this quarter the inflow is mainly from debt securities.&#8221;



($1 = 17.7908 rand)



(Reporting by Kopano Gumbi, Editing by Bhargav Acharya)

FILE PHOTO: South Africa’s central bank governor to delivers keynote address

South Africa shifts to FDI outflows in third quarter, central bank says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="515" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-820x515.jpg" alt="" class="wp-image-526361" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-820x515.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-768x483.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-1536x965.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Shoppers are seen outside the Shoprite store at the Garden City mall along Thika Road in Nairobi, Kenya November 13, 2020. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



JOHANNESBURG, Dec 12 (Reuters)&nbsp;&#8211;&nbsp;South African analysts, business people and trade unions have lowered their inflation expectations through to 2026, taking them to the midpoint of the central bank&#8217;s inflation target range, a quarterly survey showed on Thursday.



The findings are likely to encourage the South African Reserve Bank (SARB) to forge ahead with its monetary easing cycle, potentially by cutting interest rates in larger increments.



The fourth-quarter survey conducted by the Bureau for Economic Research found that the average inflation forecast of analysts, business people and labour unions was for headline consumer inflation of 4.6% in 2024, 4.5% in 2025 and 4.6% in 2026.



That is down from average forecasts of 5.1%, 4.8% and 4.8% in the third-quarter survey and the lowest expectations have been in more than three years.



The SARB likes to see inflation around 4.5%, the midpoint of its 3% to 6% target band.



It has lowered its main lending rate by 25 basis points (bps) at each of its last two meetings.



But some analysts believe there is room for a 50 bp cut at the next policy meeting in January.



Data on Wednesday showed headline consumer inflation stood at 2.9% year on year in November, below the target band for the second month in a row thanks to food inflation slowing to its lowest level in almost 14 years.



(Reporting by Kopano Gumbi; Editing by Alexander Winning, Kirsten Donovan)

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