The rand strengthened, supported by higher gold prices, as local investors anticipate the last economic data releases of the year for insights into the health of South Africa’s economy.
The rand was trading at 16.78 against the dollar, which is about 0.6% stronger than its previous close.
In the third quarter of 2025, South Africa recorded foreign direct investment outflows of R21.0 billion, a significant decrease from outflows of R73.5 billion in the second quarter, according to central bank data released on Monday.
The South African Reserve Bank noted in its Quarterly Bulletin that these outflows were primarily due to Anglo American’s sale of its remaining equity in Valterra Platinum.
However, the outflows were partially offset by an increase in foreign shareholding in a media and entertainment company, as French media group Canal+ gained control of South African broadcaster MultiChoice in the third quarter.
On Wednesday, 17 December, the rand was trading at R16.77 to the dollar, R22.46 to the pound and R19.67 to the euro. Oil was trading slightly lower at $59.64 a barrel.
5 important things happening in South Africa today
Discovery CEO sells R50 million in shares: Discovery CEO Adrian Gore sold R50.3 million worth of shares in early December, marking one of the few times he has sold shares. The company did not provide reasons for the sale, but it may have been to fund a simultaneous hedging transaction. [Moneyweb]
The crisis worse than load shedding: Years of rolling power outages in South Africa have severely impacted the economy, but a larger crisis is emerging as load shedding eases. Water shortages are becoming a critical issue due to inadequate infrastructure investment, corruption, illegal connections, and climate change. Economist Marie Antelme and ESG analyst Leila Joseph highlight that “water security is one of the most critical risks to South Africa’s future.” A study by the Department of Water and Sanitation projects a 17% supply deficit by 2030 as water demand sharply increases while supply declines. [Newsday]
Truecaller in serious trouble: Truecaller AB’s stock plummeted 29% on Monday after the Swedish caller-ID platform announced that its fourth-quarter ad revenue is expected to be around 30% lower than last year. This decline marks the lowest share price since its 2021 listing. [MyBroadband]
New rules for exporters in South Africa: South Africa has granted exporters five-year exemptions from competition laws to address trade challenges, including the 30% US tariff on SA exports. The exemptions, published in the Government Gazette, allow businesses to collaborate on marketing, logistics, and infrastructure without violating competition rules. This initiative aids efforts to diversify export markets beyond traditional partners. [News24]
Farmers concerned about abrupt trade bans: Francois Rossouw, CEO of Southern African Agri Initiative (Saai), highlighted that South African farmers supply a significant portion of Botswana’s fresh produce, making sudden market closures damaging for planning cycles. Rossouw noted that the Southern African Customs Union (SACU) is meant to ensure free trade, yet Article 18 loopholes allow for unjustified restrictions. Such abrupt policy shifts destabilise planning and confidence among South African producers, although farmers could adapt to gradual changes. [Business Report]
