BusinessTech

The rand weakened over the past week due to flare-ups in the Middle East, as it remains volatile and susceptible to global market trends. Asian emerging markets showed gains across the board, benefiting from reduced expectations of US Federal Reserve interest rate hikes, which have put pressure on the dollar. Like other risk-sensitive emerging market currencies, the rand has been affected by global market sentiment, particularly since the US-Israeli conflict with Iran.

South African bank accounts are under attack as fraudsters abandon traditional hacking attempts and instead increasingly target customers, manipulating them into willingly sending them money. This is according to fraud prevention specialist BioCatch, which found that South African banks are facing mounting pressure from increasingly sophisticated scams. The survey revealed that 85% of South African banking leaders had seen an increase in fraud attempts against their institutions.

De Doorns is a 207-year-old small town situated in the Cape Winelands region of the Western Cape, South Africa and exports 17 million crates of grapes every year. Located in the Hex River Valley, De Doorns is 32 km northeast of Worcester and 40km southwest of Touwsrivier, making it a key stop on the main route to and from Cape Town, Johannesburg, and Port Elizabeth. De Doorns is a major player in the global fruit industry.

With South Africa’s AARTO system moving closer to becoming a reality, motorists face the prospect of having their driving licences suspended or even cancelled if they repeatedly break the rules of the road. The Administrative Adjudication of Road Traffic Offences (AARTO) Amendment Act came into effect on 1 July after being proclaimed by President Cyril Ramaphosa.

The rand rose slightly in early trading on Friday, supported by a weaker dollar as global risk appetite remained cautious due to ongoing tensions in the Middle East. The rand was trading at 16.2875 against the dollar, up approximately 0.3% from its previous close. Meanwhile, the dollar index, which measures the dollar against a basket of currencies, was down about 0.1%.

The surge in counterfeit K-Way products has become a threat to one of South Africa’s most recognisable clothing brands, as well as to local manufacturing, consumer trust, and jobs. This is the feedback from Mike Elliott, CEO of Cape Union Mart Group, who said that counterfeit K-Way have plagued the company for years.

Woolworths has launched its new rewards programme, MyDifference Plus, which the group says is designed to help its customers build better financial habits.

South Africa’s most popular business podcast – Business Talk with Michael Avery – has hit a major milestone, reaching 16 million views. This massive achievement proves the incredible momentum driving South Africa’s premier business podcast, which continues to capture the attention of a highly engaged, growing audience. Click here to book an interview on Business Talk.

The Department of Mineral and Petroleum Resources has published its draft Strategic Petroleum Stock Policy, 2026, for public consultation. The draft policy directly addresses concerns and issues raised during the recent global oil shortage, which led to panic buying and anxiety over fuel shortages in the country. However, the draft policy also addresses broader-picture concerns about South Africa’s capacities.

South African consumers have been warned of another food product recall, with the National Consumer Commission (NCC) advising shoppers not to consume selected SPAR yoghurt products following a production fault. In a consumer safety alert, the NCC said the recall was initiated after SPAR notified the regulator that a manufacturing issue had affected several yoghurt products sold nationwide.