South Africa’s rand holds near 16.02 per dollar as investors await the June leading business cycle indicator and later producer inflation and budget data.
Southern Africa
Equinor says Namibia’s offshore PEL 90 in the Orange Basin could hold significant resources as it acquires a 17.4% stake ahead of planned drilling.
Offshore investors sold South African stocks while buying bonds, signalling stronger demand for fixed-income assets amid shifting global market sentiment.
African Rainbow Minerals expects FY2026 headline earnings per share to rise to 1,544–1,682 cents, supported by stronger portfolio performance and gains.
South African mobile operator Cell C reported a 57.4% rise in headline earnings, supported by stronger prepaid revenue and lower debt after restructuring.
Truworths International chairman Hilton Saven will retire at the retailer’s November 2026 AGM, with lead independent director Hans Hawinkels succeeding him.
Exxaro Resources reported a 20% drop in half-year profit as higher production costs and a stronger rand weighed on the South African miner’s earnings.
South Africa’s annual inflation slowed to 4.3% in July from 5.0% in June, beating forecasts as lower fuel and transport costs eased price pressures.
Hakainde Hichilema’s re-election gives Zambia policy continuity, but investors now want stronger growth, fiscal discipline and progress on copper output.
South African rand weakens as Middle East tensions lift the U.S. dollar and oil prices, while investors await inflation and business confidence data.