Finance News Update | 02 Feb 2026

General Headlines Greater water supply resilience needed across Gauteng

An explosion at Rand Water’s Zuikerbosch plant in late January disrupted supply across Johannesburg, Tshwane, and Ekurhuleni, leaving many areas with low pressure and outages. Operations have since been restored and reservoirs are refilling, but the incident highlighted weaknesses in Gauteng’s water system. The Department of Water and Sanitation says more investment is needed, with Johannesburg Water planning R32 billion in upgrades over the next decade, including bigger reservoirs to prevent future disruptions. (Engineering News) Markets and Investments Reserve Bank keeps repo rate steady in split decision South Africa’s central bank kept its main lending rate at 6.75%, saying it wants inflation expectations to drop further. Most economists had predicted no change. Governor Lesetja Kganyago explained that four members of the Monetary Policy Committee voted to hold rates steady, while two wanted a small cut. Inflation rose slightly to 3.6% in December, above the 3% target but still within the bank’s tolerance range. Kganyago said this was likely the peak and expects inflation to ease, though rising electricity tariffs remain a concern. He also pointed to global trade tensions and unstable financial markets as risks. The bank now forecasts inflation to average 3.3% in 2026 and 3.2% in 2027, slightly lower than before. Economic growth projections remain unchanged at 1.4% for 2026 and 1.9% for 2027.(Engineering News)

JSE plunges over 3% amid precious metals volatility

On Friday morning, sharp swings in gold, silver, and platinum prices hit the Johannesburg Stock Exchange (JSE). The FTSE/JSE All Share Index dropped more than 2.5% in the first hour, fell as much as 3.5% by midday, and later recovered slightly to trade about 3% lower. The Resources 10 Index, which tracks precious metals, plunged 9%, dragging both the JSE and the rand down. The rand weakened past R16/$, while the Top 40 Index fell nearly 3.5%. Gold dropped over 5% to below $5,000/oz, down from a record above $5,500 the day before. Silver and platinum fell more than 14%. Mining stocks were hit hard: Sibanye-Stillwater and Impala Platinum lost about 8%, while African Rainbow Minerals, Gold Fields, and Alphamin Resources fell over 6%. By midday, gold and platinum counters were the 10 biggest losers on the JSE. The exchange, which closed Thursday at 125,249 points, fell below 121,000 at one stage Friday, though it is still more than 4% higher for the year. (Money web) Another win for finance powerhouse buying South African company for R2.2 billion

 The Competition Tribunal has approved a deal for Old Mutual Wealth to buy 10X Investments from Old Mutual Private Equity (OMPE) and DiGame Investments. 10X is a South African asset manager offering retirement savings and tax-free investment products. Old Mutual Wealth will pay R2.2 billion for a majority stake, while 10X’s management will keep a significant share in the business. OMPE and DiGame first invested in 10X in 2014, backing its strategy to make retirement savings cheaper and simpler through technology. Since then, 10X has grown rapidly, with assets under management climbing to R68 billion and more than 60,000 clients. It now leads the market in flows into passive products, ETFs, and innovative investment solutions. (Business Tech)

Property and Real Assets Dipula Properties reports 5% retail turnover growth in Q4 25: KZN leads at 10%

Dipula Properties reported a 5% increase in turnover for the quarter ending 31 December 2025 across its township, rural, and urban convenience retail assets. Most retail categories grew faster than inflation, with cellular and electronics showing the strongest gains. By province, turnover rose 10% in KwaZulu-Natal, 8% in the Eastern Cape, 6% in Limpopo, 4% in Northwest, and 3% in Gauteng and the Free State, while Mpumalanga declined by 1.5%. Urban convenience and rural centres grew 6%, and township centres grew 3%. In August 2025, Dipula acquired several properties, including Airborne Business Park (Boksburg), Bayer Distribution Centre (Klerksdorp), Woolworths Gezina (Gauteng), and Protea Gardens Mall (Soweto), with transfers now completed. Fairvest Limited remains the largest shareholder, holding 23% of Dipula. (Property wheel)