Finance News Update | 02 Sept 2026
- Phophi K

- 3 days ago
- 2 min read

General Headlines
United States gives huge win to South Africa – with a deadline attached
The United States Congress has approved an extension of the African Growth and Opportunity Act (AGOA), allowing the trade agreement to remain in place until the end of 2028. The extension is positive news for South Africa, as AGOA provides preferential access to the US market for eligible African countries. However, South Africa’s position is not completely secure, as the US can still review and change the list of eligible countries before the next review period in January 2027. BusinessTech
PIC seeks experts for its multibillion-rand property portfolio
The Public Investment Corporation (PIC) is seeking independent property valuers as it prepares to conduct a comprehensive valuation of its extensive property portfolio across South Africa, Africa and Europe. The move follows scrutiny surrounding the valuation of Lanseria International Airport, where the PIC reportedly lost R430 million under questionable circumstances. The new valuation exercise is intended to strengthen oversight, improve transparency and ensure that the PIC’s property assets are accurately assessed. Business Day
VWGA looks to another 75-plus years of vehicle production in South Africa but calls for policy intervention
Volkswagen Group Africa (VWGA) is celebrating 75 years of vehicle production and sales in South Africa while looking towards continued operations in the country for decades to come. The company has, however, called for stronger government policy support and greater responsiveness to challenges facing the automotive industry. VWGA believes decisive policy interventions will be essential to protecting its long term competitiveness, investment and sustainability in South Africa. Engineering News
Markets & Investments
Market and Stock Highlight
The South African rand weakened on Tuesday following the release of the latest Purchasing Managers’ Index (PMI) data, while local equities also came under pressure. The JSE Top-40 Index was down 0.8%, while the yield on South Africa’s benchmark 2035 government bond increased by 8.5 basis points to 8.675%. On Wednesday, 2 September 2026, the rand was trading at R16.18 to the dollar, R21.84 to the pound, and R18.73 to the euro. Gold was trading at $4,306.52 per ounce, while oil prices stood at $95.34 per barrel. BusinessTech
Property & Real Assets
Popular shopping mall receives R75 million expansion
Growthpoint Properties is investing R75 million in the expansion and refurbishment of Walmer Park Shopping Centre in Gqeberha. The development will introduce several new retail offerings, including the first Yuppiechef store in the Eastern Cape. The expansion forms part of the centre’s broader redevelopment plans and is expected to enhance its retail offering and appeal to shoppers in the region. BusinessTech



