Finance News Update | 04 Feb 2026

General Headlines Standard Bank dropping cash at more branches in South Africa Standard Bank in South Africa plans to make more of its branches cashless in 2026. The bank says fewer people are using cash in some areas, so it is changing how its branches work. In 2025, it already turned some branches into cashless ones to focus on modern, digital banking. Next year, it will speed up this plan by removing teller cash services in certain branches. Customers who still need cash services will have to go to special branches that keep these facilities. Cash services will be grouped into central branches with better systems. People can also use ATMs and cash centres for deposits and withdrawals. The bank says customers want more digital and advisory services instead of cash handling. Its goal is to offer more convenience, expertise, and better service closer to where customers live.(BusinessTech) Ramaphosa’s warning to South Africa South Africa’s economy is showing progress with four quarters of growth, less unemployment, and lower poverty. President Cyril Ramaphosa says this improvement cannot last without more investment. In his weekly message, he highlighted rising confidence, a strong stock market, and the lowest inflation in 20 years. The country has also been removed from the FATF grey list and received a credit rating upgrade, showing stronger financial credibility. However, the President stressed that investment is key to keeping the economy on track. Analysts agree, saying that without more investment, South Africa’s current stability will not turn into long-term growth. (BusinessTech) Markets and investments South African rand buoyed by bounce back in commodity prices On Tuesday, the South African rand got stronger in early trading, helped by rising commodity prices. It moved back below 16 rand per dollar, trading at 15.92 — about 1% stronger than before. The rand had been volatile, going above 16.20 and then below 16.00. The rebound in gold and silver prices also supported the rand. These metals had dropped sharply after Kevin Warsh was nominated as the next US Federal Reserve chair, but analysts expect their upward trend to continue. Stronger precious metals lifted commodity-linked currencies like the rand and Australian dollar, while the US dollar lost some of its recent gains. On the Johannesburg Stock Exchange, the top 40 index rose 1.03% in early trade.(Engineering News)

Vukile Property Fund acquires Iberian shopping centre for €101m Vukile Property Fund has made its first move in buying shopping centres in Spain and Portugal by acquiring Berceo Shopping Centre. Recently, its subsidiary Castellana Properties sold a group of retail parks in Spain to Ares Management for €279 million, giving Vukile cash to reinvest. These retail parks were Vukile’s first Spanish assets. The company plans to use the money from the sale, along with funds raised in October 2025, to buy more Iberian shopping centres. The Berceo Shopping Centre in Logroño, northern Spain, is being bought for €101 million. Castellana will own most of the centre (34,416m²), while Carrefour will keep and run its hypermarket in the remaining space. (Propertywheel) Property and Real Assets A warning to property owners in Cape Town

Cape Town homeowners are being warned to check that the new property valuations are correct, or they could end up paying higher rates and taxes. Storm MacLennan from Jawitz Properties says many owners may be surprised by computer-generated values, which will stay in place until 2029 if not challenged. From around 20 February, owners will have only a short time to object. If they miss the deadline, they could be stuck with inflated bills for years. Data shows many homes are overvalued, and those who don’t object could pay hundreds of rands extra each month. While the system is meant to be efficient, MacLennan says it has serious flaws.(BusinessTech)