Finance News Update | 06 Mar 2026

General Headlines New tax could force some South African businesses to close The SA Bookmakers Association says the proposed 20% gambling tax could shut down many businesses already struggling with small profits. CEO Sean Coleman argues the tax won’t stop vulnerable people from gambling but will instead push them to illegal online platforms, reducing government revenue. He explains that the 20% figure is misleading because bookmakers already pay VAT and provincial gambling taxes. Together, these add up to about 18%. Adding the new tax would raise the total burden to nearly 39%. Coleman warns this level of taxation is unsustainable and would accelerate the growth of illegal gambling while putting licensed operators at risk. (BusinessTech)

Markets and Investments Nigeria, Angola are winners with oil at $85, SA a loser Bloomberg Economics reports that the recent surge in oil prices, driven by the US and Israel’s war on Iran, will benefit only a few sub-Saharan African economies while most will face negative consequences. Angola, Nigeria, and Ghana are expected to see improvements in their current account balances, with Angola potentially gaining up to 3.3% of GDP. Nigeria stands to benefit not only from crude oil sales but also from fuel exports, as Aliko Dangote’s massive refinery may increase supplies to Europe if prices remain favourable. In contrast, countries such as South Africa, Kenya, and the Democratic Republic of Congo will be among the hardest hit. For South Africa, the impact could reduce its current account balance by about 1% of GDP. Rising fuel costs are expected in April, and supply risks loom if major suppliers like India and Oman cut exports. The broader effect of higher oil prices across the continent will be weaker currencies and renewed inflationary pressures, which could force central banks to consider raising interest rates again. Inflation is identified as the biggest risk for most African economies under these conditions.(Moneyweb) Gold climbs higher as Middle East conflict spoils investors’ risk appetite Gold prices rose on Thursday as the conflict between the US, Israel, and Iran escalated, prompting investors to move toward safe-haven assets. Spot gold increased 0.8% to $5,177.33 per ounce, while US futures for April delivery gained 1% to $5,185.50. Analysts explained that the rise was driven by geopolitical tensions, a weaker dollar, and shifting financial conditions. The war intensified after a US submarine sank an Iranian warship near Sri Lanka and NATO intercepted a missile aimed at Turkey, adding to global instability. This escalation, alongside uncertainty about Iran’s leadership, has fueled demand for gold. Analysts believe the crisis will continue to support prices but also cause volatility until tensions ease. Gold has already climbed about 20% this year, reaching repeated record highs as investors seek protection amid political and economic uncertainty. (BusinessDay)

Property and Real Estates SA REITs surged 8.1% in February 2026, hitting an R350bn total market cap South Africa’s REIT sector surged 8.1% in February 2026, lifting its market value above R350 billion and outperforming local equities and bonds. Year-to-date returns stand at 9.1%, with some REITs delivering around 50% gains over the past year. Analysts highlight stronger fundamentals, rising distributions, and a major shift in institutional investor sentiment as key drivers of the recovery. Confidence in the sector is reflected in renewed construction activity and significant capital inflows, with R11.4 billion raised in 2025. Discounts to Net Asset Value have narrowed to just 3–4%, while top performers in February included Heriot REIT, Accelerate Property Fund, Redefine Properties, Fairvest Limited B, and Hyprop Investments.(PropertyWheel) Popular shopping mall built over a main road in South Africa being sold The Competition Commission has approved the sale of The Bridge Shopping Centre in Gqeberha to Capelink Investments, with no conditions attached. The mall, connected to the larger Greenacres Shopping Centre, is being acquired from investment funds including Acucap Investments, the Phumula Retirement Fund, and the Municipal Employees Pension Fund. Capelink Investments, owned by Mantz Holdings, already owns nearby retail properties such as the Dischem Building and Kwanobuhle Shopping Centre.The Commission found that the deal will not harm competition or raise public interest concerns. The Bridge, classified as a minor regional centre, is notable for its design built over CJ Langenhoven Drive, while Greenacres remains under the ownership of Growthpoint Properties. (BusinessTech)