Finance News Update | 09 Jan 2026
- Phophi K

- Jan 9
- 2 min read

General Headlines
Severe wildfires trigger evacuations in Eastern Cape
The Kouga Municipality in the Eastern Cape has begun evacuations after devastating wildfires swept through the region on Thursday. The fires have destroyed homes and farmland, forcing residents to flee affected areas. Authorities confirmed three major fire fronts: behind Humansdorp, between St Francis Bay and Paradise Beach, and in the Kabeljous River area. St Francis Bay and Jeffreys Bay towns were not under threat. Eskom has warned that fire-related structural damage has caused power outages, and restoration efforts will begin once conditions are deemed safe. (Daily Maverick)
Crackdown on hijacked properties in Bryanston
The City of Johannesburg is probing a network of 17 hijacked homes in Bryanston following a raid on a luxury mansion that resulted in the removal of 150 illegal occupants and the arrest of an alleged syndicate leader. Property owners reportedly spent five years attempting to reclaim the home. The city has announced plans to target an additional 17 properties in the coming week. Officials noted that high walls and inward-facing security features in the area have made these properties attractive targets, as they limit visibility and hinder intervention. (News24)
South Africa faces mounting VAT compliance challenge
New data from the South African Revenue Service (SARS) show that undisputed tax debt has surged to a record level of nearly R500 billion, with Value-Added Tax (VAT) posing the greatest risk. VAT remains the country’s second-largest revenue source, contributing R457.8 billion in the 2024/25 fiscal year, behind personal income tax at R733.2 billion. SARS has reiterated that personal liability for tax non-compliance is firmly embedded in law, meaning individuals may be held personally responsible for a company’s tax failures. (BusinessTech)
Markets & Investments
Interest rate cut expectations gain momentum
Economists are increasingly leaning towards a possible interest rate cut this month, revising earlier expectations of a hold until March 2026. While consensus remains that rate cuts are imminent, the timing remains uncertain amid heightened global economic volatility. Recent geopolitical developments, including a US raid on Venezuela, have pushed investors toward safe-haven assets such as gold. Given mining’s importance to the South African economy, rising gold prices could provide a meaningful boost to local growth prospects. (BusinessTech)
Property & Real Assets
HCI to sell major shopping mall stake for R600 million
Hosken Consolidated Investments (HCI) is set to sell its 65% stake in Whale Coast Village Mall in Hermanus for R600 million. The group said the disposal of the Point Mall will deliver a strong return on investment and improve cash flow. As of 30 September, the rental enterprise reported net assets exceeding R188 million and a profit after tax of R5.47 million for the six months ended on that date. (BusinessTech)



