Finance News Update | 11 May 2026
- Phophi K

- 6 days ago
- 2 min read

General Headlines
Reserve Bank Governor cautions the United States over rising debt levels
Reserve Bank Governor Lesetja Kganyago has raised concerns about the growing debt burden of the United States government. Speaking at the PSG Think Big Series in Sun City, Kganyago said the global economic landscape appears to be shifting, with emerging markets increasingly implementing reforms based on lessons from previous crises, while developed economies continue to tolerate escalating debt and place pressure on central bank independence. Daily Investor
Cybercriminal group targets South African firms using fake SARS alerts
Cybercrime syndicate SilverFox has reportedly been linked to a phishing campaign in South Africa that used fraudulent South African Revenue Service (SARS) notifications to infiltrate company systems. Businesses that clicked on malicious links or downloaded infected attachments risked having their systems fully compromised. The campaign exploited the perceived credibility and urgency associated with tax authority communications across South Africa, India, Indonesia, and Russia to target organisations in multiple industries. MyBroadband
South Africa warns conflict could threaten R2-trillion revenue target
South Africa’s newly appointed tax commissioner, Johnstone Makhubu, has cautioned that the Iran war could negatively affect the country’s ability to achieve its revenue targets. Rising fuel prices are expected to increase subsidy costs and place further pressure on economic growth. Makhubu said the government is concerned about meeting the R2.13-trillion revenue projection outlined in the 2026 Budget, adding that while April’s performance was manageable, the impact is likely to become more evident during May. Engineering News
Markets & Investments
Market Highlight
The JSE All Share Index remained relatively stable amid optimism that a possible US-Iran truce may be on the horizon. Resource counters supported the market, with gold and platinum shares emerging as top performers. Luxury goods group Richemont also delivered a strong performance. BusinessTech
Life Healthcare warns of difficult interim period as curatorship impacts earnings
Shares in Life Healthcare declined by 11% on Thursday after the private hospital operator warned of a challenging six months ending March. The group said revenue was negatively affected after a medical funder was placed under curatorship, resulting in an estimated R130 million reduction in revenue. BusinessTech
Property & Real Assets
High Court ruling issues important guidance for estates and gated communities
Estates and gated communities in South Africa have been advised that disputes are not limited to the Community Schemes Ombud Service (CSOS), and that parties may still approach the High Court directly when necessary. This follows a recent ruling by the Supreme Court of Appeal (SCA). According to law firm Wright Rose-Innes, the judgment resolves longstanding uncertainty around whether the CSOS Act restricts access to the courts. The SCA confirmed that the legislation does not remove the High Court’s inherent authority to adjudicate disputes. BusinessTech



