Finance News Update | 14 Aug 2026

General Headlines Big changes for anyone with Standard Bank contracts in South Africa Standard Bank has confirmed that from May 2026, all new contracts will move from JIBAR to ZARONIA, in line with the South African Reserve Bank’s plan to fully end JIBAR by December 2026. JIBAR is a forward-looking rate based on fixed periods like one or three months, while ZARONIA is a backward-looking overnight rate that is considered safer and more transparent. This change will alter how interest is calculated, making it more complex for lenders and borrowers, and requiring trillions of rands in financial agreements such as loans, bonds, and derivatives to be rewritten. The Reserve Bank first announced the plan to replace JIBAR in 2020 after five years of testing. ZARONIA was introduced for observation in 2022, formally endorsed in 2023, and trading in ZARONIA-based derivatives began in April 2025, followed by cash and money market products in June 2025. Standard Bank has now adopted a “No New JIBAR” policy to manage the transition. For most individuals, especially those with personal loans linked to the Prime Lending Rate, this change will not be noticeable, since the PLR is not affected. The shift mainly impacts larger financial contracts and marks a major structural change in South Africa’s financial markets. (BusinessTech)

Markets and Investments South African rand steady ahead of mining data and as Fed rate-hike bets shrink On Thursday morning, the South African rand stayed almost unchanged at 16.16 against the dollar as investors waited for local mining production data. Statistics South Africa will release June figures later in the day, after May’s mining output dropped by 5.4% and economists expect another decline. Analysts say weaker mining results are due to high costs and lower commodity prices, even though fuel costs eased slightly in June compared to last year. The rand, like other risk-sensitive currencies, is influenced by both local data and global factors such as US monetary policy. Recently, US inflation rose only 0.1% in July, which may reduce the chances of the Federal Reserve raising interest rates soon, boosting investor appetite for risk. Meanwhile, the Johannesburg Stock Exchange’s Top-40 index fell 0.9% in early trade, and South Africa’s benchmark 2035 government bond weakened, with its yield rising to 8.425%.(EngineeringNews) Old Mutual returns to Zimbabwe market after six years Old Mutual shares have started trading again in Zimbabwe, this time on the US dollar-based Victoria Falls Stock Exchange. They were suspended six years ago on the Zimbabwe Stock Exchange to stop currency instability. On their debut, the shares opened at 76 US cents and closed at 78.17 cents, giving the insurer a value of $51 million. In South Africa, where Old Mutual is based, the stock closed at R12.56. Zimbabwean authorities halted Old Mutual and other cross-border companies in 2020 because investors were using their dual listings to take advantage of differences between Zimbabwe’s collapsing currency and South Africa’s exchange rate. (MoneyWeb)

Property and Real Estates 

Resilient REIT reports strong H1 2026 results, reaffirms 9% distribution growth guidance

Resilient REIT reported its financial results for the six months ending June 2026, declaring a dividend of 274.38 cents per share, up 11.7% from last year. In South Africa, it owns 28 shopping centres with very low vacancies of 1.9%. Net property income rose 6%, with lease renewals averaging 2.5% higher and new leases 7.1% higher than outgoing rentals. Overall, rentals increased by 3.3% with annual escalations of 5.2%. Tenant projects were carried out across six centres, covering over 31,000m² of space. The portfolio will be fully revalued at year-end, with some centres already updated in June 2026, giving Resilient a gain of R44.3 million. Internationally, it holds stakes in shopping centres in France and Spain. In France, sales fell slightly but still delivered growth in income and sales, with vacancies at 5.2%. In Spain, sales grew strongly by 8.5%, income rose 5%, and vacancies were almost zero.With a loan-to-value ratio of 36.1%, Resilient expects its dividend distribution to grow by at least 9% for the full year 2026. (PropertyWheel)