Finance News Update | 18 May 2026

General Headlines SARS issues fraud warning The South African Revenue Service (SARS) warns about a new scam. Criminals are sending fake “Tax Settlement Notifications” that look like real SARS messages. These notices, often called “Settlement Notification” or “Final Demand,” trick people into paying money into fraudulent bank accounts. SARS says it never sends payment links except official SARS ones, never asks for your banking details directly, and never accepts deposits into personal accounts. Taxpayers should be careful and watch for signs of scams. This warning adds to many similar scams seen in recent years, especially targeting SARS’s new automated systems.(BusinessTech) Markets and Investments Interest rate pain expected for South Africa The South African Reserve Bank (SARB) will decide on interest rates at the end of May. Inflation is rising, mainly because of higher fuel prices after the Iran war started in February. March inflation was 3.1%, but April’s fuel shock is expected to push it higher, possibly between 3.7% and over 4.0%.SARB’s target is 3%, with a range of 2%–4%. Temporary price jumps are usually ignored, but if inflation stays high, the bank may raise rates. Economists warn that if the war continues, inflation could spread into other areas.Chief Economist Annabel Bishop says SARB may raise rates early to prevent this, but she expects no hike in May since current interest rates are already very high (repo rate at 6.75%).(BusinessTech) Stocks, bonds drop as inflation woes jolt traders: Markets wrap Global stocks fell as rising oil prices sparked fears of inflation. Asia’s MSCI index dropped nearly 2%, with South Korea’s Kospi down 5%. Nasdaq futures slipped 0.8%, and European markets were set to open lower. The US dollar strengthened for the fifth day during the Middle East war.Bond yields rose: the US two-year hit 4.06%, the 10-year 4.53%, and Japan’s 20-year reached its highest since 1996. Brent crude climbed above $107 a barrel after mixed comments from President Trump about the Strait of Hormuz.The recent stock rally, driven by strong earnings and AI optimism, is losing steam as investors worry that oil above $100 could reignite inflation, limit rate cuts, and even force tighter monetary policy.(MoneyWeb) Commission gives its approval for Sactwu’s proposed acquisition of various companies The Competition Commission has approved a deal for the Southern African Clothing and Textile Workers Union (Sactwu) to buy Squirewood, Gallagher Estate Holdings (GEH), Rand Daily Mail (RDM), and Solly Sachs House (SSH) from Hosken Consolidated Investments (HCI). The deal has no conditions because it will not harm competition or raise public concerns.Sactwu is a trade union in the clothing, textile, leather, and footwear industries, with growing interests in distribution, farming, and food processing. It also owns offices in several provinces. Squirewood is an investment company. GEH owns commercial properties like the Gallagher Convention Centre in Gauteng, as well as office and warehouse space in Midrand and La Lucia. RDM is a residential property company, with its main asset being a 253-apartment building in Johannesburg. SSH owns a building in Johannesburg with 300 apartments and 30 shops.(EngineeringNews)

Property and Real Estates South Africans buying R15 million homes in tiny seaside town where the average person only makes R21,400 a month In Velddrif, a small town on the West Coast about 145km from Cape Town, people are buying homes worth up to R15 million. The town sits on the Berg River estuary and is known for fishing, marinas, and birdlife. Property prices range from under R1 million for empty plots to R15 million for luxury waterfront houses.Pam Golding Properties says Velddrif is still cheaper than nearby coastal towns, but demand is driving prices up fast. Apartment prices are between R1.35 million and R1.65 million, entry-level houses cost R1.85 million to R2.5 million, mid-range homes go for R2.7 million to R3.4 million, and top-end waterfront properties sell for R7.5 million to R15 million. Prices have more than doubled in some West Coast towns in recent years, even though incomes in the wider Berg River area remain modest.(BusinessTech)