Finance News Update | 19 Dec 2025

General Headlines

US issues warning to South Africa

The United States has warned South Africa over the alleged intimidation and detention of US officials following the deportation of Kenyan nationals working at an American-run refugee processing centre. Washington said it would not tolerate actions against its officials and cautioned that failure to hold those responsible accountable could lead to “severe consequences”. South Africa’s Minister of Home Affairs, Leon Schreiber, has denied the claims, stating that no US officials were arrested, the operation did not take place at a diplomatic site, and no members of the public were harassed. (TimesLive)

Durban municipality faces court backlash

The KwaZulu-Natal High Court has delivered a sharply critical ruling against the eThekwini Municipality, finding that the city endangered public health by reopening beaches with dangerously high E. coli levels without the required provincial approval. The court ruled that the municipality breached its agreement by opening additional beaches beyond what had been authorised. The judgment relates to events in November 2022, when the DA accused the city of failing to properly manage widespread sewage spills linked to deteriorating wastewater infrastructure. (EWN)

Goodbye cash and ATMs as you know them in South Africa

The South African Reserve Bank is preparing the most significant reform of the country’s cash system in decades, including the creation of a dedicated cash-management company, the introduction of white-label ATMs, and stricter oversight of cash circulation. The proposed Cash Smart Strategy aims to lower costs and improve access to physical cash, particularly for low-income and rural communities that have limited access to digital payment systems and often face substantially higher transaction costs than urban users. (BusinessTech)

Property

Why South Africans are leaving Cape Town for smaller towns

While many South Africans are relocating from Cape Town, most are remaining within the Western Cape, opting instead for smaller towns that offer greater affordability, reduced congestion, and more space. Popular destinations include the Winelands—such as Stellenbosch, Paarl, and Somerset West—where buyers are drawn to the rural lifestyle, wine farms, and strong schooling options. Seeff also reports increased migration to the Garden Route, with Mossel Bay, George, Knysna, and Plettenberg Bay emerging as top choices. (Newsday)

Commercial property adjusts after grey-list exit

South Africa’s removal from the FATF grey list represents a key step in rebuilding international confidence in its regulatory and financial systems. According to Pepler Sandri, Senior Director of Capital Markets at JLL Africa, transaction activity slowed significantly in the first half of 2025, with volumes falling to around R7 billion. The office sector, once the backbone of the commercial property market, is no longer the dominant asset class. JLL Africa notes that competition from remote and hybrid work continues to reshape demand, prompting landlords to rethink offerings through enhanced technology, ergonomic design, and flexible, multi-use spaces that position offices as destinations rather than traditional workplaces. (Property Wheel)

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