Finance News Update | 20 July 2026

General Headlines

Proposal for a new BEE levy gains support

Former South African Reserve Bank Deputy Governor Kuben Naidoo has endorsed entrepreneur Alan Knott-Craig’s proposal for a new tax or voluntary levy to support Black Economic Empowerment (BEE). The proposal suggests a 3% levy on company revenue, which would contribute to a national BEE fund and enable participating businesses to qualify for a Level 3 B-BBEE certification. Supporters believe the model could simplify compliance while broadening economic transformation efforts. The proposal is currently being considered by the Minister of Trade and Industry. Daily Investor

Struggling municipalities target households with rooftop solar

Financially constrained municipalities are increasingly introducing additional charges for households with rooftop solar systems in an effort to boost municipal revenue. Civil rights organisation AfriForum argues that these charges address revenue shortfalls rather than the underlying governance and financial challenges facing municipalities. Thaba Chweu Local Municipality, for example, has introduced a monthly fee of R582.64 for properties equipped with solar installations. The move has sparked debate over the balance between encouraging renewable energy adoption and protecting municipal finances. MyBroadband

Transnet seeks private investment to modernise Cape Town port

Transnet has launched a request for proposals (RFP) to attract private sector investment and expertise to upgrade the multipurpose terminal at the Port of Cape Town. The initiative follows the port's recent ranking as the worst-performing port among 400 globally and forms part of efforts to improve operational efficiency and trade capacity. The selected private partner will be responsible for financing, developing, and operating the terminal, which facilitates trade with approximately 20 countries. The project is expected to strengthen logistics infrastructure and improve South Africa's trade competitiveness. Business Day

Markets & Investments

Market and Stock Highlight

The South African rand weakened over the past week as investors awaited the release of domestic inflation data and the South African Reserve Bank's upcoming interest rate decision. On Friday, the rand traded at 16.57 against the US dollar, around 1% weaker than its previous close, while the JSE Top-40 Index declined by 1.2%. The yield on South Africa's benchmark 2035 government bond fell by 9 basis points to 8.54%. On Monday, 20 July 2026, the rand traded at R16.52 to the dollar, R22.24 to the pound, and R18.90 to the euro, while gold traded at $4,014.34 per ounce and oil at $90.24 per barrel. BusinessTech

Property & Real Assets

Office conversions drive Johannesburg property market activity

According to FNB Commercial Property Finance, confidence among commercial property brokers declined between the first and second quarters of 2026. Despite this, the broader commercial property market continues to show signs of a gradual recovery. In Johannesburg, demand for office properties is increasingly being driven by the conversion of outdated office buildings into residential and mixed-use developments. These redevelopment projects accounted for approximately 43% of office sales in the city, highlighting the growing shift towards repurposing underutilised commercial space. Property Wheel