Finance News Update | 20 Mar 2026

General Headlines SARS is coming hard after government officials in South Africa

The South African Revenue Service (SARS) is intensifying its fight against corruption and fraud, especially within government departments and among its own staff. Its Illicit Economy Strategy focuses on rooting out bribery and collusion in customs and tax processes. Investigations revealed that some customs officials worked with clearing agents and importers to manipulate inspections in exchange for bribes. This led to under-declared income of over R45 million, costing the country about R18 million in lost tax revenue. To stop this, SARS has carried out search-and-seizure operations against six current and former employees, along with related taxpayers and traders. These individuals are accused of failing to meet their tax obligations by participating in corrupt schemes. Commissioner Edward Kieswetter emphasized that SARS will enforce compliance firmly and fairly, without fear or favour. (BusinessTech) Two new laws for pension funds in South Africa Two new laws are changing how retirement fund contributions are enforced in South Africa. The first, already in effect since January 2026, gives labour inspectors the power to ensure employers pay contributions on time. Employers must transfer deductions from workers’ salaries to retirement funds within seven days and add their own contributions within seven days after month-end. The second change is the proposed Employment Laws Amendment Bill of 2025, still under review. If passed, it will strengthen enforcement further by treating unpaid retirement fund contributions the same as unpaid wages, giving employees stronger rights to recover money owed. In short, inspectors now have direct authority to enforce timely payments, and the upcoming bill could expand protections even more.(BusinessTech)

Markets and Investments South African rand steady as hawkish Fed, Middle East tensions weigh The South African rand stayed stable in early Thursday trading as investors reacted to the US Federal Reserve’s firm stance on interest rates and ongoing Middle East tensions. Around 06:54 GMT, the rand was at 17.01 per dollar, almost unchanged from its previous close. The Fed kept rates steady but warned that rising energy costs linked to the Iran conflict could fuel persistent inflation. Like other risk-sensitive currencies, the rand is influenced by global factors as well as local data. It had already fallen about 1.8% the previous day due to a stronger dollar and energy concerns, closing at R16.98. Economists expect South Africa’s central bank to keep its main interest rate unchanged at its upcoming policy meeting on March 26.(EngineeringNews)

Vukile acquires 50% stake in Barcelona shopping centre

Vukile Property Fund, listed on the JSE, is expanding its presence in Spain through its subsidiary Castellana Properties. The company will acquire a 50% stake in the Splau Shopping Centre in Barcelona from Unibail-Rodamco-Westfield (URW), forming a joint venture. This is their third deal together and marks the start of a long-term partnership. URW will continue managing the centre daily, while both parties will jointly oversee strategic decisions. The Splau Shopping Centre, valued at €350 million, is a major retail hub covering over 54,000 m² and serving about one million people in Barcelona’s southern gateway. Castellana’s share is worth €175 million, fully funded from existing cash. Vukile says the deal strengthens Castellana’s portfolio, which now includes leading assets in Madrid, Barcelona, and Valencia, and will boost earnings. Completion is expected before the end of April. (EngineeringNews)

Property and Real Estates

SA’s high-value residential turnover beat lower-value areas in 2025

South Africa’s housing market in 2025 was most active in the mid to premium price ranges, according to Lightstone’s review of 200,000 transactions. Normally, property activity or churn follows a hump-shaped pattern: entry-level homes see steady movement from first-time buyers and investors, the mid-market has the highest activity driven by growing families and relocations, while luxury homes tend to have the least churn because they are held longer and have fewer buyers. Lightstone notes that recently, activity in the lower-priced segments has slowed compared to the stronger performance in the mid and higher-end markets. (PropertyWheel)