Finance News Update | 20 May 2026

General Headlines Fuel price surges reach taxi fares From Monday, 18 May, taxi fares across South Africa went up because of rising fuel costs linked to the war in Iran. Fuel prices first increased on 1 April, with petrol rising by about R1.88 per litre and diesel by up to R2.90. A bigger hike followed on 6 May after supply problems pushed Brent crude oil above $100 a barrel. Petrol then rose by R3.27 per litre, diesel by R6.19, and paraffin by R4.22. Taxi operators, supported by Santaco, say the fare changes are needed to stay afloat. Government tried to ease the impact by cutting the fuel levy by R3 per litre from 1 April to 2 June. (MoneyWeb) Ramaphosa’s warning to South Africa President Cyril Ramaphosa has stressed that South Africa urgently needs more investment to grow the economy and create jobs. In his weekly letter to the nation, he explained that government is working on major investment projects worth trillions of rands, but progress has been slower than expected. He highlighted that local companies are holding about R1.8 trillion in reserves, money that could be used to boost the economy instead of sitting idle. Ramaphosa urged the private sector to move this “substantial private capital” into productive domestic investments, saying that building a stronger and more inclusive society requires both government and businesses to invest at scale. (BusinessTech) Markets and Investments Fortress acquires Balfour mall, to open redeveloped property in 2027 Fortress Real Estate Investments has bought the 37,000 m² Balfour Mall in Highlands North, Johannesburg, through its 51% stake in Tradecco Properties. Together with Forever Young Capital, Fortress plans a full redevelopment of the mall, set to reopen in 2027. The upgrade will refresh the tenant mix with two major grocery stores, new restaurants, family entertainment, and lifestyle offerings. It will also improve access roads, parking, add a taxi rank and hawkers’ zone, and include green features like solar power, water-saving systems, and smart metering. Beyond the mall, Fortress will invest in the surrounding community by cleaning public spaces, upgrading schools, regenerating sports facilities, and improving security. The Competition Commission approved the deal without conditions, adding a high-profile retail asset to Fortress’s Gauteng portfolio and reinforcing its focus on community-serving properties.(EngineeringNews) South African rand weakens as investors watch Middle East developments, await local data On Tuesday, the South African rand weakened as investors stayed cautious over Middle East tensions after US President Donald Trump paused a planned attack on Iran. At 07:30 GMT, the rand traded at 16.6250 per dollar, down 0.3%. Analysts warned that the longer the conflict continues, the more pressure the rand could face. The US dollar rose 0.2%, while gold prices - important for South Africa - fell 0.4%. Locally, attention is on April inflation data due Wednesday, expected to rise to 3.9% from 3.1% in March, showing the impact of the war. March retail sales will also be released but are unlikely to reflect weakness yet. On the Johannesburg Stock Exchange, the Top-40 index gained 0.2%, while the benchmark 2035 government bond yield stayed flat at 8.85%.(EngineeringNews)

Property and Real Estates  SA’s commercial property posts 12% total returns in 2025 as income returns stay strong South Africa’s commercial property sector delivered stronger returns in 2025, rising to 12%, according to the SAPOA Property Trends report by MSCI. This was mainly due to steady income returns of about 8.4% and a recovery in capital growth to 3.3% after weak years. Performance varied across regions and property types, with Cape Town leading the metros, and industrial assets plus non-metro retail showing the best results. However, rising operating costs remain a major challenge, climbing 16.1% in 2025 -far above income growth -with electricity and municipal charges putting heavy pressure on landlords.(PropertyWheel)