Finance News Update | 24 June 2026

General Headlines

Fidelity prepares for potential unrest ahead of national shutdown

Fidelity Services Group has activated contingency plans ahead of planned nationwide anti-illegal-immigration protests scheduled for 30 June 2026. The security company cited growing tensions following recent vigilante attacks on foreign nationals in several parts of the country. Concerns have been raised that the demonstrations could escalate into broader unrest, similar to that of July 2021. The preparations reflect efforts to mitigate potential disruptions and ensure public safety should tensions intensify. BusinessTech

Infrastructure South Africa raises concerns over tender cancellations

Infrastructure South Africa (ISA) has expressed concern over the growing number of cancelled public-sector tenders, warning that the trend is negatively affecting the construction industry. A recent analysis found that more than 70% of advertised tenders were either cancelled or closed without progressing. ISA believes the high cancellation rate is undermining investor and contractor confidence while delaying critical infrastructure delivery. The organisation has cautioned that continued uncertainty could weaken the sector’s ability to support economic growth and job creation. Engineering News

Joburg residents face steep increase in water levy

The City of Johannesburg has successfully defended its revised water demand management levy following a legal challenge by AfriForum in the Johannesburg High Court. As a result, residents will face a 67% increase in the fixed monthly charge from 1 July, with the levy rising from R65 to approximately R124, including VAT. The charge applies to all water connections regardless of consumption levels. The increase is expected to place additional pressure on household budgets already affected by rising living costs. EWN

Markets & Investments

Market and Stock Highlight

The South African rand weakened against the US dollar on Tuesday as global markets responded to expectations of a more aggressive stance from the US Federal Reserve. The local currency traded at 16.50 to the dollar, down approximately 0.6% from its previous close. The stronger dollar has been supported by expectations of higher US interest rates, pushing the currency to its strongest levels in more than a year. On 24 June 2026, the rand traded at R16.58 to the dollar, R21.87 to the pound, and R18.84 to the euro, while gold was priced at $4,065.02 per ounce and oil at $76.48 per barrel. BusinessTech

Property & Real Assets

Court ruling strengthens protections for private property owners

The Supreme Court of Appeal (SCA) has ruled against the City of Tshwane in a case involving the attempted expropriation of privately owned property. The court found that expropriation cannot be used as a mechanism to bypass or undermine existing court orders. The ruling reinforces the principle that expropriation powers must be exercised strictly within the framework of applicable legislation. Legal experts say the judgment provides greater certainty and protection for property owners, particularly where eviction orders have already been lawfully granted and upheld. BusinessTech