Finance News Update | 31 July 2026


General Headlines
SARS sends a warning to anyone who filed a tax return this year
Scammers in South Africa are now using AI to create fake messages that look like they come from the South African Revenue Service (SARS). This makes it harder for taxpayers to tell the difference between real and fraudulent notices. The warning comes during the 2026 tax season, when many people are waiting for refunds and are more vulnerable to being tricked. In these scams, victims are told they are owed large refunds, sometimes up to R50,000, and are directed to fake websites. While phishing scams of this kind are not new, the use of AI makes them appear more professional and harder to spot. SARS has urged taxpayers to be cautious, delete and block suspicious messages, and report them to the IT Security team at phishing@sars.gov.za.(BusinessTech)
Markets and Investments
South African rand tracks subdued market peers ahead of Fed interest rate decision
The South African rand was steady in early Wednesday trade, moving in line with other emerging market currencies as investors waited for the US Federal Reserve’s policy decision and comments from Chairman Kevin Warsh on inflation and interest rates. At 07:23 GMT, the rand traded at 16.7050 per dollar, almost unchanged from Tuesday. Markets expect a 68% chance that rates will stay the same and a 32% chance of a small hike, with a stronger likelihood of an increase in September. Like other risk-sensitive currencies, the rand is influenced by global monetary policy as well as local data.Fresh figures from the South African Reserve Bank showed slower growth in money supply and private-sector credit, both weaker than forecasts. Investors were also watching rising tensions in the Middle East after US and Saudi strikes on Iran-backed groups in Iraq, which pushed oil prices higher. On the Johannesburg Stock Exchange, the Top-40 index rose 1%, led by mining stocks. Valterra Platinum stood out, with profits jumping over 1,600% thanks to stronger platinum group metal prices and higher output, sending its shares up more than 7%. Meanwhile, South Africa’s benchmark 2035 government bond weakened slightly, with yields rising to 8.53%. (EngineeringNews)
Property and Real Estates
Cape Town CBD sees 41% property development boom
Property investment in Cape Town’s central business district (CBD) grew strongly in 2025/26, rising 41% compared with the previous year. According to the latest State of Cape Town Central City Report by the Central City Improvement District (CCID), the value of developments increased from R9 billion in 2024/25 to R12.8 billion, reflecting strong investor confidence. The CCID, made up of commercial and residential property owners, highlighted 29 projects across its 1.74 km² footprint, ranging from completed builds to those under construction or proposed.The report notes several ambitious billion-rand commercial and mixed-use projects reshaping the skyline, creating a busier downtown filled with residents, businesses, and visitors. Residential developments continue to dominate, with 22 projects since 2021 adding about 3,260 new apartments worth R5.1 billion. The commercial sector remains resilient too, with Cape Town recording South Africa’s lowest office vacancy rate at 6.2% in the second quarter of this year, according to the South African Property Owners Association. (EngineeringNews)
Growthpoint opens first Epione Health Village in Rosebank
Growthpoint Healthcare Property Holdings has launched the first Epione Health Village in Rosebank, Johannesburg - a R100 million flagship facility offering integrated, affordable healthcare. Co-developed with Epione, it provides a one-stop service from GP consultations to specialist care, diagnostics, pharmacy, and surgery.Managed by Growthpoint Investment Partners, the company oversees R8 billion in healthcare assets. The Rosebank site includes a ground floor with a pharmacy, coffee shop, concierge, and 22 consulting rooms for GPs, dentists, optometrists, and specialists, plus an in-house lab. The second floor features a 20-bed ambulatory surgery centre and two theatres for advanced procedures like colorectal and endoscopy screening. This project marks a major step in expanding accessible healthcare and strengthening medical infrastructure in South Africa.(PropertyWheel)



