South Africa’s rand weakened on September 23, 2026, after the central bank raised its key interest rate by 25 basis points to 7.25%. SARB Governor Lesetja Kganyago cited inflation targets, while economists warned that surging global oil prices and tighter financial conditions risk fueling domestic price pressures.
The South African Reserve Bank lifted its benchmark rate to 7.25% to steer inflation back toward its 3% target. The move came in line with market expectations despite Statistics South Africa figures showing headline inflation edged up to 4.4% year-on-year in August, rising from 4.3% in July. Markets had anticipated a reading closer to 5% due to steep diesel price hikes that month.
Following the rate decision, the rand traded at 16.3975 against the dollar, marking a 1.3% drop from its previous close. By Thursday, September 24—a public holiday in the country—the currency hovered at R16.37 to the dollar, R21.68 to the pound, and R18.63 to the euro, while gold remained flat at $4,288.71 an ounce.
Fuel Price Pressures and Imported Inflation Risks
Central bank officials stress that bringing inflation down to the 3% objective remains critical as earlier fuel price reliefs fade. FNB chief economist Mamello Matikinca-Ngwenya pointed to global factors driving local vulnerability. Rising oil prices and tighter global financial conditions have heightened the risk of imported inflation feeding into broader pricing dynamics, particularly through higher fuel costs and currency depreciation,
economists noted, underscoring South Africa’s heavy exposure as a net fuel importer.
August marked only the beginning of sharp energy cost increases. Both petrol and diesel prices climbed in September, and October is tracking toward another massive increase that will push retail prices to fresh record highs. Global oil prices have remained consistently above $100 a barrel throughout the month, hovering near 104.50.
DStv Overhauls Packages and Debuts Wethu+ Channel
Amid shifting economic conditions, MultiChoice rolled out a major restructure of its television offerings in South Africa, anchored by the launch of a brand-new hybrid channel called Wethu+. Going live on September 17, 2026, the channel replaces Mzansi Wethu on channel 163 as part of a wider overhaul of DStv’s packages.
The service combines programming from three separate networks: Mzansi Wethu, Mzansi Bioskop, and Mzansi Magic Music. The schedule mixes international blockbuster movies, dubbed telenovelas, and local reality shows alongside prime-time draws like Umhlaba Wezifiso S1, Shaka iLembe S2, Homecoming S2, My Brother’s Keeper S2, and The River S6.
Crucially for sports enthusiasts, the channel also brings domestic competition directly into family packages. Viewers can watch two live PSL matches every weekend during the football season.
Daytime schedules incorporate educational programming and youth revision content through Woza Matrics. MultiChoice confirmed that the channel is available to subscribers on the DStv Starter package and higher tiers.
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